It is irresponsible to suggest, with no evidence, that a killing was racially motivated, as a US police officer does in your news report Emirati officer is shot dead by robbers in US (August 9).
As a former resident of Houston I know there is plenty of crime there, but I also know there are many motives. There is racism in the city, but to suggest that a man was killed merely for wearing a kandura risks raising tensions needlessly.
If race or nationality does turn out to be involved in the crime, there will be time to consider that then. But don't shout "fire" before you see any flames or smell any smoke.
Leonard Kennedy, Abu Dhabi
Lebanese got help from Hizbollah
In the opinion column Lebanese attitudes towards Iran defy oversimplification (August 9) it looks like the author is grasping for straws to prove that Iran is a horrible influence in Lebanon.
Iran has in fact made a major contribution to the reconstruction of Lebanon after the disastrous invasion by Israel. So why should the Lebanese have a negative opinion of Iran?
In contrast, what has the US done to benefit Lebanon? Nothing! In fact, the US supplied the weapons that were used to attack Lebanon.
George Doerth, US
Clearly, Hizbollah does not have the best interests of the people of Lebanon at heart. The people of Lebanon must know this, just as they know whose puppet Hizbollah is. Perhaps people are already too intimidated to tell a pollster what they really think.
Any time a state allows anyone to operate an armed militia, it starts to become a failed state.
Marcel Khoury, Dubai
Somalis need iftar money
How many of us have donated to Somalia?
Every day we are reminded that it is Ramadan by iftar buffet ads: "Enjoy a lavish iftar buffet" and "celebrate this Ramadan in style".
We hear of the food wasted at hotels after each iftar buffet, and also about children dying of starvation in Somalia.
Have our lavish lifestyles made us immune to the pain and suffering of others? We should give lavishly to charity instead.
Wardah MK, Abu Dhabi
Spain really needs British tourists
Spaniards are famous for complaining about obnoxious British tourists flooding into Spain.
Now, if that trend is slowing (British love affair with Spain wanes, August 9), we'll see if those complainers are any happier. They need tourist revenue more than ever these days.
Nigel Champion, Abu Dhabi
Governments can't create jobs
Your headline US has a chance to pass job-creation legislation (August 9) is misleading.
True, patent reform and free trade deals will be good for the economy. But no matter what it does, governments can't "create jobs" - if they could, they should just create jobs for everyone.
All government can do is what these bills will help do: create the optimum conditions for private enterprise to create and sell goods and services people want to buy. Usually this means less government, not more.
Tim Whitney, Doha
Americans really can be 'ugly'
The old cliché of the "ugly American" keeps being reinforced, most recently by the man in your report US army employee in the dock over insults (August 9).
The idea that anyone newly arrived in a country would start sneering at the local customs is just … well, it had to be an American, didn't it? Imagine what would happen to anyone from this part of the world who started insulting officials at a US airport!
Veejay Chandwani, Dubai
Correspondents a brave bunch
Thank you for the interesting piece on female correspondents in the Middle East's danger spots (In the line of duty, August 9).
We were impressed with the observations of some reporters that in certain ways it's easier for women to gather news than men - they can talk to women, for example, much more easily than men can.
Still, the cases mentioned show that this work can also be more dangerous, in some ways, for women than for men.
But for anyone, coming into this region to cover violence and conflict demands courage; everyone who does this deserves the respect of "news consumers" everywhere.
Julia and Tom Newsome, US
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
Kandahar%20
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How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
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.”
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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