Can happy Danes help their counterparts in the UAE? Henning Bagger / AFP
Can happy Danes help their counterparts in the UAE? Henning Bagger / AFP
Can happy Danes help their counterparts in the UAE? Henning Bagger / AFP
Can happy Danes help their counterparts in the UAE? Henning Bagger / AFP

From north to south, we all approach happiness differently


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What is the secret behind Denmark’s happiness? This is a question that I often hear. But happiness is not a secret it is something to be shared. As when your grandmother reveals her secret recipe that has kept generations delighted and satisfied for years, it is impossible to copy straight away.

With the right amount of time, love and continuous investments you end up with your own version that will keep the coming generations hungering and happy for years to come. Happiness is nothing different.

The UAE and Denmark share many similarities counting in the measurement of happiness. Healthy life expectancy, economic stability with high gross domestic product per capita and trust in the sense of absence of corruption in government and business. Though, it is the secret spices growing in our own backyards that make the taste so much sweeter and the smiles equally wider.

In Denmark, we have something called “hygge”. A state of mind with no head-on translation but to some extent defined as cultivated cosiness. “Hygge” is social connections where Danes enjoy and embrace life’s simple pleasures. Chocolate. Candlelight. Warm blankets. Or the company of good friends. A concept and living rule, which all Danes learn from early childhood to indulge and pass on to their loved ones.

Sheikh Mohammed bin Rashid, Vice President and Prime Minister and Ruler of Dubai, responded recently to a question about the creation of the new happiness ministry and why a 22-year-old Minister of State for Youth was appointed to led the state office.

In his answer, Sheikh Mohammed spoke highly about a future built on happiness, tolerance and the drive of the youth: “We have learnt that failure to respond effectively to the aspirations of young people, who represent more than half of the population in Arab countries, is like swimming against the tide. Without the energy and optimism of youth, societies cannot develop and grow; indeed, they are doomed.”

For me, the learning part is the key. We have to study ourselves, in terms of both strengths and weaknesses, and with those lessons in mind either improve or build on top of them.

As importantly, we have to learn from each other. Like Danes teach Danes to “hygge”. Share experiences and embrace the differences, which for individual reasons and in various ways add smiles to our faces and joy to our minds.

By doing so, the first major steps towards a happier nation are taken. Denmark took the top spot in the United Nation’s World Happiness Report in 2013 and 2014, and came in third in 2015. But happily we regained the title as the planet’s happiest country, pipping Switzerland, Iceland, Norway and Finland to the top spot in the recent annual World Happiness Report 2016.

Adding to the happy Dane is the organisation of the society. The Danish welfare society frames the development of the individual and provides a safety net for all citizens.

A united trust in our communities creates a free scope for everyone’s individual ability supporting the bespoke pursuit of happiness hidden in all of us.

When reaching out with faith in both local and global communities we plant the best soil for one of the key stakes in happiness – a blossoming personal development.

In the same way, we must globally step up to the plate and invite everyone interested to a potluck of happiness sharing homemade recipes that could act as an inspirational methods towards growing and developing happier societies.

Happiness is at work in the UAE. The nation’s focus on happiness has become an essential part of the work of the government focusing on the quality of life and job satisfaction just to name a few.

This focus being particular expressed within the appointment of the new Minister of Happiness, who is only one out of five Happiness Ministry’s worldwide along with Bhutan, Ecuador, Scotland and Venezuela. A focus that makes me glad.

Not only for the contribution to a happier nation and a happier world in general, but also for a healthy competition on nationwide smiles and happy citizens.

Even though weather in Denmark can be dreary and in winter it is dark most of the day, we are still considered to be the world’s happiest nation.

So with warm weather year around in the sunny nation of the UAE, I reckon UAE’s ambitious happiness initiatives have a fruitful foundation.

Merete Juhl is ambassador of Denmark to the UAE

Pakistan Super League

Previous winners

2016 Islamabad United

2017 Peshawar Zalmi

2018 Islamabad United

2019 Quetta Gladiators

 

Most runs Kamran Akmal – 1,286

Most wickets Wahab Riaz –65

What is the definition of an SME?

SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.

A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors. 

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How to register as a donor

1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention

2) There are about 11,000 patients in the country in need of organ transplants

3) People must be over 21. Emiratis and residents can register. 

4) The campaign uses the hashtag  #donate_hope

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

The specs: 2018 Mercedes-Benz E 300 Cabriolet

Price, base / as tested: Dh275,250 / Dh328,465

Engine: 2.0-litre four-cylinder

Power: 245hp @ 5,500rpm

Torque: 370Nm @ 1,300rpm

Transmission: Nine-speed automatic

Fuel consumption, combined: 7.0L / 100km

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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MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

About RuPay

A homegrown card payment scheme launched by the National Payments Corporation of India and backed by the Reserve Bank of India, the country’s central bank

RuPay process payments between banks and merchants for purchases made with credit or debit cards

It has grown rapidly in India and competes with global payment network firms like MasterCard and Visa.

In India, it can be used at ATMs, for online payments and variations of the card can be used to pay for bus, metro charges, road toll payments

The name blends two words rupee and payment

Some advantages of the network include lower processing fees and transaction costs

 

 

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Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

UAE currency: the story behind the money in your pockets