Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. Wam
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. Wam
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. Wam
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. Wam

Cabinet reshuffle sets the right priorities


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I refer to Science comes to the fore in cabinet reshuffle (October 20). The recent announcement gives opportunity for young people in science and technology. The gesture is laudable and will help the UAE play a key role in the future of global information technology. Kudos to Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai.

K Ragavan, India

Success shouldn't be measured by gender. It should be measured by achievement. If you can prove you are the best person for the job then that should be all that matters.

Susan Whitehouse, Abu Dhabi

Saudi royal decree is an important step forward

In reference to Saudis to monitor interpretations of Hadiths (October 20), this is a very good idea. The people will come to know the teaching of the Prophet and of his perfect behaviour and compassion.

Name withheld by request

The curious case of the Taj Mahal

I write in relation to your story in the weekend edition of the paper (BJP officials seek to wipe Taj Mahal off state tourism trail, October 20), the BJP officials are either very naive or very smart.

Name withheld by request

Weinstein revelations are not especially surprising

I refer to your online story Lupita Nyong'o recounts Weinstein massage encounter (October 20). Men from every class and colour do this. Why should anyone be surprised? When are we going to start hearing about the feminist backlash?

Mary Smith, Mali

Two US presidents should reflect a little more

In reference to Former presidents decry state of US under Donald Trump (October 20). It could be argued that those two presidents, George W Bush and Barack Obama, led America into war, planted the seeds for ISIL, created racial divide and led us into a financial crisis. Now the pair of them don't like what's transpiring.

Patricia Estep, US

Trump's Twitter feed makes for a compelling read

I write regarding your opinion article Macron and Trump: improbable social media soul-mates (October 20).  Yes, I guess these two are "soul-mates", but most people read Donald Trump's tweets to see what the great man is going to come out with next, but nobody reads Emmanuel Macron's social media because he is not as compelling as the US president.

Davos Williams, Dubai

We must be relentless in the war on drugs

In reference to Rashmee Roshan Lall's opinion article (In the battle against fake news, we can learn from the war on drugs (October 18), the war on drugs is much more important. Drugs destroy families, societies and nations. We must develop the toughest possible response to the threat of drugs.

Asyah Elisabeth Meel, Abu Dhabi

What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

PRISCILLA
%3Cp%3EDirector%3A%20Sofia%20Coppola%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Cailee%20Spaeny%2C%20Jacob%20Elordi%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A

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.”

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

Company profile

Company: Eighty6 

Date started: October 2021 

Founders: Abdul Kader Saadi and Anwar Nusseibeh 

Based: Dubai, UAE 

Sector: Hospitality 

Size: 25 employees 

Funding stage: Pre-series A 

Investment: $1 million 

Investors: Seed funding, angel investors  

The Porpoise

By Mark Haddon 

(Penguin Random House)
 

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COMPANY%20PROFILE
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RESULTS

Bantamweight:
Zia Mashwani (PAK) bt Chris Corton (PHI)

Super lightweight:
Flavio Serafin (BRA) bt Mohammad Al Khatib (JOR)

Super lightweight:
Dwight Brooks (USA) bt Alex Nacfur (BRA)

Bantamweight:
Tariq Ismail (CAN) bt Jalal Al Daaja (JOR)

Featherweight:
Abdullatip Magomedov (RUS) bt Sulaiman Al Modhyan (KUW)

Middleweight:
Mohammad Fakhreddine (LEB) bt Christofer Silva (BRA)

Middleweight:
Rustam Chsiev (RUS) bt Tarek Suleiman (SYR)

Welterweight:
Khamzat Chimaev (SWE) bt Mzwandile Hlongwa (RSA)

Lightweight:
Alex Martinez (CAN) bt Anas Siraj Mounir (MAR)

Welterweight:
Jarrah Al Selawi (JOR) bt Abdoul Abdouraguimov (FRA)

UAE currency: the story behind the money in your pockets
PRIMERA LIGA FIXTURES

All times UAE ( 4 GMT)

Saturday
Atletico Madrid v Sevilla (3pm) 
Alaves v Real Madrid (6.15pm) 
Malaga v Athletic Bilbao (8.30pm) 
Girona v Barcelona (10.45pm)

Sunday
Espanyol v Deportivo la Coruna (2pm) 
Getafe v Villarreal (6.15pm) 
Eibar v Celta Vigo (8.30pm)
Las Palmas v Leganes (8.30pm)
Real Sociedad v Valencia (10.45pm)

Monday
Real Betis v Levante (11.pm)

Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

UAE currency: the story behind the money in your pockets
While you're here