Prince William calls for united approach to avoid climate disaster

The UK's Prince William called for humanity to "reset our relationship with nature and our trajectory as a species" if the planet is to avoid a climate crisis.
He suggested activists follow the lead of inspirational young leaders such as Greta Thunberg, who have turned climate action into a cause for immediate action.
Prince William is a long-time supporter of climate action, as is his father Prince Charles, who was a voice for environmentalism in the late 20th century.
In a special video message broadcast to the Conservation International Gala in the US, the Duke of Cambridge said the next decade would be "one of our greatest tests".

Together we must unite every business, every community, every government and every person

"All of us, across all sectors of society and in every corner of the globe, must come together to fundamentally reset our relationship with nature and our trajectory as a species," he said.

"I truly believe that humans have an extraordinary capacity to set goals and strive to achieve them. The remarkable development of the Covid-19 vaccine in record time is a case in point."
Last year, the duke launched the Earthshot Prize to recognise, celebrate and fund breakthrough ideas that can help tackle climate change.
"We want to find the brightest minds and boldest ideas that will help us to achieve these Earthshots," he said of the launch.

"But it will require our collective energy, determination, and optimism to get there.

"Together we must unite every business, every community, every government and every person around our common goal to repair the earth.
"Together, I'm confident that we can begin to heal our planet, protect nature, and improve lives for billions of people, today and for generations to come."

Severe heatwaves and drought have tripled crop losses in Europe over the past 50 years, a study found.
In addition, flooding and cold snaps became more prevalent during this period – but it was drought that was the most "disproportionately severe".

In the US, activists hope that President Joe Biden's government will take the issue seriously after his predecessor, Donald Trump, withdrew from the Paris climate agreement.
US climate envoy John Kerry was in the UAE on Saturday for a regional climate summit.

Going grey? A stylist's advice

If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”

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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.”

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory