• Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, has officially opened the UAE's freight train network. Photo: Dubai Media Office
    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, has officially opened the UAE's freight train network. Photo: Dubai Media Office
  • The freight trains have a capacity of transporting 60 million tonnes of goods per year and can run up to 120kph. Photo: Abu Dhabi Media Office
    The freight trains have a capacity of transporting 60 million tonnes of goods per year and can run up to 120kph. Photo: Abu Dhabi Media Office
  • Sheikh Mohammed and Sheikh Hamdan sat in a carriage with other officials. Photo: Dubai Media Office
    Sheikh Mohammed and Sheikh Hamdan sat in a carriage with other officials. Photo: Dubai Media Office
  • Etihad Rail completes the UAE's first marine rail bridge at Khalifa Port, Abu Dhabi. Khushnum Bhandari / The National
    Etihad Rail completes the UAE's first marine rail bridge at Khalifa Port, Abu Dhabi. Khushnum Bhandari / The National
  • Etihad Rail completes the UAE's first marine rail bridge at Khalifa Port, Abu Dhabi. Khushnum Bhandari / The National
    Etihad Rail completes the UAE's first marine rail bridge at Khalifa Port, Abu Dhabi. Khushnum Bhandari / The National
  • Etihad Rail's new bridge passes over Al Qudra Road where it meets Emirates Road. Photo: Etihad Rail
    Etihad Rail's new bridge passes over Al Qudra Road where it meets Emirates Road. Photo: Etihad Rail
  • The 1,200km rail bridge is the longest on Dubai's mainline network, Etihad Rail said in a post on its social media channels
    The 1,200km rail bridge is the longest on Dubai's mainline network, Etihad Rail said in a post on its social media channels
  • It will be UAE's first marine bridge at Khalifa Port. Khushnum Bhandari / The National
    It will be UAE's first marine bridge at Khalifa Port. Khushnum Bhandari / The National
  • It stretches a kilometre across the Arabian Gulf and connects Abu Dhabi’s sprawling Khalifa Port to the emirate's mainland. Khushnum Bhandari / The National
    It stretches a kilometre across the Arabian Gulf and connects Abu Dhabi’s sprawling Khalifa Port to the emirate's mainland. Khushnum Bhandari / The National
  • An Etihad Rail train is included in the 51st National Day official ceremony, at the Abu Dhabi National Exhibition Centre. Photo: Presidential Court
    An Etihad Rail train is included in the 51st National Day official ceremony, at the Abu Dhabi National Exhibition Centre. Photo: Presidential Court
  • Oman Rail and Etihad Rail signed a deal to link countries by passenger train. Photo: Abu Dhabi Media Office
    Oman Rail and Etihad Rail signed a deal to link countries by passenger train. Photo: Abu Dhabi Media Office
  • Etihad Rail displays prototype of its passenger train
    Etihad Rail displays prototype of its passenger train
  • Construction underway on the rail bridge. Photo: Etihad Rail
    Construction underway on the rail bridge. Photo: Etihad Rail
  • Etihad Rail's new locomotive fleet is delivered. Photo: Etihad Rail
    Etihad Rail's new locomotive fleet is delivered. Photo: Etihad Rail
  • The first stage of the rail network links gasfields in Shah and Habshan to Ruwais in Abu Dhabi. Photo: Abu Dhabi Media Office
    The first stage of the rail network links gasfields in Shah and Habshan to Ruwais in Abu Dhabi. Photo: Abu Dhabi Media Office
  • Sheikh Theyab bin Mohamed, member of the Abu Dhabi Executive Council, visited Etihad Rail project sites in Sharjah and Fujairah to inspect progress. Photo: Abu Dhabi Media office
    Sheikh Theyab bin Mohamed, member of the Abu Dhabi Executive Council, visited Etihad Rail project sites in Sharjah and Fujairah to inspect progress. Photo: Abu Dhabi Media office
  • The rail bridge in Fujairah. Photo: Etihad Rail
    The rail bridge in Fujairah. Photo: Etihad Rail
  • The rail bridge will provide a fast transport link between Fujairah and Dubai. Photo: Etihad Rail
    The rail bridge will provide a fast transport link between Fujairah and Dubai. Photo: Etihad Rail
  • The bridge is located in Al Bithnah, Fujairah. Etihad Rail said it will act as the rail gateway to the UAE’s east coast and facilitate trade to and from Fujairah. Photo: Etihad Rail
    The bridge is located in Al Bithnah, Fujairah. Etihad Rail said it will act as the rail gateway to the UAE’s east coast and facilitate trade to and from Fujairah. Photo: Etihad Rail
  • It passes through the Hajar Mountains and is 600 metres long. Construction for the Northern Emirates network involves building 54 bridges and nine tunnels across the mountains. Photo: Etihad Rail
    It passes through the Hajar Mountains and is 600 metres long. Construction for the Northern Emirates network involves building 54 bridges and nine tunnels across the mountains. Photo: Etihad Rail
  • The bridge in the backdrop of picturesque mountains in the distance. Photo: Etihad Rail
    The bridge in the backdrop of picturesque mountains in the distance. Photo: Etihad Rail
  • Heavy machinery on the contruction site. Photo: Etihad Rail
    Heavy machinery on the contruction site. Photo: Etihad Rail
  • The passenger and freight service is expected to carry more than 36 million passengers a year by 2030. Photo: Etihad Rail
    The passenger and freight service is expected to carry more than 36 million passengers a year by 2030. Photo: Etihad Rail
  • Sheikh Maktoum bin Mohammed, Deputy Prime Minister and Minister of Finance, with Sheikh Theyab bin Mohamed at the construction site of the bridge. Photo: @MaktoumMohammed via Twitter
    Sheikh Maktoum bin Mohammed, Deputy Prime Minister and Minister of Finance, with Sheikh Theyab bin Mohamed at the construction site of the bridge. Photo: @MaktoumMohammed via Twitter
  • A rail line worker at the site. Victor Besa / The National
    A rail line worker at the site. Victor Besa / The National
  • A behind the scenes look at construction of the new rail line. Victor Besa / The National
    A behind the scenes look at construction of the new rail line. Victor Besa / The National
  • Exteroir render of the passenger train. Photo: Etihad Rail
    Exteroir render of the passenger train. Photo: Etihad Rail
  • This is how the Etihad Rail passenger train will look from the inside. Photo: Etihad Rail
    This is how the Etihad Rail passenger train will look from the inside. Photo: Etihad Rail
  • Internal renderings of the passenger train: Etihad Rail
    Internal renderings of the passenger train: Etihad Rail
  • President Sheikh Mohamed and Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, watch a presentation on the progress of the project. Photo: Dubai Media Office
    President Sheikh Mohamed and Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, watch a presentation on the progress of the project. Photo: Dubai Media Office
