Ruslan Strilets, Ukraine's minister of environmental protection and natural resources, speaks at the Ukraine Pavilion during the Cop27 climate summit in Egypt. AP
Ruslan Strilets, Ukraine's minister of environmental protection and natural resources, speaks at the Ukraine Pavilion during the Cop27 climate summit in Egypt. AP
Ruslan Strilets, Ukraine's minister of environmental protection and natural resources, speaks at the Ukraine Pavilion during the Cop27 climate summit in Egypt. AP
Ruslan Strilets, Ukraine's minister of environmental protection and natural resources, speaks at the Ukraine Pavilion during the Cop27 climate summit in Egypt. AP

Russian efforts to promote its interests at Cop27 will fail, says Ukraine minister


John Dennehy
  • English
  • Arabic

Efforts by Russia to promote its interests at Cop27 will fail, a Ukraine minister has said from Sharm El Sheikh.

Ruslan Strilets, minister of environmental protection and natural resources, said he had heard Russian delegates, including representatives of the oil and gas industry, were attending the UN climate talks in Egypt but he hadn’t seen them and wouldn't talk to them.

Speaking to reporters on Monday, he said the majority of the civilised world had made up their mind and had condemned Moscow's invasion of Ukraine.

“Russian efforts to [promote] their interests here will fail because all civilised countries will ignore this,” he said speaking through an interpreter.

Mr Strilets also said Ukraine would not talk to his Russian counterpart at Cop27 if they met accidentally, and said it was still very early to start assessing environmental damage in the newly-retaken Kherson area and touted how Ukraine would move to a greener future.

“There is a lot to be done to make the region safe for the work of our experts,” he said, regarding Kherson.

“It is one thing to get to Kherson but quite another for our experts to go into forests. It is very dangerous. I’m sure this process will be organised in the shortest possible time.”

Cop27 in Sharm El Sheikh — in pictures

  • 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

He also outlined some of the environmental damage done to Ukraine since the start of Russia's invasion in February.

He said there were 2,239 cases of environmental damage recorded, at least 20 per cent of protected areas under threat and about $35.3 billion in environmental damage done by Russia. Ukraine estimates that rebuilding will result in about 50 million tonnes of carbon dioxide emissions.

It is the first time Ukraine has had a pavilion at a Cop summit. Its sombre structure is painted in grey to reflect the war back home.

Ukraine pavilion at Cop27 — in pictures

  • Ukraine's pavilion at Cop27. It is the first time the country has a pavilion at a Cop. Photo: John Dennehy / The National
    Ukraine's pavilion at Cop27. It is the first time the country has a pavilion at a Cop. Photo: John Dennehy / The National
  • The pavilion has an installation designed to reflect a shell that has cratered the ground. Photo: Ukraine at Cop27
    The pavilion has an installation designed to reflect a shell that has cratered the ground. Photo: Ukraine at Cop27
  • Samples of Ukraine's soil at the pavilion. Photo: Ukraine at Cop27
    Samples of Ukraine's soil at the pavilion. Photo: Ukraine at Cop27
  • A piece of an oak tree damaged by shrapnel taken from Irpin. It is now on display at the pavilion. Photo: Ukraine at Cop27.
    A piece of an oak tree damaged by shrapnel taken from Irpin. It is now on display at the pavilion. Photo: Ukraine at Cop27.
  • Ukrainian President, Volodymyr Zelensky, addresses Cop27. Sean Gallup / Getty Images
    Ukrainian President, Volodymyr Zelensky, addresses Cop27. Sean Gallup / Getty Images

Russian media, meanwhile, reported that their country's delegation had travelled to Cop27 and was set to hold bilateral meetings during the two-week event.

The UN climate talks continue until November 18 in Sharm El Sheikh.

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How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

FROM%20THE%20ASHES
%3Cp%3EDirector%3A%20Khalid%20Fahad%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Shaima%20Al%20Tayeb%2C%20Wafa%20Muhamad%2C%20Hamss%20Bandar%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A

Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

Company Profile:

Name: The Protein Bakeshop

Date of start: 2013

Founders: Rashi Chowdhary and Saad Umerani

Based: Dubai

Size, number of employees: 12

Funding/investors:  $400,000 (2018) 

Why seagrass matters
  • Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
  • Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
  • Biodiversity: Support species like sea turtles, dugongs, and seabirds
  • Coastal protection: Reduce erosion and improve water quality
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%3Cp%3EThe%20UAE%20will%20host%20Scotland%20for%20a%20three-match%20T20I%20series%20at%20the%20Dubai%20International%20Stadium%20next%20month.%3Cbr%3EThe%20two%20sides%20will%20start%20their%20Cricket%20World%20Cup%20League%202%20campaigns%20with%20a%20tri-series%20also%20involving%20Canada%2C%20starting%20on%20January%2029.%3Cbr%3EThat%20series%20will%20be%20followed%20by%20a%20bilateral%20T20%20series%20on%20March%2011%2C%2013%20and%2014.%3C%2Fp%3E%0A

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 

 

Teenage%20Mutant%20Ninja%20Turtles%3A%20Shredder's%20Revenge
%3Cp%3E%3Cstrong%3EDeveloper%3A%20%3C%2Fstrong%3ETribute%20Games%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Dotemu%3Cbr%3E%3Cstrong%3EConsoles%3A%20%3C%2Fstrong%3ENintendo%20Switch%2C%20PlayStation%204%26amp%3B5%2C%20PC%20and%20Xbox%20One%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A

Banthology: Stories from Unwanted Nations
Edited by Sarah Cleave, Comma Press

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%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EPeyton%20Reed%3Cbr%3E%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Paul%20Rudd%2C%20Evangeline%20Lilly%2C%20Jonathan%20Majors%3Cbr%3E%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%3C%2Fp%3E%0A
Company%20profile%20
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EElggo%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20August%202022%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Luma%20Makari%20and%20Mirna%20Mneimneh%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Education%20technology%20%2F%20health%20technology%3Cbr%3E%3Cstrong%3ESize%3A%3C%2Fstrong%3E%20Four%20employees%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-seed%3C%2Fp%3E%0A
EMERGENCY PHONE NUMBERS

Estijaba – 8001717 –  number to call to request coronavirus testing

Ministry of Health and Prevention – 80011111

Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre

Emirates airline – 600555555

Etihad Airways – 600555666

Ambulance – 998

Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries

Porsche Taycan Turbo specs

Engine: Two permanent-magnet synchronous AC motors

Transmission: two-speed

Power: 671hp

Torque: 1050Nm

Range: 450km

Price: Dh601,800

On sale: now

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Coal Black Mornings

Brett Anderson

Little Brown Book Group 

Also on December 7 to 9, the third edition of the Gulf Car Festival (www.gulfcarfestival.com) will take over Dubai Festival City Mall, a new venue for the event. Last year's festival brought together about 900 cars worth more than Dh300 million from across the Emirates and wider Gulf region – and that first figure is set to swell by several hundred this time around, with between 1,000 and 1,200 cars expected. The first day is themed around American muscle; the second centres on supercars, exotics, European cars and classics; and the final day will major in JDM (Japanese domestic market) cars, tuned vehicles and trucks. Individuals and car clubs can register their vehicles, although the festival isn’t all static displays, with stunt drifting, a rev battle, car pulls and a burnout competition.

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Match info

Uefa Champions League Group B

Barcelona v Tottenham Hotspur, midnight

The specs: 2019 Mercedes-Benz GLE

Price, base / as tested Dh274,000 (estimate)

Engine 3.0-litre inline six-cylinder

Gearbox  Nine-speed automatic

Power 245hp @ 4,200rpm

Torque 500Nm @ 1,600rpm

Fuel economy, combined 6.4L / 100km

Small Victories: The True Story of Faith No More by Adrian Harte
Jawbone Press

Quick%20facts
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The years Ramadan fell in May

1987

1954

1921

1888

Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

 

 

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

How tumultuous protests grew
  • A fuel tax protest by French drivers appealed to wider anti-government sentiment
  • Unlike previous French demonstrations there was no trade union or organised movement involved 
  • Demonstrators responded to online petitions and flooded squares to block traffic
  • At its height there were almost 300,000 on the streets in support
  • Named after the high visibility jackets that drivers must keep in cars 
  • Clashes soon turned violent as thousands fought with police at cordons
  • An estimated two dozen people lost eyes and many others were admitted to hospital 
The specs: 2018 Chevrolet Trailblazer

Price, base / as tested Dh99,000 / Dh132,000

Engine 3.6L V6

Transmission: Six-speed automatic

Power 275hp @ 6,000rpm

Torque 350Nm @ 3,700rpm

Fuel economy combined 12.2L / 100km

If you go

The flights Etihad (www.etihad.com) and Spice Jet (www.spicejet.com) fly direct from Abu Dhabi and Dubai to Pune respectively from Dh1,000 return including taxes. Pune airport is 90 minutes away by road. 

The hotels A stay at Atmantan Wellness Resort (www.atmantan.com) costs from Rs24,000 (Dh1,235) per night, including taxes, consultations, meals and a treatment package.
 

Navdeep Suri, India's Ambassador to the UAE

There has been a longstanding need from the Indian community to have a religious premises where they can practise their beliefs. Currently there is a very, very small temple in Bur Dubai and the community has outgrown this. So this will be a major temple and open to all denominations and a place should reflect India’s diversity.

It fits so well into the UAE’s own commitment to tolerance and pluralism and coming in the year of tolerance gives it that extra dimension.

What we will see on April 20 is the foundation ceremony and we expect a pretty broad cross section of the Indian community to be present, both from the UAE and abroad. The Hindu group that is building the temple will have their holiest leader attending – and we expect very senior representation from the leadership of the UAE.

When the designs were taken to the leadership, there were two clear options. There was a New Jersey model with a rectangular structure with the temple recessed inside so it was not too visible from the outside and another was the Neasden temple in London with the spires in its classical shape. And they said: look we said we wanted a temple so it should look like a temple. So this should be a classical style temple in all its glory.

It is beautifully located - 30 minutes outside of Abu Dhabi and barely 45 minutes to Dubai so it serves the needs of both communities.

This is going to be the big temple where I expect people to come from across the country at major festivals and occasions.

It is hugely important – it will take a couple of years to complete given the scale. It is going to be remarkable and will contribute something not just to the landscape in terms of visual architecture but also to the ethos. Here will be a real representation of UAE’s pluralism.

Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

Available: Now

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
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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.”

At a glance - Zayed Sustainability Prize 2020

Launched: 2008

Categories: Health, energy, water, food, global high schools

Prize: Dh2.2 million (Dh360,000 for global high schools category)

Winners’ announcement: Monday, January 13

 

Impact in numbers

335 million people positively impacted by projects

430,000 jobs created

10 million people given access to clean and affordable drinking water

50 million homes powered by renewable energy

6.5 billion litres of water saved

26 million school children given solar lighting

The Details

Kabir Singh

Produced by: Cinestaan Studios, T-Series

Directed by: Sandeep Reddy Vanga

Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa

Rating: 2.5/5 

The specs: 2018 Ducati SuperSport S

Price, base / as tested: Dh74,900 / Dh85,900

Engine: 937cc

Transmission: Six-speed gearbox

Power: 110hp @ 9,000rpm

Torque: 93Nm @ 6,500rpm

Fuel economy, combined: 5.9L / 100km

Updated: November 15, 2022, 10:14 AM