Traffic is generally very heavy in Dubai. Antonie Robertson / The National
Traffic is generally very heavy in Dubai. Antonie Robertson / The National

Will the new Salik gate bring relief to our congested roads?



I have been raised in Dubai all my life and if we look at the massive developments that have taken place over the years, it is impressive. However, I do feel the Salik system set up in 2007 with the aim of reducing traffic congestion on the roads could still be improved.

I would like to know, for example, why Salik isn’t free on Fridays and other public holidays? The Floating Bridge is closed after 10pm while the Salik gate at Maktoum Bridge is free after 10 pm. I pity those who have to do a daily commute passing through these gates.

Luckily because it is now summertime and as many have packed their bags and gone on long holidays, we can see a little relief on the road.

Nevertheless, during peak hours the traffic has not improved. Most drivers respect the law but I worry if they try to avoid using Salik that the other roads might become clogged.

We all want to reach work on time. Motorists who leave their homes in Sharjah early in the morning face the brunt of going through daily traffic snarls as the Sharjah-to-Dubai road comes to a standstill. I hope the changes brought in will really make a difference on our roads.

Mathew Litty, Dubai

Due process is needed to deal with migrants on the border

I write regarding your story Assam Muslims fear exclusion from India's new citizenship list (July 22): it was an interesting read.The government of the ruling National Democratic Alliance coalition, led by the BJP, is right to take action on the issue of illegal immigrants on the state border. The government is encouraging people to produce legal documents   and for anyone who doesn't, I believe they will look into the issue in a fair manner.

It is right that migrants from Bangladesh  should have to prove their status. Today illegal immigration is a big challenge facing the global community.

K Ragavan, Denver

One kind readers offers Gussy a furry tale ending

Regarding your story Save Gussy: cat abandoned at Abu Dhabi bus stop waits months for owners to return (July 22), thanks for sharing such a story which was so lovely and sad at the same time.

I live in Dubai and would love to share my life with him.

I live in a very big villa and once rescued one kitten from the streets in Abu Dhabi but he was very sick and sadly couldn’t make it, despite my best efforts. It was very tough. These animals need our love.

Claudio Inove, Dubai

WhatsApp must find a way to prevent mob violence

In reference to your article WhatsApp curbs India service after lynchings (July 21): the company must devise a mechanism to filter fake news. Recent lynchings in India perpetuated by mobocracy have rightly destroyed people's confidence in WhatsApp.

Name withheld by request

 

Company: Instabug

Founded: 2013

Based: Egypt, Cairo

Sector: IT

Employees: 100

Stage: Series A

Investors: Flat6Labs, Accel, Y Combinator and angel investors

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The specs

Engine: 3-litre twin-turbo V6

Power: 400hp

Torque: 475Nm

Transmission: 9-speed automatic

Price: From Dh215,900

On sale: Now

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: 2018 Nissan Altima


Price, base / as tested: Dh78,000 / Dh97,650

Engine: 2.5-litre in-line four-cylinder

Power: 182hp @ 6,000rpm

Torque: 244Nm @ 4,000rpm

Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

RESULT

Manchester United 2 Burnley 2
Man United:
 Lingard (53', 90' 1)
Burnley: Barnes (3'), Defour (36')

Man of the Match: Jesse Lingard (Manchester United)

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
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The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

The Word for Woman is Wilderness
Abi Andrews, Serpent’s Tail

THE BIO

Favourite place to go to in the UAE: The desert sand dunes, just after some rain

Who inspires you: Anybody with new and smart ideas, challenging questions, an open mind and a positive attitude

Where would you like to retire: Most probably in my home country, Hungary, but with frequent returns to the UAE

Favorite book: A book by Transilvanian author, Albert Wass, entitled ‘Sword and Reap’ (Kard es Kasza) - not really known internationally

Favourite subjects in school: Mathematics and science