Yesterday was International Women’s Day, a day that since 1911 has celebrated the social, political and economic achievements of women while also focusing the world on areas that still require action.
The day is marked all over the world, and there were a host of events held for it in the UAE.
The theme of this year’s holiday was Inspiring Change, a broad theme that encourages the support for women’s advancement in every possible way. It certainly got me thinking.
What am I inspired to change for women, particularly for those I work with day to day in the Middle East? At Hill+Knowlton Strategies we employ about 65 women across our eight offices in the region. And for me, I’m inspired to bring more flexibility to the workplace for my many working mothers.
I am now 25 years into my own career. I have worked in many interesting and wonderful parts of the world, including the United Kingdom, Russia, Poland, Croatia, Slovakia and Turkey, and the past five years of it have been here. My job is interesting, varied, dynamic, full of challenges and opportunities and extremely rewarding, and I greatly enjoy the markets of the Middle East, Turkey and Africa that I oversee for the agency.
I feel incredibly fortunate to have a job from which I get enormous enjoyment and a career that has continued to progress and thrive, while also having a family. But I certainly couldn’t have got to this point without an element of flexibility from my employer and lot of help from my husband. And even with this, it all still remains a busy juggling act.
I therefore fully appreciate that keeping a fruitful and rewarding career going while managing the daily tasks and responsibilities of raising a family is a temporal and logistical challenge for working mothers.
It’s definitely not easy. And because of this I am supportive of flexibility in the workplace to help my working mothers try to achieve a better quality of work-family balance. After all, I would rather find flexible ways to make life work for my best people here in the region, and hold on to them in some capacity, than lose them completely through us being too fixed and structured in our approach. I see flexible working as key to retaining talent and senior counsel in my operation.
About 25 per cent of our female employees are mothers, and we do what we can with flexible hours around school times and nursery. In some cases we’ve even found new opportunities within the agency for them, using their skills in the best way possible while still giving them plenty of time for their families. I was able to work flexible hours for a period after returning to work from maternity leave with my eldest child, so I know the difference it can make. And the benefits aren’t just one-sided – they’re for the company, too, as it retains talent.
The PR industry is known to be dominated by women, perhaps because women are naturally good communicators. Fifty five per cent of our team across the region is female, so the issue of working mothers is a significant one for us. And in this part of the world, too, where talent is always in demand, finding ways to hold on to it is ever more important.
So, wherever possible, we are doing what we can to help our working mums juggle their day-to-day lives, offering them ways to remain in the workplace and enjoy a thriving career while also ensuring they have the time and flexibility to enjoy the enriching journey of motherhood. And I feel that such a flexible approach – an approach already used in many other markets around the world – will only become more crucial as our industry evolves further in this part of the world.
This is one of the ways that I hope to make a difference for women in the Middle East. And we hope other employers are inspired by International Women’s Day to do the same.
Sconaid McGeachin is the president and chief executive of the Middle East, Africa and Turkey at Hill+Knowlton Strategies
UAE tour of the Netherlands
UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match
Specs – Taycan 4S
Engine: Electric
Transmission: 2-speed auto
Power: 571bhp
Torque: 650Nm
Price: Dh431,800
Specs – Panamera
Engine: 3-litre V6 with 100kW electric motor
Transmission: 2-speed auto
Power: 455bhp
Torque: 700Nm
Price: from Dh431,800
Day 2, stumps
Pakistan 482
Australia 30/0 (13 ov)
Australia trail by 452 runs with 10 wickets remaining in the innings
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Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
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Killing of Qassem Suleimani
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
THREE
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Tuesday results:
- Singapore bt Malaysia by 29 runs
- UAE bt Oman by 13 runs
- Hong Kong bt Nepal by 3 wickets
Final:
Thursday, UAE v Hong Kong
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.”
India squads
Test squad against Afghanistan: Rahane (c), Dhawan, Vijay, Rahul, Pujara, Karun, Saha, Ashwin, Jadeja, Kuldeep, Umesh, Shami, Pandya, Ishant, Thakur.
T20 squad against Ireland and England: Kohli (c), Dhawan, Rohit, Rahul, Raina, Pandey, Dhoni, Karthik, Chahal, Kuldeep, Sundar, Bhuvneshwar, Bumrah, Pandya, Kaul, Umesh.
ODI squad against England: Kohli (c), Dhawan, Rohit, Rahul, Shreyas, Rayudu, Dhoni, Karthik, Chahal, Kuldeep, Sundar, Bhuvneshwar, Bumrah, Pandya, Kaul, Umesh
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Second Test
In Dubai
Pakistan 418-5 (declared)
New Zealand 90 and 131-2 (follow on)
Day 3: New Zealand trail by 197 runs with 8 wickets remaining
Famous left-handers
- Marie Curie
- Jimi Hendrix
- Leonardo Di Vinci
- David Bowie
- Paul McCartney
- Albert Einstein
- Jack the Ripper
- Barack Obama
- Helen Keller
- Joan of Arc
'The Batman'
Stars:Robert Pattinson
Director:Matt Reeves
Rating: 5/5