As the rocket taking the UAE’s Hope probe on its mission to Mars takes to the skies later this week, it will also launch with it a bold economic opportunity that will inspire future generations in the UAE and across the Arab region.
The $200 million (Dh734.5m) investment into the Hope Mars Mission will advance our scientific understanding and will mark another significant milestone in our nation’s journey towards becoming a more knowledge-based economy, and is a leap forward in the UAE’s innovation and ambition.
As we emerge from the shadow of Covid-19 and focus on the economic challenges generated by the lockdown, it is this unique ambition and innovation of the region combined with optimistic, bold action that will reignite our economy.
As a business community, we must act decisively even with some continuing degree of uncertainty still in place caused by the ongoing virus. We have a responsibility to the communities in which we operate to do more, be more responsive to their needs, and contribute to driving our economy forward. In doing so, we need to be mindful of the fact that the world has changed for all of us, as we forge ahead into a new normal. Consumer spending has been affected by the changes to our lives during the past few months, which has seen us act differently in the way that we work and socialise. With the change in consumer behaviour, we have seen some sectors unaffected, even boom - such as parts of the technology and wider digital economy, especially e-commerce. However, the vast majority of businesses have not. They have had to make difficult decisions in how they operate within a changing environment rooted in uncertainty.
Consumer behaviour has also changed and is being driven more by the search for value. A recent survey conducted by McKinsey found 54 per cent of UAE consumers have become more mindful of where they spend their money, which is unsurprising given 55 per cent of people believe their personal finances will be affected for four months or longer due to the pandemic.
We cannot ignore facts like this and the impact that the past few months have had on peoples lives. The world has changed, and so must we. We have a responsibility as business leaders to review our business models to identify ways to evolve to meet the demands of the environment in which we operate.
This is what we are doing at Cafu, as we transition to a new model while boosting our approach to innovation. I believe the strong companies emerging successfully into this new normal will be those that act boldly and confidently, with a more optimistic viewpoint and with agility in the way that they operate their business model to be more understanding of the needs of their customers and communities. Central to this agility, I believe, is innovation – not just in products and services, but also in terms of thinking and embracing change rather than fearing it.
If we reflect on the financial crisis of 2008/09, we witnessed a boom in creative thinking that led to the rise of companies such as AirBnB, which revamped the market for short-term living for those priced out by hotels. From adversity can come opportunity, from challenges can come creativity in finding better ways to be more responsive, and from uncertainty can come a greater understanding and appreciation of what our community is experiencing.
As the world has started to unlock and return to some form of new normal, the UAE’s government through its foresight to the challenges of a changing world has also reshaped its structure and priorities to drive ahead a strong agenda focused on being more agile and responsive to its citizens and residents, further enhancing its ability to both identify and create opportunities, and achieve success for our nation. We all have an active role to play in delivering a prosperous future for ourselves, our communities, and our nation. As the Hope Mission is proving to all of us and the rest of the world, we can take great pride in the bold innovation that is driving the ambition for our nation, and inspiring a region to dream big and achieve more.
Rashid Al Ghurair is founder and chief executive of on-demand fuel delivery service Cafu
THE BIG THREE
NOVAK DJOKOVIC
19 grand slam singles titles
Wimbledon: 5 (2011, 14, 15, 18, 19)
French Open: 2 (2016, 21)
US Open: 3 (2011, 15, 18)
Australian Open: 9 (2008, 11, 12, 13, 15, 16, 19, 20, 21)
Prize money: $150m
ROGER FEDERER
20 grand slam singles titles
Wimbledon: 8 (2003, 04, 05, 06, 07, 09, 12, 17)
French Open: 1 (2009)
US Open: 5 (2004, 05, 06, 07, 08)
Australian Open: 6 (2004, 06, 07, 10, 17, 18)
Prize money: $130m
RAFAEL NADAL
20 grand slam singles titles
Wimbledon: 2 (2008, 10)
French Open: 13 (2005, 06, 07, 08, 10, 11, 12, 13, 14, 17, 18, 19, 20)
US Open: 4 (2010, 13, 17, 19)
Australian Open: 1 (2009)
Prize money: $125m
Abaya trends
The utilitarian robe held dear by Arab women is undergoing a change that reveals it as an elegant and graceful garment available in a range of colours and fabrics, while retaining its traditional appeal.
Innotech Profile
Date started: 2013
Founder/CEO: Othman Al Mandhari
Based: Muscat, Oman
Sector: Additive manufacturing, 3D printing technologies
Size: 15 full-time employees
Stage: Seed stage and seeking Series A round of financing
Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now.
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
The Disaster Artist
Director: James Franco
Starring: James Franco, Dave Franco, Seth Rogan
Four stars
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
THE SPECS
Engine: 1.5-litre, four-cylinder turbo
Transmission: seven-speed dual clutch automatic
Power: 169bhp
Torque: 250Nm
Price: Dh54,500
On sale: now
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How to donate
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
Napoleon
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ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
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
Results
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UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
Panipat
Director Ashutosh Gowariker
Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment
Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman
Rating 3 /5 stars
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
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Mohammed bin Zayed Majlis
T20 WORLD CUP QUALIFIERS
Qualifier A, Muscat
(All matches to be streamed live on icc.tv)
Fixtures
Friday, February 18: 10am Oman v Nepal, Canada v Philippines; 2pm Ireland v UAE, Germany v Bahrain
Saturday, February 19: 10am Oman v Canada, Nepal v Philippines; 2pm UAE v Germany, Ireland v Bahrain
Monday, February 21: 10am Ireland v Germany, UAE v Bahrain; 2pm Nepal v Canada, Oman v Philippines
Tuesday, February 22: 2pm Semi-finals
Thursday, February 24: 2pm Final
UAE squad:Ahmed Raza(captain), Muhammad Waseem, Chirag Suri, Vriitya Aravind, Rohan Mustafa, Kashif Daud, Zahoor Khan, Alishan Sharafu, Raja Akifullah, Karthik Meiyappan, Junaid Siddique, Basil Hameed, Zafar Farid, Mohammed Boota, Mohammed Usman, Rahul Bhatia
Tu%20Jhoothi%20Main%20Makkaar%20
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MATCH INFO
Azerbaijan 0
Wales 2 (Moore 10', Wilson 34')
Company%20profile
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Match info
Uefa Champions League Group C
Liverpool v Napoli, midnight
MATCH INFO
Aston Villa 1 (Konsa 63')
Sheffield United 0
Red card: Jon Egan (Sheffield United)
