DUBAI // Dubai is testing a 180kph firefighting motorbike that can weave through traffic and extinguish two car fires with one load of water and foam.
The firefighting system is mounted on a modified German-built 1,170cc BMW R1200RT motorcycle called the Firexpress, the first of its kind in the UAE.
"It's a very good bike," said Brig Ahmed Al Sayegh, the assistant general manager of Dubai Civil Defence.
"We will study it first and then decide how we can use it for specific purposes. It seems like a good vehicle to use in narrow and crowded areas - like where there is a traffic jam."
The bike is ideal for firefighting in traffic or where there is no space for big vehicles to move, said Mohammed Awad, the director of business development at Concorde-Corodex Group, the regional suppliers.
"If a car catches a fire on Sheikh Zayed Road or any other area, the vehicle can be pressed into service," he said.
The Firexpress has two interconnected 25-litre tanks of pre-mixed foam and water solutions. "These are also used in industrial applications and in large residential areas to extinguish fires," said Mr Awad.
Brig Al Sayegh said Civil Defence would decide whether they should have more bikes after studying its effectiveness.
According to the company, the vehicle has been successfully used in China, Singapore, Malaysia and Saudi Arabia.
Concorde-Corodex handed the bike over at the Intersec Trade Fair and Conference, which ended yesterday.
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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Tottenham v AFC Wimbledon
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Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
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