Fishing industry receives a fillip



Fishing occupies a key place in both the UAE's heritage and its culture. We are a nation of seafood eaters and most of us live in coastal areas. For some Emiratis, particularly in the Northern Emirates, fishing remains their main and, indeed, only source of income.
We also live in an era when fish stocks are declining at alarming rates, but fishermen will undoubtedly welcome at least one contemporary development: the new port in Umm Al Quwain.
Its completion represents a further indication of the government's commitment to preserving and investing in the industries that traditionally supported parts of this nation. Even today, fishing is still UAQ's biggest industry.
As The National reported yesterday, the newly opened Dh30 million Al Naqqa port has space to accommodate more than 300 boats.
In the past, the emirate's narrow port had forced many fishermen to pull their boats onto the beach due to the lack of space in the marina.
But this is not all. The emirate is building another 75-berth facility on UAQ Creek that is expected to open next month. The development will replace the dilapidated 35-year-old marina that had fallen into disrepair.
The UAQ Fishermen's Association has also been allocated land next to the port to build an ice factory close to the fish market.
These improvements are in line with the government's coordinated efforts to support the industry.
Earlier this year, the Ministry of Environment and Water gave special discounts to Emirati fishermen to help them buy new equipment. Separately, the ministry has held meetings with fishermen and is seeking to train them to properly use and maintain this new kit.
The ministry has also been increasing regulations in recent years to help preserve fish stocks during their spawning seasons and is busy enforcing these rules through regular inspections and fines.
Efforts like these, on a local and national level, are important. Not least because they represent an important link with our past, but more pointedly because they will help an important industry to function more effectively tomorrow.

A MAN FROM MOTIHARI

Author: Abdullah Khan
Publisher: Penguin Random House
Pages: 304
Available: Now

LA LIGA FIXTURES

Friday Athletic Bilbao v Celta Vigo (Kick-off midnight UAE)

Saturday Levante v Getafe (5pm), Sevilla v Real Madrid (7.15pm), Atletico Madrid v Real Valladolid (9.30pm), Cadiz v Barcelona (midnight)

Sunday Granada v Huesca (5pm), Osasuna v Real Betis (7.15pm), Villarreal v Elche (9.30pm), Alaves v Real Sociedad (midnight)

Monday Eibar v Valencia (midnight)

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Juliot Vinolia’s checklist for adopting alternate-day fasting

-      Don’t do it more than once in three days

-      Don’t go under 700 calories on fasting days

-      Ensure there is sufficient water intake, as the body can go in dehydration mode

-      Ensure there is enough roughage (fibre) in the food on fasting days as well

-      Do not binge on processed or fatty foods on non-fasting days

-      Complement fasting with plant-based foods, fruits, vegetables, seafood. Cut out processed meats and processed carbohydrates

-      Manage your sleep

-      People with existing gastric or mental health issues should avoid fasting

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'Saand Ki Aankh'

Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars

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 five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat

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The stats and facts

1.9 million women are at risk of developing cervical cancer in the UAE

80% of people, females and males, will get human papillomavirus (HPV) once in their lifetime

Out of more than 100 types of HPV, 14 strains are cancer-causing

99.9% of cervical cancers are caused by the virus

A five-year survival rate of close to 96% can be achieved with regular screenings for cervical cancer detection

Women aged 25 to 29 should get a Pap smear every three years

Women aged 30 to 65 should do a Pap smear and HPV test every five years

Children aged 13 and above should get the HPV vaccine

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Director: Sanjay Leela Bhansali

Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh

3.5/5

Ramez Gab Min El Akher

Creator: Ramez Galal

Starring: Ramez Galal

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Elena Rybakina (Kazakhstan)
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EMERGENCY PHONE NUMBERS

Estijaba – 8001717 –  number to call to request coronavirus testing

Ministry of Health and Prevention – 80011111

Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre

Emirates airline – 600555555

Etihad Airways – 600555666

Ambulance – 998

Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries

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Label: Republic Records

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'Tell the Machine Goodnight' by Katie Williams 
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