AL AIN // UAE University will admit non-Emirati undergraduate students for the first time since it was founded in 1976.
The move by the country’s first university has been welcomed by experts, who said diversity would be good for the institution – which was placed in the top 50 universities in the Times Higher Education rankings since 2013 – and its students.
Prof Mohamed Albaili, provost of the university, said there were many advantages to the change.
“The academic experience of UAEU national students can be greatly enhanced by interaction with international students,” he said.
“They bring with them an international perspective, diversity of ideas and experience, which fuel innovation. In addition, there are very clear pedagogical benefits to having international students in the classroom.
“Their presence enriches class discussions, since the students share their experiences and stories from a different culture. It can also help remove stereotypes.”
With expatriate students paying for four-year degrees costing from Dh288,000 for a humanities degree to Dh441,000 for an engineering degree – on par with the likes of the American University of Sharjah – the extra income will benefit the university, which like other institutions struggle to compete for limited research funding.
“The income will support the university’s budget to be able to fund the development of new programmes, labs, and libraries,” said Prof Albaili. He hoped integration of the new students will run smoothly. The university has taken steps to arrange briefings, and set up specialist advisers, orientation and activities to ensure that the process runs smoothly.
Dr Senthil Nathan, director and co-founder of Edu Alliance, an education consultancy in Abu Dhabi, lauded the changes.
“Enrolling international students would bring a new dimension of competition to the student population, help expand UAEU’s footprint across the region and may serve as another measure for its growing reputation for quality,” said Dr Nathan.
He said it was important to prioritise the Emirati students whom the university was founded to serve.
“Given the mandate of UAEU to serve Emirati students primarily, it is important to keep the international enrolment small but enough so that this does not adversely impact its mandate to educate the Emirati students,” he said.
Prof Tod Laursen, president of Khalifa University, agreed with Dr Nathan.
His university is public, run by Abu Dhabi Education Council but not the federal government, and accepts non-Emiratis.
“Having international students in the classroom has a huge effect on classroom experience and the quality of education all students receive,” he said.
UAEU is not the first federal university to take such a step. In 2010 Zayed University became the first federal university to admit international students, although their numbers are still small, at 334 out of 8,800 students.
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The Freedom Artist
By Ben Okri (Head of Zeus)
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Mr Kandhari is legally authorised to conduct marriages in the gurdwara
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Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
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More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
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Cryptojacking: Compromises a device or network to mine cryptocurrencies without an organisation's knowledge.
Distributed denial-of-service: Floods systems, servers or networks with information, effectively blocking them.
Man-in-the-middle attack: Intercepts two-way communication to obtain information, spy on participants or alter the outcome.
Malware: Installs itself in a network when a user clicks on a compromised link or email attachment.
Phishing: Aims to secure personal information, such as passwords and credit card numbers.
Ransomware: Encrypts user data, denying access and demands a payment to decrypt it.
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Trojans: Create a backdoor into systems, which becomes a point of entry for an attack.
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Worms: Send copies of themselves to other users or contacts. They don't attack the system, but they overload it.
Zero-day exploit: Exploits a vulnerability in software before a fix is found.
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.”
Match info
UAE v Bolivia, Friday, 6.25pm, Maktoum bin Rashid Stadium, Dubai
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While Huawei did launch the first smartphone with a 50MP image sensor in its P40 series in 2020, Oppo in 2014 introduced the Find 7, which was capable of taking 50MP images: this was done using a combination of a 13MP sensor and software that resulted in shots seemingly taken from a 50MP camera.
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