Violence has wreaked havoc across Ethiopia during the past two years. AFP
Violence has wreaked havoc across Ethiopia during the past two years. AFP
Violence has wreaked havoc across Ethiopia during the past two years. AFP
Violence has wreaked havoc across Ethiopia during the past two years. AFP


Cautious optimism for the Horn of Africa's geopolitical woes


  • English
  • Arabic

December 07, 2022

A terrible fact of climate change is that so many of the places set to be affected the most and the quickest have the least capacity to prepare. Several countries in the Middle East are prime examples, as are the states in the Horn of Africa.

The region is home to roughly 11 per cent of Africans, and some of the continent’s most volatile states. The UN Population Fund estimates that more than 36 million people there have been affected by one of the longest and most severe droughts in recent history. It is expected to continue well into next year. Millions more are facing crisis levels of hunger.

Even the most stable governments around the world are scrambling to mitigate the dangers of climate change. The situation is made far harder when politics is unstable. A civil war began in Ethiopia in November 2020. And while a ceasefire was struck last month, hundreds of thousands of civilians died or were injured in the violence. The fighting also threatened Ethiopia’s territorial integrity, and its diverse, ancient culture. It came as the country was battling Covid-19, drought, locust swarms and a food crisis.

Sudan, meanwhile, has been in political turmoil since the ousting of its former president Omar Al Bashir in 2019, despite his departure being a hugely important and positive development for the future of the country. His problematic rule might be gone, but economic turmoil and mass protests are not.

