Obaida, 8, was kidnapped in May of last year while playing outside his father’s garage in Sharjah’s industrial area. His body was found two days later.
Obaida, 8, was kidnapped in May of last year while playing outside his father’s garage in Sharjah’s industrial area. His body was found two days later.

Little Obaida was everyone's son, brother and friend



I refer to your article Man who raped and murdered eight-year-old Obaida is executed in Dubai (November 24). I have a son the same age, and my heart breaks for this family and the innocent victim. The perpetrator is dead, as he should be, and should never be spoken of again. It is the victim, his family, his friends and other potential victims who should be the focus now. This boy was everyone's son, brother and friend. He will forever be remembered by my family and many others.

Ela Jayne, Abu Dhabi

Rest in peace, little one. This story was so sad, heartbreaking and infuriating. May his family finally try to get on with their lives. Life will be different, but at least some kind of justice has been done.

Chika Marie, Abu Dhabi

The hand of kindness isn't always extended

In reference to your article A trip to lost and found at the Dubai Mall sheds light on human decency (November 25), the same happened to me at Dubai airport but unfortunately, no such show of human decency prevailed that day, as some other passenger took it.

Ahmed Shumayal, Al Ain

Yet another gem to be added to UAE heritage

In reference to your article Abu Dhabi hidden gem Bayt Al Jenaibi should be preserved (November 25), it is just one more thing to be added to a long list of cultural heritage sites. A real gem.

Lenette Hartman, Abu Dhabi

Oryx are beautiful and graceful animals

Your article Oryx released into sprawling Abu Dhabi protected reserve (November 23) was great to read. This is a lovely initiative. They are beautiful and graceful animals. We have many of them in Namibia.

Irmgard Kronsbein-Bellchambers, Frankfurt

Organisation at Ed Sheeran concert was not up to the mark

I refer to your article Review: Ed Sheeran charms and conquers Dubai to cap off epic year of concerts (November 24). I'm sorry to say that once again, the organisation of the event was terrible. There was horrendous traffic and it took two hours to get to and from downtown Dubai. Uber taxis were forced to drop us an entire kilometre away from the venue.

They ran out of wristbands for the VIP zone at the main entrance so they just stopped giving them out at all. The result was that once we had barely made our way through the overbooked regular zone, security blocked us from entering the front zone for which we had paid and some even refused to look at the ticket as proof that we were in the right zone. We also didn't get the vouchers promised to us. It was certainly not worth the Dh1,190 we paid.

Thomas Ment, Dubai

Who will be held responsible for all this regional destruction?

In reference to your article Israel raid on Raqqa led to ban on laptops on airplanes (November 24), the United States and Russia are good countries in the eyes of many in the world, but what about the fact that they destroyed Syria and the lives of millions?

Zakir Hossain, Bangladesh

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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.”

Schedule for Asia Cup

Sept 15: Bangladesh v Sri Lanka (Dubai)

Sept 16: Pakistan v Qualifier (Dubai)

Sept 17: Sri Lanka v Afghanistan (Abu Dhabi)

Sept 18: India v Qualifier (Dubai)

Sept 19: India v Pakistan (Dubai)

Sept 20: Bangladesh v Afghanistan (Abu Dhabi) Super Four

Sept 21: Group A Winner v Group B Runner-up (Dubai) 

Sept 21: Group B Winner v Group A Runner-up (Abu Dhabi)

Sept 23: Group A Winner v Group A Runner-up (Dubai)

Sept 23: Group B Winner v Group B Runner-up (Abu Dhabi)

Sept 25: Group A Winner v Group B Winner (Dubai)

Sept 26: Group A Runner-up v Group B Runner-up (Abu Dhabi)

Sept 28: Final (Dubai)

UAE currency: the story behind the money in your pockets
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

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5