More Emiratis dying on Ras Al Khaimah roads


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RAS AL KHAIMAH // Police fear under age driving has led to more Emiratis being killed on RAK's roads last year than in 2008, despite a fall of 18 per cent in overall fatalities among all nationalities. Police reported 930 traffic accidents last year, which resulted in 80 deaths. Thirty-five victims were Emirati, an increase of 17 per cent on the previous year. There were 97 deaths in 2008, 30 of whom were Emiratis.

Police said the number of nationals dying on the roads could continue to rise unless underage driving among Emiratis was tackled. "It's easy for these children to get the car from their father," said Col Hassan Beraiki, the deputy director of the force's Traffic and Licensing Department. "They do not think it is a problem. But for other nationalities, it's very hard for children to get a car. Their parents won't allow it."

Col Beraiki said raising awareness of the dangers of underage driving among Emiratis was a priority and added that the police "need to talk to the fathers and mothers more". "We have to have monthly meetings and we have to have the fathers and mothers and schools help us. We need public support." Underage drivers were involved in six per cent of road accidents in 2008. Comparable figures are not yet available for last year. The number of severe injuries decreased by 12 per cent last year compared to 2008.

The dangers of underage driving were highlighted last October when two boys from the rural village of Al Ghail, Rashed and Obaid al Mazrooei, aged 15 and 16, were killed in a head-on collision with another vehicle driven by a 16-year-old. In places such as Al Ghail, many parents and older relatives work in Abu Dhabi or Dubai for most of the week, which often means younger boys are relied upon to drive to fetch groceries, for instance.

Following the teenagers' deaths, police launched a series of patrols and talks in schools and youth centres targeting underage driving. At the time, Brig Mohammad Saif al Zafein, the director of the Dubai Police Traffic Department, suggested that the driving age be lowered from 18 to 16, but only if students received 100 hours of professional driving training. As part of the ongoing efforts to curb road deaths, laws enacted 2008 mean drivers caught committing violations, such as speeding, accumulate black points that can lead to temporary confiscation of their driving licence.

"The black point system has now reached the people and they are more aware," said Col Beraiki. "We are treating everyone the same, nationals and non-nationals." @Email:azacharias@thenational.ae

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Founded: 2017

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UAE currency: the story behind the money in your pockets

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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Egypt

Dh514 for citizens; Dh865 for tourists

Information can be found through VFS Global.

Jordan

Dh212

Centres include the Speciality Hospital, which now offers drive-through testing.

Cambodia

Dh478

Travel tests are managed by the Ministry of Health and National Institute of Public Health.

Zanzibar

AED 295

Zanzibar Public Health Emergency Operations Centre, located within the Lumumba Secondary School compound.

Abu Dhabi

Dh85

Abu Dhabi’s Seha has test centres throughout the UAE.

UK

From Dh400

Heathrow Airport now offers drive through and clinic-based testing, starting from Dh400 and up to Dh500 for the PCR test.

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8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
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