The Abu Dhabi Investment Office and Mubadala Investment Company signed a preliminary agreement with Roborace to accelerate the development of the mobility sector by using autonomous technologies and metaverse infrastructure to facilitate faster and wider adoption of these innovations.
The agreement will build upon the emirate's innovation ecosystem, infrastructure and strategic assets. It will be supported by Abu Dhabi Motorsports Management, which will provide access to Yas Marina Circuit, and twofour54, the capital's media free zone, which will be a destination for production and office infrastructure for potential incorporation.
Roborace, the world’s first global championship for full-sized electric-powered autonomous race cars, will also consider the opportunity to establish its regional headquarters in Abu Dhabi.
The agreement was signed by Badr Al Olama, executive director for UAE investments at Mubadala Investment Company; Mohammed Al Dhaheri, head of infrastructure partnerships at Adio; and Chip Pankow, chief competition officer of Roborace.
“We are actively leading the innovation sector, shaping the industries of tomorrow. Through this strategic agreement, we aim to bring autonomous driving technology to the UAE and further develop autonomous driving systems and metaverse technologies and applications, laying the foundation of an exciting new sector in Abu Dhabi and aligned with our efforts to diversify the economy of the UAE," Mr Al Olama said on Friday.
The UAE is actively stepping up efforts to develop its mobility sector, with autonomous driving technologies being a key segment. Last month, the Cabinet approved a temporary licence to test self-driving vehicles on the country's roads; two weeks later, at the Abu Dhabi Smart City Summit, the UAE revealed its first fully-autonomous taxi under a project called TXAI.
In October, Abu Dhabi announced the launch of a dedicated artificial intelligence research centre, aiming to attract talent from around the world to work on emerging innovations, including autonomous technologies.
In Dubai, three agreements were signed to develop innovative self-driving solutions at last month's Dubai World Congress for Self-Driving Transport, involving prominent UAE entities including conglomerate Majid Al Futtaim, ride-hailing service Careem and e-commerce platform Noon.com.
The metaverse, meanwhile, is defined as a digital space that allows those in it to communicate and move virtually in their three-dimensional avatars or digital representations. The concept was significantly advanced when Facebook rebranded as Meta Platforms, and chief executive Mark Zuckerberg said that the company would now be "metaverse-first".
The agreement between the three organisations is a testament to their commitment to the Fourth Industrial Revolution, and they believe that AI, and the intersection of the physical and virtual worlds, will be crucial to shaping the future of industries and societies.
We aim to bring autonomous driving technology to the UAE and further develop autonomous driving systems and metaverse technologies and applications, laying the foundation of an exciting new sector in Abu Dhabi and aligned with our efforts to diversify the economy of the UAE
Badr Al Olama,
executive director for UAE investments at Mubadala Investment Company
The agreement is fully aligned with Abu Dhabi’s approach to innovation and the emirate’s technology-related ambitions, Markus Thomas, head of investments at Adio, said.
"Crossing an innovative media and engagement platform with advanced simulation technology in the metaverse advances Abu Dhabi’s gaming agenda while building an access point for a global audience and automotive OEMs [original equipment manufacturers) alike. With our strategic Abu Dhabi partners, we are looking forward to making this possible," he said.
Roborace is exhibiting one of its autonomous racing cars – and Guinness World Records' fastest autonomous car – Robocar, at FutrWorld, which runs until Saturday at Manarat Al Saadiyat.
Abu Dhabi Equestrian Club race card
5pm: Abu Dhabi Fillies Classic (PA) Prestige; Dh110,000; 1,400m
5.30pm: Abu Dhabi Colts Classic (PA) Prestige; Dh110,000; 1,400m
6pm: Maiden (PA); Dh80,000; 1,600m
6.30pm: Abu Dhabi Championship (PA) Listed; Dh180,000; 1,600m
7pm: Wathba Stallions Cup (PA) Handicap; Dh70,000; 2,200m
7.30pm: Handicap (PA); Dh100,000; 2,400m
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
COMPANY%20PROFILE
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What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
