• Try coral restoration at Gili Lankanfushi in the Maldives. Photo: Gili Lankanfushi
    Try coral restoration at Gili Lankanfushi in the Maldives. Photo: Gili Lankanfushi
  • Meet rescued sea turtles at One&Only Cape Town. Photo: Kerzner
    Meet rescued sea turtles at One&Only Cape Town. Photo: Kerzner
  • Go whale watching on Islas Secas in Panama. Photo: Beyond Green
    Go whale watching on Islas Secas in Panama. Photo: Beyond Green
  • Help to keep the beaches and waters at Arenas Del Mar resort pristine. Photo: ArenasdelMar
    Help to keep the beaches and waters at Arenas Del Mar resort pristine. Photo: ArenasdelMar
  • Help to protect the wildlife at Turtle Inn, Placencia, Belize. Photo: Beyond Green
    Help to protect the wildlife at Turtle Inn, Placencia, Belize. Photo: Beyond Green
  • Explore the deep blue at Misool Eco Resort in Indonesia. Photo: Misool
    Explore the deep blue at Misool Eco Resort in Indonesia. Photo: Misool

Global sea levels, ocean temperatures and greenhouse gases hit record highs in 2021


Patrick deHahn
  • English
  • Arabic

Greenhouse gas concentrations, global sea levels and ocean heat content all reached record highs in 2021, a study published on Wednesday showed.

The US National Oceanic and Atmospheric Administration (NOAA) led hundreds of global scientists in an annual review of the changing climate.

Researchers found that seas around the globe rose 4.9 millimetres above 2020 levels, the 10th consecutive annual increase. This marks a cumulative 97mm rise over 1993, when records began.

The findings support recent research stating that sea-level rise is “locked in” due to the melting of the Greenland Ice Sheet and the NOAA reporting that levels along US coastlines could rise by up to 50 centimetres by 2050.

“The data presented in this report are clear — we continue to see more compelling scientific evidence that climate change has global impacts and shows no sign of slowing,” said NOAA Administrator Rick Spinrad.

Global ocean heat content, measured from the ocean’s surface to a depth of more than 1,800 metres, continued to increase and reached new highs in 2021, the NOAA said.

  • Displaced people have put up makeshift tents along elevated motorways and railway tracks in Pakistan's Balochistan province to escape the flooded plains. AFP
    Displaced people have put up makeshift tents along elevated motorways and railway tracks in Pakistan's Balochistan province to escape the flooded plains. AFP
  • A man and his children wade through floodwaters in Charsadda, Pakistan. AP
    A man and his children wade through floodwaters in Charsadda, Pakistan. AP
  • Homes are surrounded by floodwaters in Jaffarabad, a district of Balochistan province. AP
    Homes are surrounded by floodwaters in Jaffarabad, a district of Balochistan province. AP
  • Children are reflected in a mirror near their flood-hit home in Charsadda. AP
    Children are reflected in a mirror near their flood-hit home in Charsadda. AP
  • People launch a wooden boat into rising floodwaters in Mehar, Pakistan. Reuters
    People launch a wooden boat into rising floodwaters in Mehar, Pakistan. Reuters
  • People affected by floods move to higher ground in Dadu district, Sindh province, Pakistan. EPA
    People affected by floods move to higher ground in Dadu district, Sindh province, Pakistan. EPA
  • Displaced people take shelter on an elevated motorway to escape rising floodwaters. EPA
    Displaced people take shelter on an elevated motorway to escape rising floodwaters. EPA
  • People affected by floods wait for relief in Dadu district, Sindh province. EPA
    People affected by floods wait for relief in Dadu district, Sindh province. EPA
  • A girl sits amid the rubble of her damaged home in Charsadda district, Khyber Pakhtunkhwa province. AP
    A girl sits amid the rubble of her damaged home in Charsadda district, Khyber Pakhtunkhwa province. AP
  • A sick child struggles to eat in Charsadda after his family fled their home due to flooding. AP
    A sick child struggles to eat in Charsadda after his family fled their home due to flooding. AP
  • A man rides his donkey-drawn cart during a heavy rainfall in flood-hit Dera Allah Yar town in Balochistan province. AFP
    A man rides his donkey-drawn cart during a heavy rainfall in flood-hit Dera Allah Yar town in Balochistan province. AFP
  • Homes are surrounded by floodwaters in Sohbat Pur, a city in Balochistan. AP
    Homes are surrounded by floodwaters in Sohbat Pur, a city in Balochistan. AP
  • A boy pushes a motorbike after it stalled in Nowshera, Khyber Pakhtunkhwa province. Reuters
    A boy pushes a motorbike after it stalled in Nowshera, Khyber Pakhtunkhwa province. Reuters
  • Children affected by floods wait to receive food in Nowshera district. EPA
    Children affected by floods wait to receive food in Nowshera district. EPA
  • A man throws water out of his flooded home in Nowshera. EPA
    A man throws water out of his flooded home in Nowshera. EPA
  • People assess the damage to their home in Nowshera. EPA
    People assess the damage to their home in Nowshera. EPA
  • A family salvages items from the ruins of their home, which was destroyed by flooding, in the Shikarpur district of Sindh province. AP
    A family salvages items from the ruins of their home, which was destroyed by flooding, in the Shikarpur district of Sindh province. AP
  • The flooding has affected more than 33 million people in a country of 220 million. AP
    The flooding has affected more than 33 million people in a country of 220 million. AP
  • People salvage items from a damaged building in Kalam, Swat Valley. AP
    People salvage items from a damaged building in Kalam, Swat Valley. AP
  • Hotels are surrounded by floodwaters in Kalam. AP
    Hotels are surrounded by floodwaters in Kalam. AP
  • Displaced people sit on a tractor with their belongings as they make their way to higher ground in Shikarpur. AFP
    Displaced people sit on a tractor with their belongings as they make their way to higher ground in Shikarpur. AFP
  • A child sits on a dry ground at a makeshift camp in Shikarpur. AFP
    A child sits on a dry ground at a makeshift camp in Shikarpur. AFP
  • People jostle for drinking water delivered by a municipality lorry along a flooded road in Sohbatpur, Balochistan. AP
    People jostle for drinking water delivered by a municipality lorry along a flooded road in Sohbatpur, Balochistan. AP

