Tag Archives: UAE

Sport Today

Ronaldo Clear For Saudi Debut On January 22 – Source.

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Portuguese star Cristiano Ronaldo could make his Saudi Arabian debut on January 22 after he was successfully registered by new team Al Nassr, a club source told AFP on Saturday.

Ronaldo, who was unveiled to fans this week, joined the squad list after Al Nassr terminated Manchester United-linked striker Vincent Aboubakar to stay within the maximum eight foreign nationals stipulated by the Saudi league.

He will now be available for the January 22 home game against Ettifaq after completing a two-match ban issued in November for smashing a fan’s mobile phone while playing for Manchester United.

“Al Nassr terminated Vincent Aboubakar’s contract by mutual consent and he received all his financial rights,” the club source said, adding that Ronaldo was registered before Al Nassr’s game against Al Ta’ee on Friday.

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“So now he served one game from the ban and will serve the other one against Al Shabab” on January 14, the source said.

The official did not address reports that Aboubakar, 30, could be on his way to Manchester United, saying he was now a free agent and could negotiate with any team.

Ronaldo, 37, joined Al Nassr in a deal believed to be worth around 200 million euros that has shone an unprecedented light on the Saudi Pro League.

It comes as Saudi Arabia, which watched as neighbour Qatar hosted the World Cup in November and December, considers a joint bid for the 2030 tournament with Greece and Egypt.

The deeply conservative kingdom is snapping up sports assets as part of a drive to soften its harsh image, attract foreign interest and diversify its oil-reliant economy.

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Critics have accused the Saudis of “sportswashing” — using sport to deflect attention from human rights controversies.

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Business Today

‘Financial sector offers potential in Türkiye-Saudi business ties’

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One of the most important development areas of bilateral relations between Türkiye and Saudi Arabia is the financial sector, Treasury and Finance Minister Nureddin Nebati said Thursday, inviting Saudi investors from all over the world, as well as international investors investing in Turkish financial markets, to take advantage of the opportunities in the markets.

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Nebati was speaking at the Türkiye-Saudi Arabia Business and Investment Forum, hosted by the Ministry of Treasury and Finance and organized by the Foreign Economic Relations Board (DEIK).

He pointed out that Türkiye’s finance and banking sector is highly integrated with global financial markets, has a strong regulatory and supervisory infrastructure, strong human capital, serves as a pioneer in innovative applications and has carried the economy much further. Nebati added that the sector, which has successfully passed important stress tests such as the global financial crisis and pandemic, was appreciated by foreign financial circles and attracted increasing interest from foreign investors.

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Stating that this integration with the global financial markets is actually one of the most important pillars in boosting the economy much further, Nebati said: “Our stock market, which has an important place among the emerging markets, continues to offer attractive return opportunities to domestic and foreign investors with its market depth and high liquidity. The strong investor interest in Borsa Istanbul, whose indices have reached historically high levels recently, brings with it daily trading volume records.”

Pointing out that Borsa Istanbul has ranked high worldwide in risk-adjusted returns over the past year, Nebati said: “In addition to its deep-rooted bond tradition, our ministry has been issuing lease certificates, namely ‘sukuks,’ in both domestic and foreign markets since 2012.”

The “sukuk” in particular is an Islamic financial certificate, similar to a bond in Western finance.

Nebati, further commenting on Türkiye-Saudi Arabia business relations, said, the bilateral trade volume, which was $3.7 billion in 2021, increased to $4.3 billion in the January-October period of 2022.

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“This is pleasing, but we need to act faster to reach our goals,” he said, noting that the trade volume is expected to reach $10 billion in a very short time and they aim to increase this figure to $30 billion quickly.

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United Arab Emirates

Erdoğan meets key Arab leaders before World Cup opening.

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Türkiye President Recep Tayyip Erdoğan met several key Arab leaders at a reception held before the World Cup opening ceremony in the Qatari capital Doha on Sunday.

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President Erdoğan was accompanied by the host and Qatari Emir Sheikh Tamim bin Hamad Al Thani as they met other visiting heads of states, including Saudi Arabia’s Crown Prince Mohammed bin Salman, Egyptian President Abdel Fattah el-Sissi, Jordan’s King Abdullah II and Palestinian President Mahmoud Abbas, among others.

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Speaking at the opening ceremony Qatari Emir Al Thani said the event gathered people of all nationalities and beliefs.

“From Qatar, from the Arab world, I welcome everyone to the World Cup 2022,” he said in a speech in a tent-shaped stadium.

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“How lovely it is that people can put aside what divides them to celebrate their diversity and what brings them together all at once.”

Photo: Türkiye President, Recep Tayyip Erdoğan meets key UAE leaders ahead 2022 World Cup opening sponsored by Qatar // Noble Reporters Media
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Diplomacy

President Erdoğan to visit Indonesia, Uzbekistan, Bahrain, Qatar.

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President Recep Tayyip Erdoğan announced that he will be traveling to Uzbekistan, Indonesia, Bahrain, and Qatar this month.

Speaking at a news conference following a cabinet meeting in the capital Ankara, Erdoğan said that he will visit Samarkand, Uzbekistan for a summit of the Organization of Turkic States (OTS) on Thursday and Friday.

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The OTS, formerly called the Turkic Council or the Cooperation Council of Turkic Speaking States, is an international organization comprising prominent independent Turkic countries that work together to elevate relations and the union among themselves.

Türkiye has prioritized the sovereignty, stability and welfare of Turkic states in Central Asia since the 1990s, Ambassador Mercan said while addressing the event.

The OTS originally emerged as a summit between the heads of Turkic states in 1991 and eventually became an international council in 2009, holding over 10 summits so far.

Erdoğan will then head to Bali, Indonesia the following Tuesday and Wednesday, Nov. 15-16, for a G20 Leaders’ Summit.

Chinese and U.S. presidents, Xi Jinping and Joe Biden, respectively, are also expected to attend a G20 summit in Bali.

After the summit, he will visit the Gulf nation of Bahrain, and on Nov. 20, he will head to its neighbor Qatar, he added.

Last month, Türkiye and Qatar inked 11 new cooperation deals in the eighth meeting of the Supreme Strategic Committee in Istanbul.

Türkiye and Qatar established the Supreme Strategic Committee in 2014 as a mechanism for high-level dialogue and bilateral cooperation.

