Palestinian President Mahmoud Abbas attends the dedication of the new Palestinian Embassy in Abu Dhabi. Sammy Dallal / The National
Palestinian President Mahmoud Abbas attends the dedication of the new Palestinian Embassy in Abu Dhabi. Sammy Dallal / The National
Palestinian President Mahmoud Abbas attends the dedication of the new Palestinian Embassy in Abu Dhabi. Sammy Dallal / The National
Palestinian President Mahmoud Abbas attends the dedication of the new Palestinian Embassy in Abu Dhabi. Sammy Dallal / The National

UAE committed to Palestinian state with East Jerusalem as its capital


Mina Aldroubi
  • English
  • Arabic

As a momentous year draws to a close, The National is running a series of articles examining the impact of the growing diplomatic strength of the UAE.

Over the next few days, we will examine the country’s growing international influence, be it through the soft power of culture and connectivity, or strengthening ties within the GCC and further around the globe.

This nation has never had a more prominent position in the world – and this series will explain how it was achieved, why it matters and what lies ahead.

The UAE remains committed to supporting a sovereign Palestinian state with East Jerusalem as its capital on territory captured by Israel in the 1967 war.

Abu Dhabi has continuously reiterated its unequivocal position towards the Palestinian cause and its support for the Palestinian people in restoring their legitimate rights in line with international resolutions and the Arab Peace Initiative.

“The UAE supports peace efforts in Palestine and a solution that is based on the 1967 borders,” Anwar Gargash, UAE Minister for Foreign Affairs said in November.

Since December 2017, Arab states have been attempting to counter US President Donald Trump’s move to recognise Jerusalem as Israel’s capital, a decision that overturned decades of American policy on the Middle East.

Mr Trump’s recognition of Jerusalem has infuriated the Arab world and upset Western allies, who say it is a blow to peace efforts and risks sparking more violence in the region.

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The UAE and other Arab states consider East Jerusalem, which Israel annexed after capturing it from Jordan in a 1967 war, to be occupied territory, and say the status of the city should be decided at future Israeli-Palestinian talks.

"A US peace plan must clearly set-out as an end goal a two-state solution in line with established final status parameters, past UN resolutions, and international law," Hugh Lovatt, a policy fellow at the European Council on Foreign Relations, told The National.

Relations between the two states have been historical and vital for the stability of the region, Nabil Shaath advisor to Palestinian President Mahmoud Abbas told The National.

“It’s a historical relation that started with Sheikh Zayed and Yaser Arafat and, it’s a strategic relationship based on support and alliance and has always been like that,” Mr Shaath said.

“The relationship with the United Arab Emirates and our brotherly Arab countries have to always be close and important because of our joint aspirations, history and interests, now and in the future,” Mr Shaath said.

UAE Humanitarian assistance to Palestine

The United Nations agency for Palestinian refugees has thanked the UAE, other Gulf countries and the European Union for their contributions after their budget shortfall fell drastically despite US funding cuts earlier this year.

In August, US President Donald Trump slashed the entirety of Washington's aid to the agency that helps millions of Palestinians displaced after the creation of Israel in 1948, leaving it facing its biggest crisis in its existence.

UNRWA Commissioner General Pierre Krahenbuhl thanked in particular Saudi Arabia, the United Arab Emirates and Kuwait, saying they had helped to plug the deficit by contributing $50 million each.

The UAE's total contribution to UNRWA in 2017 was $26.7 million, which includes contributions from the UAE government, as well as from UAE organizations like the Khalifa Bin Zayed Al Nahyan Foundation, UAE Red Crescent, and Dubai Cares to UNRWA.

Additionally, the UAE also contributed $98.7 million in bilateral aid to Palestine in 2017.

Overall, in 2017 the UAE sources contributed more than $125 million in support of the Palestinian people.

Since the beginning of 2018, the UAE has pledged an additional $75 million for Palestine, including $50 million to UNRWA.

"In addition to our ongoing and substantial financial support to the Palestinian people, the UAE is strongly supportive of the ongoing efforts by the international community to address the root causes of this protracted conflict and to restart a political dialogue for peace," Lana Nusseibeh, the Ambassador and Permanent Representative of the UAE to the UN said in July 2018.

More from Armen Sarkissian
Titanium Escrow profile

Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue  
Stage: Early stage
Investors: Founder's friends and Family

UAE cricketers abroad

Sid Jhurani is not the first cricketer from the UAE to go to the UK to try his luck.

Rameez Shahzad Played alongside Ben Stokes and Liam Plunkett in Durham while he was studying there. He also played club cricket as an overseas professional, but his time in the UK stunted his UAE career. The batsman went a decade without playing for the national team.

Yodhin Punja The seam bowler was named in the UAE’s extended World Cup squad in 2015 despite being just 15 at the time. He made his senior UAE debut aged 16, and subsequently took up a scholarship at Claremont High School in the south of England.

The specs: 2018 Nissan Altima


Price, base / as tested: Dh78,000 / Dh97,650

Engine: 2.5-litre in-line four-cylinder

Power: 182hp @ 6,000rpm

Torque: 244Nm @ 4,000rpm

Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.8-litre%204-cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E190hp%20at%205%2C200rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20320Nm%20from%201%2C800-5%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%3C%2Fstrong%3E%206.7L%2F100km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh111%2C195%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

Bugatti Chiron Super Sport - the specs:

Engine: 8.0-litre quad-turbo W16 

Transmission: 7-speed DSG auto 

Power: 1,600hp

Torque: 1,600Nm

0-100kph in 2.4seconds

0-200kph in 5.8 seconds

0-300kph in 12.1 seconds

Top speed: 440kph

Price: Dh13,200,000

Bugatti Chiron Pur Sport - the specs:

Engine: 8.0-litre quad-turbo W16 

Transmission: 7-speed DSG auto 

Power: 1,500hp

Torque: 1,600Nm

0-100kph in 2.3 seconds

0-200kph in 5.5 seconds

0-300kph in 11.8 seconds

Top speed: 350kph

Price: Dh13,600,000

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.”

%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Nag%20Ashwin%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EPrabhas%2C%20Saswata%20Chatterjee%2C%20Deepika%20Padukone%2C%20Amitabh%20Bachchan%2C%20Shobhana%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E%E2%98%85%E2%98%85%E2%98%85%E2%98%85%3C%2Fp%3E%0A
Honeymoonish
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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
COMPANY%20PROFILE
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'THE WORST THING YOU CAN EAT'

Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.

Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines: 

Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.

Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.

Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.

Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.

Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.