What better place to host a global climate conference than in the world's highest per-capita greenhouse gas emitter?
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Next November, the searching gaze of environmentalists will be turned firmly on Doha, which won the rights to host the 18th UN climate change conference (Cop18) at the current talks in Durban.
Are the Gulf countries ready for such scrutiny? And what should their negotiating position be?
The award of Cop18 to Qatar can be seen as an attempt to drive a wedge between climate "progressives" in the Gulf (Qatar and the UAE) and the laggards (Saudi Arabia).
It also puts new pressure on the UAE to live up to its role as the Gulf's climate champion, achieved by creating the clean energy company Masdar and being home to the International Renewable Energy Agency. With the scaling-back of Masdar's budget and ambitions, it will be interesting to see whether Qatar attempts to seize the lead.
By contrast, one of Saudi Arabia's first actions at Durban was to team up with the US to block approval of a report on setting up a US100 billion (Dh367bn) fund to help developing countries to deal with climate change.
Mohammad Al Sabban, the top Saudi climate negotiator, has dropped earlier requests for compensation for loss of oil sales, but maintains the kingdom needs transfer of climate-friendly technologies, and investment to diversify its economy. Other Saudi officials have been reported to be "disheartened" by Mr Al Sabban's hard-line approach.
The Gulf countries were classified as "developing" under the Kyoto Protocol, and were exempt from binding climate targets. Now, with Qatar the world's richest country, the UAE sixth, and Saudi Arabia wealthier than eight EU members, this status is untenable.
Nobody forces the Gulf countries to export oil and gas, and they benefit handsomely from doing so.
There is no more case for their claiming compensation than for China to be reimbursed for using less of its coal.
The main actions for the GCC to reduce its carbon-dioxide emissions are ones it should be taking anyway for purely economic reasons: improving energy efficiency; removing wasteful subsidies; introducing more solar and other renewable energy to save on domestic consumption of oil and gas; and diversifying into new industries.
Ali Al Naimi, the Saudi petroleum minister, is a strong supporter of solar power.
Global climate policy is not as threatening for oil-exporting countries as often supposed.
Research published in TheEnergy Journal in 2009 suggested the impact on Opec of putting a worldwide tax or limit on carbon-dioxide emissions is surprisingly small.
If the carbon tax is relatively low, the effect on Opec revenues is positive. This is because oil remains hard to replace in its core market of transport.
Other than steadily improving efficiency, there are few alternatives: electric vehicles are rare and expensive. By contrast coal, the most carbon-intensive fuel, can easily be replaced by gas, nuclear or renewable energy.
Qatar will probably benefit as limits on coal increase demand for cleaner-burning gas exports. And carbon taxes are a heavier burden on competitors to Opec oil - Canada's oil sands, and conversion of coal to liquid fuels.
By its intransigence, Saudi Arabia is missing the chance to steer climate negotiations in a favourable direction. Some tactical alliances are in order with like-minded allies and even environmental groups.
This fits the apparently growing inclination towards harmonising national climate policies rather than reaching a rigid, over-arching agreement.
Gulf countries should take every opportunity to restrict the use of coal - since they do not possess this resource, and reducing coal emissions eases the pressure to cut oil consumption.
Similarly, more than a fifth of human-caused carbon-dioxide emissions are from deforestation - not a problem for GCC countries. They can reach agreement with states such as Brazil to trade agreements on saving forests for support to carbon capture and storage, a technology well-suited to Gulf oilfields.
Biofuels have been enthusiastically touted by the EU and US not only as solutions to climate change, but as replacements for Opec oil.
Now, worries over their effect on driving up food prices, damaging biodiversity, and not cutting carbon-dioxide emissions by as much as hoped for, give Gulf countries good arguments against them.
Such self-interested negotiations are the stock tools of every party at Durban. By being selectively accommodating, and making genuine commitments on issues such as solar power, Gulf states can reduce the inevitable charges of hypocrisy.
Yet they need to be prepared to be under the world's microscope when hosting Cop18 in Doha.
Saudi opinions always carry great weight in the GCC, but in this instance, the Gulf's climate progressives have to steer their own course - and deliver on ambitious environmental promises at home.
