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The Globalist
Live from Abu Dhabi: US begins Hormuz blockade and how to revive tourism to the Gulf
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- [00:04]
A
Craft matters in small ways, like how a coffee is brewed, and in not so small ways, like how your money is cared for. Which is why for 160 years, UBS has elevated banking to a craft, tailoring unique strategies that combine human expertise with the latest technologies, all happening across 24 time zones and 12 key financial hubs. With you at the heart of it all, UBS advice is our craft. You're listening to the Globalist, first broadcast on the 14th of April, 2026 on Monocle Radio. The Globalist in association with U.
- [01:09]
B
Good morning from Dubai. This is THE Globalist. I'm Tyler Brule. Coming up on today's program, the Strait of Hormuz blockaded by the United States since 10:00am Eastern Time yesterday. Monocle's golf correspondent Inzam Rashid is here with us this morning. Insi very good to see you. Maybe just bring us up to date. What has happened really over the last 12 hours plus since this blockade started?
- [01:30]
C
Well, it's blockade cubed because you had an original blockade on the Strait of Hormuz, then you had the US Blockade which came in last night, and now you've got Iran retaliating with their own blockade. So I think this conflict, which is a wider regional conflict, is now essentially the battle of the Strait of Hormuz. And I think all eyes are on that very strategic waterway.
- [01:50]
D
We're also going to hear from Steve Cox, who's the executive director of marketing and communications for the Department of Culture and Tourism here in Abu Dhabi. We'll get the papers from London with Nina dos Santos and Juliet Lindley will give us an update on Pope Leo's foreign trip and his sparring relationship with Donald Trump. And finally, we'll speak with a curator here about plans for a Guggenheim outpost and a window into the arts and culture in the Gulf.
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B
It's even more than an outpost. It is quite extraordinary looking at that new Guggenheim as it comes up. That's all ahead of the Globalist, live from Abu Dhabi. And good morning from Abu Dhabi for this very special edition of the Globalist, day two of our tour across the uae. I'm very happy to say Andrew Tuck is here this morning as well. Andrew, this is we're in a setting where we were just pre Christmas. You were here, not very far away, actually hosting a number of our very loyal readers for a weekender here at Earth, right in the heart of what do you say is the old downtown of Abu Dhabi.
- [02:59]
D
It's amazing. It's a low slung, angular building that makes great use of concrete and Inside, there's these little pockets of gardens, but it's a restaurant that promotes the very best of Emirati cuisine and has reimagined it as in its highest order. So it's a really beautiful backdrop for the discussions we're going to have about culture and being in this part of the world.
- [03:25]
B
Rashid is here, our Gulf correspondent. Insie, good morning. Very good to see you. You gave us a little bit of a clip at the top of the program about everything that is unfolding on the seas not very far from here. Maybe just capture the mood for us as well, because there is obviously much anticipation, much analysis across a Monday morning yesterday about, of course, failed peace talks in Pakistan and also something of a hopeful reset as well happening.
- [03:53]
C
Yeah. And we heard yesterday from the Minister of State for the Ministry of Foreign Affairs, Noor El Kabi, her Excellency, and she very clearly said that the Strait of Hormuz issue is pretty much the UAE's priority right now. And I think it's a priority for a lot of the Gulf states as well, because right now you've got a waterway where 20% of the world's oil usually passes through. And essentially this conflict, which we've seen spread across this region and in fact, many other countries, even for further afield, is now essentially all focused on this strategic waterway. It is this waterway where there are no oil tankers getting through, or very few. The ones that are getting through are Iranian oil tankers. They've in fact, doubled their exports over the last six weeks. They're making a lot of money out of getting their oil to the likes of China. And right now there is essentially blockade on blockade on blockade. Because, yes, you've got the Straits of Hormuz, which is selectively being blocked by Iran. And they then you've got the US Last night saying, well, we're going to block Iranian vessels leaving the ports along the Iranian coastline near to the Straits of Hormuz, any coming in and out. And then also last night you had Iran saying, okay, well, if you're going to do that, the US Then we're going to expand that and we're going to block ports across the gcc. I actually live just in front of Jebel Ali Port, which is one of the largest ports in the Middle East, a huge logistical hub. And across the UAE and the wider Gulf, if they manage to block ships coming in and out of that, well, it would just be a nightmare, not only logistically but economically for the UAE as well. So we're in this time at the minute where all eyes are on the Strait of Hormuz. And if these blockades actually do go ahead, then we know the economic impact would be detrimental.
- [05:42]
B
Insy. Thanks for that. We'll be, of course, dipping in and out of this story. And of course, we are here across the week, Andrew, because also we head down the highway today, off to, off to Dubai. Then you're going to sort of pick up this caravan, head off to Sharjah and then you're, then you're back in Dubai.
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D
Yes, we're on the road. We'll be the house of wisdom in Sharjah later in the week and we'll be back in Dubai, as you say, on Friday. So it's going to be fascinating to hear from these three different emirates about their perspective on what's happening here in the region and what a reset looks like after this is over.
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B
It's just coming up to 10:06 here in Abu Dhabi. You're listening to a very special edition of the global sets means it's 7 open 5 or almost 7:06. Back in London, Georgina Godwin is there with the news headlines.
- [06:27]
A
Thank you, Tyler. So, as we've been hearing, the United States has begun enforcing a blockade of Iranian ports, escalating tensions in the Gulf while keeping diplomatic channels open. After talks stalled over the weekend. Oil markets steadied slightly with prices dipping below $100. But the Strait of Hormuz remains volatile as Iran threatens retaliation and global shipping faces fresh uncertainty. The Canadian Prime Minister, Mark Carney has won a parliamentary majority, giving his Liberal government the numbers to pass legislation without relying on opposition support. The result consolidates his position until 2029 and bolsters his ability to respond to economic tensions triggered by Donald Trump's trade policies. And the leaders of China and Spain. Xi Jinping and Pedro Sanchez met in Beijing today, pledging closer cooperation and positioning their partnership as a stabilizing for in an increasingly fractured world. The meeting comes during Sanchez's fourth visit to China in as many years as Madrid seeks investment, trade access and a stronger diplomatic role, while urging Beijing to play a bigger part in resolving conflicts from Iran to Ukraine. Back to you, Tyler.
