• Closing fireworks at Expo 2020 Dubai. Ruel Pableo for The National
    Closing fireworks at Expo 2020 Dubai. Ruel Pableo for The National
  • Stunning fireworks display brought the curtain down on the world's fair on Thursday night. Ruel Pableo for The National
    Stunning fireworks display brought the curtain down on the world's fair on Thursday night. Ruel Pableo for The National
  • Actress Mira Singh and dancers perform at the closing ceremony of Expo 2020 Dubai. EPA
    Actress Mira Singh and dancers perform at the closing ceremony of Expo 2020 Dubai. EPA
  • Musician Yo-Yo Ma performs during the Expo 2020 Dubai closing ceremony. AP
    Musician Yo-Yo Ma performs during the Expo 2020 Dubai closing ceremony. AP
  • Artists perform during the closing ceremony of Expo 2020. AFP
    Artists perform during the closing ceremony of Expo 2020. AFP
  • Artists perform during the Expo 2020 Dubai closing ceremony. AP
    Artists perform during the Expo 2020 Dubai closing ceremony. AP
  • Sheikh Maktoum bin Mohammed, Deputy Prime Minister, Minister of Finance and Deputy Ruler of Dubai, arrives at the closing ceremony of Expo 2020. AFP
    Sheikh Maktoum bin Mohammed, Deputy Prime Minister, Minister of Finance and Deputy Ruler of Dubai, arrives at the closing ceremony of Expo 2020. AFP
  • Artists perform during the closing ceremony in Dubai. AP
    Artists perform during the closing ceremony in Dubai. AP
  • A visitor take photos during the closing ceremony. EPA
    A visitor take photos during the closing ceremony. EPA
  • Artists perform during the closing ceremony. Reuters
    Artists perform during the closing ceremony. Reuters
  • Dancers perform during the official closing ceremony. EPA
    Dancers perform during the official closing ceremony. EPA
  • Artists perform during the closing ceremony of Expo Dubai 2020. Reuters
    Artists perform during the closing ceremony of Expo Dubai 2020. Reuters
  • Fireworks and lightshow at the closing of Expo 2020 Dubai. Ruel Pableo for The National
    Fireworks and lightshow at the closing of Expo 2020 Dubai. Ruel Pableo for The National
  • Fireworks and lightshow at the closing of Expo 2020 Dubai. Ruel Pableo for The National
    Fireworks and lightshow at the closing of Expo 2020 Dubai. Ruel Pableo for The National
  • Fireworks and lightshow at the closing of Expo 2020 Dubai. Ruel Pableo for The National
    Fireworks and lightshow at the closing of Expo 2020 Dubai. Ruel Pableo for The National
  • Norah Jones performs during the Expo 2020 Dubai closing ceremony on Thursday night. Getty Images
    Norah Jones performs during the Expo 2020 Dubai closing ceremony on Thursday night. Getty Images
  • An artist performs in the spectacular Al Wasl Dome during the ceremony. Reuters
    An artist performs in the spectacular Al Wasl Dome during the ceremony. Reuters
  • Christina Aguilera was among several international artists who performed on Thursday night. Getty Images
    Christina Aguilera was among several international artists who performed on Thursday night. Getty Images
  • Christina Aguilera lights up Al Wasl Dome. Getty Images
    Christina Aguilera lights up Al Wasl Dome. Getty Images
  • Artists perform during the ceremony. Reuters
    Artists perform during the ceremony. Reuters
  • A spectacular show featuring hundreds of performers brought the curtain down on the world's fair. Reuters
    A spectacular show featuring hundreds of performers brought the curtain down on the world's fair. Reuters
  • A full orchestra was among the performers in Al Wasl Dome. Reuters
    A full orchestra was among the performers in Al Wasl Dome. Reuters
  • The stunning stage for the closing ceremony of Expo 2020 Dubai is set. Antonie Robertson / The National
    The stunning stage for the closing ceremony of Expo 2020 Dubai is set. Antonie Robertson / The National
  • Thousands of visitors enjoyed Expo's farewell night. Antonie Robertson / The National
    Thousands of visitors enjoyed Expo's farewell night. Antonie Robertson / The National
  • Organisers pulled out all the stops for a memorable finale. Antonie Robertson / The National
    Organisers pulled out all the stops for a memorable finale. Antonie Robertson / The National
  • The show could be seen from around the Expo site. Antonie Robertson / The National
    The show could be seen from around the Expo site. Antonie Robertson / The National
  • A big screen showed the spectacle to visitors around the site. Antonie Robertson / The National
    A big screen showed the spectacle to visitors around the site. Antonie Robertson / The National
  • Musicians perform before the closing ceremony. Reuters
    Musicians perform before the closing ceremony. Reuters
  • People visit the Saudi Arabia pavilion on the last day of Expo 2020 Dubai. AP
    People visit the Saudi Arabia pavilion on the last day of Expo 2020 Dubai. AP
  • The interactive floor at the Saudi Arabia pavilion. AP
    The interactive floor at the Saudi Arabia pavilion. AP

Expo 2020 Dubai thrills the world with a send-off to remember


  • English
  • Arabic

As an ending it was as spectacular as the beginning, with a message that Dubai’s welcome to the world does not finish with Expo 2020.

The city gave the world's fair a send-off to remember with a stunning closing ceremony on Thursday night.

After 182 days of festivities, the curtain came down before an audience of tens of thousands — and a global viewership of millions.

Today is not the end of Expo 2020 but a new beginning
Sheikh Mohammed bin Rashid

At the closing finale, the audience continued on a metaphorical journey, led by a young actress, Mira Singh, that they first began on a humid night on September 30, 2021.

With only a brief nod to the past, the audience was thrust into the future with optimism amid strife and conflict around the globe.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said in a recorded voiceover: "Today is not the end of Expo 2020 but a new beginning."

Sheikh Nahyan bin Mubarak, Minister of Tolerance and Coexistence and Commissioner-General of Expo 2020 Dubai echoed that by saying: “Endings are new beginnings; this is how we envision paths for many achievements to come."

Christina Aguilera performs during the closing ceremony. EPA
Christina Aguilera performs during the closing ceremony. EPA

A performance by cellist Yo-Yo Ma of Dvorak's Symphony No. 9 'From the New World' drew a rousing applause from the crowd.

The show included performances from singer Norah Jones and pop star Christina Aguilera. All three will play concerts later in the evening.

Dimitri Kerkentzes, secretary general of the Bureau International des Expositions in Paris, which since 1928 has overseen the world's fair, said Dubai had thrown everything into the effort to make the event a success.

“It’s clear that we have set a new bar here — it’s something I believe [Expo 2025 Osaka] will look to aspire to,” Mr Kerkentzes said on the final day.

“Every Expo is different, but you have to think of what has been achieved here. This is something that we will think about for many, many years to come — to have some kind of strong impact on the future.”

