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To see a nation’s wellbeing, look at the health of women


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I write in reference to your article Emirati women doctors deliver vital aid to refugees in Jordan (January 19). Maintaining women's health is vital to a country's overall welfare. Global statistics show that the wellbeing of a nation is directly linked to the health of its mothers, sisters, wives, and daughters. Now is the time to create an environment combining scientific knowledge with cultural considerations and technology to provide women with the best possible opportunities to live healthy lives.

Malnutrition, an enormous problem in the developing world, increases one’s susceptibility to infections and is thus a major component of illness and death. Undernourishment is a major risk factor for the burden of disease in developing countries. By some estimates, malnutrition directly causes about 300,000 deaths per year and is responsible for more than half of all deaths in women, young girls and children. Poor nutrition in women and girls means they are more likely to suffer from infectious diseases. So, good food, filled with essential vitamins and minerals is a key component of empowering women and girls.

Without a doubt, healthy women are a bridge to building a developed nation, therefore they need more healthcare facilities and greater access to healthcare systems than men.

Dr Faisal Khan, Saudi Arabia

Only transparent dialogue can solve Syria’s crisis

I write in reference to your article Syria bill to sanction regime backers passes US House of Representatives (January 24). The pro-Assad nations can always circumnavigate the sanctions, as we have seen before. A better and more pragmatic option is needed. Transparent, free and fair dialogue will always be the best option.

Name withheld by request

Access for all will make Dubai the ideal destination

I refer to your article The wheels are in motion to make the UAE truly inclusive for all (January 23). This editorial

was an interesting read. The word “disabled” has rightly been eradicated in the UAE and replaced by the phrase “people of determination” in the main public places.

It is laudable that Shobhika Kalra, co-founder of Wings of Angelz, has made more than 1,000 places wheelchair ­accessible in Dubai. And the emirate’s dedication to giving full access to people of ­determination by 2020 is ­remarkable. Dubai is certainly the destination for all.

K Ragavan, Bengaluru

The US was built by migrants and is now a superpower

I refer to your article UNHCR chief Filippo Grandi: Return of Syrian refugees to their homeland must be voluntary (January 24). This is a very sane and balanced view, but will all those that benefitted from migration come forward in support? The US was built by refugees and now enjoys the status of a superpower. There are highly-educated and technically skilled people who can be of help to the countries where they settle.

Name withheld by request

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.”

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