ABU DHABI // The Cabinet met in a 500-year-old castle on Sunday to approve the designation of 2015 as the Year of Innovation, in a plan to make the UAE a world innovative leader.
At its special meeting in Fujairah’s historic fort, the Cabinet directed all federal government bodies to boost cooperation and to revise their policies to develop a nurturing environment for innovation.
“Announcing 2015 as the Year of Innovation comes to support federal government efforts, attract national skills, increase distinguished research, as well as boost efforts to build a national cadre who are able to lead our future in this field towards more progress, prosperity and innovation,” said Sheikh Khalifa, the President.
The first phase of the strategy includes 30 national initiatives to help the UAE reach the top global benchmarks for innovation.
Sheikh Khalifa praised local government efforts in adopting innovation for sectors including renewable energy, transport, technology, water and space.
“We live today in a world witnessing rapid changes and continuous developments, full of opportunities, discoveries and inventions,” he said.
“We must prepare and equip our generations in such a manner that they fit in the world in which we live, ensure their position among nations, and make a prosperous future for us similar to our present.”
Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, said the initiative should be seen as an opportunity for the nation to unite its efforts to boost its capabilities for innovations.
“Today, more than any other time, we need to boost innovation among young people, build nurturing environments in our society, and encourage our schools and universities to equip our youth with skills in research and discovery methodologies,” Sheikh Mohammed said.
“We want our public and private sectors to explore new horizons to develop our economy. Innovation is our only way to build a great history of the UAE.
“The future will be for those who adopt innovation.”
He said the Cabinet had convened in Fujairah rather than Abu Dhabi or Dubai to show that all emirates were important in this united country.
“We convene today in a 500-year-old castle,” Sheikh Mohammed said.
Our vision is setting the foundation to build a future that will be for hundreds of years to come.
Dr Ahmad Belhoul, chief executive of Abu Dhabi’s sustainable energy investment company Masdar, welcomed the announcement.
“Today’s announcement is far-sighted and will help unlock greater social and economic value for the UAE,” Dr Belhoul said.
“Masdar is committed to implementing the Federal Innovation Strategy across the various priority sectors, be it renewables, transport, water or education.
“Through Masdar City, Masdar is fostering a culture built on innovation, where the Masdar Institute is investing in cultivating talent of the future, while over 190 companies have chosen the Incubator to launch their innovative entrepreneurial businesses.
“Looking to 2015, we will redouble our efforts in growing this innovation ecosystem for the wider benefit of the UAE.”
newsdesk@thenational.ae
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Current role: Chairperson of Al Maskari Holding since 2008
Career high: Regularly cited on Forbes list of 100 most powerful Arab Businesswomen
Achievement: Helped establish Al Maskari Medical Centre in 1969 in Abu Dhabi’s Western Region
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ICC Awards for 2021+
MEN
Cricketer of the Year+– Shaheen Afridi+(Pakistan)
T20 Cricketer of the Year+– Mohammad Rizwan+(Pakistan)
ODI Cricketer of the Year+– Babar Azam+(Pakistan)
Test Cricketer of the Year+– Joe Root+(England)
WOMEN
Cricketer of the Year+– Smriti Mandhana+(India)
ODI Cricketer of the Year+– Lizelle Lee+(South Africa)
T20 Cricketer of the Year+– Tammy Beaumont+(England)
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• Neven Stanisic, 23
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• Tralona Bartkowiak, 49
• Suzanne Fountain, 59
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• Eric Talley, 51
• Kevin Mahoney, 61
• Lynn Murray, 62
• Jody Waters, 65
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Structural weaknesses facing Israel economy
1. Labour productivity is lower than the average of the developed economies, particularly in the non-tradable industries.
2. The low level of basic skills among workers and the high level of inequality between those with various skills.
3. Low employment rates, particularly among Arab women and Ultra-Othodox Jewish men.
4. A lack of basic knowledge required for integration into the labour force, due to the lack of core curriculum studies in schools for Ultra-Othodox Jews.
5. A need to upgrade and expand physical infrastructure, particularly mass transit infrastructure.
6. The poverty rate at more than double the OECD average.
7. Population growth of about 2 per cent per year, compared to 0.6 per cent OECD average posing challenge for fiscal policy and underpinning pressure on education, health care, welfare housing and physical infrastructure, which will increase in the coming years.
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Friday (All UAE kick-off times)
Borussia Dortmund v Eintracht Frankfurt (11.30pm)
Saturday
Union Berlin v Bayer Leverkusen (6.30pm)
FA Augsburg v SC Freiburg (6.30pm)
RB Leipzig v Werder Bremen (6.30pm)
SC Paderborn v Hertha Berlin (6.30pm)
Hoffenheim v Wolfsburg (6.30pm)
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Sunday
Cologne v Bayern Munich (6.30pm)
Mainz v FC Schalke (9pm)
hall of shame
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SUNDERLAND 2005-06
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HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
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LA LIGA: Sporting Gijon, 13 points in 1997-98.
BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66
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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.
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Faisal Al Ketbi – Jiu-jitsu – Men’s -85kg
Asma Al Hosani – Jiu-jitsu – Women’s -52kg
Shamma Al Kalbani – Jiu-jitsu – Women’s -63kg
Silver
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Bishrelt Khorloodoi – Judo – Women’s -52kg
Khalid Al Blooshi – Jiu-jitsu – Men’s -62kg
Mohamed Al Suwaidi – Jiu-jitsu – Men’s -69kg
Balqees Abdulla – Jiu-jitsu – Women’s -48kg
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Ahmed Al Mansoori – Cycling – Men’s omnium
Abdullah Al Marri – Equestrian – Individual showjumping
Team UAE – Equestrian – Team showjumping
Dzhafar Kostoev – Judo – Men’s -100kg
Narmandakh Bayanmunkh – Judo – Men’s -66kg
Grigorian Aram – Judo – Men’s -90kg
Mahdi Al Awlaqi – Jiu-jitsu – Men’s -77kg
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Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
