• President Sheikh Mohamed arrives for the G20 Summit in Nusa, Bali. Photo: UAE Presidential Court
    President Sheikh Mohamed arrives for the G20 Summit in Nusa, Bali. Photo: UAE Presidential Court
  • US President Joe Biden, right, and China's President Xi Jinping, left, shake hands at the summit. AFP
    US President Joe Biden, right, and China's President Xi Jinping, left, shake hands at the summit. AFP
  • Canada's Prime Minister Justin Trudeau arrives. AFP
    Canada's Prime Minister Justin Trudeau arrives. AFP
  • French President Emmanuel Macron is welcomed. AFP
    French President Emmanuel Macron is welcomed. AFP
  • Chinese President Xi Jinping (R) arrives. EPA
    Chinese President Xi Jinping (R) arrives. EPA
  • Turkey's President Recep Tayyip Erdogan and his wife Emine Erdogan arrive to attend the meeting. AFP
    Turkey's President Recep Tayyip Erdogan and his wife Emine Erdogan arrive to attend the meeting. AFP
  • Prime Minister of Japan Fumio Kishida and his wife Yuko Kishida arrive. Reuters
    Prime Minister of Japan Fumio Kishida and his wife Yuko Kishida arrive. Reuters
  • Australian Prime Minister Anthony Albanese arrives. Reuters
    Australian Prime Minister Anthony Albanese arrives. Reuters
  • Students wave flags of G20 member nations to greet world leaders, on a street near Ngurah Rai International airport in Bali. EPA
    Students wave flags of G20 member nations to greet world leaders, on a street near Ngurah Rai International airport in Bali. EPA
  • US President Joe Biden and Indonesia's President Joko Widodo hold a meeting in Bali. AFP
    US President Joe Biden and Indonesia's President Joko Widodo hold a meeting in Bali. AFP
  • A video by Amazon and Bezos Earth Fund executive chairman Jeff Bezos is displayed at the B20 Summit for business leaders, held before the G20 leaders summit. AP
    A video by Amazon and Bezos Earth Fund executive chairman Jeff Bezos is displayed at the B20 Summit for business leaders, held before the G20 leaders summit. AP
  • US President Joe Biden arrives for the summit in Bali. AFP
    US President Joe Biden arrives for the summit in Bali. AFP
  • Russia's Foreign Minister Sergey Lavrov (R) arrives to attend the G20 summit. AFP
    Russia's Foreign Minister Sergey Lavrov (R) arrives to attend the G20 summit. AFP
  • South Korean President Yoon Suk-yeol and his wife Kim Keon-hee arrive. EPA
    South Korean President Yoon Suk-yeol and his wife Kim Keon-hee arrive. EPA
  • British Prime Minister Rishi Sunak holds a 'huddle' press conference with political journalists on board a plane heading for Bali. PA
    British Prime Minister Rishi Sunak holds a 'huddle' press conference with political journalists on board a plane heading for Bali. PA
  • Tourists pose for pictures in front of police-armoured vehicles parked near the venue of the G20 Bali Summit in Nusa Dua, Bali. AFP
    Tourists pose for pictures in front of police-armoured vehicles parked near the venue of the G20 Bali Summit in Nusa Dua, Bali. AFP
  • Indonesia is gearing up to host leaders of the world's biggest economies. AP Photo
    Indonesia is gearing up to host leaders of the world's biggest economies. AP Photo
  • A plane comes in to land at Ngurah Rai International Airport in Bali. AFP
    A plane comes in to land at Ngurah Rai International Airport in Bali. AFP
  • Bali will host the 17th Group of 20 Heads of State and Government Summit from November 15 to 16. EPA
    Bali will host the 17th Group of 20 Heads of State and Government Summit from November 15 to 16. EPA
  • Flags of the participating countries line a motorway. AFP
    Flags of the participating countries line a motorway. AFP
  • Hindus join the Melaspas and Mecaru rituals ahead of the G20 meeting. Reuters
    Hindus join the Melaspas and Mecaru rituals ahead of the G20 meeting. Reuters
  • The logo of the G20 summit, in Jakarta. AFP
    The logo of the G20 summit, in Jakarta. AFP
  • Indonesian military personnel take part in a security drill for the G20 meeting in Denpasar, Bali's main city. EPA
    Indonesian military personnel take part in a security drill for the G20 meeting in Denpasar, Bali's main city. EPA
  • Indonesian military personnel prepare for the G20 meeting. Reuters
    Indonesian military personnel prepare for the G20 meeting. Reuters
  • An Indonesian police officer stands in front of a portrait of President Joko Widodo. EPA
    An Indonesian police officer stands in front of a portrait of President Joko Widodo. EPA
  • Part of the security drill in Denpasar. Reuters
    Part of the security drill in Denpasar. Reuters
  • Indonesian police officers. EPA
    Indonesian police officers. EPA
  • Female police officers stand to attention during a security parade. AP Photo
    Female police officers stand to attention during a security parade. AP Photo
  • Soldiers during a security parade. AP Photo
    Soldiers during a security parade. AP Photo
  • Military honour guards at a security parade. AP Photo
    Military honour guards at a security parade. AP Photo
  • Indonesian military personnel. AFP
    Indonesian military personnel. AFP
  • Indonesian military personnel on the resort island of Bali. AFP
    Indonesian military personnel on the resort island of Bali. AFP

