The Abu Dhabi Securities Exchange (ADX) hopes to introduce Extensible Business Reporting Language (XBRL) for stocks by the end of the year after four years of consultation.
q What is XBRL?
a XBRL is a computer code that enables users to identify or "tag" financial data. Tags are like bar codes attached to specific pieces of data, making it easier to search and analyse.
What are the benefits?
It helps investors make decisions about which shares to buy or sell, and regulators and auditors uncover any irregularities in companies' financial statements. "This program is able to standardise the information, translate the information into several languages, and allows the trader to even compare companies against other companies and sector by sector," says Rashed al Baloushi, the deputy director of the ADX and chairman of the UAE's XBRL steering committee. XBRL should make it easier for foreign investors to research local companies, eventually leading to increased foreign investment.
Where else is it used?
XBRL is already prominent in Europe, but in the US the language has faced resistance from companies failing to adopt the new standard. The results of a study by Grant Thornton's professional standards group this year showed a third of surveyed companies had no plans to comply, despite the US Securities and Exchange Commission's deadline for the middle of next year. Some companies argue that the complexity of tagging the statements could lead to errors. In the UAE, the ADX has already found several listed companies already excited to be part of the pilot program before it is officially implemented.
halsayegh@thenational.ae
Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin
'Doctor Strange in the Multiverse Of Madness'
Director: Sam Raimi
Cast: Benedict Cumberbatch, Elizabeth Olsen, Chiwetel Ejiofor, Benedict Wong, Xochitl Gomez, Michael Stuhlbarg and Rachel McAdams
Rating: 3/5
World Food Day
Celebrated on October 16, to coincide with the founding date of the United Nations Food and Agriculture Organisation, World Food Day aims to tackle issues such as hunger, food security, food waste and the environmental impact of food production.
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Votes
Total votes: 1.8 million
Ashraf Ghani: 923,592 votes
Abdullah Abdullah: 720,841 votes
GOODBYE JULIA
Director: Mohamed Kordofani
Starring: Siran Riak, Eiman Yousif, Nazar Goma
Rating: 5/5
Safety 'top priority' for rival hyperloop company
The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.
He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.
“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.
“Only once the system has been certified and approved will it move people,” he said.
HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon.
With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.
Who is Tim-Berners Lee?
Sir Tim Berners-Lee was born in London in a household of mathematicians and computer scientists. Both his mother, Mary Lee, and father, Conway, were early computer scientists who worked on the Ferranti 1 - the world's first commercially-available, general purpose digital computer. Sir Tim studied Physics at the University of Oxford and held a series of roles developing code and building software before moving to Switzerland to work for Cern, the European Particle Physics laboratory. He developed the worldwide web code as a side project in 1989 as a global information-sharing system. After releasing the first web code in 1991, Cern made it open and free for all to use. Sir Tim now campaigns for initiatives to make sure the web remains open and accessible to all.
Results
Stage 6:
1. Tim Merlier (BEL) Soudal Quick-Step – 3hrs 41min 12sec.
2. Sam Bennett (GBR) Bora – Hansgrohe – ST
3. Dylan Groenewegen (NED) Team Jayco Alula – ST
General classification:
1. Remco Evenepoel (BEL) Soudal Quick-Step
2. Lucas Plapp (AUS) Ineos Grenaders – 9sec
3. Pello Bilbao (ESP) Bahrain Victorious – 13sec
'Avengers: Infinity War'
Dir: The Russo Brothers
Starring: Chris Evans, Chris Pratt, Tom Holland, Robert Downey Junior, Scarlett Johansson, Elizabeth Olsen
Four stars
The specs
Engine: 3.0-litre six-cylinder turbo (BMW B58)
Power: 340hp at 6,500rpm
Torque: 500Nm from 1,600-4,500rpm
Transmission: ZF 8-speed auto
0-100kph: 4.2sec
Top speed: 267kph
On sale: Now
Price: From Dh462,189
Warranty: 30-month/48,000k
A QUIET PLACE
Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou
Director: Michael Sarnoski
Rating: 4/5
AL BOOM
Director:Assad Al Waslati
Starring: Omar Al Mulla, Badr Hakami and Rehab Al Attar
Streaming on: ADtv
Rating: 3.5/5
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 374hp at 5,500-6,500rpm
Torque: 500Nm from 1,900-5,000rpm
Transmission: 8-speed auto
Fuel consumption: 8.5L/100km
Price: from Dh285,000
On sale: from January 2022
Sri Lanka World Cup squad
Dimuth Karunaratne (c), Lasith Malinga, Angelo Mathews, Thisara Perera, Kusal Perera, Dhananjaya de Silva, Kusal Mendis, Isuru Udana, Milinda Siriwardana, Avishka Fernando, Jeevan Mendis, Lahiru Thirimanne, Jeffrey Vandersay, Nuwan Pradeep, Suranga Lakmal.
The Baghdad Clock
Shahad Al Rawi, Oneworld
The specs: 2018 Audi R8 V10 RWS
Price: base / as tested: From Dh632,225
Engine: 5.2-litre V10
Gearbox: Seven-speed automatic
Power: 540hp @ 8,250rpm
Torque: 540Nm @ 6,500rpm
Fuel economy, combined: 12.4L / 100km
Specs: 2024 McLaren Artura Spider
Engine: 3.0-litre twin-turbo V6 and electric motor
Max power: 700hp at 7,500rpm
Max torque: 720Nm at 2,250rpm
Transmission: Eight-speed dual-clutch auto
0-100km/h: 3.0sec
Top speed: 330kph
Price: From Dh1.14 million ($311,000)
On sale: Now
Company Profile
Name: Neo Mobility
Started: February 2023
Co-founders: Abhishek Shah and Anish Garg
Based: Dubai
Industry: Logistics
Funding: $10 million
Investors: Delta Corp, Pyse Sustainability Fund, angel investors
Company profile
Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices
Essentials
The flights
Etihad (etihad.ae) and flydubai (flydubai.com) fly direct to Baku three times a week from Dh1,250 return, including taxes.
The stay
A seven-night “Fundamental Detox” programme at the Chenot Palace (chenotpalace.com/en) costs from €3,000 (Dh13,197) per person, including taxes, accommodation, 3 medical consultations, 2 nutritional consultations, a detox diet, a body composition analysis, a bio-energetic check-up, four Chenot bio-energetic treatments, six Chenot energetic massages, six hydro-aromatherapy treatments, six phyto-mud treatments, six hydro-jet treatments and access to the gym, indoor pool, sauna and steam room. Additional tests and treatments cost extra.
DC League of Super-Pets
Director: Jared Stern
Starring: Dwayne Johnson, Kevin Hart, John Krasinski, Keanu Reeves, Olivia Wilde, Kate McKinnon, Jameela Jamil
Rating: 3/5
Dengue fever symptoms
- High fever
- Intense pain behind your eyes
- Severe headache
- Muscle and joint pains
- Nausea
- Vomiting
- Swollen glands
- Rash
If symptoms occur, they usually last for two-seven days
65
Directors: Scott Beck, Bryan Woods
Stars: Adam Driver, Ariana Greenblatt, Chloe Coleman
Rating: 2/5