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Ankara and Doha enjoy strong relations, particularly since the 2017 blockade of the Gulf country by Saudi Arabia and others. The two countries have strengthened military and economic ties in recent years. The sixth meeting of the Türkiye-Qatar Supreme Strategic Committee was held in 2020 in the Turkish capital Ankara. Ten agreements were signed between the two countries in the presence of the two leaders. Within the framework of the Supreme Strategic Committee meetings, a total of 68 agreements and protocols were signed between the two countries previously.

Turkish-Qatari relations are also witnessing growing and continuous cooperation at various levels, with high coordination on many regional and international issues, including the Libyan crisis and Afghanistan. In addition to bilateral trade and diplomatic relations, the two countries played a pivotal role in supporting the legitimate Libyan government and defending Tripoli against putschist Gen. Khalifa Haftar’s forces in a 14-month offensive. They also cooperated to reopen Kabul Hamid Karzai International Airport after the Taliban took over following the government’s fall and the withdrawal of U.S. forces.

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Gossipals

Hushpuppi to know his fate tomorrow.

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Convicted internet fraudster, Ramon Abbas, popularly known as Hushpuppi, is about to be sentenced to jail.

It has been revealed that the Nigerian Instagram celebrity, Hushpuppi, would know his fate over fraud charges on Monday in the United States.

Earlier on Friday, reports flooded the media space that Hushpuppi has been sentenced to 11 years in prison in the US, but according to BBC News, the information is fake.

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Hushpuppi is a suspected Nigerian internet fraudster arrested in Dubai, United Arab Emirates, in June 2020 and was extradited to the United States on July 3.

Noble Reporters Media learnt that Hushpuppi defrauded over 1.9 million people, and many of his victims are Americans.

The 37-year-old had pleaded guilty to the charges filed against him.

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In October 2022, the trial judge, Otis Wright, of the US Central District Court in California, postponed the sentencing to Monday, November 7, 2022.

“Counsels are notified, the sentencing is continued to November 7, 2022, at 11.30 am as to Defendant Ramon Olorunwa Abbas,” the court announcement shifting the sentencing disclosed.

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Gossipals

Hushpuppi removed from Instagram ahead of sentencing.

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Nigeria’s internet influencer and notorious international fraudster, Hushpuppi has been removed from the photo and video-sharing platform, Instagram.

Hushpuppi was arrested in Dubai, the United Arab Emirates (UAE) in June 2020 with 12 accomplices over allegations bordering on hacking, impersonation, scamming, banking fraud, and identity theft, and thereafter extradited to the US for prosecution.

His Instagram account — which he used as a platform to display his lavish lifestyle to his 2.8 million followers — had remained active until recently when it was noticed to have disappeared.

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When searching for the account, one is directed to an Instagram document saying the page was not available and that it “may have been removed”.

The account featured images of Abbas’s ostentatious lifestyle, including stepping out of a helicopter at Dubai’s Atlantis The Palm resort and collecting a new Rolls-Royce Cullinan.

Abbas is described as one of the “most high-profile money launderers in the world”, who acted in the open rather than the shadows.

His extradition to the US was hinged after the UAE police detailed his arrest where he was accused of defrauding 1.9 million victims to the tune of N168billion.

Almost $41m in cash and 13 cars valued at about $6.8m were seized, as were phone and computer evidence containing more than 100,000 fraudulent files.

In addition, the email addresses of nearly two million possible victims were found, Dubai Police said at the time

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Gossipals

18+ Video: Lady spotted screaming under bulldog in Dubai amid intensive sex.

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A video recently surfaced online showing the moment a Nigerian lady having sex with a dog. Watch Lady Here

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Gossipals

18+ Video: Nigerian Lady spotted in Dubai having s!x with dog.

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A video recently surfaced online showing the moment a Nigerian lady having sex with a dog. Watch Lady Here

There have been speculations of girls sleeping with dogs for money when Watch Lady Herethey travel to Dubai or Italy, but the video seems to confirm that the rumors are true.Watch Lady Here

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Economy Today

Sirika: Visa ban, best for our economy.

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President Muhammadu Buhari’s regime does not care about the mistreatment Nigerians suffer in the hands of foreign countries like the UAE that arbitrarily revoke their visas and cancel visa applications without refund, says aviation minister Hadi Sirika.

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On Monday, Mr Sirika said there were no grounds for the UAE to threaten Nigeria with the visa ban despite Nigeria failing to repatriate $700 million trapped funds of foreign airlines.

“If you disagree, you are supposed to come to us, and we sit down, and we negotiate and give you what we have in the hope that we finish paying. What I have a problem with are the threats,” said Mr Sirika said on Monday. “Every country would threaten Nigeria that they would not fly to Nigeria again, that would not give Nigeria visa. They would not do operations; they would shut Lagos and Abuja. Please, countries have been shut completely, and they did well.”

The Nigerian aviation minister stressed that “there are examples” in Asia, the Middle East and Europe.

“We are not afraid to be shut. It would make us do much better. It would make our schools and hospitals do better because necessity is the mother of invention,” Mr Sirika added.

He stated this during a meeting of the House of Representatives discussing the $700 million trapped funds of foreign airlines operating in the country.

“We would begin to go to our own hospitals and our schools. When you stop coming to Nigeria, it does not make any sense. We are not threatened,” he insisted. “When you begin Nigeria, a 200 million market which you need, you do not have a case. And I have a problem with that. I have been doing everything to ensure this is paid. But you can only give what you have.”

Recently, the UAE slammed a visa ban on Nigeria and 19 other African countries.

“This is to inform you that we will not be posting 30 days visa applications for these nationalities effective today, October 18, 2022,” the notice said.

Countries affected by the visa ban include Ghana, Sierra Leone, Sudan, Cameroon, Nigeria, Liberia, Burundi, Republic of Guinea, Gambia, Togo, Democratic Republic of Congo, Senegal, Benin, Ivory Coast, Congo, Rwanda, Burkina Faso, Guinea Bissau, Comoros and the Dominican Republic.

Peoples Gazette had reported earlier that the UAE had begun rejecting valid visa holders and barring others from entering.

Two travel agencies confirmed to Noble Reporters’ known Media that their clients with visas were banned, and new applications were denied without refund. Six travellers told The Gazette that issued permits were immediately rejected.

In June, a top official at the International Air Transport Association revealed that Nigeria had been withholding $450 million revenue of international carriers operating in the country.

According to the IATA, $1 billion in income belonging to foreign airlines is being withheld across Africa, with Nigeria accounting for the highest amount of airline funds on the continent.

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Economy Today

UAE visa ban on Nigerians: “We are not bothered” – Hadi Sirika.

