Taek Sang Kang's Korean galbi beef



Galbi beef (Serves 4)

1kg jumbo beef short ribs

For the galbi sauce:
240ml soy sauce
50g caster sugar
100g pear, peeled and finely chopped
50g onion, peeled and finely chopped
2 tbsp garlic, peeled and finely chopped
50g ginger, peeled and finely chopped
100g apple, peeled and finely chopped
45g sesame oil
50g spring onion, peeled and finely chopped

To garnish:
1 white onion, peeled and roughly sliced
30g king oyster mushrooms, sliced
30g shimeji mushrooms
4 garlic cloves
4 tbsp finely chopped pine nuts
4 tbsp finely chopped spring onions

For the salad:
1 onion, peeled and very thinly sliced
1 red onion, peeled and very thinly sliced
1 chilli, sliced
mustard cress
sesame oil
soy sauce


Whisk together the soy sauce and caster sugar in a large bowl. Add all the other sauce ingredients and set aside.

Prepare the beef by first removing the fat and skin. Using a sharp knife, slice length ways across the bone so that you end up with long strips of boneless meat, approximately 1/3 inch to 1/4 inch think. Make diagonal incisions along the length of the meat, to allow the marinate to be better absorbed.

Add the beef to the bowl, turning to coat. Cover with cling film and place in the fridge overnight.

Heat a griddle pan or stove top grill to medium-high. Shake off the excess marinade from the beef and cook for 1-2 minutes on each side. Add the onion slices, mushroom slices and whole garlic cloves to the grill at the same time. Slice the beef into bite size pieces.

Toss together the sliced red and white onions, the chilli and the mustard cress. Dress with a mixture of soy sauce and sesame oil.

Arrange the meat and vegetables on serving plates. Place a little of the salad on the side and spoon over the chopped pine nuts and spring onions.

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A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

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'Operation Mincemeat' 

Director: John Madden 

 

Cast: Colin Firth, Matthew Macfayden, Kelly Macdonald and Penelope Wilton

 

Rating: 4/5

 
Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

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THE BIO

Ms Davison came to Dubai from Kerala after her marriage in 1996 when she was 21-years-old

Since 2001, Ms Davison has worked at many affordable schools such as Our Own English High School in Sharjah, and The Apple International School and Amled School in Dubai

Favourite Book: The Alchemist

Favourite quote: Failing to prepare is preparing to fail

Favourite place to Travel to: Vienna

Favourite cuisine: Italian food

Favourite Movie : Scent of a Woman

 

 

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

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.”

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COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million