Tunisia’s National Dialogue Quartet was recognised with the Nobel Peace Prize last week. They are, clockwise from top left, Wided Bouchamaoui, president of the Tunisian Union of Industry, Trade and Handicrafts; lawyer Fadhel Mahfoudh; Houcine Abbassi, secretary general of the Tunisian General Labour Union; and Abdessattar Ben Moussa, president of the Tunisian League for Human Rights. Fethi Belaid / AFP
Tunisia’s National Dialogue Quartet was recognised with the Nobel Peace Prize last week. They are, clockwise from top left, Wided Bouchamaoui, president of the Tunisian Union of Industry, Trade and Handicrafts; lawyer Fadhel Mahfoudh; Houcine Abbassi, secretary general of the Tunisian General Labour Union; and Abdessattar Ben Moussa, president of the Tunisian League for Human Rights. Fethi Belaid / AFP
Tunisia’s National Dialogue Quartet was recognised with the Nobel Peace Prize last week. They are, clockwise from top left, Wided Bouchamaoui, president of the Tunisian Union of Industry, Trade and Handicrafts; lawyer Fadhel Mahfoudh; Houcine Abbassi, secretary general of the Tunisian General Labour Union; and Abdessattar Ben Moussa, president of the Tunisian League for Human Rights. Fethi Belaid / AFP
Tunisia’s National Dialogue Quartet was recognised with the Nobel Peace Prize last week. They are, clockwise from top left, Wided Bouchamaoui, president of the Tunisian Union of Industry, Trade and Ha

Nobel prizes: Time for Arab World to stand up and be recognised


  • English
  • Arabic

The great Egyptian writer Naguib Mahfouz accepted the 1988 Nobel Prize for Literature with a joke. “I was told by a foreign correspondent in Cairo that the moment my name was mentioned in connection with the prize, silence fell and many wondered who I was.”

As the author of 34 novels and hundreds of short stories, there was no doubt that Mahfouz was a worthy winner.

“I would like you to accept my talk with tolerance, for it comes in a language unknown to many of you. But it is the real winner of the prize. It is, therefore, meant that its melodies should float for the first time into your oasis of culture and civilisation,” he told the audience in Stockholm.

“I have great hopes that this will not be the last time either, and that literary writers of my nation will have the pleasure to sit with full merit among your international writers who have spread the fragrance of joy and wisdom in this grief-ridden world of ours.”

Over a quarter of a century later, Mahfouz’s hopes are yet to be realised. He remains the only Arab to win the Nobel Prize for Literature, the sole representative of a rich language spoken by more than 340 million people.

Controversy at the Nobel prizes is nothing new, beginning with the fact that the man who founded them, Alfred Nobel, made his fortune from inventing dynamite.

So if last week’s awarding of the Nobel Peace Prize to Tunisia’s National Dialogue Quartet was unexpected, then at least it was met with general approval.

It was also good news in another way. It increased the number of Arabs who have won a Nobel prize by two thirds in a single day.

In announcing the award, the judges hailed the three men and a woman for their “decisive contribution to the building of a pluralistic democracy in Tunisia in the wake of the Jasmine Revolution of 2011”.

“We did it together, the four of us,” said Wided Bouchamaoui, president of the Tunisian Confederation of Industry, Trade and Handicrafts.

Ms Bouchamaoui said the prize meant a lot. “The Tunisian experience is very important. We succeed with dialogue, together”.

The quartet joined a roll call of Arab winners to receive the Peace prize. They include Egyptian president Anwar Sadat in 1978, Palestinian leader Yasser Arafat in 1994, Egyptian politician Mohammed ElBaradei in 2005, and Yemen’s Tawakkol Karman, the first Arab woman to win, in 2011.

Sadat and Arafat received their awards jointly with Israeli leaders.

In 1999, the Nobel Prize for Chemistry was awarded to the Egyptian American Ahmed Zewail “for his studies of the transition states of chemical reactions using femtosecond spectroscopy”.

In total, 10 Arabs have won Nobel prizes since they were instituted in 1901.

Sometimes Arab winners are compiled with Muslim winners, taking the total to 16.

Peace prize winners include the Iranian human rights activist Shirin Ebadi and Malala Yousafzai, the young Pakistani woman shot in the head by the Taliban for promoting education for girls, last year.

