Representatives of Hadramawt province meet Presidential Leadership Council chairman Rashad Al Alimi. Photo: Presidential Leadership Council
Representatives of Hadramawt province meet Presidential Leadership Council chairman Rashad Al Alimi. Photo: Presidential Leadership Council
Representatives of Hadramawt province meet Presidential Leadership Council chairman Rashad Al Alimi. Photo: Presidential Leadership Council
Representatives of Hadramawt province meet Presidential Leadership Council chairman Rashad Al Alimi. Photo: Presidential Leadership Council

Yemeni Hadramawt residents launch rights organisation with Saudi mediation


Ismaeel Naar
  • English
  • Arabic

Political and social groups from Hadramawt province in eastern Yemen have formed an organisation to campaign for their rights.

The founding of the Hadramawt National Council was announced in Riyadh on Tuesday.

“The new council aims to serve as a political platform to express the aspirations and represent the interests of the Hadhrami community in Yemen,” the group said.

The creation of the council followed more than a month of talks sponsored by the Saudi-led Arab Coalition.

The coalition was formed to support Yemen's internationally recognised government after Iran-backed Houthi rebels seized the capital, Sanaa, in 2014. The ensuing civil war led to the formation of numerous regional militias that have supported the Yemeni army in fighting the rebels, but have also occasionally turned against each other.

“We agreed on one political charter that will represent Hadramawt locally, regionally and internationally on all issues,” Bader Baslamah, the head of the council, told reporters in Riyadh.

The council's charter, described by its leaders as "comprehensive and responsible", stipulates that it will stand against “the establishment of any military formations outside state institutions”.

A Yemeni sits on a mountain overlooking the mud-brick 'skyscrapers' of the ancient walled city of Shibam in Hadramawt province. EPA
A Yemeni sits on a mountain overlooking the mud-brick 'skyscrapers' of the ancient walled city of Shibam in Hadramawt province. EPA

Those in attendance in Riyadh said they had formed the council after consultations with Yemen’s Presidential Leadership Council, Yemen's governing body created last year through Saudi mediation to reach a "comprehensive political solution" to the civil war.

“I was pleased with the frank and transparent meeting today with the people of Hadramawt province, who always embody the spirit of responsibility in distancing their governorate and the liberated areas from any conflicts," PLC chairman Rashad Al Alimi said.

Mr Al Alimi praised Hadramawt residents' devotion to developing and rebuilding their region, and confronting "lurking" Iranian influence.

Hadramawt is the biggest province in southern Yemen. The Southern Transitional Council (STC) advocates greater autonomy for the country's south, or even the creation of a separate state, as had existed until 1990.

Much of northern Yemen remains under Houthi control, the while the government controls most of the south.

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

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Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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.”

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Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
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Fuel economy, combined 10.7L / 100km

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Wednesday, April 24: 11am-6pm Abu Dhabi World Professional Jiu-Jitsu Championship.

Thursday, April 25: 11am-5pm Abu Dhabi World Professional Jiu-Jitsu Championship.

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Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

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Profile

Company: Justmop.com

Date started: December 2015

Founders: Kerem Kuyucu and Cagatay Ozcan

Sector: Technology and home services

Based: Jumeirah Lake Towers, Dubai

Size: 55 employees and 100,000 cleaning requests a month

Funding:  The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups. 

Updated: June 21, 2023, 4:54 PM