ABU DHABI // With less than a week until nominations for the Abu Dhabi Awards close, organisers are urging residents to propose unsung heroes for the capital's highest honour.
Almost five weeks after voting began on April 21, thousands of nominations have come in via hundreds of booths in the city and a fleet of specially branded touring cars that can be flagged down.
Nominations have also arrived by email, post and phone, but organisers want to see more names before polls close on Friday.
"It has been a great response so far," a member of the organising committee said. "It is positive to see the numbers of nominations increase day by day.
"Each year we have tried to make it easier for people to nominate and we now have more than 100 drop-off points and manned stations across Abu Dhabi, as well as the free number, 800 3331, an online nominations form and our fleet of cars that can be flagged down.
"Normally in the final stage of the nominations period, we see a late surge and we would say to those who have not yet nominated that it a great feeling to do so."
"We want to remind everyone that people can make more than one nomination, although we are asking for quality rather than quantity," the organiser said.
The awards, established in 2005, honour compassionate individuals or organisations who have selflessly volunteered their time, at home or abroad, to build and support the community of Abu Dhabi.
The theme of this year's awards is Goodness Knows No Limits, which, organisers hope will dispel any impressions of exclusivity.
Everyone, young and old, Emirati or expatriate, women or men are eligible.
With the emphasis this year on encouraging younger voters, children as young as 6 up to university students have nominated in their thousands.
Leading the way was the UAE's top figure skater - the Emirati teenager Zahra Lari.
"This is all about local heroes who do not usually get recognition being made to feel special and it's great to be involved," said Zahra, who made history when she became the first female Emirati to compete internationally in figure skating.
Previous Abu Dhabi Award winners include Dr Maha Barakat, who works tirelessly to raise awareness of diabetes and the importance of a healthy lifestyle.
Recently appointed director general of Health Authority Abu Dhabi, Dr Barakat has led many healthy lifestyle campaigns in the emirate including the Diabetes-Knowledge-Action initiative, the I Eat Healthy campaign and the Walk Together marathon.
Recognising that diabetes is one of the UAE's biggest killers, Dr Barakat was also instrumental in establishing the Imperial College London Diabetes Centre in Abu Dhabi.
The Abu Dhabi Awards committee is looking for more people like her.
During the final week of nominations, the awards fleet of cars will continue to tour the emirate to encourage people to suggest individuals who have committed acts of generosity or kindness, or made a positive contribution towards the community.
The fleet has been on the road since April 21, when nominations opened, travelling to schools and universities.
There are also 11 manned booths across the emirate and 90 drop-boxes.
Alternatively, you can post a completed nomination form to PO Box 44442, Abu Dhabi, UAE. More information about where to make a nomination is available at abudhabiawards.ae, where you can also complete an online form.
After nominations are collected and whittled down, Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, will present the awards at a ceremony in December.
jbell@thenational.ae
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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.”
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
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The fourth season of du Football Champions was launched at Gitex on Wednesday alongside the Middle East’s first sports-tech scouting platform.“du Talents”, which enables aspiring footballers to upload their profiles and highlights reels and communicate directly with coaches, is designed to extend the reach of the programme, which has already attracted more than 21,500 players in its first three years.
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