The report also found greenhouse gases reached record levels last year.

Carbon dioxide emissions seen in 2021 were the “highest measured in the modern observational records as well as the highest in at least the last million years based on paleoclimatic records”, the report said.

Scientists added that the global warming continues unabated despite efforts to curb climate change.

The study showed that 2021 was among the top six warmest years recorded since the 1800s. The past seven years have been the hottest in history.

The Cop27 climate conference is being held in Egypt this November and the UN says “much more is needed” to be done in the fight against global warming.

“With many communities hit with 1,000-year floods, exceptional drought and historic heat this year, it shows that the climate crisis is not a future threat but something we must address today,” Mr Spinrad said.

This summer alone, at least a third of Pakistan is underwater due to historic flooding, record monsoon rainfall has hit India, and the US, China and Europe reported unprecedented high temperatures.

  • Dried mud and old trees at Colliford Lake in Cornwall, England, where water levels have severely dropped exposing the unseen trees and rocks in Cornwall's largest lake and reservoir. PA
    Dried mud and old trees at Colliford Lake in Cornwall, England, where water levels have severely dropped exposing the unseen trees and rocks in Cornwall's largest lake and reservoir. PA
  • A large section of exposed River Rhine riverbed, due to low water levels caused by drought, in Duesseldorf, Germany. Bloomberg
    A large section of exposed River Rhine riverbed, due to low water levels caused by drought, in Duesseldorf, Germany. Bloomberg
  • A boat on a bank of the receding Danube river, after a lengthy drought near the village of Cortanovci, Serbia. AP
    A boat on a bank of the receding Danube river, after a lengthy drought near the village of Cortanovci, Serbia. AP
  • People take a stroll on the river bed of the Waal as water levels dropped because of drought in Nijmegen, Netherlands. AP
    People take a stroll on the river bed of the Waal as water levels dropped because of drought in Nijmegen, Netherlands. AP
  • People take photos on the southern tip of Margaret Island, which can be seen due to low water level of the River Danube, in Budapest, Hungary. AP
    People take photos on the southern tip of Margaret Island, which can be seen due to low water level of the River Danube, in Budapest, Hungary. AP
  • The dried-up river Tille in Lux, France. AP
    The dried-up river Tille in Lux, France. AP
  • A bridge, which is usually submerged, over the dried bed of Llwyn-on Reservoir, during a heatwave in Wales. Reuters
    A bridge, which is usually submerged, over the dried bed of Llwyn-on Reservoir, during a heatwave in Wales. Reuters
  • The Rhine river with low water levels in Cologne, Germany. AP
    The Rhine river with low water levels in Cologne, Germany. AP
  • The Yesa reservoir and the Aragon River are practically without water in Yesa, Navarra, Spain. EPA
    The Yesa reservoir and the Aragon River are practically without water in Yesa, Navarra, Spain. EPA
  • Low water levels at Baitings Reservoir in Ripponden, West Yorkshire, England. Reuters
    Low water levels at Baitings Reservoir in Ripponden, West Yorkshire, England. Reuters
  • Low water levels at the Odra river near Czelin village, north-western Poland. EPA
    Low water levels at the Odra river near Czelin village, north-western Poland. EPA
  • Boats on the dried bed of the drought-affected Doubs river on the border with France in Les Brenets, Switzerland. Reuters
    Boats on the dried bed of the drought-affected Doubs river on the border with France in Les Brenets, Switzerland. Reuters
  • A person sits by a reservoir with low water levels and dried grass at Walthamstow Wetlands in London, England. EPA
    A person sits by a reservoir with low water levels and dried grass at Walthamstow Wetlands in London, England. EPA
  • The dried-up River Po that has been affected by the worst drought in 70 years, near Borgo Virgilio, Italy. Reuters
    The dried-up River Po that has been affected by the worst drought in 70 years, near Borgo Virgilio, Italy. Reuters
FA Cup quarter-final draw

