Dubai to fine-tune rules and tap drone potential



The Dubai Multi-Commodities Centre (DMCC), a fast-growing trade free zone, is seeking to exploit the commercial opportunities of unmanned aerial vehicles – more commonly known as drones – with the Dubai Civil Aviation Authority (DCAA).

The two bodies said on Saturday that they would create and launch a drone trading platform as part of the emirate’s vehicle regulation.

Gautam Sashittal, the DMCC chief executive, received a DCAA delegation under its head of aviation regulations and safety, Michael Rudolph, and agreed to work closely with the emirate’s Department of Economic Development to refine regulations for commercial drones.

DMCC said: “We continually seek to identify new opportunities and leverage emerging technologies. We are part of a new era in aviation and are delighted to be the first free zone to launch drone licensing in Dubai, which will make it safer and easier to do aerial surveying and gather information.”

Mr Rudolph said: “Drones play an important role in modern life. From a civil aviation perspective, they are key to promoting the Dubai Smart Government vision, and the DCAA is ensuring flight safety of Dubai’s airspace. They are also essential for law enforcement organisations to maintain and monitor security on the ground. We look forward to seeing the continued expansion and impact of this technology unfold across both in the public and private sector, and we are pleased to contribute to enabling that outcome.”

Growing demands for air surveillance and remote sensing are expected to drive the commercial drones market over the coming years. Commercial drones are widely used in a broad range of applications, including law enforcement, aviation, agriculture, infrastructure, media and entertainment, and scientific research.

The UAE has been among the first to identify the commercial significance of drones.

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COMPANY PROFILE

Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

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Name: Dr Hassan Mohsen Elhais

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

Company profile

Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices

The Porpoise

By Mark Haddon 

(Penguin Random House)
 

Reading List

Practitioners of mindful eating recommend the following books to get you started:

Savor: Mindful Eating, Mindful Life by Thich Nhat Hanh and Dr Lilian Cheung

How to Eat by Thich Nhat Hanh

The Mindful Diet by Dr Ruth Wolever

Mindful Eating by Dr Jan Bays

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The biog

Name: Maitha Qambar

Age: 24

Emirate: Abu Dhabi

Education: Master’s Degree

Favourite hobby: Reading

She says: “Everyone has a purpose in life and everyone learns from their experiences”

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Engine: 3.5-litre V6
Transmission: 9-speed automatc
Power: 279hp
Torque: 350Nm
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On sale: Now

How to vote in the UAE

1) Download your ballot https://www.fvap.gov/

2) Take it to the US Embassy

3) Deadline is October 15

4) The embassy will ensure all ballots reach the US in time for the November 3 poll

The Uefa Awards winners

Uefa Men's Player of the Year: Virgil van Dijk (Liverpool)

Uefa Women's Player of the Year: Lucy Bronze (Lyon)

Best players of the 2018/19 Uefa Champions League

Goalkeeper: Alisson (Liverpool)

Defender: Virgil van Dijk (Liverpool)

Midfielder: Frenkie de Jong (Ajax)

Forward: Lionel Messi (Barcelona)

Uefa President's Award: Eric Cantona

Innotech Profile

Date started: 2013

Founder/CEO: Othman Al Mandhari

Based: Muscat, Oman

Sector: Additive manufacturing, 3D printing technologies

Size: 15 full-time employees

Stage: Seed stage and seeking Series A round of financing 

Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now. 

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Founder: Omar Onsi

Launched: 2018

Employees: 35

Financing stage: Seed round ($12 million)

Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners

Secret Nation: The Hidden Armenians of Turkey
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EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE

Edinburgh: November 4 (unchanged)

Bahrain: November 15 (from September 15); second daily service from January 1

Kuwait: November 15 (from September 16)

Mumbai: January 1 (from October 27)

Ahmedabad: January 1 (from October 27)

Colombo: January 2 (from January 1)

Muscat: March 1 (from December 1)

Lyon: March 1 (from December 1)

Bologna: March 1 (from December 1)

Source: Emirates

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.