Matt Brittin, Google’s President for EMEA. The National
Matt Brittin, Google’s President for EMEA. The National
Matt Brittin, Google’s President for EMEA. The National
Matt Brittin, Google’s President for EMEA. The National

Davos 2023: Google's mission to meet obligations in changing world


Mina Al-Oraibi
  • English
  • Arabic

One of the biggest talking points at the World Economic Forum Annual Meeting this year is the influence of technology, and particularly AI, across all sectors and its continued exponential growth.

Technology companies are out in full force in Davos, among them Google, with executives speaking in public sessions and holding meetings with leaders from the public and private sectors.

Matt Brittin, president for Google EMEA, is among those concerned about the year ahead.

“Going into 2023, the world faces some big challenges, whether it's energy security, the cost of living crisis, the climate crisis, also harnessing technology for good,” he said.

In an exclusive interview with The National, he said that to tackle those issues “it is very clear that governments, companies and communities working together is essential, and technology can help in each of these challenges”.

Mr Brittin said that in times of difficulty, the forum becomes even more important “because it has that ability to bring those leaders together from NGOs, companies and governments to really look at how we can work together on some of these challenges”.

As their role and influence grows, tech companies are under increasing scrutiny.

World Economic Forum in Davos — in pictures

  • Lawrence Summers, president emeritus and professor at Harvard University, speaks during a panel session on day three of the World Economic Forum's Annual Meeting in Davos, Switzerland. Bloomberg
    Lawrence Summers, president emeritus and professor at Harvard University, speaks during a panel session on day three of the World Economic Forum's Annual Meeting in Davos, Switzerland. Bloomberg
  • Netherlands Prime Minister Mark Rutte and Tanzanian President Samia Hassan during a panel discussion in Davos. AP
    Netherlands Prime Minister Mark Rutte and Tanzanian President Samia Hassan during a panel discussion in Davos. AP
  • EU Parliament President Roberta Metsola speaks at the forum. AP
    EU Parliament President Roberta Metsola speaks at the forum. AP
  • Greek Prime Minister Kyriakos Mitsotakis, left, speaks to CNN journalist Fareed Zakaria at the Congress Centre in Davos. AFP
    Greek Prime Minister Kyriakos Mitsotakis, left, speaks to CNN journalist Fareed Zakaria at the Congress Centre in Davos. AFP
  • Iranian-American journalist and women's rights activist Masih Alinejad takes part in an interview with a TV news channel in Davos. AFP
    Iranian-American journalist and women's rights activist Masih Alinejad takes part in an interview with a TV news channel in Davos. AFP
  • Mr Mitsotakis is seen on a TV camera viewfinder at the Congress Centre in Davos. AFP
    Mr Mitsotakis is seen on a TV camera viewfinder at the Congress Centre in Davos. AFP
  • Faisal Alibrahim, Saudi Arabia's Economy and Planning Minister, speaks during a panel session in Davos. Bloomberg
    Faisal Alibrahim, Saudi Arabia's Economy and Planning Minister, speaks during a panel session in Davos. Bloomberg
  • Climate activist Greta Thunberg addresses journalists in Davos. Reuters
    Climate activist Greta Thunberg addresses journalists in Davos. Reuters
  • Mary Erdoes, chief executive of JP Morgan Chase's asset wealth management arm, listens during a panel session in Davos. Bloomberg
    Mary Erdoes, chief executive of JP Morgan Chase's asset wealth management arm, listens during a panel session in Davos. Bloomberg
  • Officials take part in the World Economic Forum's Busting Business Barriers session. Photo: World Economic Forum
    Officials take part in the World Economic Forum's Busting Business Barriers session. Photo: World Economic Forum
  • Dr Thani Al Zeyoudi, the UAE Minister of State for Foreign Trade, is among the senior officials in Davos. Photo: WEF
    Dr Thani Al Zeyoudi, the UAE Minister of State for Foreign Trade, is among the senior officials in Davos. Photo: WEF
  • Former US vice president Al Gore, who is also a member of board of trustees of the forum, at a session titled Leading the Charge through Earth's New Normal. Photo: WEF
    Former US vice president Al Gore, who is also a member of board of trustees of the forum, at a session titled Leading the Charge through Earth's New Normal. Photo: WEF
  • Famed cellist Yo-Yo Ma performs at the event. Photo: WEF
    Famed cellist Yo-Yo Ma performs at the event. Photo: WEF
  • Deemah Al Yahya, secretary general of the Digital Co-operation Organisation in Saudi Arabia, at the forum's Turning Technologies into the Markets of Tomorrow session. Photo: WEF
    Deemah Al Yahya, secretary general of the Digital Co-operation Organisation in Saudi Arabia, at the forum's Turning Technologies into the Markets of Tomorrow session. Photo: WEF
  • US climate change envoy John Kerry at the Keeping the Pace on Climate session. Photo: WEF
    US climate change envoy John Kerry at the Keeping the Pace on Climate session. Photo: WEF
