The panel at the Placing Gender Parity at the Heart of the Recovery session at the virtual World Economic Forum event. Panellists included Rania Al-Mashat, minister of international cooperation of Egypt; Phumzile Mlambo-Ngcuka, unndersecretary- general and executive director at UN WOMEN, Michael Neidorff, chairman, president and chief executive at Centene, Kevin Sneader, global managing partner at McKinsey & Company, while the moderator was Mina Al-Oraibi, editor-in-chief, The National. Courtesy WEF
The panel at the Placing Gender Parity at the Heart of the Recovery session at the virtual World Economic Forum event. Panellists included Rania Al-Mashat, minister of international cooperation of Egypt; Phumzile Mlambo-Ngcuka, unndersecretary- general and executive director at UN WOMEN, Michael Neidorff, chairman, president and chief executive at Centene, Kevin Sneader, global managing partner at McKinsey & Company, while the moderator was Mina Al-Oraibi, editor-in-chief, The National. Courtesy WEF
The panel at the Placing Gender Parity at the Heart of the Recovery session at the virtual World Economic Forum event. Panellists included Rania Al-Mashat, minister of international cooperation of Egy
Women should be at the heart of the global post-pandemic recovery
With Covid-19 having disproportionately affected women, policy makers need to pay more attention to gender parity to help build a more equitable society
It will take years to fully assess the impact of Covid-19 on global health systems, societies, economies and governments. However, in a number of areas, the devastation brought about by the pandemic is already clear. In addition to the death of over 2 million people because of the novel coronavirus, and the immense loss that their families will have to contend with, there are societal ramifications that must be recognised and addressed. Around the world, women are witnessing tangible regression in the areas of hard-won progress they made over the past few years.
From bearing the larger burden of home-schooling to facing elevated levels of job losses, women have suffered throughout the past year. And the facts are evident. While women represent 39 per cent of global employment, they have accounted for 54 per cent of overall job losses during the pandemic, according to the management consulting firm McKinsey. The World Economic Forum says that many women are working a “double-double shift”, taking on at least an extra 20 hours of work each week to juggle the demands made real by Covid-19. Mothers have been spending an average of 1.7 hours more per day on housework than fathers and provide 70 per cent of child care during business hours, according to the Forum. The international organisation has been measuring gender disparity for years in its annual “Global Gender Gap” report. In its 2020 report, it predicted that the world would need 99.5 years to reach gender parity. This was before the pandemic hit.
There is no doubt that the vast majority of women find great joy and satisfaction if they can help their families. UN Women, the UN’s agency for women’s advancement, estimates that women’s unpaid contributions to health care are equal to 2.35 per cent of global GDP, or almost $1.5 trillion. And while money and percentages are a good way of measuring how significant this contribution is, no amount of remuneration can equal the love of a mother, a wife, a sister or a daughter when providing care to their families. That is provided unconditionally. However, the reality is that the long-term consequences of this care could lead to career regression, increased psychological pressure and a greater financial burden.
James Laurie, aged 8, is assisted in his online work by his mother Laurette as he continues home-schooling in London. From bearing the larger burden of home-schooling to facing elevated levels of job losses, women have suffered throughout the past year. Getty Images
Oxfam has called Covid-19 the "inequality virus", saying that the world's poor have been disproportionately affected by this pandemic. This is true for both men and women. However, given that women are more likely to be in low-paying jobs and on flexible contracts, they are more adversely impacted. In its 2020 report on employment, the International Labour Organisation said that losses in income were larger for young workers, women, the self-employed and low and medium-skilled workers.
Moreover, while the world is witnessing a digital revolution with more aspects of people’s lives moving online, a proportion of men and women are being left out as they do not have access to the internet. Women have 17 per cent less access to the internet globally. One of the reasons that women are particularly hurt is that they make up a large proportion of the informal work sector, with 760 million of them in informal employment. Informal workers experienced a 60 per cent fall in income in the first month of the pandemic and much of that income has not recovered.
In her comments during a session I moderated during this week's "Davos Agenda", Egypt's Minister of International Co-operation Rania Al-Mashat stressed the importance of governments taking tangible measures to support women at this time, including legislation that helps mothers care for children under 12 years during this period. Undersecretary-General and Executive Director of UN Women Phumzile Mlambo-Ngcuka echoed that sentiment, stressing the need for tangible measures to solidify women's gains in the workforce and mitigate against the fallout from Covid-19.
