Jaywalkers in Dubai face stricter penalties in a bid to reduce the high number of them being run over and killed.
The Dubai Police Traffic department is considering implementing heavier fines for pedestrians who repeatedly cross roads in undesignated areas, according to the head of the department, Maj Gen Mohammed Said Al Zaffien.
“Here we have a wide range of nationalities and a varied mentality and education when it comes to roads and traffic rules, and on top of that we have some reckless drivers. So we must regulate to cover all safety aspects,” Maj Gen Al Zaffien said.
Jaywalkers are currently fined Dh200 for the offence with 1,900 fined in the first month of this year.
Pedestrians being run over are the leading cause of road deaths in the emirate, he said. There were 41 pedestrian deaths last year, and 40 in 2010.
A new study by Maj Gen Al Zaffien’s department calls for the tightening of penalties against pedestrian offenders according to the number of offences committed.
It also calls for coordinated efforts with the Roads and Transport Authority to maximise safety signs warning against crossing in undesignated areas, and to step up more patrols in hot spots.
“A common accident pedestrians are involved in is when the vehicle in the first lane stops for them to cross and the vehicle in the other lane doesn’t intend to stop, creating a pedestrian trap. We have seen many incidents like this,” he said.
The new study forms part of his department’s aim to have “zero road fatalities per 100,000” by 2020.
Because 80 per cent of the pedestrian casualties recorded in Dubai involved people from Asian origins, Maj Gen Al Zaffien said Dubai Police would carry out traffic awareness campaigns for blue-collar workers.
In April this year, his department distributed 10,000 reflective vests to workers across the emirate as part of the “Cross Safely” campaign. Officials also staged lectures at labour camps and distributed pamphlets on safe crossing.
At the time, Maj Gen Al Zaffien said labour camps near busy roads, such as Emirates Road and the Dubai Bypass Road, were major areas of concern.
The main causes, he said, were neglect, inattention, speed, not giving way to pedestrians, disrespect of road users, driving in reverse without paying attention, and driving through red lights.
newsdesk@thenational.ae
With reporting by Mohammed N Al Khan
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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.”
