There has been a cool start to the month in the UAE. Chris Whiteoak / The National
There has been a cool start to the month in the UAE. Chris Whiteoak / The National
There has been a cool start to the month in the UAE. Chris Whiteoak / The National
There has been a cool start to the month in the UAE. Chris Whiteoak / The National

UAE weather: Temperatures to rise after cool snap


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The slightly colder start to April is expected to change over the next few days, the UAE's weather bureau has said.

Forecasters on Thursday said a gradual shift in wind patterns sweeping over the UAE will start to bring warmer weather.

The National Centre of Meteorology (NCM) said north-westerly winds coming from the northern Gulf have been keeping temperatures down but these will shift to south-westerly and south-easterly winds from Oman and the Gulf of Oman that would send the mercury higher.

"This year we had lower temperatures than are typical for this time," said a forecaster from the NCM.

"The air mass from the northern Gulf area still keeps it [relatively cool], especially at night and early morning as it is a little cooler in the north compared with the south right now."

The NCM has regularly been recording lows of around 10°C in the UAE since the start of April.

For example, on Thursday, a nationwide low of 9.2°C was noted at Mezaira in Abu Dhabi's Al Dhafra Region. The previous day, the NCM recorded a low of 9°C in Raknah, Al Ain.

Temperatures have frequently dipped below freezing at Raknah during the depths of winter.

Highs of 35°C were expected in the UAE on Thursday with lows of 12°C in the mountains.

"But this start to April in the UAE has happened before and this year does not mark an extreme change," the forecaster said. "In the years before, we had similar weather and it depends on pressure systems in our areas.

"Weather systems at this time of year can bring cooler weather. But the temperature is gradually increasing here as summer approaches."

The NCM said this shift would develop gradually from Thursday.

Forecasters also cautioned there was a chance of rain over the next few days, especially in the east of the country. There is also a chance of fog overnight and into Friday morning that could cut visibility on the country's roads.

Looking ahead, the NCM said Saturday could bring cloudy weather and the possibility of rain again. Winds of up to 40kph could kick up dust clouds. The NCM said similar conditions were expected on Sunday.

Freezing weather in Al Ain - in pictures

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UAE currency: the story behind the money in your pockets
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TOURNAMENT INFO

Women’s World Twenty20 Qualifier

Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November

UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi

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.”

Updated: April 06, 2023, 10:17 AM