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Pakistan Celebrates National Day in UAE with Diplomatic Reception

  The Embassy of Pakistan in the United Arab Emirates (UAE) hosted a grand reception today to commemorate Pakistan's National Day, attended by members of the diplomatic corps, senior UAE government officials, Emirati nationals, and the Pakistani community. His Excellency Sheikh Nahayan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, graced the occasion as the Chief Guest, alongside Minister of State for Foreign Affairs, His Excellency Ahmed bin Ali Al Sayegh. The event featured traditional performances, including the national anthems of Pakistan and the UAE played on traditional instruments. The Pakistani flag was prominently displayed on the hotel building, visible across Abu Dhabi, symbolizing the strong ties between the two nations . In his address, Ambassador Faisal Niaz Tirmizi reflected on the significance of the Pakistan Resolution and the challenges faced by the nascent state in its journey toward socio-economic development. He highlighted various opportuni...
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Abu Dhabi: The Richest City in Sovereign Wealth Management


Abu Dhabi has cemented its position as the wealthiest city in the world in terms of capital managed by sovereign wealth funds, according to the latest report by Global SWF. As of October 1, 2024, sovereign wealth funds worldwide managed assets valued at approximately $12.5 trillion. Abu Dhabi’s wealth, driven by its vast oil reserves and strategic investment policies, has placed it at the forefront of global finance.


Sovereign wealth funds (SWFs) are state-owned investment entities that manage national savings for long-term investment, often derived from surplus revenues like those from oil and gas. These funds invest in a wide range of assets, including stocks, bonds, real estate, and infrastructure, playing a critical role in both national and global economies. The Global SWF report highlights that the top six cities, including Abu Dhabi, account for two-thirds of the total sovereign wealth under management globally.


Abu Dhabi’s SWFs, led by institutions such as the Abu Dhabi Investment Authority (ADIA), have been key in diversifying the emirate’s economy beyond oil. Strategic investments in sectors like technology, infrastructure, and real estate have made the city a major global financial player.


Other cities with significant sovereign wealth fund management include Singapore, Oslo, and Doha, but Abu Dhabi’s position at the top underscores the emirate’s robust economic strategies and resource wealth. The growing prominence of SWFs reflects their increasing role in shaping global investment trends and contributing to economic stability.


With this powerful financial engine, Abu Dhabi is set to continue leading the way in sovereign wealth management, solidifying its status as a hub for global investments.



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