Minister of Culture and Youth Noura Al Kaabi says the cultural relationship between the UAE and France is a top priority. Chris Whiteoak / The National
Minister of Culture and Youth Noura Al Kaabi says the cultural relationship between the UAE and France is a top priority. Chris Whiteoak / The National
Minister of Culture and Youth Noura Al Kaabi says the cultural relationship between the UAE and France is a top priority. Chris Whiteoak / The National
Minister of Culture and Youth Noura Al Kaabi says the cultural relationship between the UAE and France is a top priority. Chris Whiteoak / The National

Noura Al Kaabi hails French ties: 'I would like them to know how different the UAE is'


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Minister of Culture and Youth Noura Al Kaabi says she was overjoyed when President Sheikh Mohamed spoke about the strong cultural links shared by the UAE and France during his visit to Paris this week.

The cultural relationship between the UAE and France is a top priority, she told The National.

Ms Al Kaabi, who was part of the UAE delegation that went to France, said she was immensely proud when she heard the words of Sheikh Mohamed at a banquet on Monday hosted by French President Emmanuel Macron at the Palace of Versailles.

"It is true that we have political and economic ties, but our cultural co-operation represents our utmost collaboration and this mirrors the quality of this strategic partnership," Sheikh Mohamed said.

The President's words bear testimony to the cultural links between the UAE and France, Ms Al Kaabi said.

“The French Minister of Culture and I looked at each other and smiled the moment our President said that," she said.

"That sentence reminds us that we have a very important job to do and make sure that we don't lose that [trust and faith].”

Ms Al Kaabi said she hopes that countries such as France get to know the UAE and its people better and understand that the country has much more to offer than its five-star hotels and high-rise buildings.

“I would like them to know how different the UAE is," she said.

"Emiratis and people from more than 200 nationalities who call the UAE home have uniquely different sets of values.

"The different nationalities, the projects, the leadership, our beautiful federal system, make our model very different, one that we should appreciate.

“We signed the Abrahamic Accords, we're a country that is interested in dialogue. So I hope people from other countries understand our values, what we like to eat and how we dress, and things that are beyond the glitz and glamour that the UAE is known for.

“The social fabric is something that is really important to consider. And, of course, you know, we have lots of other things to share, whether it's our students who are making us proud, the individuals who are representing us at entities like UNESCO and our movements.

"The UAE has seven emirates and each has its own cultural offerings, and we want to extend that.”

