Lord Grimstone and Khaldoon Al Mubarak . Bloomberg, Pawan Singh / The National
Lord Grimstone and Khaldoon Al Mubarak . Bloomberg, Pawan Singh / The National
Lord Grimstone and Khaldoon Al Mubarak . Bloomberg, Pawan Singh / The National
Lord Grimstone and Khaldoon Al Mubarak . Bloomberg, Pawan Singh / The National

UAE-UK relations enter new chapter with expanded Sovereign Investment Partnership


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The UAE’s relationship with the UK is expected to enter a new chapter this week, with a series of announcements of high profile investments and partnerships, to bring closer a greener, high-tech industrial revolution.

To set the terms of a “step change” in relations, the countries have agreed on an expansion of the Sovereign Investment Partnership, announced last March, with an initial £1 billion joint investment in life sciences. That investment cycle has already neared completion and, with rewards flowing, the partnership is set to be expanded to include joint investments in energy transition, technology and infrastructure. All four sectors have been identified by the UK and UAE as priority areas for the foreseeable future.

In a joint interview with The National in London, the UK’s minister for investment Lord Gerry Grimstone and Mubadala’s group chief executive and managing director Khaldoon Al Mubarak laid out the principle tenets of the Sovereign Investment Partnership, from shared investment to strategic tie-ups and preparing for the future. A key theme for the partnership is science and technology, in line with both countries' focus on developing their expertise. Mr Al Mubarak said that the investments are “high impact with high return”.

Mr Al Mubarak told The National: “We know the UK well and have been investing in it for some time”, including a track record of £4bn investments in renewables. He added: “We are looking to the future, using the strengths of what we know”. He said the four new sectors of focus of the partnership “match our ambitions ... we are all on the same page”, with the UK.

Lord Gerry Grimstone, UK Minister for Investment after the signing of the Sovereign Investment Partnership last March. Photo: Supplied
Lord Gerry Grimstone, UK Minister for Investment after the signing of the Sovereign Investment Partnership last March. Photo: Supplied

“Both countries [are] essentially taking a view on each other and saying we're going to bet on each other, we're going to double down and triple down in terms of growing this relationship to another level,” he said.

On how the sectors included in the partnership were identified, Mr Al Mubarak described it as a process of “logical conclusion”. And these are all sectors from an investment perspective in the UAE have a very important focus on.

“These are sectors that have tailwinds, and are sectors that the UK has a lot to offer in, with tremendous potential,” he said. “I think you will be able to see this year several very interesting investments so far and others that are in the pipeline that we will do before the end of the year in companies that are doing cutting edge research and development, that are producing incredible technology – products that are going to come and save lives and improve the livelihood of people.”

Noting the unique nature of the partnership between sovereign entities, Lord Grimstone said the UK government was keen to learn from collaboration with a UAE side that boast global expertise and established networks.

“These are priority sectors for the UK government as well, what we are seeing here is Mubadala helping us inject economic activity into every part of the United Kingdom. With an investor such as Mubadala, one of the world’s most sophisticated global investors, you get skills, sophistication”.

He highlighted the fact that “companies in which Mubadala invest get great benefit from that, separate from the pure investment” of funds.

“The more we can get from Mubadala’s global expertise, that is a huge opportunity for us,” Lord Grimstone said.

Both the UAE and UK see the expanded partnership as part of a bigger picture. Mr Al Mubarak said: “It is important to contextualise our partnership, the investment side is obviously important but this is a new approach as we agree a new partnership”.

As the UAE celebrates fifty years since its founding, it is also building on more than fifty years of relations with the UK and “a tremendous foundation”, as Mr Al Mubarak termed it.

“The UK has been a very important strategic partner for the UAE since its inception … in every aspect of society, from the economy to the government to education, health care, every aspect of society,” he said. “We have a wide and deep-rooted relationship and I think that is the foundation of what we are looking to for the future.

“Building on the historic relationship and looking to the next 50 years,” he added.

Mr Al Mubarak said: “The UK is in a different place than it was 3 to 4 years ago and the UAE is also in a different place”.

Khaldoon Al Mubarak, Managing Director and Group CEO of Mubadala, during the signing of the SIP in March. Photo: Supplied
Khaldoon Al Mubarak, Managing Director and Group CEO of Mubadala, during the signing of the SIP in March. Photo: Supplied

The UK has been seeking to build on its investment partnerships globally as it emerges from the Brexit period and the partnership with the UAE is seen as an important pillar in its strategy.

Lord Grimstone, a former banking executive with UAE boardroom experience, said that this week’s announcements show “confidence in the UK” at the international level.

He added a corner had been turned after “three years, the UK became obsessed with itself, obsessed with Brexit negotiations and people got fed up with us during that period. It got to a point where investors would say to me, we don’t care what you do, as long as you do something".

Lord Grimstone sounded an optimistic note, as the “UK is going through a huge period of change, we are having our new industrial revolution, with net zero [projects], life sciences and technology”.

