• Towers in Fujairah city surrounded by floodwaters. Photo: Mahesh Jangam / @MaheshMj80202 / Twitter
    Towers in Fujairah city surrounded by floodwaters. Photo: Mahesh Jangam / @MaheshMj80202 / Twitter
  • Vehicles partially submerged on the streets of the city. Photo: Mahesh Jangam / @MaheshMj80202 / Twitter
    Vehicles partially submerged on the streets of the city. Photo: Mahesh Jangam / @MaheshMj80202 / Twitter
  • A flooded area in Fujairah city. Photo: Fujairah Media Office
    A flooded area in Fujairah city. Photo: Fujairah Media Office
  • A dam in the emirate of Fujairah overflows. Photo: Fujairah Media Office
    A dam in the emirate of Fujairah overflows. Photo: Fujairah Media Office
  • Emergency teams relocate people in Fujairah, after their homes were flooded. Photo: UAE Ministry of Defence
    Emergency teams relocate people in Fujairah, after their homes were flooded. Photo: UAE Ministry of Defence
  • Sheikh Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, inspects the areas affected by heavy rains. Photo: Fujairah Media Office
    Sheikh Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, inspects the areas affected by heavy rains. Photo: Fujairah Media Office
  • During the inspection tour, Sheikh Mohammed stressed that efforts will continue and all resources will be allocated to deal with the situation. Photo: Fujairah Media Office
    During the inspection tour, Sheikh Mohammed stressed that efforts will continue and all resources will be allocated to deal with the situation. Photo: Fujairah Media Office
  • The Joint Operations Command of the Ministry of Defence announced the continuation of Operation Loyal Hands in Fujairah, after heavy rain and flash flooding. Photo: UAE Ministry of Defence
    The Joint Operations Command of the Ministry of Defence announced the continuation of Operation Loyal Hands in Fujairah, after heavy rain and flash flooding. Photo: UAE Ministry of Defence
  • Civilians were evacuated and given medical aid where required. Photo: MOD UAE
    Civilians were evacuated and given medical aid where required. Photo: MOD UAE
  • Search and rescue teams and equipment were sent to Fujairah. Photo: MOD UAE
    Search and rescue teams and equipment were sent to Fujairah. Photo: MOD UAE
  • Civil authorities were working to diminish the effects of the torrential rain. Photo: MOD UAE
    Civil authorities were working to diminish the effects of the torrential rain. Photo: MOD UAE
  • Flooding in Fujairah city, as more rain is expected. Antonie Robertson / The National
    Flooding in Fujairah city, as more rain is expected. Antonie Robertson / The National
  • Flooding in Fujairah city: Damage in the Alfaseel neighbourhood. Antonie Robertson / The National
    Flooding in Fujairah city: Damage in the Alfaseel neighbourhood. Antonie Robertson / The National
  • Flooding in Fujairah city: Damage in the Alfaseel neighbourhood. Antonie Robertson / The National
    Flooding in Fujairah city: Damage in the Alfaseel neighbourhood. Antonie Robertson / The National
  • Damage and flooding near the carpet souk area. Antonie Robertson / The National
    Damage and flooding near the carpet souk area. Antonie Robertson / The National
  • Flooding in Fujairah city. Antonie Robertson / The National
    Flooding in Fujairah city. Antonie Robertson / The National
  • An SUV negotiates a flooded Fujairah city road after heavy rain hit parts of the Northern Emirates. Antonie Robertson / The National
    An SUV negotiates a flooded Fujairah city road after heavy rain hit parts of the Northern Emirates. Antonie Robertson / The National
  • Roads and residential areas in Fujairah were flooded, displacing many from their homes. Antonie Robertson / The National
    Roads and residential areas in Fujairah were flooded, displacing many from their homes. Antonie Robertson / The National
  • Sitting on the fence, residents are all smiles despite pools of standing water forming on roads in Fujairah city. Antonie Robertson / The National
    Sitting on the fence, residents are all smiles despite pools of standing water forming on roads in Fujairah city. Antonie Robertson / The National
  • Civil defence workers help to recover cars in water-logged Fujairah city. Antonie Robertson / The National
    Civil defence workers help to recover cars in water-logged Fujairah city. Antonie Robertson / The National
  • The weather bureau has forecast more rain in the next few days. Antonie Robertson / The National
    The weather bureau has forecast more rain in the next few days. Antonie Robertson / The National
  • Vehicles submerged in water-logged roads in Fujairah. Antonie Robertson / The National
    Vehicles submerged in water-logged roads in Fujairah. Antonie Robertson / The National
  • Car swept away in flash floods lies beside a road in Fujairah. Antonie Robertson / The National
    Car swept away in flash floods lies beside a road in Fujairah. Antonie Robertson / The National
  • Waterlogged low lying areas and subways in Fujairah city. Antonie Robertson / The National
    Waterlogged low lying areas and subways in Fujairah city. Antonie Robertson / The National
  • Flooding in Fujairah city. Antonie Robertson/The National
    Flooding in Fujairah city. Antonie Robertson/The National
  • Flooding in Fujairah city. Antonie Robertson/The National
    Flooding in Fujairah city. Antonie Robertson/The National
  • Flooding in Fujairah city. Antonie Robertson/The National
    Flooding in Fujairah city. Antonie Robertson/The National
  • An overturned car in Fujairah city beside a flooded road. Antonie Robertson / The National
    An overturned car in Fujairah city beside a flooded road. Antonie Robertson / The National
  • More rain is forecast for the UAE's east coast. Antonie Robertson/The National
    More rain is forecast for the UAE's east coast. Antonie Robertson/The National