  • Zahra Hussein (R), a nine-year-old Sudanese girl who dropped out of school for financial reasons, poses for a picture with her brother at their home in the village of Ed Moussa in Sudan's eastern state of Kassala, on September 27, 2022. - There are nearly seven million children in Sudan who no longer go to school, a victim of what aid agencies have warned is a "generational catastrophe". Children in the country have for years faced mounting difficulties gaining access to proper education, especially in rural areas. Sudan is already one of the world's poorest countries, plagued by political instability, droughts, hunger and conflict, with an adult literacy rate of only around 60 percent according to the World Bank. AFP
    Zahra Hussein (R), a nine-year-old Sudanese girl who dropped out of school for financial reasons, poses for a picture with her brother at their home in the village of Ed Moussa in Sudan's eastern state of Kassala, on September 27, 2022. - There are nearly seven million children in Sudan who no longer go to school, a victim of what aid agencies have warned is a "generational catastrophe". Children in the country have for years faced mounting difficulties gaining access to proper education, especially in rural areas. Sudan is already one of the world's poorest countries, plagued by political instability, droughts, hunger and conflict, with an adult literacy rate of only around 60 percent according to the World Bank. AFP
  • Abukk Sebit, 25, looks from her balcony after working to help financially her family in Sudan, at Ain Shams district area in Cairo, Egypt September 13, 2022. Reuters
    Abukk Sebit, 25, looks from her balcony after working to help financially her family in Sudan, at Ain Shams district area in Cairo, Egypt September 13, 2022. Reuters
  • Mostafa waits for the bus before leaving for Egypt in Khartoum, Sudan September 24, 2022. Reuters
    Mostafa waits for the bus before leaving for Egypt in Khartoum, Sudan September 24, 2022. Reuters
  • Abdalla Ibrahim, the Sudanese owner of a coffee shop and father of seven, looks on as he sits behind a pot on a fire in the village of Gosla in Sudan's eastern state of Kassala, on September 27, 2022. There are nearly seven million children in Sudan who no longer go to school, a victim of what aid agencies have warned is a "generational catastrophe". Children in the country have for years faced mounting difficulties gaining access to proper education, especially in rural areas. Sudan is already one of the world's poorest countries, plagued by political instability, droughts, hunger and conflict, with an adult literacy rate of only around 60 percent according to the World Bank. AFP
    Abdalla Ibrahim, the Sudanese owner of a coffee shop and father of seven, looks on as he sits behind a pot on a fire in the village of Gosla in Sudan's eastern state of Kassala, on September 27, 2022. There are nearly seven million children in Sudan who no longer go to school, a victim of what aid agencies have warned is a "generational catastrophe". Children in the country have for years faced mounting difficulties gaining access to proper education, especially in rural areas. Sudan is already one of the world's poorest countries, plagued by political instability, droughts, hunger and conflict, with an adult literacy rate of only around 60 percent according to the World Bank. AFP
  • Othman Abubakr, a Sudanese day labourer who has nine children, poses for a picture in the village of Wad Sharifai in Sudan's eastern state of Kassala on September 27, 2022. There are nearly seven million children in Sudan who no longer go to school, a victim of what aid agencies have warned is a "generational catastrophe". Children in the country have for years faced mounting difficulties gaining access to proper education, especially in rural areas. Sudan is already one of the world's poorest countries, plagued by political instability, droughts, hunger and conflict, with an adult literacy rate of only around 60 percent according to the World Bank. AFP
    Othman Abubakr, a Sudanese day labourer who has nine children, poses for a picture in the village of Wad Sharifai in Sudan's eastern state of Kassala on September 27, 2022. There are nearly seven million children in Sudan who no longer go to school, a victim of what aid agencies have warned is a "generational catastrophe". Children in the country have for years faced mounting difficulties gaining access to proper education, especially in rural areas. Sudan is already one of the world's poorest countries, plagued by political instability, droughts, hunger and conflict, with an adult literacy rate of only around 60 percent according to the World Bank. AFP
  • Ohaj Soliman, a 43-year-old Sudanese day labourer who put his children to work, poses for a picture during an interview with AFP in the village of Gosla in Sudan's eastern state of Kassala, on September 27, 2022. There are nearly seven million children in Sudan who no longer go to school, a victim of what aid agencies have warned is a "generational catastrophe". Children in the country have for years faced mounting difficulties gaining access to proper education, especially in rural areas. Sudan is already one of the world's poorest countries, plagued by political instability, droughts, hunger and conflict, with an adult literacy rate of only around 60 percent according to the World Bank. AFP
    Ohaj Soliman, a 43-year-old Sudanese day labourer who put his children to work, poses for a picture during an interview with AFP in the village of Gosla in Sudan's eastern state of Kassala, on September 27, 2022. There are nearly seven million children in Sudan who no longer go to school, a victim of what aid agencies have warned is a "generational catastrophe". Children in the country have for years faced mounting difficulties gaining access to proper education, especially in rural areas. Sudan is already one of the world's poorest countries, plagued by political instability, droughts, hunger and conflict, with an adult literacy rate of only around 60 percent according to the World Bank. AFP
  • Malaz Al-Bakr Ibrahim, 23, who has worked as a babysitter in Egypt since 2020 because of the economic and political situation in Sudan, poses for a photograph at Ain Shams district area in Cairo, Egypt September 13, 2022. Reuters
    Malaz Al-Bakr Ibrahim, 23, who has worked as a babysitter in Egypt since 2020 because of the economic and political situation in Sudan, poses for a photograph at Ain Shams district area in Cairo, Egypt September 13, 2022. Reuters
  • Abukk Sebit, 25 years old, poses with her children after working to help her family in Sudan financially at Ain Shams district area in Cairo, Egypt September 13, 2022. Reuters
    Abukk Sebit, 25 years old, poses with her children after working to help her family in Sudan financially at Ain Shams district area in Cairo, Egypt September 13, 2022. Reuters
  • Abukk Sebit, 25 years old, prepares food before going to work to help her family in Sudan financially at Ain Shams district area in Cairo, Egypt September 13, 2022. Reuters
    Abukk Sebit, 25 years old, prepares food before going to work to help her family in Sudan financially at Ain Shams district area in Cairo, Egypt September 13, 2022. Reuters
  • General view of a Sudanese coffee shop, where the number of Sudanese clients has increased in recent years after the economic and political conditions in their country deteriorated, at Ain Shams district area in Cairo, Egypt September 13, 2022. Reuters
    General view of a Sudanese coffee shop, where the number of Sudanese clients has increased in recent years after the economic and political conditions in their country deteriorated, at Ain Shams district area in Cairo, Egypt September 13, 2022. Reuters
  • Sudanese protesters rally against the October 2021 military coup which has led to deaths and scores of arrests of demonstrators, in Khartoum, Sudan, Monday, February 28, 2022. Since the coup, more than 80 people, mostly young men, have been killed and over 2,600 others injured in the protests, according to a Sudanese medical group. AP Photo
    Sudanese protesters rally against the October 2021 military coup which has led to deaths and scores of arrests of demonstrators, in Khartoum, Sudan, Monday, February 28, 2022. Since the coup, more than 80 people, mostly young men, have been killed and over 2,600 others injured in the protests, according to a Sudanese medical group. AP Photo
