Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser, with US President Donald Trump at the White House. Photo: Donald Trump / Truth Social
Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser, with US President Donald Trump at the White House. Photo: Donald Trump / Truth Social
Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser, with US President Donald Trump at the White House. Photo: Donald Trump / Truth Social
Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser, with US President Donald Trump at the White House. Photo: Donald Trump / Truth Social

Trump hails UAE ties in White House talks with Sheikh Tahnoon


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US President Donald Trump hailed the UAE as a crucial partner in securing peace in the Middle East, as he spoke at the White House with Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser.

Mr Trump said the key discussions – held as part of Sheikh Tahnoon's official visit – centred on efforts to strengthen co-operation on the economy and technology and served to highlight the “long-standing ties and bonds of friendship” between the nations.

Mr Trump, in a post on his Truth Social platform shared on X, said he had hosted Sheikh Tahnoon for meetings and a dinner on Tuesday evening also attended by prominent US officials.

“The evening demonstrated the long-standing ties and bonds of friendship between our countries. UAE and the US,” Mr Trump wrote.

“UAE and the US have long been partners in the work to bring peace and security to the Middle East and the world.

“Discussions also included ways for our countries to increase our partnership for the advancing of our economic and technological future.”

Sheikh Tahnoon said talks with Mr Trump focused on the future of the long-term strategic partnership in place between the allies and “reinforcing our shared vision for prosperity and progress”.

“The UAE remains committed to strengthening its economic ties with the US by accelerating investments in artificial intelligence, advanced technology, infrastructure, energy and health care – key pillars for sustainable growth and development,” Sheikh Tahnoon wrote on X.

“The approach of the leadership of both countries and their economic policies represents a significant impetus for encouraging foreign direct investment and strengthening the existing economic partnership between the two nations.”

Boosting ties

On Monday, Sheikh Tahnoon met Trump administration officials and business leaders at the White House for discussions on artificial intelligence, economic co-operation and investment partnerships.

During the visit, Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, and Yousef Al Otaiba, Minister of State and the UAE's ambassador to the US, met US Vice President JD Vance.

They met Mr Vance “to discuss deepening UAE-US collaboration on supporting energy investment and abundance, technological leadership, and unleashing unprecedented economic growth”, the UAE embassy in the US said in a post on X.

Sheikh Tahnoon also met US Treasury Secretary Scott Bessent on Tuesday for talks aimed at bolstering partnerships in the economy, finance and advanced technology.

On the same day, the Abu Dhabi government announced the signing of an agreement with Microsoft and Core42 to enhance the efficiency of government services in the digital sphere during the official visit.

The agreement between the Department of Government Empowerment, Microsoft and Core42 was signed in the presence of Sheikh Tahnoon and Khaldoon Al Mubarak, Chairman of the Executive Affairs Authority and member of the Council for Artificial Intelligence and Advanced Technology.

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.”

Abu Dhabi GP starting grid

1 Lewis Hamilton (Mercedes)

2 Valtteri Bottas (Mercedes)

3 Sebastian Vettel (Ferrari)

4 Kimi Raikkonen (Ferrari)

5 Daniel Ricciardo (Red Bull)

6 Max Verstappen (Red Bull)

7 Romain Grosjean (Haas)

8 Charles Leclerc (Sauber)

9 Esteban Ocon (Force India)

10 Nico Hulkenberg (Renault)

11 Carlos Sainz (Renault)

12 Marcus Ericsson (Sauber)

13 Kevin Magnussen (Haas)

14 Sergio Perez (Force India)

15 Fernando Alonso (McLaren)

16 Brendon Hartley (Toro Rosso)

17 Pierre Gasly (Toro Rosso)

18 Stoffe Vandoorne (McLaren)

19 Sergey Sirotkin (Williams)

20 Lance Stroll (Williams)

Results

Stage 4

1. Dylan Groenewegen (NED) Jumbo-Visma 04:16:13

2. Gaviria (COL) UAE Team Emirates

3. Pascal Ackermann (GER) Bora-Hansgrohe

4. Sam Bennett (IRL) Deceuninck-QuickStep

5. Caleb Ewan (AUS) Lotto Soudal

General Classification:

1. Adam Yates (GBR) Mitchelton-Scott        16:46:15

2. Tadej Pogacar (SLO) UAE Team Emirates         0:01:07

3. Alexey Lutsenko (KAZ) Astana Pro Team          0:01:35

4. David Gaudu (FRA) Groupama-FDJ         0:01:40

5. Rafal Majka (POL) Bora-Hansgrohe

The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

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My Cat Yugoslavia by Pajtim Statovci
Pushkin Press

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Fifa Club World Cup quarter-final

Esperance de Tunis 0
Al Ain 3
(Ahmed 02’, El Shahat 17’, Al Ahbabi 60’)

Marathon results

Men:

 1. Titus Ekiru(KEN) 2:06:13 

2. Alphonce Simbu(TAN) 2:07:50 

3. Reuben Kipyego(KEN) 2:08:25 

4. Abel Kirui(KEN) 2:08:46 

5. Felix Kemutai(KEN) 2:10:48  

Women:

1. Judith Korir(KEN) 2:22:30 

2. Eunice Chumba(BHR) 2:26:01 

3. Immaculate Chemutai(UGA) 2:28:30 

4. Abebech Bekele(ETH) 2:29:43 

5. Aleksandra Morozova(RUS) 2:33:01  

Updated: March 19, 2025, 6:20 PM