Italy is trying to bring in e-scooter laws after the death of a 13-year-old boy.
Among the measures being considered are reduced speed limits and compulsory helmets.
In Italy, the traditional motor scooter is popular among teenagers as a first vehicle and its buzz is loved around Rome and other cities.
The e-scooter brought with it a similar freedom but also a spate of near misses on public squares in cities such as Florence and Milan.
For Italians taking up the ride-sharing e-scooters, usage has soared during 2020.
E-scooter sharing services are producing "unprecedented numbers” of riders as it becomes an ever more popular mode of transport across the country, Italian politicians behind the proposed legislation said.
The teenager who died suffered head injuries in an accident in Sesto San Giovanni, northern Italy, where mayor Roberto Di Stefano reacted by cutting speed limits to 20kph on bicycle paths and 5kph in pedestrianised areas.
The death prompted the drawing up of four bills, going before national politicians, looking to reduce speeds and add restrictions on e-scooter use.
There would be a 20kph speed limit on cycle paths and 30kph on urban roads.
In pedestrianised areas, a maximum of 6kph would be imposed, which the scooter companies suggest is too low for safe use.
Riders would also need, for the first time, to wear helmets. A ban on riding in the evening, from after sunset, could be implemented as well as fines for non-compliance.
Pavements would be off limits and e-scooters would need to be carried by hand. Rules for parking are also proposed, similar to parking fines in place for traditional scooters and motorcycles. E-scooters would also have to be parked in designated places.
Children would be banned from riding the e-scooters.
E-scooters are growing in popularity across Europe and the Middle East but they have really taken off in Italy where the scooter is a rite of passage.
Last year, there were 7.4 million rentals in the country, with the average journey lasting 12 minutes and covering 1.1 miles, the National Observatory on Sharing Mobility said.
There are at least 140,000 e-scooters on the road in the country and one in every three shared-vehicle trips is by e-scooter, supporters of the law said.
Italian lawmakers say they want to provide a framework of rules.
From December 1, Florence plans to introduce a compulsory helmet requirement for e-scooter riders, Mayor Dario Nardella said.
Meanwhile, across Europe, politicians are grappling with the new mode of transport.
In London, e-scooters can be rented as part of a trial scheme but the use of the privately owned vehicles is mostly illegal.
The trial includes speed limits of 25kph and the e-scooters are prohibited from pavements.
In Germany, riders need a moped licence.
In France, new laws were introduced after a number of riders died in accidents. Now, users must be 12 or older and adhere to a 25kph speed limit.
Riding on pavements is banned and travelling on some roads requires high-vis clothing and a helmet.
How to join and use Abu Dhabi’s public libraries
• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.
• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.
• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.
• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.
• For more information visit the library network's website.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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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.”