Sheikh Mohammed bin Rashid and Sheikh Mohamed bin Zayed with Bahrain's King Hamad, second left, and Egyptian President Abdel Fattah El Sisi in Abu Dhabi. Photo: Ministry of Presidential Affairs
Sheikh Mohammed bin Rashid and Sheikh Mohamed bin Zayed with Bahrain's King Hamad, second left, and Egyptian President Abdel Fattah El Sisi in Abu Dhabi. Photo: Ministry of Presidential Affairs
Sheikh Mohammed bin Rashid and Sheikh Mohamed bin Zayed with Bahrain's King Hamad, second left, and Egyptian President Abdel Fattah El Sisi in Abu Dhabi. Photo: Ministry of Presidential Affairs
Sheikh Mohammed bin Rashid and Sheikh Mohamed bin Zayed with Bahrain's King Hamad, second left, and Egyptian President Abdel Fattah El Sisi in Abu Dhabi. Photo: Ministry of Presidential Affairs

UAE, Bahraini and Egyptian leaders hold summit in Abu Dhabi


Gillian Duncan
  • English
  • Arabic

A summit involving the UAE’s leaders, Bahrain’s King Hamad and Egyptian President Abdel Fattah El Sisi was held in Abu Dhabi on Wednesday.

The meeting, which involved Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, took place at Qasr Al Watan in Abu Dhabi.

The leaders discussed the terrorist attacks carried out by the Houthi militia against in the UAE.

They agreed that the attacks posed “a serious threat to regional and international security and stability”, and breached “all international laws and norms”.

The leaders called on the international community to take a “unified and firm position” against the militias and other terrorist forces, along with their supporters, state news agency Wam reported.

  • Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, right, receives Egypt's President Abdel Fattah El Sisi, at the Presidential Airport in Abu Dhabi. Photo: Abdulla Al Neyadi for Ministry of Presidential Affairs
    Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, right, receives Egypt's President Abdel Fattah El Sisi, at the Presidential Airport in Abu Dhabi. Photo: Abdulla Al Neyadi for Ministry of Presidential Affairs
  • From left: Sheikh Mohamed bin Zayed, King Hamad of Bahrain and Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai attend a reception held for Mr El Sisi, right, at Al Watan Palace. Photo: Hamad Al Kaabi / Ministry of Presidential Affairs
    From left: Sheikh Mohamed bin Zayed, King Hamad of Bahrain and Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai attend a reception held for Mr El Sisi, right, at Al Watan Palace. Photo: Hamad Al Kaabi / Ministry of Presidential Affairs
  • Sheikh Mohamed bin Zayed and Mr El Sisi inspect a guard of honour. The Egyptian leader arrived in Abu Dhabi for an official visit. Photo: Hamad Al Kaabi / Ministry of Presidential Affairs
    Sheikh Mohamed bin Zayed and Mr El Sisi inspect a guard of honour. The Egyptian leader arrived in Abu Dhabi for an official visit. Photo: Hamad Al Kaabi / Ministry of Presidential Affairs
  • From left: Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, Sheikh Khaled bin Mohamed, Member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Executive Office, Sheikh Hamdan bin Mohamed, Sheikh Mohamed bin Hamad bin Tahnoun, Private Affairs Adviser in the Ministry of Presidential Affairs, Ali bin Hammad Al Shamsi, Deputy Secretary General of the Supreme National Security Council, Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group Chief Executive of Adnoc, Lt Gen Hamad Al Rumaithi, Chief of Staff of the UAE Armed Forces, Khaldoon Al Mubarak, Chief Executive and Managing Director of Mubadala Investment Company and Chairman of the Abu Dhabi Executive Affairs Authority and Maj Gen Faris Khalaf Al Mazrouei, Abu Dhabi Executive Council Member and Commander-in-Chief of Abu Dhabi Police, attend the reception. Photo: Hamad Al Kaabi / Ministry of Presidential Affairs
    From left: Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, Sheikh Khaled bin Mohamed, Member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Executive Office, Sheikh Hamdan bin Mohamed, Sheikh Mohamed bin Hamad bin Tahnoun, Private Affairs Adviser in the Ministry of Presidential Affairs, Ali bin Hammad Al Shamsi, Deputy Secretary General of the Supreme National Security Council, Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group Chief Executive of Adnoc, Lt Gen Hamad Al Rumaithi, Chief of Staff of the UAE Armed Forces, Khaldoon Al Mubarak, Chief Executive and Managing Director of Mubadala Investment Company and Chairman of the Abu Dhabi Executive Affairs Authority and Maj Gen Faris Khalaf Al Mazrouei, Abu Dhabi Executive Council Member and Commander-in-Chief of Abu Dhabi Police, attend the reception. Photo: Hamad Al Kaabi / Ministry of Presidential Affairs
  • Mr El Sisi is welcomed by various sheikhs and senior officials. Photo: Rashed Al Mansoori / Ministry of Presidential Affairs
    Mr El Sisi is welcomed by various sheikhs and senior officials. Photo: Rashed Al Mansoori / Ministry of Presidential Affairs
  • From left: Sheikh Mohamed bin Zayed, King Hamad of Bahrain and Sheikh Mohammed bin Rashid, with Mr El Sisi. Photo: Hamad Al Kaabi / Ministry of Presidential Affairs
    From left: Sheikh Mohamed bin Zayed, King Hamad of Bahrain and Sheikh Mohammed bin Rashid, with Mr El Sisi. Photo: Hamad Al Kaabi / Ministry of Presidential Affairs
  • From left: Sheikh Hazza bin Zayed, Vice Chairman of the Abu Dhabi Executive Council, Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of Interior, Sheikh Tahnoun bin Zayed, UAE National Security Adviser, Sheikh Mansour bin Zayed, Sheikh Abdullah bin Zayed, Sheikh Khaled bin Mohamed, Sheikh Hamdan bin Mohamed, Sheikh Mohamed bin Hamad bin Tahnoun, and Ali Hammad Al Shamsi, watch proceedings. Photo: Hamad Al Kaabi / Ministry of Presidential Affairs
    From left: Sheikh Hazza bin Zayed, Vice Chairman of the Abu Dhabi Executive Council, Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of Interior, Sheikh Tahnoun bin Zayed, UAE National Security Adviser, Sheikh Mansour bin Zayed, Sheikh Abdullah bin Zayed, Sheikh Khaled bin Mohamed, Sheikh Hamdan bin Mohamed, Sheikh Mohamed bin Hamad bin Tahnoun, and Ali Hammad Al Shamsi, watch proceedings. Photo: Hamad Al Kaabi / Ministry of Presidential Affairs
  • During the reception, the national anthems of the UAE and Egypt were played, followed by a 21-gun salute, state news agency Wam reported. Photo: Abdulla Al Neyadi for Ministry of Presidential Affairs
    During the reception, the national anthems of the UAE and Egypt were played, followed by a 21-gun salute, state news agency Wam reported. Photo: Abdulla Al Neyadi for Ministry of Presidential Affairs
  • Sheikh Mohamed shared photos of the occasion online, saying he was happy to host a "dear guest". Photo: Abdulla Al Neyadi for Ministry of Presidential Affairs
    Sheikh Mohamed shared photos of the occasion online, saying he was happy to host a "dear guest". Photo: Abdulla Al Neyadi for Ministry of Presidential Affairs

King Hamad and Mr El Sisi affirmed their countries' solidarity with the UAE and their support for the steps the Emirates is taking to ensure the preservation of its security and territorial integrity.

Issues on the agenda included the latest regional and international developments and the challenges facing the Arab region.

Mr El Sisi arrived in Abu Dhabi on an official visit on Wednesday. He was accorded an official reception at Al Watan Palace where the national anthems of the UAE and Egypt were played, followed by a 21-gun salute.

The specs: 2019 Infiniti QX50

Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)

Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

'My Son'

Director: Christian Carion

Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis

Rating: 2/5

'Texas Chainsaw Massacre'

Rating: 1 out of 4

Running time: 81 minutes

Director: David Blue Garcia

Starring: Sarah Yarkin, Elsie Fisher, Mark Burnham

'Operation Mincemeat' 

Director: John Madden 

 

Cast: Colin Firth, Matthew Macfayden, Kelly Macdonald and Penelope Wilton

 

Rating: 4/5

 

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.”

Mountain%20Boy
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Zainab%20Shaheen%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Naser%20Al%20Messabi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3C%2Fstrong%3E%3A%203%2F5%3C%2Fp%3E%0A
PROFILE OF HALAN

Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

UAE currency: the story behind the money in your pockets
Dengue%20fever%20symptoms
%3Cul%3E%0A%3Cli%3EHigh%20fever%3C%2Fli%3E%0A%3Cli%3EIntense%20pain%20behind%20your%20eyes%3C%2Fli%3E%0A%3Cli%3ESevere%20headache%3C%2Fli%3E%0A%3Cli%3EMuscle%20and%20joint%20pains%3C%2Fli%3E%0A%3Cli%3ENausea%3C%2Fli%3E%0A%3Cli%3EVomiting%3C%2Fli%3E%0A%3Cli%3ESwollen%20glands%3C%2Fli%3E%0A%3Cli%3ERash%3C%2Fli%3E%0A%3C%2Ful%3E%0A%3Cp%3EIf%20symptoms%20occur%2C%20they%20usually%20last%20for%20two-seven%20days%3C%2Fp%3E%0A
Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.0-litre%20twin-turbo%20V6%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E10-speed%20auto%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E400bhp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E563Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh320%2C000%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
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

Previous men's records
  • 2:01:39: Eliud Kipchoge (KEN) on 16/9/19 in Berlin
  • 2:02:57: Dennis Kimetto (KEN) on 28/09/2014 in Berlin
  • 2:03:23: Wilson Kipsang (KEN) on 29/09/2013 in Berlin
  • 2:03:38: Patrick Makau (KEN) on 25/09/2011 in Berlin
  • 2:03:59: Haile Gebreselassie (ETH) on 28/09/2008 in Berlin
  • 2:04:26: Haile Gebreselassie (ETH) on 30/09/2007 in Berlin
  • 2:04:55: Paul Tergat (KEN) on 28/09/2003 in Berlin
  • 2:05:38: Khalid Khannouchi (USA) 14/04/2002 in London
  • 2:05:42: Khalid Khannouchi (USA) 24/10/1999 in Chicago
  • 2:06:05: Ronaldo da Costa (BRA) 20/09/1998 in Berlin
Fifa%20World%20Cup%20Qatar%202022%20
%3Cp%3E%3Cstrong%3EFirst%20match%3A%20%3C%2Fstrong%3ENovember%2020%0D%3Cbr%3E%3Cstrong%3EFinal%2016%20round%3A%20%3C%2Fstrong%3EDecember%203%20to%206%0D%3Cbr%3E%3Cstrong%3EQuarter-finals%3A%20%3C%2Fstrong%3EDecember%209%20and%2010%0D%3Cbr%3E%3Cstrong%3ESemi-finals%3A%20%3C%2Fstrong%3EDecember%2013%20and%2014%0D%3Cbr%3E%3Cstrong%3EFinal%3A%20%3C%2Fstrong%3EDecember%2018%3C%2Fp%3E%0A
The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

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
The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

UAE currency: the story behind the money in your pockets
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.

EMERGENCY PHONE NUMBERS

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

The specs: 2019 Cadillac XT4

Price, base: Dh145,000

Engine: 2.0-litre turbocharged in-line four-cylinder engine

Transmission: Nine-speed automatic

Power: 237hp @ 5,000rpm

Torque: 350Nm @ 1,500rpm

Fuel economy, combined: 8.7L / 100km

Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

Updated: January 27, 2022, 6:41 AM