• President Sheikh Mohamed welcomes Mark Rutte, Prime Minister of the Netherlands, at Al Shati Palace in Abu Dhabi. Photo: UAE Presidential Court
    President Sheikh Mohamed welcomes Mark Rutte, Prime Minister of the Netherlands, at Al Shati Palace in Abu Dhabi. Photo: UAE Presidential Court
  • Mr Rutte tours the Abrahamic Family House in Abu Dhabi. Victor Besa / The National
    Mr Rutte tours the Abrahamic Family House in Abu Dhabi. Victor Besa / The National
  • Mr Rutte and Gerard Steeghs, the Dutch ambassador to the UAE, visit the Abrahamic Family House. Victor Besa / The National
    Mr Rutte and Gerard Steeghs, the Dutch ambassador to the UAE, visit the Abrahamic Family House. Victor Besa / The National
  • Mr Rutte says deepening ties with the UAE is crucial for his country. Victor Besa / The National
    Mr Rutte says deepening ties with the UAE is crucial for his country. Victor Besa / The National
  • Mohamed Al Mubarak, chairman of the Department of Culture and Tourism, meets Mr Rutte and Mr Steeghs during a tour of the Abrahamic Family House. Victor Besa / The National
    Mohamed Al Mubarak, chairman of the Department of Culture and Tourism, meets Mr Rutte and Mr Steeghs during a tour of the Abrahamic Family House. Victor Besa / The National
  • Mr Al Mubarak speaks with the Dutch Prime Minister. Victor Besa / The National
    Mr Al Mubarak speaks with the Dutch Prime Minister. Victor Besa / The National

Dutch PM Mark Rutte pledges to work with UAE to deliver results at Cop28


Ramola Talwar Badam
  • English
  • Arabic

Dutch Prime Minister Mark Rutte has pledged to work with Cop28 host the UAE to mobilise action on a $100 billion package to support lower-income communities around the world affected by climate change.

Mr Rutte made the commitment during discussions with President Sheikh Mohamed on Tuesday to support the UAE in delivering the $100 billion funding for climate action in the developing world.

In Abu Dhabi for a day packed with meetings with the government, business leaders and youth, Mr Rutte told The National in an exclusive interview he was hopeful of a successful Cop28 and wanted to be part of mobilising forces to deliver the long-stalled funding.

My main message is this relationship, for us, is crucially important
Mark Rutte,
Dutch Prime Minister

“We want to be one of the drivers, co-drivers, to make it happen,” Mr Rutte said.

“I pledged to His Highness the President that he can count on us to do everything we can in this direction to make sure that we collectively deliver a successful Cop.”

In the run-up to the global climate summit starting in November, the UAE has called on countries to deliver on the annual funding target that was promised to developing nations in Copenhagen in 2009.

“We will very much help driving results on the $100 billion pledge, which is still an irritant for the South and I think we are close to getting an agreement at this Cop and that will be a fantastic success if that is possible,” Mr Rutte said.

“It will take away a huge sticking point, an irritant between the North and the Global South.”

Green hydrogen

During Tuesday's talks with Sheikh Mohamed, Mr Rutte also focused on developing a green hydrogen supply chain from Abu Dhabi to Europe.

Masdar had signed an agreement with four Dutch companies to explore exporting green hydrogen from Abu Dhabi that involves production in the emirate and export to the Netherlands through the Port of Amsterdam.

“Together we can do a lot in terms of innovation, research and development,” he said.

“The Netherlands is very good in transport and in Europe we have this very intricate piping system through the country but also to the rest of Europe.”

President Sheikh Mohamed welcomes Dutch Prime Minister Mark Rutte in Abu Dhabi. EPA
President Sheikh Mohamed welcomes Dutch Prime Minister Mark Rutte in Abu Dhabi. EPA

He said working together on the green hydrogen project was key to plans for the ministries taking discussions forward.

As part of the official visit, Mr Rutte and Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, agreed to strengthen co-operation in key sectors such as renewable energy, space industry, artificial intelligence, entrepreneurship, agri-tech and smart mobility solutions.

The two men witnessed the signing of a partnership on water management following a roundtable in Dubai held under the theme, 'energising the future'.

Mr Rutte will be back in the UAE for Cop28 and also plans to return to Abu Dhabi early next year to follow up on the hydrogen talks.

On Tuesday, he spoke of deepening and strengthening ties between the UAE and the Netherlands.

“My main message is this relationship for us is crucially important,” Mr Rutte said.

“Yes, we have a very good relationship – it is very much trade-based and there is so much more we can do.

“From today onwards, our relationship will be about much more – it will be a strategic relationship.”

Co-operation on green hydrogen, artificial intelligence, safe sea routes, education, water, working on free trade between the UAE and Europe and expanding cultural exchange between the two nations was also discussed.

Longest-serving Dutch prime minister

Mr Rutte is the country’s longest-serving prime minister and has been in office since 2010.

After 13 years in power, following a dispute over immigration that led to the collapse of his coalition government, he announced his retirement from politics in July.

He will stay on in a caretaker role, even after the elections in November as it will be months before a new team is assembled.

Migration has been a major issue in the Netherlands and across Europe and Mr Rutte’s coalition has spoken out against the unchecked flow of economic migrants.

“The main areas to focus on for the next government will absolutely be migration because that is out of control at the moment,” Mr Rutte said.

“Somehow, we have to make sure we can get back in control and particularly help the most vulnerable.

“At the moment we are not helping the most vulnerable because we have so many economic migrants.”

Mr Rutte has been a staunch supporter of Ukraine's President Volodymyr Zelenskyy, with the Dutch government committing to transfer F-16 fighter jets to his country.

He said the public continued to be supportive of Ukraine in the war with Russia.

“This is, of course, about Ukraine but also about us,” he said. “You cannot as a big country invade a small country.

“We cannot accept in these days and times this kind of aggression.

“There is an issue of values at stake here but also that our own security is at stake because if [Russian President Vladimir] Putin were to win in Ukraine, he will not stop there – he will continue. And that makes the whole of Europe unstable.”

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The 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

The specs

Price: From Dh180,000 (estimate)

Engine: 2.0-litre turbocharged and supercharged in-line four-cylinder

Transmission: Eight-speed automatic

Power: 320hp @ 5,700rpm

Torque: 400Nm @ 2,200rpm

Fuel economy, combined: 9.7L / 100km

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.0-litre%20twin-turbo%20V6%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E10-speed%20auto%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E400bhp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E563Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh320%2C000%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
BUNDESLIGA FIXTURES

Friday (UAE kick-off times)

Borussia Dortmund v Paderborn (11.30pm)

Saturday 

Bayer Leverkusen v SC Freiburg (6.30pm)

Werder Bremen v Schalke (6.30pm)

Union Berlin v Borussia Monchengladbach (6.30pm)

Eintracht Frankfurt v Wolfsburg (6.30pm)

Fortuna Dusseldof v  Bayern Munich (6.30pm)

RB Leipzig v Cologne (9.30pm)

Sunday

Augsburg v Hertha Berlin (6.30pm)

Hoffenheim v Mainz (9pm)

 

 

 

 

 

Visa changes give families fresh hope

Foreign workers can sponsor family members based solely on their income

Male residents employed in the UAE can sponsor immediate family members, such as wife and children, subject to conditions that include a minimum salary of Dh 4,000 or Dh 3,000 plus accommodation.

Attested original marriage certificate, birth certificate of the child, ejari or rental contract, labour contract, salary certificate must be submitted to the government authorised typing centre to complete the sponsorship process

In Abu Dhabi, a woman can sponsor her husband and children if she holds a residence permit stating she is an engineer, teacher, doctor, nurse or any profession related to the medical sector and her monthly salary is at least Dh 10,000 or Dh 8,000 plus accommodation.

In Dubai, if a woman is not employed in the above categories she can get approval to sponsor her family if her monthly salary is more than Dh 10,000 and with a special permission from the Department of Naturalization and Residency Dubai.

To sponsor parents, a worker should earn Dh20,000 or Dh19,000 a month, plus a two-bedroom accommodation

 

 

 

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UFC%20in%20Abu%20Dhabi
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Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

How to help

Donate towards food and a flight by transferring money to this registered charity's account.

Account name: Dar Al Ber Society

Account Number: 11 530 734

IBAN: AE 9805 000 000 000 11 530 734

Bank Name: Abu Dhabi Islamic Bank

To ensure that your contribution reaches these people, please send the copy of deposit/transfer receipt to: juhi.khan@daralber.ae

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel

Company%20Profile
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Planes grounded by coronavirus

British Airways: Cancels all direct flights to and from mainland China 

Hong Kong-based Cathay Pacific: Cutting capacity to/from mainland China by 50 per cent from Jan. 30

Chicago-based United Airlines: Reducing flights to Beijing, Shanghai, and Hong Kong

Ai Seoul:  Suspended all flights to China

Finnair: Suspending flights to Nanjing and Beijing Daxing until the end of March

Indonesia's Lion Air: Suspending all flights to China from February

South Korea's Asiana Airlines,  Jeju Air  and Jin Air: Suspend all flights

Company profile

Name: Dukkantek 

Started: January 2021 

Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani 

Based: UAE 

Number of employees: 140 

Sector: B2B Vertical SaaS(software as a service) 

Investment: $5.2 million 

Funding stage: Seed round 

Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office  

Result

2.15pm: Maiden Dh75,000 1,950m; Winner: Majestic Thunder, Tadhg O’Shea (jockey), Satish Seemar (trainer).

2.45pm: Handicap Dh80,000 1,800m; Winner: Tailor’s Row, Royston Ffrench, Salem bin Ghadayer.

3.15pm: Handicap Dh85,000 1,600m; Winner: Native Appeal, Adam McLean, Doug Watson.

3.45pm: Handicap Dh115,000 1,950m; Winner: Conclusion, Antonio Fresu, Musabah Al Muhairi.

4.15pm: Handicap Dh100,000 1,400m; Winner: Pilgrim’s Treasure, Tadhg O’Shea, Satish Seemar.

4.45pm: Maiden Dh75,000 1,400m; Winner: Sanad Libya, Richard Mullen, Satish Seemar.

5.15pm: Handicap Dh90,000 1,000m; Winner: Midlander, Richard Mullen, Satish Seemar

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

The biog

Name: Dr Lalia Al Helaly 

Education: PhD in Sociology from Cairo

Favourite authors: Elif Shafaq and Nizar Qabbani.

Favourite music: classical Arabic music such as Um Khalthoum and Abdul Wahab,

She loves the beach and advises her clients to go for meditation.

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

Updated: September 27, 2023, 6:21 AM