  • Shoes worn by Rodrigo Oliveira, founder of Brazilian group Green Mining, emphasise support for environmental initiatives. Photo: WEF
    Shoes worn by Rodrigo Oliveira, founder of Brazilian group Green Mining, emphasise support for environmental initiatives. Photo: WEF
  • Mina Al-Oraibi, Editor in Chief of The National, moderates a session on the Middle East that featured Prince Faisal bin Farhan, Saudi Arabia's Minister of Foreign Affairs. Photo: WEF
    Mina Al-Oraibi, Editor in Chief of The National, moderates a session on the Middle East that featured Prince Faisal bin Farhan, Saudi Arabia's Minister of Foreign Affairs. Photo: WEF
  • Officials and delegates take part in the Middle East: Meeting Point or Battleground? session. Photo: WEF
    Officials and delegates take part in the Middle East: Meeting Point or Battleground? session. Photo: WEF
  • Polish President Andrzej Duda speaks at the Restoring Security and Peace session. Photo: WEF
    Polish President Andrzej Duda speaks at the Restoring Security and Peace session. Photo: WEF
  • Mr Duda, Nato chief Jens Stoltenberg, Canada's Deputy Prime Minister Chrystia Freeland, Yuliia Svyrydenko, first deputy prime minister in Ukraine, and US Director of National Intelligence Avril Haines attend a session hosted by broadcaster Fareed Zakaria. Photo: WEF
    Mr Duda, Nato chief Jens Stoltenberg, Canada's Deputy Prime Minister Chrystia Freeland, Yuliia Svyrydenko, first deputy prime minister in Ukraine, and US Director of National Intelligence Avril Haines attend a session hosted by broadcaster Fareed Zakaria. Photo: WEF
  • Olena Zelenska, Ukraine's first lady, watches as Ukrainian President Volodymyr Zelenskyy addresses the forum. Photo: WEF
    Olena Zelenska, Ukraine's first lady, watches as Ukrainian President Volodymyr Zelenskyy addresses the forum. Photo: WEF
  • Mohamad Al Ississ, Jordan's Minister of Finance, takes part in the session titled The Middle East: Meeting Point or Battleground? Photo: WEF
    Mohamad Al Ississ, Jordan's Minister of Finance, takes part in the session titled The Middle East: Meeting Point or Battleground? Photo: WEF
  • Mr Zelenskyy gives a video address to the forum in Davos. AFP
    Mr Zelenskyy gives a video address to the forum in Davos. AFP
  • Former US secretary of state Henry Kissinger appears on screen during the annual meeting of the World Economic Forum, in Davos. AP
    Former US secretary of state Henry Kissinger appears on screen during the annual meeting of the World Economic Forum, in Davos. AP
  • US governors Brian Kemp and JB Pritzker, senators Chris Coons, Joe Manchin and Kyrsten Sinema and representatives Maria Salazar and Mikie Sherrill take part in a panel discussion at Davos. AP
    US governors Brian Kemp and JB Pritzker, senators Chris Coons, Joe Manchin and Kyrsten Sinema and representatives Maria Salazar and Mikie Sherrill take part in a panel discussion at Davos. AP
  • Saudi Foreign Minister Prince Faisal bin Farhan attends a session in Davos. AFP
    Saudi Foreign Minister Prince Faisal bin Farhan attends a session in Davos. AFP
  • Chinese Vice Premier Liu He on the opening day of the forum. Bloomberg
    Chinese Vice Premier Liu He on the opening day of the forum. Bloomberg
  • Fifa president Gianni Infantino, left, and Patrice Motsepe, billionaire founder of African Rainbow Minerals, arrive at the forum's venue in Davos. EPA
    Fifa president Gianni Infantino, left, and Patrice Motsepe, billionaire founder of African Rainbow Minerals, arrive at the forum's venue in Davos. EPA
  • Finland's Prime Minister Sanna Marin, right, is interviewed by Fareed Zakaria in Davos. AP
    Finland's Prime Minister Sanna Marin, right, is interviewed by Fareed Zakaria in Davos. AP
  • Delegates visit the refreshments area between sessions in Davos. Bloomberg
    Delegates visit the refreshments area between sessions in Davos. Bloomberg
  • Singer Angelique Kidjo performs in Davos. EPA
    Singer Angelique Kidjo performs in Davos. EPA
  • From left, WEF founder Klaus Schwab, European Commission President Ursula von der Leyen, Ukrainian first lady Olena Zelenska and Swiss President Alain Berset pose together during the 53rd annual meeting of the forum in Davos. EPA
    From left, WEF founder Klaus Schwab, European Commission President Ursula von der Leyen, Ukrainian first lady Olena Zelenska and Swiss President Alain Berset pose together during the 53rd annual meeting of the forum in Davos. EPA
  • Ms Zelenska hit out at Russia and said 'we cannot allow a new Chernobyl to happen'. AFP
    Ms Zelenska hit out at Russia and said 'we cannot allow a new Chernobyl to happen'. AFP
  • Mr Berset addresses delegates in Davos. EPA
    Mr Berset addresses delegates in Davos. EPA
  • Ms von der Leyen said the 27-nation bloc would become much more forceful in countering unfair trading practices. Reuters
    Ms von der Leyen said the 27-nation bloc would become much more forceful in countering unfair trading practices. Reuters
  • Ferdinand Marcos, President of the Philippines, arrives to attend a session in Davos. AP
    Ferdinand Marcos, President of the Philippines, arrives to attend a session in Davos. AP
  • Former US vice president Al Gore is expected to discuss decarbonisation, as well as efforts to build clean energy infrastructure and ensure equitable growth. EPA
    Former US vice president Al Gore is expected to discuss decarbonisation, as well as efforts to build clean energy infrastructure and ensure equitable growth. EPA
  • From second left, WEF president Borge Brende, Carbon Direct vice chairwoman Nili Gilbert and US climate envoy John Kerry with other delegates in Davos. EPA
    From second left, WEF president Borge Brende, Carbon Direct vice chairwoman Nili Gilbert and US climate envoy John Kerry with other delegates in Davos. EPA
  • Credit Suisse chairman Axel Lehmann speaks during the 53rd WEF Annual Meeting. EPA
    Credit Suisse chairman Axel Lehmann speaks during the 53rd WEF Annual Meeting. EPA
  • DP World chief executive Sultan bin Sulayem in Davos. Bloomberg
    DP World chief executive Sultan bin Sulayem in Davos. Bloomberg
  • UBS chief executive Ralph Hamers speaks during a television interview on the opening day of the forum. Bloomberg
    UBS chief executive Ralph Hamers speaks during a television interview on the opening day of the forum. Bloomberg
  • From left, Hong Kong Exchanges & Clearing Ltd chairwoman Laura Cha, Banco de Portugal Governor Mario Centeno, Bloomberg TV anchor Francine Lacqua, Credit Suisse chairman Axel Lehmann and S&P Global president and chief executive Douglas Peterson during a panel session on the opening day of the forum. Bloomberg
    From left, Hong Kong Exchanges & Clearing Ltd chairwoman Laura Cha, Banco de Portugal Governor Mario Centeno, Bloomberg TV anchor Francine Lacqua, Credit Suisse chairman Axel Lehmann and S&P Global president and chief executive Douglas Peterson during a panel session on the opening day of the forum. Bloomberg
  • Mr Kerry delivers a speech at the Congress Centre in Davos. AFP
    Mr Kerry delivers a speech at the Congress Centre in Davos. AFP
  • Musicians take part in a concert during the official opening of the forum. Photo: WEF
    Musicians take part in a concert during the official opening of the forum. Photo: WEF
  • Jordanian vocalist Farah Siraj, centre, and Egyptian-Australian multi-instrumentalist Joseph Tawadros, left, perform during the I Sea You concert. Photo: WEF
    Jordanian vocalist Farah Siraj, centre, and Egyptian-Australian multi-instrumentalist Joseph Tawadros, left, perform during the I Sea You concert. Photo: WEF
  • Tawadros is one of the world's leading oud performers and composers. Photo: WEF
    Tawadros is one of the world's leading oud performers and composers. Photo: WEF
  • WEF managing director Alois Zwinggi speaks during a session called 'In Harmony with Nature'. Photo: WEF
    WEF managing director Alois Zwinggi speaks during a session called 'In Harmony with Nature'. Photo: WEF
  • Gail Whiteman, left, a professor of sustainability at the University of Exeter Business School, speaks during the 'In Harmony with Nature' panel discussion. Photo: WEF
    Gail Whiteman, left, a professor of sustainability at the University of Exeter Business School, speaks during the 'In Harmony with Nature' panel discussion. Photo: WEF
  • Mr Schwab delivers a speech during the 'Crystal Award' ceremony in Davos. AFP
    Mr Schwab delivers a speech during the 'Crystal Award' ceremony in Davos. AFP
  • Actor Idris Elba, right, and his wife Sabrina Dhowre Elba, left, smile on the podium during the Crystal Award ceremony. AP
    Actor Idris Elba, right, and his wife Sabrina Dhowre Elba, left, smile on the podium during the Crystal Award ceremony. AP
  • Kyiv Mayor Vitali Klitschko attends the Crystal Award ceremony. EPA
    Kyiv Mayor Vitali Klitschko attends the Crystal Award ceremony. EPA
  • Singer Renee Fleming, right, receives a Crystal Award from Hilde Schwab, wife of WEF founder Klaus Schwab. AP
    Singer Renee Fleming, right, receives a Crystal Award from Hilde Schwab, wife of WEF founder Klaus Schwab. AP
  • Delegates at the welcome reception before the official start of the forum. Bloomberg
    Delegates at the welcome reception before the official start of the forum. Bloomberg
  • Food for attendees at the welcome reception. Bloomberg
    Food for attendees at the welcome reception. Bloomberg
  • A kiosk serving hot chocolate from the UAE at the forum. Bloomberg
    A kiosk serving hot chocolate from the UAE at the forum. Bloomberg
  • The Infosys pavilion at the forum. Bloomberg
    The Infosys pavilion at the forum. Bloomberg
  • Ukraine's pavilion in Davos. Reuters
    Ukraine's pavilion in Davos. Reuters
  • Swiss police officers on patrol in Davos. Reuters
    Swiss police officers on patrol in Davos. Reuters
  • From left, German Vice Chancellor Robert Habeck with Swiss ministers Guy Parmelin and Albert Roesti before the start of a bilateral meeting in Davos. EPA
    From left, German Vice Chancellor Robert Habeck with Swiss ministers Guy Parmelin and Albert Roesti before the start of a bilateral meeting in Davos. EPA
  • A delegate passes a digital display in Davos. Bloomberg
    A delegate passes a digital display in Davos. Bloomberg

