Saudi Arabia's ambassador to the US, Princess Reema Bandar Al Saud, has responded to an opinion piece by tennis legends Chris Evert and Martina Navratilova which criticised the WTA Tour's plans to move the Finals to the kingdom, saying their stance is based on "outdated stereotypes".
The WTA Tour, the governing body of women's professional tennis, is reportedly close to agreeing to a deal with Saudi Arabia that would take the tour's season-ending Finals tournament to the kingdom for the foreseeable future.
Evert and Navratilova wrote a column for The Washington Post opposing the proposal, claiming a partnership with Saudi Arabia would be "entirely incompatible with the spirit and purpose of women’s tennis" and that "staging the WTA final there would represent not progress, but significant regression".
In response, Princess Reema issued a statement on Monday night defending the plans and imploring Evert and Navratilova to "get their facts straight".
"As a woman who has dedicated her life to the cause of women, it pained me deeply to read a column in The Washington Post objecting to Saudi Arabia hosting the Women's Tennis Association Finals based on arguments that are outdated stereotypes and western-centric views of our culture," read the statement on social media.
"Failing to acknowledge the great progress women have made in Saudi Arabia denigrates our remarkable journey. Like many women around the world, we looked to the legends of tennis as trailblazers and role models ... glimmers of hope that women truly could achieve it all. But these champions have turned their back on the very same women they have inspired and it's beyond disappointing."
Addressing claims from Evert and Navratilova's column which said women in Saudi Arabia "are not seen as equal, it is a country where the current landscape includes a male guardianship law that essentially makes women the property of men", Princess Reema responded: "On this, let me simply say: get your facts straight. What is often referred to as 'guardianship' no longer describes the status of Saudi women today.
"Women do not need the approval of a guardian to travel, work, or be the head of their household. Today, Saudi women own more than 300,000 businesses and roughly 25 per cent of small and mid-sized start-up companies, which is about the same percentage as the United States. Women in Saudi now enjoy equal pay, leading the way towards something that should be universal.
"While there's still work to be done, the recent progress for women, the engagement of women in the workplace, and the social and cultural opportunities being created for women are truly profound and should not be overlooked."
Turning her focus to the specifics of women's sport in Saudi Arabia, Princess Reema detailed the huge growth of female involvement and participation in the kingdom, not only as athletes but across the athletic landscape.
"Today we not only have women's sports leagues and federations, we also have more than 330,000 registered female athletes, with 14,000 actively playing tennis," she wrote. "We have thousands of women coaches, mentors, referees, and sport doctors. Women participate across sports in local, regional, and international competitions – and win.
"Yet it is at this time when we hear voices from overseas – even from those we honour and would welcome women-to-women conversations with – write us all off as victims and the voiceless, whose desires should be relegated to trendy political arguments in favour of exclusion. This not only undermines the progress of women in sport, it sadly undermines women's progress as a whole."
Princess Reema also urged Evert, Navratilova and others who may hold similar views to engage in dialogue and come together to champion women's causes, both in sport and beyond, in Saudi Arabia and across the world.
"To those who seek to deny our women the same opportunities that others enjoy, I say that what I hear loudly and clearly is that there is no seat for me at their table. But I will welcome them at mine," she wrote. "Because my table is not limited by political views, borders, race or geography.
"And I hope they accept my invitation to sit at my table and meet the women that they may not have intended to inspire but their hard work nonetheless has. I hear you. You didn't fight for us. But as we work to continue to fulfil our dreams, we will look back at your journey and carry your wins with us.
"As President of the Women's Committee for the Saudi Olympic and Paralympic Committee and a member of the Gender, Equality & Inclusions Commission at the International Olympic Committee, I have a responsibility to share our narrative with the world – not for approval – but for productive dialogue. To fight for our common cause – not only in Saudi Arabia, but in other places where women are no longer content to sit on the sidelines."
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The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
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Classification of skills
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.
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Credit Score explained
What is a credit score?
In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.
Why is it important?
Financial institutions will use it to decide whether or not you are a credit risk. Those with better scores may also receive preferential interest rates or terms on products such as loans, credit cards and mortgages.
How is it calculated?
The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.
How can I improve my score?
By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.
How do I know if my score is low or high?
By checking it. Visit one of AECB’s Customer Happiness Centres with an original and valid Emirates ID, passport copy and valid email address. Liv. customers can also access the score directly from the banking app.
How much does it cost?
A credit report costs Dh100 while a report with the score included costs Dh150. Those only wanting the credit score pay Dh60. VAT is payable on top.
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- Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
- Greater use of curfews and exclusion zones to deliver tougher supervision than ever on criminals.
- Explore wider powers for judges to punish offenders by blocking them from attending football matches, banning them from driving or travelling abroad through an expansion of ‘ancillary orders’.
- More Intensive Supervision Courts to tackle the root causes of crime such as alcohol and drug abuse – forcing repeat offenders to take part in tough treatment programmes or face prison.
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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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