• Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, with Poland’s President Andrzej Duda, in Warsaw. All photos: Wam
    Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, with Poland’s President Andrzej Duda, in Warsaw. All photos: Wam
  • Sheikh Abdullah and Mr Duda discussed issues of common interest and international efforts to find a political settlement to the crisis in Ukraine.
    Sheikh Abdullah and Mr Duda discussed issues of common interest and international efforts to find a political settlement to the crisis in Ukraine.
  • The two sides explored ways to enhance bilateral co-operation in various fields.
    The two sides explored ways to enhance bilateral co-operation in various fields.
  • Sheikh Abdullah meets Zbigniew Rau, Poland's Minister of Foreign Affairs.
    Sheikh Abdullah meets Zbigniew Rau, Poland's Minister of Foreign Affairs.
  • Mr Rau said Sheikh Abdullah's visit was important to bolster relations and lauded the UAE's efforts to work towards promoting regional and international security and stability.
    Mr Rau said Sheikh Abdullah's visit was important to bolster relations and lauded the UAE's efforts to work towards promoting regional and international security and stability.
  • Sheikh Abdullah said he welcomed all mediation efforts made by the international community to promote stability and peace in Europe and around the world.
    Sheikh Abdullah said he welcomed all mediation efforts made by the international community to promote stability and peace in Europe and around the world.
  • The UAE and Polish officials during the meeting.
    The UAE and Polish officials during the meeting.

Sheikh Abdullah bin Zayed and Poland's President discuss bilateral ties


  • English
  • Arabic

Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, has held talks with Poland’s President Andrzej Duda, in Warsaw.

Sheikh Abdullah conveyed to Mr Duda the greetings of President Sheikh Mohamed and Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai.

Mr Duda also sent his warm greetings to the UAE leaders and wished the country further progress and prosperity.

During the meeting, the two sides explored ways to enhance bilateral co-operation in various fields.

They also discussed issues of common interest and international efforts to find a political settlement to the crisis in Ukraine.

Earlier, Sheikh Abdullah also held talks with Zbigniew Rau, Poland's Minister of Foreign Affairs.

They also reviewed regional and global developments, including the situation in Ukraine and international efforts to stabilise energy markets.

In a joint statement with the Polish minister, Sheikh Abdullah said: "The UAE values ​​the exceptional relations and close ties that unite our two nations, which include co-operation across various economic, political and cultural domains.

"The valuable participation of Poland in Expo 2020 Dubai was a clear example of this co-operation and reflects Poland's cultural and economic capabilities and its ability to innovate and create.

"During my visit to the Polish pavilion, I enjoyed watching the ancient designs that emphasised Poland's readiness to face emerging challenges and foresight of the future.

"During the current period in which the world, foremost of which is Europe, faces difficult and complex challenges, we appreciate Poland's decisive role.

"This is evident through the country's role in facing international issues by co-operating with neighbouring countries in dealing with the humanitarian crisis resulting from the conflict in Ukraine by welcoming millions of refugees with open arms and expanding social safety nets to meet their needs."

Sheikh Abdullah said the Emirates appreciated Poland's vital role in enabling the delivery of aid to Ukraine, including relief supplies coming from the UAE.

"We believe in the need to intensify efforts to mitigate the severity of crises, especially allowing humanitarian aid to reach those vulnerable without any hindrance," he said.

"We also support Poland in expressing our concern about the high levels of hunger and food insecurity globally, which requires us to make international efforts and confront these common challenges, which is one of my top priorities."

Sheikh Abdullah said he welcomed all mediation efforts made by the international community to promote stability and peace in Europe and around the world.

"The UAE, as a current member of the Security Council, looks forward to continuing working with member states to resolve the conflict peacefully and through diplomatic means, in line with the international law and the Charter of the United Nations," he said.

"Our economic and trade partnerships reflect the common goals between our two countries. Last year, non-oil trade increased to about $1.4 billion, which represents an increase of 10 per cent compared to previous years."

The UAE also received more than 37,000 Polish tourists and signed new agreements aimed at expanding investment and economic co-operation, Sheikh Abdullah said.

"We look forward to strengthening ties across all levels, especially renewable energy, health, education and technology, to achieve more prosperity and stability for our people," he said.

Mr Rau welcomed Sheikh Abdullah and said his visit was important to bolster relations. He lauded the UAE's efforts to work towards promoting regional and international security and stability. He also commended the Emirates' global humanitarian initiatives.

The Polish minister offered his condolences to Sheikh Abdullah, on the death of Sheikh Khalifa.

The meeting was attended by Eman Ahmed Al Salami, UAE's ambassador to Poland.

Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

RESULT

Deportivo La Coruna 2 Barcelona 4
Deportivo:
Perez (39'), Colak (63')
Barcelona: Coutinho (6'), Messi (37', 81', 84')

Countries recognising Palestine

France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra

 

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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.”

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

The specs

Engine: 2.0-litre 4-cyl

Power: 153hp at 6,000rpm

Torque: 200Nm at 4,000rpm

Transmission: 6-speed auto

Price: Dh99,000

On sale: now

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Poland Statement
All people fleeing from Ukraine before the armed conflict are allowed to enter Poland. Our country shelters every person whose life is in danger - regardless of their nationality.

The dominant group of refugees in Poland are citizens of Ukraine, but among the people checked by the Border Guard are also citizens of the USA, Nigeria, India, Georgia and other countries.

All persons admitted to Poland are verified by the Border Guard. In relation to those who are in doubt, e.g. do not have documents, Border Guard officers apply appropriate checking procedures.

No person who has received refuge in Poland will be sent back to a country torn by war.

UAE and Russia in numbers

UAE-Russia ties stretch back 48 years

Trade between the UAE and Russia reached Dh12.5 bn in 2018

More than 3,000 Russian companies are registered in the UAE

Around 40,000 Russians live in the UAE

The number of Russian tourists travelling to the UAE will increase to 12 percent to reach 1.6 million in 2023

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

How to help

Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200

Updated: May 27, 2022, 9:49 AM