North America, Europe and Asia were struggling with record-breaking temperatures and warnings from authorities to stay out of the sun, amid killer heatwaves, the latest reminder of the world’s dangerously warming climate.
The record-breaking temperatures come after researchers from the National Oceanography Centre in England said that Nasa satellite imagery showed "frightening" changes in the world's seas.
The centre's report last week said that climate change was having a potentially devastating impact on marine life and, in many areas, changing the colour of the ocean from blue to a greenish colour, a phenomenon thought by experts to be linked to a rise in the number of phytoplankton, microscopic life that help the oceans store carbon from the atmosphere.
Earlier this month the world saw its hottest day, with the global average temperature passing 17 celsius, according to the US National Centres for Environmental Prediction. On Saturday, Europe may have reached its hottest temperature, at 54 celsius in Sardinia and Sicily.
The European Space Agency said the searing heat on the two islands was "potentially the hottest temperatures ever recorded in Europe".
A powerful heatwave stretching from California to Texas was expected to peak, according to the US National Weather Service, which warned of an "extremely hot and dangerous weekend".
Arizona's state capital Phoenix recorded 16 straight days above 43 degrees Celsius, en route to an expected 46 Celsius.
Death Valley danger
California's Death Valley, one of the hottest places on Earth, is also set to register new peaks on Sunday, with the mercury possibly rising to 54C.
Authorities have been sounding the alarm, advising people to avoid outdoor activities in the daytime and to be wary of dehydration.
At a construction site outside Houston, Texas, a 28-year-old worker, who gave his name only as Juan, helped complete a wall in the blazing heat.
"Just when I take a drink of water, I get dizzy, I want to vomit because of the heat," he told AFP.
The Las Vegas weather service warned that assuming high temperatures naturally come with the area's desert climate was "a DANGEROUS mindset! This heatwave is NOT typical desert heat".
Southern California is fighting numerous wildfires, including one in Riverside County that has burnt more than 7,500 acres (3,000 hectares) and prompted evacuation orders.
Further north, the Canadian government reported that wildfires had burnt a record-breaking 10 million hectares this year, with more damage expected as the summer drags on.
In Europe, Italy faces weekend predictions of historic highs with the health ministry issuing a red alert for 16 cities including Rome, Bologna and Florence.
The weather centre warned Italians to prepare for "the most intense heatwave of the summer and also one of the most intense of all time".
The thermometer is likely to hit 40C in Rome by Monday and 43C on Tuesday, smashing the record of 40.5C set in August 2007.
The Acropolis in Athens, one of Greece's top tourist attractions, will close during the hottest hours on Sunday, for the third day running.
Extreme weather events rise
In France, high temperatures and resulting drought are posing a threat to the farming industry, earning Agriculture Minister Marc Fesneau criticism from climatologists for having brushed aside conditions as "normal enough for summer".
This June was the second-hottest on record in France, according to the national weather agency, and several areas of the country have been under a heatwave alert since Tuesday.
There is little reprieve ahead for Spain, whose meteorological agency warned that a new heatwave on Monday through Wednesday will bring temperatures above 40C to the Canary Islands and the southern Andalusia region.
As torrential rains lashed northern Japan on Sunday, a man was found dead in a flooded car, a week after seven people were killed in similar weather in the country's south-west.
Parts of eastern Japan are expected to reach 38-39C on Sunday and Monday, with the meteorological agency warning temperatures could hit previous records.
In South Korea, rescuers on Sunday battled to reach people trapped in a flooded tunnel, after heavy rains for the last four days triggered floods and landslides that killed at least 33 people and left 10 missing.
The country is at the peak of its summer monsoon season, with more rain forecast through Wednesday.
In northern India, relentless monsoon rains have reportedly killed at least 90 people, following burning heat.
Major flooding and landslides are common during India's monsoons, but experts say climate change is increasing their frequency and severity.
China on Sunday issued several temperature alerts, warning thermometers could reach 40-45C in the partly desert region of Xinjiang, and 39C in southern Guangxi region.
Morocco was slated for above-average temperatures this weekend with highs of 47C in some provinces – more typical of August than July – sparking concerns for water shortages, the meteorological service said.
In Iraq, where scorching summers are common, 37-year-old Wissam Abed usually cools off from Baghdad's brutal summer by swimming in the Tigris river.
But as rivers dry up, so does the age-old pastime.
With temperatures near 50C and wind whipping through the city like a hairdryer, Mr Abed stood in the middle of the river, but the water only comes up to his waist.
"Year after year, the water situation gets worse," he told AFP.
While it can be difficult to attribute a particular weather event to climate change, scientists insist that global warming – linked to dependence on fossil fuels – is behind the multiplication and intensification of heatwaves.
The EU's climate monitoring service said the world saw its hottest June on record last month.
PROFILE OF STARZPLAY
Date started: 2014
Founders: Maaz Sheikh, Danny Bates
Based: Dubai, UAE
Sector: Entertainment/Streaming Video On Demand
Number of employees: 125
Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
South Africa squad
: Faf du Plessis (captain), Hashim Amla, Temba Bavuma, Quinton de Kock (wkt), Theunis de Bruyn, AB de Villiers, Dean Elgar, Heinrich Klaasen (wkt), Keshav Maharaj, Aiden Markram, Morne Morkel, Chris Morris, Wiaan Mulder, Lungi Ngidi, Duanne Olivier, Vernon Philander and Kagiso Rabada.
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Indoor cricket in a nutshell
Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
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.”
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
UAE SQUAD FOR ASIAN JIU-JITSU CHAMPIONSHIP
Men’s squad: Faisal Al Ketbi, Omar Al Fadhli, Zayed Al Kathiri, Thiab Al Nuaimi, Khaled Al Shehhi, Mohamed Ali Al Suwaidi, Farraj Khaled Al Awlaqi, Muhammad Al Ameri, Mahdi Al Awlaqi, Saeed Al Qubaisi, Abdullah Al Qubaisi and Hazaa Farhan
Women's squad: Hamda Al Shekheili, Shouq Al Dhanhani, Balqis Abdullah, Sharifa Al Namani, Asma Al Hosani, Maitha Sultan, Bashayer Al Matrooshi, Maha Al Hanaei, Shamma Al Kalbani, Haya Al Jahuri, Mahra Mahfouz, Marwa Al Hosani, Tasneem Al Jahoori and Maryam Al Amri
Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EKinetic%207%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Rick%20Parish%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Clean%20cooking%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self-funded%3C%2Fp%3E%0A
Friday's schedule at the Etihad Airways Abu Dhabi Grand Prix
GP3 qualifying, 10:15am
Formula 2, practice 11:30am
Formula 1, first practice, 1pm
GP3 qualifying session, 3.10pm
Formula 1 second practice, 5pm
Formula 2 qualifying, 7pm
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Zayed Sustainability Prize
The biog:
From: Wimbledon, London, UK
Education: Medical doctor
Hobbies: Travelling, meeting new people and cultures
Favourite animals: All of them
The biog
Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
Thor: Ragnarok
Dir: Taika Waititi
Starring: Chris Hemsworth, Tom Hiddleston, Cate Blanchett, Jeff Goldblum, Mark Ruffalo, Tessa Thompson
Four stars
COMPANY PROFILE
Company name: SimpliFi
Started: August 2021
Founder: Ali Sattar
Based: UAE
Industry: Finance, technology
Investors: 4DX, Rally Cap, Raed, Global Founders, Sukna and individuals
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
COMPANY PROFILE
Name: Rain Management
Year started: 2017
Based: Bahrain
Employees: 100-120
Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund