Scores of pupils in the UAE received near-perfect results in Central Board of Secondary Education exams on Monday, and will now be heading to top universities in the US, UK and the UAE.
Grade 12 results were announced on Monday, while grade 10 scores were revealed by the Central Board of Secondary Education hours later.
In 2024, the pass percentage for Grade 12 was 87.98 per cent, up from 87.33 per cent last year, with girls outperforming boys.
Out of a total of 2,305 Gems Education pupils across 10 schools, 2,303 passed, giving a pass rate of 99.91 per cent while 9.20 per cent of students scored an average of above 90 per cent.
'A stellar performance'
At Delhi Private School Dubai, all of the 199 pupils to take exams passed with an average score of 90.4 this year, up by 2 per cent compared to last year.
Rashmi Nandkeolyar, principal at Delhi Private School Dubai, said: “Our pupils and teachers have done us proud with a stellar performance.
“Our results have improved across the spectrum with 100 per cent pass and top scores in all streams.
“Many pupils have already been accepted to top universities around the world.
“Children who have special education needs have done well and the high-achieving pupils have done well.”
Anagha Ramaswamy, a 17-year-old Indian pupil at Delhi Private School Dubai, achieved an overall grade 12 score of 96.2 per cent and will head to Stanford University in autumn with grades of 100 in computer science, 100 in marketing, 95 in chemistry, 94 in mathematics and 92 in English.
“I will be attending Stanford University and will be studying computer sciences,” said Ms Ramaswamy.
“There was hard work … I did have a lot of sleepless nights and put in a lot of extra effort.
“I had to prioritise the applications as I was aiming to head to the US.
“I am the head girl at my school and had many extra-curricular activities, but I was used to this as I have always done both (academics and extra-curricular activities) since primary school.”
She said she was excited to study at Stanford University and meet a diverse group of people.
“Because of their open curriculum, I can study computer science but can also pick up another major in business,” she said.
Vivin Chrysostor, also a 17-year-old Indian pupil at Delhi Private School Dubai, achieved an average of 98.8 per cent in grade 12 CBSE exams, with 100 in chemistry and marketing, 99 in biology, 98 in English and 97 in physics and mathematics.
“Throughout the year I had this focus in mind and put in around six months of constant work,” said Mr Chrysostor.
“I want to be a doctor and I'm going to be pursuing medicine, either in Canada or the UK.
“I'm looking at the University of Toronto and Manchester University.”
Ammar Moiz Tankiwala, an 18-year-old Indian pupil, scored 78 per cent and is interested in studying marketing and commerce in Dubai.
“I was happy to see the results and the teachers also supported me very well,” said Mr Tankiwala.
At The Indian High School, Oud Metha, 70 pupils scored 100 in 13 subjects, while all pupils at the school passed their exams.
Outstanding performance
Zahabia Ali Murtaza, an Indian pupil at Gems Our Own English High School in Dubai, achieved an average of 98.8 per cent and was the highest scorer across Gems Education schools in the UAE.
She achieved a perfect scores of 100 In psychology, home science and fashion studies.
“I'm planning to pursue a bachelor's degree in education and special education,” said Ms Murtaza, who aims to study at UAE University.
“I studied psychology in school and that’s where I learnt about children and how they need special educational methods for them.”
Thomas Mathew, executive principal at Gems Our Own English High School – Dubai, said: “Our students have done us proud once again.”
The school's average score is 87 per cent, with 37 per cent of pupils securing more than 90 per cent.
K George Mathew, principal at Gems United Indian School – Abu Dhabi, said: “We are absolutely thrilled to announce the outstanding performance of our school in the CBSE Board examinations.
“It's a moment of immense pride and joy for all of us at Gems Education UIS as our students have demonstrated exceptional dedication, perseverance, and academic excellence.”
Ameena Rosh, a pupil at Gems United Indian School, scored 97.2 per cent and will study accountancy in Dubai.
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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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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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The biog
Birthday: February 22, 1956
Born: Madahha near Chittagong, Bangladesh
Arrived in UAE: 1978
Exercise: At least one hour a day on the Corniche, from 5.30-6am and 7pm to 8pm.
Favourite place in Abu Dhabi? “Everywhere. Wherever you go, you can relax.”