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B
Georgina, all good in London this morning?
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A
Absolutely. And it's sort of finally spring, so we're all feeling a little bit happier. We've got a dog in the studio, lovely whippet called Frank, and it's all quite jolly here. We're actually loving having you doing most of the load lifting.
- [08:01]
B
You're going to. You're liking me, Andrew. Sort of, you know, being away From Bass. So you can have as many whippets in the studio as you want, I guess. And well, listen, you know, I'm not sort of dipping in and out that often. Georgia. We are going to dip back to you, though in about 23 or 24 minutes time with the news headlines. You're listening to the Globalist. We are live in Abu Dhabi this morning, very happy to say Andrew Tuck is beside me. Right beside Andrew Tuck, we have Steve Cox as well. He's the director of Strategic Marketing Comms at the Department of Culture and Tourism here in Abu Dhabi. Good morning, Tyler.
- [08:32]
E
Andrew, great to be here. Good morning to you both and thank you so much for being here in Abu Dhabi.
- [08:36]
B
Well, thanks for having us as well. Maybe we were talking to your chairman yesterday. We've had a number of really interesting discussions about this period that we're in. But maybe just let's rewind the last sort of six weeks for you in this, in this role, the mood, what has been happening. But of course we want to spend more time looking ahead. Steve.
- [08:57]
E
Yeah, yeah, look, the last six weeks have been really, to be honest, they've been obviously, you know, it's a period of great disruption, but it's been very inspiring to see how the community, how the government has come together, how what really makes Abu Dhabi so special is showing up. And it's the strategic decisions made from many years ago, that position at so strongly to not only get through the moment that we're in, but to recover stronger and to build back better. And really this is a moment of pause, a strategic pause for us where we can reset. And I just think the future is incredibly bright and it's been a real privilege to be a part of what I now call home here in Abu Dhabi and to see the response of everybody, the government, the locals, the residents and people such as yourselves who've continued to visit throughout. And that's greatly appreciated.
- [09:53]
D
Steve. Before we dive into some of the challenges you're currently facing, let's just paint for people a bit of a picture of what's been going on up until this outbreak of the conflict here. Because I think maybe people who don't know the UAE imagine it's all one amorphous place. But here in Abu Dhabi, you've been building a very particular kind of world of culture, of high end tourism. We came here at the end of last year when, just when the Natural History Museum was opening. Yesterday we were in the Zayed National Museum, this extraordinary grouping of cultural institutions now in Saadia. Just tell people what is the pitch normally for coming to Abu Dhabi?
- [10:38]
E
Well, look, you know, first and foremost. Well, there's a couple of things that spring to mind. Firstly, you know, it is absolutely anchored in the warm Emirati welcome, this true welcome that is unique to Abu Dhabi as a place and a destination. And culture is at the heart of everything. And you spoke briefly to some of the incredible achievements of the past year and leading into this period of time. We just released our annual report. Visitation and hotel revenues up by 20%. The meetings and conferences, industry up by 20%. Oh, sorry, 40% in attendance through this period of time. Cultural visitation numbers, record levels never seen before. So the investment, these long term mindsets to create something like the Sadia Cultural District, which is one of the world's, if not the world's greatest cultural collection. You've got the Louvre there, of course, which has been open for a number of years, but being complemented with the Natural History Museum, the National Museum, Zayd National Museum, where you were yesterday. What an incredible place. Of course, Team Labs phenomenon, which is just about one year anniversary and incredible Guggenheim just around the corner. I did the run along there.
- [11:50]
B
The other Steve's famous run.
- [11:52]
E
Yes, the run along there is one of the greatest runs globally. As you run across it's so it's something to behold. So you know the, the platform and the reason for being and the value proposition is incredibly strong and that remains. And that's something we'll build on and
- [12:07]
B
talk about that value proposition because of course you can focus on sport, you can focus on a commitment to, to concerts, bringing in extraordinary global names as well. Where do you see yourself leading though, as we ramp up out of this? Is it a cultural lead or is it across three, five, six different cylinders? Where's the starting point for you?
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E
Look, I think it's absolutely rooted in culture and what makes this such a unique destination. And when people visit places, they want to visit somewhere where it's unique and it can be felt. And when you are here and you guys have experienced it, you can absolutely feel that cultural connection from the founding father and the values that that were established, that are lived and breathed in every part of society today and really have set up what makes Abu Dhabi so unique now. So I would say it's absolutely rooted in culture. But of course an incredible family destination, Yas Island. You've got the theme parks, you've got the beaches. The water at Saadiat, as you guys have experienced, is incredible. So there's an amazing family offering here as well. The Cultural District Incredible. The history. We're here now at Kasar Hassan, the sort of the founding place of Abu Dhabi itself, where the fort is, where you can see and feel that connection right back to Sheikh Zayed himself. And that is being passed through generation after generation. You can feel it. It's lived and breathed. And to me, that's what really makes Abu Dhabi so unique.
- [13:34]
D
Let's talk about some of the practicalities of now. If I'm a hospitality player in the region, there is some pain at the moment. Undoubtedly the. The number of stays in hotel rooms are down and some of the flights are down. Is it incumbent upon you as an organization to support especially the more independent people in that world? Are you talking to the bigger players about how they get through this moment as well?
- [13:57]
E
Oh, of course. You know, the support is absolutely there and the ongoing communication with the players, be it the hoteliers, the restaurateurs, anyone, the experiences we are having, weekly calls with all of the major providers, with the marketing teams, be it morale, be it Etihad Airlines, you know, right across the. The ecosystem. The same thing's happening with the hotels and all the operators there. I think one of the greatest sort of demonstrations of that Emirati way that Abu Dhabi has was right at the very beginning when we had people stranded here in hotels. And without hesitation, without a second thought, it was a directive out. Anyone who's staying here will look after them. We cover their hotel costs until their flights can resume. And that you don't see that, you know, I've certainly, from where I've come from, you wouldn't have seen it in Sydney, but you do see it in Abu Dhabi. And it's a great example of the way that it's such a unique culture here, a unique sense of community.
