I refer to the news report Jaywalkers on road to disaster (January 11). Urban planning studies done decades ago showed that people walk, cross or create logical paths based on surrounding businesses, homes and so on. Transportation and urban planners would do well to observe pedestrian behaviour and plan accordingly.
Hazel Lynn Singer, US
Charlie Hebdo’s latest move achieves nothing
The decision by Charlie Hebdo to publish millions of copies of a special edition this week with a caricature of the Prophet Mohammed on its cover is again a silly provocation that achieves nothing positive (Charlie Hebdo stays controversial in first issue after attacks, January 14).
It is definitely not the outcome Muslim participants in the Paris march were hoping for. France and the West should put an end to such infringements on the sanctity of all prophets and messengers for God through appropriate blasphemy laws.
Ahmoodi, Dubai
In the opinion article Warped view of Paris killers makes targets of us all (January 13), Faisal Al Yafai depicts Charlie Hebdo as a far-right wing anti-Muslim fascist newspaper. It is exactly the contrary. Charlie is viewed in France as one of the furthest left-wing satirical newspapers.
By publishing all these provocative and offensive materials, it seeks to fight against all forms of obscurantism, extremism and radicalism. It fights for the fundamental value of freedom and seeks to uphold the main asset of the French Republic: secularism. Its main weapon is laughter.
They laugh at all forms of extremism. The more the enemies react to cartoons, the more Charlie continues. But let me clarify that in no way did the newspaper mock at millions of people practising a moderate, peaceful and beautiful religion.
So please don’t label Charlie Hebdo as simply brainless anti-Muslim media.
With the sentence “Europe has a history of first turning the pen on minorities before also turning the gun,” is the writer suggesting that France is going to take up arms against the Muslim community? I do not deny that there are a lot of integration problems, racism, anti-Muslim and anti-Jewish feelings in France. However, France still remains a peaceful and warm host for a lot of communities from around the world.
With our pencils, we will continue to irritate, provoke, disturb, disrespect, annoy and make fun of those who share the ideas of those murderers.
In the end, I express my warmest thanks to Sheikh Abdullah bin Zayed for attending the Paris march on Sunday. I’m so proud of my host country.
Chris Gilles, Dubai
Include regular cyclists in picture
With reference to your editorial A thank you to all who did #cycletoworkUAE(January 14), I cycled to work yesterday. On my way to work I saw many blue-collar workers cycling, and I realised they cycle out of necessity as a mode of transportation and not necessarily as a way to exercise.
They have been cycling the streets of Abu Dhabi for as long as I can remember and I’ve been here for 16 years. No one has ever paid any attention to them and they have never asked for designated cycling paths. Yet, there seems to be very few accidents involving these cyclists. They have found their way around the streets of Abu Dhabi to keep safe.
Cynthia Harb, Abu Dhabi
Weather doesn’t cause mishaps
The car pileup is not surprising (Massive pile-up on Abu Dhabi road as fog reduces visibility, January 8). This is what happens when people drive carelessly, which is what we see everyday. One who drives fast is not a good driver; one who drives with care is.
Ana Kennel, Abu Dhabi
These accidents will always happen because of drivers’ mentality and their lack of common sense. Do not blame the weather.
Norman Pineda Iliscupidez, Abu Dhabi
If people would drive more carefully and be more considerate to other road users, these accidents can be averted. Do not use mobile phones, reduce speed, keep your distance and use indicators.
Mylene Davis-Zijlstra, Abu Dhabi
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.”
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
The National in Davos
We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
NEW ARRIVALS
Benjamin Mendy (Monaco) - £51.75m (Dh247.94m)
Kyle Walker (Tottenham Hotspur) - £45.9m
Bernardo Silva (Monaco) - £45m
Ederson Moraes (Benfica) - £36m
Danilo (Real Madrid) - £27m
Douglas Luiz (Vasco de Gama) - £10.8m
