President Sheikh Mohamed paid tribute to the sacrifice and bravery of those who have selflessly given their lives in defence of the UAE, ahead of Commemoration Day tomorrow.
He said their actions will serve to inspire generations to come and “serve as emblems of pride and honour for every Emirati”.
The Emirates observes Commemoration Day every November 30 to recognise members of the armed forces who lost their lives protecting the country.
Sheikh Mohamed, in a Commemoration Day address carried by state news agency Wam on Tuesday, said the day is an occasion to “honour the memory of a revered group of our nation's heroes who proved their true courage and their loyalty to both God and our homeland”.
“Commemoration Day is an occasion of profound significance to our beloved nation, a day on which we pay tribute to our martyrs,” he said.
“We proudly and gratefully recall their sacrifices and acts of bravery, and we share these stories with our children and grandchildren.
“In doing so, we ensure that their tales of devotion and sacrifice remain alive in the consciousness of future generations, inspiring them to embrace these values of patriotism and be ready to heed the nation's call, whenever and wherever it may arise.
“Our fallen heroes selflessly gave their lives in defence of the UAE, its people, its values, and its sovereignty. Our obligation is to preserve their names and memories, and uphold the values and ideals for which they stood.”
The late President Sheikh Khalifa introduced Commemoration Day in 2015.
It was initially introduced to commemorate Salem Suhail bin Khamis, who died on November 30, 1971, while fighting Iranian forces on the island of Greater Tunb.
Sheikh Mohamed described Commemoration Day as a “special day for our nation” when the country extends its “deepest thanks and gratitude to the families and relatives of our heroes”.
“We honour their sacrifices and their deep love for our country and reaffirm that supporting them will remain our top priority,” he said.
“The sacrifice of their loved ones places upon us a lasting responsibility, one we are committed to fulfilling for all eternity.
“Today, as we commemorate our brave heroes, we affirm that they laid down their lives in defence of justice, in support of security and stability, and in pursuit of peace.”
He said the UAE “has always been, and will continue to be, an advocate for peace and co-operation, because we believe this is the way to fulfil the aspirations of people around the world for progress and prosperity”.
“May God bestow his mercy upon our honourable heroes, safeguard the UAE and its people, and grant peace and stability to our nation, the region, and the world,” he said.
In a post shared on social media on Thursday, Sheikh Mohamed honoured the UAE's “brave heroes”.
“Today we honour the UAE's brave heroes who gave their lives in defence of justice, in support of security and stability, and in pursuit of peace.
“We pray that they are granted eternal rest, and that their families and loved ones are blessed with solace and comfort,” Sheikh Mohamed wrote on X.
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said on Thursday that Commemoration Day is one of pride for the country.
“Martyr's Day is a day of pride for the nation … a day of remembrance of the sacrifices and heroism of the nation's people … a day of appreciation for the mothers and fathers of the nation's martyrs,” he wrote on X.
Indelible mark of pride
Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, said Commemoration Day honours “the nation's heroes who have left an indelible mark of pride and honour through their selfless contributions”, news agency Wam reported.
In a statement, Sheikh Dr Sultan said the nation's martyrs “presented the noblest examples of dedication, sacrifice, and redemption in serving the nation, all in pursuit of elevating its standing and upholding its noble banner”.
Sheikh Hamad bin Mohammed Al Sharqi, Ruler of Fujairah, said Commemoration Day is an occasion to remember the heroic martyrs who defended the pride and dignity of the UAE.
“It is a source of pride for us to witness the honouring of martyrs of the homeland in recognition and appreciation of their sacrifices and acts of patriotism, as they represent an immortal example of national unity and belonging,” Sheikh Hamad said.
“The sacrifices of the brave martyrs reflected the spirit of loyalty and belonging to the homeland. It has had a profound impact on the people of the UAE,” he added.
“They are a source of inspiration for all. They gave their lives for the homeland and showed the strength of determination and sacrifice.”
Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, said Commemoration Day is an occasion to express the pride and gratitude of Emiratis in the sacrifices of the martyrs who have demonstrated their loyalty to the country.
“They are the ones who protected the UAE, fulfilled their covenant and were loyal to their duty to their nation, their leadership, and their people,” Sheikh Saud said.
“The fields of pride and honour bore witness to their sacrifices. For their heroism, they are the ones who sacrificed their precious lives in sacrifice and defence of the homeland and to defend their homeland’s gains, security and stability.”
Sheikh Saud bin Rashid Al Mualla, Ruler of Umm Al Quwain, said: “The martyr's acts of heroism will remain immortal in the history and the memory of the country, as well as hearts of Emiratis.”
Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman, said the UAE “has spared no expense in pursuing its noblest goal: preserving the dignity of humanity wherever it may be”.
“They [martyrs] are champions of truth, beacons of goodness, and symbols of pride and human dignity,” Sheikh Humaid said.
“Their blessed sacrifices are a guiding light that illuminates nations and generations, elevating the values of sacrifice and redemption and instilling in hearts the meanings of respect and reverence for every sacrifice made by the country's beloved sons for the glory of religion and country.”
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
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Fines for littering
In Dubai:
Dh200 for littering or spitting in the Dubai Metro
Dh500 for throwing cigarette butts or chewing gum on the floor, or littering from a vehicle.
Dh1,000 for littering on a beach, spitting in public places, throwing a cigarette butt from a vehicle
In Sharjah and other emirates
Dh500 for littering - including cigarette butts and chewing gum - in public places and beaches in Sharjah
Dh2,000 for littering in Sharjah deserts
Dh500 for littering from a vehicle in Ras Al Khaimah
Dh1,000 for littering from a car in Abu Dhabi
Dh1,000 to Dh100,000 for dumping waste in residential or public areas in Al Ain
Dh10,000 for littering at Ajman's beaches
MATCH INFO
Sheffield United 2 Bournemouth 1
United: Sharp (45 2'), Lundstram (84')
Bournemouth: C Wilson (13')
Man of the Match: Jack O’Connell (Sheffield United)
Indika
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The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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A Bad Moms Christmas
Dir: John Lucas and Scott Moore
Starring: Mila Kunis, Kathryn Hahn, Kristen Bell, Susan Sarandon, Christine Baranski, Cheryl Hines
Two stars
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The view from The National
COMPANY PROFILE
Company name: Blah
Started: 2018
Founder: Aliyah Al Abbar and Hend Al Marri
Based: Dubai
Industry: Technology and talent management
Initial investment: Dh20,000
Investors: Self-funded
Total customers: 40
Key changes
Commission caps
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.
UAE currency: the story behind the money in your pockets
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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.”
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Mohammed bin Zayed Majlis
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
The biog
Name: Dhabia Khalifa AlQubaisi
Age: 23
How she spends spare time: Playing with cats at the clinic and feeding them
Inspiration: My father. He’s a hard working man who has been through a lot to provide us with everything we need
Favourite book: Attitude, emotions and the psychology of cats by Dr Nicholes Dodman
Favourit film: 101 Dalmatians - it remind me of my childhood and began my love of dogs
Word of advice: By being patient, good things will come and by staying positive you’ll have the will to continue to love what you're doing
