Has International Women’s Day become an outdated concept?
Has International Women’s Day become an outdated concept?
Has International Women’s Day become an outdated concept?
Has International Women’s Day become an outdated concept?

A women’s day in 2020 only helps maintain status quo on equality


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A day to celebrate environmental protection and sustainability? Absolutely on board. A designated day to commemorate those who are blind, deaf or dealing with mental illness? Let's have it. I'm even partial to a whole 24 hours dedicated to pizza.

But one to publicly champion a sex that makes up almost half of the population via trope-riddled marketing? Down with your pink drinks and spa deals.

Wake up and smell the equality, guys – it's 2020 and by giving us one single day where we are permitted to celebrate all things feminine, are we not, by proxy, giving the other 364 days of the year to the men? Do we really need another reason to acknowledge the existence of the patriarchy? And worse still, does that day have to be marked with condescending discounts and blush-pink-themed PR stunts?

Surely our forebears – the suffragettes and the manual labourers toiling awaywouldn't have approved of their legacy of florist coupons and themed chocolates.

By its very nature, this was a day that once stood for the fight for equal rights and against unfair working conditions for women. It was a day to champion an oppressed community. A public call to arms for women, and men, to ensure that the imbalance would be redressed.

And so it did. Women's rights have come a long way since the early 1900s.

That was, perhaps, the earliest incarnation of the International Women’s Day, now celebrated around the world on March 8. It was 1909, and the Socialist Party of America had decided to crown National Woman’s Day as an opportunity to honour a strike by garment workers in New York the year before, where women protested against harsh working conditions.

This was followed by a huge protest and strike by women in Russia in 1917, which began the woman's suffrage movement in the country. That protest fell on March 8. (Granted, advancements in women's rights had already leapt ahead elsewhere, such as New Zealand, which had already granted women the right to vote 25 years earlier. Yes, I'm a smug Kiwi.)

That date stuck six decades later, when it became a global marker of female empowerment, and the United Nations celebrated its first official International Women's Day on March 8, 1975, a year that was known as International Women's Year. Two years later, it passed a resolution to proclaim that member states should have their own UN Day for Women's Rights and International Peace. And so, at its core, the notion of the day was grounded in good intentions. It was a collaborative effort to ensure the female voice was heard at a time when misogyny was commonplace. But somewhere along the line, it lost its way. We forgot to adapt International Women's Day to the 21st century. And a marketing executive decided it would be the perfect opportunity to tout a cheap spa day, or a flower coupon or a dinner deal. And that idea caught on. I'll go out on a limb here and assume the UN isn't thrilled that its celebration has been hijacked by condescending tag lines and fluorescent drinks to make a quick buck.

In essence, International Women's Day has become an outdated concept that has been commandeered by the PR industry. And condensing the achievements of an entire sex down to a 24-hour block is really undermining what we are now capable of.

In essence, International Women's Day has become an outdated concept that has been commandeered by the PR industry. 

But don't get me wrong, nobody is arguing that the equality fight is over, so the day isn't entirely a moot point. The harsh reality of a world in which women are not afforded the same rights and opportunities as men still very much exists – in the wage gap, in countries where women are oppressed, in that reality star Donald Trump became president before a woman did, to name but a few. But can't we work towards a future where we publicly champion the stories of women every day, instead of making a concerted effort to do so on only one day a year? Why should this need to be a concerted effort? After all, according to the UN's own guidelines, "International Women's Day is an occasion to celebrate the progress made towards achieving gender equality and women's empowerment but also to critically reflect on those accomplishments and strive for a greater momentum towards gender equality worldwide."

In short: going for a cheap massage is not closing the wage gap any more than purchasing a three-course dinner is educating underprivileged girls in an underdeveloped country.

So, what's the solution? Well, falling short of actually achieving equality, perhaps the simple answer is to abolish International Women's Day altogether. How about letting all that female empowerment escape the shackles of its 24-hour time limit and permeate everyday life?

Or perhaps instead, in 2020, we all join forces and make a concentrated effort to ensure the voices of men are properly heard on International Men’s Day, on November 19. Why, dear readers, are we not more aware that this day exists? Surely because it is simply the status quo, rather than the lack of free blue cocktails and golf discounts.

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Tips to avoid getting scammed

1) Beware of cheques presented late on Thursday

2) Visit an RTA centre to change registration only after receiving payment

3) Be aware of people asking to test drive the car alone

4) Try not to close the sale at night

5) Don't be rushed into a sale 

6) Call 901 if you see any suspicious behaviour

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

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.”

Meydan race card

6pm Dubai Trophy – Conditions(TB) $100,000 (Turf) 1,200m 

6.35Dubai Trophy – Conditions(TB) $100,000 (Turf) 1,200m
1,800m 

7.10pm Jumeirah Derby Trial – Conditions (TB) $60,000 (T)
1,800m ,400m 

7.45pm Al Rashidiya – Group 2 (TB)  $180,000  (T) 1,800m 

8.20pm Al Fahidi Fort – Group 2 (TB) $180,000 (T) 1,400m 

8.55pm Dubawi Stakes – Group 3 (TB) $150,000 (D) 1,200m 

9.30pm Aliyah – Rated Conditions (TB) $80,000 (D) 2,000m  

The specs: 2019 Haval H6

Price, base: Dh69,900

Engine: 2.0-litre turbocharged four-cylinder

Transmission: Seven-speed automatic

Power: 197hp @ 5,500rpm

Torque: 315Nm @ 2,000rpm

Fuel economy, combined: 7.0L / 100km

Manchester United v Liverpool

Premier League, kick off 7.30pm (UAE)

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Uefa Nations League: How it Works

The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.

The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.

Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.

Children who witnessed blood bath want to help others

Aged just 11, Khulood Al Najjar’s daughter, Nora, bravely attempted to fight off Philip Spence. Her finger was injured when she put her hand in between the claw hammer and her mother’s head.

As a vital witness, she was forced to relive the ordeal by police who needed to identify the attacker and ensure he was found guilty.

Now aged 16, Nora has decided she wants to dedicate her career to helping other victims of crime.

“It was very horrible for her. She saw her mum, dying, just next to her eyes. But now she just wants to go forward,” said Khulood, speaking about how her eldest daughter was dealing with the trauma of the incident five years ago. “She is saying, 'mama, I want to be a lawyer, I want to help people achieve justice'.”

Khulood’s youngest daughter, Fatima, was seven at the time of the attack and attempted to help paramedics responding to the incident.

“Now she wants to be a maxillofacial doctor,” Khulood said. “She said to me ‘it is because a maxillofacial doctor returned your face, mama’. Now she wants to help people see themselves in the mirror again.”

Khulood’s son, Saeed, was nine in 2014 and slept through the attack. While he did not witness the trauma, this made it more difficult for him to understand what had happened. He has ambitions to become an engineer.

What should do investors do now?

What does the S&P 500's new all-time high mean for the average investor? 

Should I be euphoric?

No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.

So what happened?

It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.

"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."

Should I buy? Should I sell?

Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.

"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.

All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.

Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.

Will the rally last?

No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.

"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."

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SWEET%20TOOTH
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Company%20profile
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Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young