President Sheikh Mohamed visits Paris - in pictures

  • The President, Sheikh Mohamed, leaves France after his official state visit. Photo: Presidential Court
    The President, Sheikh Mohamed, leaves France after his official state visit. Photo: Presidential Court
  • Sheikh Mohamed stands for the national anthem. Catherine Colonna, French Minister for Europe and Foreign Affairs, is also pictured. Photo: Presidential Court
    Sheikh Mohamed stands for the national anthem. Catherine Colonna, French Minister for Europe and Foreign Affairs, is also pictured. Photo: Presidential Court
  • Sheikh Mohamed stands for the national anthems. Photo: Presidential Court
    Sheikh Mohamed stands for the national anthems. Photo: Presidential Court
  • Sheikh Mohamed bids farewell to Ms Colonna. Photo: Presidential Court
    Sheikh Mohamed bids farewell to Ms Colonna. Photo: Presidential Court
  • Members of the French honour guard play the national anthem before Sheikh Mohamed's departure. Photo: Presidential Court
    Members of the French honour guard play the national anthem before Sheikh Mohamed's departure. Photo: Presidential Court
  • President Sheikh Mohamed speaks to Emirati students and doctors studying in France. Seen with Shamma bint Suhail Al Al Mazrouei, UAE Minister of State for Youth, second right, and Sheikh Hazza bin Zayed, vice chairman of the Abu Dhabi Executive Council, fourth right. Photo: Presidential Court
    President Sheikh Mohamed speaks to Emirati students and doctors studying in France. Seen with Shamma bint Suhail Al Al Mazrouei, UAE Minister of State for Youth, second right, and Sheikh Hazza bin Zayed, vice chairman of the Abu Dhabi Executive Council, fourth right. Photo: Presidential Court
  • President Sheikh Mohamed with Emirati students and doctors, along with Shamma bint Suhail Al Al Mazrouei, Sheikh Hazza bin Zayed and Sheikh Mansour bin Zayed, UAE Deputy Prime Minister and Minister of the Presidential Court, fourth from left. Photo: Presidential Court
    President Sheikh Mohamed with Emirati students and doctors, along with Shamma bint Suhail Al Al Mazrouei, Sheikh Hazza bin Zayed and Sheikh Mansour bin Zayed, UAE Deputy Prime Minister and Minister of the Presidential Court, fourth from left. Photo: Presidential Court
  • President Sheikh Mohamed meets students and doctors. Photo: Presidential Court
    President Sheikh Mohamed meets students and doctors. Photo: Presidential Court
  • President Sheikh Mohamed greets Emirati students and doctors who are studying in France. Photo: Presidential Court
    President Sheikh Mohamed greets Emirati students and doctors who are studying in France. Photo: Presidential Court
  • Sheikh Mohamed, with Sheikh Zayed bin Mohamed, speaks to Catherine Colonna. Photo: Presidential Court
    Sheikh Mohamed, with Sheikh Zayed bin Mohamed, speaks to Catherine Colonna. Photo: Presidential Court
  • Sheikh Mohamed arrives at Matignon Hotel in Paris to meet Prime Minister Elisabeth Borne. Chris Whiteoak / The National
    Sheikh Mohamed arrives at Matignon Hotel in Paris to meet Prime Minister Elisabeth Borne. Chris Whiteoak / The National
  • Sheikh Mohamed arrives at the Matignon to meet Ms Borne. Chris Whiteoak / The National
    Sheikh Mohamed arrives at the Matignon to meet Ms Borne. Chris Whiteoak / The National
  • Sheikh Mansour bin Zayed leaves Matignon hotel. Chris Whiteoak / The National
    Sheikh Mansour bin Zayed leaves Matignon hotel. Chris Whiteoak / The National
  • President Sheikh Mohamed signs a guest book during a military ceremony at the Arc de Triomphe in Paris. Photo: Presidential Court
    President Sheikh Mohamed signs a guest book during a military ceremony at the Arc de Triomphe in Paris. Photo: Presidential Court
  • Sheikh Mohamed stands at attention as the national anthems of the UAE and France are played at the Arc de Triomphe. Photo: Presidential Court
