ABU DHABI // New York University will recruit students for its proposed Abu Dhabi campus from hundreds of the world's top secondary schools, according to reports.
The university is understood to be planning to ask about 500 institutions to nominate their top students to apply for admission. University officials declined to comment because the recruiting strategy had not yet been finalised.
The university's student blog site, NYULocal, however, reported that the branch campus would recruit about 100 students from around the world for its first year.
The university has said it will recruit from the US, Middle East, Asia and Europe, among other locales.
Bob Turner of the Abu Dhabi Education Council's education department said NYU's policy of recruiting students globally was "about the process of building intellectual capital" in the city.
Bringing in top-flight students from overseas will generate a world-class institution that would ultimately be of greater benefit to young Emiratis.
"Many students go elsewhere for higher education," he said. "When they see the opportunities in Abu Dhabi, they will see the opportunity to stay here as a natural pathway."
The university's downtown facility, where it will launch degree courses in fall 2010 before moving to a permanent campus on Saadiyat Island, is under construction. It eventually will serve as many as 4,000 students.
Those accepted may receive financial aid.
"No potential student should refrain from applying out of concern that he or she will not be able to afford the cost of attending," the university said in a statement on its website. "Students with the requisite talent will receive financial aid that will ensure that they will be able to attend."
Abu Dhabi is financing the NYU project and the Paris-Sorbonne University facility, which is based in a temporary campus and will move to Reem Island this year.
NYU Abu Dhabi has said it would have full academic freedom and access to all source materials necessary for research.
The university has also published with the Executive Affairs Authority of Abu Dhabi a "statement of labour values" to ensure fair treatment of workers building its campus.
The statement requires that wages be paid and that workers should have at least one day off per week. Construction crews cannot work more than five straight hours without a break, and their breaks must total at least one hour.
Workers must be "treated with dignity and respect" and verbal abuse is banned.
In a letter to NYU's student newspaper, Washington Square News, Dr Hilary Ballon, the deputy vice chancellor of NYU Abu Dhabi, said the statement was "but one example" of the university's philosophy.
"We have also discussed this topic at length with our partners and we will be working closely with them to ensure the highest possible quality of labour standards for those who will be working on the NYU Abu Dhabi campus," she said.
dbardsley@thenational.ae
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John Heminway, Knopff
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
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