Protesters burn a Swedish flag during a protest in Dhaka, Bangladesh, against Facebook over a competition that featured caricatures of the Prophet Mohammed.
Protesters burn a Swedish flag during a protest in Dhaka, Bangladesh, against Facebook over a competition that featured caricatures of the Prophet Mohammed.

Why today is 'Quit Facebook Day'



If Facebook was a country, it would have the third largest population in the world. More than 400 million members make it the very definition of the "global village" that the worldwide web was practically invented for. But Facebook has been facing controversy. A worldwide backlash has followed revelations that members' personal data have been made public and available to advertisers without their consent.

Indeed, news of these breaches was met with outrage by Facebook members and many have abandoned the network. An online group has even declared today "Quit Facebook Day", with almost 25,000 users pledging to delete their accounts. And controversy has spread to Bangladesh where the site has been blocked because it displayed caricatures of the Prophet Mohammed and "obnoxious" images of the Muslim-majority country's leaders.

Pakistan earlier banned access to Facebook, the video website YouTube and 1,200 web pages over a row about "blasphemous" content. Facebook would be reopened once Bangladesh had permanently blocked the offending pages, the Bangladesh Telecommunications Regulatory Commission said. Facebook's founder and chief executive, Mark Zuckerberg, does not believe the website's users actually want online secrecy. "It isn't that they want secrecy. It's that they want control over what they share and what they don't," he says.

Last week, Facebook made changes to give users more control over whom they share information with. Walid Osman, a 33-year-old British-Arab who runs a Dubai-based business, believes there are several reasons why he and many like him have never been tempted to join. He said: "Apart from the privacy issue, the amount of time people spend on it these days is ridiculous, and if you're at work you'll get easily distracted trying to catch up on what your friends are up to."

Not having a Facebook account does not mean you cannot be involuntarily drawn into it. Posting private photos previously would have been unthinkable, but now, for reasons of vanity or status, it is encouraged. "I am always baffled by people who have absolutely no regard for others' privacy, and who think they can post any photos of you for all their friends to see," said Mr Osman. "You can be at a party or function and get your picture taken, and the next day it's on Facebook whether you like it or not."

Increasingly, blackmailers and bullies have found a platform for criminal activity in social networking sites. In February of last year, Sharjah Police arrested five members of a gang - who called themselves "Death Room" - for beating up schoolchildren, filming the assaults and threatening to post the videos on Facebook unless money was paid. In November, a 26-year-old Syrian businessman admitted to Dubai Misdemeanours Court that he uploaded photos of his Lebanese business partner on to Facebook and posted libellous comments.

Jouslin Khairallah, the founder and chief executive of Khairallah Advocates & Legal Consultants in Dubai, said: "Legally in this country, you're not allowed to take or use a photo of a person without their permission. The only time you can is when a company uses one of an employee and clearly states so. So a person can sue another for posting photos of them on Facebook, but it's a very difficult procedure because there is a lack of regulation on the internet and it's very difficult to prove these cases."

Companies have used social networking sites such as Twitter, MySpace and Facebook to profile employees, or potential employees, and track their activities. "Companies have the right to terminate an employee's contract if a violation takes place during working hours," said Ms Khairallah. "Outside of working hours, they also have the right to fire employees if they are seen to be defaming their company on a social networking site, or indeed anywhere else."

Dina Hijazi, 32-year-old Lebanese who lives in Abu Dhabi, has never been tempted to join Facebook, saying it is a superficial way of maintaining friendships. "My past is my past and I'd like to keep it there. I keep in contact with my real friends who have put an effort for many years to stay in touch. I'm not interested in being in contact with some people on Facebook for the novelty period of three months and then not even catching up when they live in the same city."

Samer Khoury, 37, a Palestinian who works for a construction company in Abu Dhabi, was a user briefly but decided to switch off two years ago when he found his privacy being compromised by "friends". "Like many people I know, who are still connected to Facebook, I don't like photos of myself being posted without my permission. People don't realise that this can have a negative impact on your work or relationships. So many people complain about this but don't do anything about it. The relatively small number of people who signed up for Quit Facebook Day proves this."

akhaled@thenational.ae * With additional reporting from Reuters

UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners

Frankenstein in Baghdad
Ahmed Saadawi
​​​​​​​Penguin Press

Hydrogen: Market potential

Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.

"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.

Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.

The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.

Famous left-handers

- Marie Curie

- Jimi Hendrix

- Leonardo Di Vinci

- David Bowie

- Paul McCartney

- Albert Einstein

- Jack the Ripper

- Barack Obama

- Helen Keller

- Joan of Arc

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HOW TO WATCH

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England squad

Goalkeepers: Jordan Pickford, Nick Pope, Aaron Ramsdale 

Defenders: Trent Alexander-Arnold, Conor Coady, Marc Guehi, Reece James, Harry Maguire, Tyrone Mings, Luke Shaw, John Stones, Ben White

Midfielders: Jude Bellingham, Conor Gallagher, Mason Mount, Jordan Henderson, Declan Rice, James Ward-Prowse

Forwards: Tammy Abraham, Phil Foden, Jack Grealish, Harry Kane, Bukayo Saka, Emile Smith Rowe, Raheem Sterling

Company%20Profile
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How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
  • Critically assess whether a project’s promises or returns seem too good to be true.
  • Only use reputable platforms that have a track record of strong regulatory compliance.
  • Store funds in hardware wallets as opposed to online exchanges.
Blackpink World Tour [Born Pink] In Cinemas

Starring: Rose, Jisoo, Jennie, Lisa

Directors: Min Geun, Oh Yoon-Dong

Rating: 3/5

MATCH INFO

Rugby World Cup (all times UAE)

Final: England v South Africa, Saturday, 1pm

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
RESULTS

Cagliari 5-2 Fiorentina
Udinese 0-0 SPAL
Sampdoria 0-0 Atalanta
Lazio 4-2 Lecce
Parma 2-0 Roma
Juventus 1-0 AC Milan

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Game Changer

Director: Shankar 

Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

Rating: 2/5

Without Remorse

Directed by: Stefano Sollima

Starring: Michael B Jordan

4/5

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.”

What can you do?

Document everything immediately; including dates, times, locations and witnesses

Seek professional advice from a legal expert

You can report an incident to HR or an immediate supervisor

You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline

In criminal cases, you can contact the police for additional support

COMPANY%20PROFILE
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The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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Company Profile

Company name: NutriCal

Started: 2019

Founder: Soniya Ashar

Based: Dubai

Industry: Food Technology

Initial investment: Self-funded undisclosed amount

Future plan: Looking to raise fresh capital and expand in Saudi Arabia

Total Clients: Over 50