A whale shark, nearly six metres long, swims near the surface of the plankton rich water off Donsol town.
A whale shark, nearly six metres long, swims near the surface of the plankton rich water off Donsol town.

Fishing for clues to the whale shark



Cruising the oceans like living submarines, whale sharks, at up to 12 metres long and weighing 21 tonnes, are spectacular animals. As well as their size, they migrate immense distances and can dive to a depth of 1km. "They are free-roaming ocean species, travelling vast distances each year and known to be performing dives at depths of up to 1,000 metres," said Jonathan Ali Khan, a wildlife documentary filmmaker. It is perhaps surprising, therefore, that relatively little is known about this behemoth of the seas, the largest fish in existence. That, however, could soon change. Over the weekend, experts at the two-day First Arabian Seas Whale Shark Research Symposium and Workshop in Fujairah announced that a new database is to be developed in the UAE. It is designed to enhance knowledge of the whale shark, particularly in the Arabian Sea. The event, which ended yesterday, was organised by the Dubai-based Mr Khan. The project will form the Gulf arm of a global whale shark database that is held on a website set up in 2003. The site enables anyone to upload images and details of sightings of these beautiful creatures. So far, the Emirates Diving Association, Sultan Qaboos University in Oman, and the Kuwait Environmental Research and Awareness Group have agreed to administer the site's new branch. Dr David Rowat, the chairman of the Marine Conservation Society in the Seychelles, said the regional database would yield valuable information that could fill a "knowledge gap" about the creatures. "It has been suggested that the Arabian region might be important as a pupping [birthing] or mating ground but, as yet, we do not know," he said. "It is too early to say. It is certainly a missing piece of the jigsaw and that piece could be important." One of the most recent local sightings of a whale shark was in October in the bay off the Emirates Palace hotel. Staff took pictures and videos of the animal, and some later took to local fishing boats to help guide it back out into the Gulf. A whale shark was found off Jebel Ali in September last year and taken to the aquarium of the Atlantis Hotel in Dubai. Whale sharks are listed as at risk of extinction by the International Union for Conservation of Nature. Despite their size, they are filter feeders, living off microscopic plankton in the water. Mr Khan decided to organise the forum after he met leading international marine scientists while filming a documentary on whale sharks that is due out next year. He discovered that very little was known about the animals' behaviour in the Arabian Sea. "I realised soon that the easiest way [to encourage local research] is to create a forum where we can share information and learn first-hand from researchers themselves." At the forum a regional research programme to look into the creatures' migration habits was also established. The global database and website was created by Brad Norman, an Australian marine biologist who attended the forum. He and Jason Holmberg, an IT specialist, developed a computer software tool that can identify individual whale sharks by the unique spot patterns on the skin behind their gills. During the forum, Mr Norman held workshops to show conservationists how to use the software. The global project, with which the regional database will be integrated, is called the Ecocean whale shark photo-id library, and can be found at www.whaleshark.org. As with the new regional database, the project relies on lay people logging on and uploading their pictures of sightings. "The general public can become citizen scientists," Mr Norman said. The library contains more than 24,000 photos from 43 countries taken by divers, fishermen, boat owners and the general public. As late as the mid-1980s there were fewer than 350 confirmed sightings of whale sharks worldwide. The data, Mr Norman said, could help scientists in a number of ways. "You can start doing the science on finding the actual number of whale sharks visiting an actual country. "And, if we continue this from year to year, we can get an idea of whether the numbers are increasing or decreasing. This is a way of tracking whale sharks by using a non-invasive method." vtodorova@thenational.ae

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.”

What is the Supreme Petroleum Council?

The Abu Dhabi Supreme Petroleum Council was established in 1988 and is the highest governing body in Abu Dhabi’s oil and gas industry. The council formulates, oversees and executes the emirate’s petroleum-related policies. It also approves the allocation of capital spending across state-owned Adnoc’s upstream, downstream and midstream operations and functions as the company’s board of directors. The SPC’s mandate is also required for auctioning oil and gas concessions in Abu Dhabi and for awarding blocks to international oil companies. The council is chaired by Sheikh Khalifa, the President and Ruler of Abu Dhabi while Sheikh Mohamed bin Zayed, Abu Dhabi’s Crown Prince and Deputy Supreme Commander of the Armed Forces, is the vice chairman.

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
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