There are now more applications from Apple's store that have been downloaded on to digital devices such as smartphones and tablets than there are people on the planet.
Fact box: Odd world of wacky apps: There are plenty of weird and wacky applications to wade through, here are a few:
Phoney Call This US$4.99 (Dh18.32) app for the BlackBerry simulates calls with pre-recorded sounds to help you fake a conversation in case you need an excuse to escape early. The app's maker also claims it can help professionals, such as property agents and used-car salesmen, by faking an incoming call from another "interested buyer" and challenging a client to offer a higher price.
Puppy Talk This free app from Nokia's Ovi Store features a cute, animated puppy. In a squeaky voice, it can also repeat what is said to it. It works in almost any language, including Arabic.
Endomondo Sports Tracker This app could help people get fitter by tracking the distance, speed and calories burned during a walk, run or bicycle ride. While another version with additional features sells for $15.95, this one is free from Google's Android market.
Knot Guide Outdoor enthusiasts might find this app particularly useful. Users can swipe through step-by-step images that teach them how to master more than 90 knots, including those used for sailing, fishing and climbing. It's available through Apple's App Store, for $1.99, and also covers basic terms and "knot lingo".
App Store boasts more than 10 billion downloads while the world's population is about 6.9 billion.
Beyond Apple, gadgets with Google's Android software make up another 3 billion.
Then there is Research In Motion (RIM), which this week activated its app store for the BlackBerry in the UAE and says more than 1.5 million apps are pulled off its digital shelves globally every day.
But while all of these figures are fine for businesses to brag about, what does it mean for the typical consumer? For many, this growing collection translates into apps that may not always be accessed across all of their gadgets, which can be annoying given how addictive these tools, including flight trackers, restaurant recommenders and interactive games, can be.
Raghu Venkataraman, the chief strategy and investments officer at the telecommunications company du, and his family have about 400 apps sprinkled across a handful of different phones, a tablet computer and a digital music player.
Mr Venkataraman spent about Dh2,900 (US$790) over nine months buying those software programmes.
"I've gone app crazy," says Mr Venkataraman, who spoke at the app development conference, Planet of the Apps, in Dubai last month.
Of his 400 apps, about half were free to download and those that were not included four bought by his son - without Mr Venkataraman's knowledge - for a total of $40. Globally, consumers spent more than $1.7 billion on apps last year alone, and that figure is projected to grow to $38bn in revenues by 2015, according to a report from Forrester Research, a market data company.
Yet, Mr Venkataraman warns not everyone has been fully satisfied with their app-buying experiences. He argues companies are getting too caught up in thinking customers care about the specific brands selling apps, whether it be from Apple, RIM or the recent partnership venture between Nokia and Microsoft. "The customer doesn't care about the brands," says Mr Venkataraman. Rather, he notes, they just want to get hold of whatever type of app they want.
One of the most important factors among consumers buying a new phone are the applications available for that device, according to a survey conducted last year in the US by comScore, a digital market research company.
But one of the biggest drawbacks customers face today stems from an inability to access the same app on multiple gadgets.
Some apps designed for RIM's new PlayBook tablet will not work on Apple's latest iPad. Sometimes, apps for the PlayBook will not even work on BlackBerry smartphones, even though RIM created both gadgets. It is a recurring problem across the industry.
App developers argue these kinds of inconveniences are largely the fault of phone makers, who do not always make it easy to deploy an app across multiple devices.
Mobile smartphone makers such as RIM, however, contend a developer can submit a programme and choose which devices the application will run on.
"They can say this version is for the PlayBook, this version is for the smartphone," says Sanyu Kiruluta, RIM's team lead for developer relations in Europe, Middle East and Africa. Some individuals have recommended mobile manufacturers team up and create an open platform to allow customers to pick and choose apps that could work on multiple phone and tablet makers' devices.
Although Nokia launched its joint venture with Microsoft this year to create a new app store, the company does not see itself repeating that any time soon.
"We don't believe we need to collaborate with another player," says Tom Farrell, the general manager of Nokia Lower Gulf. "There's a big risk there," he adds, noting such collaboration could harm competition in the industry.
Other mobile phone makers agree.
"Why do you want us to be buddy-buddy?" says Ms Kiruluta. "We want to compete."
Consumers may also start to see apps change, as more developers discover, when they break the numbers down, the industry is often not as lucrative as it at first seems.
On average, it costs $7,000 to create an app, although the typical return on investment is still only about $4,000 in revenues, says Karim Taga, the managing director in the Vienna office of Arthur D Little, a business consultancy.
"The majority are losing money," he says. That is why some app developers are weighing two possible solutions for reducing costs and driving up revenues.
"One is moving towards web applications, which means we can develop one [app] and deploy it across a number of different platforms," says Chris Johnstone, the managing director of SevDotCom, a web development firm based in Dubai.
If that approach catches on across the industry, it could help consumers who want to access the same app across multiple devices.
The second strategy involves incorporating adverts into apps to create a stronger revenue stream for developers.
"Mobile advertising is a big and important part of that," says Mr Johnstone.
It is unlikely such an approach would find much favour among consumers.
nparmar@thenational.ae
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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.”
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
The essentials
What: Emirates Airline Festival of Literature
When: Friday until March 9
Where: All main sessions are held in the InterContinental Dubai Festival City
Price: Sessions range from free entry to Dh125 tickets, with the exception of special events.
Hot Tip: If waiting for your book to be signed looks like it will be timeconsuming, ask the festival’s bookstore if they have pre-signed copies of the book you’re looking for. They should have a bunch from some of the festival’s biggest guest authors.
Information: www.emirateslitfest.com
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Profile of Bitex UAE
Date of launch: November 2018
Founder: Monark Modi
Based: Business Bay, Dubai
Sector: Financial services
Size: Eight employees
Investors: Self-funded to date with $1m of personal savings
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
'Saand Ki Aankh'
Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
The specS: 2018 Toyota Camry
Price: base / as tested: Dh91,000 / Dh114,000
Engine: 3.5-litre V6
Gearbox: Eight-speed automatic
Power: 298hp @ 6,600rpm
Torque: 356Nm @ 4,700rpm
Fuel economy, combined: 7.0L / 100km
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
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