Teachers at a school in Dubai have got their students into the habit of singing the UAE national anthem every day while they are learning at home.
Children who attend Kings' School Nad Al Sheba, which closed its doors along with the rest of the country's educational facilities in early March amid the coronavirus crisis, have shared videos of themselves singing the Emirati anthem, Ishy Bilady.
The school has used the footage to create a touching tribute to the UAE, which Kings' Education has shared on its Instagram account.
"The UAE national anthem is sung with pride, energy and enthusiasm every day in school, and has also been a priority for the school since day one of online learning at home," says Kerry Dalton, principal of Kings' School Nad Al Sheba.
"In appreciation, gratitude and utmost respect for all that our national communities are doing to protect and keep our loved ones and families safe, we felt that the words of the national anthem encompass all that we are doing to work together."
Students from Foundation Stage and upwards, aged 3 to 11, were set the task of recording themselves singing the national anthem, as they usually do in school.
Kings' Education then used clips from more than 100 students to compile a video of gratitude to the community's unsung heroes, from healthcare workers to supermarket attendants and delivery drivers.
"In sharing the video with families in this way, we have been able to strengthen and unify our whole school community, regardless of the distance," Dalton says.
Schools across the UAE were asked to close from Sunday, March 8, as part of national disinfection programme, which is still ongoing, to help stem the spread of Covid-19. The Ministry of Education has announced that all educational facilities will remain closed until the end of this academic year.
Teachers in the UAE and across the world have been using distance learning platforms in order to continue with the school curriculums.
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A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
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- Individuals must register on UAE Drone app or website using their UAE Pass
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- Upload the training certificate from a centre accredited by the GCAA
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Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons
West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins
UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles
West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles
West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles
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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.”
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