• PREMIER LEAGUE CATCH UP: Saturday, March 12: Brighton 0 Liverpool 2 (Diaz 19', Salah pen 61'). Liverpool cut Manchester City's lead at the top down to three points thanks to goals from Luis Diaz and a Mohamed Salah penalty. AP
    PREMIER LEAGUE CATCH UP: Saturday, March 12: Brighton 0 Liverpool 2 (Diaz 19', Salah pen 61'). Liverpool cut Manchester City's lead at the top down to three points thanks to goals from Luis Diaz and a Mohamed Salah penalty. AP
  • Brentford 2 (Toney 85' & pen 90+4') Burnley 0. A late double from Ivan Toney dragged Brentford away from the bottom three while dealing a blow to Burnley's survival hopes. Getty
    Brentford 2 (Toney 85' & pen 90+4') Burnley 0. A late double from Ivan Toney dragged Brentford away from the bottom three while dealing a blow to Burnley's survival hopes. Getty
  • Manchester United 3 (Ronaldo 12', 38', 81') Tottenham Hotspur 2 (Kane pen 35', Maguire og 72'). Cristiano Ronaldo's first United hat-trick in 14 years earned his team three points in a thriller at Old Trafford. Reuters
    Manchester United 3 (Ronaldo 12', 38', 81') Tottenham Hotspur 2 (Kane pen 35', Maguire og 72'). Cristiano Ronaldo's first United hat-trick in 14 years earned his team three points in a thriller at Old Trafford. Reuters
  • Sunday, March 13: Chelsea 1 (Havertz 89') Newcastle United 0. A last-gasp winner from Kai Havertz earned Chelsea the points in the first game at Stamford Bridge since Blues' Russian owner Roman Abramovich was sanctioned by the UK government.
    Sunday, March 13: Chelsea 1 (Havertz 89') Newcastle United 0. A last-gasp winner from Kai Havertz earned Chelsea the points in the first game at Stamford Bridge since Blues' Russian owner Roman Abramovich was sanctioned by the UK government.
  • Everton 0 Wolves 1 (Coady 49'). Merseyside-born Conor Coady scored the winner that inflicted a fourth defeat in a row on Everton and left Frank Lampard's team outside the bottom three only on goal difference. PA
    Everton 0 Wolves 1 (Coady 49'). Merseyside-born Conor Coady scored the winner that inflicted a fourth defeat in a row on Everton and left Frank Lampard's team outside the bottom three only on goal difference. PA
  • Leeds United 2 (Rodrigo 14', Gelhardt 90+4') Norwich City 1 (McLean 90+1'). Leeds secured their first win under manager Jesse Marsch when substitute Joe Gelhardt - on the pitch for less than two minutes - scored the winner against the rock-botton Canaries. PA
    Leeds United 2 (Rodrigo 14', Gelhardt 90+4') Norwich City 1 (McLean 90+1'). Leeds secured their first win under manager Jesse Marsch when substitute Joe Gelhardt - on the pitch for less than two minutes - scored the winner against the rock-botton Canaries. PA
  • Southampton 1 (Elyounoussi 45') Watford 2 (Hernandez 14' & 34'). Two goals from Colombian Cucho Hernandez earned the Hornets three priceless points in their battle to beat the drop. Reuters
    Southampton 1 (Elyounoussi 45') Watford 2 (Hernandez 14' & 34'). Two goals from Colombian Cucho Hernandez earned the Hornets three priceless points in their battle to beat the drop. Reuters
  • West Ham United 2 (Yarmolenko 70', Fornals 82') Aston Villa 1 (Ramsey 90'). Ukraine international Andriy Yarmolenko scored the opener in his first West Ham appearance since the outbreak of war in his home country. Getty
    West Ham United 2 (Yarmolenko 70', Fornals 82') Aston Villa 1 (Ramsey 90'). Ukraine international Andriy Yarmolenko scored the opener in his first West Ham appearance since the outbreak of war in his home country. Getty
  • Arsenal 2 (Partey 11', Lacazette pen 59'). The Gunners moved back into the top four as goals form Thomas Partey and Alexandre Lacazette earned Mikel Arteta's men a fiffth win in a row. AFP
    Arsenal 2 (Partey 11', Lacazette pen 59'). The Gunners moved back into the top four as goals form Thomas Partey and Alexandre Lacazette earned Mikel Arteta's men a fiffth win in a row. AFP
  • Monday, March 14: Crystal Palace 0 Manchester City 0. City missed the chance to go six points clear at the top after being held by a resilient Palace at Selhurst Park, despite Pep Guardiola's side having 74 per cent of the possession and 19 attempts on goal. Getty
    Monday, March 14: Crystal Palace 0 Manchester City 0. City missed the chance to go six points clear at the top after being held by a resilient Palace at Selhurst Park, despite Pep Guardiola's side having 74 per cent of the possession and 19 attempts on goal. Getty
  • Wednesday, March 16: Brighton 0 Tottenham Hotspur 2 (Romero 37' Kane 57'). Harry Kane's seventh goal in six games sealed a vital three points for Spurs' top-four hopes while condemning Brighton to a sixth successive defeat. PA
    Wednesday, March 16: Brighton 0 Tottenham Hotspur 2 (Romero 37' Kane 57'). Harry Kane's seventh goal in six games sealed a vital three points for Spurs' top-four hopes while condemning Brighton to a sixth successive defeat. PA
  • Arsenal 0 Liverpool 2 (Jota 54', Firmino 62'). Quadruple-chasing Liverpool cut the gap on table-topping Manchester City to just one point after an impressive win at in-form Arsenal. Getty
    Arsenal 0 Liverpool 2 (Jota 54', Firmino 62'). Quadruple-chasing Liverpool cut the gap on table-topping Manchester City to just one point after an impressive win at in-form Arsenal. Getty
  • Thursday, March 17: Everton 1 (Iwobi 90+9') Newcastle United 0. Alex Iwobi's ultra-late strike earned Everton vital three points in their relegation fight, despite the Toffees having Allan sent off with seven minutes remaining. The game was held up for 14 minutes after a protestor tied himself to a goalpost by his neck. Getty
    Thursday, March 17: Everton 1 (Iwobi 90+9') Newcastle United 0. Alex Iwobi's ultra-late strike earned Everton vital three points in their relegation fight, despite the Toffees having Allan sent off with seven minutes remaining. The game was held up for 14 minutes after a protestor tied himself to a goalpost by his neck. Getty
  • Friday, March 18: Wolves 2 (Jonny 26, Trincao 45+11') Leeds 3 (Harrison 63', Rodrigo 66'), Ayling (90'+1). An injury-time goal from Luke Ayling completed Leeds' fight back from two goals down after Raul Jimenez's red card eight minutes into the second half turned the game on its head. AP
    Friday, March 18: Wolves 2 (Jonny 26, Trincao 45+11') Leeds 3 (Harrison 63', Rodrigo 66'), Ayling (90'+1). An injury-time goal from Luke Ayling completed Leeds' fight back from two goals down after Raul Jimenez's red card eight minutes into the second half turned the game on its head. AP
  • Saturday, Match 19: Aston Villa 0 Arsenal 1 (Saka 30'). Arsenal maintained their grip on fourth place after Bukayo Saka's goal secured a sixth win from seven games. Reuters
    Saturday, Match 19: Aston Villa 0 Arsenal 1 (Saka 30'). Arsenal maintained their grip on fourth place after Bukayo Saka's goal secured a sixth win from seven games. Reuters
  • Sunday, March 20: Leicester City 2 (Castagne 20', Maddison 33') Brentford 1 (Wissa 85'). Fine strikes from Timothy Castagne, making his first appearance of 2022 following injury, and James Maddison moved the Foxes into the top half of the table. PA
    Sunday, March 20: Leicester City 2 (Castagne 20', Maddison 33') Brentford 1 (Wissa 85'). Fine strikes from Timothy Castagne, making his first appearance of 2022 following injury, and James Maddison moved the Foxes into the top half of the table. PA
  • Tottenham Hotspur 3 (Zouma og 9', Son 24'& 88') West Ham 1 (Benrahma 35'). Spurs moved to within three points of the top four with Son Heung-min grabbing a double in a dominant derby victory. EPA
    Tottenham Hotspur 3 (Zouma og 9', Son 24'& 88') West Ham 1 (Benrahma 35'). Spurs moved to within three points of the top four with Son Heung-min grabbing a double in a dominant derby victory. EPA

