Ali Saif Al Suwaidi holds a photo of his missing brother, Mohammed. Reem Mohammed / The National
Ali Saif Al Suwaidi holds a photo of his missing brother, Mohammed. Reem Mohammed / The National

Coast guard steps up search for missing Emirati fishing boat captain



AJMAN // The family of an Emirati fishing boat captain missing at sea for six days have not slept or eaten since being told he had been knocked overboard.

Mohammed Saif Al Suwaidi fell into the sea after a large ship collided with his fishing boat, causing it to break in half on Saturday morning.

Six Indian crewmen on his boat were rescued by an Emirati fishing vessel that was near by when the incident occurred about 80 nautical miles off the UAE coast.

Mr Al Suwaidi, 32, who cannot swim, was working as a "noukhada" (Arabic for lead fisherman or captain) because he had no job, said his brother, Ali Saif Al Suwaidi, 35.

“All of us can’t sleep or eat. We make food for lunch and sit at the dining table looking at it. Our bodies sleep but our minds still work and think throughout the day and night,” he said.

Ali, who has worked as a fishing boat captain for five years and taught Mohammed everything he knows, said he was at sea when he received the call from the coastguard about the accident. He immediately returned to shore, but was so worried that he could not bring himself to tell his family.

“My brother went to sea on Wednesday evening and I went on Thursday. We usually stay there for five days. When the accident happened on Saturday I went home. My family asked me why I was back, so I told them my boat had been disrupted,” Ali said. “The next day I told my sisters and they thought I was joking with them.

“On the third day I told my mother because I didn’t want her to know from television or newspapers. Then my wife’s brother heard. They started crying and shouting and didn’t believe it.

“All of them have lost their minds and I couldn’t tell my father, who is 100 years old, because he is too old and sick. Until today he doesn’t know, but my mother feels that my brother is still alive.”

The six crewmen were taken to Sheikh Khalifa Hospital in Ajman. Five were only slightly injured and left the same day after receiving treatment, while the other sailor underwent surgery for a broken foot. He was due to be discharged in a day or two, the hospital said.

Ali said that although he was braced for bad news, a part of him remained hopeful that his brother, who has been married for three years and whose wife is in the second month of pregnancy, would return home.

For now Ali is resigned to waiting for more information from the UAE coastguard, which is working with neighbouring countries in the search.

He said that if he had his own boat he would join the search for his brother.

“Even if they just found his body, we at least can psychologically rest because it is better than not knowing if he is alive or dead,” he said.

roueiti@thenational.ae

What is dialysis?

Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.

It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.

There are two kinds of dialysis — haemodialysis and peritoneal.

In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.

In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.

It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.

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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Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
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Sector: Water technology 
 
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