A reader calls for more support for start-up ventures. Anna Nielsen for The National
A reader calls for more support for start-up ventures. Anna Nielsen for The National

Start-ups need more support



I refer to the news report New UAE businesses held back by need to rent office space (January 26).

Given that postal addresses in the country are all post box numbers, there is no real need to have dedicated office premises for many types of businesses. Web and graphic designers, consultants and writers are some of the examples.

So long as the businesses are not in conflict with the residential nature of the area, they can be operated from private homes. Start-ups the world over easily and cost-effectively convert spare rooms to home offices until turnover and staff levels grow to justify the overhead of business premises.

Alternatively, look at developing the incubator model and affordable rents to attract investment and new business growth.

SMEs are the lifeblood of a growing economy.

Sheena Thomson, Dubai

Treatment timing is not so important

In reference to your report Abu Dhabi hospitals hit their waiting time target (January 27), I would hope that care is based on quality and triage requirements, rather than treatment and discharge timing.

Tracy Wilson, Abu Dhabi

Mockery could help curb dowry

For decades, various efforts to abolish dowry have proven futile (Mockery might correct some social ills in India, January 27). So why not try this method? It's a blot on the face of India, which claims itself to be modern and progressive.

K Ragavan, India

How to solve littering problem

There are ways to stop littering (Let’s change the culture of littering, January 25). The first step is anti-littering education. It ought to begin with small children at school and continue through high school.

The second step is to increase the number of rubbish bins and the frequency of emptying them.

The leaders of the UAE did not provide abundant opportunity to people to turn this country into a rubbish dump.

Everyone needs to show the proper level of respect and those that don’t should expect to be punished.

Owen Neale, Iraq

If all street cleaners and office cleaners are sent on vacation for a month, people would soon get fed up with the mess and start clearing it up. Change can only happen if these services are suspended for a while and people can see how much waste they are producing. Maybe it will encourage recycling and help society to be more responsible for their surroundings.

Name withheld by request

The municipality workers should only empty rubbish bins once a week. Let people see what the place would look like if there weren’t people picking up after them.

Katie Marie, Abu Dhabi

Make fire-safety rules stringent

Thank you for the informative and well-researched articles on cladding used in high-rises in Dubai.

They are indeed eye-openers, which I hope will help the community to better understand the related facts and make better and safer decisions in their residences.

In addition to the survey (and possibly fire-safety rating) of buildings that the authorities are undertaking, it is important to impose and enforce more stringent fire-safety regulations, apart from improving the quality of claddings.

These would be based on global best practices and would address issues relating to fire safety installations and practices inside residences, common areas and the many restaurants that deal with many types of equipment on their premises – grills, stoves and ovens.

There don’t seem to be clear enforceable regulations on these. Home owner associations and property management companies could be jointly held accountable for implementing, checking and sustaining these strict fire and fumes regulations by submitting periodic reports to the authorities, as well as conducting periodic compliance checks.

Name withheld by request

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The Kites

Romain Gary

Penguin Modern Classics

Dr Afridi's warning signs of digital addiction

Spending an excessive amount of time on the phone.

Neglecting personal, social, or academic responsibilities.

Losing interest in other activities or hobbies that were once enjoyed.

Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.

Experiencing sleep disturbances or changes in sleep patterns.

What are the guidelines?

Under 18 months: Avoid screen time altogether, except for video chatting with family.

Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.

Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.

Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.

Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.

Source: American Paediatric Association
Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

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Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital

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.”

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

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The biog

Favourite books: 'Ruth Bader Ginsburg: A Life' by Jane D. Mathews and ‘The Moment of Lift’ by Melinda Gates

Favourite travel destination: Greece, a blend of ancient history and captivating nature. It always has given me a sense of joy, endless possibilities, positive energy and wonderful people that make you feel at home.

Favourite pastime: travelling and experiencing different cultures across the globe.

Favourite quote: “In the future, there will be no female leaders. There will just be leaders” - Sheryl Sandberg, COO of Facebook.

Favourite Movie: Mona Lisa Smile 

Favourite Author: Kahlil Gibran

Favourite Artist: Meryl Streep

Like a Fading Shadow

Antonio Muñoz Molina

Translated from the Spanish by Camilo A. Ramirez

Tuskar Rock Press (pp. 310)

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

Tonight's Chat on The National

Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.

Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.

Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.

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