According to the World Bank, Oman has seen a dramatic surge from 42.67 years in 1960 to 77.39 years in 2017. Bloomberg
Japan has registered a rise in life expectancy from 67.67 years to 84.10 years in the same time period. Reuters
An ageing population means that Japan’s workforce must adapt. Seniors are everywhere these days, from wrinkled men waving glow sticks at construction sites to retirement-age women repairing clothes at seniors’ work centres. AFP
Japan hopes robots will make up for a shortfall in carers. In this photo, for instance, a resident reads a book during a session with Paro, a robot seal, at Shin-tomi nursing home in Tokyo. Reuters
Robots can do some things well, although the artificial intelligence behind them is a work in progress. Reuters
Noriaki Iwashima looks out of a coffin during an end-of-life seminar held by Japan’s largest retailer Aeon Co in Tokyo. Funeral arrangements are normally left to those who have been left behind but the latest trend in Japan, which literally translates to “End of life” preparations, is for the ageing to prepare their own funerals and graves before they set off on their journey to the great beyond. Reuters
Other Asian societies, such as in China, find ageing to be a challenge. Elderly people take a nap at a day care centre in Shanghai. Nursing homes are not an option for most Chinese. The few nursing homes in China supply only 22 beds for every 1,000 seniors, and most are too expensive for the average family. AP Photo
Owing to the tremendous advancements in science and modern medicine, average life expectancy has increased significantly over the past decades. According to the World Bank, Oman has seen a dramatic surge from 42.67 years in 1960 to 77.39 years in 2017. Similarly, Japan has registered a rise in life expectancy from 67.67 years to 84.10 years in the same time period.
Undoubtedly, this is a remarkable achievement for humanity in the 21st century. We must, however, take into consideration some other facts and figures to understand the full extent of the impact a higher life expectancy may have on society as a whole.
Along with an increase in life expectancy, we are also witnessing a drastic decline in birth rates across the globe. Oman has experienced a drop from 7.25 births per woman in 1960 to 2.92 in 2017, according to the World Bank, and Japan has seen a decline from 2.00 births per woman to 1.43 in the same time period.
The implications of an ageing population include a spike in healthcare costs, rising care-giving expenditure, a decline in the percentage of working individuals and subsequently lower rates of economic growth. In addition, there is a strain on social insurance programmes and pension systems that support the elderly.
Japan is currently the "oldest" country in the world. In 2019, approximately 28 per cent of Japan’s population was over the age of 65, with this demographic group forecasted to account for 40 per cent of the country’s population by 2060. However, the government and private sector have been working relentlessly for several decades now to overcome the effects this ageing population has on the economy.
In the year 2000, the Japanese government rolled out Long-Term Care Insurance (LTCI), a public programme that supports senior citizens aged 65 and above. The scheme is funded through charging a premium from citizens that are 40 years and above, who contribute a percentage that is determined by their income. LTCI provides senior citizens a range of benefits including institutional, home and community-based services that are delivered through a care manager.
Citizens registered with the programme can access services through care managers or service providers for a small co-payment fee. Municipalities are responsible for running the programmes in their respective districts, and engage with providers from both public and private sectors in doing so. At the same time, the federal government is in charge of stipulating the fees levied to ensure fair charges.
Of course, this system is not perfect and brings forth a series of challenges such as long waiting lists and a shortfall in the number of workers in the healthcare industry. However, it has taken the country forward in the right direction and continues to successfully deliver a myriad essential resources to elderly members of the community.
In addition, the government has also incentivised women, who either chose not to enter the workforce, or took breaks from their professional lives, to re-enter the workforce and contribute towards economic progress.
Organisations in the private sector have also offered opportunities to this ageing population and created suitable roles to integrate them into workplaces. For example, Lawson Inc, a convenience store chain in Tokyo has created a hybrid store that it has branded a "seniors’ salon". A section of the store is fitted out with a blood pressure monitor, and a team of social workers to support the elderly, and also to distribute leaflets and information on relevant healthcare services. The store also features a dedicated section of specialist products targeting the needs of senior citizens.
Furthermore, Lawson has also increased the maximum age limit for its franchisees and is offering part-time jobs for senior citizens, who can work limited hours as their health permits.