Mr Brittin said more could be done, particularly in terms of safety and protection online.

“There is a huge opportunity to harness technology for good, but also to understand the responsibilities of technology and technology companies and how the new rules of the road need to work,” he said.

The challenge is to “get the benefits of technology but protect against its misuse … it needs rules of the road”.

As 2022 drew to a close, there was much interest in ChatGPT, which has been developed by OpenAI but builds on technology developed by several companies, including Google. The way it presents information has increased interest in the power of AI.

Business Extra podcast in Davos: Mubadala's Badr Al Olama on UAE's competitiveness

“AI is making really substantive advances and we see more and more practical uses where AI can make a difference, whether that's from the DeepMind work on Alphafold [responsible for] protein folding, making 200 million protein structures available for biologists all around the world to accelerate drug discovery and research,” Mr Brittin said.

Google was among the first companies to work on the parameters needed to handle AI and published a list of “principles” about its use of AI.

They include guidelines on the use of datasets, bias and collaboration. DeepMind, a company bought by Google in 2014, publishes papers and models and makes libraries available.

“We've encouraged an open discussion with policymakers around how do we harness this for good? How do we help people understand what's quite a technical capability … we haven't necessarily done a brilliant job of explaining that in human terms,” Mr Brittin said.

Business Extra podcast in Davos: CEO of Tech Mahindra on the ‘good’ recession

He is concerned about the geopolitical ramifications of the current era on technology. “We are seeing fragmentation of the globalisation system that we kind of took for granted. And frankly, it's a western-led globalised system that everybody's benefited from … but we're entering different political terrain,” he said.

One of the issues Google is concerned with is maintaining an open internet, but it is beginning to consider how to plan if there is a “decoupling”.

While Mr Brittin did not speak about China specifically, “decoupling” usually refers to China and the West. “Resilience, cybersecurity, these are issues where actually international infrastructure and capability is important. So I think getting the balance right in these things is vital,” he said.

He said “we’ve got this sort of breakdown of geopolitical alignment, and we need to be really thoughtful about that in the context of actors like Russia and China with different systems”. But there are also issues among close western allies. Mr Brittin said one of the biggest challenges has been “the lack of a transatlantic agreement and data flows”, despite the US and EU saying they will work through the issues.

As for online safety, all of Google’s platforms, but particularly YouTube, are heavily invested in clamping down on harmful content, while respecting freedom of expression.

Mr Brittin said “this is always a set of moving targets” and that, as technology develops, policies and measures need to be updated.

“Who would have thought we needed a policy around ‘does 5G technology cause Covid?’ but we did,” he quipped while explaining the need for measures to tackle misinformation during the pandemic.

Preparations for World Economic Forum in Davos — in pictures

  • World Economic Forum delegates arrive at the Davos Congress Centre in Switzerland, on Monday. Reuters
    World Economic Forum delegates arrive at the Davos Congress Centre in Switzerland, on Monday. Reuters
  • Solar panels on the rooftop of the centre. Bloomberg
    Solar panels on the rooftop of the centre. Bloomberg
  • Swiss police on duty in the Swiss resort town. Reuters
    Swiss police on duty in the Swiss resort town. Reuters
  • A traffic jam on a road leading to the venue of the forum. Reuters
    A traffic jam on a road leading to the venue of the forum. Reuters
  • The Davos Congress Centre is the venue of the WEF's Annual Meeting. Reuters
    The Davos Congress Centre is the venue of the WEF's Annual Meeting. Reuters
  • Visitors queue outside Ukraine's pavilion in Davos. Reuters
    Visitors queue outside Ukraine's pavilion in Davos. Reuters
  • Police officers on patrol. Bloomberg
    Police officers on patrol. Bloomberg
  • A police officer stands guards and keeps a watchful eye from the roof of a nearby hotel. AP
    A police officer stands guards and keeps a watchful eye from the roof of a nearby hotel. AP
  • Equipment at the Arctic Basecamp pavilion is checked before the start of the forum. Bloomberg
    Equipment at the Arctic Basecamp pavilion is checked before the start of the forum. Bloomberg
  • All eyes will be on Ursula von der Leyen, the European Commission President, who will deliver the first major address to this year's forum on Tuesday. Photo: WEF
    All eyes will be on Ursula von der Leyen, the European Commission President, who will deliver the first major address to this year's forum on Tuesday. Photo: WEF
  • The Russia-Ukraine war is one that is on the mind of officials and executives attending the WEF's Annual Meeting in Davos. Photo: WEF
    The Russia-Ukraine war is one that is on the mind of officials and executives attending the WEF's Annual Meeting in Davos. Photo: WEF
  • Another shadow cast over Davos this week is that of the global economy, with the World Bank cutting its growth outlook for 2023. Photo: WEF
    Another shadow cast over Davos this week is that of the global economy, with the World Bank cutting its growth outlook for 2023. Photo: WEF
  • Officials and economists are expected to assess the severity of an expected global recession and find ways to mitigate its impact. Photo: WEF
    Officials and economists are expected to assess the severity of an expected global recession and find ways to mitigate its impact. Photo: WEF
  • Issues such as soaring food and energy prices worldwide and the outlook for Europe's economy will be front and centre. Photo: WEF
    Issues such as soaring food and energy prices worldwide and the outlook for Europe's economy will be front and centre. Photo: WEF
  • Another key feature is the presence in full of major technology companies. Photo: WEF
    Another key feature is the presence in full of major technology companies. Photo: WEF
  • Tech executives are expected to highlight their companies' potential amid questions about the financial woes they faced last year. Photo: WEF
    Tech executives are expected to highlight their companies' potential amid questions about the financial woes they faced last year. Photo: WEF
  • A visitor tries out a virtual reality headset at a pavilion before the start of the forum's Annual Meeting. Bloomberg
    A visitor tries out a virtual reality headset at a pavilion before the start of the forum's Annual Meeting. Bloomberg
  • Security guards stand at an entrance to an inflatable tunnel at the venue in Davos. Bloomberg
    Security guards stand at an entrance to an inflatable tunnel at the venue in Davos. Bloomberg
  • People walk in front of the Davos Congress Centre on Sunday. AP
    People walk in front of the Davos Congress Centre on Sunday. AP
  • A display of artificial coral inside the Davos Congress Centre. AP
    A display of artificial coral inside the Davos Congress Centre. AP
  • A banner above the steps to the Davos Congress Centre. AP
    A banner above the steps to the Davos Congress Centre. AP
  • Police officers patrol the Davos Congress Centre in Davos. EPA
    Police officers patrol the Davos Congress Centre in Davos. EPA
  • A sign goes up in the main hall of the Davos Congress Centre on Sunday. EPA
    A sign goes up in the main hall of the Davos Congress Centre on Sunday. EPA
  • This will be the first full in-person meeting of the WEF since Covid-19 crippled much of global conferencing activity. EPA
    This will be the first full in-person meeting of the WEF since Covid-19 crippled much of global conferencing activity. EPA
  • Preparations in the main hall on Sunday. EPA
    Preparations in the main hall on Sunday. EPA
  • This year’s Davos theme is 'Co-operation in a fragmented world'. Photo: WEF
    This year’s Davos theme is 'Co-operation in a fragmented world'. Photo: WEF
  • There will probably be concerns on the outlook for cryptocurrencies after the collapse of FTX. Photo: WEF
    There will probably be concerns on the outlook for cryptocurrencies after the collapse of FTX. Photo: WEF
  • Delegates are also expected to discuss concerns about a new wave of Covid-19 variants. Photo: WEF
    Delegates are also expected to discuss concerns about a new wave of Covid-19 variants. Photo: WEF
  • This is the 52nd Annual Meeting hosted by the forum. Photo: WEF
    This is the 52nd Annual Meeting hosted by the forum. Photo: WEF
  • Staff put the final touches to one of the conference halls in Davos. Photo: WEF
    Staff put the final touches to one of the conference halls in Davos. Photo: WEF

