A spectacular night of fireworks brought an end to 2021 and welcomed the New Year in style across the UAE.
No other nation does New Year's celebrations quite like the UAE, with Dubai heralding 2022 with the usual night of colour and noise, as fireworks and a light show dazzled onlookers in Downtown Dubai, where Burj Khalifa took centre stage at the stroke of midnight.
We are lucky to be in Dubai as we get to party twice in one night
Kingkade Niyomsen
Pyrotechnic displays were triggered across the emirate, from Global Village to La Mer, Al Seef and Burj Al Arab and all the way to Bluewaters Island.
Those on Abu Dhabi's Yas Island were treated to two displays at 9pm and again at midnight, with another fantastic display launched at the Corniche as the clock struck 12.
Al Maryah Island and Saadiyat Beach Club also joined the party with spectacular displays of their own.
Sheikh Zayed Festival's New Year's Eve celebrations in Abu Dhabi saw a 40-minute fireworks display that set records for volume, duration and form.
A giant drone show that lit up the skies of Al Wathba included 2,022 drones that formed a portrait of Sheikh Zayed, the Founding Father.
It was a special night in Ras Al Khaimah, where two world records were set during an astonishing 12-minute display.
The two records were for the most remote-operated multirotor and drone-launching fireworks, and the highest altitude multirotor and drone firework display.
At midnight at Expo 2020, a huge glittering ball descended from the roof of Al Wasl Plaza, accompanied by live DJ sets from Dimitri Vegas and Armin Van Buuren.
Pockets of noise and celebrations scattered across Expo 2020 could be heard throughout the day as pavilions rang in the New Year in unison with their home nations.
The party started in the South Pacific exhibitions, with New Zealand, Samoa and Tonga being the first to enter 2022 at 3pm.
The Southern Hemisphere followed, with an explosion of silver ticker tape and golden balloons spelling out 2022 outside the pavilions.
New Year's Eve celebrations in Abu Dhabi - in pictures
The Solomon Islands was one of the first nations to celebrate the New Year at 5pm.
“It was very strange celebrating the New Year on the other side of the planet,” said Dennis Marita, director of the Solomon Islands pavilion.
“Being away from family is tough, of course. I have a new granddaughter and four children.
“We usually have a barbecue with family and friends. At midnight, there is a lot of noise, there are no fireworks, as they are expensive, but we have lots of fun.
“There are different ways to celebrate — some have fun, others play jokes on each other, like throw mud and water about.
“It is a lot of fun and we all try to get together with our families.”
Celebrating New Year's at Expo 2020 was the chance of a lifetime for many, with parties and special events planned until the early hours of January 1.
But not all pavilions participated in the celebrations, with the UK exhibition being one of several to close early, shutting its doors at 8pm.
Crowds were substantially thinner than National Day only four weeks earlier, possibly due to rising cases of Covid-19 and the threat of strong weather.
Parts of Dubai had been hit by torrential downpours earlier in the day.
Those who did attend were offered free access to Expo 2020 on New Year’s Day — a public holiday in the UAE.
As the clock chimed 9pm, it was Thailand's turn to join in the festivities, as Bangkok is three hours ahead of the UAE.
Kingkade Niyomsen from Bangkok said the celebration was extra special and would leave a lasting memory.
“We are lucky to be in Dubai as we get to party twice in one night,” said Ms Niyomsen, who celebrated outside the Thailand pavilion where a countdown was beamed on a big screen.
“We are far from home, but being in Dubai at this time has made it feel special.
“It has been a great atmosphere here all day and we will try to stay up to celebrate as many New Years as possible. We only get to do this once.”
Drummers took to the stage at the Thailand pavilion as the countdown towards 2022 began, followed by a live performance of traditional Thai dancers dressed as dragons.
Kasititorn Pooparadai, director of the Thailand pavilion, said special attention had been paid to the celebrations.
“The show we have put on was extra special to celebrate the New Year,” she said.
“It is difficult being away from our families, but I spoke with my family earlier today to wish them well before it got too late in Thailand.
“Usually, in the days before Covid, New Year is very special in Bangkok — particularly for young people.
“Everyone gets together and it is a big party, with fireworks and a family meal — also, it is a great time to get us all together, but not this year.
“We can only hope 2022 is a better year for everyone.”
New Year's Eve celebrations around the world - in pictures
Ways to control drones
Countries have been coming up with ways to restrict and monitor the use of non-commercial drones to keep them from trespassing on controlled areas such as airports.
"Drones vary in size and some can be as big as a small city car - so imagine the impact of one hitting an airplane. It's a huge risk, especially when commercial airliners are not designed to make or take sudden evasive manoeuvres like drones can" says Saj Ahmed, chief analyst at London-based StrategicAero Research.
New measures have now been taken to monitor drone activity, Geo-fencing technology is one.
It's a method designed to prevent drones from drifting into banned areas. The technology uses GPS location signals to stop its machines flying close to airports and other restricted zones.
The European commission has recently announced a blueprint to make drone use in low-level airspace safe, secure and environmentally friendly. This process is called “U-Space” – it covers altitudes of up to 150 metres. It is also noteworthy that that UK Civil Aviation Authority recommends drones to be flown at no higher than 400ft. “U-Space” technology will be governed by a system similar to air traffic control management, which will be automated using tools like geo-fencing.
The UAE has drawn serious measures to ensure users register their devices under strict new laws. Authorities have urged that users must obtain approval in advance before flying the drones, non registered drone use in Dubai will result in a fine of up to twenty thousand dirhams under a new resolution approved by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai.
Mr Ahmad suggest that "Hefty fines running into hundreds of thousands of dollars need to compensate for the cost of airport disruption and flight diversions to lengthy jail spells, confiscation of travel rights and use of drones for a lengthy period" must be enforced in order to reduce airport intrusion.
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
SPECS
Nissan 370z Nismo
Engine: 3.7-litre V6
Transmission: seven-speed automatic
Power: 363hp
Torque: 560Nm
Price: Dh184,500
The five pillars of Islam
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Wes%20Ball%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Owen%20Teague%2C%20Freya%20Allen%2C%20Kevin%20Durand%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3.5%2F5%3C%2Fp%3E%0A
Cherry
Directed by: Joe and Anthony Russo
Starring: Tom Holland, Ciara Bravo
1/5
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
'Peninsula'
Stars: Gang Dong-won, Lee Jung-hyun, Lee Ra
Director: Yeon Sang-ho
Rating: 2/5
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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.”
Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Cargoz%3Cbr%3E%3Cstrong%3EDate%20started%3A%3C%2Fstrong%3E%20January%202022%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Premlal%20Pullisserry%20and%20Lijo%20Antony%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2030%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Seed%3C%2Fp%3E%0A
THE BIO
Age: 33
Favourite quote: “If you’re going through hell, keep going” Winston Churchill
Favourite breed of dog: All of them. I can’t possibly pick a favourite.
Favourite place in the UAE: The Stray Dogs Centre in Umm Al Quwain. It sounds predictable, but it honestly is my favourite place to spend time. Surrounded by hundreds of dogs that love you - what could possibly be better than that?
Favourite colour: All the colours that dogs come in
KILLING OF QASSEM SULEIMANI