  • Downpours have led to flooding across Fujairah, Ras Al Khaimah and Sharjah. Antonie Robertson/The National
    Downpours have led to flooding across Fujairah, Ras Al Khaimah and Sharjah. Antonie Robertson/The National
  • Flooding in Fujairah city. Antonie Robertson/The National
    Flooding in Fujairah city. Antonie Robertson/The National
  • Ministry of Defence images show servicemen helping residents in floodwaters in the Northern Emirates. Photo: UAE Ministry of Defence
    Ministry of Defence images show servicemen helping residents in floodwaters in the Northern Emirates. Photo: UAE Ministry of Defence
  • Flooding in Fujairah city with more rains expected. Antonie Robertson/The National
    Flooding in Fujairah city with more rains expected. Antonie Robertson/The National
  • Rescue personnel help residents affected by the flooding in the Northern Emirates. Photo: UAE Ministry Of Defence
    Rescue personnel help residents affected by the flooding in the Northern Emirates. Photo: UAE Ministry Of Defence
  • Servicemen move residents to dry ground. Photo: UAE Ministry of Defence
    Servicemen move residents to dry ground. Photo: UAE Ministry of Defence
  • Ministry of Defence images show servicemen helping residents in floodwaters in the Northern Emirates. Photo: UAE MOD
    Ministry of Defence images show servicemen helping residents in floodwaters in the Northern Emirates. Photo: UAE MOD
  • Cars navigate flooded roads in Fujairah. Issa Alkindy/The National
    Cars navigate flooded roads in Fujairah. Issa Alkindy/The National
  • A car swept away in the floods on the outskirts of Fujairah. Issa Alkindy/The National
    A car swept away in the floods on the outskirts of Fujairah. Issa Alkindy/The National
  • Cars that were washed away by flooding on the outskirts of Fujairah. Issa Alkindy/The National
    Cars that were washed away by flooding on the outskirts of Fujairah. Issa Alkindy/The National
  • The aftermath of flooding in Fujairah. Issa Alkindy/The National
    The aftermath of flooding in Fujairah. Issa Alkindy/The National
  • Water on the roads in Fujairah. Issa Alkindy/The National
    Water on the roads in Fujairah. Issa Alkindy/The National
  • A man takes a photo of the floods in Fujairah. Issa Alkindy/The National
    A man takes a photo of the floods in Fujairah. Issa Alkindy/The National
  • Families stop at the side of a mountain in Khor Fakkan to play in the water. Ruel Pableo for The National
    Families stop at the side of a mountain in Khor Fakkan to play in the water. Ruel Pableo for The National
  • Families stop to play in the water. Ruel Pableo for The National
    Families stop to play in the water. Ruel Pableo for The National
  • Children play in the water flowing down the side of the road. Ruel Pableo for The National
    Children play in the water flowing down the side of the road. Ruel Pableo for The National
  • There was some rockfall in areas along the road. Ruel Pableo for The National
    There was some rockfall in areas along the road. Ruel Pableo for The National
  • Families stop at the side of the mountain to play in the water. Ruel Pableo for The National
    Families stop at the side of the mountain to play in the water. Ruel Pableo for The National
  • A man clears rocks from the road. Ruel Pableo for The National
    A man clears rocks from the road. Ruel Pableo for The National
  • Families stop to play in the water. Ruel Pableo for The National
    Families stop to play in the water. Ruel Pableo for The National
  • Cars navigate a flooded road in Khor Fakkan, amid heavy rains in the city. Ruel Pableo for The National
    Cars navigate a flooded road in Khor Fakkan, amid heavy rains in the city. Ruel Pableo for The National
  • Waterlogged roads in the city after torrential rain fell overnight. Ruel Pableo for The National
    Waterlogged roads in the city after torrential rain fell overnight. Ruel Pableo for The National
  • Khor Fakkan has experienced two days of intense rainfall. Ruel Pableo for The National
    Khor Fakkan has experienced two days of intense rainfall. Ruel Pableo for The National
  • Authorities are urging people to take care in hazardous conditions. Ruel Pableo for The National
    Authorities are urging people to take care in hazardous conditions. Ruel Pableo for The National
  • More wet weather is expected this week, particularly in the Northern Emirates. Ruel Pableo for The National
    More wet weather is expected this week, particularly in the Northern Emirates. Ruel Pableo for The National
  • A cyclist struggles to make progress on a flooded road. Ruel Pableo for The National
    A cyclist struggles to make progress on a flooded road. Ruel Pableo for The National
  • Rain was expected in the UAE on July 27. Ruel Pableo for The National
    Rain was expected in the UAE on July 27. Ruel Pableo for The National
  • Bouts of heavy rain made for slippery road conditions for motorists in Sharjah. Ruel Pableo for The National
    Bouts of heavy rain made for slippery road conditions for motorists in Sharjah. Ruel Pableo for The National
  • Khor Fakkan has borne the brunt of much of the stormy weather. Ruel Pableo for The National
    Khor Fakkan has borne the brunt of much of the stormy weather. Ruel Pableo for The National
  • A waterlogged road in the mountains. Ruel Pableo for The National
    A waterlogged road in the mountains. Ruel Pableo for The National
  • People seek shelter during a downpour. Ruel Pableo for The National
    People seek shelter during a downpour. Ruel Pableo for The National
  • The mountainous area has been lashed by rain. Ruel Pableo for The National
    The mountainous area has been lashed by rain. Ruel Pableo for The National
  • A flooded road in Khor Fakkan. Ruel Pableo for The National
    A flooded road in Khor Fakkan. Ruel Pableo for The National

