DUBAI // The customer service centres of the Roads and Transport Authority will be closed on Tuesday for the National Day holiday. Services will resume on Sunday.
Except for the multi-level parking lot at the Fish Market, parking in Dubai will be free of charge from Tuesday to Friday.
The Dubai Metro Green Line stations will run from 5.50am to midnight on Tuesday and Wednesday. On Thursday, the service will end at 1am.
Red Line stations will operate from 5.30am until midnight on Tuesday and Wednesday, and service will end at 1am on Thursday.
The Dubai tram will operate from 6.30am until 1.30am from Tuesday to Thursday.
Main public bus stations such as Gold Souq and Al Ghubaiba, will operate from 5am until midnight on Tuesday, Wednesday and Thursday.
Subsidiary stations, such as Al Satwa, Al Qusais, Al Quoz Industrial and Jebel Ali, will operate from 5.45am to 11pm.
But the C01 route will be operational around the clock.
Stations of feeder bus services at Al Rashidiya, Mall of the Emirates, Ibn Battuta, Dubai Mall-Burj Khalifa, Etisalat, and Abu Hail will operate from 5.15am until 12.10am.
Service times for metro feeder buses will be synchronised with metro working hours.
Commercial and inter-city bus services will operate as follows:
Main stations, such as Al Ghubaiba, will operate around the clock, while subsidiary stations (such as Al Sabkha, Union Square, Deira City Centre and Al Karama) will operate from 6am until midnight.
The Sharjah (Jubail – Bur Dubai) route will be on 24-hour service; the Abu Dhabi route will operate from 5am until 1am; the Fujairah route from 6.35am until 9.35pm; the Ajman route from 5.30am until 10pm; and the Hatta route from 6am until 9.05pm.
The Water Bus service at Dubai Creek stations will operate from 10am to 11pm, and from noon to midnight at the Marina Station.
The Water Taxi will run from 9am until 10pm. The Dubai Ferry at Al Ghubaiba Station will operate at 11am, 1pm, 2.30pm, 5pm and 6.30pm; the service times at Marina Station will be at 11am, 1pm, 3pm, 5pm and 6.30pm; and the service at Al Mamzar Station will be at 4.30pm and 6.30pm.
All vehicles testing and registration services will be closed from Tuesday through Thursday. They resume on Saturday.
newsdesk@thenational.ae
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
if you go
The flights Fly Dubai, Air Arabia, Emirates, Etihad, and Royal Jordanian all offer direct, three-and-a-half-hour flights from the UAE to the Jordanian capital Amman. Alternatively, from June Fly Dubai will offer a new direct service from Dubai to Aqaba in the south of the country. See the airlines’ respective sites for varying prices or search on reliable price-comparison site Skyscanner.
The trip
Jamie Lafferty was a guest of the Jordan Tourist Board. For more information on adventure tourism in Jordan see Visit Jordan. A number of new and established tour companies offer the chance to go caving, rock-climbing, canyoning, and mountaineering in Jordan. Prices vary depending on how many activities you want to do and how many days you plan to stay in the country. Among the leaders are Terhaal, who offer a two-day canyoning trip from Dh845 per person. If you really want to push your limits, contact the Stronger Team. For a more trek-focused trip, KE Adventure offers an eight-day trip from Dh5,300 per person.
Company profile
Name: Infinite8
Based: Dubai
Launch year: 2017
Number of employees: 90
Sector: Online gaming industry
Funding: $1.2m from a UAE angel investor
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
UAE currency: the story behind the money in your pockets
In Full Flight: A Story of Africa and Atonement
John Heminway, Knopff
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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.”
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The specs
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The specs
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Power: 181hp
Torque: 230Nm
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.