Sultan Al Neyadi, UAE Astronaut during his first ‘ A Call with Space’ video chat with the public held at Dubai Opera in Dubai. Pawan Singh / The National
Sultan Al Neyadi, UAE Astronaut during his first ‘ A Call with Space’ video chat with the public held at Dubai Opera in Dubai. Pawan Singh / The National
Sultan Al Neyadi, UAE Astronaut during his first ‘ A Call with Space’ video chat with the public held at Dubai Opera in Dubai. Pawan Singh / The National
Sultan Al Neyadi, UAE Astronaut during his first ‘ A Call with Space’ video chat with the public held at Dubai Opera in Dubai. Pawan Singh / The National


Al Neyadi's space mission is a journey of a lifetime


The National
  • English
  • Arabic

March 31, 2023

Sultan Al Neyadi's remarkable space mission

With reference to the report Sultan Al Neyadi posts tribute to Egypt from International Space Station (March 28): This was an interesting read. Hats off to the UAE astronaut for the feats he is accomplishing on a weekly basis on board the International Space Station. He paid a touching tribute to Egypt, rightly mentioning the old civilisation, the world-famous pyramids and different aspects of Egyptian culture. It is incredible that Al Neyadi is experiencing six months in space. It will be for him a trip of a lifetime. It is also very interesting to read that during his time there he will take part in more than 200 experiments by Nasa and 19 that involve UAE universities. Apart from the scientific work, in conveying such spectacular images – pointing out how the Nile Delta from space resembles a flower from that vantage point – he is making everyone proud, his family, his people, his country and the Arab world at large. Kudos to Al Neyadi.

K Ragavan, Bengaluru, India

Attempts needed to restore peace in the world

With regard to the report Brazil's Bolsonaro will not lead opposition to President Lula (March 30): I respect President Lula. The time may have come for leaders such as him and other non-aligned countries such as Brazil, India, China, Saudi Arabia, and the UAE to get together and prepare a plan to restore peace between Russia and Ukraine. There has been too high a cost. Thousands of civilians, including children have died. Countless Ukrainians have become refugees in foreign lands.

In addition to the massive human cost, the economy of the entire world has gone into a tailspin, due to the war. Russia and Ukraine together produce one-third of the world’s wheat. Ukraine is also a major producer of sunflower oil. Many countries in the Middle East are dependent on Russia and Ukraine for agricultural products. Due to agricultural shortfalls and transport issues, there are shortages of food in many parts of the world and inflation is at an all-time high in many countries.

A protracted war will only have further ramifications across countries, including on the prices of oil, raw materials, commodities and supply chains. We live in a globally interdependent world. Events in any part of the world have an immediate and cascading impact everywhere. Global statecraft could help resolve this issue peacefully. This is the essence of leadership. It would be useful if multiple nations focus on bringing about a ceasefire, rather than taking sides in this ugly battle.

Rajendra Aneja, Dubai

Company%C2%A0profile
%3Cp%3ECompany%3A%20Zywa%3Cbr%3EStarted%3A%202021%3Cbr%3EFounders%3A%20Nuha%20Hashem%20and%20Alok%20Kumar%3Cbr%3EBased%3A%20UAE%3Cbr%3EIndustry%3A%20FinTech%3Cbr%3EFunding%20size%3A%20%243m%3Cbr%3ECompany%20valuation%3A%20%2430m%3C%2Fp%3E%0A
The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

THURSDAY'S ORDER OF PLAY

Centre Court

Starting at 10am:

Lucrezia Stefanini v Elena Rybakina (6)

Aryna Sabalenka (4) v Polona Hercog

Sofia Kenin (1) v Zhaoxuan Yan

Kristina Mladenovic v Garbine Muguruza (5)

Sorana Cirstea v Karolina Pliskova (3)

Jessica Pegula v Elina Svitolina (2)

Court 1

Starting at 10am:

Sara Sorribes Tormo v Nadia Podoroska

Marketa Vondrousova v Su-Wei Hsieh

Elise Mertens (7) v Alize Cornet

Tamara Zidansek v Jennifer Brady (11)

Heather Watson v Jodie Burrage

Vera Zvonareva v Amandine Hesse

Court 2

Starting at 10am:

Arantxa Rus v Xiyu Wang

Maria Kostyuk v Lucie Hradecka

Karolina Muchova v Danka Kovinic

Cori Gauff v Ulrikke Eikeri

Mona Barthel v Anastasia Gasanova

Court 3

Starting at 10am:

Kateryna Bondarenko v Yafan Wang

Aliaksandra Sasnovich v Anna Bondar

Bianca Turati v Yaroslava Shvedova

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.”

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

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

Mane points for safe home colouring
  • Natural and grey hair takes colour differently than chemically treated hair
  • Taking hair from a dark to a light colour should involve a slow transition through warmer stages of colour
  • When choosing a colour (especially a lighter tone), allow for a natural lift of warmth
  • Most modern hair colours are technique-based, in that they require a confident hand and taught skills
  • If you decide to be brave and go for it, seek professional advice and use a semi-permanent colour
Results

Final: Iran beat Spain 6-3.

Play-off 3rd: UAE beat Russia 2-1 (in extra time).

Play-off 5th: Japan beat Egypt 7-2.

Play-off 7th: Italy beat Mexico 3-2.

The years Ramadan fell in May

1987

1954

1921

1888

What She Ate: Six Remarkable Women & the Food That Tells Their Stories
Laura Shapiro
Fourth Estate

The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

At a glance

Fixtures All matches start at 9.30am, at ICC Academy, Dubai. Admission is free

Thursday UAE v Ireland; Saturday UAE v Ireland; Jan 21 UAE v Scotland; Jan 23 UAE v Scotland

UAE squad Rohan Mustafa (c), Ashfaq Ahmed, Ghulam Shabber, Rameez Shahzad, Mohammed Boota, Mohammed Usman, Adnan Mufti, Shaiman Anwar, Ahmed Raza, Imran Haider, Qadeer Ahmed, Mohammed Naveed, Amir Hayat, Zahoor Khan

Updated: March 31, 2023, 3:00 AM