People look at a map while arriving for the COP27 U. N. Climate Summit, Sunday, Nov. 6, 2022, in Sharm el-Sheikh, Egypt. (AP Photo / Peter Dejong)
People look at a map while arriving for the COP27 U. N. Climate Summit, Sunday, Nov. 6, 2022, in Sharm el-Sheikh, Egypt. (AP Photo / Peter Dejong)
People look at a map while arriving for the COP27 U. N. Climate Summit, Sunday, Nov. 6, 2022, in Sharm el-Sheikh, Egypt. (AP Photo / Peter Dejong)
People look at a map while arriving for the COP27 U. N. Climate Summit, Sunday, Nov. 6, 2022, in Sharm el-Sheikh, Egypt. (AP Photo / Peter Dejong)

Tight security and last-minute hustle as Cop27 opens in Sharm El Sheikh


Hamza Hendawi
  • English
  • Arabic

Egypt's Red Sea resort of Sharm El Sheikh prepared to receive global leaders for nearly two weeks of talks on curbing climate change with a flurry of last-minute activity before the formal opening of Cop27 on Sunday.

Long known for its pristine sea waters and golden beaches, as well as coral reefs at risk from global warming, many parts of the city are almost unrecognisable after four months of sprucing up at a cost of billions of pounds.

New five-lane motorways now connect hotels where the delegates will stay to the conference venue, the International Convention Centre. The roads have been built without speed breakers to allow the motorcades of presidents, prime ministries and other top-level officials to dart from their hotels to the conference venue and back without hindrance.

With about 200 heads of state and government representatives among the 45,000 participants, security is tight throughout the city, particularly at the venue.

A sign at the venue of the climate summit in the Egyptian resort of Sharm El Sheikh. Getty
A sign at the venue of the climate summit in the Egyptian resort of Sharm El Sheikh. Getty

The police presence at hotels is heavier than usual, while armed officers in combat fatigues are posted along roads to the venue and plainclothes policemen, conspicuous in suits and ties, keep watch on roads near the conference centre. People entering the venue must go through airport-level security checks.

Egyptians coming into Sharm El Sheikh by road have been subjected to intense searches and identity checks in recent weeks, with police in some cases demanding documents to explain their reason for visiting. Passengers arriving at the city's airport on domestic flights are requested to scan their passports if they are participating in the conference.

The main entrance of the International Convention Centre in Egypt's Red Sea resort of Sharm El Sheikh where the UN climate summit is being held. AFP
The main entrance of the International Convention Centre in Egypt's Red Sea resort of Sharm El Sheikh where the UN climate summit is being held. AFP

The roads to the venue are adorned with billboards bearing climate-related phrases such as “Return nature to its nature” and “From ambition to work”, but no billboards featuring President Abdel Fattah El Sisi, which can be seen on most main roads in the capital Cairo and other major cities in the country of 104 million.

As is usually the case with conferences of this size, last-minute work continued at the venue until just hours before the official opening on Sunday.

Technicians were connecting communication cables, porters were ferrying new chairs and desks still wrapped in nylon into conference rooms, and the rattling of trolleys laden with office equipment being pushed by workers in blue overalls filled the air in the venue’s hallways.

The opening day of Cop27 in Sharm El Sheikh — in pictures

  • British Prime Minister Rishi Sunak arriving in Sharm El Sheikh, Egypt, to attend the Cop27 summit. Getty Images
    British Prime Minister Rishi Sunak arriving in Sharm El Sheikh, Egypt, to attend the Cop27 summit. Getty Images
  • A dancer performs the 'Tanoura' during a street performance in Sharm El Sheikh. EPA
    A dancer performs the 'Tanoura' during a street performance in Sharm El Sheikh. EPA
  • Cop27 President Sameh Shoukry speaks at the climate change conference in Sharm El Sheikh on Sunday. EPA
    Cop27 President Sameh Shoukry speaks at the climate change conference in Sharm El Sheikh on Sunday. EPA
  • Participants and delegates meet in the Pacific Island pavilion at the Sharm El Sheikh International Convention Centre, on the first day of Cop27. AFP
    Participants and delegates meet in the Pacific Island pavilion at the Sharm El Sheikh International Convention Centre, on the first day of Cop27. AFP
  • Participants meet at the Sharm El Sheikh International Convention Centre on the first day of Cop27. AFP
    Participants meet at the Sharm El Sheikh International Convention Centre on the first day of Cop27. AFP
  • Simon Stiell, the executive secretary of the UN's Framework Convention on Climate Change speaks at the climate summit in Sharm El Sheikh. EPA
    Simon Stiell, the executive secretary of the UN's Framework Convention on Climate Change speaks at the climate summit in Sharm El Sheikh. EPA
  • Chairman of the Intergovernmental Panel on Climate Change Hoesung Lee attends the Cop27 opening ceremony. AFP
    Chairman of the Intergovernmental Panel on Climate Change Hoesung Lee attends the Cop27 opening ceremony. AFP
  • From left to right, the UN's climate change communications officer, Alexander Saier; Simon Stiell, the executive secretary of the UN's Framework Convention on Climate Change; and Cop27 President Sameh Shoukry listen to questions following the opening ceremony. AFP
    From left to right, the UN's climate change communications officer, Alexander Saier; Simon Stiell, the executive secretary of the UN's Framework Convention on Climate Change; and Cop27 President Sameh Shoukry listen to questions following the opening ceremony. AFP
  • Alok Sharma, president of the Cop26 climate summit, speaks at Cop27 in Sharm El Sheikh, Egypt. AP
    Alok Sharma, president of the Cop26 climate summit, speaks at Cop27 in Sharm El Sheikh, Egypt. AP
  • Delegates arrive at Cop27 in Sharm El Sheikh, Egypt. Mahmoud Nasr / The National
    Delegates arrive at Cop27 in Sharm El Sheikh, Egypt. Mahmoud Nasr / The National
  • Delegates arrive at Cop27 in Sharm El Sheikh, Egypt. Mahmoud Nasr / The National
    Delegates arrive at Cop27 in Sharm El Sheikh, Egypt. Mahmoud Nasr / The National
  • Delegates arrive at Cop27 in Sharm El Sheikh, Egypt. Mahmoud Nasr / The National
    Delegates arrive at Cop27 in Sharm El Sheikh, Egypt. Mahmoud Nasr / The National
  • Activists demonstrate at the entrance of the Sharm El Sheikh International Convention Centre. Reuters
    Activists demonstrate at the entrance of the Sharm El Sheikh International Convention Centre. Reuters
  • Delegates arrive at the Sharm El Sheikh International Convention Centre for Cop27. AFP
    Delegates arrive at the Sharm El Sheikh International Convention Centre for Cop27. AFP
  • More than 120 world leaders plan to attend the crucial event in Sharm El Sheikh. Reuters
    More than 120 world leaders plan to attend the crucial event in Sharm El Sheikh. Reuters
  • The summit comes at a critical moment with the world regularly experiencing extreme weather events that many – including the UN – have linked to climate change. Reuters
    The summit comes at a critical moment with the world regularly experiencing extreme weather events that many – including the UN – have linked to climate change. Reuters
  • Two key areas on the agenda are trying to keep the Paris goal of 1.5ºC warming on pre-industrial levels alive and the issue of finance. AP
    Two key areas on the agenda are trying to keep the Paris goal of 1.5ºC warming on pre-industrial levels alive and the issue of finance. AP
  • The summit begins in earnest on Monday when world leaders arrive at the summit for two days of intense talks. They will also deliver addresses to the event. Reuters
    The summit begins in earnest on Monday when world leaders arrive at the summit for two days of intense talks. They will also deliver addresses to the event. Reuters
  • A delegate from the Cook Islands. AP
    A delegate from the Cook Islands. AP
  • The main entrance of the Sharm El Sheikh International Convention Centre in Egypt where the Cop27 climate summit is opening today. Reuters
    The main entrance of the Sharm El Sheikh International Convention Centre in Egypt where the Cop27 climate summit is opening today. Reuters
  • Participants visit the Sharm El Sheikh International Convention Centre. AFP
    Participants visit the Sharm El Sheikh International Convention Centre. AFP
  • Participants at the Sharm El Sheikh International Convention Centre. Reuters
    Participants at the Sharm El Sheikh International Convention Centre. Reuters
  • The climate summit will run from Sunday to Friday, November 18 at the Red Sea resort of Sharm El Sheikh. AFP
    The climate summit will run from Sunday to Friday, November 18 at the Red Sea resort of Sharm El Sheikh. AFP
  • Participants at the Sharm El Sheikh International Convention Centre before Cop27 opens. AFP
    Participants at the Sharm El Sheikh International Convention Centre before Cop27 opens. AFP
  • Finance and compensation are expected to dominate two weeks of tough talks in Sharm El Sheikh. Reuters
    Finance and compensation are expected to dominate two weeks of tough talks in Sharm El Sheikh. Reuters
  • It is also expected Cop27 will hear calls for the historically controversial issue of 'loss and damage' funds to be placed on the agenda for the first time. AFP
    It is also expected Cop27 will hear calls for the historically controversial issue of 'loss and damage' funds to be placed on the agenda for the first time. AFP
  • Pledges on forests and methane made at last year’s Cop26 that are signed by more countries would be welcome. Reuters
    Pledges on forests and methane made at last year’s Cop26 that are signed by more countries would be welcome. Reuters
  • An illumination of Khafre Pyramid, one of the three ancient pyramids of Giza. AFP
    An illumination of Khafre Pyramid, one of the three ancient pyramids of Giza. AFP
Our legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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.

