UAE weather: heavy rain reported in the east of the country


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Rain has started to fall in some parts of the UAE this afternoon, as the unusual weather persists across the country.

The National Centre of Meteorology reported heavy rain in parts of Al Ain, Nazwa in Sharjah and Lahbab and Margham in the eastern part of Dubai.

The Ministry of Interior urged people to follow the safety guidance issued by authorities in each emirate.

"MOI calls for caution and adherence to safety and prevention instructions issued by the authorities, as some eastern and southern regions of the country will witness a state of instability accompanied by rain and winds of varying intensity that raise dust," it said in an update on Thursday.

Videos shared by NCM showed heavy rainfall in eastern part of the country.

Earlier, NCM said conditions across the Emirates would be cloudy at times, with a chance of some rain, with convective cloud formation in the afternoon over some eastern and southern areas.

There will also be light to moderate winds, fresh and strong at times, blowing dust and sand. Temperatures will reach a maximum of 45ºC in Al Ain, 44ºC in Abu Dhabi, 43ºC in Dubai, 42ºC in Ras Al Khaimah and 36ºC in Fujairah.

Looking to Friday, the centre said the weather would be “fair to partly cloudy, in general, with a probability of some convective cloud formation eastward by afternoon”.

The winds will be light to moderate, freshening at times and blowing dust, with speeds of up to 40kph.

On Saturday, it will be partly cloudy while winds will be light to moderate, with speeds of 35kph.

Sunday is expected to be largely the same, with partly cloudy conditions accompanied by light to moderate winds, freshening at times and reaching speeds of 35kph.

Record rainfall and devastating floods affected large parts of the Northern Emirates last week.

The heaviest rainfall in 30 years caused severe flooding in parts of Fujairah and Sharjah last Thursday, with more than 800 people rescued by emergency personnel. Seven people lost their lives in the deluge.

Hundreds of volunteers took to the streets in Fujairah, accompanied by a member of the emirate's ruling family, to help clear debris and rainwater left behind by the flash floods.

Fujairah ruling family member joins major clean-up operation after emirate hit by floods

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Tank warfare

Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks. 

“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.

“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”

MATCH INFO

Liverpool 2 (Van Dijk 18', 24')

Brighton 1 (Dunk 79')

Red card: Alisson (Liverpool)

Gifts exchanged
  • King Charles - replica of President Eisenhower Sword
  • Queen Camilla -  Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
  • Donald Trump - hand-bound leather book with Declaration of Independence
  • Melania Trump - personalised Anya Hindmarch handbag

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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The specs

Engine: 4.0-litre V8

Power: 503hp at 6,000rpm

Torque: 685Nm at 2,000rpm

Transmission: 8-speed auto

Price: from Dh850,000

On sale: now

UAE currency: the story behind the money in your pockets
The specs: 2018 Nissan Altima


Price, base / as tested: Dh78,000 / Dh97,650

Engine: 2.5-litre in-line four-cylinder

Power: 182hp @ 6,000rpm

Torque: 244Nm @ 4,000rpm

Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

Updated: August 04, 2022, 12:07 PM