More than Dh18 million has been raised for Syrian refugees on the first day of a fundraising drive.
The campaign, Our Hearts are with the Syrian People, was launched to help those struggling to survive in camps as winter storms batter parts of the Middle East.
The initiative, created by the Emirates Red Crescent after a directive from the President, Sheikh Khalifa, raised Dh18.1m on Thursday, organisers said.
Donations are flowing in from the public and corporate donors.
Funds should be substantially boosted over the weekend thanks to a two-day telethon on Abu Dhabi TV, which is owned by Abu Dhabi Media Company, which publishes The National.
The programme will run on Friday from 2pm to 8pm, then on Saturday from 2pm to 4pm, with live coverage from refugee camps in Jordan and fundraising stations across the UAE.
Celebrities from the Arabian Gulf and Syria will lend their support, including an Emirati musician, Hussain Al Jasmi.
Experts and journalists will be speaking on the plight of the Syrian refugees, while a psychologist will discuss the effects of cold on their mental health.
Red Crescent workers will address the Government’s role in supporting the refugees, while religious leaders are expected to talk about the moral responsibilities of donating to support people in dire circumstances.
The telethon’s organiser, Saeed Al Sheaibi, a news presenter at Abu Dhabi TV, said local media had mobilised itself behind the Syrian refugees campaign.
“The media plays a big and important role in society – to show the reality of the suffering of the people there, by showing them videos and interviews, and to show them that your brothers in humanity are suffering,” he said.
He hoped the campaign would convince people that it was not only the Government’s responsibiliy to help the refugees.
Apart from the telethon, other TV channels and radio stations have been regularly broadcasting numbers residents can text to donate money to the campaign.
Emirates FM and Quran Kareem Radio, both part of Abu Dhabi Media Company, broadcast programmes on Thursday afternoon to spread word about the telethon.
Mohammed Ateeq Al Falahi, secretary general of the Red Crescent, praised residents for their rapid response to the campaign.
He called on everyone to take part in the humanitarian efforts for the next two days.
The fundraising efforts were also advocated by Sheikh Hamdan bin Mohammed, the Crown Prince of Dubai.
“This campaign reflects His Highness the President’s sensitivity as a human being and the authenticity and generosity of the Emirati people,” he said, reported the state news agency Wam
“We have seen harsh photos in recent days of Syrian refugees in countries neighbouring Syria following the blizzard. It was harrowing to see images of their children in the snow and their tents covered in white.”
Sheikh Hamdan believes the people of the UAE will be driven by honour and benevolence to respond and to help their “brothers in the Sham region”.
“We call upon all institutions, companies and capable individuals to participate in this campaign and contribute to its success in a manner that befits the UAE’s standing,” he said.
On Thursday, Dh1m had been raised through an SMS campaign, while Dh10m had been given by the Dubai Islamic Bank Humanitarian Foundation.
Other notable amounts included Dh3.6m from Dar Al Ber Society, Dh1m each from Al Ansari Exchange and Al Hilal Bank, and Dh1.5m from businessman Khalifa Al Naboodah.
The civil war in Syria has forced more than 2.3 million people to leave their homes since March 2011. About 800,000 refugees are now in Lebanon, with a further 500,000 in Jordan.
The extreme weather has increased the urgency among international aid organisations to provide more relief to refugees, thousands of whom live in tent camps with limited supplies.
People can donate by visiting the Red Crescent website www.rcuae.ae or via SMS.
Du subscribers can donate Dh10 by sending an SMS to 7110, Dh50 to 7150, Dh100 to 7100 and Dh200 to 7200. Etisalat users can donate Dh10 with an SMS to 4010, Dh50 to 7050, Dh100 to 7100 and Dh200 to 7200.
They can also hand over money and goods at collection stations at the Dubai Mall, Marina Mall in Abu Dhabi and Mega Mall in Sharjah.
lcarroll@thenational.ae
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
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What should do investors do now?
What does the S&P 500's new all-time high mean for the average investor?
Should I be euphoric?
No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.
So what happened?
It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.
"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."
Should I buy? Should I sell?
Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.
"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.
All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.
Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.
Will the rally last?
No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.
"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."
Email sent to Uber team from chief executive Dara Khosrowshahi
From: Dara
To: Team@
Date: March 25, 2019 at 11:45pm PT
Subj: Accelerating in the Middle East
Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.
Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.
I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.
This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.
It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.
Uber on,
Dara
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