You can't beat a good night in front of the telly. Unless, of course, you subscribe to the basic package from OSN. Once you've surfed through the 14 channels of one man and his beard, a dozen or so variations of MTV and a movie channel that insists on advertising the same brand of coffee every couple of minutes, there isn't a great deal to watch.
We lived without TV for two blissfully peaceful years in the UAE. But on moving to a new villa a month or so ago, we were secretly quite excited to receive a set-top satellite receiver with the basic TV package included with our rent. The excitement was short-lived.
We may not have had a TV service for two years, but our lives were not bereft of audio-visual entertainment. We had countless DVDs - especially during the summer when colleagues and friends take turns swapping the latest box-set mini-series from the US and Europe.
We had shows offered by Apple's US iTunes Store, we had some BBC iPlayer success, and for news we took advantage of Al Jazeera's online live streaming.
Sport was always a bit of a problem, but we found the 2010 Fifa World Cup streamed live on the internet by a South American TV network. Then there was the live cricket provided online - with rudimentary advertising breaks - by an enterprising Indian company.
We watched The Turn of the Screw, a Benjamin Brittenopera streamed live from Glyndebourne in the UK, and a couple of live comedy shows and musical performances from New York, supplied - legally, I might add - in a similar manner.
All this legal and free internet-based TV is far superior to the basic package supplied by most cable and satellite broadcasters anywhere in the world.
There is a plethora of other online outfits illegally offering bespoke televisual services, menus of TV programmes and films from all over the world.
We would not advocate using any of these services as they are illegal. They use BitTorrent technology, which is old hat these days, but their online interfaces have become very sophisticated - so sophisticated that one wonders why OSN and the like are not doing something similar. One of the many reasons they are not is that internet pirates have made the Middle East one of the most dangerous markets for holders of broadcast rights.
This week, The National told the story of one pirate who stole OSN broadcasts and distributed them to thousands of viewers via the internet. OSN threatened to fine him nearly US$1 million (Dh3.6m) and the police threatened jail. The pirate agreed to settle.
Because of his actions and those of similar swashbucklers in the region, the Hollywood studios and others that own the rights to broadcast the shows we watch know that each time they sell a season of The Wire or The Tonight Show it will be pirated to millions of viewers all over the Middle East. So they opt for a flat fee from the biggest broadcaster and withdraw from the market. The idea of negotiating something more innovative, like online streaming or video on demand, is anathema.
The loser in this deal is the viewer, who is left with just a handful of good shows amid hundreds of channels of unwatchable garbage.
Netflix, Hulu and Amazon have made some headway in the US with their own bespoke services. But they are still a long way from providing the variety and quality that is available illegally.
Not for the first time, TV rights holders and broadcasters could learn a thing or two from the music industry.
Spotify, a subscription internet music service, has made just about all tunes ever recorded available to those prepared to pay a monthly fee. The company also offers a slightly less attractive free service with adverts.
I would certainly pay a monthly fee for a TV service that provided only programmes I wanted to watch, when I wanted to watch them. Neither would I mind a free service with adverts.
Advertisers would probably be quite keen for such as service, too, as an audience of fully engaged viewers would command premium rates.
But it is the pirates who always seem to be blazing a trail in media content delivery, not the media companies and advertisers.
Perhaps instead of threatening to fine and lock up its Emirati pirate, OSN should consider offering him a job.
jdoran@thenational.ae
Remaining Fixtures
Wednesday: West Indies v Scotland
Thursday: UAE v Zimbabwe
Friday: Afghanistan v Ireland
Sunday: Final
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.”
Company%20Profile
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
SPECS
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
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IF YOU GO
The flights
FlyDubai flies direct from Dubai to Skopje in five hours from Dh1,314 return including taxes. Hourly buses from Skopje to Ohrid take three hours.
The tours
English-speaking guided tours of Ohrid town and the surrounding area are organised by Cultura 365; these cost €90 (Dh386) for a one-day trip including driver and guide and €100 a day (Dh429) for two people.
The hotels
Villa St Sofija in the old town of Ohrid, twin room from $54 (Dh198) a night.
St Naum Monastery, on the lake 30km south of Ohrid town, has updated its pilgrims' quarters into a modern 3-star hotel, with rooms overlooking the monastery courtyard and lake. Double room from $60 (Dh 220) a night.
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.
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
