Sheikh Abdullah bin Zayed, the Foreign Minister, yesterday greets Edgar Meyer, the president of Austria's federal council. They discussed issues of parliamentary, economic and investment cooperation. Wam
Sheikh Abdullah bin Zayed, the Foreign Minister, yesterday greets Edgar Meyer, the president of Austria's federal council. They discussed issues of parliamentary, economic and investment cooperation. Show more

UAE urges Austria to change stance on euro visa-free travel



ABU DHABI // The Foreign Minister, Sheikh Abdullah bin Zayed, has urged Austria to withdraw its opposition to visa-free access for UAE citizens to European Schengen countries.
"The most important aspect of mutual friendship is enhancing the ease of movement between our two countries," Sheikh Abdullah said on a visit to Vienna, where he raised the issue with the Austrian foreign minister Dr Michael Spindelegger.
"Too often, Emirati citizens are stopped at European borders and turned away because of unclear, complex, and restrictive visa regulations. Austrian citizens, along with most Europeans, are granted free 30-day visas upon arrival in the UAE.
"The UAE is asking that its citizens be granted similar access to the countries of the Schengen area, in recognition of the excellent relations between the UAE and Europe, and of the significant economic contribution of Emirati activities on the continent."
Austria was one of four European countries opposed to a visa waiver for Emiratis proposed last year, along with Germany, Belgium and the Netherlands. Since then, Germany and the Netherlands have reversed their stance.
When all 27 member states agree, the European Commission will present the proposal to the European Council.
"The European Union is expected to make an important decision on the expansion of the list of countries that are granted visa-free access to the Schengen area. Given the clear mutual benefits of this move, the UAE is counting on the support of its friends, including Austria, to become part of this list," Sheikh Abdullah said.
He said the UAE was proud to call itself a friend of Austria and a friend of Europe, and was happy to continue to contribute to this friendship and to continue investing and spending in Europe.
"In return, the UAE expects to be treated as a friend, including upon arrival at Europe's borders," he said.
Sheikh Abdullah also discussed ways to expand economic relations between the two countries, and regional and global issues relating to the security of the Middle East and Europe.
"In the past, we have successfully cooperated in the Balkans to ensure stability between countries and work towards peace and security for the affected populations," he said.
"We both share deep concerns about the current situation in Syria, where the civil war is now in its third year and levels of suffering remain shocking."
He said both Austria and the UAE supported concerted international efforts to prevent Iran from acquiring nuclear weapons.
Sheikh Abdullah also discussed issues of parliamentary, economic and investment cooperation with the president of Austria's federal council, the upper house of parliament, Edgar Meyer.
He emphasised the importance of exchanging parliamentary visits aimed at promoting cooperation, exchanging expertise in education and health care, and building bridges between the two peoples.
During the visit the new UAE Embassy in Vienna was inaugurated. The five-storey building that houses the Embassy, the Consulate and the offices of the UAE Permanent Mission to the International Atomic Energy Agency was built at a cost of Dh33.25 million.
Sheikh Abdullah urged the staff of the Embassy to provide all possible assistance and services to Emiratis, including facilities for business people and hospital patients, and to promote the UAE's image.
"The new offices provide ample space for UAE diplomatic representation in Vienna, including the Permanent Mission to the IAEA and the Embassy," said Hamad Al Kaabi, the UAE's permanent representative to the IAEA.
Sheikh Abdullah said business was an important driver of the close relationship between the UAE and Austria.
"Thirty six Austrian companies operate directly in the UAE and 336 Austrian companies are represented there by an agent. Moreover, the UAE is home to close to 1,800 Austrians who live and work there," he said.
Last year, more 10,000 UAE nationals visited Austria for tourism, business and health care, he said, and the UAE and Austria exchanged about 460 million euros in trade.
Sheikh Abdullah left Vienna to fly to Greece, where he met the Greek president Karolos Papoulias.
 
amustafa@thenational.ae
* Additional reporting by Wam
- This article has been updated to reflect a correction. The UAE embassy in Vienna was built at a cost of Dh33.25 million, not Dh418 million.

 

 

SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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NO OTHER LAND

Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal

Stars: Basel Adra, Yuval Abraham

Rating: 3.5/5

While you're here
In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

List of alleged parties

 

May 12, 2020: PM and his wife Carrie attend 'work meeting' with at least 17 staff 

May 20, 2020: They attend 'bring your own booze party'

Nov 27, 2020: PM gives speech at leaving party for his staff 

Dec 10, 2020: Staff party held by then-education secretary Gavin Williamson 

Dec 13, 2020: PM and his wife throw a party

Dec 14, 2020: London mayoral candidate Shaun Bailey holds staff event at Conservative Party headquarters 

Dec 15, 2020: PM takes part in a staff quiz 

Dec 18, 2020: Downing Street Christmas party 

THE BIO

Favourite holiday destination: Whenever I have any free time I always go back to see my family in Caltra, Galway, it’s the only place I can properly relax.

Favourite film: The Way, starring Martin Sheen. It’s about the Camino de Santiago walk from France to Spain.

Personal motto: If something’s meant for you it won’t pass you by.

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia

Fatherland

Kele Okereke

(BMG)

The rules on fostering in the UAE

A foster couple or family must:

  • be Muslim, Emirati and be residing in the UAE
  • not be younger than 25 years old
  • not have been convicted of offences or crimes involving moral turpitude
  • be free of infectious diseases or psychological and mental disorders
  • have the ability to support its members and the foster child financially
  • undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
  • A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
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.”

PAKISTAN v SRI LANKA

Twenty20 International series
Thu Oct 26, 1st T20I, Abu Dhabi
Fri Oct 27, 2nd T20I, Abu Dhabi
Sun Oct 29, 3rd T20I, Lahore

Tickets are available at www.q-tickets.com

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Griselda
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%C2%A0Andr%C3%A9s%20Baiz%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%C2%A0%3C%2Fstrong%3ESof%C3%ADa%20Vergara%2C%20Alberto%20Guerra%2C%20Juliana%20Aiden%20Martinez%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Election pledges on migration

CDU: "Now is the time to control the German borders and enforce strict border rejections" 

SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom" 

Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.0%20twin-turbo%20inline%20six-cylinder%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3Eeight-speed%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E503hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E600Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3Efrom%20Dh400%2C000%20(estimate)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3Enow%3C%2Fp%3E%0A

Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics

 

SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2a)
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A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

The%20specs%3A%20Panamera%20Turbo%20E-Hybrid
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The%20specs%3A%202024%20Panamera
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ICC Intercontinental Cup

UAE squad Rohan Mustafa (captain), Chirag Suri, Shaiman Anwar, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Saqlain Haider, Ahmed Raza, Mohammed Naveed, Imran Haider, Qadeer Ahmed, Mohammed Boota, Amir Hayat, Ashfaq Ahmed

Fixtures Nov 29-Dec 2

UAE v Afghanistan, Zayed Cricket Stadium, Abu Dhabi

Hong Kong v Papua New Guinea, Sharjah Cricket Stadium

Ireland v Scotland, Dubai International Stadium

Namibia v Netherlands, ICC Academy, Dubai

COMPANY%20PROFILE
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