CNBC, the leading business and financial news network, began broadcasting from its new Middle East studio and headquarters in Abu Dhabi today. The state-of-the-art facility within Abu Dhabi Global Market (ADGM), the UAE capital’s international financial centre will act as CNBC’s hub in the Middle East, delivering all the latest business and finance news from across the region.
The anchors
Starting today, the network will broadcast Capital Connection, fronted by its Middle East Anchor Hadley Gamble, from the new facility at 8am UAE time from Monday to Thursday. CNBC's Nancy Hungerford will co-anchor the show from the network's Asia Headquarters within the Singapore Exchange, bringing viewers across the world daily coverage of the Middle East markets, business stories and regional news from Asia, Europe and the US.
Abu Dhabi: a new chapter
Speaking after the inaugural show, Gamble said: “We’ve been reporting the Middle East business story to CNBC’s elite global audience for years. The launch of our new home within ADGM starts a new chapter in our reporting from the region. These new state-of-the-art studios provide us with a fantastic platform to tell the global business story through a unique Middle East lens.”
During the show, CNBC unveiled an impressive guest line-up for its first week of programming from the Middle East, including exclusive interviews with Mohamed Khalifa Al Mubarak, chairman of Aldar Properties; HE Saif Saeed Ghobash, director general of Abu Dhabi Department of Culture and Tourism; Jassim Alseddiqi, CEO of Abu Dhabi Financial Group; Saudi Prince Turki Al-Faisal and Mohammed Al Ardhi, chairman of Investcorp. On today’s show, Gamble was joined by Peter Baumgartner, CEO of Etihad Airways; Luka Mucic, CFO of SAP and Egyptian billionaire Naguib Sawiris.
John Casey, CNBC’s SVP of international news and programming said: “CNBC broadcasts daily from the network’s International Headquarters in New York, London and Singapore. With the addition of our new Middle East Headquarters at ADGM, we plan to connect Abu Dhabi to the world's financial capitals.”
The network also plans to extend both its feature franchise Access Middle East and its regional event coverage, as part of the regional expansion.
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KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
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The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
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Company%20Profile
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Killing of Qassem Suleimani
