Regular exercise makes you happier than earning a high salary, new research shows.
Regular exercise makes you happier than earning a high salary, new research shows.
Regular exercise makes you happier than earning a high salary, new research shows.
Regular exercise makes you happier than earning a high salary, new research shows.

Work out when, where and how you want, with ClassPass


Panna Munyal
  • English
  • Arabic

If running on the treadmill or lifting weights week in and week out is the bane of your existence, consider signing up for the latest fitness-pass package that’s launching in Dubai in October.

New York-headquartered ClassPass will partner with “premium gyms and studios in Dubai”, and offer its members access to a multitude of fitness sessions, from CrossFit, high-intensity interval training, strength-training and spinning to yoga, Pilates, barre and even dance classes.

According to CEO Fritz Lanman, studio fitness is booming in Dubai. “ClassPass has [always stood for] variety, flexibility and value. Variety is a huge factor in motivating people to work out and has been a major proponent of our success,” he says. “Our members love to try and experiment with new classes – 90 per cent of users discover new studios for the first time on ClassPass, and 70 per cent try a new genre for the first time.”

ClassPass now has a wait-list link, which will be active until the end of October. Early birds who sign up, using their email address, could receive a free month's subscription for the month of October.

While membership costs are yet to be disclosed, ClassPass operates on a credits-based model. “This provides users with flexibility to suit their fitness needs no matter their budget,” says Lanman. “Classes are dynamically priced based on several factors, including time of day, studio, location, equipment and demand. This allows members to get more classes a month if they book off-peak class times or the option to book higher credit, in-demand classes.”

You can also put your monthly membership on hold at any time, useful for those who travel often Lanman adds: “One of the advantages of our membership is that it’s great for travellers since you can use it in multiple cities worldwide.”

ClassPass operates in more than 50 cities in collaboration with about 10,000 partners, and has been recognised as one of Forbes's "Next Billion Dollar Startups". The Dubai launch was preceded by the ClassPass's Singapore debut.

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TOURNAMENT INFO

Women’s World Twenty20 Qualifier

Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November

UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi

MATCH INFO

Juventus 1 (Dybala 45')

Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')

Red card: Rodrigo Bentancur (Juventus)

The specs

Engine: 3.5-litre V6

Power: 272hp at 6,400rpm

Torque: 331Nm from 5,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.7L/100km

On sale: now

Price: Dh149,000

 

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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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Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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Third Test, Day 2

New Zealand 274
Pakistan 139-3 (61 ov)

Pakistan trail by 135 runs with 7 wickets remaining in the innings

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APPLE IPAD MINI (A17 PRO)

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Biometrics: Touch ID, Face ID

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In the box: iPad mini, USB-C cable, 20W USB-C power adapter

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