ABU DHABI // Iran has issued a formal letter of complaint over the alleged mistreatment of its citizens trying to enter the UAE.
According to the Islamic republic's state news agency IRNA, the UAE's chargé d'affaires in Tehran was summoned to the foreign ministry on Monday to hear the protest.
Mohammad Javad Rassouli, the director general for Iranian nationals' affairs overseas, was reported to have said the UAE "has insulted Iranian nationals and created unusual obstacles for them".
A number of Iranians have been subject to wrongful arrest, he added.
No further details of the alleged mistreatment were given by IRNA or other Iranian news outlets.
A Government source confirmed the chargé d'affaires had been summoned to the Iranian ministry of foreign affairs. The source said stringent airport procedures were "applied to all nationalities without discrimination".
UAE officials involved in airport security said they were not aware of any incidents that could have led to the formal protest.
"We have not received any complaints - if anyone has a complaint it will reach me but I have not received any," said Maj Gen Mohammed Ahmed al Merri, the director general of the Dubai Naturalisation and Residency Department.
"We treat everybody equally - all the nationalities are the same."
A senior officer with Dubai Airport Police, who asked not to be named, confirmed there were no outstanding complaints against the department from Iranian nationals.
Iranians form one of the largest communities of expatriates in the UAE; about 500,000 live in the country, with most residing in Dubai. There are more than 200 flights between the UAE and Iran each week, and Iran remains the UAE's biggest trading partner. Recent figures put the value of commerce between the two countries at around Dh35.9 billion (US$9.77bn) a year.
Saeed Noorai, a businessman originally from Tehran, said yesterday he had been treated in a "nice and courteous" manner every time he travelled to the country.
"It is very good treatment, nothing different from what I would expect. It didn't even take a long time to get through despite my having to get a visit visa."
Hanie Tahari, 22, a longtime UAE resident, said she had never experienced problems from immigration officials at the airport, although six months ago members of her family travelling from Tehran were kept for more than two hours.
"They were asked a lot of questions, but I don't know why," said Ms Tahari, who works in her family's business. "It seems to happen to people coming directly from Iran. I have never had any problems."
Similarly, an Iranian living in Dubai, who would only be identified as Hossein, 32, said he usually passed through the airport without any hassle. However, on his return from Tehran last week he was questioned more than usual.
"When I came back I was asked for my address and where I work, which was the first time that had happened."
Mehnaz Esmaili, 38, who has lived in Dubai for two years and travels frequently, said: "The experience is not bad and the service is good. But sometimes my luggage is searched more thoroughly and sometimes they [immigration officials] don't behave."
However, Arash, a Dubai resident from Shiraz, said that in the 20 years he had lived in the UAE passing through airport customs had always been easy.
"When I travel I don't get checked or anything. I never had any bad experiences and it has been very easy to pass the airport and they have been very kind with us."
Last month, the UAE sent a letter to the UN Security Council protesting against Iran's decision to build two new facilities on the disputed island of Abu Musa. The island, together with Greater and Lesser Tunb, is claimed by both Iran and the UAE, and has been occupied by Iran since 1971.
Abu Musa, which lies midway between the UAE and Iran, is thought to have access to significant natural resources as well as being an important ecological and strategic site. During the mid-1990s, the US claimed that Iran had based anti-aircraft and anti-ship missiles on the island.
The GCC, which backs the UAE in the dispute, has denounced Iran for undertaking the construction work. Speaking to Abu Dhabi TV last month, the organisation's secretary general, Abdul Rahman al Attiya, said Tehran had shown "an absence of a constructive vision for neighbourly relations" over the issue.
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ELIO
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Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
5 of the most-popular Airbnb locations in Dubai
Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:
• Dubai Marina
The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.
Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739
Two bedroom: Dh627 to Dh960
Three bedroom: Dh721 to Dh1,104
• Downtown
Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure. “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."
Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154
• City Walk
The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena. “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”
Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809
Two bedroom: Dh682 to Dh1,052
Three bedroom: Dh784 to Dh1,210
• Jumeirah Lake Towers
Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.
Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629
Two bedroom: Dh549 to Dh818
Three bedroom: Dh631 to Dh941
• Palm Jumeirah
Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.
Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770
Two bedroom: Dh654 to Dh1,002
Three bedroom: Dh752 to Dh1,152
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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
The specs: 2018 Audi RS5
Price, base: Dh359,200
Engine: 2.9L twin-turbo V6
Transmission: Eight-speed automatic
Power: 450hp at 5,700rpm
Torque: 600Nm at 1,900rpm
Fuel economy, combined: 8.7L / 100km
The Ashes
Results
First Test, Brisbane: Australia won by 10 wickets
Second Test, Adelaide: Australia won by 120 runs
Third Test, Perth: Australia won by an innings and 41 runs
Fourth Test: Melbourne: Drawn
Fifth Test: Australia won by an innings and 123 runs
Company%C2%A0profile
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If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
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Squid Game season two
Director: Hwang Dong-hyuk
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Rating: 4.5/5
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
The biog
Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
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.”
