A British education board that grades thousands of high school pupils across the UAE has cancelled all summer exams.
Cambridge International confirmed that its iGCSEs and A-Level exams will not go ahead in the Emirates in June.
Instead, pupils will be graded by teachers, based on their coursework.
The board said the decision was taken after talks with the UAE's Ministry of Education and due to the risks caused by the Covid-19 pandemic.
It followed an announcement last week from the ministry that "alternative assessment methods" were being offered to international schools.
We will work with schools to ensure students entered for the June 2021 exam series can still receive grades using teacher assessment
"Following a directive from the Ministry of Education in the UAE, cancelling all international exams, we will work with schools to ensure students entered for the June 2021 exam series can still receive grades using teacher assessment," the exam board said in a statement to The National.
The decision provides clarity for headteachers across the country.
Some British curriculum schools in Dubai and Abu Dhabi had worked under the assumption that summer exams could still go ahead, even after they were cancelled in England.
In an update last month, Cambridge, which grades schools in 160 countries, said it "continued to plan for exams to go ahead in June 2021 where it is permitted and safe".
In January, another major exam board, Oxford AQA, told all of the schools it grades in the UK and abroad that exams were off.
That caused complications – given that some private schools in UAE are graded by two boards.
Pupils can find themselves sitting a maths exam that will be marked by Cambridge International and a history exam to be marked by Oxford AQA.
If Cambridge-graded exams had gone ahead, some pupils faced sitting exams for some subjects and having their coursework being graded by teachers for others – and having a mix to submit to universities at the end.
Exam boards and universities have insisted that pupils can secure a 2021 place in higher education.
In a statement on the Ministry of Education website last week, officials said they were making alternate provisions for summer 2021 exams.
"The Ministry of Education has decided to provide alternative assessment methods for international examinations for students of private schools that apply the British curriculum and the International Baccalaureate curriculum for the academic year 2020-2021," it said.
"The ministry affirmed that this step reflects the confidence in private international schools to prepare or adopt solid evaluation methodologies that benefit from their long experience in evaluation procedures, approved in their parent systems, and to build on them in light of changing circumstances or capabilities available to them."
International exam boards face a complex situation, with different rules in many of the markets they operate in.
Last week, Cambridge said the exams that it grades in private schools in Pakistan will go ahead in May, with the approval of the government.
“We are planning to run exams in most of the 160 countries we work in, it added.
"We have put a range of extra measures in place to support schools and students, including adjustments to aspects of assessments, and exemptions from components that are difficult to run during the pandemic."
How will teacher assessed grades work?
According to the UK's Department of Education, teachers will be able to draw on a range of evidence when determining grades, including the optional use of questions provided by exam boards, as well as mock exams, coursework or other work completed as part of a pupil’s course, such as essays or in-class tests.
Pupils will be able to use these grades to apply for entry to universities. They will also be able to appeal their grades as usual.
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Who has won what so far in the West Asia Premiership season?
Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain
Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons
West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins
UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles
West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles
West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles
Final West Asia Premiership standings - 1. Jebel Ali Dragons; 2. Abu Dhabi Harlequins; 3. Bahrain; 4. Dubai Exiles; 5. Dubai Hurricanes; 6. DSC Eagles; 7. Abu Dhabi Saracens
Fixture (UAE Premiership final) - Friday, April 13, Al Ain – Dubai Exiles v Abu Dhabi Harlequins
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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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It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were experimenting with sticky tape and graphite, the material used as lead in pencils.
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