Cadets from the Abu Dhabi Police College attend the International Conference on Security Challenges at Armed Forces Officers club in Abu Dhabi on March 30, 2014. Ravindranath K / The National
Cadets from the Abu Dhabi Police College attend the International Conference on Security Challenges at Armed Forces Officers club in Abu Dhabi on March 30, 2014. Ravindranath K / The National

Abu Dhabi security conference is ‘yet another step on the track of security action’



ABU DHABI // Based on the International Conference for Security Challenges, held Monday, the organising scientific committee of the International Security and National Resilience (ISNR) exhibition, which begins Tuesday, presented a number of recommendations.

These include the development of security means to be able to cope with challenges and building bridges with academic and research institutions.

“This will help to serve the international security system and the sustainability of actions and functions during crises,” said Brig Saeed Salem Al Hanki, chairman of the ISNR’s organising scientific committee. “Inviting media institutions to revise their strategy to create a responsible media that can contribute is another recommendation.”

He was speaking at the closing of the ICSC meeting at the Armed Forces Officers club.

“Holding this conference is the result of intensive efforts to attract experts and researchers of high calibre,” he said. “This conference is yet another step on the track of security action and a contribution to reach a safe world whereby all humanity, regardless of their colour, sect and religion, enjoy safety and stability.”

Other recommendations include the establishment of a mechanism that can bring experts together to create new ways of dealing with extremism, and creating a safe environment.

“Creating a cooperation system among different global security bodies to exchange expertise and disseminate best practices and successful security procedures is also key,” he said. “We must also improve the flow of information among different countries to reach the best ways to plan and manage large-scale international events.”

Brig Al Hanki said encouraging researchers to contribute effectively to international security was crucial. “We should also create local and international initiatives to prevent dangers. Establishing a consultation committee that comprises former and present international experts, security and military officials is needed. They should have a lot of experience in security to enhance this conference and take it to the international level.”

He said the topics discussed at the conference were of utmost importance. “They raised several vital issues that should be studied and followed up by decision-makers at different institutional levels,” he said. “This is aimed at enhancing security and improving preemptive capabilities to security challenges while reaching a safe society.”

The conference focused on the importance of sharing knowledge and exchanging expertise to achieve security, safety and stability.

“It contributed to our knowledge and highlighted the importance of integrating institutional efforts to face extremism and crime,” Brig Al Hanki said. “This is a proper knowledge transfer. We can’t completely eliminate crimes but we can endeavour to decrease them to provide safety and security to the people in the world.”

cmalek@thenational.ae

Squid Game season two

Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

The biog

Name: Abeer Al Shahi

Emirate: Sharjah – Khor Fakkan

Education: Master’s degree in special education, preparing for a PhD in philosophy.

Favourite activities: Bungee jumping

Favourite quote: “My people and I will not settle for anything less than first place” – Sheikh Mohammed bin Rashid.

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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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Starring: Nicole Kidman, Liev Schreiber, Jack Reynor

Creator: Jenna Lamia

Rating: 3/5

Motori Profile

Date started: March 2020

Co-founder/CEO: Ahmed Eissa

Based: UAE, Abu Dhabi

Sector: Insurance Sector

Size: 50 full-time employees (Inside and Outside UAE)

Stage: Seed stage and seeking Series A round of financing 

Investors: Safe City Group