Two visitors admire knives at a booth during the Adihex in the capital. Lee Hoagland / The National
Two visitors admire knives at a booth during the Adihex in the capital. Lee Hoagland / The National

Adihex sees fewer visitors but still 'a success'



Adihex had 55 new exhibitors and more space than last year Erin Conroy Abu Dhabi // Attendance fell this year at the Abu Dhabi International Hunting and Equestrian Exhibition (Adihex) after organisers increased the amount of space for the event by a quarter in anticipation of a larger crowd. The four-day event featured 589 exhibitors of guns, hunting equipment and falcons, as well as a camel auction and a Saluki beauty contest with 170 entries.

The exhibition, held at the Abu Dhabi National Exhibition Centre, also had a daily Arabic coffee brewing competition. Sheikh Khalifa bin Zayed, the President of the UAE, contributed 100 falcons from the Pro-Falcon Farm in Al Ain to the exhibition, while the first World Arabian Horse Racing Conference was held alongside the event and included a panel on the breeding of the horse. About 106,150 people visited the show, according to the Abu Dhabi Authority for Culture and Heritage (Adach), which supported the event. That was down from 115,700 people last year, but still above the 95,100 in 2008. Adihex had 55 new exhibitors and 25 per cent more space, compared with last year.

Last year, the appearance of the British Household Cavalry's Musical Ride, with its display of military riding, boosted attendance above 100,000 for the first time. The popularity of that event may be why more people came last year, said Abdullah al Qubaisi, the director of communication for Adach. "We had less people there, but the exhibitors were very happy and very much want to be a part of the event next year, so we consider it a success," he said.

Adach did not yet have sales figures for exhibitors, but some vendors said the event proved fruitful. Sales for the UAE-based handgun manufacturer Caracal were much stronger this year, according to Khamis Ateeq al Muwaijei, an assistant manager for the company. Robert Bagley, the president of the US company Marshall Radio Telemetry, also noticed a rise in sales of falcon-tracking transmitters. He has been selling the technology at the show since it began in 2003.

Even some of the most expensive merchandise drew interest. Two massive gold-plated safari vehicles, priced at Dh2.5 million each, were expected to be sold by the end of this week, said Sameer Sami, who works for the owner of the dune buggies. "There were many more serious offers than we had expected," he said. econroy@thenational.ae

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

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
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.
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

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.”

The biog

Place of birth: Kalba

Family: Mother of eight children and has 10 grandchildren

Favourite traditional dish: Al Harees, a slow cooked porridge-like dish made from boiled cracked or coarsely ground wheat mixed with meat or chicken

Favourite book: My early life by Sheikh Dr Sultan bin Muhammad Al Qasimi, the Ruler of Sharjah

Favourite quote: By Sheikh Zayed, the UAE's Founding Father, “Those who have no past will have no present or future.”

German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

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