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President Muhammadu Buhari’s regime does not care about the mistreatment Nigerians suffer in the hands of foreign countries like the UAE that arbitrarily revoke their visas and cancel visa applications without refund, says aviation minister Hadi Sirika.

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On Monday, Mr Sirika said there were no grounds for the UAE to threaten Nigeria with the visa ban despite Nigeria failing to repatriate $700 million trapped funds of foreign airlines.

“If you disagree, you are supposed to come to us, and we sit down, and we negotiate and give you what we have in the hope that we finish paying. What I have a problem with are the threats,” said Mr Sirika said on Monday. “Every country would threaten Nigeria that they would not fly to Nigeria again, that would not give Nigeria visa. They would not do operations; they would shut Lagos and Abuja. Please, countries have been shut completely, and they did well.”

The Nigerian aviation minister stressed that “there are examples” in Asia, the Middle East and Europe.

“We are not afraid to be shut. It would make us do much better. It would make our schools and hospitals do better because necessity is the mother of invention,” Mr Sirika added.

He stated this during a meeting of the House of Representatives discussing the $700 million trapped funds of foreign airlines operating in the country.

“We would begin to go to our own hospitals and our schools. When you stop coming to Nigeria, it does not make any sense. We are not threatened,” he insisted. “When you begin Nigeria, a 200 million market which you need, you do not have a case. And I have a problem with that. I have been doing everything to ensure this is paid. But you can only give what you have.”

Recently, the UAE slammed a visa ban on Nigeria and 19 other African countries.

“This is to inform you that we will not be posting 30 days visa applications for these nationalities effective today, October 18, 2022,” the notice said.

Countries affected by the visa ban include Ghana, Sierra Leone, Sudan, Cameroon, Nigeria, Liberia, Burundi, Republic of Guinea, Gambia, Togo, Democratic Republic of Congo, Senegal, Benin, Ivory Coast, Congo, Rwanda, Burkina Faso, Guinea Bissau, Comoros and the Dominican Republic.

Peoples Gazette had reported earlier that the UAE had begun rejecting valid visa holders and barring others from entering.

Two travel agencies confirmed to The Gazette that their clients with visas were banned, and new applications were denied without refund. Six travellers told The Gazette that issued permits were immediately rejected.

In June, a top official at the International Air Transport Association revealed that Nigeria had been withholding $450 million revenue of international carriers operating in the country.

According to the IATA, $1 billion in income belonging to foreign airlines is being withheld across Africa, with Nigeria accounting for the highest amount of airline funds on the continent.

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In the news

UAE jailed Nigerian woman because her viral video violated cybercrime law: Abike Dabiri.

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Nigerian citizen, Dinchi Lar, was imprisoned in Dubai for breaking the country’s cybercrime law, says Abike Dabiri, chairman of the Nigerians in Diaspora Commission (NIDCOM).

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Ms Lar was “convicted under United Arab Emirates laws for recording and circulating “offensive” video on social media,” partly reads the statement signed by Ms Dabiri’s aide, Abdur-Rahman Balogun, on October 23.

“Under the UAE cybercrime law, taking a video or photograph of someone without his/her consent and posting such on social media is an offence punishable with a one-year jail term or a fine of between approximately $69,000 and $137,000 or both jail term and fine,” the statement added.

The Nigerian lady who travelled to Dubai on August 31 had tweeted a video that showed the horrendous treatment Nigerians and other African nationals were forced to endure at the Dubai international airport.

The statement explained Ms Lar was sentenced to one year in prison for breaching Dubai’s cybercrime statute since she had captured a UAE official in the now-deleted video.

According to the commission, the Nigerian woman, convicted on October 12, has only “15 days to appeal her judgment.”

NIDCOM informed Ms Lar that she “can still appeal the ruling” and assured her that the Nigerian Mission in Dubai would provide “moral and consular support.”

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Africas

Egypt leaves Arab League meeting, opposes PM Dbeibah.

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Egypt withdrew from an Arab League meeting on Tuesday chaired by the foreign minister in the outgoing government of Libyan Prime Minister Abdul Dbeibah. The move was an apparent protest against her representing Libya at the pan-Arab summit. Egypt supports her administration’s rival.

The seats of the Egyptian delegation were seen empty as Najla Mangoush, the foreign minister of the Tripoli-based administration, was addressing a meeting for the Arab foreign ministers in Cairo.

Egyptian Foreign Minister Sameh Shukry left the meeting room in the Arab League headquarters when Mangoush took her seat to chair the meeting. Egypt sees the chaos in neighboring Libya as a threat to its stability, with militants using the Libyan desert as a safe haven from which to launch deadly attacks on Egyptian security forces and Christians.

Egypt’s government has argued the mandate of the Tripoli-based government of Prime Minister Dbeibah has ended after Libya’s east-based parliament appointed a rival premier earlier this year.

In a news conference following the meeting, Mangoush attempted to downplay Shukry’s withdrawal, saying that it was “not a crisis but a divergence of views” regarding the legitimacy of Dbeibah’s government.

Libya’s current political stalemate grew out of the failure to hold elections in December and Dbeibah’s refusal to step down. In response, the country’s east-based parliament appointed a rival prime minister, Fathi Bashagha, who has for months sought to install his government in Tripoli.

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The parliament canceled its session Monday in the eastern city of Benghazi after it said lawmakers were prevented from leaving the capital, Tripoli, which is controlled by Dbeibah-allied militias.

The divisions have contributed to fresh fighting in the war-torn country. Deadly clashes between militias backed by its two rival administrations killed 23 people last month in Libya’s capital, portending a return to violence amid a long political stalemate.

The escalation threatens to shatter the relative calm Libya has enjoyed for most of the past two years. The oil-rich nation plunged into chaos following a NATO-backed uprising that toppled and killed longtime autocrat Moammar Gadhafi in 2011.

Tens of thousands of Egyptians have sought work in neighboring Libya over the years, although the number has declined since the 2011 uprising.

Egypt, along with Russia, the United Arab Emirates and France, was a key backer of eastern aligned putschist Gen. Khalifa Haftar, who is now allied with Bashagha, while Türkiye and Qatar supported the U.N.-backed Government of National Accord (GNA).

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Diplomacy

Türkiye-Egypt rapprochement continues gradually.

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The normalization process between Türkiye and Egypt continues at a gradual pace. Discussions are being held at the intelligence level and extending the process over time does not mean that it is not progressing positively.

Türkiye carries out normalization processes without breaking its stance for peace and stability in its region and within the framework of international law. In normalization with Egypt, which is progressing more slowly than Israel, the United Arab Emirates (UAE) and Armenia, contacts were established at the level of the deputy foreign minister after the meetings between the intelligence services.

