Task forces plan education shake-up


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ABU DHABI // Three task forces are to create the first formal policy agenda for education in the emirate, one that will guide schools, universities and vocational training for the next decade. Among initial proposals are allowing university students to transfer credits between institutions, integrating special needs children into mainstream schools and opening specialist schools. The task forces include local and international experts and were set up by the Abu Dhabi Education Council (Adec), which manages schools and universities. Each task force includes between eight and 10 people, half of them UAE or GCC nationals, with input from Dr Mugheer al Khaili, Adec's director general.

Their goals include introducing the best aspects of overseas international education systems, while making allowance for local cultural practices. The needs of pupils are at the centre of the task force's recommendations, said Ken Thompson, an adviser to Dr Khaili. "What we really need is strong governance, we need strong teachers, we need strong leaders in the school? we need a strong curriculum," he said.

Once the groups' proposals are complete, Adec will use them to create an overarching guide for the education system. A summary of that document will be made available to the public. Mr Thompson said: "Abu Dhabi has stated that it expects and wants this emirate to have an outstanding education system, which prepares students not only to be good citizens but also to be competitive worldwide, competitive getting into university and competitive accepting positions anywhere in the world. That's a big change."

According to statistics compiled by the World Bank for its Knowledge Economy Index, which measures the ability of countries to generate and adopt knowledge, the UAE ranks 77th out of 132 countries in education despite having a Dh7 billion (US$1.9bn) education budget. The UAE offers 900 hours of instructional time in schools, far behind those farther up the list that have more than 1,100 hours. The Ministry of Education and Adec are working on what will be the first licensing system for teachers.

Most teachers in Abu Dhabi's public school system do not have teaching degrees, something teachers in many of the world's higher-rated systems are required to have. Another proposal includes opening specialist secondary schools, where pupils can begin to focus on a subject area such as technology or performing arts. It has been acknowledged that the country's public schools are failing to prepare pupils for university, with federal institutions having to spend about a third of their budget on foundation programmes to bring young people up to the standard required for them to start their main degree or diploma courses.

Priorities include easing the transition between the various stages of the education system and promoting flexibility within each level. When it comes to higher education, Adec wants students to have the flexibility to change their courses or even universities, and be able to take the course credits they have already earned with them. "That means that we can establish a system that allows students to make decisions and change their minds," Mr Thompson said.

It is also important that students have a range of options, and are prepared for them, as they complete each stage of their education. "There are an awful lot of community colleges in this world, whose graduates can't get into the local universities because they haven't gotten together questions, like: are credits transferable from one university to another?" he said. "Those are the kinds of issues we can resolve before they create a problem for students."

As for special needs pupils, it is hoped both public and private schools can address current shortages by offering space in their classrooms. klewis@thenational.ae dbardsley@thenational.ae

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Director: Lana Wachowski

Stars:  Keanu Reeves, Carrie-Anne Moss, Jessica Henwick 

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Stage: series D 
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India

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Co-founders: Elie Habib, Eddy Maroun
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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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- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France

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5.30pm: Handicap (PA) Dh90,000 1,400m​​​​​​​
Winner: AF Momtaz, Antonio Fresu, Musabah Al Muhairi.

6pm: Handicap (TB) Dh100,000 1,400m​​​​​​​
Winner: Yaalail, Fernando Jara, Ali Rashid Al Raihe.

6.30pm: Abu Dhabi Championship Listed (PA) Dh180,000 1,600m​​​​​​​
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7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,600m​​​​​​​
Winner: Dahess D’Arabie, Fernando Jara, Helal Al Alawi.

7.30pm: Maiden (PA) Dh80,000 2.200m
​​​​​​​Winner: Ezz Al Rawasi, Connor Beasley, Helal Al Alawi.

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