AD200910908259995AR
AD200910908259995AR

Three meals, sweet dreams



Many people keep telling me: "So you guys fast and have iftar. Sure, we hear about suhoor, but that's still just two meals, and that can't be healthy." But who said we have only one or two meals? The Prophet Mohammed actually advised us to eat three meals just like a normal day. We are supposed to be modest at our iftar, not stuff ourselves until we can't breathe. Then we should have space for the second meal, which is like our regular dinner the rest of the year. The third meal is the suhoor. We know if we don't have a proper suhoor, our blood pressure might drop, which isn't a great idea when it's this hot. Many Muslims forget that suhoor is supposed to be taken sometime before imsak, just an hour or half an hour before we fast, and not at midnight, as that's a long time to go without water or food. The Prophet Mohammed said suhoor has baraka (blessings), and he encouraged it. If you are devoted to Islam you should have no difficulty going to sleep at midnight and waking up early in the morning, around 2.30am or 3am to have suhoor. It could be the iftar leftovers or anything light, but just have something. Your stomach will thank you and your energy will be boosted for the day. Not to mention how amazing it is when your mother and father and brothers and sisters all wake to share a meal and wish each other a good day of fasting and sweet dreams. Anyone up for a suhoor meal with me?

Imsak is the period when we are not supposed to ingest food or drink, but it doesn't begin at sunrise as some people assume. The Prophet Mohammed recommended fasters eat suhoor close to imsak, so that fasting is not a burden on the body, but to stop about 10 minutes before the call to the fajr (dawn) prayer. This amount of time equals the time it would take to read 50 verses of the Quran, which is what the Prophet Mohammed did between suhoor and fajr, according to Zaid ibn Thabit, his personal scribe. This is not a requirement, but rather a recommendation or sunnah, based on what the Prophet did. If a person is doubtful whether imsak has begun, he should refrain from eating or drinking if he intends to fast that day. The exact timing is also available below, in this wonderful newspaper's Ramadan corner. The word imsak, by the way, is derived from the word "mask", which means to hold something, embrace it tightly or refrain from it, as in to hold your anger.

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.”

What is the Supreme Petroleum Council?

The Abu Dhabi Supreme Petroleum Council was established in 1988 and is the highest governing body in Abu Dhabi’s oil and gas industry. The council formulates, oversees and executes the emirate’s petroleum-related policies. It also approves the allocation of capital spending across state-owned Adnoc’s upstream, downstream and midstream operations and functions as the company’s board of directors. The SPC’s mandate is also required for auctioning oil and gas concessions in Abu Dhabi and for awarding blocks to international oil companies. The council is chaired by Sheikh Khalifa, the President and Ruler of Abu Dhabi while Sheikh Mohamed bin Zayed, Abu Dhabi’s Crown Prince and Deputy Supreme Commander of the Armed Forces, is the vice chairman.

Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
  • Drones
  • Animals
  • Fireworks/ flares
  • Radios or power banks
  • Laser pointers
  • Glass
  • Selfie sticks/ umbrellas
  • Sharp objects
  • Political flags or banners
  • Bikes, skateboards or scooters
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