Dubai retained its top position in the Middle East and North Africa region and climbed up three spots globally to 11th overall on the Global Power City Index 2022.
The emirate also stood first regionally and fourth globally in the cultural interaction parameter, improving from its fifth rank overall on the parameter in last year’s index, Dubai Government Media Office said in a statement.
The index, issued by the Mori Memorial Foundation’s Institute for Urban Strategies in Japan, ranked the world’s major cities according to their “magnetism”, or power to attract people, capital and enterprises from around the world.
The rankings are derived from scores on six parameters — economy, research and development, cultural interaction, liveability, environment and accessibility.
Dubai has emerged as one of the world’s great metropolises and a prominent global cultural centre, a dynamic hub for creativity and a destination for talent, said Sheikh Hamdan bin Mohammed, Crown Prince of Dubai.
“The improvement in rankings reveals the richness and strength of Dubai’s vibrant cultural environment and its ethos of inclusive development that has brought well-being to its residents from around 200 nationalities.
“The progress in rankings on cultural interaction shows Dubai’s emergence as a unique bridge between cultures and markets and its ability to promote engagement between people and institutions worldwide. The progress in various international indices encourages Dubai to raise excellence further and enhance its cultural and creative assets."
Institute for Urban Strategies said 2022 rankings were significantly affected by how cities responded to the Covid-19 pandemic, which upended the world economy.
Dubai's economy bounced back from the coronavirus-driven slowdown last year, picking up further growth momentum this year.
Expo 2020 Dubai and government measures to minimise the effects of Covid-19 also spurred growth this year.
Dubai’s economy expanded by 4.6 per cent on annual basis in the first nine months of this year to about Dh307.5 billion ($84 billion), driven by the emirate’s efforts to solidify its position as a business, financial and tourism centre, Sheikh Hamdan said this month.
By tracking changes in international flight frequencies of cities since 2019, the GPCI analysed the responses and strategies of cities and countries to the pandemic.
Dubai was one of the first cities to reopen for international visitors since the onset of the pandemic. It also created a safe environment for holding Expo 2020 Dubai from October 2021 to March 2022, the statement said.
“Both achievements contributed to the emirate’s rise to third ranking in the tourist attractions sub-parameter within the cultural interaction,” it added.
“Dubai has developed an integrated strategy to consolidate its position as a city of choice for cultural practices, experiences and consumption,” said Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, chairwoman of Dubai Culture and Arts Authority, and member of the Dubai Council.
“Dubai’s emergence as a major global hub for culture and creativity increases our determination to raise the emirate’s global competitiveness in these spheres … we also seek to enhance the diversity of Dubai’s cultural offering in order to further enrich the experiences the city offers both residents and visitors.”
In the latest index, Dubai also jumped in other sub-parameters, including number of foreign visitors, cities with direct international flights, attractiveness of shopping options and attractiveness of dining options.
UAE currency: the story behind the money in your pockets
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
Buy farm-fresh food
The UAE is stepping up its game when it comes to platforms for local farms to show off and sell their produce.
In Dubai, visit Emirati Farmers Souq at The Pointe every Saturday from 8am to 2pm, which has produce from Al Ammar Farm, Omar Al Katri Farm, Hikarivege Vegetables, Rashed Farms and Al Khaleej Honey Trading, among others.
In Sharjah, the Aljada residential community will launch a new outdoor farmers’ market every Friday starting this weekend. Manbat will be held from 3pm to 8pm, and will host 30 farmers, local home-grown entrepreneurs and food stalls from the teams behind Badia Farms; Emirates Hydroponics Farms; Modern Organic Farm; Revolution Real; Astraea Farms; and Al Khaleej Food.
In Abu Dhabi, order farm produce from Food Crowd, an online grocery platform that supplies fresh and organic ingredients directly from farms such as Emirates Bio Farm, TFC, Armela Farms and mother company Al Dahra.
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End of free parking
- paid-for parking will be rolled across Abu Dhabi island on August 18
- drivers will have three working weeks leeway before fines are issued
- areas that are currently free to park - around Sheikh Zayed Bridge, Maqta Bridge, Mussaffah Bridge and the Corniche - will now require a ticket
- villa residents will need a permit to park outside their home. One vehicle is Dh800 and a second is Dh1,200.
- The penalty for failing to pay for a ticket after 10 minutes will be Dh200
- Parking on a patch of sand will incur a fine of Dh300
more from Janine di Giovanni
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
How will Gen Alpha invest?
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
Directed: Smeep Kang
Produced: Soham Rockstar Entertainment; SKE Production
Cast: Rishi Kapoor, Jimmy Sheirgill, Sunny Singh, Omkar Kapoor, Rajesh Sharma
Rating: Two out of five stars
Chatham House Rule
A mark of Chatham House’s influence 100 years on since its founding, was Moscow’s formal declaration last month that it was an “undesirable
organisation”.
The depth of knowledge and academics that it drew on
following the Ukraine invasion had broadcast Mr Putin’s chicanery.
The institute is more used to accommodating world leaders,
with Nelson Mandela, Margaret Thatcher among those helping it provide
authoritative commentary on world events.
Chatham House was formally founded as the Royal Institute of
International Affairs following the peace conferences of World War One. Its
founder, Lionel Curtis, wanted a more scientific examination of international affairs
with a transparent exchange of information and ideas.
That arena of debate and analysis was enhanced by the “Chatham
House Rule” states that the contents of any meeting can be discussed outside Chatham
House but no mention can be made identifying individuals who commented.
This has enabled some candid exchanges on difficult subjects
allowing a greater degree of free speech from high-ranking figures.
These meetings are highly valued, so much so that
ambassadors reported them in secret diplomatic cables that – when they were
revealed in the Wikileaks reporting – were thus found to have broken the rule. However,
most speeches are held on the record.
Its research and debate has offered fresh ideas to
policymakers enabling them to more coherently address troubling issues from climate
change to health and food security.