    Sheikh Mohamed stands at attention as the national anthems of the UAE and France are played at the Arc de Triomphe. Photo: Presidential Court
  • The UAE President greets a members of the Unknown Soldier’s Torch Committee. Photo: Presidential Court
    The UAE President greets a members of the Unknown Soldier’s Torch Committee. Photo: Presidential Court
  • Sheikh Mohamed lays a wreath at the Tomb of the Unknown Soldier. Photo: Presidential Court
    Sheikh Mohamed lays a wreath at the Tomb of the Unknown Soldier. Photo: Presidential Court
  • The UAE President meets Yael Braun-Pivet, sixth from right, President of the French National Assembly, in Paris. The senior UAE officials include Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of the Presidential Court; Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation; Sheikh Hazza bin Zayed, Vice Chairman of the Abu Dhabi Executive Council; and Sheikh Hamed bin Zayed, managing director of Abu Dhabi Investment Authority and Abu Dhabi Executive Council Member. Photo: Presidential Court
    The UAE President meets Yael Braun-Pivet, sixth from right, President of the French National Assembly, in Paris. The senior UAE officials include Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of the Presidential Court; Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation; Sheikh Hazza bin Zayed, Vice Chairman of the Abu Dhabi Executive Council; and Sheikh Hamed bin Zayed, managing director of Abu Dhabi Investment Authority and Abu Dhabi Executive Council Member. Photo: Presidential Court
  • Sheikh Mohamed with Ms Braun-Pivet at the National Assembly Presidency Palace. Photo: Presidential Court
    Sheikh Mohamed with Ms Braun-Pivet at the National Assembly Presidency Palace. Photo: Presidential Court
  • Sheikh Mohamed is received by Ms Braun-Pivet during his state visit to France. Photo: Presidential Court
    Sheikh Mohamed is received by Ms Braun-Pivet during his state visit to France. Photo: Presidential Court
  • The UAE President gives a speech during a dinner hosted in his honour by French President Emmanuel Macron at the Versailles Grand Trianon in Paris. Photo: Presidential Court
    The UAE President gives a speech during a dinner hosted in his honour by French President Emmanuel Macron at the Versailles Grand Trianon in Paris. Photo: Presidential Court
  • Sheikh Mohamed is in France on his first overseas trip as UAE President. Photo: Presidential Court
    Sheikh Mohamed is in France on his first overseas trip as UAE President. Photo: Presidential Court
  • Sheikh Mohamed discussed the important role that France has undertaken in the Middle East and expressed his interest in continuing to work together to promote peace, stability and security across the region. Photo: Presidential Court
    Sheikh Mohamed discussed the important role that France has undertaken in the Middle East and expressed his interest in continuing to work together to promote peace, stability and security across the region. Photo: Presidential Court
  • Sheikh Mohamed, Mr Macron and France's first lady Brigitte Macron at the Versailles Grand Trianon. Photo: Presidential Court
    Sheikh Mohamed, Mr Macron and France's first lady Brigitte Macron at the Versailles Grand Trianon. Photo: Presidential Court
  • Sheikh Mohamed with French Senate President Gerard Larcher in Paris. Chris Whiteoak / The National
    Sheikh Mohamed with French Senate President Gerard Larcher in Paris. Chris Whiteoak / The National
  • The UAE President met Mr Larcher at Luxembourg Palace. Photo: Presidential Court
    The UAE President met Mr Larcher at Luxembourg Palace. Photo: Presidential Court
  • Members of the UAE delegation attend the meeting at Luxembourg Palace. Photo: Presidential Court
    Members of the UAE delegation attend the meeting at Luxembourg Palace. Photo: Presidential Court
