Motorists should be wary of bad weather that is expected to cover the UAE in the coming couple of months. Sarah Dea / The National
Motorists should be wary of bad weather that is expected to cover the UAE in the coming couple of months. Sarah Dea / The National
Motorists should be wary of bad weather that is expected to cover the UAE in the coming couple of months. Sarah Dea / The National
Motorists should be wary of bad weather that is expected to cover the UAE in the coming couple of months. Sarah Dea / The National

Motorists urged to stay safe amid potential fog and rain


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  • Arabic

Motorists have been urged to exercise more caution when driving in adverse weather conditions, such as fog and rain.
The Dubai Roads and Transport Authority (RTA) cautioned on Thursday against speeding and not leaving enough distance between vehicles.
Motorists should be more attentive during the season because of an increased likelihood of traffic accidents due to rain and fog, said Maitha bin Udai, chief executive of the RTA.
The authority is ready to start an awareness campaign about safe driving in these conditions.
"It is very crucial for drivers to leave extra distance from vehicles in front of them," Ms bin Udai said.
"Drivers must not be distracted by mobile phones, and the vehicle's windows, glass and mirrors have to be clean."
Motorists should not exceed the speed limit, she said.
RTA will use social media, monitors at customer-service centres, cashiers' screens at malls, advertising at petrol stations and websites to spread awareness, Ms bin Udai said. The messages will be in Arabic and English.
Leaflets will also be distributed to truck drivers in Al Awir, Jebel Ali and RTA service centres, educating motorists about how to drive in rainy conditions.
Driving over the speed limit during winter leads to "surprises" that motorists cannot avoid in time because they have poor control of the vehicle, Ms bin Udai said.
"Needless to say that wet or soaked roads contribute to vehicles skidding when the brake is suddenly applied."
Motorists should have vehicles inspected and maintained, especially with lighting bulbs, wipers, tyres and brakes.
They should slow down, leave enough space between vehicles and always expect traffic flow to stop at any time, RTA said.
Poor visibility amid heavy fog led to a pile-up of more than 200 vehicles near Ghantoot in March 2008 that became known as Fog Tuesday. Four people died, 350 were injured and 20 cars caught fire.
According to the Ministry of Interior, there were 463 road deaths in the first eight months of 2014, compared with 464 in 2013. The figure is down from 956 in 2010, an estimated rate of 12.7 per population of 100,000.
The UN General Assembly has named 2011 to 2020 the Decade of Action for Road Safety to combat traffic fatalities worldwide.
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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.”

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