• Pallbearers carry the body of President Sheikh Khalifa to be laid to rest. All photos: Ministry of Presidential Affairs
    Pallbearers carry the body of President Sheikh Khalifa to be laid to rest. All photos: Ministry of Presidential Affairs
  • Sheikh Mohamed bin Zayed, Ruler of Abu Dhabi, and Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, carry the body of Sheikh Khalifa. Hamad Al Kaabi / Ministry of Presidential Affairs
    Sheikh Mohamed bin Zayed, Ruler of Abu Dhabi, and Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, carry the body of Sheikh Khalifa. Hamad Al Kaabi / Ministry of Presidential Affairs
  • Sheikh Mohamed bin Zayed leads prayers for the late President Khalifa. Hamad Al Kaabi / Ministry of Presidential Affairs
    Sheikh Mohamed bin Zayed leads prayers for the late President Khalifa. Hamad Al Kaabi / Ministry of Presidential Affairs
  • Sheikh Mohamed bin Zayed attends the burial of Sheikh Khalifa bin Zayed at Al Bateen cemetery.
    Sheikh Mohamed bin Zayed attends the burial of Sheikh Khalifa bin Zayed at Al Bateen cemetery.
  • Sheikh Khalifa is laid to rest
    Sheikh Khalifa is laid to rest
  • Sheikh Mansour prays at Al Bateen cemetery
    Sheikh Mansour prays at Al Bateen cemetery
  • Sheikh Dr Sultan bin Khalifa Al Nahyan, left, adviser to the UAE President, attends the burial of Sheikh Khalifa bin Zayed at Al Bateen cemetery.
    Sheikh Dr Sultan bin Khalifa Al Nahyan, left, adviser to the UAE President, attends the burial of Sheikh Khalifa bin Zayed at Al Bateen cemetery.
  • Sheikh Khalifa bin Tahnoon, right, and Sheikh Hamdan bin Zayed at the burial.
    Sheikh Khalifa bin Tahnoon, right, and Sheikh Hamdan bin Zayed at the burial.
  • Ruling family members and senior officials attend funeral prayers
    Ruling family members and senior officials attend funeral prayers
  • Sheikh Zayed bin Hamdan bin Zayed, third left; Sheikh Hamdan bin Mohamed bin Zayed, fourth left; and Sheikh Zayed bin Mohamed attend funeral prayers for Sheikh Khalifa at Sheikh Sultan bin Zayed The First mosque.
    Sheikh Zayed bin Hamdan bin Zayed, third left; Sheikh Hamdan bin Mohamed bin Zayed, fourth left; and Sheikh Zayed bin Mohamed attend funeral prayers for Sheikh Khalifa at Sheikh Sultan bin Zayed The First mosque.
  • From right: Sheikh Saeed bin Saif, Sheikh Nahyan bin Mubarak, Sheikh Tahnoon bin Zayed, Sheikh Hamdan bin Zayed and Sheikh Saif bin Mohamed attend funeral prayers for Sheikh Khalifa bin Zayed at Sheikh Sultan bin Zayed The First mosque.
    From right: Sheikh Saeed bin Saif, Sheikh Nahyan bin Mubarak, Sheikh Tahnoon bin Zayed, Sheikh Hamdan bin Zayed and Sheikh Saif bin Mohamed attend funeral prayers for Sheikh Khalifa bin Zayed at Sheikh Sultan bin Zayed The First mosque.

UAE President Sheikh Khalifa laid to rest


Rory Reynolds
  • English
  • Arabic

Sheikh Khalifa bin Zayed was laid to rest on Friday night following nationwide prayers.

Sheikh Mohamed bin Zayed, Ruler of Abu Dhabi, led senior leaders in prayer at a cemetery in Al Bateen.

A military honour guard in dress uniform carried the president's body before it was handed to his family for burial.

Sheikh Mohamed and Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, carried Sheikh Khalifa's body to his rest.

Images showed dozens of ruling family members and senior officials in prayer by the graveside.

Worshippers in mosques nationwide paid their respects to Sheikh Khalifa, who died at age 73.

At Sheikh Zayed Grand Mosque, the country's largest, thousands turned out.

On Saturday, Sheikh Mohamed bin Zayed will receive condolences from the rulers of the Emirates and senior officials at Mushrif Palace.

Earlier, a three-day period of mourning was announced. Government offices will close and public and private sector workers will return to work on Tuesday. Schools will remain closed until Tuesday.

Flags fly at half-staff across UAE: in pictures

  • The UAE flag flies at half-mast in Abu Dhabi, following the death of President Sheikh Khalifa. AFP
    The UAE flag flies at half-mast in Abu Dhabi, following the death of President Sheikh Khalifa. AFP
  • President Sheikh Khalifa died on May 13. He was 73. EPA
    President Sheikh Khalifa died on May 13. He was 73. EPA
  • Forty days of official mourning have been announced. EPA
    Forty days of official mourning have been announced. EPA
  • People pass by the UAE national flag, flying at half-staff, following the announcement of President Sheikh Khalifa's death. AP Photo
    People pass by the UAE national flag, flying at half-staff, following the announcement of President Sheikh Khalifa's death. AP Photo
  • The UAE national flag flies at half-staff in Dubai. AP Photo
    The UAE national flag flies at half-staff in Dubai. AP Photo
  • The UAE flag flies at half-staff in Abu Dhabi, following the death of the President, Sheikh Khalifa. Victor Besa / The National
    The UAE flag flies at half-staff in Abu Dhabi, following the death of the President, Sheikh Khalifa. Victor Besa / The National
  • The national flag flies at half-staff at Union House, Dubai – where the declaration establishing the UAE was made – after the death of the President, Sheikh Khalifa. Pawan Singh / The National
    The national flag flies at half-staff at Union House, Dubai – where the declaration establishing the UAE was made – after the death of the President, Sheikh Khalifa. Pawan Singh / The National
  • Flags at half-staff outside the ADNOC offices at the Corniche, Abu Dhabi, as the UAE mourns the death of the President, Sheikh Khalifa. Khushnum Bhandari / The National
    Flags at half-staff outside the ADNOC offices at the Corniche, Abu Dhabi, as the UAE mourns the death of the President, Sheikh Khalifa. Khushnum Bhandari / The National
  • The UAE flag flies at half-staff, with the Abu Dhabi skyline in the background, after the death of the President, Sheikh Khalifa. Khushnum Bhandari / The National
    The UAE flag flies at half-staff, with the Abu Dhabi skyline in the background, after the death of the President, Sheikh Khalifa. Khushnum Bhandari / The National
  • As the country mourns the death of President Sheikh Khalifa, the UAE flag flies at half-staff outside Union House in Dubai. This is where the country's flag was hoisted for the first time in 1971. Pawan Singh / The National
    As the country mourns the death of President Sheikh Khalifa, the UAE flag flies at half-staff outside Union House in Dubai. This is where the country's flag was hoisted for the first time in 1971. Pawan Singh / The National
  • The UAE will enter 40 days of mourning with flags at half-staff, and government ministries and federal, local and private sector entities closing for three days. Khushnum Bhandari / The National
    The UAE will enter 40 days of mourning with flags at half-staff, and government ministries and federal, local and private sector entities closing for three days. Khushnum Bhandari / The National
  • Flags fly at half-staff at the entrance to the Presidential Palace of Qasr Al Watan in Abu Dhabi after the death of President Sheikh Khalifa. Khushnum Bhandari / The National
    Flags fly at half-staff at the entrance to the Presidential Palace of Qasr Al Watan in Abu Dhabi after the death of President Sheikh Khalifa. Khushnum Bhandari / The National
  • Flags fly at half-staff at Emirates Palace along the Corniche in Abu Dhabi after the death of President Sheikh Khalifa. Khushnum Bhandari / The National
    Flags fly at half-staff at Emirates Palace along the Corniche in Abu Dhabi after the death of President Sheikh Khalifa. Khushnum Bhandari / The National
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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.”

Key recommendations
  • Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
  • Greater use of curfews and exclusion zones to deliver tougher supervision than ever on criminals.
  • Explore wider powers for judges to punish offenders by blocking them from attending football matches, banning them from driving or travelling abroad through an expansion of ‘ancillary orders’.
  • More Intensive Supervision Courts to tackle the root causes of crime such as alcohol and drug abuse – forcing repeat offenders to take part in tough treatment programmes or face prison.
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Updated: May 16, 2022, 10:30 AM