Transport

Speed limit reduction on dangerous Sharjah roads welcomed

More than 3,000 speeding violations on Mleiha Road in one month last year and 30 deaths in 2015.

Thaer Zriqat

January 02, 2017

SHARJAH // Road-safety experts and residents have welcomed the reduction in speed limits on two roads in the emirate and they hope the move will help to save lives.

In recent weeks, the speed limit was lowered from 120kph to 100kph for a stretch of Mleiha Road, particularly the section between Al Badea Bridge and the Sheikh Khalifa Road exit, and Al Quta-Nazwa Road after more than 3,000 speeding offences were recorded in one weekend last month.

Thirty deaths occurred on Mleiha Road in 2015, making the road that connects Sharjah city with the central and eastern region the emirate’s deadliest that year. Last month, 15 motorists were caught driving at more than 150kph on the road.

Alaulddin Dawood, deputy chief executive of the National Traffic Safety Institute, said lowering the speed limit would help to curb fatalities.

“Motorists on long roads tend to speed and lose focus while driving. Using their mobile phone, or talking, are some of the main reasons for these tragic accidents,” said Mr Dawood.

“It’s their responsibility to drive carefully and safely to ensure they arrive at their destinations safe and sound. They should be vigilant and wary on the road, abide by traffic laws and speed limits.”

Last year, 130 people died on Sharjah’s roads, down from 157 deaths in 2015, statistics from Sharjah Police showed.

Emirati Yaqoub Al Hamadi, a resident of Al Qarayen, which is near Mleiha Road, welcomed the reduction of the speed limit.

“Some parts of this road are notorious for accidents and young men driving recklessly. This will help in catching more offenders and ensure the safety of other motorists,” said the social worker, 44. He called for more traffic patrols to discourage reckless driving.

“This road gets real busy and dangerous over the weekend, as more families and residents go camping in the desert in Al Bayader.”

Sharjah Police said that Emirates Road (E611) was the most dangerous road last year with nine deaths.

Abdullah Said, a resident of Al Madam, urged police to lower the speed limit on the entire Mleiha Road.

“A lot of families lost loved ones on that road. It is used by residents in the eastern and central region to reach Dubai and Sharjah,” he said.

tzriqt@thenatioal.ae

Western Region Asia Cup Qualifier

Results

UAE beat Saudi Arabia by 12 runs

Kuwait beat Iran by eight wickets

Oman beat Maldives by 10 wickets

Bahrain beat Qatar by six wickets

Semi-finals

UAE v Qatar

Bahrain v Kuwait

 

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.”

On Women's Day
Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

Prop idols

Girls full-contact rugby may be in its infancy in the Middle East, but there are already a number of role models for players to look up to.

Sophie Shams (Dubai Exiles mini, England sevens international)

An Emirati student who is blazing a trail in rugby. She first learnt the game at Dubai Exiles and captained her JESS Primary school team. After going to study geophysics at university in the UK, she scored a sensational try in a cup final at Twickenham. She has played for England sevens, and is now contracted to top Premiership club Saracens.

----

Seren Gough-Walters (Sharjah Wanderers mini, Wales rugby league international)

Few players anywhere will have taken a more circuitous route to playing rugby on Sky Sports. Gough-Walters was born in Al Wasl Hospital in Dubai, raised in Sharjah, did not take up rugby seriously till she was 15, has a master’s in global governance and ethics, and once worked as an immigration officer at the British Embassy in Abu Dhabi. In the summer of 2021 she played for Wales against England in rugby league, in a match that was broadcast live on TV.

----

Erin King (Dubai Hurricanes mini, Ireland sevens international)

Aged five, Australia-born King went to Dubai Hurricanes training at The Sevens with her brothers. She immediately struck up a deep affection for rugby. She returned to the city at the end of last year to play at the Dubai Rugby Sevens in the colours of Ireland in the Women’s World Series tournament on Pitch 1.