ABU DHABI // Chinese global influence is growing almost as fast as its economy. So when the emerging superpower offered an academic package of Chinese-language and cultural programmes, Zayed University readily accepted.
The UAE's first Confucius Institute is expected to open in 2011 at the new Zayed Campus in Khalifa City.
The institute, which carries the name of the Chinese philosopher, is a non-profit educational organisation that aims to promote the Mandarin language and Chinese culture abroad.
Operating costs for a dedicated reception area, library, multimedia classrooms and staff offices in the new campus would be around US$150,000 (Dh550,000) per year, to be matched dollar-for-dollar by Hanban, Beijing's Chinese-language council.
Hanban runs more than 100 institutes at universities in more than 50 countries, including the US, Egypt, Lebanon, Israel and Britain.
Aside from language courses, special-interest classes might include anything from tai chi to Chinese calligraphy and cooking.
Bob Cryan, the associate provost for academic and international affairs at Zayed University, has pursued the Confucius Institute project for four years.
"Chinese, English and Arabic are going to be the dominant languages," said Dr Cryan, who has travelled extensively in China since 1994. "I believe China needs to be understood politically and socially, and the language needs to be taught. Being here in the Middle East changes nothing."
More than 200,000 Chinese nationals live in the UAE. The plans come as local interest in travelling to China for work was exploding, said Jenny Tang, an Abu Dhabi-based Mandarin teacher who helped to spearhead the Confucius Institute project.
Mrs Tang teaches more than 40 students at her home and at Zayed University's Chinese Academy, established late last year as a show of good faith for Hanban and to gauge regional demand for Chinese-language lessons.
"Just two weeks ago, I got four new students, and it's international - locals, Americans, Canadians, Egyptians, Indians," said Mrs Tang, the only full-time Mandarin teacher at the Chinese Academy.
"Business people want to get to know basic cultural things. What to do, what not to do."
Noura Dalle, 15, was among several teenagers to sign up on their own. She reasoned that Mandarin skills would give her an edge on college and job applications. She is interested in pursuing a career in foreign relations or working for her father's business in Beijing.
"I'm Lebanese and already speak English, Arabic and French, so if I spoke Mandarin that would be great because I know it'll be a huge language later," she said.
Varun Dhaon, 15, has been studying with Mrs Tang for three years. He said he could probably "survive" in China with conversational Mandarin.
He will travel to Beijing later this year for the Model United Nations student gathering.
Varun, an American of Indian descent, can already speak English and Hindi, and "with Chinese I can talk to more than half the world".
If the Confucius Institute project went well, Zayed University could pursue another branch for its Dubai campus, Dr Cryan said.
"It turns out that Sheikh Zayed went to Beijing... we think in 1990, and negotiated a centre for Islamic and Arabic studies," he said.
Sheikh Zayed's original $650,000 donation helped to establish a five-storey UAE centre, dedicated to teaching Arabic and researching Islamic culture, at the Beijing Foreign Studies University (BFSU), said Xue Qing-Guo, the vice dean of Arabic studies at BFSU.
Another $1 million was donated to the BFSU Islamic centre by the Government in 2007.
Mr Xue, who helped to translate into Chinese My Vision, by Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, said the Abu Dhabi institute must still be approved by the National Bureau of the Confucius Institutes in China.
Dr Cryan expected approval to be granted this year.
mkwong@thenational.ae
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more from Janine di Giovanni
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How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
MATCH INFO
Manchester United v Manchester City, Wednesday, 11pm (UAE)
Match is on BeIN Sports
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Company%20Profile
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UAE currency: the story behind the money in your pockets
COMPANY PROFILE
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
Company%20Profile
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What is a Ponzi scheme?
A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
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Biometrics: Touch ID, Face ID
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In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
The Transfiguration
Director: Michael O’Shea
Starring: Eric Ruffin, Chloe Levine
Three stars
The biog
Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
'Ghostbusters: From Beyond'
Director: Jason Reitman
Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace
Rating: 2/5
MATCH INFO
France 3
Umtiti (8'), Griezmann (29' pen), Dembele (63')
Italy 1
Bonucci (36')
The 24-man squad:
Goalkeepers: Thibaut Courtois (Chelsea), Simon Mignolet (Liverpool), Koen Casteels (VfL Wolfsburg).
Defenders: Toby Alderweireld (Tottenham), Thomas Meunier (Paris Saint-Germain), Thomas Vermaelen (Barcelona), Jan Vertonghen (Tottenham), Dedryck Boyata (Celtic), Vincent Kompany (Manchester City).
Midfielders: Marouane Fellaini (Manchester United), Axel Witsel (Tianjin Quanjian), Kevin De Bruyne (Manchester City), Eden Hazard (Chelsea), Nacer Chadli (West Bromwich Albion), Leander Dendoncker (Anderlecht), Thorgan Hazard (Borussia Moenchengladbach), Youri Tielemans (Monaco), Mousa Dembele (Tottenham Hotspur).
Forwards: Michy Batshuayi (Chelsea/Dortmund), Yannick Carrasco (Dalian Yifang), Adnan Januzaj (Real Sociedad), Romelu Lukaku (Manchester United), Dries Mertens (Napoli).
Standby player: Laurent Ciman (Los Angeles FC).
A cryptocurrency primer for beginners
Cryptocurrency Investing for Dummies – by Kiana Danial
There are several primers for investing in cryptocurrencies available online, including e-books written by people whose credentials fall apart on the second page of your preferred search engine.
Ms Danial is a finance coach and former currency analyst who writes for Nasdaq. Her broad-strokes primer (2019) breaks down investing in cryptocurrency into baby steps, while explaining the terms and technologies involved.
Although cryptocurrencies are a fast evolving world, this book offers a good insight into the game as well as providing some basic tips, strategies and warning signs.
Begin your cryptocurrency journey here.
Available at Magrudy’s , Dh104
MATCH INFO
World Cup qualifier
Thailand 2 (Dangda 26', Panya 51')
UAE 1 (Mabkhout 45 2')
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
Our family matters legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Tree of Hell
Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla
Director: Raed Zeno
Rating: 4/5
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5