Man dies as northern roads are flooded


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Thunderstorms flooded roads in the Northern Emirates yesterday as temperatures dropped to freezing in mountainous areas. Heavy rain struck Ajman, Sharjah, Umm al Qaiwain and Ras al Khaimah overnight, with lighter showers affecting Abu Dhabi and Dubai. Temperatures fell as low as -1C in the mountains of Ras al Khaimah. One man died and several were injured when a car was swept away in the Wadi Ghalila valley, WAM, the state news agency, said.

Traffic slowed to a standstill in Ajman and Sharjah, with vehicles finding going particularly difficult at the National Paints Roundabout on Emirates Road in Sharjah. Ninety water collection tanks recently installed to cope with winter downpours helped to ease flooding. "We are putting more attention on to notorious water-logging streets like Sharjah International Airport Road, Emirates Road and most of the industrial area roads," said Sultan al Mualla, the director general of Sharjah Municipality.

He said about 70 employees worked with other services, including the police and civil defence, to keep traffic disruption to a minimum. In other areas of Sharjah, taxi drivers used large puddles as washing bays. At the Al Jazeera car park on Al Khan road, more than 10 taxis were given an impromptu wash in a large puddle. One driver said it was to avoid paying fees at the car wash, which his company refused to pay.

"I often wash my taxi once every week, but with the mud it needs a wash every day and the company would give me a Dh500 (US$136) fine in case the car is not clean," he said. Zubair Ahmed, a 35-year-old Sudanese resident of Butina, said: "It's really nice to get this sort of rain for a few days in the UAE. It does cause chaos in traffic when it floods. However, the weather is pleasant." Hail, heavy rain and thundershowers in the early morning left streets flooded in the Nakheel, Khuzam and Julan areas of Ras al Khaimah.

Motorists had to drive slowly in a single lane on main roads. Residents in areas without paved roads suffered the most. Some were unable to drive to their houses because of deep puddles. Several motorists were forced to get out and push their cars through the water, and many vehicles ended up parked near the E311 after water caused their engines to stall. @Email:ykakande@thenational.ae azacharias@thenational.ae

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

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COMPANY%20PROFILE
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Indoor Cricket World Cup

Venue Insportz, Dubai, September 16-23

UAE squad Saqib Nazir (captain), Aaqib Malik, Fahad Al Hashmi, Isuru Umesh, Nadir Hussain, Sachin Talwar, Nashwan Nasir, Prashath Kumara, Ramveer Rai, Sameer Nayyak, Umar Shah, Vikrant Shetty

Poland Statement
All people fleeing from Ukraine before the armed conflict are allowed to enter Poland. Our country shelters every person whose life is in danger - regardless of their nationality.

The dominant group of refugees in Poland are citizens of Ukraine, but among the people checked by the Border Guard are also citizens of the USA, Nigeria, India, Georgia and other countries.

All persons admitted to Poland are verified by the Border Guard. In relation to those who are in doubt, e.g. do not have documents, Border Guard officers apply appropriate checking procedures.

No person who has received refuge in Poland will be sent back to a country torn by war.

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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.”

The biog

Hobby: Playing piano and drawing patterns

Best book: Awaken the Giant Within by Tony Robbins

Food of choice: Sushi  

Favourite colour: Orange

Tips to stay safe during hot weather
  • Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
  • Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
  • Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
  • Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
  • Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
  • Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
  • Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
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Scores in brief:

Day 1

New Zealand (1st innings) 153 all out (66.3 overs) - Williamson 63, Nicholls 28, Yasir 3-54, Haris 2-11, Abbas 2-13, Hasan 2-38

Pakistan (1st innings) 59-2 (23 overs)

SPECS

Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
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AndhaDhun

Director: Sriram Raghavan

Producer: Matchbox Pictures, Viacom18

Cast: Ayushmann Khurrana, Tabu, Radhika Apte, Anil Dhawan

Rating: 3.5/5