Kuwait's Foreign Minister Sabah Al Sabah gestures during a news conference with Nayef Al Hajraf, Secretary General of the Gulf Cooperation Council. Reuters
Kuwait's Foreign Minister Sabah Al Sabah gestures during a news conference with Nayef Al Hajraf, Secretary General of the Gulf Cooperation Council. Reuters
Kuwait's Foreign Minister Sabah Al Sabah gestures during a news conference with Nayef Al Hajraf, Secretary General of the Gulf Cooperation Council. Reuters
Kuwait's Foreign Minister Sabah Al Sabah gestures during a news conference with Nayef Al Hajraf, Secretary General of the Gulf Cooperation Council. Reuters

GCC: Political will needed to keep nuclear weapons out of Middle East


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Gulf Co-operation Council members will spare no effort to ensure the Middle East remains a nuclear weapons-free zone, even as countries begin exploring peaceful nuclear energy production, member states said on Monday.

The decision will require the “political will” of all members, they said.

Abdulaziz Al Wasil, Saudi Arabia's permanent representative to the UN, said the kingdom supports all efforts to ensure the Middle East remains free of nuclear weapons and said Riyadh would pursue “co-operation with the countries of the region to achieve that desired objective”.

He said the failure to achieve a nuclear weapons-free Middle East would pose an imminent threat to international and regional peace and security.

He also raised concerns about “clandestine” nuclear activities in the Middle East and nuclear facilities that are not controlled by the International Atomic Energy Agency (IAEA), referencing Israel's undeclared nuclear arsenal and Iran's enrichment activities.

“The continued Israeli nuclear facilities outside the scope of monitoring by the IAEA, as well as the other clandestine nuclear activities, necessitate that we ensure these are for peaceful purposes and this is a real concern,” Mr Al Wasil said.

Although it has refused to disclose its capabilities, Israel is believed to hold between 80 and 400 nuclear warheads and the capacity to produce plutonium for weapons purposes. It is also believed to have the capability to deliver nuclear strikes by air, submarine-launched cruise missiles and intercontinental ballistic missiles.

  • New generation Iranian centrifuges on display for Iran's National Nuclear Energy Day in Tehran, in April 2021. Iranian Presidency Office / Wana
    New generation Iranian centrifuges on display for Iran's National Nuclear Energy Day in Tehran, in April 2021. Iranian Presidency Office / Wana
  • President Ebrahim Raisi, second right, is accompanied by Atomic Energy Organisation of Iran chief Mohammad Eslami, at Nuclear Technology Day in Tehran in April 2022. Iranian presidency / AFP
    President Ebrahim Raisi, second right, is accompanied by Atomic Energy Organisation of Iran chief Mohammad Eslami, at Nuclear Technology Day in Tehran in April 2022. Iranian presidency / AFP
  • Mr Raisi and Mr Eslami at the April 2022 event. Iranian presidency / AFP
    Mr Raisi and Mr Eslami at the April 2022 event. Iranian presidency / AFP
  • The Bushehr Nuclear Power Plant during a visit by Mr Raisi in October 2021. Iranian Presidency / AFP
    The Bushehr Nuclear Power Plant during a visit by Mr Raisi in October 2021. Iranian Presidency / AFP
  • Iran's Arak Heavy Water Reactor complex, south of the capital Tehran in January 2020. Maxar Technologies / AFP
    Iran's Arak Heavy Water Reactor complex, south of the capital Tehran in January 2020. Maxar Technologies / AFP
  • A satellite image of Iran's Bushehr Nuclear Power Plant in January 2020. Maxar Technologies / AFP
    A satellite image of Iran's Bushehr Nuclear Power Plant in January 2020. Maxar Technologies / AFP
  • A satellite image of Iran's underground Natanz nuclear site in May 2022. Planet Labs PBC / AP
    A satellite image of Iran's underground Natanz nuclear site in May 2022. Planet Labs PBC / AP
  • A satellite image in January 2020 of Iran's Fordow Fuel Enrichment Plant, north-east of the city of Qom. Maxar Technologies / AFP
    A satellite image in January 2020 of Iran's Fordow Fuel Enrichment Plant, north-east of the city of Qom. Maxar Technologies / AFP
  • The Sanjarian nuclear centre, east of Tehran, in May 2021. Maxar Technologies / AFP
    The Sanjarian nuclear centre, east of Tehran, in May 2021. Maxar Technologies / AFP

Middle East states have long called for Israel to open its nuclear facilities to IAEA inspectors and dismantle its arsenal.

