ABU DHABI // An online course that promotes safe driving and the use of seat belts is being added to college curriculums.
Higher Colleges of Technology (HCT) institutes have included the e-course in their curriculums as part of the Stay Alert, Stay Alive campaign, supported by the Roads and Transport Authority in Dubai.
More than 18,000 Emirati students can take the 30-minute course, which is comprised of seven modules including law, risks in everyday driving and ways to drive safely.
“We believe that by completing this course, HCT students will gain a better understanding of the importance of wearing a seat belt while driving, or as a passenger,” said Dr Tayeb Kamali, vice chancellor of HCT.
An assessment of the results of the e-course will be carried out every three months.
“Tying the initiative to course work at HCT is a good idea to get the message out, but I think it should be mandatory for all young people,” said Glenn Havinoviski, Middle East transport systems director at US traffic-management company Iteris.
“Real-life driving is not like a video game.”
The course was developed by BMW Group Middle East and is the third time in recent years the company has reached out to students to promote road safety.
“They are young drivers, therefore we are trying to instil good driving habits from an early driving age,” said Leanne Blanckenberg, corporate communications manager for BMW.
“If we can encourage one student to buckle up or save the life of one student, then this campaign has been effective for us.
“But for actual change to happen, this needs time and reiteration of the importance of why one needs to buckle up and be a responsible driver.
“We are not just changing driving habits. We’re trying to change attitudes, which is a long-term responsibility.”
Changing driving habits of the youth is “extremely difficult and takes time”, said Dino Kalivas, the director of training at Emirates Driving.
“Research indicates behaviour change requires human intervention supported by public campaigns over a continuous period of time,” Mr Kalivas said.
“Greater impact on behaviour change needs to be implemented in primary and secondary schools.
“Once a person reaches adolescent years, the message and importance of wearing seat belts is too late and not established, hence a reflection of the low use rates of seat belts in the UAE.”
The Stay Alert, Stay Alive campaign was launched in 2010 focusing on educating the public about the importance of using car restraints, particularly for children.
But Khaled Al Mansoori, director of business development at Emirates Driving in Abu Dhabi, questioned the effectiveness of online courses.
“Sound teaching still involves human interaction and problem-based solutions,” Mr Al Mansoori said.
“In theory, online courses can work. However, at best their basis is to provide an insight into core topics and themes.”
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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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What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
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- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