Finally, it was learned that negotiations on economic cooperation and trade were held at the general manager level. Discussions on foreign trade with Egypt, which is going through an economically troubled period, took place.

After an eight-year break, the Egyptian delegation came to Ankara four months after the two-day visit of the Turkish delegation led by Deputy Foreign Minister Sedat Önal to Cairo, the capital of Egypt, in May last year, and consultative meetings were held.

While concrete steps were taken in the normalization processes that started long after the contact with Egypt, it is stated that the spread of this process with Egypt does not mean that the process does not progress in a positive direction.

Ankara states that it has the will to accelerate the process and states that the reason for the slow progress of the process is that it focuses on Cairo’s domestic politics. Türkiye defends the view that positive relations between the two countries are important for the Eastern Mediterranean, the Palestinian issue, Africa and the Arab world.

On the other hand, contact was established with Egypt to bring the Palestinian brothers Rahaf and Muhammed Halil Salman, who were injured after an Israeli missile fired at the north of the Gaza Strip, on Aug. 6, to Türkiye and be treated by order of President Recep Tayyip Erdoğan.

Regarding the relations with Egypt, Erdoğan said last month that Türkiye continues its contacts with Cairo at the level of ministers.

“We hope that we can take this step at the highest level in the best way possible because the people of Egypt are our brothers. It is not possible for us to be offended with the Egyptian people,” he said.

Last year, Türkiye said it had resumed diplomatic contact with Egypt and wanted to improve cooperation after years of tensions that began with the disruption of relations in 2013.

In May 2021, a delegation of senior Turkish officials traveled to Egypt for an official visit – the first since 2013 – to discuss normalizing diplomatic relations amid efforts by the two countries to improve bilateral ties that deteriorated following the Arab Spring.

At the end of the visit, the two countries issued a joint statement describing the exploratory round of bilateral talks between them as “frank and in-depth.”

On May 7, 2021, Erdoğan announced the start of a new phase in relations with Egypt, stressing that the talks would continue, develop and expand.

The normalization of ties between Türkiye and Egypt is vital for the Eastern Mediterranean, Foreign Minister Mevlüt Çavuşoğlu said this year.

Egypt and Türkiye have not deployed ambassadors since 2013, when relations worsened following the ousting of Egyptian President Mohamed Morsi by military chief Abdel Fattah al-Sisi, now the country’s president.

Türkiye-Egypt ties have continued at the level of charge d’affairs since 2013. During this period, brief meetings were held between the foreign ministers of the two countries on various occasions.

Recently, however, signs of a possible reconciliation have come from both countries, particularly due to the changing dynamics in the Eastern Mediterranean and the Türkiye-Greece crisis over the region’s energy resources.

Meanwhile, the Turkish Embassy in Cairo and consulate in Alexandria, as well as the Egyptian Embassy in Ankara and consulate in Istanbul, have continued their usual activities.

Türkiye has engaged in an effort to mend its frayed ties with regional powers, including Egypt and Saudi Arabia. Erdoğan reiterated that Türkiye hopes to maximize its cooperation with Egypt and Gulf nations “on a win-win basis,” at a time when Ankara intensified diplomacy to mend its fraught ties with Cairo and some Gulf Arab nations after years of tensions.

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energy

Abu Dhabi’s IHC acquires $490M stake in Turkish Kalyon Energy.

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Abu Dhabi conglomerate International Holding Co (IHC) on Thursday announced it acquired a 50% stake in Turkish Kalyon Energy for 1.8 billion dirhams ($490 million) through one of its subsidiaries.

Kalyon Enerji is part of Turkish conglomerate Kalyon Holding, which is engaged in the construction, energy and aviation industries. IHC subsidiary International Energy Holding (IEH) will acquire the stake, the conglomerate said.

The transaction includes solar power projects in Türkiye’s Karapınar and Gaziantep regions and a wind power project in Ankara, IHC said in a statement to the Abu Dhabi stock market.

IHC is the most valuable company on the Abu Dhabi bourse with a market capitalization of around $167 billion.

Chief Executive Syed Basar Shueb said the deal was IHC’s second-biggest acquisition ever in the renewable energy sector.

Kalyon Holding, which has large solar and wind energy concessions in Türkiye, was in June reported having been in advanced talks with IHC to partner on strategic assets.

The transaction has great importance not only for Türkiye and the United Arab Emirates (UAE) but also on a regional scale, the chairman of Kalyon Holding, Cemal Kalyoncu, said in a statement.

“The steps we have taken in the energy sector and the investments we have made have attracted the attention of foreign investors,” Kalyoncu noted.

“As a result of our meeting and mutual evaluation with IEH, we agreed to transfer 50% of Kalyon Energy shares. This cooperation will be one of the most important milestones of Kalyon Holding on its way to becoming a global brand.”

“As climate change is the defining challenge of our time, we will continue to step up our efforts to transform the world into a sustainable green economy,” he added.

Türkiye obtains the vast majority of its energy from imports and in order to boost its renewable energy production, it began large-scale solar and wind power station tenders in 2017.

The Kalyon Karapınar Solar Power Plant, which is included in the deal, will be capable of meeting the annual electricity needs of 2 million people once it is completed in 2023, IHC said.

The 1,350-megawatt (MW) solar power plant is being built in the central province of Konya. It will be the biggest solar power plant in Europe built on a single site and one of the five biggest in the world. The total investment to be made in the massive project is estimated to be around $1 billion.

Kalyon also has a solar panel plant with a yearly 1,000 MW production capacity in Ankara. This capacity is now aimed to be lifted to 2,000 MW, Kalyoncu said.

The fresh capital will provide a noteworthy foreign currency inflow for Türkiye and will be used to add new solar and wind energy investments, he added.

The deal follows a visit last November by the United Arab Emirates’ now-president, Sheikh Mohammed bin Zayed Al Nahyan, to Türkiye where he met Turkish President Recep Tayyip Erdoğan.

During the visit, the first in years that came amid efforts by the two regional rivals to mend strained ties and ramp up economic cooperation, Emirati and Turkish officials signed billions of dollars in investment deals, including for energy.

IHC is chaired by Sheikh Tahnoun bin Zayed Al Nahyan, the UAE’s national security adviser and a brother of Sheikh Mohammed.

Takeovers in ‘buyers’ market’
Shueb on Wednesday said IHC expects to increase its takeover activity, including in India and Türkiye, as global market turbulence has created “a buyers’ market.”