Expo made the world a little bit bigger

  • Air show display on the last day of Expo 2020 Dubai. Pawan Singh / The National
    Air show display on the last day of Expo 2020 Dubai. Pawan Singh / The National
  • Nearly 23 million visits had been made to Expo by the start of this week after the more than one million visits recorded from Friday to Sunday. Pawan Singh / The National
    Nearly 23 million visits had been made to Expo by the start of this week after the more than one million visits recorded from Friday to Sunday. Pawan Singh / The National
  • The Expo has hosted 30,000 events, including government summits and 5,000 sporting fixtures. Pawan Singh / The National
    The Expo has hosted 30,000 events, including government summits and 5,000 sporting fixtures. Pawan Singh / The National
  • A spectacular closing ceremony will be 'end of a beautiful journey' for Expo 2020 Dubai. Antonie Robertson/The National
    A spectacular closing ceremony will be 'end of a beautiful journey' for Expo 2020 Dubai. Antonie Robertson/The National
  • Green spaces and architecture at day of Expo 2020. Antonie Robertson/The National
    Green spaces and architecture at day of Expo 2020. Antonie Robertson/The National
  • Green spaces and architecture at day of Expo 2020. Antonie Robertson/The National
    Green spaces and architecture at day of Expo 2020. Antonie Robertson/The National
  • Green spaces and architecture at day of Expo 2020. Antonie Robertson/The National
    Green spaces and architecture at day of Expo 2020. Antonie Robertson/The National
  • It's a party atmosphere for the last day of Expo 2020 Dubai. Pawan Singh / The National
    It's a party atmosphere for the last day of Expo 2020 Dubai. Pawan Singh / The National
  • Some funky costumes to mark the end of the hugely successful event in Dubai. Pawan Singh / The National
    Some funky costumes to mark the end of the hugely successful event in Dubai. Pawan Singh / The National
  • Big screens put up on the last day of the world's fair in Dubai. Pawan Singh / The National
    Big screens put up on the last day of the world's fair in Dubai. Pawan Singh / The National
  • People flock to the merchandise outlet on the last day of Expo 2020 Dubai. Pawan Singh / The National
    People flock to the merchandise outlet on the last day of Expo 2020 Dubai. Pawan Singh / The National
  • Kids enjoying the dance class at the Sustainability pavilion as Expo 2020 Dubai nears its conclusion. Pawan Singh / The National
    Kids enjoying the dance class at the Sustainability pavilion as Expo 2020 Dubai nears its conclusion. Pawan Singh / The National
  • Visitors on the last day of Expo 2020 Dubai could watch the closing ceremony on more than 20 giant screens across the site, including at the Jubilee Stage, Dubai Millennium Amphitheatre and Festival Garden. Pawan Singh / The National
    Visitors on the last day of Expo 2020 Dubai could watch the closing ceremony on more than 20 giant screens across the site, including at the Jubilee Stage, Dubai Millennium Amphitheatre and Festival Garden. Pawan Singh / The National
  • Visitors enjoy the water feature on the last day. Pawan Singh / The National
    Visitors enjoy the water feature on the last day. Pawan Singh / The National
  • Visitors arrive for the expo's final day. Antonie Robertson / The National
    Visitors arrive for the expo's final day. Antonie Robertson / The National
  • Crowds on the last day of Expo 2020 Dubai. Antonie Robertson / The National
    Crowds on the last day of Expo 2020 Dubai. Antonie Robertson / The National
  • Visitors arrive at the world's fair for the last time. Antonie Robertson / The National
    Visitors arrive at the world's fair for the last time. Antonie Robertson / The National
  • Preparations going on for the closing ceremony at Al Wasl Plaza. Pawan Singh / The National
    Preparations going on for the closing ceremony at Al Wasl Plaza. Pawan Singh / The National
  • Reem Al Hashimy, centre, Minister of State for International Co-operation and director general of Expo 2020 Dubai, on the final day of the Expo. Photo: Expo 2020 Dubai
    Reem Al Hashimy, centre, Minister of State for International Co-operation and director general of Expo 2020 Dubai, on the final day of the Expo. Photo: Expo 2020 Dubai
  • Ms Al Hashimy opens the Sustainability Portal on the Expo's final day. Photo: Expo 2020 Dubai
    Ms Al Hashimy opens the Sustainability Portal on the Expo's final day. Photo: Expo 2020 Dubai
  • Visitors queue to enter the site on the final day. Pawan Singh / The National
    Visitors queue to enter the site on the final day. Pawan Singh / The National
  • Expo staff at the site entrances faced a busy start to the final day. Pawan Singh / The National
    Expo staff at the site entrances faced a busy start to the final day. Pawan Singh / The National
  • Visitors queue at the security gate. Pawan Singh / The National
    Visitors queue at the security gate. Pawan Singh / The National
  • Early arrivals on the final day of the world fair. Pawan Singh / The National
    Early arrivals on the final day of the world fair. Pawan Singh / The National
  • Visitors taking selfies to record their presence on the final day of Expo 2020 Dubai. Pawan Singh / The National
    Visitors taking selfies to record their presence on the final day of Expo 2020 Dubai. Pawan Singh / The National
  • Dubai police prepare for the final day at the world's fair. Pawan Singh / The National
    Dubai police prepare for the final day at the world's fair. Pawan Singh / The National
  • Visitors approach Al Wasl Plaza. Pawan Singh / The National
    Visitors approach Al Wasl Plaza. Pawan Singh / The National
  • A rare opportunity to capture a quiet moment at Expo 2020 Dubai. Pawan Singh / The National
    A rare opportunity to capture a quiet moment at Expo 2020 Dubai. Pawan Singh / The National
  • Visitors on the last day at the EXPO 2020 site in Dubai. Pawan Singh / The National
    Visitors on the last day at the EXPO 2020 site in Dubai. Pawan Singh / The National

