Writer VS Naipaul receives the Nobel prize for literature from Sweden's King Carl Gustaf in 2001. Henrik Montgomery / TT News Agency via Reuters
Writer VS Naipaul receives the Nobel prize for literature from Sweden's King Carl Gustaf in 2001. Henrik Montgomery / TT News Agency via Reuters
Writer VS Naipaul receives the Nobel prize for literature from Sweden's King Carl Gustaf in 2001. Henrik Montgomery / TT News Agency via Reuters
Writer VS Naipaul receives the Nobel prize for literature from Sweden's King Carl Gustaf in 2001. Henrik Montgomery / TT News Agency via Reuters

Death of VS Naipaul is a great loss to the literary world


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Regarding your story The brilliant but troubling legacy of VS Naipaul (August 12), the recent demise of the 85-year-old author, who won the Nobel prize for literature, was very sad to read.

This legend was known for his creative and literary works, both in fiction and non-fiction, and had a literary canon that was laudable.

Out of the 30 books he wrote over a remarkable career, A Bend in the River was a masterpiece.

He was acknowledged as a classic novelist and a world-class writer.The Trinidad-born Laureate’s departure is a great loss to the world of literature. May his soul rest in peace.

K Ragavan, Bengalaru

World leaders need to get their priorities straight

There are people who do not get three meals per day in many parts of the world.

I often visit countries in Africa, where people have breakfast and then nothing until dinner at night. They have no money to eat lunch.

These are people who are considered lower middle class in their countries.

Is it not a matter of shame that there is so much hunger and destitution in the world and yet so much food is being wasted due to poor storage?

And that our global leaders are busy threatening war, as in the case with the US and Iran, instead of resolving problems of hunger and starvation?

Rajendra Aneja, Dubai

A penalty will ensure you never forget the speed limit

Regarding your online story Covered signs create confusion over removal of speed buffer in Abu Dhabi (August 12), it is quite confusing.

Some signs here in Abu Dhabi are still covered and old signs are still there. I was going slower then everyone else just to be sure not to get caught.

Muhammad Ibrahim, Dubai

If you stick to 120kph, you will ensure you do not get a fine, even if there is a limit of up to 140kph. It’s that simple.

Csanad Birtalan, Dubai

What is so confusing? It’s 120kph. When you have to pay a few fines, it will become easier to remember.

Paul Martin, California

For the time being, just keep to the speed limits displayed on existing signs.

Mohammad Nadarajah, Abu Dhabi

Truth is the price to be paid for a sensationalist story

With reference to your story Swedish woman deported from Dubai for taking pictures of immigration officer during 'angry row' (August 11), thank you for reporting this. Finally after all the false publicity, a decent article about what happened.Of course it had nothing to do with wine.

Name withheld by request

Sanju

Produced: Vidhu Vinod Chopra, Rajkumar Hirani

Director: Rajkumar Hirani

Cast: Ranbir Kapoor, Vicky Kaushal, Paresh Rawal, Anushka Sharma, Manish’s Koirala, Dia Mirza, Sonam Kapoor, Jim Sarbh, Boman Irani

Rating: 3.5 stars

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

The Lost Letters of William Woolf
Helen Cullen, Graydon House 

Profile of Whizkey

Date founded: 04 November 2017

Founders: Abdulaziz AlBlooshi and Harsh Hirani

Based: Dubai, UAE

Number of employees: 10

Sector: AI, software

Cashflow: Dh2.5 Million  

Funding stage: Series A

The specs: 2018 Dodge Durango SRT

Price, base / as tested: Dh259,000

Engine: 6.4-litre V8

Power: 475hp @ 6,000rpm

Torque: 640Nm @ 4,300rpm

Transmission: Eight-speed automatic

Fuel consumption, combined: 7.7L / 100km

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia

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 years Ramadan fell in May

1987

1954

1921

1888

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

The Vines - In Miracle Land
Two stars

The specs: 2018 Ford Mustang GT

Price, base / as tested: Dh204,750 / Dh241,500
Engine: 5.0-litre V8
Gearbox: 10-speed automatic
Power: 460hp @ 7,000rpm
Torque: 569Nm @ 4,600rpm​​​​​​​
​​​​​​​Fuel economy, combined: 10.3L / 100km

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

Third Test

Result: India won by 203 runs

Series: England lead five-match series 2-1

Match info

Liverpool 4
Salah (19'), Mane (45 2', 53'), Sturridge (87')

West Ham United 0