• Sheikh Abdullah bin Mohammed, chairman of the Department of Health Abu Dhabi at the inauguration of the Sheikha Fatima Children's Hospital and Surgical Centre in Pristina, Kosovo. All photos by Wam
    Sheikh Abdullah bin Mohammed, chairman of the Department of Health Abu Dhabi at the inauguration of the Sheikha Fatima Children's Hospital and Surgical Centre in Pristina, Kosovo. All photos by Wam
  • Vjosa Osmani, President of Kosovo, far left, inaugurated the Sheikha Fatima Children's Hospital and Surgical Centre in Pristina.
    Vjosa Osmani, President of Kosovo, far left, inaugurated the Sheikha Fatima Children's Hospital and Surgical Centre in Pristina.
  • The paediatric hospital, the first in Kosovo, has several specialised clinics, diagnostic departments and emergency services for mothers and children.
    The paediatric hospital, the first in Kosovo, has several specialised clinics, diagnostic departments and emergency services for mothers and children.
  • The hospital was built within the campus of the University Clinical Centre of Kosovo and is connected to its obstetrics and paediatrics departments.
    The hospital was built within the campus of the University Clinical Centre of Kosovo and is connected to its obstetrics and paediatrics departments.
  • It is fully equipped with advanced medical equipment, including intensive care units, and has radiology and procedure rooms.
    It is fully equipped with advanced medical equipment, including intensive care units, and has radiology and procedure rooms.
  • It is fully equipped with advanced medical equipment, including intensive care units, and has radiology and procedure rooms.
    It is fully equipped with advanced medical equipment, including intensive care units, and has radiology and procedure rooms.
  • The hospital is the largest humanitarian project in Kosovo focused on providing quality healthcare to children.
    The hospital is the largest humanitarian project in Kosovo focused on providing quality healthcare to children.
  • The hospital is the largest humanitarian project in Kosovo focused on providing quality healthcare to children.
    The hospital is the largest humanitarian project in Kosovo focused on providing quality healthcare to children.
  • Sunday's inauguration was attended by several ministers and dignitaries. These included Albin Kurti, prime minister of Kosovo; Arben Vitia, the country’s Minister of Health; Sheikh Abdullah bin Mohammed, chairman of the Department of Health Abu Dhabi; Maitha Al Shamsi, Minister of State; and Abdulsalam Al Rumaithi, UAE ambassador to Montenegro and non-resident ambassador to Kosovo.
    Sunday's inauguration was attended by several ministers and dignitaries. These included Albin Kurti, prime minister of Kosovo; Arben Vitia, the country’s Minister of Health; Sheikh Abdullah bin Mohammed, chairman of the Department of Health Abu Dhabi; Maitha Al Shamsi, Minister of State; and Abdulsalam Al Rumaithi, UAE ambassador to Montenegro and non-resident ambassador to Kosovo.
  • The hospital is built on an area of 11,000 square metres; it has four floors and 109 beds. Services provided include paediatric cardiology and paediatric surgery, emergency medicine and oncology.
    The hospital is built on an area of 11,000 square metres; it has four floors and 109 beds. Services provided include paediatric cardiology and paediatric surgery, emergency medicine and oncology.
  • The hospital’s emergency department will have an operating room. It will have outpatient clinics for internal medicine, surgery and oncology, as well as 14 consultation rooms.
    The hospital’s emergency department will have an operating room. It will have outpatient clinics for internal medicine, surgery and oncology, as well as 14 consultation rooms.
  • The hospital is built on an area of 11,000 square metres; it has four floors and 109 beds. Services provided include paediatric cardiology and paediatric surgery, emergency medicine and oncology.
    The hospital is built on an area of 11,000 square metres; it has four floors and 109 beds. Services provided include paediatric cardiology and paediatric surgery, emergency medicine and oncology.

UAE

Government

Children's hospital funded by Sheikha Fatima inaugurated in Kosovo

President Vjosa Osmani thanks the UAE for its help

The National

September 14, 2021

  • English
  • Arabic

A new hospital in Kosovo that was funded by Sheikha Fatima bint Mubarak, the Mother of the Nation, has been opened by the country's president.

Vjosa Osmani inaugurated the Sheikha Fatima Children's Hospital and Surgical Centre in Pristina, the country's capital, on Sunday.

The paediatric hospital, the first in Kosovo, has several specialised clinics, diagnostic departments and emergency services for mothers and children.

The hospital was built within the campus of the University Clinical Centre of Kosovo and is connected to its obstetrics and paediatrics departments.

It is fully equipped with advanced medical equipment, including intensive care units, and has radiology and procedure rooms.

At the inauguration, Ms Osmani thanked the UAE for its help. She also applauded the efforts of Sheikha Fatima, who is also the chairwoman of the General Women's Union, the Supreme Council for Motherhood and Childhood, and is supreme chairwoman of the Family Development Foundation.

The hospital is the largest humanitarian project in Kosovo focused on providing quality healthcare to children. Its opening also comes at a time when the spread of Covid-19 has placed an additional strain on healthcare resources in Kosovo.

Sunday's inauguration was attended by several ministers and dignitaries. These included Albin Kurti, prime minister of Kosovo; Arben Vitia, the country’s Minister of Health; Sheikh Abdullah bin Mohammed, chairman of the Department of Health Abu Dhabi; Maitha Al Shamsi, Minister of State; and Abdulsalam Al Rumaithi, UAE ambassador to Montenegro and non-resident ambassador to Kosovo.

Mr Kurti, Kosovo's prime minister, thanked the UAE and said the long-standing relationship between the two countries would only become stronger.

The hospital is built on an area of 11,000 square metres; it has four floors and 109 beds. Services provided include paediatric cardiology and paediatric surgery, emergency medicine and oncology.

The hospital’s emergency department will have an operating room. It will have outpatient clinics for internal medicine, surgery and oncology, as well as 14 consultation rooms.

Its neonatal intensive care unit has 44 beds, while the paediatric intensive care unit has 12.

