Ivette Carnet Garcia demonstrates her skill in rolling leaves into cigars.
Ivette Carnet Garcia demonstrates her skill in rolling leaves into cigars.
Ivette Carnet Garcia demonstrates her skill in rolling leaves into cigars.
Ivette Carnet Garcia demonstrates her skill in rolling leaves into cigars.

Cuban expert gives smokers whiff of art of cigar rolling


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ABU DHABI // Ivette Carnet Garcia expertly rolls the brown leaves around the fragrant tobacco filler. It is an art that takes decades to perfect. A professional Cuban cigar roller, Ms Garcia ended a 20-day UAE tour yesterday with a demonstration at the Crowne Plaza on Yas Island. She has been working as a roller for the Habanos factory in Cuba, rolling Romeo and Juliet brand cigars, for more than 20 years. Habanos supplies 99 per cent of the UAE market, where, Ms Garcia said, her demonstrations had been enthusiastically received.

"I have been impressed by the passion of the local people towards the cigar," she said. "They love it." She begins the rolling process by spreading out the capote leaf, a flexible and more resistant leaf from the middle of the tobacco plant. For the filling, the ligero leaf, which gives the cigar a strong flavour, is mixed with seco, a lighter leaf that creates the aroma, and volado, which gives the cigar its combustibility.

Each cigar leaf goes through two fermentation processes to get rid of impurities. In Cuba, cigar rollers must go through a nine-month apprenticeship before working. It can take 20 years to qualify as a "master roller". Jasim Ahmed, the territory manager of Baqer Moheb Est, which distributes Cuban cigars in the UAE, Oman and Iran, and which organised Ms Garcia's tour, said: "Wherever she goes, she demonstrates cigar rolling in an effort to spread the Cuban tradition in this part of the world."

Ms Garcia defends her art by saying she only demonstrates it in places where "people come to smoke in the first place". "I'm not promoting smoking," she said. Mr Ahmed said the tour had been well received because "people have had the chance to experience freshly hand-made cigars, especially those who can't go to Cuba". @Email:hhassan@thenational.ae

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.”

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

UAE players with central contracts

Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.

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