Students at the Brighton College in Abu Dhabi, which opened in September 2011, is one of 37 British schools in the UAE capital that face changing their curriculum next year to match the new curriculum being introduced in the UK next year. Silvia Razgova / The National
Students at the Brighton College in Abu Dhabi, which opened in September 2011, is one of 37 British schools in the UAE capital that face changing their curriculum next year to match the new curriculum being introduced in the UK next year. Silvia Razgova / The National
Students at the Brighton College in Abu Dhabi, which opened in September 2011, is one of 37 British schools in the UAE capital that face changing their curriculum next year to match the new curriculum being introduced in the UK next year. Silvia Razgova / The National
Students at the Brighton College in Abu Dhabi, which opened in September 2011, is one of 37 British schools in the UAE capital that face changing their curriculum next year to match the new curriculum

Abu Dhabi's British schools will not be asked to follow new curriculum at once


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ABU DHABI // The capital’s British schools will not be required to follow a new curriculum being introduced in England until it is more widely established.

“All English curriculum schools will continue applying the old curriculum standards without disruption and they will be helped by our improvement team to apply the old national curriculum standards,” said a spokesman for Abu Dhabi Education Council.

The new curriculum for primary and secondary schools in England will be launched in September 2014. It will have a phased implementation with some pupils at state-run schools remaining on the old curriculum until the summer of 2015 while revisions are made to key stage tests or Sats.

The new curriculum will place greater emphasis on skills such as essay writing, problem solving, mathematical modelling and computer programming.

“When the new curriculum is applied at schools in the UK, Adec’s school improvement and licensing and accreditation teams will monitor its implementation before requesting any changes in Abu Dhabi schools,” said Adec.

“We will have selected schools monitor the implementation of the new curriculum and then plan for a smooth transition when the new curriculum is applied on a larger scale in the UK,” said the spokesman.

According to Adec’s 2012-2013 figures there are 37 British schools in Abu Dhabi.

The Knowledge and Human Development Authority in Dubai has said whether to implement the new curriculum would be up to individual schools.

The new curriculum, described by the British prime minister David Cameron as a “revolution in education”, will require children aged five to learn basic fractions while nine-year-olds will be expected to know their 12-times tables.

It has been attacked by the Association of Teachers and Lecturers union in the UK, which claims it will not “foster a passion for learning” and that its content is not age appropriate.

The union also described the timetable for its implementation as “completely unrealistic”.

wissa@thenational.ae

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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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Ashraf Ghani 50.64 per cent

Abdullah Abdullah 39.52 per cent

Gulbuddin Hekmatyar 3.85 per cent

Rahmatullah Nabil 1.8 per cent

Another way to earn air miles

In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.

An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.

“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.

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Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster