The NYU Stern School of Business at NYU Abu Dhabi has launched the The Institute for Global Financial Competitiveness, a new research programme supported by billionaire investor Ray Dalio, founder of Bridgewater Associates.
The institute will analyse and rank international financial centres (IFCs) worldwide, setting a global benchmark from the Middle East for evaluating their competitiveness, innovation and impact.
It seeks to advance understanding of IFCs and their influence on global markets through cutting-edge data science and economic research, according to the university. Its first major publication, the Financial Centres Competitiveness Index (FCCI), will debut at Abu Dhabi Finance Week in December.
The decision was made during high-level discussions between senior officials from the Abu Dhabi government and the leadership of New York University during the Abu Dhabi Investment Trade Mission to New York last week, a source from the Abu Dhabi delegation told The National.
Mr Dalio’s involvement underscores the initiative’s ambition to become a leading source of insight into the future of global finance.
“His contribution reflects our shared goal to better understand how financial systems evolve and compete in an interconnected world,” said Rob Salomon, dean at Stern.
The institute aims to attract academics, policymakers and industry leaders to explore how international financial centres can help create a new analytical framework that measures competitiveness not only in financial and human capital but also in future readiness.
“It marks a pivotal moment in using data science to understand the true status of financial centres globally,” said Ahmed Al Zaabi, chairman of the Abu Dhabi Department of Economic Development.
Soft power
This could be the first regional index of its kind from the Middle East, Amro Zakaria, global financial markets strategist and the founding partner of Kyoto Network and Madarik Ventures, told The National.
"It is strategically vital for cementing the UAE's status as a global financial leader, attracting investment, and projecting soft power."
This eventually "reduces friction to co-operation" in diplomatic, financial, and commercial endeavours he added.
Despite the Middle East’s growing prominence as a financial hub, the region has not established a data-driven benchmark ranking the competitiveness of its international financial hubs at the level of indices from New York, London or Singapore.
"Creating a credible, data-driven index establishes the UAE as a thought leader, strengthening its diplomatic and economic influence," he said, drawing parallels to Abu Dhabi creating Murban Crude Oil Benchmark that gave the UAE a greater voice in the energy market pricing dynamics.
The FCCI could magnify the UAE's methodologies and therefore its ability to shape the financial centres linked to it, he added.
Currently, leading global indices — including the Z/Yen Global Financial Centres Index from London and the Xinhua–IFZ Global Financial Centres Development Index in Shanghai — include Middle Eastern cities such as Dubai, Abu Dhabi, Riyadh and Doha among their ranked centres. However, these rankings originate outside the region, leaving the Middle East without a home-grown equivalent.
Financial authorities in the UAE, Saudi Arabia, Qatar and Bahrain publish detailed reports on their respective markets — such as the Dubai International Financial Centre’s annual fintech review or Saudi Arabia’s Financial Sector Development Programme — yet these remain self-assessment frameworks rather than independent, comparative indices.
At the regional level, the Arab Monetary Fund in Abu Dhabi produces the Arab Financial Development Index, which evaluates financial depth, access, efficiency and stability across Arab economies. While valuable, the AFDI focuses on macro-financial performance rather than ranking financial centres by global competitiveness.
In the case of Abu Dhabi, this index could give the UAE agenda setting power to define what the key financial factors are globally such as sustainability, digital assets, and even Islamic finance.
Mr Zakaria says the UAE has already created its own methodologies in several sectors over the years that are being used as a benchmark such as with free zones and foreign ownership of properties and companies.
"The blueprint is being adopted and talked about everywhere from the US congress to a recent clean energy conference," he said,
Australia men's Test cricket fixtures 2021/22
One-off Test v Afghanistan:
Nov 27-Dec 1: Blundstone Arena, Hobart
The Ashes v England:
Dec 8-12: 1st Test, Gabba, Brisbane
Dec 16-20: 2nd Test, Adelaide Oval, Adelaide (day/night)
Dec 26-30: 3rd Test, Melbourne Cricket Ground, Melbourne
Jan 5-9, 2022: 4th Test, Sydney Cricket Ground, Sydney
Jan 14-18: 5th Test, Optus Stadium, Perth
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Engine: 80 kWh four-wheel-drive
Transmission: eight-speed automatic
Power: 402bhp
Torque: 760Nm
Price: From Dh280,000
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
The specs
Engine: 2.0-litre 4-cyl
Power: 153hp at 6,000rpm
Torque: 200Nm at 4,000rpm
Transmission: 6-speed auto
Price: Dh99,000
On sale: now
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Tell-tale signs of burnout
- loss of confidence and appetite
- irritability and emotional outbursts
- sadness
- persistent physical ailments such as headaches, frequent infections and fatigue
- substance abuse, such as smoking or drinking more
- impaired judgement
- excessive and continuous worrying
- irregular sleep patterns
Tips to help overcome burnout
Acknowledge how you are feeling by listening to your warning signs. Set boundaries and learn to say ‘no’
Do activities that you want to do as well as things you have to do
Undertake at least 30 minutes of exercise per day. It releases an abundance of feel-good hormones
Find your form of relaxation and make time for it each day e.g. soothing music, reading or mindful meditation
Sleep and wake at the same time every day, even if your sleep pattern was disrupted. Without enough sleep condition such as stress, anxiety and depression can thrive.
