After the suicide bomb attacks on Medina were described as an attack on this country too (UAE condemns 'bloodthirsty' terror attacks in Saudi Arabia, July 6), some people have been asking why the bombing in Baghdad that killed more than 200 people has not received similar prominence.
As an Iraqi myself, I know that when the holiest cities are in danger, it’s more shocking than a suicide bombing in Iraq, which has been a war zone for so long.
Certainly, we should all wish that the souls rest in peace and we all feel the pain of our brothers and sisters in Baghdad.
Aouse Al Anee, Abu Dhabi
There is no doubt that the attack in Medina had shock value but I question those who see it as different because it is the second holiest site in Islam.
Often the worst kind of cruelty is to value one life above another based on religion, nationality or race.
If you want to condemn all kinds of terrorism against humanity, you might as well mention the recent attack in Baghdad.
Rosil Azawi, Dubai
Can Brexit help the Palestinians?
With regard to your opinion article, Israel can't avoid the fallout from a disunited Europe (July 6), Israel has already survived 60 years of illegal occupation, apartheid, genocide and United Nations resolutions against their government.
To suggest that this British nonsense will suddenly put an end to it makes no sense whatsoever.
Gianmaria Vidale, Dubai
Some of those who have responded to this article have maintained that there is no occupation and that there is no apartheid because there are a million Arabs living in Israel with Israeli citizenship.
This makes me laugh out loud. Maybe someone should tell that to the Ethiopian Jews living there? Or how about the Arab Jews?
Elham McMillan, Abu Dhabi
‘Shameful’ case of police abuse
The video of the arrest of Emirati businessman Ahmed Al Menhali ('They were brutal with me' Emirati describes arrest in US after being mistaken for ISIL member, July 4) reveals manifest disrespect.
Mr Al Menhali complains that they broke his phone and the policeman replies: “Yeah? Well you’ve broken my nail.”
Such disrespect is shameful. I am an American and I would like to apologise on behalf of my country.
Name withheld by request
The police overreacted at first and then underreacted when Mr Al Menhali collapsed.
The police had nothing to go on other than the call from the receptionist, who should be fired. This is what happens when you watch CNN too often for too long.
Paul Harts, Sharjah
Turtle movie is not just for kids
With regard to your article, Film review: Teenage Mutant Ninja Turtles: Out of the Shadows is one for the kids (July 6), the movie and the characters have wide appeal, so it's not really fair for them to be trapped in being "only" for kids when originally these were not made for a young audience.
It’s OK to say this film is more appealing to kids rather than the casual viewer, but let us not use it to generalise about the whole franchise on the basis of one film.
Name withheld by request
How can anyone kill their mother?
Your story, Murder of mother 'by Saudi twins' whips up storm of debate over medieval scholar (July 6) makes me wonder how any child can kill his own mother.
If true, these twins are doomed for life – the blood of the person who loved them and raised them is on their hands.
This is the first time that I have heard an allegation of Muslim boys treating their parents like this. In my experience, Muslim boys always adore their parents, and especially their mothers.
Fernadia Kearns, Al Ain
This woman raised them for 20 years and they were inside her for nine months. If this allegation is true, they have killed one of the people who loved them so they could join a group with so much hate.
It’s like they don’t use logic and have let other people control them like dolls.
Muhanned Al-Belooshi, Abu Dhabi
God bless her for trying to stop her sons from apparently joining a terror group such as ISIL. May she rest in peace.
Anthony Edwards, Abu Dhabi
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
What are the main cyber security threats?
Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.
if you go
The flights
Emirates offer flights to Buenos Aires from Dubai, via Rio De Janeiro from around Dh6,300. emirates.com
Seeing the games
Tangol sell experiences across South America and generally have good access to tickets for most of the big teams in Buenos Aires: Boca Juniors, River Plate, and Independiente. Prices from Dh550 and include pick up and drop off from your hotel in the city. tangol.com
Staying there
Tangol will pick up tourists from any hotel in Buenos Aires, but after the intensity of the game, the Faena makes for tranquil, upmarket accommodation. Doubles from Dh1,110. faena.com
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
THE BIO
Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.
Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.
Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.
Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
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.”
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
