As the Olympic Games began last Friday, the doors to the UAE’s Olympic House in Paris opened to the world for the first time. This moment marks a significant milestone for the country, celebrating our enduring commitment to the Olympic movement and its values of excellence, friendship and respect.
Paris is welcoming the world, and the UAE is offering its home. Visitors to the UAE’s Olympic House will have the opportunity to experience our nation’s rich culture and heritage, innovative spirit and renowned hospitality. The inauguration of the House illustrates our dedication to fostering unity, building bridges between nations and peoples, and nurturing meaningful dialogue.
The UAE House reflects our national sporting ambition and dedication to the Olympic spirit. The House offers an interactive journey featuring sections such as “The Majlis”, “Liwan”, “Al Maydan” and “Hiwy”, each providing unique immersive experiences using augmented reality gaming and digital interactions. “Erth”, the place of socialising, extends the experience by offering a cafe where visitors can discover the flavours of the UAE. This initiative exemplifies the importance of international co-operation and cultural exchange, and an invitation to nations to connect with us and learn about our culture.
The UAE House reflects our national sporting ambition and dedication to the Olympic spirit
The spirit of co-existence in the House reflects the vision for the country of the UAE Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, and the late Sheikh Khalifa. President Sheikh Mohamed continues to support this path by promoting the values of peace and co-existence. Much like the Olympic Village, where athletes congregate, the UAE is one of the world’s most diverse places, where more than 200 nationalities live in peace and prosperity. Inclusivity is the bedrock of our country’s story, and we are proud to celebrate that as we participate in the Olympics. Our relationship with all civilisations and cultures is part of our country’s DNA.
We also pay tribute to our hosts in France, with whom we have a deep and strong bilateral relationship and in whom we have full confidence to organise and manage a safe and successful Olympic Games that celebrate sports and unity. We commend their thorough procedures, meticulous preparation, robust protocols and collaborative approach. In fact, the UAE Ministry of Interior has sent a number of police officers to Paris, who are participating alongside French police to ensure the safety and security of the athletes and the Games.
Over the past 50 years, our two countries have built a valuable strategic partnership between our governments and deep ties between our people. These people-to-people ties are equally vital in deepening our relationship because diplomacy takes many forms, from cultural exchanges and trade to education and global events. These activities play a crucial role in promoting authentic mutual co-understanding and encouraging cultural and economic collaboration. As we reflect on the past and prepare for the next 50 years, we are committed to building together and aligning our efforts in key areas such as culture, economy, technology, industry and energy to secure a brighter future for all.
For us, the Olympics is not only about competing in sports but also about sharing our values and culture – values we share with many countries around the world. We first applied to be an Olympic nation in 1979 – less than a decade after our federation – and have proudly participated in every Games since 1984.
This year, we are sending a team of 14 outstanding athletes to Paris, who will represent the UAE on the global stage. Our team is not just composed of great sportspeople pursuing their Olympic dreams; they are ambassadors for our country.
Our team in Paris includes rising stars such as Omar Al Marzooqi and Safiya Al Sayegh – both in their early 20s – who represent the best of our next generation. Their stories have been inspired by those who came before them, and they represent the dynamic nature of our nation, driving us forward. In turn, they will inspire the next generation.
A nation is but the stories of its people, so having people like Olympians, scientists, artists or entrepreneurs, who go out into the world and share our story, is vitally important and is the foundation of public diplomacy.
As we cheer on our athletes in the coming weeks, we celebrate not only their achievements but also the spirit of unity that our nation and the Olympics represent. At a time when the world needs more understanding, dialogue and peaceful co-existence, the values embodied by the Olympics and our public diplomacy efforts are more crucial than ever.
THE SPECS
Cadillac XT6 2020 Premium Luxury
Engine: 3.6L V-6
Transmission: nine-speed automatic
Power: 310hp
Torque: 367Nm
Price: Dh280,000
MATCH INFO
Everton 0
Manchester City 2 (Laporte 45 2', Jesus 90 7')
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Company%20Profile
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Company Profile
Company name: Yeepeey
Started: Soft launch in November, 2020
Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani
Based: Dubai
Industry: E-grocery
Initial investment: $150,000
Future plan: Raise $1.5m and enter Saudi Arabia next year
MATCH INFO
Osasuna 1 Real Madrid 4
Osasuna: García (14')
Real Madrid: Isco (33'), Ramos (38'), Vázquez (84'), Jovic (90' 2)
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
DUBAI CARNIVAL RESULTS
6.30pm Handicap US$135,000 (Turf) 2,410m
Winner Dubai Future, Harry Bentley (jockey), Saeed bin Suroor (trainer).
7.05pm UAE 1000 Guineas Listed $250,000 (Dirt) 1,600m
Winner Dubai Love, Patrick Cosgrave, Saeed bin Suroor.
7.40pm Dubai Dash Listed $175,000 (T) 1,000m
Winner: Equilateral, James Doyle, Charles Hills.
8.15pm Al Bastakiya Trial Conditions $100,000 (D) 1.900m
Winner Laser Show, Kevin Stott, Saeed bin Suroor.
8.50pm Al Fahidi Fort Group Two $250,000 (T) 1,400m
Winner Glorious Journey, James Doyle, Charlie Appleby.
9.25pm Handicap $135,000 (D) 2,000m
Winner George Villiers, Tadhg O’Shea, Satish Seemar.
HAEMOGLOBIN DISORDERS EXPLAINED
Thalassaemia is part of a family of genetic conditions affecting the blood known as haemoglobin disorders.
Haemoglobin is a substance in the red blood cells that carries oxygen and a lack of it triggers anemia, leaving patients very weak, short of breath and pale.
The most severe type of the condition is typically inherited when both parents are carriers. Those patients often require regular blood transfusions - about 450 of the UAE's 2,000 thalassaemia patients - though frequent transfusions can lead to too much iron in the body and heart and liver problems.
The condition mainly affects people of Mediterranean, South Asian, South-East Asian and Middle Eastern origin. Saudi Arabia recorded 45,892 cases of carriers between 2004 and 2014.
A World Health Organisation study estimated that globally there are at least 950,000 'new carrier couples' every year and annually there are 1.33 million at-risk pregnancies.
PREMIER LEAGUE TABLE
1 Man City 26 20 3 3 63 17 63
2 Liverpool 25 17 6 2 64 20 57
3 Chelsea 25 14 8 3 49 18 50
4 Man Utd 26 13 7 6 44 34 46
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5 West Ham 26 12 6 8 45 34 42
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6 Arsenal 23 13 3 7 36 26 42
7 Wolves 24 12 4 8 23 18 40
8 Tottenham 23 12 4 8 31 31 39
The%20specs
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Company name: Farmin
Date started: March 2019
Founder: Dr Ali Al Hammadi
Based: Abu Dhabi
Sector: AgriTech
Initial investment: None to date
Partners/Incubators: UAE Space Agency/Krypto Labs
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
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.”
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
Itcan profile
Founders: Mansour Althani and Abdullah Althani
Based: Business Bay, with offices in Saudi Arabia, Egypt and India
Sector: Technology, digital marketing and e-commerce
Size: 70 employees
Revenue: On track to make Dh100 million in revenue this year since its 2015 launch
Funding: Self-funded to date