Ed Koch, the colourful and often controversial former mayor of New York City, made it a practice as he walked the streets of his city to stop and ask average citizens: "How am I doing?" It was an effort to learn how they viewed the performance of his administration and its delivery of services. In the aftermath of the global financial crisis, the obvious performance-related question in the Gulf is how countries weathered the storm. The recent Zogby International survey of business executives in Arab Gulf countries provides some of the answers, with data that back up common assumptions and some additional insights as well. And, as in any case when questions are asked and the answer is carefully listened to, sometimes the results can be surprising.
The survey found that optimism has returned to the business community in the Gulf, a sign that the region may have turned the corner following the economic downturn of 2008-2009. Overall, six in 10 executives say that business conditions have improved in their countries, with more than eight in 10 expressing confidence that conditions will improve even further in the next two years. These are but a few of the findings from the survey of chief executives in Saudi Arabia, the UAE and Qatar. Zogby International conducted the study on behalf of Oliver Wyman, an international management consulting firm with a strong presence in the Middle East. It is the second in an ongoing series of semi-annual measurements of business confidence in the Gulf region.
The mood was positive in all three countries covered in the survey, with the most notable changes occurring in the UAE. Business leaders here were especially hard hit by what one prominent Emirati businessman referred to as the "bursting of Dubai's utopic bubble". In our October 2009 survey, 57 per cent of respondents in the UAE reported that the economy was in decline; today that figure has dropped to just 39 per cent. In October, only 45 per cent of business leaders here anticipated an improvement in business conditions in the country over the next two years. Now 74 per cent are optimistic.
Most executives expressed satisfaction with their governments' response to the 2008-2009 crisis. Those in Saudi Arabia, Qatar and Abu Dhabi indicated strong confidence in their governments' performance; in Dubai there was a somewhat negative mood with more than 50 per cent of respondents reporting that their attitude towards government had been undermined by the handling of the crisis. When asked to identify the areas where GCC countries could most improve competitiveness, almost one-half of the business leaders pointed to countries' need to diversify their economies.
Four times as many executives identified greater opportunities in deepening ties with the emerging economies of China and India than with their traditional partners in the developed West. Some said that they saw China's dramatic growth and the perceived ease of doing business in that country as obvious attractions, especially in the face of the uncertainties now facing Europe. In the recent survey, as in our earlier October effort, labour and education reform were identified as the greatest challenges to the region's competitiveness. Especially noted in Dubai and Saudi Arabia's eastern province, executives urged greater transparency, while reducing bureaucracy was a major concern in Abu Dhabi.
In all three countries, executives highlighted the difficulty of starting new businesses in terms of excessive regulations and problems obtaining loans at reasonable rates. This survey, and others of its sort, serve a two-fold purpose. On the one hand, business leaders have an unofficial sounding board where they can voice their concerns. On the other hand, just like Mr Koch's downtown walks, governments get a baseline sense of the mood and needs of a critical sector of society that will drive future growth and development.
And so getting back to the New York mayor's question, in the Gulf the performance review would be "quite good". The bottom line is that business confidence is up, and significantly so when compared to many other regions of the world, including the US. And no wonder. The region weathered a difficult worldwide downturn with governments wisely using reserves both to insure stability and promote growth.
Nevertheless, concerns remain in important areas. Singled out for attention were the region's dependence on foreign labour; the challenge of modernising the educational system (especially in the areas of primary education, basic maths and science skills and technical training); and easing the way for entrepreneurs to start new businesses, which is key to needed job creation. These are issues that the business leaders say must be addressed to ensure continued prosperity and future competitiveness. James Zogby is the president of the Arab American Institute.
Honeymoonish
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Day 3, Dubai Test: At a glance
Moment of the day Lahiru Gamage, the Sri Lanka pace bowler, has had to play a lot of cricket to earn a shot at the top level. The 29-year-old debutant first played a first-class game 11 years ago. His first Test wicket was one to savour, bowling Pakistan opener Shan Masood through the gate. It set the rot in motion for Pakistan’s batting.
Stat of the day – 73 Haris Sohail took 73 balls to hit a boundary. Which is a peculiar quirk, given the aggressive intent he showed from the off. Pakistan’s batsmen were implored to attack Rangana Herath after their implosion against his left-arm spin in Abu Dhabi. Haris did his best to oblige, smacking the second ball he faced for a huge straight six.
The verdict One year ago, when Pakistan played their first day-night Test at this ground, they held a 222-run lead over West Indies on first innings. The away side still pushed their hosts relatively close on the final night. With the opposite almost exactly the case this time around, Pakistan still have to hope they can salvage a win from somewhere.
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
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T20 World Cup Qualifier
October 18 – November 2
Opening fixtures
Friday, October 18
ICC Academy: 10am, Scotland v Singapore, 2.10pm, Netherlands v Kenya
Zayed Cricket Stadium: 2.10pm, Hong Kong v Ireland, 7.30pm, Oman v UAE
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Ashfaq Ahmed, Rameez Shahzad, Darius D’Silva, Mohammed Usman, Mohammed Boota, Zawar Farid, Ghulam Shabber, Junaid Siddique, Sultan Ahmed, Imran Haider, Waheed Ahmed, Chirag Suri, Zahoor Khan
Players out: Mohammed Naveed, Shaiman Anwar, Qadeer Ahmed
Players in: Junaid Siddique, Darius D’Silva, Waheed Ahmed
HOSTS
T20 WORLD CUP
2024: US and West Indies; 2026: India and Sri Lanka; 2028: Australia and New Zealand; 2030: England, Ireland and Scotland
ODI WORLD CUP
2027: South Africa, Zimbabwe and Namibia; 2031: India and
Bangladesh
CHAMPIONS TROPHY
2025: Pakistan; 2029: India
Killing of Qassem Suleimani
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
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Brief scores:
Manchester City 3
Aguero 1', 44', 61'
Arsenal 1
Koscielny 11'
Man of the match: Sergio Aguero (Manchester City)
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TOURNAMENT INFO
Women’s World Twenty20 Qualifier
Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November
UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Killing of Qassem Suleimani
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MATCH INFO
France 3
Umtiti (8'), Griezmann (29' pen), Dembele (63')
Italy 1
Bonucci (36')
UAE tour of the Netherlands
UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match
