Congratulations to the captain and crew of Emirates Flight EK521 for handling the crisis efficiently (Plane catches fire at Dubai airport; Emirates confirms 'incident', August 4).
The Dubai International Airport emergency response team also deserves applause for their efficiency in handling the situation. Emirates’ crisis management and communications team also set an example for others to follow.
Everyone will agree that crisis management is not an easy task these days, especially considering that rumour spreads like wildfire through social media.
The airline came up with timely statements and updates to avoid any rumour. Lastly, I salute the fireman, Jassim Al Baloushi, for his act of bravery. May his soul rest in peace.
Ramesh Menon, Abu Dhabi
It's sad that a fireman lost his life trying to save others (Firefighter dies responding to Emirates plane fire at Dubai airport, August 4).
I offer my condolences to his family.
Dorothy Buffe-Tolentino, Abu Dhabi
As tragic as it was, the mishap taught us one thing that one person can sacrifice his life to save the world (Firefighter dies responding to Emirates plane fire at Dubai airport, August 4).
The Holy Quran comes to life when it says that when you save one soul you save all of humanity. In this case one brave Emirati just did that at Dubai airport.
Name withheld by request
It’s sad that emergency services personnel have to risk their lives for others.
May the soul of Al Baloushi rest in peace.
Carmella Hunt, Abu Dhabi
I salute Al Baloushi for rendering an excellent service. He paid the ultimate price and surely will not be forgotten.
Bruce Gudgeon, South Africa
This is sad news. But I am surprised that there is no article praising the pilot for safely getting the plane on the ground.
Sam Vince, Abu Dhabi
France can follow LA model
In reference to Colin Randall's opinion piece France needs a plan to stop radicalisation of youth (August 3), the French authorities should study the Crash (Community Resources Against Street Hoodlums) programme used by the Los Angeles police department to combat gang crime in LA. It gave the police additional powers of detaining suspects and holding them for a period of time.
Randall Mohammed, Dubai
Minivans are not the problem
Your video of last week’s accident on Emirates Road that claimed seven lives was shocking.
However, vans or minivans are no longer more dangerous than other vehicles, even though people are calling for a ban on them. It’s poor and usually impatient driving that is killing people.
Michael Dowds, Dubai
The problem is not the minivan but bad driving. Bad drivers can be in lorries, buses and cars in general.
Richard Gilbert Adams Jr, Dubai
Surgery should be last option
I agree that it is often not necessary to do knee-replacement surgery (Knee operations for UAE's elderly 'expensive and unnecessary', August 1). In Abu Dhabi, doctors are quick to propose knee and hip surgery. This is not the case in Bangkok and Paris. Surgery is the ultimate option. Not the first option as it is too often considered here.
Florence Rusconi, Abu Dhabi
Dr Samih Tarabichi has rightly pointed out that with flexible insurance options, patients could be manipulated.
However, the co-pay policy may prevent this from happening in the future.
Changes or not, health facilities should never be misused.
Name withheld by request
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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SERIES INFO
Afghanistan v Zimbabwe, Abu Dhabi Sunshine Series
All matches at the Zayed Cricket Stadium, Abu Dhabi
Test series
1st Test: Zimbabwe beat Afghanistan by 10 wickets
2nd Test: Wednesday, 10 March – Sunday, 14 March
Play starts at 9.30am
T20 series
1st T20I: Wednesday, 17 March
2nd T20I: Friday, 19 March
3rd T20I: Saturday, 20 March
TV
Supporters in the UAE can watch the matches on the Rabbithole channel on YouTube
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.”
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
Sunday's Super Four matches
Dubai, 3.30pm
India v Pakistan
Abu Dhabi, 3.30pm
Bangladesh v Afghanistan
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Pakistan T20 series squad
Sarfraz Ahmed (captain), Fakhar Zaman, Ahmed Shahzad, Babar Azam, Shoaib Malik, Mohammed Hafeez, Imad Wasim, Shadab Khan, Mohammed Nawaz, Faheem Ashraf, Hasan Ali, Amir Yamin, Mohammed Amir (subject to fitness clearance), Rumman Raees, Usman Shinwari, Umar Amin
UAE currency: the story behind the money in your pockets
The specs
Engine: 3.6 V6
Transmission: 8-speed auto
Power: 295bhp
Torque: 353Nm
Price: Dh155,000
On sale: now