Mike Waltz has criticised the global body for what he called a bloated bureaucracy, anti-American bias, and a record of inefficiencies in conflict prevention. Reuters
Mike Waltz has criticised the global body for what he called a bloated bureaucracy, anti-American bias, and a record of inefficiencies in conflict prevention. Reuters
Mike Waltz has criticised the global body for what he called a bloated bureaucracy, anti-American bias, and a record of inefficiencies in conflict prevention. Reuters
Mike Waltz has criticised the global body for what he called a bloated bureaucracy, anti-American bias, and a record of inefficiencies in conflict prevention. Reuters

Mike Waltz confirmed as US ambassador to the UN


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Mike Waltz was confirmed on Friday as the new US ambassador to the UN Security Council by the Senate in a 47-43 vote.

A separate vote was not held to formally designate Mr Waltz as a representative at the UN General Assembly, due to objections from Democrats, AP reported, quoting a person familiar with the Senate deliberations.

It is unclear how or whether Mr Waltz will be able to participate at the annual gathering in New York next week, when world leaders will gather in New York to lay out their countries' priorities on world peace and development.

During his confirmation hearing before the Senate Foreign Relations Committee in July, Mr Waltz criticised the global body for what he called a bloated bureaucracy, anti-American bias, and a record of inefficiencies in conflict prevention. He vowed to “make the UN great again”.

Mr Waltz previously served as head of the National Security Council but he was removed from the position and nominated for UN envoy after he inadvertently added a journalist to a private government chat focused on US strikes on Yemen earlier this year.

The former Florida congressman was a colonel in the National Guard and is a long-time Trump loyalist who supported the President's claims that the 2020 election was rigged.

He is a China hawk and has been a vocal critic of the chaotic US withdrawal from Afghanistan. He was the first Green Beret to be elected to Congress, after several combat tours in Afghanistan, the Middle East and Africa, according to his biography.

This year, Palestine is expected to be a major topic at the UN General Assembly. A summit hosted by France and Saudi Arabia will focus on a two-state solution to the Palestinian-Israeli conflict. A number of countries are also expected to recognise Palestine during this year's UNGA.

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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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The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

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COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

War 2

Director: Ayan Mukerji

Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana

Rating: 2/5

The Bio

Favourite vegetable: “I really like the taste of the beetroot, the potatoes and the eggplant we are producing.”

Holiday destination: “I like Paris very much, it’s a city very close to my heart.”

Book: “Das Kapital, by Karl Marx. I am not a communist, but there are a lot of lessons for the capitalist system, if you let it get out of control, and humanity.”

Musician: “I like very much Fairuz, the Lebanese singer, and the other is Umm Kulthum. Fairuz is for listening to in the morning, Umm Kulthum for the night.”

UAE v Ireland

1st ODI, UAE win by 6 wickets

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Updated: September 19, 2025, 6:46 PM