IHC is aiming for publicly listed companies in growth markets, Shueb told Reuters, adding that it was also looking in South America and Indonesia.

“The public domain market has really corrected itself in some of the assets,” he said.

“But in the private domain, it is still difficult to negotiate with the owners because they all are still living in a year-old world where the valuations were extremely high. It’s not a sellers’ market, it’s a buyers’ market now.”

IHC, which straddles sectors from health care to real estate to IT and utilities, made 70 acquisitions at a total value of 10 billion dirhams ($2.72 billion) this year.

Its highest profile deals include a 7.3-billion-dirham investment in three of India’s Gautam Adani companies in May this year.

Rising interest rates and predictions of a global downturn have made IHC more selective as valuations in private markets do not reflect current market conditions, Shueb said.

He also said the company was seeking sizeable acquisitions, rather than smaller deals, to boost its bottom line, although he did not give an indication of how large.

The company on Monday reported a 137% year-over-year increase in net profit for the first half of the year to 10.35 billion dirhams. IHC’s stock has risen over 120% so far this year to trade at 348 dirhams a share.

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Diplomacy

Turkey to clear terrorists from Syria for peace, Erdoğan says.

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President Recep Tayyip Erdoğan highlighted Turkey’s determination to clear terrorist organizations, such as YPG/PKK from Syria, as terrorists pose greatest threat to peace in Syria and the region.

Speaking at a trilateral summit with his Iranian counterpart Ebrahim Raisi and Russian counterpart Vladimir Putin, Erdoğan said Ankara expects its Astana partners to sincerely support its efforts to establish peace, stability in northern Syria.

“If there is peace in Idlib now, it is thanks to the Astana process,” he said.

For his part, Raisi said Syria’s fate should be decided by its people, without foreign intervention.

“Tehran supports political solution to Syrian crisis,” he said

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America

US to remain active partner in Mideast – Biden says at Arab summit.

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The United States will remain an active partner in the Middle East, U.S. President Joe Biden told Arab leaders on Saturday, but he failed to secure commitments to a regional security axis that would include Israel or an immediate oil output rise.

“The United States is invested in building a positive future of the region, in partnership with all of you-and the U.S. is not going anywhere,” he said, according to a transcript of his speech.

Biden, who began his first trip to the Middle East as president with a visit to Israel, presented his vision and strategy for America’s engagement in the Middle East at an Arab summit in Jeddah.

The summit communique was vague, however, and Saudi Arabia, Washington’s most important Arab ally, poured cold water on U.S. hopes the summit could help lay the groundwork for a regional security alliance – including Israel – to combat Iranian threats.

During a meeting with Saudi Crown Prince Mohammed bin Salman (MBS), Biden raised the highly sensitive issue of human rights, drawing countercriticism from the crown prince.

“We believe there’s great value in including as many of the capabilities in this region as possible and certainly Israel has significant air and missile defence capabilities, as they need to. But we’re having these discussions bilaterally with these nations,” a senior administration official told reporters.

A plan to connect air defense systems could be a hard sell for Arab states that have no ties with Israel and balk at being part of an alliance seen as against Iran, which has a strong regional network of proxies including Iraq, Lebanon and Yemen.

Saudi Arabia’s Foreign Minister, Prince Faisal bin Farhan Al Saud, said he was not aware of any discussions on a Gulf-Israeli defense alliance and that the kingdom was not involved in such talks.

He told reporters after the U.S.-Arab summit that Riyadh’s decision to open its airspace to all air carriers had nothing to do with establishing diplomatic ties with Israel and was not a precursor to further steps.

Biden has focused on the summit with six Gulf states and Egypt, Jordan and Iraq, while downplaying the meeting with MBS which drew criticism in the United States over human rights concerns.

Biden had said he would make regional power Saudi Arabia a “pariah” on the global stage over the 2018 murder of journalist Jamal Khashoggi by Saudi agents, but ultimately decided U.S. interests dictated a recalibration, not a rupture, in relations with the world’s top oil exporter.

The crown prince told Biden that Saudi Arabia had acted to prevent a repeat of mistakes like the killing of Khashoggi and that the United States had also made mistakes, including in Iraq, a Saudi minister said.

Fist bump
Biden exchanged a fist bump with MBS on Friday but said he told him he held him responsible for Khashoggi’s murder at the Saudi Consulate in Turkey’s Istanbul.

“The President raised the issue … And the crown prince responded that this was a painful episode for Saudi Arabia and that it was a terrible mistake,” said Saudi Minister of State for Foreign Affairs Adel al-Jubeir.

The accused were brought to trial were and being punished with prison terms, he said.

U.S. intelligence agencies believe the crown prince ordered Khashoggi’s killing, which he denies.

Jubeir, talking to Reuters about Friday’s conversation, said MBS had made the case that trying to impose values on other countries by force could backfire.

“It has not worked when the U.S. tried to impose values on Afghanistan and Iraq. In fact, it backfired,” Jubeir quoted the crown prince as telling Biden. “Countries have different values and those values should be respected!”

The exchange highlighted tensions that have weighed on relations between Washington and Riyadh, its closest Arab ally, over issues including Khashoggi, oil prices and the Yemen war.

Biden needs the help of the Organization of the Petroleum Exporting Countries (OPEC) giant Saudi Arabia at a time of high crude prices and other problems related to the Russia-Ukraine conflict. Washington also wants to curb Iran’s sway in the region and China’s global influence.

Biden came to Saudi Arabia hoping to reach a deal on oil production to help drive down gasoline prices that are driving inflation above 40-year highs and threatening his approval ratings.

He leaves the region empty-handed but hoping the OPEC+ group, comprising Saudi Arabia, Russia and other producers, will boost production at a meeting on Aug. 3.

“I look forward to seeing what’s coming in the coming months,” Biden said.

Food security
A second senior administration official said Biden would announce that Washington has committed $1 billion in new near- and long-term food security assistance for the Middle East and North Africa, and that Gulf states would commit $3 billion over the next two years in projects that align with U.S. partnerships in global infrastructure and investment.

Gulf states, which have refused to side with the West against Russia over Ukraine, are seeking a concrete commitment from the United States to strategic ties that have been strained over perceived U.S. disengagement from the region.

Riyadh and Abu Dhabi have been frustrated by U.S. conditions on arms sales and at their exclusion from indirect U.S.-Iran talks on reviving a 2015 nuclear pact they see as flawed for not tackling concerns about Iran’s missile programme and behaviour.

