ABU DHABI // Since she was a teenager, Amal Al Ghaferi wanted to be a university professor.
Now, as the first Emirati faculty member at the Masdar Institute, she has achieved that dream.
Ms Al Ghaferi, 37, from Al Ain, has been working as an assistant professor in materials science and engineering at the university since 2010.
After going to school and university in her home city, she decided to head to the US to study for her doctorate.
“It was a big jump for me from Al Ain all the way to Pittsburgh. The cities are so different. It was so difficult to adapt to the new city life,” she said.
“I had never been away from home other than for holidays. So it was tough in the beginning.
“But I told myself, ‘if it is not challenging, you are not learning anything new’.”
To help her acclimatise, her family moved with her to Pittsburgh for the first year.
“My family was very supportive. My parents are aware of the role of education in a person’s life. They joined me in Pittsburgh to help me adapt and ensure I could live independently.
“My mother was a headmistress of a school and she retired to come along. My sister was also with me and she studied English,” she said.
Ms Al Ghaferi spent seven years in the US.
When Ms Al Ghaferi joined Masdar Institute, she was the only Emirati faculty member. She is still the only Emirati woman among the 97 staff on the faculty, although there are now five male compatriots in her team.
At the institute, 44 per cent of the students are women and almost 50 per cent are Emiratis.
“I can see that in the near future there will be many more Emirati women in the field of science and technology in the UAE and I see them taking the lead. Women are the right candidates to do research because they are patient. When they decide to do something, they make sure they do it in the best possible way,” she said. “The female students look at me as a role model and the male students look at me with respect. This encourages them to see their future in a different way.
“I think we are the luckiest nation to have a government that gives the same opportunities to men as well as women.”
She is proud that scientists from around the world are vying to use the facilities at Masdar.
She said: “In the United States, when I used the microscopes, I used to wonder would I be able to use such equipment in UAE? Am I just wasting my time working with state-of- the-art equipment only to stagnate when I go back to the UAE?
“Now, our colleagues from abroad want to come here and do imaging sessions.”
She wants to continue her research and raise her family. She is now the mother of a 10-month-old girl.
“Science and knowledge have no limits,” she said.
Her advice to young Emiratis: “Believe in yourself, be patient and persevere and it will happen. Go after your dreams, either here or abroad. If you do go abroad remember to bring back something home with you.”
arizvi2@thenational.ae
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Who is Tim-Berners Lee?
Sir Tim Berners-Lee was born in London in a household of mathematicians and computer scientists. Both his mother, Mary Lee, and father, Conway, were early computer scientists who worked on the Ferranti 1 - the world's first commercially-available, general purpose digital computer. Sir Tim studied Physics at the University of Oxford and held a series of roles developing code and building software before moving to Switzerland to work for Cern, the European Particle Physics laboratory. He developed the worldwide web code as a side project in 1989 as a global information-sharing system. After releasing the first web code in 1991, Cern made it open and free for all to use. Sir Tim now campaigns for initiatives to make sure the web remains open and accessible to all.
UK’s AI plan
- 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
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
Fund-raising tips for start-ups
Develop an innovative business concept
Have the ability to differentiate yourself from competitors
Put in place a business continuity plan after Covid-19
Prepare for the worst-case scenario (further lockdowns, long wait for a vaccine, etc.)
Have enough cash to stay afloat for the next 12 to 18 months
Be creative and innovative to reduce expenses
Be prepared to use Covid-19 as an opportunity for your business
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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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Tottenham advance on away goals rule after tie ends 3-3 on aggregate
Final: June 1, Madrid
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