If the coronavirus pandemic made the world a smaller place, Expo made it a little bigger for people unable to travel as they once had.

They sampled South Korean noodles, were told of Germany's plans for a greener world, and learnt how Africa's nations are harnessing technology at a dramatic pace.

From Pakistani rock to Filipino pop, bands flew in from the four corners of the world to play at Jubilee Park.

In a city in which every nationality was represented, there was still novelty in hearing a dizzying blend of Mongolian, Chinese, Albanian, Finnish, Shona, not to mention the languages of little-known Polynesian islands — all spoken in a square block.

The prospect of a final glimpse of the fair, which is the size of 600 football fields, led many people to take a day off work. Thousands of children on their spring break school holidays were among the crowds.

Visitor numbers edge towards target

Final visitor numbers will not be released for several days. But the event is known to have inched close to hitting its target of 25 million visits. In the space of three days last week, a million gate entrances were recorded.

Although most of Dubai's coronavirus restrictions had eased by October 1, 2021, lockdowns in Europe, Asia and elsewhere made for a quiet opening three months.

By late December, nine million visits had been recorded.

But officials said from the start, based on research and testimony from world fair authority Bureau International des Expositions, that the second half would be busier.

As of Sunday, March 29, there had been 23 million gate entrances. Expo counts visits rather than visitors, and says many are repeat customers.

Fans loved every minute

Crowds wait to enter Expo 2020 on March 31, 2022, the final day of the world's fair. Pawan Singh / The National
Crowds wait to enter Expo 2020 on March 31, 2022, the final day of the world's fair. Pawan Singh / The National

Expo captured the imagination of many visitors, with some returning time and time again to see more, ticking off the countries with stamps in the famous yellow passport.

Tanmayi Kamath and her son Reyaansh Pai are Expo super fans. They visited every weekend since January and took in every one of the 192 country pavilions. They also visited pavilions such as DP World and Vision, taking that number to 215.

She said: “We visited the first time in November and we were just overwhelmed. Every time we visited it we fell in love with it a little bit more.

“I love to travel, so for me it was a place to see many countries and see their cultures in one place.

“I got to meet a lot of people, I got to taste a lot of cuisines.

“We've just loved it.”

What next for the Expo site?

While many of the large pavilions will be packed up or pulled down in the coming months, a significant number of the buildings will remain in an area called District 2020.

The structures around Al Wasl Plaza dome will remain, as will the lattice centrepiece itself, and others such as the Rove hotel.

Spreading out from that, the concrete low-rise towers that housed many of the smaller country pavilions will be transformed into workspaces and offices for 85 start-up companies. By October, a number of them will have moved into the site.

There are further plans to transform the upper floors of those buildings into loft-style apartments, while 2,800 residences in the Expo staff village will be rented out.

