The good news stories from 2023 could be jotted down on a Post-it note - although at least a final addendum is the decision to transition away from fossil fuels, agreed on at Cop28 in mid-December.
As for the bad news? An earthquake in Turkey and Syria left an estimated 60,000 dead, a coup in Niger threatened the stability of Africa’s entire Sahel region, and forest fires and drought attributed to climate change ravaged large areas of Europe, North America and North Africa, with Nasa declaring this summer the hottest on record.
In the Middle East, Lebanon teetered on the brink of economic catastrophe, while politicians and warlords in Libya continued to fail to find a way forward to bring desperately needed peace and stability to its people.
Both were eclipsed, though, by the appalling events beginning in October with the killing and kidnapping of about 1,200 people in Israel by Hamas and the resulting brutal and unrelenting assault on Gaza in response, which has so far left nearly 20,000 Palestinians dead.
Meanwhile, the conflict between Russia and Ukraine continued largely away from the headlines, with no prospect of peace, and thousands of young soldiers and civilians put through the meat grinder of war.
Looking ahead
So much for the past year. Can we hope that 2024 will be better, not least because it is a leap year and will last a day longer? (So happy birthday to Algerian rai music superstar Khaled, born in 1960 and about to turn 16).
The next 12 months could have little potential for change, at least politically. Russia will almost certainly re-elect President Putin in March, in part because of the lack of any credible opposition.
Ukraine also goes to the polls that month, in what could be a vote of confidence in President Zelenskyy’s handling of a war now entering its third year.
Across the Atlantic, Americans must decide in November who to elect, in what increasingly looks like a rerun of 2020. President Joe Biden, now 81, is insisting he not too old for a second term and likely to face former president Donald Trump for the Republicans – providing the latter can stay out of jail.
Elsewhere, important elections will take place at the European Parliament and in nearly 40 countries, including India, Pakistan, Finland, Mexico and the UK, where the Conservatives are in real danger of losing power after 13 years.
In total, seven of the world’s 10 most populous countries will go to the polls in 2024, making it the busiest election year in history, according to The Economist magazine.
AI in politics
A major concern in many of these polls is the potential malign influence of artificial intelligence (AI). An article published by Chatham House, the foreign affairs London-based think tank, warns of “concerns that voters will never be certain that what they see and hear in the campaign is real”.
AI, the author writes, can “in an instant clone a candidate’s voice, create a fake film, or churn out bogus narratives to undermine the opposition’s messaging”.
The issue is likely to heighten concerns about the power of big tech in our lives and especially the role and responsibilities of companies such as TikTok, Facebook and X – if Elon Musk can keep it from bankruptcy.
The Brics group of emerging economies, a rival to the western-dominated G7 and comprising Brazil, Russia, India, China and South Africa, is likely to expand.
The UAE, Saudi Arabia, Iran, Egypt and Ethiopia have been invited to join on January 1, in a challenge to the world’s economic balance of power and potentially the long-term future of the US dollar as the sole global currency.
Whether the world will prosper in 2024 remains uncertain. Energy prices will continue to fluctuate, while inflation still lurks and interest rates remain the highest for many years. Organisations such as the World Economic Forum predict poor growth for 2024 but believe the world may avoid a recession – just.
Equally uncertain is the weather, with more drought, wildfires and floods predicted, the result of climate change. The deadline of reducing CO2 emissions by 45 per cent by 2030 is a year closer, and it is hoped Cop29 in Azerbaijan will build on the achievements from the UAE's gathering in 2023.
At least the world can come together peacefully in the pursuit of sporting excellence. July and August will feature the summer Olympic Games in Paris, with a spectacular opening ceremony down the Seine river.
Unusual predictions
Gazing into a crystal ball is always an uncertain, if not unreliable business. Nostradamus, according to those who interpret the 500-year-old prophet of doom, sees floods, famine, a “parched Earth” and a great naval battle in 2024 in which the “reds” will lose. Some are seeing this a portent of conflict around Taiwan and the South China Sea.
The Danish bank Saxo is known for its “Outrageous Predictions”, which for the coming year include an end to obesity, thanks to new drugs, Saudi Arabia buying the Uefa Champions League and Robert F Kennedy unexpectedly winning the US presidential election.
Their 2023 predictions, however, including the resignation of President Macron and a new Brexit referendum in Britain, proved spectacularly wrong.
At least the Chinese Year of the Dragon should bring a period of calmness and reliability.
Science is generally more reliable. Watch out for the launch of Artemis 2, a manned Nasa mission which will involve humans, including the first woman and first African-American, orbiting the Moon for the first time since 1972.
Jeff Bezo’s Blue Origin is planning a launch with an all-woman crew early in the new year, while Dream Chaser, the next-generation Space Shuttle, is expected to enter service in 2024 with a visit to the International Space Station.
Back to Earth, and the bane of many a traveller should end in the coming months, with the widespread installation of new airport scanning technology that means you will be able to carry up to two litres of liquid through security. Say goodbye also to those clear plastic bags and taking your laptop out for inspection.
Anyone looking for entertainment to lift the spirit and forget their troubles for a couple of hours will find franchises and sequels dominating the cinema screen. Ghostbusters, The Joker, Mad Max, Planet of the Apes and the Alien series will all return, with the second instalment of the Dune science fiction trilogy and Ridley Scott’s Gladiator 2 most anticipated. Are you not entertained?
The year 2024 also means we are almost at the end of the first quarter of the 21st century. The early 2020s are unlikely to be remembered as a golden age when we look back in future years. Or at least we really hope they aren't.
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Tips to keep your car cool
- Place a sun reflector in your windshield when not driving
- Park in shaded or covered areas
- Add tint to windows
- Wrap your car to change the exterior colour
- Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
- Avoid leather interiors as these absorb more heat
Our legal advisor
Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.
Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation.
Education: Sagesse University, Beirut, Lebanon, in 2005.
Company%20profile
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The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
UAE currency: the story behind the money in your pockets
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
THE%20HOLDOVERS
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Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
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Why seagrass matters
- Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
- Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
- Biodiversity: Support species like sea turtles, dugongs, and seabirds
- Coastal protection: Reduce erosion and improve water quality
Tributes from the UAE's personal finance community
• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
• Steve Cronin, founder of DeadSimpleSaving.com
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
• Zach Holz, who blogs about financial independence at The Happiest Teacher
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
About Seez
Company name/date started: Seez, set up in September 2015 and the app was released in August 2017
Founder/CEO name(s): Tarek Kabrit, co-founder and chief executive, and Andrew Kabrit, co-founder and chief operating officer
Based in: Dubai, with operations also in Kuwait, Saudi Arabia and Lebanon
Sector: Search engine for car buying, selling and leasing
Size: (employees/revenue): 11; undisclosed
Stage of funding: $1.8 million in seed funding; followed by another $1.5m bridge round - in the process of closing Series A
Investors: Wamda Capital, B&Y and Phoenician Funds