President Sheikh Mohamed expressed his thanks for the UAE's invitation to join the Brics group of nations during a call with Indian Prime Minister Narendra Modi on Thursday.
The Emirates is one of six countries – along with Saudi Arabia, Egypt, Iran, Ethiopia and Argentina – that will form part of the extended economic bloc.
Brics is an acronym of the group's founding members of Brazil, Russia, India, China and South Africa.
It is viewed by some as an alternative to the firmly established G7 group of developed countries.
During the phone call, Sheikh Mohamed offered his thanks and appreciation for the approval of the Brics leaders for the UAE's elevation to member status, state news agency Wam reported.
The UAE leader said the move would help consolidate the UAE's position on the global stage.
Earlier, Sheikh Mohamed welcomed the Brics directive, which was confirmed by South African President Cyril Ramaphosa, in a message on social media.
“We respect the vision of the Brics leadership and appreciate the inclusion of the UAE as a member to this important group,” he wrote on X, formerly known as Twitter.
“We look forward to a continued commitment of co-operation for the prosperity, dignity and benefit of all nations and people around the world.”
Sheikh Mohamed also congratulated Mr Modi and the people of India on the country's landmark achievement in becoming the first country to land on the southern lunar pole on Wednesday.
The historic moment, streamed live by the Indian space agency, was watched by Mr Modi and millions around the world.
For his part, Mr Modi congratulated Sheikh Mohamed on the UAE's joining of Brics and thanked him for his support of India's success in the space sector.
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
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Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
LIKELY TEAMS
South Africa
Faf du Plessis (captain), Dean Elgar, Aiden Markram, Hashim Amla, AB de Villiers, Quinton de Kock (wkt), Vernon Philander, Keshav Maharaj, Kagiso Rabada, Morne Morkel, Lungi Ngidi.
India (from)
Virat Kohli (captain), Murali Vijay, Lokesh Rahul, Cheteshwar Pujara, Rohit Sharma, Ajinkya Rahane, Hardik Pandya, Dinesh Karthik (wkt), Ravichandran Ashwin, Bhuvneshwar Kumar, Ishant Sharma, Mohammad Shami, Jasprit Bumrah.
Getting there
Flydubai flies direct from Dubai to Tbilisi from Dh1,025 return including taxes
Apple product price list
iPad Pro
11" - $799 (64GB)
12.9" - $999 (64GB)
MacBook Air
$1,199
Mac Mini
$799