  • Sheikh Mansour bin Zayed, UAE Deputy Prime Minister and Minister of the Presidential Court; Sheikh Hamed bin Zayed, managing director of the Abu Dhabi Investment Authority and Abu Dhabi Executive Council Member; and Sheikh Hazza bin Zayed, vice chairman of the Abu Dhabi Executive Council, during the meeting at Luxembourg Palace. Photo: Presidential Court
    Sheikh Mansour bin Zayed, UAE Deputy Prime Minister and Minister of the Presidential Court; Sheikh Hamed bin Zayed, managing director of the Abu Dhabi Investment Authority and Abu Dhabi Executive Council Member; and Sheikh Hazza bin Zayed, vice chairman of the Abu Dhabi Executive Council, during the meeting at Luxembourg Palace. Photo: Presidential Court
  • Sheikh Mohamed's decision to visit France on his first trip overseas as UAE head of state is considered highly significant and a recognition of the strength of ties between the two countries. Chris Whiteoak / The National
    Sheikh Mohamed's decision to visit France on his first trip overseas as UAE head of state is considered highly significant and a recognition of the strength of ties between the two countries. Chris Whiteoak / The National
  • Sheikh Mohamed and a delegation of ministers and senior officials began the day with a visit to the historic Les Invalides complex, home to the military museum. Chris Whiteoak / The National
    Sheikh Mohamed and a delegation of ministers and senior officials began the day with a visit to the historic Les Invalides complex, home to the military museum. Chris Whiteoak / The National
  • The UAE President then travelled a short distance to Luxembourg Palace. Chris Whiteoak / The National
    The UAE President then travelled a short distance to Luxembourg Palace. Chris Whiteoak / The National
  • Mr Larcher said he was pleased to have the opportunity to discuss the Cop28 climate change conference, which will be hosted at Expo City Dubai in November 2023, and 'a lot about the energy issue, which is very important'. Chris Whiteoak / The National
    Mr Larcher said he was pleased to have the opportunity to discuss the Cop28 climate change conference, which will be hosted at Expo City Dubai in November 2023, and 'a lot about the energy issue, which is very important'. Chris Whiteoak / The National
  • Sheikh Mohamed arrives at Luxembourg Palace in Paris. Chris Whiteoak / The National
    Sheikh Mohamed arrives at Luxembourg Palace in Paris. Chris Whiteoak / The National
  • Sheikh Mohamed and Mr Macron watch as Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and managing director and group chief executive of Adnoc, and France's Energy Transition Minister Agnes Pannier-Runacher sign a comprehensive strategic energy partnership between the two countries. Photo: Presidential Court
    Sheikh Mohamed and Mr Macron watch as Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and managing director and group chief executive of Adnoc, and France's Energy Transition Minister Agnes Pannier-Runacher sign a comprehensive strategic energy partnership between the two countries. Photo: Presidential Court
  • Sheikh Mohamed, Mr Macron, Dr Al Jaber, Ms Pannier-Runacher and France's Economy Minister Bruno Le Maire after the signing ceremony in Paris. Photo: Presidential Court
    Sheikh Mohamed, Mr Macron, Dr Al Jaber, Ms Pannier-Runacher and France's Economy Minister Bruno Le Maire after the signing ceremony in Paris. Photo: Presidential Court
  • Sheikh Mohamed holds talks with Mr Macron at Elysee Palace in Paris. Photo: Presidential Court
    Sheikh Mohamed holds talks with Mr Macron at Elysee Palace in Paris. Photo: Presidential Court
  • Sheikh Mohamed is welcomed to Elysee Palace by Mr Macron. Photo: Presidential Court
    Sheikh Mohamed is welcomed to Elysee Palace by Mr Macron. Photo: Presidential Court
