• Students take part in a protest in August 2020 through Parliament Square, central London, over the government's handling of exam results.
    Students take part in a protest in August 2020 through Parliament Square, central London, over the government's handling of exam results.
  • Sixth form students protest in London in August 2020.
    Sixth form students protest in London in August 2020.
  • Lauren Lopez, who achieved three A stars and is going to Cambridge University, poses for a photograph in Brixton, London.
    Lauren Lopez, who achieved three A stars and is going to Cambridge University, poses for a photograph in Brixton, London.
  • Students protest outside the Department for Education in London.
    Students protest outside the Department for Education in London.
  • A student displays a sign calling for Gavin Williamson to resign.
    A student displays a sign calling for Gavin Williamson to resign.
  • A student wears a surgical mask while looking at her A Level results at Ffynone House School in Swansea, Wales.
    A student wears a surgical mask while looking at her A Level results at Ffynone House School in Swansea, Wales.
  • A placard with the message 'students not statistics' is displayed during protests in August 2020 in London.
    A placard with the message 'students not statistics' is displayed during protests in August 2020 in London.

Ofqual was forced to abandon plans for leaving certificate to replace A-Levels


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The former chairman of England's exam regulator blamed "humans, not machines" for last year's A-Levels debacle.

Roger Taylor said Ofqual wanted to scrap A-Levels and offer “non-qualification” leaving certificates in their place.

The proposal was rejected by the UK government, which insisted pupils' grades should be calculated using an algorithm.

Acceptance of this decision gave way to uproar, when the machine-predicted grades led to many pupils missing out on their university of choice.

In the face of protests and pressure from the regulator, the Department of Education backed down and turned to teacher assessment to award grades.

This decision solved some of the problems but it was not without its flaws.

A recent study by the University College of London and the London School of Economics found that students whose parents had university degrees were 15 per cent more likely to get better grades through teacher assessment than through the Ofqual algorithm, even after accounting for social background and previous exam results.

Mr Taylor called the decision to use an algorithm a “colossal error of judgment” but he said the problem was not with the technology but in its application.

“The mistakes were made by humans, not machines,” Mr Taylor said, describing the decision to allocate university places on the basis of an estimate as “hopelessly naive”.

Universities should instead have made more places available for the following academic year to mitigate wrongful exclusions, he said.

“This option was, to my knowledge, never seriously considered. But by a painful, chaotic and unplanned route, it is where [we] ended up.”

Mr Taylor questioned the fairness of exams in normal times “when pupils also experience very different levels of educational support, differences that are reflected in the exam results they achieve.”

He was backed by Charlotte Alldritt, director of the Centre for Progressive Policy that commissioned the research.

“The pandemic has shown that examination results can and should only ever be part of a wider set of information available to young people, employers, education providers and policymakers,” she said.

Scoreline

Real Madrid 1
Ronaldo (53')

Atletico Madrid 1
Griezmann (57')

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Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

A German university was a good fit for the family budget

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Shared rental accommodation per month depending on the location ranges between  £200-600

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As proof that the student has the ability to take care of expenses, international students must open a blocked account with about £8,640

Students are permitted to withdraw £720 per month

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City's slump

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D - C Palace, 2-2
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Shahad Al Rawi, Oneworld

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UAE currency: the story behind the money in your pockets
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A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.

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Company name: Farmin

Date started: March 2019

Founder: Dr Ali Al Hammadi 

Based: Abu Dhabi

Sector: AgriTech

Initial investment: None to date

Partners/Incubators: UAE Space Agency/Krypto Labs 

Tributes from the UAE's personal finance community

• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style

“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.

Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term. 

From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”

• Sam Instone, director of financial advisory firm AES International

"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed.  Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."

• Demos Kyprianou, a board member of SimplyFI.org

"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."

• Steve Cronin, founder of DeadSimpleSaving.com

"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.

His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.

Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."

• Zach Holz, who blogs about financial independence at The Happiest Teacher

"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen.  He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”

• Tuan Phan, a board member of SimplyFI.org

"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."

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Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.