The National's newsroom. Antonie Robertson / The National
The National's newsroom. Antonie Robertson / The National
The National's newsroom. Antonie Robertson / The National
The National's newsroom. Antonie Robertson / The National

Congratulations to The National on a decade of fine journalism


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  • Arabic

In reference to the article by Mina Al-Oraibi A decade of media experimentation, The National at 10 (April 17), congratulations to The National and all of you who work in the esteemed journal on your 10th birthday. The National has always been a very readable and educational newspaper, with high-quality writing and objective journalism.

The layouts are reader-friendly and the articles incisive and analytical. Thanks for your encouragement to people like me who write letters to your journal to express anguish or appreciation on various current issues.

I am also deeply obliged to you for having published columns by my father, Hari Chand Aneja, in the last few years of his life. They were a source of great joy to him and gave him a reason for living life to the fullest.

My best wishes to all of you for the future.

Rajendra Aneja, Dubai

Politics can be a dirty business

I refer to Gavin Esler's op-ed article Who would want to join politics when it is so riven with nasty factions? (16 April): Mr Esler's analysis of today's political world was elaborate and his argument that too few administrators care for ordinary people was persuasive.

Most politicians, sadly, are embroiled in scandal. The Italian voter quoted by Mr Esler illuminates the state we are in. The rot Mr Esler identifies is true not only of the West but also the rest of the world. Today politics is considered a lucrative business in many places and there are so few clean and honest politicians serving the people. A good read.

K Ragavan, Bangalore

We can only hope for peace in our time 

I refer to your story There's only one winner from missile strikes in Damascus by Gareth Browne (April 15): in times such as these, with one conflict after another, we can only remain steadfast, patient and pray for hope and peace.

Usman Iqbal, Sharjah

Have the western powers referred to in this story given thought to who will replace Bashar Al Assad? Another Iraq and Libya-like debacle looms on the horizon, I fear.

Anne McAdam, Abu Dhabi

New volunteering rules are for the greater good

I refer to your article New law bans all volunteering without permission from authorities, Sheikh Mohammed announces (April 15): as with most regulations, the new rules concerning volunteering have been put in place for the safety of the people involved, the people being helped and for the greater good of the community.

From what I understand, the law does not forbid volunteering but tries to place some safety measures around it. Charities can be exploited for illegal purposes and this is why there is such tight control over these activities. Volunteers might need to take the extra step of registering but I am sure this will be relatively easy for most people.

Manal Farrah, Abu Dhabi

How to become a Boglehead

Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.

•   Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.

•   Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.

•   Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.

•   Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.

•   Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.

•   Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.

•   Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.

•   Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.

A timeline of the Historical Dictionary of the Arabic Language
  • 2018: Formal work begins
  • November 2021: First 17 volumes launched 
  • November 2022: Additional 19 volumes released
  • October 2023: Another 31 volumes released
  • November 2024: All 127 volumes completed
Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

Evacuations to France hit by controversy
  • Over 500 Gazans have been evacuated to France since November 2023
  • Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
  • The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
  • Artists and researchers fall under a programme called Pause that began in 2017
  • It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
  • Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
  • Unlike students, they are allowed to bring their families to France

Russia's Muslim Heartlands

Dominic Rubin, Oxford

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.”

Results

6.30pm: The Madjani Stakes (PA) Group 3 Dh175,000 (Dirt) 1,900m

Winner: Aatebat Al Khalediah, Fernando Jara (jockey), Ali Rashid Al Raihe (trainer).

7.05pm: Maiden (TB) Dh165,000 (D) 1,400m

Winner: Down On Da Bayou, Royston Ffrench, Salem bin Ghadayer.

7.40pm: Maiden (TB) Dh165,000 (D) 1,600m

Winner: Dubai Avenue, Fernando Jara, Ali Rashid Al Raihe.

8.15pm: Handicap (TB) Dh190,000 (D) 1,200m

Winner: My Catch, Pat Dobbs, Doug Watson.

8.50pm: Dubai Creek Mile (TB) Listed Dh265,000 (D) 1,600m

Winner: Secret Ambition, Tadhg O’Shea, Satish Seemar.

9.25pm: Handicap (TB) Dh190,000 (D) 1,600m

Winner: Golden Goal, Pat Dobbs, Doug Watson.