• First Minister of Northern Ireland, Michelle O'Neill, and Deputy First Minister of Northern Ireland, Emma Little-Pengelly, greet British Prime Minister Rishi Sunak and Northern Ireland Secretary Chris Heaton-Harris at Stormont Castle in Belfast. Getty Images
    First Minister of Northern Ireland, Michelle O'Neill, and Deputy First Minister of Northern Ireland, Emma Little-Pengelly, greet British Prime Minister Rishi Sunak and Northern Ireland Secretary Chris Heaton-Harris at Stormont Castle in Belfast. Getty Images
  • Rishi Sunak tours the Assembly Chamber with Northern Ireland Assembly speaker Edwin Poots and Chris Heaton-Harris in Stormont. AFP
    Rishi Sunak tours the Assembly Chamber with Northern Ireland Assembly speaker Edwin Poots and Chris Heaton-Harris in Stormont. AFP
  • Rishi Sunak meets with Edwin Poots at Stormont. Reuters
    Rishi Sunak meets with Edwin Poots at Stormont. Reuters
  • Mr Poots, Mr Sunak and Mr Heaton-Harris arrive at Parliament Buildings. AFP
    Mr Poots, Mr Sunak and Mr Heaton-Harris arrive at Parliament Buildings. AFP
  • Rishi Sunak during a visit to Air Ambulance Northern Ireland at their headquarters in Lisburn. PA
    Rishi Sunak during a visit to Air Ambulance Northern Ireland at their headquarters in Lisburn. PA

Sunak tells Northern Ireland leaders to focus on day to day not referendum


Gillian Duncan
  • English
  • Arabic

UK Prime Minister Rishi Sunak said the "real work starts now" as he told ministers in Northern Ireland to focus on day-to-day issues, not constitutional change, during a visit to the region on Monday.

The region’s government returned to work after a two-year impasse on Saturday, with Michelle O'Neill becoming its first leader from the Irish republican side.

Power-sharing was halted after Democratic Unionist Party (DUP) walked out in February 2022 in protest against post-Brexit trading arrangements, which it said undermined Northern Ireland’s place in the UK.

Under power-sharing rules, the administration in Belfast must include British unionists and Irish nationalists.

The party was coaxed into returning last week after the UK promised to eliminate most checks on goods moving to Northern Ireland from Britain.

Mr Sunak has insisted the priority now for leaders at Stormont should be delivering on the "day-to-day" concerns of people in Northern Ireland, not the possibility of a referendum on reunification with the republic of Ireland..

Speaking to broadcasters on a visit to Belfast, the Prime Minister dismissed any focus on a border poll after Ms O'Neill claimed one could be held in the next 10 years.

He said: "I had very constructive meetings this morning with the Executive, with political leaders across Stormont, and it is a historic and important day for the country, because Northern Ireland's politicians are back in charge, making decisions on behalf of their people, which is exactly how it should be.

"Now, our new deal gives them more funding and more powers than they have ever had, so they can deliver for families and businesses across Northern Ireland. And that's what everyone's priority is now.

"It is not constitutional change, it is delivering on the day-to-day things that matter to people."

Taoiseach Leo Varadkar, who was also at Stormont on Monday to mark the restoration of devolution, said Monday was about marking the return of power-sharing.

"Today is about marking the fact that the Good Friday Agreement, which we voted for in big numbers, north and south, is now functioning again," said Mr Varadkar, who has said he believes there will be a united Ireland in his lifetime.

"The Assembly is operating, the Executive, and hopefully the north-south [Implementation] bodies and ministerial council soon. I think today should be really about that rather than constitutional questions."

Visiting a school, Mr Sunak said the "future is undeniably brighter" for the children of Northern Ireland.

The DUP boycott left Northern Ireland’s 1.9 million people without a functioning administration to make key decisions as the cost of living soared and backlogs strained the creaking public health system.

Taoiseach Leo Varadkar meeting members of the newly formed Executive at Stormont Castle. PA
Taoiseach Leo Varadkar meeting members of the newly formed Executive at Stormont Castle. PA

Earlier, Northern Ireland Secretary Chris Heaton-Harris, who accompanied Mr Sunak on his visit, rejected claims by Stormont ministers that better funding is needed from the UK government as power-sharing returns.

The cabinet minister insisted the £3.3 billion ($4.14 billion) package offered by Westminster was "ample" for the Executive to "get on with the job".

But the Belfast administration says it is not enough.

Deputy First Minister Emma Little-Pengelly, of the DUP, said the ministers in Belfast would be “seeking to ensure the UK government provides sufficient funding in a package to fulfil its promises on public sector pay”.

Prime Minister Rishi Sunak and Northern Ireland Secretary Chris Heaton-Harris meet First Minister Michelle O'Neill, Deputy First Minister Emma Little-Pengelly and members of the newly formed Stormont Executive. PA
Prime Minister Rishi Sunak and Northern Ireland Secretary Chris Heaton-Harris meet First Minister Michelle O'Neill, Deputy First Minister Emma Little-Pengelly and members of the newly formed Stormont Executive. PA

'Very positive day'

The UK and the Republic of Ireland both act as guarantors of the landmark Good Friday peace agreement.

Mr Varadkar described it as a "very positive day".

The two leaders met for a bilateral meeting at Parliament Buildings and Mr Sunak travelled the short distance to Stormont Castle for a meeting with Northern Ireland's first nationalist First Minister, Sinn Fein's Michelle O'Neill, and her DUP counterpart, deputy First Minister Emma Little-Pengelly.

As the meeting got under way inside the castle, Mr Sunak told the joint heads of the ministerial executive: "It has taken a lot of hard work and indeed courage to get us sitting round this table.

"Today isn't the end; it's the beginning, and the real work starts now."

Sinn Fein leader Mary Lou McDonald said "change is all around and must be managed" following her meeting with Mr Sunak.

Ms McDonald posted a picture of herself and new First Minister Michelle O'Neill meeting Mr Sunak and Northern Ireland Secretary Chris Heaton-Harris.

She said: "Early meeting with @10DowningStreet @RishiSunak in advance of first Executive.

"Change is all around and must be managed.

"Shared commitment to partnership and respect at heart of progress."

The new administration is led by Ms O’Neill of Sinn Fein, the party allied with the Irish Republican Army during Northern Ireland’s decades of violence known as The Troubles.

Her appointment was historic, marking the first time an Irish nationalist, who aspires to take Northern Ireland out of the UK and unite it with the republic, has held the post.

In practice, nationalists and unionists will continue to govern in uneasy balance.

The post of deputy first minister – held by Ms Little-Pengelly of the DUP – is officially equal to the first minister, and neither can govern without the other.

What is Folia?

Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.

Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."

Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.

In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love". 

There are also plans to take Folia to several more locations throughout the Middle East and Europe.

While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."

HIJRA

Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy

Director: Shahad Ameen

Rating: 3/5

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Score

New Zealand 266 for 9 in 50 overs
Pakistan 219 all out in 47.2 overs 

New Zealand win by 47 runs

New Zealand lead three-match ODI series 1-0

Next match: Zayed Cricket Stadium, Abu Dhabi, Friday

Who is Allegra Stratton?

 

  • Previously worked at The Guardian, BBC’s Newsnight programme and ITV News
  • Took up a public relations role for Chancellor Rishi Sunak in April 2020
  • In October 2020 she was hired to lead No 10’s planned daily televised press briefings
  • The idea was later scrapped and she was appointed spokeswoman for Cop26
  • Ms Stratton, 41, is married to James Forsyth, the political editor of The Spectator
  • She has strong connections to the Conservative establishment
  • Mr Sunak served as best man at her 2011 wedding to Mr Forsyth
A cryptocurrency primer for beginners

Cryptocurrency Investing  for Dummies – by Kiana Danial 

There are several primers for investing in cryptocurrencies available online, including e-books written by people whose credentials fall apart on the second page of your preferred search engine. 

Ms Danial is a finance coach and former currency analyst who writes for Nasdaq. Her broad-strokes primer (2019) breaks down investing in cryptocurrency into baby steps, while explaining the terms and technologies involved.

Although cryptocurrencies are a fast evolving world, this  book offers a good insight into the game as well as providing some basic tips, strategies and warning signs.

Begin your cryptocurrency journey here. 

Available at Magrudy’s , Dh104 

The biog

Born: Kuwait in 1986
Family: She is the youngest of seven siblings
Time in the UAE: 10 years
Hobbies: audiobooks and fitness: she works out every day, enjoying kickboxing and basketball

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Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

UAE currency: the story behind the money in your pockets

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.”

Updated: February 05, 2024, 2:31 PM