The welcome
It was raining as I landed on the island of Koh Samui, but in spite of the unseasonal weather the driver who fetched me was so enthusiastic about the new hotel and the island where he lived I barely noticed the thunderous clouds looming on the horizon. On arriving at Banyan Tree, Chutima, my "personal villa host", fast-tracked my check-in and sped me to my villa in a golf buggy. Overnight, the storm worsened. I was scheduled to leave the following day but roads were closed and flights cancelled. Fredrick Arul, the general manager, gently insisted I stay until the weather improved - the hospitality here, in typical Thai style, is near faultless. (For the record, the rain was unusual for the time of year - there is generally unbroken sunshine between March and August).
The neighbourhood
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The aim of many guests staying here is to get away from it all, and anyone who wants to venture outside the property will only find a few roadside restaurants nearby. For a night out, guests must leave the sleepy southeastern shore and take a taxi to Chaweng. This hub of bars and eateries has been rather spoiled over the years by mass tourism but it still has one of the loveliest stretches of sand in Thailand.
The service
This is the Banyan Tree's third property in Thailand (after Bangkok and Phuket) and service is all-round excellent. This resort is especially tailored to the demands of the individual, and personal hosts (one per villa), are responsible for chauffeuring guests around the resort. They can also organise activities such as Batik painting and Thai language lessons.
The room
The 78 stilted villas cling to a steep hillside in a feat of engineering, and many have sensational views of Lamai Bay. I loved the generous terraces and sizeable private infinity pools, some of the biggest on the island. Muted, contemporary interiors were offset by local art and traditional textures, including coconut palm and coconut shell. Perched highest on the hill are the royal Banyan pool villas, which have some of the most dramatic views, while the spa pool villas boast en-suite rooms for customised treatments.
The scene
The resort is already a favourite with honeymooners tempted here by thoughtful touches such as the private candlelit dégustation dinner on the beach (exclusively reserved for one couple each night). But this property is not only for die-hard romantics. The Rainforest, a hydrotherapy wellness spa offers jungle-themed aquatic experiences that include an artificial-rain walkway, a crushed-ice fountain and scented steam chambers. There also are pummelling waterfalls, thumping water jets and a "bucket drench" shower. Classes offered include indoor aqua, yoga and Thai boxing.
The food
Saffron, the signature Thai restaurant, serves excellent classics such as tom yum koong(spicy lemon grass soup with tiger prawns; 480 Thai baht [Dh57] ), and khao neauw mamuang(fresh mango with coconut sauce and sticky rice; 320 baht; Dh38). At times, the effort to romanticise the moment can be cloying, with a band playing love songs and waiters taking souvenir photos of guests (even solo diners) too polite to decline. Other dining spots include The Edge, which is best at breakfast time with its array of fresh fruit, breads and pastries. For lunch, head to Sands on the beachfront for chargrilled and wood-fired seafood, steak and pizza.
Loved
The dramatic clifftop location. The spa with its army of well-trained masseurs. Treat yourself to the Royal Banyan spa treatment - it includes a herbal pouch massage with sesame oil and a vigorous face massage.
Hated
Having to call a buggy every time I wanted to move out of my villa; the property is not vast but the lanes are not pedestrian-friendly. Also, the gorgeous-looking beach is marred by a rocky shoreline, although the hotel supplies protective water shoes. It is looking into ways for guests to bypass the shoreline and directly enter deeper water.
The verdict
Koh Samui has come of age. With the opening of several high-end hotels such as Banyan Tree Samui, the island - once known for budget backpackers and full-moon parties - is now appealing to the well-heeled traveller looking to cosset themselves in a beautiful villa with butler service and world-class spa treatments.
The bottom line
A garden pool villa costs from 25,640 baht (Dh3,050) per night, including taxes. Banyan Tree Samui 99/9 Moo 4 Maret, Koh Samui, Thailand (www.banyantree.com; 00 66 77 915 333).
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The specs: 2018 Opel Mokka X
Price, as tested: Dh84,000
Engine: 1.4L, four-cylinder turbo
Transmission: Six-speed auto
Power: 142hp at 4,900rpm
Torque: 200Nm at 1,850rpm
Fuel economy, combined: 6.5L / 100km
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.”
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
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
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
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
UAE currency: the story behind the money in your pockets
Surianah's top five jazz artists
Billie Holliday: for the burn and also the way she told stories.
Thelonius Monk: for his earnestness.
Duke Ellington: for his edge and spirituality.
Louis Armstrong: his legacy is undeniable. He is considered as one of the most revolutionary and influential musicians.
Terence Blanchard: very political - a lot of jazz musicians are making protest music right now.
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
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Opening Rugby Championship fixtures:Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
About RuPay
A homegrown card payment scheme launched by the National Payments Corporation of India and backed by the Reserve Bank of India, the country’s central bank
RuPay process payments between banks and merchants for purchases made with credit or debit cards
It has grown rapidly in India and competes with global payment network firms like MasterCard and Visa.
In India, it can be used at ATMs, for online payments and variations of the card can be used to pay for bus, metro charges, road toll payments
The name blends two words rupee and payment
Some advantages of the network include lower processing fees and transaction costs
More from Armen Sarkissian
MATCH INFO
Uefa Champions League quarter-final, second leg (first-leg score):
Manchester City (0) v Tottenham Hotspur (1), Wednesday, 11pm UAE
Match is on BeIN Sports
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