Crocodile and python skins are the most common illegal animal products to be sold in the UAE, officials say.
Crocodile and python skins are the most common illegal animal products to be sold in the UAE, officials say.

Dh20,000 in illegal skins found in shops



DUBAI // Authorities seized nearly Dh20,000 (US$5,400) in python and crocodile skins from souvenir and pet shops in Bur Dubai and Deira in several raids, officials said yesterday. The municipality said the skins came from Nile crocodiles and four pythons - one of which was an amazing nine metres long.The record for a python is just over 10 metres. Both creatures are protected under provisions in the Convention on International Trade in Endangered Species (Cites), which regulates international trade in threatened animals. "The rules are very clear, and the municipality ensures that all shops are updated on the regulations for trade in such goods," said Hashim al Awadhi, head of the municipality's veterinary services section. "However, many shops sell without permission to make more money."

The department plans to continue the surprise inspections and launch educational programmes to curb the trade, Mr al Awadhi added. Abdulrab Alhemeri, assistant manager for Cites in Abu Dhabi, said that trade in endangered animals had been a more serious problem before the UAE introduced laws regulating international trade of flora and fauna in 2002. "Even at the beginning, it was still a problem because people were unaware of the law and were doing it unintentionally," Mr Alhemeri said. The situation has slowly improved; last year there were 21 items confiscated, down from 170 in 2007. "The issue at the moment is still awareness," Mr Alhemeri said.

Depending on the species involved, fines can reach Dh50,000 and prison terms can be as long as six months. But because at least half of the people caught with contraband are unaware of the law, authorities tend to confiscate their goods rather than imprison the offenders. Only one person was taken to court in 2007 and two were prosecuted last year. "Sometimes they really do not know what they are holding, so the items are just confiscated, but there are times when they really hide it in order to cross the borders," he said. Cites has been working with schools to educate children on how to spot endangered species and what to do if they find any for sale. According to Mr Alhemeri, the most common items found and confiscated are python skins, alligator skins, ivory, live falcons, and certain species of parrots. It is, however, possible to have licences for certain species. Most of the animals and animal products come from Africa, where border controls are more lax and the regulations regarding trade and ownership are not as stable, Mr Alhemeri said. pmenon@thenational.ae nsamaha@thenational.ae

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
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RESULT

Leeds United 1 Manchester City 1
Leeds:
 Rodrigo (59')
Man City: Sterling (17')

Man of the Match: Rodrigo Moreno (Leeds)

What is the FNC?

The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning. 
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval. 
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
 

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 White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

VEZEETA PROFILE

Date started: 2012

Founder: Amir Barsoum

Based: Dubai, UAE

Sector: HealthTech / MedTech

Size: 300 employees

Funding: $22.6 million (as of September 2018)

Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5