DUBAI// A listings magazine's online feature highlighting "bars to try during Ramadan" has sparked a heated debate among social media users.
Time Out Dubai published the article on its website before the start of Ramadan, but removed it once Twitter users began posting messages using the hashtag #StopTimeOutDubai.
The guide named its "top-five" bars that are open and serving alcohol after sunset.
More than 300 people have tweeted in response, with opinions ranging from outright hostility to puzzlement about all the fuss.
"How disrespectful is that? @TimeOutDubai guide to the Top 5 bars to try during Ramadan," tweeted Khaled Al Fahim.
"@TimeOutDubai reflects a culture that has lost its common courtesy."
Jubara Al Marar wrote: "They think Ramadan is a joke? And giving advice to where should drink in Ramadan. Disrespect."
"Those kind of magazines should be banned from the country as they don't respect the culture and the community."
Time Out Dubai responded by posting an apology on its Twitter account on Monday.
"We would like to apologise for any offence caused by our recent article on the subject of nightlife during Ramadan," it said. "We respect local culture and traditions and this was an error of judgment on our part."
Although the guide was removed, cached copies show that it was initially published on or about July 17. It was replaced with a short article advising people to contact bars and clubs in advance to find out which were open during Ramadan.
Many Twitter users felt the issue had been blown out of proportion.
"Not everyone is fasting or is a Muslim," tweeted one. "I'm a Muslim and fasting proudly, yet I'm not offended by this because I'm simply not associated with this ad."
Others felt once the guide had been removed it should be the end of the matter.
"So, they listened and pulled the article out," said Saad Rabia. "Can everyone put their pitchforks down aside and appreciate how great they are?"
For others, the guide was more likely to be read by tourists than people living in Dubai.
"Timeout readers are mainly tourists, right?" said @AnisaAmrekeeya. "Let them go to the bars and spend, would help the Dubai economy."
Others were bemused by the controversy.
"Why is #stoptimeoutdubai trending?" asked Rachel McArthur. "Come one guys - it was an error of judgment. They've pulled the article. Done! Ramadan Kareem."
Ismail tweeted: "Culturally insensitive - agreed. Realised error in judgment, article taken down, mistake corrected. Move on."
Hassan Galadari, an assistant professor in the department of medicine at UAE University, tweeted: "The magazine already retracted and apologised. We are a forgiving people. Our Prophet and our leaders have taught us that."
nhanif@thenational.ae
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
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)
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
- Spaces for historical and cultural exploration
- 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
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
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.”