• The Prime Minister of Bulgaria receives Sheikh Abdullah bin Zayed. WAM
    The Prime Minister of Bulgaria receives Sheikh Abdullah bin Zayed. WAM
  • Sheikh Abdullah bin Zayed inaugurates the Embassy of the State of Bulgaria. WAM
    Sheikh Abdullah bin Zayed inaugurates the Embassy of the State of Bulgaria. WAM
  • Sheikh Abdullah bin Zayed says the biggest challenge to the people of darkness is success. WAM
    Sheikh Abdullah bin Zayed says the biggest challenge to the people of darkness is success. WAM
  • Sheikh Abdullah bin Zayed speaking in Bulgaria. Wam
    Sheikh Abdullah bin Zayed speaking in Bulgaria. Wam
  • Sheikh Abdullah bin Zayed in Bulgaria. Wam
    Sheikh Abdullah bin Zayed in Bulgaria. Wam
  • Sheikh Abdullah bin Zayed visits the National Historical Museum in Bulgaria. WAM
    Sheikh Abdullah bin Zayed visits the National Historical Museum in Bulgaria. WAM
  • Sheikh Abdullah bin Zayed visits the National Historical Museum in Bulgaria. WAM
    Sheikh Abdullah bin Zayed visits the National Historical Museum in Bulgaria. WAM
  • Sheikh Abdullah bin Zayed visits the National Historical Museum in Bulgaria. WAM
    Sheikh Abdullah bin Zayed visits the National Historical Museum in Bulgaria. WAM
  • Sheikh Abdullah bin Zayed visits the National Historical Museum in Bulgaria. WAM
    Sheikh Abdullah bin Zayed visits the National Historical Museum in Bulgaria. WAM
  • Sheikh Abdullah bin Zayed visits the National Historical Museum in Bulgaria. WAM
    Sheikh Abdullah bin Zayed visits the National Historical Museum in Bulgaria. WAM

Sheikh Abdullah calls for joint de-escalation efforts after tanker attacks


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A joint effort is needed to spare the region from escalation, Sheikh Abdullah bin Zayed said on Saturday after a second attack on oil tankers in just over a month heightened fears of a new conflict.

"Real regional security and stability will only be attained when regional actors work together. Our region is the main energy supplier to the world; our safety and security is key to ensuring prosperity and stability for all," the UAE Minister of Foreign Affairs and International Co-operation said during a visit to Bulgaria.

"We must work together to spare the region from escalation, and give the voice of wisdom a chance."

The United States has accused Iranian forces of the attacks on two tankers in the Gulf of Oman on Thursday, and says Iran was also behind the explosions that sabotaged four tankers off the UAE coast on May 12. Tehran denies any involvement in the incidents, which come as tensions mount over stringent sanctions the US imposed on Iran after pulling out of the 2015 nuclear deal last year.

The US military on Friday released drone footage that it said showed an Iranian patrol boat removing an "unexploded limpet mine" from one of the tankers attacked on Thursday.

