Drivers must be taught to respect pedestrians, readers say. Silvia Razgova / The National
Drivers must be taught to respect pedestrians, readers say. Silvia Razgova / The National
Drivers must be taught to respect pedestrians, readers say. Silvia Razgova / The National
Drivers must be taught to respect pedestrians, readers say. Silvia Razgova / The National

Drivers need more training on road rules


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The suggestion to install warning lights to make it safer for pedestrians to cross zebra crossings without traffic lights or a stop sign is useful (Proposed flashing signals for road crossings would help pedestrians, experts say, February 19). But I am afraid that nothing will work until drivers learn to respect the rules of the road.

Driver training and enforcement lie at the heart of every road-related issue.

I would suggest that pedestrian lights be installed once drivers are educated. Otherwise, some more lives will be lost.

Peter Hall, Dubai

Regarding your editorial Drive to boost a pedestrian safety culture (February 21), you risk your life while walking over a zebra crossing.

Most cars will not stop for you and when you are half way across the crossing cars flash at you or honk. Many drivers do not seem to know what a zebra crossing is.

Tracy Brownlie Denison, Abu Dhabi

Many years ago, I was fined Dh500 and received six black points for not stopping at a zebra crossing. Now I always stop at zebra crossings as I was brought up with the Green Cross Code and in a culture that follows it.

In this particular incident, the pedestrian was in the central reservation area and stepped on to the pedestrian crossing as I was driving over it on the pavement side.

When I challenged the behaviour of the pedestrian with the traffic police, they said: “We know, but unfortunately some people don’t know how to use pedestrian crossings.” In other words they basically admitted that I wasn’t in the wrong, yet I had to pay.

This article talks about drivers only. How about educating people that they should look left, then right, then left again quickly to make sure there are no cars?

Name withheld by request

The promise of airships

In general, Lockheed Martin's exclusive reseller of hybrid airships, Hybrid Enterprises, is doing an excellent job of educating potential end-users around the world as to what this new variation of an old technology will offer (Lockheed Martin's airship needs no airport to deliver hundreds of tonnes in Africa, February 21).

Lockheed Martin, together with its British rival, Hybrid Air Vehicles, is set to offer a game-changing capability to a user community that is not yet geared up to operate these giants of the sky.

Here in the Arabian Gulf, work is already ongoing to prepare the way to bring hybrids to the region soon after they achieve type certification in the US and Europe.

Lockheed Martin is slightly behind HAV at present and readers will be able to judge the technology’s benefits for themselves once flight testing in the UK resumes in the next few weeks in what is bound to be a blaze of publicity.

Gregory Gottlieb, Dubai

Why happiness is so important

Regarding Fatima Al Shamsi's opinion article A happiness audit might guide the new minister (February 19), gross national happiness is a much richer objective than GDP or economic growth. In GNH, material well-being is important, but it is also important to enjoy sufficient well-being in things such as community, culture, governance, knowledge and wisdom, health, spirituality and psychological welfare, a balanced use of time and harmony with the environment.

Kathy Lee, Abu Dhabi

In praise of Sidney Poitier

Sidney Poitier is easily one of the best actors to grace the screen at the Bafta award ceremony (Newsmaker: Sidney Poitier, February 21). He is captivating, interesting and connects with the audience in a way few ever have. Add to that the class he showed in incredibly difficult times and the weight he carried as one of the few prominent black actors for decades.

Just reading about him has me ready to watch Blackboard Jungle and To Sir With Love again.

John Francis, US

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THE SPECS

Engine: 3-litre V6

Transmission: eight-speed automatic

Power: 424hp

Torque: 580 Nm

Price: From Dh399,000

On sale: Now

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
THE SPECS

Engine: 1.5-litre, four-cylinder turbo

Transmission: seven-speed dual clutch automatic

Power: 169bhp

Torque: 250Nm

Price: Dh54,500

On sale: now

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

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Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

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.”

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Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5