At last, someone has spoken out (Call for national strategy to boost technical training, May 16). The HCT (Higher Colleges of Technology) has long-forgotten its purpose.
It was set up as a technical institution but a succession of managers, practically all hired from western universities, have put all their efforts into trying to turn it into a university.
Whereas the teachers in most technical institutions are practitioners in their subject area, HCT has insisted on hiring academics - insisting on the need to have teachers with higher and higher academic qualifications at the expense of practical skills and hands-on experience in their subject matter.
The time has come to reverse this and return HCT to the real world and to the function for which it was originally intended.
LA Waygood, Abu Dhabi
Deeper concern about 'toy' subs
The National did a good job with The leaky sub and the skipper in court on a depth charge (May 17); the story and headline were entertaining.
But there is a serious subtext (no joke intended) in this: besides being toys for the wealthy, mini-submarines have some other uses that are not quite so droll.
There are several reports of quite sophisticated subs being used to transport cocaine and other drugs from South America to the US. And US security officials have not missed the potential for terrorist use of such hard-to-detect vehicles.
The Dubai police may have been puzzled about just what the mini-sub's user did wrong, but there is, unfortunately, a real need to regulate these costly gadgets.
Carlos Montoya Aguirre, Dubai
Australia rules with liquorice
I'm with Nouf Al Qasimi (My obsession with liquorice started at a young age and continues today, May 17). I, too, love liquorice.
But I don't much like the Panda brand mentioned in her article; there's something not quite right with the texture.
I haven't found the New Zealand brand she mentions, but the best liquorice I know, available in the US, is a soft type from Australia. It's sold in bulk and I don't know the brand name.
Kate Kearnes, Abu Dhabi
Exit of a fighter against corruption
I refer to Fayyad out as finance minister in PA reshuffle (May 17).
I don't pretend to begin to understand Palestinian internal politics, but it's rarely a good sign when somebody famous for fighting corruption is forced out of the leadership of any organisation.
Frank Lyman, US
A good partner is the greatest gift
I write regarding your story A dilemma for brides-to-be: where are the Emirati men? (April 23).
All over the world, educated young women are seeking compatible husbands. This kind of "dilemma" is not a phenomenon only in the UAE.
It is more difficult to find the right life companion than succeeding in a profession or business. It's the price of emancipation.
Angelika Lancsak, UK
A warlord by another name
I refer to the news story, A search for answers as UN trial of Bosnian Serb warlord begins (May 16).
I see that Ratko Mladic is simply referred to as a "warlord" while he is known worldwide as the "Butcher of Bosnia" and is charged with genocide, crimes against humanity and the killing of thousands of civilians in Srebrenica in 1995,
Mladic has been quoted as saying: "Tell me what I have done wrong." I am sure that both the prosecutors and the witnesses will tell him.
Ali Sedat Budak, Abu Dhabi
Cloning around with camels
Regarding Camel clone has the looks of a winner (May 14), it's probably cheaper just to buy them from Australia.
We have millions of them that we would love to get rid of.
Kim Asher, Australia
Fangs are out for vampire movie
Thanks for the interview with Tim Burton (Hit-making in his house of horrors, May 17).
Although I am a fan of a lot of his wonderfully inventive work, I am sorry that he has lowered himself to do a vampire movie.
He says it's a "supernatural soap opera", but I'm worried. I will go to see the film, but I fear the worst.
Patricia Hayem, Abu Dhabi
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