The women’s majils: Let’s support, not destroy



When a person ventures out of their comfort zone to start chasing their dreams, they usually face hurdles. Whether physical or mental, people have to walk a rough road.

When passing those ordeals and almost getting the taste of the accomplishment they’ve been craving, they have to go through another equally troubling situation. The first thing a person faces when they almost make it is comparisons. I know because I went through this ordeal. Don’t get me wrong: it’s flattering to get compared with a successful person in your field, but you strive to make your own name and career.

It also came to my attention that when men start out in a field, they’re usually compared with a successful figure that they resemble in some way. However, women are sometimes pitted against each other in what seems like a competition.

Women are still enjoying “firsts” in the UAE. It’s quite upsetting, but it’s also exciting to witness change with our own eyes. It can’t be denied that women were limited from prospering for some time, instead of being ­encouraged.

I don’t understand why it’s not OK to have more than one woman achieving similar things. How come they’re not encouraged for trying to find their own identity in a field that includes varying talents?

Everyone deserves a chance in what they’re passionate about, but if we continue creating mindless wars in our world, people will eventually resort to not wishing others well, focusing on the actions of others instead of bettering themselves. That’s useless and no one would really benefit from it.

I believe for a change to take place, we must discuss things openly. We must get to the bottom of things and think more deeply. I know for a fact that some might consider this a feminist attack, but on the contrary, this piece is to raise awareness on a matter that not everyone is aware of.

As a writer, I had a hard time coping with people wanting me to “destroy”fellow writers just for the sake of it. Nevertheless, I choose not to let this topic faze me any more, because I appreciate people who go out of their way to pursue their ­careers and put themselves out there for the world to see.

I’m taking a stand to end this spectacle and hope others will join me. So the next time someone asks you to choose between a man or a woman doing their best to be a distinctive figure in society, don’t agree to participate in a senseless conflict. Instead, why not support both hopefuls eager to make something of ­themselves?

Alia AlHazami is a student at the American University of Sharjah and the author of the book Alatash.

If you have a good story to tell or an interesting issue to debate, contact Shireena Al Nowais on salnuwais@thenational.ae.

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Europe’s rearming plan
  • Suspend strict budget rules to allow member countries to step up defence spending
  • Create new "instrument" providing €150 billion of loans to member countries for defence investment
  • Use the existing EU budget to direct more funds towards defence-related investment
  • Engage the bloc's European Investment Bank to drop limits on lending to defence firms
  • Create a savings and investments union to help companies access capital
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Jigra
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Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

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.”

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Date started: January, 2014

Founders: Mike Dawson, Varuna Singh, and Benita Rowe

Based: Dubai

Sector: Education technology

Size: Five employees

Investment: $100,000 from the ExpoLive Innovation Grant programme in 2018 and an initial $30,000 pre-seed investment from the Turn8 Accelerator in 2014. Most of the projects are government funded.

Partners/incubators: Turn8 Accelerator; In5 Innovation Centre; Expo Live Innovation Impact Grant Programme; Dubai Future Accelerators; FHI 360; VSO and Consult and Coach for a Cause (C3)

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Dimuth Karunaratne (c), Lasith Malinga, Angelo Mathews, Thisara Perera, Kusal Perera, Dhananjaya de Silva, Kusal Mendis, Isuru Udana, Milinda Siriwardana, Avishka Fernando, Jeevan Mendis, Lahiru Thirimanne, Jeffrey Vandersay, Nuwan Pradeep, Suranga Lakmal.

So what is Spicy Chickenjoy?

Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.