Prime Minister Rishi Sunak addresses guests at a Diwali reception with business leaders in London on Thursday. Getty Images
Prime Minister Rishi Sunak addresses guests at a Diwali reception with business leaders in London on Thursday. Getty Images
Prime Minister Rishi Sunak addresses guests at a Diwali reception with business leaders in London on Thursday. Getty Images
Prime Minister Rishi Sunak addresses guests at a Diwali reception with business leaders in London on Thursday. Getty Images

Rishi Sunak vows 'hard-headed' foreign policy on conflict


Soraya Ebrahimi
  • English
  • Arabic

Prime Minister Rishi Sunak is set to outline his vision for a “hard-headed” approach to foreign policy on Monday amid wars in the Middle East and Ukraine.

Mr Sunak will promise to intensify British efforts to work towards a two-state solution for Israel and Palestine.

“The UK wrote the original UN resolutions setting out a two-state solution. We’ve argued for it for decades. But now we must help make it a reality,” he will say.

“So, to the UK’s friends across the region and to our communities in this country, I pledge to redouble British efforts to this end.”

Mr Sunak will seek to defend British values from adversaries and highlight his record on forging international partnership on defence, trade and migration.

Claiming to represent a change from his Conservative predecessors, he will pledge to leave behind “past dogmas, assumptions and structures” in dealing with other nations, Downing Street said.

In a major foreign policy speech on Monday, Mr Sunak will tell international dignitaries and business leaders: “In these dangerous times, we’re not just defending a better vision of the future against those who would destroy it, we’re marshalling our expertise, our people and our alliances to bring that future into being.

“So, we’ll continue to stand up for what is right … and show that our values will prevail.”

Calling 2023 “one of the most significant years” for UK foreign policy in recent times, he will talk of the signing of the Windsor Framework with the EU, the update of British foreign and security policy and the announcement of plans for a new generation of nuclear-powered submarines under the Aukus partnership with the US and Australia.

Britain also struck migration deals with France, Italy and Albania, confirmed its accession to a major Indo-Pacific trade bloc and hosted an international summit on artificial intelligence safety.

The Windsor Framework trading arrangements were regarded as a key step in improving post-Brexit relations, after the more combative approaches taken by Mr Sunak’s predecessors, Boris Johnson and Liz Truss.

Rishi Sunak's first year as Prime Minister – in pictures

In his speech at the annual Lord Mayor’s Banquet in London’s Guildhall, Mr Sunak will say: “These treaties and alliances speak to something deeper: our willingness to act, to shape the world, not be shaped by it, wherever there’s a challenge, wherever there’s a threat, wherever we can promote peace and security.”

He will say that while Britain is pragmatic in its foreign policy approach, it is a time for “moral clarity”, noting its support for Kyiv in its struggle against Russia’s invasion and humanitarian support for civilians in Gaza amid the Israel-Gaza war.

“We’re hard-headed about what’s necessary for our interests and security. But Britain’s realism has always had values and this is a moment for moral clarity,” he will say.”

He is expected to say that Britain will never “lose patience” in backing Ukraine, calling Russian President Vladimir Putin’s invasion a “self-inflicted, strategic calamity” that he “cannot win”.

Mr Sunak faces calls to sack his Home Secretary Suella Braverman after she was accused of inflaming tensions over a pro-Palestinian march in London.

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Buy farm-fresh food

The UAE is stepping up its game when it comes to platforms for local farms to show off and sell their produce.

In Dubai, visit Emirati Farmers Souq at The Pointe every Saturday from 8am to 2pm, which has produce from Al Ammar Farm, Omar Al Katri Farm, Hikarivege Vegetables, Rashed Farms and Al Khaleej Honey Trading, among others. 

In Sharjah, the Aljada residential community will launch a new outdoor farmers’ market every Friday starting this weekend. Manbat will be held from 3pm to 8pm, and will host 30 farmers, local home-grown entrepreneurs and food stalls from the teams behind Badia Farms; Emirates Hydroponics Farms; Modern Organic Farm; Revolution Real; Astraea Farms; and Al Khaleej Food. 

In Abu Dhabi, order farm produce from Food Crowd, an online grocery platform that supplies fresh and organic ingredients directly from farms such as Emirates Bio Farm, TFC, Armela Farms and mother company Al Dahra. 

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House-hunting

Top 10 locations for inquiries from US house hunters, according to Rightmove

  1. Edinburgh, Scotland 
  2. Westminster, London 
  3. Camden, London 
  4. Glasgow, Scotland 
  5. Islington, London 
  6. Kensington and Chelsea, London 
  7. Highlands, Scotland 
  8. Argyll and Bute, Scotland 
  9. Fife, Scotland 
  10. Tower Hamlets, London 

 

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Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
ETFs explained

Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.

ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.

There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.

Tributes from the UAE's personal finance community

• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style

“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.

Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term. 

From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”

• Sam Instone, director of financial advisory firm AES International

"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed.  Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."

• Demos Kyprianou, a board member of SimplyFI.org

"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."

• Steve Cronin, founder of DeadSimpleSaving.com

"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.

His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.

Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."

• Zach Holz, who blogs about financial independence at The Happiest Teacher

"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen.  He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”

• Tuan Phan, a board member of SimplyFI.org

"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."

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Updated: November 13, 2023, 4:59 AM