U.S. President Barack Obama (R) holds a meeting with Crown Prince Mohammed bin Zayed Al Nahyan of the United Arab Emirates in the Oval Office of the White House in Washington April 26, 2011.  
REUTERS/Kevin Lamarque (UNITED STATES - Tags: POLITICS ROYALS) *** Local Caption ***  WASW201_OBAMA-UAE_0426_11.JPG
Sheikh Mohammed bin Zayed meets Barack Obama in the Oval Office of the White House in Washington on Tuesday.

Sheikh Mohammed meets Barack Obama, US president



WASHINGTON //Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, yesterday met with Barack Obama, the US president, at the White House to discuss bilateral relations and regional issues.

The leaders underscored the strong and broad-based relationship uniting the two countries and pledged to continue close co-operation, especially in the realm of security and commercial activity, according to WAM, the state news agency. They discussed recent developments in the Middle East, including bilateral and multilateral efforts to improve stability in the region, as well as the prevention and spread of extremism. Sheikh Mohammed also reiterated the UAE's support for international peacekeeping efforts in Libya.

The Crown Prince also met with Robert Gates, the US secretary of defence, as well as with Janet Napolitano, the US secretary of homeland security. In those meetings, he reaffirmed the UAE's strong commitment to a stable and peaceful Middle East while lauding the strategic and military co-operation between the two countries.

He also underscored the importance of the Obama administration's commitment to working with both sides to find a solution to the Israeli-Palestinian conflict.

Sheikh Mohammed was accompanied by Sheikh Abdullah bin Zayed, Minister of Foreign Affairs, as well as Khaldoon Al Mubarak, Chairman of the Executive Affairs Authority, Mohammed Mubarak Al Mazrouei, Undersecretary of the Abu Dhabi Crown Prince's Court, and Yousef Al Otaiba, the UAE Ambassador to the US.

Earlier yesterday, Sheikh Mohammed met Staff Admiral Mike Mullen, chairman of the US military's Joint Chiefs of Staff to discuss areas of military co-operation between the two nations, as well as regional developments, and bilateral and international efforts to strengthen stability in the Middle East.

On Monday, the Crown Prince visited the Children's National Medical Centre in Washington. In 2009, Abu Dhabi donated US$150million (Dh551m) to the CNMC, which opened the Sheikh Zayed Institute for Paediatric Surgical Innovation in September of that year in honour of the late Sheikh Zayed, the founder of the UAE.

Sheikh Mohammed met some of the Emirati families whose children are being treated at the hospital and toured the new, state-of-the-art facility. He was accompanied by Sheikh Abdullah.

The Crown Prince's visit concluded last night with a dinner hosted by Ambassador Otaiba in his honour. Among the guests were Mr Gates; Admiral Mullen, as well as Timothy Geithner, US Treasury Secretary and Leon Panetta, director of the Central Intelligence Agency. Also in attendance were General James N Mattis, Commander of the US Joint Forces Command; White House Chief of Staff William Daley; and National Security Advisor Tom Donilon.

foreign.desk@thenational.ae

Company Profile

Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed

RECORD BREAKER

Youngest debutant for Barcelona: 15 years and 290 days v Real Betis
Youngest La Liga starter in the 21st century: 16 years and 38 days v Cadiz
Youngest player to register an assist in La Liga in the 21st century: 16 years and 45 days v Villarreal
Youngest debutant for Spain: 16 years and 57 days v Georgia
Youngest goalscorer for Spain: 16 years and 57 days
Youngest player to score in a Euro qualifier: 16 years and 57 days

TWISTERS

Director: Lee Isaac Chung

Starring: Glenn Powell, Daisy Edgar-Jones, Anthony Ramos

Rating: 2.5/5

Team Angel Wolf Beach Blast takes place every Wednesday between 4:30pm and 5:30pm

COMPANY PROFILE

Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

THE SPECS

Engine: 1.6-litre turbo

Transmission: six-speed automatic

Power: 165hp

Torque: 240Nm

Price: From Dh89,000 (Enjoy), Dh99,900 (Innovation)

On sale: Now

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

Teri Baaton Mein Aisa Uljha Jiya

Directors: Amit Joshi and Aradhana Sah

Cast: Shahid Kapoor, Kriti Sanon, Dharmendra, Dimple Kapadia, Rakesh Bedi

Rating: 4/5

The specs

Engine: 5.0-litre V8

Power: 480hp at 7,250rpm

Torque: 566Nm at 4,600rpm

Transmission: 10-speed auto

Fuel consumption: L/100km

Price: Dh306,495

On sale: now

Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

Sukuk explained

Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.

WORLD CUP SEMI-FINALS

England v New Zealand (Saturday, 12pm)

Wales v South Africa (Sunday, 1pm)

COMPANY PROFILE

Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

Another way to earn air miles

In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.

An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.

“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.

ROUTE TO TITLE

Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2

The struggle is on for active managers

David Einhorn closed out 2018 with his biggest annual loss ever for the 22-year-old Greenlight Capital.

The firm’s main hedge fund fell 9 per cent in December, extending this year’s decline to 34 percent, according to an investor update viewed by Bloomberg.

Greenlight posted some of the industry’s best returns in its early years, but has stumbled since losing more than 20 per cent in 2015.

Other value-investing managers have also struggled, as a decade of historically low interest rates and the rise of passive investing and quant trading pushed growth stocks past their inexpensive brethren. Three Bays Capital and SPO Partners & Co., which sought to make wagers on undervalued stocks, closed in 2018. Mr Einhorn has repeatedly expressed his frustration with the poor performance this year, while remaining steadfast in his commitment to value investing.

Greenlight, which posted gains only in May and October, underperformed both the broader market and its peers in 2018. The S&P 500 Index dropped 4.4 per cent, including dividends, while the HFRX Global Hedge Fund Index, an early indicator of industry performance, fell 7 per cent through December. 28.

At the start of the year, Greenlight managed $6.3 billion in assets, according to a regulatory filing. By May, the firm was down to $5.5bn. 

MATCH INFO

Barcelona 2
Suarez (10'), Messi (52')

Real Madrid 2
Ronaldo (14'), Bale (72')

MEDIEVIL (1998)

Developer: SCE Studio Cambridge
Publisher: Sony Computer Entertainment
Console: PlayStation, PlayStation 4 and 5
Rating: 3.5/5

EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE

Edinburgh: November 4 (unchanged)

Bahrain: November 15 (from September 15); second daily service from January 1

Kuwait: November 15 (from September 16)

Mumbai: January 1 (from October 27)

Ahmedabad: January 1 (from October 27)

Colombo: January 2 (from January 1)

Muscat: March 1 (from December 1)

Lyon: March 1 (from December 1)

Bologna: March 1 (from December 1)

Source: Emirates

SPECS

Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now

THE SPECS

Engine: 4.4-litre twin-turbo V8 hybrid
Power: 653hp at 5,400rpm
Torque: 800Nm at 1,600-5,000rpm
Transmission: 8-speed auto
0-100kph in 4.3sec
Top speed 250kph
Fuel consumption: NA
On sale: Q2 2023
Price: From Dh750,000


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