A reader writes that we should be thinking local in the introduction of solar energy. Silvia Razgova / The National
A reader writes that we should be thinking local in the introduction of solar energy. Silvia Razgova / The National

Local production is key to efficiency



Your story, Near-perfect solar absorber highlights bright output for UAE's sun-powered future (August 27), was informative. Local-level production should be encouraged. It is far more efficient than spending billions of dollars on infrastructure and then selling it back to customers. A decentralised approach is key.

Moaz Bhutta, India

I wish the winter Olympics would feature in this region

I refer to your video feature on Zahra Lari trying to make history by becoming the first Emirati to qualify for the Winter Olympics.

Maybe if she qualifies, then local channels will air the winter games, which I prefer over the summer ones but don’t get to see because I live in this region.

Michelle Grissa, Dubai

Beware of your perceptions clouding your judgment

I refer to the story, At least 12 people killed in clashes after Indian guru is found guilty of rape (August 25). The reason for all this violence is belief among his followers that he is innocent.

The problem with blind faith is just that, it makes us blind. Still, last year in Europe and the United States, there were several reports of such crimes, including police shooting innocent people.

That doesn’t make the population of the two continents culprits. This is why perception is always erroneous when we look beyond our setting.

Moaz Bhutta, India

The region can reap the fruit of smaller enterprises

In reference to your article, Saudi Arabia grants investment licences to four Chinese companies (August 25), a refocus on small-scale industries and entrepreneurs is needed. These are the backbone and lifeblood of any country's economy. Measures would include making business licences easier and cheaper to obtain, separating licences from office rent until businesses have a high enough turnover, facilitating visas for businessmen and requesting annual accounts and third party audits.
There are millions of people who don't have access to thousands or even hundreds of dollars but who have great ideas, business skills, work ethic who are finding it difficult to take off given high start-up fees, taxes and uncooperative banks.
The licensing fees that governments collect initially are negligible compared with the money that these small businesses can generate in the local economy if given the chance.

David Pryce, Abu Dhabi

Do generals decide everything on the ground?

In reference to Hussein Ibish's opinion piece, Afghanistan is America's new Vietnam (August 27), are we to assume that the generals will decide everything, even the rules of engagement?

Name withheld by request

When the choices of who leads the way are limited

In reference to the article, Donald Trump: healer or divider of a nation? (August 24), it is a shame that for 300 million citizens, the choice was down to Donald Trump and Hillary Clinton.

Name withheld by request

The specs

Engine: 2.0-litre 4-cylturbo

Transmission: seven-speed DSG automatic

Power: 242bhp

Torque: 370Nm

Price: Dh136,814

SPECS
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UAE currency: the story behind the money in your pockets

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.”

The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

Book%20Details
%3Cp%3E%3Cem%3EThree%20Centuries%20of%20Travel%20Writing%20by%20Muslim%20Women%3C%2Fem%3E%3Cbr%3E%3Cstrong%3EEditors%3A%20%3C%2Fstrong%3ESiobhan%20Lambert-Hurley%2C%20Daniel%20Majchrowicz%2C%20Sunil%20Sharma%3Cbr%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3EIndiana%20University%20Press%3B%20532%20pages%3Cbr%3E%3C%2Fp%3E%0A
2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

FIGHT CARD

From 5.30pm in the following order:

Featherweight

Marcelo Pontes (BRA) v Azouz Anwar (EGY)

Catchweight 90kg

Moustafa Rashid Nada (KSA) v Imad Al Howayeck (LEB)

Welterweight

Mohammed Al Khatib (JOR) v Gimbat Ismailov (RUS)

Flyweight (women)

Lucie Bertaud (FRA) v Kelig Pinson (BEL)

Lightweight

Alexandru Chitoran (BEL) v Regelo Enumerables Jr (PHI)

Catchweight 100kg

Mohamed Ali (EGY) v Marc Vleiger (NED)

Featherweight

James Bishop (AUS) v Mark Valerio (PHI)

Welterweight

Gerson Carvalho (BRA) v Abdelghani Saber (EGY)

Middleweight 

Bakhtiyar Abbasov (AZE) v Igor Litoshik (BLR)

Bantamweight:

Fabio Mello (BRA) v Mark Alcoba (PHI)

Welterweight

Ahmed Labban (LEB) v Magomedsultan Magemedsultanov (RUS)

Bantamweight

Trent Girdham (AUS) v Jayson Margallo (PHI)

Lightweight

Usman Nurmagomedov (RUS) v Roman Golovinov (UKR)

Middleweight

Tarek Suleiman (SYR) v Steve Kennedy (AUS)

Lightweight

Dan Moret (USA) v Anton Kuivanen (FIN)

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%203.0-litre%20six-cylinder%20turbo%20(BMW%20B58)%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20340hp%20at%206%2C500rpm%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20500Nm%20from%201%2C600-4%2C500rpm%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%20ZF%208-speed%20auto%3Cbr%3E%3Cstrong%3E0-100kph%3A%3C%2Fstrong%3E%204.2sec%3Cbr%3E%3Cstrong%3ETop%20speed%3A%3C%2Fstrong%3E%20267kph%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh462%2C189%3Cbr%3E%3Cstrong%3EWarranty%3A%3C%2Fstrong%3E%2030-month%2F48%2C000k%3C%2Fp%3E%0A