• Fishermen wade in the water off Shoab beach on Yemen's Socotra Island. All photos: AFP
    Fishermen wade in the water off Shoab beach on Yemen's Socotra Island. All photos: AFP
  • A flowering bottle tree, or desert rose, at Homhil in the northeast of the Yemeni island of Socotra, part of the flora found only in the Indian Ocean archipelago.
    A flowering bottle tree, or desert rose, at Homhil in the northeast of the Yemeni island of Socotra, part of the flora found only in the Indian Ocean archipelago.
  • A lagoon is pictured outside Hadibo, the main city on Socotra island.
    A lagoon is pictured outside Hadibo, the main city on Socotra island.
  • Detwah Lagoon, on the far west of Socotra island, is listed as a wetland of global importance under the Ramsar Convention.
    Detwah Lagoon, on the far west of Socotra island, is listed as a wetland of global importance under the Ramsar Convention.
  • A man stands at the top of a peak on Di-Hamri mountain, Socotra island.
    A man stands at the top of a peak on Di-Hamri mountain, Socotra island.
  • Dragon's blood (Dracaena cinnabari) trees at the top of Dixam mountain on Socotra island.
    Dragon's blood (Dracaena cinnabari) trees at the top of Dixam mountain on Socotra island.
  • Desert rose (Adenium socotranum) plants grow on Di-Hamri mountain on Socotra Island.
    Desert rose (Adenium socotranum) plants grow on Di-Hamri mountain on Socotra Island.
  • A Dragon’s Blood Tree provides shade on the Diksam Plateau in the centre of Socotra island, a species found only on the Indian Ocean archipelago.
    A Dragon’s Blood Tree provides shade on the Diksam Plateau in the centre of Socotra island, a species found only on the Indian Ocean archipelago.
  • An endangered Egyptian Vulture perches on the dead branches of a Dragon’s Blood Tree in Socotra.
    An endangered Egyptian Vulture perches on the dead branches of a Dragon’s Blood Tree in Socotra.
  • Socotra boasts an abundance of Frankincense trees and fresh water springs.
    Socotra boasts an abundance of Frankincense trees and fresh water springs.
  • Dragon Blood Trees can be viewed as far as the eye can see on Socotra Island, Yemen.
    Dragon Blood Trees can be viewed as far as the eye can see on Socotra Island, Yemen.

UAE has pledged $110 million in humanitarian aid to Socotra since 2015


  • English
  • Arabic

The UAE has delivered $110 million of humanitarian aid to the Yemeni island of Socotra since 2015, helping authorities to improve the lives of its residents.

The vital financial contribution over the past six years has bolstered a series of crucial public services, from the health and education sectors to construction and transport, state news agency Wam reported.

The financial aid has been delivered by organisations such as Emirates Red Crescent, the Abu Dhabi Fund for Development, the Khalifa bin Zayed Al Nahyan Foundation, the Sheikh Sultan bin Khalifa Al Nahyan Humanitarian and Scientific Foundation and Abu Dhabi Waste Management Centre.

Key investment has restored Socotra's airport and paid for the construction of two solar power stations, the establishment of four power plants and the installation of power generators in remote villages.

The UAE's relief mission has been integral to the island's health sector by providing medical equipment and ambulances, establishing a fully equipped emergency centre and two surgery rooms, and donating 13 beds and an intensive care unit, in line with international standards.

The aid has also expanded Sheikh Khalifa Hospital, increasing its number of beds to 42 and adding four to the ICU.

The UAE has also offered university scholarships to help 80 students continue their education in Egypt, while 40 received scholarships to UAE University.

It also launched various education projects, including the restoration of schools and the creation of new classes, as well as the opening of the Socotra Institute for Consultancy and Training.

The Emirates has ensured the education sector has the tools to succeed by recruiting teachers from overseas and hiring 440 local teachers.

It has printed 227,000 text books, established the Socotra International University and opened two colleges.

In June, the UAE sent 60,000 Covid-19 vaccine doses to Socotra to help tackle the pandemic.

The Emirates Red Crescent worked with health authorities in Socotra to vaccinate people free of charge at Sheikh Khalifa Hospital.




Company%C2%A0profile
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Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5

 

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.”

Three ways to boost your credit score

Marwan Lutfi says the core fundamentals that drive better payment behaviour and can improve your credit score are:

1. Make sure you make your payments on time;

2. Limit the number of products you borrow on: the more loans and credit cards you have, the more it will affect your credit score;

3. Don't max out all your debts: how much you maximise those credit facilities will have an impact. If you have five credit cards and utilise 90 per cent of that credit, it will negatively affect your score.

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

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The years Ramadan fell in May

1987

1954

1921

1888

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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Veil (Object Lessons)
Rafia Zakaria
​​​​​​​Bloomsbury Academic

Results

4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m; Winner: MM Al Balqaa, Bernardo Pinheiro (jockey), Qaiss Aboud (trainer)

5pm: Jabel Faya – Maiden (PA) Dh60,000 (T) 1,000m; Winner: AF Rasam, Tadhg O’Shea, Ernst Oertel

5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel

6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m; Winner: Mujeeb, Richard Mullen, Salem Al Ketbi

6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m; Winner: Jawal Al Reef, Antonio Fresu, Abubakar Daud

7pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m; Winner: Ashton Tourettes, Pat Dobbs, Ibrahim Aseel

7.30pm: Jebel Hafeet – Maiden (TB) Dh80,000 (T) 1,400m; Winner: Nibraas, Richard Mullen, Nicholas Bachalard

What went into the film

25 visual effects (VFX) studios

2,150 VFX shots in a film with 2,500 shots

1,000 VFX artists

3,000 technicians

10 Concept artists, 25 3D designers

New sound technology, named 4D SRL

 

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

ANDROID%20VERSION%20NAMES%2C%20IN%20ORDER
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Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Top 10 most polluted cities
  1. Bhiwadi, India
  2. Ghaziabad, India
  3. Hotan, China
  4. Delhi, India
  5. Jaunpur, India
  6. Faisalabad, Pakistan
  7. Noida, India
  8. Bahawalpur, Pakistan
  9. Peshawar, Pakistan
  10. Bagpat, India
Updated: August 01, 2021, 5:45 AM