• France's President Emmanuel Macron visits the Disco Maghreb music store in Oran, a home to Algeria's rai music, to meet its owner Boualem Benhaoua. AFP
    France's President Emmanuel Macron visits the Disco Maghreb music store in Oran, a home to Algeria's rai music, to meet its owner Boualem Benhaoua. AFP
  • A gift for France's President Emmanuel Macron from Boualem Benhaoua, owner of Oran's Disco Maghreb music store. AFP
    A gift for France's President Emmanuel Macron from Boualem Benhaoua, owner of Oran's Disco Maghreb music store. AFP
  • France's President Emmanuel Macron checks out an audio tape as Disco Maghreb owner Boualem Benhaoua and France's former culture minister and Arab World Institute President Jack Lang look on. AFP
    France's President Emmanuel Macron checks out an audio tape as Disco Maghreb owner Boualem Benhaoua and France's former culture minister and Arab World Institute President Jack Lang look on. AFP
  • Emmanuel Macron and Algiers' Catholic archbishop Mgr Jean-Paul Vesco during the French president's visit to the chapel at the Santa Cruz fortress in Oran. AFP
    Emmanuel Macron and Algiers' Catholic archbishop Mgr Jean-Paul Vesco during the French president's visit to the chapel at the Santa Cruz fortress in Oran. AFP
  • French President Emmanuel Macron, left, speaks with Imam of the Great Mosque of Algiers Mohamed Mamoun El-Kacimi El-Hassani, during a visit to the Great Mosque. AFP
    French President Emmanuel Macron, left, speaks with Imam of the Great Mosque of Algiers Mohamed Mamoun El-Kacimi El-Hassani, during a visit to the Great Mosque. AFP
  • Mr Macron, Algerian Foreign Affairs Minister Ramtane Lamamra, second left, and the imam during the tour of the Great Mosque. AFP
    Mr Macron, Algerian Foreign Affairs Minister Ramtane Lamamra, second left, and the imam during the tour of the Great Mosque. AFP
  • With Algerian President Abdelmadjid Tebboune, third right, and some of the country's top generals and senior security officials, at the presidential residence in Zeralda. AFP
    With Algerian President Abdelmadjid Tebboune, third right, and some of the country's top generals and senior security officials, at the presidential residence in Zeralda. AFP
  • Laying a wreath at the monument to the 'dead for France' during his visit to the European Saint-Eugene cemetery in Algiers. Mr Macron started a three-day visit to Algeria on August 25 to help mend ties with the former French colony. AFP
    Laying a wreath at the monument to the 'dead for France' during his visit to the European Saint-Eugene cemetery in Algiers. Mr Macron started a three-day visit to Algeria on August 25 to help mend ties with the former French colony. AFP
  • Mr Macron, left, and French film director Alexandre Arcady visit the Christian cemetery of Saint-Eugene in Algiers on August 26, 2022. AFP
    Mr Macron, left, and French film director Alexandre Arcady visit the Christian cemetery of Saint-Eugene in Algiers on August 26, 2022. AFP
  • President Macron during the visit to the European Saint-Eugene cemetery in Algiers. AFP
    President Macron during the visit to the European Saint-Eugene cemetery in Algiers. AFP
  • Emmanuel Macron speaks at the presidential palace in the Algerian capital, Algiers. AFP
    Emmanuel Macron speaks at the presidential palace in the Algerian capital, Algiers. AFP
  • Mr Macron with Algeria's President Abdelmadjid Tebboune at the presidential palace. AFP
    Mr Macron with Algeria's President Abdelmadjid Tebboune at the presidential palace. AFP
  • Mr Macron attends a banquet hosted by Mr Tebboune. AFP
    Mr Macron attends a banquet hosted by Mr Tebboune. AFP
  • The French president is on a three-day visit to Algeria.
    The French president is on a three-day visit to Algeria.
  • The visit is intended to help mend ties with the former French colony. AFP
    The visit is intended to help mend ties with the former French colony. AFP
  • Algeria this year marks the 60th anniversary of its independence from France. AP
    Algeria this year marks the 60th anniversary of its independence from France. AP
  • The French president reviews troops before talks with the Algerian leader. EPA
    The French president reviews troops before talks with the Algerian leader. EPA
  • Mr Macron was also expected to discuss boosting future economic relations. AP
    Mr Macron was also expected to discuss boosting future economic relations. AP
  • Laying a floral wreath at the Martyrs Monument in Algiers. AFP
    Laying a floral wreath at the Martyrs Monument in Algiers. AFP
  • Mr Macron at a viewpoint overlooking the Bay of Algiers during his visit to the Martyrs Monument. AFP
    Mr Macron at a viewpoint overlooking the Bay of Algiers during his visit to the Martyrs Monument. AFP
  • Mr Macron, accompanied by Algeria's Foreign Minister Ramtane Lamamra, on the visit to the Martyrs' Monument. AFP
    Mr Macron, accompanied by Algeria's Foreign Minister Ramtane Lamamra, on the visit to the Martyrs' Monument. AFP
  • French President Emmanuel Macron is welcomed by Algeria's President Abdelmadjid Tebboune in Algiers. AFP
    French President Emmanuel Macron is welcomed by Algeria's President Abdelmadjid Tebboune in Algiers. AFP
  • Mr Macron and Mr Tebboune review a guard of honour at Algiers International Airport. AFP
    Mr Macron and Mr Tebboune review a guard of honour at Algiers International Airport. AFP
  • The visit comes less than a year after a month-long diplomatic crisis between the two countries stirred up tensions. AFP
    The visit comes less than a year after a month-long diplomatic crisis between the two countries stirred up tensions. AFP
  • Mr Macron said he hopes the visit will 'lay a foundation to rebuild and develop' often fraught ties with Algeria. AFP
    Mr Macron said he hopes the visit will 'lay a foundation to rebuild and develop' often fraught ties with Algeria. AFP
  • Mr Macron and Mr Tebboune in discussion at the airport VIP lounge. AFP
    Mr Macron and Mr Tebboune in discussion at the airport VIP lounge. AFP
  • Mr Macron is accompanied by seven ministers for the visit. AFP
    Mr Macron is accompanied by seven ministers for the visit. AFP