- [14:56]
B
I want to talk about not just Australia, but maybe other markets in a moment. And maybe we can sort of think about maybe almost that sort of desire, the intent to return. I'm sort of keen to know who. Who's going to come back, who you think is going to sort of, you know, lead that. But in the moment when you look, okay, we've got Guggenheim coming up. Quite a strong cultural season at the end of the year. I guess you've got the first freeze coming up. You're going to have Nomad as, as well. So a lot of focus on Saudi, but we look sort of elsewhere. If you had to sort of pick out, if they sort of put you on the front line, I don't. I don't see you in trade fair booths, but if they said, okay, Steve, you've got to sort of show up at a trade fair booth, what would be your top three sells that you say, okay, gang, if you're bringing family partner, what appeals to you personally also having been here for a while?
- [15:44]
E
Yeah, Look, I mean, Q4 is going to be enormous. And you've already touched on a few of those. A culture season that we'll have through that period of time with Freeze Nomad, the culture summit, opening of the Guggenheim, of course, unlike anywhere else in the world. And something that would really set us apart. That would certainly be on my list. Of course, you've got the F1, the final race of the season. Something that is embedded in the culture here. It's a great reason for visiting and something that brings so many people through. Just before that, you have finance week. So Q4 is going to be huge. But for me, if you're going to visit Abu Dhabi, the things that really resonate is Kasa Al Hassan, just behind us, the fort where Abu Dhabi was really first established, that you go there, you visit, you get that sense. You see the majilis where the city was sort of first considered and brought to life. That's something that's really, really special. The beaches here on Saadiat island, it's a weekend retreat for me. Get across over there, go to the beach, enjoy Mum Shah, where you've got restaurants, this great energy, this great vibe. So there is really so much to do. But not only in Abu Dhabi, it's really. Well, you've got Al Dharfra, another incredible region. El Ain with the oasis, you know, and the original irrigation systems that go back so many thousands of years. There is incredible depth to Abu Dhabi right across and right across. So there's a lot to enjoy. And right now there's a real focus on that domestic market. I guess. Going back to your last question, we're really strongly driving dinner on the. On the domestic market, we've got Museum Pass offer where you can see three of the museums at a. At a price point, two museums at a price point, making it really easy. And that's one of the things that sets Abu Dhabi apart from other destinations using this time. But also embedded is the visitor experience is first and foremost at all times, just like it is for residents. The resident experience is the first thing that leadership here considers. It's not but building a new building for the sake of it. This is about how the reasoning why is all about the people that live here. It's all about the future. It's giving people Opportunity. Opportunity to become a curator, to get into archaeology, whatever it might be. These districts are not just about visitors. In fact they're first and foremost about residents and about the people that live here and about the future of Abu Dhabi.
- [18:04]
D
I was going to ask you. Many of the things you're describing remind me of the challenges that people face. Perhaps during COVID you see a stopping of travel for a brief time and the need to rebuild and get back on track. And also you point out the beginning, the need to think about the long term. So on that long term element for investors and growing capacity. Because when you talk about the numbers of people coming here, I presume there's some mornings where you wake up, you think oh gosh, if it continues like this, will we have enough hotel rooms, enough partners here? What's the pitch to investors? What does Abu Dhabi still need? Is it more capacity to look after people in the coming years or is it more on the entertainment side? Because you have these amazing great play for families to come here as well. What are you hoping that will land on your doorstep in the coming years?
- [18:56]
E
Well look, I'm incredibly blessed to have so many things landing on our door because you know we've got Sphere opening in the not too distant future. We've got more announcements coming up very, very soon. Disneyland of course is coming here as well. I mean the fam Harry Potter World's been been announced already that the family offering is really second to none when you consider those pieces. The cultural offering is unparalleled when you, when you put all of them together plus things that are coming up in the near future. So you know, when I look ahead, certainly hotel occupancy or hotel rooms, you know, more rooms to, to deal with the demand which absolutely I've got no doubt is going to come back very, very strongly over this period. They would be things. But I think again what sets here apart and what people should keep in mind is that the approach to place and systems is very, very intentional so people and investors can have confidence. The reason why Abu Dhabi is managing so well through this period of time that we're in is because of decisions that have been made so many years ago. Be it the past for Fujairah to be able to export oil, you know, those long term strategic decisions, the pivot to other to grow other parts of the economy. So the, the fact that where I live ADGM is a common law to give everyone confidence around the ability that contracts are going to be honoured and all those things are in place. So the Intentionality of thought that has occurred here in the decades before today and the decades into the future should give investors and visitors and all people who would think about Abidi great confidence that it is safe, it is secure. I mean, I've felt incredibly safe through, I've been here for the entire, entire time, throughout the whole period. Incredibly well protected, incredibly safe, great communication. Something that really stands out. You know, I'm sure that, you know, people would not have suspect, expected as much focus as we received here in this region. But it has been dealt with so well because of that intentionality. So I think there are things always that we would love to continue to develop. We want it to be a family destination. We want it to be a place of vibrancy. We want this is a city of music and we want people to feel that. So there's so many things that we can continue to layer up to make it one of the world's greatest destinations. If people think about where they're going to come and visit. I want Abu Dhabi to be the first one that comes to mind as the place that people must go to. Not just a, oh, I could go there as a stopover. I must go there because this is one of the most unique destinations in the world.
- [21:34]
B
Steve, just before we go, I'm curious who's going to come back first? I mean, let's, let's be honest, hotels are of course on the quiet side at the moment. Is it Indian subcontinent? Is it Europe? Who do you see as really like? Yeah, the first adopters. The first ones are say, you know, we're heading straight back, Listen, I mean the airport is busy, people are, you know, are coming. That, that is absolutely clear. But where are you placing your bets?