Turkey’s Orhan Pamuk won the literature prize in 2006, Pakistan’s Mohammed Abdus Salam the prize for physics in 1979, while this year’s Nobel Prize for Chemistry was won by a team that included the US-based Turkish scientist Aziz Sancar.

One theme that emerges in looking at Arab and Muslim winners is that their recognition often came in the face of great adversary at home, with turmoil, uncertainty and constant threats that have sometimes turned deadly.

Mahfouz survived a stabbing attack by Islamic fundamentalists who accused him of blasphemy, near his home in 1994.

In 1981, Sadat was assassinated by extremists during a military parade commemorating the 1973 October War. Malala was shot in 2012 on her way home from school but recovered to become an even stronger voice for her cause.

Given the small numbers, how long is it likely to be before Mahfouz’s hope for more Arab winners for literature is realised?

“For an Arab writer to win, his or her work must become famous in the West first, since the prize is judged by an overwhelmingly western circle of jurors,” said Zaki Nusseibeh, cultural adviser at the UAE Ministry of Presidential Affairs.

He is also a member of the Permanent Higher Executive Committee of the Sheikh Zayed Book Award and the Board of Trustees of the International Prize for Arabic Fiction.

“One way that can happen is for a good translation of their works to reach the West.

“Book awards, like the Sheikh Zayed Book Award and the International Prize for Arabic Fiction, known as the Arabic Booker, help to highlight some of the new great Arab writing from across the region.

“Only one Arab writer has won, but there have been talks of giving it to [Syrian writer and poet] Adonis, to [Palestinian poet] Mahmoud Darwish and Lebanese writer Amin Maalouf,” said Mr Nusseibeh, who has published translations of Gulf and Arab poetry.

In a career spanning six decades, Adonis, which is a pen name for the Syrian poet, has been a perennial nominee for the Nobel Prize in Literature but never a winner, much to the chagrin of his followers and literary critics over the world.

Known as one of the “greatest living Arab poets” and described by the literary theorist Edward Said as “today’s most provocative and daring Arab poet”, his contribution to Arabic poetry has been compared with that made to English poetry by T S Eliot.

“Part of the reason why some Arab works have not been recognised so far is because of the lack of good translation from Arabic, as opposed, for instance, to the translation of Spanish literature from South America,” said Mr Nusseibeh.

“Fortunately, that has been changing lately with more and more good books being translated into English and into other foreign languages.

“It is a western award, and so the work has to be recognised and famous there. They know a lot about our classics, our ancient Arabic literary heritage, Islamic and pre-Islamic, but not much about modern and contemporary Arab literature.”

One of history’s first novels, the 1001 Arabian Nights, was born in the Middle East, Mr Nusseibeh pointed out.

“But the genre of modern novel writing is fairly recent in the Arab world. Today it has become a predominant feature of the Arab literary heritage and has superseded the genre of poetry writing, which was classically the greatest Arab literary form.

“I am confident that with time, effort and proper awareness and promotion we can regain that honour of the world recognising the greatness of some of our contemporary novelists and poets.”

But in the fields of science and medicine, the Middle East still has a long way to go.

“One of the biggest issues actually starts with us. We don’t promote our own work properly,” said Dr Najat Rashid, a senior consultant in clinical biochemistry and molecular biology, and director of the Ministry of Health’s medical laboratories and blood banks.

The Emirati scientist has written and published five books but said she was known for them by western colleagues rather than those here.

“Things to do with science are not a hit in the Middle East, which is a shame given our amazing history in research, innovation and technology,” she said.

“We are not aware of how to get noticed, what awards are out there, and the steps we have to take to market and perfect our work so that it is recognised internationally.

“We don’t know what it takes to get nominated. We do our work, and then continue to new work, not realising that 50 per cent of the work happens after it is done. We just move on to the next project.

“Many great minds go abroad and get noticed and recognised there, and then they are welcomed back home as heroes and pioneers.”

Arab institutions also often fall short of international centres in terms of creation and innovation.

“Within the fields of science and medicine, it is a great challenge for Arab scientists to win the Nobel prize unless working in western institutions that have superior funding, better exposure and a wider network of scientific research hubs that supports innovation and discovery,” Mr Nusseibeh said.

“Those institutions understand the process involved in getting noticed by these kinds of big international awards.”

He said those that do have a strong history of research and development in the Middle East, such as the older universities of Egypt, Iraq and Syria, have fallen on hard times and struggle with political and social instability, and a lack of funding for development and research.

“The GCC centres of research are getting better and they have partnered with western international counterparts and universities, and so I believe in a few years we can start to see the GCC countries like the UAE getting noticed for their advanced work within the science field,” he said.

For the Nobel Peace Prize, which holds the largest numbers of Arab winners, there is no doubt in Mr Nusseibeh’s mind who should have won over the ages.

“The late Sheikh Zayed should have won the Nobel Prize for Peace ahead of all others and should be put up posthumously,” he said. “Sheikh Zayed dedicated his life to serving humanity.

“He consolidated the foundations for stability and security in the Gulf, led an active Arab and international foreign policy that promoted conciliation and solidarity between all, and allocated a large percentage of his country’s revenues to help and assist nations and individuals on a global scale.

“He acted always in harmony with his deeply held humanist ideology, which preached that all men and women are born equal as members of the same family regardless of religion or race, and that they are destined to work together for creating a better future for all.”

rghazal@thenational.ae

THE LOWDOWN

Photograph

Rating: 4/5

Produced by: Poetic License Motion Pictures; RSVP Movies

Director: Ritesh Batra

Cast: Nawazuddin Siddiqui, Sanya Malhotra, Farrukh Jaffar, Deepak Chauhan, Vijay Raaz

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UAE Premiership

Results
Dubai Exiles 24-28 Jebel Ali Dragons
Abu Dhabi Harlequins 43-27 Dubai Hurricanes

Fixture
Friday, March 29, Abu Dhabi Harlequins v Jebel Ali Dragons, The Sevens, Dubai

Need to know

The flights: Flydubai flies from Dubai to Kilimanjaro airport via Dar es Salaam from Dh1,619 return including taxes. The trip takes 8 hours. 

The trek: Make sure that whatever tour company you select to climb Kilimanjaro, that it is a reputable one. The way to climb successfully would be with experienced guides and porters, from a company committed to quality, safety and an ethical approach to the mountain and its staff. Sonia Nazareth booked a VIP package through Safari Africa. The tour works out to $4,775 (Dh17,538) per person, based on a 4-person booking scheme, for 9 nights on the mountain (including one night before and after the trek at Arusha). The price includes all meals, a head guide, an assistant guide for every 2 trekkers, porters to carry the luggage, a cook and kitchen staff, a dining and mess tent, a sleeping tent set up for 2 persons, a chemical toilet and park entrance fees. The tiny ration of heated water provided for our bath in our makeshift private bathroom stall was the greatest luxury. A standard package, also based on a 4-person booking, works out to $3,050 (Dh11,202) per person.

When to go: You can climb Kili at any time of year, but the best months to ascend  are  January-February and September-October.  Also good are July and August, if you’re tolerant of the colder weather that winter brings.

Do not underestimate the importance of kit. Even if you’re travelling at a relatively pleasant time, be geared up for the cold and the rain.

Defending champions

World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

World Sevens Series standing after Dubai

1. South Africa
2. New Zealand
3. England
4. Fiji
5. Australia
6. Samoa
7. Kenya
8. Scotland
9. France
10. Spain
11. Argentina
12. Canada
13. Wales
14. Uganda
15. United States
16. Russia

Normcore explained

Something of a fashion anomaly, normcore is essentially a celebration of the unremarkable. The term was first popularised by an article in New York magazine in 2014 and has been dubbed “ugly”, “bland’ and "anti-style" by fashion writers. It’s hallmarks are comfort, a lack of pretentiousness and neutrality – it is a trend for those who would rather not stand out from the crowd. For the most part, the style is unisex, favouring loose silhouettes, thrift-shop threads, baseball caps and boyish trainers. It is important to note that normcore is not synonymous with cheapness or low quality; there are high-fashion brands, including Parisian label Vetements, that specialise in this style. Embraced by fashion-forward street-style stars around the globe, it’s uptake in the UAE has been relatively slow.

Revival
Eminem
Interscope

Roll of honour: Who won what in 2018/19?

