Mohammed bin Rashid, Vice President and Ruler of Dubai, at a UAE Cabinet meeting on Sunday. All photos courtesy Dubai Media Office
Mohammed bin Rashid, Vice President and Ruler of Dubai, at a UAE Cabinet meeting on Sunday. All photos courtesy Dubai Media Office
The meeting discussed several key policy developments
The meeting discussed several key policy developments
And reviewed the country's global competitive standing
And reviewed the country's global competitive standing
The UAE does not have a development option other than to excel and continue. Regressing is not an option, said Sheikh Mohammed
The UAE does not have a development option other than to excel and continue. Regressing is not an option, said Sheikh Mohammed
Sheikh Mohammed said the meeting approved federal structures for the ministries of Economy, Culture, Energy and Industry and approved new laws to develop private education in the country
Sheikh Mohammed said the meeting approved federal structures for the ministries of Economy, Culture, Energy and Industry and approved new laws to develop private education in the country
Sheikh Mohammed said the UAE ranked in the 10 most competitive countries globally in 300 international indicators
Sheikh Mohammed said the UAE ranked in the 10 most competitive countries globally in 300 international indicators
A set of economic agreements with Egypt, Chile, Zambia and others were agreed
A set of economic agreements with Egypt, Chile, Zambia and others were agreed
Sheikh Mohammed said 2020 was an exceptional year despite the challenges of Covid-19 and marked the year of the Mars mission, of nuclear energy and of peace and international competitiveness
Sheikh Mohammed said 2020 was an exceptional year despite the challenges of Covid-19 and marked the year of the Mars mission, of nuclear energy and of peace and international competitiveness

Government

Sheikh Mohammed reviews UAE’s performance in global rankings

The report presented by the Federal Competitiveness and Statistics Authority said the UAE ranked first globally on 121 parameters

The National

September 27, 2020

  • English
  • Arabic

Sheikh Mohammed bin Rashid reviewed the UAE’s performance in important global rankings on Sunday during a Cabinet meeting.

The Vice President and Ruler of Dubai said the country’s rise in such rankings is due to the government’s performance and its efforts in improving the quality of life for its citizens and residents.

The Cabinet meeting was held at Qasr Al Watan in Abu Dhabi where ministers reviewed a report on the performance of the country in important global rankings.

The report presented by the Federal Competitiveness and Statistics Authority said that the UAE ranked first globally on 121 parameters, first in the Arab world on 479 competitive indicators, and among the top ten countries on 314 indicators.

The Cabinet approved four new organisational structures for the Ministry of Economy, Ministry of Culture and Youth, Ministry of Industry and Advanced Technology, and Ministry of Energy and Infrastructure.

A federal law that will help raise the quality of education and increase healthy competition between private schools was also approved.

The law will also regulate the licensing of private schools and keep a tab on their curriculum and the safety of pupils.

The Cabinet also approved federal laws on the amendment of the penal code (Criminal Law), the Commercial Transactions Law, the Securities and Commodities Law, the Insurance Law, and the organisation of the telecommunications sector law.

It approved the executive regulations of the federal healthcare law and approved agreements to avoid double taxation between the UAE and several countries such as Chile, Egypt and Zambia.

Ministers also approved an agreement with Zambia to boost bilateral investments.

The Cabinet also reviewed financial statements of the Emirates Development Bank and the report of the external auditor for the fiscal year 2019.

While you're here
Try out the test yourself

Q1 Suppose you had $100 in a savings account and the interest rate was 2 per cent per year. After five years, how much do you think you would have in the account if you left the money to grow?
a) More than $102
b) Exactly $102
c) Less than $102
d) Do not know
e) Refuse to answer

Q2 Imagine that the interest rate on your savings account was 1 per cent per year and inflation was 2 per cent per year. After one year, how much would you be able to buy with the money in this account?
a) More than today
b) Exactly the same as today
c) Less than today
d) Do not know
e) Refuse to answer

Q4 Do you think that the following statement is true or false? “Buying a single company stock usually provides a safer return than a stock mutual fund.”
a) True
b) False
d) Do not know
e) Refuse to answer

The “Big Three” financial literacy questions were created by Professors Annamaria Lusardi of the George Washington School of Business and Olivia Mitchell, of the Wharton School of the University of Pennsylvania. 

Answers: Q1 More than $102 (compound interest). Q2 Less than today (inflation). Q3 False (diversification).

While you're here
The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Company Profile:

Name: The Protein Bakeshop

Date of start: 2013

Founders: Rashi Chowdhary and Saad Umerani

Based: Dubai

Size, number of employees: 12

Funding/investors:  $400,000 (2018) 

Kareem Shaheen on Canada
INVESTMENT PLEDGES

Cartlow: $13.4m

Rabbitmart: $14m

Smileneo: $5.8m

Soum: $4m

imVentures: $100m

Plug and Play: $25m

UAE