Money raised by those taking part in the Emirates Arthritis Foundation walkathon will go towards research and support.
Money raised by those taking part in the Emirates Arthritis Foundation walkathon will go towards research and support.
Money raised by those taking part in the Emirates Arthritis Foundation walkathon will go towards research and support.
Money raised by those taking part in the Emirates Arthritis Foundation walkathon will go towards research and support.

Walk this way to support arthritis foundation


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The third annual walkathon for the Emirates Arthritis Foundation will take place in Dubai Festival City on Friday. Along with raising much-needed funds for the foundation, the walk aims to increase awareness of the fight against the debilitating condition, which causes inflammation of the joints and can lead to disability. Arthritis currently affects one in five people worldwide, regardless of age or race, and the numbers are increasing every year. While the average age of sufferers is approximately 43, young adults and children are also at risk. The joints, skin, eyes, lungs and even the heart are all susceptible to the pain brought about by the disease.

There are more than 100 types of arthritis. A recent report by the American Arthritis Association shows that the severest cases are most prevalent in younger sufferers. With AAA statistics showing that one third of the world's population will suffer from arthritis during their lifetime, there is still so much to be done in order to fight the disease - for which there is currently no cure. Money raised by those taking part in the walkathon will go towards the Emirates Arthritis Foundation Treatment Fund, which supports sufferers who cannot afford treatment, the costs of which can rise to Dh70,000 a year per person.

A non-profit organisation, the Emirates Arthritis Foundation provides a wide range of activities and events across the Emirates that support arthritis sufferers. Having recently been awarded a Dh250,000 grant by the Emirates Foundation, the EAF also aims to provide research into disability and workplace assistance, as well as into the costs of helping those living with the disease. Katrina Thornley, patient support director at the Emirates Arthritis Foundation, will be taking part in the walkathon and urges as many people as possible to do the same: "The whole point of the walk is to raise awareness and funds to help sufferers. The Dh70,000 [required for treatment] is too expensive for many people. In addition, some sufferers tend to not get enough exercise either, so we need to get these people out there and taking part in the walk."

Entry to the walkathon is Dh50 and children under five are free. Anyone up for a bit more of a challenge should make their way to the fun run, for which the donation is Dh150 per entrant. All participants will receive a T-shirt, one week's membership at Fitness First, a wristband, a certificate and entry into the prize drawing for the chance to win a weekend for two at Qamardeen Hotel in Dubai. In addition, anyone who raises Dh5,000 in sponsorship will receive a Dh100 Dubai Festival City shopping voucher.

For more information or to register, visit Dubai Festival City, Fitness First or Bareface. You can also contact the Emirates Arthritis Foundation on 04 423 1470 or info@arthritis.ae

The specs: 2019 Infiniti QX50

Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)

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Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

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Director: Christian Carion

Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis

Rating: 2/5

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Running time: 81 minutes

Director: David Blue Garcia

Starring: Sarah Yarkin, Elsie Fisher, Mark Burnham

'Operation Mincemeat' 

Director: John Madden 

 

Cast: Colin Firth, Matthew Macfayden, Kelly Macdonald and Penelope Wilton

 

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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.”

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Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

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The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

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