UAE authorities have started distributing food packets in Lebanon, India, Jordan, Tajikistan and Kyrgyzstan.
Food parcels containing staples such as flour, rice, oil, sugar, and dates are being given to needy people in these five countries.
The initiative is being organised by Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) and the food drive is being carried out by the Food Banking Regional Network (FBRN) and the Mohammed bin Rashid Al Maktoum Humanitarian and Charity Establishment (MBRCH).
FBRN is distributing long-life food items while MBRCH is distributing food parcels containing basic staples such as flour, rice, oil, sugar and dates to beneficiaries.
Announced last month, One Billion Meals encourages people to donate money to feed those in need. It will run until the target is met.
The campaign aims to help the vulnerable in 50 countries, supporting efforts to achieve the UN's Sustainable Development Goal 2 to end hunger by 2030.
The initiative will give people the basic ingredients needed to prepare nutritious meals or instant e-vouchers for food supplies in co-operation with local authorities in beneficiary countries.
The One Billion Meals initiative is an extension of the 100 Million Meals campaign, which was launched during Ramadan 2021. At the time, it successfully distributed 220 million meals across 47 nations – double its initial target – with the participation of Mohammed bin Rashid Al Maktoum Humanitarian and Charity Establishment teams.
Last year's 100 Million Meals campaign provided food parcels and vouchers to millions across four continents, including Palestine, Lebanon, Jordan, Sudan, Yemen, Tunisia, Iraq, Egypt, Kosovo, Brazil, Benin, Burundi, Tanzania, Ethiopia, Senegal, Kenya, Uganda, Ghana, Angola, Sierra Leone, India, Nepal, Pakistan, Bangladesh, Tajikistan, Kyrgyzstan, Uzbekistan and Kazakhstan.
How to donate
The One Billion Meals campaign website has details of several options for donors.
Money can be pledged online, either monthly or by a one-off donation. People can donate by SMS message through Etisalat or du, or money can be sent via bank transfer.
For big monetary donations and related enquiries, people can contact the campaign’s team on 800 9999.
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Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.
Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.
Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.
Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.
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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.”