Given the decline in global birth rates and the advancements in health care, ageing populations are a concern for most nations. While Japan has set some excellent benchmarks for the rest of the world, the GCC region would do well to look inwards and see how we can utilise our individual strengths and provide creative solutions to reduce the strain of an ageing population on our regional economies.
Engaging senior citizens in roles tailored to their capabilities can add a new stream of talent for any organisation
Formal government programmes such as LTCI are undoubtedly very effective in delivering essential services and support to seniors. However, I believe the private sector has a wealth of opportunities that can be explored.
Engaging senior citizens in roles tailored to their capabilities can add a new stream of talent for any organisation. Products and services can be customised to suit the needs of the elderly, and designed to empower them to become active contributors to society.
Ageing populations are a pressing issue and we must follow Japan’s example and plan ahead for the upcoming decades. With the right resources and a clear blueprint, we will be able to care for our citizens across all ages while also maintaining steady economic growth.
Mohammed Alardhi is executive chairman of Investcorp and chairman of Bank Sohar, and was the longest-serving Omani head of the Royal Air Force of Oman
The specs
Engine: 3.9-litre twin-turbo V8
Power: 640hp
Torque: 760nm
On sale: 2026
Price: Not announced yet
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.”
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
If you go...
Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Key findings of Jenkins report
Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
The specs
Price: From Dh180,000 (estimate)
Engine: 2.0-litre turbocharged and supercharged in-line four-cylinder
Inform the staff in advance of your child’s likes and dislikes.
If you need some extra time to talk to the teachers, make an appointment a few days in advance, rather than attempting to chat on your child’s first day
The longer you stay, the more upset your child will become. As difficult as it is, walk away. Say a proper goodbye and reassure your child that you will be back
Be patient. Your child might love it one day and hate it the next
Stick at it. Don’t give up after the first day or week. It takes time for children to settle into a new routine.And, finally, don’t feel guilty.
Second Test
In Dubai
Pakistan 418-5 (declared)
New Zealand 90 and 131-2 (follow on)
Day 3: New Zealand trail by 197 runs with 8 wickets remaining
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Key findings
Over a period of seven years, a team of scientists analysed dietary data from 50,000 North American adults.
Eating one or two meals a day was associated with a relative decrease in BMI, compared with three meals. Snacks count as a meal. Likewise, participants who ate more than three meals a day experienced an increase in BMI: the more meals a day, the greater the increase.
People who ate breakfast experienced a relative decrease in their BMI compared with “breakfast-skippers”.
Those who turned the eating day on its head to make breakfast the biggest meal of the day, did even better.
But scrapping dinner altogether gave the best results. The study found that the BMI of subjects who had a long overnight fast (of 18 hours or more) decreased when compared even with those who had a medium overnight fast, of between 12 and 17 hours.
Top financial tips for graduates
Araminta Robertson, of the Financially Mint blog, shares her financial advice for university leavers:
1. Build digital or technical skills: After graduation, people can find it extremely hard to find jobs. From programming to digital marketing, your early twenties are for building skills. Future employers will want people with tech skills.
2. Side hustle: At 16, I lived in a village and started teaching online, as well as doing work as a virtual assistant and marketer. There are six skills you can use online: translation; teaching; programming; digital marketing; design and writing. If you master two, you’ll always be able to make money.
3. Networking: Knowing how to make connections is extremely useful. Use LinkedIn to find people who have the job you want, connect and ask to meet for coffee. Ask how they did it and if they know anyone who can help you. I secured quite a few clients this way.
4. Pay yourself first: The minute you receive any income, put about 15 per cent aside into a savings account you won’t touch, to go towards your emergency fund or to start investing. I do 20 per cent. It helped me start saving immediately.
The specs: 2018 Mercedes-Benz GLA
Price, base / as tested Dh150,900 / Dh173,600
Engine 2.0L inline four-cylinder
Transmission Seven-speed automatic
Power 211hp @ 5,500rpm
Torque 350Nm @ 1,200rpm
Fuel economy, combined 6.4L / 100km
England World Cup squad
Eoin Morgan (capt), Moeen Ali, Jofra Archer, Jonny Bairstow, Jos Buttler (wkt), Tom Curran, Liam Dawson, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, James Vince, Chris Woakes, Mark Wood
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
Secret Pigeon Service: Operation Colomba, Resistance and the Struggle to Liberate Europe Gordon Corera, Harper Collins
