Today in
Gulf News
, Mishaal al Gergawi - who,
as I argued in The National this weekend
, has emerged as Dubai's most prominent critical thinker -
calls for something that will have many entrepreneurs nodding their head
s
:
Section off a large government-owned development and offer its offices
and shops, in shell and core state, to entrepreneurs and artists for a
minimal all-in Dh5,000 licence fee, effectively deregulating
entrepreneurship.
The logic is solid
, and furthers a line of thinking on the future of Dubai that has been quietly emerging over the last year.
It was best articulated by
Bayt.com
's
Dan Stuart
, who looked at the idea of startups as stimulus
through the lens of a startup visa for entrepreneur
s:
The time is right to create value at the sme level, create an ecosystem
that incubates startups, make Dubai a globally-attractive place for top
minds to start their new technology businesses, and create new momentum
for Dubai outside the declining property boom and alongside the draw of
tourism.
Another prominent Dubai figure who is calling for a new entrepreneurial
economy to push the city out of crisis is Nabil Alyousuf, a former
right hand man of Sheikh Mohamed bin Rashid. He was plugged into
top-level Dubai thinking during the boom and
is now running an "ideas factory" for the Middle East, as we reported here
.
I could go on (
and have made the argument myself before
)
but it seems pretty clear that this is an idea whose time has come - the most powerful force on Earth,
according to Victor Hugo
. But
will it be embraced? And will it actually happen? I have my doubts for
a whole bunch of reasons, but it is certainly
the
economic story of Dubai for 2010.
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
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.”
UAE currency: the story behind the money in your pockets
RESULT
Manchester City 5 Swansea City 0
Man City: D Silva (12'), Sterling (16'), De Bruyne (54' ), B Silva (64' minutes), Jesus (88')
Easter%20Sunday
%3Cp%3EDirector%3A%20Jay%20Chandrasekhar%3Cbr%3EStars%3A%20Jo%20Koy%2C%20Tia%20Carrere%2C%20Brandon%20Wardell%2C%20Lydia%20Gaston%3Cbr%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
How to register as a donor
1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention
2) There are about 11,000 patients in the country in need of organ transplants
3) People must be over 21. Emiratis and residents can register.
4) The campaign uses the hashtag #donate_hope
Mohammed bin Zayed Majlis
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Neil Thomson – THE BIO
Family: I am happily married to my wife Liz and we have two children together.
Favourite music: Rock music. I started at a young age due to my father’s influence. He played in an Indian rock band The Flintstones who were once asked by Apple Records to fly over to England to perform there.
Favourite book: I constantly find myself reading The Bible.
Favourite film: The Greatest Showman.
Favourite holiday destination: I love visiting Melbourne as I have family there and it’s a wonderful place. New York at Christmas is also magical.
Favourite food: I went to boarding school so I like any cuisine really.
In numbers
1,000 tonnes of waste collected daily:
- 800 tonnes converted into alternative fuel
- 150 tonnes to landfill
- 50 tonnes sold as scrap metal
800 tonnes of RDF replaces 500 tonnes of coal
Two conveyor lines treat more than 350,000 tonnes of waste per year
25 staff on site
