Dubai // The reporting of suspicious packages is on the increase because people have become more vigilant, police say.
One example took place last month when Dubai Police received an alert about a suspicious bag left in the World Trade Centre. Explosive detection experts were sent to the scene. The bag proved to be harmless and someone had just forgotten it, police said.
"People have started to be suspicious of anything in the last years and reports on suspicious packages are increasing," said Major General Mohammed al Mansouri, the director of the General Department of Organisation, Protective Security and Emergency at Dubai Police.
"People are more vigilant and fearful due to the increased focus on terrorism globally and especially in our region."
Police were not willing to reveal how many reports they received every month, but said last month's false alarm at the World Trade Centre was "one of many".
Lt Col Khalil al Bishiri, the head of the explosive department, which falls under the protective security and emergency department, said much of their work was secretive and carried out behind closed doors. He said that revealing the way they operated would alter the emirate's security.
However, part of his department's work included ensuring all events in Dubai were safe and free of any explosive items. The day before any big event, explosive detection experts are sent to scan the venue and any person who enters the venue is checked to ensure no explosives are brought in.
The General Department of Organisation, Protective Security and Emergency spent about Dh9 million on equipment and training last year. The department also places an emphasis on investing in technology and training to develop skills so they can better detect threats.
According to Maj Gen al Mansouri, officials were also continuously developing security plans in accordance with the security situations, not only inside the country but regionally and globally.
Police said that the steps taken were precautionary preventive measures and Dubai was not considered at high risk for any terrorism activity.
Dr Mustafa Alani is a senior adviser and director of security and terrorism studies at the Gulf Research Centre in Dubai. He believed the fear of a possible terrorist attack was legitimate when put into a regional context.
"With bombs exploding in places like Pakistan and Afghanistan, the threat is real and not imagined, especially with Dubai being such an open tourism city," he said.
Dr Alani said even false reports should be considered a bonus for security forces because they showed the whole of society had "eyes and ears".
"This sort of help from the public should be appreciated and each report should be treated with consideration as it could eventually lead to the prevention of a real bomb attack," he said.
Maj Gen al Mansouri said Dubai Police treated every alert as an emergency.
"We examine many packages and almost every single one proves to be harmless, but we still take all reports seriously," he said.
"We have to operate with a mindset that nothing is normal despite having things going normally.
"The only incident that proved serious last year was the explosives we detected in a printer on board the UPS flight en route to the United States."
Two highly explosive substances, PETN and lead azide, which were "professionally loaded" into the printer's toner cartridge, were found and successfully disposed of in October. A similar package was found in the UK at the same time.
"We had to look for the explosive manually and we also informed the British authorities about where to look for the explosives," said Maj Gen al Mansouri.
wissa@thenational.ae
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The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
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.”
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
The five types of long-term residential visas
Obed Suhail of ServiceMarket, an online home services marketplace, outlines the five types of long-term residential visas:
Investors:
A 10-year residency visa can be obtained by investors who invest Dh10 million, out of which 60 per cent should not be in real estate. It can be a public investment through a deposit or in a business. Those who invest Dh5 million or more in property are eligible for a five-year residency visa. The invested amount should be completely owned by the investors, not loaned, and retained for at least three years.
Entrepreneurs:
A five-year multiple entry visa is available to entrepreneurs with a previous project worth Dh0.5m or those with the approval of an accredited business incubator in the UAE.
Specialists
Expats with specialised talents, including doctors, specialists, scientists, inventors, and creative individuals working in the field of culture and art are eligible for a 10-year visa, given that they have a valid employment contract in one of these fields in the country.
Outstanding students:
A five-year visa will be granted to outstanding students who have a grade of 95 per cent or higher in a secondary school, or those who graduate with a GPA of 3.75 from a university.
Retirees:
Expats who are at least 55 years old can obtain a five-year retirement visa if they invest Dh2m in property, have savings of Dh1m or more, or have a monthly income of at least Dh20,000.
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
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The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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North Pole stats
Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
Terrain: Ice rock
South Pole stats
Distance covered: 130km
Temperature: -50°C
Weight of equipment: 50kg
Altitude (metres above sea level): 3,300
Terrain: Flat ice
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley