Larry Castro is undergoing chemotherapy and in is desperate need of a bone marrow transplant. Jeffrey E Biteng / The National
Larry Castro is undergoing chemotherapy and in is desperate need of a bone marrow transplant. Jeffrey E Biteng / The National

Leukaemia father’s plea to help him pay for lifesaving operation



DUBAI // A father who has leukaemia is anxiously waiting for the results of tests on his bone marrow to find out if he is well enough to have a life-saving transplant.

Larry Castro, 35, from the Philippines, is in desperate need of a transplant after repeated relapses and undergoing numerous cycles of chemotherapy.

He had acute myeloid leukaemia (AML) diagnosed in 2011 and has had two relapses after undergoing chemotherapy at points over the last four years.

“My last round of chemo ended on September 14 and I’ve been recovering since then,” said Mr Castro.

“I went for some tests on my bone marrow on Monday and we’re expecting the results back this week.

“If the results come back that I have 5 per cent or less cancer then I’ll probably be discharged from Dubai Hospital and will immediately be able to have the transplant operation.”

Although Mr Castro, who works as a building painter in Dubai, has a bone-marrow donor, the stumbling block is the cost of the operation.

“I need to raise Dh400,000 to pay for the operation in the Philippines,” he said.

He is hopeful of getting a donation of Dh50,000 from Emirates Red Crescent and Dh30,000 from various other charities.

However, that still leaves a significant shortfall, so Mr Castro has set up and online appeal through crowd-funding website You Caring.

“I’m appealing for US$100,000 (Dh367,300) and so far there is about $5,330 donated,” he said.

“Hopefully people will see my story and decide to help.”

It’s been a difficult period for Mr Castro and his family, especially his 12-year-old daughter Charmaine, and doctors have warned him that only a bone-marrow transplant will give him the best chance of overcoming the disease.

He was admitted to hospital in September last year and underwent five cycles of chemotherapy.

“Since the end of the treatment a few weeks ago I’m feeling a lot better physically,” Mr Castro said.

“It takes about a month or so for the blood to recover fully and I really hope the tests come back to show that I can have the operation.

“If not, I will have to undergo yet another round of chemo.”

AML is a cancer of the white blood cells and is very aggressive, resulting in frequent infections.

For more information or to donate, please visit www.youcaring.com and search for "Larry Castro".

nhanif@thenational.ae

Squid Game season two

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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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Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
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How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
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What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
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COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Company%20Profile
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Name: Atheja Ali Busaibah

Date of birth: 15 November, 1951

Favourite books: Ihsan Abdel Quddous books, such as “The Sun will Never Set”

Hobbies: Reading and writing poetry

UAE currency: the story behind the money in your pockets
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Indoor cricket in a nutshell

Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

Side nets between halfway and the bowlers end: 2 runs

Back net: 4 runs on the bounce, 6 runs on the full