Sudden swerving, speeding, tailgating, and lack of road etiquette were among the leading causes of deaths on Dubai roads. Jeffrey E Biteng / The National
Sudden swerving, speeding, tailgating, and lack of road etiquette were among the leading causes of deaths on Dubai roads. Jeffrey E Biteng / The National

Rude and impatient drivers to blame for rise in deaths



DUBAI // More than 110 people were killed in traffic accidents on Dubai’s roads in the first six months of this year – a 45 per cent increase from the same period in 2015.

According to the latest Dubai Police statistics, 112 people died and 1,037 were injured in 1,472 accidents from the beginning of January to the end of June. Last year during the same time there were more accidents – 1,526 – but only 77 were killed.

Brig Saif Al Mazrouei, director of the General Department of Traffic, said sudden swerving, speeding, tailgating, and lack of road etiquette were among the leading causes of deaths on the road. Lack of consideration for other road users led the top four.

“The highest number of fatalities – 27 – was a result of a lack of proper road etiquette, followed by 21 because of tailgating, 14 due to sudden-swerving, and 14 because of speeding,” said Brig Al Mazrouei.

Of the 1,037 people injured this year, 78 were seriously hurt with the rest suffering moderate and minor injuries.

Car crashes, pedestrians being run over and vehicles turning over are so far the most common accidents this year.

Brig Al Mazrouei said 45 people were killed and 695 injured in car crashes, while 29 people were killed and 166 were injured in run-over accidents.

Thirteen people were killed and 71 injured when their vehicles overturned.

The figures do not include the seven people killed when a minibus collided with a lorry on Emirates Road last month. That accident prompted fresh calls from road safety experts to ban small passenger vehicles from the country’s roads.

Also in the first six months of this year, Dubai Police recorded 44 accidents involving minibuses, in which six people died and 76 were injured.

dmoukhallati@thenational.ae

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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.”

What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

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COMPANY PROFILE
Name: Almnssa
Started: August 2020
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Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding