Attendees at Adipec in Abu Dhabi this week. The UAE capital has hosted ministers, energy experts, influential private sector figures and the next generation of local leadership talent. Antonie Robertson / The National
Attendees at Adipec in Abu Dhabi this week. The UAE capital has hosted ministers, energy experts, influential private sector figures and the next generation of local leadership talent. Antonie Robertson / The National
Attendees at Adipec in Abu Dhabi this week. The UAE capital has hosted ministers, energy experts, influential private sector figures and the next generation of local leadership talent. Antonie Robertson / The National
Attendees at Adipec in Abu Dhabi this week. The UAE capital has hosted ministers, energy experts, influential private sector figures and the next generation of local leadership talent. Antonie Roberts


Abu Dhabi is a hot spot for capital ideas


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November 07, 2024

In changing times, it pays to be prepared. While much of the world has been gripped by the high-octane drama of the US presidential election, two important gatherings in Abu Dhabi have shown how the Emirates is readying itself for the future.

The capital hosted the UAE’s Annual Government Meetings – a three-day retreat for national leaders as well as hundreds of federal and local officials. Officials spent hours reviewing the country’s various national strategies and worked on ideas for growth and development, such as a new strategy to double cumulative foreign direct investment to Dh1.3 trillion ($354 billion) by 2031.

Several other issues on the agenda are vital – artificial intelligence, national identity and the family are just three examples. Indeed, President Sheikh Mohamed, who attended on Wednesday took part a session on building Emirati families. There he described building Emirati families and fostering conditions for their growth as a shared national responsibility.

An important addition to the meetings' agenda this year is what Mohammed Al Gergawi, Minister of Cabinet Affairs, described as a “focus on empowering young national government leaders”.

When it comes to drawing up national plans and implementing them effectively, continuity is important. Therefore, developing the next generation of thought leaders is vital. On Monday, the first day of the Government Meetings, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, was joined by other senior UAE leaders at the graduation ceremony of the first cohort of young Emiratis to take part in the country’s Nafis Leadership Programme. Although this was created to help prepare young Emirati talent by developing their professional skills in line with the National Employment Strategy 2031, such experience adds to the country’s knowledge pool and will inform future UAE policy in an unpredictable world.

On the other side of town, another gathering was taking place that also wrestled with important issues that will affect this generation and the next. Adipec, the world’s biggest energy event, heard from Russell Hardy, chief executive of major energy trader Vitol, who told attendees that global oil demand may peak within the next 10 years, driven by increased consumption in developing nations that will offset declines in advanced economies. The caveat here is that, as Mr Hardy made clear, similar claims were made five years ago.

The challenges facing the UAE are complex – and the answers to them must be informed and nuanced

As we have just seen in America, predictions can be a tricky business. The International Energy Agency forecasts that global oil demand could peak around 2030, with a gradual decline thereafter. Goldman Sachs estimates that oil demand may peak around 2034, followed by a plateau rather than a sharp decline. But all the above scenarios highlight the importance of a managed transition to renewable forms of energy and transport, not drastic measures that would leave developing nations short of energy.

Given the clear effects of global warming – the floods seen recently in Spain are a grim reminder of our changing climate – this transition must be one that aligns with the kind of targets outlined at Cop28 in Dubai last year and that will be enhanced when Cop29 begins in Baku next week.

The opportunities and challenges of the 21st century are complex – and the answers to them must be informed and nuanced. For Abu Dhabi to host simultaneous governance and energy policy meetings shows that the capital is a hot spot for bringing together ministers, energy experts, influential private sector figures and the next generation of local leadership talent. This knowledge bank will be essential for the changing times that lie ahead.

The biog

From: Upper Egypt

Age: 78

Family: a daughter in Egypt; a son in Dubai and his wife, Nabila

Favourite Abu Dhabi activity: walking near to Emirates Palace

Favourite building in Abu Dhabi: Emirates Palace

In numbers

Number of Chinese tourists coming to UAE in 2017 was... 1.3m

Alibaba’s new ‘Tech Town’  in Dubai is worth... $600m

China’s investment in the MIddle East in 2016 was... $29.5bn

The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn

Boost to the UAE economy of 5G connectivity will be... $269bn 

Who has been sanctioned?

Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.

Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.

Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.

Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.

Director: Romany Saad
Starring: Mirfat Amin, Boumi Fouad and Tariq Al Ibyari

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

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.

SCHEDULE

6.30pm Maiden Dh165,000 (Dirt) 1,400m
7.05pm: Handicap Dh170,000 (D) 1,600m
7.40pm: Maiden Dh165,000 (D) 1,600m
8.15pm: Handicap Dh210,000 (D) 1,200m
8.50pm: Handicap Dh210,000 (D) 2,000m
9.25pm:Handicap Dh185,000 (D) 1,400m
 
Amith's predicted winners:
6.30pm: Down On Da Bayou
7.05pm: Etisalat
7.40pm: Mulfit
8.15pm: Pennsylvania Dutch
8.50pm: Mudallel
9.25pm: Midnight Sands

While you're here
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Stree

Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
Cast: Rajkummar Rao, Shraddha Kapoor, Pankaj Tripathi, Aparshakti Khurana, Abhishek Banerjee
Rating: 3.5

UAE currency: the story behind the money in your pockets
From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

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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.
UAE currency: the story behind the money in your pockets
The specs

Engine: 4.0-litre V8 twin-turbocharged and three electric motors

Power: Combined output 920hp

Torque: 730Nm at 4,000-7,000rpm

Transmission: 8-speed dual-clutch automatic

Fuel consumption: 11.2L/100km

On sale: Now, deliveries expected later in 2025

Price: expected to start at Dh1,432,000

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Updated: November 11, 2024, 5:15 PM`