ABU DHABI // As dignitaries in New Delhi marked India’s 66th Republic Day on Monday, a local school provided its own take on the celebrations with an impressive procession and cultural show.
About 1,000 pupils and their families were in attendance for the two-hour event at the Abu Dhabi Indian School.
School chairman Dr B R Shetty, who is also the NMC Healthcare chief executive and UAE Exchange co-founder, was the guest of honour.
He was welcomed with a ceremonial guard of honour and a parade of about 500 pupils.
“It was a replica parade of what the Indian armed forces showcased on Republic Day to the nation and international guests,” said school principal N C Vijayachandra.
He expressed his confidence that India would soon emerge as a world superpower.
“The scientific development, especially the successful launch of first Indian-made satellite Mangalyan, has made every Indian proud,” he said.
Addressing the school, Dr Shetty said he was proud that after Mahatma Gandhi, India had another great leader in prime minister Narendra Modi.
“India is progressing significantly under his leadership, be it scientific development, the cleanliness campaign, Smart India campaign, Talent India campaign or Make-in-India campaign,” he said.
Dr Shetty thanked the UAE leadership for providing such a peaceful and prosperous life to Indian expatriates.
“Let’s make the Indo-UAE relations stronger and stronger with each passing day.”
The event also featured dances and patriotic songs.
“The best part of the day was the march-past. For the last two months we were doing rehearsals,” said participant Bipasha Manoj.
The Grade 7 pupil has been living in the UAE for seven years. “One day I want to go back and serve my home country. I don’t know when but surely I will.”
Music teacher Sri Devi said she was very proud of the way her pupils had performed.
“It was the right result of our weeks of hard work and endless rehearsals,” she said. “Music is one of the best ways to showcase your love of the country, and I feel so proud that my students have expressed their feelings in the most melodious way.”
Lolita Pinto, whose nine-year-old daughter Adelle attends the school, said she really enjoyed the function.“It was a proud moment because my child was among those children who sang patriotic songs,” she said, noting that it was crucial to encourage children to participate in such activities.
“It helps in grooming their personalities, especially when you are living far from home.”
At a ceremony at the Indian embassy in Abu Dhabi, ambassador T P Seetharam raised the Indian flag and read a message from the country’s president.
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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.”
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