The day Emirati troops came to help war-torn Kosovo - in pictures

  • Sheikh Mohamed Bin Zayed, Chief of Staff of the Armed Forces, joins Emirati officers during a training session in Canjuers, southern France, in July 1999, before their deployment to KFOR in Kosovo. Jack Dabaghian / AFP
    Sheikh Mohamed Bin Zayed, Chief of Staff of the Armed Forces, joins Emirati officers during a training session in Canjuers, southern France, in July 1999, before their deployment to KFOR in Kosovo. Jack Dabaghian / AFP
  • Emirati troops sit on their tanks on the main bridge separating the ethnically divided town of Kosovska Mitrovica on February 27, 2000. The UAE soldiers were sent to guard the bridge. Jack Guez / AFP
    Emirati troops sit on their tanks on the main bridge separating the ethnically divided town of Kosovska Mitrovica on February 27, 2000. The UAE soldiers were sent to guard the bridge. Jack Guez / AFP
  • UAE Air Force personnel load neck braces into a helicopter for a flight up to the Kosovar refugee camps in northern Albania on April 25, 1999. Hundreds of thousands of refugees arriving in the camps have injuries. Mike Nelson / AFP
    UAE Air Force personnel load neck braces into a helicopter for a flight up to the Kosovar refugee camps in northern Albania on April 25, 1999. Hundreds of thousands of refugees arriving in the camps have injuries. Mike Nelson / AFP
  • Thousands of refugees make their way home across the border from Albania into Kosovo Wednesday on June 16, 1999. There were more than 120,000 refugees in the Kukes area. David Guttenfelder / AP
    Thousands of refugees make their way home across the border from Albania into Kosovo Wednesday on June 16, 1999. There were more than 120,000 refugees in the Kukes area. David Guttenfelder / AP
  • Emirati soldiers sit atop a pillbox reading a map at the Nato humanitarian base at the Tirana Airport April 28, 1999 in Albania. The UAE Air Force flies four helicopter-missions a day to bring aid to Kosovar refugees in northern Albania. Mike Nelson / AFP
    Emirati soldiers sit atop a pillbox reading a map at the Nato humanitarian base at the Tirana Airport April 28, 1999 in Albania. The UAE Air Force flies four helicopter-missions a day to bring aid to Kosovar refugees in northern Albania. Mike Nelson / AFP
  • Kosovar refugees settle in the camp on May 10, 1999. Joel Robine / AFP
    Kosovar refugees settle in the camp on May 10, 1999. Joel Robine / AFP
  • Two Emirati attack helicopters fly over the countryside bearing the KFOR markings of the Nato-led peacekeeping mission. Courtesy: Maj Gen Obaid Al Ketbi
    Two Emirati attack helicopters fly over the countryside bearing the KFOR markings of the Nato-led peacekeeping mission. Courtesy: Maj Gen Obaid Al Ketbi
  • UAE forces begin building a refugee camp in mid-April on muddy ground. Spring in Albanian brought snow, pouring rain and rising temperatures - often in the space of one day. Courtesy: Maj Gen Obaid Al Ketbi
    UAE forces begin building a refugee camp in mid-April on muddy ground. Spring in Albanian brought snow, pouring rain and rising temperatures - often in the space of one day. Courtesy: Maj Gen Obaid Al Ketbi
  • The White Hands mission camp was located on low ground surrounded by mountains. The UAE Air Force managed to land a huge C-130 Hercules on a disused old landing strip nearby. “It was not easy to reach but thanks to God we succeeded. It was an amazing effort," Al Ketbi says. Courtesy: Maj Gen Obaid Al Ketbi
    The White Hands mission camp was located on low ground surrounded by mountains. The UAE Air Force managed to land a huge C-130 Hercules on a disused old landing strip nearby. “It was not easy to reach but thanks to God we succeeded. It was an amazing effort," Al Ketbi says. Courtesy: Maj Gen Obaid Al Ketbi
  • A young Sheikh Abdullah bin Zayed accompanied by a TV crew tours the camp. Also pictured centre right is Obaid Al Ketbi. Courtesy: Maj Gen Obaid Al Ketbi
    A young Sheikh Abdullah bin Zayed accompanied by a TV crew tours the camp. Also pictured centre right is Obaid Al Ketbi. Courtesy: Maj Gen Obaid Al Ketbi
  • Emirati soldiers pictured at the camp near the town of Kukes, Albania. Courtesy: Maj Gen Obaid Al Ketbi
    Emirati soldiers pictured at the camp near the town of Kukes, Albania. Courtesy: Maj Gen Obaid Al Ketbi
  • Kosovar children receive back to school kits and backpacks. Courtesy: Maj Gen Obaid Al Ketbi
    Kosovar children receive back to school kits and backpacks. Courtesy: Maj Gen Obaid Al Ketbi
  • “We would see four seasons [in a day], from cold to hot to warm weather," says Col Yousef Al Harmoudi. Courtesy: Maj Gen Obaid Al Ketbi
    “We would see four seasons [in a day], from cold to hot to warm weather," says Col Yousef Al Harmoudi. Courtesy: Maj Gen Obaid Al Ketbi
  • Supplies arrive by helicopter. Courtesy: Maj Gen Obaid Al Ketbi
    Supplies arrive by helicopter. Courtesy: Maj Gen Obaid Al Ketbi
  • Refugees queue for food and supplies. Courtesy: Maj Gen Obaid Al Ketbi
    Refugees queue for food and supplies. Courtesy: Maj Gen Obaid Al Ketbi
  • A young girl waves the UAE flag as refugees prepare to return home from Albania to Kosovo. Courtesy: Maj Gen Obaid Al Ketbi
    A young girl waves the UAE flag as refugees prepare to return home from Albania to Kosovo. Courtesy: Maj Gen Obaid Al Ketbi
RIDE%20ON
%3Cp%3EDirector%3A%20Larry%20Yang%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Jackie%20Chan%2C%20Liu%20Haocun%2C%20Kevin%20Guo%3C%2Fp%3E%0A%3Cp%3ERating%3A%202%2F5%3C%2Fp%3E%0A
Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea
The specs

