Monday at the G20 summit saw a key meeting between the US and China. AP
Monday at the G20 summit saw a key meeting between the US and China. AP
Monday at the G20 summit saw a key meeting between the US and China. AP
Monday at the G20 summit saw a key meeting between the US and China. AP


G20 nations must strive to prevent new wars and global economic chaos


  • English
  • Arabic

November 15, 2022

Taking place under the theme "Recover Together, Recover Stronger," this year's G20 summit could hardly be more pressing, as hopes for economic recovery from the turmoil of Covid-19 are getting more and more distant by the day.

The group, which is made up of 19 countries and the EU, has massive sway when it comes to the world economy. Its countries constitute about 80 per cent of Global GDP, 75 per cent of international trade and two thirds of the world's population.

That is why they need to muster all the energy and clout they have to stop a potentially devastating global downturn.

Other powers are in attendance to support the process. On Monday, UAE President Sheikh Mohamed touched down at Indonesia's Ngurah Rai International Airport, at the invitation of the host to attend the summit. He was also there to consolidate strong ties between the UAE and Indonesia.

  • President Sheikh Mohamed arrives for the G20 Summit in Nusa, Bali. Photo: UAE Presidential Court
    President Sheikh Mohamed arrives for the G20 Summit in Nusa, Bali. Photo: UAE Presidential Court
  • US President Joe Biden, right, and China's President Xi Jinping, left, shake hands at the summit. AFP
    US President Joe Biden, right, and China's President Xi Jinping, left, shake hands at the summit. AFP
  • Canada's Prime Minister Justin Trudeau arrives. AFP
    Canada's Prime Minister Justin Trudeau arrives. AFP
  • French President Emmanuel Macron is welcomed. AFP
    French President Emmanuel Macron is welcomed. AFP
  • Chinese President Xi Jinping (R) arrives. EPA
    Chinese President Xi Jinping (R) arrives. EPA
  • Turkey's President Recep Tayyip Erdogan and his wife Emine Erdogan arrive to attend the meeting. AFP
    Turkey's President Recep Tayyip Erdogan and his wife Emine Erdogan arrive to attend the meeting. AFP
  • Prime Minister of Japan Fumio Kishida and his wife Yuko Kishida arrive. Reuters
    Prime Minister of Japan Fumio Kishida and his wife Yuko Kishida arrive. Reuters
  • Australian Prime Minister Anthony Albanese arrives. Reuters
    Australian Prime Minister Anthony Albanese arrives. Reuters
  • Students wave flags of G20 member nations to greet world leaders, on a street near Ngurah Rai International airport in Bali. EPA
    Students wave flags of G20 member nations to greet world leaders, on a street near Ngurah Rai International airport in Bali. EPA
  • US President Joe Biden and Indonesia's President Joko Widodo hold a meeting in Bali. AFP
    US President Joe Biden and Indonesia's President Joko Widodo hold a meeting in Bali. AFP
  • A video by Amazon and Bezos Earth Fund executive chairman Jeff Bezos is displayed at the B20 Summit for business leaders, held before the G20 leaders summit. AP
    A video by Amazon and Bezos Earth Fund executive chairman Jeff Bezos is displayed at the B20 Summit for business leaders, held before the G20 leaders summit. AP