Israel had encouraged Biden’s trip to Saudi Arabia, hoping it would lead to warmer ties between it and Riyadh as part of a wider Arab rapprochement

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Middle East

UAE hands 3-year term to ex-Khashoggi lawyer.

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AUnited Arab Emirates court handed a three-year prison sentence to an American citizen and the former lawyer of Jamal Khashoggi on charges of money laundering and tax evasion.

The lawyer, U.S. citizen Asim Ghafoor, was also ordered to pay a fine of $816,748 stemming from his in absentia conviction, the UAE’s state-run WAM news agency reported late Saturday, adding that he would be deported after completing his sentence.

Ghafoor’s lawyer dismissed the charges as “absolutely not accurate at all.”

“I’m just hoping for a fair trial. I hope there’s no political motivation here,” his U.S.-based lawyer Faisal Gill said. “He had never heard anything about these charges and all of a sudden he’s put in jail.”

The UAE framed Ghafoor’s arrest as a coordinated move with the U.S. to “combat transnational crimes.” Emirati state-run media said American authorities had requested the UAE’s help with an investigation into Ghafoor’s alleged tax evasion and suspicious money transfers in the Emirates.

Gill cast doubt on that claim, saying, “If the U.S. had anything against him, why wouldn’t they just deal with it in the U.S.?”

The autocratic Gulf Arab sheikhdom announced the prison sentence a day after Washington-based human rights watchdog Democracy for the Arab World Now, DAWN, raised alarm about its board member’s arrest from Dubai International Airport.

DAWN said that Ghafoor, a close friend of Khashoggi who previously represented him and his fiancée, Hatice Cengiz, was in transit to Istanbul on Thursday to attend a wedding when plainclothes Emirati security agents scooped him up and sent him to an Abu Dhabi detention facility before he could change planes.

The U.S. Embassy in Abu Dhabi did not immediately respond to a request for comment

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energy

Saudi Arabia doubles Q2 Russian fuel oil imports for power.

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Saudi Arabia, the world’s largest oil exporter, more than doubled the amount of Russian fuel oil it imported in the second quarter to feed power stations to meet summer cooling demand and free up the kingdom’s own crude for export, data showed and traders said.

Russia has been selling fuel at discounted prices after international sanctions over its invasion of Ukraine left it with fewer buyers. Moscow calls the war in Ukraine a “special military operation.”

The increased sales of fuel oil, used in power generation, to Saudi Arabia show the challenge that U.S. President Joe Biden faces as his administration seeks to isolate Russia and cut its energy export revenues.

While many countries have banned or discouraged purchases from Russia, China, India and several African and Middle Eastern nations have increased imports.

Biden is due to visit Saudi Arabia later this week, when he is expected to seek an increase in oil supply to global markets from the kingdom to help lower oil prices that have aggravated inflation worldwide.

There is little spare capacity for Saudi and others to increase production in the short term. Saudi Arabia has also maintained its cooperation with Russia in the alliance of global producers known as OPEC+. The two are the de facto leaders of respectively the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers in that group.

Data obtained by Reuters through Refinitiv Eikon ship tracking showed Saudi Arabia imported 647,000 tons (48,000 barrels per day (bpd)) of fuel oil from Russia via Russian and Estonian ports in April-June this year. That was up from 320,000 tons in the same period a year ago.

For the full year 2021, Saudi Arabia imported 1.05 million tons of Russian fuel oil.

Saudi Arabian and Russian energy ministries declined to comment on the increased imports.

Saudi Arabia has for several years imported Russian fuel oil, which can reduce its need to refine crude for products and cut the amount of oil it needs to burn for power, leaving it with more unrefined crude to sell on international markets at higher prices.

The kingdom turns to oil to meet power needs, which typically peak as demand for cooling rises with summer temperatures. Some Saudi cities are far from natural gas fields that could provide cleaner fuel for power generation.

The volume of crude burnt is about 600,000 bpd in summer months and 300,000 bpd in winter months, figures from the Joint Organisations Data Initiative (JODI) show. Increased use of natural gas has reduced the amount from as much as 1 million bpd in 2010.

Hub in Fujairah
Saudi Arabia has also imported more Russian fuel oil via the Middle East oil hub of Fujairah in the United Arab Emirates (UAE), traders said.

Fujairah has received 1.17 million tons of Russian fuel oil so far this year, according to ship tracking, compared to 900,000 in the same period last year.

An extra 900,000 could be delivered to Fujairah in July alone, according to ship tracking, bringing the total to 2.1 million so far this year, exceeding the 1.64 million tons for the whole of 2021.

Much of the fuel oil in Fujairah is sold there as fuel for ships, but some of it is shipped to neighbouring countries. It is unclear how much additional Russian fuel is flowing to Saudi Arabia via Fujairah.

Saudi has expanded its refining capacity to 3.6 million bpd from 2.9 million in 2017.

Its refining utilisation rates stood at 70%-73% in April-June this year, despite output rising to above 10 million bpd.

This compares to 75%-95% in the same periods of 2017-2019, the last time its production was not severely reduced by output cuts by the OPEC+.

Meanwhile, exports of crude and products were at – or close – to an all-time high 9 million bpd in February-April, Joint Organisations Data Initiative (JODI) figures showed, with crude exports alone at or close to 7.3 million bpd.

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Middle East

Israel, UAE normalization may come “too late” – Experts saying.

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The United States has hinted that more Arab nations could take steps to improve ties with Israel, ahead of President Joe Biden’s trip to the Middle East.

All eyes are on Saudi Arabia, which Biden will visit in mid-July after he once vowed to treat the kingdom as a “pariah” state over the 2018 murder and dismemberment of Saudi journalist Jamal Khashoggi.

However, despite the recent signs of a U.S.-Saudi rapprochement, analysts say it is improbable Riyadh will agree to diplomatic ties with Israel – not during Biden’s visit or while King Salman, 86, still reigns.

The king’s official policy is that there should be no peace with Israel until it withdraws from occupied territories and accepts Palestinian statehood.

Biden’s visit will likely focus on convincing the world’s biggest crude exporter to boost its oil output.

Here are some questions and answers about the possibility of a normalization deal between Saudi Arabia and Israel:

What are the signs?
Saudi’s de facto ruler Crown Prince Mohammed bin Salman (MBS) has said Israel was a “potential ally, with many interests that we can pursue together,” state media reported in March, attributing the statement to an interview with The Atlantic.

Additionally, the kingdom never showed any opposition when its regional ally, the United Arab Emirates (UAE), established diplomatic ties with Israel in 2020, followed by Bahrain and Morocco under the U.S.-brokered Abraham Accords.

In January 2021, Sudan’s transitional government also agreed to do so but the northeast African country has yet to finalize the deal.

Saudi Arabia also at the time allowed direct flights from the Emirates to Israel to travel through its airspace, in another implicit sign of approval.

Biden, who will also visit Israel, is to travel directly from the Jewish state to Saudi Arabia, becoming the first U.S. president to fly from there to an Arab nation that does not recognize Israel.

In 2017 his predecessor, Donald Trump, made the journey in reverse.

In recent months, Saudis have taken to social media – which is tightly controlled in the kingdom – to express their support for normalization, which would be a shift from the kingdom’s long-standing pan-Arab policy to isolate Israel until the conflict with the Palestinians is resolved.

Esawi Frej, Israel’s minister of regional cooperation, told Saudi newspaper Arab News earlier in June that Riyadh would be “central” to any solution to the Israeli-Palestinian conflict.

The Axios news website reported, also this month, that the United States was working on a “road map” for normalization between Israel and Saudi Arabia, while The Wall Street Journal said the region’s two most influential nations were engaging in secret economic and security talks.

In both countries’ interests?
Yasmine Farouk of the Carnegie Endowment for International Peace said a relationship with Israel will contribute to greater acceptance of Saudi Arabia.

“It will open doors for the crown prince, with Western people and parliaments accepting the kingdom, and granting Saudi Arabia a greater role,” she said.

“It will make a change, whether just in regards to the image of Saudi Arabia … especially since (MBS) sees it as a global power, not just an Arab and Islamic one.”

She said that Israel would want normalization “because not only will it open the door to Saudi Arabia, but to other (Arab and Muslim) countries that may already engage in secret discussions with Israel but don’t dare normalize yet.”

The two countries share a common enemy in Iran, said a Riyadh-based diplomat who spoke on condition of anonymity.

“They are looking at it in the sense of ‘the enemy of my enemy is my friend’,” he said.

Two Saudi officials contacted by Agence France-Presse (AFP) refused to comment due to the “sensitivity” of the issue.

Is it the right time?
Dan Shapiro, who served as former U.S. President Barack Obama’s ambassador to Israel, told AFP he expects Biden’s trip can produce “some important steps” towards Saudi diplomatic recognition of Israel, “probably not full normalisation, but a road map that leads in that direction.”

But “not now,” said Farouk. “It’s difficult as long as King Salman is alive.

“The word ‘normalization’ should be used more cautiously … There might be some forms of relations but going as far as the Emirates and Bahrain, I’m still a bit sceptical.”

Kristian Ulrichsen of Rice University’s Baker Institute said full diplomatic ties are likely only when Prince Mohammed becomes king.

“In the meantime, we are likely to see a continuation of the current approach of normalizing the idea that Saudi Arabia and Israel are not enemies but share certain regional and geopolitical interests,” he told AFP

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UAE

Saudi Crown Prince MBS planning to visit Turkey

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Saudi Crown Prince Mohammed bin Salman (MBS) is planning a trip to Turkey and several other countries soon, sources familiar with the plans said on Monday, in a visit that would come as Ankara and Riyadh aim to mend ties.

Erdoğan late last month visited the kingdom in the first high-level visit in years, which followed intense efforts in recent months to repair some diplomatic damage after a decade of tension, especially after the 2018 murder of dissident Saudi journalist Jamal Khashoggi in Saudi Arabia’s Istanbul Consulate.

In addition to Turkey, four sources told Reuters that MBS will also be visiting Greek Cyprus, Greece, Jordan and Egypt where he will discuss regional and international issues and ink agreements in energy and trade.

This would be the prince’s first tour outside the region since the Khashoggi murder and the outbreak of the COVID-19 pandemic. He visited Japan for a G-20 summit in 2019.

Saudi officials are still discussing the exact dates with the countries the crown prince is visiting, the sources said. Two of them added that the trip could happen as soon as early June.

One of the sources, a senior Turkish official, said MBS, the kingdom’s de facto ruler, accepted Erdoğan’s invitation to visit and both sides were working to schedule it.

“Topics to be discussed are bilateral trade, regional developments, the possible (currency) swap deal and other investment and energy projects,” the official said.

MBS’ last tour was of fellow Gulf Arab states last year.

Following his trip to Saudi Arabia that came upon Saudi King Salman’s invitation, Erdoğan said Ankara and Riyadh were striving to increase all kinds of political, military and economic relations to “start a new era.”

He said the sides were determined to accelerate efforts for the common interests and stability of the region.

“We agreed with Saudi Arabia to reactivate a great economic potential through organizations that will bring our investors together,” Erdoğan said.

Over the past year, Ankara has embarked on a diplomatic push to reset relations with regional powers such as Israel, Egypt, the UAE and Saudi Arabia after years of antagonism

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Diplomacy

‘Turkey’s normalization with Gulf countries will be of benefit to all’

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The normalization process launched with Saudi Arabia and the United Arab Emirates (UAE) will make great contributions to both sides, President Recep Tayyip Erdoğan said Thursday.

Addressing a group of young people in the capital Ankara in a meeting to mark the May 19 Commemoration of Atatürk, Youth and Sports Day, Erdoğan said that Turkey has common grounds and interests with both Saudi Arabia and the UAE. Responding to a question on how the ties with both Gulf countries have changed quickly, the president said that there are always ups and downs in politics.

“These are our Muslim brothers. Sometimes we have had some difficulties, just as there is a fuss in the family, but we have overcome these problems now. We have now planned and are taking steps for all of our commercial relations, industry, defense industry, cultural and tourism, by overcoming them with both Saudi Arabia and Abu Dhabi administration.”

Erdoğan noted that he recently visited the UAE to offer his condolences after the death of its ruler and meet with the new president. The UAE named the Abu Dhabi crown prince Sheikh Mohammed bin Zayed Al Nahyan (MBZ) its new president following the death of his half-brother, Sheikh Khalifa bin Zayed Al Nahyan, last Friday.

“Currently, our relations with Saudi Arabia are developing in a much more positive direction. I believe that this process that we started with both countries will make very important contributions to both countries, both in terms of trade and especially in terms of political relations. While we share our knowledge with them in the fields of the defense industry, I hope that we will take the opportunity to share their knowledge by making use of them. The developments are good at the moment,” he added.

Turkey and Saudi Arabia are striving to increase all kinds of political, military and economic relations to start a new era, Erdoğan said last month following his visit to the country.

