Muslims pray during Eid al Fitr at Al Eid Mosque in Abu Dhabi on September 20, 2009.
Muslims pray during Eid al Fitr at Al Eid Mosque in Abu Dhabi on September 20, 2009.
Muslims pray during Eid al Fitr at Al Eid Mosque in Abu Dhabi on September 20, 2009.
Muslims pray during Eid al Fitr at Al Eid Mosque in Abu Dhabi on September 20, 2009.

Ramadan ends with moon sighting


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ABU DHABI // The holy month of Ramadan ended last night, with Eid al Fitr celebrations beginning today, UAE authorities announced. In line with Islamic tradition, officials from the Shawwal Crescent Committee met last night to look skyward for first sight of the new moon, which marks the end of the fasting month. The committee's findings were announced at a press conference at the Abu Dhabi Judiciary Department headquarters.

"It has been determined that Eid begins on Sunday," said Dr Hadef al Dhaheri, the Minister of Justice, at the live-televised announcement. "After communicating with neighbouring countries, the committee has made certain that this year's Shawwal moon has been sighted. Accordingly Sunday, September 20, 2009, is the first day of Eid al Fitr." During the address, Dr al Dhaheri extended Eid greetings to the President of the UAE, Sheikh Khalifa bin Zayed, to Sheikh Mohammed bin Rashid, Vice President and Prime Minister of the UAE and Ruler of Dubai, and to the members of the Supreme Council and Rulers of the Emirates, Crown Princes of the Emirates, people of the UAE and Islamic nations.

Should officials have failed to catch sight of the new moon, Ramadan would have continued for a further 24 hours and Eid al Fitr would have began on Monday. Astronomical calculations dating to early Islamic times estimate with some accuracy when the new moon will be visible to the naked eye, but predictions as to the precise day are always difficult. The announcement last night means that there will be three days of national holiday beginning tomorrow.

Sheikh Khalifa on Friday exchanged good wishes with heads of state including those in the Gulf, and was today due to offer the traditional Eid al Fitr prayer. He spoke to the leaders of Saudi Arabia, Qatar, Bahrain, Oman and Egypt in a round of telephone calls offering them Eid greetings, according to the UAE's official news agency, WAM. The President is today expected to offer the Eid al Fitr prayer at the Sheikh Zayed Grand Mosque in the capital before meeting the Supreme Council members and Rulers of the Emirates at a special reception at Al Mushrif Palace. He is also due to exchange Eid greetings with the emirates' deputy rulers and crown princes.

Sheikh Mohammed bin Rashid was expected to visit the Grand Eid Musalla to perform the Eid prayer before greeting local dignitaries and the public. Sheikh Hamad bin Mohammed, the Ruler of Fujairah, was due to offer the Eid prayer at the Fujairah Grand Eid Musalla before meeting regional dignitaries and members of the public. Umm al Qaiwain's Ruler, Sheikh Saud bin Rashid, was due to carry out the Eid prayer at the Sheikh Zayed Mosque ahead of a meeting with local officials and residents of the emirate.

Sheikh Sultan bin Mohammed, the Ruler of Sharjah, sent a cable of greetings to Sheikh Khalifa, Sheikh Mohammed, the Rulers of the other emirates and regional leaders. Ajman's Ruler, Sheikh Humaid bin Rashid, will offer his prayers at the Sheikh Rashid bin Humaid Musalla. The Ruler will be joined in offering the prayer by the Ajman Crown Prince, Sheikh Ammar bin Humaid, other sheikhs, senior officials and a large number of Muslim worshippers.

WAM provided no details of where the ruler of Ras al Khaimah, Sheikh Saqr bin Mohammed, would offer Eid prayers. Eid prayers are expected to start after 6.20 this morning, with many people across the UAE gathering in communal prayer grounds on the first day of Eid al Fitr. Many of those celebrating Eid across the UAE are expected to mark the occasion by visiting friends and family. Others will gather at parks, as well as at special events such as that organised by the Emirates Heritage Club, which is launching a three-day Eid al Fitr Festival at the Abu Dhabi Theatre. The festival will start at 7.30pm with a comedy show performed by the Dubai Al Ahli Theatre Group. "Eid in Dubai" is an event being organised by the office of the Dubai Shopping Festival.

@Email:chamilton@thenational.ae

MATCH INFO

Burnley 0

Man City 3

Raheem Sterling 35', 49'

Ferran Torres 65'

 

 

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MATCH INFO

Day 2 at the Gabba

Australia 312-1 

Warner 151 not out, Burns 97,  Labuschagne 55 not out

Pakistan 240 

Shafiq 76, Starc 4-52

The biog

Favourite book: You Are the Placebo – Making your mind matter, by Dr Joe Dispenza

Hobby: Running and watching Welsh rugby

Travel destination: Cyprus in the summer

Life goals: To be an aspirational and passionate University educator, enjoy life, be healthy and be the best dad possible.

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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Born in Spain, Tribulietx took sole charge of Auckland in 2010 and has gone on to lead the club to 14 trophies, including seven successive Oceania Champions League crowns. Has been tipped for the vacant New Zealand national team job following Anthony Hudson's resignation last month. Had previously been considered for the role. 

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German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

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Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE