Humayun's Tomb in Delhi. The Indian capital hosted the Raisina Dialogue this week. Vanessa Ghanem / The National
Humayun's Tomb in Delhi. The Indian capital hosted the Raisina Dialogue this week. Vanessa Ghanem / The National
Humayun's Tomb in Delhi. The Indian capital hosted the Raisina Dialogue this week. Vanessa Ghanem / The National
Humayun's Tomb in Delhi. The Indian capital hosted the Raisina Dialogue this week. Vanessa Ghanem / The National

The view from Delhi: New world order emerging from ruins of the old


Vanessa Ghanem
  • English
  • Arabic

Policymakers, industry leaders and think tanks from around the world convened in India this week for the Raisina Dialogue 2025, engaging in discussions to navigate a rapidly evolving world.

At a time when old power structures are increasingly being challenged, a key question frequently came up: What will the emerging world order look like, and who will shape it?

The consensus was clear – the old order is fading, and a new one is taking shape, one that is more fragmented, competitive and formed by forces beyond the traditional centres of power, in a shift that requires abandoning old assumptions and embracing a more adaptive, inclusive approach.

“We do need an international order just like we need a domestic order,” said Dr S Jaishankar, India's Minister of External Affairs. “And it’s not just big countries that will benefit from this new order. I would argue that any country willing to take risks … will actually use this order to its advantage.”

With the inward-focused US pursuing unilateral strategies, Europe faces a pivotal moment in redefining its global role. The shifting security landscape and uncertainty surrounding Washington’s long-term commitments have compelled European nations to invest more in defence, military capabilities, technology and infrastructure to strengthen their influence.

European officials stressed that while the continent remains resilient, greater efforts are needed to bolster security and defence, reinforcing that Ukraine’s stability is central to European security.

“There will be no compromises on Ukraine’s territory and sovereignty. There will be no revisions to our military capabilities. No third country has the right to block our participation in any union or bloc. We will never recognise any territories occupied by Russia,” said Ukrainian Foreign Minister Andrii Sybiha.

Meanwhile, the view from Washington is one of commitment to a pragmatic and realistic foreign policy, said US Director of National Intelligence Tulsi Gabbard, emphasising the need for stable alliances. Yet there was a sense that US unilateralism has fuelled frustration among allies.

As these discussions unfolded, Russian President Vladimir Putin agreed to temporarily halt attacks on Ukrainian energy centres but refused to support a full 30-day ceasefire, which US President Donald Trump had hoped would be the first step towards a lasting peace deal. Ukraine accused Russia of effectively rejecting the ceasefire proposal, and both countries blamed each other on Wednesday for launching air strikes that caused fires and damaged infrastructure.

From Europe to the Middle East, the conflicts shaping the new world order seem more interconnected than ever, a point illustrated during the Raisina Dialogue, held under the theme People, Peace and Planet.

A narrative emerged of a shifting balance of power. While Iran, an ally of Russia, remains a major regional actor, analysts suggested it had been significantly weakened following the October 7, 2023 attacks. Meanwhile, Israel is emerging as the dominant force, frequently altering the rules of engagement and crossing previously defined red lines.

One notable statement came from Anwar Gargash, diplomatic adviser to President Sheikh Mohamed, who emphasised that the UAE and other Arab states should prioritise finding common ground with Iran rather than focusing on disagreements.

While Mr Trump has reinstated his “maximum pressure” policy on Iran, India continues to maintain cordial relations with both Israel and Tehran, carefully balancing its interests.

“India has not been and continues to be a non-interventionist part,” said Manish Tewari, Indian member of parliament. “We would be more than happy to be catalysts, but we have historically not been mediators or facilitators.

“The world survives in hope, and we do hope that there is peace and stability in the Middle East. I think the important thing to remember is that except for the military-industrial complexes, there's nobody else who benefits from wars. They are the ones who make the money out of the killing machines,” added Mr Tewari.

Anwar Gargash at the Raisina Conference in New Delhi. Photo: Anwar Gargash / X
Anwar Gargash at the Raisina Conference in New Delhi. Photo: Anwar Gargash / X

With peace remaining an aspiration, traditional assumptions about diplomacy, deterrence and regional stability are being upended. The pathways towards peace now demand complex compromises and strategic recalibrations.

What became evident from the dialogue discussions is that the world order is no longer dictated by a single superpower or a singular ideology. Instead, power is diffused across several poles, forcing states to navigate a competitive international system. Whether this transition leads to stability or deepens geopolitical divides remains uncertain. One thing is clear – the age of unchallenged western dominance is over, and a new, multipolar world is taking shape.

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.”

Company profile

Name: Steppi

Founders: Joe Franklin and Milos Savic

Launched: February 2020

Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year

Employees: Five

Based: Jumeirah Lakes Towers, Dubai

Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings

Second round raised Dh720,000 from silent investors in June this year

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Expert advice

“Join in with a group like Cycle Safe Dubai or TrainYAS, where you’ll meet like-minded people and always have support on hand.”

Stewart Howison, co-founder of Cycle Safe Dubai and owner of Revolution Cycles

“When you sweat a lot, you lose a lot of salt and other electrolytes from your body. If your electrolytes drop enough, you will be at risk of cramping. To prevent salt deficiency, simply add an electrolyte mix to your water.”

Cornelia Gloor, head of RAK Hospital’s Rehabilitation and Physiotherapy Centre 

“Don’t make the mistake of thinking you can ride as fast or as far during the summer as you do in cooler weather. The heat will make you expend more energy to maintain a speed that might normally be comfortable, so pace yourself when riding during the hotter parts of the day.”

Chandrashekar Nandi, physiotherapist at Burjeel Hospital in Dubai
 

The specs

Engine: 1.4-litre 4-cylinder turbo

Power: 180hp at 5,500rpm

Torque: 250Nm at 3,00rpm

Transmission: 5-speed sequential auto

Price: From Dh139,995

On sale: now

How the bonus system works

The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.

The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.

There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).

All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.

BRIEF SCORES

England 353 and 313-8 dec
(B Stokes 112, A Cook 88; M Morkel 3-70, K Rabada 3-85)  
(J Bairstow 63, T Westley 59, J Root 50; K Maharaj 3-50)
South Africa 175 and 252
(T Bavuma 52; T Roland-Jones 5-57, J Anderson 3-25)
(D Elgar 136; M Ali 4-45, T Roland-Jones 3-72)

Result: England won by 239 runs
England lead four-match series 2-1

ESSENTIALS

The flights

Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes. 

The trip

From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.

Winners

Best Men's Player of the Year: Kylian Mbappe (PSG)

Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)

TikTok Fans’ Player of the Year: Robert Lewandowski

Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)

Best Women's Player of the Year: Alexia Putellas (Barcelona)

Best Men's Club of the Year: Chelsea

Best Women's Club of the Year: Barcelona

Best Defender of the Year: Leonardo Bonucci (Juventus/Italy)

Best Goalkeeper of the Year: Gianluigi Donnarumma (PSG/Italy)

Best Coach of the Year: Roberto Mancini (Italy)

Best National Team of the Year: Italy 

Best Agent of the Year: Federico Pastorello

Best Sporting Director of the Year: Txiki Begiristain (Manchester City)

Player Career Award: Ronaldinho

Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The 12

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

How does ToTok work?

The calling app is available to download on Google Play and Apple App Store

To successfully install ToTok, users are asked to enter their phone number and then create a nickname.

The app then gives users the option add their existing phone contacts, allowing them to immediately contact people also using the application by video or voice call or via message.

Users can also invite other contacts to download ToTok to allow them to make contact through the app.

 

Tips to stay safe during hot weather
  • Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
  • Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
  • Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
  • Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
  • Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
  • Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
  • Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20WallyGPT%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2014%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3ESaeid%20and%20Sami%20Hejazi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%3Cbr%3E%3Cstrong%3EInvestment%20raised%3A%20%3C%2Fstrong%3E%247.1%20million%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2020%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%20round%3C%2Fp%3E%0A
Where to buy

Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com

MATCH INFO

World Cup qualifier

Thailand 2 (Dangda 26', Panya 51')

UAE 1 (Mabkhout 45 2')

BlacKkKlansman

Director: Spike Lee

Starring: John David Washington; Adam Driver 

Five stars

Graduated from the American University of Sharjah

She is the eldest of three brothers and two sisters

Has helped solve 15 cases of electric shocks

Enjoys travelling, reading and horse riding

 

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.

