Tehran residents choking on pollution



TEHRAN // Hundreds of Tehran residents have been taken to hospitals and emergency rooms with respiratory or cardiac problems since Dec 8, when air pollution rose to alarming levels in the city. The number of deaths caused by cardiac arrest increased by 15 per cent in the week that followed when the pollution was particularly high, according to Tehran cemetery officials. The pollution has been persistent as the temperature currently hovers at about 0°C and traps the fumes from cars and industries over the city, forcing emergency rooms and hospitals to operate on a high state of alert, health ministry officials said. "A close relative of mine who has asthma had to be rushed to the hospital last week when her health condition got seriously worrying. She hadn't even been out because of the warning about the dangerous level of the air pollution," said Zahra Afsari, a 45-year-old housewife. This month, electronic display boards that register the level of air pollution in the city's busiest squares and streets frequently have shown alarming levels of carbon monoxide and solid particles. Both are considered very dangerous to one's health. "Since winter cold began it is not possible to go out and not return home fatigued, nauseated, with itchy eyes, a sore throat, a bad headache or even with all of these symptoms," said Mehdi Gharakhanlou, a 38-year-old businessman. "I work in the commercial centre of the city where despite the ban on the use of private cars and enforcement of even-odd licence plate system, the problem is even worse than in other parts of the city. I wear a mask when I am out, but even that doesn't help much," Mr Gharakhanlou said. Yesterday, the Tehran Police Authority started implementing a traffic control plan aimed at cutting the city's air pollution. Police will now confiscate cars visibly contributing to pollution and enforce a 70,000 rial (Dh26) fine on drivers whose cars have failed to pass a safety inspection. Several hundred thousand of the more than three million cars in Tehran are old, with very poor fuel efficiency. Authorities said more than 80 per cent of the pollution is caused by carbon monoxide spewing from car exhausts. Jaffar Tashakkori Hashemi, the deputy mayor of Tehran, was recently quoted by newspapers as saying that only 20 per cent of the vehicles navigating in the city meet the requirements of the emission standards of the European Union. "One of the best ways to overcome this huge problem is phasing out the old cars with new, more fuel-efficient, ones. The government can help this by offering loans to owners of old cars to buy new ones. They are doing that, but too slowly," said Hassan Ebadi, 56, a taxi driver. "They can enforce higher emission control standards on automakers. Improving the metro network and public transportation in general can also greatly help. But nobody seems to take the problem seriously enough to do something really serious about it." According to traffic authorities, the quality of the air in Tehran is below the standard level considered as healthy on more than one-third of the days of the year. Tehran's geographical location contributes to the problem of air pollution too. Tall mountains surround the city from north, east and west and form a trap for the fumes from cars and industries. msinaiee@thenational.ae

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

'Manmarziyaan' (Colour Yellow Productions, Phantom Films)
Director: Anurag Kashyap​​​​​​​
Cast: Abhishek Bachchan, Taapsee Pannu, Vicky Kaushal​​​​​​​
Rating: 3.5/5

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

COMPANY PROFILE

Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends

If you go

The flights
Return flights from Dubai to Santiago, via Sao Paolo cost from Dh5,295 with Emirates


The trip
A five-day trip (not including two days of flight travel) was split between Santiago and in Puerto Varas, with more time spent in the later where excursions were organised by TurisTour.
 

When to go
The summer months, from December to February are best though there is beauty in each season

Types of bank fraud

1) Phishing

Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.

2) Smishing

The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.

3) Vishing

The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.

4) SIM swap

Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.

5) Identity theft

Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.

6) Prize scams

Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.

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.”