The latest push by the Abu Dhabi government to prioritise the medical well-being of citizens and residents is a welcome step for residents of the Emirate. It was reiterated on Wednesday that all hospitals, public or private, must treat emergencies regardless of how extensively the patients are covered by health insurance or the money they have on them when they reach the hospital. There can be no delay in treating urgent medical cases.
In Abu Dhabi, hospitals were already required to treat patients regardless of their medical cover. This was following an order from the health authorities several years ago. But Wednesday’s renewed commitment to aid those in the midst of medical emergencies will make all the difference between a life saved and a life lost.
In Abu Dhabi, residents have significant advantages: new state-of-the-art medical facilities have either come up recently or are soon due to
It is unconscionable that any hospital would turn away a person requiring urgent medical treatment on the grounds of inadequate insurance or not enough cash at hand. For most people, these are commonly felt anxieties. Misfortune could befall anyone, be it a car crash or other traumas where emergency medical response is of the essence. There can be no time wasted in scrutinising the validity of insurance cards. And treatment must begin even if the entire amount is not paid up front, in one go.
A circular was sent to “all health service providers in Abu Dhabi emirate, reiterating the importance of receiving/treating all emergency cases – regardless of validity of the insurance cards – and to ensure that hospitals are prepared to accept or refer necessary cases,” Abu Dhabi Government Media Office said on Wednesday.
Indeed, when documentation and incomplete payment snatch precious minutes and lives drain away in that time, our humanity is compromised and we as a collective fail. In preventing that from becoming the norm, and putting in place measures for circumstances to not come to that, credit is due to Abu Dhabi’s government for this compassionate approach.
It has to be borne in mind, however, that medical insurance regulations are not the same in all emirates. In 2006, Abu Dhabi introduced mandatory health insurance and the city bore the distinction of providing the most comprehensive cover for the average resident. It is provided by employers and their employees' families are typically covered. It entitles someone to Dh250,000 of care. Dubai's mandatory health insurance – introduced in 2015 – stipulates that employees, their dependents and domestic helpers are entitled to Dh150,000 per year of treatment. Medical insurance packages can also vary significantly in terms of the cover provided.
Employers in the Northern Emirates are not legally bound to pay for their employees' insurance. However, the best employers know that providing health insurance is an investment both for the employer and their people.
In Abu Dhabi, residents have significant advantages: state-of-the-art medical facilities have either opened recently or are soon due to. Four months ago, for example, the Specialised Rehabilitation Hospital opened its doors. Neurological disorders are able to be treated at the facility, such as the almost unheard of Guillain-Barré syndrome.
By all accounts, Abu Dhabi’s medical capacities are only burgeoning. Next month, the Mayo Clinic is set to be fully operational. It will be equipped to treat cancer, bone marrow transplants and several other advanced medical conditions. Alongside the capital’s public hospital operator Seha, Mayo Clinic will jointly run Abu Dhabi’s new mega hospital, Sheikh Shakhbout Medical City, which, again, will be fully operational in January. Its chief medical officer, Dr Abdul Majeed Al Zubaidi, had said the hospital was a “centre of excellence when it comes to trauma and burns”, which is what people need and where they should be able to go if a circumstance should arise.
These new pioneering medical facilities go a long way to reassure residents that there is excellent medical care at hand and in the case of emergencies, it is in fact accessible.
Abu Dhabi’s reiteration that allows everyone in emergencies to access stellar medical care has done people facing the misfortune of medical crises an immeasurable good. By broadening crucial access to some of the best health care in the region, Abu Dhabi has prioritised the well-being of all its residents.
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.”
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
'Top Gun: Maverick'
Rating: 4/5
Directed by: Joseph Kosinski
Starring: Tom Cruise, Val Kilmer, Jennifer Connelly, Jon Hamm, Miles Teller, Glen Powell, Ed Harris
The language of diplomacy in 1853
Treaty of Peace in Perpetuity Agreed Upon by the Chiefs of the Arabian Coast on Behalf of Themselves, Their Heirs and Successors Under the Mediation of the Resident of the Persian Gulf, 1853
(This treaty gave the region the name “Trucial States”.)
We, whose seals are hereunto affixed, Sheikh Sultan bin Suggar, Chief of Rassool-Kheimah, Sheikh Saeed bin Tahnoon, Chief of Aboo Dhebbee, Sheikh Saeed bin Buyte, Chief of Debay, Sheikh Hamid bin Rashed, Chief of Ejman, Sheikh Abdoola bin Rashed, Chief of Umm-ool-Keiweyn, having experienced for a series of years the benefits and advantages resulting from a maritime truce contracted amongst ourselves under the mediation of the Resident in the Persian Gulf and renewed from time to time up to the present period, and being fully impressed, therefore, with a sense of evil consequence formerly arising, from the prosecution of our feuds at sea, whereby our subjects and dependants were prevented from carrying on the pearl fishery in security, and were exposed to interruption and molestation when passing on their lawful occasions, accordingly, we, as aforesaid have determined, for ourselves, our heirs and successors, to conclude together a lasting and inviolable peace from this time forth in perpetuity.
Taken from Britain and Saudi Arabia, 1925-1939: the Imperial Oasis, by Clive Leatherdale
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
UAE currency: the story behind the money in your pockets
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
Our Time Has Come
Alyssa Ayres, Oxford University Press
Company profile
Name: One Good Thing
Founders: Bridgett Lau and Micheal Cooke
Based in: Dubai
Sector: e-commerce
Size: 5 employees
Stage: Looking for seed funding
Investors: Self-funded and seeking external investors