  • Sheikh Mohamed with Mr Macron and France's first lady Brigitte Macron after the UAE President's arrival at Elysee Palace in the French capital. Chris Whiteoak / The National
    Sheikh Mohamed with Mr Macron and France's first lady Brigitte Macron after the UAE President's arrival at Elysee Palace in the French capital. Chris Whiteoak / The National
  • The UAE leader warmly embraced Mr Macron on his arrival in Paris, describing him as a friend and his country as one of the Emirates' closest allies. Chris Whiteoak / The National
    The UAE leader warmly embraced Mr Macron on his arrival in Paris, describing him as a friend and his country as one of the Emirates' closest allies. Chris Whiteoak / The National
  • During a private lunch, the two leaders reviewed new agreements that expand decades of partnership and collaboration between the UAE and France. Chris Whiteoak / The National
    During a private lunch, the two leaders reviewed new agreements that expand decades of partnership and collaboration between the UAE and France. Chris Whiteoak / The National
  • Sheikh Mohamed spoke about the common interest that the UAE and France share in confronting climate change. Chris Whiteoak / The National
    Sheikh Mohamed spoke about the common interest that the UAE and France share in confronting climate change. Chris Whiteoak / The National
  • A French guard of honour awaits the arrival of Sheikh Mohamed to Elysee Palace. Chris Whiteoak / The National
    A French guard of honour awaits the arrival of Sheikh Mohamed to Elysee Palace. Chris Whiteoak / The National
  • The UAE President attends an official reception hosted by Sebastien Lecornu, France's Minister of Armed Forces, at the military museum in Paris. Photo: Presidential Court
    The UAE President attends an official reception hosted by Sebastien Lecornu, France's Minister of Armed Forces, at the military museum in Paris. Photo: Presidential Court
  • Sheikh Mohamed is accompanied by Mr Le Cornu as he inspects a guard of honour and meets officials at the military museum. Photo: Presidential Court
    Sheikh Mohamed is accompanied by Mr Le Cornu as he inspects a guard of honour and meets officials at the military museum. Photo: Presidential Court
  • The UAE President visited the tomb of Napoleon Bonaparte within the Dome des Invalides at the military museum. Photo: Presidential Court
    The UAE President visited the tomb of Napoleon Bonaparte within the Dome des Invalides at the military museum. Photo: Presidential Court
  • Sheikh Mohamed was set to meet top French officials during his two-day visit, including Prime Minister Elisabeth Borne and President of the National Assembly Yael Braun-Pivet. Photo: Presidential Court
    Sheikh Mohamed was set to meet top French officials during his two-day visit, including Prime Minister Elisabeth Borne and President of the National Assembly Yael Braun-Pivet. Photo: Presidential Court
  • Sheikh Mohamed with Sheikh Hazza bin Zayed, vice chairman of the Abu Dhabi Executive Council, and Mr Le Cornu at the military museum. Photo: Presidential Court
    Sheikh Mohamed with Sheikh Hazza bin Zayed, vice chairman of the Abu Dhabi Executive Council, and Mr Le Cornu at the military museum. Photo: Presidential Court
  • Sheikh Mohamed and Mr Le Cornu stand at attention as the two countries' anthems are played. Photo: Presidential Court
    Sheikh Mohamed and Mr Le Cornu stand at attention as the two countries' anthems are played. Photo: Presidential Court
  • The UAE President's motorcade arrives at the military museum. Photo: Presidential Court
    The UAE President's motorcade arrives at the military museum. Photo: Presidential Court
  • Emirati flags adorned the streets around Elysee and Luxembourg palaces. Photo: Presidential Court
    Emirati flags adorned the streets around Elysee and Luxembourg palaces. Photo: Presidential Court

