A vertical farming facility that is equipped to harvest three tonnes (2,700 kg) of herbicide-free produce. Courtesy Emirates
A vertical farming facility that is equipped to harvest three tonnes (2,700 kg) of herbicide-free produce. Courtesy Emirates
A vertical farming facility that is equipped to harvest three tonnes (2,700 kg) of herbicide-free produce. Courtesy Emirates
A vertical farming facility that is equipped to harvest three tonnes (2,700 kg) of herbicide-free produce. Courtesy Emirates

Vertical farming is the future of agriculture in the water-scarce Middle East


  • English
  • Arabic

There are plenty of reasons why we should all care about food security. Millions of people go hungry every day, commodity prices are rising, and we have seen that the threat of climate change and weather-related disasters can destabilise even the most resilient supply chains.

While the GCC imports 85 per cent of the food, it consumes approximately $29.5 billion per year. There is no doubt that economic and political stability provide a level of food security to the region.

But the challenges of scorching temperatures, limited water supply and finite arable land need to be addressed through an innovation-driven approach to food security. And one such innovation is vertical farming, a revolution in food technology that holds immense promise.

Adopting such an approach will provide greater access to safe, nutritious and affordable food. It would create thousands of jobs as well as abundant investment opportunities and environmental gains.

It would also contribute to the UAE’s new Operation 300bn strategy to transform the country into a manufacturing powerhouse by bolstering our industrial dynamism.

The technology is highly scalable, energy-efficient and requires less water and land than traditional agriculture. Vertical farming also produces a year-round yield and being indoors with regulated conditions, remains unaffected by the weather.

The UAE has made it clear that it wants to become a world leader for innovation-driven food security by 2051. Given the multiple benefits for the region, it is the future of agriculture in the Middle East. The focus in this part of the world is on technology-enabled production, international trade, partnerships and policies that enhance nutrition and cut food waste.

The idea behind the UAE's Food Security Strategy is to create more jobs, increase agricultural production and boost economic returns. Thus the country’s model for innovation-driven food security needs to focus on indoor farming.

Inside Badia Farms, established by entrepreneur Omar Al Jundi and British agricultural expert Grahame Dunling, July 25, 2018, Dubai. Reem Mohammed / The National
Inside Badia Farms, established by entrepreneur Omar Al Jundi and British agricultural expert Grahame Dunling, July 25, 2018, Dubai. Reem Mohammed / The National

The indoor farms required for vertical farming are already being built. It is now just a matter of scaling them up so the region can reduce its import dependency and in doing so, create smaller, more resilient and localised supply chains.

Growing fruits and vegetables in controlled environments will also protect crops from locust outbreaks

The UAE can cut food loss by creating an ecosystem to support vertical farming. The Food and Agricultural Organisation estimates that up to one-third of all food produced globally is lost or wasted from gate to plate. Food reaches the end consumer through a complex chain of production, packaging, processing, distribution and retail – and each point represents a risk for food to be spoilt.

There is also the environmental burden: food waste and food loss affect climate change. Huge volumes of greenhouse gases such as carbon dioxide are used each year to produce, process, store, transport and buy food that ends up in the bin – much of it in landfills that produce methane gas, 28 times more potent than carbon dioxide.

On the bright side, several companies have shown an interest in utilising this agricultural waste to create high-value by-products such as bio-oil, livestock feed and fertiliser, to minimise discarded produce and move towards a circular economy.

Growing micro herbs, leafy greens, fruits and vegetables in controlled environments will also protect crops from – what’s been dubbed a ‘crisis-within-a-crisis’ – the worst locust outbreak in decades. East Africa saw its worst swarms of locusts in decades last year.

The marauding insects were spotted in Kenya, Ethiopia, Uganda, Somalia, Eritrea, India, Pakistan, Iran, Yemen, Oman and Saudi Arabia. High winds also carried them to Dubai and Abu Dhabi, where pest control teams quickly neutralised the threat. But a swarm of 80 million locusts can easily consume enough food to feed 35,000 people a day. The risk emphasises the need for vertical farming because crops can be grown indoors in a safe environment.

Just like the fruits and vegetables they grow, food producers need a fertile ecosystem to maintain efficiency from farm to fork. As well as a business-friendly environment that cuts red tape and promotes laissez-faire economics, they need high-quality infrastructure so that goods can move fast from company to consumer.

For perishable goods, cold-chain warehouses are essential. A temperature-controlled supply chain with a connected series of refrigerated production, storage and distribution systems helps maintain freshness, minimises food loss and mitigates the environmental impact. This is important for local and global food trade.

And with its strategic geographical location and logistics infrastructure, Dubai is a conduit through which goods and commodities flow freely from all around the world. Its political and economic stability has continued to maintain food security. But the Covid-19 pandemic has demonstrated the need to ensure people in all seasons can buy food at affordable prices. The UAE has been able to maintain access to nutritious food and ongoing free trade negotiations with partners such as China, India, the EU and South American trade bloc Mercosur will only strengthen this position.

Still, delivering on the promise of innovation-driven food security requires a holistic approach. This includes scaling up vertical farming to create highly-skilled jobs, unlock investment opportunities. It will help us progress towards a future in which everyone in the UAE, at all times of the year, has access to safe, affordable and nutritious food.

Saud Abu Al-Shawareb is the managing director of Dubai Industrial City

Leap of Faith

Michael J Mazarr

Public Affairs

Dh67
 

Results

2.15pm: Handicap Dh80,000 1,950m

Winner: Hello, Tadhg O’Shea (jockey), Ali Rashid Al Raihi (trainer).

2.45pm: Handicap Dh90,000 1,800m

Winner: Right Flank, Pat Dobbs, Doug Watson.

3.15pm: Handicap Dh115,000 1,000m

Winner: Leading Spirit, Richard Mullen, Satish Seemar.

3.45pm: Jebel Ali Mile Group 3 Dh575,000 1,600m

Winner: Chiefdom, Royston Ffrench, Salem bin Ghadayer.

4.15pm: Handicap Dh105,000 1,400m

Winner: Ode To Autumn, Patrick Cosgrave, Satish Seemar.

4.45pm: Shadwell Farm Conditions Dh125,000 1,200m

Winner: Last Surprise, James Doyle, Simon Crisford.

5.15pm: Handicap Dh85,000 1,200m

Winner: Daltrey, Sandro Paiva, Ali Rashid Al Raihi.

 

 

French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.

The Travel Diaries of Albert Einstein The Far East, Palestine, and Spain, 1922 – 1923
Editor Ze’ev Rosenkranz
​​​​​​​Princeton

SERIE A FIXTURES

Saturday (All UAE kick-off times)

Cagliari v AC Milan (6pm)

Lazio v Napoli (9pm)

Inter Milan v Atalanta (11.45pm)

Sunday

Udinese v Sassuolo (3.30pm)

Sampdoria v Brescia (6pm)

Fiorentina v SPAL (6pm)

Torino v Bologna (6pm)

Verona v Genoa (9pm)

Roma V Juventus (11.45pm)

Parma v Lecce (11.45pm)

 

 

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

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

Dubai World Cup Carnival Thursday race card

6.30pm: Dubai Millennium Stakes Group Three US$200,000 (Turf) 2,000m
7.05pm: Handicap $135,000 (T) 1,600m​​​​​​​
7.40pm: UAE Oaks Group Three $250,000 (Dirt) 1,900m​​​​​​​
8.15pm: Zabeel Mile Group Two $250,000 (T) 1,600m​​​​​​​
8.50pm: Meydan Sprint Group Two $250,000 (T) 1,000m​​​​​​​
9.25pm: Handicap $135,000 (D) 1,400m
10pm: Handicap $135,000 (T) 1,600m

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
Racecard

6.35pm: The Madjani Stakes – Group 2 (PA) Dh97,500 (Dirt) 1,900m 

7.10pm: Evidenza – Handicap (TB) Dh87,500 (D) 1,200m 

7.45pm: The Longines Conquest – Maiden (TB) Dh82,500 (D) 2,000m 

8.20: The Longines Elegant – Conditions (TB) Dh82,500 (D) 