  • US President Joe Biden arrives for the summit in Bali. AFP
    US President Joe Biden arrives for the summit in Bali. AFP
  • Russia's Foreign Minister Sergey Lavrov (R) arrives to attend the G20 summit. AFP
    Russia's Foreign Minister Sergey Lavrov (R) arrives to attend the G20 summit. AFP
  • South Korean President Yoon Suk-yeol and his wife Kim Keon-hee arrive. EPA
    South Korean President Yoon Suk-yeol and his wife Kim Keon-hee arrive. EPA
  • British Prime Minister Rishi Sunak holds a 'huddle' press conference with political journalists on board a plane heading for Bali. PA
    British Prime Minister Rishi Sunak holds a 'huddle' press conference with political journalists on board a plane heading for Bali. PA
  • Tourists pose for pictures in front of police-armoured vehicles parked near the venue of the G20 Bali Summit in Nusa Dua, Bali. AFP
    Tourists pose for pictures in front of police-armoured vehicles parked near the venue of the G20 Bali Summit in Nusa Dua, Bali. AFP
  • Indonesia is gearing up to host leaders of the world's biggest economies. AP Photo
    Indonesia is gearing up to host leaders of the world's biggest economies. AP Photo
  • A plane comes in to land at Ngurah Rai International Airport in Bali. AFP
    A plane comes in to land at Ngurah Rai International Airport in Bali. AFP
  • Bali will host the 17th Group of 20 Heads of State and Government Summit from November 15 to 16. EPA
    Bali will host the 17th Group of 20 Heads of State and Government Summit from November 15 to 16. EPA
  • Flags of the participating countries line a motorway. AFP
    Flags of the participating countries line a motorway. AFP
  • Hindus join the Melaspas and Mecaru rituals ahead of the G20 meeting. Reuters
    Hindus join the Melaspas and Mecaru rituals ahead of the G20 meeting. Reuters
  • The logo of the G20 summit, in Jakarta. AFP
    The logo of the G20 summit, in Jakarta. AFP
  • Indonesian military personnel take part in a security drill for the G20 meeting in Denpasar, Bali's main city. EPA
    Indonesian military personnel take part in a security drill for the G20 meeting in Denpasar, Bali's main city. EPA
  • Indonesian military personnel prepare for the G20 meeting. Reuters
    Indonesian military personnel prepare for the G20 meeting. Reuters
  • An Indonesian police officer stands in front of a portrait of President Joko Widodo. EPA
    An Indonesian police officer stands in front of a portrait of President Joko Widodo. EPA
  • Part of the security drill in Denpasar. Reuters
    Part of the security drill in Denpasar. Reuters
  • Indonesian police officers. EPA
    Indonesian police officers. EPA
  • Female police officers stand to attention during a security parade. AP Photo
    Female police officers stand to attention during a security parade. AP Photo
  • Soldiers during a security parade. AP Photo
    Soldiers during a security parade. AP Photo
  • Military honour guards at a security parade. AP Photo
    Military honour guards at a security parade. AP Photo
  • Indonesian military personnel. AFP
    Indonesian military personnel. AFP
  • Indonesian military personnel on the resort island of Bali. AFP
    Indonesian military personnel on the resort island of Bali. AFP

But the meeting will be globally historic for bleaker reasons.

Top of the agenda is the war in Ukraine, which has stressed both food and energy markets, affecting both rich and poor countries. In what some view as a blow to diplomatic progress on the issue, Russian President Vladimir Putin, one of the G20s most important leaders, is not in attendance. Instead, Russia is represented in person by Foreign Minister Sergey Lavrov.

Earlier speculation that both Mr Putin and Ukrainian President Volodymyr Zelenskyy could share the same platform for the first time might have been dashed, but Ukraine will still rank high on the agenda, particularly for the biggest players at the summit.

Therefore, all eyes were on Monday's meeting between US President Joe Biden and his Chinese counterpart Xi Jinping. Tensions are high between the two, but words exchanged by both on Monday were encouragingly friendly. With an arm around his colleague, Mr Biden said "It's just great to see you". It is the first time the pair have met in person since the Obama administration, when Mr Biden was vice president.

The horrors of the Ukraine war are evidence enough that 21st-century interstate conflict must be stopped. That is why the pair were so keen to discuss others that could break out, particularly between North and South Korea and even China and the US themselves over the status of Taiwan.

The case for such collaboration at the G20 must be made in such a dangerous situation, and reinforced through actions when both return to their respective countries.

While he is in the country, Sheikh Mohamed also attended with his Indonesian counterpart President Joko Widodo the inauguration of the Sheikh Zayed Grand Mosque in Solo. It is a replica of the bigger site in Abu Dhabi, and, according to a tweet released by Sheikh Mohamed on Monday, represents values of peace and goodwill.

It is a significant visit that can remind people that, however bad things are, co-operation and friendship still has a place in global diplomacy.

At the end of the G20 conference, members are expected release a statement of commitments that delegates have reached at the meeting. It will undoubtedly be couched in the language of co-operation and collaboration so often seen in diplomatic documents. But none of it is binding. In such difficult times, taking these statements forward after the meeting will, therefore, be of tantamount importance.

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

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.”

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

UAE v Zimbabwe A, 50 over series

Fixtures
Thursday, Nov 9 - 9.30am, ICC Academy, Dubai
Saturday, Nov 11 – 9.30am, ICC Academy, Dubai
Monday, Nov 13 – 2pm, Dubai International Stadium
Thursday, Nov 16 – 2pm, ICC Academy, Dubai
Saturday, Nov 18 – 9.30am, ICC Academy, Dubai

Company%20profile%20
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The specs: 2017 Porsche 718 Cayman

Price, base / as tested Dh222,500 / Dh296,870

Engine 2.0L, flat four-cylinder

Transmission Seven-speed PDK

Power 300hp @ 6,500rpm

Torque 380hp @ 1,950rpm

Fuel economy, combined 6.9L / 100km

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EDirect%20Debit%20System%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20Sept%202017%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20with%20a%20subsidiary%20in%20the%20UK%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20Undisclosed%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Elaine%20Jones%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3C%2Fp%3E%0A
Company%20Profile
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RACE SCHEDULE

All times UAE ( 4 GMT)

Friday, September 29
First practice: 7am - 8.30am
Second practice: 11am - 12.30pm

Saturday, September 30
Qualifying: 1pm - 2pm

Sunday, October 1
Race: 11am - 1pm

 

 

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THE%20SPECS
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2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

Three ways to limit your social media use

Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.

1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.

2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information. 

3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.

SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FOLD%204
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What are the main cyber security threats?

Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.

The%20specs
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World Cricket League Division 2

In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.

UAE fixtures

Thursday, February 8 v Kenya; Friday, February v Canada; Sunday, February 11 v Nepal; Monday, February 12 v Oman; Wednesday, February 14 v Namibia; Thursday, February 15 final

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
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Straightforward ways to reduce sugar in your family's diet
  • Ban fruit juice and sodas
  • Eat a hearty breakfast that contains fats and wholegrains, such as peanut butter on multigrain toast or full-fat plain yoghurt with whole fruit and nuts, to avoid the need for a 10am snack
  • Give young children plain yoghurt with whole fruits mashed into it
  • Reduce the number of cakes, biscuits and sweets. Reserve them for a treat
  • Don’t eat dessert every day 
  • Make your own smoothies. Always use the whole fruit to maintain the benefit of its fibre content and don’t add any sweeteners
  • Always go for natural whole foods over processed, packaged foods. Ask yourself would your grandmother have eaten it?
  • Read food labels if you really do feel the need to buy processed food
  • Eat everything in moderation
Race results:

1. Thani Al Qemzi (UAE) Team Abu Dhabi: 46.44 min

2. Peter Morin (FRA) CTIC F1 Shenzhen China Team: 0.91sec

3. Sami Selio (FIN) Mad-Croc Baba Racing Team: 31.43sec

Empire of Enchantment: The Story of Indian Magic

John Zubrzycki, Hurst Publishers

The specs
Engine: 2.0-litre turbo 4-cyl

Transmission: eight-speed auto

Power: 190bhp

Torque: 300Nm

Price: Dh169,900

On sale: now 

THE CLOWN OF GAZA

Director: Abdulrahman Sabbah 

Starring: Alaa Meqdad

Rating: 4/5

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WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

Updated: November 15, 2022, 8:10 AM