
Best photos of February 27: F1 in Bahrain to Academy Awards preparations
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
Dubai's savings retirement scheme for foreign employees working in the emirate's government and public sector came into effect in 2022.
National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
'It will allow real-time responding for emergency cases,' said Khaldoon Al Daraji, first environment safety officer at the municipality.
'We're in a good position except for the cases that are out of our hands, such as sandstorms.
'Sandstorms are our main concern because the UAE is just a receiver.
'The hotspots are Iran, Saudi Arabia and southern Iraq, but we're working hard with the region to reduce the cycle of sandstorm generation.'
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
'There are 25 stations in total,' Mr Al Daraji said.
'We added new technology and equipment used for the first time for the detection of heavy metals.
'A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.'
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
BMW X7 xDrive 50i
Engine: 4.4-litre V8
Transmission: Eight-speed Steptronic transmission
Power: 462hp
Torque: 650Nm
Price: Dh600,000
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EEric%20Barbier%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EYoussef%20Hajdi%2C%20Nadia%20Benzakour%2C%20Yasser%20Drief%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates. Research equivalent Airbnb homes in your location to ensure competitiveness. Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty. Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night. Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.
Date started: March 2013
Founder: Hussam Hammo
Based: Amman, Jordan
Employees: 55
Funding: $6m
Funders: Wamda Capital, Modern Electronics (part of Al Falaisah Group) and North Base Media
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
Updated: February 27, 2025, 1:33 PM
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Arabian Business
31 minutes ago
- Arabian Business
Analysis: UAE's massive AI investment could redefine its economic future
The United Arab Emirates is betting heavily on artificial intelligence as part of a sweeping economic transformation plan, signing multibillion-dollar technology deals and launching a landmark AI partnership with the United States amid growing global uncertainty. and a broader $1.4 trillion investment commitment over the next decade, underscoring the UAE's intent to anchor its non-oil economy in advanced technologies, including AI, semiconductors and cloud computing. Central to the initiative is the newly announced US-UAE AI Acceleration Partnership, aimed at deepening bilateral cooperation on artificial intelligence and related infrastructure. As part of the effort, the UAE secured a deal to import up to 500,000 Nvidia H100 chips annually, a cornerstone component in generative AI systems. 'Bilateral trade talks focused on artificial intelligence, advanced technologies, and semiconductors, culminating in the launch of the US-UAE AI Acceleration Partnership,' said Vijay Valecha, Chief Investment Officer at Century Financial. The Gulf nation also plans to invest in major U.S. AI firms including OpenAI and xAI, while Abu Dhabi-based Group 42 will build a 5-gigawatt AI data centre, set to become the largest of its kind outside the United States. Diversification drive The AI push forms part of a broader strategy to diversify the UAE economy away from hydrocarbons. Non-oil sectors accounted for 75 per cent of GDP in the first nine months of 2024, according to the UAE Ministry of Economy, with the non-oil economy expanding 4.5 per cent, outpacing overall GDP growth of 3.8 per cent. 'The UAE's projected 4.5 per cent growth in 2025 stands in sharp contrast to a global outlook marked by mounting risks and downward revisions,' Osama Al Saifi, Managing Director for MENA at Traze, told Arabian Business. 'This divergence is largely explained by the UAE's strong performance in non-oil sectors, supported by expansion in tourism, transport, construction, and financial services, as well as sustained momentum in foreign direct investment and trade.' The International Monetary Fund expects the UAE's economy to grow by 4 per cent in 2025 and 5 per cent in 2026, making it the fastest-growing economy in the Gulf Cooperation Council. In contrast, global trade growth is forecast to slow to 1.7 per cent this year, with a possible recession in the U.S. or Europe still looming, according to analysts at JPMorgan and Fitch. Hedge against external shocks The timing of the UAE's AI investment spree coincides with a deteriorating global economic outlook. While a potential recession in major Western economies would weigh on oil demand and trade, analysts say the UAE is better positioned than most to weather external shocks. 'The region is better equipped than in previous cycles, though not entirely shielded,' Al Saifi said. 