The longest and "most comprehensive" world cruise, lasting nine months, with stops in 65 countries and covering all seven continents, is set to sail soon. Bookings are now open for Royal Caribbean International's Ultimate World Cruise, which will begin its journey in Miami on December 10, 2023, and last through September 10, 2024.
The price range for the full excursion is between $66,000 to $112,000 per person, according to CNN Travel. Ticket prices are inclusive of business class airfare, transportation and accommodation at a five-star hotel before setting sail. Taxes and fees are not included.
“This is the world cruise of world cruises,” Royal Caribbean International's president and chief executive Michael Bayley said. “Now more than ever, people have resolved to travel the world and make up for lost time. Royal Caribbean is making that a reality with the ultimate vacation that welcomes those seeking adventure and exploration to taste, dance and dream with us around the world. To travellers asking themselves where they should go next, we say everywhere.”
The record-breaking journey will be on board the company's Serenade of the Seas, the 294-metre-long ship with 13 decks that can accommodate up to 2,476 guests. The ship's facilities include a mini-golf course, an arcade, rock-climbing wall, pool, theatre and spa.
Upon leaving Miami, the ship will travel around the Caribbean, before scheduled stop-offs in Central and South America, including trips to the Brazilian city of Rio de Janeiro and Argentina's Iguazu Falls. A total of 150 destinations will be covered across the 274 days, including stops at Casablanca in Morocco, Qaqortoq in Greenland, and Shimizu in Japan, as well as stops to visit 11 wonders of the world, from Peru’s Machu Picchu to the Taj Mahal in India.
Travellers can book the full nine-month experience or join for specific legs. The journey has been split into four main categories: the Americas and Antarctica, Asia and the Pacific, the Middle East and the Mediterranean, and northern Europe.
Royal Caribbean resumed sailing in June with vaccinated adult guests, ending a year-long hiatus brought on by the Covid-19 pandemic.
In July, a luxury cruise starting at $73,499 per person, set to sail around 31 countries across four months, sold out within three hours of its announcement.
Called the Moments In Time world cruise, the journey by Regent Seven Seas Cruises promises to offer passengers the opportunity to “experience a lifetime of travel with one unforgettable adventure after another.” It is scheduled to depart from Miami in January 2024.
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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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Bantamweight 56.4kg
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Super heavyweight 94 kg
Adnan Mohammad v Mohammed Ajaraam
Lightweight 60kg
Zakaria Eljamari v Faridoon Alik Zai
Light heavyweight 81.4kg
Mahmood Amin v Taha Marrouni
Light welterweight 64.5kg
Siyovush Gulmamadov v Nouredine Samir
Light heavyweight 81.4kg
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Stats at a glance:
Cost: 1.05 billion pounds (Dh 4.8 billion)
Number in service: 6
Complement 191 (space for up to 285)
Top speed: over 32 knots
Range: Over 7,000 nautical miles
Length 152.4 m
Displacement: 8,700 tonnes
Beam: 21.2 m
Draught: 7.4 m
The specs: 2018 Chevrolet Trailblazer
Price, base / as tested Dh99,000 / Dh132,000
Engine 3.6L V6
Transmission: Six-speed automatic
Power 275hp @ 6,000rpm
Torque 350Nm @ 3,700rpm
Fuel economy combined 12.2L / 100km
The specs: 2019 BMW X4
Price, base / as tested: Dh276,675 / Dh346,800
Engine: 3.0-litre turbocharged in-line six-cylinder
Transmission: Eight-speed automatic
Power: 354hp @ 5,500rpm
Torque: 500Nm @ 1,550rpm
Fuel economy, combined: 9.0L / 100km
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Ads on social media can 'normalise' drugs
A UK report on youth social media habits commissioned by advocacy group Volteface found a quarter of young people were exposed to illegal drug dealers on social media.
The poll of 2,006 people aged 16-24 assessed their exposure to drug dealers online in a nationally representative survey.
Of those admitting to seeing drugs for sale online, 56 per cent saw them advertised on Snapchat, 55 per cent on Instagram and 47 per cent on Facebook.
Cannabis was the drug most pushed by online dealers, with 63 per cent of survey respondents claiming to have seen adverts on social media for the drug, followed by cocaine (26 per cent) and MDMA/ecstasy, with 24 per cent of people.