PREMIER LEAGUE TABLE

1 Man City    26   20   3   3   63   17   63 

2 Liverpool   25   17   6   2   64   20    57 

3 Chelsea      25   14   8  3   49   18    50 

4 Man Utd    26   13   7  6   44   34    46 

----------------------------------------

5 West Ham   26   12   6   8   45   34    42 

----------------------------------------

6 Arsenal      23  13   3   7   36   26   42 

7 Wolves       24  12   4   8   23   18   40 

8 Tottenham  23  12   4   8   31   31   39  

Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
Story%20behind%20the%20UAE%20flag
%3Cp%3EThe%20UAE%20flag%20was%20first%20unveiled%20on%20December%202%2C%201971%2C%20the%20day%20the%20UAE%20was%20formed.%C2%A0%3C%2Fp%3E%0A%3Cp%3EIt%20was%20designed%20by%20Abdullah%20Mohammed%20Al%20Maainah%2C%2019%2C%20an%20Emirati%20from%20Abu%20Dhabi.%C2%A0%3C%2Fp%3E%0A%3Cp%3EMr%20Al%20Maainah%20said%20in%20an%20interview%20with%20%3Cem%3EThe%20National%3C%2Fem%3E%20in%202011%20he%20chose%20the%20colours%20for%20local%20reasons.%C2%A0%3C%2Fp%3E%0A%3Cp%3EThe%20black%20represents%20the%20oil%20riches%20that%20transformed%20the%20UAE%2C%20green%20stands%20for%20fertility%20and%20the%20red%20and%20white%20colours%20were%20drawn%20from%20those%20found%20in%20existing%20emirate%20flags.%3C%2Fp%3E%0A
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Belong%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Michael%20Askew%20and%20Matthew%20Gaziano%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Technology%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%3C%2Fstrong%3E%20%243.5%20million%20from%20crowd%20funding%20and%20angel%20investors%3Cstrong%3E%3Cbr%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2012%3C%2Fp%3E%0A
The more serious side of specialty coffee

While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.

The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.

Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”

One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.

Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms. 

MWTC info

Tickets to the MWTC range from Dh100 and can be purchased from www.ticketmaster.ae or by calling 800 86 823 from within the UAE or 971 4 366 2289 from outside the country and all Virgin Megastores. Fans looking to attend all three days of the MWTC can avail of a special 20 percent discount on ticket prices.

Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
Women%E2%80%99s%20T20%20World%20Cup%20Qualifier
%3Cp%3E%3Cstrong%3EUAE%20results%3C%2Fstrong%3E%0D%3Cbr%3EIreland%20beat%20UAE%20by%20six%20wickets%0D%3Cbr%3EZimbabwe%20beat%20UAE%20by%20eight%20wickets%0D%3Cbr%3EUAE%20beat%20Netherlands%20by%2010%20wickets%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFixtures%3C%2Fstrong%3E%0D%3Cbr%3EUAE%20v%20Vanuatu%2C%20Thursday%2C%203pm%2C%20Zayed%20Cricket%20Stadium%0D%3Cbr%3EIreland%20v%20Netherlands%2C%207.30pm%2C%20Zayed%20Cricket%20Stadium%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EGroup%20B%20table%3C%2Fstrong%3E%0D%3Cbr%3E1)%20Ireland%203%203%200%206%20%2B2.407%0D%3Cbr%3E2.%20Netherlands%203%202%201%204%20%2B1.117%0D%3Cbr%3E3)%20UAE%203%201%202%202%200.000%0D%3Cbr%3E4)%20Zimbabwe%204%201%203%202%20-0.844%0D%3Cbr%3E5)%20Vanuatu%203%201%202%202%20-2.180%3C%2Fp%3E%0A
England Test squad

Ben Stokes (captain), Joe Root, James Anderson, Jonny Bairstow, Stuart Broad, Harry Brook, Zak Crawley, Ben Foakes, Jack Leach, Alex Lees, Craig Overton, Ollie Pope, Matthew Potts

 
Updated: March 20, 2025, 2:23 PM