University leaders said a move to allow international students to sponsor their families for the duration of their studies would prompt a rise in enrolments in the UAE.
On Sunday, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said foreign students would be permitted to bring relatives to the country with them "whenever they have the financial means" to do so.
The UAE Cabinet directive is set to encourage more learners to make the Emirates their chosen destination for undergraduate and postgraduate courses – and give them the incentive to lay down roots in the country long after they finish their academic journey.
Higher education chiefs said the decision would help students plan their futures.
I expect to see a lot of students from North Africa, Egypt, Morocco and South Asia bringing their families
Professor Ammar Kaka, provost of Heriot-Watt University Dubai, said families coming in would seek employment, possibly invest in property and stimulate economic growth, which would be critical for post-pandemic recovery.
“This move will encourage more and more foreign students to come here to study in the UAE,” Professor Kaka said.
“Students and their families can now plan a long-term future here in the UAE and one that goes beyond just the duration of their study.”
Heriot-Watt University Dubai has about 4,000 students with 105 nationalities represented, with many from Africa or the Middle East.
The decision to allow foreign students to sponsor families is the latest in a series of measures aimed at increasing international enrolment in the UAE.
In November, the Emirates expanded its 10-year golden visa system to high-achieving pupils and students leaving universities with a grade point average of at least 3.8.
Last month, UAE universities joined forces with education authorities to develop online degrees to help attract prospective students from around the globe. But education chiefs believe more work must be done.
Lower fees and more scholarships key to boosting UAE’s university population
“To attract more students, universities can create more part-time work opportunities, offer more scholarships and offer courses catering to the jobs of the future,” Professor Kaka said.
He said affordable and purpose-built student accommodation would make studying in the UAE more attractive for families.
Soraya Beheshti, the regional director for Crimson Education, a global education consultancy, said offering more scholarships was important for attracting talent.
“The universities here are are quite expensive and students pay the same fees as at the top-ranked universities in the world,” Ms Beheshti said.
“If universities lowered fees that would be immensely helpful but whether universities can do that, I don’t know.”
At American University in Dubai, undergraduates pay an average of Dh45,000 ($12,250) per semester.
She said the UAE would attract an influx from regions from where migration to the country was desirable.
“I expect to see a lot of students from North Africa, Egypt, Morocco and South Asia bringing their families,” she said.
“There is interest in migrating to the UAE, so this will hopefully bring a lot of students here.”
Ms Beheshti said students are economy boosters because they dine out often, participate in social life and are good consumers.
“While the rest of the world is tightening restrictions and closing borders the UAE has taken a step towards opening up even more,” she said.
“A lot of people have left the UAE so there is a need to inject the community with fresh blood.”
American University in Dubai has about 2,000 students, many of whom have travelled from South Korea, South Africa and the US.
UAE an attractive option for overseas students in Covid-19 age
Dr David Schmidt, president of the university, said the pandemic would make families rethink sending their children to the UK or US for higher studies.
Coupled with this, the proactive way Covid-19 was handled in the UAE, and the scale of its vaccine programme, would help.
“UAE would look like a safe haven which can provide a world quality education,” said Dr Schmidt.
“I worked in the United States for 25 years, and I think parents would now hesitate to send their children to New York or California, but I do not think they will hesitate to send them to Dubai.”
Dubai had close to 30,000 international students at institutions licensed by the Knowledge and Human Development Authority in 2019.
Dr Vajahat Hussain, chief executive of Amity Education Middle East, said the new policy would be effective only if framed correctly.
Amity University Dubai has 2,000 students, of whom 800 applied from abroad.
He said students should have the flexibility to secure the visa for the duration of the course, so they would not have to obtain an annual renewal.
“If framed correctly it can be a catalyst and as economy booster,” Dr Hussain said.
“If people feel they can come here, settle and create homes for their children, they will inject money in the economy.”
Tuition fees in the Emirates can be prohibitive for many families, and some education experts called for more scholarships or reductions to tuition costs. But Dr Hussain said cutting fees was not an option.
“The quality of higher education depends on the quality of faculty at the university. If the quality of faculty need to be given salaries in line with the market, there is no way the fee can be reduced,” he said.
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.”
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
Roll%20of%20Honour%2C%20men%E2%80%99s%20domestic%20rugby%20season
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Gulf Under 19s final
Dubai College A 50-12 Dubai College B
TO%20CATCH%20A%20KILLER
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Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
The specs: 2018 Jeep Compass
Price, base: Dh100,000 (estimate)
Engine: 2.4L four-cylinder
Transmission: Nine-speed automatic
Power: 184bhp at 6,400rpm
Torque: 237Nm at 3,900rpm
Fuel economy, combined: 9.4L / 100km
THE%20HOLDOVERS
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Napoleon
%3Cp%3E%3Cstrong%3EDirector%3C%2Fstrong%3E%3A%20Ridley%20Scott%3Cbr%3E%3Cstrong%3EStars%3C%2Fstrong%3E%3A%20Joaquin%20Phoenix%2C%20Vanessa%20Kirby%2C%20Tahar%20Rahim%3Cbr%3E%3Cstrong%3ERating%3C%2Fstrong%3E%3A%202%2F5%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2)
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Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Scoreline
Saudi Arabia 1-0 Japan
Saudi Arabia Al Muwallad 63’
Tuesday results:
- Singapore bt Malaysia by 29 runs
- UAE bt Oman by 13 runs
- Hong Kong bt Nepal by 3 wickets
Final:
Thursday, UAE v Hong Kong
Company%20profile
%3Cp%3EDate%20started%3A%20January%202022%3Cbr%3EFounders%3A%20Omar%20Abu%20Innab%2C%20Silvia%20Eldawi%2C%20Walid%20Shihabi%3Cbr%3EBased%3A%20Dubai%3Cbr%3ESector%3A%20PropTech%20%2F%20investment%3Cbr%3EEmployees%3A%2040%3Cbr%3EStage%3A%20Seed%3Cbr%3EInvestors%3A%20Multiple%3C%2Fp%3E%0A
Match info:
Burnley 0
Manchester United 2
Lukaku (22', 44')
Red card: Marcus Rashford (Man United)
Man of the match: Romelu Lukaku (Manchester United)
The Freedom Artist
By Ben Okri (Head of Zeus)
BABYLON
%3Cp%3EDirector%3A%20Damien%20Chazelle%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Brad%20Pitt%2C%20Margot%20Robbie%2C%20Jean%20Smart%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
The biog
DOB: March 13, 1987
Place of birth: Jeddah, Saudi Arabia but lived in Virginia in the US and raised in Lebanon
School: ACS in Lebanon
University: BSA in Graphic Design at the American University of Beirut
MSA in Design Entrepreneurship at the School of Visual Arts in New York City
Nationality: Lebanese
Status: Single
Favourite thing to do: I really enjoy cycling, I was a participant in Cycling for Gaza for the second time this year
'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
Zayed Sustainability Prize
Barbie
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Read more about the coronavirus
RESULTS
Main card
Bantamweight 56.4kg: Mehdi Eljamari (MAR) beat Abrorbek Madiminbekov (UZB), Split points decision
Super heavyweight 94 kg: Adnan Mohammad (IRN) beat Mohammed Ajaraam (MAR), Split points decision
Lightweight 60kg: Zakaria Eljamari (UAE) beat Faridoon Alik Zai (AFG), RSC round 3
Light heavyweight 81.4kg: Taha Marrouni (MAR) beat Mahmood Amin (EGY), Unanimous points decision
Light welterweight 64.5kg: Siyovush Gulmamadov (TJK) beat Nouredine Samir (UAE), Unanimous points decision
Light heavyweight 81.4kg: Ilyass Habibali (UAE) beat Haroun Baka (ALG), KO second round
Story%20behind%20the%20UAE%20flag
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What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
The specs
Engine: 6.2-litre V8
Transmission: ten-speed
Power: 420bhp
Torque: 624Nm
Price: Dh325,125
On sale: Now