Why Austin?
It instantly feels like no other southern US city. University students are scooting around on bikes, live music is blaring from every doorway and window, and people are walking between impromptu gig venues with an unquenchable curiosity. Cars are ditched, conservative reserve is conspicuously absent and youthful, creative energy oozes into the night. Austin may be the capital of Texas, but it’s a ferocious backlash against all the state represents in easy reference, sound bite form. You’ll still see the odd wide-brimmed hat and pair of cowboy boots, but Austin’s soul is not at home on the range. This is the fastest-growing city in the US, and the people making it tick are those who want to be a part of a galloping urban culture rather than bedroom community dreariness. Visitors tend to develop fierce, instantaneous loves for the place, and with justification.
A comfortable bed
The W (www.whotelaustin.com, 001 512 542 3600) marries location and attitude – it's downtown and eagerly embraces the city's energetic spirit. Rock-star photos adorn the walls, bright feature walls perk the rooms up and the outdoor pool area is made for afternoon lounging. Rooms start at US$330 (Dh1,213).
More laid-back and with plenty of old-style southern charm, the Hotel Ella (www.hotelella.com, 001 512 495 1800) is a gracefully converted mansion with wonderfully comfy beds at the University of Texas end of downtown. Doubles start at $309 (Dh1,136).
The nearby Austin Folk House (www.austinfolkhouse.com, 001 866 472 6700) offers a homely B&B option, with childlike art on the walls, antique furniture and rug-covered wooden floors. Rooms cost from $109 (Dh400).
Find your feet
This is very much a city of going with the flow rather than specific sightseeing obligations, but starting on South Congress Avenue for a nosy walk past its weird-embracing shops and people-watching cafes is a good start. Head north through the city to the striking red granite Texas State Capitol building (www.tspb.state.tx.us, 001 512 463 5495). In typical Texan style, they made it slightly taller than the national Capitol in Washington. The free tours inside are worth taking – they give an insight into how such a huge building was designed for a hot climate before the days of air conditioning.
Nearby is the Bullock State History Museum (www.thestoryoftexas.com, 001 512 936 8746), which charts the turbulent Spanish, French, Mexican and independent republic eras of Texas before it reached statehood, and the effect of the rancher lifestyle and oil boom afterwards.
The most gripping history lesson, however, comes after walking past the University of Texas's gigantic football stadium and into the Lyndon Baines Johnson Presidential Library (www.lbjlibrary.org, 001 512 721 0200). It tells the story not just of one native Texan who became president in the most unfortunate circumstances following the Kennedy assassination, but of a tumultuous and transformative era for both the country and the world.
Meet the locals
The stalwart of Austin's exceptional music scene is Austin City Limits – the longest-running music TV show in the US. Free tickets for recordings at the Moody Theatre (www.acl-live.com, 001 512 225 7999) are given out via an online lottery.
Book a table
To plump for fine dining here is to thunderously miss the point. Going casual reaps the greatest rewards.
Austin does succumb to its Texas roots when it comes to barbecued meats. The best tend to be found at scruffy, egalitarian joints, but Downtown's happy medium of quality and class comes at Lambert's (www.lambertsaustin.com, 001 512 494 1500). At lunch, two meats – try the brown-sugar-and-coffee-rubbed brisket plus achiote-and-lime-rubbed chicken – plus two sides cost $16 (Dh59). Z'Tejas (www.ztejas.com, 001 512 388 7772) offers a wondrous introduction to south-western cuisine – the $21.95 (Dh81) "voo doo" tuna with spicy soy mustard and pickled ginger is an inventive diversion from the region's taco and burrito norm.
Shopper’s paradise
Austin's individuality shines through in its shopping. Forget the malls and head down the glorious cavalcade of weirdness that is South Congress Avenue. Uncommon Objects (www.uncommonobjects.com; 001 512 442 4000) is a mind-blowing procession of addictively browsable uselessness, but everything in this pseudo-antiques shop is a discussion starter. Why not buy an Abraham Lincoln bust, pig skull, set of vintage Scrabble tiles or stuffed mink?
A few doors down, the delightfully engrossing Tesoros Trading Company (www.tesoros.com; 001 512 447 7500 vigorously globetrots, selling everything from Vietnamese twisted silk scarves to loveably garish Colombian bags.
What to avoid
Austin's rise to the zenith of cool has largely come on the back of its festival scene. The South by Southwest music, arts and technology festival (www.sxsw.com) in March is the biggest driver, while the Austin City Limits festival, over two weekends in October, is coming up on the rails. If you're not coming for a festival, however, check the dates of such events – accommodation prices can inflate to horrendous levels.
Don’t miss
Anywhere aiming for the title of best urban swimming pool in the world has to top the 1.21-hectare Barton Springs Pool (www.austintexas.gov/department/barton-springs-pool, 001 512 867 3080). It has drop dead-gorgeous city views, a diving board monopolised by peacock-strutting students and a constant, spring-fed, 20-degree temperature.
Getting there
Emirates (www.emirates.com; 600 55 55 55) flies direct to Dallas from Dubai, with economy class return flights costing from Dh5,595. Austin is around three hours' drive south of Dallas/Fort Worth Airport.
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Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
Miss Granny
Director: Joyce Bernal
Starring: Sarah Geronimo, James Reid, Xian Lim, Nova Villa
3/5
(Tagalog with Eng/Ar subtitles)
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
UAE v Zimbabwe A
Results
Match 1 – UAE won by 4 wickets
Match 2 – UAE won by 5 wickets
Match 3 – UAE won by 25 runs
Match 4 – UAE won by 77 runs
Fixture
Match 5, Saturday, 9.30am start, ICC Academy, Dubai
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THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
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The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
COMPANY%20PROFILE%20
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5