Cristiano Ronaldo hat-trick, Son Heung-min shines: Premier League catch-up - in pictures


  • English
  • Arabic

The Premier League is back in action this weekend after the international break as the English top-flight season heads into the home straight.

Manchester City have seen their lead at the top cut down to just one point by Liverpool with Chelsea in third, albeit 10 points behind Jurgen Klopp's side.

Arsenal hold on to the final Champions League place sitting fourth, three points ahead of Tottenham Hotspur but Mikel Arteta's side have a game in hand on their North London rivals.

Manchester United are sixth, two points and one place ahead of West Ham with a game in hand.

At the other end of the table, Norwich City are rock bottom, eight points shy of Everton in 17th place, who have played two games fewer. Burnley are 19th, one point behind Watford but with two games in hand.

In the gallery above, you can see the results from the last round of Premier League fixtures. To move on to the next photo, click on the arrows or if using a mobile device, simply swipe.

The bio

His favourite book - 1984 by George Orwell

His favourite quote - 'If you think education is expensive, try ignorance' by Derek Bok, Former President of Harvard

Favourite place to travel to - Peloponnese, Southern Greece

Favourite movie - The Last Emperor

Favourite personality from history - Alexander the Great

Role Model - My father, Yiannis Davos

 

 

Citizenship-by-investment programmes

United Kingdom

The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).

All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.

The Caribbean

Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport. 

Portugal

The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.

“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.

Greece

The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.

Spain

The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.

Cyprus

Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.

Malta

The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.

The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.

Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.

Egypt 

A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.

Source: Citizenship Invest and Aqua Properties

'Gold'

Director:Anthony Hayes

Stars:Zaf Efron, Anthony Hayes

Rating:3/5

Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

MATCH INFO

Rugby World Cup (all times UAE)

Final: England v South Africa, Saturday, 1pm

UAE v Zimbabwe A

Results
Match 1 – UAE won by 4 wickets
Match 2 – UAE won by 5 wickets
Match 3 – UAE won by 25 runs
Match 4 – UAE won by 77 runs

Fixture
Match 5, Saturday, 9.30am start, ICC Academy, Dubai

THE SPECS

Aston Martin Rapide AMR

Engine: 6.0-litre V12

Transmission: Touchtronic III eight-speed automatic

Power: 595bhp

Torque: 630Nm

Price: Dh999,563

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.8-litre%204-cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E190hp%20at%205%2C200rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20320Nm%20from%201%2C800-5%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%3C%2Fstrong%3E%206.7L%2F100km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh111%2C195%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
The%20specs%3A%202024%20Mercedes%20E200
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cyl%20turbo%20%2B%20mild%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E204hp%20at%205%2C800rpm%20%2B23hp%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E320Nm%20at%201%2C800rpm%20%2B205Nm%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.3L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENovember%2FDecember%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh205%2C000%20(estimate)%3C%2Fp%3E%0A
About RuPay

A homegrown card payment scheme launched by the National Payments Corporation of India and backed by the Reserve Bank of India, the country’s central bank

RuPay process payments between banks and merchants for purchases made with credit or debit cards

It has grown rapidly in India and competes with global payment network firms like MasterCard and Visa.

In India, it can be used at ATMs, for online payments and variations of the card can be used to pay for bus, metro charges, road toll payments

The name blends two words rupee and payment

Some advantages of the network include lower processing fees and transaction costs

In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
  • Production engineer: Dh30,000 to Dh40,000 
  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
  • HR leader: Dh40,000 to Dh60,000 
  • Engineering leader: Dh30,000 to Dh55,000 
  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
  • Field supervisor: Dh9,000 to Dh12,000
  • Field operator: Dh5,000 to Dh7,000
ALRAWABI%20SCHOOL%20FOR%20GIRLS
%3Cp%3ECreator%3A%20Tima%20Shomali%3C%2Fp%3E%0A%3Cp%3EStarring%3A%C2%A0Tara%20Abboud%2C%C2%A0Kira%20Yaghnam%2C%20Tara%20Atalla%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
THE APPRENTICE

Director: Ali Abbasi

Starring: Sebastian Stan, Maria Bakalova, Jeremy Strong

Rating: 3/5

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Neo%20Mobility%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20February%202023%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Abhishek%20Shah%20and%20Anish%20Garg%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Logistics%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Delta%20Corp%2C%20Pyse%20Sustainability%20Fund%2C%20angel%20investors%3C%2Fp%3E%0A
Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

Film: Raid
Dir: Rajkumar Gupta
Starring: Ajay Devgn, Ileana D'cruz and Saurabh Shukla

Verdict:  Three stars 

Afro%20salons
%3Cp%3E%3Cstrong%3EFor%20women%3A%3C%2Fstrong%3E%3Cbr%3ESisu%20Hair%20Salon%2C%20Jumeirah%201%2C%20Dubai%3Cbr%3EBoho%20Salon%2C%20Al%20Barsha%20South%2C%20Dubai%3Cbr%3EMoonlight%2C%20Al%20Falah%20Street%2C%20Abu%20Dhabi%3Cbr%3E%3Cstrong%3EFor%20men%3A%3C%2Fstrong%3E%3Cbr%3EMK%20Barbershop%2C%20Dar%20Al%20Wasl%20Mall%2C%20Dubai%3Cbr%3ERegency%20Saloon%2C%20Al%20Zahiyah%2C%20Abu%20Dhabi%3Cbr%3EUptown%20Barbershop%2C%20Al%20Nasseriya%2C%20Sharjah%3C%2Fp%3E%0A
Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
  • Critically assess whether a project’s promises or returns seem too good to be true.
  • Only use reputable platforms that have a track record of strong regulatory compliance.
  • Store funds in hardware wallets as opposed to online exchanges.
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills

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.”

Updated: April 02, 2022, 3:50 AM