UAE's Spirit of Mosul initiative

The UAE has taken on a major role in cultural diplomacy by supporting artists from the UAE and abroad and reviving buildings of historical and cultural importance.

The country's flagship initiative 'Revive the Spirit of Mosul' helps in the recovery of one of Iraq's iconic cities.

The UAE is the biggest donor to help restore the historic minarets and churches in Mosul, which were devastated when ISIS took control of the area.

The project is funded by the UAE, which gave $50 million to the UN agency.

Reviving Mosul is not only about rebuilding heritage sites, but also about empowering the local population as agents of change involved in the process of rebuilding their city.

“I think the most symbolic and most important outcome of this is seeing the youth of Mosul, talking about the project more than anyone else, more than us, or more than the Unesco,” Ms Al Kaabi said.

Outside the Middle East, the UAE has helped to restore a theatre at Fontainebleau to its original glory.

Restoration of artefacts at Mosul Museum- in pictures

  • Parts of the broken statue of the ancient Mesopotamian "lamassu" human-headed winged bull being reassembled at the Mosul Museum in Iraq's northern city. All photos by AFP
    Parts of the broken statue of the ancient Mesopotamian "lamassu" human-headed winged bull being reassembled at the Mosul Museum in Iraq's northern city. All photos by AFP
  • Ancient artefacts in the Iraqi museum were smashed to pieces when ISIS fighters seized the northern city of Mosul in 2014
    Ancient artefacts in the Iraqi museum were smashed to pieces when ISIS fighters seized the northern city of Mosul in 2014
  • A worker at the museum reassembles pieces of an artefact bearing cuneiform inscriptions.
    A worker at the museum reassembles pieces of an artefact bearing cuneiform inscriptions.
  • Fragments of writing or straight lines help the teams put together some pieces, like a giant jigsaw.
    Fragments of writing or straight lines help the teams put together some pieces, like a giant jigsaw.
  • The destroyed remains of the mihrab, or prayer niche, of the Mosque of Banat Al Hassan undergoing restoration at the museum.
    The destroyed remains of the mihrab, or prayer niche, of the Mosque of Banat Al Hassan undergoing restoration at the museum.
  • Part of a statue of the ancient Mesopotamian "lamassu" human-headed winged bull being reconstructed at the museum.
    Part of a statue of the ancient Mesopotamian "lamassu" human-headed winged bull being reconstructed at the museum.
  • A worker takes notes while analysing artefact fragments to be reconstructed and reassembled.
    A worker takes notes while analysing artefact fragments to be reconstructed and reassembled.
  • Stones of various sizes are being restored at the museum, some bearing etchings of animal paws or wings.
    Stones of various sizes are being restored at the museum, some bearing etchings of animal paws or wings.

The UAE is also the only country in the world that shares the iconic Louvre Museum. There will also be upcoming exhibitions showcasing the work of Emirati artists in France.

“The Louvre is not just the beautiful façade, it is the institution and everything that comes with it,” Ms Al Kaabi said.

“A story that I always enjoy telling is about the role of Emiratis at the Louvre in Abu Dhabi - when it was inaugurated.

"Their role was mainly limited to protocol but today you see them in curation and tomorrow, you'll hopefully see one of them as the director of the museum.

"I think this is the journey that we want to work on. And the journey doesn't stop there, it doesn't stop in the UAE, it goes beyond the borders in the different partnerships we have in terms of how we can protect and preserve indigenous cultural heritage, and cultural sites that suffered from conflicts.”

Another project where both France and the UAE are major stockholders is ALIPH — the International Alliance for the Protection of Heritage in Conflict Areas.

ALIPH has supported more than 100 projects to protect museums, libraries, and archives.

“We believe our future is an extension of our history. It's something that we share with the French and we want to build on it,” she said.

“Another aspect that we are discussing, and I talked about it with the French minister of culture, is that we want to do more when it comes to creative industries, gaming, fashion designing, film production, and I feel there is a lot to do in these areas."

The Ministry of Culture and Youth and the Department of Culture and Tourism - Abu Dhabi will help three artists from the UAE to perform at the Biennale de Lyon, an international contemporary art event in France, next September.

On film production, Ms Al Kaabi said: “We have waited too long that we better do it right now. It's never about the glitzy film festivals. It's about the content that you create, and how you make it travel around the world or inspire your own community. Hopefully, I'll be able to share with you some news soon.”

During her visit to France, Ms Al Kaabi also visited the office of the Permanent Delegation of the UAE to Unesco, Wam news agency said.

The re-opening of the newly renovated office coincides with the 50th anniversary of the year the UAE became a Unesco member state in 1972.

During the visit, Ms Al Kaabi met with officials and staff and saw pieces by Emirati artists such as Mohammed Ahmed Ibrahim, Afra Al Dhaheri, Mohammed Kazem, Nasser Nasrallah, and others.

The office provides a space for visitors to experience both the culture and traditions of the UAE, as well as its contemporary art.

Cricket World Cup League 2

UAE results
Lost to Oman by eight runs
Beat Namibia by three wickets
Lost to Oman by 12 runs
Beat Namibia by 43 runs

UAE fixtures
Free admission. All fixtures broadcast live on icc.tv

Tuesday March 15, v PNG at Sharjah Cricket Stadium
Friday March 18, v Nepal at Dubai International Stadium
Saturday March 19, v PNG at Dubai International Stadium
Monday March 21, v Nepal at Dubai International Stadium

Difference between fractional ownership and timeshare

Although similar in its appearance, the concept of a fractional title deed is unlike that of a timeshare, which usually involves multiple investors buying “time” in a property whereby the owner has the right to occupation for a specified period of time in any year, as opposed to the actual real estate, said John Peacock, Head of Indirect Tax and Conveyancing, BSA Ahmad Bin Hezeem & Associates, a law firm.