Robin Mills is the head of consulting at Manaar Energy, and the author of The Myth of the Oil Crisis and Capturing Carbon
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UAE Warriors 45 Results
Main Event
: Lightweight Title
Amru Magomedov def Jakhongir Jumaev - Round 1 (submission)
Co-Main Event
: Bantamweight
Rany Saadeh def Genil Franciso - Round 2 (submission)
Catchweight 150 lbs
Walter Cogliandro def Ali Al Qaisi - Round 1 (TKO)
Bantamweight
Renat Khavalov def Hikaru Yoshino - Round 2 (TKO)
Flyweight
Victor Nunes def Nawras Abzakh - Round 1 (TKO)
Flyweight
Yamato Fujita def Sanzhar Adilov - Round 1 (submission)
Lightweight
Abdullo Khodzhaev def Petru Buzdugen - Round 1 (TKO)
Catchweight 139 lbs
Razhabali Shaydullaev def Magomed Al-Abdullah - Round 2 (submission)
Flyweight
Cong Wang def Amena Hadaya - Points (unanimous decision)
Middleweight
Khabib Nabiev def Adis Taalaybek Uulu - Round 2 (submission)
Light Heavyweight
Bartosz Szewczyk def Artem Zemlyakov - Round 2 (TKO)
ROUTE TO TITLE
Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2
Meydan racecard:
6.30pm: Handicap | US$135,000 (Dirt) | 1,400 metres
7.05pm: Handicap | $135,000 (Turf) | 1,200m
7.40pm: Dubai Millennium Stakes | Group 3 | $200,000 (T) | 2,000m
8.15pm: UAE Oaks | Group 3 | $250,000 (D) | 1,900m
8.50pm: Zabeel Mile | Group 2 | $250,000 (T) | 1,600m
9.20pm: Handicap | $135,000 (T) | 1,600m
THE SPECS
Engine: 4.4-litre V8
Transmission: eight-speed automatic
Power: 523hp
Torque: 750Nm
Price: Dh469,000
TWISTERS
Director:+Lee+Isaac+Chung
Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos
Rating:+2.5/5
SPEC SHEET
Processor: Apple M2, 8-core GPU, 10-core CPU, 16-core Neural Engine
Display: 13.3-inch Retina, 2560 x 1600, 227ppi, 500 nits, True Tone, wide colour
Memory: 8/16/24GB
Storage: 256/512GB / 1/2TB
I/O: Thunderbolt 3 (2), 3.5mm audio; Touch Bar with Touch ID
Connectivity: Wi-Fi 6, Bluetooth 5.0
Battery: 58.2Wh lithium-polymer, up to 20 hours
Camera: 720p FaceTime HD
Video: Support for HDR with Dolby Vision, HDR10, ProRes
Audio: Stereo speakers with HDR, wide stereo, Spatial Audio support, Dolby support
In the box: MacBook Pro, 67W power adapter, USB-C cable
Price: From Dh5,499
Zayed Sustainability Prize
Meydan race card
6.30pm: Maiden; Dh165,000; (Dirt) 1,200m
7.05pm: Handicap; Dh170,000; (D) 1,200m
7.40pm: Maiden; Dh165,000; (D) 1,900m
8.15pm: Handicap; Dh185,000; (D) 2,000m
8.50pm: Handicap; Dh185,000; (D) 1,600m
9.25pm: Handicap; Dh165,000; (D) 2,000m
MATCH INFO
Real Madrid 2
Vinicius Junior (71') Mariano (90+2')
Barcelona 0
Mumbai Indians 213/6 (20 ov)
Royal Challengers Bangalore 167/8 (20 ov)
Our legal consultants
Name: Hassan Mohsen Elhais
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COMPANY PROFILE
Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends
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.
Scream VI
Directors: Matt Bettinelli-Olpin and Tyler Gillett
Stars: Melissa Barrera, Jasmin Savoy Brown, Jack Champion, Dermot Mulroney, Jenna Ortega, Hayden Panettiere and Courteney Cox
Rating: 3/5
Match info:
Real Betis v Sevilla, 10.45pm (UAE)
Thor: Ragnarok
Dir: Taika Waititi
Starring: Chris Hemsworth, Tom Hiddleston, Cate Blanchett, Jeff Goldblum, Mark Ruffalo, Tessa Thompson
Four stars
Results:
5pm: Maiden (PA) Dh80,000 2,200m | Winner: AF Al Montaqem, Bernardo Pinheiro (jockey), Ernst Oertel (trainer)
5.30pm: Maiden (PA) Dh80,000 1,200m | Winner: Daber W’Rsan, Connor Beasley, Jaci Wickham
6pm: Handicap (PA) Dh85,000 1,600m | Winner: Bainoona, Fabrice Veron, Eric Lemartinel
6.30pm: Handicap (PA) Dh80,000 1,600m | Winner: AF Makerah, Antonio Fresu, Ernst Oertel
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 | Winner: AF Motaghatres, Antonio Fresu, Ernst Oertel
7.30pm: Handicap (TB) Dh90,000 1,600m | Winner: Tafakhor, Ronan Whelan, Ali Rashid Al Raihe
MATCH INFO
Uefa Champions League semi-finals, first leg
Liverpool v Roma
When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome
MATCH INFO
Chelsea 1
Alonso (62')
Huddersfield Town 1
Depoitre (50')
FIXTURES
New Zealand v France, second Test
Saturday, 12.35pm (UAE)
Auckland, New Zealand
South Africa v Wales
Sunday, 12.40am (UAE), San Juan, Argentina
A QUIET PLACE
Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou
Director: Michael Sarnoski
Rating: 4/5
The biog
Age: 35
Inspiration: Wife and kids
Favourite book: Changes all the time but my new favourite is Thinking, Fast and Slow by Daniel Kahneman
Best Travel Destination: Bora Bora , French Polynesia
Favourite run: Jabel Hafeet, I also enjoy running the 30km loop in Al Wathba cycling track
COMPANY PROFILE
Company name: Klipit
Started: 2022
Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant
Based: Dubai, UAE
Industry: Digital receipts, finance, blockchain
Funding: $4 million
Investors: Privately/self-funded
SPECS
Nissan 370z Nismo
Engine: 3.7-litre V6
Transmission: seven-speed automatic
Power: 363hp
Torque: 560Nm
Price: Dh184,500
The lowdown
Badla
Rating: 2.5/5
Produced by: Red Chillies, Azure Entertainment
Director: Sujoy Ghosh
Cast: Amitabh Bachchan, Taapsee Pannu, Amrita Singh, Tony Luke
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
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.”
Kill Bill Volume 1
Director: Quentin Tarantino
Stars: Uma Thurman, David Carradine and Michael Madsen
Rating: 4.5/5
If you go...
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
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