UAE remains committed to diplomacy against mounting global crises, Lana Nusseibeh says


Adla Massoud
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The UAE said on Saturday that it remains committed to diplomacy and peaceful solutions against mounting global crises, while warning against expansionist ambitions in the Palestinian-Israeli conflict.

“Today, we once again face a pivotal moment. The world is marked by turmoil, conflict and humanitarian crises. Threats to state sovereignty, proliferation risks and extremist ideologies persist, undermining the foundations of stability and development,” Lana Nusseibeh, UAE Minister of State, told the UN General Assembly.

She said her country’s “aim is not simply to manage conflicts, but to resolve them sustainably” through dialogue and compromise.

Israel and Palestine

“What we are witnessing today in the Palestinian-Israeli conflict is not only a result of, but serves, extremists and warmongers who seek to undermine the path to a peaceful resolution,” Ms Nusseibeh said.

“Nothing can justify targeting tens of thousands of civilians, besieging them, starving them or forcibly displacing them. Nor can anything excuse unacceptable expansionist ambitions, including the threat of annexing the West Bank.”

Before the General Debate began at this year's General Assembly, France and Saudi Arabia co-hosted a conference aimed at advancing a two-state solution to the Palestinian-Israeli conflict, during which several western countries recognised Palestine. Throughout the General Debate, countries have called on Israel to end its military action in Gaza and halt plans to annex the West Bank.

Sudan

On Sudan, Ms Nusseibeh said the UAE stood with the Sudanese people in their efforts to end the civil war and its profound humanitarian consequences.

“We underscore the importance of the statement by the Quad on Sudan and the call for a humanitarian truce,” she told the assembly. “We stress the importance of reaching an immediate ceasefire and ensuring unhindered access for humanitarian aid throughout the country.”

She added that sustainable peace could not be achieved through military means.

“A transitional process must be pursued in Sudan, leading to an independent civilian government – one that is not controlled by any of the warring parties, and which denies space to extremism and terrorism,” she said.

Sudan has been mired in civil war since April 2023, with the central government locked in a power struggle with the paramilitary Rapid Support Forces. The conflict has killed tens of thousands of people and displaced millions.

Foreign investment and international co-operation

Ms Nusseibeh noted that the UAE had “doubled” its foreign investments across various projects and expanded partnerships aimed at delivering prosperity, particularly with the Global South.

“In Africa, where our investments have extended across various sectors, reflecting our belief in the importance of openness and engagement to achieve shared development, prosperity” she said.

Ms Nusseibeh said her country was focused on advancing co-operation in science, technology and artificial intelligence, which she described as tools to drive sustainable development worldwide.

“We support countries to build their technological capacities while respecting their national values and priorities and ensuring the responsible and ethical use of these technologies in accordance with international law,” she told member states.

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UAE currency: the story behind the money in your pockets

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.”

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Updated: September 28, 2025, 4:26 AM