Windy weather warning issued with chance of thunder



ABU DHABI // Dust and sand blanketed the country on Friday as the weather bureau issued an official weather warning.

The National Centre of Meteorology and Seismology (NCMS) has forecast unstable conditions but stressed there would be no sandstorms this weekend.

However, those with asthma and other allergies are advised to remain indoors as wind will whip up sand and dust throughout the day on Saturday and Sunday. The centre added that there was a high chance of rain and possible thunder throughout the country Saturday, particularly in the Northern Emirates.

“Shallow clouds will cover scattered parts of the country and in the western and coastal areas,” a spokesman from the centre said.

“Instability in the weather condition will prevail in most parts of the country. Clouds will accumulate over different regions with a good chance of rain.”

Visibility was down to 1,700 metres in Jebel Ali Friday, and 1,000 metres in the western region. Visibility will remain poor Saturday.

“But there will not be a sandstorm,” the spokesman said. “For a sandstorm visibility needs to be lower than 1,000 metres. It may appear so near construction sites due to building material being blown in the air but it is not a sandstorm. Kuwait now has sandstorms.”

As wind direction changes on Saturday, from southerly to north-westerly, wind speeds will rise to reach 50kph and more sand and dust will be in the air.

“We caution motorists of bad visibility at times, and slippery roads once rains start,” the spokesman  said.

People with breathing problems should not be exposed to dust and should “stay indoors”.

“Or use masks,” the spokesman added. “Some think it is funny but it is not funny, honestly. They know how bad it is.”

The sea is forecast to be rough to very rough and people should not venture out into the water.

Temperatures will Saturday drop “significantly” to 28°C along the coast.

osalem@thenational.ae

osalem@thenational.ae

 

Company: Instabug

Founded: 2013

Based: Egypt, Cairo

Sector: IT

Employees: 100

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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.”

The specs: 2018 Nissan Altima


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Power: 182hp @ 6,000rpm

Torque: 244Nm @ 4,000rpm

Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

RESULT

Manchester United 2 Burnley 2
Man United:
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Burnley: Barnes (3'), Defour (36')

Man of the Match: Jesse Lingard (Manchester United)

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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The Word for Woman is Wilderness
Abi Andrews, Serpent’s Tail

THE BIO

Favourite place to go to in the UAE: The desert sand dunes, just after some rain

Who inspires you: Anybody with new and smart ideas, challenging questions, an open mind and a positive attitude

Where would you like to retire: Most probably in my home country, Hungary, but with frequent returns to the UAE

Favorite book: A book by Transilvanian author, Albert Wass, entitled ‘Sword and Reap’ (Kard es Kasza) - not really known internationally

Favourite subjects in school: Mathematics and science

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Price, base / as tested Dh207,846 / Dh220,000

Engine 6.2L V8

Transmission Eight-speed automatic

Power 420hp @ 5,600rpm

Torque 624Nm @ 4,100rpm

Fuel economy, combined 13.5L / 100km

Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
SPECS
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THE DETAILS

Kaala

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Starring: Rajinikanth, Huma Qureshi, Easwari Rao, Nana Patekar  

Rating: 1.5/5