The UAE is to spend Dh170 billion ($46bn) on transport and road projects over the next five years to ease traffic congestion, amid a surge in population and rapid economic growth.
Suhail Al Mazrouei, Minister of Energy and Infrastructure, unveiled the plan at the UAE Government Annual Meetings in Abu Dhabi.
He said that the projects were part of a strategy to enhance infrastructure, including the expansion of major roads, the improvement of public transport and the implementation of high-speed rail projects.
The plan includes the addition of six lanes to Al Ittihad Road, three in each direction, increasing its capacity by 60 per cent and bringing the total to 12 lanes. Al Ittihad Road connects Sharjah with Dubai and is gridlocked daily.
Emirates Road, an inland motorway connecting much of the country, is to be expanded to 10 lanes along its entire stretch, increasing capacity by 65 per cent and reducing travel time by 45 per cent.
Meanwhile, Sheikh Mohamed bin Zayed Road, which connects Dubai and Abu Dhabi and runs into the northern emirates, is to be widened to 10 lanes, increasing capacity by 45 per cent.
The announcement came as the UAE experiences a population boom and draws businesses and high-net-worth individuals from around the world.
The UAE's population hit 11 million in July - up from seven million in 2010 - while Dubai crossed four million in August.
The plan also includes a study to construct a fourth federal motorway, extending 120km with 12 lanes, with a capacity of up to 360,000 trips a day.
“These efforts come in implementation of the leadership’s directives to develop a smart, flexible, and sustainable infrastructure that enhances traffic flow, supports comprehensive development, and improves quality of life in line with the UAE Centennial 2071 plan,” Mr Al Mazrouei said.
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
SPECS
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How to invest in gold
Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.
A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).
Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.
Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”
Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”
Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”
By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.
You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.
You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.
RESULT
Manchester City 1 Sheffield United 0
Man City: Jesus (9')
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
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Fuel consumption: 11.7L/100km
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Korean Film Festival 2019 line-up
Innocent Witness, June 26 at 7pm
On Your Wedding Day, June 27 at 7pm
The Great Battle, June 27 at 9pm
The Witch: Part 1. The Subversion, June 28 at 4pm
Romang, June 28 at 6pm
Mal Mo E: The Secret Mission, June 28 at 8pm
Underdog, June 29 at 2pm
Nearby Sky, June 29 at 4pm
A Resistance, June 29 at 6pm
Mane points for safe home colouring
- Natural and grey hair takes colour differently than chemically treated hair
- Taking hair from a dark to a light colour should involve a slow transition through warmer stages of colour
- When choosing a colour (especially a lighter tone), allow for a natural lift of warmth
- Most modern hair colours are technique-based, in that they require a confident hand and taught skills
- If you decide to be brave and go for it, seek professional advice and use a semi-permanent colour
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