UK Prime Minister Rishi Sunak. Getty
UK Prime Minister Rishi Sunak. Getty
UK Prime Minister Rishi Sunak. Getty
UK Prime Minister Rishi Sunak. Getty

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Rishi Sunak unveils plan for UK to be science and technology 'superpower' by 2030

Initial projects include a £250 million investment in AI, quantum technology and engineering biology

Soraya Ebrahimi
Soraya Ebrahimi

March 06, 2023

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British Prime Minister Rishi Sunak has announced a plan to make the UK a science and technology “superpower” by the end of the decade.

Mr Sunak hopes a science and technology framework will place the UK at the forefront of new technology including artificial intelligence and supercomputing.

His government has promised funding of more than £360 million ($433 million).

The move has been one of the central aims of Mr Sunak’s premiership, with Michelle Donelan recently appointed to lead the new Department for Science, Innovation and Technology.

Mr Sunak warned on Monday that the UK “can only stay ahead with focus, dynamism and leadership”, as the 10-point plan promised to use post-Brexit freedom for “pro-innovation regulations” and develop a “pro-innovation culture” in the public sector.

The government also announced it would again extend the funding guarantee, this time until June, for successful applicants to the EU’s Horizon programme.

There have been hopes that Mr Sunak’s new deal on the Northern Ireland Protocol could pave the way for the UK to rejoin the €100 billion ($106.2 billion) research scheme.

