Earlier this year, Idris Elba teamed up with the Abu Dhabi Investment Office to promote entrepreneurship, partnerships and investments across Africa. AP
Earlier this year, Idris Elba teamed up with the Abu Dhabi Investment Office to promote entrepreneurship, partnerships and investments across Africa. AP
Earlier this year, Idris Elba teamed up with the Abu Dhabi Investment Office to promote entrepreneurship, partnerships and investments across Africa. AP
Earlier this year, Idris Elba teamed up with the Abu Dhabi Investment Office to promote entrepreneurship, partnerships and investments across Africa. AP

UAE unveils campaign to promote investments in country


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The UAE has unveiled its campaign to attract Dh550 billion ($150 billion) in foreign direct investment by 2031 and eventually reach Dh1 trillion by 2051.

The Emirates attracted $30.7 billion worth of FDI inflows last year, compared with $22.7 billion in 2022, an annual growth of 35 per cent, the UN Conference on Trade and Development said in its 2024 World Investment Report.

FDI outflows from the country stood at $22.3 billion, compared with $24.8 billion in 2022, it added.

The UAE is also ranked the second-largest market after the US for greenfield foreign direct investment, according to the UN. Greenfield FDI involves a foreign entity establishing operations in another country by building new facilities from the ground up.

As part of its push to show the world the UAE's investment opportunities, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, shared a video titled Bring Your Impossible on social media on Monday, starring British actor Idris Elba.

"You are not crazy," Elba says in the clip, which lasts a little over a minute. "The world is changing, but you have a dream. A dream that people tell you is a waste of time. A dream that is impossible."

The video then cuts to a model whose world twists, turns and flips, similar to scenes in Christopher Nolan's blockbuster Inception.

"So here is a truth: there is a different path," Elba's voice continues. "A reality where dreams are not just chased, but exceeded. A place where we were told it was impossible until we made it possible. A place where you can imagine your future and create it."

He then ends with the tagline: "Bring your impossible to the Emirates."

Elba, who was one of the speakers at the World Government Summit in Dubai last year, is the latest in a long line of Hollywood and Bollywood celebrities to help promote the UAE and its investment opportunities.

In March, his investment company, the Akuna Group, teamed up with the Abu Dhabi Investment Office to promote entrepreneurship, partnerships and investments across Africa.

And he has the business credentials. Besides his acting and music career, he runs several companies including Sherbro Alliance Partners, which is working to build a sustainable city in Sherbro Island, Sierra Leone.

Along with his wife, Sabrina Dhowre, Elba also runs S’able Labs, which makes sustainably sourced skincare products. The couple are also UN goodwill ambassadors.

The partnership also brought Elba back to UAE as a speaker at the Impact Summit, organised by the UAE office and Abu Dhabi’s global tech ecosystem Hub71.

Manchester United v Liverpool

Premier League, kick off 7.30pm (UAE)

MATCH INFO

RB Leipzig 2 (Klostermann 24', Schick 68')

Hertha Berlin 2 (Grujic 9', Piatek 82' pen)

Man of the match Matheus Cunha (Hertha Berlin

THE SPECS

Engine: 2.0-litre 4-cylinder turbo

Power: 275hp at 6,600rpm

Torque: 353Nm from 1,450-4,700rpm

Transmission: 8-speed dual-clutch auto

Top speed: 250kph

Fuel consumption: 6.8L/100km

On sale: Now

Price: Dh146,999

ELIO

Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

Directors: Madeline Sharafian, Domee Shi, Adrian Molina

Rating: 4/5

Company profile

Name: Steppi

Founders: Joe Franklin and Milos Savic

Launched: February 2020

Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year

Employees: Five

Based: Jumeirah Lakes Towers, Dubai

Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings

Second round raised Dh720,000 from silent investors in June this year

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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UAE currency: the story behind the money in your pockets
The specs: 2019 Chevrolet Bolt EV

Price, base: Dh138,000 (estimate)
Engine: 60kWh battery
Transmission: Single-speed Electronic Precision Shift
Power: 204hp
Torque: 360Nm
​​​​​​​Range: 520km (claimed)

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. 

Results

Light Flyweight (49kg): Mirzakhmedov Nodirjon (UZB) beat Daniyal Sabit (KAZ) by points 5-0.

Flyweight (52kg): Zoirov Shakhobidin (UZB) beat Amit Panghol (IND) 3-2.

Bantamweight (56kg): Kharkhuu Enkh-Amar (MGL) beat Mirazizbek Mirzahalilov (UZB) 3-2.

Lightweight (60kg): Erdenebat Tsendbaatar (MGL) beat Daniyal Shahbakhsh (IRI) 5-0.

Light Welterweight (64kg): Baatarsukh Chinzorig (MGL) beat Shiva Thapa (IND) 3-2.

Welterweight (69kg): Bobo-Usmon Baturov (UZB) beat Ablaikhan Zhussupov (KAZ) RSC round-1.

Middleweight (75kg): Jafarov Saidjamshid (UZB) beat Abilkhan Amankul (KAZ) 4-1.

Light Heavyweight (81kg): Ruzmetov Dilshodbek (UZB) beat Meysam Gheshlaghi (IRI) 3-2.

Heavyweight (91kg): Sanjeet (IND) beat Vassiliy Levit (KAZ) 4-1.

Super Heavyweight ( 91kg): Jalolov Bakhodir (UZB) beat Kamshibek Kunkabayev (KAZ) 5-0.

UAE players with central contracts

Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.

The alternatives

• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.

• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.

• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.

2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.

• PayPal is probably the best-known online goods payment method - usually used for eBay purchases -  but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.

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Updated: October 02, 2024, 7:57 AM`