More than 800 rescued and 3,800 in temporary shelter after UAE flash floods


Kelly Clarke
  • English
  • Arabic

At least 870 people were rescued by emergency teams after flash floods in the UAE's Northern Emirates, the government said.

In total, 3,897 people were placed in temporary shelter in Sharjah and Fujairah and will remain there until their homes are deemed safe for them to return.

The National Emergency, Crisis and Disasters Management Authority (Ncema) said 20 hotels in those areas have the capacity to house an additional 1,885 people, if needed.

Weather officials said the deluge on Wednesday contributed to this month being the wettest July in more than 30 years.

It is expected that the depression will continue to exist in the west of the country and will gradually weaken during the evening and night [on Thursday]
National Centre of Meteorology

More than 50 buses have been mobilised over the past 24 hours to carry people to safety and more than 100 volunteers have been working to help residents and clean up debris and pools of water left by the heavy rainfall.

Officials assured the public that emergency and clean-up teams are working around the clock to help those in the most flood-affected areas.

No deaths or casualties were reported.

Sheikh Hamdan bin Zayed, the Ruler’s Representative in Al Dhafra Region and chairman of the Emirates Red Crescent, instructed the ERC and its centres across the country to provide all forms of logistical and field support to Emirati teams supporting those affected by the rain, in addition to putting the authority’s workers and volunteers on standby.

He also directed the authority’s teams to be placed under the command of the competent authorities, assess the situation on ground and develop plans for evacuation, shelter and psychological support, as well as provide the humanitarian needs of the affected people whenever necessary.

ERC field teams have been present since Wednesday in the affected areas in the Northern Emirates to provide the necessary support and assistance.

The ERC's emergency room is closely monitoring the weather situation and in constant contact with the concerned authorities in this regard.

A spokesman for the NCM said the adverse weather was caused by a bout of upper and surface air depression from northern India through southern Pakistan heading towards the UAE, which resulted in the formation of heavy rain clouds.

“It is expected that the depression will continue to exist in the west of the country and will gradually weaken during the evening and night [on Thursday], with the continuation of the chance of some rain clouds forming over some eastern and western regions of the country,” he said.

“In general, the situation has weakened since yesterday.”

There were 20 weather warnings issued between July 23 and today, including 70 alerts on social media.

Brig Gen Dr Ali Al Tunaiji, spokesman for the Ministry of Interior, urged the public to closely monitor the NCM weather alerts and abide by warnings sent out by the authorities.

He commended the efforts of those involved in the rescue and clean-up operations.

On Thursday, Sheikh Mohammed bin Hamad Al Sharqi, Crown Prince of Fujairah, inspected the areas affected by the heavy rains in the emirate.

Sheikh Mohammed bin Hamad Al Sharqi, centre, Fujairah Crown Prince, inspecting the areas that were affected by heavy flooding in the emirate. He was accompanied by Salem Al Zahmi, director of the Fujairah Crown Prince's Office and Brig Gen Mohammed Al Tunaiji, deputy commander-in-chief of Fujairah Police.Photo: Fujairah Media Office
Sheikh Mohammed bin Hamad Al Sharqi, centre, Fujairah Crown Prince, inspecting the areas that were affected by heavy flooding in the emirate. He was accompanied by Salem Al Zahmi, director of the Fujairah Crown Prince's Office and Brig Gen Mohammed Al Tunaiji, deputy commander-in-chief of Fujairah Police.Photo: Fujairah Media Office

During the inspection tour, he stressed that efforts will continue and all resources will be allocated to deal with the current situation.

Over the past few days, parts of the UAE have already received more than twice the country's typical annual rainfall.

The highest rainfall was recorded at a National Centre of Meteorology rain gauge in Fujairah Port where 234.9mm of rain fell from 10:30pm on July 25 to 9.18am on Thursday.

The second highest was Masafi — 209.7mm — with the third highest recorded in Fujairah Airport with 187.9mm.

Late on Wednesday, the government said non-essential public and private sector workers in flood-affected areas, including Sharjah, Fujairah and Ras Al Khaimah, could work from home on Thursday and Friday.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, also called on nearby hotels to provide temporary accommodation for people displaced from their homes by the adverse weather. A report is being drawn up to assess the damage caused by the floods so that work can commence to protect people and property in the Emirates.

Per the latest weather report, things are expected to ease slightly on Friday, although there will be a chance of rain over some areas of the country.

"Partly cloudy in general with another increase in temperatures and the probability of some convective cloud formation over some eastern areas, which may extend over internal areas during daytime," the NCM bulletin said.

"Expect light to moderate south-easterly to north-easterly winds, freshening at times causing blowing dust and sand, with a speed of 15–25km per hour.

"The sea will be rough to moderate in the Arabian Gulf and moderate to slight in the Oman Sea."

BLACKBERRY
%3Cp%3EDirector%3A%20Matt%20Johnson%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Jay%20Baruchel%2C%20Glenn%20Howerton%2C%20Matt%20Johnson%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
WORLD RECORD FEES FOR GOALKEEPERS

1) Kepa Arrizabalaga, Athletic Bilbao to Chelsea (£72m)

2) Alisson, Roma to Liverpool (£67m)

3) Ederson, Benfica to Manchester City (£35m)

4) Gianluigi Buffon, Parma to Juventus (£33m)

5) Angelo Peruzzi, Inter Milan to Lazio (£15.7m

The%20specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E261hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E400Nm%20at%201%2C750-4%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E10.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C999%20(VX%20Luxury)%3B%20from%20Dh149%2C999%20(VX%20Black%20Gold)%3C%2Fp%3E%0A
WITHIN%20SAND
%3Cp%3EDirector%3A%20Moe%20Alatawi%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Ra%E2%80%99ed%20Alshammari%2C%20Adwa%20Fahd%2C%20Muhand%20Alsaleh%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

'HIJRAH%3A%20IN%20THE%20FOOTSTEPS%20OF%20THE%20PROPHET'
%3Cp%3E%3Cstrong%3EEdited%20by%3A%3C%2Fstrong%3E%20Idries%20Trevathan%3Cbr%3E%3Cstrong%3EPages%3A%3C%2Fstrong%3E%20240%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Hirmer%20Publishers%3Cbr%3E%3Cstrong%3EAvailable%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
SPEC%20SHEET
%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Apple%20M2%2C%208-core%20CPU%2C%20up%20to%2010-core%20CPU%2C%2016-core%20Neural%20Engine%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%2013.6-inch%20Liquid%20Retina%2C%202560%20x%201664%2C%20224ppi%2C%20500%20nits%2C%20True%20Tone%2C%20wide%20colour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F16%2F24GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStorage%3A%3C%2Fstrong%3E%20256%2F512GB%20%2F%201%2F2TB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20Thunderbolt%203%20(2)%2C%203.5mm%20audio%2C%20Touch%20ID%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%206%2C%20Bluetooth%205.0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%2052.6Wh%20lithium-polymer%2C%20up%20to%2018%20hours%2C%20MagSafe%20charging%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECamera%3A%3C%2Fstrong%3E%201080p%20FaceTime%20HD%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20Support%20for%20Apple%20ProRes%2C%20HDR%20with%20Dolby%20Vision%2C%20HDR10%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAudio%3A%3C%2Fstrong%3E%204-speaker%20system%2C%20wide%20stereo%2C%20support%20for%20Dolby%20Atmos%2C%20Spatial%20Audio%20and%20dynamic%20head%20tracking%20(with%20AirPods)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Silver%2C%20space%20grey%2C%20starlight%2C%20midnight%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20MacBook%20Air%2C%2030W%20or%2035W%20dual-port%20power%20adapter%2C%20USB-C-to-MagSafe%20cable%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh4%2C999%3C%2Fp%3E%0A
GROUPS AND FIXTURES

Group A
UAE, Italy, Japan, Spain

Group B
Egypt, Iran, Mexico, Russia

Tuesday
4.15pm
: Italy v Japan
5.30pm: Spain v UAE
6.45pm: Egypt v Russia
8pm: Iran v Mexico

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

THE%20STRANGERS'%20CASE
%3Cp%3E%3Cstrong%3EDirector%3C%2Fstrong%3E%3A%20Brandt%20Andersen%3Cbr%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EOmar%20Sy%2C%20Jason%20Beghe%2C%20Angeliki%20Papoulia%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A

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.”

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin

PROFILE OF HALAN

Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

Royal wedding inspired menu

Ginger, citrus and orange blossom iced tea

Avocado ranch dip with crudites

Cucumber, smoked salmon and cream cheese mini club sandwiches

Elderflower and lemon syllabub meringue

Overview

Cricket World Cup League Two: Nepal, Oman, United States tri-series, Tribhuvan University, Kathmandu

Fixtures
Wednesday February 5, Oman v Nepal
Thursday, February 6, Oman v United States
Saturday, February 8, United States v Nepal
Sunday, February 9, Oman v Nepal
Tuesday, February 11, Oman v United States
Wednesday, February 12, United States v Nepal

Company profile: buybackbazaar.com

Name: buybackbazaar.com

Started: January 2018

Founder(s): Pishu Ganglani and Ricky Husaini

Based: Dubai

Sector: FinTech, micro finance

Initial investment: $1 million

UAE currency: the story behind the money in your pockets
'The Batman'

Stars:Robert Pattinson

Director:Matt Reeves

Rating: 5/5

Updated: July 28, 2022, 4:59 PM