Travelling with Kids: mutiny at 30,000 feet


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Last month, for the first time in his life, my nine-year-old son had to make do without a window seat on a plane. This happened thanks to his mother who, having booked tickets from Abu Dhabi to Mumbai with Etihad Airways at the last minute, forgot this all-important detail while hurrying to complete the online transaction.

Travel Travelling With Kids

Getaways take on whole new challenges when there are children involved. Our globetrotting parents share their triumphs and mistakes when taking their brood abroad.

I didn't find out about my unpardonable oversight until we had boarded the plane and were shown to seats beside a smug teenager ensconced by the window. While I stared in utter joy at my aisle seat - my first in a long, long time, because Calvin, of course, always gets the window and my husband the aisle (on account of his lanky frame, he claims) - my son plonked himself down in the middle seat and looked at me with betrayal in his eyes.

It was instant mutiny.

He refused to eat or drink or talk to me or even accept the toy the stewardess handed out. He just sat there, either reading the safety instructions card or memorising trivia from his battered, dog-eared airplane guide. The only time he looked up was during take-off, when he turned his attention to the window and sighed as though the very purpose of living had been taken away from him.

We landed in Mumbai in the midst of a heavy downpour. This made Calvin cheer up considerably because his vision of a rain-soaked holiday, complete with giant umbrellas and rubber boots and frogs, was going to come true. But before we disembarked, he made me solemnly swear to bag him a window seat on the Etihad Guest website 24 hours before our flight back to Abu Dhabi.

"Yes, of course," I said sincerely, and we went on to enjoy two blissful weeks at my parents' suburban Mumbai home. It rained non-stop the entire time and, because the street was flooded and I didn't want Calvin disappearing down an open manhole (which happens a lot to unsuspecting pedestrians in Mumbai during the monsoons), my mum and dad took to accompanying Calvin to the roof every afternoon, where he got to stomp about in puddles to his heart's content before traipsing downstairs for hot chocolate and cookies.

A day before we were to fly back to Abu Dhabi, I tried to check-in online and get that window seat, only to find out that the flight was operated by Jet Airways and that the airline currently does not offer web check-in for passengers on codeshares.

I broke the news cautiously to Calvin, who was staring raptly at a large frog that had climbed onto our bedroom windowsill.

"It's OK, mum," he said, when I'd finished explaining. "I bet if we ask nicely at the airport, they'll be happy to give us a window seat. And even if they don't, it won't matter, because I'll have this frog to keep me company. Now, say 'hello' to Hoppy."

Results

STAGE

1 . Filippo Ganna (Ineos) - 0:13:56

2. Stefan Bissegger (Education-Nippo) - 0:00:14

3. Mikkel Bjerg (UAE Team Emirates) - 0:00:21

4. Tadej Pogacar (UAE Team Emirates) - 0:00:24

5. Luis Leon Sanchez (Astana) - 0:00:30

GENERAL CLASSIFICATION

1. Tadej Pogacar (UAE Team Emirates) - 4:00:05

2. Joao Almeida (QuickStep) - 0:00:05

3. Mattia Cattaneo (QuickStep) - 0:00:18

4. Chris Harper (Jumbo-Visma) - 0:00:33

5. Adam Yates (Ineos) - 0:00:39

Where to buy

Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com

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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.”