Jet skiers face tough new rules on safety and behaviour



DUBAI // Jet skis must be registered by their owners or rental companies after passing a safety test under tough new laws being brought in to prevent accidents. The new legislation, introduced by the Marine Agency of the Roads and Transport Authority, also requires jet skiers to stay within a cordoned-off zone next to Dubai Offshore Sailing Club's harbour. Jet ski laws have come under scrutiny after a number of deaths and serious injuries in coastal waters.

Anyone caught flouting the new legislation faces a fine of up to Dh1,500 (US$408) and confiscation of the jet ski for one month. The rules came into force last Wednesday. "It is a new service and until now we have registered three jet skis," said the director of registration and licensing at the Marine Agency, Sultan al Kitbi. More zones were planned, in addition to the 5.7 sq km area by the sailing club, where the registration and licensing offices are also located, which at the moment "is the only place you can launch a jet ski", said Mr al Kitbi.

Another zone off Al Mamzar Park, next to the Sharjah border, was being considered. "It is still under study but it will be in the Al Mamzar area." The new laws stipulate that jet ski drivers must be no younger than 14 unless they are in the presence of a parent or a qualified coach. A life jacket must be worn at all times - anyone not wearing one risks a Dh200 fine if caught, rising to a maximum of Dh600 for the third offence.

"We are taking into consideration the safety issues where people swim and the port area where there are cables underneath," added Mr al Kitbi. Additionally, there were construction projects along much of Dubai's coastline and the law would protect jet ski users from straying into such areas. To register their jet skis, owners will have to produce the official purchase invoice, customer clearance certificate, copy of passport and medical certificate of fitness for the driver, who must pass a technical test and have comprehensive insurance for 13 months.

It will cost Dh500 to register or renew the two-year registration for a jet ski. Rental companies will pay Dh3,000 per jet ski, and those will also have to pass a technical test, which will include checks for a chassis number, an air filter with a fire trap and a locked-in battery. The propeller must be covered and the steering will be also checked. Once out on the water, jet ski owners are subject to a maximum Dh1,500 fine if they are caught driving rashly or not paying attention to their surroundings.

As part of the safety requirements, jet ski owners are told to respect swimming areas and hotels' beaches and to avoid endangering or irritating other people in or on the water. "We are co-ordinating with Dubai Police and Dubai Coast Guard regarding this issue and we have the operations department who will have inspectors to control all these locations," said Mr al Kitbi. The most high-profile recent accident involved a British television sport presenter, Charlotte Jackson, who broke her nose while jet-skiing in Dubai Marina earlier this year.

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Formula Middle East Calendar (Formula Regional and Formula 4)
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Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
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Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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Moral education needed in a 'rapidly changing world'

Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.

Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.

"Moral education touches on every aspect and subject that children engage in.

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Company: Bidzi

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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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Name: HyperSpace
 
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