The UAE plans to invest $50 billion in Canada as part of an investment framework agreement between the two countries.
As part of the agreement, the Arab world’s second largest economy will invest in vital sectors including energy, AI logistics, mining and other strategic industries, the Ministry of Investment said.
Under the directive of the UAE President Sheikh Mohamed, Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, approved the investment framework, with Canadian Prime Minister Mark Carney and Mohamed Alsuwaidi, UAE Minister of Investment and managing director and chief executive of ADQ, in attendance.
Mr Carney is visiting the UAE as Canada focuses on strengthening economic ties with Abu Dhabi. The foreign direct investment stock from the UAE stood at $8.8 billion in 2024.
In October, the UAE signed an initial pact with Canada focusing on artificial intelligence and digital innovation, in a move aimed at boosting bilateral ties. The countries will explore opportunities to collaborate in the digital infrastructure sector, with a focus on developing data centres and AI projects, the Ministry of Investment said in a post on X at the time.
Sheikh Mohamed on Thursday held talks with Mr Carney in Abu Dhabi, as the countries signed an agreement to strengthen economic co-operation.
The two leaders explored ways to boost ties in key sectors such as investment, trade, technology, AI and clean energy during a meeting at Qasr Al Shati, as part of Mr Carney's official visit to the Emirates.
In the past few years, the UAE has been building trade and investment ties through Comprehensive Economic Partnership Agreements (Cepa) to diversify its non-oil economic base.
The country aims to increase the value of its trade to $1 trillion by 2031. The UAE also aims to double the size of its economy to exceed $800 billion by the same year, with Cepa programmes among the central planks of the national strategy.
Since the Cepa programme was launched in September 2021, the UAE has concluded agreements with countries around the globe.
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
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How much of your income do you need to save?
The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.
In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)
Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.
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Alma Books
UAE currency: the story behind the money in your pockets
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How has net migration to UK changed?
The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.
It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.
The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.
The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.
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Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
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UAE SQUAD
Mohammed Naveed (captain), Mohamed Usman (vice captain), Ashfaq Ahmed, Chirag Suri, Shaiman Anwar, Mohammed Boota, Ghulam Shabber, Imran Haider, Tahir Mughal, Amir Hayat, Zahoor Khan, Qadeer Ahmed, Fahad Nawaz, Abdul Shakoor, Sultan Ahmed, CP Rizwan
Conservative MPs who have publicly revealed sending letters of no confidence
- Steve Baker
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- Simon Clarke
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Five hymns the crowds can join in
Papal Mass will begin at 10.30am at the Zayed Sports City Stadium on Tuesday
Some 17 hymns will be sung by a 120-strong UAE choir
Five hymns will be rehearsed with crowds on Tuesday morning before the Pope arrives at stadium
‘Christ be our Light’ as the entrance song
‘All that I am’ for the offertory or during the symbolic offering of gifts at the altar
‘Make me a Channel of your Peace’ and ‘Soul of my Saviour’ for the communion
‘Tell out my Soul’ as the final hymn after the blessings from the Pope
The choir will also sing the hymn ‘Legions of Heaven’ in Arabic as ‘Assakiroo Sama’
There are 15 Arabic speakers from Syria, Lebanon and Jordan in the choir that comprises residents from the Philippines, India, France, Italy, America, Netherlands, Armenia and Indonesia
The choir will be accompanied by a brass ensemble and an organ
They will practice for the first time at the stadium on the eve of the public mass on Monday evening
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
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Adele: The Stories Behind The Songs
Caroline Sullivan
Carlton Books
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The specs: 2018 Renault Megane
Price, base / as tested Dh52,900 / Dh59,200
Engine 1.6L in-line four-cylinder
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Power 115hp @ 5,500rpm
Torque 156Nm @ 4,000rpm
Fuel economy, combined 6.6L / 100km
ACC 2019: The winners in full
Best Actress Maha Alemi, Sofia
Best Actor Mohamed Dhrif, Weldi
Best Screenplay Meryem Benm’Barek, Sofia
Best Documentary Of Fathers and Sons by Talal Derki
Best Film Yomeddine by Abu Bakr Shawky
Best Director Nadine Labaki, Capernaum
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Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