  • Fire and smoke billows from a tanker that attacked in the waters of the Gulf of Oman. AFP
    Fire and smoke billows from a tanker that attacked in the waters of the Gulf of Oman. AFP
  • One of the tankers on fire in the Gulf of Oman. AP Photo
    One of the tankers on fire in the Gulf of Oman. AP Photo
  • Firefighters work to entinguish the fire aboard the crude oil tanker 'Front Altair'. EPA
    Firefighters work to entinguish the fire aboard the crude oil tanker 'Front Altair'. EPA
  • A handout photo made available by the Norwegian shipowner Frontline shows the damaged crude oil tanker 'Front Altair' in the Gulf of Oman. EPA
    A handout photo made available by the Norwegian shipowner Frontline shows the damaged crude oil tanker 'Front Altair' in the Gulf of Oman. EPA
  • The Front Altair on fire in the Gulf of Oman. EPA
    The Front Altair on fire in the Gulf of Oman. EPA
  • A US military handout video purports to show Iran's Revolutionary Guard (IRGC) removing an unexploded limpet mine from the side of the Kokuka Courageous Tanker. Reuters
    A US military handout video purports to show Iran's Revolutionary Guard (IRGC) removing an unexploded limpet mine from the side of the Kokuka Courageous Tanker. Reuters
  • Sentinel satellite image shows a plume of smoke coming from the Front Altair tanker. Reuters
    Sentinel satellite image shows a plume of smoke coming from the Front Altair tanker. Reuters
  • The Norwegian crude oil tanker Front Altair at the port of Muuga, Estonia, on April 29, 2018. EPA
    The Norwegian crude oil tanker Front Altair at the port of Muuga, Estonia, on April 29, 2018. EPA
  • epa07645393 A picture provided by Alexander Demin shows the tanker Kokuka Courageous in Singapore. EPA
    epa07645393 A picture provided by Alexander Demin shows the tanker Kokuka Courageous in Singapore. EPA
  • The locations of the Front Altair and Kokuka Courageous. Google Maps
    The locations of the Front Altair and Kokuka Courageous. Google Maps

Both ships, the Norwegian-owned Front Altair and the Japanese-owned Kokuka Courageous, were being towed to UAE ports on Saturday, according to their operators. The crew of both vessels were rescued and their cargoes were intact, although a section the Altair's hull caught fire.

Saudia Arabia's Crown Prince Mohamed bin Salman has also made his first comments since the incident.

"We do not want a war in the region... But we won't hesitate to deal with any threat to our people, our sovereignty, our territorial integrity and our vital interests," he told Asharq Al Awsat.

UN Secretary General Antonio Guterres has called for independent investigation to determine who carried out the attacks. “Responsibilities need to be clearly defined. The world cannot afford a major confrontation in the Gulf,” the UN chief said after a meeting in New York with Arab League chief Ahmed Aboul Gheit on Friday.

Mr Aboul Gheit likened the situation in the Gulf to a "powder keg".

"Any wrong move might lead to ramifications that would take us back to 20 or 30 years ago, and war, so we have to be careful,” he said.

UAE Minister of Foreign Affairs and International Co-operation Sheikh Abdullah bin Zayed has called for de-escalation efforts the the region. Reuters
UAE Minister of Foreign Affairs and International Co-operation Sheikh Abdullah bin Zayed has called for de-escalation efforts the the region. Reuters

The attacks on Thursday follow a pattern of escalation since the US announced in early May that it was increasing its military presence in the region to counter an unspecified Iranian threat to its interests and allies. Drone and missile attacks claimed by Iran-backed rebels in Yemen damaged Saudi oil infrastructure last month and a civilian airport on Wednesday. On Saturday, mortar rounds were fired towards a base used by US troops in Iraq, where Iran supports powerful Shiite militias. Last month, a shell landed near the US embassy in Baghdad.

Iranian president Hassan Rouhani meanwhile warned again that said Iran would stop abiding by the nuclear pact if other parties did not work to remove the restrictions on its economy as promised under the deal.

"Obviously, Iran cannot stick to this agreement unilaterally," Mr Rouhani told meeting of Russian, Chinese and other Asian leaders in Tajikistan on Saturday.

He said Iran needed to see "positive signals" from the other signatories to the pact besides the US – Russia, China, Britain, France and Germany – without specifying what these should be or what actions Iran would take otherwise.

The UAE has criticised Iran's response to the attacks on shipping and its alleged role, with Minister of State for Foreign Affairs Dr Anwar Gargash dismissing statements by Iranian Foreign Minister Mohammad Javad Zarif as a public relations exercise.

“Every single day Iran’s Foreign Minister Zarif’s reference to team B becomes more farcical & his credibility diminishing,” Dr Gargash said on Twitter, referring to Mr Zarif's use of the term "B Team" to denote US National Security Adviser John Bolton, Israeli Prime Minister Benjamin Netanyahu, Saudi Crown Prince Mohammed bin Salman and Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed.

“Public relations is no real substitute to constructive policies. De-escalation in current situation requires wise actions not empty words,” Dr Gargash said.

Speaking in Bulgaria, Sheikh Abdullah expressed regret that recent international efforts to find a solution to the crisis had failed.

"We hoped that the efforts of the Japanese Prime Minister Shinzo Abe would succeed. The German foreign minister was present a few days ago in the region, and we remain hopeful in attaining a broader framework for co-operation with Iran," he said in comments reported by the state news agency Wam.

"The P5+1 deal had two major flaws," Sheikh Abdullah said, referring to the 2015 nuclear pact. "The first being the lack of involvement with regional countries during the dialogue process. The second, not containing Iran's ballistic missiles capabilities and its interference in the internal affairs of neighbouring countries."

Sheikh Abdullah said that he and his Bulgarian counterpart Ekaterina Zaharieva had discussed the recent incidents in the Arabian Gulf and the Gulf of Oman, as well as the attacks on Saudi Arabia by Houthi militias on two pumping stations on the kingdom's East-West pipeline, and on the Abha International Airport.

"We are in a complex region that has many resources, whether gas or oil, that are necessary for the world. We want the flow of said resources to remain safe, and to ensure the stability of the global economy. We must also secure our peoples and our economies," he said.

He said evidence from the attacks on four oil tankers in the UAE's territorial waters last month showed capabilities "not present in illegal non-state actors or groups. These are disciplined processes carried out by a state. However, until now, there is insufficient evidence to point to a particular country."

The area in which the incidents took place has vital economic and geopolitical significance and interruptions like the four attacks could affect the global supply of oil, Sheikh Abdullah said, noting that there were some 184 oil and shipping vessels, among others, in the area at the time.

"This was a real threat to global maritime shipping," he said.

Meanwhile, the Front Altair's crew were flown to Dubai on Saturday aboard an Iran Air flight after being taken rescued and taken to Iran.

A report by the Norwegian insurer DNK said Iran’s navy “demanded that the crew were transferred to them” from the commercial vessel that rescued them and were taken to the Iranian port of Jask.

The crew of the Kokuka Courageous spent Thursday night aboard the destroyer USS Bainbridge before returning to their ship on Friday to help with it being towed.

Muslim Council of Elders condemns terrorism on religious sites

The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.

It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.

“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.

The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.

Trump v Khan

2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US

2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks

2019: Trump calls Khan a “stone cold loser” before first state visit

2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”

2022:  Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency

July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”

Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.

Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”

THE SPECS

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Torque: 240Nm

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

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The five pillars of Islam

1. Fasting

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3. Hajj

4. Shahada

5. Zakat 

Avatar: Fire and Ash

Director: James Cameron

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Rating: 4.5/5

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.”

INFO
Fixtures (6pm UAE unless stated)

Saturday Bournemouth v Leicester City, Chelsea v Manchester City (8.30pm), Huddersfield v Tottenham Hotspur (3.30pm), Manchester United v Crystal Palace, Stoke City v Southampton, West Bromwich Albion v Watford, West Ham United v Swansea City

Sunday Arsenal v Brighton (3pm), Everton v Burnley (5.15pm), Newcastle United v Liverpool (6.30pm)

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Castro (45'), Aspas (82')

Barcelona 2
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Red card: Sergi Roberto (Barcelona)

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Dominic Rubin, Oxford

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Richard Flanagan
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Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

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Name: Kumulus Water
 
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Founders: Iheb Triki and Mohamed Ali Abid
 
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Mansoor Al Shehail won the 50-man Battle Royal

The Undertaker beat Goldberg

 

Squid Game season two

Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

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  • £100m of government support for startups building AI hardware products
  • £250m to train new AI models
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It

Director: Andres Muschietti

Starring: Bill Skarsgard, Jaeden Lieberher, Sophia Lillis, Chosen Jacobs, Jeremy Ray Taylor

Three stars