• A mud brick bearing a cuneiform inscription found during the Girsu Project's excavation at the ancient Sumerian city, now known as Tello, in Iraq in 2021. Recent excavations of the ancient complex have shed new light on the history and development of the city. AFP
    A mud brick bearing a cuneiform inscription found during the Girsu Project's excavation at the ancient Sumerian city, now known as Tello, in Iraq in 2021. Recent excavations of the ancient complex have shed new light on the history and development of the city. AFP
  • For decades, historians have believed that the Sumerians' mastery of irrigation led to their development. Now, the Girsu Project's discoveries suggest that irrigation was not the cause of these changes after all. AFP
    For decades, historians have believed that the Sumerians' mastery of irrigation led to their development. Now, the Girsu Project's discoveries suggest that irrigation was not the cause of these changes after all. AFP
  • A partial view shows the bridge in the city of Girsu. AFP
    A partial view shows the bridge in the city of Girsu. AFP
  • Archaeologists used new technologies to understand the development of the city, flying drones over the vast, 250-hectare site. AFP
    Archaeologists used new technologies to understand the development of the city, flying drones over the vast, 250-hectare site. AFP
  • The images they gathered show the extent to which the irrigation system was embedded throughout the city and its surrounds. AFP
    The images they gathered show the extent to which the irrigation system was embedded throughout the city and its surrounds. AFP
  • Members of the archaeological team at Girsu, southern Iraq, in autumn 2021. Photo: British Museum
    Members of the archaeological team at Girsu, southern Iraq, in autumn 2021. Photo: British Museum
  • A statue of King Gudea found in Girsu, dating from circa 2130 BC. The statue and other items from Iraq are currently on show as part of the Ancient Iraq: New Discoveries exhibition in Nottingham in the UK. Photo: British Museum
    A statue of King Gudea found in Girsu, dating from circa 2130 BC. The statue and other items from Iraq are currently on show as part of the Ancient Iraq: New Discoveries exhibition in Nottingham in the UK. Photo: British Museum
  • The new discovery indicates that the largest irrigation canals date to the prehistory of Mesopotamia. That means they are much older than the birth of the city, by about 1,000 years. AFP
    The new discovery indicates that the largest irrigation canals date to the prehistory of Mesopotamia. That means they are much older than the birth of the city, by about 1,000 years. AFP
  • Archaeologists believed that once the ancient Sumerians learnt to irrigate their crops, they were able to move from subsistence farming to building elaborate temples. But the Girsu Project’s discoveries show that they were living with well-watered plains for a full millennium before they began to build the temple complexes. AFP
    Archaeologists believed that once the ancient Sumerians learnt to irrigate their crops, they were able to move from subsistence farming to building elaborate temples. But the Girsu Project’s discoveries show that they were living with well-watered plains for a full millennium before they began to build the temple complexes. AFP
  • Cuneiform inscription is found during excavation at the ancient Sumerian city of Girsu. AFP
    Cuneiform inscription is found during excavation at the ancient Sumerian city of Girsu. AFP
  • Mud bricks bearing cuneiform inscriptions. AFP
    Mud bricks bearing cuneiform inscriptions. AFP
  • A cone bearing a cuneiform inscription. AFP
    A cone bearing a cuneiform inscription. AFP
  • Archaeologists and workers excavate the ancient Sumerian city of Girsu. AFP
    Archaeologists and workers excavate the ancient Sumerian city of Girsu. AFP
  • Working with archaeologists from five universities in Iraq, the British Museum team dug out shells and other material from the bottom level of the canals to be carbon-dated. AFP
    Working with archaeologists from five universities in Iraq, the British Museum team dug out shells and other material from the bottom level of the canals to be carbon-dated. AFP
  • The last time Girsu was excavated was in the 1960s, when now-standard technologies and archaeological practices were not in place. AFP
    The last time Girsu was excavated was in the 1960s, when now-standard technologies and archaeological practices were not in place. AFP
  • Sumerian scholars have been working off that era’s imperfect knowledge since then, as the US invasion in the 1990s and the ensuing unrest have stalled any archaeological excavation of the site. AFP
    Sumerian scholars have been working off that era’s imperfect knowledge since then, as the US invasion in the 1990s and the ensuing unrest have stalled any archaeological excavation of the site. AFP
  • When the archaeological team arrived in 2021, they found Girsu pockmarked, with depressions in the soil where looters dug up items. AFP
    When the archaeological team arrived in 2021, they found Girsu pockmarked, with depressions in the soil where looters dug up items. AFP
  • The archaeologists' goals were to research the site but also to practice what they call 'forensic archaeology', treating the dig like a crime scene. AFP
    The archaeologists' goals were to research the site but also to practice what they call 'forensic archaeology', treating the dig like a crime scene. AFP
  • A general view shows the excavation site at the ancient Sumerian city of Girsu, known as Tello, in Iraq. AFP
    A general view shows the excavation site at the ancient Sumerian city of Girsu, known as Tello, in Iraq. AFP
  • Young Iraqi archaeologists received training as part of the Girsu Project, headed by Sebastien Rey of the British Museum, centre. Photo: British Museum
    Young Iraqi archaeologists received training as part of the Girsu Project, headed by Sebastien Rey of the British Museum, centre. Photo: British Museum
  • The British Museum excavation team in the ancient city of Girsu. Photo: British Museum
    The British Museum excavation team in the ancient city of Girsu. Photo: British Museum

