The Sheikh Zayed Heritage Festival is an extension of a tradition that started more than 30 years ago.
The Al Wathba area, where the festival is held, is very much known for camel racing. Over the years, camel racing grew until it resembled a mini festival.
About seven years ago, the leadership of the UAE tasked the organising committee with working on a much bigger annual event.
We initially focused on Emirati heritage, but as the festival became more popular, in 2014, we divided it into a circuit with four areas representing the four environments in which people traditionally lived and worked in the UAE – by the sea, the desert, the oasis and the mountains, in recognition of that fact each geographical area had its own way of living, its own songs and handicrafts.
We also made strategic partnerships with exhibitions – for example the National Archive, which has rare images of Sheikh Zayed and historical documents.
Also that year, other countries took part, displaying their traditional folk art, and the festival had almost half a million visitors.
A lot of GCC and other Arab countries started asking if they could participate, so last year six countries came to showcase their traditional products.
This year, building on our theme of “Where world cultures meet”, we have 17 countries represented and the architecture of each cultural district at the festival resembles the architecture of the participating country.
We have 500 traditional shops selling handicrafts, 20 cooking stations and 1,500 shows being performed over 10 stages.
The UAE today has about 200 nationalities living together. In this festival, we celebrate the UAE as a place where people from different civilisations come to build, create and live safely, being understanding and tolerant of each other.
It’s very important, for the younger generation especially, to understand the background of these other civilisations.
We want youngsters to see how others are proud of their history and traditions, so they become even more proud of their own heritage. You can’t really appreciate your own culture until you also understand others’. Every culture is rich.
The daily international folk art parade at 7.30pm, where all the performers come together, is symbolic as it sends the message that we all live peacefully here and celebrate all our cultures.
With the Louvre and the Guggenheim coming to Abu Dhabi, it is becoming a cultural capital of the world as well as a capital made up of the cultures of the world.
We want to make foreigners feel part of the community. I had very mixed feelings recently when a couple of my friends sent me video clips of other nationalities singing in Arabic and raising the UAE flag. People in other parts of the world go on to become a citizen of that country, whereas the UAE has its own formula – yet our foreign residents are still very patriotic.
When I walk around the festival today, I see so many nationalities visiting. That’s a vision we as the UAE want to pursue further, and it’s a good example for other countries to follow.
The UAE has always been a beacon of hope to the region and the world. Nothing is impossible: the leadership has always taught us that.
If you go back and read the newspapers of 45 years ago, a lot of people at the time doubted that a union of seven states would happen.
Today, it’s much bigger than that – it’s a union of the world and the UAE. Today, we have a Minister of State for Tolerance. That sends out a big message.
Nasser Al Hamli is a member of the organising committee and head of the media committee for the Sheikh Zayed Heritage Festival, which runs until January 1 in Al Wathba.
If you have a good story to tell or an interesting issue to debate, contact Amanda Tomlinson at atomlinson@thenational.ae
Yemen's Bahais and the charges they often face
The Baha'i faith was made known in Yemen in the 19th century, first introduced by an Iranian man named Ali Muhammad Al Shirazi, considered the Herald of the Baha'i faith in 1844.
The Baha'i faith has had a growing number of followers in recent years despite persecution in Yemen and Iran.
Today, some 2,000 Baha'is reside in Yemen, according to Insaf.
"The 24 defendants represented by the House of Justice, which has intelligence outfits from the uS and the UK working to carry out an espionage scheme in Yemen under the guise of religion.. aimed to impant and found the Bahai sect on Yemeni soil by bringing foreign Bahais from abroad and homing them in Yemen," the charge sheet said.
Baha'Ullah, the founder of the Bahai faith, was exiled by the Ottoman Empire in 1868 from Iran to what is now Israel. Now, the Bahai faith's highest governing body, known as the Universal House of Justice, is based in the Israeli city of Haifa, which the Bahais turn towards during prayer.
The Houthis cite this as collective "evidence" of Bahai "links" to Israel - which the Houthis consider their enemy.
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Date started: May 2018
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Sector: Additive manufacturing (aka, 3D printing)
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Engine: 2-litre turbocharged
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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.”
ACL Elite (West) - fixtures
Monday, Sept 30
Al Sadd v Esteghlal (8pm)
Persepolis v Pakhtakor (8pm)
Al Wasl v Al Ahli (8pm)
Al Nassr v Al Rayyan (10pm)
Tuesday, Oct 1
Al Hilal v Al Shorta (10pm)
Al Gharafa v Al Ain (10pm)
Sholto Byrnes on Myanmar politics
Three trading apps to try
Sharad Nair recommends three investment apps for UAE residents:
- For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
- If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
- Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
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Common OCD symptoms and how they manifest
Checking: the obsession or thoughts focus on some harm coming from things not being as they should, which usually centre around the theme of safety. For example, the obsession is “the building will burn down”, therefore the compulsion is checking that the oven is switched off.
Contamination: the obsession is focused on the presence of germs, dirt or harmful bacteria and how this will impact the person and/or their loved ones. For example, the obsession is “the floor is dirty; me and my family will get sick and die”, the compulsion is repetitive cleaning.
Orderliness: the obsession is a fear of sitting with uncomfortable feelings, or to prevent harm coming to oneself or others. Objectively there appears to be no logical link between the obsession and compulsion. For example,” I won’t feel right if the jars aren’t lined up” or “harm will come to my family if I don’t line up all the jars”, so the compulsion is therefore lining up the jars.
Intrusive thoughts: the intrusive thought is usually highly distressing and repetitive. Common examples may include thoughts of perpetrating violence towards others, harming others, or questions over one’s character or deeds, usually in conflict with the person’s true values. An example would be: “I think I might hurt my family”, which in turn leads to the compulsion of avoiding social gatherings.
Hoarding: the intrusive thought is the overvaluing of objects or possessions, while the compulsion is stashing or hoarding these items and refusing to let them go. For example, “this newspaper may come in useful one day”, therefore, the compulsion is hoarding newspapers instead of discarding them the next day.
Source: Dr Robert Chandler, clinical psychologist at Lighthouse Arabia