Soon after I came to know about the "Park and Ride" initiative from an article in your newspaper (Business is slow for free bus, January 20), I started taking advantage of it. I have to admit that it has been one of the best government initiatives to ease congestion in the capital.
If successful, it will help reduce pollution, as well as enabling thousands of people to save money on transport.
When I read the article, I was surprised to know that the bus tickets offer free rides all day, on the park-and-ride express as well as all public buses within Abu Dhabi island. Till now, I had the impression that nothing comes for free in this city.
I am sure that those who live outside the city will gradually start to rely on this facility.
I thank the Department of Transport for implementing this scheme. I just wish I had known about it before.
It’s unfortunate that this initiative is not getting the publicity it deserves, but I am trying to spread the word.
Philp John Varghese, Abu Dhabi
Bad options lead to piracy
With reference to the editorial Taking on the high tech pirates (January 22), content producers should think like consumers, not like pirates. Most people are willing to pay for content if it is instantly available and easily accessible. They are willing to torrent when they can't find a way to pay for and access the content they want.
A few points to consider. If, for instance, iTunes in the UAE had a greater portion of their library of movies and uncensored TV shows available to buy, or if there was a great deal more available than they have at present, I suspect that piracy would drop significantly.
Then again, no one wants to pay for cable packages anymore. It seems pointless to pay for thousands of channels that you will never watch, just to have the two or three TV shows and football games that you want. For now, I pay for a cable package, but I resent being charged extra to watch the Premier League.
It is not that media companies need to think like pirates, but they need to start providing services that consumers want, at a reasonable price and deliver them in an appropriate and timely manner. Let people buy things the way they want rather than giving them just two options: pay more money or become a pirate. It’s time for media companies to find another option.
Last but not least, isn’t it time to end internet borders? Let people buy from the iTunes USA or UK site, or any other site, no matter where in the world they are.
When I can order movie DVDs from the UK and have them delivered to me here, why shouldn’t I be able to download that same content from the same site?
Ann Scholl, Dubai
People are increasingly savvy and it is no longer possible to foist channel subscriptions on them.
The more barriers erected by censors and protectionists, the greater the incentive for people to find ways around them, and the more revenue opportunities lost. Atomise the media, open it up to everyone, and let consumer choice prevail.
Sohan Dsouza, Dubai
Nigeria itself did not mourn
I refer to Ayesha Almazroui's opinion article We must mourn Nigeria's dead just as much (January 19) and the subsequent question posed on your Facebook page – why didn't we mourn the victims of the Nigeria massacre by Boko Haram the way we did those of the Charlie Hebdo attack?
I think the simplest answer to this question is that the French government initiated the mourning and others joined in. What concern did the Nigerian government show for the victims of the rampage by Boko Haram?
Jeen Cherian George, Dubai
The world is not responsible for Nigeria, just as it is not responsible for France. France’s leadership led the way in mourning the victims of the attacks.
Also, it is not true that 2,000 people have been killed by Boko Haram in a village in one day. That maybe the total number of people killed by Boko Haram over time.
Irrespective of the numbers, Nigeria must care for and guard its own people. To do so, it has to go after the arms suppliers.
Name withheld by request
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.”
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
COMPANY%20PROFILE
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Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
SCHEDULE
Saturday, April 20: 11am to 7pm - Abu Dhabi World Jiu-Jitsu Festival and Para jiu-jitsu.
Sunday, April 21: 11am to 6pm - Abu Dhabi World Youth (female) Jiu-Jitsu Championship.
Monday, April 22: 11am to 6pm - Abu Dhabi World Youth (male) Jiu-Jitsu Championship.
Tuesday, April 23: 11am-6pm Abu Dhabi World Masters Jiu-Jitsu Championship.
Wednesday, April 24: 11am-6pm Abu Dhabi World Professional Jiu-Jitsu Championship.
Thursday, April 25: 11am-5pm Abu Dhabi World Professional Jiu-Jitsu Championship.
Friday, April 26: 3pm to 6pm Finals of the Abu Dhabi World Professional Jiu-Jitsu Championship.
Saturday, April 27: 4pm and 8pm awards ceremony.
The five pillars of Islam
If you go:
The flights: Etihad, Emirates, British Airways and Virgin all fly from the UAE to London from Dh2,700 return, including taxes
The tours: The Tour for Muggles usually runs several times a day, lasts about two-and-a-half hours and costs £14 (Dh67)
Harry Potter and the Cursed Child is on now at the Palace Theatre. Tickets need booking significantly in advance
Entrance to the Harry Potter exhibition at the House of MinaLima is free
The hotel: The grand, 1909-built Strand Palace Hotel is in a handy location near the Theatre District and several of the key Harry Potter filming and inspiration sites. The family rooms are spacious, with sofa beds that can accommodate children, and wooden shutters that keep out the light at night. Rooms cost from £170 (Dh808).
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Results:
Men’s wheelchair 200m T34: 1. Walid Ktila (TUN) 27.14; 2. Mohammed Al Hammadi (UAE) 27.81; 3. Rheed McCracken (AUS) 27.81.
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MANDOOB
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Where%20the%20Crawdads%20Sing
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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