ABU DHABI // Emiratis and expatriates have taken to social media to express their grief over the death of the 45 servicemen in Yemen.
The hashtag #UAE45 began trending on Twitter on Saturday as users offered their condolences to the fallen heroes.
Afra Al Dhaheri, an Emirati from Abu Dhabi, said she was devastated when she heard the news on Friday morning.
“We are all heart-broken for our brothers who sacrificed their lives to protect the UAE,” Ms Al Dhaheri said.
“I don’t know any of the soldiers personally but I cried so much. I felt like a member of my family had passed away,” she said.
The founder of the Cloud9 pet hotel said she hoped the community could unite to support each other and the families of the soldiers.
“They are my brothers, every single one of them,” said Ms Al Dhaheri.
Noora Al Mulla, an Emirati who works in the aviation industry, said the fallen servicemen were her “brothers and fathers.”
“We are all one family,” Ms Al Mulla said.
She expressed her gratitude for the sacrifice the soldiers had made.
Another Emirati, Jaber Mohammed, suggested his compatriots should perform Haj this month in place of the fallen servicemen. This is known as Haj Al Badal.
Sultan Al Ameemi said: “Our love for our country has grown through their martyrdom, as has our readiness to answer the call of duty and come to the help of our brothers.”
Expatriates were also moved to comment on the tragedy.
Khalid Mullick, a business information analyst from Pakistan, said he was shocked at the news.
Mr Mullick has been living in this country for five years and said he had “special sentiments for UAE and its leaders”.
Fatima Docrat, the Canadian managing director of a software company who lives in Dubai, said: “My heart and prayers go out to the families and to the nation, the leaders and everyone living here. Hopefully we won’t see more of these tragedies unfolding.
“I hope the conflicts in the region will be resolved peacefully. All of us live here and enjoy the comfort and hospitality of the country and its people and leaders.”
Another Canadian expatriate, K Demchuk-Sinclair, a resident of Abu Dhabi, said the soldiers had died “fighting for freedom and for the protection of people”.
Sally Barnes, a resident of Abu Dhabi from the UK, also expressed her grief on Twitter.
“I’m very sad to hear the news of the soldiers that have be killed. My condolences to all family and friends. May they all rest in peace,” she said.
arizvi2@thenational.ae
How to keep control of your emotions
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.
Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.
Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
If you go...
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
ROUTE TO TITLE
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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.”
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