President Sheikh Mohamed met a number of Emirati students studying at Chinese universities and institutions.
During the meeting on Thursday evening, he asked about the students’ well-being and academic progress, state news agency Wam reported.
He urged them to persevere and study hard, emphasising that the UAE’s youths were vital for the country’s growth and aspirations.
Sheikh Mohamed also said their success in China would help strengthen relations between the two nations.
The students expressed their delight at meeting the President, thanking him for his support and encouragement.
On Friday, Sheikh Mohamed visited the Monument to the People's Heroes in Beijing, where he laid a wreath and expressed his admiration for the Chinese people.
The monument was built in honour of the Chinese people who gave their lives in defence of their country throughout history.
He then met with Chinese Premier Li Qiang to explore ways to strengthen ties in various fields such as investment, energy, industry, culture and education.
Mr Li noted the positive impact of Sheikh Mohamed’s visit on relations between the two countries.
During the meeting, the two leaders emphasised the significance of the various agreements signed on the trip.
Sheikh Mohamed left China shortly after 9.30am, state news agency Wam reported.
President Sheikh Mohamed holds talks with China's Xi Jinping - watch
On the first day of his state visit, Sheikh Mohamed met Chinese President Xi Jinping in Beijing to discuss relations and opportunities to expand the comprehensive strategic partnership agreed between the two nations.
Sheikh Mohamed and Mr Xi said they were committed to strengthening ties and exchanged views on regional and international issues. Sheikh Mohamed also called for a ceasefire in the war in Gaza.
Mr Xi later hosted a banquet in Sheikh Mohamed’s honour, attended by the UAE delegation along with several Chinese ministers and senior officials.
On Thursday, Sheikh Mohamed said the UAE was committed to working with its neighbours to support and enhance Arab-Chinese co-operation.
He was speaking at the opening session of the 10th Ministerial Meeting of the China-Arab States Co-operation Forum.
Sheikh Mohamed was welcomed by a Chinese guard of honour at Beijing International Airport on Wednesday evening, after a two-day visit to South Korea.
He was met by a delegation including Yin Hejun, China's Minister of Science and Technology, and Zhang Yiming, China's ambassador to the UAE.
Sheikh Mohamed led a high-level delegation to China, which included Sheikh Hazza bin Zayed, Deputy Ruler of Abu Dhabi; Sheikh Abdullah bin Zayed, Minister of Foreign Affairs; Sheikh Hamed bin Zayed, managing director of the Abu Dhabi Investment Authority; Sheikh Hamdan bin Mohamed; Suhail Al Mazrouei, Minister of Energy and Infrastructure; Dr Sultan Al Jaber, Minister of Industry and Advanced Technology; Mohamed Alsuwaidi, Minister of Investment; Dr Thani Al Zeyoudi, Minister of State for Foreign Trade; and Sheikh Mohammed bin Hamad, adviser for special affairs at the Presidential Court.
TOURNAMENT INFO
Women’s World Twenty20 Qualifier
Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November
UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi
Killing of Qassem Suleimani
MATCH INFO
Juventus 1 (Dybala 45')
Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')
Red card: Rodrigo Bentancur (Juventus)
The specs
Engine: 3.5-litre V6
Power: 272hp at 6,400rpm
Torque: 331Nm from 5,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.7L/100km
On sale: now
Price: Dh149,000
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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.”
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Score
Third Test, Day 2
New Zealand 274
Pakistan 139-3 (61 ov)
Pakistan trail by 135 runs with 7 wickets remaining in the innings
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
APPLE IPAD MINI (A17 PRO)
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In the box: iPad mini, USB-C cable, 20W USB-C power adapter
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6.30pm Mazrat Al Ruwayah – Group 2 (PA) $36,000 (Dirt) 1,600m
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UAE currency: the story behind the money in your pockets
Company profile
Company: Verity
Date started: May 2021
Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif
Based: Dubai
Sector: FinTech
Size: four team members
Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000
Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors
COMPANY%20PROFILE
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Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
