Things you learn at university, even before the term’s begun


  • English
  • Arabic

I have just arrived in Cambridge, and see before me only the promised revelries of Freshers’ Week and getting to live by the beautiful Cam river. Term hasn’t started yet, and the reality will probably be struggling to keep afloat in a rising tide of homework and dirty socks, but for now no clouds blot the horizon.

Like every other overenthusiastic fresher, I have been falling over my feet to join hundreds of Facebook groups affiliated to my college, Trinity, and my course, Medicine. The sheer number of students you’re connected to is great. You feel popular because you get a new notification every few minutes. Tiresomely, every group is flooded with advertisements about sunglasses. Salesmen looking for advertising platforms sneak in and post huge pictures of Oakleys with “20% OFF” on them. Why only sunglasses, incidentally – why not umbrellas or wellies? You’re as likely to need to shade your eyes in soggy England as Kim Kardashian is likely to name her next child something sensible.

A student, exasperated with the spamming, emblazoned a pair of sunnies across Isaac Newton’s photo, with the university logo pasted on them. The post bore the legend “Official Cambridge University sunglasses as worn by Sir Isaac Newton, only £59.99 (Dh350). Message me with sort code and account number for discounted price.”

A postscript meekly added: “Some of this may not be true.”

I haven’t even moved into my college at the time of writing this, but from what I’ve heard, it is deliciously quirky. Newton, by the way, was an alumnus of Trinity. The story goes that he’d been sitting under a tree when an apple fell down and he discovered gravity. There’s an apple tree in Trinity that’s apparently descended from that famous tree. I know where I’m going to be doing all of my revision this term, in the hope of being struck by earth-shaking revelations.

On second thought, it’s probably forbidden to sit under the lucky tree – it’s against the rules to walk on the grass in most of the lawns. You earn the privilege of being allowed to walk in one certain garden if your exam results are brilliant. Oh, but even then you can’t, unless you’re wearing full academic dress, including a scholar’s gown.

I am being shown around these novelties by my lovely “college mother”, Penelope. Two older students are assigned to be your “mum” and “dad”, so you have someone to ask questions and help you settle in. Unlike my real parents, who were firmly of the opinion that I was enough of a handful to be getting on with, my college parents have managed to provide me with a brother and a sister: two other freshers.

I am anticipating the adventures that lie ahead. There are all sorts of things to be done, from punting to doing up my room and experiencing the formal candlelit dinners. University marks the beginning of a new life, and I’ve already learnt new things – not least where to look for discounts on sunglasses.

Lavanya Malhotra is an 18-year-old student who grew up in Dubai

SPEC%20SHEET%3A%20APPLE%20IPHONE%2015%20PRO%20MAX
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West Asia Premiership

Dubai Hurricanes 58-10 Dubai Knights Eagles

Dubai Tigers 5-39 Bahrain

Jebel Ali Dragons 16-56 Abu Dhabi Harlequins

The specs: 2017 Lotus Evora Sport 410

Price, base / as tested Dh395,000 / Dh420,000

Engine 3.5L V6

Transmission Six-speed manual

Power 410hp @ 7,000rpm

Torque 420Nm @ 3,500rpm

Fuel economy, combined 9.7L / 100km

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.”

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law