Sheikh Khalifa who served as the UAE's second president from 2004 until his death last Friday, will be remembered for his vast contributions to the growth and empowerment of the country.
These will define the legacy of his leadership and can be best summed up in some of his best-known quotes.
Citizens lives
Understanding that UAE's citizens were the heart of the Emirates, Sheikh Khalifa said: “We shall spare no effort to realise the hopes and ambitions of our people, and we call upon everybody to work hard to develop our country.”
Local authorities fulfil this promise with the majority of citizens having stable jobs.
Young people were also recognised as being an integral part of the country's future, but they would have to work hard to bring growth and prosperity.
“The youth are the true wealth of the nation,” he said.
“Nations do not grow in stature by wishes, but by hard-won achievements.”
Foreign policy
Sheikh Khalifa believed it was important to be flexible in order to keep pace with the rest of the world. A recent example of putting this belief into practice occurred at the start of 2022, when the UAE aligned its working week with the western world.
“We don't live on an isolated island so it is only natural that, in many instances, we adapt our aspirations, ambitions and undertakings to various changes at the regional and international levels,” he said.
Equal rights
The UAE has come a long way in the advancement of equal rights. It is ranked as a leading country in gender equality in the region, according to the World Economic Forum’s 2021 Global Gender Gap report. By implementing a number of public and private sector initiatives, women are playing a more visible and stronger role in both government and business.
“Women are half of society, and societies that fail to employ that complete half are doomed to failure.”
“Any developmental undertaking that excludes women shall be regarded as development manque,” he said.
“The UAE has transcended segregation between men and women. The major standards of evaluation are merit and competence, capability and excellence.”
Economy
Sheikh Khalifa was often quoted on his plans for the future of the UAE economy, with visions of the Emirates becoming a major player on the world stage.
“We are intending to transform the UAE into a regional hub for the global economy,” he said.
Sheikh Khalifa also saw the private and public sectors as partners in the development of citizens' lives.
“The private sector is a fundamental partner of the state in development plans that seek both to improve the standard of living of the average citizen and to face up to potential challenges.”
Education
In the UAE, Emirati students can attend public universities free of charge, and three Emirati universities are among the top 500 universities globally.
Sheikh Khalifa expressed his support of the university experience, saying it was a period of “enlightenment” for students.
“University is not just a field of pure academic study; rather, it is a centre of glorious intellectual, civilisational and cultural enlightenment.”
Environment
In 2023, the UAE is scheduled to host environmental conference COP 28. World leaders and decision makers will convene to discuss tackling climate change but also to witness the UAE's commitment to protection and conservation, something Sheikh Khalifa reminded the public of often.
“Protection of the environment and achievement of sustainable development in the UAE is a national duty; it has its own institutional structures, integrated legislature and advanced systems,” he said.
“Protection and conservation of the environment remain part of the strategic objectives of the UAE.”
Respect for humanity
Finally, Sheikh Khalifa's respect for the human life was evident from his powerful words on war and destruction. The UAE has contributed large sums in humanitarian donations to countries struggling with war and natural disasters. It was also a major player during the Covid-19 pandemic in helping distribute vaccines across the globe.
“Wars of all types and forms are attempts at suicide,” he said.
“The spirit of Islam can never lead one to destruction.”
“History does not make heroes; rather, heroes are the true makers of history.”
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A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
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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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
The National in Davos
We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.
THE BIO
Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.
Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.
Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.
Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
U19 World Cup in South Africa
Group A: India, Japan, New Zealand, Sri Lanka
Group B: Australia, England, Nigeria, West Indies
Group C: Bangladesh, Pakistan, Scotland, Zimbabwe
Group D: Afghanistan, Canada, South Africa, UAE
UAE fixtures
Saturday, January 18, v Canada
Wednesday, January 22, v Afghanistan
Saturday, January 25, v South Africa
UAE squad
Aryan Lakra (captain), Vriitya Aravind, Deshan Chethyia, Mohammed Farazuddin, Jonathan Figy, Osama Hassan, Karthik Meiyappan, Rishabh Mukherjee, Ali Naseer, Wasi Shah, Alishan Sharafu, Sanchit Sharma, Kai Smith, Akasha Tahir, Ansh Tandon