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
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%3Cp%3E%3Cstrong%3EUAE%20fixtures%20%20%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMonday%2C%20June%2019%20%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3ESri%20Lanka%20v%20UAE%2C%20Queen%E2%80%99s%20Sports%20Club%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EWednesday%2C%20June%2021%20%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EOman%20v%20UAE%2C%20Bulawayo%20Athletic%20Club%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFriday%2C%20June%2023%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EScotland%20v%20UAE%2C%20Bulawayo%20Athletic%20Club%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ETuesday%2C%20June%2027%20%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EIreland%20v%20UAE%2C%20Bulawayo%20Athletic%20Club%3C%2Fp%3E%0A
Results
STAGE
1 . Filippo Ganna (Ineos) - 0:13:56
2. Stefan Bissegger (Education-Nippo) - 0:00:14
3. Mikkel Bjerg (UAE Team Emirates) - 0:00:21
4. Tadej Pogacar (UAE Team Emirates) - 0:00:24
5. Luis Leon Sanchez (Astana) - 0:00:30
GENERAL CLASSIFICATION
1. Tadej Pogacar (UAE Team Emirates) - 4:00:05
2. Joao Almeida (QuickStep) - 0:00:05
3. Mattia Cattaneo (QuickStep) - 0:00:18
4. Chris Harper (Jumbo-Visma) - 0:00:33
5. Adam Yates (Ineos) - 0:00:39
The specs
Engine: 1.6-litre 4-cyl turbo
Power: 217hp at 5,750rpm
Torque: 300Nm at 1,900rpm
Transmission: eight-speed auto
Price: from Dh130,000
On sale: now
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
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MATCH INFO
Uefa Champions League semi-final, first leg
Barcelona v Liverpool, Wednesday, 11pm (UAE).
Second leg
Liverpool v Barcelona, Tuesday, May 7, 11pm
Games on BeIN Sports
RESULTS
6.30pm Maiden (TB) Dh82.500 (Dirt) 1,400m
Winner Meshakel, Royston Ffrench (jockey), Salem bin Ghadayer (trainer)
7.05pm Handicap (TB) Dh87,500 (D) 1,400m
Winner Gervais, Connor Beasley, Ali Rashid Al Raihe.
7.40pm Handicap (TB) Dh92,500 (Turf) 2,410m
Winner Global Heat, Pat Cosgrave, Saeed bin Suroor.
8.15pm Handicap (TB) Dh105,000 (D) 1,900m
Winner Firnas, Royston Ffrench, Salem bin Ghadayer.
8.50pm UAE 2000 Guineas Trial (TB) Conditions Dh183,650 (D) 1,600m
Winner Rebel’s Romance, William Buick, Charlie Appleby
9.25pm Dubai Trophy (TB) Conditions Dh183,650 (T) 1,200m
Winner Topper Bill, Richard Mullen, Satish Seemar
10pm Handicap (TB) Dh102,500 (T) 1,400m
Winner Wasim, Mickael Barzalona, Ismail Mohammed.
How Sputnik V works
The BIO
Favourite piece of music: Verdi’s Requiem. It’s awe-inspiring.
Biggest inspiration: My father, as I grew up in a house where music was constantly played on a wind-up gramophone. I had amazing music teachers in primary and secondary school who inspired me to take my music further. They encouraged me to take up music as a profession and I follow in their footsteps, encouraging others to do the same.
Favourite book: Ian McEwan’s Atonement – the ending alone knocked me for six.
Favourite holiday destination: Italy - music and opera is so much part of the life there. I love it.
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ABU DHABI ORDER OF PLAY
Starting at 10am:
Daria Kasatkina v Qiang Wang
Veronika Kudermetova v Annet Kontaveit (10)
Maria Sakkari (9) v Anastasia Potapova
Anastasia Pavlyuchenkova v Ons Jabeur (15)
Donna Vekic (16) v Bernarda Pera
Ekaterina Alexandrova v Zarina Diyas
