An EU report that doesn't bother with actual facts


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We have known each other for decades. Since the days of the UAE's founding, the country has had deep relationships with western countries, especially in Europe. It is not just business relationships, either - Emiratis travel to Europe for pleasure and European expatriates have long made their homes in the UAE.

That is partly why a recent resolution by the European Parliament - placing the UAE among a group of "human rights abusers" - has been such a shock to Emiratis. The resolution, which focused on labour issues and other human-rights conditions, also singled out the UAE based on the treatment of expatriate women.

The resolution, and the debates and discussions that preceded it, seemed to underscore the fact that members of the European Parliament (MEPs) know nothing about the UAE.

In practice, the European Parliament has little political significance even on the continent. Its resolutions are relegated to the realm of the talk shop, and decisions by the MEPs rarely have any actual influence. Nor do they represent the official policy of national governments.

But labelling the UAE as a human-rights abuser - based on clear misunderstandings about the country - is still a very irresponsible act. In its resolution, the Parliament places UAE policy issues on the same level as grave human-rights abuses - such as the attack on Malala Yousafzai in Pakistan and the Taliban's harassment of girls in that country. By confusing the two situations, the MEPs diminish the very real threats against girls like Malala.

The Government of the UAE has further reiterated its duty of protecting women's rights in response to the Parliament's allegations. In the Middle East, the UAE is well know for its championing of women's rights and empowerment.

The allegations based on unsubstantiated claims lead to questions about the political motivations. Was the goal to effect change, or to simply attack the UAE?

Interestingly, there have been no widespread complaints by Emiratis themselves on these issues. The overwhelming majority of Emiratis are satisfied with the Government and what takes place here, even if they may have criticisms on some issues.

The Government is known for its policy of tolerance, including towards expatriates, and the endeavour to create a better quality of life for citizens. Unlike in most other Arab countries, citizens generally believe that tomorrow will be better than today thanks to good governance - and it is no surprise that young Arabs across the region want to come to the UAE.

Of course, there are some sections of the population that are unsatisfied. These are such a small number that they hardly count as a movement. Some activists want more democratic rights or a multi-party system, and the Government has committed to increasing representation and reforming the political system.

But Emiratis are aware that the pace of change matters. Furthermore, in the UAE there is a clear structure for individuals to express themselves or to address their concerns to the Government.

The European Parliament debate came to the fore as the UAE has moved to deal aggressively with Islamist movements within its borders. The Parliament's reaction has been to paint the UAE as intolerant. However, such movements including Al Islah and other Muslim Brotherhood-related groups, have a history of spreading radical and intolerant ideologies in the country.

More than 60 suspected members are being held by authorities pending trial, on charges including that they have received support from foreign groups and sought to overthrow the Government.

The UAE is known for welcoming expatriates from all over the world - on the condition, of course, that they do not threaten national security.

To address the European Parliament's resolution regarding labour rights, there needs to be some historical context. The Government has worked hard in recent years to ensure that contracts are honoured, that salaries are paid on time, and that living conditions and safety standards are monitored by authorities.

To enhance worker protections, the UAE has collaborated with South and South-east Asian countries to improve conditions in particular for lower paid workers. There are problems that remain, but the UAE is working to fix them.

The UAE Ministry of Foreign Affairs has already rejected the European Parliament's claims as unsubstantiated and based on hearsay. Indeed, we have to wonder whether the MEPs bothered to do any research on the particular circumstances of the UAE before reaching these conclusions.

Dr Salem Humaid is an Emirati writer on social and political affairs

On Twitter: @bgsalem

BLACK%20ADAM
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TOURNAMENT INFO

Opening fixtures:
Friday, Oct 5

8pm: Kabul Zwanan v Paktia Panthers

Saturday, Oct 6
4pm: Nangarhar Leopards v Kandahar Knights
8pm: Kabul Zwanan v Balkh Legends

Tickets
Tickets can be bought online at https://www.q-tickets.com/apl/eventlist and at the ticket office at the stadium.

TV info
The tournament will be broadcast live in the UAE on OSN Sports.

How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

MATCH INFO

Final: England v South Africa, Saturday, 1pm

The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 240hp at 5,500rpm

Torque: 390Nm at 3,000rpm

Transmission: eight-speed auto

Price: from Dh122,745

On sale: now

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

Company profile

Name: Infinite8

Based: Dubai

Launch year: 2017

Number of employees: 90

Sector: Online gaming industry

Funding: $1.2m from a UAE angel investor

'Downton Abbey: A New Era'

Director: Simon Curtis

 

Cast: Hugh Bonneville, Elizabeth McGovern, Maggie Smith, Michelle Dockery, Laura Carmichael, Jim Carter and Phyllis Logan

 

Rating: 4/5

 
Score

Third Test, Day 1

New Zealand 229-7 (90 ov)
Pakistan

New Zealand won the toss and elected to bat

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Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Company%20profile
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Company profile

Name: Steppi

Founders: Joe Franklin and Milos Savic

Launched: February 2020

Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year

Employees: Five

Based: Jumeirah Lakes Towers, Dubai

Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings

Second round raised Dh720,000 from silent investors in June this year

A%20QUIET%20PLACE
%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Lupita%20Nyong'o%2C%20Joseph%20Quinn%2C%20Djimon%20Hounsou%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EMichael%20Sarnoski%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Tomb%20Raider%20I%E2%80%93III%20Remastered
%3Cp%3EDeveloper%3A%20Aspyr%0D%3Cbr%3EPublisher%3A%20Aspyr%0D%3Cbr%3EConsole%3A%20Nintendo%20Switch%2C%20PlayStation%204%26amp%3B5%2C%20PC%20and%20Xbox%20series%20X%2FS%0D%3Cbr%3ERating%3A%203%2F5%3C%2Fp%3E%0A
French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.

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.”

FIXTURES

Saturday
5.30pm: Shabab Al Ahli v Al Wahda
5.30pm: Khorfakkan v Baniyas
8.15pm: Hatta v Ajman
8.15pm: Sharjah v Al Ain
Sunday
5.30pm: Kalba v Al Jazira
5.30pm: Fujairah v Al Dhafra
8.15pm: Al Nasr v Al Wasl

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

CHELSEA'S NEXT FIVE GAMES

Mar 10: Norwich(A)

Mar 13: Newcastle(H)

Mar 16: Lille(A)

Mar 19: Middlesbrough(A)

Apr 2: Brentford(H)

Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

RACE CARD

6.30pm: Maiden (TB) Dh82,500 (Dirt) 1,200m

7.05pm: Maiden (TB) Dh82,500 (D) 1,900m

7.40pm: Handicap (TB) Dh102,500 (D) 2,000m

8.15pm: Conditions (TB) Dh120,000 (D) 1,600m

8.50pm: Handicap (TB) Dh95,000 (D) 1,600m

9.25pm: Handicap (TB) Dh87,500 (D) 1,400m