Bachir Moukarzel's winning photo of The Dubai Frame. Courtesy Bachir Moukarzel
Bachir Moukarzel's winning photo of The Dubai Frame. Courtesy Bachir Moukarzel
Bachir Moukarzel's winning photo of The Dubai Frame. Courtesy Bachir Moukarzel
Bachir Moukarzel's winning photo of The Dubai Frame. Courtesy Bachir Moukarzel

Dubai Frame drone picture takes first place in global photography competition


Evelyn Lau
  • English
  • Arabic

The first Aerial Photography Awards have taken place and a stunning photo of the Dubai Frame has found itself among the winners.

Hopefuls from 65 countries entered the competition and the jury awarded 106 pictures in 22 different categories, including Landscapes, Architecture, Sports, Travel and more.

The photo of the Dubai Frame was taken by Bachir Moukarzel and took first place in the Constructions category. The winning entry was taken at sunrise and shows the Frame standing tall above seemingly endless clouds.

Moukarzel isn’t new to making headlines in the UAE. He’s also well-known for his drone photography and back in April, shared striking video footage taken from the air which showed the empty streets of Dubai during the pandemic.

It was part of a collaboration with the Dubai Media Office, Dubai TV and Dubai Police to capture footage of the city’s urban landscape – usually bustling with cars and people – completely empty.

"When I was filming places like JBR, Downtown Dubai, the fountain area, I was the only one in sight – it was emotional somehow," Moukarzel told The National. "I had goose bumps. It is sad but at the same time, it is beautiful because you can really see that people are obeying the rules. The UAE is home to so many different nationalities and cultures, but we are all in the same boat in the end."

Moukarzel moved to the UAE in 2002, studied finance at the American University in Dubai and has been working for the Rotana Hotel group for the past 11 years.

He started dabbling with drone photography as a hobby about four years ago, but it has since become a big part of his life as he has received international accolades, starting with coming first in the Urban category of the International Drone Photography Contest in 2017.

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German intelligence warnings
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  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

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RESULT

Fifth ODI, at Headingley

England 351/9
Pakistan 297
England win by 54 runs (win series 4-0)

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A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

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Company Profile
Company name: OneOrder

Started: October 2021

Founders: Tamer Amer and Karim Maurice

Based: Cairo, Egypt

Industry: technology, logistics

Investors: A15 and self-funded 

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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.”

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2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat