An image grab taken from Qatar TV shows Sheikh Tamim, the new emir of Qatar, delivering his first televised speech to the nation as its ruler.
An image grab taken from Qatar TV shows Sheikh Tamim, the new emir of Qatar, delivering his first televised speech to the nation as its ruler.
An image grab taken from Qatar TV shows Sheikh Tamim, the new emir of Qatar, delivering his first televised speech to the nation as its ruler.
An image grab taken from Qatar TV shows Sheikh Tamim, the new emir of Qatar, delivering his first televised speech to the nation as its ruler.

Qatar's new emir Sheikh Tamim sets out the way forward


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DOHA // Qatar will retain its independent foreign policy, support the sovereignty of all Arab lands and seek to diversify its gas-based economy, the new emir said yesterday.

In his first speech as head of state, Sheikh Tamim bin Hamad Al Thani, 33, said he would follow the path of his father Sheikh Hamad, architect of the modern Qatari state, who on Tuesday became the first modern Arab leader to abdicate.

Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, had met Sheikh Tamim at the Emiri Court in Doha earlier in the day.

He conveyed the regards of the President, Sheikh Khalifa, and the Vice President and prime minister and Ruler of Dubai, Sheikh Mohammed bin Rashid.

Sheikh Tamim's 15-minute address focused on regional and domestic issues, including the "challenge of diversifying income and investing for future generations".

"We don't take direction and this independent behaviour is one of the established facts," he said.

The emir said Qatar would respect "the sovereignty and integrity of all Arab lands".

"Qatar is committed to the struggle of the Palestinian people to gain their legitimate rights and deem gaining these rights a condition for achieving a just peace," he said.

This "includes Israeli withdrawal from all Arab lands occupied in 1967, including East Jerusalem, as well as the establishment of a Palestinian state and the right of return for Palestinian refugees. There is no settlement without a just peace."

The emir made no direct mention of the conflict in Syria, where Qatar backs rebels fighting to topple Bashar Al Assad.

Sheikh Tamim said Qatar "rejects divisions in Arab societies on sectarian lines". "We seek to preserve relations with all governments and countries and we respect all sincere, active and effective political directions in the region but we do not support one side over the other," he said.

"We respect all the influential and active political trends in the region, but we are not affiliated with one trend against the other. We are Muslims and Arabs who respect diversity of sects and respect all religions in our countries and outside of them."

Later yesterday the emir formed a new government, which does not include the former prime minister and foreign minister Sheikh Hamad bin Jassim Al Thani, who in his 21 years in office had become the face of Qatari foreign policy.

Sheikh Hamad bin Jassim did not hesitate to take the lead among Arab states, most notably in the Libyan and Syrian uprisings. Qatar was militarily involved in the Nato operations in Libya that led to the eventual overthrow of Muammar Qaddafi, and actively supports rebels fighting to topple Mr Al Assad. The new emir split the positions held by Sheikh Hamad, naming Sheikh Abdullah bin Nasser bin Khalifa Al Thani prime minister and interior minister, with Khaled Al Attiyah promoted to foreign minister.

"The appointment of the new prime minister, who possesses a strong domestic portfolio, certainly shows that the new emir is keen to focus on domestic issues and to develop the country internally," said Michael Stephens, a researcher at the Royal United Services Institute in Doha.

Mohammed Al Sada retained the post of energy minister, a key position in the emirate, the world's largest exporter of natural gas.

The cabinet also included a woman, with Hessa Al Jaber becoming communication minister.

Sheikh Ahmed Bin Jassim Al Thani resigned as director of the government-controlled Al Jazeera television network, a post he had held for two years, to become minister of economy and trade in the new cabinet.

* Reporting by Reuters, Agence France-Presse and Wam

Meatless Days
Sara Suleri, with an introduction by Kamila Shamsie
​​​​​​​Penguin 

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Match info:

Real Betis v Sevilla, 10.45pm (UAE)

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Tax authority targets shisha levy evasion

The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.

Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".

The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.

He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.

"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.

As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.

the pledge

I pledge to uphold the duty of tolerance

I pledge to take a first stand against hate and injustice

I pledge to respect and accept people whose abilities, beliefs and culture are different from my own

I pledge to wish for others what I wish for myself

I pledge to live in harmony with my community

I pledge to always be open to dialogue and forgiveness

I pledge to do my part to create peace for all

I pledge to exercise benevolence and choose kindness in all my dealings with my community

I pledge to always stand up for these values: Zayed's values for tolerance and human fraternity

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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Fanney Khan

Producer: T-Series, Anil Kapoor Productions, ROMP, Prerna Arora

Director: Atul Manjrekar

Cast: Anil Kapoor, Aishwarya Rai, Rajkummar Rao, Pihu Sand

Rating: 2/5 

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.”

The Byblos iftar in numbers

29 or 30 days – the number of iftar services held during the holy month

50 staff members required to prepare an iftar

200 to 350 the number of people served iftar nightly

160 litres of the traditional Ramadan drink, jalab, is served in total

500 litres of soup is served during the holy month

200 kilograms of meat is used for various dishes

350 kilograms of onion is used in dishes

5 minutes – the average time that staff have to eat
 

Film: Raid
Dir: Rajkumar Gupta
Starring: Ajay Devgn, Ileana D'cruz and Saurabh Shukla

Verdict:  Three stars 

The National in Davos

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