I find it very discouraging to see the queues start again at petrol stations in Sharjah (Fresh petrol queues in Sharjah, September 10).
The petrol situation there was not bad over the summer, but everyone remembers that last spring the problems started small, and grew into a difficult situation.
We were hopeful that the problems would be solved by the time demand picked up again, with the efforts by Adnoc. But maybe that wasn't enough.
John Jenkins, Sharjah
Arab League too good to Assad
Re: Why did Syria postpone Arab League visit? (September 9).
With all due respect to the Arab League initiative, I do not think it serves the interests of Arabs.
Throwing a lifeline to this violent man Bashar Al Assad stirs the street against the Arab League and encourages Mr Al Assad to kill more people (40 were killed the day after word of the initiative was published).
Syrians wish to see Mr Al Assad depart his post to achieve freedom from violence and one-party rule.
Farid Ghadry, US
Different view on September 11
Meaning no disrespect to anyone, I want to say that the media have been paying too much attention to the September 11 anniversary ('War on Islam' had victims but no victors, September 10).
The total terrorism death toll around the world in the last decade, including those killed by fanatics of all causes in all countries, is far lower than the number killed by Aids, the number killed by other infectious diseases that could be prevented for a few dollars, the number killed by famine, the number killed because Haiti has no building standards - and I could go on.
These causes, like terrorism, demand a political and policy response. But where is the concern for those victims, and those who will be the next to die?
Edmund Dorf, Dubai
In the column With the fall of the Twin Towers, politics of fear rose up (September 9), I get the first two points, about the fear which led to a "clash of civilisations" narrative.
But the third point concerning the "new atheism" is hardly one that has gained credible traction anywhere.
Rob Clement, Oman
The USA should understand that their 9/11 happens 24/7 for Palestine and Iraq.
Ayad Abas, Abu Dhabi
Air India should improve service
I can agree with your report India wants to restrict Gulf flights to help Air India (September 9) that Air India's most profitable routes involve the Gulf. No wonder: their fares are high and service is low.
The success of the UAE's carriers is a clear indication that Air India is not providing quality service.
There is a reason why people choose other carriers over Air India Express. Indian policymakers should probably look into that, rather than exploiting the south Indian community in the Gulf.
If they are going to force people to fly Air India Express then they might as well call it a "closed sky" policy.
Mohammad Fuad Mustafa, Abu Dhabi
Metro give choice to passengers
Your story Taxi drivers unsure if Dubai Metro Green Line is boom or bust (September 8) reminds me that there was a time in Dubai, before the Metro, when the taxi driver was king.
People waving to a taxi were unsure whether the driver would stop, and if he did we were unsure if he would go where we wanted.
I am now happy that the customer is king, as should be the case all the time in a flourishing economy. This is what competition does to all, and the beneficiary is always the consumer.
Amit Bhattacharjie, Dubai
To fight bombers, protect the people
I refer to Security forces under fire for failure to stop Delhi court bombing (September 9).
As usual, politicians and intelligence services have vowed to punish those behind the Delhi blast, but recurring terrorist incidents show that India needs better preparedness.
Whereas the life of common people is always at risk, top politicians and their families enjoy massively costly security protection.
After every incident there is an inquiry commission and report, but these can take years to reach a conclusion, by which time many more such cases have occurred.
It is high time India changes its intelligence strategy to tackle the rising terror menace.
And to be successful, a political consensus is needed, and that requires a renewed mechanism to ensure the safety of ordinary people.
Ramachandran Nair, Oman
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.”
Company%20profile
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Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
if you go
The flights
Flydubai flies to Podgorica or nearby Tivat via Sarajevo from Dh2,155 return including taxes. Turkish Airlines flies from Abu Dhabi and Dubai to Podgorica via Istanbul; alternatively, fly with Flydubai from Dubai to Belgrade and take a short flight with Montenegro Air to Podgorica. Etihad flies from Abu Dhabi to Podgorica via Belgrade. Flights cost from about Dh3,000 return including taxes. There are buses from Podgorica to Plav.
The tour
While you can apply for a permit for the route yourself, it’s best to travel with an agency that will arrange it for you. These include Zbulo in Albania (www.zbulo.org) or Zalaz in Montenegro (www.zalaz.me).
UAE%20v%20West%20Indies
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The%20end%20of%20Summer
%3Cp%3EAuthor%3A%20Salha%20Al%20Busaidy%3C%2Fp%3E%0A%3Cp%3EPages%3A%20316%3C%2Fp%3E%0A%3Cp%3EPublisher%3A%20The%20Dreamwork%20Collective%C2%A0%3C%2Fp%3E%0A
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Killing of Qassem Suleimani
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
The Gandhi Murder
- 71 - Years since the death of MK Gandhi, also christened India's Father of the Nation
- 34 - Nationalities featured in the film The Gandhi Murder
- 7 - million dollars, the film's budget
Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
Stage 2
1. Mathieu van der Poel (NED) Alpecin-Fenix 4:18:30
2. Tadej Pogacar (SLV) UAE Team Emirates 0:00:06
3. Primoz Roglic (SLV) Jumbo-Visma 0:00:06
4. Wilco Kelderman (NED) Bora-Hansgrohe 0:00:06
5. Julian Alaphilippe (FRA) Deceuninck-QuickStep 0:00:08
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia