Trinidad and Tobago’s ambassador Dennis Francis was elected on Thursday as the next president of the UN General Assembly.
The 193-member world body is a key venue for all countries to tackle urgent issues including growing global poverty, inequality and climate change, and has been at the forefront of the UN's condemnation of Russia’s invasion of Ukraine.
The longest-serving ambassador of the Caribbean nation, Mr Francis will take over the presidency at the start of the 78th session of the assembly in September and will preside over the annual gathering of world leaders later that month.
He was elected by acclamation with a bang of the gavel and loud applause.
Mr Francis will succeed Csaba Korosi of Hungary, a diplomat for nearly 40 years who was highly praised by UN Secretary General Antonio Guterres, who said: “I will miss his advice and guidance.”
The General Assembly, which is the UN’s most representative body, has taken the spotlight in reacting to the war in Ukraine because of Russia’s veto power in the Security Council.
It has adopted six resolutions, which have included demands for Russia to withdraw all its forces from Ukraine and condemnations of its “attempted illegal annexation” of four Ukrainian regions.
Unlike Security Council resolutions, General Assembly resolutions are not legally binding, but they are important as a reflection of world opinion.
When asked how the war would factor into the coming session, Mr Francis said: “I believe that the will exists, and the capacity exists, to think and act globally beyond the limits of the war, and that will be something that I’ll be seeking to encourage in various ways so that we can make common cause in finding consensus, or, if not consensus, at least compromise.”
A career diplomat for nearly 40 years, Mr Francis came out of retirement to become Trinidad and Tobago’s UN ambassador in September 2021.
He previously represented the nation at UN agencies in Geneva, Vienna and Paris and held top posts in the foreign ministry. He also served as high commissioner to Jamaica and was accredited to the Dominican Republic, Haiti and Cuba.
Mr Francis has chosen “Peace, Prosperity, Progress and Sustainability” as his theme, saying they constitute “the four supreme objectives before the international community” at this critical time.
His predecessor Mr Korosi’s theme for the current assembly session has been “Solutions through Solidarity, Sustainability and Science”.
After his election, Mr Francis told the assembly that “education is the great liberator, lifting people up the social ladder and strengthening society in the process”.
A key focus, he said, when world leaders meet in September will be to re-energise action to deliver on UN goals for 2030, which are seriously lagging.
These include ending extreme poverty, ensuring quality secondary education for all children, achieving gender equality, reducing inequality and taking urgent action to combat climate change.
Mr Guterres said Mr Francis would take on the presidency “at a deeply challenging moment for the human family”, pointing to “conflicts and climate chaos, escalating poverty, hunger and inequality, mistrust and division.
The Secretary General added that the 2030 goals were “in danger” and “slipping out of reach”.
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
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What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
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UAE currency: the story behind the money in your pockets
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.
Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
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Mohammed bin Zayed Majlis
The Birkin bag is made by Hermès.
It is named after actress and singer Jane Birkin
Noone from Hermès will go on record to say how much a new Birkin costs, how long one would have to wait to get one, and how many bags are actually made each year.
Tips to keep your car cool
- Place a sun reflector in your windshield when not driving
- Park in shaded or covered areas
- Add tint to windows
- Wrap your car to change the exterior colour
- Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
- Avoid leather interiors as these absorb more heat
The specs
Engine: 5.0-litre V8
Power: 480hp at 7,250rpm
Torque: 566Nm at 4,600rpm
Transmission: 10-speed auto
Fuel consumption: L/100km
Price: Dh306,495
On sale: now