Rishi Sunak's first 100 days as Prime Minister - in pictures

Rishi Sunak has been British Prime Minister for 100 days. Here The National looks back at his time in No 10 Downing Street. Getty Images
Rishi Sunak has been British Prime Minister for 100 days. Here The National looks back at his time in No 10 Downing Street. Getty Images
Mr Sunak after being announced as winner of the Conservative Party leadership contest on October 24. Getty Images
Mr Sunak after being announced as winner of the Conservative Party leadership contest on October 24. Getty Images
King Charles III welcomes Mr Sunak to Buckingham Palace where he invited him to become Prime Minister and form a new government. Getty Images
King Charles III welcomes Mr Sunak to Buckingham Palace where he invited him to become Prime Minister and form a new government. Getty Images
The new Prime Minister makes a speech outside No 10. Getty Images
The new Prime Minister makes a speech outside No 10. Getty Images
Mr Sunak arrives at No 10 for the first time as Prime Minister. Photo: Simon Walker/ No 10 Downing Street
Mr Sunak arrives at No 10 for the first time as Prime Minister. Photo: Simon Walker/ No 10 Downing Street
Mr Sunak holds his first cabinet meeting. Getty Images
Mr Sunak holds his first cabinet meeting. Getty Images
Hosting a reception to celebrate Diwali at No 10. Photo: Simon Walker / No 10 Downing Street
Hosting a reception to celebrate Diwali at No 10. Photo: Simon Walker / No 10 Downing Street
A visit to Croydon University Hospital, south London. Getty Images
A visit to Croydon University Hospital, south London. Getty Images
Mr Sunak and his wife Akshata Murty wearing poppies, with a special poppy collar for their pet Labrador Nova. Photo: Simon Walker / No 10 Downing Street
Mr Sunak and his wife Akshata Murty wearing poppies, with a special poppy collar for their pet Labrador Nova. Photo: Simon Walker / No 10 Downing Street
The Prime Minister with Chancellor Jeremy Hunt in the Cabinet Room at No 10. Photo: Simon Walker / No 10 Downing Street
The Prime Minister with Chancellor Jeremy Hunt in the Cabinet Room at No 10. Photo: Simon Walker / No 10 Downing Street
King Charles, Mr Sunak, fashion designer Stella McCartney and US climate envoy John Kerry at Buckingham Palace before Cop27. Getty Images
King Charles, Mr Sunak, fashion designer Stella McCartney and US climate envoy John Kerry at Buckingham Palace before Cop27. Getty Images
French President Emmanuel Macron and Mr Sunak at Cop27 in Sharm El Sheikh, Egypt. Getty Images
French President Emmanuel Macron and Mr Sunak at Cop27 in Sharm El Sheikh, Egypt. Getty Images
Mr Sunak during a call to Ukraine President Volodymyr Zelenskyy from his office. Photo: Simon Dawson / No 10 Downing Street
Mr Sunak during a call to Ukraine President Volodymyr Zelenskyy from his office. Photo: Simon Dawson / No 10 Downing Street
On Remembrance Sunday at the Cenotaph in London. Photo: Simon Walker / No 10 Downing Street
On Remembrance Sunday at the Cenotaph in London. Photo: Simon Walker / No 10 Downing Street
Mr Sunak with journalists on a flight to Bali and the G20 meeting. Photo: Simon Walker / No 10 Downing Street
Mr Sunak with journalists on a flight to Bali and the G20 meeting. Photo: Simon Walker / No 10 Downing Street
With Saudi Arabia's Crown Prince Mohammed bin Salman during a meeting at the G20 in Nusa Dua, Indonesia. Getty Images
With Saudi Arabia's Crown Prince Mohammed bin Salman during a meeting at the G20 in Nusa Dua, Indonesia. Getty Images
Mr Sunak with US President Joe Biden at the G20 summit. Getty Images
Mr Sunak with US President Joe Biden at the G20 summit. Getty Images
Mr Sunak and Ukrainian President Volodymyr Zelenskyy. Getty Images
Mr Sunak and Ukrainian President Volodymyr Zelenskyy. Getty Images
Mr Sunak meets rescue teams during his visit to Ukraine. Photo: No 10 Downing Street
Mr Sunak meets rescue teams during his visit to Ukraine. Photo: No 10 Downing Street
Mr Sunak and his wife outside No 10 as the Christmas lights are turned on. Getty Images
Mr Sunak and his wife outside No 10 as the Christmas lights are turned on. Getty Images
Mr Sunak joins youth footballers from Wales and England to watch the World Cup match between the two nations. Photo: Simon Walker / No 10 Downing Street
Mr Sunak joins youth footballers from Wales and England to watch the World Cup match between the two nations. Photo: Simon Walker / No 10 Downing Street
The Prime Minister reading congratulations cards from members of the public after being appointed. Photo: Simon Dawson / No 10 Downing Street
The Prime Minister reading congratulations cards from members of the public after being appointed. Photo: Simon Dawson / No 10 Downing Street
On a visit to RAF Coningsby in Lincolnshire after the announcement that Britain will develop next-generation fighter jets with Italy and Japan. Getty Images
On a visit to RAF Coningsby in Lincolnshire after the announcement that Britain will develop next-generation fighter jets with Italy and Japan. Getty Images
Mr Sunak and Estonian Prime Minister Kaja Kallas on a plane to Tallinn. Getty Images
Mr Sunak and Estonian Prime Minister Kaja Kallas on a plane to Tallinn. Getty Images
The Prime Minister with troops at the Tapa military base, Estonia. Getty Images
The Prime Minister with troops at the Tapa military base, Estonia. Getty Images
The photo on Mr Sunak's official Christmas card. Photo: Simon Walker / No 10 Downing Street
The photo on Mr Sunak's official Christmas card. Photo: Simon Walker / No 10 Downing Street
Mr Sunak prepares and serves breakfast on a visit to The Passage homeless shelter in London just before Christmas. Photo: Simon Dawson / No 10 Downing Street
Mr Sunak prepares and serves breakfast on a visit to The Passage homeless shelter in London just before Christmas. Photo: Simon Dawson / No 10 Downing Street
Making his first major domestic speech of the year. Getty Images
Making his first major domestic speech of the year. Getty Images
On a visit to Harris Academy in Battersea, London. Getty Images
On a visit to Harris Academy in Battersea, London. Getty Images
Mr Sunak and Japan's Prime Minister Fumio Kishida arrive at the Tower of London for a meeting. Getty Images
Mr Sunak and Japan's Prime Minister Fumio Kishida arrive at the Tower of London for a meeting. Getty Images
Toasting marshmallows on a visit to the Sea Scouts community group in Muirtown near Inverness. Getty Images
Toasting marshmallows on a visit to the Sea Scouts community group in Muirtown near Inverness. Getty Images
A Q&A session at The Platform in Morecambe, Lancashire, after a community visit to the Eden Project North. Getty Images
A Q&A session at The Platform in Morecambe, Lancashire, after a community visit to the Eden Project North. Getty Images
Mr Sunak and Mr Hunt at Accrington Market Hall with local MP Sara Britcliffe to announce projects under the levelling-up fund. Getty Images
Mr Sunak and Mr Hunt at Accrington Market Hall with local MP Sara Britcliffe to announce projects under the levelling-up fund. Getty Images

Leading scientists last month criticised the Treasury for taking back £1.6 billion it had allocated for research and which had been set aside for UK involvement in Horizon.

“Trailblazing science and innovation have been in our DNA for decades," Mr Sunak said on Sunday.

“The more we innovate, the more we can grow our economy, create the high-paid jobs of the future, protect our security and improve lives across the country.”

Included in the framework are plans to boost private and public investment in research and development, and boosting innovation through public sector procurement.

It also pledges to ensure that researchers have access to the “best physical and digital infrastructure” for research and development, to attract the best talent to Britain.

Ms Donelan said innovation and technology “hold the keys” to raising productivity, increasing wages and reducing energy prices.

Rishi Sunak through the years - in pictures

British Prime Minister Rishi Sunak announces July 4 as the date for the 2024 general election at No 10 Downing Street. Here, The National looks back at his political career. Getty Images
British Prime Minister Rishi Sunak announces July 4 as the date for the 2024 general election at No 10 Downing Street. Here, The National looks back at his political career. Getty Images
Mr Sunak during local election campaigning in Teesside in May 2024. Getty Images
Mr Sunak during local election campaigning in Teesside in May 2024. Getty Images
Mr Sunak presents cupcakes to journalists on board a plane on the way to Warsaw in April 2024. Getty Images
Mr Sunak presents cupcakes to journalists on board a plane on the way to Warsaw in April 2024. Getty Images
Mr Sunak during a press conference in Downing Street in January after the Safety of Rwanda Bill passed its third reading in the House of Commons. Getty Images
Mr Sunak during a press conference in Downing Street in January after the Safety of Rwanda Bill passed its third reading in the House of Commons. Getty Images
Being applauded after his speech at the Conservative Party conference in October 2023. Getty Images
Being applauded after his speech at the Conservative Party conference in October 2023. Getty Images
Looking pensive alongside then-home secretary Suella Braverman at No 10 in October 2023. She didn't last much longer in the cabinet. Getty Images
Looking pensive alongside then-home secretary Suella Braverman at No 10 in October 2023. She didn't last much longer in the cabinet. Getty Images
Mr Sunak sits in an old Special Branch police vehicle which was used to transport former prime minister Margaret Thatcher, in July 2023. Getty Images
Mr Sunak sits in an old Special Branch police vehicle which was used to transport former prime minister Margaret Thatcher, in July 2023. Getty Images
On board Border Agency cutter HMC Seeker during a visit to Dover in June 2023. Getty Images
On board Border Agency cutter HMC Seeker during a visit to Dover in June 2023. Getty Images
Mr Sunak alongside European Commission President Ursula von der Leyen, Canada's Prime Minister Justin Trudeau, US President Joe Biden, French President Emmanuel Macron and German Chancellor Olaf Scholz during the G7 Summit in May 2023. Getty Images
Mr Sunak alongside European Commission President Ursula von der Leyen, Canada's Prime Minister Justin Trudeau, US President Joe Biden, French President Emmanuel Macron and German Chancellor Olaf Scholz during the G7 Summit in May 2023. Getty Images
Mr Sunak and his wife Akshata Murty arriving in Japan ahead of the G7 Summit in May 2023. Getty Images
Mr Sunak and his wife Akshata Murty arriving in Japan ahead of the G7 Summit in May 2023. Getty Images
Mr Sunak and Chancellor Jeremy Hunt sending a message at Accrington Market Hall in January 2023. Getty Images
Mr Sunak and Chancellor Jeremy Hunt sending a message at Accrington Market Hall in January 2023. Getty Images
Mr Sunak and Ukrainian President Volodymyr Zelenskyy meet in Ukraine's capital Kyiv in November 2022. Getty Images
Mr Sunak and Ukrainian President Volodymyr Zelenskyy meet in Ukraine's capital Kyiv in November 2022. Getty Images
King Charles III welcomes Mr Sunak during an audience at Buckingham Palace, where he invited the newly elected leader of the Conservative Party to become Prime Minister and form a new government in October 2022. Getty Images
King Charles III welcomes Mr Sunak during an audience at Buckingham Palace, where he invited the newly elected leader of the Conservative Party to become Prime Minister and form a new government in October 2022. Getty Images
Mr Sunak makes a statement outside No 10 in October 2022 after taking office. Getty Images
Mr Sunak makes a statement outside No 10 in October 2022 after taking office. Getty Images
Mr Sunak arrives inside Number 10 in October 2022. Photo: Simon Walker/ No 10 Downing Street
Mr Sunak arrives inside Number 10 in October 2022. Photo: Simon Walker/ No 10 Downing Street
Greeted by colleagues at Conservative Party HQ after having been announced winner of the leadership contest in October 2022. Getty Images
Greeted by colleagues at Conservative Party HQ after having been announced winner of the leadership contest in October 2022. Getty Images
Mr Sunak at Westminster Hall in London following the death of Queen Elizabeth II in September 2022. PA
Mr Sunak at Westminster Hall in London following the death of Queen Elizabeth II in September 2022. PA
Mr Sunak visits his family's old business, Bassett Pharmacy, on the campaign trail in August 2022. Getty Images
