The new station will be online only first. Getty Images
The new station will be online only first. Getty Images

Capital Radio: new UAE radio station tunes in



One of Abu Dhabi’s pioneering radio brands is set to return, chasing an audience of one million listeners.

Capital Radio was on the air throughout the emirate for 20 years from 1979 and is fondly remembered by many of its listeners.

Now, Capital Radio is set to launch across the country from 4pm on September 2.

The station will focus on classic tracks from the 1960s, '70s and '80s as well as featuring competitions, news and interviews.

"We all enjoy a bit of nostalgia," said Roger Paine, the man behind the new venture. "This type of music will be the main base of our music policy and I'm excited to be heading up and presenting 'drive time' on this new station."

Capital Radio will initially begin broadcasting online only. But FM frequencies and Digital Audio Broadcasts are expected to follow within a few months.

When plans to broadcast on DAB are finalised, it will be the first radio station available on digital in the UAE. DAB has been tested in the emirate but is not yet commercially available.

On Monday, Mr Paine, a former station manager and presenter during the original station's heyday, revealed the new station, which has no direct commercial link with the original, aimed to target listeners over the age of 35.

He said he believed there remained a huge demand for classic music to serve this demographic in the UAE, which he estimated at about one million people.

Station bosses said regulators have now approved the station and financial backers are secured.

Capital Radio will be based at studios in the TwoFour54 building in Abu Dhabi and every Sunday, contributor to The National Keren Bobker will do a 30-minute slot on everything you need to know about living and working in the UAE.

Other shows will include “sounds of the '50s”, and a dedicated what’s on in the UAE guide.

The station will broadcast 24 hours a day with automated back-to-back music running from 8pm to 6am.

Mr Paine, now the programme director for the new Capital Radio, also presented shows on the UAE’s Radio 2 between 2002 and 2010.

“I’m nervous but also I’m excited,” said Mr Paine, who is known on air as "Young Roge", regarding the new station’s launch.

The latest survey of radio stations in the UAE found that close to eight million people a week tuned in across the country during April, May and June this year.

Of this figure, 79 per cent listened through an AM/FM device, while 36 per cent listened on their mobiles.

The survey also found that 64 per cent of listeners tuned in from 8pm onwards. FM radio remains indispensable for many people in the UAE. There are scores of stations catering for expatriates from India to the Philippines. The Arabia Radio Network, for example, has nine FM stations with more than 4.5 million weekly listeners. Last year, Abu Dhabi Media relaunched classic stations Radio 1 and 2 from the capital.

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Read more: 

Dismayed Abu Dhabi listeners launch battle to keep BBC World Service on the airwaves

How the voices of Radio 1 and 2 find ways to relate to the UAE audience

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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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