Humans are social beings. For this reason, connections lie at the heart of the human experience.
I have always been fascinated by the power of connections and their limitless potential to shape families, friendships, communities and nations. Connections fuel our personal lives, our livelihoods and our collective history. So much so that the UAE’s Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, wove this fundamental need for connection into the very fabric of the country: seven emirates uniting to form a nation. A nation that rises to global challenges, in connection with other nations – partners and allies – to face the future and shape a better world.
As we move further into the UAE’s 2025 Year of Community, under the slogan “Hand in Hand”, Sheikh Zayed’s vision of harmonious connections continues to shape Abu Dhabi as a global beacon of inclusivity and togetherness.
In the UAE, we believe in the transformative power of harmony because we have seen it work for the benefit of our country and the world, shaping the society we live in today: welcoming, forward-thinking, resilient, creative.
Culture plays a vital role in making this harmony possible, which is why Sheikh Zayed considered culture to be the soul of our nation. Having worked in the field of culture for the past 30 years, I see his vision at work every day: culture is where our identity resides, but it is also where our aspirations live. It is who we were, who we are, and who we aim to be. It embodies both the past and future. Essentially, culture is what binds us all together: as Emiratis, as Arabs, as humans, we connect through culture.
As all great stories, the story of Sheikh Zayed and of the UAE is one of undying relevance
Since the birth of our nation 53 years ago, its leadership has not only remained consistent in upholding the legacy of Sheikh Zayed but has expanded it. They make sure every day that the values of community, diversity and harmony are deeply embedded into everything that the UAE builds. The Saadiyat Cultural District is a case in point.
For all their awe-inspiring beauty, the museums are far more than architectural masterpieces: they are a reflection of something deeper that is happening not only in the Saadiyat Cultural District but in Abu Dhabi and the UAE. These museums, like our nation and its capital, are staging cultural dialogue. They are enabling connection.
These magnificent museums would be empty shells without Sheikh Zayed’s vision of connections and togetherness. The Louvre Abu Dhabi tells a universal story – humanity’s story no less – through its art, as it connects cultures and shows how civilisations echo each other.
The Abrahamic Family House fosters understanding among faiths with three places of worship sharing a physical – but also a cultural and symbolic – space as peaceful neighbours, each with their distinctiveness, but with a sense of cohesion and community.
Soon, the Zayed National Museum and Guggenheim Abu Dhabi, as well as the Natural History Museum and teamLab Phenomena, will keep on weaving these connections between cultures and between individuals.
Each and every time I visit the district, I see Sheikh Zayed’s vision laid out in front of me and I hear his call and the call of our country to keep on building bridges, connections through culture and beauty.
It is in this call that Abu Dhabi Festival finds its purpose: each edition of the festival is another brick laid in building our emirate’s lifework: to build togetherness and connection. Our annual celebration brings together local, regional and global talents, each of their voices taking part in a conversation that stimulates artists and audiences alike.
Art – and the Abu Dhabi Festival along with it – tells stories, records our triumphs, questions our world. These stories bridge past and future, and open minds and hearts amongst Emiratis and expatriates alike.
Now in its 22nd edition, the theme of this year’s Festival, “Abu Dhabi – A World of Harmony”, resonates deeply with the Year of Community and with all that Abu Dhabi stands for: a home, a haven, and an opportunity for more than 200 nationalities and cultures.
This year, we celebrate more than 50 years of friendship and bilateral relations between the UAE and the Festival’s Country of Honour, Japan – a nation that exemplifies the values of community through its extraordinary culture and deeply rooted traditions.
The truth is that community is not an ideal – it is a reality we all work to make possible every day, taking inspiration from the legacy of Sheikh Zayed, who first envisioned it and provided us with its roadmap.
As all great stories, the story of Sheikh Zayed and of the UAE is one of undying relevance. It is a story of community and unity, making us rise collectively to the height of our potential. As all great stories, it is more than just a story: it is a reminder of the past, and a roadmap towards our future and towards ourselves. As all great stories, each generation will reinterpret it, to pass it on.
Let’s continue telling this story “Hand in Hand”, to craft the brightest of futures: a future built upon shared purpose and togetherness.
What is the definition of an SME?
SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.
A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors.
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.”
Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Secret Nation: The Hidden Armenians of Turkey
Avedis Hadjian, (IB Tauris)
UAE currency: the story behind the money in your pockets
TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
Rating: 2.5/5
HAJJAN
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MATCH INFO
Juventus 1 (Dybala 45')
Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')
Red card: Rodrigo Bentancur (Juventus)
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RESULTS
ATP China Open
G Dimitrov (BUL x3) bt R Bautista Agut (ESP x5)
7-6, 4-6, 6-2
R Nadal (ESP x1) bt J Isner (USA x6)
6-4, 7-6
WTA China Open
S Halep (ROU x2) bt D Kasatkina (RUS)
6-2, 6-1
J Ostapenko (LAT x9) bt S Cirstea (ROU)
6-4, 6-4
ATP Japan Open
D Schwartzman (ARG x8) bt S Johnson (USA)
6-0, 7-5
D Goffin (BEL x4) bt R Gasquet (FRA)
7-5, 6-2
M Cilic (CRO x1) bt R Harrison (USA)
6-2, 6-0
RESULTS
Bantamweight:
Zia Mashwani (PAK) bt Chris Corton (PHI)
Super lightweight:
Flavio Serafin (BRA) bt Mohammad Al Khatib (JOR)
Super lightweight:
Dwight Brooks (USA) bt Alex Nacfur (BRA)
Bantamweight:
Tariq Ismail (CAN) bt Jalal Al Daaja (JOR)
Featherweight:
Abdullatip Magomedov (RUS) bt Sulaiman Al Modhyan (KUW)
Middleweight:
Mohammad Fakhreddine (LEB) bt Christofer Silva (BRA)
Middleweight:
Rustam Chsiev (RUS) bt Tarek Suleiman (SYR)
Welterweight:
Khamzat Chimaev (SWE) bt Mzwandile Hlongwa (RSA)
Lightweight:
Alex Martinez (CAN) bt Anas Siraj Mounir (MAR)
Welterweight:
Jarrah Al Selawi (JOR) bt Abdoul Abdouraguimov (FRA)
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MATCH INFO
What: India v Afghanistan, first Test
When: Starts Thursday
Where: M Chinnaswamy Stadium, Bengalaru
Abu Dhabi race card
5pm: Maiden (PA) | Dh80,000 | 1,600m
5.30pm: Maiden (PA) | Dh80,000 | 1,400m
6pm: Liwa Oasis (PA) Group 2 | Dh300,000 | 1,400m
6.30pm: Arabian Triple Crown Round-2 (PA) Group 3 | Dh300,000 | 2,200m
7pm: Wathba Stallions Cup (PA) Handicap | Dh70,000 | 1,600m
7.30pm: Maiden (TB) | Dh80,000 | 2,200m