Ministers have greeted the increased representation of female Government members – and the new posts of Happiness and Tolerance – as putting UAE governance ahead of the world.
New UAE ministers have welcomed the new posts of Happiness and Tolerance in the federal Government, and the increased representation of women.
“There is no nation that believes in their women more than the UAE and it shows,” said Noura Al Kaabi, the new Minister of FNC Affairs. “I know most of the women who are new members and they are worthy, and I think it is just great.”
The new Ministers of State for Happiness and Tolerance will set apart the UAE’s system of governance from “any other system”, Ms Al Kaabi said, adding there would be more focus on certain tasks of the ministers.
She said she had a big job to fill the shoes of her predecessor, Dr Anwar Gargash, who remains Minister of State for Foreign Affairs, but said she would do her best to make her post a success.
“My first reaction was a state of appreciation and a state of also nervousness,” she said. “It is a huge responsibility.”
But Sheikh Mohammed’s words that “we trust she will add great value” helped to show the relevance of her time as an FNC member since 2011, said Ms Al Kaabi.
“I am happy that I will be going and attending the sessions,” she said. “I have to admit it has been a short period of time with this current membership.”
After the recent parliamentary retreat for FNC members at Sir Bani Yas Island, Ms Al Kaabi said, she developed a clear vision of the council’s successes, challenges and what could be done to bring “the best sort of presentation”.
There, she said, Dr Amal Al Qubaisi, Speaker of the FNC, created a bond with the members.
“We talked about our strategy mission and the future, and it is a huge advantage that we sat and brainstormed and I was part of the process,” Ms Al Kaabi said.
Dr Maitha Al Shamsi, Minister of State in the old and new governments, said the women ministers were appointed “not because of a quota, but for qualifications”.
She believed Sheikha Lubna Al Qasimi would play a major role as Minister of State for Tolerance.
“The leaders would not have placed this job unless there is a regional and international need for this,” said Ms Al Shamsi.
The new types of posts in the Government reflects “an enlightenment for the future for many countries, and now tolerance is a major objective”, she said.
Hussain Al Hammadi, Minister of Education, said the appointment of two Ministers of State to support his role highlights the importance of the sector and “sets us in front of new requests which require precise work”.
The coming work will be based on honesty, strong will and ambition, he said, “to enable us to overcome obstacles” and achieve a competitive status that “supercedes its counterparts in developed countries”.
Jameela Al Muhairi, new Minister of State for Public Education, said her appointment inspired her “to exert greater efforts in serving this country. Together, we’ll build on the development goals highlighted in the national agenda while ensuring the happiness of our students”.
Sheikha Manal, daughter of Sheikh Mohammed bin Rashid, was delighted. “Congratulations to the UAE’s new Cabinet,” she tweeted. “Very proud that women account for 27.5 per cent of the Cabinet.”
hdajani@thenational.ae
'Gold'
Director:Anthony Hayes
Stars:Zaf Efron, Anthony Hayes
Rating:3/5
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
ALRAWABI SCHOOL FOR GIRLS
Creator: Tima Shomali
Starring: Tara Abboud, Kira Yaghnam, Tara Atalla
Rating: 4/5
SPECS
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Power: 181hp
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Coming soon
Torno Subito by Massimo Bottura
When the W Dubai – The Palm hotel opens at the end of this year, one of the highlights will be Massimo Bottura’s new restaurant, Torno Subito, which promises “to take guests on a journey back to 1960s Italy”. It is the three Michelinstarred chef’s first venture in Dubai and should be every bit as ambitious as you would expect from the man whose restaurant in Italy, Osteria Francescana, was crowned number one in this year’s list of the World’s 50 Best Restaurants.
Akira Back Dubai
Another exciting opening at the W Dubai – The Palm hotel is South Korean chef Akira Back’s new restaurant, which will continue to showcase some of the finest Asian food in the world. Back, whose Seoul restaurant, Dosa, won a Michelin star last year, describes his menu as, “an innovative Japanese cuisine prepared with a Korean accent”.
Dinner by Heston Blumenthal
The highly experimental chef, whose dishes are as much about spectacle as taste, opens his first restaurant in Dubai next year. Housed at The Royal Atlantis Resort & Residences, Dinner by Heston Blumenthal will feature contemporary twists on recipes that date back to the 1300s, including goats’ milk cheesecake. Always remember with a Blumenthal dish: nothing is quite as it seems.
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Director: Harmony Korine
Stars: Jordi Molla, Travis Scott
Rating: 2/5
The Old Slave and the Mastiff
Patrick Chamoiseau
Translated from the French and Creole by Linda Coverdale
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.”
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
Law 41.9.4 of men’s T20I playing conditions
The fielding side shall be ready to start each over within 60 seconds of the previous over being completed.
An electronic clock will be displayed at the ground that counts down seconds from 60 to zero.
The clock is not required or, if already started, can be cancelled if:
• A new batter comes to the wicket between overs.
• An official drinks interval has been called.
• The umpires have approved the on field treatment of an injury to a batter or fielder.
• The time lost is for any circumstances beyond the control of the fielding side.
• The third umpire starts the clock either when the ball has become dead at the end of the previous over, or a review has been completed.
• The team gets two warnings if they are not ready to start overs after the clock reaches zero.
• On the third and any subsequent occasion in an innings, the bowler’s end umpire awards five runs.
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Confirmed bouts (more to be added)
Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez
Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.
