Sudanese Prime Minister Abdalla Hamdok and Egyptian President Abdel Fattah El Sisi on Tuesday agreed to “work closely” on the protracted dispute with Ethiopia over the Grand Ethiopian Renaissance Dam project.
Mr Hamdok’s visit to Cairo took place less than a week after Mr El Sisi flew to Sudan on a milestone visit, capping Cairo’s intense courting of its southern neighbour after years of tension during the rule of dictator Omar Al Bashir, who was removed in 2019.
A presidential statement said the pair agreed their two countries should “work closely at this critical moment” to secure the involvement of regional and international powers in the pursuit of a resolution.
“The declared intention by Ethiopia to go ahead with a second filling leaves us very little to deal with the issue,” Mr Hamdok, standing next to the Egyptian leader, told reporters after the meeting. “But we are filled with hope that during this little time, we can manage to see the filling go ahead in a way that’s agreed upon.”
On March 4, the two countries signed a military co-operation agreement that crowned a series of joint war games and high-level visits amid pledges by the Egyptian military that it would rush to Sudan’s aid if needed.
Egypt and Sudan also intend to build a cross-border railway link, include energy-starved Sudan into Egypt’s power grid and start major agricultural and trade projects.
Years of negotiations between downstream Egypt and Sudan and Ethiopia over the hydroelectric dam have failed to produce a legally binding agreement on how much of the river’s water Addis Ababa should release during years of drought as well as on mechanisms to resolve disputes and govern its filling and operation.
The dispute has taken on added urgency since Ethiopia declared it would go ahead in July with a second and much larger filling of the dam, regardless of whether an agreement with Egypt and Sudan was in place.
A border dispute between Ethiopia and Sudan that led to a series of deadly clashes starting in December has fuelled tension in the region, with a full-blown border war now a possibility.
“We emphasise the preservation of the historical rights and interests of the two nations, so long as our brothers in Ethiopia are not hurt by that,” Egyptian Prime Minister Mustafa Madbouli told reporters after his Sudanese counterpart met Mr El Sisi.
“We are not against development in Ethiopia. We actually support it, but on condition that it does not hurt our two peoples.
“We are confident that this glorious river extends a hand of prosperity and progress to the three peoples,” he said.
Sudan insists that Ethiopia must share data on the operation of the dam to avoid flooding in its eastern region and avoid the disruption of work in its own power-generating dams on the Blue Nile, the source of more than 80 per cent of the Nile's water.
Egypt fears the dam will rob it of a significant chunk of its share of the river’s water, on which it is heavily dependent. It has called the dam an “existential” threat to its 100 million people.
Ethiopia, whose highlands are home to the source of the Blue Nile, says the power generated by the dam will pluck millions of its people out of poverty and give it a surplus of power to export.
Negotiations between the three nations over the dam broke down late last year, and Sudan and Egypt now are demanding that a quartet of the US, UN, EU and the African Union join the negotiations when they resume as mediators.
Ethiopia has rejected the idea, arguing that the dam is an African problem that should be resolved by Africans alone.
Mr El Sisi on Tuesday said that while Egypt wanted the dispute resolved through diplomacy, it will not be negotiating indefinitely
Bournemouth 0
Manchester United 2
Smalling (28'), Lukaku (70')
Essentials
The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes.
Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes.
In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes.
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.
Global state-owned investor ranking by size
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United States
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2.
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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6.
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Canada
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7.
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Singapore
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8.
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Australia
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9.
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Saudi Arabia
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South Korea
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German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
How Sputnik V works
UAE currency: the story behind the money in your pockets
THE DETAILS
Solo: A Star Wars Story
Director: Ron Howard
2/5
Second Test, Day 2:
South Africa 335 & 75/1 (22.0 ov)
England 205
South Africa lead by 205 runs with 9 wickets remaining
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Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
UAE squad
Ali Kashief, Salem Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdelrahman, Mohammed Al Attas (Al Jazira), Mohmmed Al Shamsi, Hamdan Al Kamali, Mohammad Barghash, Khalil Al Hammadi (Al Wahda), Khalid Eisa, Mohammed Shakir, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Adel Al Hosani, Al Hassan Saleh, Majid Suroor (Sharjah), Waleed Abbas, Ismail Al Hammadi, Ahmed Khalil (Shabab Al Ahli Dubai) Habib Fardan, Tariq Ahmed, Mohammed Al Akbari (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Mahrami (Baniyas)
Company%20profile
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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.”
Top Hundred overseas picks
London Spirit: Kieron Pollard, Riley Meredith
Welsh Fire: Adam Zampa, David Miller, Naseem Shah
Manchester Originals: Andre Russell, Wanindu Hasaranga, Sean Abbott
Northern Superchargers: Dwayne Bravo, Wahab Riaz
Oval Invincibles: Sunil Narine, Rilee Rossouw
Trent Rockets: Colin Munro
Birmingham Phoenix: Matthew Wade, Kane Richardson
Southern Brave: Quinton de Kock
HER%20FIRST%20PALESTINIAN
%3Cp%3EAuthor%3A%20Saeed%20Teebi%3C%2Fp%3E%0A%3Cp%3EPages%3A%20256%3C%2Fp%3E%0A%3Cp%3EPublisher%3A%C2%A0House%20of%20Anansi%20Press%3C%2Fp%3E%0A
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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MATCH INFO
Quarter-finals
Saturday (all times UAE)
England v Australia, 11.15am
New Zealand v Ireland, 2.15pm
Sunday
Wales v France, 11.15am
Japan v South Africa, 2.15pm
England's all-time record goalscorers:
Wayne Rooney 53
Bobby Charlton 49
Gary Lineker 48
Jimmy Greaves 44
Michael Owen 40
Tom Finney 30
Nat Lofthouse 30
Alan Shearer 30
Viv Woodward 29
Frank Lampard 29
First Person
Richard Flanagan
Chatto & Windus
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