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As the 79th session of the UN General Assembly's high-level debate begins on Tuesday, key global challenges such as the wars in Gaza, Ukraine and Sudan as well as climate change are likely to dominate the agenda - and the UAE sees solving these crises as a priority.
Speaking exclusively to The National on the eve of the high-level debates, Mohamed Abushahab, the UAE’s permanent representative to the UN, stressed the importance of finding solutions to these crises as well as delivering humanitarian aid to those suffering in conflict zones.
"One of the UAE's priorities is many of the geopolitical crises that will remain at the forefront of international discussions," said Mr Abushahab.
"Whether we're talking about Ukraine, Gaza or Sudan, efforts should be guided by the UN charter and its principles," he emphasised the UAE's will steadfastly advocate for e-escalation, dialogue and peaceful resolution of conflicts.
"The UAE remains a pragmatic and principled voice at the UN, and this continues to be our approach across our foreign policy," he said, adding that during the UAE's council term, but also outside of the council term, "we've shown that by being principled so people know exactly where we stand, but also being pragmatic in order to be able to play a positive and constructive and bridge building role."
The UAE envoy also stressed the humanitarian dimension of his country's priorities, noting its status as one of the largest contributors to global aid. The challenge, he said, lies in securing humanitarian access in conflict zones.
"We must leverage UN mechanisms to ensure that international humanitarian law is upheld and aid reaches those in need," Mr Abushahab added.
On the Gaza crisis, the ambassador described the situation as "unbearable" and renewed the UAE's call for a ceasefire, the release of hostages and detainees and the resumption of a political process towards a two-state solution.
He expressed support for full UN General Assembly membership for Palestine, advocating its recognition "like any other nation".
But in the meantime, he said, progress is being made towards the goal and objective within the realm of what is possible.
Mr Abushahab said that Sudan is considered to be "very much a part of our region, and what happens there, of course, has the potential to impact its neighbours and the Horn of Africa and beyond".
He reaffirmed the UAE's continued position on the need for an immediate and permanent ceasefire, unhindered, safe, rapid, and sustained passage of humanitarian assistance in and across Sudan, and engagement in peace talks in good faith to transition to civilian-led governance.
Beyond political crises, sustainable development also remains a key focus for the UAE at UNGA.
"Coming off the work that we did on the UN Security Council and the unprecedented success of Cop28 [in Dubai], we will follow through on climate agreements and strenghten climate action and issues around water," Mr Abushahab said.
"We have every intention to continue to do that, also for the 2026 water conference."
The water conference, which aims to accelerate the implementation of sustainable development goals focused on clean water and sanitation, is set to be held in the UAE in December 2026.
The conference is expected to play a crucial role in accelerating global action on water issues as the world faces increasing pressure from climate change, population growth and resource scarcity. According to the UN, a quarter of the world's population have no access to safe drinking water while half lack basic sanitation.
The World Meteorological Organisation reports that 3.6 billion people currently face water shortages at least one month each year. The organisation warns that this number could rise to five billion – more than half the world's population – by 2050.
Emerging technologies and in particular artificial intelligence is another priority, Mr Abushahab said, highlighting the opportunities and risks AI poses across sectors, from sustainable development and energy development and security.
AI, he said, can be a "game changer in many sectors". "By co-operating, including here at the UN, and looking at what kind of guardrails and what kind of global ground rules we can have, we can mitigate the potential risks, and there are plenty of opportunities," he added.
The ambassador reaffirmed the UAE’s focus on empowering women and girls, as well as promoting tolerance and peace. He pointed to the UAE's landmark UN Security Council Resolution 2686, which addresses the links between hate speech, extremism, intolerance and conflict.
In June 2023, the UN Security Council unanimously adopted a resolution acknowledging the role of hate speech, racism and other forms of intolerance in fuelling conflicts. Jointly drafted by the UAE and UK, the resolution highlighted the adverse effects of gender discrimination and acts of extremism on global peace and stability.
"The Security Council recognised the link between hate speech, extremism, intolerance and racism and its role in contributing to either the outbreak or the intensification and recurrence to conflict. This is really about strengthening the UN's preventive abilities in order to build some resilience in societies against hate speech and extremism and intolerance," he said.
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RedCrow Intelligence Company Profile
Started: 2016
Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel
Based: Ramallah, Palestine
Sector: Technology, Security
# of staff: 13
Investment: $745,000
Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors
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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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
