The Abu Dhabi Investment Office aims to open more offices around the world to attract investors to the capital, according to a senior official.
Adio, which is responsible for attracting and promoting investment in Abu Dhabi, has eight offices in the US, Israel, Germany, France, the UK, China and South Korea.
“The minute the companies know that we have offices abroad, the excitement level increases and also productivity when it comes to the project itself and so we definitely feel that it is important that we are present internationally and in the right countries,” Haitham Al Subaihi, acting executive director of business development and promotions, told The National on Tuesday.
He did not specify in which countries or regions Adio is planning new offices, but said there were a lot of opportunities globally.
“When you look at every region, they have something to offer … you look at Asia, there's a lot of ICT opportunities. In the West, you see a lot of hospitality and tourism opportunities. Different parts of the world are leading different sectors, so there are [a] lot of options” he said.
Abu Dhabi has launched a number of initiatives as it aims to attract more investment into the emirate and diversify its economy away from oil.
In June, the UAE capital launched a new industrial strategy to boost the contribution of the sector to the economy. As part of the strategy, it is investing Dh10 billion ($2.72 billion) across six industrial programmes to more than double the size of the emirate’s manufacturing sector to Dh172 billion by 2031.
The emirate also announced measures such as rent rebates, discounts on utility bills and loan guarantee packages to support businesses and stimulate economic growth during the pandemic.
Abu Dhabi's gross domestic product exceeded Dh1.1 trillion last year, an estimated 9.3 per cent growth over 2021, with the non-oil sector accounting for half of it, Ahmed Al Zaabi, chairman of the Abu Dhabi Department of Economic Development, said on Monday.
The emirate aims to increase its non-oil exports by 143 per cent to Dh178.8 billion by 2031, he told the Annual Investment Meeting conference in Abu Dhabi.
“Abu Dhabi is witnessing the rise of the falcon economy, which continues to go from strength to strength, driven by agile policies and a robust regulatory and legal framework, making us an anchor for companies looking to expand the operations in the region,” Mr Al Zaabi said.
More than 50 companies have benefitted from Adio’s Dh2 billion innovation programme launched in 2020 to support companies with financial incentives, according to Mr Al Subaihi.
“The innovation programme that was launched a few years ago was dedicated to five key five key sectors — AgriTech, FinTech, health care, tourism and ICT,” he said. “And with it came the support of allowing the businesses to set up easily within Abu Dhabi, the more that they spent on their cost structure, the more they received as rebates from this programme and this has been very successful.”
Adio added a number of companies to the programme, including local cycling shop Wolfi's, technology companies Fairwater Capital, Frontera Capital and Cofe App and Israel’s Liquidity Group.
“Beyond that, we want to make sure that our deal has all the right components and needs of what investors looking for,” said Mr Al Subaihi.
“They might look for a rebate programme to make their initial start-up in the emirate, a successful one for growth and stability, but they might need land as well. And we do have a land lease programme called Musataha to build their future projects or their expansion.
“We also have a public to private partnership and this focuses on long-term infrastructure, infrastructure projects, and is dedicated to the private sector in order for them to have guarantee on a long term business within Abu Dhabi itself.”
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
Sugary teas and iced coffees
The tax authority is yet to release a list of the taxed products, but it appears likely that sugary iced teas and cold coffees will be hit.
For instance, the non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.
Cold coffee brands are likely to be hit too. Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.
UAE currency: the story behind the money in your pockets
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
Five famous companies founded by teens
There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:
- Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate.
- Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc.
- Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway.
- Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
- Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
UAE currency: the story behind the money in your pockets
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
MATCH INFO
Euro 2020 qualifier
Croatia v Hungary, Thursday, 10.45pm, UAE
TV: Match on BeIN Sports
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Famous left-handers
- Marie Curie
- Jimi Hendrix
- Leonardo Di Vinci
- David Bowie
- Paul McCartney
- Albert Einstein
- Jack the Ripper
- Barack Obama
- Helen Keller
- Joan of Arc
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
More from Rashmee Roshan Lall
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
EA Sports FC 25
Developer: EA Vancouver, EA Romania
Publisher: EA Sports
Consoles: Nintendo Switch, PlayStation 4&5, Xbox One and Xbox Series X/S
Rating: 3.5/5
The specs: 2019 Audi A7 Sportback
Price, base: Dh315,000
Engine: 3.0-litre V6
Transmission: Seven-speed automatic
Power: 335hp @ 5,000rpm
Torque: 500Nm @ 1,370rpm
Fuel economy 5.9L / 100km
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
