With regard to your story, Wife of Emirati soldier killed in Yemen still waits for him to call (September 7), I am also a UAE soldier's wife and reading this breaks my heart so badly.
It means so much to me when others express their concern for the welfare of not just the soldiers but also their families.
Nadia Alameri, Dubai
I struggle to even read this story. It's a very difficult subject.
I pray for the safety of all the UAE soldiers and their families all the time. As expatriates, we owe everything to this country.
Christine Rollon Blanco, Abu Dhabi
I can't see for tears when I read this quote from Abeer Eid Al Rida, whose husband was among those who died in Yemen: “I am the wife of the hero. I am the wife of the martyr. He made us proud in his life and in his death. I will always hold my head up high.”
I can't even begin to imagine the pain she is going through.
Judith Cooke Welling, Abu Dhabi
These families will need so much emotional support. May Allah grant them peace.
Name withheld by request
Loss can help build a nation
In relation to the plans to remember the UAE servicemen who died in Yemen (Museum to be built to commemorate UAE's fallen heroes, September 7), I recall that when Australians and New Zealanders commemorate Anzac Day, they are not only honouring the terrible toll of war dead from the Gallipoli conflict in 1915 but are also recognising an event that helped forge their concept of nationhood.
Emerging from such traumatic events speaks volumes about a national narrative. In extending my deepest sympathy to the UAE for the tragic loss of 45 of their brave soldiers in Yemen, may I in turn extend my admiration for the resolve, solidarity and determination that the UAE has displayed as it braces itself to the challenge.
These are not the actions of just a country – but of a proud nation.
Matthew Maynard, Abu Dhabi
Pension scheme raises questions
Your editorial, Pension scheme would benefit all (September 8), postulates how part of one's salary could be put into a retirement fund, which would help build the country.
In Australia, this system is called superannuation. Money is to be taken out of one's salary on a monthly basis and put into a specific retirement account.
Expatriates would have to be able to access that money when they leave the UAE, whether to retire or to work somewhere else.
John Paravalos, Dubai
Expatriates working in the UAE need to start planning their exit strategy as soon as they can – it doesn't matter if they arrived here 30 minutes ago, 30 years ago or were born here.
Even if they own property here, they need to show an income to be able to stay and they will have to leave the UAE within 28 days when their visa expires or is cancelled.
All expatriates need to remind themselves that they have to earn their keep in this country.
Muzammil Sk, Dubai
Parents can instil a love of reading
After reading your editorial, Why we need more libraries (September 7), it seems that reading is in decline because in this fast-paced world, fewer people are interested in educating themselves.
The advent of e-learning has contributed to a decline of the habit of reading printed books. I believe it becomes the duty of parents to revive this culture so children are aware that there is something beyond the television, Facebook, texting and playing the latest gadgets.
Parents who want to give their children something real and precious ought to inculcate the habit of reading. It can be a lifelong gift that children will cherish. They say that there are a thousand ways to nurture and shape a child’s mind but none is better than reading.
Developing a reading habit – whether a newspaper or a book – is bound to have a multi-dimensional effect on their personality. I know there are many parents who share my belief that reading makes a child more imaginative. They are also more likely to have a stronger bonds with their parents and those around them.
Mathew Litty, Dubai
With the easy access to the internet in the UAE, with almost every student having access to a laptop or some computing device, I think the concept of virtual libraries should be considered.
Randall Mohammed, Dubai
Marathon results
Men:
1. Titus Ekiru(KEN) 2:06:13
2. Alphonce Simbu(TAN) 2:07:50
3. Reuben Kipyego(KEN) 2:08:25
4. Abel Kirui(KEN) 2:08:46
5. Felix Kemutai(KEN) 2:10:48
Women:
1. Judith Korir(KEN) 2:22:30
2. Eunice Chumba(BHR) 2:26:01
3. Immaculate Chemutai(UGA) 2:28:30
4. Abebech Bekele(ETH) 2:29:43
5. Aleksandra Morozova(RUS) 2:33:01
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Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
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.”
Results
6.30pm: Al Maktoum Challenge Round-2 Group 1 (PA) US$75,000 (Dirt) 1,900m
Winner: Ziyadd, Richard Mullen (jockey), Jean de Roualle (trainer).
7.05pm: Al Rashidiya Group 2 (TB) $250,000 (Turf) 1,800m
Winner: Barney Roy, William Buick, Charlie Appleby.
7.40pm: Meydan Cup Listed Handicap (TB) $175,000 (T) 2,810m
Winner: Secret Advisor, Tadhg O’Shea, Charlie Appleby.
8.15pm: Handicap (TB) $175,000 (D) 1,600m
Winner: Plata O Plomo, Carlos Lopez, Susanne Berneklint.
8.50pm: Handicap (TB) $135,000 (T) 1,600m
Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass.
9.25pm: Al Shindagha Sprint Group 3 (TB) $200,000 (D) 1,200m
Winner: Gladiator King, Mickael Barzalona, Satish Seemar.
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Profile of MoneyFellows
Founder: Ahmed Wadi
Launched: 2016
Employees: 76
Financing stage: Series A ($4 million)
Investors: Partech, Sawari Ventures, 500 Startups, Dubai Angel Investors, Phoenician Fund
