This week, the Middle East Public Relations Association hosted a majlis to discuss the new world and new approaches communications professionals find themselves facing in the ever-changing landscape of technology and digital communications. I had the honour of sitting on a panel that discussed the changing impact of regional influencers – I was coming from the perspective of sharing my journey on leaving a corporate job to follow a career in social media.
I have long been a storyteller at heart. I remember when I first left my job, my mother would tell me how I always loved to share stories. Even as a kid, when my mother had guests, I would share stories of my day at school, my views on the world – which at that time were limited to how much I thought school needed to change – or my thoughts on the latest episode of Boy Meets World.
As I grew up in high school, I put those interests aside for more realistic or traditional academic and career choices. Through the journey, I worked in the maritime sector on gas tankers, then moved on to analysing and investing in maritime companies at a sovereign wealth fund.
It wasn't until I was 30 that I took a class on the entertainment industry during my master's. It was a class that changed my life. The class took place once a week, and during each class, we had a high-profile guest, some of whom included the chief executive of HBO, as Game of Thrones was taking the world by storm, as well as the producer of Glee, when the show was coming to an end.
Then, for one class, came a man who introduced himself as a “chief storyteller” at Pixar. Everyone was pretty amazed at everything he must have accomplished, and as the only Emirati in the room, I sat there thinking: “That’s a real job? You actually get paid to do that?” I’m sure he got paid very well to do that, given Pixar’s number of success stories.
What this experience taught me is that work – a job – isn’t simply about thinking of a way to earn money, but thinking about a way you can create value in the things you’re passionate about. It taught me that sometimes you have to show why your work is valuable. A lot of the time, people or organisations may not know they need your skills until you show them and demonstrate how you can positively impact their lives or their companies – a Steve Jobs-esque approach, if you will.
Today, when I describe myself to people as a storyteller, it’s something I wear as a badge of honour, rather than hope that people will skip the whole “So what do you do?” question out of fear of being given that blank stare – the one where they don’t have a clue what you’re talking about and aren’t sure if they even want to.
I’m comfortable because I redefined what work means to me – it’s not about a salary at the end of the month, a fancy office or a senior title. At this stage, I have none of those. I haven’t received that text message to tell me my salary has been deposited for nearly a year, I work out of my house or the nearest cafe and my job title is Khalid Al Ameri.
Work means so much more to me than all those things. It’s about leaving a lasting impact on people and organisations. It’s about making a difference, and to do that, I must focus on the work that brings me to life – telling my story to the world in a way that engages people and leaves a memory that will last forever.
Khalid Al Ameri is an Emirati columnist and social commentator. He lives in Abu Dhabi with his wife and two sons.
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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
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%20specs
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Jordan cabinet changes
In
- Raed Mozafar Abu Al Saoud, Minister of Water and Irrigation
- Dr Bassam Samir Al Talhouni, Minister of Justice
- Majd Mohamed Shoueikeh, State Minister of Development of Foundation Performance
- Azmi Mahmud Mohafaza, Minister of Education and Minister of Higher Education and Scientific Research
- Falah Abdalla Al Ammoush, Minister of Public Works and Housing
- Basma Moussa Ishakat, Minister of Social Development
- Dr Ghazi Monawar Al Zein, Minister of Health
- Ibrahim Sobhi Alshahahede, Minister of Agriculture and Minister of Environment
- Dr Mohamed Suleiman Aburamman, Minister of Culture and Minister of Youth
Out
- Dr Adel Issa Al Tawissi, Minister of High Education and Scientific Research
- Hala Noaman “Basiso Lattouf”, Minister of Social Development
- Dr Mahmud Yassin Al Sheyab, Minister of Health
- Yahya Moussa Kasbi, Minister of Public Works and Housing
- Nayef Hamidi Al Fayez, Minister of Environment
- Majd Mohamed Shoueika, Minister of Public Sector Development
- Khalid Moussa Al Huneifat, Minister of Agriculture
- Dr Awad Abu Jarad Al Mushakiba, Minister of Justice
- Mounir Moussa Ouwais, Minister of Water and Agriculture
- Dr Azmi Mahmud Mohafaza, Minister of Education
- Mokarram Mustafa Al Kaysi, Minister of Youth
- Basma Mohamed Al Nousour, Minister of Culture
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Tuesday's fixtures
Kyrgyzstan v Qatar, 5.45pm
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
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
UAE currency: the story behind the money in your pockets