Zayed Charity Marathon in New York will coincide with the UAE’s 50th anniversary celebrations.
The annual global charity event aims to honour the legacy of Sheikh Zayed, the Founding Father.
“Since its launch, the marathon has followed the directives of Sheikh Mohamed bin Zayed, not only as a race but also as a global charity event dedicated to all people without discrimination, while carrying the name of the man of giving, Sheikh Zayed,” said Lt Gen Mohammed Hilal Al Kaabi, chairman of the Zayed Charity Marathon Supreme Committee.
“For 50 years, we have had profound and solid commercial, artistic, educational and sporting relations with New York City,” he said.
“Nowadays, the marathon has become one of the city’s landmarks, along with the famous Central Park, as people wait for it every year. Most importantly, people saw the contributions of the marathon to providing free medical treatment to many.”
The marathon began in Abu Dhabi in 2001, and the first international event was held in New York in 2005. It is also held in Egypt.
More than 30,000 people took part in the US event last year, Lt Gen Al Kaabi said.
New York state previously announced December 2, 2021 as Emirati Day in recognition of the country’s golden jubilee.
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
MATCH INFO
Borussia Dortmund 0
Bayern Munich 1 (Kimmich 43')
Man of the match: Joshua Kimmich (Bayern Munich)
Retirement funds heavily invested in equities at a risky time
Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.
Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.
The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.
The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.
Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.
The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.
• Bloomberg
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