DUBAI // A shipment of dried shark fins that was exported to Hong Kong has stirred protests among conservation groups in the Far East.
Bags – an estimated 136 containing more than six tonnes of fins – were discovered at the premises of a seafood trader in Hong Kong this month.
The find has sparked a social-media campaign.
In an article published on April 17 in the South China Morning Post, a Hong Kong-based English-language paper, the conservationists voiced concerns over the legality of the methods used to catch the sharks.
They also criticise Philippine Airlines, which transported the produce from Dubai to Hong Kong.
Conservationists and marine scientists have long been critical of the practice of consuming shark fins, saying that, in the majority of cases, illegal methods are used to catch the fish.
Demand for shark fins is predominantly from Asia with Dubai a major re-export hub for the trade.
Consuming the fins, in a traditional broth, “is still a very significant part of Chinese culture” as well as a status symbol, said Alex Hofford, a conservation photo journalist who discovered and photographed the shipment.
“It shows that you have arrived, to some extent, in the middle class,” said Mr Hofford, who is also an activist with WildLifeRisk, a Hong Kong-based conservation group.
With affluence rising in China and across Asia, conservationists fear the depletion of shark populations will only get worse. About 500 species of shark and rays are known to science and of these 74 are registered as threatened by the International Union for Conservation of Nature.
One tactic to curb the trade has been to put pressure on airlines to stop transporting shark fins. Currently 17 airlines, including Hong Kong’s de facto flag carrier, Cathay Pacific, as well as Dubai-based Emirates, have announced they are no longer transporting shark fins.
But, as some airlines shun the trade, others are picking up the business, Mr Hofford said, explaining the decision to start a campaign petitioning the airline to stop providing routes for the trade.
On April 23, Philippine Airlines bowed to the pressure and also announced it would stop transporting fins. The airline said on its website that it would “circulate a policy for immediate implementation and strict compliance across the organisation”.
Meanwhile, the UAE Ministry of Environment and Water has investigated the shipment.
“After reviewing all the information, it appears that all the relevant import and re-export documents are accurate and were not in breach of any national legislations for the trade in marine products,” the ministry said.
The fins were taken from several species of sharks that were imported to the UAE and then re-exported to Hong Kong via Manilla on Philippine Airlines.
“Had there been anything illegal with this shipment, the company would have faced severe consequences based on the penalties established by Federal Law 23 of 1999 concerning the exploitation, protection and development of the living aquatic resources in the UAE,” the ministry said.
When the pictures and footage from Hong Kong were shown to marine experts they were not able to find irregularities among the limited evidence provided. It was impossible to tell, for example, how the fins were harvested. In many cases, fishermen cut the fins off sharks while they are still alive and then release the animals back into the water, where they die in an agonising manner, effectively drowning.
Dr Ralf Sonntag, director of the International Fund for Animal Welfare (Ifaw) Germany and a marine scientist, said the practice was very wasteful since it uses between only 1 per cent and 5 per cent of a shark.
“Sharkfinning is not only a huge conservation issue it is also against all international standards of animal welfare because many sharks are alive when they are thrown overboard with their fins cut off,” he said.
The practice is banned in the UAE, where fishermen have to bring the whole shark to port. The ministry has also introduced additional limitations on local shark fishing. Sharks cannot be targeted from January until the end of April, while regulations seek to limit the number of licensed dhows and prohibit the catch of two sawfish species and the whale shark, which are vulnerable to overexploitation globally.
From September 14 this year, the global trade in several species of endangered shark will enter a more closely controlled regime under the Convention on the International Trade in Endangered Species of Wild Fauna and Flora (Cites). The changes will affect the UAE as well because some – three species of hammerhead sharks and the oceanic white-tip shark (Carcharhinus longimanus) – are found across the region.
In February, the ministry held a workshop with Ifaw to train officials about the changes. The training included a workshop on how to recognise the dried fins.
“These workshops will be continuously organised in the lead-up to September to ensure all stakeholders are ready to implement the new measures,” the ministry said.
vtodorova@thenational.ae
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Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
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Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
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BUNDESLIGA FIXTURES
Friday Hertha Berlin v Union Berlin (11.30pm)
Saturday Freiburg v Borussia Monchengladbach, Eintracht Frankfurt v Borussia Dortmund, Cologne v Wolfsburg, Arminia Bielefeld v Mainz (6.30pm) Bayern Munich v RB Leipzig (9.30pm)
Sunday Werder Bremen v Stuttgart (6.30pm), Schalke v Bayer Leverkusen (9pm)
Monday Hoffenheim v Augsburg (11.30pm)
UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
MATCH INFO
Southampton 0
Manchester City 1 (Sterling 16')
Man of the match: Kevin de Bruyne (Manchester City)
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4.35pm: Tilal Al Khalediah
5.10pm: Continous
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6.20pm: West Acre
7pm: Flood Zone
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Mobile phone packages comparison
Manchester United v Club America
When: Thursday, 9pm Arizona time (Friday UAE, 8am)
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
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- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
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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.”
THE LOWDOWN
Photograph
Rating: 4/5
Produced by: Poetic License Motion Pictures; RSVP Movies
Director: Ritesh Batra
Cast: Nawazuddin Siddiqui, Sanya Malhotra, Farrukh Jaffar, Deepak Chauhan, Vijay Raaz
How the bonus system works
The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.
The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.
There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).
All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.
From Europe to the Middle East, economic success brings wealth - and lifestyle diseases
A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.
One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait, Qatar and Oman – and second on the list in Bahrain.
In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.
The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.
And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.
Where to buy
Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
The 12 breakaway clubs
England
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.