At a reception earlier this year in the British Embassy in Dubai, the newly appointed ambassador, Dominic Jermey, referred to London as the "eighth emirate" due to the close relationship between both countries. Many people aren't aware of just how close this relationship is today.
For instance, the only country in the world in which Britain - or, for that matter, any other country - is represented by two embassies in the same country is the UAE. The dual embassies in Abu Dhabi and Dubai are probably due to the fact that both were fully functioning outposts prior to the UAE's union.
Soon after the UAE gained its independence from a government formed under the current British monarch, it set up one of its first embassies in London to oversee interests in the British Isles as well as the European mainland.
Today, there are approximately 240,000 British citizens living in the UAE, with another one million plus visiting the country every year and up to 40,000 Emiratis visiting Britain annually. In fact, just this month, Dubai beat other cities to become the second busiest destination at London Heathrow airport after New York.
The British Business Group in the UAE today represents over 1,600 businesses based in the country that are encouraged by an annual trade between both countries exceeding Dh45bn, with ambitious plans to increase it to Dh70bn by 2015.
Many of the UAE's leaders were educated in British academies, schools and universities, including the UAE's Prime Minister and Ruler of Dubai, Abu Dhabi's Crown Prince, as well as the ruler of Sharjah, who established a centre for Gulf studies in Exeter University, his alma mater. Recently, a number of leading British institutions such as the London Business School, Repton School and Cass Business School have set up permanent campuses in the UAE while the number of Emirati students in Britain today is estimated to be around 2,800.
British nationals have for decades contributed to setting up successful UAE ventures, including Emirates Airlines. This company in turn inked a historic deal to sponsor the Arsenal stadium for Dh662 million in 2004, making it the world's largest sponsorship agreement. The countries' sports relations were further elevated with Sheikh Mansour Bin Zayed's acquisition of Manchester City FC in August 2008.
Many successful Emiratis that I have written about are proud of their mixed Emirati-British heritage, including Ali Mostafa, the director of City of Life, as well as Sarah Shaw of Abu Dhabi's Executive Council.
The British media has also firmly established a presence in the UAE, with newspapers such as the Financial Times and The Times being printed in the country, while the Telegraph and Skynews maintain permanent correspondents here.
The UAE's investments in Britain have included a stake in Barclays Bank, Travelodge, the famous London Eye, and span various sectors of the economy. Dubai Ports World, meanwhile, is spearheading the development of the Dh5.4bn London Gateway project to create Britain's newest deep-sea container port.
On the cultural front, the British Council in the UAE has played a major role in deepening the special relationship between both countries.
Besides offering English language courses, it has been instrumental in bringing world class art exhibitions to the UAE, including the Lure of the East and the Jameel Prize, which started at the Tate Britain and the Victoria and Albert Museum, respectively, and made their way to the Sharjah Islamic Civilisation Museum. The British Museum also recently hosted Word into Art, an exhibition of modern Middle Eastern calligraphy sponsored by Dubai Holding that was later exhibited at the Dubai International Financial Centre.
I recall many years ago walking down the Dubai Creek and admiring the Dubai Municipality building that was inaugurated by Queen Elizabeth II on her first visit to the UAE in February 1979. The Queen has demonstrated throughout her life her dedication to her country. At London's Imperial War Museum, visitors can see images of the then princess visiting bombed sites and interacting with the crowd during the Second World War. This spirit of unrelenting dedication touches the hearts of every Emirati as it reminds them of Sheikh Zayed, the country's founding father who hosted the visiting monarch over three decades ago.
Both Britain and the UAE are progressive monarchical federations that have welcomed immigrants from around the world.
The relationship between the UAE and Britain is one that is manifested everyday and goes far beyond a single element; it is one that is rooted in mutual respect and one extends to issues of global security, culture and education.
Finally, it is a relationship between the global capitals of Abu Dhabi and London that will be reaffirmed during the historic visit of Queen Elizabeth II.
Sultan Sooud Al Qassemi is a non-resident fellow at the Dubai School of Government
Correction: This article has been changed from an earlier version that said both countries intended to increase trade to Dh70bn by 2010.
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
Francesco Totti's bio
Born September 27, 1976
Position Attacking midifelder
Clubs played for (1) - Roma
Total seasons 24
First season 1992/93
Last season 2016/17
Appearances 786
Goals 307
Titles (5) - Serie A 1; Italian Cup 2; Italian Supercup 2
UAE currency: the story behind the money in your pockets
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
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Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
Director: Shawn Levy
Rating: 3/5
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German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
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Global state-owned investor ranking by size
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China
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UAE
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Japan
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Norway
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Canada
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First Person
Richard Flanagan
Chatto & Windus
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
if you go
The flights Fly Dubai, Air Arabia, Emirates, Etihad, and Royal Jordanian all offer direct, three-and-a-half-hour flights from the UAE to the Jordanian capital Amman. Alternatively, from June Fly Dubai will offer a new direct service from Dubai to Aqaba in the south of the country. See the airlines’ respective sites for varying prices or search on reliable price-comparison site Skyscanner.
The trip
Jamie Lafferty was a guest of the Jordan Tourist Board. For more information on adventure tourism in Jordan see Visit Jordan. A number of new and established tour companies offer the chance to go caving, rock-climbing, canyoning, and mountaineering in Jordan. Prices vary depending on how many activities you want to do and how many days you plan to stay in the country. Among the leaders are Terhaal, who offer a two-day canyoning trip from Dh845 per person. If you really want to push your limits, contact the Stronger Team. For a more trek-focused trip, KE Adventure offers an eight-day trip from Dh5,300 per person.
Intercontinental Cup
Namibia v UAE Saturday Sep 16-Tuesday Sep 19
Table 1 Ireland, 89 points; 2 Afghanistan, 81; 3 Netherlands, 52; 4 Papua New Guinea, 40; 5 Hong Kong, 39; 6 Scotland, 37; 7 UAE, 27; 8 Namibia, 27
COMPANY%20PROFILE
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In the Restaurant: Society in Four Courses
Christoph Ribbat
Translated by Jamie Searle Romanelli
Pushkin Press
Squads
Australia: Finch (c), Agar, Behrendorff, Carey, Coulter-Nile, Lynn, McDermott, Maxwell, Short, Stanlake, Stoinis, Tye, Zampa
India: Kohli (c), Khaleel, Bumrah, Chahal, Dhawan, Shreyas, Karthik, Kuldeep, Bhuvneshwar, Pandey, Krunal, Pant, Rahul, Sundar, Umesh
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The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
A Dog's Journey
Directed by: Gail Mancuso
Starring: Dennis Quaid, Josh Gad, Marg Helgenberger, Betty Gilpin, Kathryn Prescott
3 out of 5 stars
Rankings
ATP: 1. Novak Djokovic (SRB) 10,955 pts; 2. Rafael Nadal (ESP) 8,320; 3. Alexander Zverev (GER) 6,475 ( 1); 5. Juan Martin Del Potro (ARG) 5,060 ( 1); 6. Kevin Anderson (RSA) 4,845 ( 1); 6. Roger Federer (SUI) 4,600 (-3); 7. Kei Nishikori (JPN) 4,110 ( 2); 8. Dominic Thiem (AUT) 3,960; 9. John Isner (USA) 3,155 ( 1); 10. Marin Cilic (CRO) 3,140 (-3)
WTA: 1. Naomi Osaka (JPN) 7,030 pts ( 3); 2. Petra Kvitova (CZE) 6,290 ( 4); 3. Simona Halep (ROM) 5,582 (-2); 4. Sloane Stephens (USA) 5,307 ( 1); 5. Karolina Pliskova (CZE) 5,100 ( 3); 6. Angelique Kerber (GER) 4,965 (-4); 7. Elina Svitolina (UKR) 4,940; 8. Kiki Bertens (NED) 4,430 ( 1); 9. Caroline Wozniacki (DEN) 3,566 (-6); 10. Aryna Sabalenka (BLR) 3,485 ( 1)
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.”
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now