8.35pm: The Dubai Creek Mile – Listed (TB) Dh132,500 (D) 1,600m 

9.30pm: Mirdif Stakes – Conditions (TB) Dh120,000 (D) 1,400m 

10.05pm: The Longines Record – Handicap (TB) Dh87,500 (D) 1,900m  

The specs: 2017 Porsche 718 Cayman

Price, base / as tested Dh222,500 / Dh296,870

Engine 2.0L, flat four-cylinder

Transmission Seven-speed PDK

Power 300hp @ 6,500rpm

Torque 380hp @ 1,950rpm

Fuel economy, combined 6.9L / 100km

The specs: 2018 Opel Mokka X

Price, as tested: Dh84,000

Engine: 1.4L, four-cylinder turbo

Transmission: Six-speed auto

Power: 142hp at 4,900rpm

Torque: 200Nm at 1,850rpm

Fuel economy, combined: 6.5L / 100km

Match statistics

Abu Dhabi Harlequins 36 Bahrain 32

 

Harlequins

Tries: Penalty 2, Stevenson, Teasdale, Semple

Cons: Stevenson 2

Pens: Stevenson

 

Bahrain

Tries: Wallace 2, Heath, Evans, Behan

Cons: Radley 2

Pen: Radley

 

Man of the match: Craig Nutt (Harlequins)

RESULTS
%3Cp%3E%3Cstrong%3E5pm%3C%2Fstrong%3E%20Al%20Shamkha%20%E2%80%93%20Maiden%20(PA)%20Dh80%2C000%20(Turf)%201%2C400m%3Cbr%3E%3Cstrong%3EWinner%3C%2Fstrong%3E%20Ruwani%2C%20Moatasem%20Al%20Balushi%20(jockey)%2C%20Abdallah%20Al%20Hammadi%20(trainer)%3Cbr%3E%3Cstrong%3E5.30pm%3C%2Fstrong%3E%3A%20Khalifa%20City%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C400m%3Cbr%3E%3Cstrong%3EWinner%20%3C%2Fstrong%3EAF%20Heraqle%2C%20Bernardo%20Pinheiro%2C%20Qaiss%20Aboud%3Cbr%3E%3Cstrong%3E6pm%3C%2Fstrong%3E%20Masdar%20City%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C600m%3Cbr%3E%3Cstrong%3EWinner%3C%2Fstrong%3E%20AF%20Yatwy%2C%20Patrick%20Cosgrave%2C%20Nisren%20Mahgoub%3Cbr%3E%3Cstrong%3E6.30pm%3C%2Fstrong%3E%20Wathba%20Stallions%20Cup%20%E2%80%93%20Handicap%20(PA)%20Dh70%2C000%20(T)%202%2C200m%3Cbr%3E%3Cstrong%3EWinner%3C%2Fstrong%3E%20AF%20Alzahi%2C%20Tadhg%20O%E2%80%99Shea%2C%20Ernst%20Oertel%3Cbr%3E%3Cstrong%3E7pm%3C%2Fstrong%3E%20Emirates%20Championship%20%E2%80%93%20Group%201%20(PA)%20Dh1%2C000%2C000%20(T)%202%2C200m%3Cbr%3E%3Cstrong%3EWinner%3C%2Fstrong%3E%20Ajrad%20Athbah%2C%20Bernardo%20Pinheiro%2C%20Majed%20Al%20Jahouri%3Cbr%3E%3Cstrong%3E7.30pm%3C%2Fstrong%3E%20Shakbout%20City%20%E2%80%93%20Handicap%20(TB)%20Dh80%2C000%20(T)%202%2C400m%3Cbr%3E%3Cstrong%3EWinner%3C%2Fstrong%3E%20Webinar%2C%20Tadhg%20O%E2%80%99Shea%2C%20Bhupat%20Seemar%3C%2Fp%3E%0A
FA Cup quarter-final draw