The matches will be played across the weekend of 21 and 22 March

Sheffield United v Arsenal

Newcastle v Manchester City

Norwich v Derby/Manchester United

Leicester City v Chelsea

The%20Boy%20and%20the%20Heron
%3Cp%3E%3Cstrong%3EDirector%3A%C2%A0%3C%2Fstrong%3EHayao%20Miyazaki%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%C2%A0Soma%20Santoki%2C%20Masaki%20Suda%2C%20Ko%20Shibasaki%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E5%2F5%3C%2Fp%3E%0A
Signs%20of%20%20%20%20%20%20%20heat%20stroke
%3Cul%3E%0A%3Cli%3EThe%20loss%20of%20sodium%20chloride%20in%20our%20sweat%20can%20lead%20to%20confusion%20and%20an%20altered%20mental%20status%20and%20slurred%20speech%3C%2Fli%3E%0A%3Cli%3EBody%20temperature%20above%2039%C2%B0C%3C%2Fli%3E%0A%3Cli%3EHot%2C%20dry%20and%20red%20or%20damp%20skin%20can%20indicate%20heatstroke%3C%2Fli%3E%0A%3Cli%3EA%20faster%20pulse%20than%20usual%3C%2Fli%3E%0A%3Cli%3EDizziness%2C%20nausea%20and%20headaches%20are%20also%20signs%20of%20overheating%3C%2Fli%3E%0A%3Cli%3EIn%20extreme%20cases%2C%20victims%20can%20lose%20consciousness%20and%20require%20immediate%20medical%20attention%3C%2Fli%3E%0A%3C%2Ful%3E%0A
Western Region Asia Cup T20 Qualifier

Sun Feb 23 – Thu Feb 27, Al Amerat, Oman

The two finalists advance to the Asia qualifier in Malaysia in August

 

Group A

Bahrain, Maldives, Oman, Qatar

 

Group B

UAE, Iran, Kuwait, Saudi Arabia

ENGLAND%20SQUAD
%3Cp%3EFor%20Euro%202024%20qualifers%20away%20to%20Malta%20on%20June%2016%20and%20at%20home%20to%20North%20Macedonia%20on%20June%2019%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EGoalkeepers%3C%2Fstrong%3E%20Johnstone%2C%20Pickford%2C%20Ramsdale.%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3EDefenders%3C%2Fstrong%3E%20Alexander-Arnold%2C%20Dunk%2C%20Guehi%2C%20Maguire%2C%20%20Mings%2C%20Shaw%2C%20Stones%2C%20Trippier%2C%20Walker.%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3EMidfielders%3C%2Fstrong%3E%20Bellingham%2C%20Eze%2C%20Gallagher%2C%20Henderson%2C%20%20Maddison%2C%20Phillips%2C%20Rice.%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3EForwards%20%3C%2Fstrong%3EFoden%2C%20Grealish%2C%20Kane%2C%20Rashford%2C%20Saka%2C%20Wilson.%3C%2Fp%3E%0A
The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

