Although the world produces enough food to feed humanity’s population of 7.6 billion, more than 3 billion people cannot afford to maintain a healthy diet, according to a report by the Food and Agriculture Organisation, a UN agency.
Although ending hunger by 2030 was a hallmark of the UN Sustainable Development Goals, both hunger and malnutrition remain among the greatest challenges facing our species.
As the FAO report finds, we are not on track to achieve zero hunger in the next decade, and we are behind in several other nutrition-related indicators.
The Covid-19 pandemic, which has weakened economies and threatened international supply chains, has only hindered global progress further.
Measures to contain the disease have limited labour mobility and made access to nutritious food among the most vulnerable more difficult.
As Mariam Al Mheiri, the UAE Minister of State for Food Security, explained at a recent roundtable discussion, the pandemic has also increased awareness among policymakers and the public of the importance of nutrition in maintaining immune systems and combatting disease.
At its heart, food security has to be nutrition security; both are matters of public health.
They are particularly acute here in the Middle East, which once had a place in human history as the world’s breadbasket.
In the past century, the arid climate, economic underdevelopment and geopolitical instability that characterise large swathes of the region have left millions of its citizens food-insecure.
According to the World Food Programme, 20 million Yemenis are food-insecure. The country also suffers one of the highest rates of child malnutrition. In Syria, fuel and wheat shortages have created a hunger crisis.
During the height of the Covid19 pandemic, food shortages were felt in many parts of the globe, but not in the UAE
As with other problems of global magnitude, there will not be one solution, but many. Technology, for instance, will be a critical tool in humanity’s arsenal.
This explains the rise of the agricultural technology (AgriTech) sector in recent years. The UAE has made AgriTech investment a priority.
Even before the pandemic, the UAE was invested in enhancing its food security, growing its own vegetables – whether on vertical farms or by harnessing the potential of aquaculture.
To this end, the country has seen impressive results in its use of technology to source locally.
The progress is evident, as is the diversity of projects and different models of farming that are under way across the Emirates.
During the height of the Covid19 pandemic, food shortages were felt in many parts of the globe, but not in the UAE, thanks to measures taken as part of the National Food Security Strategy.
Beyond large-scale public investment, efforts to boost entrepreneurial solutions to food security issues are also critical.
This week, four start-ups, all of which are making great strides in growing or helping grow food sustainably, were awarded a share of a $1m prize at the country's FoodTech challenge to develop advanced solutions in the UAE.
The initiatives on display range from equipping fishing nets with lights to the use of saltwater for irrigation to grow food.
Technology, in the end, will not solve everything. A society-wide resolve to adhere to public health advice and promote healthy, locally sourced food will be integral to long-term solutions.
Regional co-operation across governments and civil society will also be critical.
The march to end hunger in the Middle East will be long, but with a renewed commitment to addressing the challenge at every level, the region can become a global breadbasket once again.
The Written World: How Literature Shaped History
Martin Puchner
Granta
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.”
iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available. Price: Dh4,229
iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus. Price: Dh4,649
iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel. Price: Dh3,179
Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister. "We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know. “All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.” It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins. Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement. The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