New discoveries in Iraq upend story of Mesopotamia


Melissa Gronlund
  • English
  • Arabic

New excavations of the ancient complex of Girsu in Iraq, led by the British Museum, have the potential to rewrite accepted histories of the development in Mesopotamia, according to archaeologist Sebastien Rey, after findings from the project have come to light.

For decades, historians have believed that the Sumerians' mastery of irrigation — or the ability to have regular and stable access to water — moved them from subsistence towards the extraordinary feats they are known for: writing, temple complexes, grouping into cities.

Now, the Girsu Project's discoveries suggest that irrigation was not the cause of these changes after all. But the question remains: what was it?

Rey, who is curator of Ancient Mesopotamia at the British Museum, was the lead archaeologist on the project. Girsu, or present-day Tello in southern Iraq, is a city and temple complex erected by the Sumerians in about 3000 to 2000 BC. A paper on the subject will be published later this year, and the British Museum has mounted the exhibition Ancient Iraq: New Discoveries, in Nottingham in the UK, to recontextualise existing artefacts from their collection that come from Girsu and other Sumerian cities.

Members of the archaeological team at Girsu, southern Iraq, in autumn 2021. Photo: British Museum
Members of the archaeological team at Girsu, southern Iraq, in autumn 2021. Photo: British Museum

Rey and his team used new technologies to understand the development of the city, flying drones over the vast, 250-hectare site. The images they gathered show the extent to which the irrigation system was embedded throughout the city and its surrounds.

Heavy rainfall, a product of climate change, also washed away the top layer of the soil, making the outlines even more apparent.

Working with archaeologists from five universities in Iraq, led by Jaafar Jotheri of Al Qadisiyah, the British Museum team dug out shells and other material from the bottom level of the canals to be carbon-dated. The results were startling: the canals seem to have been dug in the fifth millennium BC. .

“The big surprise is that the largest irrigation canals date to the prehistory of Mesopotamia. That means they are much, much older than the birth of the city, by about 1,000 years," says Rey. "Traditionally, what you read is that development in Mesopotamia begins at the end of the fourth millennium, around 3300 BC. That’s when there was an important transition from pre-urban to urban and the invention of writing.

"But the canals that we have dated recently sets the date back to the fifth millennium, which means that irrigation is not the key, the spark that triggered the urban construction and the invention of writing. And that's a really important discovery.”

Before, archeologists believed that once the ancient Sumerians learnt to irrigate their crops, they were able to move from subsistence farming to the social and religious hierarchy that the elaborate temples of Girsu attest to.

But the Girsu Project’s discoveries, which Rey has written up for a paper that has passed peer review but which is still to be published, show that the Sumerians were living with well-watered plains for a full millennium before they began to build the temple complexes.

What changed? What moved the needle towards a more complex society?

Rey speculates that the shift was unrelated to the environment but rather owed to the pattern of thinking of those living in Girsu: an ideological transformation. Temples and administrative buildings allowed the powers ascribed to the gods to reside in one site, which was embedded into a larger social and political structure.

“It was a domestication of the power of the gods,” Rey says, in an adaptation of the phrase usually used for Sumerian development of the domestication of water.

A statue of King Gudea found in Girsu, dating from c. 2130 BC. The statue and other items from Iraq are currently on show as part of Ancient Iraq: New Discoveries in Nottingham in the UK. Photo: The Trustees of the British Museum
A statue of King Gudea found in Girsu, dating from c. 2130 BC. The statue and other items from Iraq are currently on show as part of Ancient Iraq: New Discoveries in Nottingham in the UK. Photo: The Trustees of the British Museum

Girsu is accessible at last

The last time Girsu was excavated was in the 1960s, when now-standard technologies and archaeological practices were not in place. Sumerian scholars have been working off that era’s imperfect knowledge since then, as the US invasion in the 1990s and the ensuing unrest forestalled any archaeological excavation of the site.

