English teams carefully optimistic on arrival in Delhi



English teams are carefully optimistic about clean up effort Tim Sullivan NEW DELHI // The first foreign competitors arrived yesterday for the troubled Commonwealth Games, where frantic last-minute work by an army of cleaners was said to be paying off with improved conditions at the fetid athletes' village. The English hockey and lawn bowling teams landed in the city, and although they will be staying in hotels before moving to the village, their arrival was an enormous relief for India, whose image has been battered for days by negative publicity about filthy accommodations, unfinished construction and security problems for the games.

Fears that some countries would pull out of the games that begin on October 3 eased when New Zealand and Australia - both harsh critics of India's preparations - said their athletes would attend. Some problems still needed to be resolved before the start of the Olympic-style competition that brings together about 7,000 athletes and officials from 71 countries and territories. The criticism did not stop, with the head of Australia's Olympic Committee saying India should not have been awarded the games.

The past few days of chaos have badly battered India's reputation and its pride, as organizers struggled - all too publicly - with the filthy housing complex, dangerous construction, swarms of disease-carrying mosquitoes and security fears. Manmohan Singh, the prime minister, held an emergency meeting Thursday night and demanded that officials ensure the games were successful. City officials deployed as many as 1,000 mop- and bucket-carrying workers to clean the village and make repairs. Hundreds more workers were scattered across the city. Their tasks included painting lines on roads, laying fresh grass in front of official venues and spraying mosquitoes.

Police roadblocks and teams of soldiers with assault rifles have become commonplace. Mike Fennell, the Commonwealth Games Federation president who had rushed to New Delhi on Wednesday to deal with the troubles, said "considerable improvements have been made within the village". Fennell toured the village and met with top officials to discuss the preparations. The work must continue "with the greatest urgency", he said in a statement.

Some roads remain pitted with deep potholes after weeks of heavy monsoon rains; water was still standing in the basements of some buildings at the village; many medical workers for the games were reportedly still waiting for their passes; and a north Indian farmer caste - who have long demanded they be officially listed as low-caste to gain more government benefits - were threatening to bring chaos to the city by flooding the roads with cattle.

Craig Hunter, England's chef de mission, said he was glad to see the work in the village, but added "we are in a phase of looking at the detail, making sure that fire and safety equipment and procedures are in place and that the apartments are clean and safe". His upbeat comments were tempered with warnings. "Our next wave of athletes arrives [tomorrow] and a lot still needs to happen before then."

Athletes echoed his comments. "The flats are spacious, which is good for a major games, but there are bits and pieces to be done to bring them up to standard," the English hockey player Ben Middleton said. "A couple of days will make a difference." * Associated Press

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

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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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Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

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
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills

Also on December 7 to 9, the third edition of the Gulf Car Festival (www.gulfcarfestival.com) will take over Dubai Festival City Mall, a new venue for the event. Last year's festival brought together about 900 cars worth more than Dh300 million from across the Emirates and wider Gulf region – and that first figure is set to swell by several hundred this time around, with between 1,000 and 1,200 cars expected. The first day is themed around American muscle; the second centres on supercars, exotics, European cars and classics; and the final day will major in JDM (Japanese domestic market) cars, tuned vehicles and trucks. Individuals and car clubs can register their vehicles, although the festival isn’t all static displays, with stunt drifting, a rev battle, car pulls and a burnout competition.

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