Students in class at the Nad Al Hamar Primary School For Basic Education in Dubai.
Students in class at the Nad Al Hamar Primary School For Basic Education in Dubai.

Foundation earmarks Dh3.4m for schools



ABU DHABI // Some of the nation's public schools will receive extra funding from the Emirates Foundation, which is to distribute improvement grants totalling more than Dh3.4 million (US$926,000). The programme is the first joint venture between the foundation and the Ministry of Education since they announced a partnership for improving public schools in June.

Schools will be eligible for grants of up to Dh100,000 (US$27,248), supported by the foundation and private sector partners such as the construction company Darwish Bin Ahmed and Sons. The grants available from the foundation are 20 Dh100,000 awards for improving school libraries; 16 Dh50,000 grants for developing school curricula; and 20 Dh30,000 grants to promote parental participation in schools. The affiliated Takatof Programme will offer grants up to Dh10,000 for secondary schools to promote volunteerism.

"All parties will be involved in the whole process and there will be full transparency," said the Minister of Education, Dr Hanif Hassan. The Emirates Foundation set up the Takatof programme in April 2007, but this is the first time it is offering grants. The other programmes are new to the foundation this year. The decision to focus on enhancing school curricula followed an announcement that the Ministry of Education plans to replace the national curriculum with a standards-based curriculum developed by the Abu Dhabi Education Council.

Despite the Ministry of Education's Dh7 billion (US$1.9bn) annual budget, some public school libraries have only a few books and are not equipped with up-to-date resources such as computers or interactive whiteboards. "One of my schools has a nice library but the other school has no books in the library at all and the school is four years old," said Tina Hathorn, a principal adviser at Salama bint Butti and Um al Emarat school in Al Shamka. "It's a shame to have the room, to have that nice facility but not to have any resources in it."

Ms Hathorn said budgetary limitations made it difficult for public schools to develop improvement programmes on their own. "Their budgets are so small. So whenever the money comes in it's used on facility-type things. There is not a lot of money left over to build up the library. There are some things that are given but it would be nice to have money that could be earmarked specifically for the library and other programmes."

Salama bint Butti and Um al Emarat are trying to develop volunteer programmes. Administrators at both schools are also trying to encourage parents to get more involved. "Oftentimes we have activities and parent meetings and we ask for parents to come and maybe a handful, maybe 30 parents will show up out of the seven or eight hundred students that we have. It would be nice to have more parents involved in their children's education," Ms Hathorn said.

The Emirates Foundation, founded in 2005, will accept grant applications until November. Applicants will be selected by a panel of representatives from the Ministry of Education, the Emirates Foundation, the Abu Dhabi Education Council, the Knowledge and Human Development Authority and private-sector partners. @Email:klewis@thenational.ae

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Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
Anxiety and work stress major factors

Anxiety, work stress and social isolation are all factors in the recogised rise in mental health problems.

A study UAE Ministry of Health researchers published in the summer also cited struggles with weight and illnesses as major contributors.

Its authors analysed a dozen separate UAE studies between 2007 and 2017. Prevalence was often higher in university students, women and in people on low incomes.

One showed 28 per cent of female students at a Dubai university reported symptoms linked to depression. Another in Al Ain found 22.2 per cent of students had depressive symptoms - five times the global average.

It said the country has made strides to address mental health problems but said: “Our review highlights the overall prevalence of depressive symptoms and depression, which may long have been overlooked."

Prof Samir Al Adawi, of the department of behavioural medicine at Sultan Qaboos University in Oman, who was not involved in the study but is a recognised expert in the Gulf, said how mental health is discussed varies significantly between cultures and nationalities.

“The problem we have in the Gulf is the cross-cultural differences and how people articulate emotional distress," said Prof Al Adawi. 

“Someone will say that I have physical complaints rather than emotional complaints. This is the major problem with any discussion around depression."

Daniel Bardsley

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.”

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Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

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Shubh Mangal Saavdhan
Directed by: RS Prasanna
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Series information

Pakistan v Dubai

First Test, Dubai International Stadium

Sun Oct 6 to Thu Oct 11

Second Test, Zayed Stadium, Abu Dhabi

Tue Oct 16 to Sat Oct 20          

 Play starts at 10am each day

 

Teams

 Pakistan

1 Mohammed Hafeez, 2 Imam-ul-Haq, 3 Azhar Ali, 4 Asad Shafiq, 5 Haris Sohail, 6 Babar Azam, 7 Sarfraz Ahmed, 8 Bilal Asif, 9 Yasir Shah, 10, Mohammed Abbas, 11 Wahab Riaz or Mir Hamza

 Australia

1 Usman Khawaja, 2 Aaron Finch, 3 Shaun Marsh, 4 Mitchell Marsh, 5 Travis Head, 6 Marnus Labuschagne, 7 Tim Paine, 8 Mitchell Starc, 9 Peter Siddle, 10 Nathan Lyon, 11 Jon Holland

A MINECRAFT MOVIE

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