In addition, particularly since the 2000s, Girsu had been badly looted. Cones, statues and other votive objects can be found on the black market across the world. In 2018, for instance, the British Museum returned symbolic cones that were used in the Sumerian temple of Girsu. They had been found as part of a raid on a London antiquities dealer.

When the archaeological team arrived last year, they found Girsu pockmarked, with depressions in the soil where looters dug up items. The looting has given the excavation team an added responsibility. Their goal was both to research the site but also to practice what Rey calls “forensic archeology”, treating the dig like a crime scene.

Archaeologists and workers excavate the ancient Sumerian city of Girsu, known as Tello. AFP
Archaeologists and workers excavate the ancient Sumerian city of Girsu, known as Tello. AFP

“We are trying to rescue the site from looting but also from late 19th century and early 20th-century excavations,” he explains. “And we are using Girsu as a case study to teach, and to learn also for ourselves, a method that will help the Iraqis restore their heritage first of all.

“By re-excavating the robber holes, you can find evidence of what the looters left behind — a trail you can work on for provenance, so that when Border Force in the UK contacts us and says we found these objects in a suitcase in Heathrow, we will have a data set to know which objects came from Girsu.”

Looters tend to take unbroken objects, which fetch the highest amount on the market. These undamaged artefacts account for roughly a 10th of all the cones, votive sculptures and artefacts that have lain in the ground for thousands of years.

By scrutinising the Sumerian inscriptions on the cones that have been left behind, however, archaeologists can make connections to those that have been taken, even if they are not fragments of the same object.

Mesopotamian clay cones bearing cuneiform inscriptions are displayed during a handover ceremony of a trove of looted Iraqi antiquities returned by the US in August 2021 at the Ministry of Foreign Affairs in Baghdad. Cones such as these were extensively looted from Girsu and other sites following the 2003 US invasion. AFP
Mesopotamian clay cones bearing cuneiform inscriptions are displayed during a handover ceremony of a trove of looted Iraqi antiquities returned by the US in August 2021 at the Ministry of Foreign Affairs in Baghdad. Cones such as these were extensively looted from Girsu and other sites following the 2003 US invasion. AFP

The Girsu Project in context

The Girsu Project also had another goal: training and mentorship. Working in partnership with Iraq’s State Board of Antiquities and Heritage and five partner universities in Iraq — Mosul, Hillah, Al Qadisiyah, Al Simawa, and Dhi Qar — the project aims to train Iraqi archeologists and conservators and teach them the principles of surveying techniques, excavating artefacts and processing finds.

The two-year scheme, funded by a grant from the Getty, follows on from the British Museum’s previous Iraq Scheme, which likewise emphasised training. The five-year project, funded by the UK government, took place from 2016 to 2021, with an extra year because of Covid delays.

This aspect of the project is key, because in many ways little has changed in the archaeological landscape since the first age of European excavation, which began under colonialism in the late 1800s and early 1900s.

Most of Iraq's archaeological digs are still organised by Western countries, funded by Western countries, and then the information disseminated in Western journals — rarely, if ever, being translated into Arabic for the local Iraqi population to learn about the discoveries made on their watch.

Even the terms of archaeology — discovery, development and an emphasis on an object-based culture — are embedded in a European system of thought, as extensive academic work in the field of decolonising archeology has demonstrated.

Within this context, one of the most laudable elements of the Girsu Project is its ethical standards.

Jotheri, an eminent professor of geoarchaeology at Al Qasidiyah University who worked on the Girsu Project, highlights the importance of mentorship for Iraqi archeology. At Girsu, newly uncovered objects such as votive sculptures, figurines and carved cylinder seals, were conserved as they were being excavated, which gives trainee Iraqi archaeologists a chance to study the objects, rather than a situation where the knowledge gained from the site flows to European laboratories and archeologists. The objects were then given to the Iraq Museum in Baghdad.

Young Iraqi archaeologists received training as part of the Girsu Project, headed by Sebastien Rey of the British Museum, centre front. Photo: British Museum
Young Iraqi archaeologists received training as part of the Girsu Project, headed by Sebastien Rey of the British Museum, centre front. Photo: British Museum

“We have two sides: we have the internationals and we have the Iraqis,” says Jotheri. “From the Iraqi side, the archeologists require equipment, laptops, the training, accommodation and houses, and salaries. Unlike others, the Girsu Project actually engaged more Iraq universities, the local community. They did lots of workshops and attended conferences. They provided counterparts to the experts from the British side.”

However, Jotheri says, this is not the norm. In fact, for Iraq, where the State Board of Antiquities rarely enforces equal partnerships, there remains a two-tier situation for archaeology.

