• A climate activist at the Cop27 summit. EPA
    A climate activist at the Cop27 summit. EPA
  • Activists including 11-year-old Licypriya Kangujam from India (in a pink top) protest against Germany's climate policy at the summit. AP Photo
    Activists including 11-year-old Licypriya Kangujam from India (in a pink top) protest against Germany's climate policy at the summit. AP Photo
  • Fans of South Korean boyband BTS protest over climate change in Sharm El Sheikh. Reuters
    Fans of South Korean boyband BTS protest over climate change in Sharm El Sheikh. Reuters
  • Holding a red banner, activists protest at Cop27. EPA
    Holding a red banner, activists protest at Cop27. EPA
  • BTS fans make their point. Reuters
    BTS fans make their point. Reuters
  • 'The flood is coming,' reads the head-turning message, in French, on the back of a woman's blue gown. AP Photo
    'The flood is coming,' reads the head-turning message, in French, on the back of a woman's blue gown. AP Photo
  • Demonstrators at the global summit shout slogans. AFP
    Demonstrators at the global summit shout slogans. AFP
  • Students from the Pacific Islands stage a climate protest at the summit. AP Photo
    Students from the Pacific Islands stage a climate protest at the summit. AP Photo
  • Activists embrace in Sharm El Sheikh. Reuters
    Activists embrace in Sharm El Sheikh. Reuters
  • Banners and shouting demonstrators outside the conference centre. AFP
    Banners and shouting demonstrators outside the conference centre. AFP
  • These protesters at Cop27 are wearing white to support political prisoners and environmental activists. AP Photo
    These protesters at Cop27 are wearing white to support political prisoners and environmental activists. AP Photo
  • Vegans - one dressed as a cow - protest against the killing of animals for food, in Sharm El Sheikh. EPA
    Vegans - one dressed as a cow - protest against the killing of animals for food, in Sharm El Sheikh. EPA

Cop27: summit set for crucial final week with hopes hinging on talks leading to action


John Dennehy
  • English
  • Arabic

The Cop27 conference is set to enter a decisive final week on Monday with much of its success hinging on the results of key negotiations aimed at securing vital support for poorer countries hardest hit by the impact of climate change.

After a Sunday rest day at Egypt's Red Sea resort of Sharm El Sheikh, hopes will rest on high-level talks securing concrete action on grave environmental challenges facing the globe.

So with the crucial UN climate talks around the half-way stage, what has happened so far and what can we expect next week?

First, the bad news

The summit in Egypt started with a sobering warning that the world was on a “highway to climate hell”. Antonio Guterres, the UN secretary general, told world leaders at the opening of the summit on Monday the planet was reaching a point where “climate chaos” was irreversible.

The bad news did not stop there, with report after report released during the week outlining how leaders have repeatedly failed to act despite rising seas, melting sea ice and extreme weather events that are imperilling the world.

The avalanche of doom culminated on Friday with the release of a major report showing global emissions remain at record highs with no evidence they are slowing. The Global Carbon Brief outlined how there was a 50 per cent chance that global temperature rise will hit 1.5°C in less than a decade. If this vital threshold is breached, scientists say up to half the world's population could be exposed to life-threatening heat.

  • A man wears a face mask that reads "no climate justice without human rights" during a protest at the COP27 UN Climate Summit in Sharm El Sheikh, Egypt. AP
    A man wears a face mask that reads "no climate justice without human rights" during a protest at the COP27 UN Climate Summit in Sharm El Sheikh, Egypt. AP
  • A presentation at the American University in Cairo Pavilion. Reuters
    A presentation at the American University in Cairo Pavilion. Reuters
  • Egyptian artist Bahia Sheha stands inside her installation "Heaven & Hell in the Anthropocene." AFP
    Egyptian artist Bahia Sheha stands inside her installation "Heaven & Hell in the Anthropocene." AFP
  • Akihiro Nishimura, minister of the environment of Japan, reviews notes with others at the COP27. AP
    Akihiro Nishimura, minister of the environment of Japan, reviews notes with others at the COP27. AP
  • US Special Presidential Envoy for Climate John Kerry, right, and Xie Zhenhua, China's special envoy for climate greet each other at the COP27 UN Climate Summit in Sharm el-Sheikh, Egypt. AP
    US Special Presidential Envoy for Climate John Kerry, right, and Xie Zhenhua, China's special envoy for climate greet each other at the COP27 UN Climate Summit in Sharm el-Sheikh, Egypt. AP
  • Brazilian president-elect Luiz Inacio Lula da Silva poses for a group photograph with representatives of his country's indigenous people. AFP
    Brazilian president-elect Luiz Inacio Lula da Silva poses for a group photograph with representatives of his country's indigenous people. AFP
  • People attend the COP27 UN Climate Summit in Sharm El-Sheikh. EPA
    People attend the COP27 UN Climate Summit in Sharm El-Sheikh. EPA
  • Activists dancing during a discussion on leaflets at the Cop27 climate conference, taking place in Sharm El Sheikh, Egypt. AFP
    Activists dancing during a discussion on leaflets at the Cop27 climate conference, taking place in Sharm El Sheikh, Egypt. AFP
  • An activist wears a polar bear outfit as part of campaigning. AFP
    An activist wears a polar bear outfit as part of campaigning. AFP
  • From left, Rakia Amandou of Niger, Ba Aminata of Burkina Faso, Kenyan Rosemary Nenini, Fatima Mustafa Ahmed from Sudan and Djeneb Dicko from Burkina Faso at the Indigenous Peoples Pavilion. AP
    From left, Rakia Amandou of Niger, Ba Aminata of Burkina Faso, Kenyan Rosemary Nenini, Fatima Mustafa Ahmed from Sudan and Djeneb Dicko from Burkina Faso at the Indigenous Peoples Pavilion. AP
  • Abdulla Nasser Musallam Al Rahbi, Oman's Ambassador to Egypt and Permanent Representative to the Arab League, speaks at the COP27 climate conference in Egypt's Red Sea resort city of Sharm el-Sheikh. AFP
    Abdulla Nasser Musallam Al Rahbi, Oman's Ambassador to Egypt and Permanent Representative to the Arab League, speaks at the COP27 climate conference in Egypt's Red Sea resort city of Sharm el-Sheikh. AFP
  • Climate activists demonstrate in the designated protest zone. AP
    Climate activists demonstrate in the designated protest zone. AP
  • Sheikh Abdullah, Director General of Environment at the Public Authority of Kuwait, speaks at Cop27. AFP
    Sheikh Abdullah, Director General of Environment at the Public Authority of Kuwait, speaks at Cop27. AFP
  • Visitors at the Sharm El Sheikh International Convention Centre. AFP
    Visitors at the Sharm El Sheikh International Convention Centre. AFP
  • A display outside the convention centre. AFP
    A display outside the convention centre. AFP
  • A fountain in the green zone at the International Convention Centre at sunset. AFP
    A fountain in the green zone at the International Convention Centre at sunset. AFP
  • Mohamed bin Daina, right, Bahrain's Special Envoy for Climate Affairs and Chief Executive at the Supreme Council for Environment, at the conference. AFP
    Mohamed bin Daina, right, Bahrain's Special Envoy for Climate Affairs and Chief Executive at the Supreme Council for Environment, at the conference. AFP
  • Members of Extinction Rebellion stage a protest at the Glencairn tidal pool outside Cape Town, South Africa to mark Cop27's 'Water Day'. AP
    Members of Extinction Rebellion stage a protest at the Glencairn tidal pool outside Cape Town, South Africa to mark Cop27's 'Water Day'. AP
  • From left, Fahad Al Maskari of the Khalifa University, Frank Hartmann, Ghaleb Al Breiki of the UAE University, and Mouna Maroun of the University of Haifa, sign an agreement at Cop27. AFP
    From left, Fahad Al Maskari of the Khalifa University, Frank Hartmann, Ghaleb Al Breiki of the UAE University, and Mouna Maroun of the University of Haifa, sign an agreement at Cop27. AFP
  • John Kerry, US special presidential envoy for climate, at Cop27 in Sharm El Sheikh, Egypt. AP Photo
    John Kerry, US special presidential envoy for climate, at Cop27 in Sharm El Sheikh, Egypt. AP Photo
