TV news faces big challenges when there's a war on



Your columnist Ali Khaled is not the only one who stayed up late watching events from Libya, or at least watching what was being reported from Libya. (News every second - and some of it is even correct, August 24).

The events were so gripping that even the imperfect filter of network talking heads, with all their repetition, their confusion, and their lack of certainty could not detract from the excitement of watching it all happen.

His column was very good but to be fair, it's not easy to cover a story like that. As a former journalist I know that when there's no one central news source, but rather 100 of them in various bits of town, all simultaneous and some dangerous to cover, it's going to take a while for a full story to emerge.

Nick Robling, Abu Dhabi

If we kill cats, we will get more rats

I refer to your article Getting rid of unwelcome guests (August 24).

Maybe they wouldn't be facing this problem if they hadn't decided to capture and kill stray cats.

Halla Krawi, Dubai

We need a new global language

I live in London and if anyone says to me "everyone speaks English" my answer is "listen and look around you" (English the lingua franca in China, August 22).

If people in London do not speak English then the whole question of a global language is completely open.

The promulgation of English as the world's "lingua franca" is impractical and linguistically undemocratic. I say this as a native English speaker.

It's impractical because communication should be for all and not only for an educational or political elite.

That is how English is used internationally at the moment.

It's undemocratic because minority languages are under attack worldwide due to the encroachment of majority ethnic languages. Even Mandarin Chinese is attempting to dominate.

A long-term solution must be found and a non-national language, which places all ethnic languages on an equal footing, is essential.

Brian Barker, UK

Parents abuse guardianship right

Quite sad to read Prison for couple who conceived outside of wedlock (August 22).

How can a father destroy the life of his own daughter by being stubborn and vengeful?

Guardianship in Islam was introduced to protect a minor's interests and well-being, and not to gain total control over a person's life. A Muslim father must not misuse his rights of guardianship and must take into consideration the wishes of his children when they reach marriageable age.

If a guardian misuses his right there should be a system, in places run by Islamic Shari'ah, to ensure that lives aren't destroyed actions.

F Baasleim, Dubai

EU should provide aid instead of US

Congresswoman Kay Granger, who apparently writes America's annual foreign aid bill, has threatened the Palestinian Authority that she will suspend $500 million worth of annual aid if it goes ahead with its bid for statehood at the United Nations next month.

Mrs Granger is currently in Israel among a delegation of 25 Republican congressmen sponsored by an affiliate of the American Israel Public Affairs Committee (AIPAC).

That being the threat, it would seem imperative that the EU, as a non-aligned entity, should now replace the US in providing aid to the PA in its bid for recognition and a regional peace settlement.

John Kidd, UK

Unequal wealth is the root of all art

The magnificent old works of art in your photo feature The art of giving (August 23) got me thinking: throughout history it has always been true that some people have amassed great wealth, while others were very poor.

In many cultures, one frequent result of this income inequality has been some really beautiful works of art, made lavishly with the best materials.

If everyone had had an equal share of wealth, who would have been the patrons of the arts?

Andrew Morgan, US

Politicians need common touch

I feel sorry for Sally Bercow (British MP's wife TV appearance upsets establishment, August 23). Even in the West, it seems, a woman can't have her own professional or public life without people saying it reflects badly on her husband. To me, she is much less stuffy than he is. Politicians need more of the common touch, not less.

Maude Hammersly, Dubai

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.”

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

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