UAE temperatures are set to climb in time for the start of the Eid Al Fitr break as the beginning of the summer approaches.
The National Centre of Meteorology said temperatures will reach 34°C in Abu Dhabi and 33°C in Dubai on Saturday, with similarly warm weather forecast for Sunday.
The NCM's online weather map projects that temperatures will rise to 37°C in the capital and 36°C in Dubai on Monday, which is expected to be the first day of Eid Al Fitr.
The International Astronomical Centre said last week that Eid Al Fitr, which marks the end of Ramadan, is expected to be celebrated from Monday, which will mean an extended holiday for employees.
The country enjoyed a cooler start to the week, with the mercury dropping as low as 6.4°C around Jebel Jai in Ras Al Khaimah.
But the National Centre of Meteorology on Wednesday said that as the wind dies down, temperatures would gradually increase as the weekend approaches for the start of a public holiday for workers.
"Northwesterly winds will start decreasing," an NCM forecaster told The National. "The temperatures will increase gradually over the next five days. There will be less wind, so it will be hotter."
On Thursday, temperatures hovered around 15°C in the morning, with highs of 28°C forecast.
March is considered the final month of the UAE winter. But the transition from winter to spring can also bring unstable weather – sometimes changing several times within 24 hours. "It can change quickly, with fog, rain and wind in one day," said the forecaster.
The wind has been raising dust in the air in places and reducing visibility. Conditions are cloudy in some areas, with a few rain showers. The NCM on Wednesday said winds could reach speeds of up to 40kph and warned the waters of the Arabian Gulf would be rough at times.
In its latest five-day bulletin, the NCM said Thursday could bring more cloudy weather, with humidity in parts, during the night and Friday morning, along with a chance of fog or mist over some coastal and internal areas.
Similar conditions are expected on Friday and the weekend, with the NCM warning of fog in places even until Monday.
What is Eid Al Fitr?
Eid Al Fitr marks one of two holy feasts celebrated by Muslims. The first day of the festival coincides with the first day of the 10th Islamic calendar month, Shawwal.
Celebrations begin with Eid prayers, shortly after the dawn fajr prayer, and last for three days. Eid prayer is followed by a sermon and a big part of the ritual is greeting others who have gathered to pray and wishing them “Eid Mubarak”. The prayers are seen as a chance to exchange Eid greetings and meet neighbours, family and friends.
The UAE's hotels are gearing up for a busy few days, with booking levels already up to about 60 per cent, with some operators forecasting full occupancy.
Demand is being driven by many factors including a preference for staycations, with one hospitality company saying last-minute bookings from Gulf countries were a key driver and another experiencing “remarkable momentum”.
How long will the Eid break last?
The Ministry of Human Resources and Emiratisation said last week that the Eid break would run from Sunday, March 30, until Tuesday, April 1, if Ramadan lasts 29 days.
The ministry confirmed the public holiday would be held from Sunday, March 30, until Wednesday, April 2, if Ramadan is 30 days.
Dubai tailors prepare for Eid Al Fitr - in pictures
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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Classification of skills
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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The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
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Moral education needed in a 'rapidly changing world'
Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.
Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.
"Moral education touches on every aspect and subject that children engage in.
"It is not just limited to science or maths but it is involved in all subjects and it is helping children to adapt to integral moral practises.
"The moral education programme has been designed to develop children holistically in a world being rapidly transformed by technology and globalisation."