RESULT

Deportivo La Coruna 2 Barcelona 4
Deportivo:
Perez (39'), Colak (63')
Barcelona: Coutinho (6'), Messi (37', 81', 84')

Countries recognising Palestine

France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra

 

%20Ramez%20Gab%20Min%20El%20Akher
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStreaming%20on%3A%20%3C%2Fstrong%3EMBC%20Shahid%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A

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.”

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

The specs

Engine: 2.0-litre 4-cyl

Power: 153hp at 6,000rpm

Torque: 200Nm at 4,000rpm

Transmission: 6-speed auto

Price: Dh99,000

On sale: now

Apple%20Mac%20through%20the%20years
%3Cp%3E1984%20-%20Apple%20unveiled%20the%20Macintosh%20on%20January%2024%3Cbr%3E1985%20-%20Steve%20Jobs%20departed%20from%20Apple%20and%20established%20NeXT%3Cbr%3E1986%20-%20Apple%20introduced%20the%20Macintosh%20Plus%2C%20featuring%20enhanced%20memory%3Cbr%3E1987%20-%20Apple%20launched%20the%20Macintosh%20II%2C%20equipped%20with%20colour%20capabilities%3Cbr%3E1989%20-%20The%20widely%20acclaimed%20Macintosh%20SE%2F30%20made%20its%20debut%3Cbr%3E1994%20-%20Apple%20presented%20the%20Power%20Macintosh%3Cbr%3E1996%20-%20The%20Macintosh%20System%20Software%20OS%20underwent%20a%20rebranding%20as%20Mac%20OS%3Cbr%3E2001%20-%20Apple%20introduced%20Mac%20OS%20X%2C%20marrying%20Unix%20stability%20with%20a%20user-friendly%20interface%3Cbr%3E2006%20-%20Apple%20adopted%20Intel%20processors%20in%20MacBook%20Pro%20laptops%3Cbr%3E2008%20-%20Apple%20introduced%20the%20MacBook%20Air%2C%20a%20lightweight%20laptop%3Cbr%3E2012%20-%20Apple%20launched%20the%20MacBook%20Pro%20with%20a%20retina%20display%3Cbr%3E2016%20-%20The%20Mac%20operating%20system%20underwent%20rebranding%20as%20macOS%3Cbr%3E2020%20-%20Apple%20introduced%20the%20M1%20chip%20for%20Macs%2C%20combining%20high%20performance%20and%20energy%20efficiency%3Cbr%3E2022%20-%20The%20M2%20chip%20was%20announced%3Cbr%3E2023%20-The%20M3%20line-up%20of%20chip%20was%20announced%20to%20improve%20performance%20and%20add%20new%20capabilities%20for%20Mac.%3C%2Fp%3E%0A
Poland Statement
All people fleeing from Ukraine before the armed conflict are allowed to enter Poland. Our country shelters every person whose life is in danger - regardless of their nationality.

The dominant group of refugees in Poland are citizens of Ukraine, but among the people checked by the Border Guard are also citizens of the USA, Nigeria, India, Georgia and other countries.

All persons admitted to Poland are verified by the Border Guard. In relation to those who are in doubt, e.g. do not have documents, Border Guard officers apply appropriate checking procedures.

No person who has received refuge in Poland will be sent back to a country torn by war.

UAE and Russia in numbers

UAE-Russia ties stretch back 48 years

Trade between the UAE and Russia reached Dh12.5 bn in 2018

More than 3,000 Russian companies are registered in the UAE

Around 40,000 Russians live in the UAE

The number of Russian tourists travelling to the UAE will increase to 12 percent to reach 1.6 million in 2023

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

How to help

Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200

Updated: November 06, 2022, 11:27 AM