Tennis - Wimbledon - London, Britain - July 16, 2017   Switzerland’s Roger Federer poses with the trophy as he celebrates winning the final against Croatia’s Marin Cilic    REUTERS/Daniel Leal-Olivas/Pool     TPX IMAGES OF THE DAY
A read says Roger Federer's monumental Wimbledon achievement is inspirational. Daniel Leal-Olivas / Reuters

Roger Federer's attitude and determination are exemplary



Roger Federer's Wimbledon achievement is indeed monumental (Disbelief' as Roger Federer beats Marin Cilic to win record eighth Wimbledon title, July 17). The victory is almost unbelievable considering his age and that he remained absent for sometime from the game due to the injuries he had suffered last year. His positive spirit should serve as an inspiration for other players. The way he spoke about his opponent, Marin Cilic - "He's a hero," he said - showed he was a fine person, too. It's his pleasant personality that won him many hearts across the world.

Rajendra Aneja, Dubai

Qatar’s propaganda efforts are just a waste of money

I refer to the news item Qatar co-opting London taxis for its propaganda (July 15). To be absolutely honest I don't think a single Brit would have paid any attention. There is so much advertising on transport that you just don't look at it any more. I can't remember the last advertisement I paid attention to and I wasn't that long ago on the tube. Qatar simply wasted a good deal of money.

Daniella How, Dubai

I think the UAE and other Gulf countries should place counter advertisements on those taxis as well.

Saif Omar Al Suwaidi, Sharjah

We need research to back statement on effects of pesticides

You cannot make assumptions on this kind of cases without further research and peer reviewed case studies (Doctors in UAE report increase in chronic illnesses due to pesticides, July 16). The report suggested that fruits and vegetable could be banned from five countries, but cancer is linked to consumption of meat and dairies, especially processed food, and not to fruits and vegetables.

Sheena Soleil Angeles, Dubai

Remarks by Qatar Airways chief are in bad taste

The remark by the Qatar Airways executive was terrible and sexist (American Airlines slams 'offensive' remarks by Qatar Airways chief executive, July 13). I'd prefer to be served by warmhearted grandmothers than by some young women with an artificial smile on their faces.

Percy Pervez, Dubai

I was really surprised to read such a salacious statement by Qatar Airways chief executive Akbar Al Baker. I have been in this region for more than a decade and I know that women here command a lot more respect than in the United States or Europe.

Leo Z, Abu Dhabi

A long way to go for a meal

I refer to your article Where to sample some local creative vegetarian cooking (July 15). I think the majority of Abu Dhabi restaurants do not understand what vegetarians like to eat. They prepare meals based on their own understanding, rather than giving priority to the needs of the customer. I prefer to dine in Dubai.

Raj Singh, Abu Dhabi

COMPANY PROFILE

Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

Best Academy: Ajax and Benfica

Best Agent: Jorge Mendes

Best Club : Liverpool   

 Best Coach: Jurgen Klopp (Liverpool)  

 Best Goalkeeper: Alisson Becker

 Best Men’s Player: Cristiano Ronaldo

 Best Partnership of the Year Award by SportBusiness: Manchester City and SAP

 Best Referee: Stephanie Frappart

Best Revelation Player: Joao Felix (Atletico Madrid and Portugal)

Best Sporting Director: Andrea Berta (Atletico Madrid)

Best Women's Player:  Lucy Bronze

Best Young Arab Player: Achraf Hakimi

 Kooora – Best Arab Club: Al Hilal (Saudi Arabia)

 Kooora – Best Arab Player: Abderrazak Hamdallah (Al-Nassr FC, Saudi Arabia)

 Player Career Award: Miralem Pjanic and Ryan Giggs

TWISTERS

Director:+Lee+Isaac+Chung

Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos

Rating:+2.5/5

The specs

Engine: 1.8-litre 4-cyl turbo
Power: 190hp at 5,200rpm
Torque: 320Nm from 1,800-5,000rpm
Transmission: Seven-speed dual-clutch auto
Fuel consumption: 6.7L/100km
Price: From Dh111,195
On sale: Now

Company profile

Name: Fruitful Day

Founders: Marie-Christine Luijckx, Lyla Dalal AlRawi, Lindsey Fournie

Based: Dubai, UAE

Founded: 2015

Number of employees: 30

Sector: F&B

Funding so far: Dh3 million

Future funding plans: None at present

Future markets: Saudi Arabia, potentially Kuwait and other GCC countries

SPECS

Engine: 6-cylinder 3-litre, with petrol and diesel variants
Transmission: 8-speed automatic
Power: 286hp (petrol), 249hp (diesel)
Torque: 450Nm (petrol), 550Nm (diesel)
Price: Starting at $69,800
On sale: Now

The specs: 2018 Infiniti QX80

Price: base / as tested: Dh335,000

Engine: 5.6-litre V8

Gearbox: Seven-speed automatic

Power: 400hp @ 5,800rpm

Torque: 560Nm @ 4,000rpm

Fuel economy, combined: 12.1L / 100km

The lowdown

Bohemian Rhapsody

Director: Bryan Singer

Starring: Rami Malek, Lucy Boynton, Gwilym Lee

Rating: 3/5

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.”

While you're here
Griselda

Director: Andrés Baiz

Starring: Sofía Vergara, Alberto Guerra, Juliana Aiden Martinez

Rating: 4/5

Company profile

Company name: amana
Started: 2010
Founders: Karim Farra and Ziad Aboujeb
Based: UAE
Regulator: DFSA
Sector: Financial services
Current number of staff: 85
Investment stage: Self-funded

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.