• People receive a doses of the BioNTech/Pfizer vaccine at a vaccination clinic set up inside the Derby Arena at Pride Park in Derby. AFP
    People receive a doses of the BioNTech/Pfizer vaccine at a vaccination clinic set up inside the Derby Arena at Pride Park in Derby. AFP
  • A council worker clears up a disposable barbecue in Cannon Hill Park, Birmingham, after yesterday's warm weather and the easing of England's lockdown restrictions saw groups of people congregating in parks. Getty Images
    A council worker clears up a disposable barbecue in Cannon Hill Park, Birmingham, after yesterday's warm weather and the easing of England's lockdown restrictions saw groups of people congregating in parks. Getty Images
  • Bins overflow with rubbish in Battersea Park in south London after yesterday's record breaking warm weather. Getty Images
    Bins overflow with rubbish in Battersea Park in south London after yesterday's record breaking warm weather. Getty Images
  • A woman walks down a hill at Northala fields in London. AP Photo
    A woman walks down a hill at Northala fields in London. AP Photo
  • A health worker administers a dose of the BioNTech/Pfizervaccine at a vaccination clinic inside the Derby Arena. AFP
    A health worker administers a dose of the BioNTech/Pfizervaccine at a vaccination clinic inside the Derby Arena. AFP
  • People walk past a new mural of British veteran and fundraiser Captain Tom Moore by artist Akse P19 in Manchester. Reuters
    People walk past a new mural of British veteran and fundraiser Captain Tom Moore by artist Akse P19 in Manchester. Reuters
  • Members of the public sit outside Winchester Cathedral in Winchester. AFP
    Members of the public sit outside Winchester Cathedral in Winchester. AFP
  • People draw hearts on the National Covid Memorial Wall on the Embankment in central London. AP Photo
    People draw hearts on the National Covid Memorial Wall on the Embankment in central London. AP Photo

UK government denies reports it could delay Cop26


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  • Arabic

The UK government is denying reports that the UN climate summit due to be held in Glasgow in November could be delayed a second time by a surge in Covid-19 cases in some parts of the world.

British Prime Minister Boris Johnson recently said he wanted the Cop26 summit, originally planned for November 2020, to be held in person this year rather than online.

A decision to delay the conference again would be made together with the UN.

"We are not looking to postpone the summit," a government spokesman said.

"We are working on the basis of Cop26 being held in person this November, while closely monitoring the Covid situation.

"The summit team is working closely with all partners, and exploring what different scenarios might mean for Cop26 and how we plan for that, while putting the health of the participants and the local community first."

The comments came after Sky News reported that the summit could be postponed or radically altered, attributing the news to two unidentified government sources.

"There are too many uncertainties,' one said. "It will depend on what public health rules are brought in between now and then and what happens with vaccinations of delegates."

There had been suggestions that Cop26 would have to be held online because of the difficulties with planning and staging a large event during the pandemic.

Previous summits involved more than 20,000 people.

Last Wednesday, Mr Johnson said Cop26 was one of the single biggest priorities any government could have.

"The question now, really, is just to make sure that we can have a Cop that is physical," he said.

  • An image captured by Nasa's Terra satellite on May 2, 2000, shows the North Patagonia Ice Sheet in Chile. A single large glacier covered with crevasses is visible, while a semi-circular terminal moraine indicates that the glacier was once more extensive. Nasa
    An image captured by Nasa's Terra satellite on May 2, 2000, shows the North Patagonia Ice Sheet in Chile. A single large glacier covered with crevasses is visible, while a semi-circular terminal moraine indicates that the glacier was once more extensive. Nasa
  • A firefighter drags a hose closer to battle a grass fire in Knightsen, California.
    A firefighter drags a hose closer to battle a grass fire in Knightsen, California.
  • La Concepcion reservoir, which supplies 30 per cent of the Honduran capital of Tegucigalpa, during a severe drought caused by climate change. AFP
    La Concepcion reservoir, which supplies 30 per cent of the Honduran capital of Tegucigalpa, during a severe drought caused by climate change. AFP
  • A view of mountains that used to be covered by snow, during a warm winter day in Srinagar, the summer capital of Indian-administered Kashmir. Getty
    A view of mountains that used to be covered by snow, during a warm winter day in Srinagar, the summer capital of Indian-administered Kashmir. Getty
  • An image captured from Nasa's Terra spacecraft shows a vast crack across the Pine Island Glacier, a major ice stream that drains the West Antarctic Ice Sheet. Eventually, the crack will extend all the way across the glacier.
    An image captured from Nasa's Terra spacecraft shows a vast crack across the Pine Island Glacier, a major ice stream that drains the West Antarctic Ice Sheet. Eventually, the crack will extend all the way across the glacier.
  • In this Landsat 8 image, glacial retreat is revealed in the rugged wilderness region of Patagonia, site of the largest contiguous areas of ice cover outside Antarctica. USGS
    In this Landsat 8 image, glacial retreat is revealed in the rugged wilderness region of Patagonia, site of the largest contiguous areas of ice cover outside Antarctica. USGS
  • Destructive fires have raged in California and strong winds could spark new blazes. AFP
    Destructive fires have raged in California and strong winds could spark new blazes. AFP
  • A bird flies next to an ox walking on a smouldering field after a fire burnt a tract of the Amazon rainforest as it was cleared by farmers in Brazil. Reuters
    A bird flies next to an ox walking on a smouldering field after a fire burnt a tract of the Amazon rainforest as it was cleared by farmers in Brazil. Reuters
  • US actress Jane Fonda, centre, participates in a climate change protest before being arrested by US Capitol Police in Washington. EPA
    US actress Jane Fonda, centre, participates in a climate change protest before being arrested by US Capitol Police in Washington. EPA
  • Protesters gather outside the White House in Washington to protest against Donald Trump's decision to withdraw the US from the Paris climate change accord. AP
    Protesters gather outside the White House in Washington to protest against Donald Trump's decision to withdraw the US from the Paris climate change accord. AP

"I really think it would be a wonderful thing if, by November, the UK can lead the world in all sorts of things, but actually have a summit that is a big global summit where everybody turns up. And everybody turns up without fear."

The news came on the same day that the UK co-hosted an online, high-level event dedicated to Cop26 and paving the way to a greener future.

The specs: 2018 Harley-Davidson Fat Boy

Price, base / as tested Dh97,600
Engine 1,745cc Milwaukee-Eight v-twin engine
Transmission Six-speed gearbox
Power 78hp @ 5,250rpm
Torque 145Nm @ 3,000rpm
Fuel economy, combined 5.0L / 100km (estimate)

While you're here
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Fifa Club World Cup:

When: December 6-16
Where: Games to take place at Zayed Sports City in Abu Dhabi and Hazza bin Zayed Stadium in Al Ain
Defending champions: Real Madrid

Indoor cricket World Cup:
Insportz, Dubai, September 16-23

UAE fixtures:
Men

Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final

Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

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The years Ramadan fell in May

1987

1954

1921

1888

The years Ramadan fell in May

1987

1954

1921

1888

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

Company Profile

Company name: NutriCal

Started: 2019

Founder: Soniya Ashar

Based: Dubai

Industry: Food Technology

Initial investment: Self-funded undisclosed amount

Future plan: Looking to raise fresh capital and expand in Saudi Arabia

Total Clients: Over 50

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.”

Iraq negotiating over Iran sanctions impact
  • US sanctions on Iran’s energy industry and exports took effect on Monday, November 5.
  • Washington issued formal waivers to eight buyers of Iranian oil, allowing them to continue limited imports. Iraq did not receive a waiver.
  • Iraq’s government is cooperating with the US to contain Iranian influence in the country, and increased Iraqi oil production is helping to make up for Iranian crude that sanctions are blocking from markets, US officials say.
  • Iraq, the second-biggest producer in the Organization of Petroleum Exporting Countries, pumped last month at a record 4.78 million barrels a day, former Oil Minister Jabbar Al-Luaibi said on Oct. 20. Iraq exported 3.83 million barrels a day last month, according to tanker tracking and data from port agents.
  • Iraq has been working to restore production at its northern Kirkuk oil field. Kirkuk could add 200,000 barrels a day of oil to Iraq’s total output, Hook said.
  • The country stopped trucking Kirkuk oil to Iran about three weeks ago, in line with U.S. sanctions, according to four people with knowledge of the matter who asked not to be identified because they aren’t allowed to speak to media.
  • Oil exports from Iran, OPEC’s third-largest supplier, have slumped since President Donald Trump announced in May that he’d reimpose sanctions. Iran shipped about 1.76 million barrels a day in October out of 3.42 million in total production, data compiled by Bloomberg show.
  • Benchmark Brent crude fell 47 cents to $72.70 a barrel in London trading at 7:26 a.m. local time. U.S. West Texas Intermediate was 25 cents lower at $62.85 a barrel in New York. WTI held near the lowest level in seven months as concerns of a tightening market eased after the U.S. granted its waivers to buyers of Iranian crude.
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Yahya Al Ghassani's bio

Date of birth: April 18, 1998

Playing position: Winger

Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda