Dr Anwar Gargash, diplomatic adviser to the President, at the ninth Abu Dhabi Strategic Debate at Emirates Palace. Victor Besa / The National
Dr Anwar Gargash, diplomatic adviser to the President, at the ninth Abu Dhabi Strategic Debate at Emirates Palace. Victor Besa / The National
Dr Anwar Gargash, diplomatic adviser to the President, at the ninth Abu Dhabi Strategic Debate at Emirates Palace. Victor Besa / The National
Dr Anwar Gargash, diplomatic adviser to the President, at the ninth Abu Dhabi Strategic Debate at Emirates Palace. Victor Besa / The National

UAE has no interest in choosing sides between great powers, says Anwar Gargash


Anjana Sankar
  • English
  • Arabic

The UAE will not take sides between nations but will engage with multiple partners to maintain its security and sovereignty, Dr Anwar Gargash, diplomatic adviser to the President, said on Monday.

“The UAE has no interest in choosing sides between great powers,” Dr Gargash said, in his address at the Abu Dhabi Strategic Debate at Emirates Palace.

“Indeed, it is the central principle … that we will not, under any circumstances, sacrifice our sovereignty.

“Our primary strategic security relationship remains unequivocally with the United States.”

It is vital, as we navigate our way through these turbulent times in global politics, that all countries take a measured approach
Dr Anwar Gargash

He said the UAE will pursue a “multilayer approach” as a key foreign policy principle and maintain “balanced and diversified economic partnerships in a multipolar world”.

“The President [Sheikh Mohamed] understands that we are more secure because we do not rely on just one pillar for our security,” Dr Gargash said.

The two-day conference, which started today, will discuss key developments including the Ukraine war, regional conflicts, and the changing world order.

Dr Gargash said the partnership between the UAE and the US has been “close and mutually beneficial for decades” and they continue to value it greatly.

“Yet, it is vital that we find a way to ensure that we can rely on this relationship for decades to come through clear, codified and unambivalent commitments,” he said.

Listing key principles that drive the UAE’s foreign policy under Sheikh Mohamed, Dr Gargash said it welcomes constructive and collaborative engagement with other countries on promoting security and stability in the region.

“This multilayered approach is not only key for national security, but by avoiding complete dependence on just one or two other countries, it also ensures we retain our autonomy as a sovereign state,” he said.

“Currently, we are not dependent on just one or two countries for both our economic prosperity and our security. Our trade relations increasingly look to the East, while our primary security and investment relations in the West.

“This situation may evolve over time.”

Political resolution in Ukraine

He said one of the key principles of its foreign policy is also to build the capabilities of the UAE defence forces.

“We have witnessed how important it has been on various occasions, including when the terrorists attacked our country earlier this year,” said Dr Gargash, referring to the Houthi attack on UAE soil in January.

The Houthis, a Shiite militia backed by Iran, claimed responsibility for the missile and drone attack that killed three people at an Adnoc oil facility.

Ukrainian serviceman stand in attention during Ukrainian President Zelensky's visit to the newly liberated city of Kherson on November 14, 2022. AFP
Ukrainian serviceman stand in attention during Ukrainian President Zelensky's visit to the newly liberated city of Kherson on November 14, 2022. AFP

Speaking about the ongoing war in Ukraine, Dr Gargash said the UAE firmly believes that only a political agreement will resolve the conflict.

He said the UAE has viewed the situation in Ukraine from a principled position aligned with international law with respect of national sovereignty.

“We have tried to help keep the door open for dialogue,” he said.

“It is vital as we navigate our way through these turbulent times in global politics, that all countries take a measured approach, abide by international law and invest seriously in seeking diplomatic solutions to the crisis.

“If we built into this, the fallout will be devastating and it cannot be contained to one or two countries.

“We must also ensure that an increasingly multipolar world and with rising tensions between great powers do not allow rise in economic protections.

“The UAE will always champion an open, global trading system. Everyone will end up worse if we close the international markets.”

He said it is also important to work hard to avoid power vacuums, which he said are “magnets” for extremists.

“The greatest victims of these vacuum is normal people,” he said.

The biog

Nickname: Mama Nadia to children, staff and parents

Education: Bachelors degree in English Literature with Social work from UAE University

As a child: Kept sweets on the window sill for workers, set aside money to pay for education of needy families

Holidays: Spends most of her days off at Senses often with her family who describe the centre as part of their life too

The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

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Our legal consultant

Name: Dr Hassan Mohsen Elhais

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

Three ways to boost your credit score

Marwan Lutfi says the core fundamentals that drive better payment behaviour and can improve your credit score are:

1. Make sure you make your payments on time;

2. Limit the number of products you borrow on: the more loans and credit cards you have, the more it will affect your credit score;

3. Don't max out all your debts: how much you maximise those credit facilities will have an impact. If you have five credit cards and utilise 90 per cent of that credit, it will negatively affect your score.

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How to play the stock market recovery in 2021?

If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.

Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.

Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.

Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).

Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal. 

Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.

By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.

As demand for energy fell, the oil and gas industry had a tough year, too.

Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.

He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.” 

This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”

Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.

The candidates

Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

West Asia Premiership

Dubai Hurricanes 58-10 Dubai Knights Eagles

Dubai Tigers 5-39 Bahrain

Jebel Ali Dragons 16-56 Abu Dhabi Harlequins

Sustainable Development Goals

1. End poverty in all its forms everywhere

2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture

3. Ensure healthy lives and promote well-being for all at all ages

4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all

5. Achieve gender equality and empower all women and girls

6. Ensure availability and sustainable management of water and sanitation for all

7. Ensure access to affordable, reliable, sustainable and modern energy for all

8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation

10. Reduce inequality  within and among countries

11. Make cities and human settlements inclusive, safe, resilient and sustainable

12. Ensure sustainable consumption and production patterns

13. Take urgent action to combat climate change and its effects

14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development

15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss

16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

17. Strengthen the means of implementation and revitalise the global partnership for sustainable development

Royal wedding inspired menu

Ginger, citrus and orange blossom iced tea

Avocado ranch dip with crudites

Cucumber, smoked salmon and cream cheese mini club sandwiches

Elderflower and lemon syllabub meringue

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
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UAE currency: the story behind the money in your pockets

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Nick Coleman
Jonathan Cape

MATCH INFO

Syria v Australia
2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium, Malayisa
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD

* Second leg in Australia on October 10

Match info

Manchester United 4
(Pogba 5', 33', Rashford 45', Lukaku 72')

Bournemouth 1
(Ake 45 2')

Red card: Eric Bailly (Manchester United)

Conflict, drought, famine

Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.

Band Aid

Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.

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Abu Dhabi card

5pm: Handicap (TB) Dh100,000 2,400m

5.30pm: Wathba Stallions Cup Handicap (PA) Dh 70,000 2,200m

6pm: Abu Dhabi Fillies Classic Prestige (PA) Dh110,000 1,400m

6.30pm: Abu Dhabi Colts Classic Prestige (PA) Dh110,000 1,400m

7pm: Handicap (PA) Dh85,000 1,600m

7.30pm: Maiden (PA) Dh80,000 1,600m

The National selections:

5pm: Valcartier

5.30pm: AF Taraha

6pm: Dhafra

6.30pm: Maqam

7pm: AF Mekhbat

7.30pm: Ezz Al Rawasi  

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

Updated: November 15, 2022, 4:07 AM`