It is hoped the plan will improve traffic around Coca-Cola Arena and help connectivity with Downtown Dubai. Chris Whiteoak / The National
It is hoped the plan will improve traffic around Coca-Cola Arena and help connectivity with Downtown Dubai. Chris Whiteoak / The National
It is hoped the plan will improve traffic around Coca-Cola Arena and help connectivity with Downtown Dubai. Chris Whiteoak / The National
It is hoped the plan will improve traffic around Coca-Cola Arena and help connectivity with Downtown Dubai. Chris Whiteoak / The National

Dubai to build two bridges to improve City Walk traffic


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Dubai’s Roads and Transport Authority on Sunday announced road improvement plans to improve traffic in the City Walk area of the city.

The busy Al Safa Street will be widened to cut down travel time from 12 minutes to three minutes, increasing the number of lanes from three to four and introducing pedestrian walkways. The scope of it will extend from the junction of Al Safa Street with Sheikh Zayed Road to the junction with Al Wasl Street, more than 1.5 kilometres.

Two new bridges and tunnels will also be constructed, with a combined length of more than three kilometres, doubling the street’s capacity from 6,000 to 12,000 vehicles an hour in both directions.

The first bridge is set to serve traffic coming from Al Wasl Street towards Sheikh Zayed Road and Financial Centre Street while the second bridge will accommodate traffic coming from Al Satwa Road towards Sheikh Zayed Road and Financial Centre Street.

Improving connectivity

“The project serves a vital district renowned for hosting numerous tourism, cultural, and sporting events, and is home to key landmarks such as City Walk and Coca-Cola Arena,” the authority posted on X.

“It also enhances connectivity with Downtown Dubai and nearby developments along Financial Centre Street, an area inhabited by over one million residents,” Mattar Al Tayer, director general of the RTA, added.

It comes as the transport authority works to improve traffic in the emirate at 40 locations over the summer period, with June to September earmarked as the months when workers can make the most progress with road improvement projects.

The work will cover 22 major streets, nine school zones, more than five development areas, and several internal roads in the Tolerance District, Al Khawaneej 2 and Nad Al Sheba.

There will also be traffic enhancements at locations such as Jumeirah Village Circle towards Hessa Street, Ras Al Khor Road, Al Thanya Street, and King Salman bin Abdulaziz Al Saud Street. Additional improvements are to be made to Al Meydan Street, Al Sa’ada Street, Al Asayel Street, and the junction of Al Wasl Street with Al Manara Street.

MATCH INFO

Euro 2020 qualifier

Norway v Spain, Saturday, 10.45pm, UAE

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.

The bio

Studied up to grade 12 in Vatanappally, a village in India’s southern Thrissur district

Was a middle distance state athletics champion in school

Enjoys driving to Fujairah and Ras Al Khaimah with family

His dream is to continue working as a social worker and help people

Has seven diaries in which he has jotted down notes about his work and money he earned

Keeps the diaries in his car to remember his journey in the Emirates

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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.”

Heavily-sugared soft drinks slip through the tax net

Some popular drinks with high levels of sugar and caffeine have slipped through the fizz drink tax loophole, as they are not carbonated or classed as an energy drink.

Arizona Iced Tea with lemon is one of those beverages, with one 240 millilitre serving offering up 23 grams of sugar - about six teaspoons.

A 680ml can of Arizona Iced Tea costs just Dh6.

Most sports drinks sold in supermarkets were found to contain, on average, five teaspoons of sugar in a 500ml bottle.

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Starring: Bruce Willis, Toni Collette, Hayley Joel Osment

Director: M. Night Shyamalan

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  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
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  • Critically assess whether a project’s promises or returns seem too good to be true.
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  • Store funds in hardware wallets as opposed to online exchanges.
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Arsenal's pre-season fixtures

Thursday Beat Sydney 2-0 in Sydney

Saturday v Western Sydney Wanderers in Sydney

Wednesday v Bayern Munich in Shanghai

July 22 v Chelsea in Beijing

July 29 v Benfica in London

July 30 v Sevilla in London

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From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Updated: June 29, 2025, 12:24 PM