There is so much to love about the UAE

I refer to your article, The nine ways to see the best of Abu Dhabi (October 26). I just love UAE culture and cannot get enough of it. The smell of camels and the desert, the incense and majestic oils such as oud, the country's history and its amazing rise in such a short time to the absolute top in the world, the falcons and old stories, the weaving and pottery, the poetry and music, the national dances and cultural variations between the seven states and so much more. The country's vision for the future is outstanding.

Brigitte Tibet von Bulow, Abu Dhabi

Tolerance and respect are key national pillars

I refer to your article, UK ambassador praises UAE's tolerance on International Religious Freedom Day (October 27). I have been to midnight mass on Christmas at St Joseph's Cathedral and the mosque next door was also in prayer the same time. It's was a moving and uplifting experience. Well done to the UAE for fostering so much tolerance and respect.

Ann Cambridge, United Kingdom

It is the same in South Africa and I am sure many other countries. Having tolerance and respect towards each other irrespective of race, religion and other differences are key elements to being good humans beings.

Irshad Valli, Dubai

Desperate times call for damage control measures

I refer to your article, Lack of cover means watchman in Fujairah struggles with medication costs (October 26). I hope he alters his diet and exercise more if and when he can. He has to go the natural route and try to get off those medications. It's not easy, but doable.

Sabrina Henry, Dubai

Coding initiative will bring dramatic change to the region

Your editorial, Coding: the language of the future arrives today (October 26), was an interesting read. Sheikh Mohammed bin Rashid's initiative will bring dramatic change in the Arab world. Children will develop their knowledge. Today, the entire globe needs a revolution in knowledge, although some countries are making progress like India under Narendra Modi.

K Ragavan, India

In South Africa, the big picture is not that simple

I refer to your article, White South African farmers jailed for forcing black man into coffin (October 27). The broken law system in South Africa gave these men 10 to 11 years in prison but murderers and rapist get less jail time in South Africa. This piece of news is not reflective of the the bigger picture in South Africa.

Carla Botha, Abu Dhabi

Brave warriors will always be remembered

Saeed Al Kaabi was a brave warrior (Body of martyr soldier arrives in Abu Dhabi, October 27). My heartfelt condolences go out to the family.

Melanie Rose, Dubai

How to improve Arabic reading in early years

One 45-minute class per week in Standard Arabic is not sufficient

The goal should be for grade 1 and 2 students to become fluent readers

Subjects like technology, social studies, science can be taught in later grades

Grade 1 curricula should include oral instruction in Standard Arabic

First graders must regularly practice individual letters and combinations

Time should be slotted in class to read longer passages in early grades

Improve the appearance of textbooks

Revision of curriculum should be undertaken as per research findings

Conjugations of most common verb forms should be taught

Systematic learning of Standard Arabic grammar

Breast cancer in men: the facts

1) Breast cancer is men is rare but can develop rapidly. It usually occurs in those over the ages of 60, but can occasionally affect younger men.

2) Symptoms can include a lump, discharge, swollen glands or a rash.

3) People with a history of cancer in the family can be more susceptible.

4) Treatments include surgery and chemotherapy but early diagnosis is the key.

5) Anyone concerned is urged to contact their doctor

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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While you're here

C Uday Bhaskar: What is India's Indo-Pacific strategy?

Sholto Byrnes: How US and China can get along in Indo-Pacific

Brahma Chellaney: Trump's unpredictability is making China great again

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Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE