DUBAI // There are very few words Deepak Satheesan doesn’t know how to spell, and “champion” certainly isn’t one of them.
The teenager from Abu Dhabi Indian School battled through 12 gruelling rounds and defeated 2,300 other competitors to win the Danube Spelling Bee Championship.
It was the first time in the competition’s three-year run that a Dubai student has not taken the trophy home.
“I’m in heaven right now,” said Deepak, 13, who won Dh32,500 in cash. His parents plan to save the money for his education.
Parents and teachers of 79 youngsters competing in the finals of the championship in a Dubai hotel on Saturday night sat nervously listening to the children spelling out strange words.
This was Deepak’s first time competing and though he did not expect to win he did feel that he deserved his victory.
“No one told me to participate, it was my idea. I was training myself the whole time, my parents encouraged me to practise.”
“Now we have higher expectations for him, he will have to do better in his education, no time to slack off,” said his mother, Suchithra.
The words the contestants had to spell included visceroptosis, sphygmomanometer, pusillanimous and shepherd.
The winner scooped Dh25,000, with Dh15,000 for second place and Dh10,000 for third.
As a bonus, Deepak and his family will receive an all-expenses paid trip to Washington DC where he will attend the Scripps National Spelling Bee finals.
The top 10, as well as the Zone Champions, were awarded prizes such as iPads, iPhones, BlackBerrys, laptops, LCD TVs, cameras and other electronics.
“I found some on the words were difficult for me. But my son didn’t have any problems, they were easy for him, even though he is only in the sixth grade” said Raja Gopal, whose son Chetan made it through to the fifth round of the finals before faltering on Philomath.
Students were given a list of 4,500 English words, sent from the US, to study for the competition, but in the final round they were asked to spell words not on the list.
“It was easy until we got to the out-of-list rounds,” said Chetan, 11, who attends Cambridge International school in Dubai.
“This was my first time competing, I really didn’t expect to get this far.”
Chetan’s mother saw that he had a talent with words and helped him practise for the competition.
“I didn’t know I was good at spelling. I learnt them by writing them down three times and learning the origins,” said Chetan, who dreams of being an astronomer when he grows up.
“Parents are very involved with grooming the competitors, much more so than the teachers,” said Renuka Singh, managing director of Exquity Events, the organiser of the competition.
“I’m very impressed with the participants this year, they have a very high standard and are learning all the techniques to spelling, not just memory any more.”
Preparations now begin for next year’s competition.
“We have to have the list to send to the students so that they can study over summer. The first round of the competition will start again in October,” said Ms Singh.
“The most important thing is that they should not get discouraged. Many of the champions in the US had to try two to four times before they won.”
“This competition is a tremendous confidence builder. It expands their language skills and helps them prepare for college entrance exams that some of them are about to take. The power of language is a very strong tool.”
malkhan@thenational.ae
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What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
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.”
FIRST TEST SCORES
England 458
South Africa 361 & 119 (36.4 overs)
England won by 211 runs and lead series 1-0
Player of the match: Moeen Ali (England)
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UAE currency: the story behind the money in your pockets
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
MATCH INFO
Everton 2 Southampton 1
Everton: Walcott (15'), Richarlison (31' )
Southampton: Ings (54')
Man of the match: Theo Walcott (Everton)
FIXTURES
Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)
Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)
Friday, February 1
Final, Zayed Sports City Stadium (6pm)