  • Sheikh Hamad bin Mohammed Al Sharqi, the Ruler of Fujairah, accepts a gift from Sheikh Theyab bin Mohamed during a ceremony to celebrate the completion of tunnel excavations. Also pictured are Sheikh Mohammed bin Hamad Al Sharqi, Crown Prince of Fujairah, Sheikh Maktoum bin Hamad Al Sharqi and Shadi Malik, chief executive of Etihad Rail, left. Photo: MOPA
    Sheikh Hamad bin Mohammed Al Sharqi, the Ruler of Fujairah, accepts a gift from Sheikh Theyab bin Mohamed during a ceremony to celebrate the completion of tunnel excavations. Also pictured are Sheikh Mohammed bin Hamad Al Sharqi, Crown Prince of Fujairah, Sheikh Maktoum bin Hamad Al Sharqi and Shadi Malik, chief executive of Etihad Rail, left. Photo: MOPA
  • HH Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Department of Transport and Abu Dhabi Executive Council Member, and HH Sheikh Hamad bin Mohamed Al Sharqi, UAE Supreme Council Member and Ruler of Fujairah drive through a new tunnel on the rail route. Photo: MOPA
    HH Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Department of Transport and Abu Dhabi Executive Council Member, and HH Sheikh Hamad bin Mohamed Al Sharqi, UAE Supreme Council Member and Ruler of Fujairah drive through a new tunnel on the rail route. Photo: MOPA
  • Workers inside the 1.8km train tunnel in Fujairah. It is the largest of nine tunnels carved through the Hajar Mountains. Pawan Singh / The National
    Workers inside the 1.8km train tunnel in Fujairah. It is the largest of nine tunnels carved through the Hajar Mountains. Pawan Singh / The National
  • The tunnel's construction in Fujairah. Pawan Singh / The National
    The tunnel's construction in Fujairah. Pawan Singh / The National
  • Once complete, the Etihad Rail network will connect all of the Emirates – from Ghweifat in Al Dhafra region of Abu Dhabi to Fujairah on the east coast. It will also link with Saudi Arabia. Photo: AFP
    Once complete, the Etihad Rail network will connect all of the Emirates – from Ghweifat in Al Dhafra region of Abu Dhabi to Fujairah on the east coast. It will also link with Saudi Arabia. Photo: AFP
  • Engineers work on an Etihad Rail train at Al Mirfa. While freight is the immediate priority, passenger transport is also a key focus. Photo: AFP
    Engineers work on an Etihad Rail train at Al Mirfa. While freight is the immediate priority, passenger transport is also a key focus. Photo: AFP
  • The rail network includes 15 tunnels through the Hajar Mountains with a total length of 16km as well as the construction of 35 bridges and 32 underpasses. Photo: AFP
    The rail network includes 15 tunnels through the Hajar Mountains with a total length of 16km as well as the construction of 35 bridges and 32 underpasses. Photo: AFP
  • Sheikh Theyab took a 10km train ride. He thanked UAE leaders for their support for the project. Photo: Abu Dhabi Media
    Sheikh Theyab took a 10km train ride. He thanked UAE leaders for their support for the project. Photo: Abu Dhabi Media
  • Sheikh Hamdan bin Zayed, Ruler’s Representative in Al Dhafra Region, at the inauguration of Etihad Rail project at Ruwais. Photo: MOPA
    Sheikh Hamdan bin Zayed, Ruler’s Representative in Al Dhafra Region, at the inauguration of Etihad Rail project at Ruwais. Photo: MOPA
  • Sheikh Hamdan bin Zayed with a member of the rail line's construction team. Photo: MOPA
    Sheikh Hamdan bin Zayed with a member of the rail line's construction team. Photo: MOPA