“From the international side, typically, they want everything,” he says. “It’s like colonialist times, they need Iraqi silence. We are their cheap slaves with no voice. They take everything. They treat the archeological site as an oil field. An oil field when the barrel is cheap.”

The Girsu Project might be making groundbreaking discoveries about the development of civilisation in Mesopotamia 5,000 years ago. But the project, and the Iraq Scheme before it, also shed light on the present, and are a reminder that some of the historical practices of archaeology might not be as far in the past as one might think.

Ancient Iraq: New Discoveries is on show at the Djanogly Gallery, Lakeside Arts, Nottingham, UK, until June 19. The exhibition recontextualises older works from the British Museum collection in the light of the Girsu Project's new findings.

Open-air museum in Thi Qar hopes to revive tourism - in pictures

  • A view inside Thi Qar museum
    A view inside Thi Qar museum
  • Artifacts inside Thi Qar museum
    Artifacts inside Thi Qar museum
  • The Great Ziggurat temple, a massive Sumerian stepped mudbrick construction dedicated to the moon god Nanna which dates back to 2100 BC in the ancient city of Ur that falls now in southern Iraq's Dhi Qar province, 375 kilometers southeast of Baghdad.
    The Great Ziggurat temple, a massive Sumerian stepped mudbrick construction dedicated to the moon god Nanna which dates back to 2100 BC in the ancient city of Ur that falls now in southern Iraq's Dhi Qar province, 375 kilometers southeast of Baghdad.
  • A view of Thi Qar museum entrance
    A view of Thi Qar museum entrance
  • Amir Abdul-Razaq Al Zubaidi the general director of the provincial antiquities department.
    Amir Abdul-Razaq Al Zubaidi the general director of the provincial antiquities department.
  • The Great Ziggurat temple, a massive Sumerian stepped mudbrick construction dedicated to the moon god Nanna which dates back to 2100 BC in the ancient city of Ur that falls now in southern Iraq's Dhi Qar province, 375 kilometers southeast of Baghdad.
    The Great Ziggurat temple, a massive Sumerian stepped mudbrick construction dedicated to the moon god Nanna which dates back to 2100 BC in the ancient city of Ur that falls now in southern Iraq's Dhi Qar province, 375 kilometers southeast of Baghdad.
  • The monumental ziggurat at the ancient city of Ur located in the Thi Qar province, southern Iraq.
    The monumental ziggurat at the ancient city of Ur located in the Thi Qar province, southern Iraq.
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The specs

Price: From Dh529,000

Engine: 5-litre V8

Transmission: Eight-speed auto

Power: 520hp

Torque: 625Nm

Fuel economy, combined: 12.8L/100km

The years Ramadan fell in May

1987

1954

1921

1888

RESULT

Esperance de Tunis 1 Guadalajara 1 
(Esperance won 6-5 on penalties)
Esperance: Belaili 38’
Guadalajara: Sandoval 5’

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

States of Passion by Nihad Sirees,
Pushkin Press

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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.

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.”

THE%20SPECS
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Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less

French Touch

Carla Bruni

(Verve)

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

UAE%20SQUAD
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T20 World Cup Qualifier, Muscat

UAE FIXTURES

Friday February 18: v Ireland

Saturday February 19: v Germany

Monday February 21: v Philippines

Tuesday February 22: semi-finals

Thursday February 24: final 

Frankenstein in Baghdad
Ahmed Saadawi
​​​​​​​Penguin Press

Super Rugby play-offs

Quarter-finals

  • Hurricanes 35, ACT 16
  • Crusaders 17, Highlanders 0
  • Lions 23, Sharks 21
  • Chiefs 17, Stormers 11

Semi-finals

Saturday, July 29

  • Crusaders v Chiefs, 12.35pm (UAE)
  • Lions v Hurricanes, 4.30pm

 

 

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Various Artists 
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
​​​​​​​

Profile of Tarabut Gateway

Founder: Abdulla Almoayed

Based: UAE

Founded: 2017

Number of employees: 35

Sector: FinTech

Raised: $13 million

Backers: Berlin-based venture capital company Target Global, Kingsway, CE Ventures, Entrée Capital, Zamil Investment Group, Global Ventures, Almoayed Technologies and Mad’a Investment.

Citizenship-by-investment programmes

United Kingdom

The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).

All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.

The Caribbean

Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport. 

Portugal

The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.

“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.

Greece

The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.

Spain

The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.

Cyprus

Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.

Malta

The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.

The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.

Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.

Egypt 

A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.

Source: Citizenship Invest and Aqua Properties

Updated: June 16, 2022, 1:15 PM