Labourers sit with restauranteur Raza Abbas at Swaadish restaurant for a special dinner. Navin Khianey for The National
Labourers sit with restauranteur Raza Abbas at Swaadish restaurant for a special dinner. Navin Khianey for The National

Dubai restaurant owner dishes out a day to remember for labourers



DUBAI // Nine lucky labourers enjoyed the taste of home and a VIP experience in a limousine thanks to a Dubai restaurant owner.

Raza Abbas, who owns Swaadish restaurant in The Mall, opposite Jumeirah Beach Hotel in Umm Suqeim, invited the men to visit his eaterie, where he cooked their favourite dishes from their various home countries.

“I got this idea after casually enquiring with a bunch of labourers from a construction site in my neighbourhood. I got a sense that what they missed the most is food cooked by their wife or mother back home,” said the 27-year-old restaurateur.

Mr Abbas said his guests’ wish-list ranged from south Indian delicacies to north Indian mughlai food.

“One of my guests from Odisha wished to eat kaakra, which is an occasional dish made out of coconut filling and semolina dumplings cooked at the yearly pooja (religious event) in Bengal. Others wished to eat delicacies such as mutton karahi, biryani, palak paneer, tikka and kebabs,” he said of his guests, who were selected at random from a nearby construction site.

Labourer Nadeem Abbas was delighted to eat his favourite dishes – sabzi gosht (mutton curry with vegetables) and chicken tikka - both of which he had not tasted for years.

“I hadn’t enjoyed my favourite food for ages. In fact, I had almost forgotten the taste of it,” said the 28-year-old Pakistani, who works as an electrical technician in Dubai.

Aside from organising a lavish dinner for the workers, Mr Abbas also arranged for them to be picked up and dropped off in a Dodge Challenger stretch limousine.

“By booking a limo, I thought it would give them an opportunity to spend a few moments cherishing the luxury lifestyle and this might inspire them to work even harder to improve their standard of living,” he said.

However, Harkeswar Maji was reluctant to sit inside the limo as it looked too good to be true. “I was scared that the owner of this beautiful car would get angry if I got near it. I never imagined me or anyone from my family could ever sit in a limousine,” said the 30-year-old Indian bricklayer. “I miss my family a lot but it was a dream day.”

Mr Abbas also gave a goody bag to each of his guests, with contents including cinema vouchers. “Most of them were planning to watch the recent Bollywood film Sultan,” he said, adding that more restaurateurs in Dubai should host such activities for labourers.

“Big or small, anything that manages to bring a smile on the faces of these well-deserving people should be done, and done more often, too.”

akhaishgi@thenational.ae

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So what is Spicy Chickenjoy?

Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.
 

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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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