I enjoyed Time to say farewell to Facebook (August 14) and I hope Christopher Lord manages to find a fulfilling life offline.
However, in defence of the world's most popular social network, it does have some value for those of us with friends and relatives spread across the globe.
It's easier to "broadcast" updates on your life over Facebook than it is to get in touch with each of your friends individually.
Perhaps that seems quite lazy and impersonal, but it's surely better than not keeping in contact at all.
Trevor Long, Abu Dhabi
Disappointed with coupon service
In reference to US internet deals giant to pull out of Middle East (August 13), while LivingSocial has excellent customer service, some of the vendors it uses are shocking.
I bought services and products from them twice and on both occasions had to resort to requesting a full refund.
The vendor offering mobile phones had staff who had no clue about the process of redemption of the vouchers or even how to provide the correct contact details for redemption.
The hotel offering a Friday brunch did so on numerous occasions but sold many more seats than it had available to fill.
I hope that whoever buys this company makes an effort to ensure the vendors are reliable and reputable and can fulfil the deals offered on the site
Razena Schroeder, Dubai
Parking charges annoy motorists
Regarding Tecom signs deal to end free parking (August 14), the area in question is one of the least congested areas I have seen in Dubai.
For the Roads and Transport Authority to say "this agreement aims to streamline the use of public parking, reduce traffic grids [and] dangerous parking practices that undermine the safety of road users" is an insult to the intelligence of the end user.
Let's call it what it is: it is an attempt to get more money from working people, even though salaries have dropped and no one has supplied an adequate alternative public transportation system.
Danial Beck, Dubai
This is just another way to milk motorists.
Alan Godfrey, Dubai
Morsi taking steps to cleanse nation
As an Egyptian, I say thank you, Mr Morsi (Morsi ousts military chief Tantawi in show of strength, August 13). You have taken a perfect step.
Now we can tell the world that Egypt is on the right path towards a clean country - clean in every aspect.
I am sure we Egyptians will gain back respect worldwide.
Ahmed Imaduddeen, Qatar
Guru's campaign has great support
As you reported in TV guru arrested in protest march (August 14), yoga guru Baba Ramdev's arrest was in connection with his anti-corruption campaign.
His main slogan is "bring back the black money" in order to get the economy on track, and it is a good initiative.
Even though the Congress party called his move a political stunt, his cause is backed by his many supporters and other political parties.
K Ragavan, India
London put on a perfect show
Regarding London 2012: see you in Rio (August 13), Britain did a magical job.
I already miss watching the activities of the excellent 30th Olympic Games.
Mohamed Kanoo, Abu Dhabi
Endangered rhinos need our support
Regarding Defending a behemoth (August 11), rhinoceros conservation has a big connection to the Gulf.
First of all, there is still a trade for rhino horns in Yemen, where they are made into dagger handles.
Secondly, Sheikh Mohammed Bin Zayed Al Nahyan, Crown prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, has been very involved in funding conservation activities throughout the Middle East and Africa.
Hopefully, there will be more support for conserving the northern subspecies of the white rhino.
Tim Upham, UK
I cannot find enough words to praise Lawrence Anthony's work.
It is our responsibility as human beings to ensure the rhinos' survival in the wild.
Margaret Smith, Dubai
COMPANY%20PROFILE
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
More coverage from the Future Forum
The biog
Favourite book: You Are the Placebo – Making your mind matter, by Dr Joe Dispenza
Hobby: Running and watching Welsh rugby
Travel destination: Cyprus in the summer
Life goals: To be an aspirational and passionate University educator, enjoy life, be healthy and be the best dad possible.
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.”
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
