UAE leaders have performed Eid Al Fitr prayers to mark the end of Ramadan.
Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Minister of the Presidential Court, performed Eid Al Fitr prayers on Friday at Abu Dhabi's Sheikh Zayed Grand Mosque.
He was accompanied by Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, and Sheikh Hazza bin Zayed and Sheikh Tahnoun bin Zayed, the Deputy Rulers of Abu Dhabi.
The Eid sermon, titled “By giving thanks, we sustain blessings”, was delivered by Dr Muhammad Al Kaabi, chairman of the General Authority for Islamic Affairs and Endowments.
After the Eid prayer, the sheikhs exchanged greetings with worshippers before going to visit the tomb of the UAE's Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan.
Meanwhile Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, and Sheikh Maktoum bin Mohammed, Deputy Prime Minister, Minister of Finance and Deputy Ruler of Dubai, performed Eid prayers at the Sheikh Rashid bin Saeed Mosque in Zabeel.
Sharjah Ruler Sheikh Dr Sultan bin Muhammad Al Qasimi performed Eid prayers at Badi Mosque in the emirate.
The prayers were performed alongside Sheikh Sultan bin Mohammed Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, and Sheikh Sultan bin Ahmed Al Qasimi, Deputy Ruler of Sharjah.
In Fujairah, Sheikh Hamad bin Mohammed Al Sharqi, the emirate's Ruler, offered Eid prayers at the Sheikh Zayed Grand Mosque. He was accompanied by Crown Prince Sheikh Mohammed bin Hamad Al Sharqi.
A number of sheikhs, senior officials, dignitaries, citizens and residents also performed prayers alongside the Fujairah Ruler.
In Ras Al Khaimah, Sheikh Saud bin Saqr Al Qasimi, the emirate's Ruler, and Crown Prince Sheikh Mohammed bin Saud Al Qasimi performed Eid prayers at the Eid Grand Musalla in Khuzam.
Umm Al Quwain Ruler Sheikh Saud bin Rashid Al Mualla performed prayers at the Sheikh Ahmed bin Rashid Al Mualla Mosque in the emirate's Al Ras district.
He was accompanied by Sheikh Rashid bin Saud Al Mualla, Umm Al Quwain Crown Prince.
In Ajman, Ruler Sheikh Humaid bin Rashid Al Nuaimi offered Eid Al Fitr prayers at Al Zaher Palace mosque.
He was accompanied by Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman.
And Sheikh Tahnoun bin Mohammed, Abu Dhabi Ruler's Representative in Al Ain Region, performed Eid Al Fitr prayer at the Sheikh Khalifa bin Zayed Mosque in Al Ain.
Eid Al Fitr, also known as the “festival of ending the fast”, is one of the most important festivals in the Islamic calendar.
It is celebrated by Muslims all over the world and marks the end of the month-long fast of Ramadan.
Over the past three years, the UAE has observed strict measures to combat the spread of Covid-19 during Eid Al Fitr.
This is the first year worshippers have been able to come together and celebrate the festival without precautionary measures such as social distancing or face masks.
ANDROID%20VERSION%20NAMES%2C%20IN%20ORDER
%3Cp%3EAndroid%20Alpha%3C%2Fp%3E%0A%3Cp%3EAndroid%20Beta%3C%2Fp%3E%0A%3Cp%3EAndroid%20Cupcake%3C%2Fp%3E%0A%3Cp%3EAndroid%20Donut%3C%2Fp%3E%0A%3Cp%3EAndroid%20Eclair%3C%2Fp%3E%0A%3Cp%3EAndroid%20Froyo%3C%2Fp%3E%0A%3Cp%3EAndroid%20Gingerbread%3C%2Fp%3E%0A%3Cp%3EAndroid%20Honeycomb%3C%2Fp%3E%0A%3Cp%3EAndroid%20Ice%20Cream%20Sandwich%3C%2Fp%3E%0A%3Cp%3EAndroid%20Jelly%20Bean%3C%2Fp%3E%0A%3Cp%3EAndroid%20KitKat%3C%2Fp%3E%0A%3Cp%3EAndroid%20Lollipop%3C%2Fp%3E%0A%3Cp%3EAndroid%20Marshmallow%3C%2Fp%3E%0A%3Cp%3EAndroid%20Nougat%3C%2Fp%3E%0A%3Cp%3EAndroid%20Oreo%3C%2Fp%3E%0A%3Cp%3EAndroid%20Pie%3C%2Fp%3E%0A%3Cp%3EAndroid%2010%20(Quince%20Tart*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2011%20(Red%20Velvet%20Cake*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2012%20(Snow%20Cone*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2013%20(Tiramisu*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2014%20(Upside%20Down%20Cake*)%3C%2Fp%3E%0A%3Cp%3EAndroid%2015%20(Vanilla%20Ice%20Cream*)%3C%2Fp%3E%0A%3Cp%3E%3Cem%3E*%20internal%20codenames%3C%2Fem%3E%3C%2Fp%3E%0A
Abaya trends
The utilitarian robe held dear by Arab women is undergoing a change that reveals it as an elegant and graceful garment available in a range of colours and fabrics, while retaining its traditional appeal.
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
Getting there
Flydubai flies direct from Dubai to Tbilisi from Dh1,025 return including taxes
Match info
Liverpool 4
Salah (19'), Mane (45 2', 53'), Sturridge (87')
West Ham United 0
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.”
