Microsoft and Siemens are among the first dozen companies supporting the Ministry of Industry and Advanced Technology's new programme to accelerate the digital capabilities of thousands of local manufacturers.
Industry 4.0, announced on Wednesday, aims to increase productivity and the development of innovative products, boosting manufacturing by 30 per cent and adding Dh25 billion ($6.8bn) to the economy by 2031.
“This initiative is a first of its kind in the Middle East and is a cornerstone of the Projects of the 50,” Sarah Al Amiri, Minister of State for Advanced Sciences, said on Wednesday in Abu Dhabi.
The Projects of the 50 and the related Principles of the 50 are part of the government's plan to ensure the UAE economy remains dynamic and robust over the next half a century.
Ms Al Amiri added that harnessing the potential of automation, additive manufacturing and blockchain, among other technologies, will help to lower the carbon footprint of UAE industry, allow small-and medium-sized companies to become “more innovative and inventive” and give UAE consumers a wider array of available products and services.
“In line with our leadership’s vision, the Ministry of Industry and Advanced Technology focuses on increasing the industrial sector’s contribution to the national GDP, enabling economic diversification and transforming to a knowledge-based economy,” Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, said.
“As the UAE embarks on the next 50 years, UAE Industry 4.0 will be crucial to the nation’s continued competitiveness on the global stage, and its standing as an incubator of pioneering ideas and new industries.”
Preliminary agreements were signed with the departments of economic development of Abu Dhabi, Dubai and Ajman, as well as with 12 multinational companies including Adnoc, Abu Dhabi defence conglomerate Edge, German energy giant Siemens, US tech major Microsoft and UAE aluminium manufacturer Emirates Global Aluminium (EGA).
The dozen company partners will form the ‘Champions 4.0 network’, showcasing applications of Fourth Industrial technology and sharing knowledge and automation packages for small to medium-sized enterprises, of which there are some 13,000 in the industrial sector in the UAE.
To begin, the network will identify, assess and then assist 200 companies ripe for Industry 4.0 transformation.
Automation will decrease costs and carbon emissions, as well as improve worker safety, EGA chief executive Abdulnasser Bin Kalban told The National. He said he looked forward to sharing best practices from the world’s fourth biggest aluminium manufacturer with the wider industrial sector in the UAE.
Ericsson, which has been working in the UAE since the late 1970s, initially on a contract with Etisalat to install landlines for telephones, is now looking at how 5G can help industry.
“Our role will be to show use cases” of 5G to industrial manufacturing companies, Wojciech Bajda, president of Gulf countries at Ericsson, told The National.
He added that there is massive potential in smart industrial farming in Al Ain, with farmers there eager to digitalise, and place Internet of Things sensors to monitor soil, water and weather and then automate planting and harvesting with robotics.
“Our priority is to contribute positively and firmly to making the United Arab Emirates’ industry on the global map. We have a lot of things to bring to this, whether by technology transfer, developing the local talents or increasing the industrial footprint in the country, working with small and medium partners,” Ahmed Khashan, cluster president for Gulf countries at Schneider Electric, told The National.
Helmut von Struve, the chief executive of Siemens UAE and Middle East, said the aim will be to work out what makes sense for each company that takes part in the digitalisation drive, and tailor recommendations to those needs.
He added that much is being learnt at Expo 2020 Dubai.
The site at “Expo is for us a blueprint for future smart cities,” he said, with double the footprint of Monaco.
The Industry 4.0 programme falls under the UAE’s Operation 300Bn initiative, which aims to increase the contribution of industry to national GDP to Dh300bn over the coming decade.
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
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.”
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
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J%20Street%20Polling%20Results
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The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
First Person
Richard Flanagan
Chatto & Windus
Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
UAE%20Warriors%2033%20Results
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SPECS
Toyota land Cruiser 2020 5.7L VXR
Engine: 5.7-litre V8
Transmission: eight-speed automatic
Power: 362hp
Torque: 530Nm
Price: Dh329,000 (base model 4.0L EXR Dh215,900)
