Covering the business of education and training

Move over Bill Gates and Warren Buffett. There's another rich dude who wants to make a difference in education...this time in the Arab world.

Here's why:

1. 18% of youths under 15 in the Arab world are illiterate

2. 43% of all women are illiterate

3. The Arab world produces just 0.08% of the world's new books.

4. The Arab world spends just 0.02% of its total GDP on scientific research. (So, what are they doing with all that oil money?!)

5. Unemployment in the Arab world is 14%

Sheik Mohammed bin Rashid al-Maktoum, ruler of Dubai and prime minister of the United Arab Emirates, decided enough was enough. He pledged $10 billion of his own money (made from the world's generous donations) to 'improve the level of education in the Arab world'.

The Sheik is "the first Arab leader who thinks about investing in education, minds, rather than building weapons. He's working on the mental infrastructure of the youth rather than just roads, bridges and buildings."

Perhaps...but the prime minister has also "created tax-free hubs that have drawn brands like Microsoft, Dell, Reuters and CNN to set up shop on the Persian Gulf."

And the new foundation will be based in Dubai, of course.

Still, it's about time someone in the Arab world has set their sites on educating the people there...depending on what they are taught, of course.

Let's hope it's money well spent.