The Liwa Date Festival, which starts its 11th edition on Wednesday, is a celebration of the culture of the UAE and its precious date palm – an integral part of this land and crucial to the survival of its inhabitants for thousands of years.
If past events are any indication, 70,000 visitors will make the trek out to Liwa City in Al Gharbia. There, in an air-conditioned tent in the middle of the desert, the finest produce from the UAE’s date and fruit farms will be on display alongside heritage and cultural demonstrations.
Dates – and for the fifth year, mangoes and lemons, too – will be in competition, with 220 prizes and more than Dh6 million waiting to be awarded.
“The festival aims at providing a unique opportunity for the different generations to discover and learn about the heritage and the traditions of the ancestors,” says Obaid Khalfan Al Mazrouei, director of the festival. “The palm tree was and will remain a symbol of the history and culture of the Arab society, in general, and the Emirati society in particular.”
Al Mazrouei cites data from the United Nations to point out that in the past decade, the UAE has planted 22 million palm trees, which represents 20 per cent of the total number of palm trees in the world.
“We are still striving to achieve a global reality that is worth our pride,” he says.
Varieties of dates
Fresh dates are either soft, semi-dry or dry, depending on the glucose, fructose and sucrose content. The dry, fresh date is not the same as the dried date. Fresh dates, if kept in an airtight container, stay fresh for up to eight months in the fridge and a year in the freezer. Dried dates are dehydrated to remove moisture and have a longer shelf life than the fresh ones.
• Soft dates: barhi, halawi, khadrawy and medjool dates fall in this category. They have a sweet, creamy flesh because of their high-moisture content.
• Semi-dry dates: dayri, deglet noor and zahidi dates are considered semi-dry. They have less moisture, sweetness and chewiness.
• Dry dates: perhaps the most popular dry date is the thoory, which has more of a hard, dry skin and very little moisture.
The date and religion
The Quran references the date fruit in 21 different verses and it is often honoured as one of the blessings of heaven, with much significance given to the date palm as a source of nutrition and sustenance. The Bible mentions dates more than 50 times. Dates are sometimes described as the “heavenly fruit” because of how often they are mentioned in religious scriptures.
In Islam, dates are revered: the Prophet Mohammed used to break his fast with a date, making dates a must-have during Ramadan tables worldwide. In the Quran, it is told that the Virgin Mary was given fresh dates when she was experiencing discomfort and pain during the final stages of her pregnancy.
How to make the most of your dates
• Eat the soft dry fruits right out of the box.
• Coat them in molten chocolate.
• Deseed them and stuff them with almonds, walnuts, pecans or Brazil nuts, as well as candied orange or cream cheese and chives.
• Use chopped dates in a fruit salad.
• Because dates are very high in sugar, they make a great sweetener. To make date sugar, arrange sliced dates on a baking sheet and bake at 230°C for 10 to 15 minutes, or until they are very dry and hard as rocks. Grind or put them through a food processor to make sugar.
• To make a healthy ice cream topping, pit 10 medjool dates and combine them with one cup of coconut milk in a saucepan. Bring the mixture to a boil then let it simmer. Mix constantly until the colour deepens. Pour into a food processor or blender, add a dash of salt, then blitz until no chunks remain – date-based caramel sauce in no time.
Better than sugar
Sweet and chewy, with a flavour almost reminiscent of caramel, dates are the best substitute for sweets and the best sugar replacement when it comes to cooking.
Earlier this year, Sarah, a Jordanian mum living in Abu Dhabi, launched the blog www.diaryofalifestylemommy.com to document the healthy recipes she likes to create for her family while working full time. She believes dates are the perfect, healthy snack for adults and children.
“My whole family loves dates,” says Sarah. My children have dates as snacks; I stuff them with nuts all the time and they have up to six a day. I make date smoothies as well, which are a great source of fibre and give you energy in the mornings. I never met anyone who does not like dates. When I am craving sugar, that’s the first thing I go for.”
Health benefits
Rich in dietary fibre, antioxidants and made of simple sugars, dates give an instant energy boost, making them perfect for those who are fasting.
• Dates are rich in vitamins B1, B2, B3, B5, A1 and C and proteins.
• They are a good source of iron (11 per cent) and potassium (16 per cent) and are rich in minerals such as calcium, manganese, copper and magnesium.
• Dates have soluble and insoluble fibres and amino acids that can help improve your digestive system.
• The Liwa Date Festival runs from Wednesday until July 30 in Liwa City, Al Gharbia, Western Region, from 4pm to 10pm. For more information, visit www.visitabudhabi.ae
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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.”
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UAE currency: the story behind the money in your pockets
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
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- NBA-spec basketball court with auditorium
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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