World

G20: Biden and Xi warn against nuclear weapon use amid rising Ukraine tensions

The leaders also discuss a range of disagreements between China and the US in their first in-person presidential talks ahead of the G20 summit in Indonesia

Indranil Ghosh
Indranil Ghosh
Nusa Dua, Indonesia

November 14, 2022

  • English
  • Arabic

US President Joe Biden met his Chinese counterpart Xi Jinping on Monday, discussing the intense rivalry between the two superpowers, which has encompassed everything from growing nuclear arsenals to trade wars over technology and a naval buildup by both sides in the Pacific.

The leaders met face to face a day before the opening of the G20 conference in the Indonesian resort of Bali, where they shook hands and sat across from each other at the luxury Mulia Resort along Nusa Dua's Bay in the southern part of the island.

In a meeting that lasted three hours, Mr Xi said as leaders of two major countries, they need to chart the right course and direction for bilateral ties and elevate their relationship.

He told Mr Biden the world was "big enough" for both nations to prosper.

Mr Biden said the two nations share the responsibility to show the world that they can "manage our differences, prevent competition from becoming conflict".

After Monday's meeting, US Secretary of State Antony Blinken will travel to China, the White House said.

Talks will also resume on matters including climate change, economic stability and debt relief, as well as health and food security, according to the statement.

In a press conference following the bilateral meeting, Mr Biden said he wants to ensure there are no misunderstandings with China.

While he wouldn't be able to work everything out, there was "no need for concern for a new cold war," he said.

Mr Xi also said his country is "deeply concerned" about the situation in Ukraine, Beijing's foreign ministry said.

This was the first in-person talk between the heads of the world’s biggest economies since Mr Biden took office.

"There’s little substitute for face-to-face discussions," Mr Biden said.

Still, Mr Biden raised concerns about matters in Xinjiang, Tibet, and Hong Kong, and more broadly on China's human rights.

  • US President Joe Biden holds virtual talks with Chinese President Xi Jinping from the White House in Washington in March. Reuters
    US President Joe Biden holds virtual talks with Chinese President Xi Jinping from the White House in Washington in March. Reuters
  • The virtual summit between the presidents, which lasted more than three hours, is displayed on screens in Beijing. Getty
    The virtual summit between the presidents, which lasted more than three hours, is displayed on screens in Beijing. Getty
  • Mr Biden speaks to Mr Xi, again virtually, from the Roosevelt Room of the White House last November. EPA
    Mr Biden speaks to Mr Xi, again virtually, from the Roosevelt Room of the White House last November. EPA
  • In 2015, US president at the time Barack Obama (2R), Mr Xi (2L) and their delegations meet at the White House, with then vice president Joe Biden (3R) and Secretary of State John Kerry also participating. Reuters
    In 2015, US president at the time Barack Obama (2R), Mr Xi (2L) and their delegations meet at the White House, with then vice president Joe Biden (3R) and Secretary of State John Kerry also participating. Reuters
  • The pair shake hands in the Great Hall of the People in Beijing in December 2013. Getty
    The pair shake hands in the Great Hall of the People in Beijing in December 2013. Getty
  • The pair meet in Los Angeles in February 2012, when each was vice president. EPA
    The pair meet in Los Angeles in February 2012, when each was vice president. EPA
  • Mr Biden speaks to a Mandarin language class in South Gate, California, in February 2012, as Mr Xi listens. EPA
    Mr Biden speaks to a Mandarin language class in South Gate, California, in February 2012, as Mr Xi listens. EPA
  • Mr Xi applauds next to US secretary of state Hillary Clinton and Mr Biden (L) at a luncheon at the State Department in Washington in February 2012. Reuters
    Mr Xi applauds next to US secretary of state Hillary Clinton and Mr Biden (L) at a luncheon at the State Department in Washington in February 2012. Reuters
  • Mr Biden and Mr Xi make their way to view an honour guard during a welcoming ceremony in Beijing in August 2011. Getty
    Mr Biden and Mr Xi make their way to view an honour guard during a welcoming ceremony in Beijing in August 2011. Getty
  • The pair inspect the honour guard at Great Hall of the People, Beijing, in 2011, part of Mr Biden's official visit to China. Getty
    The pair inspect the honour guard at Great Hall of the People, Beijing, in 2011, part of Mr Biden's official visit to China. Getty

He told Mr Xi the US remains committed to its One-China policy, while raising objections to China's increasingly aggressive actions towards Taiwan.

Mr Xi said the the Taiwan question is the first red line that must not be crossed in US-China relations.

Indeed, both leaders appeared to have been emboldened by their recent wins at home.

While Mr Xi had recently secured a third term that firmly entrenched him as China’s most powerful recent leader, Mr Biden had been lifted by his party’s results in the US midterms.

The pair had last met in 2017, when Mr Biden was vice president.

No nuclear weapons

Both on Monday agreed that nuclear weapons should never be used, including in Ukraine, the White House said.

Ahead of the meeting, China’s foreign ministry spokeswoman Mao Ning said it expected the meeting to bring relations back on track.

Relations between the two sides have been fraught with tension over issues ranging from Hong Kong and Taiwan to the South China Sea, trade practices and US restrictions on Chinese technology.

Still, there have been efforts by both Beijing and Washington to mend differences.

US Treasury Secretary Janet Yellen said in Bali earlier the Biden-Xi meeting was aimed at stabilising the relationship and create an air of certainty for US businesses.

Mild hiccup

Pre-summit proceedings suffered a mild hiccup earlier in the evening following an AP report that Russian Foreign Minister Sergei Lavrov had been taken to hospital. Mr Lavrov, though, said he was in his hotel and preparing for the G20 summit, Russian state-owned TASS reported.

Mr Lavrov, 72, is Russia's longest-serving foreign minister, having held the post since 2004.

British PM Rishi Sunak arrives for the G20 meeting on November 14 in Nusa Dua, Indonesia. Getty Images
British PM Rishi Sunak arrives for the G20 meeting on November 14 in Nusa Dua, Indonesia. Getty Images

Besides Mr Lavrov, who was sent as his replacement by Russian President Vladimir Putin, a string of world leaders including British PM Rishi Sunak, Japanese Prime Minister Fumio Kishida and Australia's Anthony Albanese arrived on Monday for the summit.

Mr Sunak's office said he would condemn Russia's action in Ukraine at the talks, urge a deal with Moscow allowing the extension of safe passage of grain shipments from its neighbour, and call for commitment never to weaponise food production and distribution.

Mr Sunak will also hold bilateral meetings with Mr Biden, Mr Kishida, Mr Albanese and Indian PM Narendra Modi, whose country will host the G20 next year.

Meanwhile, UN Secretary General Antonio Guterres, addressing the media in Bali on Monday, said the grain deal is crucial for the world's food security.

"We need urgent action to prevent famine and hunger in a growing number of places around the world," he said. "The Black Sea Grain Initiative, and efforts to ensure Russian food and fertilisers can flow to global markets, are essential to global food security."

