Two students from Saudi Arabia are among the global winners in Apple’s developer programme, highlighting the region's potential in the growing technology segment.
Jawaher Shaman, the creator of the My Child app that assists people with speech conditions, is among the top three “distinguished winners” of the Swift Student Challenge, joining Elena Galluzzo from Canada and US-based Dezmond Blair.
A total of 50 distinguished winners were chosen, from a pool of 350 winning submissions, and they have been invited to attend Apple's annual Worldwide Developer Conference, which runs from June 10 to 14 at its headquarters in California.
Ms Shaman's app was inspired by her struggle with stuttering, which she developed at age five and became debilitating.
“Coding for me opened up a world of possibilities … I hope to use technology to help children who are neurodivergent because I know what it’s like to feel different,” said Ms Shaman, who plans to work as a programmer in Saudi Arabia.
The other Saudi winner, Afrah bin Jubayr, developed Fin's Adventure, an app focused on saving the environment.
Her “coding skills in hand” led to create “a meaningful game to raise awareness”, she told The National.
Ms Shaman and Ms Bin Jubayr, both 27 and from Riyadh, are enrolled at the Apple Developer Academy in the Saudi capital, which was opened in 2022 – the first in the Middle East and North Africa, and which focuses on female developers.
They also follow in the footsteps of Sabrina Sales, a Filipino based in Abu Dhabi who has twice won Apple's programme.
The 2024 winners “once again demonstrate the breadth and depth of what is possible when talented young people use coding to make their mark on the world”, Susan Prescott, vice president of worldwide developer relations at Apple, said.
The global app market continues to grow, and app marketplaces have rolled out several initiatives to attract coders to help expand their digital offerings.
Apple opened its first developer academy in Brazil in 2013, and the company now has 18 around the world, the latest of which opened in Bali, Indonesia, last month.
The iPhone-maker is confident that its student developer programme will continue to hone more talent in the Middle East and contribute to the growth of start-ups and entrepreneurship, Lisa Jackson, Apple’s vice president for environment, policy and social initiatives, said during her visit to Dubai in 2023.
Apple does not provide region-specific figures for its academies, but globally, these institutions have helped students to create more than 1,500 apps and establish more than 160 companies, according to the company's latest data.
Governments in the region, led by the UAE and Saudi Arabia, are also recognising its importance.
Dubai, for instance, launched the One Million Arab Coders initiative in 2017 and a challenge programme in 2021, seeking the best talent among the youth’s ranks and equipping them with the skills needed for the future.
“The vitality of the region in general and everything going on [within the developer community] is impressive,” Ms Jackson had told The National.
The Apple App Store is part of its strong services segment. The company on Thursday reported that total revenue from its services division in its fiscal first quarter grew about 14 per cent annually to almost $23.9 billion, which was a record.
Apple also announced its largest share buyback programme, worth $110 billion, after reporting an annual drop in its March quarter net profit and revenue.
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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.”
Low turnout
Two months before the first round on April 10, the appetite of voters for the election is low.
Mathieu Gallard, account manager with Ipsos, which conducted the most recent poll, said current forecasts suggested only two-thirds were "very likely" to vote in the first round, compared with a 78 per cent turnout in the 2017 presidential elections.
"It depends on how interesting the campaign is on their main concerns," he told The National. "Just now, it's hard to say who, between Macron and the candidates of the right, would be most affected by a low turnout."
