Anantara Qasr Al Sarab, Abu Dhabi
Head to the desert for a "wellness experience" at the sumptuous Anantara Qasr Al Sarab. You'll start off with a private consultation with qualified spa and fitness managers, who will create a fitness package customised to your individual needs and goals. The offer costs from Dh10,486 for three nights in a deluxe room, based on two sharing, full board, including four spa treatments per person; an in-room spa bath ritual; three fitness classes per person, such as yoga and pilates; two desert activities per person - either camel riding or dune bashing; and a guided dune walk. Transfers from Abu Dhabi and all taxes are included. Valid until December 31. Call 02 886 2088 or visit www.qasralsarab.anantara.com.
Emirates Palace, Abu Dhabi
Experience a hint of life like a royal with Emirates Palace's "palace suite" offer. Starting from Dh6,050 per night, based on two sharing, the package includes breakfast; a private BMW with a chauffeur for seven hours (perfect for shopping expeditions to Dubai or in the capital); a 90-minute spa treatment per person at Anantara Spa; Dh500 worth of credit per person for use in the hotel's restaurants; access to the Palace lounge; and limousine transfers to Abu Dhabi International Airport.
The offer is valid until December 31. Call 02 690 8888 or visit www.emiratespalace.com for details.
The Shangri-La, Manzhouli, China
Discover snowscapes of Mongolian grasslands and enjoy the mixture of Russian, Chinese and Mongolian culture through the Shangri-La Manzhouli's "winter experience" package.
Manzhouli, which means "fresh spring water" in the local dialect, is a city of 300,000 located in China near its border with Mongolia and Russia.
Starting from 1,251 yuan (Dh723) per night, the Shangri-La's offer includes two nights in a superior room, based on two sharing, with breakfast, a night in a traditional Mongolian yurt (with breakfast, set lunch and dinner for two), a day trip to a local horse and camel farm, and a slew of winter activities, such as ice skating, downhill tubing, camel-sleigh rides and cross-country skiing. The offer is valid until February 1. Call 00 86 470 396 8888 or visit www.shangri-la.com/en/property/manzhouli/shangrila for more information.
Angsana Laguna Phuket, Thailand
Be among the first guests at the Angsana Laguna Phuket (it opens on Thursday) and get a discounted rates and credits for food and spa treatments for multi-night stays. Located in spectacular Bang Tao Bay in the Andaman Sea, introductory rates start from 7,240 baht (Dh851) per villa, per night, based on two sharing. There are 10 different categories of guest accommodation, including one- and two-bedroom lofts located directly on the lagoon, as well as pool residences and interconnecting family rooms.
The resort is a 20-minute drive from Phuket town and the airport, and has a range of restaurants featuring international and local cuisine, a beach club, a kids' club and the renowned Angsana spa.
Booking for two consecutive nights will earn a hotel credit of 3,000 baht (Dh350) per room, redeemable for food and beverages or spa treatments during the stay. Those staying for three consecutive nights also receive a 90-minute massage at the spa. The offer is valid for stays until February 27 and includes taxes. Call 00 66 7632 4101 or visit www.angsana.com/en/phuket for details.
travel@thenational.ae
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At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
BABYLON
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Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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.”
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
Basquiat in Abu Dhabi
One of Basquiat’s paintings, the vibrant Cabra (1981–82), now hangs in Louvre Abu Dhabi temporarily, on loan from the Guggenheim Abu Dhabi.
The latter museum is not open physically, but has assembled a collection and puts together a series of events called Talking Art, such as this discussion, moderated by writer Chaedria LaBouvier.
It's something of a Basquiat season in Abu Dhabi at the moment. Last week, The Radiant Child, a documentary on Basquiat was shown at Manarat Al Saadiyat, and tonight (April 18) the Guggenheim Abu Dhabi is throwing the re-creation of a party tonight, of the legendary Canal Zone party thrown in 1979, which epitomised the collaborative scene of the time. It was at Canal Zone that Basquiat met prominent members of the art world and moved from unknown graffiti artist into someone in the spotlight.
“We’ve invited local resident arists, we’ll have spray cans at the ready,” says curator Maisa Al Qassemi of the Guggenheim Abu Dhabi.
Guggenheim Abu Dhabi's Canal Zone Remix is at Manarat Al Saadiyat, Thursday April 18, from 8pm. Free entry to all. Basquiat's Cabra is on view at Louvre Abu Dhabi until October
