Abu Dhabi Department of Economic Development has completed the first phase of the financial ecosystem programme for industrial facilities in the emirate, under which nine companies secured credit insurance to boost their business.
Implemented by the Industrial Development Bureau, an affiliate of Added, the programme seeks to improve the credit environment for the industrial and commercial sectors by motivating banks to compete and provide prominent financing services and products to the economic sectors across Abu Dhabi.
The total value of insured turnover of the nine industrial facilities amounted to Dh2.1 billion ($571 million) since March 2020, Added said in a statement on Sunday. The insured turnover for the metal industry was Dh1.588bn, Dh367m for the plastic and glass industry, Dh100m for construction sector, Dh70m for chemical sector and Dh19m for electrical and electronics industry.
The plan aims to increase competitiveness within the financial sector, enhance the financial ecosystem, increase the economic impact and return of the industrial sector through exports, in addition to increasing access to financing, Mohamed Al Shorafa, chairman of Added, said.
The Industrial Development Bureau is working with the Abu Dhabi Digital Authority to provide a digital platform through which the financial ecosystem programme is implemented through the integrated services system “Tamm”, he added.
“The integration will ease the process for business owners to obtain the appropriate financing for their entities in an easy and accessible manner that is compatible with the nature of their economic activity,” the statement said.
Abu Dhabi has taken various steps to promote self-sufficiency and encourage local manufacturing.
Added introduced the basic industries project aimed at making the emirate “self-sufficient in the production of basic and consumer commodities” in July last year. The aim is to increase the private sector's contribution in meeting local demand and to encourage exports. The project, which is being undertaken by the Industrial Development Bureau, will seek to strengthen investment in four major sectors of food production, medical supplies, power generation and important materials such as iron and cement.
In its second phase, which starts early next year, the financial ecosystem programme aims to secure export credit insurance for 28 industrial facilities in Abu Dhabi, with a total turnover value of Dh7.5bn, including metal, electrical, chemical, plastic, glass, construction, food, wood, paper, machinery and equipment industries, according to Added.
Abu Dhabi has been taking measures to support its economy, including providing rent rebates and reducing business set-up costs by more than 90 per cent to attract investors and improve the ease of doing business in the emirate.
In July this year, Added, in partnership with other government organisations, cut business set-up fees by 94 per cent to Dh1,000 to attract more investors to the emirate and boost its competitiveness.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Grand Slam Los Angeles results
Men:
56kg – Jorge Nakamura
62kg – Joao Gabriel de Sousa
69kg – Gianni Grippo
77kg – Caio Soares
85kg – Manuel Ribamar
94kg – Gustavo Batista
110kg – Erberth Santos
Women:
49kg – Mayssa Bastos
55kg – Nathalie Ribeiro
62kg – Gabrielle McComb
70kg – Thamara Silva
90kg – Gabrieli Pessanha
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
UNpaid bills:
Countries with largest unpaid bill for UN budget in 2019
USA – $1.055 billion
Brazil – $143 million
Argentina – $52 million
Mexico – $36 million
Iran – $27 million
Israel – $18 million
Venezuela – $17 million
Korea – $10 million
Countries with largest unpaid bill for UN peacekeeping operations in 2019
USA – $2.38 billion
Brazil – $287 million
Spain – $110 million
France – $103 million
Ukraine – $100 million
RESULTS
Manchester United 2
Anthony Martial 30'
Scott McTominay 90 6'
Manchester City 0
Apple%20Mac%20through%20the%20years
%3Cp%3E1984%20-%20Apple%20unveiled%20the%20Macintosh%20on%20January%2024%3Cbr%3E1985%20-%20Steve%20Jobs%20departed%20from%20Apple%20and%20established%20NeXT%3Cbr%3E1986%20-%20Apple%20introduced%20the%20Macintosh%20Plus%2C%20featuring%20enhanced%20memory%3Cbr%3E1987%20-%20Apple%20launched%20the%20Macintosh%20II%2C%20equipped%20with%20colour%20capabilities%3Cbr%3E1989%20-%20The%20widely%20acclaimed%20Macintosh%20SE%2F30%20made%20its%20debut%3Cbr%3E1994%20-%20Apple%20presented%20the%20Power%20Macintosh%3Cbr%3E1996%20-%20The%20Macintosh%20System%20Software%20OS%20underwent%20a%20rebranding%20as%20Mac%20OS%3Cbr%3E2001%20-%20Apple%20introduced%20Mac%20OS%20X%2C%20marrying%20Unix%20stability%20with%20a%20user-friendly%20interface%3Cbr%3E2006%20-%20Apple%20adopted%20Intel%20processors%20in%20MacBook%20Pro%20laptops%3Cbr%3E2008%20-%20Apple%20introduced%20the%20MacBook%20Air%2C%20a%20lightweight%20laptop%3Cbr%3E2012%20-%20Apple%20launched%20the%20MacBook%20Pro%20with%20a%20retina%20display%3Cbr%3E2016%20-%20The%20Mac%20operating%20system%20underwent%20rebranding%20as%20macOS%3Cbr%3E2020%20-%20Apple%20introduced%20the%20M1%20chip%20for%20Macs%2C%20combining%20high%20performance%20and%20energy%20efficiency%3Cbr%3E2022%20-%20The%20M2%20chip%20was%20announced%3Cbr%3E2023%20-The%20M3%20line-up%20of%20chip%20was%20announced%20to%20improve%20performance%20and%20add%20new%20capabilities%20for%20Mac.%3C%2Fp%3E%0A
How being social media savvy can improve your well being
Next time when procastinating online remember that you can save thousands on paying for a personal trainer and a gym membership simply by watching YouTube videos and keeping up with the latest health tips and trends.
As social media apps are becoming more and more consumed by health experts and nutritionists who are using it to awareness and encourage patients to engage in physical activity.
Elizabeth Watson, a personal trainer from Stay Fit gym in Abu Dhabi suggests that “individuals can use social media as a means of keeping fit, there are a lot of great exercises you can do and train from experts at home just by watching videos on YouTube”.
Norlyn Torrena, a clinical nutritionist from Burjeel Hospital advises her clients to be more technologically active “most of my clients are so engaged with their phones that I advise them to download applications that offer health related services”.
Torrena said that “most people believe that dieting and keeping fit is boring”.
However, by using social media apps keeping fit means that people are “modern and are kept up to date with the latest heath tips and trends”.
“It can be a guide to a healthy lifestyle and exercise if used in the correct way, so I really encourage my clients to download health applications” said Mrs Torrena.
People can also connect with each other and exchange “tips and notes, it’s extremely healthy and fun”.
The biog:
From: Wimbledon, London, UK
Education: Medical doctor
Hobbies: Travelling, meeting new people and cultures
Favourite animals: All of them
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
2019 Asian Cup final
Japan v Qatar
Friday, 6pm
Zayed Sports City Stadium, Abu Dhabi
THE TWIN BIO
Their favourite city: Dubai
Their favourite food: Khaleeji
Their favourite past-time : walking on the beach
Their favorite quote: ‘we rise by lifting others’ by Robert Ingersoll
BRIEF SCORES:
Toss: Nepal, chose to field
UAE 153-6: Shaiman (59), Usman (30); Regmi 2-23
Nepal 132-7: Jora 53 not out; Zahoor 2-17
Result: UAE won by 21 runs
Series: UAE lead 1-0
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
Closing the loophole on sugary drinks
As The National reported last year, non-fizzy sugared drinks were not covered when the original tax was introduced in 2017. Sports drinks sold in supermarkets were found to contain, on average, 20 grams of sugar per 500ml bottle.
The non-fizzy drink AriZona Iced Tea contains 65 grams of sugar – about 16 teaspoons – per 680ml can. The average can costs about Dh6, which would rise to Dh9.
Drinks such as Starbucks Bottled Mocha Frappuccino contain 31g of sugar in 270ml, while Nescafe Mocha in a can contains 15.6g of sugar in a 240ml can.
Flavoured water, long-life fruit juice concentrates, pre-packaged sweetened coffee drinks fall under the ‘sweetened drink’ category
Not taxed:
Freshly squeezed fruit juices, ground coffee beans, tea leaves and pre-prepared flavoured milkshakes do not come under the ‘sweetened drink’ band.
