Demonstrators protest against the appointment of Supreme Court nominee Brett Kavanaugh at the US Capitol in Washington DC. Roberto Schmidt / AFP
Demonstrators protest against the appointment of Supreme Court nominee Brett Kavanaugh at the US Capitol in Washington DC. Roberto Schmidt / AFP

Kavanaugh marks a return to a distant patriarchal time



I write in reference to Hussein Ibish's opinion piece Kavanaugh's confirmation is just the start of this sorry story (October 8). The Brett Kavanaugh confirmation is a clear-cut example of defeat for women not only in the US, but elsewhere as well, as the #MeToo movement gathers momentum in the aftermath of the Harvey Weinstein revelations.

The appointment of Mr Kavanaugh, bolstered by a defensive President Donald Trump, once again hints at a presidency that has tarnished, politically and morally, the image of the US. While on the one hand, comedian Bill Cosby has been jailed for his history of sexual assault and Harvey Weinstein castigated for his behaviour, a Supreme Court judge in waiting has trumped his accuser, leaving women across the world stunned as the race for parity between the two sexes takes a leap backwards into the patriarchal age.

AR Modak, Johannesburg

Low-skilled governance is all too prevalent today

I refer to your article Politicians could learn a lesson from ancient Rome and know when to quit (October 8). Gavin Esler's article was meaningful and extremely accurate. He offers an excellent run down of governance failures in many places and sheds light on some of history's most talented leaders, such as Cincinnatus of Rome, who is still being talked about to this day. It is, indeed, very possible that the legendary Roman leader of 2,000 years ago inspired the likes of George Washington of the US and Charles de Gaulle of France. Mr Esler is correct that low-skilled governance is all too prevalent today and those incapable of running modern nations should know when to stop.

K Ragavan, Bengaluru

Adverse effects are not always related to drug trials

Please refer to Neha Dixit's column India must not become a medical laboratory for the world (October 7). Cases of serious adverse effects, such as death and prolonged hospitalisation, are sadly inevitable. But whether these are related to the drugs being tested and the timeline within which they are reported should be the chief concern, because the same trials are ongoing in the US and across world.

Name withheld by request

The Houthis must focus on peace rather than destruction

I write in reference to your front-page story Houthis starve residents to push up prices (October 8). The Houthis are ignorant and arrogant. But the blame rests directly on Iran, which has armed them. Their crimes will achieve nothing but death and devastation in Yemen.

Name withheld by request

Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
  • Drones
  • Animals
  • Fireworks/ flares
  • Radios or power banks
  • Laser pointers
  • Glass
  • Selfie sticks/ umbrellas
  • Sharp objects
  • Political flags or banners
  • Bikes, skateboards or scooters
A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

OPTA'S PREDICTED TABLE

1. Liverpool 101 points

2. Manchester City 80 

3. Leicester 67

4. Chelsea 63

5. Manchester United 61

6. Tottenham 58

7. Wolves 56

8. Arsenal 56

9. Sheffield United 55

10. Everton 50

11. Burnley 49

12. Crystal Palace 49

13. Newcastle 46

14. Southampton 44

15. West Ham 39

16. Brighton 37

17. Watford 36

18. Bournemouth 36

19. Aston Villa 32

20. Norwich City 29

 

 

 

 

 

 

'Of Love & War'
Lynsey Addario, Penguin Press

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

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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

Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia

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.”

SPECS
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RESULT

Al Hilal 4 Persepolis 0
Khribin (31', 54', 89'), Al Shahrani 40'
Red card: Otayf (Al Hilal, 49')

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COMPANY%20PROFILE
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