A few years ago, on the day we’d returned to Abu Dhabi from New York, my then seven-year-old son woke me up in the middle of the night. “Mommy,” he whispered, “mommy! I’m worried I’m going to catch jet lag!”
Poor kid. It was 3am in Abu Dhabi, but his body clock thought it was dinner-time in New York. He didn’t have to worry about catching “the lag”: it had caught him. I suppose that most of us who live in Abu Dhabi and regularly migrate around the globe can appreciate his dilemma. None of us want jet lag, but it’s become a modern-day, self-inflicted disease. Sometimes I think that jet-lag is the price I have to pay for having moved so far away from my family: sleeplessness as a form of penance.
I am not a good sleeper under the best of circumstances and I envy those who have mastered the art of the nap, or who can get their full night’s sleep on a long-haul flight. If you’ve ever been awakened on an international flight by someone accidentally shining her reading light into your eyes, it wasn’t me, I promise.
My husband is one of those who can sleep anytime, anywhere, and when I’m lying there awake, in the early stages of time-zone discombobulation, as he blissfully snores away, it is hypothetically possible that in trying to get comfortable, I might have kicked him.
Everyone has some secret recipe for avoiding jet lag, but let’s face it: the only cure is to endure. That means trying not to appear too obviously drowsy at that late-afternoon meeting, when your internal clock thinks it’s 3am and every fibre of your being screams out “go to sleep”, and then on the other side of things, trying to avoid gerbil wheel of anxiety that kicks in when you’re awake in the middle of the night.
You’d think I’d know by now not to listen to myself in the wee hours of the morning, when I’m wide awake and trying not to kick my husband. But my insomniac mind is loudest at 3am, reminding me about missed opportunities, poorly executed projects, undone “to do” lists and ghastly memories of social awkwardness. I find myself reliving things from ancient history, like the time that someone tripped me in the lunch room in eighth grade and I dropped my entire tray of food. It’s as if my brain is adding insult to injury: social humiliation coupled with images of myself with an appalling “Dorothy Hamill” haircut and bell-bottomed trousers.
I have learnt, however, that I can slow the gerbil wheel down by keeping a notebook at the side of the bed to jot down all-important to-do items, or the flashes of inspiration that strike at 4am but are shreds of mist after the sun comes up. Of course, in the harsh light of actual morning, those pressing tasks are things like “buy new socks” and the flashes of inspiration are – well, let’s just say, they’re not quite as brilliant as they seemed in the fog of pre-dawn.
Jet-lag is the product of our ability to hurl ourselves around the world in search of adventure, or family, or work — and yet this ability doesn’t seem to have produced as much of a global community as you might expect. But maybe cultural engagement is too much to expect from exhausted people. Let’s start with our shared sleeplessness: we can commiserate over a cup of tea and work from there.
The experts warn us that for each hour we move, it takes a day to adapt: eight hours, eight days; 10 hours, 10 days. I generally feel a little less apocalyptic after four or five days, however, and my husband wakes up with fewer hypothetical bruises on his shins. He should be healed just in time for our flight back to Abu Dhabi in August. He’s thinking of investing in a pair of shin guards and I’m not scheduling any meetings until early September.
Deborah Lindsay Williams is a professor of literature at NYU Abu Dhabi
JAPANESE GRAND PRIX INFO
Schedule (All times UAE)
First practice: Friday, 5-6.30am
Second practice: Friday, 9-10.30am
Third practice: Saturday, 7-8am
Qualifying: Saturday, 10-11am
Race: Sunday, 9am-midday
Race venue: Suzuka International Racing Course
Circuit Length: 5.807km
Number of Laps: 53
Watch live: beIN Sports HD
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PSG's line up
GK: Alphonse Areola (youth academy)
Defence - RB: Dani Alves (free transfer); CB: Marquinhos (€31.4 million); CB: Thiago Silva (€42m); LB: Layvin Kurzawa (€23m)
Midfield - Angel di Maria (€47m); Adrien Rabiot (youth academy); Marco Verratti (€12m)
Forwards - Neymar (€222m); Edinson Cavani (€63m); Kylian Mbappe (initial: loan; to buy: €180m)
Total cost: €440.4m (€620.4m if Mbappe makes permanent move)
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.”
World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets