Bison is much like beef, but lower in calories, cholesterol and fat.
Bison is much like beef, but lower in calories, cholesterol and fat.

Canadian supplier to import high-end halal bison and elk



DUBAI // A meat supplier from Canada hopes to introduce halal bison and Islam-friendly elk into high-end restaurants and hotels by next month. Prairie Halal Foods, a private joint venture between several Canadian food producers and processors, also intends to supply UAE establishments with Angus beef, chicken and honey. About 80 per cent of the UAE's imported food is halal, with most of its meat coming from Brazil and Australia. The meat will come from Alberta, a Canadian province known for its open ranges, high-quality beef and petroleum industry. Bison and elk are rare meats that have a game-like flavour. Bison is much like beef, but is lower in calories, cholesterol and fat. The large herd animal used to roam wild throughout North American prairies, but is now largely farmed. The company is looking for restaurants willing to serve the meats by December. "We worked with slaughterhouses and introduced a Muslim fellow to develop a halal protocol," said Wahid Kandil, the general manager of Prairie Halal Foods. He said the company is working with the Islamic Society of North America to ensure its products meet all religious requirements. According to religious tradition, the animal must be killed by slitting the throat while a recitation from the Quran is repeated. Blood, pork and alcohol are forbidden, or haram, to Muslims. Compared to the halal beef already available in the country, "definitely, our beef is better", he said. Although Mr Kandil would like to sell the meat to consumers directly, the cost involved would probably be too high. "It's more suitable for the high end," he said. The company is hoping to tap into a global halal market that is estimated at US$580 billion (Dh2.1 trillion) and expected to rise to US$1 trillion by 2010, according to the Financial Times. Alberta's deputy premier, Ron Stevens, was in Dubai yesterday to launch Prairie Halal Food's first Middle Eastern office in Dubai. He predicted business ties between the UAE and the Canadian province would continue to deepen, as Alberta's oil and gas reserves are predicted to be second only to Saudi Arabia's. Over the past year, the Abu Dhabi National Energy Company has spent more than US$5bn buying up stakes in Alberta's oil sands projects. jgerson@thenational.ae

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Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

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Document everything immediately; including dates, times, locations and witnesses

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You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

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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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The five pillars of Islam