Santa and his elves giving out presents to the children that wrote him letters at Galleria Mall, Abu Dhabi. Khushnum Bhandari / The National
Santa and his elves giving out presents to the children that wrote him letters at Galleria Mall, Abu Dhabi. Khushnum Bhandari / The National


For the love of Christmas



December 23, 2021

With reference to Kamal Tabikha's article Cairo celebrates Christmas with Santa Claus, twinkling lights and reindeer antlers (Dec 21): I love the spirit of Christmas, the feeling of shared humanity, the festive lights, all the pomp and fuss. It all shows that people do make an effort to make others happy. Regardless of the religious aspect, any occasion that brings people together, adds smiles and joy should be celebrated. Here's to a safe, festive and happy holiday season to us all.

Fathima Sayed, Johannesburg, South Africa

It's never too late. A businesswoman in her '90s

With reference to your article Meet the Indian grandmother who started a business at 90 (December 20): she is certainly an inspiration to us all.

Hema Mehra, Mumbai, India

This is such a motivation for people who think their time has past. Salute.

Dr Sarita Mehta, Jaipur, India

Such determination and firmness in an elderly lady is wonderful to see. She is a role model for younger people. More than that, at age 95, Harbhajan Kaur, is a good example for people closer to her age or even a few decades younger.

Abdul Qayoom, Srinagar, India

Let's do more for animals and the climate

With reference to Robert Tollast's story Images of dead giraffes highlight Kenya climate crisis (December 14): this is tragic, and to think it might be only the beginning of the climate change disaster. The world needs to do a much better job of caring for our wildlife.

Saima Anwar, Karachi, Pakistan

A privacy check on social media – not a bad thing?

With reference to Evelyn Lau's report Facebook's 'Lock Your Profile' feature has come to the UAE (December 21): it also makes it difficult when adding people to Fb groups. A locked profile may not get you access.

Rachael Partington, Abu Dhabi

The revealing choices and taxes of Elon Musk

With reference to Alvin R Cabral's report Elon Musk to pay more than $11bn in taxes this year (December 20): I found the details in this report interesting. Elon Musk is a fascinating man in any case. His reply to Elizabeth Warren was intriguing. He said he does not draw a salary from either SpaceX or Tesla. Just as an experiment, it would be insightful to see what the government would spend that $11 bn of tax on – would be informative to see a breakdown of expenditure, versus a comparison of what Elon Musk would do with that money and what that might mean for Bitcoin or space flights, if anything. Mr Musk likes to take risks. Maybe there is something to be learnt from his courage.

Andre Van De Haar, Port Elizabeth, South Africa

Company Profile

Company name: Yeepeey

Started: Soft launch in November, 2020

Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani

Based: Dubai

Industry: E-grocery

Initial investment: $150,000

Future plan: Raise $1.5m and enter Saudi Arabia next year

TOUCH RULES

Touch is derived from rugby league. Teams consist of up to 14 players with a maximum of six on the field at any time.

Teams can make as many substitutions as they want during the 40 minute matches.

Similar to rugby league, the attacking team has six attempts - or touches - before possession changes over.

A touch is any contact between the player with the ball and a defender, and must be with minimum force.

After a touch the player performs a “roll-ball” - similar to the play-the-ball in league - stepping over or rolling the ball between the feet.

At the roll-ball, the defenders have to retreat a minimum of five metres.

A touchdown is scored when an attacking player places the ball on or over the score-line.

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.”

The bio

Who inspires you?

I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist

How do you relax?

Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.

What is favourite book?

The Perks of Being a Wallflower - I think I've read it more than 7 times

What is your favourite Arabic film?

Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki

What is favourite English film?

Mamma Mia

Best piece of advice to someone looking for a career at Google?

If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.  

 

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COMPANY%20PROFILE
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The National Archives, Abu Dhabi

Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.

Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en

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Vidaamuyarchi

Director: Magizh Thirumeni

Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra

Rating: 4/5

 

Results

ATP Dubai Championships on Monday (x indicates seed):

First round
Roger Federer (SUI x2) bt Philipp Kohlschreiber (GER) 6-4, 3-6, 6-1
Fernando Verdasco (ESP) bt Thomas Fabbiano (ITA) 3-6, 6-3, 6-2
Marton Fucsovics (HUN) bt Damir Dzumhur (BIH) 6-1, 7-6 (7/5)
Nikoloz Basilashvili (GEO) bt Karen Khachanov (RUS x4) 6-4, 6-1
Jan-Lennard Struff (GER) bt Milos Raonic (CAN x7) 6-4, 5-7, 6-4

Updated: February 18, 2022, 9:51 AM