Mansour Cheikh El Ard, owner of Granny's Waffles with his parents at the Dubai Mall in Dubai. He allowed his tenant stay rent-free in a villa. Pawan Singh / The National
Mansour Cheikh El Ard, owner of Granny's Waffles with his parents at the Dubai Mall in Dubai. He allowed his tenant stay rent-free in a villa. Pawan Singh / The National
Mansour Cheikh El Ard, owner of Granny's Waffles with his parents at the Dubai Mall in Dubai. He allowed his tenant stay rent-free in a villa. Pawan Singh / The National
Mansour Cheikh El Ard, owner of Granny's Waffles with his parents at the Dubai Mall in Dubai. He allowed his tenant stay rent-free in a villa. Pawan Singh / The National

This landlord can teach us a thing about compassion


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With reference to Anam Rizvi's story Coronavirus: Dubai landlord hailed a hero after offering tenant Dh100,000 rent reprieve (November 12): it is often in times of adversity that we learn about the kindness of strangers. And we have a responsibility to pay it forward when we are able, to allow such unconditional support to open our worlds and make us more compassionate.

Mr El Ard is a hero, indeed deserving of praise and support, as are others who help out in their own way. Here's sending a warm thought for all of those who are doing what they can to help others, no matter how small it might seem. We will all have to live with the decisions we make during this fraught period in history.

Name withheld upon request, Dubai

Vaccine should be made available to developing nations too 

With reference to Simon Rushton's report UK snaps up Moderna's Covid-19 vaccine in bid to immunise 2.5 million people (November 16): as the world expects a vaccine to counter the spread of the coronavirus, there is anxiety about its availability and how long the process is likely to take. Even though we don't know the time frame, that it is on the horizon gives comfort to a lot of people, especially the elderly and people with underlying health issues. However, developed countries with advanced medical facilities must support developing nations with large vulnerable communities, who may not be able to afford the vaccine in large quantities.

Ramachandran Nair, Muscat

Happy Independence Day, Suriname

This is with reference to my country, Suriname, mentioned in the article Amazon countries meet to bolster rainforest protection (September 7, 2019): living in Dubai for two years, everyday I have to tell people where Suriname is. It is the same for the other 25-30 Surinamese I know who live here. Unfortunately, we do not yet have an embassy or consulate in the UAE and nobody seems to really know about our beautiful land.

Some readers may wonder what or where Suriname is. It is the smallest country in South America, a very fertile land in the north between Guyana and French Guyana and above Brazil and 95 per cent of it is tropical rainforest.

The small population of about 600,000 people are descendants of Africans, Indians, Chinese, Javanese and of course the indigenous inhabitants, indigenous American Indians. And I just wanted to share with readers that on November 25, the Republic of Suriname will celebrate its 45th independence day.

Cathrin Carter Judell, Dubai

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The Brutalist

Director: Brady Corbet

Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn

Rating: 3.5/5

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

Three ways to get a gratitude glow

By committing to at least one of these daily, you can bring more gratitude into your life, says Ong.

  • During your morning skincare routine, name five things you are thankful for about yourself.
  • As you finish your skincare routine, look yourself in the eye and speak an affirmation, such as: “I am grateful for every part of me, including my ability to take care of my skin.”
  • In the evening, take some deep breaths, notice how your skin feels, and listen for what your skin is grateful for.

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 Sheikh Zayed Future Energy Prize

This year’s winners of the US$4 million Sheikh Zayed Future Energy Prize will be recognised and rewarded in Abu Dhabi on January 15 as part of Abu Dhabi Sustainable Week, which runs in the capital from January 13 to 20.

From solutions to life-changing technologies, the aim is to discover innovative breakthroughs to create a new and sustainable energy future.

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The schedule

December 5 - 23: Shooting competition, Al Dhafra Shooting Club

December 9 - 24: Handicrafts competition, from 4pm until 10pm, Heritage Souq

December 11 - 20: Dates competition, from 4pm

December 12 - 20: Sour milk competition

December 13: Falcon beauty competition

December 14 and 20: Saluki races

December 15: Arabian horse races, from 4pm

December 16 - 19: Falconry competition

December 18: Camel milk competition, from 7.30 - 9.30 am

December 20 and 21: Sheep beauty competition, from 10am

December 22: The best herd of 30 camels

Indoor cricket in a nutshell

Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

Side nets between halfway and the bowlers end: 2 runs

Back net: 4 runs on the bounce, 6 runs on the full