France’s Macron arrives in Algeria on visit aimed at fixing ties


  • English
  • Arabic

France's President Emmanuel Macron arrived in Algeria on Thursday for a three-day visit aimed at mending ties with the former French colony, which this year marked 60 years of independence.

Mr Macron landed at 3.30pm local time at Houari Boumediene Airport, where he was received by his Algerian counterpart Abdelmadjid Tebboune.

The two leaders, who wore masks as part of Covid-19 health measures, shook hands and hugged each other at the airport before their countries’ national anthems were played.

After talks with Mr Tebboune at the airport, Mr Macron visited a monument to martyrs of the country's war for independence, which ended more than 130 years of French colonial rule in 1962.

Accompanied by Algeria's top diplomat Ramtane Lamamra, the French president laid a wreath at the site and observed a minute of silence, Algerian state news agency APS reported.

Mr Macron, who will meet entrepreneurs in Algiers as well as young people in Oran, Algeria's second city, is accompanied by a delegation comprising about 90 officials.

His visit comes as Russia's war on Ukraine has caused a gas supply crisis across Europe, increasing the continent's demand for energy supplies from North African producers such as Algeria.

Franco-Algerian relations have experienced repeated crises since independence.

French President Emmanuel Macron talks with Algeria's President Abdelmadjid Tebboune at the VIP lounge of the airport in Algiers at the start of his official visit to Algeria. AFP
French President Emmanuel Macron talks with Algeria's President Abdelmadjid Tebboune at the VIP lounge of the airport in Algiers at the start of his official visit to Algeria. AFP

Last year, the two nations got into a diplomatic spat when the French president accused Algerian leaders of “rewriting history” of their independence from colonial rule.

On his second visit to Algeria since he took power in 2017, the French leader “has chosen to direct this visit towards the future, [focusing on] start-ups, innovation, youth, new sectors”, his office said.

Algerian media said Mr Macron's visit showed both countries' desire for relations built on “a new vision based on equal treatment and balance of interests”.

It also reflected “a recognition of Algeria's central role in the region” and the country's “return to the international scene”.

France is home to about four million people of Algerian origin.

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A
2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

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.”

ALRAWABI%20SCHOOL%20FOR%20GIRLS
%3Cp%3ECreator%3A%20Tima%20Shomali%3C%2Fp%3E%0A%3Cp%3EStarring%3A%C2%A0Tara%20Abboud%2C%C2%A0Kira%20Yaghnam%2C%20Tara%20Atalla%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
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

Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
  • Drones
  • Animals
  • Fireworks/ flares
  • Radios or power banks
  • Laser pointers
  • Glass
  • Selfie sticks/ umbrellas
  • Sharp objects
  • Political flags or banners
  • Bikes, skateboards or scooters
Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

THE SPECS

      

 

Engine: 1.5-litre

 

Transmission: 6-speed automatic

 

Power: 110 horsepower 

 

Torque: 147Nm 

 

Price: From Dh59,700 

 

On sale: now  

 
The Penguin

Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz

Creator: Lauren LeFranc

Rating: 4/5

Updated: August 25, 2022, 5:43 PM