In the dark over new bulbs? Here’s the light way to go



ABU DHABI // So now incandescent bulbs are set for the switch off, what next for people faced with a dazzling array of new bulbs?

Jesus Gutierrez, the co-managing director of Smart4Power, said the price of a typical 60W incandescent bulb was only Dh1 to Dh2, but on average consumes four times more electricity than its compact fluorescent lamp (CFL) counterpart and six times more than a comparable light-emitting diode (LED).

“An incandescent bulb than runs six hours per day will burn out in just six months. With the same daily use, a CFL will last 3.5 years and a LED bulb 14 years,” Mr Gutierrez said, whose company advises on office and home energy efficiency.

The CFL tends to be the natural replacement for low-use lamps or when looking at a short payback period, whereas the LED becomes more attractive for intensive use and longer term return, he said.

“Halogen is not recommended given its short life and relatively low efficiency as compared to CFL and LED,” he said.

Bulbs have usually been identified by wattage, a measure of electricity, but the amount of light a bulb generates is known as lumens.

When choosing the replacement for incandescent bulbs, in addition to selecting the right technology, it is very important to check bulb features such as lumens, light colour (warm/cold), beam angle, bulb base (screw-in, pin), volts (12V/220-240V), and whether it is dimmable or not, he said.

Mohamed Imran Nehal, manager at the Mohammed Yakub Nur Electrical Trading shop in Abu Dhabi, said a CFL bulb can generate five times more light, or lumens, than conventional incandescent bulbs.

He also advised there is specific rule on CFLs having a warranty of up to four years, but companies define their rules in very small letters and most customers don’t know about that, which reads: “use them for 5.5 hours a day”.

If you keep them switched on for the entire day, the company is not responsible if it blows, he said.

anwar@thenational.ae

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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.”

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How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.