ABU DHABI // Four Emiratis have been arrested in Iran for hunting the endangered houbara bustard without a permit.
A report from Iran's Press TV said the arrests were made on Monday in the country's western Ilam province. Officials from Iran's Environment Protection Organisation said they caught the men with 10 of the rare birds, which are prized by Arabs hunting with falcons.
Authorities found a shotgun, a falcon-tracking device, a walkie-talkie, falcon blinders and "other evidence" indicating that the men had been hunting, the report said.
The houbara bustard has suffered large declines in numbers in the past two decades. Experts estimate that in the Arabian Peninsula and North Africa, populations are down by a quarter, while in Central Asia the decline is estimated to be as much as 40 per cent. Hunting and destruction of its habitat are believed to be the main reasons behind the declines.
It is forbidden to hunt in Iran without a permit from the office of the president, said an Iranian diplomatic source. However, he called the incident "a simple case", expressing his belief that it would be resolved quickly.
"These things happen a lot but they get solved quickly," the source said.
"Things happen that are not on purpose, whether it is hunting or boats crossing borders while fishing, and they get solved quickly just by telephone or by a letter from the foreign ministry."
He said hunters in Iran could not target certain types of bustard, falcons and other birds, although important Gulf officials visiting Iran were often given hunting permits.
Hunting houbara bustards with falcons is an ancient UAE tradition, older even than camel racing, said Dr Ulrich Wernery, the scientific director of the Central Veterinary Research Laboratory in Dubai.
"It is a very prestigious sport but it is very difficult for falconers to catch a houbara because it is a big bird and it is quite fast," he said.
Because of the decline of the birds in the Emirates, wealthy falconers go abroad - to Iran, Pakistan, Turkmenistan, Kazakhstan, Morocco and Algeria - to hunt.
Nigel Collar, an expert from BirdLife International, said that while the tradition of falconry was much respected, modern technology had changed the sport, significantly increasing its environmental impact.
He said that from a scenario usually involving "one man with a falcon on a camel" it had evolved to "many people travelling long distances in the desert in desert-adapted vehicles".
"The houbara does not really stand a chance now," Dr Collar added.
"There is a serious concern that there is a great deal of over-hunting … the problem is quite a serious one and it is quite a difficult one to do anything about."
One solution has been to breed the birds in captivity and then release them to supplement wild populations.
Dubai and Abu Dhabi have their own breeding centres, while in Saudi Arabia there is a research and breeding centre in Taif. The UAE also supports breeding programmes in several countries, including Morocco.
Dr Collar said that while the practice was valuable it was not the ultimate solution in keeping the bird from extinction.
Captive breeding programmes "are not necessarily a bad thing but science has not developed enough to show this is the most appropriate way", he said.
The results of breeding programmes depend on the ability of the released birds to integrate in the wild.
Also, there is concern that if released in large numbers, they would compete for food with other wild birds. "Captive breeding is valuable but the question is at what scale," Dr Collar said.
vtodorova@thenational.ae
* With additional reporting from Kareem Shaheen and Bloomberg
Test series fixtures
(All matches start at 2pm UAE)
1st Test Lord's, London from Thursday to Monday
2nd Test Nottingham from July 14-18
3rd Test The Oval, London from July 27-31
4th Test Manchester from August 4-8
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.”
What She Ate: Six Remarkable Women & the Food That Tells Their Stories
Laura Shapiro
Fourth Estate
Schedule:
Friday, January 12: Six fourball matches
Saturday, January 13: Six foursome (alternate shot) matches
Sunday, January 14: 12 singles