ABU DHABI // A last-minute rush of applicants yesterday brought the total of candidates who will contest 20 seats at next month's FNC elections to 477.
The number of candidates ranges from 19 in Umm Al Qaiwain to 125 in Dubai, and young people and women are particularly well represented, election officials said after the four-day registration period ended yesterday.
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Yesterday was the last day for Emiratis to file their candidacy papers for the Federal National Council elections to be held on September 24.
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The high percentage of young people between the ages of 21 and 30 in the electoral college is significant, said Dr Anwar Gargash, Minister of Federal National Council Affairs, Minister of State for Foreign Affairs and Chairman of the National Election Committee. "Youth in all Arab countries, including the UAE, represent an important demographic," Dr Gargash said.
Candidates said increased awareness among young people and exposure to international politics had contributed to a growing interest in taking part in the elections.
Maitha Al Dossari, 34, chief operating officer of Emaar Properties, who registered in Dubai yesterday, said: "They have opened the door for the public to come in, which is very important. It's not just for people who are well known, it's open to everyone. That's a healthy part of it."
Organisers at the Abu Dhabi registration centre said most candidates were aged between 30 and 38. Ahmed Mohammed bin Humaidan, head of the Dubai Election Committee, said there had been many young people there too.
"There is a high percentage of youth, and both men and women are participating," he said.
Fatima Al Suwaidi, 47, a former school governess who registered in Abu Dhabi, said she had noticed women were more interested in electing female FNC members this year, and related that to changing views about women's roles in the country.
"Now it is more clear: the importance of women in all fields. And females can see how the Government is giving them attention," she said.
At least 15 women registered as candidates in Abu Dhabi yesterday, and there was also a high number of female candidates in Dubai.
"Women have been participating since day one and have been coming every day to register," Mr Bin Humaidan said.
"However, I believe the percentage of men is slightly higher than women."
The last-minute rush of applicants was particularly noticeable in the capital, where 49 voters arrived to register their candidacy yesterday - more than double the number on the first three days. Organisers were processing applications every five minutes, compared with every 20 or 30 minutes on previous days.
Only three candidates - two on the first day and one on the last - were turned down because they could not provide a certificate of good conduct.
Asked why yesterday's candidate was turned away, Captain Sultan Al Tinaiji, head of the fingerprints section at Abu Dhabi Police, said: "He had a black point because he was previously involved in a criminal case."
In Ajman, the emirate with the highest percentage of registered candidates as a proportion of those eligible, the only hitch came when candidates forgot to bring a letter of approval from their employers.
"We asked most of them to bring this approval paper to be registered," said Saeed Saif Al Matroushi, director of the Ajman Election Committee.
Mansour bin Nassar, director of the Sharjah Election Committee, said candidates had been co-operative with the registrars and the whole process had gone smoothly.
"There was enough awareness and all the candidates turned up with most of the required papers," he said. "In a few cases, we asked people to bring more papers or get photographs taken in a studio we had set up."
In Dubai, Mr bin Humaidan said: "Most of the nominees were satisfied with the process. From the beginning, we started with proper organisation and that will continue until the election day."
Luaya Al Naqbi, a blind man who submitted his papers in Ajman on Tuesday, said the registration process was simple and all the registrars were helpful.
"I have not had any problem in registration," he said. "Everyone seems to be willing to help here - a known spirit of Emiratis."
He said he was taking part to represent the handicapped. "When it comes to political participation, people are obsessed with female participation. What about us?"
Mohammed Ibrahim Saleh, a retired air force officer from Ajman, said he had taken part in the last election in 2006 and was registering for the second time.
"Not much has changed this year in the process of registration since 2006, apart from the increase in the number of voters," he said. "The whole process is smooth and the country's democratisation prospect is bright."
Mr Al Matroushi, director of the Ajman Election Committee, reminded applicants that they are not candidates until the official list is released. "They should consider themselves candidates only once the official approved list is issued," he said.
Objections to candidates will be considered between August 21 and 23, before the final list is announced on August 28.
Candidates will be permitted to campaign from September 4 until three days before the election, which takes place on September 24.
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Rating: 4/5
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
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Company%20Profile
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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.”
North Pole stats
Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
Terrain: Ice rock
South Pole stats
Distance covered: 130km
Temperature: -50°C
Weight of equipment: 50kg
Altitude (metres above sea level): 3,300
Terrain: Flat ice
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
Company profile
Company name: Dharma
Date started: 2018
Founders: Charaf El Mansouri, Nisma Benani, Leah Howe
Based: Abu Dhabi
Sector: TravelTech
Funding stage: Pre-series A
Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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.
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
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From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
The specs
Engine: 2.0-litre turbo 4-cyl
Transmission: eight-speed auto
Power: 190bhp
Torque: 300Nm
Price: Dh169,900
On sale: now
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
The bio
Date of Birth: April 25, 1993
Place of Birth: Dubai, UAE
Marital Status: Single
School: Al Sufouh in Jumeirah, Dubai
University: Emirates Airline National Cadet Programme and Hamdan University
Job Title: Pilot, First Officer
Number of hours flying in a Boeing 777: 1,200
Number of flights: Approximately 300
Hobbies: Exercising
Nicest destination: Milan, New Zealand, Seattle for shopping
Least nice destination: Kabul, but someone has to do it. It’s not scary but at least you can tick the box that you’ve been
Favourite place to visit: Dubai, there’s no place like home
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
COMPANY%20PROFILE
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How to come clean about financial infidelity
- Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
- Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help.
- Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
- Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
- Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported.
Carol Glynn, founder of Conscious Finance Coaching