President Sheikh Mohamed honours humanitarian vision of Sheikh Zayed


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President Sheikh Mohamed has led tributes to the humanitarian vision of the UAE Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan.

“As we mark Zayed Humanitarian Day, we continue to be guided by the values of the late Sheikh Zayed who cared deeply about all people and their dignity,” Sheikh Mohamed said on Twitter.

“His generosity and compassion touched lives around the world and continues to inspire the UAE’s humanitarian work today.”

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said Sheikh Zayed's legacy lives on with the values he has instilled in Emiratis.

"He passed away with his body and his impact remained and we remember every day his goodness," he said, writing on Twitter.

"May God have mercy on those who instilled the values ​​of giving in his people and raised the building of this country on the basis of mercy with morals, and benevolence to human beings, in the gardens of eternity oh Zayed the good."

The ruler's death is marked each year on the 19th day of Ramadan, which at the time of his passing in 2004 fell on November 2.

The significant contributions of the country's first President are recognised each year on this day, through Zayed Humanitarian Day.

The occasion honours the philanthropic path laid down by Sheikh Zayed for generations of Emiratis to follow.

Under Sheikh Zayed's leadership of a fledgling nation, the Abu Dhabi Development Fund was established in 1971, while the Zayed bin Sultan Al Nahyan Charitable and Humanitarian Foundation was set up in 1992.

The UAE delivered aid worth Dh90.5 billion ($24.64 billion) to more than 100 countries during his 33-year presidency.

His environmental legacy lives on through projects such as the Zayed Sustainability Prize, which promotes global efforts to combat climate change and support needy communities.

The country has upheld these values in the years since, with crucial financial assistance being pledged in recent months to support lives disrupted by the Ukraine-Russia conflict and the earthquake in Turkey and Syria.

Sheikh Mansour bin Zayed, Vice President, said Sheikh Zayed established the values of generosity and giving on which the country has prided itself.

He praised Sheikh Zayed for “extending a helping hand to the various peoples of the Earth” in a message on Twitter on Monday.

A leader blessed with wisdom and humanity

Dr Anwar Gargash, diplomatic adviser to the President, offered a warm tribute to Sheikh Zayed.

“Today we remember the founding leader, Sheikh Zayed bin Sultan, may God rest his soul, and celebrate his vision and determination in building the union and the blessed path of development,” Dr Gargash said on Twitter, in a message accompanied by a picture of the Founding Father.

“May God have mercy on him, he was an exceptional leader with his wisdom and humanity, and we will continue to cherish his legacy and draw from it to move towards a brighter future under the leadership of His Highness Sheikh Mohammed bin Zayed, may God protect him.”

Passion for kindness

UAE astronaut Sultan Al Neyadi posted a tribute to Sheikh Zayed from space — which included an image of the UAE flag — describing him as someone who instilled the values of kindness, determination and ambition in Emiratis.

“In memory of the man who ingrained in us the passion for kindness, determination and ambition, I proudly present the flag of the UAE, from space,” Dr Al Neyadi said, writing on Twitter.

He said he was “humbled to remember the legacy” of Sheikh Zayed, describing him as “a visionary and great humanitarian”.

A role model

Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman, hailed Sheikh Zayed as a “role model and one-of-a-kind leader” in comments carried by state news agency Wam.

“Sheikh Zayed was not only a leader, but also a father and remarkable human being, powered with a heart that beat with compassion and humanity, opening his doors to any who came to visit or wished to meet him,” Sheikh Humaid said.

Sheikh Hamad bin Mohammed Al Sharqi, Ruler of Fujairah, described Sheikh Zayed as an “icon of giving and humanitarianism”.

He said Zayed Humanitarian Work Day was an opportunity to highlight the leader's “vision to promote tolerance and giving” and said Sheikh Zayed's “impact stretched across the region and the world”.

Sheikh Hazza bin Zayed, Deputy Ruler of Abu Dhabi, recalled the benevolence of Sheikh Zayed, who he said established the act of giving as a cornerstone of Emirati society.

Abdulrahman Al Owais, Minister of Health and Prevention, said the UAE was founded on humanitarian values.

“Since the establishment of the UAE, humanitarian work has been turned into a way of life and an approach upheld by the Founding Father and has now become a fundamental part of all national policies and strategies, as well as the plans and work approaches of both government and private institutions,” said Mr Al Owais.

“It is a cornerstone of social responsibility activities. This is demonstrated by our country's unwavering commitment to the values of giving and tolerance that were instilled and supported by Sheikh Zayed, aiming to enhance the UAE's position as a leader in humanitarian work at the regional and global levels.”

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October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA

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Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).

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The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

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Started: November 2017

Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga

Based: Cairo, Egypt

Sector: transport and logistics

Size: 150 employees

Investment: approximately $8 million

Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar

Company Fact Box

Company name/date started: Abwaab Technologies / September 2019

Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO

Based: Amman, Jordan

Sector: Education Technology

Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed

Stage: early-stage startup 

Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.

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Second Test
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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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Sunday:
GP3 race: 12:10pm
Formula 2 race: 1:35pm
Formula 1 race: 5:10pm
Performance: Guns N' Roses

Match info

Uefa Nations League Group B:

England v Spain, Saturday, 11.45pm (UAE)

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KEY%20DATES%20IN%20AMAZON'S%20HISTORY
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The chef's advice

Troy Payne, head chef at Abu Dhabi’s newest healthy eatery Sanderson’s in Al Seef Resort & Spa, says singles need to change their mindset about how they approach the supermarket.

“They feel like they can’t buy one cucumber,” he says. “But I can walk into a shop – I feed two people at home – and I’ll walk into a shop and I buy one cucumber, I’ll buy one onion.”

Mr Payne asks for the sticker to be placed directly on each item, rather than face the temptation of filling one of the two-kilogram capacity plastic bags on offer.

The chef also advises singletons not get too hung up on “organic”, particularly high-priced varieties that have been flown in from far-flung locales. Local produce is often grown sustainably, and far cheaper, he says.

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Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics

 

Without Remorse

Directed by: Stefano Sollima

Starring: Michael B Jordan

4/5

MATCH INFO

Uefa Champions League semi-finals, second leg:

Liverpool (0) v Barcelona (3), Tuesday, 11pm UAE

Game is on BeIN Sports

Updated: April 10, 2023, 3:42 PM