On the Money: Daughter transitions from joined-at-the-hip to joiner



My five-year-old daughter has just joined an after-school gymnastics club. No biggie, I hear you say, but spending Dh850 on a term of body-bending sessions is a big decision when you're unsure if you're going to get value for money on your expenditure. You see, my daughter has a history of only taking part if I do.

Over the years I've had to run next to her on sports day, hold her hand as I stumbled along the international day parade with my toddler son perched on my hip and sit on the stage singing Rudolph the Red-Nosed Reindeer with all her classmates for the annual Christmas concert (not my finest moment).

When I ask why it's so important I have such an active role in her moments of glory, she simply replies: "I'd rather be with you, mummy". Her desire to have me by her side at every opportunity is very endearing, if not a little frustrating at times, but in all honesty it is also much easier on the pocket when it comes to financing her hobbies.

Last year when the school mums happily chatted about which extra-curricular activities their little darlings were enrolled onto, I kept quiet because my little darling wasn't doing anything. When I asked her if she wanted to swim, do ballet, gymnastics or karate (my husband's suggestion, not mine), she simply said no.

And as much as I like demonstrating my proficiency at the demi-plié, swimming a length of the pool in my pyjamas or doing the odd handstand or cartwheel (I can still master them - just!) - it's not something I want to do all over again with a group of five-year-olds. Plus, I've no doubt most teachers would have an issue with my oversized presence in their class.

And there's no point forcing my daughter into taking part because unlike many children who say no, but really mean yes, her nos are most definitely a no. Rather than follow the crowd she has always been quite happy to sit on the sidelines and do her own thing, which is exactly what happened at gymnastics club.

Despite taking her best pal along, who enthusiastically threw himself into a series of back-breaking manoeuvres on the gym mat, my daughter spent 10 minutes urging me to take part which, of course, was never going to happen.

When I was ordered away from the mat by the firm-but-fair instructor, my daughter sat on a bench refusing to get involved before bursting into tears and demanding to go home.

Thankfully I'd already negotiated a one-class-only fee in case she baulked at the first session, because a Dh60 failed session is easier to swallow than an unattended Dh850 term. So as my daughter wept on my lap, I reminded myself that just because other children like to get stuck into every activity that comes their way doesn't mean my precious little bundle does.

I recalled the two years of babysplash classes where I was desperate to teach my daughter how to swim by the age of six months (something I now know is nigh on impossible). I stopped going because I could not bear the screams of horror every time the teacher encouraged her to swim away from me to her.

On reflection, my daughter's over-vocal honesty about what she does and doesn't want to do has probably saved me a fortune over the years.

Rather than spending hundreds of dirhams on ballet uniforms, leotards or karate suits, let alone the class fees, I have gone for the cost-saving/stress-free option and taught my daughter to swim and master a forward roll myself.

Had I been as honest as my daughter with my own parents, they too could have saved a tidy sum in unwanted piano lessons. From the age of eight until 13, I dutifully trudged over to my weekly piano lesson with the slightly-scary Miss Phillips where I pounded out a painful rendition of When the Saints Go Marching In and listened to the tut-tuts of my teacher who knew full well I hadn't hit a single key since our session the previous week.

When I failed grade one in my fifth year of lessons, (yes, that's right, fifth year) I decided to fess up to the parents - particularly my mother, an accomplished piano player herself - about my lack of talent as well as my blatant lack of interest.

Worried about accusations of lacking commitment, I was surprised when my mother's only comment was: "Why didn't you tell me before? We thought you liked them - they cost a fortune."

It never crossed my mind that my parents would rather I was happy not playing a musical instrument than unhappily attempting to master one. Apart from the fact they simply wanted me to enjoy any hobbies I decided to take up, they didn't want to pay for something I clearly gained nothing from.

As it was, at the aforementioned gym class, my daughter surprised me. After crying in my lap for five minutes, I gently explained to her that the class had cost mummy a lot of money and if she didn't want to take part that was fine, but we would go home and leave her enthusiastic pal to it.

With that, my daughter sat bolt upright and slowly made her way to rejoin the group. A further five minutes was spent holding the instructor's hand - who patiently urged her to get stuck in despite her persistent shakes of the head - until amazingly, she was on the mat demonstrating her prowess at doing the bridge. Punching the air silently in delight, I crept out of the gym to watch the remainder of the class through the glass door for fear I might be called upon for the cartwheel demonstration.

At the end of the session, she skipped out and exclaimed: "Mummy, that was really fun. Why did it have to end so soon?" Are you serious, I thought to myself.

I may have only committed to one class, but I'll pay for the second and then who knows I might go crazy and shell out for the whole term.

US%20federal%20gun%20reform%20since%20Sandy%20Hook
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The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

The Brutalist

Director: Brady Corbet

Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn

Rating: 3.5/5

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.”

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

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
THE SPECS

Cadillac XT6 2020 Premium Luxury

Engine:  3.6L V-6

Transmission: nine-speed automatic

Power: 310hp

Torque: 367Nm

Price: Dh280,000

Results

1. Mathieu van der Poel (NED) Alpecin-Fenix - 3:45:47

2. David Dekker (NED) Jumbo-Visma - same time

3. Michael Morkov (DEN) Deceuninck-QuickStep   

4. Emils Liepins (LAT) Trek-Segafredo

5. Elia Viviani (ITA) Cofidis

6. Tadej Pogacar (SLO UAE Team Emirates

7. Anthony Roux (FRA) Groupama-FDJ

8. Chris Harper (AUS) Jumbo-Visma - 0:00:03

9. Joao Almeida (POR) Deceuninck-QuickStep         

10. Fausto Masnada (ITA) Deceuninck-QuickStep

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.

Match info

Athletic Bilbao 0

Real Madrid 1 (Ramos 73' pen)

'Panga'

Directed by Ashwiny Iyer Tiwari

Starring Kangana Ranaut, Richa Chadha, Jassie Gill, Yagya Bhasin, Neena Gupta

Rating: 3.5/5

Pakistan World Cup squad

Sarfraz Ahmed (c), Fakhar Zaman, Imam-ul-Haq, Abid Ali, Babar Azam, Haris Sohail, Shoaib Malik, Mohammad Hafeez(subject to fitness), Imad Wasim, Shadab Khan, Hasan Ali, Faheem Ashraf, Junaid Khan, Shaheen Shah Afridi, Mohammad Hasnain      

Two additions for England ODIs: Mohammad Amir and Asif Ali

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THE DETAILS

Director: Milan Jhaveri
Producer: Emmay Entertainment and T-Series
Cast: John Abraham, Manoj Bajpayee
Rating: 2/5

Various Artists 
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
​​​​​​​

The%20specs
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How it works

Each player begins with one of the great empires of history, from Julius Caesar's Rome to Ramses of Egypt, spread over Europe and the Middle East.

Round by round, the player expands their empire. The more land they have, the more money they can take from their coffers for each go.

As unruled land and soldiers are acquired, players must feed them. When a player comes up against land held by another army, they can choose to battle for supremacy.

A dice-based battle system is used and players can get the edge on their enemy with by deploying a renowned hero on the battlefield.

Players that lose battles and land will find their coffers dwindle and troops go hungry. The end goal? Global domination of course.