UAE's Ministry of Economy signs partnership agreement online with Harvard University to support economic policy in the Emirates. Photo: MoE
UAE's Ministry of Economy signs partnership agreement online with Harvard University to support economic policy in the Emirates. Photo: MoE
UAE's Ministry of Economy signs partnership agreement online with Harvard University to support economic policy in the Emirates. Photo: MoE
UAE's Ministry of Economy signs partnership agreement online with Harvard University to support economic policy in the Emirates. Photo: MoE

UAE Ministry of Economy teams up with Harvard's Growth Lab on two-year programme


Alkesh Sharma
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The UAE’s Ministry of Economy has signed a co-operation agreement with the Harvard University’s Growth Lab to develop a two-year joint work programme, the ministry said on Tuesday.

Under the scheme, Harvard University’s top academicians will help to build evidence-based economic analyses and new economic models in the Emirates. It aims to support economic policies in the UAE and strengthen the government’s economic capability.

The new partnership is in line with the government’s efforts to develop a new model for the formulation of future economic policies based on a proactive and flexible approach, said Abdulla bin Touq Al Marri, UAE’s Minister of Economy.

It represents a “major milestone” that paves the way towards the establishment of the “UAE Growth Lab” that was launched by Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, during his visit to the ministry's headquarters last June.

“The co-operation with Harvard University’s Growth Lab will now provide experimental and theoretical models to test the proposed economic policies in the UAE and measure their long-term impact,” said Mr Al Marri.

Under the terms of the agreement, the Harvard Growth Lab will allocate the resources to support research and development in the areas of growth, trade, investment, competition and other areas related to sustainable growth.

This will also include the designing and implementation of policies aimed at building research skills and capabilities and strengthening the use of data in research and analysis.

“The economic openness policies adopted by the UAE, its capabilities in terms of infrastructure, technology, transport and logistics services and the investor-friendly and attractive business environment, contributed to strengthening the country’s position as a preferred destination for multinational companies to open their regional headquarters in,” Ricardo Hausmann, the founder and director of Harvard Growth Lab, said.

“The methodology adopted by the UAE to deal with the challenges imposed by the global pandemic provided the world with an important lesson about the ability to anticipate opportunities and transform challenges into development and a more flexible economic model,” said Mr Hausmann.

The Harvard Growth Lab specialises in theoretical and empirical research into the determinants of growth, and its social, political and environmental sustainability.

It focuses on four main pillars: economic complexity, the growth diagnostics, inclusive growth and skills, and human capital.

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Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Terror attacks in Paris, November 13, 2015

- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France

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Andy Murray - hip

Novak Djokovic - elbow

Roger Federer - back

Stan Wawrinka - knee

Kei Nishikori - wrist

Marin Cilic - adductor

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Price, base / as tested Dh137,000 / Dh189,950

Engine 3.6-litre V6

Gearbox Eight-speed automatic

Power 280hp @ 6,200rpm

Torque 360Nm @ 2,750rpm

Fuel economy, combined 11.7L / 100km

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UAE currency: the story behind the money in your pockets
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Power: 905hp

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Kareem Abdul-Jabbar 38,387
Karl Malone 36,928
Kobe Bryant 33,643
Michael Jordan 32,292
LeBron James 31,425
Wilt Chamberlain 31,419

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Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
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• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil

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A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

if you go

The flights

Fly to Rome with Etihad (www.etihad.ae) or Emirates (www.emirates.com) from Dh2,480 return including taxes. The flight takes six hours. Fly from Rome to Trapani with Ryanair (www.ryanair.com) from Dh420 return including taxes. The flight takes one hour 10 minutes. 

The hotels 

The author recommends the following hotels for this itinerary. In Trapani, Ai Lumi (www.ailumi.it); in Marsala, Viacolvento (www.viacolventomarsala.it); and in Marsala Del Vallo, the Meliaresort Dimore Storiche (www.meliaresort.it).

The more serious side of specialty coffee

While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.

The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.

Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”

One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.

Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms. 

UAE currency: the story behind the money in your pockets
The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

Start-up hopes to end Japan's love affair with cash

Across most of Asia, people pay for taxi rides, restaurant meals and merchandise with smartphone-readable barcodes — except in Japan, where cash still rules. Now, as the country’s biggest web companies race to dominate the payments market, one Tokyo-based startup says it has a fighting chance to win with its QR app.

Origami had a head start when it introduced a QR-code payment service in late 2015 and has since signed up fast-food chain KFC, Tokyo’s largest cab company Nihon Kotsu and convenience store operator Lawson. The company raised $66 million in September to expand nationwide and plans to more than double its staff of about 100 employees, says founder Yoshiki Yasui.

Origami is betting that stores, which until now relied on direct mail and email newsletters, will pay for the ability to reach customers on their smartphones. For example, a hair salon using Origami’s payment app would be able to send a message to past customers with a coupon for their next haircut.

Quick Response codes, the dotted squares that can be read by smartphone cameras, were invented in the 1990s by a unit of Toyota Motor to track automotive parts. But when the Japanese pioneered digital payments almost two decades ago with contactless cards for train fares, they chose the so-called near-field communications technology. The high cost of rolling out NFC payments, convenient ATMs and a culture where lost wallets are often returned have all been cited as reasons why cash remains king in the archipelago. In China, however, QR codes dominate.

Cashless payments, which includes credit cards, accounted for just 20 per cent of total consumer spending in Japan during 2016, compared with 60 per cent in China and 89 per cent in South Korea, according to a report by the Bank of Japan.

MATCH INFO

Champions League quarter-final, first leg

Ajax v Juventus, Wednesday, 11pm (UAE)

Match on BeIN Sports

Updated: December 14, 2021, 4:35 PM