Etihad Rail map: what does the route look like and where does it go?


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The railway line between Abu Dhabi and Dubai was linked in March and connected to Ras Al Khaimah and Sharjah in October.

Between Abu Dhabi and Dubai, the line stretches for 256 kilometres and includes 29 bridges, 60 crossings and 137 drainage channels.

In Sharjah, it runs for 45km, while the Ras Al Khaimah line extends over 5.7km and connects the emirate to the project's main tracks.

The main Etihad Rail network will run for 1,200km across the UAE, from the border of Saudi Arabia to Fujairah.

It has also been announced that the line will be extended into Oman. The agreement to build the Omani portion of the rail network was signed on September 29 during the President Sheikh Mohamed's state visit to Oman.

The line will carry freight and passengers to connect Abu Dhabi with Sohar in the north of Muscat.

Meanwhile, while launch dates for the UAE passenger line and the exact route for this service have not yet been announced, plans to build the first passenger station in Fujairah have been unveiled.

How will the passenger service transform UAE public transport?

The passenger trains will travel at speeds of up to 200kph, linking 11 cities and areas. Each train will carry about 400 people.

Carriages will be equipped with amenities such as Wi-Fi, entertainment systems, charging points and food and beverages.

There will also be different seating areas, including first class, business class and economy.

  • Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, and Sheikh Theyab bin Mohamed, chairman of the Abu Dhabi Crown Prince’s Court and Etihad Rail. All photos: @MaktoumMohammed via Twitter
    Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, and Sheikh Theyab bin Mohamed, chairman of the Abu Dhabi Crown Prince’s Court and Etihad Rail. All photos: @MaktoumMohammed via Twitter
  • Sheikh Maktoum bin Mohammed with Sheikh Theyab bin Mohammed. The first railway between Abu Dhabi and Dubai is now complete, the authorities said on Tuesday.
    Sheikh Maktoum bin Mohammed with Sheikh Theyab bin Mohammed. The first railway between Abu Dhabi and Dubai is now complete, the authorities said on Tuesday.
  • Sheikh Maktoum bin Mohammed with Sheikh Theyab bin Mohammed. The new rail line stretches for 256 kilometres and includes 29 bridges, 60 crossings and 137 drainage channels, Abu Dhabi Media Office said.
    Sheikh Maktoum bin Mohammed with Sheikh Theyab bin Mohammed. The new rail line stretches for 256 kilometres and includes 29 bridges, 60 crossings and 137 drainage channels, Abu Dhabi Media Office said.
  • Sheikh Maktoum bin Mohammed with Sheikh Theyab bin Mohammed of Etihad Rail. The segment of line is a key part of Etihad Rail's network that will carry passengers and freight between the emirates and eventually across the country.
    Sheikh Maktoum bin Mohammed with Sheikh Theyab bin Mohammed of Etihad Rail. The segment of line is a key part of Etihad Rail's network that will carry passengers and freight between the emirates and eventually across the country.
  • Railroad workers of Etihad Rail pictured during a tour by The National in January 2022. Victor Besa / The National
    Railroad workers of Etihad Rail pictured during a tour by The National in January 2022. Victor Besa / The National
  • Railroad workers preparing tracks at the depot. Victor Besa / The National
    Railroad workers preparing tracks at the depot. Victor Besa / The National
  • The overpass view along the E77 and E611 highway junction near the MAG 5 Boulevard area in Dubai. Victor Besa / The Nationalr
    The overpass view along the E77 and E611 highway junction near the MAG 5 Boulevard area in Dubai. Victor Besa / The Nationalr
  • Etihad Rail depot at Saih Shuaib area. Victor Besa / The National
    Etihad Rail depot at Saih Shuaib area. Victor Besa / The National
  • One day soon passenger services will run along this line. Victor Besa / The National
    One day soon passenger services will run along this line. Victor Besa / The National
  • One day soon passenger services will run along this line. Victor Besa / The National
    One day soon passenger services will run along this line. Victor Besa / The National

Customers can expect a travel time of 50 minutes between Abu Dhabi and Dubai and about 100 minutes from Abu Dhabi to Fujairah, cutting commutes significantly.

Once operational, the service is expected to carry more than 36 million people annually by 2030.

The railway, as the maps show, will link the principal centres of trade, industry, manufacturing, production, logistics, population and all the major import and export points of the UAE, while forming an integral part of the GCC railway network. ‍

Additions or changes to the route can be expected, but Etihad Rail said 70 per cent of the network had now been built.

Etihad Rail's network map. The grey line is stage one, which is the already operational line from Shah to Ruwais. The other colours - green, red, blue and green - are part of stage two. Stage two is still under construction. Photo: Etihad Rail
Etihad Rail's network map. The grey line is stage one, which is the already operational line from Shah to Ruwais. The other colours - green, red, blue and green - are part of stage two. Stage two is still under construction. Photo: Etihad Rail

Stage one — a freight service linking the gasfields at Shah and Habshan to Ruwais — opened in 2016. Each day, it carries up to 22,000 tonnes of granulated sulphur from Habshan and Shah to Ruwais for Abu Dhabi National Oil Company.

Stage two joins Ghuwaifat in the west to Fujairah on the east. The maps shows the stages of construction, or packages, as they have been called.

