The UAE preserves an environment in which every citizen leads a life of dignity and security. (Sarah Dea / The National)
The UAE preserves an environment in which every citizen leads a life of dignity and security. (Sarah Dea / The National)
The UAE preserves an environment in which every citizen leads a life of dignity and security. (Sarah Dea / The National)
The UAE preserves an environment in which every citizen leads a life of dignity and security. (Sarah Dea / The National)

On National Day, we look back but also forward


  • English
  • Arabic

It has been a long and challenging journey these past years for all of us in the region, and around the globe.

Every country has, in one form or another, dealt with the repercussions of the global economic crisis of 2008. Lessons were learnt, with some adhering to their learnings more than others. But as developed countries, we worked together, stood tall and faced yet another global crisis together, many of us coming out the better for it.

The United Arab Emirates has always pushed forward to be a front-runner in the climb towards progress, realising at an early stage, alongside many fellow progressive nations, that the world needs to start thinking smarter, and looking further forward along the path ahead.

As a country, we began considering the unexpected, realistically managing our expectations with a clear vision of possible outcomes but a determination to move forward, come what may.

The UAE’s long-standing vision of progress once more became the foundation of an innovative concept, further improving the nation’s strategy during trying times by building on previous steps, made from solid experience, with our eyes still firmly locked upwards towards our goals.

And as if to put our acquired knowledge and experience in dealing with global crisis, we were introduced to the historic drop in oil prices in mid-2014, bringing down the value of oil to less than half its once healthy and long-enduring price.

The oil prices for three years before 2014 proved to be troublesome because as consumers, producers, governments and private sector companies, we all became accustomed, as we do, to the comfort and luxury of steady and safe oil prices, making the change even more difficult to manage.

It is during these trying and uncertain times that the Emirates proved that it had maintained its principles and vision of progress by combining it with the invaluable lessons learnt from the economic downturn.

Knowledge centres, strategic committees, new federal and local authorities and much more were created, all aimed at keeping information flowing and building tried and tested, ever-evolving, long-term strategy and forecasts.

As a nation, we have triumphantly taken our place back on the ladder towards progress and development with a clear strategy and stronger will.

At the end of this challenging period, our children, our brothers, our fathers, our sisters, our daughters and our family answered the call to arms to protect and defend this great nation.

Our love goes out to all the families that lost a hero. If anything, this new page in our history has brought the people of the UAE closer together and created a community spirit awareness that was, for the most part, taken for granted.

The new direction has indeed led to a stronger family culture on a national level. We are all in this together and though we charge towards an era of complete peace, we perhaps must figure out our way through this challenge collectively as a people first.

In his key note speech at the Government Summit 2015, Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said: “Since its inception, the UAE has been sending a message to the others that this region can still be a source of benevolence, peace and love for the whole world.”

Sheikh Mohammed also spoke about the UAE’s contribution in humanitarian fields, not only through the government, but also by its citizens, residents and businessmen.

We come once more to celebrate and mark the day of the UAE’s conception.

This auspicious day allows us to reflect on the year behind, not only looking back at the last 12 months, but always benchmarking it with the principals, morals and ethics created by the Father of the UAE, the late Sheikh Zayed and carried forward and upwards by his son, Sheikh Khalifa bin Zayed Al Nahyan, the President.

And though many have heard this line by Sheikh Zayed: “A nation without a past is a nation without a present or a future”, what comes after is even more inspiring: “Thanks to God, our nation has a flourishing civilisation, deep-rooted in this land for many centuries. These roots will always flourish and bloom in the glorious present of our nation and in its anticipated future.”

These are words to hold close on this National Day.

Taryam Al Subaihi is a political and social commentator who specialises in media and communications

On Twitter: @TaryamAlSubaihi

Bournemouth 0

Manchester United 2
Smalling (28'), Lukaku (70')

Essentials

The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes. 
 

Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes. 


In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes. 
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

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

How Sputnik V works
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THE DETAILS

Solo: A Star Wars Story

Director: Ron Howard

2/5

Second Test, Day 2:

South Africa 335 & 75/1 (22.0 ov)
England 205
South Africa lead by 205 runs with 9 wickets remaining

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Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

UAE squad

Ali Kashief, Salem Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdelrahman, Mohammed Al Attas (Al Jazira), Mohmmed Al Shamsi, Hamdan Al Kamali, Mohammad Barghash, Khalil Al Hammadi (Al Wahda), Khalid Eisa, Mohammed Shakir, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Adel Al Hosani, Al Hassan Saleh, Majid Suroor (Sharjah), Waleed Abbas, Ismail Al Hammadi, Ahmed Khalil (Shabab Al Ahli Dubai) Habib Fardan, Tariq Ahmed, Mohammed Al Akbari (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Mahrami (Baniyas)

Combating coronavirus
Company%20profile
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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.”

Top Hundred overseas picks

London Spirit: Kieron Pollard, Riley Meredith 

Welsh Fire: Adam Zampa, David Miller, Naseem Shah 

Manchester Originals: Andre Russell, Wanindu Hasaranga, Sean Abbott

Northern Superchargers: Dwayne Bravo, Wahab Riaz

Oval Invincibles: Sunil Narine, Rilee Rossouw

Trent Rockets: Colin Munro

Birmingham Phoenix: Matthew Wade, Kane Richardson

Southern Brave: Quinton de Kock

HER%20FIRST%20PALESTINIAN
%3Cp%3EAuthor%3A%20Saeed%20Teebi%3C%2Fp%3E%0A%3Cp%3EPages%3A%20256%3C%2Fp%3E%0A%3Cp%3EPublisher%3A%C2%A0House%20of%20Anansi%20Press%3C%2Fp%3E%0A
Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

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MATCH INFO

Quarter-finals

Saturday (all times UAE)

England v Australia, 11.15am 
New Zealand v Ireland, 2.15pm

Sunday

Wales v France, 11.15am
Japan v South Africa, 2.15pm

England's all-time record goalscorers:
Wayne Rooney 53
Bobby Charlton 49
Gary Lineker 48
Jimmy Greaves 44
Michael Owen 40
Tom Finney 30
Nat Lofthouse 30
Alan Shearer 30
Viv Woodward 29
Frank Lampard 29