Mr Sunak visits his family's old business, Bassett Pharmacy, on the campaign trail in August 2022. Getty Images
Mr Sunak looks at an NLAW anti-tank launcher during a visit to the Thales Defence System plant in Belfast in August 2022. Getty Images
Mr Sunak looks at an NLAW anti-tank launcher during a visit to the Thales Defence System plant in Belfast in August 2022. Getty Images
At a hustings event in Exeter in August 2022. Getty Images
At a hustings event in Exeter in August 2022. Getty Images
Celebrates England's first goal as he watches the Women's Euro 2022 final in Salisbury in July 2022. Getty Images
Celebrates England's first goal as he watches the Women's Euro 2022 final in Salisbury in July 2022. Getty Images
Mr Sunak and Ms Truss take part in the BBC Leadership debate at Victoria Hall, Hanley, in July 2022. Getty Images
Mr Sunak and Ms Truss take part in the BBC Leadership debate at Victoria Hall, Hanley, in July 2022. Getty Images
With daughters Krisna and Anoushka and wife Akshata Murthy in July 2022. Getty Images
With daughters Krisna and Anoushka and wife Akshata Murthy in July 2022. Getty Images
Opening the Great Ayton Village Fete during the queen’s Platinum Jubilee celebrations in June 2022. Getty Images
Opening the Great Ayton Village Fete during the queen’s Platinum Jubilee celebrations in June 2022. Getty Images
Mr Sunak and Ms Murthy speak to then-Prince Charles at a British Asian Trust event in February 2022. Getty Images
Mr Sunak and Ms Murthy speak to then-Prince Charles at a British Asian Trust event in February 2022. Getty Images
Mr Sunak arrives at COP26 in Glasgow in November 2021 when he was chancellor. Getty Images
Mr Sunak arrives at COP26 in Glasgow in November 2021 when he was chancellor. Getty Images
Holding the budget box as he departs 11 Downing Street to deliver his Autumn Budget in October 2021. Getty Images
Holding the budget box as he departs 11 Downing Street to deliver his Autumn Budget in October 2021. Getty Images
At a press conference on the 2021 Budget in London in March 2021. Getty Images
At a press conference on the 2021 Budget in London in March 2021. Getty Images
With former prime minister Boris Johnson during a visit to PD Ports on the River Tees in March 2021. Getty Images
With former prime minister Boris Johnson during a visit to PD Ports on the River Tees in March 2021. Getty Images
Mr Sunak poses with the budget box at 11 Downing Street in March 2021. Getty Images
Mr Sunak poses with the budget box at 11 Downing Street in March 2021. Getty Images
Meeting staff back at work after being furloughed at Hamleys toy shop in London, December 2020. Photo: HM Treasury
Meeting staff back at work after being furloughed at Hamleys toy shop in London, December 2020. Photo: HM Treasury
Mr Sunak visits the Imperial Clinic Research Facility at Hammersmith Hospital, London, in November 2020. Getty Images
Mr Sunak visits the Imperial Clinic Research Facility at Hammersmith Hospital, London, in November 2020. Getty Images
Lighting a candle for Diwali on Downing Street, November 2020. Getty Images
Lighting a candle for Diwali on Downing Street, November 2020. Getty Images
Working on a speech in his flat above 11 Downing Street in November 2020. Photo: HM Treasury
Working on a speech in his flat above 11 Downing Street in November 2020. Photo: HM Treasury
Mr Johnson and Mr Sunak visit the headquarters of Octopus Energy in London in October 2020. Getty Images
Mr Johnson and Mr Sunak visit the headquarters of Octopus Energy in London in October 2020. Getty Images
With his 'Winter Economy Plan' outside 11 Downing Street in September 2020. AFP
With his 'Winter Economy Plan' outside 11 Downing Street in September 2020. AFP
Decorating a plate at Emma Bridgewater pottery in Stoke pottery in September 2020. Getty Images
Decorating a plate at Emma Bridgewater pottery in Stoke pottery in September 2020. Getty Images
Promoting 'eat out to help out' on the Isle of Bute, Scotland, in August 2020. Getty Images
Promoting 'eat out to help out' on the Isle of Bute, Scotland, in August 2020. Getty Images
A member of the public takes a selfie with Rishi Sunak during a visit to Scotland in August 2020. AFP
A member of the public takes a selfie with Rishi Sunak during a visit to Scotland in August 2020. AFP
Visiting a Wagamama restaurant in central London in July 2020. Photo: HM Treasury
Visiting a Wagamama restaurant in central London in July 2020. Photo: HM Treasury
Rishi Sunak visits a Pret A Manger in Westminster in July 2020. HM Treasury
Rishi Sunak visits a Pret A Manger in Westminster in July 2020. HM Treasury
With Mr Johnson at his first Cabinet meeting after a reshuffle at 10 Downing Street in February 2020. Getty Images
With Mr Johnson at his first Cabinet meeting after a reshuffle at 10 Downing Street in February 2020. Getty Images
Mr Sunak speaks during a general election debate in Cardiff in November 2019. Getty Images
Mr Sunak speaks during a general election debate in Cardiff in November 2019. Getty Images

