• Projections on Al Noor Mosque as part of the Sharjah Light Festival. All photos: Pawan Singh / The National
    Projections on Al Noor Mosque as part of the Sharjah Light Festival. All photos: Pawan Singh / The National
  • An installation at Al Majaz Waterfront
    An installation at Al Majaz Waterfront
  • Landmarks around Sharjah will host light shows during the festival.
    Landmarks around Sharjah will host light shows during the festival.
  • A projection on Sharjah Fort
    A projection on Sharjah Fort
  • The event aims to highlight the latest destinations and landmarks in the emirate
    The event aims to highlight the latest destinations and landmarks in the emirate
  • Each of the landmarks will have daily light shows
    Each of the landmarks will have daily light shows
  • An installation at Al Majaz Waterfront
    An installation at Al Majaz Waterfront
  • The shows have been created in partnership with local and international artists
    The shows have been created in partnership with local and international artists
  • The event aims to highlight the 'urban and architectural character' of the emirate
    The event aims to highlight the 'urban and architectural character' of the emirate

Timeframe: Sharjah Light Festival illuminates the emirate's history and achievements


Saeed Saeed
  • English
  • Arabic

More than a decade since launching, the Sharjah Light Festival continues to shine

This year it began on Wednesday night with a sparkling opening with the emirate's tourist and family attractions illuminated in dazzling colours and light schemes. The festival will run until February 19.

The annual event is a celebration of the city's rich cultural heritage and an opportunity to show off buildings and landmarks that play a major role in everyday life.

There is Al Noor Mosque, a central point of worship during Friday prayers and Ramadan, completed in 2006. The lights accentuate its Islamic design motifs and materials that include gold, marble, soil and shells.

Al Noor Mosque during the Sharjah Light Festival in Sharjah. Pawan Singh / The National
Al Noor Mosque during the Sharjah Light Festival in Sharjah. Pawan Singh / The National

Sharjah Fort Al Hisn is also in the limelight. Built in 1823 before being renovated and reopened in 2015, the square, two-storey construction was previously the Sharjah government's headquarters and the residence of the ruling Al Qasimi family.

New sites are also featured, including Kalba Clock Tower Square, opened last year by Sharjah Ruler Sheikh Dr Sultan bin Muhammad Al Qasimi. At 60m tall, the tower is part of a large site that includes 12 water fountains and 60 smaller water features.

The Sharjah Light Festival was first held in 2010 at the Sharjah Chambers of Commerce, but has gone on to cast a bigger shadow with each staging.

Lampshade installation at Al Majaz waterfront park during the 2012 Sharjah Light Festival in Sharjah. Pawan Singh / The National
Lampshade installation at Al Majaz waterfront park during the 2012 Sharjah Light Festival in Sharjah. Pawan Singh / The National

Sheikh Dr Sultan launched the 2011 event in Al Qasba before going on a boat trip from Qasba Canal to Khalid Lagoon as part of a procession of abras, The National reported at the time.

In 2013, the emirate's east coast permanently joined the festivities, with the historical Omar bin Al Khattab Mosque in Khorfakkan and Sharjah University's campus in Kalba lit up for the occasion.

The following year, it featured an expansive hour-long parade beginning at Flag Island and covering the expanse of Khalid Lagoon before leading to the central souq.

Last year, the festival theme was Echoes of the Future. The opening night featured a light show at University City Hall that projected many of the Sharjah milestones in the fields of art, astronomy, architecture and the environment.

This year's festival will continue to highlight the emirate's story, one that will radiate for a long time to come.

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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 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
  • The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
  • The Cadbury Creme Egg contains 26g of sugar per 40g egg
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The calling app is available to download on Google Play and Apple App Store

To successfully install ToTok, users are asked to enter their phone number and then create a nickname.

The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.

Users can also invite other contacts to download ToTok to allow them to make contact through the app.

 

UAE Premiership

Results

Dubai Exiles 24-28 Jebel Ali Dragons
Abu Dhabi Harlequins 43-27 Dubai Hurricanes

Final
Abu Dhabi Harlequins v Jebel Ali Dragons, Friday, March 29, 5pm at The Sevens, Dubai

Updated: February 10, 2023, 6:01 PM