UAE President Sheikh Mohamed attends banquet hosted by Emmanuel Macron


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President Sheikh Mohamed attended a banquet on Monday hosted by French counterpart Emmanuel Macron at the Palace of Versailles.

The event was held in honour of Sheikh Mohamed's visit to France.

During his first state visit, key energy agreements were signed as the allies bolstered their long-standing friendship.

"My dear friend, President Emmanuel Macron, I would like to extend thanks and appreciation for the warm welcome I received during my visit and the accompanying delegation to your country," Sheikh Mohamed said.

He said the ties between the Emirates and France were focused on confidence, credibility and mutual respect, state news agency Wam reported.

The foundations of the partnership were laid down by Sheikh Zayed, the Founding Father.

''It is true that we have political and economic ties, but our cultural co-operation represents our utmost collaboration and this mirrors the quality of this strategic partnership,'' Sheikh Mohamed said.

He expressed his confidence in shared efforts to establish peace and security across the globe.

'Historic visit' boosts ties

President Macron welcomed Sheikh Mohamed on his landmark visit.

"I am pleased that you have chosen France to be your first state visit after being elected as President of the UAE. I appreciate your interest and realise how important it is," President Macron said.

He described the visit as "historic" and referenced the last visit paid by Sheikh Zayed during the era of François Mitterrand, a former president of France.

''This was 30 years ago and since then we have come a long way, as the relations became a partnership and then moved to an alliance that was strengthened by friendship between the two countries," President Macron said.

He also spoke of the significance of an enduring partnership based on "loyalty and reliability" and hailed Sheikh Mohamed's key role in addressing international challenges.

"Through your new presidential duties, you will continue your efforts to make the UAE a strong, stable, diversified and growing economy and an influential member of the international arena in addressing global and regional challenges," he said.

"France has been and will remain a faithful friend to you to achieve this aspiration. Our relations are based on two main pillars: loyalty and reliability."

President Macron also touched on the cultural connections now binding the nations as well as growing links in trade and tourism.

"I welcome you to a land that you are familiar with. We share places that are symbolic for youth and culture with Abu Dhabi, including the Louvre Museum and the Sorbonne University.

"The UAE has also become a familiar and natural destination for the French people as more than 25,000 of its citizens chose the UAE as the destination for French ambition.'' Macron noted that ambition is at the core of the two countries' ties, as it is based on confidence and excellence, pointing to the tremendous success of the economic partnership in energy, infrastructure, transport and new technologies, thanks to joint and mutual investments.

''The joint ambition of the two sides today is to strengthen and diversify these successes.''

The French president hailed the signing of a comprehensive strategic partnership agreement across energy and renewable energy to help combat climate change.

He wished the UAE success in hosting the global climate change conference Cop28 in Dubai next year, praised its work on reaching green goals set by the Paris Agreement and welcomed co-operation in space exploration.

The banquet was attended by Sheikh Hazza bin Zayed, deputy chairman of Abu Dhabi Executive Council; Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of the Presidential Court; Sheikh Hamed bin Zayed, member of the Abu Dhabi Executive Council; Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation; Sheikh Hamdan bin Mohamed bin Zayed; Sheikh Mohammed bin Hamad bin Tahnoun, adviser for special affairs at the Ministry of Presidential Court; Sheikh Khalifa bin Tahnoon bin Mohammed, executive director of Martyrs' Families' Affairs Office at the Abu Dhabi Crown Prince’s Court; Dr Sultan Al Jaber, Minister of Industry and Advanced Technology; Noura Al Kaabi, Minister of Culture and Youth; Mariam Al Mheiri, Minister of Climate Change and the Environment; Shamma Al Mazrouei, Minister of State for Youth Affairs; Dr Anwar Gargash, diplomatic adviser to the UAE President; Zaki Nusseibeh, cultural adviser to the UAE President; Ali bin Hammad Al Shamsi, deputy secretary general of the Supreme National Security Council; Khaldoun Khalifa Al Mubarak, chairman of the Executive Affairs Authority and member of the Executive Council; Mohamed Mubarak Al Mazrouei, adviser at the Presidential Court; and Hend Al Otaiba, UAE ambassador to France.

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Starring: Hani Razmzi, Maya Nasir and Hassan Hosny

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MATCH INFO

Norwich City 0 Southampton 3 (Ings 49', Armstrong 54', Redmond 79')

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UAE SQUAD

Omar Abdulrahman (Al Hilal), Ali Khaseif, Ali Mabkhout, Salem Rashed, Khalifa Al Hammadi, Khalfan Mubarak, Zayed Al Ameri, Mohammed Al Attas (Al Jazira), Khalid Essa, Ahmed Barman, Ryan Yaslam, Bandar Al Ahbabi (Al Ain), Habib Fardan, Tariq Ahmed, Mohammed Al Akbari (Al Nasr), Ali Saleh, Ali Salmin (Al Wasl), Adel Al Hosani, Ali Hassan Saleh, Majed Suroor (Sharjah), Ahmed Khalil, Walid Abbas, Majed Hassan, Ismail Al Hammadi (Shabab Al Ahli), Hassan Al Muharrami, Fahad Al Dhahani (Bani Yas), Mohammed Al Shaker (Ajman)

RESULT

Deportivo La Coruna 2 Barcelona 4
Deportivo:
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How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
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  • Fly it within visual line of sight
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  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
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1) Kepa Arrizabalaga, Athletic Bilbao to Chelsea (£72m)

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4) Gianluigi Buffon, Parma to Juventus (£33m)

5) Angelo Peruzzi, Inter Milan to Lazio (£15.7m

Asia Cup Qualifier

Venue: Kuala Lumpur

Result: Winners play at Asia Cup in Dubai and Abu Dhabi in September

Fixtures:

Wed Aug 29: Malaysia v Hong Kong, Nepal v Oman, UAE v Singapore

Thu Aug 30: UAE v Nepal, Hong Kong v Singapore, Malaysia v Oman

Sat Sep 1: UAE v Hong Kong, Oman v Singapore, Malaysia v Nepal

Sun Sep 2: Hong Kong v Oman, Malaysia v UAE, Nepal v Singapore

Tue Sep 4: Malaysia v Singapore, UAE v Oman, Nepal v Hong Kong

Thu Sep 6: Final

 

Asia Cup

Venue: Dubai and Abu Dhabi

Schedule: Sep 15-28

Teams: Afghanistan, Bangladesh, India, Pakistan, Sri Lanka, plus the winner of the Qualifier

UAE squad

Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.

UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

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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.”

UAE currency: the story behind the money in your pockets
Indoor cricket in a nutshell

Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

Side nets between halfway and the bowlers end: 2 runs

Back net: 4 runs on the bounce, 6 runs on the full

Meydan race card

6.30pm: Maiden; Dh165,000; (Dirt) 1,200m
7.05pm: Handicap; Dh170,000; (D) 1,200m​​​​​​​
7.40pm: Maiden; Dh165,000; (D) 1,900m​​​​​​​
8.15pm: Handicap; Dh185,000; (D) 2,000m​​​​​​​​​​​​​​
8.50pm: Handicap; Dh185,000; (D) 1,600m​​​​​​​
9.25pm: Handicap; Dh165,000; (D) 2,000m

Bharatanatyam

A ancient classical dance from the southern Indian state of Tamil Nadu. Intricate footwork and expressions are used to denote spiritual stories and ideas.

All you need to know about Formula E in Saudi Arabia

What The Saudia Ad Diriyah E-Prix

When Saturday

Where Diriyah in Saudi Arabia

What time Qualifying takes place from 11.50am UAE time through until the Super Pole session, which is due to end at 12.55pm. The race, which will last for 45 minutes, starts at 4.05pm.

Who is competing There are 22 drivers, from 11 teams, on the grid, with each vehicle run solely on electronic power.

Key products and UAE prices

iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229

iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649

iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179

Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.

Intercontinental Cup

Namibia v UAE Saturday Sep 16-Tuesday Sep 19

Table 1 Ireland, 89 points; 2 Afghanistan, 81; 3 Netherlands, 52; 4 Papua New Guinea, 40; 5 Hong Kong, 39; 6 Scotland, 37; 7 UAE, 27; 8 Namibia, 27

WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

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Director: Spike Lee

Starring: John David Washington; Adam Driver 

Five stars

RACE RESULTS

1. Valtteri Bottas (FIN/Mercedes) 1hr 21min 48.527sec
2. Sebastian Vettel (GER/Ferrari) at 0.658sec
3. Daniel Ricciardo (AUS/Red Bull) 6.012 
4. Lewis Hamilton (GBR/Mercedes) 7.430
5. Kimi Räikkönen (FIN/Ferrari) 20.370
6. Romain Grosjean (FRA/Haas) 1:13.160
7. Sergio Pérez (MEX/Force India) 1 lap
8. Esteban Ocon (FRA/Force India) 1 lap
9. Felipe Massa (BRA/Williams) 1 lap
10. Lance Stroll (CAN/Williams) 1 lap
11. Jolyon Palmer (GBR/Renault) 1 lap
12. Stoffel Vandoorne (BEL/McLaren) 1 lap
13. Nico Hülkenberg (GER/Renault) 1 lap
14. Pascal Wehrlein (GER/Sauber) 1 lap
15. Marcus Ericsson (SWE/Sauber) 2 laps
16. Daniil Kvyat (RUS/Toro Rosso) 3 laps

Opening day UAE Premiership fixtures, Friday, September 22:

  • Dubai Sports City Eagles v Dubai Exiles
  • Dubai Hurricanes v Abu Dhabi Saracens
  • Jebel Ali Dragons v Abu Dhabi Harlequins
Specs – Taycan 4S
Engine: Electric

Transmission: 2-speed auto

Power: 571bhp

Torque: 650Nm

Price: Dh431,800

Specs – Panamera
Engine: 3-litre V6 with 100kW electric motor

Transmission: 2-speed auto

Power: 455bhp

Torque: 700Nm

Price: from Dh431,800

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Updated: July 20, 2022, 7:13 AM`