Google uses a mix of AI and human judgment to carry out content moderation. But he said users also had to be careful.

“People have to recognise that the internet and the real world are similar. You wouldn't put your daughter out on the streets and let her navigate the world. And the same thing I think applies to the internet.

“It's like the real world - there are places where you need to be and there are places where you where you might not want to go.”

But on the whole, Mr Brittin is optimistic about the future. With more than 60 per cent of the world’s population online, the opportunities are abundant.

“Anybody who creates content, anybody who sells things, anybody who is in entertainment can reach a global audience,” he said. The potential of that reach represents “a huge opportunity to really help people think differently about economic opportunity”.

“When I was a kid, only the world's biggest companies could do international stuff. Now, anybody with a smartphone and an idea can do that,” he said.

As for the economic downturn, there will be opportunities for small businesses, but there will also be a need for workforces to learn new skills.

“A lot of the training we do on digital skills, and a lot of our products are designed to help on that,” Mr Brittin said.

Curtain-raiser for World Economic Forum in Davos - in pictures

  • The World Economic Forum’s annual meeting will take place at Davos-Klosters, Switzerland. Photo: World Economic Forum / Marcel Giger
    The World Economic Forum’s annual meeting will take place at Davos-Klosters, Switzerland. Photo: World Economic Forum / Marcel Giger
  • Fahd Al Rasheed, the chief executive of King Abdullah Economic City. Salah Malkawi for The National
    Fahd Al Rasheed, the chief executive of King Abdullah Economic City. Salah Malkawi for The National
  • IMF managing director Kristalina Georgieva. AFP
    IMF managing director Kristalina Georgieva. AFP
  • Bandar Alkhorayef, Minister of Industry and Mineral Resources in Saudi Arabia. AFP
    Bandar Alkhorayef, Minister of Industry and Mineral Resources in Saudi Arabia. AFP
  • Ohood Al Roumi, Minister of State for Governmental Development and Future, speaks at Davos last year. Bloomberg
    Ohood Al Roumi, Minister of State for Governmental Development and Future, speaks at Davos last year. Bloomberg
  • Dr Thani Al Zeyoudi, Minister of State for Foreign Trade. Pawan Singh / The National
    Dr Thani Al Zeyoudi, Minister of State for Foreign Trade. Pawan Singh / The National
  • Omar Al Olama, chairman of Dubai Chamber of Digital Economy, and vice chairman of the Higher Committee for Future Technology and Digital Economy. Khushnum Bhandari / The National
    Omar Al Olama, chairman of Dubai Chamber of Digital Economy, and vice chairman of the Higher Committee for Future Technology and Digital Economy. Khushnum Bhandari / The National
  • Ayman Safadi, Jordanian Foreign Minister. Reuters
    Ayman Safadi, Jordanian Foreign Minister. Reuters
  • Sultan Ahmed bin Sulayem, group chairman and chief executive of DP World. Antonie Robertson / The National
    Sultan Ahmed bin Sulayem, group chairman and chief executive of DP World. Antonie Robertson / The National
  • Iraqi Foreign Minister, Fuad Hussein. Reuters
    Iraqi Foreign Minister, Fuad Hussein. Reuters
  • Klaus Schwab, founder and executive chairman of the World Economic Forum. EPA
    Klaus Schwab, founder and executive chairman of the World Economic Forum. EPA
  • Qatar's Deputy Prime Minister and Foreign Minister, Sheikh Mohammed bin Abdulrahman Al Thani. AP
    Qatar's Deputy Prime Minister and Foreign Minister, Sheikh Mohammed bin Abdulrahman Al Thani. AP
  • Saudi Arabia's Economy and Planning Minister, Faisal Alibrahim (R), and its Communications and Information Technology Minister, Abdullah bin Amer Alswaha, in Davos last year. EPA
    Saudi Arabia's Economy and Planning Minister, Faisal Alibrahim (R), and its Communications and Information Technology Minister, Abdullah bin Amer Alswaha, in Davos last year. EPA
  • Dutch Defence Minister, Kajsa Ollongren. AFP
    Dutch Defence Minister, Kajsa Ollongren. AFP
  • Mark Carney, co-chairman of Glasgow Financial Alliance for Net Zero and vice chairman of Brookfield Asset Management. Bloomberg
    Mark Carney, co-chairman of Glasgow Financial Alliance for Net Zero and vice chairman of Brookfield Asset Management. Bloomberg
  • Abdullah Alswaha, Saudi Arabia's Minister of Communications and Information Technology. Photo: NCA
