ABU DHABI // A state minister will face questions on Tuesday in the Federal National Council over the increasing divorce rate among Emiratis.
Official statistics show an increase in the number of divorces last year compared with 2012.
Mariam Al Roumi, Minister of Social Affairs, will appear before the council on Tuesday to answer questions about the increase.
Ali Al Nuaimi (Ajman) wants to know what steps the ministry has taken to address the issue.
“I wanted to ask ... particularly about the programme launched by the ministry to strengthen family cohesion and reduce divorce rates,” he said.
“The increase affects family bonds. This is something that needs to be studied and needs a solution.”
Increasing divorce rates have long been debated in the UAE. Between 2009 and 2011, the number of divorce cases in Dubai increased by 40 per cent for expatriate couples and 7 per cent for Emirati couples.
In 2012, Dubai court issued more than 1,100 divorce certificates, a 26 per cent increase from 2011.
Council members will also discuss with the minister the policies governing the cooperative societies.
A study by an FNC ad hoc committee examined the 1976 law on co-ops and the role of the ministry in supervising and inspecting their work, including prices and their accounts.
The study also looked into how the ministry was spreading awareness and encouraging co-op work.
Mr Al Nuaimi, who headed the committee that conducted the study, said their recommendations would be directed at ensuring co-ops offered affordable prices to low-income people.
While it has not yet been revealed which ministers will attend the session, the council’s agenda lists questions to four others, covering sports, health and social issues.
Mosabeh Al Ketbi (Sharjah) will question the Minister of Environment and Water, Dr Rashid bin Fahad, on an unknown camel disease. He said on average about 10 camels a day had died since April.
“There are two types of camels. Ones that are for racing and the others that are bred,” he said. “The ministry previously said this was not a pandemic, but it is. In Dhiad, Sharjah, a number of camels have died. The minister has sent out vets who confirmed it was not related to the Ebola virus. But then what is it?”
He said the issue was affecting Emiratis in the country who might spend up to Dh1 million on a camel that sometimes died within a few days.
Mr Al Ketbi will also question him over Emirati farmers’ losses in the north – an issue previously raised in the council.
“Today, the whole world cares about local produce,” he said. “It is the opposite in the UAE. Farmers have left the profession because of lack of support.”
Dr Sheikha Al Ari (UAQ) will question Sheikh Nahyan bin Mubarak, Minister of Culture, Youth and Society Development, over establishing female-only sports clubs in the Northern Emirates.
She said the lack of such clubs has been criticised by the public.
Hamad Al Rahoomi (Dubai) will quiz Dr Abdullah Al Nuaimi, Minister of Public Works and chairman of the national transport authority, on terms to register boats and cruise ships in the country following a debate last week, when the member complained to the Minister of Environment that the rise in the number of registered boats had negative effects, particularly on marine life.
Finally, Ahmed Al Amash (RAK) will question Dr Maitha Al Shamsi, Minister of State and head of the marriage fund, on the “fund’s plans to follow the country’s social policies”.
The public session will be held at the FNC headquarters in Abu Dhabi.
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Singham Again
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What should do investors do now?
What does the S&P 500's new all-time high mean for the average investor?
Should I be euphoric?
No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.
So what happened?
It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.
"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."
Should I buy? Should I sell?
Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.
"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.
All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.
Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.
Will the rally last?
No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.
"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."
MATCH INFO
Uefa Champions League semi-final, second leg result:
Ajax 2-3 Tottenham
Tottenham advance on away goals rule after tie ends 3-3 on aggregate
Final: June 1, Madrid