Although Tehran has said it has no desire to build nuclear weapons, Iran is under heavy US and international sanctions for its advanced enrichment of uranium up to or close to weapons grade. This is well beyond the terms agreed in 2015 with world powers at the signing of the JCPOA nuclear agreement to limit enrichment to peaceful levels and restrict the quantities of enriched uranium Iran can hold.

Mr Al Wasil said all members must ensure the peaceful nature of all nuclear activities in the region as “a first step to achieving our primary objective” which is the establishment of a Middle East free zone.

The challenges facing the Middle East require concerted efforts to “de-escalate and build trust and express goodwill among all countries of the region” he said. This will ensure peaceful coexistence and achieve development and prosperity for all, he said.

GCC nations will continue to use nuclear energy peacefully in line with the aims of the UN’s landmark 1970 Non-Proliferation Treaty (NPT).

In 2021 the UAE's Barakah nuclear plant went online, becoming the Arab world's first nuclear power station. Since then, Saudi Arabia has announced plans to build a 2,800 megawatt nuclear power plant and Jordan is also looking into the feasibility of nuclear energy.

  • The UAE has issued an operating licence for the fourth and final unit of its Barakah Nuclear Energy Plant. FANR
    The UAE has issued an operating licence for the fourth and final unit of its Barakah Nuclear Energy Plant. FANR
  • Unit three of Abu Dhabi's Barakah Nuclear Energy Plant started commercial operations in February. Photo: Emirates Nuclear Energy Corporation
    Unit three of Abu Dhabi's Barakah Nuclear Energy Plant started commercial operations in February. Photo: Emirates Nuclear Energy Corporation
  • A view of the Barakah nuclear site under construction in 2012.
    A view of the Barakah nuclear site under construction in 2012.
  • Unit 1 being built in 2013 in the Western region of Abu Dhabi.
    Unit 1 being built in 2013 in the Western region of Abu Dhabi.
  • The Emirates Nuclear Energy Corporation selected a Korean consortium in 2013 to build four APR-1400 reactors. Photo: Enec
    The Emirates Nuclear Energy Corporation selected a Korean consortium in 2013 to build four APR-1400 reactors. Photo: Enec
  • Kristine Svinicki, head of the US Nuclear Regulatory Commission, toured the Barakah site in November 2013. Photo: Enec
    Kristine Svinicki, head of the US Nuclear Regulatory Commission, toured the Barakah site in November 2013. Photo: Enec
  • By August 2014, more than 55 per cent of construction at Unit 1 had been completed. Photo: Enec
    By August 2014, more than 55 per cent of construction at Unit 1 had been completed. Photo: Enec
  • The first nuclear reactor at Barakah in 2016. Christopher Pike / The National
    The first nuclear reactor at Barakah in 2016. Christopher Pike / The National
  • The UAE's nuclear energy programme is based in Barakah in the Western Region of Abu Dhabi. Photo: Enec
    The UAE's nuclear energy programme is based in Barakah in the Western Region of Abu Dhabi. Photo: Enec
  • Trainees learn to deal with potentially catastrophic scenarios at this simulator in Barakah. Christopher Pike / The National
    Trainees learn to deal with potentially catastrophic scenarios at this simulator in Barakah. Christopher Pike / The National
  • Khalid Naqbi was part of the first batch of resident inspectors sent to the construction site by the Federal Authority for Nuclear Regulation. Ravindranath K / The National
    Khalid Naqbi was part of the first batch of resident inspectors sent to the construction site by the Federal Authority for Nuclear Regulation. Ravindranath K / The National
The Pope's itinerary

