A cloud kitchen in Dubai that operates a zero plastic policy on packaging says the city’s move to start charging shoppers for single-use plastic bags is a great step towards helping to repair the planet.
On July 1, Dubai will introduce a charge of 25 fils for single-use plastic bags. The emirate's Executive Council said the charge would be applied in retail, clothing, restaurants and pharmacies, as well as on delivery and e-commerce orders.
The team behind Art of Dum, an eco-friendly cloud kitchen brand in Dubai, has been using reusable steel cutlery, clay pots and glass jars — which customers get to keep — for packaging since it launched in 2020.
We created packaging with a reusable concept in mind, so things like durable cutlery and glass jars
Sanjay Vazirani,
Foodlink
Sanjay Vazirani, managing director of Foodlink, which runs Art of Dum, said he hoped more businesses would start adjusting their operations to be more environmentally friendly to help the UAE and the world achieve its sustainable development goals.
“Art of Dum was conceptualised with the thought of sustainability and eco-friendliness in mind,” he said.
“For a long time we were toying with the idea of doing something which would show our responsibility towards good health and be good for the planet too.
“We created packaging with a reusable concept in mind, so things like durable cutlery and glass jars.”
Although packaging costs have increased “three to four-fold” since the decision to use alternatives to plastics, Mr Vazirani said establishing a brand that “does right by the planet” has helped them gain a good customer base.
The cloud kitchen, based in Al Barsha, Discovery Gardens and Karama, is a food delivery only service and uses 10 different eco-friendly packaging options for food, including a betel leaf plate, which is made with leaves from the betel-nut tree.
With a number of other food brands under the Foodlink umbrella, Mr Vazirani said the long-term goal was to operate all of its kitchens on a zero plastic policy.
Almost 300 million tonnes of plastic pollution are produced around the world each year, the same weight as all the humans on the planet, according to figures released by the UN Environment Programme.
Only nine per cent of all plastic ever produced has been recycled, with the rest ending up in landfills, dumps or the natural environment.
The UN says that if current trends continue, the ocean could contain more weight of plastic than of fish by the year 2050.
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Abaya trends
The utilitarian robe held dear by Arab women is undergoing a change that reveals it as an elegant and graceful garment available in a range of colours and fabrics, while retaining its traditional appeal.
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Getting there
Flydubai flies direct from Dubai to Tbilisi from Dh1,025 return including taxes
Match info
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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.”
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