Engine: 6.2-litre supercharged V8

Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

Second Test, Day 2:

South Africa 335 & 75/1 (22.0 ov)
England 205
South Africa lead by 205 runs with 9 wickets remaining

COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3EOlive%20Gaea%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Vivek%20Tripathi%2C%20Jessica%20Scopacasa%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ELicensed%20by%3A%20%3C%2Fstrong%3EDubai%20World%20Trade%20Centre%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Climate-Tech%2C%20Sustainability%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%241.1%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3ECornerstone%20Venture%20Partners%20and%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3C%2Fp%3E%0A
The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

Profile Idealz

Company: Idealz

Founded: January 2018

Based: Dubai

Sector: E-commerce

Size: (employees): 22

Investors: Co-founders and Venture Partners (9 per cent)

If you go

Flights

Emirates flies from Dubai to Phnom Penh with a stop in Yangon from Dh3,075, and Etihad flies from Abu Dhabi to Phnom Penh with its partner Bangkok Airlines from Dh2,763. These trips take about nine hours each and both include taxes. From there, a road transfer takes at least four hours; airlines including KC Airlines (www.kcairlines.com) offer quick connecting flights from Phnom Penh to Sihanoukville from about $100 (Dh367) return including taxes. Air Asia, Malindo Air and Malaysian Airlines fly direct from Kuala Lumpur to Sihanoukville from $54 each way. Next year, direct flights are due to launch between Bangkok and Sihanoukville, which will cut the journey time by a third.

The stay

Rooms at Alila Villas Koh Russey (www.alilahotels.com/ kohrussey) cost from $385 per night including taxes.

SERIE A FIXTURES

Friday Sassuolo v Torino (Kick-off 10.45pm UAE)

Saturday Atalanta v Sampdoria (5pm),

Genoa v Inter Milan (8pm),

Lazio v Bologna (10.45pm)

Sunday Cagliari v Crotone (3.30pm) 

Benevento v Napoli (6pm) 

Parma v Spezia (6pm)

 Fiorentina v Udinese (9pm)

Juventus v Hellas Verona (11.45pm)

Monday AC Milan v AS Roma (11.45pm)

 

 

10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

Race card

5pm: Handicap (PA) Dh80,000 (Turf) 1,600m; 5.30pm: Maiden (PA) Dh80,000 (T) 1,400m

6pm: Handicap (PA) Dh80,000 (T) 1,400m; 6.30pm: Handicap (PA) Dh80,000 (T) 1,200m

7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m

7.30pm: Handicap (TB) Dh100,000 (PA) 1,400m

No more lice

Defining head lice

Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.

Identifying lice

Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.

Treating lice at home

Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.

Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital

Explainer: Tanween Design Programme

Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.

The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.

It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.

The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.

Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20JustClean%3Cbr%3E%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20with%20offices%20in%20other%20GCC%20countries%3Cbr%3E%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%3C%2Fstrong%3E%202016%3Cbr%3E%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20160%2B%20with%2021%20nationalities%20in%20eight%20cities%3Cbr%3E%3Cstrong%3E%3Cbr%3ESector%3A%3C%2Fstrong%3E%20online%20laundry%20and%20cleaning%20services%3Cbr%3E%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%2430m%20from%20Kuwait-based%20Faith%20Capital%20Holding%20and%20Gulf%20Investment%20Corporation%3C%2Fp%3E%0A
The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

FINAL SCORES

Fujairah 130 for 8 in 20 overs

(Sandy Sandeep 29, Hamdan Tahir 26 no, Umair Ali 2-15)

Sharjah 131 for 8 in 19.3 overs

(Kashif Daud 51, Umair Ali 20, Rohan Mustafa 2-17, Sabir Rao 2-26)

