Khalifa University professor gets US patent



An academic from Khalifa University has been awarded a US patent for the world’s smallest semiconductor.

Dr Mohamed Rezeq, assistant professor of applied maths and sciences, has been granted the patent for the transistor, which is presumed to consume much less energy than existing technologies. It operates differently to most semiconductors. When in its operation mode electrons jump (tunnel) directly from the nano-metal particles, the basic components of the transistor, into the semiconductor with minimal loss of energy.

Transistors are generally used to amplify and switch electronic signals and electrical power and they are the fundamental building blocks of modern electronic devices, present in all modern electronic systems.

“I couldn’t have done it without the help and support given to me by Khalifa University, especially their internal research fund,” Dr Rezeq said. He also thanked his Master’s reserach student Ahmed Ali, who helped him complete the project in a shorter time than usual.

“Dr Rezeq’s work will very likely lead to a paradigm shift in the semiconductor industry and in particular in transistor design with a huge potential to build electronic devices that are more than 10 times smaller and consume much less power than any of the latest known technologies,” said Dr Mohammed Al Mualla, Senior Vice President for Research and Development at Khalifa University.

“We are very proud of Dr Rezeq for his accomplishments, and we think that it is a testament to the culture of innovation that we try to foster at Khalifa University. We encourage all our faculty to conduct research activities at the highest level, and to involve our students in their advanced research.

In this way we are helping to build the knowledge economy envisioned in Abu Dhabi’s 2030 Vision.”

newsdesk@thenational.ae

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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