App keeps tabs on UAE diabetics' levels



DUBAI // Diabetics might think they have heard it all when it comes to the gizmos and gadgets rolled out to help manage their disorder, but the latest innovation takes glucose monitoring to the clouds.

The Sensei system, which may soon be available in the UAE, uses a Bluetooth-enabled glucose monitor and a smartphone app to gather and securely store information about a diabetic's insulin levels online, using a cloud-based system.

The patient's doctor can then monitor insulin levels remotely, and over a long period of time, to identify where a diabetic may be going wrong.

The app also gives users a daily menu to encourage healthy eating.

This system is being brought to the UAE by Kenneth Seymens and Yolanda Esparza, husband-and-wife IT veterans from California's Silicon Valley. Their Dubai-based company, MedicaIQ, has acquired the Middle East and North Africa rights.

The system would be the first of its kind in the region when a pilot scheme is launched.

Mr Seymens said his wife and he are is in talks with telecom, pharmaceutical, medical and software companies as possible partners.

For roll-out, the couple is hoping to partner with large employers, health insurance companies and health authorities, who could label the system as their product.

The UAE has the second highest level of diabetes in the world with a rate of 19.5 per cent, according to the International Diabetes Federation. (Only the Pacific island of Nauru has a higher rate.)

Dr Mina Milovanovic, a diabetes specialist at a Dubai clinic, said: "This app is a good idea as long as the doctor monitoring it can dedicate enough time to talk to that person and say, 'Look, your glucose readings are high today, what happened? Are you having a cold, or are you not eating correctly?'

"The diet side sounds good if the programme is well done and the nutritional facts are correct. Diabetics that need to use their insulin prior to their meals are quite aware of what they should be eating, but not everyone's compliant.

"If this is going to make them compliant, fine, but is it going to lock up their refrigerator?"

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Red card: Rodrigo Bentancur (Juventus)

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2.30pm: Al Shafar Investment – Conditions (TB) Dh100,000 (D) 1,400m; Winner: Desert Wisdom, Bernardo Pinheiro, Ahmed Al Shemaili

3pm: Commercial Bank of Dubai – Handicap (TB) Dh68,000 (D) 1,200m; Winner: Fawaareq, Sam Hitchcott, Doug Watson

3.30pm: Shadwell – Rated Conditions (TB) Dh100,000 (D) 1,600m; Winner: Down On Da Bayou, Xavier Ziani, Salem bin Ghadayer

4pm: Dubai Real Estate Centre – Maiden (TB) Dh60,000 (D) 1,600m; Winner: Rakeez, Patrick Cosgrave, Bhupat Seemar

4.30pm: Al Redha Insurance Brokers – Handicap (TB) Dh78,000 (D) 1,800m; Winner: Capla Crusader, Bernardo Pinheiro, Rashed Bouresly

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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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