'A recession in the U.S. or Europe would likely exert downward pressure on global oil demand and weigh on fiscal performance. Nevertheless, substantial sovereign wealth assets, contained inflation, and firm domestic demand provide a degree of protection.' The UAE's inflation rate is expected to remain stable at around 2 per cent in 2025, with consumer spending forecast to expand 4.3 per cent, supported by easing interest rates and robust domestic demand, Al Saifi added. 'A mild recession in the U.S. and parts of Europe during the second half of the year is increasingly likely, as the delayed effects of tight monetary policy, persistent inflation, and weakening manufacturing data converge,' Hamza Dweik, Head of Trading at Saxo Bank MENA, told Arabian Business. 'However, the UAE's strong macroeconomic fundamentals, active IPO pipeline, and diversified revenue streams position it as a relative safe haven in the global landscape.' Despite global volatility, UAE financial markets have shown resilience. Dubai F inancial Market (DFM) welcomed 19,366 new investors in Q1 2025, of whom 86 per cent were foreign nationals. Trading activity surged, with average daily trading value reaching AED 663 million, up 67 per cent year-on-year, according to Century Financial. UAE equity valuations also remain below historical averages. The DFMGI index trades at a trailing P/E of 9.5x, about 16.5 per cent below its five-year average, while the ADSMI index is down 16.3 per cent from its historical norm. 'The indices appear undervalued considering the UAE's solid fundamentals and growth trajectory,' said Valecha. 'With over 74 per cent of GDP coming from non-oil sectors closely linked to market performance, equity markets deserve a better valuation.' Strategic positioning The UAE's AI ambitions are not solely economic. Investments in U.S. data infrastructure, semiconductor supply chains, and critical mineral projects are helping strengthen bilateral strategic ties. Abu Dhabi's $25 billion partnership with Energy Capital Partners, and a $60 billion energy cooperation framework with ExxonMobil and Occidental Petroleum, indicate a multipronged strategy that blends AI leadership with industrial leverage. 'Technology will be central to the UAE's next growth cycle – AI, green innovation, digital finance – these are the sectors that will help insulate the economy from external volatility,' Al Saifi said. PwC estimates the AI sector could contribute over $320 billion to the Middle East economy by 2030, with the UAE positioned to capture the lion's share through early infrastructure deployment, regulatory reform and foreign investment attraction. 'Sectors with strong global linkages – such as logistics, real estate (particularly off-plan investment-driven projects), and non-oil exports like aluminum and petrochemicals – are most vulnerable to a potential U.S. recession,' Dweik said. He added that sectors like tourism, hospitality, and sovereign-backed infrastructure projects are expected to remain resilient, supported by 'robust domestic demand and long-term strategic initiatives.' 'The projected non-oil GDP growth of 4.6 per cent in 2025 indicates the ongoing success of diversification and structural reform initiatives,' Valecha added. Dweik echoed his sentiment, adding that diversification remains essential in the current economic environment. 'Investors should consider blending traditional and alternative assets, such as sukuk, infrastructure, and private equity, while also diversifying geographically… Allocating capital across resilient sectors like healthcare, technology, and tourism will help regional investors navigate uncertainty.'


Zawya
an hour ago
- Zawya
Mideast Stocks: Major Gulf markets gain on progress in US-China trade talks
Major stock markets in the Gulf rose in early trade on Wednesday in line with Asian shares, on signs of progress in trade talks between the U.S. and China. Top officials of both the countries said on Tuesday they had agreed on a framework to get their trade truce back on track and remove China's export restrictions on rare earths. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5%. Saudi Arabia's benchmark index - which traded after a four session break - advanced 1.2%, led by a 1.7% rise in Al Rajhi Bank and a 1.6% increase in oil giant Saudi Aramco. The kingdom's crude oil supply to China is set to dip slightly in July, Reuters reported on Tuesday, citing trade sources, but still strong for a third straight month as the OPEC kingpin regains its market share supplying the world's top crude importer. Dubai's main share index added 0.1%, helped by a 1.1% rise in blue-chip developer Emaar Properties. In Abu Dhabi, the index inched 0.1% higher, with ADNOC Gas climbing 1.2%. ADNOC Gas said on Tuesday it had taken a final investment decision on the first phase of its Rich Gas Development (RGD) Project, awarding $5 billion in contracts to expand and improve efficiency at the project. Elsewhere, chemicals maker Borouge gained 0.6% after awarding a $531 million contract to ADNOC Logistics & Services for streamlining maritime deliveries. Separately, the rush of financial firms setting up in Abu Dhabi to tap the oil-rich emirate's wealth funds and Middle East markets will continue at pace, the official in charge of expanding its financial hub has predicted. The Qatari index rose 0.4%, led by a 0.4% increase in the Gulf's biggest lender Qatar National Bank.


