The Middle East has become an active innovation centre as companies pursue new technology outside their traditional areas of strength such as artificial intelligence and machine learning, according to a survey by the Boston Consulting Group.
The study, which was released this month, said 58 per cent of companies in the region are "committed innovators", compared with the global average of 45 per cent.
It also found that 63 per cent of Middle Eastern companies consider innovation to be one of their top three priorities, compared with the global average of 66 per cent, while about 57 per cent of local companies said they intend to boost their investment in innovation.
The consultancy assessed the performance of companies according to four criteria: industry disruption, value creation, peer views and global perception.
It said Middle Eastern economies are “newer, re-energised and motivated players” in the innovation game.
The BCG report said the region is home to some of the most committed innovators and has become a “melting pot for multinational corporations and leading global academic institutions”.
“Middle Eastern governments and private institutions have established global partnerships that serve the innovation agenda,” it said.
Regional executives said they follow global best practice in pursuing innovation. They scored their own companies’ innovation maturity at 71 per cent, compared to 72 per cent for Chinese respondents.
German executives scored their innovation maturity at 64 per cent, compared to 61 per cent for respondents in the US and 59 per cent for executives in Japan and the UK.
BCG interviewed 2,500 executives during the survey, with 63 per cent of the respondents being senior executives while 37 per cent were at the level of senior vice president or vice-president.
The study named Saudi Aramco as the region’s top innovator, due to its efforts to reimagine the internal combustion engine of the future.
One of Aramco’s initiatives includes its work in the field of mobile carbon capture, a technology that can capture up to 25 per cent of the carbon dioxide emitted by vehicles. The oil company intends to raise that threshold to 50 per cent.
Aramco was followed by Dubai’s Emirates airline and Saudi petrochemicals operator Sabic.
BCG said innovators in the Middle East have significant resources at their disposal and are backed by regional transformation programmes such as the UAE Vision 2021 and Saudi Arabia Vision 2030, which focus on the adoption of new technology and innovation amid a push to reduce their reliance on hydrocarbons.
The report said the region’s large young population is accelerating the adoption of new work models and advanced technologies, such as machine learning and AI.
“Another advantage is that Middle Eastern companies are good at marrying global innovations with local knowledge and experience to create new markets and substantial value … and then attracting global interest to the region,” it said.
BCG highlighted the $3 billion acquisition of Careem by Uber last year and the buyout of local e-commerce site Souq by Amazon for $580m in 2017 as examples of the region making headway on the innovation front.
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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.
if you go
The flights
Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning.
The trains
Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.
The hotels
Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.
The Internet
Hive Mind
four stars
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BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
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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
MATCH INFO
What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
Zayed Sustainability Prize
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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
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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Read part one: how cars came to the UAE
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
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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%3Cp%3EAuthor%3A%20Diaa%20Jubaili%3C%2Fp%3E%0A%3Cp%3EPages%3A%20180%3C%2Fp%3E%0A%3Cp%3EPublisher%3A%20Deep%20Vellum%20Publishing%C2%A0%3C%2Fp%3E%0A
Total eligible population
About 57.5 million people
51.1 million received a jab
6.4 million have not
Where are the unvaccinated?
England 11%
Scotland 9%
Wales 10%
Northern Ireland 14%
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