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.
UAE currency: the story behind the money in your pockets
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The specs
BMW M8 Competition Coupe
Engine 4.4-litre twin-turbo V8
Power 625hp at 6,000rpm
Torque 750Nm from 1,800-5,800rpm
Gearbox Eight-speed paddleshift auto
Acceleration 0-100kph in 3.2 sec
Top speed 305kph
Fuel economy, combined 10.6L / 100km
Price from Dh700,000 (estimate)
On sale Jan/Feb 2020
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
Series information
Pakistan v Dubai
First Test, Dubai International Stadium
Sun Oct 6 to Thu Oct 11
Second Test, Zayed Stadium, Abu Dhabi
Tue Oct 16 to Sat Oct 20
Play starts at 10am each day
Teams
Pakistan
1 Mohammed Hafeez, 2 Imam-ul-Haq, 3 Azhar Ali, 4 Asad Shafiq, 5 Haris Sohail, 6 Babar Azam, 7 Sarfraz Ahmed, 8 Bilal Asif, 9 Yasir Shah, 10, Mohammed Abbas, 11 Wahab Riaz or Mir Hamza
Australia
1 Usman Khawaja, 2 Aaron Finch, 3 Shaun Marsh, 4 Mitchell Marsh, 5 Travis Head, 6 Marnus Labuschagne, 7 Tim Paine, 8 Mitchell Starc, 9 Peter Siddle, 10 Nathan Lyon, 11 Jon Holland
Film: Raid
Dir: Rajkumar Gupta
Starring: Ajay Devgn, Ileana D'cruz and Saurabh Shukla
Verdict: Three stars
Awar Qalb
Director: Jamal Salem
Starring: Abdulla Zaid, Joma Ali, Neven Madi and Khadija Sleiman
Two stars
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
THE SPECS
Engine: 1.5-litre turbocharged four-cylinder
Transmission: Constant Variable (CVT)
Power: 141bhp
Torque: 250Nm
Price: Dh64,500
On sale: Now
What should do investors do now?
What does the S&P 500's new all-time high mean for the average investor?
Should I be euphoric?
No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.
So what happened?
It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.
"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."
Should I buy? Should I sell?
Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.
"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.
All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.
Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.
Will the rally last?
No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.
"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."
UAE currency: the story behind the money in your pockets