    Abdullah Alswaha, Saudi Arabia's Minister of Communications and Information Technology. Photo: NCA
  • Saudi Investment Minister, Khalid Al Falih. AFP
    Saudi Investment Minister, Khalid Al Falih. AFP
  • US special presidential envoy for climate, John Kerry. AP Photo
    US special presidential envoy for climate, John Kerry. AP Photo
  • Sarah Al Amiri, Minister of State for Public Education and Future Technology. Chris Whiteoak / The National
    Sarah Al Amiri, Minister of State for Public Education and Future Technology. Chris Whiteoak / The National
  • Egyptian Foreign Minister, Sameh Shoukry. EPA
    Egyptian Foreign Minister, Sameh Shoukry. EPA
  • Artist and designer Maya Lin. AP
    Artist and designer Maya Lin. AP
  • Princess Reema bint Bandar Al Saud, vice president for development and planning of the Saudi Arabian General Sports Authority, at Davos in 2018. Photo: World Economic Forum / Boris Baldinger
    Princess Reema bint Bandar Al Saud, vice president for development and planning of the Saudi Arabian General Sports Authority, at Davos in 2018. Photo: World Economic Forum / Boris Baldinger
  • Desmond Kuek, chief executive of Temasek Trust. Photo: Temasek Trust
    Desmond Kuek, chief executive of Temasek Trust. Photo: Temasek Trust
  • UN special envoy for Yemen, Hans Grundberg. Reuters
    UN special envoy for Yemen, Hans Grundberg. Reuters
  • Saudi Arabia's Crown Prince Mohammed bin Salman. Reuters
    Saudi Arabia's Crown Prince Mohammed bin Salman. Reuters
  • Mohammed Al Jadaan, Saudi Arabia's Finance Minister. Bloomberg
    Mohammed Al Jadaan, Saudi Arabia's Finance Minister. Bloomberg
  • Idris Elba and Sabrina Dhowre Elba. AP
    Idris Elba and Sabrina Dhowre Elba. AP
  • Hessa bint Essa Buhumaid, Minister of Community Development. Victor Besa / The National
    Hessa bint Essa Buhumaid, Minister of Community Development. Victor Besa / The National
  • Saudi Minister of State for Foreign Affairs, Adel Al Jubeir. AFP
    Saudi Minister of State for Foreign Affairs, Adel Al Jubeir. AFP
  • Badr Jafar, founder of Pearl Initiative. Antonie Robertson / The National
    Badr Jafar, founder of Pearl Initiative. Antonie Robertson / The National
  • Khaldoon Al Mubarak, managing director and group chief executive of Mubadala. Pawan Singh / The National
    Khaldoon Al Mubarak, managing director and group chief executive of Mubadala. Pawan Singh / The National
  • British actor Idris Elba. AFP
    British actor Idris Elba. AFP
  • Finnish Foreign Minister, Pekka Haavisto. AFP
    Finnish Foreign Minister, Pekka Haavisto. AFP
  • Rania Al Mashat, Egypt's Tourism Minister. Bloomberg
    Rania Al Mashat, Egypt's Tourism Minister. Bloomberg
  • The American soprano Renee Fleming with the Dresden Philharmonic, conducted by Sascha Goetzel, at the Abu Dhabi Festival. Fatima Al Marzooqi / The National
    The American soprano Renee Fleming with the Dresden Philharmonic, conducted by Sascha Goetzel, at the Abu Dhabi Festival. Fatima Al Marzooqi / The National
  • US senator Chris Coons. AFP
    US senator Chris Coons. AFP
  • Abdulatif Rashid, President of Iraq. AFP
    Abdulatif Rashid, President of Iraq. AFP
  • Najla Bouden, Prime Minister of Tunisia. AFP
    Najla Bouden, Prime Minister of Tunisia. AFP
  • Bisher Hani Al Khasawneh, Prime Minister of Jordan. AFP
    Bisher Hani Al Khasawneh, Prime Minister of Jordan. AFP

This comes after the pandemic contributed to change in the nature of work. As for Google’s own work practices, Mr Brittin said “there's a huge opportunity for more flexible working”, but there are also concerns about how new work practices affect different groups.

“We're all learning. Data from the pandemic suggests that women's participation in the economies has fallen, people have reduced hours, or stopped working — that's a real problem if you want companies that are run by everyone.”

Clarity in how work and organisations progress will be vital.

“You don’t want to be in a situation where a manager can decide from day to day, who needs to be [where] and when you actually need to get to plan your lives and make sure that it's more flexible.”

Inclusion and structure will be crucial. “At Google, our mission is to organise the world's information and make it useful and accessible for everyone,” he said.

“We've got a big obligation as a tech company, if we're going to have products that work for everyone for them to be built by everyone.”

Google’s plans include hiring more engineers across Europe, the Middle East and Africa, in addition to having engineers from different social and cultural backgrounds.

Cricket World Cup League 2

UAE results
Lost to Oman by eight runs
Beat Namibia by three wickets
Lost to Oman by 12 runs
Beat Namibia by 43 runs

UAE fixtures
Free admission. All fixtures broadcast live on icc.tv

Tuesday March 15, v PNG at Sharjah Cricket Stadium
Friday March 18, v Nepal at Dubai International Stadium
Saturday March 19, v PNG at Dubai International Stadium
Monday March 21, v Nepal at Dubai International Stadium

Funk Wav Bounces Vol.1
Calvin Harris
Columbia

STAGE 4 RESULTS

1 Sam Bennett (IRL) Deceuninck-QuickStep - 4:51:51

2 David Dekker (NED) Team Jumbo-Visma

3 Caleb Ewan (AUS) Lotto Soudal 

4 Elia Viviani (ITA) Cofidis

5 Matteo Moschetti (ITA) Trek-Segafredo

General Classification

1 Tadej Pogacar (SLO) UAE Team Emirates - 12:50:21

2 Adam Yates (GBR) Teamn Ineos Grenadiers - 0:00:43

3 Joao Almeida (POR) Deceuninck-QuickStep - 0:01:03

4 Chris Harper (AUS) Jumbo-Visma - 0:01:43

5 Neilson Powless (USA) EF Education-Nippo - 0:01:45

If you go

The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.

The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.

Ballon d’Or shortlists

Men

Sadio Mane (Senegal/Liverpool), Sergio Aguero (Aregentina/Manchester City), Frenkie de Jong (Netherlans/Barcelona), Hugo Lloris (France/Tottenham), Dusan Tadic (Serbia/Ajax), Kylian Mbappe (France/PSG), Trent Alexander-Arnold (England/Liverpool), Donny van de Beek (Netherlands/Ajax), Pierre-Emerick Aubameyang (Gabon/Arsenal), Marc-Andre ter Stegen (Germany/Barcelona), Cristiano Ronaldo (Portugal/Juventus), Alisson (Brazil/Liverpool), Matthijs de Ligt (Netherlands/Juventus), Karim Benzema (France/Real Madrid), Georginio Wijnaldum (Netherlands/Liverpool), Virgil van Dijk (Netherlands/Liverpool), Bernardo Silva (Portugal/Manchester City), Son Heung-min (South Korea/Tottenham), Robert Lewandowski (Poland/Bayern Munich), Roberto Firmino (Brazil/Liverpool), Lionel Messi (Argentina/Barcelona), Riyad Mahrez (Algeria/Manchester City), Kevin De Bruyne (Belgium/Manchester City), Kalidou Koulibaly (Senegal/Napoli), Antoine Griezmann (France/Barcelona), Mohamed Salah (Egypt/Liverpool), Eden Hazard (BEL/Real Madrid), Marquinhos (Brazil/Paris-SG), Raheem Sterling (Eengland/Manchester City), Joao Félix(Portugal/Atletico Madrid)

Women

Sam Kerr (Austria/Chelsea), Ellen White (England/Manchester City), Nilla Fischer (Sweden/Linkopings), Amandine Henry (France/Lyon), Lucy Bronze(England/Lyon), Alex Morgan (USA/Orlando Pride), Vivianne Miedema (Netherlands/Arsenal), Dzsenifer Marozsan (Germany/Lyon), Pernille Harder (Denmark/Wolfsburg), Sarah Bouhaddi (France/Lyon), Megan Rapinoe (USA/Reign FC), Lieke Martens (Netherlands/Barcelona), Sari van Veenendal (Netherlands/Atletico Madrid), Wendie Renard (France/Lyon), Rose Lavelle(USA/Washington Spirit), Marta (Brazil/Orlando Pride), Ada Hegerberg (Norway/Lyon), Kosovare Asllani (Sweden/CD Tacon), Sofia Jakobsson (Sweden/CD Tacon), Tobin Heath (USA/Portland Thorns)

 

 

SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FOLD5
%3Cp%3E%3Cstrong%3EMain%20display%3A%3C%2Fstrong%3E%207.6%22%20QXGA%2B%20Dynamic%20Amoled%202X%2C%20Infinity%20Flex%2C%202176%20x%201812%2C%2021.6%3A18%2C%20374ppi%2C%20HDR10%2B%2C%20up%20to%20120Hz%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECover%20display%3A%3C%2Fstrong%3E%206.2%22%20HD%2B%20Dynamic%20Amoled%202X%2C%202316%20x%20904%2C%2023.1%3A9%2C%20402ppi%2C%20up%20to%20120Hz%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Qualcomm%20Snapdragon%208%20Gen%202%2C%204nm%2C%20octa-core%3B%20Adreno%20740%20GPU%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%2012GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECapacity%3A%3C%2Fstrong%3E%20256%2F512GB%20%2F%201TB%20(online%20exclusive)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPlatform%3A%3C%2Fstrong%3E%20Android%2013%2C%20One%20UI%205.1.1%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20camera%3A%3C%2Fstrong%3E%20Triple%2012MP%20ultra-wide%20(f%2F2.2)%20%2B%2050MP%20wide%20(f%2F1.8)%20%2B%2010MP%20telephoto%20(f%2F2.4)%2C%20dual%20OIS%2C%203x%20optical%20zoom%2C%2030x%20Space%20Zoom%2C%20portrait%2C%20super%20slo-mo%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%208K%4024fps%2C%204K%4060fps%2C%20full-HD%4060%2F240fps%2C%20HD%40960fps%3B%20slo-mo%4060%2F240%2F960fps%3B%20HDR10%2B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECover%20camera%3A%3C%2Fstrong%3E%2010MP%20(f%2F2.2)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInner%20front%20camera%3A%3C%2Fstrong%3E%20Under-display%204MP%20(f%2F1.8)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%204400mAh%2C%2025W%20fast%20charging%2C%2015W%20wireless%2C%204.5W%20reverse%20wireless%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%205G%3B%20Wi-Fi%2C%20Bluetooth%205.3%2C%20NFC%20(Samsung%20Pay)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20USB-C%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECards%3A%3C%2Fstrong%3E%20Nano-SIM%20%2B%20eSIM%3B%20dual%20nano-SIMs%20%2B%20eSIM%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Cream%2C%20icy%20blue%2C%20phantom%20black%3B%20online%20exclusives%20%E2%80%93%20blue%2C%20grey%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20Fold5%2C%20USB-C-to-USB-C%20cable%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20Dh6%2C799%20%2F%20Dh7%2C249%20%2F%20Dh8%2C149%3C%2Fp%3E%0A

