ABU DHABI
Dec. 1
• Fireworks by Abu Dhabi Tourism and Culture Authority; Plaza Area, Abu Dhabi Corniche Family Park; 7pm to 10pm
• Mansour show; Al Maryah Island Promenade; 7:30pm (English show)
• Traditional celebrations by First Gulf Properties and Cleveland Clinic Abu Dhaib; Al Maryah Island Promenade and Sowwah Square’s podium Level; all day
Dec. 2
• Al Forsan Air Show; Abu Dhabi Corniche; 3pm to 5pm
• Fireworks by Abu Dhabi Tourism and Culture Authority; Khor Al Maqtaa at 8.30pm; Abu Dhabi Corniche at 9pm; Sheikh Zayed Heritage Festival in the evening
• Traditional celebrations by First Gulf Properties and Cleveland Clinic Abu Dhaib; Al Maryah Island Promenade and Sowwah Square’s podium Level; all day
AJMAN
Dec. 1
• Heritage Village events; Cultural Centre; 10am to 10pm
Dec. 2
• School buses parade; Ajman corniche; morning time
• Heritage Village events; Cultural Centre; 10am to 10pm
DUBAI
Nov. 30 to Dec. 5
• Mirdif City Centre National Day celebrations; 10 am to 10pm
Dec. 1
• Folkloric shows from around the Gulf, cartoon character shows by embassies, and Ministry of Culture, Youth and Community Development; Burj Khalifa Garden; 5pm to 9pm.
• Main event in Dubai’s National Day celebrations by Dubai National Day Celebrations Committee; Umm Suqeim, facing Burj Al Arab; 5pm to 8pm
• Fireworks; Khor Dubai, facing Dubai Chamber of Commerce and Industry; 8pm to 8.30pm
• Emirati stars in concert by Ministry of Culture and Youth; Burj Khalifa Garden theatre, Dubai; 8pm onwards; free entry
Dec. 2
• Main event in Dubai’s National Day celebrations by Dubai National Day Celebrations Committee; Umm Suqeim, facing Burj Al Arab; 5pm to 8pm
• Emirati stars in concert by Ministry of Culture and Youth; Burj Khalifa Garden theatre, Dubai; 8pm onwards; free entry
• Fireworks; Khor Dubai, facing Dubai Chamber of Commerce and Industry; 8pm to 8.30pm
FUJAIRAH
Dec. 1
• 9th Family Festival by Fujairah Municipality; city centre; 10am onwards
• Heritage Vilage celebrations; near Fujairah Fort; 10am onwards
• National Day events and celebrations; Cultural Centre; 4pm to 8pm
Dec. 2
• Heritage Village celebrations; near Fujairah Fort; 10am onwards
• National Day events and celebrations; Cultural Centre; 4pm to 8pm
• UAE map in the colours of the UAE flag by Fujairah Social and Cultural Association; Fujairah corniche; 4.30pm
RAS AL KHAIMAH
Dec. 1
• Sea parade organised by the e-Government Committee
• My Country’s Landscapes exhibition; RAK Mall; 9am to 2pm
• National Day events and celebrations; Cultural Centre; 4pm to 9pm
• National Day events and celebrations; Al Hamra Mall; 4pm to 10pm
Dec. 2
• National Day events and celebrations; Cultural Centre; 4pm to 9pm
• National Day events and celebrations; Al Hamra Mall; 4pm to 10pm
SHARJAH
Dec. 1
• National Day drawing workshop; Al Hamriya Arts Centre; 10am to 12pm.
• National Day celebrations, shows and competitions; Mega Mall; 10am to 10pm
• A Coutry’s Journey operetta; Sharjah’s Marine Museum organised by the Museums Department; 8pm
Dec. 2
• Spirit of the Union exhibition; Mega Mall; 10am to 10pm
• Sea Parade, Marina of Sharjah’s Marine Museum; 2pm
• Inauguration of the Flag Court in Khorfakkan, evening time
• Musical with a number of local actors and singers; Jazirat Al Alam theatre; 8pm
UMM AL QUWAIN
Dec. 1
• Car parade in UAQ; 4pm to 8pm
• National Day events and celebrations; Cultural Centre; 5pm to 9pm
Dec. 2
• National Day events and celebrations; Cultural Centre; 5pm to 9pm
AL AIN
Dec. 1 and 2
• UAE Classical Cars festival by Ministry of Culture, Youth and Community Development; Al Bawadi Mall; 4pm to 9pm
• National Day celebrations at Al Bawadi Mall; 5pm to 9pm
• Concert and celebrations and fireworks at Hazzaa Bin Zayed Stadium by Al Ain Municipality; ADTCA and Al Ain Sports Club; 8pm to midnight
• Folkloric shows and celebrations at Al Hili and Al Mayzara Park by Al Ain Municipality
WESTERN REGION
Dec. 1
• National Day celebrations and exhibition by Community Police, and Ministry of Culture Youth and Community Development; Cultural Centre; 10 am to 10pm
• National Day concert by Community Police, and Ministry of Culture Youth and Community Development; Cultural Centre; 7pm onwards
Dec. 2
• National Day celebrations and exhibition by Community Police, and Ministry of Culture Youth and Community Development; Cultural Centre; 10 am to 10pm
• National Day concert by Community Police, and Ministry of Culture Youth and Community Development; Cultural Centre; 7pm onwards
• Fireworks at Madinat Zayed Park and Al Silaa Public Garden; 8:30pm
DELMA ISLAND
Dec. 2
• Flag parade; main road facing the municipality; 9am to 11am
• Fireworks by ADTCA; public garden; 8.30pm
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Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5
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
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.”