The matches will be played across the weekend of 21 and 22 March

Sheffield United v Arsenal

Newcastle v Manchester City

Norwich v Derby/Manchester United

Leicester City v Chelsea

HERO%20CUP%20TEAMS
%3Cp%3E%3Cstrong%3E%3Cins%3EContinental%20Europe%3Cbr%3E%3C%2Fins%3E%3C%2Fstrong%3EFrancesco%20Molinari%20(c)%3Cbr%3EThomas%20Detry%3Cbr%3ERasmus%20Hojgaard%3Cbr%3EAdrian%20Meronk%3Cbr%3EGuido%20Migliozzi%3Cbr%3EAlex%20Noren%3Cbr%3EVictor%20Perez%3Cbr%3EThomas%20Pieters%3Cbr%3ESepp%20Straka%3Cbr%3EPlayer%20TBC%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E%3Cins%3EGreat%20Britain%20%26amp%3B%20Ireland%3C%2Fins%3E%3C%2Fstrong%3E%3Cbr%3ETommy%20Fleetwood%20(c)%3Cbr%3EEwen%20Ferguson%3Cbr%3ETyrrell%20Hatton%3Cbr%3EShane%20Lowry%3Cbr%3ERobert%20MacIntyre%3Cbr%3ESeamus%20Power%3Cbr%3ECallum%20Shinkwin%3Cbr%3EJordan%20Smith%3Cbr%3EMatt%20Wallace%3Cbr%3EPlayer%20TBC%3C%2Fp%3E%0A
Dhadak

Director: Shashank Khaitan

Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana

Stars: 3

It Was Just an Accident

Director: Jafar Panahi

Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr

Rating: 4/5

PROFILE OF STARZPLAY

Date started: 2014

Founders: Maaz Sheikh, Danny Bates

Based: Dubai, UAE

Sector: Entertainment/Streaming Video On Demand

Number of employees: 125

Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners

Tenet

Director: Christopher Nolan

Stars: John David Washington, Robert Pattinson, Elizabeth Debicki, Dimple Kapadia, Michael Caine, Kenneth Branagh 

Rating: 5/5

UAE currency: the story behind the money in your pockets
Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
The%C2%A0specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3Etwo%20permanent%20magnet%20synchronous%20motors%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3Etwo-speed%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E625hp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E850Nm%3Cbr%3E%3Cstrong%3ERange%3A%20%3C%2Fstrong%3E456km%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh737%2C480%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
RESULTS

Welterweight

Tohir Zhuraev (TJK) beat Mostafa Radi (PAL)

(Unanimous points decision)

Catchweight 75kg

Anas Siraj Mounir (MAR) beat Leandro Martins (BRA)

(Second round knockout)

Flyweight (female)

Manon Fiorot (FRA) beat Corinne Laframboise (CAN)

(RSC in third round)

Featherweight

Bogdan Kirilenko (UZB) beat Ahmed Al Darmaki

(Disqualification)

Lightweight

Izzedine Al Derabani (JOR) beat Rey Nacionales (PHI)

(Unanimous points)

Featherweight

Yousef Al Housani (UAE) beat Mohamed Fargan (IND)

(TKO first round)

Catchweight 69kg

Jung Han-gook (KOR) beat Max Lima (BRA)

(First round submission by foot-lock)

Catchweight 71kg

Usman Nurmogamedov (RUS) beat Jerry Kvarnstrom (FIN)

(TKO round 1).

Featherweight title (5 rounds)

Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)

(TKO round 1).

Lightweight title (5 rounds)

Bruno Machado (BRA) beat Mike Santiago (USA)

(RSC round 2).

Abu Dhabi traffic facts

Drivers in Abu Dhabi spend 10 per cent longer in congested conditions than they would on a free-flowing road

The highest volume of traffic on the roads is found between 7am and 8am on a Sunday.

Travelling before 7am on a Sunday could save up to four hours per year on a 30-minute commute.

The day was the least congestion in Abu Dhabi in 2019 was Tuesday, August 13.

The highest levels of traffic were found on Sunday, November 10.

