Abu Dhabi and Dubai celebrated Eid Al Fitr in spectacular style on Friday as fireworks displays lit up the sky above Yas Island, Global Village, as well as other parts of the UAE.
In the capital, fireworks lit up the Corniche and Yas Bay at 9pm, while those celebrating Eid in the Al Dhafra region were treated to a display over the Khor Al Bazim lagoon.
At Global Village in Dubai, visitors enjoyed dazzling displays. Fireworks will be repeated every night at 9pm, until April 30 when the park closes for summer.
This year, celebrations are back to their pre-pandemic normal, as all restrictions in the Emirates have been removed, and elaborate fireworks displays are an important part of the celebrations.
The day started with UAE leaders performing Eid prayers to mark the end of Ramadan.
Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Minister of the Presidential Court, performed Eid Al Fitr prayers on Friday at Abu Dhabi's Sheikh Zayed Grand Mosque.
He was accompanied by Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, and Sheikh Hazza bin Zayed and Sheikh Tahnoun bin Zayed, the Deputy Rulers of Abu Dhabi.
After Eid prayers, the leaders exchanged greetings with worshippers before going to visit the tomb of the UAE's Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan.
Meanwhile, Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, and Sheikh Maktoum bin Mohammed, Deputy Prime Minister, Minister of Finance and Deputy Ruler of Dubai, performed Eid prayers at the Sheikh Rashid bin Saeed Mosque in Zabeel.
The rulers of other emirates also offered their prayers.
The leaders also received Eid well-wishers. In the capital, Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Minister of the Presidential Court, and Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, received Eid well-wishers at Mushrif Palace.
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai and Deputy Prime Minister, Sheikh Sultan bin Mohammed Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Sheikh Mohammed bin Hamad Al Sharqi, Crown Prince of Fujairah, Sheikh Rashid bin Saud Al Mualla, Crown Prince of Umm Al Quwain, Sheikh Mohammed bin Saud Al Qasimi, Crown Prince of Ras Al Khaimah, other sheikhs and senior officials travelled to Abu Dhabi for the festive occasion.
They also conveyed their greetings to President Sheikh Mohamed and wished for his continued health and well-being. They also congratulated the rulers of the Emirates.
In Dubai, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, received festive greetings from guests on the first day of Eid Al Fitr.
Sheikh Mohammed was accompanied by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, and Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai and Deputy Prime Minister.
They received well-wishers, including sheikhs, ministers, local dignitaries, and senior officials, at the Zabeel Palace Majlis, Dubai Media Office said on Twitter.
Eid Al Fitr, also known as the “festival of ending the fast”, is one of the most important festivals in the Islamic calendar.
It is celebrated by Muslims all over the world and marks the end of the month-long fast of Ramadan.
Over the past three years, the UAE has observed strict measures to curb the spread of Covid-19 during Eid Al Fitr.
This is the first year worshippers have been able to come together and celebrate the festival without precautionary measures such as social distancing or face masks.
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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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Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
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A – Dubai College, Deira International School, Al Ain Amblers, Warriors
B – Dubai English Speaking College, Repton Royals, Jumeirah College, Gems World Academy
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D – Dubai Exiles, Jumeirah English Speaking School, English College, Bahrain Colts
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2018 – Dubai College
2017 – British School Al Khubairat
2016 – Dubai English Speaking School
2015 – Al Ain Amblers
2014 – Dubai College
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Why does a queen bee feast only on royal jelly?
Some facts about bees:
The queen bee eats only royal jelly, an extraordinary food created by worker bees so she lives much longer
The life cycle of a worker bee is from 40-60 days
A queen bee lives for 3-5 years
This allows her to lay millions of eggs and allows the continuity of the bee colony
About 20,000 honey bees and one queen populate each hive
Honey is packed with vital vitamins, minerals, enzymes, water and anti-oxidants.
Apart from honey, five other products are royal jelly, the special food bees feed their queen
Pollen is their protein source, a super food that is nutritious, rich in amino acids
Beewax is used to construct the combs. Due to its anti-fungal, anti-bacterial elements, it is used in skin treatments
Propolis, a resin-like material produced by bees is used to make hives. It has natural antibiotic qualities so works to sterilize hive, protects from disease, keeps their home free from germs. Also used to treat sores, infection, warts
Bee venom is used by bees to protect themselves. Has anti-inflammatory properties, sometimes used to relieve conditions such as rheumatoid arthritis, nerve and muscle pain
Honey, royal jelly, pollen have health enhancing qualities
The other three products are used for therapeutic purposes
Is beekeeping dangerous?
As long as you deal with bees gently, you will be safe, says Mohammed Al Najeh, who has worked with bees since he was a boy.
“The biggest mistake people make is they panic when they see a bee. They are small but smart creatures. If you move your hand quickly to hit the bees, this is an aggressive action and bees will defend themselves. They can sense the adrenalin in our body. But if we are calm, they are move away.”
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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.
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