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 specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

The specs

Price: From Dh180,000 (estimate)

Engine: 2.0-litre turbocharged and supercharged in-line four-cylinder

Transmission: Eight-speed automatic

Power: 320hp @ 5,700rpm

Torque: 400Nm @ 2,200rpm

Fuel economy, combined: 9.7L / 100km

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E3.0-litre%20twin-turbo%20V6%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E10-speed%20auto%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E400bhp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E563Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EDh320%2C000%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
BUNDESLIGA FIXTURES

Friday (UAE kick-off times)

Borussia Dortmund v Paderborn (11.30pm)

Saturday 

Bayer Leverkusen v SC Freiburg (6.30pm)

Werder Bremen v Schalke (6.30pm)

Union Berlin v Borussia Monchengladbach (6.30pm)

Eintracht Frankfurt v Wolfsburg (6.30pm)

Fortuna Dusseldof v  Bayern Munich (6.30pm)

RB Leipzig v Cologne (9.30pm)

Sunday

Augsburg v Hertha Berlin (6.30pm)

Hoffenheim v Mainz (9pm)

 

 

 

 

 

While you're here
Visa changes give families fresh hope

Foreign workers can sponsor family members based solely on their income

Male residents employed in the UAE can sponsor immediate family members, such as wife and children, subject to conditions that include a minimum salary of Dh 4,000 or Dh 3,000 plus accommodation.

Attested original marriage certificate, birth certificate of the child, ejari or rental contract, labour contract, salary certificate must be submitted to the government authorised typing centre to complete the sponsorship process

In Abu Dhabi, a woman can sponsor her husband and children if she holds a residence permit stating she is an engineer, teacher, doctor, nurse or any profession related to the medical sector and her monthly salary is at least Dh 10,000 or Dh 8,000 plus accommodation.

In Dubai, if a woman is not employed in the above categories she can get approval to sponsor her family if her monthly salary is more than Dh 10,000 and with a special permission from the Department of Naturalization and Residency Dubai.

To sponsor parents, a worker should earn Dh20,000 or Dh19,000 a month, plus a two-bedroom accommodation

 

 

 

COMPANY%20PROFILE
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Our commentary on Brexit
UFC%20in%20Abu%20Dhabi
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Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

How to help

Donate towards food and a flight by transferring money to this registered charity's account.

Account name: Dar Al Ber Society

Account Number: 11 530 734

IBAN: AE 9805 000 000 000 11 530 734

Bank Name: Abu Dhabi Islamic Bank

To ensure that your contribution reaches these people, please send the copy of deposit/transfer receipt to: juhi.khan@daralber.ae

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MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

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Company%20Profile
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ALRAWABI%20SCHOOL%20FOR%20GIRLS
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Planes grounded by coronavirus

British Airways: Cancels all direct flights to and from mainland China 

Hong Kong-based Cathay Pacific: Cutting capacity to/from mainland China by 50 per cent from Jan. 30

Chicago-based United Airlines: Reducing flights to Beijing, Shanghai, and Hong Kong

Ai Seoul:  Suspended all flights to China

Finnair: Suspending flights to Nanjing and Beijing Daxing until the end of March

Indonesia's Lion Air: Suspending all flights to China from February

South Korea's Asiana Airlines,  Jeju Air  and Jin Air: Suspend all flights

Company profile

Name: Dukkantek 

Started: January 2021 

Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani 

Based: UAE 

Number of employees: 140 

Sector: B2B Vertical SaaS(software as a service) 

Investment: $5.2 million 

Funding stage: Seed round 

Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office  

Result

2.15pm: Maiden Dh75,000 1,950m; Winner: Majestic Thunder, Tadhg O’Shea (jockey), Satish Seemar (trainer).

2.45pm: Handicap Dh80,000 1,800m; Winner: Tailor’s Row, Royston Ffrench, Salem bin Ghadayer.

3.15pm: Handicap Dh85,000 1,600m; Winner: Native Appeal, Adam McLean, Doug Watson.

3.45pm: Handicap Dh115,000 1,950m; Winner: Conclusion, Antonio Fresu, Musabah Al Muhairi.

4.15pm: Handicap Dh100,000 1,400m; Winner: Pilgrim’s Treasure, Tadhg O’Shea, Satish Seemar.

4.45pm: Maiden Dh75,000 1,400m; Winner: Sanad Libya, Richard Mullen, Satish Seemar.

5.15pm: Handicap Dh90,000 1,000m; Winner: Midlander, Richard Mullen, Satish Seemar

More on Quran memorisation:
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

Latest on coronavirus
The biog

Name: Dr Lalia Al Helaly 

Education: PhD in Sociology from Cairo

Favourite authors: Elif Shafaq and Nizar Qabbani.

Favourite music: classical Arabic music such as Um Khalthoum and Abdul Wahab,

She loves the beach and advises her clients to go for meditation.

Updated: November 14, 2022, 4:25 PM
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