Donald Trump paraphernalia is displayed on the floor at the New York Stock Exchange. AP
Donald Trump paraphernalia is displayed on the floor at the New York Stock Exchange. AP
Donald Trump paraphernalia is displayed on the floor at the New York Stock Exchange. AP
Donald Trump paraphernalia is displayed on the floor at the New York Stock Exchange. AP


Donald Trump isn't the only unpredictable force the world is facing in 2025


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  • Arabic

January 05, 2025

When it comes to forecasting, there always remains the element of the unforeseen and the surprising. Yet it is possible to make predictions for the new year based on the events that unfolded in the previous year.

This can also be done by drawing on political indicators and the profiles of global leaders, supported by insights from experts across various fields and regions.

It, therefore, makes sense to begin with the impact the inauguration of US president-elect Donald Trump could have on his country’s future and that of the rest of the world.

Mr Trump will bring back with him his mercurial personality, unconventional ideas, boldness to experiment with new approaches, occasional inconsistency in decision-making, and at times a fierce insistence on his views.

Mr Trump is likely to start by imposing more than 25 tariffs on goods from Canada and Mexico, potentially sparking a trade war. Most significantly, a US-China trade war is expected to follow, shaking the global economy. A proposed tariff on EU goods could also lead to an economic crisis in Europe, which would have significant repercussions for the Middle East’s economies given their exposure to global markets.

The forced deportation of about 11 million undocumented immigrants in the US, which Mr Trump has promised, is expected to spark social unrest.

Trump’s bid to mediate between Russia and Ukraine is likely to fail

Meanwhile, recent developments in the US will have raised concerns regarding terrorism linked to groups such as Al Qaeda and ISIS, as well as the possibility of terrorism fuelled by white nationalism.

These issues highlight the deep social, political, intellectual and ideological divisions within the country. The problem is Mr Trump’s divisive personality exacerbates these fractures, as does the entrenched polarisation between the Republican and Democratic parties. Such polarisation undermines any hope of reconciliation.

In Europe, Germany’s general elections at the end of February will influence not only the country’s internal stability but also that of Europe. The identity of the new German chancellor will have a significant impact on reshaping the EU, with consequences for priorities such as the war in Ukraine and relations with Russia.

The conflict between the US and Russia carries potentially global repercussions, especially if it escalates.

A Russian expert I spoke to suggested to me that Moscow will never accept Mr Trump’s expected proposal to “freeze” the war while the US and Nato continue to arm Ukraine. Nor will it agree to merely “postpone” Ukraine’s Nato membership or to the introduction of international peacekeeping forces into Ukraine. For the Russian leadership, such measures would entrench the current government in Ukraine.

If this is true, then Mr Trump’s bid to mediate between Russia and Ukraine is likely to fail. Indeed, Russian Foreign Minister Sergey Lavrov has already laid the groundwork for rejecting Mr Trump’s proposals.

This increases the risk of direct conflict between Russia and Nato, particularly in the Baltic region.

Servicemen of Ukraine's National Guard fire a howitzer towards Russian troops at a position in a front line, amid Russia's attack on Ukraine, in Kharkiv region earlier in the week. Reuters
Servicemen of Ukraine's National Guard fire a howitzer towards Russian troops at a position in a front line, amid Russia's attack on Ukraine, in Kharkiv region earlier in the week. Reuters

This brings us to the Middle East, a region that raises the following question: is stability achievable?

It is known that Israel today is in its safest position in the regional balance of power, despite its internal turmoil. Its exceptional positioning is the result of American contributions to its regional achievements and a military partnership that has dismantled Iran’s capabilities and severely degraded Hezbollah.

It is true that Israel took risks. But it was the US that provided the weapons, intelligence and financial resources. Israel boasted, but without help from the administration of US President Joe Biden, it could not have achieved what it did. The US essentially delegated the task of cutting Iran to size to Israel without directly intervening in the conflict, thus achieving a strategic triumph for itself.

This has left the future of Syria and Lebanon, two countries where Iran had an outsized influence, uncertain.

For Syria, it is important to hold elections as soon as possible for the establishment of a legitimate government. The head of the interim administration, Ahmad Al Shara, needs to revise his statement about the new constitution taking three years to draft and elections occurring after four years, which would be catastrophic for the country as its people seek to turn the page.

In Lebanon, meanwhile, the expectations are that a parliamentary session will be held on January 9 to elect a president. The new leader will then need to appoint a full-time prime minister and a fully functional government.

  • Jordan's Foreign Minister Ayman Safadi meets Syria's de facto leader Ahmad Al Shara in Damascus. Photo: Jordanian Foreign Ministry
    Jordan's Foreign Minister Ayman Safadi meets Syria's de facto leader Ahmad Al Shara in Damascus. Photo: Jordanian Foreign Ministry
  • The two men held extensive talks in the Syrian capital. Photo: Jordanian Foreign Ministry
    The two men held extensive talks in the Syrian capital. Photo: Jordanian Foreign Ministry
  • Mr Safadi, left, seen shaking hands with Mr Al Shara, is expected to meet other key Syrian officials during the visit. AFP
    Mr Safadi, left, seen shaking hands with Mr Al Shara, is expected to meet other key Syrian officials during the visit. AFP
  • Lebanese Druze leader Walid Jumblatt, with his son Taymur looking on, is received by Mr Al Shara in Damascus. Reuters
    Lebanese Druze leader Walid Jumblatt, with his son Taymur looking on, is received by Mr Al Shara in Damascus. Reuters
  • Walid and Taymur Jumblatt in talks with Mr Al Shara, Syria’s interim prime minister Mohammed Al Bashir and Druze leaders in Damascus. AFP
    Walid and Taymur Jumblatt in talks with Mr Al Shara, Syria’s interim prime minister Mohammed Al Bashir and Druze leaders in Damascus. AFP
  • Walid Jumblatt is the first Lebanese leader to meet Mr Al Shara since his Hayat Tahrir Al Sham group and allied rebel factions launched a lightning offensive, seizing Damascus and ousting long-time Syrian president Bashar Al Assad. AFP
    Walid Jumblatt is the first Lebanese leader to meet Mr Al Shara since his Hayat Tahrir Al Sham group and allied rebel factions launched a lightning offensive, seizing Damascus and ousting long-time Syrian president Bashar Al Assad. AFP
  • Taymur Jumblatt, Walid Jumblatt and Mr Al Bashir. AFP
    Taymur Jumblatt, Walid Jumblatt and Mr Al Bashir. AFP
  • Mr Al Bashir with Walid Jumblatt. AFP
    Mr Al Bashir with Walid Jumblatt. AFP
  • Taymur Jumblatt with officials in Damascus. Reuters
    Taymur Jumblatt with officials in Damascus. Reuters
  • Turkish Foreign Minister Hakan Fidan meets Mr Al Shara in Damascus. Reuters
    Turkish Foreign Minister Hakan Fidan meets Mr Al Shara in Damascus. Reuters
  • Mr Fidan, left, with Mr Al Shara during their meeting. Mr Fidan is the first foreign minister to visit Damascus since president Bashar Al Assad's overthrow two weeks ago. Reuters
    Mr Fidan, left, with Mr Al Shara during their meeting. Mr Fidan is the first foreign minister to visit Damascus since president Bashar Al Assad's overthrow two weeks ago. Reuters
  • Mr Fidan and Mr Al Shara held talks on Sunday during which they vowed to strengthen bilateral ties. EPA
    Mr Fidan and Mr Al Shara held talks on Sunday during which they vowed to strengthen bilateral ties. EPA
  • Mr Fidan, left, and Mr Al Shara attend a press conference after their meeting. EPA
    Mr Fidan, left, and Mr Al Shara attend a press conference after their meeting. EPA
  • Hayat Tahrir Al Sham leader Mr Al Shara at a press conference after meeting Mr Fidan in Damascus, Syria. EPA
    Hayat Tahrir Al Sham leader Mr Al Shara at a press conference after meeting Mr Fidan in Damascus, Syria. EPA
  • Mr Fidan at a press conference after a meeting Mr Al Sharaa in Damascus, Syria. EPA
    Mr Fidan at a press conference after a meeting Mr Al Sharaa in Damascus, Syria. EPA

More than anything else, what needs to flow from these changes is a fundamental reset – one that includes reforms in mindset, reasoning and performance in the governance structure, away from corruption, gender discrimination and the sectarian calculations that have long plagued Lebanese politics.

In any case the consequences for the Levant are already profound.

Turkey’s rapprochement with its fellow Nato members is notable in light of what it considers to be its achievements in Syria, including gradually pushing Russia out of its Mediterranean bases and marginalising Iran in the country. What Washington needs from Ankara now – especially under Mr Trump – is to assume some responsibility for stability in Syria and fulfil its commitments to prevent the resurgence of ISIS, in exchange for Washington limiting its own influence in the country’s north-east.

Turkish influence in Syria will undoubtedly contribute to the reshaping of the Middle East and will profoundly affect regional power balances. Iran’s regional decline will continue, and Mr Trump may decide to strike its nuclear facilities if Tehran continues to manoeuvre and refuses the new administration’s offers of rewards in exchange for major concessions, including curbing its nuclear ambitions and abandoning its expansionist doctrine.

All of this is to say that the beginning of Mr Trump’s second term will coincide with a period of global anxiety and anticipation.

The%20BaaS%20ecosystem
%3Cp%3EThe%20BaaS%20value%20chain%20consists%20of%20four%20key%20players%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConsumers%3A%3C%2Fstrong%3E%20End-users%20of%20the%20financial%20product%20delivered%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDistributors%3A%3C%2Fstrong%3E%20Also%20known%20as%20embedders%2C%20these%20are%20the%20firms%20that%20embed%20baking%20services%20directly%20into%20their%20existing%20customer%20journeys%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EEnablers%3A%3C%2Fstrong%3E%20Usually%20Big%20Tech%20or%20FinTech%20companies%20that%20help%20embed%20financial%20services%20into%20third-party%20platforms%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EProviders%3A%3C%2Fstrong%3E%20Financial%20institutions%20holding%20a%20banking%20licence%20and%20offering%20regulated%20products%3C%2Fp%3E%0A
MEYDAN%20RACECARD
%3Cp%3E%3Cstrong%3E6pm%20%3C%2Fstrong%3EArabian%20Adventures%20%E2%80%93%20Maiden%20(TB)%20Dh82%2C500%20(Dirt)%201%2C200m%0D%3Cbr%3E%3Cstrong%3E6.35pm%20%3C%2Fstrong%3EEmirates%20Sky%20Cargo%20%E2%80%93%20Handicap%20(TB)%2087%2C500%20(D)%202%2C000m%0D%3Cbr%3E%3Cstrong%3E7.10pm%20%3C%2Fstrong%3EEmirates%20Holiday%20%E2%80%93%20Maiden%20(TB)%20Dh82%2C500%20(D)%201%2C400m%0D%3Cbr%3E%3Cstrong%3E7.45pm%20%3C%2Fstrong%3EEmirates%20Skywards%20%E2%80%93%20Handicap%20(TB)%20Dh87%2C500%20(D)%201%2C400m%0D%3Cbr%3E%3Cstrong%3E8.20pm%3C%2Fstrong%3E%20Emirates%20Airline%20%E2%80%93%20Handicap%20(TB)%20Dh105%2C000%20(D)%201%2C600m%0D%3Cbr%3E%3Cstrong%3E8.55pm%20%3C%2Fstrong%3EEmirates%20Airline%20%E2%80%93%20Handicap%20(TB)%20Dh105%2C000%20(D)%201%2C900m%0D%3Cbr%3E%3Cstrong%3E9.30pm%20%3C%2Fstrong%3EEmirates.com%20%E2%80%93%20Handicap%20(TB_%20Dh87%2C500%20(D)%201%2C200m%3C%2Fp%3E%0A

The Vines - In Miracle Land
Two stars

THE%C2%A0SPECS
%3Cp%3EEngine%3A%204-cylinder%202.5-litre%20%2F%202-litre%20turbo%0D%3Cbr%3EPower%3A%20188hp%20%2F%20248hp%0D%3Cbr%3ETorque%3A%20244Nm%20%2F%20370Nm%0D%3Cbr%3ETransmission%3A%207-speed%20auto%0D%3Cbr%3EOn%20sale%3A%20now%0D%3Cbr%3EPrice%3A%20From%20Dh110%2C000%0D%3C%2Fp%3E%0A
Past winners of the Abu Dhabi Grand Prix

