Don't blame crocodiles for Nasser's dwindling fish stocks


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ASWAN, EGYPT // Alongside the pernicious fish smugglers and mercurial management policies, the fishermen on Lake Nasser also face a far more menacing threat: crocodiles. "The crocodiles eat so much fish every day. A big crocodile can eat 150 kilos of fish per day," said Tariq Mohammed, a Lake Nasser fisherman who said the preponderance of crocodiles is among the chief reasons for the lake's poor fish yield. "This is dangerous for the fishermen and they decrease the number of fish and cut fishermen's nets."

Lake authorities, however, say the crocodiles are more like paper tigers. The true threat to the lake's future comes from smugglers, what Olfat Anwar Habib, the general director of fisheries at the Lake Nasser Development Authority, called "human crocodiles". "As far as I know, the crocodiles are not a big issue in Lake Nasser because [they] don't have a bad influence on the fishermen," said Ms Habib. "It's been printed in the newspapers that the number of crocodiles in Lake Nasser is 8,000 or 20,000. This is a huge number. If there were this many crocodiles in Lake Nasser there wouldn't be any water. You could walk on crocodiles from one side of the lake to the other."

Threat or no threat, Egypt's Environmental Affairs Agency has begun a three-year study of the Nile crocodiles in Lake Nasser, complete with radio monitoring tags to monitor the animals' movements. Preliminary reports from the study arrived at an estimate of about 5,000 crocodiles in the lake based on a survey of 25 per cent of the lake area. "The complaints are just a pretext for the fishermen so that the government will allow them to catch crocodiles so that they can earn money from the crocodile trade," said Mahmoud Hasib, the head of protected areas for South Said, the Red Sea and Aswan for the Environmental Affairs Agency. "They also say the crocodiles cut their nets, but so do the pelicans and cormorants. So the crocodiles, we can't say they are the only problem."

In the past 40 years, lake agencies have recorded only nine incidents involving crocodiles, all of which Mr Hasib blamed on human error. Even the fishermen acknowledged that crocodiles, while vicious, rarely attack humans unprovoked. Nevertheless, say fishermen, the crocodile population should be controlled, particularly since their numbers are probably growing. Crocodiles were frequently hunted for their skins until the 1950s, when they disappeared almost completely. But since a 1983 environmental protection law made hunting crocodiles illegal, many fishermen insist the beasts have made a more-than-healthy comeback.

In March, Egypt's Environmental Affairs Agency successfully appealed to the Convention on the International Trade in Endangered Species of Wild Fauna and Flora (Cites) to reduce the crocodile's protection status from Appendix I to Appendix II - a change that could eventually open up the animal to limited hunting and trading by 2013. If trading is ever legally allowed, the requested annual export quota of 750 skins will hardly come as a major financial windfall to the fishermen of Lake Nasser. But it may ease their more immediate fears of being eaten.

"The government needs to catch these crocodiles," said Radi Abdel Al Ahmed, a Lake Nasser fishing boat owner. "They are dangerous for us, but if you don't attack them, they won't attack you." mbradley@thenational.ae

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Where to buy art books in the UAE

There are a number of speciality art bookshops in the UAE.

In Dubai, The Lighthouse at Dubai Design District has a wonderfully curated selection of art and design books. Alserkal Avenue runs a pop-up shop at their A4 space, and host the art-book fair Fully Booked during Art Week in March. The Third Line, also in Alserkal Avenue, has a strong book-publishing arm and sells copies at its gallery. Kinokuniya, at Dubai Mall, has some good offerings within its broad selection, and you never know what you will find at the House of Prose in Jumeirah. Finally, all of Gulf Photo Plus’s photo books are available for sale at their show. 

In Abu Dhabi, Louvre Abu Dhabi has a beautiful selection of catalogues and art books, and Magrudy’s – across the Emirates, but particularly at their NYU Abu Dhabi site – has a great selection in art, fiction and cultural theory.

In Sharjah, the Sharjah Art Museum sells catalogues and art books at its museum shop, and the Sharjah Art Foundation has a bookshop that offers reads on art, theory and cultural history.

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Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

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Courtesy: Crystal Intelligence

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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Salah in numbers

€39 million: Liverpool agreed a fee, including add-ons, in the region of 39m (nearly Dh176m) to sign Salah from Roma last year. The exchange rate at the time meant that cost the Reds £34.3m - a bargain given his performances since.

13: The 25-year-old player was not a complete stranger to the Premier League when he arrived at Liverpool this summer. However, during his previous stint at Chelsea, he made just 13 Premier League appearances, seven of which were off the bench, and scored only twice.

57: It was in the 57th minute of his Liverpool bow when Salah opened his account for the Reds in the 3-3 draw with Watford back in August. The Egyptian prodded the ball over the line from close range after latching onto Roberto Firmino's attempted lob.

7: Salah's best scoring streak of the season occurred between an FA Cup tie against West Brom on January 27 and a Premier League win over Newcastle on March 3. He scored for seven games running in all competitions and struck twice against Tottenham.

3: This season Salah became the first player in Premier League history to win the player of the month award three times during a term. He was voted as the division's best player in November, February and March.

40: Salah joined Roger Hunt and Ian Rush as the only players in Liverpool's history to have scored 40 times in a single season when he headed home against Bournemouth at Anfield earlier this month.

30: The goal against Bournemouth ensured the Egyptian achieved another milestone in becoming the first African player to score 30 times across one Premier League campaign.

8: As well as his fine form in England, Salah has also scored eight times in the tournament phase of this season's Champions League. Only Real Madrid's Cristiano Ronaldo, with 15 to his credit, has found the net more often in the group stages and knockout rounds of Europe's premier club competition.

The specs: 2017 Ford F-150 Raptor

Price, base / as tested Dh220,000 / Dh320,000

Engine 3.5L V6

Transmission 10-speed automatic

Power 421hp @ 6,000rpm

Torque 678Nm @ 3,750rpm

Fuel economy, combined 14.1L / 100km

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Four stars

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