Environment

Dubai Lamp a bright idea for energy savings

Developed by Dutch electronics giant Philips following a request for a environmentally friendly alternative to conventional light bulbs by Dubai Municipality, the lamp will be available to buy in Ramadan.

Nadeem Hanif

May 23, 2017

DUBAI // The emirate has anounced that the Dubai Lamp, the world's most energy-efficient lightbulb, developed by Philips at the request of the municipality, will go on sale in Ramadan.

The LED bulb uses a fraction of the electricity needed by conventional lights, cuts emissions and will reinforce the emirate’s green credentials.

The bulbs range in power ratings from 1 to 3 watts, replacing 25 to 60 watt bulbs. Costing between Dh18 and Dh33, the bulbs will have a lifespan of 25,000 hours.

“This is the world’s most energy-efficient lightbulb and provides big efficiency savings, as well as lowering electricity bills for consumers,” said Olav Scholte, marketing manager at Philips Lighting Middle East.

“With lighting accounting for 22 per cent of all energy consumption in the Middle East, well above the global average, Dubai Lamp offers unprecedented energy savings and reduction of carbon emissions.

“With consumers more environmentally conscious, we hope that with their support we can put a considerable dent in our carbon footprint.”

The Dubai Lamp was revealed last October as part of the emirate’s sustainability drive, which aims to reduce energy use for lighting by up to 90 per cent.

People can save up to Dh2,000 a year on power bills by using the new bulb, said Mr Scholte.

“Dubai Lamp is also free from mercury and other hazardous substances that you find in conventional incandescent bulbs,” said Amruta Kshemkalyani, a sustainability expert.

“The great thing about the Dubai Lamp is that it makes it very easy and convenient for people to be environmentally friendly.”

Prices for LED light bulbs at Ikea range between Dh9 and Dh45, but all have a higher wattage than the Dubai Lamp. Ace hardware sells LED bulbs for about Dh15 to Dh35.

Ivano Iannelli, from Dubai Carbon, said the new bulbs also had secondary benefits.

“One of the things about normal lightbulbs is that they give off a lot of heat, and that means more air conditioning is required to cool down homes,” said Mr Iannelli.

“But because these bulbs use so little energy that will result in less of a demand for cooling.”

nhanif@thenational.ae

Going grey? A stylist's advice

If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”

The specs: 2017 Porsche 718 Cayman

Price, base / as tested Dh222,500 / Dh296,870

Engine 2.0L, flat four-cylinder

Transmission Seven-speed PDK

Power 300hp @ 6,500rpm

Torque 380hp @ 1,950rpm

Fuel economy, combined 6.9L / 100km

While you're here

Company Profile

Company name: Yeepeey

Started: Soft launch in November, 2020

Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani

Based: Dubai

Industry: E-grocery

Initial investment: $150,000

Future plan: Raise $1.5m and enter Saudi Arabia next year

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.”

Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800