DUBAI // Saving the environment can conjure up the idea of big, sweeping measures that for many who live in the UAE seem all but impossible.
But small changes can make a big difference too, say the organisers of an event tomorrow devoted to all things natural and reusable, the Future Green Dubai 2010 exhibition.
The organisers reason that if enough people plugged their mobile phone into a solar charger rather than an electric socket, used products made out of recyclable materials (such as a pen made from what was once paper), ate organically grown food or recycled their household waste, they would have an impact.
"It is not only about Masdar," said the co-organiser, Tatiana Abella, referring to Abu Dhabi's clean energy company. "It is also about the day-to-day choices for people."
The one-day exhibition at Knowledge Village Conference Hall in Dubai will bring under one roof 32 small companies offering items including organic coffee, non-toxic home cleaning products and energy-efficient lighting. Some 400 visitors have registered.
"People are actually looking for this," said Ms Abella, who two years ago co-founded the regional green products online directory Goumbook with a fellow Dubai resident, Randala Anabtawi.
The two women, who joined forces after trying to buy "green" products for themselves, now provide links to more than 700 companies from 24 countries.
Since the event is supported by the Energy and Environment Park, Enpark, it has been able to attract smaller companies and start-ups.
One exhibitor is the emerging Dubai-based company Ekotribe, which is promoting green corporate gifts such as a solar mobile charger and a battery that can be recharged from a USB device. Ekotribe has attracted clients including the Environment Agency - Abu Dhabi, Dubai Silicon Oasis and the Qatar Foundation.
"Private companies are also gradually showing interest in giving green corporate gifts," said Anu Agarwal, the company's director. "However, they need to be educated about the benefits and the availability of products. More than being trendy, green is slowly becoming a must."
Another green entrepreneur is Leena al Abbas, who owns the Zen Beauty Lounge in Discovery Gardens, billed as the country's first eco-friendly salon that not only uses organic or natural products, but also recycles and employs energy- and water-saving techniques.
A vegan and a keen scuba diver, Ms al Abbas called her business "an extension of her lifestyle".
Ms al Abbas said her clients include would-be mothers, women with allergies as well as those who simply "enjoy toxic-free treatments".
Western expatriates are the main clientele for green products, having been introduced to them in their home countries. But Ms al Abbas said the idea is catching on as women from other countries learn more.
"It is about how you can be healthier, how you can save money from energy savings and how you can benefit your children," she said.
Future Green Dubai 2010 runs from 9am to 3pm. Entrance is free.
vtodorova@thenational.ae
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
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Saturday's results
Brighton 1-1 Leicester City
Everton 1-0 Cardiff City
Manchester United 0-0 Crystal Palace
Watford 0-3 Liverpool
West Ham United 0-4 Manchester City
World Cup League Two
Results
Oman beat Nepal by 18 runs
Oman beat United States by six wickets
Nepal beat United States by 35 runs
Oman beat Nepal by eight wickets
Fixtures
Tuesday, Oman v United States
Wednesday, Nepal v United States
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.”
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
Abaya trends
The utilitarian robe held dear by Arab women is undergoing a change that reveals it as an elegant and graceful garment available in a range of colours and fabrics, while retaining its traditional appeal.
MEFCC information
Tickets range from Dh110 for an advance single-day pass to Dh300 for a weekend pass at the door. VIP tickets have sold out. Visit www.mefcc.com to purchase tickets in advance.
Manchester United v Club America
When: Thursday, 9pm Arizona time (Friday UAE, 8am)
Maestro
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RESULT
Everton 2 Huddersfield Town 0
Everton: Sigurdsson (47'), Calvert-Lewin (73')
Man of the Match: Dominic Calvert-Lewin (Everton)
BLACKBERRY
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Dunki
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