It has taken a global pandemic for many of us to understand the real meaning behind the adage that value is more important than price. Over the past nine months, companies and governments around the world have had to shift their focus from quarterly results, stock market performance and balancing budgets, to activities centred on business continuity, sustainability and emergency relief.
This year, perhaps more than any other in living memory, has highlighted that the fates of people and businesses around the world are tightly intertwined. Problems at such a scale require global solutions. And this awakening has led to a shared and much-needed reimagining of our priorities.
While many companies will have reconsidered their investment strategies as a result of the Covid-19 pandemic, conscious investing – an investment strategy that seeks to consider financial return while also bringing about social change – is by no means a new phenomenon. In fact, according to a recent survey by UBS Global Wealth Management, 75 per cent of investors in the UAE believe that it will be the norm by 2030. Previous generations may have considered return on investment the primary indicator of success; however, 93 per cent of UAE investors surveyed in the report now believe that choosing sustainable options will not compromise performance.
Comment from The National
Such findings indicate bright futures for start-ups which can demonstrate their unique value, not just in terms of investment performance, but more importantly, in their contributions to society. Previously the domain of philanthropists, charities, NGOs and governments, conscious investing is being adopted by more and more business leaders and organisations who are committed to making profits that bring more than just financial gain.
The Middle East is a natural environment for conscious investing as Islamic finance shares many of the former's aspirations. Despite this, just two to five per cent of impact investments worldwide are currently placed in the MENA region. While nations such as the UAE have been proactive in developing strategies in this space, the region needs to increase support to the start-ups driving this change. In addition, more needs to be done to raise awareness among investors about the many benefits of including conscious investments in their portfolios.
It is disheartening to note that according to the US Bureau of Labour Statistics, the global failure rate for start-ups is around 90 per cent. We cannot predict the impact that their technologies or products could have had on our world. It is also saddening to think that we will never know of their potentially revolutionary ideas. The business community has a shared responsibility to find ways to support promising firms, whether that is through product development, financing or even marketing and branding.
93 per cent of UAE investors surveyed in the report now believe that choosing a sustainable investment will not compromise performance
The UAE is fast emerging as a preferred destination for burgeoning start-ups in the region and globally. With a growing economy, supportive regulatory framework, young pool of talent and a number of government initiatives aimed at boosting the sector, there are significant opportunities for the UAE to play a notable role in this field, by leveraging its growing start-up sector. Government agencies and investors enabling seamless access to early stage funding is key to success.
One such vehicle for achieving this is Angel Rising, an annual symposium held in Abu Dhabi which brings together global and local thought leaders to develop a better understanding of the myriad opportunities that exist for investors interested in social change. Its participants are among the most credible venture investors around the world, who explore global best practices and refining the developing regional investor base. The goal is to help catalyse regional investors and global start-ups to bring transformative products and services to market. The programme also provides a crucial platform for discussing the most pressing challenges facing the sector and how to find the best solutions. This year’s programme highlighted the fact that today’s global challenges are rarely confined to a certain territory. Instead, their effects are being felt extremely widely. If the challenges we face today are global in nature, then collaboration must be central.
Start-ups participating at events such as Angel Rising have the potential to make major contributions to our world for the benefit of all people. They can do this by helping to address environmental and climate challenges, promoting healthier living, improving social inclusion and even safeguarding jobs and communities.
Forums like these play an important role in the Middle East, giving the region’s entrepreneurs the support they need to find the right investors to accelerate their growth. They also give a public platform to debut these promising companies and provide a better understanding of the role that they play in advancing humanity. As a result, many more investors might consider how to integrate conscious portfolios into their financial strategies in the long term, and the benefits of doing so in terms of innovation, profit and social good. This will flow not only into the UAE economy, but to all corners of the region.
Ramesh Jagannathan is Vice Provost for Entrepreneurship at NYUAD, and Managing Director of startAD
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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.
Coming soon
Torno Subito by Massimo Bottura
When the W Dubai – The Palm hotel opens at the end of this year, one of the highlights will be Massimo Bottura’s new restaurant, Torno Subito, which promises “to take guests on a journey back to 1960s Italy”. It is the three Michelinstarred chef’s first venture in Dubai and should be every bit as ambitious as you would expect from the man whose restaurant in Italy, Osteria Francescana, was crowned number one in this year’s list of the World’s 50 Best Restaurants.
Akira Back Dubai
Another exciting opening at the W Dubai – The Palm hotel is South Korean chef Akira Back’s new restaurant, which will continue to showcase some of the finest Asian food in the world. Back, whose Seoul restaurant, Dosa, won a Michelin star last year, describes his menu as, “an innovative Japanese cuisine prepared with a Korean accent”.
Dinner by Heston Blumenthal
The highly experimental chef, whose dishes are as much about spectacle as taste, opens his first restaurant in Dubai next year. Housed at The Royal Atlantis Resort & Residences, Dinner by Heston Blumenthal will feature contemporary twists on recipes that date back to the 1300s, including goats’ milk cheesecake. Always remember with a Blumenthal dish: nothing is quite as it seems.
RESULTS
2.30pm Jaguar I-Pace – Conditions (PA) Dh80,000 (Dirt)
1,600m
Winner Namrood, Antonio Fresu (jockey), Musabah Al Muhairi
(trainer)
3.05pm Land Rover Defender – Maiden (TB) Dh82,500 (D)
1,400m
Winner Shadzadi, Tadhg O’Shea, Bhupat Seemar
3.40pm Jaguar F-Type – Maiden (TB) Dh82,500 (Turf) 1,600m
Winner Tahdeed, Fernando Jara, Nicholas Bachalard
4.15pm New Range Rover – Handicap (TB) Dh87,500 (D) 1,400m
Winner Shanty Star, Richard Mullen, Rashed Bouresly
4.50pm Land Rover – Handicap (TB) Dh95,000 (T) 2,400m
Winner Autumn Pride, Bernardo Pinheiro, Helal Al Alawi
5.25pm Al Tayer Motor – Handicap (TB) Dh95,000 T) 1,000m
Winner Dahawi, Antonio Fresu, Musabah Al Muhairi
6pm Jaguar F-Pace SVR – Handicap (TB) Dh87,500 (D) 1,600m
Winner Scabbard, Sam Hitchcock, Doug Watson
Brief scoreline:
Manchester United 1
Mata 11'
Chelsea 1
Alonso 43'
More from Neighbourhood Watch:
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
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MATCH INFO
Real Madrid 2
Vinicius Junior (71') Mariano (90 2')
Barcelona 0
COMPANY%20PROFILE
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Killing of Qassem Suleimani
COMPANY%20PROFILE
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SPEC SHEET
Display: 10.9" Liquid Retina IPS, 2360 x 1640, 264ppi, wide colour, True Tone, Apple Pencil support
Chip: Apple M1, 8-core CPU, 8-core GPU, 16-core Neural Engine
Memory: 64/256GB storage; 8GB RAM
Main camera: 12MP wide, f/1.8, Smart HDR
Video: 4K @ 25/25/30/60fps, full HD @ 25/30/60fps, slo-mo @ 120/240fps
Front camera: 12MP ultra-wide, f/2.4, Smart HDR, Centre Stage; full HD @ 25/30/60fps
Audio: Stereo speakers
Biometrics: Touch ID
I/O: USB-C, smart connector (for folio/keyboard)
Battery: Up to 10 hours on Wi-Fi; up to 9 hours on cellular
Finish: Space grey, starlight, pink, purple, blue
Price: Wi-Fi – Dh2,499 (64GB) / Dh3,099 (256GB); cellular – Dh3,099 (64GB) / Dh3,699 (256GB)
SUCCESSION%20SEASON%204%20EPISODE%201
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Race results:
1. Thani Al Qemzi (UAE) Team Abu Dhabi: 46.44 min
2. Peter Morin (FRA) CTIC F1 Shenzhen China Team: 0.91sec
3. Sami Selio (FIN) Mad-Croc Baba Racing Team: 31.43sec
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
Washmen Profile
Date Started: May 2015
Founders: Rami Shaar and Jad Halaoui
Based: Dubai, UAE
Sector: Laundry
Employees: 170
Funding: about $8m
Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures
UAE currency: the story behind the money in your pockets
'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.
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
