Indian Consulate to display compassion at bus stops



The Indian Consulate in Dubai plans to use information signboards at air-conditioned bus shelters to reach out to expats who need help. Signboards with counselling hotline numbers for those suffering from work-related or social stress will soon be displayed in 600 bus shelters across Dubai. The scheme will provide information on the services offered at the consulate and any new initiatives being launched.

At the inauguration of the first bus shelter today, Venu Rajamony, the consul general of India, said: "The idea is to reach out to as many Indians as possible, especially in these times of financial crisis. This is a great opportunity to publicise consulate services and the hotline numbers to those Indians who commute via buses, especially the construction workers and labourers." Right Angle Media, which is setting up more than 600 bus shelters for the Roads and Transport Authority in Dubai, offered the free advertising space to the public service. The consulate said the signboards, which will display various hot line numbers, have already been prepared.

Mr Rajamony added that the mission's initiative is part of its broader effort to help Indians in their time of need. "In these times of financial crisis, it becomes even more vital for Indians to have such information handy. It is part of the wider outreach plan of the consulate to extend help to as many Indians as possible. The consulate officials will be even more proactive and take adequate steps during this period of economic downturn in identifying Indians in their time of need," said Mr Rajamony. The consulate said the signboards will be in Arabic as well as English.

Indians are the largest expatriate community in Dubai, with Indian men and women working in a range of fields including construction and hospitality. Patrick Chaundy, the president and COO of Right Angle Media, said, "We aim to provide many such public facilities via the outdoor medium which can benefit people living in Dubai." The consulate said the signboards will display contact numbers for those in need of free counselling for work/social stress (050-9433111); people who need help in the event of a family member's death during holidays and after office hours (050-7347676); and passport and visa enquiries (600522229).

All signboards will also display the website address of the Indian Consulate in Dubai. pmenon@thenational.ae

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Company: Rent Your Wardrobe 

Date started: May 2021 

Founder: Mamta Arora 

Based: Dubai 

Sector: Clothes rental subscription 

Stage: Bootstrapped, self-funded 

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How being social media savvy can improve your well being

Next time when procastinating online remember that you can save thousands on paying for a personal trainer and a gym membership simply by watching YouTube videos and keeping up with the latest health tips and trends.

As social media apps are becoming more and more consumed by health experts and nutritionists who are using it to awareness and encourage patients to engage in physical activity.

Elizabeth Watson, a personal trainer from Stay Fit gym in Abu Dhabi suggests that “individuals can use social media as a means of keeping fit, there are a lot of great exercises you can do and train from experts at home just by watching videos on YouTube”.

Norlyn Torrena, a clinical nutritionist from Burjeel Hospital advises her clients to be more technologically active “most of my clients are so engaged with their phones that I advise them to download applications that offer health related services”.

Torrena said that “most people believe that dieting and keeping fit is boring”.

However, by using social media apps keeping fit means that people are “modern and are kept up to date with the latest heath tips and trends”.

“It can be a guide to a healthy lifestyle and exercise if used in the correct way, so I really encourage my clients to download health applications” said Mrs Torrena.

People can also connect with each other and exchange “tips and notes, it’s extremely healthy and fun”.

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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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