S.Korean president leaves for Abu Dhabi

Syrian President Bashar al-Assad has warned that the fall of his regime would destabilise the region "for many years," as US President Barack Obama announced talks with Middle East allies over the crisis.

South Korea's presidential office said in a press release that South Korean President Lee Myung-bak during a two-day state visit by Malaysian King Mizan Zainal Abidin discussed enhancing cooperation between the two countries in nuclear energy and other economic fields. Reporting on the bilateral discussions, a presidential official quoted President Lee as saying, "Malaysia has recently successfully overcome the global economic crisis, demonstrating a high level of national competitiveness," Yonhap news agency reported.

German Chancellor Angela Merkel arrived on Monday in Abu Dhabi for the first leg of a four-nation tour of the oil-rich Gulf region, the official WAM news agency reported.Merkel, who will also visit Bahrain, Qatar and OPEC kingpin Saudi Arabia, was welcomed in the capital of the United Arab Emirates by Economy Minister Sultan bin Said al-Mansuri, the report said.The German leader is due to meet with UAE President Sheikh Khalifa bin Zayed al-Nahayan and his brother Sheikh Mohammed, the crown prince of Abu Dhabi, the richest of the UAE's seven emirates.

By Stanley Carvalho ABU DHABI (Reuters)

Sheikh Khalifa bin Zayed al-Nahyan was re-elected president of the United Arab Emirates for a second five-year term on Tuesday, the official news agency WAM announced.The Supreme Federal Council, made up of the rulers of the seven emirates in the UAE, selected Sheikh Khalifa, 61.He first rose to the presidency as oil-rich Abu Dhabi's ruler in 2004 on the death of his father, Sheikh Zayed bin Sultan al-Nahyan, who founded the Gulf state in 1971.The council designates both the president and vice president.

South Korean President Lee Myung-Bak will make a week-long visit to Turkey, Saudi Arabia, Qatar and the United Arab Emirates as Seoul seeks to diversify its oil sources, it was announced on Monday.The United States wants its close ally South Korea to reduce purchases of Iranian crude in line with a US-led drive to sanction Tehran for its suspected nuclear weapons programme.South Korea, the world's fifth largest oil importer, currently accounts for around 10 percent of Iran's oil exports. It has yet to cut the import of Iranian oil due to fears of economic damage.

Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.The paragraphs below come courtesy of Mark Mobius, emerging markets guru and executive chairman of Templeton Asset Management.