“We are putting the full might of the British government and our private sector partners behind our push to become a scientific and technological superpower, because only through being world leaders in future industries like AI and quantum will we be able to improve the lives of every Briton,” she said.

The new plan is backed by an initial set of projects, including a £250 million investment in AI, quantum technology and engineering biology, as well as the publication of a new review of UK research by Sir Paul Nurse, director of the Francis Crick Institute.

“It is absolutely right, as the Prime Minister has said, that the future of the UK depends upon research, science and technology," Sir Paul said.

“Only by being a leading science nation can the UK drive a sustainable economy, increased productivity and generate societal benefits such as improved health care and protecting the environment.”

The specs

Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now

Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

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PROFILE OF STARZPLAY

Date started: 2014

Founders: Maaz Sheikh, Danny Bates

Based: Dubai, UAE

Sector: Entertainment/Streaming Video On Demand

Number of employees: 125

Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners

Zayed Sustainability Prize
The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
Killing of Qassem Suleimani
The%20specs
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MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Shooting Ghosts: A U.S. Marine, a Combat Photographer, and Their Journey Back from War by Thomas J. Brennan and Finbarr O’Reilly

Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

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Set-jetting on the Emerald Isle

Other shows filmed in Ireland include: Vikings (County Wicklow), The Fall (Belfast), Line of Duty (Belfast), Penny Dreadful (Dublin), Ripper Street (Dublin), Krypton (Belfast)

FROM%20THE%20ASHES
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Director: Jesse Armstrong

Rating: 3.5/5

War 2

Director: Ayan Mukerji

Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana

Rating: 2/5

Gran Gala del Calcio 2019 winners

Best Player: Cristiano Ronaldo (Juventus)
Best Coach: Gian Piero Gasperini (Atalanta)
Best Referee: Gianluca Rocchi
Best Goal: Fabio Quagliarella (Sampdoria vs Napoli)
Best Team: Atalanta​​​​​​​
Best XI: Samir Handanovic (Inter); Aleksandar Kolarov (Roma), Giorgio Chiellini (Juventus), Kalidou Koulibaly (Napoli), Joao Cancelo (Juventus*); Miralem Pjanic (Juventus), Josip Ilicic (Atalanta), Nicolo Barella (Cagliari*); Fabio Quagliarella (Sampdoria), Cristiano Ronaldo (Juventus), Duvan Zapata (Atalanta)
Serie B Best Young Player: Sandro Tonali (Brescia)
Best Women’s Goal: Thaisa (Milan vs Juventus)
Best Women’s Player: Manuela Giugliano (Milan)
Best Women’s XI: Laura Giuliani (Milan); Alia Guagni (Fiorentina), Sara Gama (Juventus), Cecilia Salvai (Juventus), Elisa Bartoli (Roma); Aurora Galli (Juventus), Manuela Giugliano (Roma), Valentina Cernoia (Juventus); Valentina Giacinti (Milan), Ilaria Mauro (Fiorentina), Barbara Bonansea (Juventus)

Federer's 11 Wimbledon finals

2003 Beat Mark Philippoussis

2004 Beat Andy Roddick

2005 Beat Andy Roddick

2006 Beat Rafael Nadal

2007 Beat Rafael Nadal

2008 Lost to Rafael Nadal

2009 Beat Andy Roddick

2012 Beat Andy Murray

2014 Lost to Novak Djokovic

2015 Lost to Novak Djokovic

2017 Beat Marin Cilic

More from Neighbourhood Watch:
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The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

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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

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).

What is the definition of an SME?

SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.

A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors. 

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Ms Yang's top tips for parents new to the UAE
  1. Join parent networks
  2. Look beyond school fees
  3. Keep an open mind
EA Sports FC 26

Publisher: EA Sports

Consoles: PC, PlayStation 4/5, Xbox Series X/S

Rating: 3/5

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Updated: March 06, 2023, 12:01 AM`
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