Emirates will operate daily flights to Montreal from July.
The Dubai airline is expanding its network by adding its first non-stop flights to the largest city in Quebec.
It is the airline’s second destination in Canada, after Toronto, where the airline has been flying to for 16 years.
From July 5, Emirates will fly daily to Montreal via its Boeing 777 aircraft. Return airfares for the journey start from Dh5,555.
Flights to the city will operate with first class, business class and economy class cabins, and a flying time of 13 and a half hours.
From Dubai, flights to Pierre Elliott Trudeau International Airport will depart at 2.30am, arriving in Montreal at 8am. Return services will depart from the Canadian hub just after 10am and land in the UAE at 6.30am the following day.
“Emirates is excited to launch our second gateway into Canada as we expand our reach in the country with direct services from our hub in Dubai. As a major metropolitan centre and as Canada’s second largest city, we are pleased to add Montreal to our growing global network of over 130 destinations and strengthening our coverage in the Americas to reach 18 points served by our services from Dubai,” said Adnan Kazim, Emirates’ chief commercial officer.
Home to the world’s largest jazz festival and the Canadian host for the Formula One Grand Prix, Montreal is famed for its European vibes — French is its first language — and its thriving cultural scene.
Montreal is the fourth largest French-speaking city in the world but the majority of its population is bilingual, speaking both French and English.
Canada is one of Dubai’s top 20 source markets for inbound tourism. The emirate welcomed 158,000 Canadian visitors last year, according to Dubai’s Department of Economy and Tourism.
Emirates' new service will launch just in time for the busy summer period, giving travellers flying to and from Canada more choice for travel to the UAE.
It is the latest in a series of network developments for air travel between Canada and the UAE following the signing of an agreement between the destinations to boost bilateral flight services.
Earlier this month, Emirates announced it was adding to its North American network by adding daily A380 superjumbo flights to Toronto.
Etihad Airways, the national airline of the UAE, is also increasing flights to Toronto following the agreement between the two nations. From May 30, the national airline of the UAE will operate daily flights between Abu Dhabi and Toronto, in “response to strong travel demand between the UAE and Canada”.
Air Canada will begin flying from Vancouver to Dubai, the only non-stop flights from western Canada to any destination in the Middle East, in October.
Last year, Emirates and Air Canada signed a codeshare deal covering 46 destinations across North America, the Middle East, Africa, South-East Asia and India.
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Pakistan squad
Sarfraz (c), Zaman, Imam, Masood, Azam, Malik, Asif, Sohail, Shadab, Nawaz, Ashraf, Hasan, Amir, Junaid, Shinwari and Afridi
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.”
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
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Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
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Mainz 0
RB Leipzig 5 (Werner 11', 48', 75', Poulsen 23', Sabitzer 36')
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ELIO
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Andor
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- Flexible payment plans from developers
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Bonucci (36')
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Running your losers
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Selling in a panic
If you sell up when the market drops, you have locked yourself out of the recovery.
Timing the market
Even the best investor in the world cannot consistently call market movements.
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Simon Nadim has completed 7,000 dives.
The hardest dive in the UAE is the German U-boat 110m down off the Fujairah coast.
As a child, he loved the documentaries of Jacques Cousteau
He also led a team that discovered the long-lost portion of the Ines oil tanker.
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Edge has an annual revenue of $5 billion and employs more than 12,000 people.
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Date of birth: 27 May, 1995
Place of birth: Dubai, UAE
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University: University of Sharjah
Degree: Renewable and Sustainable Energy
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How much do leading UAE’s UK curriculum schools charge for Year 6?
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- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
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