  • A man flashes the victory sign during a protest to denounce the October 2021 military coup, in Khartoum, Sudan, Jan. 9, 2022. Since the coup, security forces launched a deadly crackdown on protesters. Many activists were taken from their homes or snatched from the streets, according to documents he provided to The Associated Press. Around 80 people, mostly young men, were killed and over 2,200 others were wounded in the protests since the coup, according to a Sundanese medical group. AP Photo
    A man flashes the victory sign during a protest to denounce the October 2021 military coup, in Khartoum, Sudan, Jan. 9, 2022. Since the coup, security forces launched a deadly crackdown on protesters. Many activists were taken from their homes or snatched from the streets, according to documents he provided to The Associated Press. Around 80 people, mostly young men, were killed and over 2,200 others were wounded in the protests since the coup, according to a Sundanese medical group. AP Photo
  • A Sudanese protester holds a painting of a person who reportedly died in a previous rally during a protest, in Khartoum, Sudan, 20 January 2022. Sudanese protesters rallied against the killing of at least 70 protests in crackdown against pro-democracy since the beginning of the military coup on 25 October 2021. The protest was organized as the US Assistant Secretary of State Molly Phee and US special envoy for the Horn of Africa David Satterfield visit Khartoum to meet separately with pro-democracy activists and military leaders to put an end to the crisis in the country. EPA
    A Sudanese protester holds a painting of a person who reportedly died in a previous rally during a protest, in Khartoum, Sudan, 20 January 2022. Sudanese protesters rallied against the killing of at least 70 protests in crackdown against pro-democracy since the beginning of the military coup on 25 October 2021. The protest was organized as the US Assistant Secretary of State Molly Phee and US special envoy for the Horn of Africa David Satterfield visit Khartoum to meet separately with pro-democracy activists and military leaders to put an end to the crisis in the country. EPA
  • A boy draws on the street in front of a barricade during a two-day general strike and civil disobedience campaign in response to demonstrators' deaths against military takeover on October 25, 2021, in Khartoum, Sudan January 18, 2022. Reuters
    A boy draws on the street in front of a barricade during a two-day general strike and civil disobedience campaign in response to demonstrators' deaths against military takeover on October 25, 2021, in Khartoum, Sudan January 18, 2022. Reuters
  • A Sudanese demonstrator waves a national flag during a protest against the October 2021 military coup, in the capital Khartoum, on January 13, 2022. The demonstrations which converged from several parts of Khartoum came only days after the United Nations launched a bid to facilitate talks between Sudanese factions. AFP
    A Sudanese demonstrator waves a national flag during a protest against the October 2021 military coup, in the capital Khartoum, on January 13, 2022. The demonstrations which converged from several parts of Khartoum came only days after the United Nations launched a bid to facilitate talks between Sudanese factions. AFP
  • Sudanese protesters take to the streets of the capital Khartoum as they rally against the October 2021 military coup, on January 13, 2022. The demonstrations which converged from several parts of Khartoum came only days after the United Nations launched a bid to facilitate talks between Sudanese factions. AFP
    Sudanese protesters take to the streets of the capital Khartoum as they rally against the October 2021 military coup, on January 13, 2022. The demonstrations which converged from several parts of Khartoum came only days after the United Nations launched a bid to facilitate talks between Sudanese factions. AFP
  • Sudanese protesters take cover as security forces fire tear gas during clashes with security forces at an anti-coup protest, in Khartoum, Sudan, 09 January 2022. Security forces fired tear gas to disperse protesters gathering in Khartoum and attempting to march towards the presidential palace, as part of the continuing protesting movement against a military coup in October 2021. The protest was organized a day after the UN envoy for Sudan said the international group will invite different parties for talks in Sudan to end the crisis. EPA
    Sudanese protesters take cover as security forces fire tear gas during clashes with security forces at an anti-coup protest, in Khartoum, Sudan, 09 January 2022. Security forces fired tear gas to disperse protesters gathering in Khartoum and attempting to march towards the presidential palace, as part of the continuing protesting movement against a military coup in October 2021. The protest was organized a day after the UN envoy for Sudan said the international group will invite different parties for talks in Sudan to end the crisis. EPA
  • A Sudanese protester attempts to throw back a tear gas canister during clashes with security forces at an anti-coup protest, in Khartoum, Sudan, 09 January 2022. Security forces fired tear gas to disperse protesters gathering in Khartoum and attempting to march towards the presidential palace, as part of the continuing protesting movement against a military coup in October 2021. The protest was organized a day after the UN envoy for Sudan said the international group will invite different parties for talks in Sudan to end the crisis. EPA
    A Sudanese protester attempts to throw back a tear gas canister during clashes with security forces at an anti-coup protest, in Khartoum, Sudan, 09 January 2022. Security forces fired tear gas to disperse protesters gathering in Khartoum and attempting to march towards the presidential palace, as part of the continuing protesting movement against a military coup in October 2021. The protest was organized a day after the UN envoy for Sudan said the international group will invite different parties for talks in Sudan to end the crisis. EPA
  • Sudanese protesters take cover during clashes with security forces at an anti-coup protest, in Khartoum, Sudan, 09 January 2022. Security forces fired tear gas to disperse protesters gathering in Khartoum and attempting to march towards the presidential palace, as part of the continuing protesting movement against a military coup in October 2021. The protest was organized a day after the UN envoy for Sudan said the international group will invite different parties for talks in Sudan to end the crisis. EPA
    Sudanese protesters take cover during clashes with security forces at an anti-coup protest, in Khartoum, Sudan, 09 January 2022. Security forces fired tear gas to disperse protesters gathering in Khartoum and attempting to march towards the presidential palace, as part of the continuing protesting movement against a military coup in October 2021. The protest was organized a day after the UN envoy for Sudan said the international group will invite different parties for talks in Sudan to end the crisis. EPA
  • Sudanese protesters take cover as security forces fire tear gas during clashes with security forces at an anti-coup protest, in Khartoum, Sudan, 09 January 2022. Security forces fired tear gas to disperse protesters gathering in Khartoum and attempting to march towards the presidential palace, as part of the continuing protesting movement against a military coup in October 2021. The protest was organized a day after the UN envoy for Sudan said the international group will invite different parties for talks in Sudan to end the crisis. EPA
    Sudanese protesters take cover as security forces fire tear gas during clashes with security forces at an anti-coup protest, in Khartoum, Sudan, 09 January 2022. Security forces fired tear gas to disperse protesters gathering in Khartoum and attempting to march towards the presidential palace, as part of the continuing protesting movement against a military coup in October 2021. The protest was organized a day after the UN envoy for Sudan said the international group will invite different parties for talks in Sudan to end the crisis. EPA

And Somalia, one of the most impoverished countries in the world, is also one of the most vulnerable to terrorism. At the end of November, 14 people were killed in a hotel siege carried out by the Al Shabab terrorist group that once controlled the capital Mogadishu and continues to aspire to establish an extremist state in the country.

Tensions remain high in Ethiopia, a number of high-profile experts have consistently said that the conflict does not get as much attention as other wars and more than 5 million people face starvation because of fighting, according to the World Food Programme.

Terrorism has blighted Somalia for years and will be hard to root out, particularly as the government struggles with high levels of internally displaced people and ongoing political infighting.

But there are signs of hope in the region.

Ethiopia’s ceasefire, a result of mediation by the African Union, has a greater chance of lasting following reports on Sunday that most Tigrayan forces, who were fighting government troops, have withdrawn from front-line positions.

Sudan’s ruling military-civilian coalition, too, have signed an agreement. Many in the international community hope it will restore the country’s peaceful transition to civilian rule. The UAE, for one, welcomed the agreement of an initial political framework reached by Sudanese parties to complete the transitional period, with Afra Al Hameli, the director of strategic communications at the Ministry of Foreign Affairs and International Co-operation, expressing "aspirations for a peaceful and successful political transition in a way that enhances stability and brings prosperity and development to [Sudan's] people".

But much effort is needed to win the peace and secure a stable and prosperous future for Sudan’s people. Today, almost a million more people are in need of humanitarian assistance than last year. The overall number is at least, 14.3 million, according to Acaps, an NGO. This is the time to support the Sudanese people.

The leaders of the Horn of Africa should pursue the urgent priority of building political stability as soon as possible. Only then will the region be able to put its best foot forward in an uncertain, tough future. For now, all those who can should support the positive momentum witnessed in recent weeks.

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)

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
I Care A Lot

Directed by: J Blakeson

Starring: Rosamund Pike, Peter Dinklage

3/5 stars

Real Madrid 1
Ronaldo (87')

Athletic Bilbao 1
Williams (14')

MATCH INFO

Uefa Champions League semi-finals, first leg
Liverpool v Roma

When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome

What is Genes in Space?

Genes in Space is an annual competition first launched by the UAE Space Agency, The National and Boeing in 2015.

It challenges school pupils to design experiments to be conducted in space and it aims to encourage future talent for the UAE’s fledgling space industry. It is the first of its kind in the UAE and, as well as encouraging talent, it also aims to raise interest and awareness among the general population about space exploration. 

Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The biog

Favourite hobby: taking his rescue dog, Sally, for long walks.

Favourite book: anything by Stephen King, although he said the films rarely match the quality of the books

Favourite film: The Shawshank Redemption stands out as his favourite movie, a classic King novella

Favourite music: “I have a wide and varied music taste, so it would be unfair to pick a single song from blues to rock as a favourite"

The specs

Engine: 3.8-litre, twin-turbo V8

Transmission: seven-speed automatic

Power: 592bhp

Torque: 620Nm

Price: Dh980,000

On sale: now

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

War

Director: Siddharth Anand

Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor

Rating: Two out of five stars 

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%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3ETwin-turbo%2C%20V8%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E8-speed%20automatic%20and%20manual%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E503%20bhp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E513Nm%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh646%2C800%20(%24176%2C095)%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A
RESULTS

Main card

Bantamweight 56.4kg: Mehdi Eljamari (MAR) beat Abrorbek Madiminbekov (UZB), Split points decision

Super heavyweight 94 kg: Adnan Mohammad (IRN) beat Mohammed Ajaraam (MAR), Split points decision

Lightweight 60kg:  Zakaria Eljamari (UAE) beat Faridoon Alik Zai (AFG), RSC round 3

Light heavyweight 81.4kg: Taha Marrouni (MAR) beat Mahmood Amin (EGY), Unanimous points decision

Light welterweight 64.5kg: Siyovush Gulmamadov (TJK) beat Nouredine Samir (UAE), Unanimous points decision

Light heavyweight 81.4kg:  Ilyass Habibali (UAE) beat Haroun Baka (ALG), KO second round

Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

Biography

Favourite Meal: Chicken Caesar salad

Hobbies: Travelling, going to the gym

Inspiration: Father, who was a captain in the UAE army

Favourite read: Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter

Favourite film: The Founder, about the establishment of McDonald's

The biog

From: Ras Al Khaimah

Age: 50

Profession: Electronic engineer, worked with Etisalat for the past 20 years

Hobbies: 'Anything that involves exploration, hunting, fishing, mountaineering, the sea, hiking, scuba diving, and adventure sports'

Favourite quote: 'Life is so simple, enjoy it'

Charlotte Gainsbourg

Rest

(Because Music)

Generational responses to the pandemic

Devesh Mamtani from Century Financial believes the cash-hoarding tendency of each generation is influenced by what stage of the employment cycle they are in. He offers the following insights:

Baby boomers (those born before 1964): Owing to market uncertainty and the need to survive amid competition, many in this generation are looking for options to hoard more cash and increase their overall savings/investments towards risk-free assets.

Generation X (born between 1965 and 1980): Gen X is currently in its prime working years. With their personal and family finances taking a hit, Generation X is looking at multiple options, including taking out short-term loan facilities with competitive interest rates instead of dipping into their savings account.

Millennials (born between 1981 and 1996): This market situation is giving them a valuable lesson about investing early. Many millennials who had previously not saved or invested are looking to start doing so now.

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.”

When Umm Kulthum performed in Abu Dhabi

  

 

 

 

Known as The Lady of Arabic Song, Umm Kulthum performed in Abu Dhabi on November 28, 1971, as part of celebrations for the fifth anniversary of the accession of Sheikh Zayed bin Sultan Al Nahyan as Ruler of Abu Dhabi. A concert hall was constructed for the event on land that is now Al Nahyan Stadium, behind Al Wahda Mall. The audience were treated to many of Kulthum's most well-known songs as part of the sold-out show, including Aghadan Alqak and Enta Omri.

 
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%3Cp%3E%3Cstrong%3EPowertrain%3A%20%3C%2Fstrong%3ESingle%20electric%20motor%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E201hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E310Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20auto%0D%3Cbr%3E%3Cstrong%3EBattery%3A%20%3C%2Fstrong%3E53kWh%20lithium-ion%20battery%20pack%20(GS%20base%20model)%3B%2070kWh%20battery%20pack%20(GF)%0D%3Cbr%3E%3Cstrong%3ETouring%20range%3A%20%3C%2Fstrong%3E350km%20(GS)%3B%20480km%20(GF)%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C900%20(GS)%3B%20Dh149%2C000%20(GF)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

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  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
  • Field supervisor: Dh9,000 to Dh12,000
  • Field operator: Dh5,000 to Dh7,000
Company%20Profile
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Updated: December 07, 2022, 3:00 AM