Sunday, February 3, 2019 - Rome to Abu Dhabi
1pm: departure by plane from Rome / Fiumicino to Abu Dhabi
10pm: arrival at Abu Dhabi Presidential Airport


Monday, February 4
12pm: welcome ceremony at the main entrance of the Presidential Palace
12.20pm: visit Abu Dhabi Crown Prince at Presidential Palace
5pm: private meeting with Muslim Council of Elders at Sheikh Zayed Grand Mosque
6.10pm: Inter-religious in the Founder's Memorial


Tuesday, February 5 - Abu Dhabi to Rome
9.15am: private visit to undisclosed cathedral
10.30am: public mass at Zayed Sports City – with a homily by Pope Francis
12.40pm: farewell at Abu Dhabi Presidential Airport
1pm: departure by plane to Rome
5pm: arrival at the Rome / Ciampino International Airport

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
ARGYLLE
%3Cp%3EDirector%3A%20Matthew%20Vaughn%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Bryce%20Dallas%20Howard%2C%20Sam%20Rockwell%2C%20John%20Cena%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
The Buckingham Murders

Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu

Director: Hansal Mehta

Rating: 4 / 5

Profile Box

Company/date started: 2015

Founder/CEO: Mohammed Toraif

Based: Manama, Bahrain

Sector: Sales, Technology, Conservation

Size: (employees/revenue) 4/ 5,000 downloads

Stage: 1 ($100,000)

Investors: Two first-round investors including, 500 Startups, Fawaz Al Gosaibi Holding (Saudi Arabia)

The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

Specs%3A%202024%20McLaren%20Artura%20Spider
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%203.0-litre%20twin-turbo%20V6%20and%20electric%20motor%3Cbr%3E%3Cstrong%3EMax%20power%3A%3C%2Fstrong%3E%20700hp%20at%207%2C500rpm%3Cbr%3E%3Cstrong%3EMax%20torque%3A%3C%2Fstrong%3E%20720Nm%20at%202%2C250rpm%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%20Eight-speed%20dual-clutch%20auto%3Cbr%3E%3Cstrong%3E0-100km%2Fh%3A%3C%2Fstrong%3E%203.0sec%3Cbr%3E%3Cstrong%3ETop%20speed%3A%20%3C%2Fstrong%3E330kph%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh1.14%20million%20(%24311%2C000)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
Afghanistan Premier League - at a glance

Venue: Sharjah Cricket Stadium

Fixtures:

Tue, Oct 16, 8pm: Kandahar Knights v Kabul Zwanan; Wed, Oct 17, 4pm: Balkh Legends v Nangarhar Leopards; 8pm: Kandahar Knights v Paktia Panthers; Thu, Oct 18, 4pm: Balkh Legends v Kandahar Knights; 8pm: Kabul Zwanan v Paktia Panthers; Fri, Oct 19, 8pm: First semi-final; Sat, Oct 20, 8pm: Second semi-final; Sun, Oct 21, 8pm: final

Table:

1. Balkh Legends 6 5 1 10

2. Paktia Panthers 6 4 2 8

3. Kabul Zwanan 6 3 3 6

4. Nagarhar Leopards 7 2 5 4

5. Kandahar Knights 5 1 4 2

What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
  • Grade 4 = grade C
  • Grade 3 = between grades D and E
  • Grade 2 = between grades E and F
  • Grade 1 = between grades F and G
The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

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Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

Which honey takes your fancy?

Al Ghaf Honey

The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year

Sidr Honey

The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest

Samar Honey

The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments

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MATCH INFO

Rugby World Cup (all times UAE)

Final: England v South Africa, Saturday, 1pm

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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.”

Updated: November 15, 2022, 11:49 AM