One of the most remarkable aspects of the UAE's growth since its foundation in 1971 is the pace at which it has occurred. On the country's golden jubilee, the strategy behind maintaining this rate of development is evolving to match modern times.
On Sunday, the second round of “Projects of the 50”, a collection of initiatives and programmes to help develop and diversify the country over the next 50 years, was announced.
The opening list, unveiled at the beginning of September, in large part focused the work and priorities of the UAE's government, including investment in industry and relaxed visa regulations. It also highlighted the aims of the country's foreign policy, as well as ongoing efforts to boost social cohesion.
Sunday’s announcement focused on the country's private sector. Financial, legal, energy, retail, tourism and healthcare entities have been developing in the UAE for years, employing many from the UAE’s local communities as well as foreign residents. Now there is an added emphasis on getting more UAE nationals employed in the private sector.
At the centre is a new recruitment plan to spend Dh24 billion ($6.53bn) on securing 75,000 Emiratis rewarding private sector jobs. In five years, private companies in the UAE should have a workforce that is at least 10 per cent Emirati. This is a confirmation of the private sector's growing role in creating sustainable economic growth.
The policy will be supported by incentives. Some were geared towards getting young people opportunities. Graduate salaries will be topped up by up to Dh8,000 during the first year of work, new apprentice programmes are being created, as well as a scheme to help with the cost of child care.
This is taking place alongside the government's ongoing investment in education and universities. NYU Abu Dhabi is celebrating its 10-year anniversary this month and Emirati institutions are reaching out across the world to improve teaching. Zayed University is working with American innovator Minerva Project to diversify degree programmes that prepare students for an ever-changing global jobs market.
For commercial activities to thrive, they must be accompanied by a focus on education with practical skills. One recent announcement on this front is a plan to institute a work permit for teenagers to gain valuable employment experience, as long as it does not interfere with their education. Part time, more informal employment in adolescence is often part of a young person's holistic education abroad. Allowing it in the UAE means a new generation will have the chance to learn about employment before they enter the workplace permanently.
Other plans will concentrate on entrepreneurial opportunities for those at a later stage in their professional lives. Some federal government employees will be incentivised to take early retirement to start businesses, with financial support to help them do so.
Speaking to The National, leading Emirati banker Saeed Al Awar described these new policies as exemplifying the UAE moving from using one of its most important resources of the past 50 years, oil, to an even more important asset for country: its local workforce. The journey so far has been about changing a union of seven emirates into a commercial haven for the region, a feat it managed mere decades after its foundation. For the next 50 years to be as remarkable, the government is hedging its bets on a more diverse economy by a renewed investment in its citizens.
Day 3 stumps
New Zealand 153 & 249
Pakistan 227 & 37-0 (target 176)
Pakistan require another 139 runs with 10 wickets remaining
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
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UAE squad
Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
Race card
6.30pm: Al Maktoum Challenge Round-3 Group 1 (PA) US$100,000 (Dirt) 2,000m
7.05pm: Meydan Classic Listed (TB) $175,000 (Turf) 1,600m
7.40pm: Handicap (TB) $135,000 (T) 2,000m
8.15pm: Handicap (TB) $135,000 (D) 1,600m
8.50pm: Nad Al Sheba Trophy Group 2 (TB) $300,000 (T) 2,810m
9.25pm: Curlin Stakes Listed (TB) $175,000 (D) 2,000m
10pm: Handicap (TB) $135,000 (T) 2,000m
10.35pm: Handicap (TB) $175,000 (T) 1,400m
The National selections
6.30pm: Shahm, 7.05pm: Well Of Wisdom, 7.40pm: Lucius Tiberius, 8.15pm: Captain Von Trapp, 8.50pm: Secret Advisor, 9.25pm: George Villiers, 10pm: American Graffiti, 10.35pm: On The Warpath
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
Karwaan
Producer: Ronnie Screwvala
Director: Akarsh Khurana
Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar
Rating: 4/5
Student Of The Year 2
Director: Punit Malhotra
Stars: Tiger Shroff, Tara Sutaria, Ananya Pandey, Aditya Seal
1.5 stars