  • Australian climate activists offer bananas to climate summit participants. AFP
    Australian climate activists offer bananas to climate summit participants. AFP
  • Climate activist Sabrina Elba. AP Photo
    Climate activist Sabrina Elba. AP Photo
  • Egyptian security forces stand guard during the protest. AFP
    Egyptian security forces stand guard during the protest. AFP
  • US President Joe Biden. AFP
    US President Joe Biden. AFP
  • Mr Biden with Egyptian President Abdel Fattah El Sisi. AP
    Mr Biden with Egyptian President Abdel Fattah El Sisi. AP
  • A Cop27 sign in Sharm El Sheikh, Egypt, provides the backdrop for this woman's selfie. Reuters
    A Cop27 sign in Sharm El Sheikh, Egypt, provides the backdrop for this woman's selfie. Reuters
  • Egypt's President Abdel Fattah El Sisi speaks to US House Speaker Nancy Pelosi at the climate summit. AFP
    Egypt's President Abdel Fattah El Sisi speaks to US House Speaker Nancy Pelosi at the climate summit. AFP
  • A water wonderland greets this child at an acquarium in the Cop27 Green Zone. Reuters
    A water wonderland greets this child at an acquarium in the Cop27 Green Zone. Reuters
  • Mr El Sisi, second left, takes part in a cycling marathon on the sidelines of Cop27. EPA
    Mr El Sisi, second left, takes part in a cycling marathon on the sidelines of Cop27. EPA
  • Rafael Grossi, director of the International Atomic Energy Agency, speaks in Sharm El Sheikh about 'complicated' talks to set up a protection zone around Ukraine's Zaporizhzhia nuclear plant. AFP
    Rafael Grossi, director of the International Atomic Energy Agency, speaks in Sharm El Sheikh about 'complicated' talks to set up a protection zone around Ukraine's Zaporizhzhia nuclear plant. AFP
  • Frankie the dinosaur. Reuters
    Frankie the dinosaur. Reuters
  • US House Speaker Nancy Pelosi. Reuters
    US House Speaker Nancy Pelosi. Reuters
  • Sheikha Shamma bint Sultan, CEO of the Alliances for Global Sustainability; Mariam Al Mheiri, Minister of Climate Change and Environment and Minister of State for Food Security; and Hatem Dowidar, group CEO at e&. AFP
    Sheikha Shamma bint Sultan, CEO of the Alliances for Global Sustainability; Mariam Al Mheiri, Minister of Climate Change and Environment and Minister of State for Food Security; and Hatem Dowidar, group CEO at e&. AFP
  • Sameh Shoukry, Cop27 president, centre left, poses for photos in the youth pavilion. AP
    Sameh Shoukry, Cop27 president, centre left, poses for photos in the youth pavilion. AP
  • A visitor looks at the 'Zero Point' series of collage portraits by Turkish artist Deniz Sagdic, each of which is made from a particular kind of upcycled waste material. Getty
    A visitor looks at the 'Zero Point' series of collage portraits by Turkish artist Deniz Sagdic, each of which is made from a particular kind of upcycled waste material. Getty
  • Participants visit the Ukrainian pavillon. AFP
    Participants visit the Ukrainian pavillon. AFP
  • Mr Kerry speaks during a session on accelerating the clean energy transition in developing countries. AP
    Mr Kerry speaks during a session on accelerating the clean energy transition in developing countries. AP
  • Youth climate activists. Pictured, from the left, Eric Njuguna of Kenya, Nicole Becker of Argentina, Vanessa Nakate of Uganda, Sophia Kianni from Iran, and Mitzi Jonelle Tan of the Philippines. AP
    Youth climate activists. Pictured, from the left, Eric Njuguna of Kenya, Nicole Becker of Argentina, Vanessa Nakate of Uganda, Sophia Kianni from Iran, and Mitzi Jonelle Tan of the Philippines. AP
  • Muhammad Sulaiman Al Jasser, right, chairman of the Islamic Development Bank Group, poses for a photo with Mohamed Hadi Al Hussaini, the UAE's Minister of State for Financial Affairs. AFP
    Muhammad Sulaiman Al Jasser, right, chairman of the Islamic Development Bank Group, poses for a photo with Mohamed Hadi Al Hussaini, the UAE's Minister of State for Financial Affairs. AFP
  • Kristalina Georgieva, managing director of the International Monetary Fund. Bloomberg
    Kristalina Georgieva, managing director of the International Monetary Fund. Bloomberg
  • A police officer stands at the entrance of the Sharm El Sheikh International Convention Centre during Cop27. Reuters
    A police officer stands at the entrance of the Sharm El Sheikh International Convention Centre during Cop27. Reuters
  • United Nations Secretary General Antonio Guterres. AP Photo
    United Nations Secretary General Antonio Guterres. AP Photo
  • Former US vice president Al Gore speaks during a session at Cop27. AP Photo
    Former US vice president Al Gore speaks during a session at Cop27. AP Photo
  • Demonstrators shout slogans during a protest. AFP
    Demonstrators shout slogans during a protest. AFP

Protests at the Cop27 venue

Small protests have been taking place across the sprawling venue during the week. They intensified in frequency once world leaders left and have injected a colour and urgency to the dry Cop27 world of briefings and technical committees.

Youth delegations have lambasted leaders for inaction; activists urged the world to go vegan to save the planet; and indigenous voices have told the West they need financial support to deal with the effects of a climate change they did not cause.

Loss and damage

The issue has become so fraught it delayed the start of Cop27. Loss and damage — money to pay for the effects of climate change rather than adapt to them — has quickly become a key part of the talks. In a small, early win for the summit, it was added to the agenda at the UN's annual climate talks for the first time.

Developing countries sharply criticised wealthier nations — who also tend to be the worst emitters — for not agreeing to establish such a fund.

The crisis in Pakistan this year has again brought loss and damage into sharp focus. The country, responsible for one per cent of global emissions, suffered devastating floods that killed about 1,600 people, inundated large parts of the country and forced 33 million people towards destitution.

The US and other major rich countries have resisted paying compensation for such disasters. China said it supported developing nations and would play its part but this would not include cash.

Several counties such as Denmark, Ireland and Scotland agreed to contribute.

China and the US in informal talks

The United States and China are central to the success of the talks as they account for about half of global emissions.

But China halted climate dialogue with the US in August after the House of Representatives Speaker Nancy Pelosi visited Taiwan.

However, Chinese climate negotiator Xie Zhenhua confirmed during the week that he had informal contacts during the summit with his “friend” US climate envoy John Kerry.

Delegates face difficulties in Sharm El Sheikh

Tens of thousands of Cop27 attendees, from UN officials to activists, have descended on the Red Sea resort that is typically the preserve of Russian, Ukrainian and British groups on package tours.

Delegates initially complained about huge queues and high prices at the small number of outlets at the venue, some of which were charging up to $17 for a burger. The situation improved later in the week with prices cut by 50 per cent, new outlets opening and water and soft drinks being given away for free.

The public transport system has also been pressured, with delegates seen stranded on roundabouts trying to flag down the shuttle buses to the conference venue.

What happens next

The Cop27 presidency on Saturday asked countries what they want to include in the summit’s final declaration. It said that while there had been “good progress” in many areas, others remain complex. Talks ramp up from Monday when each country will put their interests forward. Many will want to see progress on loss and damage. However, those close to the negotiations told The National the establishment of such a fund was unlikely at Cop27.

Countries also want to see action on a pledge by developed countries to provide $100 billion a year to poorer countries to help them reduce emissions and prepare for climate change.

Ministers start arriving later in the week to try to resolve these issues ahead of the summit’s final declaration expected on November 18, the closing day.

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EShaffra%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2023%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDIFC%20Innovation%20Hub%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3Emetaverse-as-a-Service%20(MaaS)%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3Ecurrently%20closing%20%241.5%20million%20seed%20round%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Epre-seed%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%20Abu%20Dhabi%20and%20different%20PCs%20and%20angel%20investors%20from%20Saudi%20Arabia%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3Enine%3C%2Fp%3E%0A
RESULT

Norway 1 Spain 1
Norway: King (90 4')
Spain: Niguez (47')

Company%C2%A0profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EOutsized%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2016%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EAzeem%20Zainulbhai%2C%20Niclas%20Thelander%2C%20Anurag%20Bhalla%20and%20Johann%20van%20Niekerk%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EIndia%2C%20South%20Africa%2C%20South-East%20Asia%2C%20Mena%0D%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Recruitment%0D%3Cbr%3E%3Cstrong%3EInvestment%20raised%3A%3C%2Fstrong%3E%20%241%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20staff%20count%3A%3C%2Fstrong%3E%2040%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3ESeed%20and%20angel%20investors%0D%3Cbr%3E%3C%2Fp%3E%0A
Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

RESULT

Valencia 3

Kevin Gameiro 21', 51'

Ferran Torres 67'

Atlanta 4

Josip Llicic 3' (P), 43' (P), 71', 82'

%E2%80%98FSO%20Safer%E2%80%99%20-%20a%20ticking%20bomb
%3Cp%3EThe%20%3Cem%3ESafer%3C%2Fem%3E%20has%20been%20moored%20off%20the%20Yemeni%20coast%20of%20Ras%20Issa%20since%201988.%3Cbr%3EThe%20Houthis%20have%20been%20blockading%20UN%20efforts%20to%20inspect%20and%20maintain%20the%20vessel%20since%202015%2C%20when%20the%20war%20between%20the%20group%20and%20the%20Yemen%20government%2C%20backed%20by%20the%20Saudi-led%20coalition%20began.%3Cbr%3ESince%20then%2C%20a%20handful%20of%20people%20acting%20as%20a%20%3Ca%20href%3D%22https%3A%2F%2Fwww.google.ae%2Furl%3Fsa%3Dt%26rct%3Dj%26q%3D%26esrc%3Ds%26source%3Dweb%26cd%3D%26ved%3D2ahUKEwiw2OfUuKr4AhVBuKQKHTTzB7cQFnoECB4QAQ%26url%3Dhttps%253A%252F%252Fwww.thenationalnews.com%252Fworld%252Fmena%252Fyemen-s-floating-bomb-tanker-millions-kept-safe-by-skeleton-crew-1.1104713%26usg%3DAOvVaw0t9FPiRsx7zK7aEYgc65Ad%22%20target%3D%22_self%22%3Eskeleton%20crew%3C%2Fa%3E%2C%20have%20performed%20rudimentary%20maintenance%20work%20to%20keep%20the%20%3Cem%3ESafer%3C%2Fem%3E%20intact.%3Cbr%3EThe%20%3Cem%3ESafer%3C%2Fem%3E%20is%20connected%20to%20a%20pipeline%20from%20the%20oil-rich%20city%20of%20Marib%2C%20and%20was%20once%20a%20hub%20for%20the%20storage%20and%20export%20of%20crude%20oil.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EThe%20%3Cem%3ESafer%3C%2Fem%3E%E2%80%99s%20environmental%20and%20humanitarian%20impact%20may%20extend%20well%20beyond%20Yemen%2C%20experts%20believe%2C%20into%20the%20surrounding%20waters%20of%20Saudi%20Arabia%2C%20Djibouti%20and%20Eritrea%2C%20impacting%20marine-life%20and%20vital%20infrastructure%20like%20desalination%20plans%20and%20fishing%20ports.%C2%A0%3C%2Fp%3E%0A
TRAP

Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue

Director: M Night Shyamalan

Rating: 3/5

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
MATCH INFO

Cricket World Cup League Two
Oman, UAE, Namibia
Al Amerat, Muscat
 
Results
Oman beat UAE by five wickets
UAE beat Namibia by eight runs
Namibia beat Oman by 52 runs
UAE beat Namibia by eight wickets
UAE v Oman - abandoned
Oman v Namibia - abandoned

Company%20Profile
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Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

The%20specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E261hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E400Nm%20at%201%2C750-4%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E10.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C999%20(VX%20Luxury)%3B%20from%20Dh149%2C999%20(VX%20Black%20Gold)%3C%2Fp%3E%0A
The%C2%A0specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%204-cylinder%202-litre%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20automatic%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E252%20brake%20horsepower%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E352Nm%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh146%2C700%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

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.

FIGHT CARD

Sara El Bakkali v Anisha Kadka (Lightweight, female)
Mohammed Adil Al Debi v Moaz Abdelgawad (Bantamweight)
Amir Boureslan v Mahmoud Zanouny (Welterweight)
Abrorbek Madaminbekov v Mohammed Al Katheeri (Featherweight)
Ibrahem Bilal v Emad Arafa (Super featherweight)
Ahmed Abdolaziz v Imad Essassi (Middleweight)
Milena Martinou v Ilham Bourakkadi (Bantamweight, female)
Noureddine El Agouti v Mohamed Mardi (Welterweight)
Nabil Ouach v Ymad Atrous (Middleweight)
Nouredin Samir v Zainalabid Dadachev (Lightweight)
Marlon Ribeiro v Mehdi Oubahammou (Welterweight)
Brad Stanton v Mohamed El Boukhari (Super welterweight

UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
The past Palme d'Or winners

2018 Shoplifters, Hirokazu Kore-eda

2017 The Square, Ruben Ostlund

2016 I, Daniel Blake, Ken Loach

2015 DheepanJacques Audiard

2014 Winter Sleep (Kış Uykusu), Nuri Bilge Ceylan

2013 Blue is the Warmest Colour (La Vie d'Adèle: Chapitres 1 et 2), Abdellatif Kechiche, Adele Exarchopoulos and Lea Seydoux

2012 Amour, Michael Haneke

2011 The Tree of LifeTerrence Malick

2010 Uncle Boonmee Who Can Recall His Past Lives (Lung Bunmi Raluek Chat), Apichatpong Weerasethakul

2009 The White Ribbon (Eine deutsche Kindergeschichte), Michael Haneke

2008 The Class (Entre les murs), Laurent Cantet

Europa League group stage draw

Group A: Villarreal, Maccabi Tel Aviv, Astana, Slavia Prague.
Group B: Dynamo Kiev, Young Boys, Partizan Belgrade, Skenderbeu.
Group C: Sporting Braga, Ludogorets, Hoffenheim, Istanbul Basaksehir.
Group D: AC Milan, Austria Vienna , Rijeka, AEK Athens.
Group E: Lyon, Everton, Atalanta, Apollon Limassol.
Group F: FC Copenhagen, Lokomotiv Moscow, Sheriff Tiraspol, FC Zlin.
Group G: Vitoria Plzen, Steaua Bucarest, Hapoel Beer-Sheva, FC Lugano.
Group H: Arsenal, BATE Borisov, Cologne, Red Star Belgrade.
Group I: Salzburg, Marseille, Vitoria Guimaraes, Konyaspor.
Group J: Athletic Bilbao, Hertha Berlin, Zorya Luhansk, Ostersund.
Group K: Lazio, Nice, Zulte Waregem, Vitesse Arnhem.
Group L: Zenit St Petersburg, Real Sociedad, Rosenborg, Vardar

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.”

Updated: November 13, 2022, 9:09 AM