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

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.

UAE's economic growth to be supported by fast vaccine rollout and digital transformation, IIF says

How knowledge-based human capital can drive UAE’s diversification efforts

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.

Results

Stage 7:

1. Caleb Ewan (AUS) Lotto Soudal - 3:18:29

2. Sam Bennett (IRL) Deceuninck-QuickStep - same time

3. Phil Bauhaus (GER) Bahrain Victorious

4. Michael Morkov (DEN) Deceuninck-QuickStep

5. Cees Bol (NED) Team DSM

General Classification:

1. Tadej Pogacar (SLO) UAE Team Emirates - 24:00:28

2. Adam Yates (GBR) Ineos Grenadiers - 0:00:35

3. Joao Almeida (POR) Deceuninck-QuickStep - 0:01:02

4. Chris Harper (AUS) Jumbo-Visma - 0:01:42

5. Neilson Powless (USA) EF Education-Nippo - 0:01:45

Results

4pm: Al Bastakiya – Listed (TB) $150,000 (Dirt) 1,900m; Winner: Panadol, Mickael Barzalona (jockey), Salem bin Ghadayer (trainer)

4.35pm: Dubai City Of Gold – Group 2 (TB) $228,000 (Turf) 2,410m; Winner: Walton Street, William Buick, Charlie Appleby

5.10pm: Mahab Al Shimaal – Group 3 (TB) $228,000 (D) 1,200m; Winner: Canvassed, Pat Dobbs, Doug Watson

5.45pm: Burj Nahaar – Group 3 (TB) $228,000 (D) 1,600m; Winner: Midnight Sands, Pat Dobbs, Doug Watson

6.20pm: Jebel Hatta – Group 1 (TB) $260,000 (T) 1,800m; Winner: Lord Glitters, Daniel Tudhope, David O’Meara

6.55pm: Al Maktoum Challenge Round-1 – Group 1 (TB) $390,000 (D) 2,000m; Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass

7.30pm: Nad Al Sheba – Group 3 (TB) $228,000 (T) 1,200m; Winner: Final Song, Frankie Dettori, Saeed bin Suroor

The specs

Engine: 3.8-litre, twin-turbo V8

Transmission: eight-speed automatic

Power: 582bhp

Torque: 730Nm

Price: Dh649,000

On sale: now

Drishyam 2

Directed by: Jeethu Joseph

Starring: Mohanlal, Meena, Ansiba, Murali Gopy

Rating: 4 stars

In post-Saddam Hussein Iraq, hope turned into despair – but wheels are beginning to turn again

Bristol statue provides UK with a 'Saddam Hussein moment' in Black Lives Matter protests

Company profile

Name: Fruitful Day

Founders: Marie-Christine Luijckx, Lyla Dalal AlRawi, Lindsey Fournie

Based: Dubai, UAE

Founded: 2015

Number of employees: 30

Sector: F&B

Funding so far: Dh3 million

Future funding plans: None at present

Future markets: Saudi Arabia, potentially Kuwait and other GCC countries

UAE SQUAD

Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Rameez Shahzad, Shaiman Anwar, Mohammed Usman, Mohammed Boota, Zawar Farid, Ghulam Shabber, Ahmed Raza, Sultan Ahmed, Imran Haider, Qadeer Ahmed, Chirag Suri , Zahoor Khan

ESSENTIALS

The flights

Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.

The hotels

Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.

The tours

A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.