A 47-nation summit organised by the United States achieved a series of incremental measures to prevent nuclear material from falling into terrorists' hands. Ukraine, for example, was among a handful of countries that agreed to surrender its high-grade uranium to the United States, the only nation ever to drop a nuclear bomb. Iran was not invited but has organised a meeting of 15 nations which do not yet have the bomb.
Lech Kaczynski, the president of Poland, died along with 96 others when their plane crashed in foggy weather in Russia. Kasczynski's wife, Maria, was also among the dead. The couple left behind one child, Marta, a lawyer. She met her father's casket at the airport on Sunday, and her mother's on Tuesday; both times she knelt by the casket and cried. Kaczynski is the first head of state to die in a plane crash since the Macedonian president Boris Trajkovski, whose plane hit a mountain while flying through bad weather on February 26, 2004.
The Ultimate Fighting Championship needs controversy like it needs a kick in the teeth, and Anderson "The Spider" Silva obliged on one count in defending his middleweight crown at UFC 112: Invincible on Yas Island. Silva, a lithe and slippery Brazilian, vexed 11,000 bloodthirsty fans by neglecting to pummel his overmatched opponent, instead merely toying with him for the better part of five rounds. The crowd booed in disgust. Away from the action, Josh Gross of si.com described Ferrari World as "a city-sized structure straight out of a James Bond film."
A Dubai court sentenced an Iranian and a Tajik, both in their late 30s, to life in prison for taking part in the plot to kill Sulim Yamadayev, a former Chechen warlord, outside Jumeirah Beach Residence. Court documents show that as part of the preparation for the murder, the Iranian was handed a document bag and told to hang onto it. Of course, he peeked inside the bag. And saw the golden gun that would end Yamadayev's life.
Norway's dashing crown prince, Haakon Magnus, inspired students at Zayed University by urging them to help others. Haakon recounted how, during a visit to Mongolia, schoolchildren told him what they wanted to be when they grew up: "One said policeman, another said lawyer and yet another said doctor, so this tells us that everyone has expectations whether poor or rich. So something that we need to do is see each other as a whole instead of them and us ... Why should we care about people we don't know? Why should it make a difference to us what happens to them? The answer is dignity ... " Haakon raised a stir in his native country when, in 2001, he married a single mother. The couple now oversee a humanitarian foundation with projects at home and abroad.
Gold's Gym, the legendary cradle of California musclemen whose clients have included Arnold Schwarzenegger and Faith Hill, is expanding to the Middle East. The company signed a franchise deal with Al Ahli Holding Group that will start with 26 outlets in the UAE, Oman, Bahrain and Qatar.
You may have heard of "Nimby" ("Not in my Backyard!") syndrome, in which communities agitate for a noisome but necessary service, such as a garbage dump, to be located somewhere else. Well, this past week saw the birth of "Nomad" ("Not on my Al Dhaid!") syndrome, in which Sharjah announced a plan to push rumbling lorries away from Al Dhaid Road by imposing a Dh100 toll.
Phil Mickelson, loyal husband to his cancer-stricken wife, took home US$1.35 million (Dh5 million) for winning the Masters golf tournament. Tiger Woods, finished fourth - out of the medals! - and took home just $330,000. @Body-SubheadNew:And we mean "rolled out"
This newspaper celebrates its second anniversary today.
KFC rolled out its new Double Down sandwich in outlets across America. Between slices of fried or grilled chicken (your choice!), the Double Down crams in two types of cheese and a "zesty" sauce. KFC says the thing has 540 calories. Nutritionists say the Double Down is basically salt, fat and a wrapper. On the other hand, it conveniently offers almost your entire daily requirement of sodium in one sitting. On the day of its debut, the Double Down ranked No 4 on Yahoo's Trending Now list, behind John Gotti Jr and just ahead of Shakira and Auschwitz.
In Monday's issue of the peer-reviewed journal Physics Letters B, an American scientist theorised that our universe might be inside a wormhole inside a black hole inside a much larger universe. According to Indiana University's Nikodem Poplawski, a massive particle that had entered a black hole could have released an enormous amount of energy - a big bang - as it was sucked into a wormhole inside the black hole. As this would re-orient the dawn of our time, it could throw a twist into unsolved puzzles such as where gravity originated, and why the universe is expanding.
According to weather.com, the week's high in the capital, through Thursday, was a mild 34°C. The high for the year so far was 42°C on April 9. The coming week's high should be a warmish 38°C. * The National, with additional reporting by agencies
The specs
Engine: 5.2-litre V10
Power: 640hp at 8,000rpm
Torque: 565Nm at 6,500rpm
Transmission: 7-speed dual-clutch auto
Price: From Dh1 million
On sale: Q3 or Q4 2022
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Tips from the expert
Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.
- Sellers should focus on providing high-quality used goods at attractive prices to buyers.
- It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
- Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
- Be creative and look around your home for valuable items that you no longer need but might be useful to others.
COMPANY PROFILE
Founders: Sebastian Stefan, Sebastian Morar and Claudia Pacurar
Based: Dubai, UAE
Founded: 2014
Number of employees: 36
Sector: Logistics
Raised: $2.5 million
Investors: DP World, Prime Venture Partners and family offices in Saudi Arabia and the UAE
Safety 'top priority' for rival hyperloop company
The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.
He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.
“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.
“Only once the system has been certified and approved will it move people,” he said.
HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon.
With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.
COMPANY%20PROFILE%20
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Race%20card
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More from Rashmee Roshan Lall
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
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.”
Monster
Directed by: Anthony Mandler
Starring: Kelvin Harrison Jr., John David Washington
3/5
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5