The Flame of Hope torch tour reached Ajman on Thursday. Reem Mohammed/The National
The Flame of Hope torch tour reached Ajman on Thursday. Reem Mohammed/The National
The Flame of Hope torch tour reached Ajman on Thursday. Reem Mohammed/The National
The Flame of Hope torch tour reached Ajman on Thursday. Reem Mohammed/The National

Special Olympian tells of golden dreams as Flame of Hope reaches Ajman


Salam Al Amir
  • English
  • Arabic

A Special Olympics athlete vowed to be brave in his bid for victory as the Flame of Hope torch tour stopped off in Ajman on its journey across the Emirates.

Zechariah Tietz, who is representing the United States, was one of the runners carrying the Olympic torch through the emirate ahead of the start of the Games in Abu Dhabi next Thursday.

He offered words of motivation, echoed by his fellow torchbearers, as crowds assembled to welcome the iconic flame.

The runners set off from the Ajman flagpole at 9am on Thursday, arriving in the Al Zorah district of the emirate 90 minutes later, where they were greeted by a Palestinian band playing traditional dabke music.

Crowds cheered on as the Special Olympian spoke of his desire to do his country proud.

“The most famous words that most definitely define me and define the rest of the athletes and that I hold near and dear to my heart are ‘let me win but if I cannot win let me be brave in the attempt’,” said Mr Tietz.

Juwaidan Sayyed, an activities co-ordinator at Ajman Private School, was in attendance as the ceremony took place.

Ms Sayyed said she made sure children at her school were aware of the significance of the Special Olympics World Games being brought to the Middle East for the first time.

“It was my main goal that they know what they are going to see and how important it is not to look differently at people with determination and to treat them like who they are, equals,” said Ms Juwaidan.

After the torch was lit the ceremony turned into a celebration of unity.

The Olympic torch tour in Ajman hit the right note with a performance by a Palestinian band. Reem Mohammed/The National
The Olympic torch tour in Ajman hit the right note with a performance by a Palestinian band. Reem Mohammed/The National

Members of the public attending the event joined hands with the runners as they danced to the Palestinian music.

The band's leader was delighted with the response to their performance.
"I didn't expect that I would be moved and encouraged to support such an event before now and even spread the word around," said Zyad Iskandarani.

The torch runners toured attractions such as Ajman Castle, Ajman Corniche and Ajman Museum, ahead of the final ceremony at Ajman Marina.

Before reaching its final destination at the opening ceremony of the Games in Abu Dhabi next Thursday, the flame will move on to Sharjah on Friday where it will be carried to attractions such as Sharjah Heritage Museum, Al Noor Island, Al Majaz waterfront and the flag Island.

The Games will feature more than 7,500 athletes representing 192 countries and will be the biggest in the 51 year history of the event.

TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
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Another way to earn air miles

In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.

An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.

“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.

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.”

WISH
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The%20specs
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The specs: 2018 Genesis G70

Price, base / as tested: Dh155,000 / Dh205,000

Engine: 3.3-litre, turbocharged V6

Gearbox: Eight-speed automatic

Power: 370hp @ 6,000rpm

Torque: 510Nm @ 1,300rpm

Fuel economy, combined: 10.6L / 100km

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