The Details

Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5 

The specs: 2018 Alfa Romeo Stelvio

Price, base: Dh198,300
Engine: 2.0L in-line four-cylinder
Transmission: Eight-speed automatic
Power: 280hp @ 5,250rpm
Torque: 400Nm @ 2,250rpm
Fuel economy, combined: 7L / 100km

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Emergency phone numbers in the UAE

Estijaba – 8001717 –  number to call to request coronavirus testing

Ministry of Health and Prevention – 80011111

Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre

Emirates airline – 600555555

Etihad Airways – 600555666

Ambulance – 998

Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

SPEC%20SHEET%3A%20APPLE%20TV%204K%20(THIRD%20GENERATION)
%3Cp%3E%3Cstrong%3ECPU%3A%3C%2Fstrong%3E%20Apple%20A15%20Bionic%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECapacity%3A%3C%2Fstrong%3E%2064GB%2C%20Wi-Fi%20only%3B%20128GB%2C%20Wi-Fi%20%2B%20ethernet%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%206%2C%20Bluetooth%205.0%2C%20ethernet%20(Wi-Fi%20%2B%20ethernet%20model%20only)%2C%20IR%20receiver%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20HDMI%2C%20ethernet%20(128GB%20model%20only)%3B%20Siri%20remote%20(charging%20via%20USB-C)%3B%20accessibility%20features%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%20SDR%2FDolby%20Vision%2FHDR10%2B%20up%20to%202160p%20%40%2060fps%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPeripherals%3A%3C%2Fstrong%3E%20Compatible%20with%20HD%2FUHD%20TVs%20via%20HDMI%2C%20Bluetooth%20keyboards%2C%20AirPods%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPhoto%3A%3C%2Fstrong%3E%20GIF%2C%20HEIF%2C%20JPEG%2C%20TIFF%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColour%3A%3C%2Fstrong%3E%20Black%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20TV%204K%2C%20Siri%20remote%2C%20power%20cord%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20Dh529%2C%20Wi-Fi%20only%3B%20Dh599%2C%20Wi-Fi%20%2B%20ethernet%3C%2Fp%3E%0A

Opening Rugby Championship fixtures: Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)

Indoor cricket World Cup:
Insportz, Dubai, September 16-23

UAE fixtures:
Men

Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final

Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final

Ukraine%20exports
%3Cp%3EPresident%20Volodymyr%20Zelenskyy%20has%20overseen%20grain%20being%20loaded%20for%20export%20onto%20a%20Turkish%20ship%20following%20a%20deal%20with%20Russia%20brokered%20by%20the%20UN%20and%20Turkey.%3Cbr%3E%22The%20first%20vessel%2C%20the%20first%20ship%20is%20being%20loaded%20since%20the%20beginning%20of%20the%20war.%20This%20is%20a%20Turkish%20vessel%2C%22%20Zelensky%20said%2C%20adding%20exports%20could%20start%20in%20%22the%20coming%20days%22%20under%20the%20plan%20aimed%20at%20getting%20millions%20of%20tonnes%20of%20Ukrainian%20grain%20stranded%20by%20Russia's%20naval%20blockade%20to%20world%20markets.%3Cbr%3E%22Our%20side%20is%20fully%20prepared%2C%22%20he%20said.%20%22We%20sent%20all%20the%20signals%20to%20our%20partners%20--%20the%20UN%20and%20Turkey%2C%20and%20our%20military%20guarantees%20the%20security%20situation.%22%3C%2Fp%3E%0A
MATCH INFO

West Ham United 2 (Antonio 73', Ogbonna 90 5')

Tottenham Hotspur 3 (Son 36', Moura 42', Kane 49')

MATCH INFO

Day 2 at Mount Maunganui

England 353

Stokes 91, Denly 74, Southee 4-88

New Zealand 144-4

Williamson 51, S Curran 2-28

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Results

5pm: Al Falah – Maiden (PA) Dh80,000 (Turf) 1,200m; Winner: Bshara, Richard Mullen (jockey), Salem Al Ketbi (trainer)

5.30pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,400m; Winner: AF Musannef, Tadhg O’Shea, Ernst Oertel

6pm: Al Dhafra – Maiden (PA) Dh80,000 (T) 1,600m; Winner: AF Mualami, Antonio Fresu, Abubakar Daud

