As thousands of final-year students in the UAE submit their applications to local universities, we take a look at some of the best higher education options in the Emirates and what they have to offer
What is it?
New York University bills itself as the largest private university in the US and has a total enrolment of more than 58,000 as well as more than half a million alumni. Consistently ranked highly in world rankings, the university has a strong research base and faculty which have earned five Nobel prizes, five Pulitzer prizes and numerous other prestigious awards.
NYU Abu Dhabi was set up in partnership with Abu Dhabi emirate as a separate degree-granting institution. A third NYU campus that confers degrees opened in Shanghai in 2012.
NYU has a nickname, Violets, as a result of its official colour. While the New York campus has a bobcat as a mascot, in Abu Dhabi the mascot is a falcon.
Where is it from?
New York, which is widely regarded as one of the world’s greatest cities.
When was it founded?
1831 (parent university); 2010 (NYU Abu Dhabi)
Where is it based?
Saadiyat Island, Abu Dhabi
How did it handle Covid-19?
In statements and on its website, the university said: "Classes are happening in-person with social distancing in place and masks worn at all times, so strict Covid-19 measures are being applied to ensure everyone’s safety and health.
"All students, faculty staff, and visitors approved to return to campus are expected to maintain a two-metre distance at all times, to avoid handshaking, and to avoid nonessential gatherings of any type (including in break rooms, meeting rooms and lounges).
"In line with regulations, all visitors to campus must be vaccinated and are expected to show their identification document and Al Hosn app (the UAE’s official Covid-19 app), which must be green, to a security officer on arrival. Visitors have to submit to a temperature check and a PCR test is required every 14 days."
What are examples of the fees?
$53,770 (Dh197,497) – bachelor’s degree (annual fee)
$80,205 (Dh294,593) – master of science in economics
All UAE national students admitted are awarded the Sheikh Mohamed bin Zayed NYUAD Scholarship for Exceptional Emirati Students, which covers tuition fees, living costs and other expenditure for four years.
Every admitted student is considered for merit-based support and NYUAD additionally provides need-based scholarships to those who qualify.
What subject areas does NYU Abu Dhabi teach?
- Bachelor’s degree (major) subjects include: Arab crossroads studies, art, art history, bioengineering, business, chemistry, computer science, economics, engineering (various sub-disciplines), film and new media, history, interactive media, legal studies, literature and creative writing, mathematics, music, philosophy, physics, political science, psychology, social research and public policy, theatre. Only majors are listed, and the university offers minors in many additional subjects.
- Master’s degree subjects include art and media, and economics.
- PhD subjects include biology, chemistry, computer science, engineering (various sub-disciplines), psychology, physics and transportation planning and engineering.
What doesn’t NYU Abu Dhabi teach?
Accountancy, agriculture, archaeology, criminology, dentistry, geology, journalism, marketing, medicine, sports science and veterinary medicine.
Where is it ranked globally?
42nd – QS World University Rankings ( NYU parent university)
26th – Times Higher Education World University Rankings (parent university)
Notable alumni?
- Shamma Al Mazrui (NYU Abu Dhabi), who studied economics with finance, is the UAE Minister of State for Youth.
- Jack Dorsey (NYU New York), the co-founder and CEO of Twitter, did not complete his degree at NYU, but is said to have developed the idea of the messaging platform while studying there.
- Martin Scorsese (NYU New York), one of the most acclaimed film directors of all time, whose credits include Taxi Driver, Cape Fear, Gangs of New York and The Wolf of Wall Street.
Who goes there?
There are 1,834 undergraduates and more than 100 postgraduate students at NYU Abu Dhabi, plus more than 1,700 alumni. The best-represented country is the UAE (18 per cent of students), followed by United States (9 per cent), then India (seven per cent).
A word from Prof Mariet Westermann, vice chancellor of NYU Abu Dhabi:
"NYU Abu Dhabi is still young, but thanks to the vision of this country's leaders and NYU, in just over a decade we have built an excellent and bold community of scholars who are ready to meet the opportunities and challenges of our time.
"Our education combines the best of the liberal arts tradition with the research capabilities of a top-ranked global university – in science, engineering, social science, humanities, and arts.
"Our diversity is a signature strength, with students from the UAE and 115 other countries who are committed to using their learning to create a better world.
"Our professors are leading scholars who support and challenge their students. We are blessed to have extraordinary research labs, where professors create new knowledge with their students.
"Our location in Abu Dhabi lets us extend learning beyond the classroom into the UAE community.
"Most students spend at least one semester at one of NYU’s 14 sites on six continents.
"Our graduates find outstanding employment and graduate school placements; among our alumni are 16 Rhodes Scholars and many other major award recipients.
"We continuously expand our offerings, having just launched a new master's in economics and starting a master's in visual art and media this fall.
"In short, NYU Abu Dhabi is poised to become one of the most outstanding and relevant universities anywhere in the world."
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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Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
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Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
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Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)
