RAS AL KHAIMAH // Umm Moukheet prefers a tent to a house and the seat of her 4x4 to a couch. That’s just as well, because she is almost always on the move.
She is one of the women who follow the camel racing circuit around the Gulf in the winter, selling food, perfume and camel tack to those racing and watching.
“Old women don’t like to sit in the house,” said Umm Moukheet, a mother in her 50s from Dubai. “If I sit in the house I’ll be very bored. This life is very healthy and if you sleep in the house you’ll be sick.”
She has followed the circuit for 30 years and relocates her hibiscus-patterned tent each time the race moves to a new festival in a new city. The schedule takes her and her colleagues from RAK through Abu Dhabi, Dubai, Ajman and Umm al Qaiwain. They will be at Abu Dhabi’s al Wathbah track this week before heading to Qatar for the end of the season.
Umm Moukheet began camping at the makeshift souq beside the track after her husband’s death. She works with three Bangladeshi men who serve coffee, tea, dumplings and bread to customers and friends. Her trackside job, which helps keep her busy in her retirement, is in fact a return to her Bedouin youth when she joined races at weddings with her parents.
While her daughters prefer riding horses to camels, Umm Moukheet thinks there is no happier life than one that follows the humped beast of the desert.
“I like this travel,” she said. “I got my licence two years ago but I’ve been driving for 28 years. We are Bedu so we started this life from when we were young. When you see camels, we come.”
While Umm Moukheet travels the camel circuit for fun, for many of her colleagues the business is their family’s main income. Most come from the south-east coast of Oman to sell colourful camel tack, much of which has a high bling factor. Their husbands survive as fishermen.
The Omani women are a contrast to the dusty beige of their surroundings, doing business in loose gowns in vibrant shades of amber, crimson, lilac and sapphire blue. Under their shining burqas their faces are painted with heavy white make-up and their eyes are lined with kohl. Older women have dotted tattoos on their chins and arms.
The women travel with their children, sleeping in musky tents and bundling up under blankets to protect themselves from the cold desert nights.
“This is our business, this is the life for my sons,” said Ghariba Mohammed, 45, a mother of nine. “We want money, we want to eat and live.”
Her four daughters continue the work that she learnt when she was 20. She travels with her grown sons, nephews, their wives and a pack of grandchildren.
The wares on offer are as colourful as the women selling them. They use ghaf tree bark to stain grey and white yarn into brilliant reds and deep oranges. Saffron and a plant called wars give hues of yellow and orange, and threads from India and China give the handicrafts an extra pop of navy blue, hot pink and fuchsia.
The labour can be intensive. It takes about 150 hours to make an 80x30cm blanket. A five-square-metre blanket, which takes several weeks to make, sells for Dh1,000.
Key chains, tablecloths and decorative household goods have replaced camel paraphernalia as the most popular items. Only a handful of the hundreds who attend the races make their way to the tented souq to seek more expensive items. The day’s take is sometimes just Dh100, Mrs Mohammed said.
While the life can be hard, government support and the patronage of sheikhs ensure the tradition continues to attract newcomers.
Sheikh Hamdan bin Mohammed, the Crown Prince of Dubai, is known to be generous to those near the track when his camels win. RAK Municipality provides women with water and fruit when they visit the emirate and the Marmun track in Dubai has its own tents for the women, with police security to watch over them.
One newcomer is Muna al Shamsi, 30, a perfume merchant of 10 years who lives on government support in Fujairah. She steers her wheelchair through the dust of the camel track’s paths, shouting greetings and bidding people to stop at her tent for perfume. She is accompanied by Samira Muligita, an Ethiopian who helps her prepare cardamom tea that is served on a fake gold tray.
“All people know me, they like me, they ask for me,” said Ms al Shamsi. “I love Ras al Khaimah and for sure I will return.”
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Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
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The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
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The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
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Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
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Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
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Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
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At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
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Biog
Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
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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.”