Salvation Army to set up camp in Emirates


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DUBAI // The Salvation Army, the international Christian movement known for its charity work, is to establish a presence in the UAE, according to church officials. The Emirates will be the second GCC country to host the Salvation Army. The movement began working in Kuwait in 2008. General Shaw Clifton, the Army's head, said this week that the group would "commence its work" in the UAE from June 1, bringing the number of countries where it operates to 121.

Commissioner Robin Forsyth, the international secretary for programme resources, said yesterday that the Army had been prompted to establish a presence in the UAE to "meet the needs" of followers of the movement, known as Salvationists. "We will be looking at both religious services for the group of active Salvationists as well as meeting needs in various areas and trying to help people," Mr Forsyth said from the Army's international headquarters in Britain.

The move into the UAE was seen as an "extension" of the work that the movement had been doing in Kuwait, as well as in Iraq where it had been involved primarily in humanitarian relief efforts since 2003, he said. Mr Forsyth said there were about 100 Salvationists in the UAE. Most are from the Indian subcontinent, with others from Europe. According to the Army, there are a "significant" number of Tamil-speaking Salvationists here.

The Salvation Army would work under the auspices of other evangelical churches in the UAE, said Mr Forsyth. John Willson, the secretary of St Andrew's Church in Abu Dhabi, confirmed yesterday that his church was helping to establish the Army's presence. The St Andrew's complex already hosted "a number of Christian communities," he said, adding that his church and the Salvation Army "share a conviction to a ministry of compassion".

"The Salvation Army will be expressly catering to the expat community that falls between the cracks and is in the need of such ministry," he said. "Sharing a common vision for such people will assist us to work together." The Salvation Army began to explore an expansion into the UAE last year. From next month, Majors Mike and Teresa Hawley, a married couple from the United States who were previously based in Kuwait, will be the officers responsible for the movement in the UAE.

According to Mr Willson, the Army's representatives are expected to hold regular prayer meetings at Union Church in Sharjah and in Abu Dhabi at St Andrew's, a compound built on land donated by Sheikh Zayed, the late President. Rev John Weir, senior chaplain of the Anglican Chaplaincy of Dubai, Sharjah and the Northern Emirates, said he would welcome the Salvation Army to the UAE. "There is a tremendous amount of work in pastoral care to be done, so I would welcome anyone seeking to support migrants and people working in the country," he said.

The Salvation Army was founded in Britain in 1865. It has a strong focus on social welfare issues including health, education, poverty relief and charitable work. zconstantine@thenational.ae

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Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

The finalists

Player of the Century, 2001-2020: Cristiano Ronaldo (Juventus), Lionel Messi (Barcelona), Mohamed Salah (Liverpool), Ronaldinho

Coach of the Century, 2001-2020: Pep Guardiola (Manchester City), Jose Mourinho (Tottenham Hotspur), Zinedine Zidane (Real Madrid), Sir Alex Ferguson

Club of the Century, 2001-2020: Al Ahly (Egypt), Bayern Munich (Germany), Barcelona (Spain), Real Madrid (Spain)

Player of the Year: Cristiano Ronaldo, Lionel Messi, Robert Lewandowski (Bayern Munich)

Club of the Year: Bayern Munich, Liverpool, Real Madrid

Coach of the Year: Gian Piero Gasperini (Atalanta), Hans-Dieter Flick (Bayern Munich), Jurgen Klopp (Liverpool)

Agent of the Century, 2001-2020: Giovanni Branchini, Jorge Mendes, Mino Raiola

How to play the stock market recovery in 2021?

If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.

Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.

Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.

Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).

Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal. 

Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.

By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.

As demand for energy fell, the oil and gas industry had a tough year, too.

Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.

He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.” 

This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”

Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.

Roll of honour 2019-2020

Dubai Rugby Sevens
Winners: Dubai Hurricanes
Runners up: Bahrain

West Asia Premiership
Winners: Bahrain
Runners up: UAE Premiership

UAE Premiership
}Winners: Dubai Exiles
Runners up: Dubai Hurricanes

UAE Division One
Winners: Abu Dhabi Saracens
Runners up: Dubai Hurricanes II

UAE Division Two
Winners: Barrelhouse
Runners up: RAK Rugby

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MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

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THE SPECS

      

 

Engine: 1.5-litre

 

Transmission: 6-speed automatic

 

Power: 110 horsepower 

 

Torque: 147Nm 

 

Price: From Dh59,700 

 

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