Dr Sultan Al Jaber, chairman of Masdar, and Shamma Al Mazrui, Minister of State for Youth Affairs, welcome Britain’s Prince Charles to Masdar City in Abu Dhabi as part of the British royal’s state visit to the country. Reuters
Dr Sultan Al Jaber, chairman of Masdar, and Shamma Al Mazrui, Minister of State for Youth Affairs, welcome Britain’s Prince Charles to Masdar City in Abu Dhabi as part of the British royal’s state visShow more

Prince Charles visits Masdar to talk to students about sustainability



ABU DHABI // Sustainability and the development of young people were at the heart of discussion between students at the Masdar Institute of Science and Technology and the UK’s Prince Charles on the second day of his state visit.

Shortly after arriving in one of the institutes’s eco pods, guided by magnetic fields around the sustainable city on the outskirts of Abu Dhabi, the prince was given a guided tour of the facility before meeting students.

For more than 40 years, the heir to the British throne has been an advocate of nurturing young people through his charitable work with the Prince’s Trust in the UK.

Financial support for start-up companies is paired with a mentoring programme from business people in the programme. It has helped thousands of young people, with the economy benefiting from jobs and taxable income.

Charles met Minister of State for Youth Affairs, Shamma Al Mazrui, to discuss the success of the programme and how it could be replicated in the UAE.

“We have been working with the business sector in the UK to work out where the skills shortages are so that we can join up the dots,” Prince Charles said.

“We have been speaking with relevant businesses as it seems the key challenges in the Middle East and many other parts of the world is youth unemployment.

“The most successful economies are built on the successful foundations of small and medium-sized businesses.

“I have been so encouraged over the past 40 years or so to see how many of these young people have done so well, and (some) have gone on to sell their own businesses for £70 million or so and then give back to the next generation.”

Prince Charles, who is visiting with his wife, Camilla, the Duchess of Cornwall, has long championed sustainability.

That ambition crucially relies on the next generation of business minds to help develop sustainable energy solutions for the future, he said,

“The main challenge facing us all now is how we can de-carbonise our economy, radically,” he said.

“We have heard from climate scientists this year that global temperatures have risen, and we are heading towards extremely dangerous territory.

“The key now is to support the technology and innovation being developed to support that idea of decarbonising economies.

“We are reliant on young people to help develop these technologies, so they are hugely important. We need to learn how to live in harmony with nature, rather than remove nature from the equation altogether.”

An example of research projects at Masdar led by youth was an energy-efficient membrane used to desalinate sea water, which could provide clean water.

Ms Al Mazrui opened a discussion on green issues, attended by Prince Charles, students, Dr Sultan Al Jaber, chairman of Masdar, and chief executive Mohamed Jameel Al Ramahi.

She said the UAE was following the example set by the Prince’s Trust in harnessing the potential of young people.

“In the UAE we too are greatly invested in youth and they are viewed as the global emerging market with huge potential,” she said.

“Young people are the future engineers of sustainability and the UAE youth strategy is 100 per cent youth-driven.

“His Royal Highness is a visionary who has long been concerned with preserving the planet’s resources. They should not be used at the expense of our tomorrows. His work has shown decisive action to better align the private and public sector by establishing accountable sustainability projects.”

Omar Younis Asad, a Phd student at the Masdar Institute, encouraged other young people to pursue green initiatives and think about how they can reduce their carbon output.

“We should all care for our sustainability as it promotes our education and concerns all stakeholders; it will push us forward to make the right choices and to do the right thing,” he said.

“We should all be focusing on developing and capitalising on long-term strategies that are sustainable for the environment around us.”

nwebster@thenational.ae

How The Debt Panel's advice helped readers in 2019

December 11: 'My husband died, so what happens to the Dh240,000 he owes in the UAE?'

JL, a housewife from India, wrote to us about her husband, who died earlier this month. He left behind an outstanding loan of Dh240,000 and she was hoping to pay it off with an insurance policy he had taken out. She also wanted to recover some of her husband’s end-of-service liabilities to help support her and her son.

“I have no words to thank you for helping me out,” she wrote to The Debt Panel after receiving the panellists' comments. “The advice has given me an idea of the present status of the loan and how to take it up further. I will draft a letter and send it to the email ID on the bank’s website along with the death certificate. I hope and pray to find a way out of this.”

November 26:  ‘I owe Dh100,000 because my employer has not paid me for a year’

SL, a financial services employee from India, left the UAE in June after quitting his job because his employer had not paid him since November 2018. He owes Dh103,800 on four debts and was told by the panellists he may be able to use the insolvency law to solve his issue. 

SL thanked the panellists for their efforts. "Indeed, I have some clarity on the consequence of the case and the next steps to take regarding my situation," he says. "Hopefully, I will be able to provide a positive testimony soon."

October 15: 'I lost my job and left the UAE owing Dh71,000. Can I return?'

MS, an energy sector employee from South Africa, left the UAE in August after losing his Dh12,000 job. He was struggling to meet the repayments while securing a new position in the UAE and feared he would be detained if he returned. He has now secured a new job and will return to the Emirates this month.

“The insolvency law is indeed a relief to hear,” he says. "I will not apply for insolvency at this stage. I have been able to pay something towards my loan and credit card. As it stands, I only have a one-month deficit, which I will be able to recover by the end of December." 

The years Ramadan fell in May

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Apple Mac through the years

1984 - Apple unveiled the Macintosh on January 24
1985 - Steve Jobs departed from Apple and established NeXT
1986 - Apple introduced the Macintosh Plus, featuring enhanced memory
1987 - Apple launched the Macintosh II, equipped with colour capabilities
1989 - The widely acclaimed Macintosh SE/30 made its debut
1994 - Apple presented the Power Macintosh
1996 - The Macintosh System Software OS underwent a rebranding as Mac OS
2001 - Apple introduced Mac OS X, marrying Unix stability with a user-friendly interface
2006 - Apple adopted Intel processors in MacBook Pro laptops
2008 - Apple introduced the MacBook Air, a lightweight laptop
2012 - Apple launched the MacBook Pro with a retina display
2016 - The Mac operating system underwent rebranding as macOS
2020 - Apple introduced the M1 chip for Macs, combining high performance and energy efficiency
2022 - The M2 chip was announced
2023 -The M3 line-up of chip was announced to improve performance and add new capabilities for Mac.

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The five pillars of Islam

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How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.


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