Scientific work funded by an Abu Dhabi organisation showed that a species of giant tortoise from the Galapagos Islands last seen a century ago and feared to have become extinct is very much alive.
The Mohamed bin Zayed Species Conservation Fund provided a grant to support genetic analysis of a giant tortoise found on the archipelago's remote and mostly barren Fernandina Island about two years ago.
That showed that the female reptile was a Fernandina giant tortoise, a species last reported in 1906.
The fund provided two grants, totalling $30,000 (Dh110,196), towards the work at Yale University on the tortoise, named Fern, who was found during a mission by the Galapagos National Park Directorate and Galápagos Conservancy in February 2019.
Along with two other organisations, Re:wild and Turtle Conservancy, the study compared Fern's DNA with archive samples from a long-dead Fernandina.
In finding that it matched, researchers eliminated the possibility that the elderly female was a member of another giant tortoise species carried from a different island.
Sailors moved the tortoises between islands to create food sources.
"Giant tortoises have always been a source of wonder and awe and now, through Fern, they are again taking up their mantle as a symbol of hope for our planet's lost and endangered species, and the protection and restoration of biodiversity," said Don Church, Re:wild's president.
Hope for a breeding programme
Before Fern was discovered "on the flank of a volcano, tucked deep inside a shrub complex" there were hints that giant tortoises remained on Fernandina Island.
In 1964, a mission to the island, which is difficult to get to and is largely covered with lava, found tortoise droppings, while 12 years ago, what appeared to be a tortoise was seen from the air.
Scientists hope that more specimens of the species, which has the scientific name Chelonoidis phantasticus, can be found.
If this happens, they plan to set up a breeding programme.
The Galapagos Islands now have as few as 10 per cent of their original 300,000 population of tortoises, as their numbers were decimated by pirates and whalers, who took thousands for food, and caused further harm by introducing alien species such as rats, pigs and goats, which ate tortoise eggs or young, or damaged the habitat.
The 15 giant tortoise species are all now protected, and the Galapagos National Park Directorate has bred and released thousands of the creatures onto islands in the archipelago, which lie in the Pacific about 1,000 kilometres west of mainland Ecuador.
Several years ago, the national park reintroduced Espanola tortoises to Santa Fe Island, whose population of tortoises was wiped out about 150 years ago.
The Mohamed bin Zayed Species Conservation Fund has made 2,152 grants to conserve 1,402 species or subspecies of animals, plants and other organisms since it was launched in 2009 with an initial endowment of $25 million (Dh91.82m). Most grants do not exceed $25,000.
In pictures: shark conservation in Dubai
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COMPANY PROFILE
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The President's Cake
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Four motivational quotes from Alicia's Dubai talk
“The only thing we need is to know that we have faith. Faith and hope in our own dreams. The belief that, when we keep going we’re going to find our way. That’s all we got.”
“Sometimes we try so hard to keep things inside. We try so hard to pretend it’s not really bothering us. In some ways, that hurts us more. You don’t realise how dishonest you are with yourself sometimes, but I realised that if I spoke it, I could let it go.”
“One good thing is to know you’re not the only one going through it. You’re not the only one trying to find your way, trying to find yourself, trying to find amazing energy, trying to find a light. Show all of yourself. Show every nuance. All of your magic. All of your colours. Be true to that. You can be unafraid.”
“It’s time to stop holding back. It’s time to do it on your terms. It’s time to shine in the most unbelievable way. It’s time to let go of negativity and find your tribe, find those people that lift you up, because everybody else is just in your way.”
THE SPECS
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Power: 165hp
Torque: 241Nm
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On sale: now
Muguruza's singles career in stats
WTA titles 3
Prize money US$11,128,219 (Dh40,873,133.82)
Wins / losses 293 / 149
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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