ABU DHABI // A Federal National Council member called on the Government to prohibit women from working after 10pm in male-dominated shisha cafes for religious and moral reasons.
Sultan Al Shamsi (Ajman) said the labour law stated that women should not work between 10pm and 7am in any job, except with an exemption from the Ministry of Labour.
As a result, in 1980 the ministry exempted the rule for women working in the hotel industry, restaurants and music bars.
In response, Saqr Ghobash, Minister of Labour, said there were 377,000 women working in the private sector, about 25,600 of whom work in the exempted industries.
He said this was a reasonable number since the country had an abundance of hotels and cafes.
He added that the ministry also held thousands of inspections yearly to ensure women were not exploited.
Last year, 46 women were reported for working illegally at night.
Mr Al Shamsi said there were huge numbers of women working in male-dominated coffee shops.
He said if they worked in family oriented places it would make perfect sense, otherwise it was morally, socially and religiously harmful to society and the women themselves.
He said these places were mostly located in industrial areas and in villas in residential areas.
Mr Al Shamsi said that while the ministry provided women with exemptions, it did not specify timings and places or nature of work.
“This is a breach of the law,” he said. “We are talking about women waiting on men until 1am or 2am.”
The minister told Mr Al Shamsi to provide any information he had about unlawful practices. He added that this was something the ministry would study in the future if it was, in fact, a new trend.
“We are ready to study this phenomena and see how widespread and how troubling it is,” Mr Ghobash said, adding that he would look into reviewing the current exemptions.
A number of members opposed Mr Al Shamsi’s request, including Sultan Al Dhaheri (Abu Dhabi), Noura Al Kaabi (Abu Dhabi) and Dr Mona Al Bahar (Dubai), and each one put forth a different reason.
Ms Al Kaabi said she had yet to see a shisha cafe with only male customers. She added that women also smoked shisha. Dr Al Bahar said there were other practises that the council should stand against, such as teenage smoking. Mr Al Dhaheri said such a decision was regressive.
Mr Al Shamsi eventually withdrew the proposal.
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Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)
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- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
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Expo details
Expo 2020 Dubai will be the first World Expo to be held in the Middle East, Africa and South Asia
The world fair will run for six months from October 20, 2020 to April 10, 2021.
It is expected to attract 25 million visits
Some 70 per cent visitors are projected to come from outside the UAE, the largest proportion of international visitors in the 167-year history of World Expos.
More than 30,000 volunteers are required for Expo 2020
The site covers a total of 4.38 sqkm, including a 2 sqkm gated area
It is located adjacent to Al Maktoum International Airport in Dubai South
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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Global state-owned investor ranking by size
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1.
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United States
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2.
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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6.
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Canada
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7.
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Singapore
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8.
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Australia
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9.
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Saudi Arabia
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10.
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South Korea
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