DUBAI //
Companies and workers are welcoming the start of the midday work ban and looking forward to a safe, if very hot, summer.
Work at uncovered building sites between 12.30pm and 3pm has been banned by the Ministry of Labour from today until September 15.
Companies' safety officers are urging workers to keep themselves well hydrated, watch out for signs of fatigue in themselves and co-workers and rest if they feel unwell. Some firms began awareness campaigns for staff last month.
"We started doing re-education a month ago," said Wasyl Terych, the corporate health and safety manager for ETA Ascon Star Group.
"We have posters in many languages and have put up urine colour charts so workers can know if they are getting dehydrated. We make staff aware of potential problems that can arise from heat.
"It does not start only at noon but begins at 10am and is there well after the midday break. We tell them to be aware of signs of fatigue. Colleagues are also taught to look for signs and provide care."
The ETA group employs 200 safety officers for its more than 55,000 staff, not all of whom work outside.
"We provide extra fans, shelters, cool water and people are trained in safety," Mr Terych said. "Officers are asked to be more alert during the summer months."
The midday break was introduced in 2005 when workers were given time off between 12.30pm and 4pm during July and August. This was shortened by an hour in 2006.
Last year, more than 50,000 worksite inspections uncovered 109 breaches of the rule.
Workers say companies are giving them tips to avoid heat exhaustion.
"Our company tells us to rest if we feel sick," said Mohammed Issa, 34, a carpenter with a construction firm. "They provide us with air-conditioned shelters.
"There are posters that remind us to keep water with us always. We tell our friends and colleagues to drink water continuously or tell us if they feel dizzy. That way we can look out for each other. It is not so hot now but July and August will be hotter.
"It will be nice if companies can give us more than two-and-a-half-hour breaks."
The Ministry of Labour said the ban would not apply to everyone. Work can continue on outdoor projects that cannot be postponed, such as repairing water, petrol or sewage pipes or electrical lines.
The order also exempts labourers working on licensed Government projects that could affect traffic, electrical and water supplies or telecommunications. Laying asphalt and pouring concrete are classed as necessary on safety grounds and will continue throughout the day.
Dulsco provides electrolyte drinks, caps with hoods and balaclava masks to protect its staff from the sand and heat. The manpower and waste-management company has more than 2,000 employees working outdoors.
"We are experimenting with cool bands with a group of 100 employees who are exposed to the sun in tank cleaning operations, onshore and offshore," said Mohammed Ayoub, the company's deputy general manager of quality, health, safety and environment.
Government departments such as Dubai Municipality also organise annual summer campaigns to promote worker safety.
"Owners and managers of companies have to make available environments that avoid heat exhaustion," said Redha Salman, director of the public health and safety department at the municipality.
pkannan@thenational.ae
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.”
Brief scores:
Arsenal 4
Xhaka 25', Lacazette 55', Ramsey 79', Aubameyang 83'
Fulham 1
Kamara 69'
Celta Vigo 2
Castro (45'), Aspas (82')
Barcelona 2
Dembele (36'), Alcacer (64')
Red card: Sergi Roberto (Barcelona)
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.
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
MATCH INFO
Fixture: Ukraine v Portugal, Monday, 10.45pm (UAE)
TV: BeIN Sports
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.3-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E299hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E420Nm%20at%202%2C750rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E10-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E12.4L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh157%2C395%20(XLS)%3B%20Dh199%2C395%20(Limited)%3C%2Fp%3E%0A
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners