Ras al Khaimah - August 27, 2010 - Prospective students walk back to the academic building during Open Day for at the University of Bolton in Ras al Khaimah, August 27, 2010. (Photo by Jeff Topping/The National)
Ras al Khaimah - August 27, 2010 - Prospective students walk back to the academic building during Open Day for at the University of Bolton in Ras al Khaimah, August 27, 2010. (Photo by Jeff Topping/ThShow more

RAK to improve education image



RAS AL KHAIMAH // A council has been set up to oversee and regulate the emirate's colleges and universities.

The council, established by order of Sheikh Saud bin Saqr, Ruler of Ras Al Khaimah, has been welcomed by academics, many of whom feel they are being tarred by low standards at some of the emirate's universities.

Tertiary institutions in RAK do not need to meet any quality standards, leading to claims of several institutions relocating there after failing inspections in Dubai.

That has hurt its reputation, making it even harder to attract students away from the draw of big city life in Dubai and its 53 universities.

The council will consist of academics working in the emirate and will have the power to expel underperforming institutions, said the head of the free zone, Oussama El Omari.

"The concern is that institutions which were not qualified had thought they could come here," Mr El Omari said. "But we have some great institutions such as the University of Bolton and the American University of RAK."

The council would regulate teaching staff and curriculums, hopefully reassuring fee-paying students and parents.

Dr Natasha Ridge, the head of the Sheikh Saud Bin Saqr Al Qasimi Foundation for Policy Research in RAK, said it would protect students from poor institutions and malpractice.

"If the education council goes ahead it will be very good, but there needs to be more oversight, especially in the free zone," Dr Ridge said.

There are nine universities and colleges in the RAK free trade zone and three others with Ministry of Higher Education accreditation.

In June, the University of Bolton, a branch of the British university that opened in 2008, had its engineering degrees approved by a panel of two academics from the home campus and two independent British academics.

Its campus director, Dr Zubair Hanslot, said he was concerned many universities in RAK lacked similar oversight.

"We do things the same as British universities, which have good governance and aren't allowed to do things without going through the due process of approvals from the home campus," Dr Hanslot said.

He said the issue of RAK becoming a home for those institutions refused by Dubai because they failed to meet the standards of their home campuses had been raised at several meetings with the emirate's ruling authorities.

Dr Hanslot said he had been assured those institutions would now face greater scrutiny.

At Dh25,000 a year, Bolton's fees are about Dh10,000 lower than similar institutions in Dubai, but it still struggles to attract students and convince employers of the value of a RAK education.

"Employers we speak to still see RAK as some sort of backwater, where the education isn't as good quality," said Dr Hanslot. "That's not the case."

Mr El Omari said better universities would help the local economy.

"The graduates from the Vatel school of tourism, for example, are now going to the local hotels so it's important to upgrade the standards of service by providing that education," he said.

"We can't just keep bringing investments without having enough variations of universities here to really support these industries."

The proposed council would include academics from all of the major institutions, such as Bolton and the RAK Medical and Health Sciences University, similar to the regulatory system in Dubai, said Dr Hanslot.

"It would give some confidence to students and parents, and would allow us to check on our standards. Any new player would have to be scrutinised," he said.

"If the committee gets this right, RAK could be a very attractive study destination without the distractions and high costs of Dubai."

In Dubai, the University Quality Assurance International Board's 10 members, from countries including New Zealand and the US, reviews the universities in the free zones and those wanting to establish in the emirate.

Licences are automatically granted to institutions with Ministry accreditation.

Dr Gurumadhva Rao, the vice chancellor of Ministry-certified RAK Medical and Health Sciences University, said the council would help sort the wheat from the chaff.

"Some of the foreign universities here are not reputable in their own countries," Dr Rao said. "There is so much variation in the educational quality."

This makes recruitment in RAK a challenge, he said, because the negative reputation sticks to all those beyond the unregulated free zone.

"There is no kind of control," Dr Rao said. "For everybody, it should be the same level playing field.

"If there were a good panel of experts who understood both education and the local environment, this would be a very good step."

If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
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What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

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In criminal cases, you can contact the police for additional support

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War

Director: Siddharth Anand

Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor

Rating: Two out of five stars 

ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

How to play the stock market recovery in 2021?

If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.

Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.

Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.

Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).

Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal. 

Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.

By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.

As demand for energy fell, the oil and gas industry had a tough year, too.

Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.

He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.” 

This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”

Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.

Our family matters legal consultant

 

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Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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