When the first pupils started at Sharjah English School in 1974, they had to stop work and cover their ears every time a plane landed. The handful of pupils were taught next to the runway of what was the modern UAE’s first airport.
Al Mahatta Fort, built in the 1930s to house overnight passengers travelling on Imperial Airways, was their first classroom. From those freewheeling years, Sharjah English School has soared to its current campus that accommodates more than 1,000 pupils and about 150 staff.
“I've described this school as a sort of a jewel in the desert that's covered with sand,” principal Darren Coulson told The National. “It doesn't have a high profile and I don't necessarily think it wants a high profile.“
“It is quite confident in itself and is quite a community-based school. I'm really proud that I'm here and we're celebrating the history of 50 years,” added Mr Coulson, who is from the UK and has worked in the region since the 1990s.
Unlocking memories
Sharjah English School marked its half century on Wednesday with events including the opening of a time capsule that was buried by pupils in 1999.
It was an era when cassettes, VHS tapes and Nokia mobile phones ruled supreme. All three came out of the capsule along with other items revealed by the school's head of primary, Shiobhain Brady, such as a digital watch, a local print newspaper, photos, physical money and work by previous pupils.
“It is quite emotional,” said Mr Coulson, about the opening of the capsule. “I had a tear in my eye. I'm really proud that the school is still here and thriving in quite a competitive world in the UAE, in terms of schools.”
Sharjah English Speaking School, as it was previously known, was founded in 1974 by two British bankers, David Eldon and David Bedford. Before this, children had to travel to Dubai.
The school initially operated from those temporary rooms in Al Mahatta Fort run by the first headmistress, Marie Gladstone. Ms Gladstone turned 100 this year and is back in the UK. Al Mahatta later became an RAF base and airport. Today it serves as an aviation museum.
How the school has changed
On Wednesday, pupils watched a presentation on the school's history and heard an interview with long-serving staff at the school. Afsar Khan, the operations assistant, joined the school in the mid-1970s, while Sharanjit Singh, site supervisor, joined in 2000. They have had front-row seats on changing and often challenging times.
Mr Khan, from Pakistan, remembers when camels used to wander into the grounds and help themselves to the foliage of ghaf trees. “There were so many stories,” he said. “I loved being part of the school and I grew old with it. There are no regrets,” Mr Singh, from India, said. “It has been 25 years. I'm always happy at the school.”
The need for more space and places for pupils meant the school moved several times. In 1975 it relocated to the Dasman area of Sharjah on land granted by Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah. Sports teams were also created, which led to Sharjah Wanderers sports club.
The school shifted to Samnan in 1978. A year later pupils travelled to Dubai in a double-decker bus to see Queen Elizabeth II, who was on her visit to the UAE.
It moved to its campus near University City of Sharjah in 2005, which has allowed it to provide primary and secondary education to its pupils.
To mark 50 years, the non-profit school has planted 50 trees, and will host a gala dinner at the end of the year to celebrate its rich history.
It is a long journey from the fort to the British curriculum, multicultural school consistently ranked as “outstanding” by the British School Overseas.
“We are hoping that in 50 years people will look back again and do a very similar event,” said Mr Coulson. “To survive for 50 years … is a heck of a thing.”
Travel through history: Book takes 130,000-year journey through the UAE’s past
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Brief scores:
Manchester City 3
Aguero 1', 44', 61'
Arsenal 1
Koscielny 11'
Man of the match: Sergio Aguero (Manchester City)
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What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
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Empty Words
By Mario Levrero
(Coffee House Press)
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199
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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Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
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THE DETAILS
Director: Milan Jhaveri
Producer: Emmay Entertainment and T-Series
Cast: John Abraham, Manoj Bajpayee
Rating: 2/5