- [21:58]
E
Look, one of the very interesting things about this period of time is if you think back to Covid, we were all sitting around going, how in the world do we use teams? How do I log into Zoom? You know, the digital technology that we have is so poor. Now we've got AI. This is the first AI crisis for a destination to manage through and it is giving us the information to answer your question. So we have got a live dashboard that tracks consumer sentiment, Google searches, flight levels, pre and post, post the sentiment, positive and negative media coverage, live dashboard that then that then gives us to us the list of markets, short term, long term focus and those that are going to, that we will focus on more. So in that tier one, there are some interesting markets that continue to show up. Egypt's always very, very strongly up there as a market. Where there's strong sentiment, strong intent, people are searching. Abu Dhabi is still absolutely, absolutely in their minds. But then of course in the major markets, India is always going to be important here. It's a large diaspora. It's going to come back strongly. Yesterday Etihad just announced must have been close to half a dozen new direct flights out of China, which I think will be an emerging powerhouse when it comes to visitation within this region. But other markets are always going to continue to play and other ones that are showing up, you know, Japan, Russia is always an important market here as well. So there's a number of markets that we're focusing on and we're back in market. We've, we've started to turn back on paid media but it's all about the messaging at the moment. At the moment it's all about Hashim Abu Dhabi. It's about showing the reality of life on the ground and we look forward to welcoming our guests back better than we ever have before.
- [23:38]
B
Steve Cox from dct, the Department of Culture and Tourism. Great seeing you. Thanks for having us. It's just gone at 1023 here in Abu Dhabi. Time for a short break. When we come back, Anina de Santos is here with the newspapers.
- [23:52]
A
Craft is a matter of perspective, a unique outlook, an obsessive attention to detail. With UBS's Chief Investment Office House View, we're focused on identifying the latest investment opportunities and market risks to help you achieve your financial goals. So you get the big picture broken down into thought provoking insights delivered daily and curated by over 200 globally connected, locally active analysts. UBS Banking is our craft.
- [24:29]
B
Welcome back to the Globalist with me, Tyler Belle. Also Andrew Tuck is here as well, I believe. Nina Desantis is back in studio one in London as well. Just Andrew on that. Just this, this enthusiasm as you were just saying as Steve was leaving the desk here, it is quite something but also, just also remarkable hearing that, you know, Etihad, of course there was a delegation from the UAE who, who are out in China still in China, heading back from China right now. Just this, this ambition because you, we were talking about in the drive on the way over, there's, there's something, many interesting conversations that didn't happen around a mic yesterday which are, are just quite remarkable.
- [25:10]
D
Well, there's two interesting things. One, as Steve was speaking, it always strikes me when you're in this part of the world where the connectivity is to, and you know, we're so used to being in Europe thinking everything is a transatlantic flight or Maybe you're going to Asia, but it's a long way away when you're here. All of these markets are so close, it's only a few hours to get to India. This is a local market for them. So the numbers of people coming from, from India is super important. But I thought it was also interesting yesterday we had conversations with, of people who are talking about when you work with senior Emiratis in government, especially a younger generation who trained abroad, have seen best in class wherever they've been, that they're working to capacity all the time, 12 hours a day, every day, that they don't see their jobs as jobs, they see their jobs as creating a country and doing well by their forefathers and their kids. So that ambition part and then it's interesting because you do meet lots of locals here and the people who stick and stay, they seem to buy into that kind of same vision piece. So it's fascinating.
- [26:10]
B
Let's go back to London right now. Nina Dos Santos, a regular contributor, also a former CNN Europe editor, is in studio one with the newspapers. Good morning, Nina.
- [26:23]
F
Good morning, Tyler. Yes, well, interesting to hear you talk so much about Abu Dhabi because Mr. Dos Santos was actually brought up there and you mentioned the fort with your guest. My mother in law in fact took part of, took care of some of the archives there, looking into the history of Abu Dhabi. And your regular listeners will also probably know that I've been learning Arabic recently. One of the things that I've been having a harder time with is mentioned in the Guardian and that is how young people send text messages to each other. Now, I don't know whether either of you two get befuddled by some of the emojis speak on WhatsApp and text messages, but it's some of the, let's say, acronyms that I find really, really hard to understand. And helpfully enough, the Guardian has a decoder and is pointing us towards a Decoder website on unscrambler.com for anybody who fears that they might be missing out, have a bit of FOMO because they can't understand what their teen messages are saying because I certainly have a hard time and my two youngsters don't yet have phones.
- [27:27]
D
Nina, can we ask one of these, can we ask you whether are any of these, we have a few examples here and I'm a bit nervous about asking you what they stand for in case it's incredibly rude. But should we have a go? What does pmo, for example, stand for? Sybau. Do you know the, the intent of these.
- [27:45]
F
Well, I do know sybau sounds, something apparently among the younger generation a little bit ruder, does include a word that starts with a B that I probably wouldn't pronounce on radio.
- [27:55]
D
And I'm taking it. I'm taking. It's not bottom.
- [27:57]
F
It's not bottom, no, but. But apparently it has been redone by this person inside the Guardian and they've rather optimistically said that they think it means stay young, beautiful and also unique. So I'll take that one as a win. W I L L means apparently what you look like. And FOMO by this particular writer has been rebaptised. Not fear of missing out, but feral outward burst mode, which is probably, I suppose, the kind of condition that many teenagers, parents get when they try and decode some of their teenage text messages, or indeed try and understand not just what their teenage children are saying to each other, but what they're trying to say to their parents when they say what time you're going to be back for. For dinner.
- [28:41]
B
Yeah, I only know PMO is a Prime Minister's office that's in my arm. Let's go to the French papers and of course, what's happening there?
- [28:53]
F
Yeah, well, Le Monde has done its 13th annual sort of big survey that it calls the French Fractures, and it looks into the fracturing of the political landscape that we've seen over the last decade, decade and a half. And obviously the big signature political movement over that time has been Emmanuel Macron's centrist movement that has splintered France into so many different directions. Well, we're about one year off of the next presidential election, where it looks like the far right is probably going to capture about 38, 40 of the votes, at least on the first round. Hey, it could even be a split between far right and far left at this point in the second round, many French observers say. And what's quite interesting is that in this particular survey, not only do they point to the fact that the far right has been very successful in rehabilitating its image to make it look very mainstream, and it is, as such, surging in the polls, but also the support for politicians in general is at a real record low. Only 10% of French respondents to this survey said that they had had any faith at all in anybody from any political party. And that really struck me after, of course, the big election. We've seen of Peter Magyar in Hungary just yesterday, where there seemed to be this big wave of optimism that things can change and that the tide against the far right is moving away from the far right in some parts of Eastern Europe, in France, it's a very different dynamic. So very interesting series of reads there along that survey in Le Mans today.