Top 5 concerns globally:

1. Unemployment

2. Spread of infectious diseases

3. Fiscal crises

4. Cyber attacks

5. Profound social instability

Top 5 concerns in the Mena region

1. Energy price shock

2. Fiscal crises

3. Spread of infectious diseases

4. Unmanageable inflation

5. Cyber attacks

Source: World Economic Foundation

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

ESSENTIALS

The flights

Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes. 

The trip

From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Astra%20Tech%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMarch%202022%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EAbdallah%20Abu%20Sheikh%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20technology%20investment%20and%20development%3Cbr%3E%3Cstrong%3EFunding%20size%3A%3C%2Fstrong%3E%20%24500m%3C%2Fp%3E%0A

Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.

Based: Riyadh

Offices: UAE, Vietnam and Germany

Founded: September, 2020

Number of employees: 70

Sector: FinTech, online payment solutions

Funding to date: $116m in two funding rounds  

Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices

Points about the fast fashion industry Celine Hajjar wants everyone to know
  • Fast fashion is responsible for up to 10 per cent of global carbon emissions
  • Fast fashion is responsible for 24 per cent of the world's insecticides
  • Synthetic fibres that make up the average garment can take hundreds of years to biodegrade
  • Fast fashion labour workers make 80 per cent less than the required salary to live
  • 27 million fast fashion workers worldwide suffer from work-related illnesses and diseases
  • Hundreds of thousands of fast fashion labourers work without rights or protection and 80 per cent of them are women
SERIE A FIXTURES

Saturday Spezia v Lazio (6pm), Juventus v Torino (9pm), Inter Milan v Bologna (7.45pm)

Sunday Verona v Cagliari (3.30pm), Parma v Benevento, AS Roma v Sassuolo, Udinese v Atalanta (all 6pm), Crotone v Napoli (9pm), Sampdoria v AC Milan (11.45pm)

Monday Fiorentina v Genoa (11.45pm)

New schools in Dubai
Voy!%20Voy!%20Voy!
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Omar%20Hilal%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Muhammad%20Farrag%2C%20Bayoumi%20Fouad%2C%20Nelly%20Karim%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
RESULT

Brazil 2 Croatia 0
Brazil: 
Neymar (69'), Firmino (90' 3)    

if you go

The flights

Etihad and Emirates fly direct from the UAE to Seoul from Dh3,775 return, including taxes

The package

Ski Safari offers a seven-night ski package to Korea, including five nights at the Dragon Valley Hotel in Yongpyong and two nights at Seoul CenterMark hotel, from £720 (Dh3,488) per person, including transfers, based on two travelling in January

The info

Visit www.gokorea.co.uk

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
MATCH INFO

Final: England v South Africa, Saturday, 1pm

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

WHAT%20ARE%20THE%20PRODUCTS%20WITHIN%20THE%20THREE%20MAJOR%20CATEGORIES%3F
%3Cp%3E%3Cstrong%3EAdvanced%20materials%3A%3C%2Fstrong%3E%20specifically%20engineered%20to%20exhibit%20novel%20or%20enhanced%20properties%2C%20that%20confer%20superior%20performance%20relative%20to%20conventional%20materials%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAdvanced%20components%3A%3C%2Fstrong%3E%20includes%20semiconductor%20components%2C%20such%20as%20microprocessors%20and%20other%20computer%20chips%2C%20and%20computer%20vision%20components%20such%20as%20lenses%20and%20image%20sensors%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAdvanced%20products%3A%3C%2Fstrong%3E%20includes%20personal%20electronics%2C%20smart%20home%20devices%20and%20space%20technologies%2C%20along%20with%20industry-enabling%20products%20such%20as%20robots%2C%203D%20printing%20equipment%20and%20exoskeletons%3C%2Fp%3E%0A%3Cp%3E%3Cem%3ESource%3A%20Strategy%26amp%3B%3C%2Fem%3E%3C%2Fp%3E%0A

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.”

New UK refugee system

 

  • A new “core protection” for refugees moving from permanent to a more basic, temporary protection
  • Shortened leave to remain - refugees will receive 30 months instead of five years
  • A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
  • To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
  • Under core protection there will be no automatic right to family reunion
  • Refugees will have a reduced right to public funds
INFO

Schools can register for the Abu Dhabi Schools Championships at www.champions.adsc.ae

Updated: January 18, 2023, 9:49 PM