President Sheikh Mohamed performed Eid Al Adha prayer on Saturday morning alongside fellow worshippers at the Sheikh Zayed Grand Mosque in Abu Dhabi.
During the sermon, preacher Abdulrahman Al Shamsi highlighted the religious significance of Eid Al Adha and the importance of taking pride in one's identity and heritage, while also keeping alive the values of compassion and coexistence.
He wished the UAE leadership and people good health, and the country further progress and continued stability, reported state news agency Wam.
Following the prayers, Sheikh Mohamed exchanged greetings with worshippers.
He then visited Sheikh Zayed bin Sultan's tomb.
Ahead of Eid Al Adha, Sheikh Mohamed congratulated Muslims with a special message online.
The ruler asked that God bring them peace and harmony.
In Dubai, Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, performed Eid Al Adha prayers at Zabeel Grand Mosque. He was accompanied by Sheikh Maktoum bin Mohammed, Deputy Prime Minister, Minister of Finance and Deputy Ruler of Dubai.
Also performing prayers with Sheikh Mohamed on Saturday were: Sheikh Saeed bin Zayed, Abu Dhabi Ruler’s Representative; Sheikh Nahyan bin Zayed, chairman of the board of Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation; Lt General Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of the Interior; Sheikh Tahnoun bin Zayed, national security adviser; Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs; Sheikh Hamed bin Zayed, member of the Abu Dhabi Executive Council; Sheikh Abdullah bin Zayed, Minister of the Foreign Affairs and International Co-operation; Sheikh Khalid bin Zayed, chairman of the board of the Zayed Higher Organisation for People of Determination; Dr Sheikh Sultan bin Khalifa, adviser to the UAE President; Sheikh Khaled bin Mohamed bin Zayed, deputy national security adviser, member of Abu Dhabi Executive Council and chairman of Abu Dhabi Executive Office; Sheikh Theyab bin Mohamed bin Zayed, chairman of Crown Prince Court; Sheikh Zayed bin Mohamed bin Zayed; and a number of sheikhs.
Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, performed Eid Al Adha prayers at Sharjah Mosque.
He was accompanied by Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah, along with a number of sheikhs, senior officials, dignitaries, citizens and residents.
Sheikh Dr Sultan also exchanged Eid greetings with worshippers.
Sheikh Humaid bin Rashid, Ruler of Ajman, performed Eid Al Adha prayers at the Sheikh Rashid bin Humaid Mosque.
Performing prayers alongside him were Sheikh Ammar bin Humaid, Crown Prince of Ajman, and a number of sheikhs, senior officials, dignitaries, citizens and residents.
After the prayers, the Ajman ruler exchanged Eid greetings with worshippers.
Sheikh Rashid bin Saud bin Rashid Al Mu'alla, Crown Prince of Umm Al Quwain, offered Eid Al Adha prayers at the Ahmed bin Rashid Al Mualla Mosque.
A number of sheikhs, senior officials, dignitaries and members of Muslim communities also offered prayers alongside the crown prince.
Sheikh Rashid also exchanged Eid greetings with sheikhs, senior officials and worshippers.
Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, and Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah, performed Eid Al Adha prayers at the Sheikh Khalifa bin Zayed Grand Mosque in Al Riffa.
A number of sheikhs, senior officials, dignitaries, citizens and residents also performed prayers.
A list of the animal rescue organisations in the UAE
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Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
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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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UAE currency: the story behind the money in your pockets
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