With reference to your Turkey and Syria earthquake coverage: live updates (February 9): my heart is so heavy seeing the image of the father holding his dead daughter's hand.
Abad Pino Yan, Abu Dhabi
My thoughts and prayers are with the people of Turkey and Syria as they try to come to terms with this terrible tragedy. My heart goes out to all those who have lost loved ones or who are waiting on news of family members who are missing. The scenes of the aftermath of the earthquake are just heartbreaking and I want to send a message of solidarity and support to all those involved in the rescue operations.
Dr Mohd Wasim Ghori, Ahmedabad, India
I remember the 7.7 magnitude Luzon earthquake on July 16, 1990 that hit us. I remember the misery. I hope Syria and Turkey can stay strong through this.
Osler Paul Carino, Baguio City, Philippines
Deepest condolences.
Arthur Robert Joseph, Sarawak, Malaysia
Desperately sad for this father and all who have suffered and are suffering from this devastating catastrophe. My heartfelt condolences.
Rosanna Connolly, London, UK
Prayers from Nepal to the people affected by the earthquake in Turkey and Syria. May they have the strength and courage to overcome these difficult days. To all those helping hands: bravo and a salute.
Ananda Chhetri, Narayanghat, Nepal
Heartbreaking. My prayers are with the people who have lost so much. I pray they find relief.
Tafadzwa Mbombi, Johannesburg, South Africa
What unimaginable pain. Thoughts and prayers to the victims.
Junior Brown, Dubai
It's tragic that the beautiful people of Syria continue to face such misfortune.
Muhammad Yahyaishaq, Kohat, Pakistan
God bless the men and women working to help the survivors.
Nilda Ferreira, Asuncion, Paraguay
Thank you for the video report by Nada Atallah in Osmaniyeh, Turkey. God bless the people in this crisis.
Licia Ceccarelli, Carmel, New York, US
Rest in peace, Ahmet Eyup Turkaslan, the Turkish goalkeeper, and all the departed souls. This whole scenario is so terrible.
Bilal Ashiq, Boca Raton, Florida, US
This is incredibly sad. I pray for strength for the affected families.
Olabisi Akanji, Dubai
That countries such as the UAE and India have sent support is laudable. The deadliest natural disaster in the Middle East is difficult to read about. Once the rescue efforts are completed, rebuilding from such devastation will be no ordinary task. The whole world must support Turkey and Syria and help the people through this massive tragedy.
K Ragavan, Bengaluru, India
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THE SPECS
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Power: 110 horsepower
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Tree of Hell
Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla
Director: Raed Zeno
Rating: 4/5
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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The specs: 2019 Mini Cooper
Price, base: Dh141,740 (three-door) / Dh165,900 (five-door)
Engine: 1.5-litre four-cylinder (Cooper) / 2.0-litre four-cylinder (Cooper S)
Power: 136hp @ 4,500rpm (Cooper) /Â 192hp @ 5,000rpm (Cooper S)
Torque: 220Nm @ 1,480rpm (Cooper) / 280Nm @ 1,350rpm (Cooper S)
Transmission: Seven-speed automatic
Fuel consumption, combined: 4.8L to 5.4LÂ / 100km
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The Gentlemen
Director: Guy Ritchie
Stars: Colin Farrell, Hugh GrantÂ
Three out of five stars
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.”
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasionÂ
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for workÂ
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’tsÂ
- Wear hamdania for work, always wear a ghutra and agalÂ
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