West Asia Premiership: Winners – Bahrain; Runners-up – Dubai Exiles

UAE Premiership: Winners – Abu Dhabi Harlequins; Runners-up  Jebel Ali Dragons

Dubai Rugby Sevens: Winners – Dubai Hurricanes; Runners-up – Abu Dhabi Harlequins

UAE Conference: Winners  Dubai Tigers; Runners-up  Al Ain Amblers

'Top Gun: Maverick'

Rating: 4/5

 

Directed by: Joseph Kosinski

 

Starring: Tom Cruise, Val Kilmer, Jennifer Connelly, Jon Hamm, Miles Teller, Glen Powell, Ed Harris

 
UAE currency: the story behind the money in your pockets
How to join and use Abu Dhabi’s public libraries

• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.

• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.

• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.

• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.

• For more information visit the library network's website.

Silent Hill f

Publisher: Konami

Platforms: PlayStation 5, Xbox Series X/S, PC

Rating: 4.5/5

Brief scoreline:

Manchester United 0

Manchester City 2

Bernardo Silva 54', Sane 66'

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Alaan%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Parthi%20Duraisamy%20and%20Karun%20Kurien%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%247%20million%20raised%20in%20total%20%E2%80%94%20%242.5%20million%20in%20a%20seed%20round%20and%20%244.5%20million%20in%20a%20pre-series%20A%20round%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
JAPAN SQUAD

Goalkeepers: Masaaki Higashiguchi, Shuichi Gonda, Daniel Schmidt
Defenders: Yuto Nagatomo, Tomoaki Makino, Maya Yoshida, Sho Sasaki, Hiroki Sakai, Sei Muroya, Genta Miura, Takehiro Tomiyasu
Midfielders: Toshihiro Aoyama, Genki Haraguchi, Gaku Shibasaki, Wataru Endo, Junya Ito, Shoya Nakajima, Takumi Minamino, Hidemasa Morita, Ritsu Doan
Forwards: Yuya Osako, Takuma Asano, Koya Kitagawa

Selected fixtures

All times UAE

Wednesday
Poland v Portugal 10.45pm
Russia v Sweden 10.45pm

Friday
Belgium v Switzerland 10.45pm
Croatia v England 10.45pm

Saturday
Netherlands v Germany 10.45pm
Rep of Ireland v Denmark 10.45pm

Sunday
Poland v Italy 10.45pm

Monday
Spain v England 10.45pm

Tuesday
France v Germany 10.45pm
Rep of Ireland v Wales 10.45pm

French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.

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%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2-litre%204-cylinder%20mild%20hybrid%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20S%20tronic%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E265hp%20%2F%20195kW%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20370Nm%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh260%2C000%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20now%3C%2Fp%3E%0A
WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Game Changer

Director: Shankar 

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

Rating: 2/5

Fixtures

Friday Leganes v Alaves, 10.15pm; Valencia v Las Palmas, 12.15am

Saturday Celta Vigo v Real Sociedad, 8.15pm; Girona v Atletico Madrid, 10.15pm; Sevilla v Espanyol, 12.15am

Sunday Athletic Bilbao v Getafe, 8.15am; Barcelona v Real Betis, 10.15pm; Deportivo v Real Madrid, 12.15am

Monday Levante v Villarreal, 10.15pm; Malaga v Eibar, midnight

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)

 

 

LILO & STITCH

Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders

Director: Dean Fleischer Camp

Rating: 4.5/5

The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

MANDOOB
%3Cp%3EDirector%3A%20Ali%20Kalthami%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Mohammed%20Dokhei%2C%20Sarah%20Taibah%2C%20Hajar%20Alshammari%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A%3Cp%3E%3C%2Fp%3E%0A
The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Part three: an affection for classic cars lives on

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially

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.”

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Singham Again

Director: Rohit Shetty

Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5

Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

'Morbius'

Director: Daniel Espinosa 

Stars: Jared Leto, Matt Smith, Adria Arjona

Rating: 2/5

Mission%3A%20Impossible%20-%20Dead%20Reckoning%20Part%20One
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Christopher%20McQuarrie%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Tom%20Cruise%2C%20Hayley%20Atwell%2C%20Pom%20Klementieff%2C%20Simon%20Pegg%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A

Coal Black Mornings

Brett Anderson

Little Brown Book Group 

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COMPANY PROFILE

Company name: Letstango.com

Started: June 2013

Founder: Alex Tchablakian

Based: Dubai

Industry: e-commerce

Initial investment: Dh10 million

Investors: Self-funded

Total customers: 300,000 unique customers every month

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