Students' bid to raise Dh20,000 for orphans



AL AIN // Devon Cash, 16, will be taking plenty of long walks with a 15-kilogram backpack over the next two weeks.

He is part of a group of 23 pupils from the Al Ain English Speaking School who are preparing for a gruelling hike in the Himalayas.

The students are also raising money for a charity project there through car washes and raffles.

"We are all very excited as this will be our first time overseas and a chance to give back to the community," said Devon, a Year 11 pupil. "We are trying to get used to walking around with a weighted backpack. That is tiring."

The group will travel to Nepal on February 17 to support Mission Himalaya, a non-profit organisation that offers health care, education and nutrition to orphans.

The hike is part of their Duke of Edinburgh's Award pledge. Also called the International Award for Young People, the programme is for those age 14 to 24.

Over one to four years they commit to volunteering, physical and skills-based activities, an expedition and a residential challenge, where they have to stay away from home and participate in group work. Along the way, they qualify for a Bronze, Silver or Gold award.

The award scheme was established in Britain in 1956 and chaired by Prince Philip, the Duke of Edinburgh and husband of Queen Elizabeth II.

Initially a series of character-forming challenges for boys, it was expanded two years later to include girls.

Sara Donovan, a PE teacher at the school who will be accompanying the group, said the programme helps pupils learn responsibility, leadership and interpersonal skills.

"At the end, the chance to experience the lifestyle of these orphans and see how much they can help is even more rewarding," she added.

Before the students leave for their 10-day trek, they hope to raise Dh20,000 for the orphanage. Brittany Kalauni, 16, said they would also help paint a school in Nepal and lend a hand in preparing a road to the facility.

"The whole opportunity sounded so great that I had to be a part of it," she said. "When we get there, there is a lot of trekking, mountain biking and water rafting, but most of the time will be spent helping out at the orphanage."

The team will also take books, clothes, toys and some sports kits for the orphans.

For Sylvia Vilsoni, 15, it is a chance to make her own decisions.

"I will be away from my parents for the first time and it will test whether I can do things for myself and work as part of a team," she said.

Her first independent task is to ensure she has everything for the journey.

"Boots are essential, layers of clothing as the weather changes, first aid, sleeping bags ... it will be a challenge but there is a lot of cooperation in the group so it will be easy to overcome the problems."

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German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
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Source: Federal Office for the Protection of the Constitution

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The flights

Emirates flies from Dubai to Seattle from Dh5,555 return, including taxes. Portland is a 260 km drive from Seattle and Emirates offers codeshare flights to Portland with its partner Alaska Airlines.

The car

Hertz (www.hertz.ae) offers compact car rental from about $300 per week, including taxes. Emirates Skywards members can earn points on their car hire through Hertz.

Parks and accommodation

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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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Origin
Dan Brown
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
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Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

Mina Cup winners

Under 12 – Minerva Academy

Under 14 – Unam Pumas

Under 16 – Fursan Hispania

Under 18 – Madenat