Dubai has unveiled a 100km trekking path to unlock more of the desert to visitors.
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, visited the newly created nature reserve south of the city.
"We have the most beautiful city in the world and our next goal is to make the countryside and wilderness of Dubai among the most enjoyable and beautiful," he wrote on Twitter.
The path and the desert reserve around it take in areas such as Lusaili, Lehbab, Al Marram, Al Faqaa, Al Aweer and others, he said. It includes Saih Al Salam, a man-made collection of lakes.
The area is located close to the Al Qudra cycle path and the much-Instagrammed Love Lakes.
A map shared by Dubai's government showed an expansive camping ground and an expanded cycle path.
A dedicated sports zone will be home to hot air balloon tours, helicopter rides and dune buggy rentals.
"The development of the countryside and wilderness of Dubai includes a 100km tourist path, the first of its kind in the region, natural reserves, stations for desert sports, and development initiatives that serve the people of these areas," he said.
"A different and new tourism experience will be provided in the countryside and wilderness of Dubai."
The plan, spanning 2,216sq km, includes protecting the natural reserves and archaeological sites, supporting farmers and local products, and creating investment opportunities for locals.
It will construct the first dedicated route for desert vehicles, bicycles and electric scooters to link tourist attractions and entertainment areas with the existing 90km cycling track at Al Qudra and Saih Al Salam.
The project will also establish a station for sandboarding and desert driving, and will offer helicopter tours.
The plan for the 100km Saih Al Salam Scenic Route includes offering trips to the ancient sites of Saruq Al-Hadid and Al Marmoom Heritage Village, horse and camel riding, and desert walks.
As part of the project, camps and lodges will be built, as well as open-air lounges that will allow people to enjoy their stay beside the lakes. Kayak boats will also be available for hire.
Souvenir shops and cafes will be located beside the lakes.
The Saih Al Salam Scenic Route project will also include an outdoor cinema and caravan park.
It also includes plans to host sports such as skydiving, hot air balloons and safari trips, and have a club for remote-controlled planes and cars.
UAE currency: the story behind the money in your pockets
How Voiss turns words to speech
The device has a screen reader or software that monitors what happens on the screen
The screen reader sends the text to the speech synthesiser
This converts to audio whatever it receives from screen reader, so the person can hear what is happening on the screen
A VOISS computer costs between $200 and $250 depending on memory card capacity that ranges from 32GB to 128GB
The speech synthesisers VOISS develops are free
Subsequent computer versions will include improvements such as wireless keyboards
Arabic voice in affordable talking computer to be added next year to English, Portuguese, and Spanish synthesiser
Partnerships planned during Expo 2020 Dubai to add more languages
At least 2.2 billion people globally have a vision impairment or blindness
More than 90 per cent live in developing countries
The Long-term aim of VOISS to reach the technology to people in poor countries with workshops that teach them to build their own device
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.”
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
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