Pupils enjoy lunch at Amity International School in Al Bahia. Officials hope the school facilities will inspire pupils to become Olympic sailors, marine scientists or microbiologists. Mona Al Marzooqi / The National
Pupils enjoy lunch at Amity International School in Al Bahia. Officials hope the school facilities will inspire pupils to become Olympic sailors, marine scientists or microbiologists. Mona Al MarzooqiShow more

Big dreams for new school pupils



ABU DHABI // Parents of pupils in Abu Dhabi have proven willing to go the distance financially and geographically to ensure their children get a good education, the principal of a new Dh150 million school said.

The Amity International School is about an hour’s bus ride from the Corniche and costs up to Dh50,000 in fees, but neither has deterred parents from enrolling their children in the British curriculum facility.

Amity, one of 11 schools to have opened in the capital this year, sits on the edge of a canal between Al Bahia and Al Raha Beach.

Vajahat Hussain, chief executive of Amity Middle East, said the school’s address was “kind of far” but offered enhanced opportunities for learning.

“When we saw the location, we realised it’s away from Abu Dhabi, but then because of this canal we saw a great potential to deliver something unique,” said Mr Hussain.

To make the most of the location, school investors built a marine biology centre and a boat house on campus to offer students a sailing and marine biology programme.

The walls of the marine biology centre are covered with images of Arabian Gulf underwater life – the blacktip reef shark, orange spotted grouper, parrotfish.

“We want to teach them about conservation,” said Mr Hussain.

“We want to teach them about marine biology, about the ecosystem that they live in.

“What we think is, once we see these little children with water and boats, we will have microbiologists, we will have marine scientists, we will have Olympic sailors come out of the school in 10 years’ time. That’s the aspiration.”

School principal Barbara Lubaczewska, who had been an educator in Britain for 25 years before taking up this job, said the school’s distance from central Abu Dhabi had not been a deterrent to enrolment, with parents particularly attracted to the British curriculum on offer.

“Many of them will move from other curriculums to come to British,” said Mrs Lubaczewska.

“They believe that the British curriculum provides an excellent education, and that’s why they come, and we obviously agree.”

This year, the school is open for children from foundation stage one to year three, with class sizes capped at 20 pupils per teacher.

Next September, classrooms will be added to facilitate pupils up to year seven.

The current capacity is for about 1,000 pupils. After phase two is completed – when the Dh150 million secondary school is built, along with other facilities such as an Olympic-size swimming pool – the capacity will be raised to about 3,500, said Mr Hussain.

The school now offers a 600-seat auditorium, an indoor learners’ pool, a multilevel library, tennis courts, an indoor gymnasium and track and field facilities.

Annual tuition costs about Dh40,000 to Dh50,000, excluding uniforms and transportation. Annual transportation costs about Dh5,000.

Many of the pupils are neighbourhood children, including about 21 per cent who are Emiratis from Al Bahia.

Other pupils include children of staff at Etihad Airways, the headquarters of which is nearby, said Mr Hussain.

The school is the first kindergarten to Grade 12 school in the region for the Amity International Schools company, which is based in India.

It operates nurseries, schools and universities there, as well as universities in Europe, North America and Dubai.

rpennington@thenational.ae

Brief scores:

Toss: Sindhis, elected to field first

Kerala Knights 103-7 (10 ov)

Parnell 59 not out; Tambe 5-15

Sindhis 104-1 (7.4 ov)

Watson 50 not out, Devcich 49

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.”

Indoor cricket in a nutshell

Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full

Analysis

Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more

HAJJAN
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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

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Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Specs%20
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Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

 

 

COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine