In the past few years, the number of commuters in the UAE has roughly doubled, putting more strain on the public transport network.
However, at the end of the day, it is the responsibility of all commuters to make the journey for themselves and other people as comfortable as possible.
The least we can do on buses and the Metro is to be courteous and considerate towards fellow passengers.
However, I often see people hogging the poles that are there for the use of everybody who does not have a seat.
If some people were more conscious of their own actions, things would be a lot easier for everyone.
Fatima Suhail, Sharjah
Labourers must have insurance
It was painful to read about the labourer who was injured at work more than a year ago and remains bedridden (Paralysed Abu Dhabi construction worker seeks Dh1m compensation, May 4).
The incident highlights the importance of companies having insurance cover for their expatriate workforce.
Construction and maintenance can be challenging professions and it is sad that those who work in them don’t get as much support as needed when it comes to health and medical issues.
Safety-related issues are common in these sectors and companies must ensure that they take the best possible care of their workers.
The relevant authorities should also require regular verification of employers’ safety compliance.
Ramachandran Nair, Oman
Cinema should be preserved
I would like to comment on the editorial, The curtain falls on Dubai's Golden Cinema (May 2).
The Golden Cinema was “independent” in the sense that it was not attached to a hotel or a mall. Perhaps a better word to describe it would be “stand-alone”.
It did not screen independent, alternative or art house films, but popular mainstream fare churned out by southern India’s film industry.
As for independent/art house films in general, many galleries and other small venues already screen them. Is there a viable paying market for those genres that would justify a dedicated multiplex? I believe the answer is “not yet”.
All the same, I think the Golden Cinema should be preserved as a historical landmark, and should continue to serve the communities who live and work in creek-side Dubai.
Sohan Dsouza, Dubai
Credit theft is too common
I understand the situation described by Brett Debritz in the Your Money blog post, When your UAE bank is really there for you (May 3).
I have twice had my credit card details stolen. The first time was many years ago. It happened with my American Express card and the transactions took place at Singapore’s Changi Airport after my flight had departed. I received a quick refund.
The second time was in India in 2008. I was living and working near Delhi but my Standard Chartered Visa card showed 10 substantial top-ups for different mobile phone numbers – all made in Mumbai.
I got my money back but it took several months.
Rory Keelan, Dubai
I had the same experience with ENBD. All the false transactions were reversed within 48 hours of my filling out a form. There were no issues and it was all done via email and phone.
Adam H, Dubai
They stole Dh36,000 from me. It seems I bought some aluminium from China.
It took 60 or so days, but I got all the money back except some interest, which was later refunded.
It was nasty, I felt violated.
AN, Abu Dhabi
Window tinting rules are ignored
I refer to Playing it cool: through the looking glass of car window tinting (April 22).
I still struggle to understand how the police allow tinting in excess of 30 per cent.
In many countries it is illegal for the driver to conceal his or her identity from other road users. But in the Middle East, not just the UAE, many cars have a window tint in excess of the 30 per cent maximum.
This raises the question: why are window-tinting companies allowed to install these films – especially when it comes to the front windscreen?
J Millward, UK
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.”
OPINIONS ON PALESTINE & ISRAEL
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Biography
Favourite Meal: Chicken Caesar salad
Hobbies: Travelling, going to the gym
Inspiration: Father, who was a captain in the UAE army
Favourite read: Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter
Favourite film: The Founder, about the establishment of McDonald's
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
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
UAE currency: the story behind the money in your pockets
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
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