UAE citizens must register in the Foreign Ministry's Tawajudi service before travelling to Lebanon. AFP
UAE citizens must register in the Foreign Ministry's Tawajudi service before travelling to Lebanon. AFP
UAE citizens must register in the Foreign Ministry's Tawajudi service before travelling to Lebanon. AFP
UAE citizens must register in the Foreign Ministry's Tawajudi service before travelling to Lebanon. AFP

UAE to lift Lebanon travel ban from May 7


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A ban on UAE citizens travelling to Lebanon will be lifted from May 7, the Ministry of Foreign Affairs said on Sunday.

It follows Lebanese President Joseph Aoun’s visit to Abu Dhabi, where he met President Sheikh Mohamed.

UAE citizens must register in the Foreign Ministry's Tawajudi service before travelling, whether directly through UAE airports or from any other country. Those wishing to travel are prohibited from leaving the country before registration is completed.

Citizens must specify their place of residence in Lebanon, update information if it changes, and specify emergency contact numbers and reasons for visit.

Positive step

Mr Aoun thanked the UAE for lifting the travel ban in a phone call with Sheikh Mohamed, state news agency Wam reported on Sunday.

He said the move epitomised the UAE's enduring support for the Lebanese people and expressed his hope for closer co-operation to advance the interests of both nations.

Mr Aoun's government is seeking to boost relations with the Gulf after years of internal political turmoil in Lebanon. Most of the Gulf states have effectively prohibited their citizens from travel since 2023, and there had been on-and-off bans before that.

The UAE is home to 90,000 Lebanese citizens – the number is closer to 200,000 if dual citizens are counted.

Lebanese have faced strict checks when applying for visit and work visas in the Emirates in recent years, and Mr Aoun said he hopes to find a way to ease the situation.

Flights to Beirut with national carriers Emirates and Etihad, from Dubai and Abu Dhabi respectively, are available for between Dh1,200 and Dh1,500 ($326 to $408).

Responding to the lifting of the ban, Lebanese Prime Minister Dr Nawaf Salam said it is evidence of the depth of the relationship between the UAE and Lebanon. He also thanked Sheikh Mohamed.

"Lebanon and the Lebanese are eagerly awaiting the arrival of their Emirati brothers, as are all our brothers in the Gulf and all other Arab countries in Lebanon,” Mr Salam said.

War and the virus
The Details

Kabir Singh

Produced by: Cinestaan Studios, T-Series

Directed by: Sandeep Reddy Vanga

Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa

Rating: 2.5/5 

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.”

The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

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Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
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  • Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
  • Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
 
 
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Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

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Updated: May 05, 2025, 6:49 AM