Sheikh Mohamed bin Zayed discusses the need for co-operation between the UAE and Syria with President Bashar Al Assad. Wam
Sheikh Mohamed bin Zayed discusses the need for co-operation between the UAE and Syria with President Bashar Al Assad. Wam
Sheikh Mohamed bin Zayed discusses the need for co-operation between the UAE and Syria with President Bashar Al Assad. Wam
Sheikh Mohamed bin Zayed discusses the need for co-operation between the UAE and Syria with President Bashar Al Assad. Wam

UAE

UAE leaders receive Syrian President Bashar Al Assad

Two countries discussed provision of political and humanitarian support for Syria and its people

The National

March 18, 2022

  • English
  • Arabic

UAE leaders received Syrian President Bashar Al Assad on Friday.

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, discussed the latest developments in Syria with its president.

The visit comes as the two countries continue consultation and co-ordination on various areas of interest.

Mr Al Assad briefed Sheikh Mohamed on the latest developments in Syria and Sheikh Mohamed expressed his wishes that the president's visit will pave the way for goodness, peace and stability to prevail in the country and the region.

During the meeting, the two leaders discussed a number of issues and emphasised preserving the territorial integrity of Syria and the withdrawal of foreign forces from the country.

They also discussed the provision of political and humanitarian support for Syria and its people in order to reach a peaceful solution to all challenges.

Sheikh Mohamed stressed that Syria is a fundamental pillar of Arab security and the UAE is keen to strengthen co-operation with Damascus to achieve stability and development to the benefit of the Syrian people.

The leaders parted ways at Al Bateen Airport, where Mr Al Assad boarded a plane back to Syria.

Sheikh Mohammed bin Rashid met Mr Al Assad, at his rest house in Al Marmoom in Dubai.

Sheikh Mohammed wished the people of Syria security, peace, stability and prosperity.

The meeting focused on overall relations between the two countries and ways to grow them further.

They also reviewed the current situation in Syria, as well as various developments in the Arab world and world at large.

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, meets with Syrian President Bashar Al Assad. Rashed Al Mansoori / Ministry of Presidential Affairs
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, meets with Syrian President Bashar Al Assad. Rashed Al Mansoori / Ministry of Presidential Affairs
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai with Mr Al Assad in Dubai on Friday. Wam
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai with Mr Al Assad in Dubai on Friday. Wam
Mr Al Assad briefed Sheikh Mohamed on the latest developments in Syria. Rashed Al Mansoori / Ministry of Presidential Affairs.
Mr Al Assad briefed Sheikh Mohamed on the latest developments in Syria. Rashed Al Mansoori / Ministry of Presidential Affairs.
Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, meets Mr Al Assad in Abu Dhabi. Hassan Al Menhali / Ministry of Presidential Affairs
Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, meets Mr Al Assad in Abu Dhabi. Hassan Al Menhali / Ministry of Presidential Affairs
Members of the Syrian delegation attend a meeting with Mr Assad at Abu Dhabi's Al Shati Palace. Rashed Al Mansoori / Ministry of Presidential Affairs
Members of the Syrian delegation attend a meeting with Mr Assad at Abu Dhabi's Al Shati Palace. Rashed Al Mansoori / Ministry of Presidential Affairs
Sheikh Mansour and Mr Assad. Hassan Al Menhali / Ministry of Presidential Affairs
Sheikh Mansour and Mr Assad. Hassan Al Menhali / Ministry of Presidential Affairs
The two leaders discussed a number of issues and emphasised preserving the territorial integrity of Syria and the withdrawal of foreign forces from the country. Rashed Al Mansoori / Ministry of Presidential Affairs
The two leaders discussed a number of issues and emphasised preserving the territorial integrity of Syria and the withdrawal of foreign forces from the country. Rashed Al Mansoori / Ministry of Presidential Affairs

Sheikh Mohammed said the UAE was keen to co-operate with Syria in various fields and use opportunities that further the interests of both countries.

The meeting was attended by: Sheikh Hamdan bin Mohammed, Crown Prince of Dubai; Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance; and Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs. A number of ministries and officials also attended the meeting.

More from Rashmee Roshan Lall
The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

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MATCH INFO

Who: UAE v USA
What: first T20 international
When: Friday, 2pm
Where: ICC Academy in Dubai

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%3Cp%3EFirst%20ODI%20-%20Sunday%2C%20June%204%20%0D%3Cbr%3ESecond%20ODI%20-%20Tuesday%2C%20June%206%20%0D%3Cbr%3EThird%20ODI%20-%20Friday%2C%20June%209%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EMatches%20at%20Sharjah%20Cricket%20Stadium.%20All%20games%20start%20at%204.30pm%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3EUAE%20squad%3C%2Fstrong%3E%0D%3Cbr%3EMuhammad%20Waseem%20(captain)%2C%20Aayan%20Khan%2C%20Adithya%20Shetty%2C%20Ali%20Naseer%2C%20Ansh%20Tandon%2C%20Aryansh%20Sharma%2C%20Asif%20Khan%2C%20Basil%20Hameed%2C%20Ethan%20D%E2%80%99Souza%2C%20Fahad%20Nawaz%2C%20Jonathan%20Figy%2C%20Junaid%20Siddique%2C%20Karthik%20Meiyappan%2C%20Lovepreet%20Singh%2C%20Matiullah%2C%20Mohammed%20Faraazuddin%2C%20Muhammad%20Jawadullah%2C%20Rameez%20Shahzad%2C%20Rohan%20Mustafa%2C%20Sanchit%20Sharma%2C%20Vriitya%20Aravind%2C%20Zahoor%20Khan%0D%3C%2Fp%3E%0A

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.”

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- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- Margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars

- Energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- Infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes

- Many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts

Updated: March 21, 2022, 9:45 AM
Sheikh Mohamed bin Zayed