The National
The National
The National
The National


No rest for Sheikh Abdullah in a whirlwind year


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December 19, 2009

Although the UAE has registered several achievements over the past 12 months such as the hosting of the Formula One race and the opening of the Dubai Metro, it is possible that what has happened outside of our borders has had a greater impact. And one individual is responsible for what will be seen in the future as the most important year in the UAE’s foreign relations to date.

Sheikh Abdullah bin Zayed, the UAE’s young foreign minister, started the year with visits to Syria to meet President Bashar Al Assad, to Kuwait for the Arab Economic Summit and to Egypt to meet that country’s president, Hosni Mubarak. Then he was on to the US to sign the US-UAE nuclear agreement, to Bonn to speak at the founding summit of the International Renewable Energy Agency (Irena) and to Berlin where the UAE offered to jointly fund an Afghan airport.

In February, Sheikh Abdullah visited Qatar, Jordan, Oman, Saudi Arabia and Bahrain on a regional tour. He also hosted the foreign ministers of the above states as well as those from Tunisia, Morocco, Egypt, Yemen and Palestine to discuss issues relating to the Palestinian territories. He then headed a delegation that included UAE businessmen to Minsk, Belarus. In March, Sheikh Abdullah headed the UAE delegation to the Arab-South America Summit in Doha after accompanying the President Sheikh Khalifa to the Arab summit in the same location. He also visited Afghanistan, Saudi Arabia, Egypt, Yemen, Syria and Lebanon, where the UAE financed a major mine-clearing operation. He held bilateral talks in Egypt with the US secretary of state Hillary Rodham Clinton. And in the UAE, Sheikh Abdullah hosted the foreign ministers of Australia and Iran.

In April, Sheikh Abdullah embarked on an unprecedented African tour of Niger, Mali, Ivory Coast, Cape Verde, Gambia, Nigeria, Chad and Burkina Faso. He then visited Japan for the Pakistan donors’ conference where the UAE pledged $300 million to assist that country.In May, Sheikh Abdullah’s African tour continued with visits to the African Union in Addis Ababa, Ethiopia, Kenya, the Central African Republic, Morocco, Liberia, as well as Spain, Lithuania, Finland, Portugal and Lebanon. The foreign minister then appointed four senior aides with political, economic, legal and special affairs portfolios as part of his ministry’s restructuring aimed at “meeting the UAE’s growing foreign relations commitments and interests”. Also in May, Sheikh Abdullah reached an agreement with the French foreign minister Bernard Kouchner to allow Emirati diplomats to be stationed in French embassies in countries, such as many in Africa, where the UAE lacks a diplomatic mission.

In June, Sheikh Abdullah went on an extensive diplomatic and economic tour including South Korea, Brunei, Bangladesh, Nepal, India, Sri Lanka and the Maldives as well as visits to Hungary, the Netherlands, Slovenia, Bosnia and Herzegovina, Montenegro, Albania, Estonia, Macedonia, Georgia, Armenia, Turkey, Greece, Bulgaria, Cyprus, Croatia, Cameroon, Libya, and South Africa.June was a good month for Sheikh Abdullah and his team as their efforts to win international support for the UAE to host Irena succeeded when the UAE was awarded the honour in a meeting in Sharm El Sheikh, beating two major European contenders, Bonn and Vienna.

Despite that achievement Sheikh Abdullah didn’t rest. He continued travelling – to Pakistan and then to Azerbaijan in July. In August, Sheikh Abdullah accompanied Sheikh Mohammed Bin Zayed, Abu Dhabi’s Crown Prince, on a trip to China. In September, the UAE foreign minister met with his GCC counterparts as well as ministers from Russia and a host of other nations. Sheikh Abdullah addressed the UN General Assembly and highlighted the strategy behind the UAE’s foreign policy. He also joined Abu Dhabi’s Crown Prince to meet the US president Barack Obama in Washington.

In October, Sheikh Abdullah travelled to meet the president of Mexico, Philippe Calderón, and then to Cuba, Columbia, Ecuador, Panama, Nicaragua, Uruguay, Peru, Chile, Brazil, Argentina, and the Dominican Republic. Sheikh Abdullah then hosted the US secretary of state Hillary Clinton and the Palestinian president Mahmoud Abbas in Abu Dhabi for bilateral talks. In November, Sheikh Abdullah took part in the Forum for the Future meeting in Morocco and then accompanied Sheikh Mohammed Bin Rashid, the UAE’s prime minister, on a visit to Britain to meet Gordon Brown before visiting the UAE forces in Afghanistan. This December, Sheikh Abdullah flew to Bahrain for the Manama Dialogue conference and Kuwait for a summit of GCC heads of state as well as meeting the North Atlantic Treaty Organisation’s secretary general Anders Fogh Rasmussen.

Sheikh Abdullah also makes it a point to meet the various Arab ambassadors in the states he visits, which reflects the UAE’s balanced pan-Arab foreign policy. Sheikh Abdullah managed to do all this as well as attend the UAE cabinet meetings and host diplomatic guests to the country. Sheikh Abdullah has been supported by a team as diverse and professional as Dr Anwar Gargash, the Minister of State for Federal National Council Affairs, Reem Ibrahim al Hashimi, the UAE Minister of State, Dr Sultan Al-Jaber, the CEO of the Masdar Initiative and Khalid Al Ghaith, the Assistant Foreign Minister for Economic Affairs.

Without a doubt the most travelled foreign minister in this young nation’s history, he has set standards that are very tough to follow. Sheikh Abdullah’s youth may have played a part in his relentless efforts to see his country prosper and be represented in the best possible manner. It is clear his determination is what sets him apart and why I believe 2009 is the year of Sheikh Abdullah Bin Zayed.

10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

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Australia 312-1 

Warner 151 not out, Burns 97,  Labuschagne 55 not out

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Shafiq 76, Starc 4-52

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England 2 (Lingard 78', Kane 85')
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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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Fixture
Match 5, Saturday, 9.30am start, ICC Academy, Dubai

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In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

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Company name: Nestrom

Started: 2017

Co-founders: Yousef Wadi, Kanaan Manasrah and Shadi Shalabi

Based: Jordan

Sector: Technology

Initial investment: Close to $100,000

Investors: Propeller, 500 Startups, Wamda Capital, Agrimatico, Techstars and some angel investors

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Starring: Elizabeth Olsen, Paul Bettany

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Rating: Four stars

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Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

World Test Championship table

1 India 71 per cent

2 New Zealand 70 per cent

3 Australia 69.2 per cent

4 England 64.1 per cent

5 Pakistan 43.3 per cent

6 West Indies 33.3 per cent

7 South Africa 30 per cent

8 Sri Lanka 16.7 per cent

9 Bangladesh 0

The specs: 2018 Nissan 370Z Nismo

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Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
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​​​​​​​Fuel consumption, combined: 10.5L / 100km

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Angelo Mathews (c), Upul Tharanga, Danushka Gunathilaka, Kusal Mendis, Dinesh Chandimal, Kusal Janith Perera, Thisara Perera, Asela Gunaratne, Niroshan Dickwella, Suranga Lakmal, Nuwan Pradeep, Dushmantha Chameera, Shehan Madushanka, Akila Dananjaya, Lakshan Sandakan and Wanidu Hasaranga

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Updated: February 08, 2023, 2:34 PM