Dr Nawal Al-Hosany is permanent representative of the UAE to the International Renewable Energy Agency
August 26, 2021
Since the launch of the UAE’s National Strategy for the Empowerment of Emirati Women, we have made great strides forward. Today, the country has become a global leader in female empowerment.
One of the primary goals of this initiative – which also gave rise to the occasion of Emirati Women’s Day – was to make the UAE among the top 25 countries in the world for female empowerment. Six years later, it ranks 18th globally and first in the region, according to the UN Development Programme Gender Inequality Index.
Furthermore, government statistics from 2020 show that 77 per cent of Emirati women enroll in higher education after secondary school. And women comprise 70 per cent of all university graduates in the country. Perhaps most importantly for the future of our society, more than half of the government university graduates in the Stem fields (science, technology, engineering and mathematics) are women.
The vision of Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation, is undoubtedly coming to fruition.
Perhaps the greatest testament of this vision to empower Emirati women through education and employment to date is the Emirates Mars Mission. Eighty per cent of the science team behind the mission, which became the first in history to launch a probe from the Arab world into the Martian atmosphere, were women. And the Emirati woman who spearheaded the effort, Sara Al Amiri, Chairwoman of the UAE Space Agency and the UAE’s Minister of Advanced Technology, was named among Time magazine’s Next 100 most influential people in the world.
More and more Emirati women’s voices are being heard at the top echelons of business, enterprise and government on the global stage. Indeed, the UAE had the highest number of women – 23 - on the Forbes list of 100 most powerful Arab businesswomen in 2020.
But the UAE is never content to rest on its laurels. Especially when it comes to issues that are critical to national sustainable development, such as female empowerment.
Earlier this year, Sheikha Fatima, who is affectionately called the Mother of the Nation, launched the UAE National Action Plan for the implementation of UN Security Council Resolution 1325 on Women, Peace and Security. It is a first for a member state of the Gulf Co-operation Council, demonstrating the UAE’s relentless commitment to advancing the role of women, not just in peace and security, but in all aspects of life.
Rania R Saeed, left, and Futtaim Beljaflah have recently completed their personal training certification and are now teaching cycling classes at Crank, Al Quoz. Courtesy Crank
Brigadier Nabeel Abdullah Alrida, Deputy Director of Operations, honours Lt. Khatoon Ali Al Balooshi who has been serving the force in Dubai since 1977. Wam
Fahima Falaknaz hits the pads with UAE national team coach Mohammed Al Shebli. Pawan Singh / The National
Laila Al Dhaheri. Courtesy: Emirates Nuclear Energy Corporation
Badreya Al Marzooqi. Courtesy: Emirates Nuclear Energy Corporation
Amal Al Nuaimi. Courtesy: Emirates Nuclear Energy Corporation
Noran Al Bannai followed her dreams by opening up her own coffee shop. Khushnum Bhandari for The National
Dana Al Hosani has turned her passion for volunteering into her vocation. Antonie Robertson/The National
Amal Al Mansouri records an Arabic language voiceover for a cartoon for local television. Victor Besa / The National
Mariam Othman, Emirati Founder and CEO of Rashid Centre for People with Determination.
Kholoud Al Kendi, founder of Retaj Design, is a young Emirati entrepreneur who left her job as a banker to follow her passion for graphic design Reem Mohammed / The National
Abu Dhabi, United Arab Emirates - Shaima Al Jabry, 39, at her home in Baniyas, is the first Emirati to attain a licence as a life coach on October 17, 2018. (Khushnum Bhandari/ The National)
DUBAI , UNITED ARAB EMIRATES , MAY 9 – 2018 :- Abeer Al Shahi , First Emirati to specialise in sign language during the event held at Meydan hotel in Dubai. ( Pawan Singh / The National ) For News. Story by Ruba Haza
Engineering graduates topped the Ministry of Education study called Majors in Demand. Chris Whiteoak / The National
One of Emirate Airline's youngest pilots, Bakhita Al Muhairi, 23, an Emirati, is pictured in the cockpit alongside a colleague.