We must keep in mind the toll that the pandemic will have on health workers for years to come. According to UN Women, 70 per cent of health workers and first responders around the world are women. And the gender pay gap in the health sector is estimated to be at 28 per cent – meaning that women are bearing a heightened financial, emotional and health burden.
Reena Jani, a health worker, gets ready to travel to receive the AstraZeneca vaccine in Koraput, India. According to UN Women, 70 per cent of health workers and first responders around the world are women. Reuters
Women are witnessing tangible regression in the areas of hard-won progress they made over the years
The issue of women in the workforce was discussed in a number of sessions during the Forum’s annual ”Davos Agenda” meeting, which has been held in its entirety virtually. However, the competing demands on policy makers may mean that women’s rights do not get the attention they deserve. They must.
Much has been said of the need to plan for a more equitable society with the emergence from the pandemic, and in order to do so, women have to be at the heart of that planning. Three priorities should be set towards that end. Firstly, providing the infrastructure needed for mothers to progress in the work place, which includes flexible hours to allow for family care and providing childcare facilities. Secondly, a continued effort to tackle gender inequality in pay across the board and securing all workers rights. Thirdly, and perhaps most importantly, protecting women in society and challenging those who seek to use conditions created by the pandemic as a tool of control to hold women back. That is the one fallout from this health crisis that should not be allowed.
White hydrogen: Naturally occurring hydrogen Chromite: Hard, metallic mineral containing iron oxide and chromium oxide Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
Flydubai flies to Podgorica or nearby Tivat via Sarajevo from Dh2,155 return including taxes. Turkish Airlines flies from Abu Dhabi and Dubai to Podgorica via Istanbul; alternatively, fly with Flydubai from Dubai to Belgrade and take a short flight with Montenegro Air to Podgorica. Etihad flies from Abu Dhabi to Podgorica via Belgrade. Flights cost from about Dh3,000 return including taxes. There are buses from Podgorica to Plav.
The tour
While you can apply for a permit for the route yourself, it’s best to travel with an agency that will arrange it for you. These include Zbulo in Albania (www.zbulo.org) or Zalaz in Montenegro (www.zalaz.me).
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.
HIV on the rise in the region
A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.
New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.
Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.
Access to HIV testing, treatment and care in the region is well below the global average.
Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.
What are the influencer academy modules?
Mastery of audio-visual content creation.
Cinematography, shots and movement.
All aspects of post-production.
Emerging technologies and VFX with AI and CGI.
Understanding of marketing objectives and audience engagement.
Tourism industry knowledge.
Professional ethics.
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final
What is safeguarding?
“Safeguarding, not just in sport, but in all walks of life, is making sure that policies are put in place that make sure your child is safe; when they attend a football club, a tennis club, that there are welfare officers at clubs who are qualified to a standard to make sure your child is safe in that environment,” Derek Bell explains.
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.”
Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don’t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.
Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights’ hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees; nomadicroad.com
A fully guided three-day, two-night itinerary at Three Camel Lodge costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way; threecamellodge.com
'Spies in Disguise'
Director: Nick Bruno and Troy Quane
Stars: Will Smith, Tom Holland, Karen Gillan and Roshida Jones
Rating: 4 out of 5 stars
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
8.55pm: Singspiel Stakes – Group 2 (TB) $180,000 (T) 1,800m Winner: Lord Glitters, Daniel Tudhope, David O'Meara
9.30pm: Al Shindagha Sprint – Group 3 (TB) $150,000 (D) 1,200m Winner: Meraas, Antonio Fresu, Musabah Al Muhairi
The biog
Age: 23
Occupation: Founder of the Studio, formerly an analyst at Cleveland Clinic Abu Dhabi
Education: Bachelor of science in industrial engineering
Favourite hobby: playing the piano
Favourite quote: "There is a key to every door and a dawn to every dark night"
Family: Married and with a daughter
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), EsekaiaDranibota (Harlequins), Matt Mills (Exiles), JaenBotes (Exiles), KristianStinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), EmosiVacanau (Harlequins), NikoVolavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), ThinusSteyn (Exiles)
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood. Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues. Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity. Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.