When American University of Sharjah opened on October 4, 1997, the campus was surrounded by nothing but desert.
Founded by Dr Sheikh Sultan bin Mohammed Al Qasimi, Ruler of Sharjah, construction works for the new university were finished in just 11 months.
A grainy black and white photograph from the 1990s shows the scale of the endeavour, with the main auditorium and surrounding buildings edging to completion against this isolated backdrop.
On that historic day in 1997, just 285 students arrived for their first classes and were taught by 30 faculty members.
Twenty years on, the AUS campus has become a modern complex of buildings including a performing arts theatre. It now caters for more than 5,800 students and 370 staff.
Among those 30 pioneering faculty members was Osamah AlKhazali. A professor of finance at AUS, he arrived from the US where he had received his doctorate.
“To be honest, I thought ‘oh my gosh what did I do’,” he says of the decision to come from the US to Sharjah in 1997.
“I had a good job in the US and then I moved to the middle of the desert. It was an unusual experience because the school was not completed. We had to start from the beginning. But I made the right decision.”
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Prof AlKhazali, who is originally from Jordan, recalls a time when the closest supermarket was ten kilometres away and students, staff and faculty used a daily bus service to get there and back.
“Around 6pm the bus took us. We did our shopping and came back. It was called Fine Fair but it’s not there anymore. There were roads on campus but the roads to get on campus were not completed.”
Over those first few days and months, a pioneering spirit swiftly developed across the campus. It was a tight-knit community and a feeling of being among family was widespread.
“The faculty came from all over the world. They did not know each other and all of us were in one building,” said Prof AlKhazali.
“But despite that, we all felt like a family. The relationship among the faculty and students was amazing. These are the things that I miss and remember the most because the school is so much bigger now.”
AUS offers an American-accredited education and was recently named among the world’s top 60 institutions under 50 years old by Quacquarelli Symonds. It was ranked in the 601 to 800 band of universities worldwide and at number 14 in the “Best universities in the Arab World 2017” by the Times Higher Education ranking survey.
The student body is multi-cultural. About 17 per cent are Emirati with the rest coming from Egypt, Jordan, India, Syria, Pakistan, Palestine and more from across the GCC and world. It has 25 sports teams, 86 student clubs, while 440 students have participated in community service programmes.
On Wednesday, AUS marked the start of its 20th anniversary celebrations with a special event at its campus including a commemorative film; an address from prominent past pupil Aisha Miran, now assistant Secretary General for the Executive Council, Dubai government; and a parade of nations from its diverse student body.
When I ask the chancellor of AUS, Dr Björn Kjerfve, about the role the university has played since its establishment in 1997, he says AUS has supported Sharjah in its growth to become the capital in the Arab world in terms of culture and education.
“The world has changed enormously since 1997 – any such country without a university would have been left behind in the dust,” he said.
“If you didn’t have a university, you’d have a difficult time becoming a centre of culture. That’s not the case here, we have a university.”
When asked about AUS’s relationship with the emirate, he says it’s excellent but it can get better. Dr Kjerfve, who is originally from Sweden, regularly goes on trips with economic delegations from Sharjah to promote the emirate and education is central to that. “With the leadership we have in Sharjah, we are all looking at how we can hook onto each other.”
An oceanographer by trade, Dr Kjerfve’s tenure began in 2014 and plans to transform AUS into a research university are under way. He believes AUS is the best university in the country.
“Best can be measured in many different ways. I hold that if you ask hundreds of companies around the GCC which university graduates the best employees – the answer would uniformly be AUS. We only consider merit in all the decisions we make.
“We are a teaching centric, excellent university and are now going to become a research university on top of that. That’s going to be a remarkable transformation – certainly a first for the GCC and one of the few places in the Arab world where that is happening.”
AUS is planning a series of events throughout the remainder of the year to commemorate its anniversary and to honour the accomplishments of staff, faculty, students and alumni.
COMPANY PROFILE
Founders: Sebastian Stefan, Sebastian Morar and Claudia Pacurar
Based: Dubai, UAE
Founded: 2014
Number of employees: 36
Sector: Logistics
Raised: $2.5 million
Investors: DP World, Prime Venture Partners and family offices in Saudi Arabia and the UAE
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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.”
THE SPECS
Engine: six-litre W12 twin-turbo
Transmission: eight-speed dual clutch auto
Power: 626bhp
Torque: 900Nm
Price: Dh940,160 (plus VAT)
On sale: Q1 2020
TRAINING FOR TOKYO
A typical week's training for Sebastian, who is competing at the ITU Abu Dhabi World Triathlon on March 8-9:
- Four swim sessions (14km)
- Three bike sessions (200km)
- Four run sessions (45km)
- Two strength and conditioning session (two hours)
- One session therapy session at DISC Dubai
- Two-three hours of stretching and self-maintenance of the body
ITU Abu Dhabi World Triathlon
For more information go to www.abudhabi.triathlon.org.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
RESULT
Bayern Munich 5 Eintrracht Frankfurt 2
Bayern: Goretzka (17'), Müller (41'), Lewandowski (46'), Davies (61'), Hinteregger (74' og)
Frankfurt: Hinteregger (52', 55')
Sheer grandeur
The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.
A clear distinction between the residences and the Raffles hotel with the amenities operated separately.
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
LIVERPOOL%20TOP%20SCORERS
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
US tops drug cost charts
The study of 13 essential drugs showed costs in the United States were about 300 per cent higher than the global average, followed by Germany at 126 per cent and 122 per cent in the UAE.
Thailand, Kenya and Malaysia were rated as nations with the lowest costs, about 90 per cent cheaper.
In the case of insulin, diabetic patients in the US paid five and a half times the global average, while in the UAE the costs are about 50 per cent higher than the median price of branded and generic drugs.
Some of the costliest drugs worldwide include Lipitor for high cholesterol.
The study’s price index placed the US at an exorbitant 2,170 per cent higher for Lipitor than the average global price and the UAE at the eighth spot globally with costs 252 per cent higher.
High blood pressure medication Zestril was also more than 2,680 per cent higher in the US and the UAE price was 187 per cent higher than the global price.
CREW
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The story in numbers
18
This is how many recognised sects Lebanon is home to, along with about four million citizens
450,000
More than this many Palestinian refugees are registered with UNRWA in Lebanon, with about 45 per cent of them living in the country’s 12 refugee camps
1.5 million
There are just under 1 million Syrian refugees registered with the UN, although the government puts the figure upwards of 1.5m
73
The percentage of stateless people in Lebanon, who are not of Palestinian origin, born to a Lebanese mother, according to a 2012-2013 study by human rights organisation Frontiers Ruwad Association
18,000
The number of marriages recorded between Lebanese women and foreigners between the years 1995 and 2008, according to a 2009 study backed by the UN Development Programme
77,400
The number of people believed to be affected by the current nationality law, according to the 2009 UN study
4,926
This is how many Lebanese-Palestinian households there were in Lebanon in 2016, according to a census by the Lebanese-Palestinian dialogue committee
The biog
Family: Parents and four sisters
Education: Bachelor’s degree in business management and marketing at American University of Sharjah
A self-confessed foodie, she enjoys trying out new cuisines, her current favourite is the poke superfood bowls
Likes reading: autobiographies and fiction
Favourite holiday destination: Italy
Posts information about challenges, events, runs in other emirates on the group's Instagram account @Anagowrunning
Has created a database of Emirati and GCC sportspeople on Instagram @abeermk, highlight: Athletes
Apart from training, also talks to women about nutrition, healthy lifestyle, diabetes, cholesterol, blood pressure
The specs
Engine: Turbocharged four-cylinder 2.7-litre
Power: 325hp
Torque: 500Nm
Transmission: 10-speed automatic
Price: From Dh189,700
On sale: now
The specs: 2018 Maxus T60
Price, base / as tested: Dh48,000
Engine: 2.4-litre four-cylinder
Power: 136hp @ 1,600rpm
Torque: 360Nm @ 1,600 rpm
Transmission: Five-speed manual
Fuel consumption, combined: 9.1L / 100km