ABU DHABI // Dr Amal Al Qubaisi was on Wednesday appointed President of the Federal National Council, making her the region’s first female leader of a national assembly.
“I am proud to take this seat for the first time as a woman in the Arab world,” she said, after winning the role of President and Speaker unopposed.
“I dedicate this achievement to the great women of the UAE, and to the Mother of the Nation, Sheikha Fatima bint Mubarak.”
The inauguration of the 16th FNC was led by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, who stressed to members the importance of serving the country’s citizens.
“Today your service to the UAE people has become a responsibility,” he said. “It is an obligation in front of Allah and the people of the UAE. Brothers and sisters, your council is held today and our country has become stronger, and our people more intertwined with their leaders.”
Also at the inauguration were emirates’ Rulers and Crown Princes, senior Cabinet members and the ambassadors of 80 countries.
Dr Al Qubaisi, who in 2006 became the first woman elected to the FNC, said the council had a great role to play in ensuring the UAE was competitive.
She also spoke of the Emirati soldiers fighting in Yemen as part of the Arab coalition in Operation Restoring Hope.
“We have to compete, in our nation, with the best nations out there,” Dr Al Qubaisi said.
“These are great responsibilities and we must put in our all to ensure the strengthening of our country, and the investment of all our expertise to look at developing the political role.
“Fellow members, with every great challenge we become better equipped, especially when it comes to our soldiers fighting in Yemen, and we raise our heads high in pride of them.
“We are under political responsibility, so I ask you to represent the UAE and its vision, and to continue to allow the UAE to thrive.”
The challenge of members, she said, was to “represent all Emiratis, those who voted and those who didn’t. I wish, with you, we can reach the whole emirates, to listen to them and become a part of their lives”.
Dr Al Qubaisi ended her speech by thanking those who had stood by her through her journey.
Emirati women applauded her appointment. Fatima Al Dhaheri, 30, an investment professional at a government institution, said she was not surprised that Dr Al Qubaisi was appointed the region’s first female leader of a national assembly .
“For us in the UAE, it is not unusual for a well-established Emirati woman to fill a major role in the Government,” Ms Al Dhaheri said. “We are used to the UAE being the first in many spheres.”
She hoped the move would inspire other women. “This landmark appointment will definitely open more doors for women to be speakers and have a bigger role in the council.”
Eman bin Chaibah, 30, said Dr Al Qubaisi’s election was a “historical moment for women’s empowerment in the country”.
“I think the win can humanise many of the FNC decisions and start pushing them in new direction that will benefit the community as a whole, as that is women’s nature in always looking out for everyone,” she said. It’s inspiring for women all around the community and it’s a proof that UAE walks the talk when it comes to women’s empowerment.”
Present for yesterday’s inauguration were Dr Sheikh Sultan bin Mohammed Al Qasimi, Ruler of Sharjah; Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman; Sheikh Hamad bin Mohammed Al Sharqi, Ruler of Fujairah; Sheikh Saud bin Rashid Al Mualla, Ruler of Umm Al Quwain; and Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah.
Also there were Sheikh Hamdan bin Mohammed, Crown Prince of Dubai; Sheikh Hamdan bin Rashid, Deputy Ruler of Dubai and Minister of Finance; Sheikh Sultan bin Mohammed Al Qasimi, Crown Prince and Deputy Ruler of Sharjah; Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman; Sheikh Mohammed bin Hamad Al Sharqi, Crown Prince of Fujairah; and Sheikh Rashid bin Saud Al Mualla, Crown Prince of UAQ.
Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of interior attended, as did Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, Sheikh Hazza bin Zayed, National Security Adviser, Sheikh Abdullah bin Zayed, Minister of Foreign Affairs, and Sheikh Nahyan bin Mubarak, Minister of Culture, Youth and Community Development.
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Dr. Amal Al Qubaisi biography:
ABU DHABI // In 2006, Dr Amal Al Qubaisi was the first woman elected to the Federal National Council. Now, she is the first chairwoman of the body.
In 2006, Dr Al Qubaisi was an architect and architecture teacher at UAE University.
She said of her election then: “I owe my success to my deep belief in Allah the Almighty, to the support I received from members of the electoral colleges in Abu Dhabi and to the sincere and realistic promises I gave during my campaign.”
She holds a bachelor’s degree in architecture from UAE University, and a master’s degree and a doctorate from the University of Sheffield in the UK.
Dr Al Qubaisi has also worked with Unesco on conservation projects. In 2011 she was chosen as first deputy speaker of the FNC and became the first woman to chair a council session. She won an Abu Dhabi Award in 2008 and last year was appointed director general of Abu Dhabi Education Council.
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Apple's Lockdown Mode at a glance
At launch, Lockdown Mode will include the following protections:
Messages: Most attachment types other than images are blocked. Some features, like link previews, are disabled
Web browsing: Certain complex web technologies, like just-in-time JavaScript compilation, are disabled unless the user excludes a trusted site from Lockdown Mode
Apple services: Incoming invitations and service requests, including FaceTime calls, are blocked if the user has not previously sent the initiator a call or request
Connectivity: Wired connections with a computer or accessory are blocked when an iPhone is locked
Configurations: Configuration profiles cannot be installed, and the device cannot enroll into mobile device management while Lockdown Mode is on
The specs
Engine: Single front-axle electric motor
Power: 218hp
Torque: 330Nm
Transmission: Single-speed automatic
Max touring range: 402km (claimed)
Price: From Dh215,000 (estimate)
On sale: September
Saturday's schedule at the Abu Dhabi Grand Prix
GP3 race, 12:30pm
Formula 1 final practice, 2pm
Formula 1 qualifying, 5pm
Formula 2 race, 6:40pm
Performance: Sam Smith
COMPANY PROFILE
Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others
Company Profile
Company name: myZoi
Started: 2021
Founders: Syed Ali, Christian Buchholz, Shanawaz Rouf, Arsalan Siddiqui, Nabid Hassan
Based: UAE
Number of staff: 37
Investment: Initial undisclosed funding from SC Ventures; second round of funding totalling $14 million from a consortium of SBI, a Japanese VC firm, and SC Venture
A Cat, A Man, and Two Women
Junichiro Tamizaki
Translated by Paul McCarthy
Daunt Books
So what is Spicy Chickenjoy?
Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.
WHAT MACRO FACTORS ARE IMPACTING META TECH MARKETS?
• Looming global slowdown and recession in key economies
• Russia-Ukraine war
• Interest rate hikes and the rising cost of debt servicing
• Oil price volatility
• Persisting inflationary pressures
• Exchange rate fluctuations
• Shortage of labour/skills
• A resurgence of Covid?
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
Kill
Director: Nikhil Nagesh Bhat
Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal
Rating: 4.5/5
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.”