As our nation celebrates the 50th anniversary of its foundation, we must continue walking the path that has brought us this far, to a place where the UAE has earned its place among the most progressive countries in the world. But now we must look further ahead: to the next 50 years.
Just as they are vital to the UAE’s space programme, women must be integral to important industries of the future, such as renewable energy, to advance the process of sustainable development.
Globally, women still only account for one third of all employees in renewable energy, according to the International Renewable Energy Agency’s latest data. The UAE can, and must, be a leader and stay ahead of the global curve in this instance. By carrying the momentum of young girls studying Stem fields into renewables, we can unleash the economic potential of our young women and our nation.
We cannot afford to overlook the social and economic dividends of gender equality for the global economy
Educating more girls is the first step to building the economy of the future. The next, and just-as-important step, is getting them into an industry that can affect positive change. To this end, we must explore ways of engaging the Emirati community, through collaborations between energy sector players and schools, so that our young women are immersed in a sector that can turn the tide against climate change. The aim is for them to begin building a legacy of positive change in the vital years ahead of what’s being described as the “decade of action”.
By taking these steps now, the UAE can amplify its impact on the global stage. Speaking at last year’s Global Women’s Forum in Dubai, International Monetary Fund managing director Kristalina Georgieva said that genuine gender equality could lead to more than $170 trillion in additional wealth. And our region, she said, is vital to realising this.
“If we were to bring the Middle East [on] par with the more advanced economies…over the next years, there would be $1 trillion more in output for everyone to share,” Ms Georgieva said.
We cannot afford to overlook the social and economic dividends of gender equality for the global economy. Imagine how that additional wealth could be used to fund research and development efforts into climate change and carbon capture technologies. How it could be used to accelerate a green hydrogen economy. How it could be deployed to achieve fair access to clean energy for all across the developed and developing world alike. Fortunately, the UAE is home to bold, courageous and ambitious young women who are already imagining how to make this a reality.
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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You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
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
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
8.15pm: Nad Al Sheba Trophy – Group 3 (TB) $195,000 (T) 2,810m; Winner: Volcanic Sky, Frankie Dettori, Saeed bin Suroor
8.50pm: Dubai Millennium Stakes – Group 3 (TB) $130,000 (T) 2,000m; Winner: Star Safari, William Buick, Charlie Appleby
9.25pm: Meydan Challenge – Listed Handicap (TB) $88,000 (T) 1,400m; Winner: Zainhom, Dane O’Neill, Musabah Al Muhairi
The Year Earth Changed
Directed by:Tom Beard
Narrated by: Sir David Attenborough
Stars: 4
MATCH INFO
Tottenham 4 (Alli 51', Kane 50', 77'. Aurier 73')
Olympiakos 2 (El-Arabi 06', Semedo')
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
UAE currency: the story behind the money in your pockets
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
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.
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
The flights: South African Airways flies from Dubai International Airport with a stop in Johannesburg, with prices starting from around Dh4,000 return. Emirates can get you there with a stop in Lusaka from around Dh4,600 return. The details: Visas are available for 247 Zambian kwacha or US$20 (Dh73) per person on arrival at Livingstone Airport. Single entry into Victoria Falls for international visitors costs 371 kwacha or $30 (Dh110). Microlight flights are available through Batoka Sky, with 15-minute flights costing 2,265 kwacha (Dh680). Accommodation:The Royal Livingstone Victoria Falls Hotel by Anantara is an ideal place to stay, within walking distance of the falls and right on the Zambezi River. Rooms here start from 6,635 kwacha (Dh2,398) per night, including breakfast, taxes and Wi-Fi. Water arrivals cost from 587 kwacha (Dh212) per person.
The bio
Favourite book: Kane and Abel by Jeffrey Archer
Favourite quote: “The world makes way for the man who knows where he is going.” - Ralph Waldo Emerson, American essayist
Favourite Authors: Arab poet Abu At-Tayyib Al-Mutanabbi
Favourite Emirati food: Luqaimat, a deep-fried dough soaked in date syrup
Hobbies: Reading and drawing
UAE currency: the story behind the money in your pockets
