Close to 900 students at Khalifa University graduate in virtual ceremony

Khalifa University held a virtual graduation ceremony for 885 students on Wednesday.

Dressed in gowns and caps, students came up on screen with their scrolls in hand to mark the end of their courses.

The ceremony was streamed live on the university's YouTube channel.

During the online event, 666 students were awarded their bachelor’s degrees in applied mathematics and statistics and various other disciplines of engineering.

Another 168 students received their master's degrees in applied chemistry and various branches of engineering.

Another 51 students were awarded PhDs in nuclear and robotic engineering.

“Our virtual graduation ceremony comes at an exceptional time when the entire world today is going through hardships," said Arif Al Hammadi, executive vice president of Khalifa University.

“Our students, graduates and faculty have shown exemplary persistence and determination in these times," he said.

“We are on the threshold of entering the next 50 years of our young nation’s life.

“We are honoured that Khalifa University through its advanced research and innovative solutions is firmly a part of this success story and the distinction the country has achieved in various fields including the science and research sectors.”

Mr Al Hammadi said some graduates were part of the team that worked on the Emirates Mars Mission’s Hope Probe.

The university is one of the region's best. This year one of its departments was ranked among the top 25 in the world.

The petroleum engineering department at Khalifa University was rated 21 worldwide, a jump from 28, in the QS World University Rankings by Subject 2021.

The best UAE universities - in pictures

United Arab Emirates University in Al Ain has a strong standing in research and offers one of the country's main medicine degrees. Randi Sokoloff / The National
Khalifa University has rapidly climbed the global rankings in recent years but was knocked off the UAE top spot this year by UAEU. It boasts a nuclear engineering school staffed by top nuclear scientists, many of them from South Korea. Chris Whiteoak / The National
With its its striking architecture, American University of Sharjah offers about two dozen major degrees including humanities, engineering and business to about 5,000 students. It often scores strongly in global rankings and is particularly popular with Arab expat students. Alamy Photo
University of Sharjah was established in 1997 and is one of the country's largest, with about 14,000 students enroled. It also has campuses in the town of Dhaid and in Kalba, in Sharjah's east coast enclave. Wikicommons

Millennials step up campaign against plastic

Plastic associations point to recycling and consumer behaviour for pollution

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

The biog

Name: Capt Shadia Khasif

Position: Head of the Criminal Registration Department at Hatta police

Family: Five sons and three daughters

The first female investigator in Hatta.

Role Model: Father

She believes that there is a solution to every problem

• Remittance charges will be tackled by blockchain

• UAE's monumental and risky Mars Mission to inspire future generations, says minister

• Could the UAE drive India's economy?

• News has a bright future and the UAE is at the heart of it

• Architecture is over - here's cybertecture

• The National announces Future of News journalism competition

• Round up: Experts share their visions of the world to come

Bharat

Director: Ali Abbas Zafar

Starring: Salman Khan, Katrina Kaif, Sunil Grover

Rating: 2.5 out of 5 stars

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.”

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.