Pratibha Patil, India's president, will visit the UAE next week. It will be her first trip to the Gulf region.
Pratibha Patil, India's president, will visit the UAE next week. It will be her first trip to the Gulf region.

Indians in the UAE ready to welcome their president



ABU DHABI // The Indian president's official visit to the UAE next week, her first to the Gulf, will highlight business, political and community-related issues, according to the Indian ambassador.
Pratibha Patil will arrive with a delegation of entrepreneurs and Indian politicians, said the ambassador MK Lokesh.
"It is a very elaborate visit, where she will be attending a lot of Indian functions," he said. "This is the first visit by the president to the Gulf and the UAE will be the first country she visits."
During Mrs Patil's visit, from Sunday until November 25, she will spend two days in Abu Dhabi before going on to Dubai and Sharjah.
She will meet Sheikh Khalifa bin Zayed, President of the UAE and Ruler of Abu Dhabi, on November 22.
"Due to security considerations we are unable to reveal all the venues," Mr Lokesh said. "Her programme during the visit is also evolving. During her meeting with the President of the UAE, official discussions will take place. The official agenda is still being arranged."
She will also meet the Abu Dhabi and Dubai Chambers of Commerce. The UAE is India's largest trading partner, with imports and exports worth $44.5 billion in 2009, according to the Indian government.
The business delegation will include members of the Federation of Indian Chambers of Commerce and Industry, the Confederation of Indian Industry and the Associated Chambers of Commerce and Industry of India.
On the evening of November 22 she will visit the India Social and Cultural Centre in Abu Dhabi, where she will address the expatriate club members.
"The India Social Centre is a proud monument for all the Indians living here," said Sudhir Shetty, former president of the centre. "Her visit will further enhance the projects we are putting up, and the facilities we are able to provide.
"These moments are very rare. A person no less than the president of India is visiting the centre. This is a great honour."
On November 23, she will inaugurate the Indian Islamic Centre on Al Falah Street. The foundation stone of the building was laid by the Indian prime minister Indira Gandhi in 1981.
She will also meet and address a group of Indian pupils from various schools at the Abu Dhabi Indian School.
"Given the size of the Indian community here, it is natural that she will want to interact with them," Mr Lokesh said.
The ambassador will hold a reception and dinner for the president in Dubai on November 24. She will also meet Sheikh Mohammed bin Rashid, the Prime Minister of the UAE and Ruler of Dubai.
She will inaugurate the Indian trade and exhibition centre in Sharjah on November 25, a building set up by Sharjah Chamber of Commerce that will house a permanent exhibition of India.
In Dubai, the president will inaugurate the Indian Workers Resource Centre, set up to provide a wide range of services for Indian workers, mostly labourers.
It will have a 24-hour helpline to answer queries about life in the UAE. Classes will also be conducted regularly to counsel workers about legal, medical and financial issues. The centre can process attestation of employment documents for workers as well.
K Kumar, who heads a welfare centre, part of the Indian consulate in Dubai, said he was looking forward to meeting the president again. He first met her in 2008 when he received the Pravasi Bharatiya Award for his role in the centre.
But Mr Kumar said the president's focus would be on meeting the UAE's leaders. "That is more important for her," he said. "It is important to further build on the relationship between the two countries."
 
sbhattacharya@thenational.ae

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

Bert van Marwijk factfile

Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder

Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia

Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands

The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

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The%20stats%20and%20facts
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The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

SPECS
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MATCH INFO

Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid

When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid

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.”

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

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Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
  • Drones
  • Animals
  • Fireworks/ flares
  • Radios or power banks
  • Laser pointers
  • Glass
  • Selfie sticks/ umbrellas
  • Sharp objects
  • Political flags or banners
  • Bikes, skateboards or scooters
Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5