Essa Kazim, the chief executive of the Dubai Financial Market, was yesterday appointed as the governor of the Dubai International Financial Centre (DIFC).
Starting on January 1, he will replace Abdullah Saleh as the governor of the emirate’s financial free zone.
“This step falls within Dubai’s keenness to continue to bring fresh blood into Dubai’s system by making way for more exceptional and visionary national competencies that have proved their professional worth,” Sheikh Mohammed bin Rashid, Vice President of the UAEand Ruler of Dubai, was quoted as saying by the state news agency Wam.
Mr Kazim is also the chief executive of Borse Dubai, the holding company for the DFM and Nasdaq Dubai. The DFM General Index rose 0.5 per cent yesterday to close at 2,681.47 points.
The DIFC is the largest offshore financial district in the Arabian Gulf and home to the regional offices of banks such as Goldman Sachs Group, Citigroup and Standard Chartered.
Dubai set up DIFC in 2004 with its own regulations and an international stock market to attract foreign banks, asset managers and insurers to help to diversify the economy.
Mr Kazim obtained a bachelor’s degree in mathematics, economics and computer science from Coe College in the United States. He then pursued a master’s degree in economics from the University of Iowa.
He began his career in 1988 as a senior analyst at the Central Bank’s research and statistics department. In 1993, he joined Dubai’s Department of Economic Development until the Government decided to launch the DFM in 2000.
In his tenure as bourse chief, Mr Kazim has supervised the consolidation of Dubai’s two exchanges and the outsourcing of Nasdaq Dubai’s trading, clearing and settling activities to DFM after the latter acquired the former through a cash and share payment.
Mr Saleh was appointed as governor of the DIFC in July 2011 after serving almost four years as chairman at the DIFC’s regulator, the Dubai Financial Services Authority. Before that, he was chairman of National Bank of Dubai until the lender merged with Emirates Bank International to create Emirates NBD.
Following Mr Kazim’s appointment as the DIFC governor, Mr Saleh will retain a position as board member at the financial free zone, the statement said.
* with Bloomberg
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Killing of Qassem Suleimani
UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
The low down on MPS
What is myofascial pain syndrome?
Myofascial pain syndrome refers to pain and inflammation in the body’s soft tissue. MPS is a chronic condition that affects the fascia (connective tissue that covers the muscles, which develops knots, also known as trigger points).
What are trigger points?
Trigger points are irritable knots in the soft tissue that covers muscle tissue. Through injury or overuse, muscle fibres contract as a reactive and protective measure, creating tension in the form of hard and, palpable nodules. Overuse and sustained posture are the main culprits in developing trigger points.
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Releasing these nodules requires a hands-on technique that involves applying gentle sustained pressure to release muscular shortness and tightness. This eliminates restrictions in connective tissue in orderto restore motion and alleviate pain. Therapy balls have proven effective at causing enough commotion in the tissue, prompting the release of these hard knots.
Killing of Qassem Suleimani
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'The worst thing you can eat'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
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4. Lightweight 70kg: Omar Ramadan (EGY) v Abdimitalipov Atabek (KGZ)
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10. Catchweight 90kg: Tarek Suleiman (SYR) v Juscelino Ferreira (BRA)
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Teams
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
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Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
The biog
Prefers vegetables and fish to meat and would choose salad over pizza
Walks daily as part of regular exercise routine
France is her favourite country to visit
Has written books and manuals on women’s education, first aid and health for the family
Family: Husband, three sons and a daughter
Fathiya Nadhari's instructions to her children was to give back to the country
The children worked as young volunteers in social, education and health campaigns
Her motto is to never stop working for the country
Your rights as an employee
The government has taken an increasingly tough line against companies that fail to pay employees on time. Three years ago, the Cabinet passed a decree allowing the government to halt the granting of work permits to companies with wage backlogs.
The new measures passed by the Cabinet in 2016 were an update to the Wage Protection System, which is in place to track whether a company pays its employees on time or not.
If wages are 10 days late, the new measures kick in and the company is alerted it is in breach of labour rules. If wages remain unpaid for a total of 16 days, the authorities can cancel work permits, effectively shutting off operations. Fines of up to Dh5,000 per unpaid employee follow after 60 days.
Despite those measures, late payments remain an issue, particularly in the construction sector. Smaller contractors, such as electrical, plumbing and fit-out businesses, often blame the bigger companies that hire them for wages being late.
The authorities have urged employees to report their companies at the labour ministry or Tawafuq service centres — there are 15 in Abu Dhabi.
