The death of Sheikh Tahnoon bin Mohammed Al Nahyan marks the end of a lifetime of loyal service to his country that began with his close relationship with UAE Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan.
As well as brother-in-law through the marriage of his sister Sheikha Hessa, Sheikh Tahnoon was a close adviser to Sheikh Zayed when he was Ruler of Abu Dhabi and then President of the UAE from December 1971.
Until his death, announced yesterday at the age of 82, Sheikh Tahnoon was the Ruler’s Representative in the Eastern Region at Al Ain, a position held by Sheikh Zayed until 1966.
He was part of the inner circle advising Sheikh Zayed in the period leading to the formation of the Federation and for many years after, continuing as Ruler’s Representative in Al Ain through to the current President of the UAE, Sheikh Mohamed.
The Presidential Court issued a statement saying Sheikh Mohamed was mourning the death of Sheikh Tahnoon, his uncle.
Sheikh Tahnoon was born in Al Ain in 1942 and soon gained valuable experience from his close association with Sheikh Zayed.
That trust was reciprocated, with Sheikh Zayed placing his absolute faith in his brother-in-law.
His first appointment came within weeks of Sheikh Zayed’s accession as Ruler of Abu Dhabi, when Sheikh Tahnoon was made Chairman of the Department of Agriculture and Chairman of Al Ain Municipality.
In the months leading up to the formation of the UAE, Sheikh Tahnoon was made Minister of Municipalities and Agriculture on July 1, 1971.
A month later, he was appointed Ruler's Representative in the Eastern Region of the Emirate of Abu Dhabi, a position he was to hold for the next 53 years.
A year later, by Presidential decree, Sheikh Tahnoon was made a member of the board of directors for the Abu Dhabi Fund for Development and the Arab Economy, now known as the Abu Dhabi Fund for Development, and in 1973 was appointed chairman of the Abu Dhabi National Oil Company (Adnoc).
When the Abu Dhabi Investment Authority formed its board of directors, Sheikh Tahnoon was appointed as a member. His membership was renewed in 1980.
More senior appointments followed. In 1977, he became deputy chairman of the Executive Council of the Emirate of Abu Dhabi and chairman of the Department of Agriculture and Municipalities in Al Ain.
Sheikh Tahnoon was later made a member of the Supreme Petroleum Council by Sheikh Zayed in 1988.
The Emirates News Agency, Wam, noted in its appreciation of the life of Sheikh Tahnoon that he “was known for his close ties and direct communication with the people of Al Ain".
“Most of his official positions and his distinguished record of service to the state and its citizens were focused on his work in the city, making him close to the concerns of its citizens and directly involved in their joys and occasions," Wam reported.
In 2018, the E66 motorway between Al Ain and Dubai was named in his honour.
Sheikh Tahnoon remained actively involved in government affairs until his death, often seen at the side of Sheikh Mohamed as he had been with Sheikh Zayed, and with Sheikh Khaled bin Mohamed, the current Crown Prince of Abu Dhabi.
Sheikh Tahnoon leaves 10 sons.
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
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Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
Did you know?
Brunch has been around, is some form or another, for more than a century. The word was first mentioned in print in an 1895 edition of Hunter’s Weekly, after making the rounds among university students in Britain. The article, entitled Brunch: A Plea, argued the case for a later, more sociable weekend meal. “By eliminating the need to get up early on Sunday, brunch would make life brighter for Saturday night carousers. It would promote human happiness in other ways as well,” the piece read. “It is talk-compelling. It puts you in a good temper, it makes you satisfied with yourself and your fellow beings, it sweeps away the worries and cobwebs of the week.” More than 100 years later, author Guy Beringer’s words still ring true, especially in the UAE, where brunches are often used to mark special, sociable occasions.
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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.
Profile
Name: Carzaty
Founders: Marwan Chaar and Hassan Jaffar
Launched: 2017
Employees: 22
Based: Dubai and Muscat
Sector: Automobile retail
Funding to date: $5.5 million
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More coverage from the Future Forum
COMPANY PROFILE
Company name: Blah
Started: 2018
Founder: Aliyah Al Abbar and Hend Al Marri
Based: Dubai
Industry: Technology and talent management
Initial investment: Dh20,000
Investors: Self-funded
Total customers: 40
The biog
Family: He is the youngest of five brothers, of whom two are dentists.
Celebrities he worked on: Fabio Canavaro, Lojain Omran, RedOne, Saber Al Rabai.
Where he works: Liberty Dental Clinic
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Barbie
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India team for Sri Lanka series
Test squad: Rohit Sharma (captain), Priyank Panchal, Mayank Agarwal, Virat Kohli, Shreyas Iyer, Hanuma Vihari, Shubhman Gill, Rishabh Pant (wk), KS Bharath (wk), Ravindra Jadeja, Jayant Yadav, Ravichandran Ashwin, Kuldeep Yadav, Sourabh Kumar, Mohammed Siraj, Umesh Yadav, Mohammed Shami, Jasprit Bumrah.
T20 squad: Rohit Sharma (captain), Ruturaj Gaikwad, Shreyas Iyer, Surya Kumar Yadav, Sanju Samson, Ishan Kishan (wk), Venkatesh Iyer, Deepak Chahar, Deepak Hooda, Ravindra Jadeja, Yuzvendra Chahal, Ravi Bishnoi, Kuldeep Yadav, Mohammed Siraj, Bhuvneshwar Kumar, Harshal Patel, Jasprit Bumrah, Avesh Khan
Reputation
Taylor Swift
(Big Machine Records)
Killing of Qassem Suleimani
Killing of Qassem Suleimani
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.”
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
