• Nasser Al Nowais, chairman of the Rotana Hotel Group, with the late President, Sheikh Khalifa. 'He cared about the well-being of people not only in the UAE, but all over the world,' says Mr Al Nowais. Photo: Nasser Al Nowais
    Nasser Al Nowais, chairman of the Rotana Hotel Group, with the late President, Sheikh Khalifa. 'He cared about the well-being of people not only in the UAE, but all over the world,' says Mr Al Nowais. Photo: Nasser Al Nowais
  • Sheikh Khalifa in Dubai in 1971. Magnum Photos
    Sheikh Khalifa in Dubai in 1971. Magnum Photos
  • An undated photo of Sheikh Khalifa. Wam
    An undated photo of Sheikh Khalifa. Wam
  • A young Sheikh Khalifa (seated). Wam
    A young Sheikh Khalifa (seated). Wam
  • UAE Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, and his son Sheikh Khalifa watch a military parade in 1978. Photo: Al Ittihad
    UAE Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, and his son Sheikh Khalifa watch a military parade in 1978. Photo: Al Ittihad
  • Sheikh Khalifa. Wam
    Sheikh Khalifa. Wam
  • Sheikh Zayed, centre, and Sheikh Khalifa seated to his right. Wam
    Sheikh Zayed, centre, and Sheikh Khalifa seated to his right. Wam
  • Sheikh Zayed and Sheikh Khalifa. Wam
    Sheikh Zayed and Sheikh Khalifa. Wam
  • Sheikh Zayed and Sheikh Khalifa. Photo: Al Ittihad
    Sheikh Zayed and Sheikh Khalifa. Photo: Al Ittihad
  • Sheikh Zayed inspects plans for the Sheikh Zayed Grand Mosque with his sons Sheikh Khalifa and Sheikh Sultan. Photo: Al Ittihad
    Sheikh Zayed inspects plans for the Sheikh Zayed Grand Mosque with his sons Sheikh Khalifa and Sheikh Sultan. Photo: Al Ittihad
  • Sheikh Khalifa, left, greets Jordan's King Abdullah in Abu Dhabi on May 16, 2000. Wam
    Sheikh Khalifa, left, greets Jordan's King Abdullah in Abu Dhabi on May 16, 2000. Wam
  • Sheikh Khalifa and Sheikh Zayed. Wam
    Sheikh Khalifa and Sheikh Zayed. Wam
  • Sheikh Khalifa performs Umrah. Wam
    Sheikh Khalifa performs Umrah. Wam
  • Sheikh Khalifa and Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. Wam
    Sheikh Khalifa and Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. Wam
  • An image of Sheikh Khalifa is projected on to a building in Abu Dhabi. Antonie Robertson / The National
    An image of Sheikh Khalifa is projected on to a building in Abu Dhabi. Antonie Robertson / The National
  • President, Sheikh Mohamed, left, with Sheikh Khalifa in 2009. Philip Cheung / The National
    President, Sheikh Mohamed, left, with Sheikh Khalifa in 2009. Philip Cheung / The National
  • Sheikh Khalifa watches the first Abu Dhabi Grand Prix at Yas Marina Circuit on November 1, 2009, with Nursultan Nazarbayev, president of Kazakhstan, and Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman. Ryan Carter / The National
    Sheikh Khalifa watches the first Abu Dhabi Grand Prix at Yas Marina Circuit on November 1, 2009, with Nursultan Nazarbayev, president of Kazakhstan, and Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman. Ryan Carter / The National
  • Sheikh Khalifa attends National Day celebrations at Zayed Sports Stadium on December 2, 2011. Philip Cheung / Crown Prince Court
    Sheikh Khalifa attends National Day celebrations at Zayed Sports Stadium on December 2, 2011. Philip Cheung / Crown Prince Court
  • The UAE football team meet with Sheikh Khalifa on Saturday, January 19, 2012, after their 2-1 victory over Iraq in the Gulf Cup final in Bahrain. Wam
    The UAE football team meet with Sheikh Khalifa on Saturday, January 19, 2012, after their 2-1 victory over Iraq in the Gulf Cup final in Bahrain. Wam
  • Britain's Queen Elizabeth and Prince Philip with Sheikh Khalifa at Windsor Castle, England, on April 30, 2013. Reuters
    Britain's Queen Elizabeth and Prince Philip with Sheikh Khalifa at Windsor Castle, England, on April 30, 2013. Reuters
  • Sheikh Khalifa. Wam
    Sheikh Khalifa. Wam
  • Sheikh Khalifa with Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman, Sheikh Hamad bin Mohammed Al Sharqi, Ruler of Fujairah, Sheikh Saud bin Rashid Al Mualla, Ruler of Umm Al Quwain, and Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah. Wam
    Sheikh Khalifa with Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman, Sheikh Hamad bin Mohammed Al Sharqi, Ruler of Fujairah, Sheikh Saud bin Rashid Al Mualla, Ruler of Umm Al Quwain, and Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah. Wam
  • Sheikh Khalifa at Al Bateen Palace, Abu Dhabi. Wam
    Sheikh Khalifa at Al Bateen Palace, Abu Dhabi. Wam

Sheikha Fatima receives condolences from world leaders’ wives over Sheikh Khalifa's death


Gillian Duncan
  • English
  • Arabic

Sheikha Fatima, the Mother of the Nation, has received condolences on the death of Sheikh Khalifa from female members of governments overseas and world leaders’ wives.

Queen Rania of Jordan, the first lady of Egypt, Entissar Amer Al Sisi, and Cindy Crowe, Governor-General of New Zealand, all shared their sympathies.

Sheikha Fatima also received condolences from a delegation of the Bahraini Royal family.

The delegation conveyed the sympathies of Princess Sabeeka bint Ibrahim Al Khalifa, wife of King Hamad and President of the Supreme Council for Women.

The delegation included Sheikha Thajba bint Salman bin Hamad Al Khalifa, wife of Sheikh Salman bin Abdullah Al Khalifa, and Sheikha Mariam bint Salman bin Hamad Al Khalifa, wife of Sheikh Khalid bin Abdullah Al Khalifa.

Sheikha Fatima, who is also the Chairwoman of the General Women's Union, Chairwoman of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation, expressed her thanks for their kind support.

Sheikha Shamsa bint Suhail, Sheikh Khalifa’s widow, also received condolences on his death, from Sayyida Ahad bint Abdullah, the wife of Oman's Sultan Haitham and Sheikha Amthal Al Ahmad Al Sabah, the sister of Sheikh Nawaf, Kuwait's Emir.

Queen Rania, Mrs El Sisi and Linda Hurley, wife of Governor-General of Australia David Hurley, also offered their condolences to Sheikha Shamsa.

She also received condolences from the Bahraini royal delegation.

She also received the sympathies of various sheikhas and female ministers in the UAE, who shared their condolences with Sheikh Khalifa’s family and the people of the UAE.

They also wished UAE and its people continued progress and prosperity.

Sheikha Shamsa thanked them for their thoughts, wishing them continued good health and wellness.

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

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.”

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yallacompare profile

Date of launch: 2014

Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer

Based: Media City, Dubai 

Sector: Financial services

Size: 120 employees

Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)

Updated: May 18, 2022, 9:52 AM