Sad businessman sitting head in hands thinking about destitution and difficulty on the bed in the dark bedroom with low light environment, dramatic concept. Getty Images
Sad businessman sitting head in hands thinking about destitution and difficulty on the bed in the dark bedroom with low light environment, dramatic concept. Getty Images
Sad businessman sitting head in hands thinking about destitution and difficulty on the bed in the dark bedroom with low light environment, dramatic concept. Getty Images
Sad businessman sitting head in hands thinking about destitution and difficulty on the bed in the dark bedroom with low light environment, dramatic concept. Getty Images

The UAE has made great strides in addressing mental health problems


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Winston Churchill called it “the black dog”. To Sylvia Plath, it was “this dark thing that sleeps in me”. Manic depression is only one of the plethora of mental illnesses that can debilitate any of us at almost any stage in our lives. Our technological progress over the last few decades can blind us to the fact that our understanding of the human mind is still at a rudimentary stage. So, alas, is the empathy accorded to the millions of men and women across the world who succumb to mental illness. All the talk about the urgent need for tolerance and understanding has not stripped away the stigma that still shrouds mental illness.

In such circumstances, is it any wonder that sufferers are reluctant, even afraid sometimes, to come forward and seek help? The UAE has made laudable strides in expanding the provision of services. Yet detailed statistics are difficult to come by because people are unwilling to open up. As The National reported on Tuesday, the World Mental Health Day, psychiatrists and psychologists believe the services currently on offer are "suboptimal".

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Editorial: Mental-health issues need serious attention

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In addition to the absence of reliable data, mental health care in this country is also compromised by the lack of comprehensive insurance coverage and gaps in social services and inpatient facilities. Expatriates living on their own are more likely to experience anxiety and depression, but mental illness targets people of all nationalities. Sixty-five per cent of the outpatients who receive treatment at Al Ain Hospital's psychiatric department are Emiratis. And according to a survey by the World Health Organisation, 13 per cent of UAE school students aged between 13 and 15 have seriously considered attempting suicide.

The existing legal framework needs adjusting to the scale of the challenge before it. A new Mental Health Act, which has been in gestation for three years and is expected to come into effect in early 2018, will fill some of the loopholes. It will, among other things, increase awareness of mental illness while integrating the provision of care across private- and public-sector hospitals. Medical teams will also be able to deal directly with patients who have attempted suicide. Police will continue to be able to intervene to deter people from taking their own lives, but persons who suffer from mental illness will no longer face imprisonment and/or fines for attempting suicide.

There is a crisis in global mental health care. The UAE, which was one of the first countries in the region to recognise mental illness, is now intensifying its efforts to deal with it. But the responsibility should not have to be the Government's alone. Private companies must put in place measures that encourage employees to come forward without fear. The LightHouse Arabia Centre in Dubai is pioneering new methods, such as Mental Health First Aid, to help the private sector reach out to and aid employees. Attitudes are changing. But more can, and must, be done.

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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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What are the regulations?
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Stuck in a job without a pay rise? Here's what to do

Chris Greaves, the managing director of Hays Gulf Region, says those without a pay rise for an extended period must start asking questions – both of themselves and their employer.

“First, are they happy with that or do they want more?” he says. “Job-seeking is a time-consuming, frustrating and long-winded affair so are they prepared to put themselves through that rigmarole? Before they consider that, they must ask their employer what is happening.”

Most employees bring up pay rise queries at their annual performance appraisal and find out what the company has in store for them from a career perspective.

Those with no formal appraisal system, Mr Greaves says, should ask HR or their line manager for an assessment.

“You want to find out how they value your contribution and where your job could go,” he says. “You’ve got to be brave enough to ask some questions and if you don’t like the answers then you have to develop a strategy or change jobs if you are prepared to go through the job-seeking process.”

For those that do reach the salary negotiation with their current employer, Mr Greaves says there is no point in asking for less than 5 per cent.

“However, this can only really have any chance of success if you can identify where you add value to the business (preferably you can put a monetary value on it), or you can point to a sustained contribution above the call of duty or to other achievements you think your employer will value.”

 

Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes. 
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com

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Rating: 4/5

Day 1 results:

Open Men (bonus points in brackets)
New Zealand 125 (1) beat UAE 111 (3)
India 111 (4) beat Singapore 75 (0)
South Africa 66 (2) beat Sri Lanka 57 (2)
Australia 126 (4) beat Malaysia -16 (0)

Open Women
New Zealand 64 (2) beat South Africa 57 (2)
England 69 (3) beat UAE 63 (1)
Australia 124 (4) beat UAE 23 (0)
New Zealand 74 (2) beat England 55 (2)

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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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UAE currency: the story behind the money in your pockets
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