News that the line between Abu Dhabi and Dubai had been linked was announced by Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, and Sheikh Theyab bin Mohamed, Member of the Abu Dhabi Executive Council and Chairman of Etihad Rail.

Striking image highlights progress

Construction of the Etihad Rail railway in Fujairah. Photo: Etihad Rail
Construction of the Etihad Rail railway in Fujairah. Photo: Etihad Rail

Etihad Rail published an aerial photograph in August to show the progress of the line on the UAE's east coast.

The image, posted to its social media channels, shows the railway cutting through Fujairah's Hajar Mountains and headed for the coast.

“Our National Railway network traverses through the Hajar mountains and extends for 145km, connecting the borders of Sharjah and going through Fujairah all the way to Ras Al Khaimah, providing a safe and efficient means of transportation across the unique topography created by the scenic mountains into the other emirates,” said Etihad Rail in a message accompanying the picture.

Freight trains

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, officially opened the UAE's freight train network and said that the national railway network is a vital milestone in the country’s development journey and a groundbreaking initiative that strengthens the country’s preparations for the future.

Across the network, trains will traverse 593 bridges and nine tunnels that will make up a distance of 6.5km when complete.

The logistics operation will be carried out using 38 modern freight trains with a capacity of 60 million tonnes annually, and more than 1,000 multi-purpose vehicles.

Each goods locomotive operates with 4,500 horsepower, equivalent to 3,400 kilowatts.

With the capacity to move at up to 120 kilometres per hour, these will be among the most powerful freight train engines in the Middle East, specially designed to withstand the landscape, climate, temperatures and humidity of the GCC region.

The trains will connect four major ports and include seven logistics centres across the country.

Charging stations will serve the network at Ruwais, Industrial City of Abu Dhabi (ICAD), Khalifa Port, Dubai Industrial City, Jebel Ali Port, Al Ghail and Fujairah Port, as each is a major hub for local and regional distribution and logistics services, with customs warehouses and on-site cargo inspection services.

The UAE National Railway Network will provide solutions for investors and customers, due to its ability to transport all types of goods, including petrochemicals, raw steel and limestone.

Benefits of rail

The project is expected to contribute Dh200 billion to the national economy by 2050, save Dh8 billion in road maintenance costs and provide Dh23 billion in tourism revenue.

Sheikh Theyab said the project will accelerate the country’s economic development.

“Emirati talent with the support of the UAE leadership, has turned the dream of our founding fathers into reality,” he said.

“Thanks to them, we won the bet, and we succeeded in launching a railway network with international specifications that extends to about 900km across the Emirates."

This is a version of an article that was first published in March, 2022.