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

AIDA%20RETURNS
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ECarol%20Mansour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EAida%20Abboud%2C%20Carol%20Mansour%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5.%2F5%3C%2Fp%3E%0A
Stamp%20duty%20timeline
%3Cp%3E%3Cstrong%3EDecember%202014%3A%3C%2Fstrong%3E%20%20Former%20UK%20chancellor%20of%20the%20Exchequer%20George%20Osborne%20reforms%20stamp%20duty%20land%20tax%20(SDLT)%2C%20replacing%20the%20slab%20system%20with%20a%20blended%20rate%20scheme%2C%20with%20the%20top%20rate%20increasing%20to%2012%20per%20cent%20from%2010%20per%20cent%3A%3C%2Fp%3E%0A%3Cp%3EUp%20to%20%C2%A3125%2C000%20%E2%80%93%200%25%3B%20%C2%A3125%2C000%20to%20%C2%A3250%2C000%20%E2%80%93%202%25%3B%20%C2%A3250%2C000%20to%20%C2%A3925%2C000%20%E2%80%93%205%25%3B%20%C2%A3925%2C000%20to%20%C2%A31.5m%3A%2010%25%3B%20More%20than%20%C2%A31.5m%20%E2%80%93%2012%25%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EApril%202016%3A%3C%2Fstrong%3E%20New%203%25%20surcharge%20applied%20to%20any%20buy-to-let%20properties%20or%20additional%20homes%20purchased.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EJuly%202020%3A%3C%2Fstrong%3E%20Chancellor%20Rishi%20Sunak%20unveils%20SDLT%20holiday%2C%20with%20no%20tax%20to%20pay%20on%20the%20first%20%C2%A3500%2C000%2C%20with%20buyers%20saving%20up%20to%20%C2%A315%2C000.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMarch%202021%3A%3C%2Fstrong%3E%20Mr%20Sunak%20extends%20the%20SDLT%20holiday%20at%20his%20March%203%20budget%20until%20the%20end%20of%20June.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EApril%202021%3A%3C%2Fstrong%3E%202%25%20SDLT%20surcharge%20added%20to%20property%20transactions%20made%20by%20overseas%20buyers.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EJune%202021%3A%3C%2Fstrong%3E%20SDLT%20holiday%20on%20transactions%20up%20to%20%C2%A3500%2C000%20expires%20on%20June%2030.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EJuly%202021%3A%3C%2Fstrong%3E%20Tax%20break%20on%20transactions%20between%20%C2%A3125%2C000%20to%20%C2%A3250%2C000%20starts%20on%20July%201%20and%20runs%20until%20September%2030.%3C%2Fp%3E%0A
While you're here
Voy!%20Voy!%20Voy!
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Omar%20Hilal%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Muhammad%20Farrag%2C%20Bayoumi%20Fouad%2C%20Nelly%20Karim%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
The%20pillars%20of%20the%20Dubai%20Metaverse%20Strategy
%3Cp%3EEncourage%20innovation%20in%20the%20metaverse%20field%20and%20boost%20economic%20contribution%3C%2Fp%3E%0A%3Cp%3EDevelop%20outstanding%20talents%20through%20education%20and%20training%3C%2Fp%3E%0A%3Cp%3EDevelop%20applications%20and%20the%20way%20they%20are%20used%20in%20Dubai's%20government%20institutions%3C%2Fp%3E%0A%3Cp%3EAdopt%2C%20expand%20and%20promote%20secure%20platforms%20globally%3C%2Fp%3E%0A%3Cp%3EDevelop%20the%20infrastructure%20and%20regulations%3C%2Fp%3E%0A

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.”

The specs
Engine: 3.0-litre 6-cyl turbo

Power: 374hp at 5,500-6,500rpm

Torque: 500Nm from 1,900-5,000rpm

Transmission: 8-speed auto

Fuel consumption: 8.5L/100km

Price: from Dh285,000

On sale: from January 2022 

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Updated: September 14, 2021, 9:49 AM