Abdel Karim Al Rashid, of Saudi Arabia, with his falcon at the Fazza Championship for Falconry, in Dubai. Jeffrey E Biteng / The National
Abdel Karim Al Rashid, of Saudi Arabia, with his falcon at the Fazza Championship for Falconry, in Dubai. Jeffrey E Biteng / The National

More than a competition, falconry is a passion



DUBAI // In darkness, whispered incantations are meant to focus the falcon’s flight moments before it is unbound from its hooded state.

Having been starved for days before the competition, the bird’s heightened hunting instinct instantly locks on to the man-made prey hundreds of metres away.

Mohammed Al Fadala looks at his falcon, observing its reaction to the sudden appearance of light, but it does not take long for the bird to stretch out and take flight.

“This bird, Al Sayaaf, is as old as my son, 14 years,” said Mr Al Fadala. “I’ve raised him and taken it as my joy to bring him to the bird he is today.”

The relationship between the master and hunter is one that requires patience. Some falconers stay awake for days training a new bird to perch.

But the bond, said Mr Al Fadala – an Emirati who competed at the Fazza Championship for Falconry – is unlike anything else.

“If he gets sick, I get sick,” he said. “My relationship with the birds – this is love, this is friendship, almost a kinship between us. How can I even explain it?”

He said falconry was his hobby, a sport that does as much for him as it does for anyone else with a passion in life.

“It’s steeped in our tradition to become masters of flight through these birds. They are beautiful animals, and competitions allow us to showcase that.”

K M, a Saudi national who drove from Riyadh to Dubai to participate, sat on the sidelines moments before his bird got to show its paces.

“In falcons we find history, we find a sport, a friendship with others who share. And in a place like this, we can all enjoy the sport,” he said.

It takes a lot to make sure the falcons will fly straight and low, a desirable outcome at falconry competitions. Some birds, K M said, require obedience but eventually, they will come to understand the relationship.

“All birds are wild. They remain wild, but it is up to the falconer to bring him closer to the challenge, to make him fly true and fast.”

The hunt in competitions seldom lasts more than 25 seconds but it is an art form that has taken civilisations to perfect.

Historically, the sport practised in the Arabian Gulf has existed wherever falcons were found. It is believed that Kitab Al Mutawakkil, an important treatise on falconry, was obtained and translated by Fredrick II, the Holy Roman Emperor, during the 13th century, and was the first time falconry was introduced to the West.

But the earliest accounts of falconry were recorded in Mesopotamia from 2,000BC when the pastime afforded participants sport and status, and not much has changed since. “I can spend days talking about what it takes, how much it means, to take a bird to this level,” said Fathal Al Mashry, of the Qatari Lebertha team. “This is a lifestyle, not a simple flight.

“As long as we have people supporting it, it will never die as a sport, and we’d like to thank everyone involved in making this passion.”

The festival, run by the Hamdan bin Mohammed Heritage Centre, took place last week.

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

What is a robo-adviser?

Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.

Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

Moonfall

Director: Rolan Emmerich

Stars: Patrick Wilson, Halle Berry

Rating: 3/5

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

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AT4 Ultimate, as tested

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Specs
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Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
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The 12 breakaway clubs

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

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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The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

'Cheb%20Khaled'
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A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

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UAE currency: the story behind the money in your pockets
PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

Company profile

Name: Infinite8

Based: Dubai

Launch year: 2017

Number of employees: 90

Sector: Online gaming industry

Funding: $1.2m from a UAE angel investor

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