The minister was noncommittal about the possibility of a Free Trade Agreement between the GCC and UK, a matter that has been discussed for some time in London and Gulf capitals. He said: “Investment and trade go hand in hand, everybody is excited about the possibilities”, making reference to the fact that the GCC is equivalent to the UK’s 4th largest non-EU trading partner, after the US, China and Switzerland.

The investments in the four sectors will be over an initial five-year period under the Sovereign Investment Partnership but the framing is over a much longer period of time. Lord Grimstone explained that with programmes such as these “they become self-sustainable, success breeds success. Familiarity with the investment landscape leads to more opportunities”. Mr Al Mubarak said since the announcement of the Sovereign Investment Partnership and the initial commitment in March, “we have both worked so hard with our respective teams in identifying the right opportunities, going through the proper diligence and then investing in an appropriate way”.

Since March, the UAE has made 12 investments in life sciences, deploying or committing to more than £1.1bn of invested capital already and by the end of the year, Mr Al Mubarak said he anticipated a line of sight of at least £2bn.

Mr Al Mubarak stressed the significance of the partnership with the UK.

“This is a very important new chapter in our relationship with the UK, future-driven, with a lot of excitement, confidence and based on a history that has been quite incredible.”

Racecard
%3Cp%3E8.30pm%3A%20Wathba%20Stallions%20Cup%20%E2%80%93%20Maiden%20(PA)%20Dh70%2C000%20(Turf)%201%2C200m%3Cbr%3E9pm%3A%20Yas%20Island%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C400m%3Cbr%3E9.30pm%3A%20Saadiyat%20Island%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%201%2C600m%3Cbr%3E10pm%3A%20Reem%20Island%20%E2%80%93%20Handicap%20(PA)%20Dh80%2C000%20(T)%202%2C200m%3Cbr%3E10.30pm%3A%20Arabian%20Triple%20Crown%20Round%203%20%E2%80%93%20Group%203%20(PA)%20Dh300%2C000%20(T)%202%2C400m%3Cbr%3E11pm%3A%20Al%20Maryah%20Island%20%E2%80%93%20Handicap%20(TB)%20Dh80%2C000%20(T)%201%2C600m%3C%2Fp%3E%0A
How being social media savvy can improve your well being

Next time when procastinating online remember that you can save thousands on paying for a personal trainer and a gym membership simply by watching YouTube videos and keeping up with the latest health tips and trends.

As social media apps are becoming more and more consumed by health experts and nutritionists who are using it to awareness and encourage patients to engage in physical activity.

Elizabeth Watson, a personal trainer from Stay Fit gym in Abu Dhabi suggests that “individuals can use social media as a means of keeping fit, there are a lot of great exercises you can do and train from experts at home just by watching videos on YouTube”.

Norlyn Torrena, a clinical nutritionist from Burjeel Hospital advises her clients to be more technologically active “most of my clients are so engaged with their phones that I advise them to download applications that offer health related services”.

Torrena said that “most people believe that dieting and keeping fit is boring”.

However, by using social media apps keeping fit means that people are “modern and are kept up to date with the latest heath tips and trends”.

“It can be a guide to a healthy lifestyle and exercise if used in the correct way, so I really encourage my clients to download health applications” said Mrs Torrena.

People can also connect with each other and exchange “tips and notes, it’s extremely healthy and fun”.

Most sought after workplace benefits in the UAE
  • Flexible work arrangements
  • Pension support
  • Mental well-being assistance
  • Insurance coverage for optical, dental, alternative medicine, cancer screening
  • Financial well-being incentives 
Match statistics

Dubai Sports City Eagles 8 Dubai Exiles 85

Eagles
Try:
Bailey
Pen: Carey

Exiles
Tries:
Botes 3, Sackmann 2, Fourie 2, Penalty, Walsh, Gairn, Crossley, Stubbs
Cons: Gerber 7
Pens: Gerber 3

Man of the match: Tomas Sackmann (Exiles)

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
UAE currency: the story behind the money in your pockets

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

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
OPTA'S PREDICTED TABLE

1. Liverpool 101 points

2. Manchester City 80 

3. Leicester 67

4. Chelsea 63

5. Manchester United 61

6. Tottenham 58

7. Wolves 56

8. Arsenal 56

9. Sheffield United 55

10. Everton 50

11. Burnley 49

12. Crystal Palace 49

13. Newcastle 46

14. Southampton 44

15. West Ham 39

16. Brighton 37

17. Watford 36

18. Bournemouth 36

19. Aston Villa 32

20. Norwich City 29

 

 

 

 

 

 

WITHIN%20SAND
%3Cp%3EDirector%3A%20Moe%20Alatawi%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Ra%E2%80%99ed%20Alshammari%2C%20Adwa%20Fahd%2C%20Muhand%20Alsaleh%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
Ronaldo's record at Man Utd

Seasons 2003/04 - 2008/09

Appearances 230

Goals 115

RESULTS

2pm: Handicap (PA) Dh40,000 (Dirt) 1,000m
Winner: AF Mozhell, Saif Al Balushi (jockey), Khalifa Al Neyadi (trainer)

2.30pm: Maiden (PA) Dh40,000 (D) 2,000m
Winner: Majdi, Szczepan Mazur, Abdallah Al Hammadi.

