Row over unpaid bar bill lands six in Dubai court



DUBAI // A row over an unpaid bar bill has landed six people in court on charges of assault, issuing insults and consuming alcohol without a licence.

Records showed that on October 23, four Ethiopian security guards at the Regal Plaza hotel in Bur Dubai assaulted two Britons for allegedly failing to pay their bill. Two customers, A N, 38, and C T, 46, allegedly insulted the guards.

“I was with A N and a second friend, who paid the bill for the alcohol we drank then left the place,” said C T. He noted that after his friend had paid and left, a waiter brought over another bottle of alcohol.

“We told him we didn’t want it, but he left it anyway. Then I can’t really remember if we had it or not, but when we were about to leave the place we were stopped until I paid for that bottle.

“I didn’t have cash on me and told them I can leave my phone as a guarantee and whatever cash I had in my wallet.”

C T said he did not know what happened about the bill, but remembered being taken into a small room and being assaulted by a number of men.

A N testified that they had been asked to pay the bill. When they could not they were asked to talk to the manager outside. “There were four guards with the manager and suddenly they threw us from the stairs and assaulted C T,” he said.

A medical report showed C T had suffered bruises and fractured ribs.

The security guards told a different story, claiming that A N and C T had refused to pay their bill and started making a fuss.

“When we went to calm them down they insulted us, calling us ‘animal Africans’. They also mentioned my mother in an insulting remark. One of them ran outside and fell off the stairs, injuring himself,” E A, 34, said.

The guards were accused of assault and the two Britons accused of issuing insults. Once at the police station, however, each side dropped the case against the other.

C T and A N were then referred to the Dubai Court of Misdemeanours on charges of consuming alcohol without a licence, where they were convicted and fined Dh1,000 each.

salamir@thenational.ae

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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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