If you are considering buying a new car, now would be the perfect time to do so. During Ramadan, all the major car dealers launch special offers to lure in buyers during what would otherwise be a relatively slow retail period. From Volkswagen to Ford to Lotus to Porsche, there are a plethora of bargains to take advantage of. Last week, the Money section rounded up three of the best deals on offer. But to top that up, here are 10 of the best offers available until the end of the Holy Month.
1 Kia
The deal: Buyers of a 2015 Kia Picanto, Cerato or Soul model, will receive free electronic gifts such as a 40" LED Samsung TV, a free servicing package and 12 months of free insurance. Those buying a Sportage or Carens will receive a free Samsung Tab 3 with Wi-Fi plus one-year's insurance and those interested in a Cadenza, Sorento or Mohave will receive a smartphone and the choice of a two-year service pack or one year's insurance. Finally those buying a Quoris can drive away with one year's free insurance and a free smartphone. There are also discounts of Dh20,000 on a number of 2014 models for those that want to grab a bargain.
Take note: The showroom's operation hours during Ramadan are 9am to 2pm or 8.30pm until midnight.
2 Toyota
The deal: Anyone buying a new Toyota during Ramadan will receive a free upgrade. For example a customer buying a 4.6L Cruiser GXR for Dh243,000 could automatically be upgraded to a VXR model worth Dh287,000. Toyota has also launched a Limited Platinum Edition of the all-new Corolla priced at just Dh68,500 for the 1.6L or Dh68,900 for the 2.0 model. For the Platinum Edition Corolla, buyers can enjoy special features such as two tone leather seats, rear parking sensors, Bluetooth connectivity and 3M window tinting.
Take note: The Limited Platinum Edition model is available for a limited period.
3 Volkswagen
The deal: Buyers have the choice of two deals this Holy Month: the Value Package offer and the Cash Offer. For the Value Package offer, buy any Volkswagen from Al Nabooda Automobiles and receive one year's free insurance, five years of free servicing or until 75,000 kilometres, five years of roadside assistance, free registration and a five-year warranty. There are also gift boxes on offer and a petrol card voucher worth Dh500. For the Cash Offer, motorists can enjoy discounts of up to Dh22,000, a five-year free warranty with unlimited mileage, three years of free servicing up to 45,000km and three years of roadside assistance.
Take note: This deal is available from now until the end of the Holy Month.
4 Ford
The deal: Drive away in the 2014 Ford Fusion from Dh80,000 or the Ford Taurus, starting from Dh95,000, from Al Tayer Motors and receive three years of free servicing or up to 60,000km (whichever comes first), a five-year warranty, roadside assistance and one year's free insurance. Up to four months of deferred finance payments is also on offer.
Take note: The promotion can be withdrawn at any time without notice.
5 BMW
The deal: All 2014 BMW models bought from AGMC showrooms this Ramadan come with free one year's car insurance, BMW Service Inclusive package as well as a five year complimentary subscription to BMW Connected Drive features. In addition, customers purchasing the 2014 BMW X6 Sports Activity Coupé, can enjoy an unprecedented unlimited mileage warranty. Those buying a BMW 1, 3 or 5 Series will also receive an upgraded BMW Service Inclusive package.
Take note: The offer is valid until July 28 and subject to availability.
6 Mitsubishi
The deal: Mitsubishi brand holder Al Habtoor Motors is offering five years free 0 per cent finance on all SUV's such as Pajero, ASX and Outlander this Ramadan. They are also offering low deposits and low finance on all sedans and hatchbacks which include the Mirage, Attrage and Lancer Ex. 100 winners will also walk away with Dh10,000 in cash.
Take note: Only borrow what you can afford to pay back.
7 Lotus
The deal: Buy a Lotus from Trading Enterprises with monthly installments starting at Dh3,999. The offer comes with two years' free insurance, two years' free registration, two years' Lotus Service Care and two years' guaranteed future value exchange.
Take note: Terms and conditions apply
8 Volvo
The deal: Buy a Volvo XC60 or XC90 (the XC60 T5 Sport is available from Dh129,900 and the XC90 AWD Sport from Dh159,900) this Holy Month and receive free servicing until 60,000km, a five-year warranty and a zero downpayment option on finance. Both models also come with a two-year buyback option and 24-hour roadside assistance.
Take note: Terms and conditions apply.
9 MINI
The deal: MINI fans can enjoy special offers on the 2014 Paceman, Countryman and Hatch, including one year's insurance and free registration. The MINI Paceman and MINI Countryman will also be offered with an upgraded MINI Service Inclusive Package for five years or 70,000km (whichever comes first).
Take note: The sales team will only be available from 9am to 2pm and from 9pm to 12am.
10 Porsche
The deal: Buy a Porsche Panamera from Al Nabooda Automobiles starting at Dh3,990 per month and receive five years or 105,000km of free servicing, a four-year Porsche warranty, 0 per cent interest on finance for two years, one year's free insurance and a gift voucher.
Take note: Opening hours for the Porsche Centre Dubai and the Porsche Approved Centre Dubai showroom is from 10am to 2pm and from 8pm to midnight.
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Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Company%20Profile
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
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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.”
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
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