Aid from the UAE leaves for Iran
Aid from the UAE leaves for Iran

260 tonnes to 23 countries: the UAE has flown aid out and also helped out at home



In reference to Kelly Clarke's report Coronavirus: UAE sends 260 tonnes of aid to 23 nations (April 23): look within also. There are so many people who have joined hands to support their communities in the UAE, the majority of them Asians. Volunteers putting themselves at risk, people providing food packages for others when they don't have enough money themselves and of course, the Emiratis doing their bit as well. Heart warming.

Dave Pryce, Dubai

Be sensible: malls reopening isn't an invite to flock to them

Regarding Nyree McFarlane's report Dubai Mall to re-open on Tuesday, Mall of the Emirates now partially open (April 25): I request my fellow residents that even though the authorities have lifted the lockdown for our convenience, we must be responsible. We must continue taking precautions and adhere strictly to the guidelines. This is about everyone's well-being, including our own.

Mahesh Khiara, Dubai

Thanks to efficient testing, cases everyday go over 500 a day. That should be reason enough for people to remain vigilant and not flout rules. I am curious to know how the authorities are going to manage the crowds. We all need to be cautious.

Owais Bazaz, Dubai

The Ministry of Health knows better than anyone about the Covid-19 situation in the UAE. Without speculating, if they are allowing people to go out for some hours it must be because we are safe. One day or another we will have to go back to normal daily life. The lockdown is not supposed to last forever. I am so glad that we are winning this fight and things are going back to normal.

Danielle Pessoa Lemes, Dubai 

No, thanks. I am going to stay safe at home for a while longer. Everyone should if they can help it.

Kareen Ferrary, Dubai 

Social distancing is all very well but what if hygiene is a luxury?

With reference to Gillian Duncan's report Coronavirus: what the Spanish flu taught the world about how to respond to a pandemic (April 20): the writer underscores correctly that now there is a greater awareness of hygiene and sanitation than there was 100 years ago. Covid-19 has taught everyone the importance of washing hands, using sanitisers, even sanitising door knobs and elevator buttons, etc. Those who have the money to buy various hygiene and sanitising products can boost their immunity against any infection.

However, what about the global population that lives on daily wages? There are millions of migrant workers, for example, in India who are stranded in various cities, who have not been able to make it to their homes in the villages due to the lockdown. They are desperate for food and shelter. I wonder how they will spare money for sanitisers and tissues when they do not even have money to buy food.

Rajendra Aneja, Dubai

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Engine: Four electric motors, one at each wheel

Power: 579hp

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Persuasion
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About Takalam

Date started: early 2020

Founders: Khawla Hammad and Inas Abu Shashieh

Based: Abu Dhabi

Sector: HealthTech and wellness

Number of staff: 4

Funding to date: Bootstrapped

Five healthy carbs and how to eat them

Brown rice: consume an amount that fits in the palm of your hand

Non-starchy vegetables, such as broccoli: consume raw or at low temperatures, and don’t reheat  

Oatmeal: look out for pure whole oat grains or kernels, which are locally grown and packaged; avoid those that have travelled from afar

Fruit: a medium bowl a day and no more, and never fruit juices

Lentils and lentil pasta: soak these well and cook them at a low temperature; refrain from eating highly processed pasta variants

Courtesy Roma Megchiani, functional nutritionist at Dubai’s 77 Veggie Boutique

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Company%20Profile
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The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

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Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Rating: 4/5
The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

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The%20Kitchen
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The biog

Favourite colour: Brown

Favourite Movie: Resident Evil

Hobbies: Painting, Cooking, Imitating Voices

Favourite food: Pizza

Trivia: Was the voice of three characters in the Emirati animation, Shaabiyat Al Cartoon

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.”

The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
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