• A self-driving car operated by California start-up Zoox. The company began to test its technology on public roads in Las Vegas in 2019. Reuters
    A self-driving car operated by California start-up Zoox. The company began to test its technology on public roads in Las Vegas in 2019. Reuters
  • W Motors chairman and chief executive Ralph Debbas in the company's self-driving prototype. The company was founded in 2012 but became famous after one of its vehicles, the Lykan HyperSport, was featured in the 2015 film 'Furious 7'. Victor Besa / The National
    W Motors chairman and chief executive Ralph Debbas in the company's self-driving prototype. The company was founded in 2012 but became famous after one of its vehicles, the Lykan HyperSport, was featured in the 2015 film 'Furious 7'. Victor Besa / The National
  • The W Motors self-driving vehicle prototype, on display at the International Defence Exhibition and Conference in Abu Dhabi in 2019. Victor Besa / The National.
    The W Motors self-driving vehicle prototype, on display at the International Defence Exhibition and Conference in Abu Dhabi in 2019. Victor Besa / The National.
  • Cruise, the self-driving vehicle company backed by General Motors and Honda, will launch its first international robotaxi service outside the US in Dubai in 2023. Cruise
    Cruise, the self-driving vehicle company backed by General Motors and Honda, will launch its first international robotaxi service outside the US in Dubai in 2023. Cruise
  • A driverless Cruise vehicle at the Detroit Motor Show. The company is stationing five self-driving cars in San Francisco as it looks to develop a robot taxi service. AP
    A driverless Cruise vehicle at the Detroit Motor Show. The company is stationing five self-driving cars in San Francisco as it looks to develop a robot taxi service. AP
  • The 10-seater smart driverless car tested by the Roads and Transport Authority in Business Bay, Dubai. Courtesy RTA.
    The 10-seater smart driverless car tested by the Roads and Transport Authority in Business Bay, Dubai. Courtesy RTA.
  • Ajman's first self-driving bus went on goes on its first official drive in November 2021, with Sheikh Rashid bin Humaid Al Nuaimi, director of Ajman Municipality and Planning Department and UAE's Minister of Artificial Intelligence, Omar bin Sultan Al Olama, onboard.
    Ajman's first self-driving bus went on goes on its first official drive in November 2021, with Sheikh Rashid bin Humaid Al Nuaimi, director of Ajman Municipality and Planning Department and UAE's Minister of Artificial Intelligence, Omar bin Sultan Al Olama, onboard.
  • A Zoox robot taxi. The vehicle is loaded with sensors, has no steering wheel and is capable of transporting four people at up to 120 kilometres per hour. Photo: Zoox
    A Zoox robot taxi. The vehicle is loaded with sensors, has no steering wheel and is capable of transporting four people at up to 120 kilometres per hour. Photo: Zoox
  • A self-driving car operated by Pittsburgh start-up Argo AI in New York. The company is working with Lyft and Ford to commercialise driverless ride-hailing services at scale. AFP
    A self-driving car operated by Pittsburgh start-up Argo AI in New York. The company is working with Lyft and Ford to commercialise driverless ride-hailing services at scale. AFP
  • Volvo's self-driving 360c concept car, which was first announced in 2018 and can function as a mobile office or transform into a sleeping area. Volvo says the 360c will create demand for inter-city taxi passengers travelling as far as 300km. Photo: Volvo
    Volvo's self-driving 360c concept car, which was first announced in 2018 and can function as a mobile office or transform into a sleeping area. Volvo says the 360c will create demand for inter-city taxi passengers travelling as far as 300km. Photo: Volvo

What you need to know about self-driving cars


Patrick Ryan
  • English
  • Arabic

Self-driving cars might seem like something out of a science fiction movie but they are closer to becoming a reality than you might think.

The recent announcement that self-driving taxis will be tested in Abu Dhabi, after Dubai granted permission for licences to try out automated vehicles, means we are closer than ever to seeing driverless cars on the UAE's roads.

The National takes a look at how we are on the verge of embracing the new technology and why we should be excited.

Proper infrastructure is needed first

Semi-autonomous cars, which drive themselves albeit with a human in command behind the steering wheel, could soon become a fixture on Emirati roads and motorways.

“We could have self-driving cars on the roads right now as the technology is there,” said Adam Whitnall, chief executive of car comparison site Drive Ninja.

“The caveat is we are at the level of advancement where human supervision is still required. There still needs to be someone sitting in the driver seat, being alert at all times and ready to assume control of the vehicle.”

We are at the level of advancement where human supervision is still required
Adam Whitnall,
car comparison site Drive Ninja

The issue is not around the cars or the technology, it is a matter of having the right infrastructure in place, Mr Whitnall said.

“When you have well-defined lanes and clearly marked barriers and signs it’s not so much of an issue,” he said.

“However, once you go on to roads where the markings are not so clear, it becomes more of a challenge.

‘Without that guidance, the onboard cameras and sensors can struggle, so it’s a question of getting the road infrastructure in place. We’re going to probably see a hybrid approach at first where cars only drive autonomously on some roads.”

The UAE’s road network is better placed than most though to adapt to the change, he added.

Interacting with other cars that do not have the same technology is also a significant hurdle, Mr Whitnall said.

“How does an autonomous car communicate with one that’s 20 years old with more primitive technology onboard?” he said.

“That’s going to be a huge challenge. We are not going to get to the stage where cars drive themselves without any human supervision until all vehicles are able to communicate with each other.

“There is also the issue of people actually being able to afford to buy cars that have this kind of capacity as well.”

  • An Argo AI self-driving test car, from the autonomous vehicle start-up in Pittsburgh, is parked outside a joint press conference held by Ford and Volkswagen in New York City. AFP
    An Argo AI self-driving test car, from the autonomous vehicle start-up in Pittsburgh, is parked outside a joint press conference held by Ford and Volkswagen in New York City. AFP
  • A Waymo self-driving vehicle pulls into the car park at the Google-owned company's headquarters in Mountain View, California. AFP
    A Waymo self-driving vehicle pulls into the car park at the Google-owned company's headquarters in Mountain View, California. AFP
  • A Zoox Inc. self-driving car is operated outside the company's headquarters in Foster City, California. Bloomberg
    A Zoox Inc. self-driving car is operated outside the company's headquarters in Foster City, California. Bloomberg
  • A Jaguar I Pace autonomous vehicle takes people on a drive during the Dubai World Congress for Self-Driving Transport. Chris Whiteoak / The National
    A Jaguar I Pace autonomous vehicle takes people on a drive during the Dubai World Congress for Self-Driving Transport. Chris Whiteoak / The National
  • One of Fords autonomous-vehicle partner Argo AI's cars is displayed after a press conference in New York City. AFP
    One of Fords autonomous-vehicle partner Argo AI's cars is displayed after a press conference in New York City. AFP
  • An Uber car equipped with cameras and sensors drives the streets of Washington. AFP
    An Uber car equipped with cameras and sensors drives the streets of Washington. AFP
  • A self-driving car developed by Didi, a Chinese company providing app-based transport services, is put through a road test in Jiading district, Shanghai. Reuters
    A self-driving car developed by Didi, a Chinese company providing app-based transport services, is put through a road test in Jiading district, Shanghai. Reuters
  • A Hyundai autonomous car is tested in Irvine, California. AFP
    A Hyundai autonomous car is tested in Irvine, California. AFP
  • A 10-seater smart driverless car is tested by the Roads and Transport Authority, in Business Bay, Dubai. Photo: RTA
    A 10-seater smart driverless car is tested by the Roads and Transport Authority, in Business Bay, Dubai. Photo: RTA
  • Autonomous self-driving vehicle testing in a pedestrianised zone at a media event in Milton Keynes, north of London. AFP
    Autonomous self-driving vehicle testing in a pedestrianised zone at a media event in Milton Keynes, north of London. AFP

When can we let the car fully drive itself?

The thought of going to sleep in the back seat or catching up with emails while the car’s computer takes care of the driving is an attractive one.

It is also not going to happen anytime soon, according to Mr Whitnall.

“We’re still at least a decade away,” he said.

“We are going to get there quickly in terms of the cars themselves but it’s everything else, like the roads and other cars that can’t communicate via the internet that will hold it up.”

Another major concern for regulators is handing complete control of decision-making to an artificial intelligence, which could have serious repercussions in the event of an accident.

“If you’re driving a car and someone walks out in front of you the decision of what to do is made by you,” he said.

“But there is a conundrum for the tech side about what to do in those instances when the car is driving itself and who is responsible in the event of a death.

“That’s a big problem that hasn’t been overcome yet.”

The robotaxi service in Dubai will use the Cruise Origin, an all-electric shuttle unveiled in January last year. Photo: Cruise
The robotaxi service in Dubai will use the Cruise Origin, an all-electric shuttle unveiled in January last year. Photo: Cruise

When will we see driverless cars in the UAE?

Ajman launched a self-driving shuttle bus in the emirate recently, and Abu Dhabi is testing autonomous taxis on Yas Island.

Trials are currently taking place in Dubai, with plans to have as many as 4,000 driverless vehicles on the emirate's roads by 2030.

"The Roads and Transport Authority has conducted several trials across the city," said Ahmed Bahrozyan, chief executive of the Public Transport Agency for Dubai's RTA.

"Earlier this year, we have announced a major deal with GM Cruise to deploy 4,000 robotaxis in Dubai, which is expected to be launched in 2023."

The next step, he said, would be the comprehensive legislation of operating self-driving cars which would be "issued soon".

He said the technology would be gradually introduced until it became a normal way of life on the emirate's roads.

"The safety of the self-driving vehicle passengers and vulnerable roads users is a top priority for RTA," Mr Bahrozyan said.

"Although the designated lanes provide a higher level of safety, as the technology becomes more mature over time, the need for designated lanes will become obsolete."

How long have driverless cars been about?

The answer is a lot longer than you might first think. In 1977, Japanese firm Tsukuba Mechanical created a driverless car that could reach 32 kilometres an hour by tracing white street markers on two vehicle-mounted cameras.

Are self-driving cars already on the roads anywhere else?

In the US there is estimated to be more than 1,400 autonomous cars in use.

This has not been without controversy. Earlier this year, a Tesla car in Houston, Texas was reported to have driven itself into a tree, killing two people.

The UK government approved the use of self-driving vehicles at slow speeds on its motorways in April, using sensors and software to make sure the cars were kept within the correct lanes.

What is the fastest speed recorded by a self-driving car?

That accolade belongs to London car manufacturer Roborace that created an autonomous vehicle that clocked more than 280kph in 2019, receiving official recognition from the Guinness Book of World Records in the process.

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EQureos%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EUAE%0D%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%20%3C%2Fstrong%3E2021%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E33%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3ESoftware%20and%20technology%0D%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%243%20million%0D%3Cbr%3E%3C%2Fp%3E%0A
Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Company%20profile
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RESULTS

Welterweight

Tohir Zhuraev (TJK) beat Mostafa Radi (PAL)

(Unanimous points decision)

Catchweight 75kg

Anas Siraj Mounir (MAR) beat Leandro Martins (BRA)

(Second round knockout)

Flyweight (female)

Manon Fiorot (FRA) beat Corinne Laframboise (CAN)

(RSC in third round)

Featherweight

Bogdan Kirilenko (UZB) beat Ahmed Al Darmaki

(Disqualification)

Lightweight

Izzedine Al Derabani (JOR) beat Rey Nacionales (PHI)

(Unanimous points)

Featherweight

Yousef Al Housani (UAE) beat Mohamed Fargan (IND)

(TKO first round)

Catchweight 69kg

Jung Han-gook (KOR) beat Max Lima (BRA)

(First round submission by foot-lock)

Catchweight 71kg

Usman Nurmogamedov (RUS) beat Jerry Kvarnstrom (FIN)

(TKO round 1).

Featherweight title (5 rounds)

Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)

(TKO round 1).

Lightweight title (5 rounds)

Bruno Machado (BRA) beat Mike Santiago (USA)

(RSC round 2).

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street

The seven points are:

Shakhbout bin Sultan Street

Dhafeer Street

Hadbat Al Ghubainah Street (outbound)

Salama bint Butti Street

Al Dhafra Street

Rabdan Street

Umm Yifina Street exit (inbound)

SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2A)
%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%206.7-inch%20flexible%20Amoled%2C%202%2C412%20x%201%2C080%2C%20394ppi%2C%20120Hz%2C%20Corning%20Gorilla%20Glass%205%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20MediaTek%20Dimensity%207%2C200%20Pro%2C%204nm%2C%20octa-core%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F12GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECapacity%3A%3C%2Fstrong%3E%20128%2F256GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPlatform%3A%3C%2Fstrong%3E%20Android%2014%2C%20Nothing%20OS%202.5%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20camera%3A%3C%2Fstrong%3E%20Dual%2050MP%20main%2C%20f%2F1.88%20%2B%2050MP%20ultra-wide%2C%20f%2F2.2%3B%20OIS%2C%20EIS%2C%20auto-focus%2C%20ultra%20XDR%2C%20night%20mode%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20camera%20video%3A%3C%2Fstrong%3E%204K%20%40%2030fps%2C%20full-HD%20%40%2060fps%3B%20slo-mo%20full-HD%20at%20120fps%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFront%20camera%3A%3C%2Fstrong%3E%2032MP%20wide%2C%20f%2F2.2%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%205%2C000mAh%3B%2050%25%20in%2030%20minutes%20with%2045-watt%20charger%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%2C%20Bluetooth%205.3%2C%20NFC%20(Google%20Pay)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBiometrics%3A%3C%2Fstrong%3E%20Fingerprint%2C%20face%20unlock%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20USB-C%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDurability%3A%3C%2Fstrong%3E%20IP54%2C%20limited%20protection%20from%20water%2Fdust%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECards%3A%3C%2Fstrong%3E%20Dual-nano%20SIM%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Black%2C%20milk%2C%20white%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20Nothing%20Phone%20(2a)%2C%20USB-C-to-USB-C%20cable%2C%20pre-applied%20screen%20protector%2C%20Sim%20tray%20ejector%20tool%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%20(UAE)%3A%3C%2Fstrong%3E%20Dh1%2C199%20(8GB%2F128GB)%20%2F%20Dh1%2C399%20(12GB%2F256GB)%3C%2Fp%3E%0A
Company%20Profile
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What went into the film

25 visual effects (VFX) studios

2,150 VFX shots in a film with 2,500 shots

1,000 VFX artists

3,000 technicians

10 Concept artists, 25 3D designers

New sound technology, named 4D SRL

 

THE SIXTH SENSE

Starring: Bruce Willis, Toni Collette, Hayley Joel Osment

Director: M. Night Shyamalan

Rating: 5/5

In the Restaurant: Society in Four Courses
Christoph Ribbat
Translated by Jamie Searle Romanelli
Pushkin Press 

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
The years Ramadan fell in May

1987

1954

1921

1888

Zodi%20%26%20Tehu%3A%20Princes%20Of%20The%20Desert
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EEric%20Barbier%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EYoussef%20Hajdi%2C%20Nadia%20Benzakour%2C%20Yasser%20Drief%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Director: Venkat Prabhu
Rating: 2/5
Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Salah in numbers

€39 million: Liverpool agreed a fee, including add-ons, in the region of 39m (nearly Dh176m) to sign Salah from Roma last year. The exchange rate at the time meant that cost the Reds £34.3m - a bargain given his performances since.

13: The 25-year-old player was not a complete stranger to the Premier League when he arrived at Liverpool this summer. However, during his previous stint at Chelsea, he made just 13 Premier League appearances, seven of which were off the bench, and scored only twice.

57: It was in the 57th minute of his Liverpool bow when Salah opened his account for the Reds in the 3-3 draw with Watford back in August. The Egyptian prodded the ball over the line from close range after latching onto Roberto Firmino's attempted lob.

7: Salah's best scoring streak of the season occurred between an FA Cup tie against West Brom on January 27 and a Premier League win over Newcastle on March 3. He scored for seven games running in all competitions and struck twice against Tottenham.

3: This season Salah became the first player in Premier League history to win the player of the month award three times during a term. He was voted as the division's best player in November, February and March.

40: Salah joined Roger Hunt and Ian Rush as the only players in Liverpool's history to have scored 40 times in a single season when he headed home against Bournemouth at Anfield earlier this month.

30: The goal against Bournemouth ensured the Egyptian achieved another milestone in becoming the first African player to score 30 times across one Premier League campaign.

8: As well as his fine form in England, Salah has also scored eight times in the tournament phase of this season's Champions League. Only Real Madrid's Cristiano Ronaldo, with 15 to his credit, has found the net more often in the group stages and knockout rounds of Europe's premier club competition.

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.”

UAE SQUAD

Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani

Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Salem Rashid, Mohammed Al Attas, Alhassan Saleh

Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Yahya Nader, Ahmed Barman, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah, Yahya Al Ghassani

Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Updated: November 30, 2021, 8:24 AM