• Xi Jinping, President of the People's Republic of China, leaves Riyadh. SPA
    Xi Jinping, President of the People's Republic of China, leaves Riyadh. SPA
  • Mr Xi during the China-Arab Summit in Riyadh. AFP
    Mr Xi during the China-Arab Summit in Riyadh. AFP
  • Mr Xi and Palestinian President Mahmoud Abbas. AP
    Mr Xi and Palestinian President Mahmoud Abbas. AP
  • Iraqi Prime Minister Mohammed Shia Al Sudani and Mr Xi.
    Iraqi Prime Minister Mohammed Shia Al Sudani and Mr Xi.
  • Saudi Arabia's King Salman welcomes Mr Xi to Riyadh. EPA
    Saudi Arabia's King Salman welcomes Mr Xi to Riyadh. EPA
  • The Chinese president is on a three-day working visit to Saudi Arabia. EPA
    The Chinese president is on a three-day working visit to Saudi Arabia. EPA
  • He will attend a GCC summit, a wider China-Arab conference and also seek to strengthen ties with Saudi Arabia. EPA
    He will attend a GCC summit, a wider China-Arab conference and also seek to strengthen ties with Saudi Arabia. EPA
  • Saudi Arabia and China signed agreements on 'harmonising' the kingdom's Vision 2030 plan and China's Belt and Road Initiative on Thursday. EPA
    Saudi Arabia and China signed agreements on 'harmonising' the kingdom's Vision 2030 plan and China's Belt and Road Initiative on Thursday. EPA
  • The new agreements also covered judicial assistance, direct investments, education and hydrogen energy. EPA
    The new agreements also covered judicial assistance, direct investments, education and hydrogen energy. EPA
  • King Salman and Mr Xi agreed to hold meetings every two years. AFP
    King Salman and Mr Xi agreed to hold meetings every two years. AFP
  • Saudi Crown Prince Mohammed bin Salman welcomes Mr Xi during a ceremony in the capital, Riyadh. AFP
    Saudi Crown Prince Mohammed bin Salman welcomes Mr Xi during a ceremony in the capital, Riyadh. AFP
  • Mr Xi met Prince Mohammed on the second day of his state visit to Saudi Arabia. Reuters
    Mr Xi met Prince Mohammed on the second day of his state visit to Saudi Arabia. Reuters
  • They shook hands in the Royal Court in Riyadh before Prince Mohammed led Mr Xi inside to meet King Salman. AFP
    They shook hands in the Royal Court in Riyadh before Prince Mohammed led Mr Xi inside to meet King Salman. AFP
  • Mr Xi will attend the inaugural China-Arab States Summit. Saudi Press Agency
    Mr Xi will attend the inaugural China-Arab States Summit. Saudi Press Agency
  • It is only Mr Xi's third overseas visit since the outbreak of Covid-19. SPA
    It is only Mr Xi's third overseas visit since the outbreak of Covid-19. SPA
  • Mr Xi is greeted by Prince Faisal bin Bandar, Governor of Riyadh. SPA
    Mr Xi is greeted by Prince Faisal bin Bandar, Governor of Riyadh. SPA
  • A billboard welcomes the Chinese president to Saudi Arabia. AFP
    A billboard welcomes the Chinese president to Saudi Arabia. AFP
  • Saudi and Chinese flags adorn a street a street in Riyadh before the arrival of Mr Xi. AFP
    Saudi and Chinese flags adorn a street a street in Riyadh before the arrival of Mr Xi. AFP

Xi Jinping quotes Prophet Mohammed as he lauds 'new era' in Arab relationship


Nada AlTaher
  • English
  • Arabic

Chinese President Xi Jinping lauded longstanding cultural and economic ties with Saudi Arabia in a written statement released by the Chinese government on the second day of his state visit to Riyadh.

"China and Saudi Arabia have admired each other and conducted friendly exchanges since ancient times. The Prophet Mohammed said, 'Seek knowledge even if you have to go as far as China,'" he wrote.

Mr Xi said his visit to the kingdom would "usher in a new era" in Chinese-Arab relations.

He highlighted examples more than 2000 years of ties his country has had with Arab states, citing Chinese traveller Wang Dayuan, whom Mr Xi said made a pilgrimage to Makkah during the Yuan Dynasty (1271-1368).

"He described [it] as a place with beautiful sceneries, mild weather, fertile rice fields, and a happy people," Mr Xi wrote, adding that archaeological discoveries found in Saudi Arabia belonging to China's Song and Yuan dynasties "stand as testaments to all those friendly interactions", between the two nations.

Multibillion-dollar agreements are expected to be signed during the state visit. Mr Xi said China's collaboration with Arab states in building famous monuments such as the Lusail Stadium of Qatar, where major World Cup matches are taking place, the Central Bank of Kuwait and the Djamaa El Djazair Mosque of Algeria "have become landmarks of the China-Arab friendship".

Mr Xi said that co-operation extended to education as well.

An exhibition of Chinese drawings during the opening of the Confucius Institute at the University of Dubai in 2011. Jeff Topping / The National
An exhibition of Chinese drawings during the opening of the Confucius Institute at the University of Dubai in 2011. Jeff Topping / The National

"China has set up 20 Confucius institutes and two Confucius classrooms in Arab states. And over 40 Chinese universities teach Arabic as a major, contributing inexhaustible energy for growing China-Arab friendship," he said in the statement.

Bandar bin Ibrahim Al Khorayef, Saudi Minister of Industry and Mineral Resources, said non-oil exports to China last year amounted to more than $9.6 billion while exports to the country reached $27.8 billion.

"The Saudi Authority for Industrial Cities and Technology Zones [Modon] host seven Chinese factories in various fields including plastics, metals, ceramics, concrete and food industries in addition to around 10 other factories under planning and construction," the minister said on Thursday.

Mr Xi said he was "proud" of "good friend" Saudi Arabia for initiatives in green energy, adding that while diplomatic ties between the two nations have always been strong, real progress had been made in the past decade.

"China-Saudi Arabia co-operation has made major headway in the past 10 years," Mr Xi said.

"The two sides respect each other’s sovereignty and development path, respect each other’s history and cultural traditions, support each other in defending national security and stability, and undertake close strategic co-ordination."

Mr Xi will attend the first China-Arab States Summit, meeting GCC leaders in Riyadh.

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.”

Sanju

Produced: Vidhu Vinod Chopra, Rajkumar Hirani

Director: Rajkumar Hirani

Cast: Ranbir Kapoor, Vicky Kaushal, Paresh Rawal, Anushka Sharma, Manish’s Koirala, Dia Mirza, Sonam Kapoor, Jim Sarbh, Boman Irani

Rating: 3.5 stars

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
What is Diwali?

The Hindu festival is at once a celebration of the autumn harvest and the triumph of good over evil, as outlined in the Ramayana.

According to the Sanskrit epic, penned by the sage Valmiki, Diwali marks the time that the exiled king Rama – a mortal with superhuman powers – returned home to the city of Ayodhya with his wife Sita and brother Lakshman, after vanquishing the 10-headed demon Ravana and conquering his kingdom of Lanka. The people of Ayodhya are believed to have lit thousands of earthen lamps to illuminate the city and to guide the royal family home.

In its current iteration, Diwali is celebrated with a puja to welcome the goodness of prosperity Lakshmi (an incarnation of Sita) into the home, which is decorated with diyas (oil lamps) or fairy lights and rangoli designs with coloured powder. Fireworks light up the sky in some parts of the word, and sweetmeats are made (or bought) by most households. It is customary to get new clothes stitched, and visit friends and family to exchange gifts and greetings.  

 

How to volunteer

The UAE volunteers campaign can be reached at www.volunteers.ae , or by calling 800-VOLAE (80086523), or emailing info@volunteers.ae.

Alita: Battle Angel

Director: Robert Rodriguez

Stars: Rosa Salazar, Christoph Waltz, Keean Johnson

Four stars

Juvenile arthritis

Along with doctors, families and teachers can help pick up cases of arthritis in children.
Most types of childhood arthritis are known as juvenile idiopathic arthritis. JIA causes pain and inflammation in one or more joints for at least six weeks.
Dr Betina Rogalski said "The younger the child the more difficult it into pick up the symptoms. If the child is small, it may just be a bit grumpy or pull its leg a way or not feel like walking,” she said.
According to The National Institute of Arthritis and Musculoskeletal and Skin Diseases in US, the most common symptoms of juvenile arthritis are joint swelling, pain, and stiffness that doesn’t go away. Usually it affects the knees, hands, and feet, and it’s worse in the morning or after a nap.
Limping in the morning because of a stiff knee, excessive clumsiness, having a high fever and skin rash are other symptoms. Children may also have swelling in lymph nodes in the neck and other parts of the body.
Arthritis in children can cause eye inflammation and growth problems and can cause bones and joints to grow unevenly.
In the UK, about 15,000 children and young people are affected by arthritis.

Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

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

Updated: December 08, 2022, 4:12 PM