Tom & Serg.
Tom & Serg.

Foodie News: Dubai



Head to Izel, the Latin American supper club at the Conrad Dubai for the Taste of Peru food festival. Guests will savour a set menu that highlights the best of Peruvian cuisine. Signature dishes include ceviche, causa de pollo (chicken and yellow potatoes) and mero en costra de frijol (crusted grouper with beans). The set menu is Dh350 per person. From September 22 — 26, 7:30pm to 1am, 04 444 7111.

Celebrate Mexican Independence Day at Maya Modern Mexican Kitchen & Lounge at Le Royal Meridien Beach Resort and Spa. Now through September 22, diners can taste traditional Mexican dishes that have been added to the menu for a limited time. Try the tamale de elote (steamed corn tamale with blueberries, cinnamon ice cream and hibiscus sauce). From 7pm — midnight, 04 316 5550, www.maya-dubai.com.

Guest chef Siraj Khan from Trident, Hyderabad is cooking up Indian cuisine at Ananta at The Oberoi hotel. Legend says there are only six chefs alive who can cook an authentic kacche gosht ki biryani. Chef Siraj is one of them. Taste it along with his other signature dishes through September 26. The degustation menu is available for Dh330 each night from 7pm — 11:30pm. An A la carte menu is also available. 04 444 1407.

Check out Mum Mum, the new healthy fast food restaurant for kids that’s just opened on the Sharjah Waterfront in the Al Fisht district. The restaurant caters to kids and serves healthy meals endorsed by an internationally-certified nutritionist. Although the menu items are prepared for children, there are lots of bites and nibbles for parents as well. Aimed at toddlers and kids up to age 12, the restaurant has a movie theatre, a bouncy room, an outdoor garden area for kids to grow their own fruits and veggies and a place where kids can learn to make healthy food. Mum Mum is set to expand to several locations throughout Sharjah and Dubai, including pop-up stalls in public venues, parks, schools and malls. Mum Mum is located in villa 5 on Al Muntazah Street in Al Fisht, Sharjah. For more information, call 06 747 2823.

Rule the Roast is back at Tom & Serg. The popular roasts were served during Ramadan and the team has brought them back due to high demand. Starting on Tuesday, September 30, you can get roasted meat and fish with all the trimmings and gravy from Dh95. Choose from beef, chicken, lamb, fish or a vegetarian roast. And of course, all come with an array of sides. From 6pm — 10pm. Call 056 474 6812 or visit www.ruletheroastdubai.com.

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Blackpink World Tour [Born Pink] In Cinemas

Starring: Rose, Jisoo, Jennie, Lisa

Directors: Min Geun, Oh Yoon-Dong

Rating: 3/5

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BORDERLANDS

Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis

Director: Eli Roth

Rating: 0/5

Du Football Champions

The fourth season of du Football Champions was launched at Gitex on Wednesday alongside the Middle East’s first sports-tech scouting platform.“du Talents”, which enables aspiring footballers to upload their profiles and highlights reels and communicate directly with coaches, is designed to extend the reach of the programme, which has already attracted more than 21,500 players in its first three years.

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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
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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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