Barack Obama is the overwhelming better choice among Middle East residents to become the next US president.
Mr Obama was favoured by 51.1 per cent, while only 8.8 per cent of the respondents chose John McCain, his Republican opponent, in an online survey conducted for The National by Real Opinions, an online research company, this month.
A significant number, 40 per cent, of the 1,022 people surveyed in the Gulf Cooperation Council, non-GCC countries and the Palestinian territories said they did not know or were not sure which candidate was better. However, this is a significant improvement from previous surveys on US and Middle Eastern issues, in which the "don't know" or "no opinion" answers tended to hover around 70 per cent, according to Brendon Ogilvy of Real Opinions. He said in most polls the US level of influence had been perceived as so highly negative that such a large percentage of respondents simply did not think offering an opinion mattered or were "sitting on the fence".
"I am surprised at the lower level of don't knows," Mr Ogilvy said. "Mr Obama has shifted perceptions considerably. McCain has the baggage of the previous administration. We are seeing a fresh face with a different point of view.
"Obama is seen as a departure ? There is enthusiasm for Obama. The level of optimism surrounding Barack Obama is significant."
That was especially true among GCC college students, ages 18 to 25, where Mr Obama scored his highest marks, with 60 per cent favourability. Only 3.78 per cent of those students backed Mr McCain.
The survey, which polled 692 males and 330 females, found that in every participating country, both GCC and non-GCC, Mr Obama was the top choice of those who had an opinion. The countries surveyed were the UAE, Saudi Arabia, Egypt, Jordan, Morocco, Algeria and Syria as well as the Palestinian territories.
Among males, 54.3 per cent chose Mr Obama while 44.3 per cent of females picked the Illinois senator as the best person to lead the United States.
Egyptians offered the most support for Mr Obama with 56.4 per cent backing him.
Only in Jordan (45) and Algeria (47.5) did Mr Obama garner less than 50 per cent of the total number of people surveyed. In Jordan, 50 per cent said they did not know or had no opinion, while in Algeria the number was 45.9 per cent.
Among GCC countries overall, 53.1 per cent chose Mr Obama to 7.49 per cent for Mr McCain. However, 50.7 per cent of females did not know or did not offer an opinion. Mr Ogilvy calls this a cultural trait in Arab countries where so many women are hesitant to speak out.
In the UAE, 53.85 per cent chose Mr Obama, with only 5.77 per cent of the respondents supporting Mr McCain. He scored abysmally among residents of the Palestinian territories with 1.54 per cent of them choosing him.
"Distrust of the Republican Party is felt most acutely" in the territories, Mr Ogilvy said. "It seems McCain is tarred with the same brush."
On four questions - the US economy, the Palestinian-Israeli conflict, the Iranian nuclear issue and Middle East stability - respondents who had an opinion also thought Mr Obama would be by far the best candidate to handle them if he became US president.
Mr Obama "offers hope to people of this region", Mr Ogilvy said. His higher numbers "are evenly distributed across the board".
Mr Obama was considered the better choice (47.4 per cent) to pull the United States out of its financial crisis and handle other economic issues. Mr McCain was chosen by 12 per cent of those surveyed. But as with the overall pick for president, a large number, 40.5 per cent, said they did not know or were unsure. Here, Mr McCain scored one of his highest figures with 15.9 per cent of Egyptians favouring him.
"The economy of Egypt has benefited from the US administration," Mr Ogilvy said, adding that a portion of the people see that and thus think Mr McCain would continue helpful policies. Fifty per cent of UAE residents thought Mr Obama would do a better job on the US economy to 11.5 per cent favouring the Arizona senator.
On the Palestinian-Israeli issue, more people, 50.3 per cent, said they did not know or had no opinion than picked either candidate, with 39.3 per cent saying Mr Obama would do a better job and 10.2 per cent choosing Mr McCain. Only 7.69 per cent of the respondents in the Palestinian territories thought Mr McCain would handle the volatile situation better.
In the UAE, 51.9 per cent said they did not know and 38.46 per cent picked Mr Obama.
The Iran-nuclear issue also found more people not knowing or not sure than picking one of the US presidential candidates; 37.8 per cent did favour Mr Obama, while 10.99 per cent chose Mr McCain.
The survey was completed online by members of a preselected Real Opinions panel. The poll had a margin of error of plus or minus four per cent.
rpretorius@thenational.ae
The story of Edge
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.
It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.
Edge has an annual revenue of $5 billion and employs more than 12,000 people.
Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab
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White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
UAE v Ireland
1st ODI, UAE win by 6 wickets
2nd ODI, January 12
3rd ODI, January 14
4th ODI, January 16
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.”
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
COMPANY%20PROFILE
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The Africa Institute 101
Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction.
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
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
Profile of Bitex UAE
Date of launch: November 2018
Founder: Monark Modi
Based: Business Bay, Dubai
Sector: Financial services
Size: Eight employees
Investors: Self-funded to date with $1m of personal savings