Drivers in Abu Dhabi lost 41 hours spent in traffic jams in rush hour during 2019

 

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ESupy%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2021%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EDani%20El-Zein%2C%20Yazeed%20bin%20Busayyis%2C%20Ibrahim%20Bou%20Ncoula%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3EFood%20and%20beverage%2C%20tech%2C%20hospitality%20software%2C%20Saas%0D%3Cbr%3E%3Cstrong%3EFunding%20size%3A%20%3C%2Fstrong%3EBootstrapped%20for%20six%20months%3B%20pre-seed%20round%20of%20%241.5%20million%3B%20seed%20round%20of%20%248%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EBeco%20Capital%2C%20Cotu%20Ventures%2C%20Valia%20Ventures%20and%20Global%20Ventures%3C%2Fp%3E%0A
The Bio

Favourite holiday destination: Either Kazakhstan or Montenegro. I’ve been involved in events in both countries and they are just stunning.

Favourite book: I am a huge of Robin Cook’s medical thrillers, which I suppose is quite apt right now. My mother introduced me to them back home in New Zealand.

Favourite film or television programme: Forrest Gump is my favourite film, that’s never been up for debate. I love watching repeats of Mash as well.

Inspiration: My late father moulded me into the man I am today. I would also say disappointment and sadness are great motivators. There are times when events have brought me to my knees but it has also made me determined not to let them get the better of me.

I Care A Lot

Directed by: J Blakeson

Starring: Rosamund Pike, Peter Dinklage

3/5 stars

Results

5pm: Maiden (PA) Dh80,000 (Turf) 1,000mm, Winners: Mumayaza, Fabrice Veron (jockey), Eric Lemartinel (trainer)

5.30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m, Winners: Sharkh, Pat Cosgrave, Helal Al Alawi

6pm: The President’s Cup Prep - Conditions (PA) Dh100,000 (T) 2,200m, Winner: Somoud, Richard Mullen, Jean de Roualle

6.30pm: Handicap (PA) Dh90,000 (T) 1,600m, Winner: Harrab, Ryan Curatolo, Jean de Roualle

7pm: Abu Dhabi Equestrian Gold Cup - Prestige (PA) Dh125,000 (T) 1,600m, Winner: Hameem, Adrie de Vries, Abdallah Al Hammadi

7.30pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m, Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel

8pm: Maiden (TB) Dh80,000 (T) 1,400m, Winner: Nibras Passion, Bernardo Pinheiro, Ismail Mohammed

RESULTS

5pm Wathba Stallions Cup Maiden (PA) Dh70,000 (Dirt) 1,400m

Winner Munfared, Fernando Jara (jockey), Ahmed Al Mehairbi (trainer)

5.30pm Handicap (PA) Dh70,000 (D) 1,600m

Winner Sawt Assalam, Szczepan Mazur, Ibrahim Al Hadhrami

6pm Maiden (PA) Dh70,000 (D) 1,800m

Winner Dergham Athbah, Pat Dobbs, Mohamed Daggash

6.30pm Handicap (PA) Dh70,000 (D) 1,800m

Winner Rajee, Fernando Jara, Majed Al Jahouri

7pm Conditions (PA) Dh80,000 (D) 1,800m

Winner Kerless Del Roc, Fernando Jara, Ahmed Al Mehairbi

7.30pm Handicap (TB) Dh70,000 (D) 2,000m

Winner Pharoah King, Pat Dobbs, Doug Watson

8pm Conditions (PA) Dh85,000 (D) 2,000m

Winner Sauternes Al Maury, Dane O’Neill, Doug Watson

MATCH INFO

Real Madrid 2

Vinicius Junior (71') Mariano (90 2')

Barcelona 0

The biog

Favourite book: Animal Farm by George Orwell

Favourite music: Classical

Hobbies: Reading and writing

 

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

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.”

Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Neo%20Mobility%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20February%202023%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Abhishek%20Shah%20and%20Anish%20Garg%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Logistics%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Delta%20Corp%2C%20Pyse%20Sustainability%20Fund%2C%20angel%20investors%3C%2Fp%3E%0A
Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Saudi Cup race day

Schedule in UAE time

5pm: Mohamed Yousuf Naghi Motors Cup (Turf), 5.35pm: 1351 Cup (T), 6.10pm: Longines Turf Handicap (T), 6.45pm: Obaiya Arabian Classic for Purebred Arabians (Dirt), 7.30pm: Jockey Club Handicap (D), 8.10pm: Samba Saudi Derby (D), 8.50pm: Saudia Sprint (D), 9.40pm: Saudi Cup (D)