As a general observation, however, it is clear that schooling in Dubai is not yet fulfilling one of the primary purposes of a liberal education: social mobility. Jeffrey E Biteng / The National
As a general observation, however, it is clear that schooling in Dubai is not yet fulfilling one of the primary purposes of a liberal education: social mobility. Jeffrey E Biteng / The National

What are we prepared to do to give equal access to a great education?



Dubai’s top private schools are selective whatever their websites tell you. That is not to say that all schools select on the basis of academic ability. Some select on sporting ability, nationality, ability in spoken English, personal profile or waiting lists.

However, a brief look at the average cost of fees in those schools rated outstanding, good, acceptable and weak shows another very clear form of selection: wealth.

Data recently compiled by schoolscompared.com paints a pretty compelling picture of what you need to get into an outstanding school: money. The average fees in outstanding schools are Dh43,337 per year. In good schools they are Dh23,652 per annum, in acceptable schools they are Dh12,983 and in weak schools they are Dh7,135.

I am aware that I am being slightly disingenuous by looking at groups of schools on average. Some schools provide an outstanding eduction for far less than the average fees. By the same token you could be paying above average at an acceptable school.

As a general observation, however, it is clear that schooling in Dubai is not yet fulfilling one of the primary purposes of a liberal education: social mobility. The “haves” have access to outstanding schools and the “have nots” have not.

This, of course, is the product of a free market education system dominated by big business who see schools as an investment vehicle rather than a medium for social justice. That, however, is a topic for discussion at another time.

The important question, however, is what are we prepared to do to ensure that all the children of Dubai have access to an outstanding education?

The UK is revisiting this same issue now as Theresa May, Britain’s prime minister, has announced her plans for a new raft of grammar schools across England. A 50-year-old debate contests the success of grammar schools at increasing social mobility.

Detractors argue that children with educated, middle class parents are better placed to overcome the hurdles of entrance exams and catchment areas and gain a place at a grammar school. The schools, therefore, become dominated by those who would otherwise attend private school, perpetuating a middle class oligarchy.

Supporters of grammar schools argue that they undermine the advantage of the privileged by enabling the brightest students from poor homes to achieve strong exam results.

There is, however, another model which Dubai could consider adopting, that of Harris Westminster Sixth Form in London.

Its headmaster, James Handscombe, outlined their approach in a blog post on the Spectator website: “Our success in getting our students into top universities is in line with other selective schools. What is unlike other selective schools, however, is the level of deprivation in the student body: a third of the cohort came from backgrounds so deprived that they were entitled to the Pupil Premium.”

To explain, the Pupil Premium is additional funding for publicly funded schools in England to raise the attainment of disadvantaged pupils.

“The national average is 29 per cent and typical selective schools have under 10 per cent,” he continued.

“This success has been achieved by doing something radically different with admissions. Our policy is uncompromising: all students must meet the required standard in the entrance exam and interview but if we are oversubscribed (as we are, with five applications for every place) then students eligible for the Pupil Premium get priority.”

Incredible. How can we do this in Dubai?

There are two obvious routes. The first involves national governments providing the equivalent of Pupil Premium in Dubai. This way all able students would be able to access outstanding education whatever their parents’ level of wealth. This would take a huge investment in education by the state, however.

The other route would involve schools establishing their own educational foundations.

With a fully understandable tightening on fundraising in the UAE to prevent the disbursement of funds to illegal causes, however, the ability of schools to set up educational foundations needs a significant review. The Community Development Authority, the Knowledge and Human Development Authority and the Islamic Affairs and Charitable Activities Department have the power and influence to create and promote a clear and simple route for leading schools in the emirate to fundraise specifically to enhance access to their institutions.

At the moment, however, the process is neither clear nor publicised.

So I will ask the question again: what are we prepared to do to ensure that all the children of Dubai have access to outstanding education? History will be our judge.

Michael Lambert is headmaster of Dubai College

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Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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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.”

Arsenal's pre-season fixtures

Thursday Beat Sydney 2-0 in Sydney

Saturday v Western Sydney Wanderers in Sydney

Wednesday v Bayern Munich in Shanghai

July 22 v Chelsea in Beijing

July 29 v Benfica in London

July 30 v Sevilla in London

THE LIGHT

Director: Tom Tykwer

Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger

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Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

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