Life in perspective


James Langton
  • English
  • Arabic

The death of Sheikh Ahmed bin Zayed was announced when his body was recovered from a lake in Morocco four days after a glider crash. Sheikh Ahmed, 41, was a younger brother of Sheikh Khalifa bin Zayed, the President of the UAE and Ruler of Abu Dhabi. Three days of mourning were announced for Sheikh Ahmed, who was managing director of the Abu Dhabi Investment Authority. Funeral prayers were held at the Sheikh Zayed Mosque, with flags flown at half staff. The sheikh was described as both "humble and charming" by the chairman of the UAE Red Crescent Authority and "a great leader" by Hazza al Qahtani, the director of the Foreign Aid Co-ordination Office. The Moroccan government has said it will conduct a full inquiry into the accident.

Scientists succeeding in creating a series of mini "big bangs" similar to the original explosion believed to have created the universe 13.7 billion years ago. The series of experiments at the Large Hadron Collider near Geneva involved smashing subatomic particles together, close to the speed of light. The energy released was calculated at 7 TeV, or seven million, million volts. The LHC will one day be able to produce an energy double that, as part of the search for dark matter and the elusive Higgs boson, that it is thought gives matter its mass.

Female suicide bombers known as the "black widows" were blamed for explosions on the Moscow Metro that killed at least 51 people and left over 100 badly wounded. Russian security sources said that militant Islamist groups in the North Caucasus region were behind the attack, with reports that there could be another two dozen potential bombers still in the capital. Vladimir Putin, the Russian prime minister, later called on the security forces to "scrape from the sewers" those responsible for the attacks.

An Iranian nuclear scientist, who went missing last year under mysterious circumstances, was reported to have defected to the United States. American media reports claimed that Shahram Amiri, who worked for Iran's Atomic Energy Organisation, had contacted the CIA after going missing last June while on a pilgrimage to Mecca. Last December, Tehran accused Saudi Arabia of handing over the scientist to the Americans. Several weeks after his disappearance, America, Britain and France revealed the existence of a previously unknown uranium enrichment facility.

Dhow owners in Dubai stopped sailings between the UAE and Somalia after pirates seized seven of their vessels in four days. At least 97 Indian crew were taken hostage along with the wooden ships, which carry everything from livestock to televisions and cars. The wooden ships are taken not for ransom, but to use as "mother ships" to launch attacks on bigger vessels. The dhow owners say seizures have reached record levels in recent weeks and hope the embargo will force Somalian businessmen to put pressure on the pirates.

The world's hottest chilli has been discovered growing at a market town in rural England. Scientists say that the Infinity chilli is hotter than the Bhut Jolokia chilli, which is used by the Indian armed forces to immobilise terrorist suspects. Tests carried out at the University of Warwick show that the Infinity, created by crossing existing chillies in a greenhouse, measures 1,067,286 on the Scoville Scale. The Bhut Jolokia measures 1,041,427, compared to a typical jalapeño at around 5,000. Woody Woods, who grows the chilli for his Fire Foods company in Grantham says: "It is like eating red-hot coal."

Nicolas Sarkozy, the president of France, took his own custom-built lectern on an official visit to the United States. The wooden stand was said to have been designed to ensure that the 168cm president did not look too short when he addressed a gathering at Columbia University. Mr Sarkozy was embarrassed last year when it was revealed that he had stood on a footstool next to President Obama during commemorations for the D-Day Landings in Normandy. A French diplomatic source said: "The president was to make sure that he was completely comfortable when making this important speech."

A daring robbery in Paris saw a gang tunnel into the vault of a bank and break open almost 200 private safes. Described as "the crime of the century" in French newspapers, the robbery involved digging through a neighbouring cellar before using pickaxes and a flame-thrower to break down the 80cm-thick vault walls. It took nine hours to empty the private safe deposit boxes, producing a haul of cash, jewellery and other valuable estimated to be worth 25 million euro (Dh124 million).

Some of the worst floods for two centuries devastated communities in the tiny US state of Rhode Island. Around 15 inches of rain fell in three days, leaving thousands of homes and businesses under water and forcing the closure of Interstate 95, the main east coast motorway connecting New York and Boston. President Obama had already declared a state of emergency two weeks ago, after an earlier storm.

The skyline of the London Olympic Games in 2012 will be dominated by a giant shisha pipe. Unveiled by Boris Johnson, the Mayor of London, the official title of the 120-metre tower, designer by Anish Kapoor, is ArcelorMittal Orbit after Lakshmi Mittal, the Indian billionaire, who has donated 1,400 tonnes of steel for the project. Art critics have already compared the tower to a shisha pipe because it features a winding loop rising up a central tube. According to the mayor: "Some may choose to think of it as a Colossus of Stratford, some eyes may detect a giant treble clef, a helter-skelter, a supersized mutant trombone. Some may even see the world's biggest-ever representation of a shisha pipe and call it the Hubble Bubble." jlangton@thenational.ae

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Which honey takes your fancy?

Al Ghaf Honey

The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year

Sidr Honey

The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest

Samar Honey

The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments

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.”

Results
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Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
The biog

Favourite film: Motorcycle Dairies, Monsieur Hulot’s Holiday, Kagemusha

Favourite book: One Hundred Years of Solitude

Holiday destination: Sri Lanka

First car: VW Golf

Proudest achievement: Building Robotics Labs at Khalifa University and King’s College London, Daughters

Driverless cars or drones: Driverless Cars

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

The Word for Woman is Wilderness
Abi Andrews, Serpent’s Tail

Results

Ashraf Ghani 50.64 per cent

Abdullah Abdullah 39.52 per cent

Gulbuddin Hekmatyar 3.85 per cent

Rahmatullah Nabil 1.8 per cent

UAE currency: the story behind the money in your pockets
How Islam's view of posthumous transplant surgery changed

Transplants from the deceased have been carried out in hospitals across the globe for decades, but in some countries in the Middle East, including the UAE, the practise was banned until relatively recently.

Opinion has been divided as to whether organ donations from a deceased person is permissible in Islam.

The body is viewed as sacred, during and after death, thus prohibiting cremation and tattoos.

One school of thought viewed the removal of organs after death as equally impermissible.

That view has largely changed, and among scholars and indeed many in society, to be seen as permissible to save another life.

What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

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Key developments in maritime dispute

2000: Israel withdraws from Lebanon after nearly 30 years without an officially demarcated border. The UN establishes the Blue Line to act as the frontier. 

2007: Lebanon and Cyprus define their respective exclusive economic zones to facilitate oil and gas exploration. Israel uses this to define its EEZ with Cyprus

2011: Lebanon disputes Israeli-proposed line and submits documents to UN showing different EEZ. Cyprus offers to mediate without much progress.

2018: Lebanon signs first offshore oil and gas licencing deal with consortium of France’s Total, Italy’s Eni and Russia’s Novatek.

2018-2019: US seeks to mediate between Israel and Lebanon to prevent clashes over oil and gas resources.

Mina Cup winners

Under 12 – Minerva Academy

Under 14 – Unam Pumas

Under 16 – Fursan Hispania

Under 18 – Madenat

Monster

Directed by: Anthony Mandler

Starring: Kelvin Harrison Jr., John David Washington 

3/5

 

Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

RESULT

Leeds United 1 Manchester City 1
Leeds:
 Rodrigo (59')
Man City: Sterling (17')

Man of the Match: Rodrigo Moreno (Leeds)