Supporters of Tamil Nadu chief minister Jayalalithas Jayaram keep vigil outside the hospital in Chennai where she is being treated on December 4, 2016. Arun Sankar / AFP
Supporters of Tamil Nadu chief minister Jayalalithas Jayaram keep vigil outside the hospital in Chennai where she is being treated on December 4, 2016. Arun Sankar / AFP

South Indian politician Jayalalithaa suffers cardiac arrest



New Delhi // The ailing chief minister of southern India’s Tamil Nadu state, Jayalalithaa Jayaram, has suffered a cardiac arrest only days after she handed many of her responsiblities to a deputy because of illness.

“CM [Jayaram], who is undergoing treatment at Apollo Hospitals, suffered a cardiac arrest this evening,” Dr Subbaiah Viswanathan from the hospital said on Sunday.

“She is being treated and monitored by a team of experts, including cardiologists, pulmonologist and critical care specialists.”

Ms Jayalalithaa, 68, was admitted to hospital on September 22 suffering from fever and dehydration and has been on respiratory support.

Authorities have said little about the state of the hugely popular politician after several of her supporters resorted to self-harm when she was jailed briefly in 2014 on charges of corruption.

Her latest medical setback comes only days after doctors and senior leaders from her regional party talked about her recovery and imminent return to active political duties.

A former movie star, Ms Jayalalithaa is known to fans simply as Amma (Mother) thanks to a series of highly populist schemes and election-time freebies including electric blenders, goats and small amounts of gold.

Over the last few weeks, some of her fans and supporters have resorted to extreme steps while praying for her good health and speedy recovery.

Some have performed sacrifices to try to change her fate. Recent images in the local media showed scores of children with metal arrows piercing their cheeks and holding her photo as they prayed for her recovery.

Soon after reports of her cardiac arrest, news channels showed her supporters, particularly women, crying publicly and gathering in their hundreds outside the hospital.

* Agence France-Presse

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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Feeding the thousands for iftar

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The rice porridge is poured into a 500ml plastic box

350 plastic tubs are placed in one container trolley

Each aluminium container trolley weighing 300kg is unloaded by a small crane fitted on a truck

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

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  • Premier League-standard football pitch
  • 400m Olympic running track
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The biog

Name: Abeer Al Shahi

Emirate: Sharjah – Khor Fakkan

Education: Master’s degree in special education, preparing for a PhD in philosophy.

Favourite activities: Bungee jumping

Favourite quote: “My people and I will not settle for anything less than first place” – Sheikh Mohammed bin Rashid.

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

Europe’s rearming plan
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  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
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Tips to avoid getting scammed

1) Beware of cheques presented late on Thursday

2) Visit an RTA centre to change registration only after receiving payment

3) Be aware of people asking to test drive the car alone

4) Try not to close the sale at night

5) Don't be rushed into a sale 

6) Call 901 if you see any suspicious behaviour

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. 

RACE CARD

6.30pm: Baniyas Group 2 (PA) Dh 97,500 (Dirt) 1,400m.

7.05pm Maiden (TB) Dh 82,500 (D) 1,200m

7.40pm Maiden (TB) Dh 82,500 (D) 1,400m

8.15pm Handicap (TB) Dh 82,500 (D) 1,400m

8.50pm Rated Conditions (TB) Dh 120,000 (D) 1,600m

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The White Lotus: Season three

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Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

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