In the UAE, women make up about 70 per cent of all university graduates. Photo: Nama
In the UAE, women make up about 70 per cent of all university graduates. Photo: Nama
In the UAE, women make up about 70 per cent of all university graduates. Photo: Nama
In the UAE, women make up about 70 per cent of all university graduates. Photo: Nama

Sheikha Fatima 'led the way' for girls' education from the beginning


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Sheikha Fatima, the Mother of the Nation, has been working continually to empower women through education.

She supported, encouraged, and believed in the role women could play in the country's development, said Sheikha Dr Moza bint Tahnoun Al Nahyan, adviser to the UAE's Ministry of Foreign Affairs and International Co-operation.

"In Sheikha Fatima's words, progress is achieved in its true sense when all members of the society develop in an equitable way. In the UAE, we have that and women are equal partners," Sheikha Moza said at the Global Summit of Women in Abu Dhabi, which took place from February 21 to February 22.

"Educating girls not only improves gender equality but promotes economic growth, and helps lift households, communities, and countries out of poverty.

"Sheikha Fatima always said education is the window through which women can gain a deeper understanding of civilisations. This is important for progress and development, as well as our society's continued advancement," Sheikha Moza said.

"In the UAE women's education was a vital component of the country's development, which was established by the UAE's founding father, Sheikh Zayed bin Sultan Al Nahyan, may his soul rest in peace."

Sheikha Moza said the UAE leads by example.

"At the Arab, regional, and international levels, the UAE is a model for women's advancement. It's important to note that women make up about 70 per cent of all university graduates, particularly in Stem [subjects]. In addition, women represent about 44 per cent of all researchers in this country," she said.

According to the latest data from the country’s Gender Balance Council, the literacy rate among women in the UAE is 95.8 per cent.

The most striking fact is that 95 per cent of female high-school graduates pursue further education at tertiary-level institutions, compared with 80 per cent of males.

Women constitute almost two-thirds of students attending government universities and 56 per cent are pursuing Stem courses.

"Globally, there are still several challenges that women face that prevent them from accessing education.

"According to the United Nations Educational, Scientific and Cultural Organisation, only 35 per cent of students enrolled in Stem-related fields worldwide are women."

"At the international level, the UAE pledged in 2021 to provide $100 million to the Global Partnership for Education to support the 2025 strategy for education programmes in developing countries, to be provided from 2021 to 2025.

"I am confident that the results and recommendations made during this Summit will represent a turning point in achieving the goals that we all aspire to in addressing the issues and challenges facing women in our contemporary world," she said.

Emirati women blazing a trail - in pictures

  • Anna Al Qubaisi became the first Arab woman to participate at the Rotax Max Challenge World Finals in 2017 and the first to win the UAE RMC Championship. Picture: Jorge Ferrari
    Anna Al Qubaisi became the first Arab woman to participate at the Rotax Max Challenge World Finals in 2017 and the first to win the UAE RMC Championship. Picture: Jorge Ferrari
  • Ms Al Qubaisi and YouTuber Sam Fane starred in Etihad Airways' 'Hosting the World' video series. Photo: Etihad Airways
    Ms Al Qubaisi and YouTuber Sam Fane starred in Etihad Airways' 'Hosting the World' video series. Photo: Etihad Airways
  • Ms Al Qubaisi's successes include the 2018 Italian F4 Championship with Prema. Picture: Handout
    Ms Al Qubaisi's successes include the 2018 Italian F4 Championship with Prema. Picture: Handout
  • She was the first woman to take part in a Formula E test when she drove for the Envision Virgin Racing team in Riyadh. Karma Gurung / The National
    She was the first woman to take part in a Formula E test when she drove for the Envision Virgin Racing team in Riyadh. Karma Gurung / The National
  • She was the first woman and first Emirati to win the Senior class Rotax Max Challenge. Photo: Abu Dhabi Racing
    She was the first woman and first Emirati to win the Senior class Rotax Max Challenge. Photo: Abu Dhabi Racing
  • One of the most common challenges that annoyed Ms Al Qubaisi was constantly coming up against stereotypes. Photo: Handout
    One of the most common challenges that annoyed Ms Al Qubaisi was constantly coming up against stereotypes. Photo: Handout
  • UAE figure skater Zahra Lari is breaking down barriers to put Emirati women on the sporting map. AP
    UAE figure skater Zahra Lari is breaking down barriers to put Emirati women on the sporting map. AP
  • When she was 17, she made history by becoming the first figure skater from the UAE to compete in an international competition. Fatima Al Marzooqi / The National
    When she was 17, she made history by becoming the first figure skater from the UAE to compete in an international competition. Fatima Al Marzooqi / The National
  • Ms Lari at a training session in 2015. Ravindranath K / The National
    Ms Lari at a training session in 2015. Ravindranath K / The National
  • She became the first international competitive Emirati figure skater in 2014, competing at the Dubai Golden Cup. Jeffrey E Biteng / The National
    She became the first international competitive Emirati figure skater in 2014, competing at the Dubai Golden Cup. Jeffrey E Biteng / The National
  • The world’s first figure skater to compete in a hijab, she was also the UAE’s first figure skater to compete in qualification events for the Winter Olympics in 2018. Ravindranath K / The National
    The world’s first figure skater to compete in a hijab, she was also the UAE’s first figure skater to compete in qualification events for the Winter Olympics in 2018. Ravindranath K / The National
  • Thanks to Ms Lari, the UAE became the first Arab state to join the International Skating Union. Silvia Razgova / The National
    Thanks to Ms Lari, the UAE became the first Arab state to join the International Skating Union. Silvia Razgova / The National
'Nope'
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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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The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

Ovo's tips to find extra heat
  • Open your curtains when it’s sunny 
  • Keep your oven open after cooking  
  • Have a cuddle with pets and loved ones to help stay cosy 
  • Eat ginger but avoid chilli as it makes you sweat 
  • Put on extra layers  
  • Do a few star jumps  
  • Avoid alcohol   
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Updated: February 28, 2023, 3:55 AM