Sheikha Fatima, Mother of the Nation, has praised the contribution of Emirati women and the progress of the UAE, which she says was achieved in record time.
In a speech delivered on her behalf by Sheikha Shamma bint Sultan at the Global Summit of Women held in Abu Dhabi, Sheikha Fatima praised UAE Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, who worked for women's empowerment from the beginning.
“From inception, there was a firm conviction of the late Sheikh Zayed bin Sultan Al Nahyan, may God rest his soul in peace, in the role of women in society,” read Sheikha Shamma, executive director of the UAE Independent Climate Change Accelerators.
“He was my companion and teacher. I accompanied him on his great journey, during which he accomplished in one generation what takes other nations … several generations. In 50 years, we achieved what takes centuries.”
Sheikha Fatima said the advancement of women continues in the UAE under the leadership of President Sheikh Mohamed and Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai.
“They worked on women's education, established schools and universities, and worked to empower women in various fields and sectors,” she said.
“Women in the UAE now occupy more than half of the workforce in the government sector, more than half in all stages of education, and they make up more than a third of the cabinet. Half of the members of the Federal National Council are women.”
They are judges, astronauts, ambassadors, doctors, engineers, pilots and decision-makers in security and peace, she said.
However, more needs to be done to bring about peace and support women globally.
“The main topics of this Global Summit of Women have been chosen very carefully because they are the major issues that concern humanity at this historical moment,” she said.
Peacekeeping between countries and social integration are important issues, she said.
“This is the real challenge facing human societies in all regions,” she said.
“With the spread of social media, societies have become vulnerable to the transmission of racism, sectarianism, social violence movements, protests, etc.
“Therefore, the world today needs new ideas. Work is being done to strengthen the fabric of societies and support networks of social relations in a way that achieves stability and happiness for humanity.
“Perhaps what you will see during your visit to the Emirates these days will be a ray of hope for humanity, as people of more than 200 nationalities live and coexist here.”
'Women's empowerment is the only way to ensure peace'
India's President Droupadi Murmu, who spoke in a recorded message at the event, said she believed that women's empowerment was the only way to ensure peace, social inclusion and prosperity in the world.
She said empowering women was one of the main focus areas of her presidency.
“I wished to attend the summit in person, but I was not able to travel to the UAE due to my other commitments,” she said.
“As the President of India, it is an honour for me to share with this gathering that India has always been at the forefront of promoting gender respect and democracy in society.
“Our history is full of examples of women taking leadership roles. In fact, the Indian scriptures have laid great stress on respect for women.
“In modern times, India was the first among major democracies in the world to grant universal adult franchise [the right to vote] to all its citizens, irrespective of their gender, race, or religion.
“In India, women have occupied all prominent positions, including the president, prime minister and speaker of parliament. In today’s India, women are acquiring the centre-stage of every discourse and decision-making to build a future-ready society.”
This year is very important for India and the UAE, as they host the G20 and Cop28.
“I am very happy that both countries are working together to make these global events successful,” Ms Murmu said.
“I am sure that Cop28 will take into account the critical role of women in environmental issues, especially in sustainable development. During our G20 presidency, we are working on the theme of One Earth, One Family, One Future.”
The Global Summit of Women 2023, a two-day event, is being held under the patronage of Sheikha Fatima, who is also the chairwoman of the General Women's Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation.
It features stateswomen, faith leaders, entrepreneurs, social activists, cultural personalities, media celebrities, and scholars from more than 100 countries.
Speakers and participants are addressing struggles faced by women today and seeking ways to build bridges of peace, inclusion, and prosperity between communities.
Powerful Emirati women - in pictures
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%203S%20Money%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202018%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20London%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ivan%20Zhiznevsky%2C%20Eugene%20Dugaev%20and%20Andrei%20Dikouchine%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%245.6%20million%20raised%20in%20total%3C%2Fp%3E%0A
Tank warfare
Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks.
“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.
“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”
MATCH INFO
Liverpool 2 (Van Dijk 18', 24')
Brighton 1 (Dunk 79')
Red card: Alisson (Liverpool)
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
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.”
Results
%3Cp%3E%3Cstrong%3EStage%203%3A%3C%2Fstrong%3E%3Cbr%3E1.%20Einer%20Rubio%20(COL)%20Movistar%20Team%20-%204h51%E2%80%9924%E2%80%9D%3Cbr%3E2.%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%20-%2014%22%3Cbr%3E3.%20Adam%20Yates%20(GBR)%20UAE%20Team%20Emirates%20-%2015%22%3Cbr%3E%3Cstrong%3EGeneral%20classifications%3A%3C%2Fstrong%3E%3Cbr%3E1.%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%3Cbr%3E2.%20Lucas%20Plapp%20(AUS)%20Ineos%20Grenaders)%20-%207%22%3Cbr%3E3.%20Pello%20Bilbao%20(ESP)%20Bahrain%20Victorious%20-%2011%22%3C%2Fp%3E%0A