3pm: Handicap (PA) Dh40,000 (D) 1,700m
Winner: AF Athabeh, Tadhg O’Shea, Ernst Oertel.

3.30pm: Handicap (PA) Dh40,000 (D) 1,700m
Winner: AF Eshaar, Bernardo Pinheiro, Khalifa Al Neyadi

4pm: Gulf Cup presented by Longines Prestige (PA) Dh150,000 (D) 1,700m
Winner: Al Roba’a Al Khali, Al Moatasem Al Balushi, Younis Al Kalbani

4.30pm: Handicap (TB) Dh40,000 (D) 1,200m
Winner: Apolo Kid, Antonio Fresu, Musabah Al Muahiri

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

%E2%80%98White%20Elephant%E2%80%99
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Jesse%20V%20Johnson%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Michael%20Rooker%2C%20Bruce%20Willis%2C%20John%20Malkovich%2C%20Olga%20Kurylenko%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
The Byblos iftar in numbers

29 or 30 days – the number of iftar services held during the holy month

50 staff members required to prepare an iftar

200 to 350 the number of people served iftar nightly

160 litres of the traditional Ramadan drink, jalab, is served in total

500 litres of soup is served during the holy month

200 kilograms of meat is used for various dishes

350 kilograms of onion is used in dishes

5 minutes – the average time that staff have to eat
 

Defence review at a glance

• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”

• Prioritise a shift towards working with AI and autonomous systems

• Invest in the resilience of military space systems.

• Number of active reserves should be increased by 20%

• More F-35 fighter jets required in the next decade

• New “hybrid Navy” with AUKUS submarines and autonomous vessels

Stormy seas

Weather warnings show that Storm Eunice is soon to make landfall. The videographer and I are scrambling to return to the other side of the Channel before it does. As we race to the port of Calais, I see miles of wire fencing topped with barbed wire all around it, a silent ‘Keep Out’ sign for those who, unlike us, aren’t lucky enough to have the right to move freely and safely across borders.

We set sail on a giant ferry whose length dwarfs the dinghies migrants use by nearly a 100 times. Despite the windy rain lashing at the portholes, we arrive safely in Dover; grateful but acutely aware of the miserable conditions the people we’ve left behind are in and of the privilege of choice. 

Scoreline

Australia 2-1 Thailand

Australia: Juric 69', Leckie 86'
Thailand: Pokklaw 82'

What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
  • Grade 4 = grade C
  • Grade 3 = between grades D and E
  • Grade 2 = between grades E and F
  • Grade 1 = between grades F and G
The specs

Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)

Notable salonnières of the Middle East through history

Al Khasan (Okaz, Saudi Arabia)

Tamadir bint Amr Al Harith, known simply as Al Khasan, was a poet from Najd famed for elegies, earning great renown for the eulogy of her brothers Mu’awiyah and Sakhr, both killed in tribal wars. Although not a salonnière, this prestigious 7th century poet fostered a culture of literary criticism and could be found standing in the souq of Okaz and reciting her poetry, publicly pronouncing her views and inviting others to join in the debate on scholarship. She later converted to Islam.

 

Maryana Marrash (Aleppo)

A poet and writer, Marrash helped revive the tradition of the salon and was an active part of the Nadha movement, or Arab Renaissance. Born to an established family in Aleppo in Ottoman Syria in 1848, Marrash was educated at missionary schools in Aleppo and Beirut at a time when many women did not receive an education. After touring Europe, she began to host salons where writers played chess and cards, competed in the art of poetry, and discussed literature and politics. An accomplished singer and canon player, music and dancing were a part of these evenings.

 

Princess Nazil Fadil (Cairo)

Princess Nazil Fadil gathered religious, literary and political elite together at her Cairo palace, although she stopped short of inviting women. The princess, a niece of Khedive Ismail, believed that Egypt’s situation could only be solved through education and she donated her own property to help fund the first modern Egyptian University in Cairo.

 

Mayy Ziyadah (Cairo)

Ziyadah was the first to entertain both men and women at her Cairo salon, founded in 1913. The writer, poet, public speaker and critic, her writing explored language, religious identity, language, nationalism and hierarchy. Born in Nazareth, Palestine, to a Lebanese father and Palestinian mother, her salon was open to different social classes and earned comparisons with souq of where Al Khansa herself once recited.

Conflict, drought, famine

Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.

Band Aid

Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.

While you're here
UAE currency: the story behind the money in your pockets
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
The specs

  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

Torbal Rayeh Wa Jayeh
Starring: Ali El Ghoureir, Khalil El Roumeithy, Mostafa Abo Seria
Stars: 3

Updated: September 16, 2021, 5:04 AM`