2016 Lewis Hamilton (Mercedes-GP)

2015 Nico Rosberg (Mercedes-GP)

2014 Lewis Hamilton (Mercedes-GP)

2013 Sebastian Vettel (Red Bull Racing)

2012 Kimi Raikkonen (Lotus)

2011 Lewis Hamilton (McLaren)

2010 Sebastian Vettel (Red Bull Racing)

2009 Sebastian Vettel (Red Bull Racing)

 

Profile of Bitex UAE

Date of launch: November 2018

Founder: Monark Modi

Based: Business Bay, Dubai

Sector: Financial services

Size: Eight employees

Investors: Self-funded to date with $1m of personal savings

UAE rugby season

FIXTURES

West Asia Premiership

Dubai Hurricanes v Dubai Knights Eagles

Dubai Tigers v Bahrain

Jebel Ali Dragons v Abu Dhabi Harlequins

UAE Division 1

Dubai Sharks v Dubai Hurricanes II

Al Ain Amblers v Dubai Knights Eagles II

Dubai Tigers II v Abu Dhabi Saracens

Jebel Ali Dragons II v Abu Dhabi Harlequins II

Sharjah Wanderers v Dubai Exiles II

 

LAST SEASON

West Asia Premiership

Winners – Bahrain

Runners-up – Dubai Exiles

UAE Premiership

Winners – Abu Dhabi Harlequins

Runners-up – Jebel Ali Dragons

Dubai Rugby Sevens

Winners – Dubai Hurricanes

Runners-up – Abu Dhabi Harlequins

UAE Conference

Winners – Dubai Tigers

Runners-up – Al Ain Amblers

The%20specs
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The Voice of Hind Rajab

Starring: Saja Kilani, Clara Khoury, Motaz Malhees

Director: Kaouther Ben Hania

Rating: 4/5

MATCH INFO

Who: UAE v USA
What: first T20 international
When: Friday, 2pm
Where: ICC Academy in Dubai

Western Region Asia Cup T20 Qualifier

Sun Feb 23 – Thu Feb 27, Al Amerat, Oman

The two finalists advance to the Asia qualifier in Malaysia in August

 

Group A

Bahrain, Maldives, Oman, Qatar

Group B

UAE, Iran, Kuwait, Saudi Arabia

 

UAE group fixtures

Sunday Feb 23, 9.30am, v Iran

Monday Feb 25, 1pm, v Kuwait

Tuesday Feb 26, 9.30am, v Saudi

 

UAE squad

Ahmed Raza, Rohan Mustafa, Alishan Sharafu, Ansh Tandon, Vriitya Aravind, Junaid Siddique, Waheed Ahmed, Karthik Meiyappan, Basil Hameed, Mohammed Usman, Mohammed Ayaz, Zahoor Khan, Chirag Suri, Sultan Ahmed

HWJN
%3Cp%3EDirector%3A%20Yasir%20Alyasiri%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Baraa%20Alem%2C%20Nour%20Alkhadra%2C%20Alanoud%20Saud%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A%3Cp%3E%3C%2Fp%3E%0A
Call of Duty: Black Ops 6

Developer: Treyarch, Raven Software
Publisher:  Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
Rating: 3.5/5

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
GRAN%20TURISMO
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Neill%20Blomkamp%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20David%20Harbour%2C%20Orlando%20Bloom%2C%20Archie%20Madekwe%2C%20Darren%20Barnet%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A

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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How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

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."

Tributes from the UAE's personal finance community

• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style

“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.

Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term. 

From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”

• Sam Instone, director of financial advisory firm AES International

"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed.  Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."

• Demos Kyprianou, a board member of SimplyFI.org

"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."

• Steve Cronin, founder of DeadSimpleSaving.com

"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.

His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.

Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."

• Zach Holz, who blogs about financial independence at The Happiest Teacher

"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen.  He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”

• Tuan Phan, a board member of SimplyFI.org

"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."

Updated: January 06, 2025, 2:20 PM