Contaminants in the Vimto fruit drink prompted a recall of the product. Rich-Joseph Facun / The National
Contaminants in the Vimto fruit drink prompted a recall of the product. Rich-Joseph Facun / The National

UAE takes no chances with Vimto recall



ABU DHABI // Inspectors emain on the lookout for any bottles of tainted Vimto that a nationwide recall might have missed.

The recall for 250-ml bottles of the fruit drink came after authorities detected a contaminant, believed to be mould.

The problem was first spotted in Ajman and Fujairah, whose authorities alerted the Ministry of Environment and Water.

That led to the cross-country recall for Vimto, which is distributed by Aujan Industries, a company based in Saudi Arabia.

The alert was sent out to food control authorities in Dubai, Abu Dhabi, Ras Al Khaimah, Ajman and Fujairah, all of which sent their inspectors to food outlets to put the recall into action.

In Abu Dhabi emirate, the Abu Dhabi Food Control Authority's inspectors visited every food outlet selling the product, and collected samples from outlets in the capital, Al Ain and the Western Region to be sent for further tests, to find out which batches were affected. In the meantime, all bottles were ordered off the shelves.

"We check if the food product is compliant with our standards," said Dr Salama Al Muhairi, the head of the laboratory. "If there is a problem, we issue the results in a report with all the parameters per sample to the field operation division, which then takes action. All items are then 100 per cent removed from the market."

But in case any bottles slipped the net, inspectors are still keeping an eye out for them.

Much the same happened in Dubai, where the municipality's department of food control seized 3,675 bottles of the drink last week.

"When we receive an alert from any emirate, GCC country or Europe, we take immediate action and find out if it's produced in Dubai," said Shaima Al Tenaiji, the municipality's deputy head for food studies and planning.

If the product does come from a Dubai-based factory, the municipality tracks it down.

"We try to find which factory imports this specific product and get all its specifications in hand," said Ms Tenaiji.

The factory then runs any recall, under municipal supervision. Municipal inspectors collect a sample of the product from the market. "We immediately check for the production and expiry dates," said Ms Tenaiji. "When we recall the items, they are a specific batch from a specific production date."

The municipality collected every bottle of Vimto produced after November 1, some of which went to its lab. The rest have been impounded in a municipal warehouse. They will eventually be destroyed or sent back to Saudi, and no more will be imported until the precise cause of contamination is established.

"In the Vimto drink, we found physical and microbiological contaminations but not at high risk because it's just mould," Ms Tenaiji said. She said the likely causes were bad seals on some bottles, a hazardous ingredient, poor processing or a leakage.

"We discussed it with Aujan Industries and [the factory in] Saudi will take action and investigate because the problem is from their side," Ms Tenaiji said.

"We make sure every shop selling the contaminated drink has them removed through a written report from inspectors with the exact number of bottles."

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Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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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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The Bio

Amal likes watching Japanese animation movies and Manga - her favourite is The Ancient Magus Bride

She is the eldest of 11 children, and has four brothers and six sisters.

Her dream is to meet with all of her friends online from around the world who supported her work throughout the years

Her favourite meal is pizza and stuffed vine leaves

She ams to improve her English and learn Japanese, which many animated programmes originate in

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