Mica Ruzmanovic opened her clinic on Jumeirah Beach Road one year ago.
Mica Ruzmanovic opened her clinic on Jumeirah Beach Road one year ago.

'Being a rebel helps me'



Mica Ruzmanovic owns Mica's Tooth Design in Dubai.
I was born in Serbia in the countryside, 100km from Belgrade. It was very basic. My mother had to go two kilometres to bring water from a well and she had to go to the river to wash the clothes. We had two cows. Before school, my mother and father used to make me stay with cows for one hour to make sure they'd take their food. I worked as a child but I was told that this would be what the rest of my life would be like if I wasn't good at school. I am happy because of where I'm sitting today compared to where I was. And I did it myself, without a man.

We moved to Sweden when I was nine years old. My father moved us there to get a better life. He was making fine furniture in Serbia but there was no work for him. Every summer, he'd make my sisters and I pick the hay for the cows. I wanted to go out and see boys and go to the cinema but my father would make us work. When we came to Sweden, my father kept his culture. He didn't want to adopt the Swedish culture. He was afraid to adopt something new and lose what he had. That's why he was strict, strict, strict.

When I was 18 years old, I got married. I just wanted to run away because I was a little bit of a rebel and that was a way to do it. My husband came to Sweden from Serbia, too. He said, "Do you want to get married?" and I said, "OK". I had only known him for one month. We were married for 10 years but then we got divorced. We were not compatible. I wanted to start a business and he wanted to sit at home and watch TV. I did everything I could, I gave it a chance but it was not a love marriage.

After we were married six years, my daughter was born. She always wanted to be an actress. When she was seven years old, I came home to find her saying, "Thank you for my mother. I want to thank my mother". I asked her what she was doing and she said she was practising for when she gets her Oscar. I always told her to go for it, she had to do what she believed in. She is 27 now and she has the main role in a play so I was not wrong.

After I finished school, we had work experience. I was told that I should become a dentist but I spent two weeks with a dental technician and I found out about tooth design. It was far more interesting and creative than just being a dentist so that is what I studied and trained to do. It is very important that people know the difference between a dentist and a tooth designer. The dentist just screws the teeth into the mouths but I spend hours creating teeth and crowns and veneers that look good but still look natural.

There's a difference between aesthetic dentistry and cosmetic dentistry. Aesthetic dentistry makes teeth that look good naturally but cosmetic dentistry makes teeth that are perfect. But perfect doesn't always look right. It can look terrible, like piano keys. I opened my clinic on Jumeirah Beach Road one year ago. I've been in Dubai for four and a half years. I was working for another dentist when I first got here and for two years I worked at Dubai Ladies Club, but I got very bored. So I wanted to start my own business.

I was having some problems with immigration but I was very lucky. I ran into Sheikh Mohammed at Emirates Towers when I was having coffee and I just asked him for help. I said, "Please help me. I am a single mother in Dubai and I am stuck with some problems with immigration" and he sent help for me. He was so kind. Where else in the world can you go to the leader and he will actually stop and listen to you?

I used to have a tango bar at my house in Sweden. I served food and I learnt how to teach the tango. I wasn't really making any income from the bar, it was just a passion for me. I still do tango dancing at the Jumeirah Beach Hotel. You fight to be a woman. We have the right to be in business as women, to do unusual things. But being a rebel helps me here in Dubai. You have to be twice as good to compare with a man. I do what I think is proper but I do not want to hide the fact that I am a woman. I am a proud European woman.

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.”

RACE SCHEDULE

All times UAE ( 4 GMT)

Friday, September 29
First practice: 7am - 8.30am
Second practice: 11am - 12.30pm

Saturday, September 30
Qualifying: 1pm - 2pm

Sunday, October 1
Race: 11am - 1pm

Company%20Profile
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The Perfect Couple

Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

The%20Emperor%20and%20the%20Elephant
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PROFILE OF SWVL

Started: April 2017

Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh

Based: Cairo, Egypt

Sector: transport

Size: 450 employees

Investment: approximately $80 million

Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani

Naga
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The%20specs
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