- [30:24]
D
Nina, finally a story from the New York Times that you've highlighted here, which is looking at how some new rules are actually hindering foreign firms from moving their supply chains away from China.
- [30:36]
F
It's been many Trump administrations, two Trump administrations with a hiatus in the middle that American in particular, but not just American firms have found themselves having to sort of choose, if you like, between China as a huge supplier and the United States as a big market. And that choice is becoming more and more stark here. So the New York Times is talking about the fact that China has that whopping great and growing $1.2 trillion trade surplus with other Western countries and also that the United States, Europe is becoming increasingly alarmed about this. But if any Western company tries to sort of row back from its long standing supplier agreements and doesn't grow them anymore, China apparently has, the New York Times says, introduced a new series of very vaguely word regulations and potential punitive sanctions on companies that try and do less and less business and retrench on their supply chains to China if, say they want to reshore supply chains to the United States or other Western countries. And there's real fear that this could make it really difficult for Western firms to try and unwind themselves from any joint ventures they have in China in the future. And if they were to do so, that they could have to do so on very unfavorable terms. So I think it's one to watch, certainly, as of course, we have what's happening in the Middle east, you know, putting China in that position of getting a bit more diplomatic importance because obviously it's trying to pitch itself as the reliable trading partner to certain parts of the world with obviously the United States being as bellicose as it is in the Middle east at the moment.
- [32:22]
B
Nina DeSantos back in studio one in London. We're going to be heading back to London in a moment for the news headlines with Georgina Godwin. But in the morning or in the meantime, I should say Enzi is back alongside our golf correspondent. Just anything in the papers from here. We've got the Kaleesh Times, of course, we've got the national and we've got the Golf News. Well, and there's probably many other diaspora papers that we're not looking at that. What have you spotted insy?
- [32:50]
C
Well, Kaliche Times going big on whether schools will be reopening on on Monday or not.
- [32:55]
B
This is here in the uae?
- [32:56]
C
Yeah, here in the UAE in particular, whether they'll be back open because I think one thing that I found is that parents have kind of had flashbacks to Covid when there's obviously been homeschooling and kids have been back at home and parents have had to kind of juggle how they, how they deal with work. Thankfully not a father myself and my mum will be throwing a slipper at me if I decide not to do that anytime soon. But parents I think here have been really kind of stressed out about the school situation because we had a deadline initially that was then pushed back once again. And so the Kalish Times is reporting that schools could in fact reopen on the 17th of April. That could be a direction from the Ministry of Education here. And I think that will be a big sigh of relief to many parents in this region or particularly in this country. So that's one from the College Times and just an important one from the Gulf News as well. And this is specifically about travel and I know we've been talking about new airlines and new destinations from Etihad, but the Gulf News are saying that summer travel demands here in the UAE may actually, actually be not as high as what they once usually were because of the increased flight prices because of charges of fuel, which means airlines have put their tickets up. And so what we might actually see over the summer here where it gets very, very, very hot is we might actually see a lot of people deciding to stay in the UAE and for the likes of Steve Cox and, you know, the tourism boards here in Abu Dhabi and other parts of the UAE might actually see a lot of expats deciding to stay here and utilize their summer in, in the uae. And so that could actually be a bit of a revival for many tourism boards sticking around and, and deciding that, well, we don't need to go for to cooler climates and we'll stick around in the AC and, and enjoy what the UA's got to offer.
- [34:52]
B
Yeah, I wonder what will happen to AC prices as well. It's just 1034 here in Abu Dhabi, 734 back in London, Georgina Godwin is there at the almost bottom of the hour. Headlines, Georgina.
- [35:07]
A
The United States has begun enforcing a blockade of Iranian ports, escalating tensions in the Gulf while keeping diplomatic channels open. After talks stalled over the weekend, oil markets steadied slightly with prices dipping below $100. But the Strait of Hormuz remains volatile as Iran threatens retaliation and global shipping faces fresh uncer. Canadian Prime Minister Mark Carney has won a parliamentary majority, giving his liberal government the numbers to pass legislation without relying on opposition support. The result consolidates his position until 2029 and bolsters his ability to respond to economic tensions triggered by Donald Trump's trade policies. And the leaders of China and Spain, Xi Jinping and Pedro Sanchez, met in Beijing today, pledging closer cooperation and positioning their partnership as a stabilizing for force in an increasingly fractured world. The meeting comes during Sanchez's fourth visit to China in as many years as Madrid seeks investment, trade access and a stronger diplomatic role, while urging Beijing to play a bigger part in resolving conflicts from Iran to Ukraine.
- [36:20]
D
Well, Georgina, thank you for that and we look forward to speaking to you again at the top of the hour. But Insie, you're going to throw an outdoor to explain a little bit about what's going on in the defense industry here. It's something you've been following for the magazine and for radio over the recent weeks. And obviously with what's going on in the Gulf, it's really in the spotlight. Tell us what your conversations have been about.
- [36:47]
C
Yeah, I mentioned to Tyler yesterday that I've been most impressed and actually surprised by the UAE's Ministry of Defense over the last six weeks. And I think, in fact, a lot of the world has been as well because they've been really impressive to protect this country. And you know, I'm not blowing smoke up anywhere, but, you know, they really have been. And because they've got incredible technology that essentially I've been speaking to defense experts and, and weapons manufacturers and they've said that for a long time they've been been preparing for something like this. So they've had the time, the thought process to actually get the right defense mechanisms, also make the right deals with the likes of the U.S. and other countries as well to essentially protect the country. So I got some great access about a week or so ago to a very senior member of the UAE's Ministry of Defense. In his first sit down interview, he spoke to monocle about the UAE's defence position, about the, the kind of weapons they've been using to protect the country and also whether they could actually be a part of this US And Israeli attacks on Iran. But also how could they help in the Strait of Hormuz. So Brigadier Abdel Nasser Al Hamadi, he is from the UAE's Ministry of Defense and like I said, I asked him a bit about whether the UAE could get involved in military action alongside the US And Israel on Iran as we
- [38:14]
E
iterated earlier that we're not part of this conflict, we just got aggressed by the Iranians. So we will continue that posture in defending our territory along with our international partners and close allies and also GCC members.
