The chief of Abu Dhabi's media hub has told the US Aspen Institute why closing the Arabic language content gap is a top priority. The UAE is leading efforts to increase Arabic content online via twofour54, the commercial arm of the Media Zone Authority in Abu Dhabi.
It hosts more than 200 local, regional and international media and entertainment companies. Noura Al Kaabi, the chief executive at twofour54, took part in a discussion panel last week at the Aspen Institute in Washington DC to address the challenges involved. She addressed the impact of the Arabic content gap on the Arabic-speaking community and how twofour54 is working within the UAE, regionally and internationally, to forge partnerships that grows the cachet of Arabic media content.
Global players such as Google and Yahoo have ramped up efforts to increase Arabic content across their products and services.
Google has been promoting Google Hangouts with regional celebrities and recently opened up its YouTube Partner Program in Egypt, Saudi Arabia and the UAE to enable content producers to profit from their videos on the website. Developers at twofour54 have to date launched six Arabic mobile applications and the first Arabic e-book. Serving the Arabic online community is fast becoming a big media opportunity, according to experts. While Arabic is the world's seventh most spoken language, it only accounts for about 3 per cent of all online content and much of that is user-generated like tweets and Facebook updates.
"The digital era started late in Mena. There are three stages in the digital economy, first the telecoms infrastructure, smartphone and tablet penetration, second it is quality Arabic content and finally e-commerce," said Gregory Bolle, the strategic planning head at BPG Cohn & Wolfe. "We are only just entering phase two in the region."
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Roll of honour 2019-2020
Dubai Rugby Sevens
Winners: Dubai Hurricanes
Runners up: Bahrain
West Asia Premiership
Winners: Bahrain
Runners up: UAE Premiership
UAE Premiership
Winners: Dubai Exiles
Runners up: Dubai Hurricanes
UAE Division One
Winners: Abu Dhabi Saracens
Runners up: Dubai Hurricanes II
UAE Division Two
Winners: Barrelhouse
Runners up: RAK Rugby
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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
Company%C2%A0profile
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UAE currency: the story behind the money in your pockets
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
Company%20profile
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Sukuk explained
Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.
PROFILE OF INVYGO
Started: 2018
Founders: Eslam Hussein and Pulkit Ganjoo
Based: Dubai
Sector: Transport
Size: 9 employees
Investment: $1,275,000
Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri