Reckless drivers can be punished with a Dh2,000 fine, but offences such as not carrying a driving licence are just Dh100.
Reckless drivers can be punished with a Dh2,000 fine, but offences such as not carrying a driving licence are just Dh100.

Speeding fines cut in half 'for an indefinite period'



ABU DHABI // Drivers who owe unpaid fines for speeding and other traffic offences are being treated with "sympathy" by the traffic and patrols department and will be given a 50 per cent discount on outstanding debts. The new legislation, law number 400 for 2010, was announced yesterday by Sheikh Saif bin Zayed Al Nahyan, the Minister of Interior, and will be in place for an indefinite period.

Col Hussein al Harthi, director of traffic and patrols, said the new decision to halve fines, which applies to all traffic departments in the emirate, had been made in "sympathy" for drivers. He said the scheme aimed to encourage them to comply with traffic rules and regulations. "This step was taken to let people think about the consequences of breaking the rules that are placed there for their own safety," he said.

Police said they started discounting fines four days ago but had waited until the payment system was fully upgraded before announcing the change. Col al Harthi said more staff had been assigned to fine-payment desks to handle an expected surge in customers. The police did not say how many motorists had outstanding fines. The surprise announcement came on the first anniversary of the death of three Emirati youngsters who were killed on Airport Road, when they were hit by a speeding car.

A fourth person, Nurshaida Parjan, 24, died from her injuries in a hospital in her native Indonesia in April. The 20-year-old driver who killed them was jailed for six months and fined Dh5,000. The tragedy inspired The National to launch a campaign, named the Road to Safety, designed to raise awareness of the scale of dangerous driving in the UAE. The Government has introduced programmes and educational initiatives designed to make the roads safer, which appear to have achieved success, with Ministry of Interior figures showing 963 motorists died in traffic accidents in the UAE last year, compared with 1,072 in 2008.

Mohamed al Hashimi, 27, an aviation security inspector, said he hoped it would be accompanied by an awareness campaign on the dangers of breaking traffic laws. While some reports suggested that there were a number of motorists who owed Dh30,000 in fines, Mr Hashimi, an Emirati, has only Dh400 in fines and said it annoyed him to see some drivers owing thousands of dirhams. "It only shows that they are careless to the safety of themselves and others," he said. "They don't show remorse for their mistakes but prefer to try to find creative ways to avoid paying."

Haitham al Blooshi, 27, a medical lab technician who owed about Dh4,670 in fines, said that "many people in Abu Dhabi can afford to pay the huge fines, but those with fixed incomes have had a huge burden lifted off them with this generous initiative". Higher fines were introduced in March 2008 across the country along with a black points system that can cost motorists their licence if they collect 24 points for reckless driving.

The largest fine, for either driving dangerously or reckless driving, is Dh2,000. A motorist charged with that offence also receives 12 black points and their is vehicle confiscated for 30 days. The smallest fine, for offences such as not carrying a driving licence while driving or using a horn in a disturbing way, is Dh100. The Education Council in Abu Dhabi introduced road safety classes in summer schools, while police have begun using unmarked cars to catch dangerous drivers.

TransAD, the taxi regulator, has also installed speed-limiting devices in cabs to help tackle the issue of speeding. The Department of Transport has conducted a safety audit of the emirate's roads and the Urban Planning Council unveiled a new street design manual, which focusses on pedestrian safety. Abu Dhabi Municipality is also studying how to make school zones safer. Several hospitals are handing out free child safety seats, which the Government plans to make mandatory by 2011, along with rear-seat safety belts.

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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 

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.”

Klopp at the Kop

Matches 68; Wins 35; Draws 19; Losses 14; Goals For 133; Goals Against 82

  • Eighth place in Premier League in 2015/16
  • Runners-up in Europa League in 2016
  • Runners-up in League Cup in 2016
  • Fourth place in Premier League in 2016/17

Cracks in the Wall

Ben White, Pluto Press 

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Our family matters legal consultant

Name: Hassan Mohsen Elhais

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

The advice provided in our columns does not constitute legal advice and is provided for information only. Readers are encouraged to seek independent legal advice. 

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