Artist's impression of a residential public space at District 2020. Photo: District 2020
Artist's impression of a residential public space at District 2020. Photo: District 2020

Officials say the public will be able to visit the legacy site freely — even though it will take on a different form as a 15-minute city, and a living and working suburb of Dubai.

Al Wasl Plaza, in particular, has a future as an exhibition or concert space.

“Al Wasl became an icon,” Tareq Ghosheh, Dubai Expo 2020 chief events and entertainment officer, told The National.

He would not reveal precise future plans for the site, which hosted a concert by pop stars Coldplay, but said the public would see it in all its glory again soon.

“This is a one-of-a-kind venue that not too many places will have, or will ever have,” he said.

“Al Wasl has its own plans, the district has plans and it will fit into the bigger plans of Dubai.”

Final scores

18 under: Tyrrell Hatton (ENG)

- 14: Jason Scrivener (AUS)

-13: Rory McIlroy (NIR)

-12: Rafa Cabrera Bello (ESP)

-11: David Lipsky (USA), Marc Warren (SCO)

-10: Tommy Fleetwood (ENG), Chris Paisley (ENG), Matt Wallace (ENG), Fabrizio Zanotti (PAR)

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

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Price: From Dh2,099

Other ways to buy used products in the UAE

UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.

Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.

Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.

For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.

Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.

At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

MISSION: IMPOSSIBLE – FINAL RECKONING

Director: Christopher McQuarrie

Starring: Tom Cruise, Hayley Atwell, Simon Pegg

Rating: 4/5

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

The specs
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SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FLIP5
%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%20Main%20%E2%80%93%206.7%22%20FHD%2B%20Dynamic%20Amoled%202X%2C%202640%20x%201080%2C%2022%3A9%2C%20425ppi%2C%20HDR10%2B%2C%20up%20to%20120Hz%3B%20cover%20%E2%80%93%203%2F4%22%20Super%20Amoled%2C%20720%20x%20748%2C%20306ppi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Qualcomm%20Snapdragon%208%20Gen%202%2C%204nm%2C%20octa-core%3B%20Adreno%20740%20GPU%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECapacity%3A%3C%2Fstrong%3E%20256%2F512GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPlatform%3A%3C%2Fstrong%3E%20Android%2013%2C%20One%20UI%205.1.1%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20camera%3A%3C%2Fstrong%3E%20Dual%2012MP%20ultra-wide%20(f%2F2.2)%20%2B%2012MP%20wide%20(f%2F1.8)%2C%20OIS%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%204K%4030%2F60fps%2C%20full-HD%4060%2F240fps%2C%20HD%40960fps%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFront%20camera%3A%3C%2Fstrong%3E%2010MP%20(f%2F2.2)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%203700mAh%2C%2025W%20fast%20charging%2C%2015W%20wireless%2C%204.5W%20reverse%20wireless%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%205G%3B%20Wi-Fi%2C%20Bluetooth%205.3%2C%20NFC%20(Samsung%20Pay)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20USB-C%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECards%3A%3C%2Fstrong%3E%20Nano-SIM%20%2B%20eSIM%3B%20no%20microSD%20slot%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Cream%2C%20graphite%2C%20lavender%2C%20mint%3B%20Samsung.com%20exclusives%20%E2%80%93%20blue%2C%20grey%2C%20green%2C%20yellow%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20Flip%204%2C%20USB-C-to-USB-C%20cable%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20Dh3%2C899%20%2F%20Dh4%2C349%3C%2Fp%3E%0A
RESULTS
%3Cp%3E%3Cstrong%3E6pm%3A%20Baniyas%20%E2%80%93%20Group%202%20(PA)%20Dh97%2C500%20(Dirt)%201%2C400m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20AF%20Alajaj%2C%20Tadhg%20O%E2%80%99Shea%20(jockey)%2C%20Ernst%20Oertel%20(trainer)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E6.35pm%3A%20The%20Pointe%20%E2%80%93%20Maiden%20(TB)%20Dh82%2C500%20(D)%201%2C200m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Awasef%2C%20Pat%20Dobbs%2C%20Doug%20Watson%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E7.10pm%3A%20Palm%20West%20Beach%20%E2%80%93%20Maiden%20(TB)%20Dh82%2C500%20(D)%201%2C400m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Long%20Kiss%2C%20Jose%20da%20Silva%2C%20Antonio%20Cintra%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E7.45pm%3A%20The%20View%20at%20the%20Palm%20%E2%80%93%20Handicap%20(TB)%20Dh87%2C500%20(D)%201%2C200m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Ranaan%2C%20Tadhg%20O%E2%80%99Shea%2C%20Bhupat%20Seemar%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E8.20pm%3A%20Nakheel%20%E2%80%93%20Handicap%20(TB)%20Dh105%2C000%20(D)%201%2C400m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Raaeb%2C%20Antonio%20Fresu%2C%20Musabah%20Al%20Muhairi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E8.55pm%3A%20The%20Club%20%E2%80%93%20Handicap%20(TB)%20Dh95%2C000%20(D)%201%2C900m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Qareeb%2C%20Sam%20Hitchcock%2C%20Doug%20Watson%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3E9.30pm%3A%20Palm%20Beach%20Towers%20%E2%80%93%20Handicap%20(TB)%20Dh87%2C500%20(D)%201%2C600m%3C%2Fstrong%3E%3Cbr%3EWinner%3A%20Falsehood%2C%20Adrie%20de%20Vries%2C%20Musabah%20Al%20Muhairi%3C%2Fp%3E%0A
RACE CARD AND SELECTIONS

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5,30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,200m

6pm: The President’s Cup Listed (TB) Dh380,000 1,400m

6.30pm: The President’s Cup Group One (PA) Dh2,500,000 2,200m

7pm: Arabian Triple Crown Listed (PA) Dh230,000 1,600m

7.30pm: Handicap (PA) Dh80,000 1,400m

 

The National selections

5pm: RB Hot Spot

5.30pm: Dahess D’Arabie

6pm: Taamol

6.30pm: Rmmas

7pm: RB Seqondtonone

7.30pm: AF Mouthirah

The specs: 2018 Audi R8 V10 RWS

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Engine: 5.2-litre V10

Gearbox: Seven-speed automatic

Power: 540hp @ 8,250rpm

Torque: 540Nm @ 6,500rpm

Fuel economy, combined: 12.4L / 100km

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.”

ONCE UPON A TIME IN GAZA

Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi

Directors: Tarzan and Arab Nasser

Rating: 4.5/5

The specs

Engine: 4-litre twin-turbo V8

Transmission: nine-speed

Power: 542bhp

Torque: 700Nm

Price: Dh848,000

On sale: now

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

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%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Ashima%20Chibber%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Rani%20Mukerji%2C%20Anirban%20Bhattacharya%20and%20Jim%20Sarbh%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
Favourite things

Luxury: Enjoys window shopping for high-end bags and jewellery

Discount: She works in luxury retail, but is careful about spending, waits for sales, festivals and only buys on discount

University: The only person in her family to go to college, Jiang secured a bachelor’s degree in business management in China

Masters: Studying part-time for a master’s degree in international business marketing in Dubai

Vacation: Heads back home to see family in China

Community work: Member of the Chinese Business Women’s Association of the UAE to encourage other women entrepreneurs

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

How to help

Call the hotline on 0502955999 or send "thenational" to the following numbers:

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How to play the stock market recovery in 2021?

If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.

Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.

Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.

Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).

Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal. 

Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.

By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.

As demand for energy fell, the oil and gas industry had a tough year, too.

Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.

He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.” 

This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”

Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.

Updated: June 08, 2023, 7:18 AM