Etihad Rail’s route from Abu Dhabi to Dubai — in pictures

  • Railroad workers preparing tracks at a depot in January 2022. There has been rapid progress on a new line that will eventually carry passengers. All photos: Victor Besa / The National
    Railroad workers preparing tracks at a depot in January 2022. There has been rapid progress on a new line that will eventually carry passengers. All photos: Victor Besa / The National
  • The new Etihad Rail line will connect 11 cities and areas across the UAE from Al Sila in the west to Fujairah in the north.
    The new Etihad Rail line will connect 11 cities and areas across the UAE from Al Sila in the west to Fujairah in the north.
  • Work on the railway at Saih Shuaib.
    Work on the railway at Saih Shuaib.
  • Etihad Rail workers on a railroad overpass along the E77 and E611 highway junction in Dubai.
    Etihad Rail workers on a railroad overpass along the E77 and E611 highway junction in Dubai.
  • The overpass view along the E77 and E611 highway junction.
    The overpass view along the E77 and E611 highway junction.
  • Etihad Rail says stations will celebrate the joy of travelling and designs will speak to regional traditions.
    Etihad Rail says stations will celebrate the joy of travelling and designs will speak to regional traditions.
  • Some of the new stations will be built in the cities but the locations have not been yet announced.
    Some of the new stations will be built in the cities but the locations have not been yet announced.
  • The Abu Dhabi to Dubai line is central to the project.
    The Abu Dhabi to Dubai line is central to the project.
  • The train driver takes the diesel inspection line down the tracks.
    The train driver takes the diesel inspection line down the tracks.
  • The Abu Dhabi to Dubai section of the track runs parallel to the Emirates Road (E611) motorway.
    The Abu Dhabi to Dubai section of the track runs parallel to the Emirates Road (E611) motorway.
  • Newly laid tracks at the Dubai South area.
    Newly laid tracks at the Dubai South area.
  • Railroad workers preparing tracks.
    Railroad workers preparing tracks.
  • An Etihad Rail worker on the Abu Dhabi to Dubai line.
    An Etihad Rail worker on the Abu Dhabi to Dubai line.
  • An Etihad Rail depot at Saih Shuaib.
    An Etihad Rail depot at Saih Shuaib.
  • Passengers will also be able to use park and rides.
    Passengers will also be able to use park and rides.
  • Passengers can expect travel time of 50 minutes between Abu Dhabi and Dubai and about 100 minutes from Abu Dhabi to Fujairah.
    Passengers can expect travel time of 50 minutes between Abu Dhabi and Dubai and about 100 minutes from Abu Dhabi to Fujairah.
  • Construction of the UAE-wide network is advancing rapidly with close to 70 per cent of the twin-track route complete.
    Construction of the UAE-wide network is advancing rapidly with close to 70 per cent of the twin-track route complete.
  • The addition of the passenger rail service marked an important moment for Etihad Rail since its establishment in 2009.
    The addition of the passenger rail service marked an important moment for Etihad Rail since its establishment in 2009.
  • The rail track snakes through the desert.
    The rail track snakes through the desert.
  • An Etihad Rail employee on the inspection line.
    An Etihad Rail employee on the inspection line.
  • Three Etihad Rail workers take a rest, with the inspection train on right.
    Three Etihad Rail workers take a rest, with the inspection train on right.
  • Stage two of the project joins Ghuweifat on the border with Saudi Arabia to Fujairah on the east coast in a line running for about 1,200km.
    Stage two of the project joins Ghuweifat on the border with Saudi Arabia to Fujairah on the east coast in a line running for about 1,200km.
  • The passenger service is expected to carry more than 36 million passengers annually by the end of the decade.
    The passenger service is expected to carry more than 36 million passengers annually by the end of the decade.
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THE SPECS

Engine: 3-litre V6

Transmission: eight-speed automatic

Power: 424hp

Torque: 580 Nm

Price: From Dh399,000

On sale: Now

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
THE SPECS

Engine: 1.5-litre, four-cylinder turbo

Transmission: seven-speed dual clutch automatic

Power: 169bhp

Torque: 250Nm

Price: Dh54,500

On sale: now

Who's who in Yemen conflict

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Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

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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Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

HAJJAN
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UAE%20v%20West%20Indies
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How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Results

2.15pm: Maiden (PA) Dh40,000 1,700m; Winner: AF Arrab, Antonio Fresu (jockey), Ernst Oertel (trainer).

2.45pm: Maiden (PA) Dh40,000 1,700m; Winner: AF Mahaleel, Antonio Fresu, Ernst Oertel.

3.15pm: Sheikh Ahmed bin Rashid Al Maktoum handicap (TB) Dh200,000 2,000m; Winner: Dolmen, Richard Mullen, Satish Seemar.

3.45pm: Handicap (PA) Dh40,000 1,200m; Winner: Amang Alawda, Sandro Paiva, Bakhit Al Ketbi.

4.15pm: The Crown Prince of Sharjah Cup Prestige (PA) Dh200,000 1,200m; Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel.

4.45pm: Handicap (PA) Dh40,000 2,000m; Winner: Al Jazi, Jesus Rosales, Eric Lemartinel.

Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

Updated: February 24, 2023, 9:25 AM