Inspectors in Abu Dhabi have been granted powers to hand out hefty fines of up to Dh1 million ($272,257) to those who damage the environment.
There are 99 breaches covered under the new law, which grants Environment Agency Abu Dhabi the ability to issue penalties to people, projects and facilities.
They punish acts from graffiti to the discharge of toxic waste and the destruction of mangroves and marine environments.
Fines start at Dh1,000 and rise to Dh1m for repeat offences.
“The value of the fine is determined based on the type of the violation and the recurrence rate,” said a spokeswoman for the agency.
“The value of each fine is determined in accordance with the recurrence of the violation, gradually increasing upon the second and next violations.
“The value of the administrative fines ranges between Dh1,000 and Dh1m depending on the nature of the violation and the extent of the damage it causes to the environment.”
The powers also include the possibility of reconciliation — giving people and organisations the chance to fix the damage, according to criteria issued by the agency, in return for a reduction of up to 25 per cent in the fine.
The agency’s new powers to fine those who break the law, resulting from a resolution issued by Sheikh Hamdan bin Zayed, who is chairman of the EAD, come as authorities stepped up patrols of an ancient rock formation after it was damaged by vandals.
A carving and message scrawled in graffiti were discovered at the site by volunteers during a clean-up event last April.
An EAD team removed the spray paint and the area has since been granted protected status.
Potential breaches and fines
Under the agency’s new powers, anyone found spray-painting graffiti in an open-air area can be fined Dh5,000 for a first offence, rising to Dh10,000 if the offence is repeated and Dh20,000 thereafter.
Other offences include destruction, removal or having a negative impact on natural marine habitats such as mangroves, coral reefs, seagrass and marshes. This leads to a Dh20,000 fine for a first offence, Dh50,000 for another and Dh100,000 thereafter.
Spearfishing using compressed air cylinders and surface air supply tubes without a licence from the EAD is also punishable with a first-time fine of Dh20,000, a penalty of Dh50,000 for a second and Dh100,000 thereafter.
Failure of a facility to conduct periodic maintenance work leading to pollution costs is Dh20,000 for a first offence, Dh50,000 on for a second and Dh100,000 thereafter.
The most serious offence, with the highest fine, is the discharge of toxic or hazardous material into the sewer or rainwater network. That leads to a fine of Dh150,000, rising to Dh500,000 if the offence is repeated and Dh1m each time thereafter.
The discharge of polluted “non-degradable materials” into the terrestrial or marine environment is punishable with a fine of Dh100,000, rising to Dh200,000 if repeated and Dh500,000 each time thereafter.
MATCH INFO
Barcelona 5 (Lenglet 2', Vidal 29', Messi 34', 75', Suarez 77')
Valladolid 1 (Kiko 15')
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
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The biog
Siblings: five brothers and one sister
Education: Bachelors in Political Science at the University of Minnesota
Interests: Swimming, tennis and the gym
Favourite place: UAE
Favourite packet food on the trip: pasta primavera
What he did to pass the time during the trip: listen to audio books
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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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Transmission: Single-speed automatic
Touring range: 591km
Price: From Dh412,500
On sale: Deliveries start in October
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
CREW
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Sevilla 0
Red cards: Ronald Araujo, Ousmane Dembele (Barcelona)
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
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UAE Conference: Winners – Dubai Tigers; Runners-up – Al Ain Amblers
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England-South Africa Test series
1st Test England win by 211 runs at Lord's, London
2nd Test South Africa win by 340 runs at Trent Bridge, Nottingham
3rd Test July 27-31 at The Oval, London
4th Test August 4-8 at Old Trafford, Manchester