- [38:34]
C
Is that option off the table though
- [38:36]
E
to be part of that conflict? Not necessarily. But the UAE preserve its right to self defense upon any aggression that aims at the uae. And that's the primary role of the military and the armed forces.
- [38:53]
C
I want to get your response to what Iran's Foreign Ministry had said. They had suggested that US attacks inside Iran were coming from bases within the UAE and that's why they have subsequently targeted the uae. In response, is the military in the UAE allowing the US to use its military bases here to attack Iran?
- [39:17]
E
I think the UAE government were really clear from the beginning of the conflict that UAE territory will not be used for any attack against Iran and will continue to do so. So from a military standpoint, that's not correct and it's not happening.
- [39:37]
C
Two things there. He clearly said that the UAE is not allowing the US to use their military bases here to target Iran, which I thought was actually a bit of a shock and you know, maybe more will come out post conflict, but he was very firm on that point. We know that Bahrain has been allowing that. So that was a bit of a shock to me. And then the other point, and this is a very clear point, is that the UAE's Ministry of Defense and their defense position is that they could at any time join this conflict with the US and Israel targeting Iran. He said that that option is not off the table. And so I think that's a very important role. Particularly now when we look at the Strait of Hormuz and what's going on there. And essentially US Navy vessels now in the those waters. The UAE has always said that we will go with any American led effort to reopen the Strait of Hormuz. So we very much could see US Navy, UAE Navy vessels in those waters. And I've been down to the shipyard where they build these UAE Navy vessels. I've seen them firsthand. They're incredible, gigantic, monumental ships with massive guns on them. And they build them and they're churning them out, particularly this defense one defense organization. Then of course they've got incredible air force as well. And that's really been the jewel in the Crown for the UAE. They've defended off 95 plus percent of Iranian missiles and drones over the last six weeks. More than 3,000 drones and missiles have come in from Israel, more than any of Any other Gulf state. And the Air Force has worked very hard to shoot them down and protect the people here in the country.
- [41:15]
D
Well, obviously coming in from Iran, as you said, just quickly tell us. There's not that many Emiratis and that's traditionally why they've had a US base here, for example, a security blanket in some ways. What's the makeup of the armed forces here?
- [41:30]
C
All Emirati. It's all Emirati. And I think that's a testament to the way that they operate here. What was fascinating is, remember this war started, started during Ramadan. So we were in the middle of the holy month here. Iran used, used that essentially to target the Gulf states. And we were during Ramadan, these Air Force men and women were working around the clock to protect the country. A lot of them very young as well. You have to remember not many of them would have been in actual combat, will have not been in this position where they would have had had to defend the country like the way that they have. And it's been pretty impressive. Like I said, 95 plus percent of stopping missiles from landing on the ground. What was really interesting is I spoke to a defense manufacturer the other day, one of the leading ones here in the country, and they said 95% isn't good enough. We need 100%. And I think that just gives you a real sense of the mindset here from a defense perspective of how they're using this conflict, conflict to want to try and be better for the future, which I think is, is a testament to the uae, but also for them, understanding the importance of protecting its people from a neighbor like Iran.
- [42:43]
B
Insi we'll probably catch up with you before the end of the program. Just 1042 here at ABU Dhabi going away for a very short break. When we come back, we'll be looking at the papers, but out of Zurich.
- [42:58]
A
Iq, EQ and AI, three components key to the craft of innovation at ubs. Because to stay ahead in a rapidly evolving age, you need a partner with decades of experience, endless passion for the work, and a finger on the pulse of leading technologies. Bridging human expertise with artificial intelligence. All to elevate you. UBS banking is our craft.
- [43:35]
B
Welcome back to the Globalist live from Abu Dhabi with Tyler Brulee and Andrew Tuck. Andrew, the Pope is in. Is. Is in Africa, but Juliet Lindley is not. She's. I think she's in studio. Studio 4 in, in. In Zurich. At least I hope she is.
- [43:53]
D
Hello, Julia, because you're of course our Vatican correspondent and we need to hear from you because when you turn on the TVs here in the region this morning, oddly, the Pope has been making the top of the news for lots of different reasons, but certainly one of them is his spat, it seems with or on one sided spat with President Trump.
- [44:14]
G
Yes, it seems that missile, verbal missiles seem to be raining on the Vatican these days out of Washington. The Italian, the Vatican, they're all shocked. I think I can say that much of the international press too. So I'm going to look at a Corriere article that says non anno capito el Conclave. The Americans just haven't even understood the Conclave. And it's saying that rather than irritated, the Vatican's reaction has been measured with a sense of disappointment at how the White House just doesn't seem to get the Holy See and at how its crude level of analysis is of Vatican affairs. If you want, I mean, remember Tyler, remember Trump even posted an AI picture of himself as pope at the eve, on the eve of the conclave. We have America's first pope, we have history's first American pope. And Trump is claiming that it's thanks to him that he's in the White House, forgetting that it wasn't so much Robert Prevost's American side, if you want, that probably did win him the conclave. Again, we don't know what goes on behind closed doors in the Sistine Chapel during a conclave, but it was more his perhaps Latin Yankee side, the Peruvian, that generally multilingual, multinational side that was so appealing to his fellow cardinals at that time when there was so much geopolitical uncertainty rather than the fact that he was American. No doubt the fact that he carried an American passport perhaps helped. But for Trump to be now saying the audacity of him to be saying that it's thanks to him that he's in the White House, it's just left everybody in Rome stunned and elsewhere. I mean, Leo never has presented himself as an opponent to Trump. Think about it. It's all about peace promotion. It's all about repairing. Also, if you want the sort frayed fabric of relations between the conservative US Catholics and the Vatican and certainly the popes refusing to join the board of peace that Trump created probably raised hackles in Washington too. But in any case, this is the most outwardly declared Christian administration. Two are Catholics in Trump's administration. You've got Rubio, you've got Vance or Catholics, and you've got Hegseth, who is so often using sort of Christian rhetoric in his military, military declarations. He even said that the bombings on Iran were under the protection of divine Providence.
- [46:36]
B
Julia, just let's maybe go back to Rome for a moment. And, yeah, Signora Meloni, this notion that maybe she's lost a friend in Budape, at least a friend in leadership, and maybe, who knows, maybe she won't be friends with Mr. Orban at all, but maybe. Just tell us what La Republica is saying this morning.
- [46:59]
G
Yeah, Meloni is at a crossroads. It's sort of looking at how they are going to have to redefine Italy's role in Europe. And Cordiere also is saying without Orban, her friend Meloni is more lonely, she's more alone in Europe. So with Orban's defeat, Meloni isn't in a good place. She and Deputy Prime Minister Salvini of the Northern League had done their best to help the Hungarian leader. They sent a video message, as had Putin xi, Vance. They'd all done their bits to try to get Orban reelected. Didn't work. And now Meloni has lost a friend in Europe, and it's at a time when her star is waning on several fronts. So there was a referendum just recently backed by her coalition on judicial reform, and it failed not so much because of what the people were being asked to vote on, but essentially because people wanted to send a message of complaint to her. There's also the fact that for a long while, Meloni had a great relationship with Trump, and that meant that she was seen by many as being a crucial bridge between Europe and the US and now Trump's increasingly erratic, lunatic behavior means that that special bond has also become a liability. So now we have Orban crashing out, leaving her increasingly isolated. It you've got Trump's behavior not working well for her. And let's remember, though, that Meloni's positioning on Ukraine, as Cordierre points out, was far different to Orban's. And Peter Magyar is also saying that, you know, Russia is the aggressor, that he won't stand in the way of EU funds to Kiev. So maybe she does have a potential for mending bridges a little with Magyar. But certainly these are difficult times for Meloni, and it's the youngsters who are turning against her. Very much so, very much seen in that referendum. It was the young who were saying, like, they, they, they were sort of looking at an urbanesque Meloni government that they definitely wanted to vote against.
- [48:54]
D
And, Julia, finally, let's not miss out on the biggest global stories at the moment. Apparently, the Food at the Zurich festival is going to be a bit too pricey this year. Was this fondue inflation happening in Zurich?
- [49:06]
A
Fondue inflation?
- [49:07]
G
We're looking at the sexy Luti festival. This is even so hard to pronounce. And it happens once a year in Zurich. And every year a different canton is called the gushed canton. It's like you're allowed to be the guest at this event, but you've got to cough up half a million francs. That's like 600,000 US to be that gas canton this year. It's grabbing. And a lot of cantons, however, are saying this is just ridiculous. What do you get for that money? Well, you can have a spot with exhibitions, gifts, special food. As you said, you're imagining a lot of melted cheese music. Up on the Lindenhof, which overlooks the old town, you can have a delegation in the children's parade or in the guild parades. It's all about the guilds. Even on horseback, everyone's dressing up in traditional costume. But some people are just saying this is too much. Public funds that could be used for other things. What is the sex eluti about? I'm just going to tell you that really quickly. It's about a giant 3 1/2 meter tall snowman figure called the Berg. Not going to ask you to repeat that. He gets burnt on a pyre and depending how fast he burns in the middle of the big square in front of the gorgeous opera house in Zurich, you'll know whether it's going to be a good summer or a bad summer. If it doesn't burn at all, you're in for big trouble. That's what happened two years ago. They had to reburn it a couple of months, months later because it was just too cold and windy for it to catch fire.
- [50:31]
B
Thank you. That's. Andrew, that, that's what's happening in Zurich. That's what we're missing. Juliet Lindley back in London. And it's quite violent, Andrew, because this, the snowman's head, it just sort of blows off as well. It's quite, it's quite exciting. It's 1050 here in Abu Dhabi. You're listening to the Globe List. We're going to be coming back in a moment to talk culture. Stay with us. You are listening to the Globalist with me, Tyler Belay. Also Andrew Tuck. Andrew, we're. This is, this is show number three and there's another, I think seven. No, another seven shows to go. So it is, it is quite a, quite a week ahead. But we're going to be talking culture right now. Very happy to say that Pradeep Sharma is with us. He's the director of Arts, Culture and Heritage program at the Salman Bin Hamdan Al Nahyan foundation. And also Paz Monge is also with us as well. Head of a curatorial at the culture. Sorry, Head of curation at the Cultural foundation here at Abu Dhabi and also of curatorial affairs at the Guggenheim. That's a mouthful. I got through all of that. Anyway, good morning, everyone. Welcome, welcome. Good morning.
- [51:45]
G
Good morning.
- [51:46]
B
Maybe just tell us a little bit. I'll start with you, Pradeep. We've been talking a lot about just the power of culture, but maybe in sort of a jumping ahead moment. If you look at the season, seasons ahead, what's exciting you? When we look at the cultural landscape
- [52:02]
H
right now, when I look at our activity and what we're doing at the moment, I mean the big next big thing coming up for us is Venice. And so really looking at the UAE Pavilion in Venice and seeing how that's going to play out in terms of just conversations, dialogues that are happening globally and really excited about taking to the world what's happening here. And so what we've always tried to do with the Venice Biennale as commissioner is to try and tell the untold story of the uae. So this isn't your sort of usual stories. It's sort of stories that monocle dig up, that sort of really optimistic things that are happening at Grassroots, what people are paying attention to. You know, we have 200 nationalities here. What are they thinking about, how are they playing out? So we're super excited about that. That's a big thing coming up this year. I mean, last year was an epic year for culture in Abu Dhabi in particular. We had opening of major museums, major collections. This year we've got the Guggenheim coming. So we're very excited about that. We've got Frieze Abu Dhabi coming. So that's all of big gesture level. We've got these elements. I'm particularly interested in what's happening grassroots and I'm particularly interested in what's happening with the, the people on the ground in this coffee shops starting to see a little movement around music in particular. So we're starting to see some independent jazz musicians, a Kuwaiti jazz band. We've got a Kawali jazz mix coming. So there's some really interesting things at Grassroots that aren't maybe headline lines, but I think they're just exciting, just shows a vibrancy.
- [53:30]
D
I was going to ask you, when we've seen you before. We've been out to some of the places that you've helped develop some change. So some nicely dodgy ones, old warehouses turned into ateliers and studios and libraries and meeting places for creatives. How important, when we see these big institutions come, and we're going to talk in a second about the Guggenheim, how important important is it to ensure that this kind of more low level network of creatives and cultural ambassadors for this country are also supported and not neglected? Because when you have these epic projects, it's really easy to get kind of caught up in the, in their demands, especially when they're happening at such pace. How are you managing to do that?
- [54:10]
H
I think it's super important. I think, you know, what is the pipeline of talent? I mean, that's in the foundation. Our interest is where is that talent pipeline? So who is going to be the next, next person showing in the Guggenheim or performing at La Scala? So, you know, if we do aspire to opera, do we have places like that? So, you know, we're seeing Sharjah Performing Arts, we're seeing NYU Abu Dhabi, that talent is coming and so we need places for them to play and experiment. We don't want your first band gig to be in front of 5,000 people. You want it to be in front of 150 so you can fall over in front of your friends. And so we want to build that end of it. So partnering with dct, who are doing the big gestures and the big statements and they really are the aspirations, but we're really working on the other end. So these small places become really important. You know, that 40 seat venue becomes really, really important.
- [54:56]
B
We like, we like an intimate 40 seat venue for sure, but maybe at the other scale, and maybe you'll have this as well. It's just, you can't miss it right now when you're on Saadiyat, of course, you see the, the Guggenheim is definitely coming down the track, very much nearing completion. Just maybe the sense of tension that you have right now knowing that. Yeah, I mean the clock is, is ticking and we're looking at a, at a year end opening, I believe. Yeah. Are there butterflies? How are you feeling?
- [55:29]
I
Yeah, no, I feel like when you really face that Frank Gehry structure, it's something that, that it's humbling in a way that you walk in and you're kind of like negotiating with the architecture, with the design, with the art, and most importantly, such a global connection that has such a local, a grassroots meaning as well, with the Local scene of Abu Dhabi. And I think across dct, I think there's a very big priority of like really fomenting this cross programming across cost, like through the Guggenheim, but also mostly here at the Cultural foundation and how these institutions can speak to each other and really form, as Pradeep was saying, a wholesome and holistic arts and cultures ecosystem right now across Abu Dhabi, but also the uae.
- [56:17]
D
And just tell us it's great having an epic building that helps shape a skyline, but it's what happens inside is the most important building it. How are you going to bring that space alive again? We're hearing from Pradeep about the need to have some shows smaller scale, but you have epic spaces to, to think about how you hang collections. What kinds of things are you thinking of initially? Without giving too much away, what are going to be some of the sparks that you, you will bring to that space to make it exciting?
- [56:49]
I
Well, people don't really know about, about this, but actually the Guggenheim Abu Dhabi has been collecting art for the past, I want to say, 15 to 17 years. So it's been an exercise of collection building that has been so robust and so well thought out that I think the museum right now and with, in collaboration with DCT and the Solomon R. Guggenheim foundation, they're really equipped to showcase this collection that has been decades of work and that it's really representative of histories and narratives across the global south, but most importantly regionally around West Asia, North Africa and South Asia.
- [57:28]
D
And just tell me, obviously you're on this island with all these other institutions. You've got the Louvre just, just across the way. How do you.
- [57:36]
B
Competition, right?
- [57:37]
D
Andrew, how do you, how do you define yourself as not being the Louvre, but not. But then deliberately not being weird about not collecting certain things? How do you, how do you. How do the two institutions work together?
- [57:47]
I
I think that every institution across the landscape here in Abu Dhabi, and especially DCT cultural assets, have their own DNA that really describe themselves in such a unique and special way. But as I was saying, I think that it's such an important exercise across all of these institutions to have some type of symbiotic robotic programming that we're all building off each other. And rather, as you guys were saying, of competing or kind of like just being. Or programming in parallel, it's kind of like programming as a whole and programming culture that would really understand the situation that Abu Dhabi is growing into.
- [58:28]
B
And pretty just in 10 seconds or less, because we're at the end of the show. If you were jumping off an Etihad flight right now connecting. You had three hours to get back to the airport. What should people come and see?
- [58:39]
H
First thing? I go to Louvre right now. The Picasso show is exquisite. It's absolutely wonderful.
- [58:43]
B
Okay, you heard their listeners. Huge thanks to Pradeep Sharma and also to Chasm Pazma. Pardon me from the Guggenheim. Very good seeing both you, Andrew. That brings us to the end of today's program. Huge thanks also to Inzamin Rashid here. Also our Abu Dhabi team, Tom Webb, Steph Jungu and also Rima Al Nagbi. And also back in London, Angelica Jobson, Chris Chermack, Josefina Gomez and Lily Austin. We've got headlines, a little bit more music and Andrew, we're going to be in Dubai tomorrow, I believe. Correct?
- [59:16]
D
Yes, we're going to be in Dubai where we will be broadcasting from the ICD Brookfield place. And we're also going to be back here at Earth for the briefing today as well.
- [59:24]
B
See you then. Bye. Bye.
- [59:33]
A
With ubs, you have a truly global partner incorporating new technologies, innovative approaches and unexpected opportunities, leading you to insights that help answer the questions that matter. Delivered with passion, care and unmatched expertise. Because it's about rising with the dawn each day, knowing that we can do even better. That's what banking is to us. Not just work, but a craft. UBS advice is our craft.