Over the past year, Ankara has embarked on a diplomatic push to reset relations with regional powers such as Israel, Egypt, the UAE and Saudi Arabia after years of antagonism. Erdoğan had reiterated that Turkey hopes to maximize its cooperation with Israel, Egypt and Gulf nations “on a win-win basis,” at a time when Ankara intensified diplomacy to mend its fraught ties with these regional powers after years of tensions.

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In the news

Buhari jets to Abu To meet newly elected President.

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President Muhammadu Buhari will leave on Thursday for the United Arab Emirates (UAE) to meet with the Asian nation’s new President, Sheikh Mohamed bin Zayed.

Announcing his departure, presidential spokesperson Garba Shehu said the President’s trip is to convey his condolences on the passing of the former president and Ruler of Abu Dhabi, Sheikh Khalifa bin Zayed.

The President “will also extend his congratulations to the new President, renewing bonds of the longstanding friendship between Nigeria and the UAE.

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“The President, in an earlier congratulatory message to the new UAE leader, had reaffirmed Nigeria’s cordial relationship with the country, noting that the cooperation between both governments have helped Nigeria in tracking down illegal assets and tracing terrorist funds.

“Under the new leadership, President Buhari looks forward to a bigger and stronger partnership for peace, stability and prosperity of both countries.

“President Buhari will be accompanied by the Minister of State Foreign Affairs, Amb. Zubairu Dada, the Minister of Communications and Digital Economy, Prof. Isa Ali Pantami, the Minister of Federal Capital Territory, Mohammed Bello, and the Minister of Aviation, Senator Hadi Sirika.

“Other members of his delegation are the National Security Adviser, Maj. Gen. Mohammed Monguno (Rtd) and the Director-General, National Intelligence Agency, Ambassador Ahmed Rufai Abubakar.”

The President is expected back in the country on Saturday

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Diplomacy

Buhari departs to Abu Dhabi.

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President Muhammadu Buhari will leave on Thursday for the United Arab Emirates (UAE) to meet with the Asian nation’s new President, Sheikh Mohamed bin Zayed.

Announcing his departure, presidential spokesperson Garba Shehu said the President’s trip is to convey his condolences on the passing of the former president and Ruler of Abu Dhabi, Sheikh Khalifa bin Zayed.

The President “will also extend his congratulations to the new President, renewing bonds of the longstanding friendship between Nigeria and the UAE.

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“The President, in an earlier congratulatory message to the new UAE leader, had reaffirmed Nigeria’s cordial relationship with the country, noting that the cooperation between both governments have helped Nigeria in tracking down illegal assets and tracing terrorist funds.

“Under the new leadership, President Buhari looks forward to a bigger and stronger partnership for peace, stability and prosperity of both countries.

“President Buhari will be accompanied by the Minister of State Foreign Affairs, Amb. Zubairu Dada, the Minister of Communications and Digital Economy, Prof. Isa Ali Pantami, the Minister of Federal Capital Territory, Mohammed Bello, and the Minister of Aviation, Senator Hadi Sirika.

“Other members of his delegation are the National Security Adviser, Maj. Gen. Mohammed Monguno (Rtd) and the Director-General, National Intelligence Agency, Ambassador Ahmed Rufai Abubakar.”

The President is expected back in the country on Saturday

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Diplomacy

Erdoğan visits UAE to honor late Sheikh Khalifa.

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President Recep Tayyip Erdoğan paid a visit to the United Arab Emirates (UAE) on Tuesday to offer his condolences after the death of its ruler and meet with the new president.

The UAE named the Abu Dhabi crown prince Sheikh Mohammed bin Zayed Al Nahyan (MBZ) its new president following the death of his half-brother, Sheikh Khalifa bin Zayed Al Nahyan, last Friday.

Erdoğan and his delegation were welcomed by the new leader at the airport.

During his trip to Abu Dhabi, Erdoğan will hold a bilateral meeting with Sheikh Mohammed, a statement by the Turkish Communications Directorate said.

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An array of world leaders descended over the weekend to honor the late Sheikh Khalifa, including French President Emmanuel Macron and British Prime Minister Boris Johnson.

U.S. Vice President Kamala Harris led a high-powered American delegation to the UAE on Monday. The delegation included Secretary of State Antony Blinken, Defense Secretary Lloyd Austin, CIA Director William Burns and climate envoy John Kerry, among others.

Saudi Arabia Crown Prince Mohammed bin Salman (MBS) also headed to the UAE on Monday to offer condolences, state media reported.

MBZ has served as the country’s de facto ruler and shaped the country’s foreign policy since Sheikh Khalifa suffered a stroke nearly a decade ago.

Sheikh Khalifa, the UAE’s long-ailing ruler, also known as a pro-Western modernizer who had aligned the Gulf Arab state closer to the United States and its allies, passed away at the age of 73 after battling illness for several years.

Born in 1948, Sheikh Khalifa was chosen in 2004 to succeed his long-serving father, Sheikh Zayed bin Sultan Al Nahyan, who ascended the throne in 1971

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Diplomacy

Erdoğan condoles with UAE over death of Sheikh Khalifa

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President Recep Tayyip Erdoğan on Friday extended his condolences to the people of the United Arab Emirates (UAE) over the death of Sheikh Khalifa bin Zayed Al Nahyan.

“I received with great sadness and sorrow the news of the death of the President of the United Arab Emirates and the Ruler of Abu Dhabi, my dear brother Sheikh Khalifa bin Zayed Al Nahyan,” Erdoğan wrote in Turkish and Arabic on Twitter.

Sheikh Khalifa, the president of the UAE, oversaw much of the country’s blistering economic growth and his name was immortalized on the world’s tallest building, the Burj Khalifa, after bailing out debt-crippled Dubai during its financial crisis over a decade ago.

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The UAE’s Ministry of Presidential Affairs announced a 40-day period of mourning and a three-day suspension of work across the government and private sector, including flags to be flown at half-staff. Condolence messages from all over poured in, foremost the leaders of Arab countries supported by Abu Dhabi.

Sheikh Khalifa had long ceased having involvement in the day-to-day affairs of ruling the country after suffering a stroke and undergoing emergency surgery in 2014, a decade after becoming president.

His half-brother, Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan (MBZ), was seen as the country’s powerful de-facto ruler and decision-maker of major foreign policies, such as joining a Saudi-led war in Yemen and spearheading an embargo on neighboring Qatar in recent years.

There was no immediate announcement about a successor, although MBZ is expected to claim the presidency as Abu Dhabi’s crown prince

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