The past week saw UAE’s social-media users welcome back the first batch of Emirati troops from Yemen and remember those who have lost their lives in the war. Other dominant issues included the opening of the 34th edition of the Sharjah International Book Fair and the weather.
Return of the soldiers
When UAE tweeters hailed the first batch of soldiers as they returned home on Saturday, they used the Arabic hashtag #Our_Army_is_our_pride.
They also remembered those who laid down their lives in the battlefield by using the hashtag #We_will_never_forget_your_ sacrifice.
Faris Awadh (@farisf9) tweeted: “It’s a historic day, a day to express our pride and loyalty, a day when the homeland embraced its returning heroes.”
Addressing the soldiers, Sultan Al Ameemi (@alameemi) wrote: “Your victories, bravery, sacrifices and heroism have set an example for all of us to follow. We are proud of you.”
Abdulla bin Habtoor’s (@Abinhabtoor) reaction was more dramatic: “We are confused whether to raise our heads in pride or bow in front of your greatness.”
Tareq Helal (@tareqhelal_) thanked the UAE military for its efforts in Yemen.
However, those who sacrificed their lives for their country were not forgotten. Their pictures were shared by many who also prayed for them.
Ahmed Moosa (@ah_moosa) paid his respects, saying: “Your names are engraved in our hearts, your heroism will be studied in schools and your courage will find mention in history books.”
A cultural festival
Book lovers used social media, including Twitter and Instagram, to celebrate the 34th edition of the Sharjah International Book Fair, which began last week and will continue until tomorrow. They used the Arabic hashtag #Sharjah_International_Book_Fair.
While authors shared the titles of their books and told their audience about the timings of their book-signing sessions, readers tweeted pictures of the books they bought and people they met at the fair. Publishers also used social media to publicise their new releases and communicate with buyers.
The popular event received support from high-profile individuals, including Sheikh Rashid bin Humaid (@Rashidbinhumaid), who tweeted: “I was very happy to visit the book fair and walk in a wonderful world of culture, intellect and literature. Thirty-four years of success in supporting reading and the love of books. Despite the convenience of the virtual world that has no limits, the smell of paper and having a book has a unique charm that will always remain.”
Um Abdullah (@um_abdallah11) was clearly: “Even though I came back from the book fair about an hour ago, I would definitely go back if someone would ask. It’s a place where you never get bored.”
Engineer Sara (@SaroonArchitect) shared the same enthusiasm, saying she had to go to get a new bookshelf before heading to the fair. She explained that all the shelves at her home were already full.
AbdulRahman Al Humairy (@AB_alhumairy) was happy to find all the books he wanted, despite arriving late at the venue due to traffic jams.
Dr AbdulAziz Al Hammadi (@dr_al7ammadi) thanked Dr Sheikh Sultan bin Mohammed, the Ruler of Sharjah, for the cultural festival, saying that “inspiration lies in seeing what can’t be seen”.
Rainy day
Many people used social media to share their joy at waking up to cloudy skies and scattered rain yesterday morning.
Using the Arabic hashtag #Rains_of_Grace, people shared live pictures and videos of the cloudy sky and rain-soaked areas, describing them as the signs of “the beginning of the winter season”.
Sharjah Municipality (@ShjMunicipality) was most active in calling on people to report any emergency caused by rainwater by using a dedicated hotline. It also asked people to follow the traffic rules and not to drive fast.
Hinda (@Hindalife) tweeted: “There is rain on the horizon. As if to wash our souls, to calm us down and get us to reflect and fill our hearts with memories.”
Sarah Khamis is on leave
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'Worse than a prison sentence'
Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.
“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.
“They were living in perpetual mystery as to how their futures would pan out, and what that would be.
“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.
“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.
“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”
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
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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
A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
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PAKISTAN v SRI LANKA
Twenty20 International series
Thu Oct 26, 1st T20I, Abu Dhabi
Fri Oct 27, 2nd T20I, Abu Dhabi
Sun Oct 29, 3rd T20I, Lahore
Tickets are available at www.q-tickets.com
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.”
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
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- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
MO
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