Dubai Future Labs (DFL), an initiative of Dubai Future Foundation (DFF), has signed three preliminary deals with Emirates airline, DP World and Dnata, aimed at driving innovation in the fields of aviation and logistics.
The partnerships will help to “deploy future technologies to drive innovation in our aviation and logistics sectors”, Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and chairman of the Executive Council of Dubai, said in a tweet on Sunday, as he witnessed the signings of the agreements.
“We continue to advance Dubai's leadership in robotics and automation technologies”, said Sheikh Hamdan, who is also the chairman of the Board of Trustees of the Dubai Future Foundation.
The partnerships aim to activate the Dubai Robotics and Automation Programme that was launched in September to support the development of the technologies as part of the emirate's move towards the future economy, as well as accelerate its deployment in key economic sectors, the Dubai Media Office said.
“These three partnerships will contribute to strengthening Dubai and the UAE’s position as a living laboratory for advanced technologies and innovations,” said Omar Al Olama, Minister of State for Digital Economy, AI and Remote Working System, and deputy managing director of the Dubai Future Foundation.
“Deploying robotics, automation and future technologies in key sectors enhances economic diversification and raises Dubai’s long-term competitiveness and attractiveness as a platform for launching and growing businesses and enabling international trade with cutting-edge logistical services.”
Dubai has been boosting efforts to support the development of its future economy.
In July, the emirate formed a higher committee for future technology and digital economy, which aims to help shape the future of artificial intelligence by investing in the metaverse and establishing partnerships to boost Dubai’s digital economy.
Dubai's government also unveiled a metaverse strategy this year that aims to create 40,000 jobs and add $4 billion to the emirate's economy in the next five years.
The strategy, which aims to position the emirate among the top 10 cities that will shape the emerging technology's future globally, aims to double the number of blockchain companies and the metaverse by five times.
The latest partnership will see Emirates airline co-operating with Dubai Laboratories for the Future to develop and test robot projects for passenger check-in, lounge service, warehouse management systems, baggage transfer and cargo storage, the media office said.
The world's largest long-haul airline is also redoubling efforts to overhaul its warehouse management system by deploying automated solutions.
“This will give Emirates the opportunity to gain from DFF’s pool of experts and programmers, who will work with practical use cases and knowledge from the airline to enhance day to day operations, improve efficiency, as well as deliver further seamless experiences to our customers,” said Emirates chief operating officer Adel Al Redha.
Co-operation with Dnata, meanwhile, includes automation projects for the entire fleet of ground operations, electric power, and security and safety standards. The partnership will also support Dnata in achieving its strategic objectives and reducing its carbon footprint by 50 per cent by 2030.
DP World and Dubai Future Foundation will explore the potential for achieving breakthroughs in various fields by integrating with smart government system and spurring development and innovation to transform the UAE into an advanced digital and smart economy, said Sultan bin Sulayem, group chairman and chief executive of DP World.
As part of the initial pact, DFL will facilitate the research, testing and implementation of new technologies for the ports operator's logistics operations and develop future technologies that incorporate artificial intelligence, robotics, data analysis and blockchain, the statement said.
The solutions planned to be developed include automated and smart systems for transporting, handling, and storing goods across port operations.
“Keeping pace with the rapid evolution of technology, we are also exploring the deployment of metaverse solutions across our operations to solve real-world supply chain bottlenecks,” Mr bin Sulayem said.
DFL, which was launched two years ago, provides an advanced open and applied research and development lab for testing technologies, and smart automation solutions for storage, handling, transportation and logistics services, said Khalfan Belhoul, chief executive of the Dubai Future Foundation.
It also provides designs for self-driving vehicles powered by zero-emission renewable energy, besides other innovations that employ programming, machine learning, the internet of things, robots, big data management and analysis, he said.
A key driver of Dubai’s innovation ecosystem, DFL runs advanced robotics and AI applied research projects that are aimed at raising Dubai’s future readiness, the Mr Belhoul said.
ADCC AFC Women’s Champions League Group A fixtures
October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA
If you go...
Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Sour%20Grapes
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UAE currency: the story behind the money in your pockets
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
ASHES SCHEDULE
First Test
November 23-27 (The Gabba, Brisbane)
Second Test
December 2-6 (Adelaide Oval, Adelaide)
Third Test
December 14-18 (Waca Ground, Perth)
Fourth Test
December 26-30 (Melbourne Cricket Ground, Melbourne)
Fifth Test
January 4-8, 2018 (Sydney Cricket Ground, Sydney)
The%20National%20selections
%3Cp%3E6pm%3A%20Barakka%3Cbr%3E6.35pm%3A%20Dhahabi%3Cbr%3E7.10pm%3A%20Mouheeb%3Cbr%3E7.45pm%3A%20With%20The%20Moonlight%3Cbr%3E8.20pm%3A%20Remorse%3Cbr%3E8.55pm%3A%20Ottoman%20Fleet%3Cbr%3E9.30pm%3A%20Tranquil%20Night%3C%2Fp%3E%0A
Paris Can Wait
Dir: Eleanor Coppola
Starring: Alec Baldwin, Diane Lane, Arnaud Viard
Two stars
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Company%20profile
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Sunday:
GP3 race: 12:10pm
Formula 2 race: 1:35pm
Formula 1 race: 5:10pm
Performance: Guns N' Roses
Match info
Uefa Nations League Group B:
England v Spain, Saturday, 11.45pm (UAE)