Arabian Post
an hour ago
- Arabian Post
African MBAs Surge as US Retains Global Appeal
Applications from African professionals to American MBA programmes are climbing sharply, driven by robust scholarship support, evolving diversity strategies, and a post-pandemic appetite for international career mobility. African candidates are finding new momentum in American business schools thanks to generous funding sources such as the TY Danjuma MBA Scholarship, established in 2011. The fund supports admissions at top‑ranked global institutions, awarding 64 students from nations including Nigeria, Ghana and South Africa as of June 2025. Beyond philanthropy, several US business schools have intensified recruitment of African talent through partnerships with organisations like the Consortium for Graduate Study in Management, dedicated to broadening minority representation. Insiders at leading MBA consultancies confirm growing African interest in US programmes. Scott Edinburgh, an established Boston‑based admissions consultant, attributes this surge to the unparalleled career placement and expansive networking opportunities American MBAs provide. Demand is intensifying despite global shifts in immigration policies. ADVERTISEMENT This trend coincides with a broader graduate‑level movement. Data from AACSB‑accredited schools shows master's level international enrolment, including MBA participation, grew by 30 percent from 2018–19 to 2023–24. Notably, Africa recorded a 53 percent rise in enrolment across master's programmes during that period. Admissions surveys indicate talent from Africa is drawn not just by reputational prestige but also by programmes tailored to their ambitions. Institutions are proactively wooing African candidates with targeted initiatives. Several top MBAs have launched diversity recruitment drives, some in alliance with global equity‑focused organisations, while others offer Africa‑specific case studies and entrepreneurial encouragement. The success of applicants from Africa and underrepresented groups in general is being amplified by post‑affirmative action efforts. Certain programmes have posted increases in minority enrollment, with schools such as UC Berkeley Haas and University of Michigan Ross reporting near‑doubling of underrepresented minority intakes. That momentum extends to African aspirants, especially as institutions emphasise real‑world impact of graduates from diverse backgrounds. However, this enthusiasm coincides with challenges. Admission cohorts prefer candidates in their mid‑20s with approximately five years of work experience, and delaying application could hinder competitiveness. African candidates must act swiftly, aligning with Round 1 application cycles, as advised by admissions consultants like Ibonye, an MTN strategist based in Lagos. Still, visa uncertainties and geopolitical tensions persist. For instance, the US State Department has announced stricter scrutiny of Chinese applicants, though African students have yet to face similar restrictions. In response, universities continue reinforcing support structures, offering legal advice, career services, and alumni networks to ensure smooth integration. Funding remains a pivotal factor. Beyond institutional aid, African-focused scholarships such as the TY Danjuma fund—which covers tuition and living expenses for students admitted to Financial Times–ranked top‑10 schools—play a key role. Prospective students are encouraged to demonstrate financial need and secure early confirmation of funding. There is also mounting emphasis on entrepreneurship. Business schools are increasingly incorporating African‑relevant case studies, and some are including incubator programmes aimed at scaling African SMEs. Experts suggest this strengthens curricula and fosters durable global impact. Taken together, the rise of African applications to American MBA programmes signifies a strategic realignment. With strong financial backing, supportive institutional networks, and a bold recruitment drive, these candidates are well‑positioned to enter competitive cohorts. Meanwhile, schools welcome these professionals for their potential to energise diverse learning environments and contribute new perspectives to global leadership. As the 2025–26 admissions cycle unfolds, Africa is not merely keeping pace—it is reshaping the global MBA landscape, leveraging opportunity and ambition in equal measure.