President Sheikh Mohamed on Tuesday received a phone call from Masoud Pezeshkian, President of Iran.
During the call, he welcomed the announcement of a ceasefire agreement between Iran and Israel, expressing hope it would serve as a foundation for enhancing stability, security and peace across the Middle East, state news agency Wam reported.
He also reaffirmed the UAE’s stance in supporting initiatives that advance peace and regional security. Mr Pezeshkian thanked Sheikh Mohamed for the UAE’s position and solidarity.
It follows a tumultuous 24 hours for the Gulf, after a thwarted Iranian attack on a major US military base in Qatar on Monday evening.
The attack on Al Udeid Airbase, which came in retaliation for the US bombing of Iranian nuclear sites at the weekend, led to the closure of airspace above Qatar, Bahrain and Iraq, forcing some flights to be diverted.
A Qatari military official said two waves comprising 19 missiles had been launched at the base. All but one were shot down and there were no casualties.
US President Donald Trump later said Iran and Israel have agreed to a 12-hour ceasefire, but Tehran initially pushed back on this claim.
The ceasefire is expected to be enacted at about midnight Washington time, “at which point the war will be considered ended”, Mr Trump said on his Truth Social platform.
“Officially, Iran will start the ceasefire and, upon the 12th hour, Israel will start the ceasefire and, upon the 24th hour, an official end to the 12-day war will be saluted by the world,” he said.
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Director: Trevor Nunn
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Rating: 3/5 stars
How to become a Boglehead
Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.
• Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.
• Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.
• Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.
• Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.
• Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.
• Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.
• Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.
• Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.
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Killing of Qassem Suleimani
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The biog
Born: near Sialkot, Pakistan, 1981
Profession: Driver
Family: wife, son (11), daughter (8)
Favourite drink: chai karak
Favourite place in Dubai: The neighbourhood of Khawaneej. “When I see the old houses over there, near the date palms, I can be reminded of my old times. If I don’t go down I cannot recall my old times.”
UAE currency: the story behind the money in your pockets
Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."
