DUBAI // High performing students are being given the chance to study for the GCC’s first masters degree in biomedical engineering free of charge.
The American University of Sharjah (AUS) will launch its master of science in biomedical engineering (MSBME) degree in August. At the moment there are six scholarships places available which will pay students tuition fees paid as well as offer financial help towards living costs.
“The MSBME programme will provide an opportunity to conduct advanced biomedical engineering research to support efforts in combating the region’s healthcare challenges, including serious and prevalent diseases such as diabetes, cardiovascular disease, chronic obstructive pulmonary disease, cancer, perinatal and genetic diseases,” said Hasan Al Nashash, the university’s programme MSBME director.
“This degree is relevant for the healthcare industry so can apply to hospitals, labs, clinics, health authorities and academic research.”
Mr Al Nashash said the course is multi-disciplinary and open to undergraduates with engineering, bio-mechanics, computer, electrical, medicine, industrial and chemical backgrounds.
The scholarship is for full-time students of any nationality including those from abroad.
The MSBME is being offered by the College of Engineering (CEN) and will prepare students for advanced careers and doctoral studies related to biomedical engineering.
“Recent developments in the Middle East and North Africa and specifically in GCC countries, have increased the need for biomedical engineers,” said Björn Kjerfve, AUS chancellor.
“The tremendous rate of population growth in the MENA region is accompanied by a concurrent demand for and growth in healthcare services, such as hospitals, clinics, medical colleges, medical technology suppliers and biomedical engineering, which is reported to be one of the fastest growing engineering discipline worldwide.
“The launch of the MSBME programme is aligned with our mandate to become a top research university as we continue to produce highly qualified graduates who will support and sustain the growing industrial and economic demands and development of the country.”
The MSBME curriculum is based on stringent standards followed in the United States and has core courses in mathematics, anatomy and physiology.
There are also further elective courses in several biomedical engineering sub-disciplines. These include healthcare operations management, planning and risk management, biomedical informatics, instrumentation, signal processing, biomaterials, drug delivery and biomechanics.
This further area of study aims to improve the technical skills of all biomedical engineers, said Mr Al Nashash.
For more information about the scholarship, visit www.aus.edu
nhanif@thenational.ae
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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.”
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The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
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Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
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UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
