Forget singular rare lunar events - the UAE will soon bear witness to a remarkable night sky trifecta.
On January 31, a "super blue blood moon" will be visible across the country's skies, comprising a total lunar eclipse, a super moon, and a blue moon all at once.
And, luckily for all the non-astronomers out there, you won't need any specialist equipment, either because the phenomenon will be visible to the naked eye.
Confused? You're probably not the only one. Let us break it down:
A super moon is a full moon that appears larger than usual, because it's at its closest distance to Earth in its elliptic orbit. Of the dozen or so new moons that occur each year, two or three of these will become super moons.
A lunar eclipse occurs when the moon passes directly behind the Earth - into its shadow - and can only happen when the sun, Earth and moon are perfectly aligned, with the Earth in the middle. The last partial eclipse in the Emirates was in August.
This is not to be confused with a solar eclipse, which is when the moon is in the middle, blocking the sun.
As the moon takes its place in the Earth's shadow, it will take on a reddish hue - which is where the blood moon comes in.
A blue moon, although the subject of a popular idiom you've likely heard from your mother on the rarity of an event, is arguably the most common occurrence. Its two definitions are used almost interchangeably - as the third full moon in a season that has four full moons, or the second full moon in a calendar month - and it has absolutely no correlation to the colour of the moon.
So, in short: all of these things happening at once is rather a big deal.
Where and when to watch
The optimum viewing time in Dubai will be 6.04pm, when the moon is close to the horizon, said Dubai Astronomy Group chief executive Hasan Al Hariri. The ideal time in Abu Dhabi will be two minutes later at 6.06pm.
Although it will be clearly visible to the naked eye, he recommended finding a high point, or an unobstructed view to the east north-east for the best view. Dubai Astronomy Group was also organising a paid viewing event at the Al Thuraya Astronomy Centre.
However, you'll have to get in position fairly quickly.
You'll only have three minutes to take in the total lunar eclipse, with it ending at 6.07pm. However, you'll have a further hour and four minutes to view the partial eclipse, which will last until 7.11pm, as the moon comes out of Earth's shadow.
While news outlets have been circulating the news that this will be the first such event in 150 years - this is true only for America, not for those in the rest of the world.
The last time this part of the world was privy to a 'super blue blood moon' was on December 30, 1982.
Regardless, it's a rare event. Once in a (super) blue (blood) moon, some might say.
Stan%20Lee
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
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Ticket prices
General admission Dh295 (under-three free)
Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free
Buy tickets at: wbworldabudhabi.com/en/tickets
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.”
Non-oil%20trade
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LIVING IN...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.