Abu Dhabi will ban the use of plastic bags from Wednesday, while Dubai will introduce a charge of 25 fils ($0.06) for single-use bags from July 1.
Dubai said the mandatory tariff will be applied to all single-use bags made of plastic, paper, biodegradable plastic and plant-based biodegradable materials that are 57 micrometres thick (a micrometre is one-thousandth of a millimetre).
In announcing the update, Dubai Municipality said shops were not obliged to provide free alternatives, as the goal is to push a change in consumer behaviour to protect the environment. A full ban on single-use plastic bags will be introduced in Dubai in two years.
Supermarkets in both emirates have been preparing for the changes and have urged shoppers to choose long-life alternatives.
The options below come at a wide variety of price points and styles and can be stashed in your car, purse or backpack for maximum convenience.
Reusable plastic bags
Large, high-density polyethylene (HDPE) bags are thicker and more durable than single-use ones.
These are non-biodegradable but are made to be reused many times, making them a better option than the disposable ones.
They are currently available at checkout counters of most supermarkets including Carrefour, Choithrams, Lulu’s and Spinney’s and generally cost Dh2.5 to Dh5.
These bags come in different designs and some shops such as Carrefour have even instituted trade-in programmes where they will replace worn out ones for nothing.
Jute bags
Jute bags are one of the most durable options and are naturally biodegradable.
These sustainable items are slightly more expensive than reusable plastic ones but are much more environmentally friendly.
They are available for as little as Dh10 at Carrefour.
High-end options can cost up to Dh50 at other retailers.
Canvas tote bags
Canvas is another durable option similar to jute.
Such bags may not be as environmentally friendly because they require more resources to produce and distribute but they can be reused many times.
Canvas totes are often adorned with stylish or colourful designs and cost about Dh40.
Key-ring tote bags
These bags are known for their ability to fold down and be stored in an attached pouch about the size of an egg, which can then be stuffed in a pocket or attached to a key ring or backpack.
They are portable and can be cleaned in a washing machine.
Paper bags
While these bags generate waste, paper can be recycled so it is a preferable alternative if you forget your reusable bag.
Paper bags are currently available at several supermarket chains including Choithrams and some Zoom locations.
Personal shopping trolley bags
These foldable bags on wheels are perfect for those walking home from the supermarket – or even those with a long trek back to their vehicle through an expansive car park.
While previously relegated to the domain of “granny chic,” carts are back in vogue and can be purchased for Dh40-Dh100.
Mesh bags/reusable plastic produce bags
The plastic bags used for produce can easily be replaced with mesh bags or reusable plastic ones for fruits and veggies.
Get a set of three Evriholder reusable produce bags for Dh20 at Homesmith stores
Reuse single-use plastic bags
Even disposable plastic bags can be reused a couple of times.
Instead of immediately throwing them away, try stashing them under your sink for future use as an impromptu lunch sack, pet waste pick-up bag and more.
Countries around the world that have already banned plastic bags - in pictures
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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RESULTS
6.30pm UAE 1000 Guineas Trial Conditions (TB) US$100,000 (Dirt) 1,400m
Winner Final Song, Christophe Soumillon (jockey), Saeed bin Suroor (trainer).
7.05pm Handicap (TB) $135,000 (Turf) 1,000m
Winner Almanaara, Dane O’Neill, Doug Watson.
7.40pm Handicap (TB) $175,000 (D) 1,900m
Winner Grand Argentier, Brett Doyle, Doug Watson.
8.15pm Meydan Challenge Listed Handicap (TB) $175,000 (T) 1,400m
Winner Major Partnership, Patrick Cosgrave, Saeed bin Suroor.
8.50pm Dubai Stakes Group 3 (TB) $200,000 (D) 1,200m
Winner Gladiator King, Mickael Barzalona, Satish Seemar.
9.25pm Dubai Racing Club Classic Listed Handicap (TB) $175,000 (T) 2,410m
Winner Universal Order, Richard Mullen, David Simcock.
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
GRAN%20TURISMO
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5