6.30pm: Al Khaleej Al Arabi – Handicap (PA) Dh80,000 (T) 1,600m; Winner: Hawafez, Adrie de Vries, Abubakar Daud

7pm: Al Mafraq – Handicap (PA) Dh80,000 (T) 1,600m; Winner: JAP Almahfuz, Royston Ffrench, Irfan Ellahi

7.30pm: Al Samha – Handicap (TB) Dh80,000 (T) 1,600m; Winner: Celestial Spheres, Patrick Cosgrave, Ismail Mohammed

FIGHT%20CARD
%3Cp%3E%3Cstrong%3EFeatherweight%204%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EYousuf%20Ali%20(2-0-0)%20(win-loss-draw)%20v%20Alex%20Semugenyi%20(0-1-0)%3Cbr%3E%3Cstrong%3EWelterweight%206%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EBenyamin%20Moradzadeh%20(0-0-0)%20v%20Rohit%20Chaudhary%20(4-0-2)%3Cbr%3E%3Cstrong%3EHeavyweight%204%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EYoussef%20Karrar%20(1-0-0)%20v%20Muhammad%20Muzeei%20(0-0-0)%3Cbr%3E%3Cstrong%3EWelterweight%206%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EMarwan%20Mohamad%20Madboly%20(2-0-0)%20v%20Sheldon%20Schultz%20(4-4-0)%3Cbr%3E%3Cstrong%3ESuper%20featherweight%208%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EBishara%20Sabbar%20(6-0-0)%20v%20Mohammed%20Azahar%20(8-5-1)%3Cbr%3E%3Cstrong%3ECruiseweight%208%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EMohammed%20Bekdash%20(25-0-0)%20v%20Musa%20N%E2%80%99tege%20(8-4-0)%3Cbr%3E%3Cstrong%3ESuper%20flyweight%2010%20rounds%3A%3C%2Fstrong%3E%3Cbr%3ESultan%20Al%20Nuaimi%20(9-0-0)%20v%20Jemsi%20Kibazange%20(18-6-2)%3Cbr%3E%3Cstrong%3ELightweight%2010%20rounds%3A%3C%2Fstrong%3E%3Cbr%3EBader%20Samreen%20(8-0-0)%20v%20Jose%20Paez%20Gonzales%20(16-2-2-)%3C%2Fp%3E%0A
Meydan racecard:

6.30pm: Al Maktoum Challenge Round 2 (PA) Group 1 | US$75,000 (Dirt) | 2,200 metres

7.05pm: UAE 1000 Guineas (TB) Listed | $250,000 (D) 1,600m

7.40pm: Meydan Classic Trial (TB) Conditions $100,000 (Turf) 1,400m

8.15pm: Al Shindagha Sprint (TB) Group 3 $200,000 (D) 1,200m

8.50pm: Handicap (TB) $175,000 (D) 1,600m

9.25pm: Handicap (TB) $175,000 (T) | 2,000m

10pm: Handicap (TB) $135,000 (T) 1,600m

How Beautiful this world is!
THE BIO

Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13 

Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier

Favourite place to travel to: Any walkable city. I also love nature and wildlife 

What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents. 

Favorite place to go in the UAE: A quiet beach.

Profile box

Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)

Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
  • If you’re driving, make sure your insurance covers Oman.
  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
  • Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.

 

Fixtures
%3Cp%3E%3Cstrong%3EWednesday%2C%20April%203%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EArsenal%20v%20Luton%20Town%2C%2010.30pm%20(UAE)%3C%2Fp%3E%0A%3Cp%3EManchester%20City%20v%20Aston%20Villa%2C%2011.15pm%20(UAE)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EThursday%2C%20April%204%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3ELiverpool%20v%20Sheffield%20United%2C%2010.30pm%20(UAE)%3C%2Fp%3E%0A
Company%20profile
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Company profile

Name:​ One Good Thing ​

Founders:​ Bridgett Lau and Micheal Cooke​

Based in:​ Dubai​​ 

Sector:​ e-commerce​

Size: 5​ employees

Stage: ​Looking for seed funding

Investors:​ ​Self-funded and seeking external investors

The specs

Engine: 6.2-litre V8

Transmission: ten-speed

Power: 420bhp

Torque: 624Nm

Price: Dh325,125

On sale: Now

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.”

Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

Updated: August 31, 2022, 7:44 PM