South Africa World Cup squad

South Africa: Faf du Plessis (c), Hashim Amla, Quinton de Kock (w), JP Duminy, Imran Tahir, Aiden Markram, David Miller, Lungi Ngidi, Anrich Nortje, Andile Phehlukwayo, Dwaine Pretorius, Kagiso Rabada, Tabraiz Shamsi, Dale Steyn, Rassie van der Dussen.

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.”

Explainer: Tanween Design Programme

Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.

The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.

It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.

The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.

Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”

Who is Allegra Stratton?

 

  • Previously worked at The Guardian, BBC’s Newsnight programme and ITV News
  • Took up a public relations role for Chancellor Rishi Sunak in April 2020
  • In October 2020 she was hired to lead No 10’s planned daily televised press briefings
  • The idea was later scrapped and she was appointed spokeswoman for Cop26
  • Ms Stratton, 41, is married to James Forsyth, the political editor of The Spectator
  • She has strong connections to the Conservative establishment
  • Mr Sunak served as best man at her 2011 wedding to Mr Forsyth
OIL PLEDGE

At the start of Russia's invasion, IEA member countries held 1.5 billion barrels in public reserves and about 575 million barrels under obligations with industry, according to the agency's website. The two collective actions of the IEA this year of 62.7 million barrels, which was agreed on March 1, and this week's 120 million barrels amount to 9 per cent of total emergency reserves, it added.

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

VEZEETA PROFILE

Date started: 2012

Founder: Amir Barsoum

Based: Dubai, UAE

Sector: HealthTech / MedTech

Size: 300 employees

Funding: $22.6 million (as of September 2018)

Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC

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The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
UAE%20PREMIERSHIP
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UAE's role in anti-extremism recognised

General John Allen, President of the Brookings Institution research group, commended the role the UAE has played in the fight against terrorism and violent extremism.

He told a Globsec debate of the UAE’s "hugely outsized" role in the fight against Isis.

"It’s trite these days to say that any country punches above its weight, but in every possible way the Emirates did, both militarily, and very importantly, the UAE was extraordinarily helpful on getting to the issue of violent extremism," he said.

He also noted the impact that Hedayah, among others in the UAE, has played in addressing violent extremism.

HAJJAN
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Top Hundred overseas picks

London Spirit: Kieron Pollard, Riley Meredith 

Welsh Fire: Adam Zampa, David Miller, Naseem Shah 

Manchester Originals: Andre Russell, Wanindu Hasaranga, Sean Abbott

Northern Superchargers: Dwayne Bravo, Wahab Riaz

Oval Invincibles: Sunil Narine, Rilee Rossouw

Trent Rockets: Colin Munro

Birmingham Phoenix: Matthew Wade, Kane Richardson

Southern Brave: Quinton de Kock

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

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)

Famous left-handers

- Marie Curie

- Jimi Hendrix

- Leonardo Di Vinci

- David Bowie

- Paul McCartney

- Albert Einstein

- Jack the Ripper

- Barack Obama

- Helen Keller

- Joan of Arc

The biog

Alwyn Stephen says much of his success is a result of taking an educated chance on business decisions.

His advice to anyone starting out in business is to have no fear as life is about taking on challenges.

“If you have the ambition and dream of something, follow that dream, be positive, determined and set goals.

"Nothing and no-one can stop you from succeeding with the right work application, and a little bit of luck along the way.”

Mr Stephen sells his luxury fragrances at selected perfumeries around the UAE, including the House of Niche Boutique in Al Seef.

He relaxes by spending time with his family at home, and enjoying his wife’s India cooking. 

Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

Updated: July 23, 2022, 11:29 AM