World Governments Summit: live updates
The World Governments Summit in Dubai opened on Tuesday with a speech by its chairman calling on humanity to learn from the mistakes of the past as a new technological age begins.
Over the next 25 years, Mohammed Al Gergawi, Minister of Cabinet Affairs said, artificial intelligence would move civilisation ahead faster than at any stage in history.
He also called on governments to keep pace with innovation and asked the richest nations to contribute more to eliminate poverty. “The past 25 years have been nothing short of extraordinary,” said Mr Al Gergawi.
“Marked by certain transformations and unprecedented shifts, the world in 2000 was optimistic, with globalisation seen as an unstoppable force for economic good and technological innovation. But the opposite has happened and we have given way to fragmentation, protectionism and populism.”
Growing population
The global population has increased from six billion in 2000 to 8.2 billion today, while the global economy has tripled to $33 trillion.
This century, the world went from domination by traditional industrial giants driven by oil, heavy manufacturing and financial services to one dominated by technology.
Conflict and natural disasters have cost millions of lives and displaced millions more.
Mr Al Gergawi said with only four per cent of conflicts resolved by peace agreements, it was time to look for alternatives to war through diplomacy.
“What if we had selected peace over violence and diplomatic solutions?” Mr Al Gergawi said in the summit’s opening address.
“A utopia – but we can make more wise decisions when we realise that stability and coexistence are much better than conflicts. It is said those who fail to learn from history are destined to repeat it.”
The minister said a disintegrating public trust in governments had led to a rise in populism, and he warned of further unrest.
“Since 2000, we have witnessed a decline and the level of trust in governments in many countries, and a rise of populist movements and protests around the world,” said Mr Al Gergawi.
“Studies suggest that eradicating hunger and disease would require approximately $800 billion annually. If the world's 50 largest economies allocated just one per cent of their GDP to solve these challenges, it would be more than enough – the decision is in our hands. Our future does not require miracles, only a commitment to our humanitarian values.”
Rapid rate of change
Discussion on the opening morning of the summit included how governments operate in an age of artificial intelligence, and how to innovate in a more connected world with an ageing population.
In 2050, more than 20 per cent of the world's population will be over the age of 60, double the percentage recorded in 2000.
While tackling the health challenges of an ageing population, governments will also have to keep pace with the rapid rate of change.
“We are now moving from the industrial age to the intelligent age, but there's one big difference,” said Klaus Schwab, chairman of the board of trustees at the World Economic Forum.
“Where we had several generations to adapt, this transition is happening at exponential speed. It's a transition to a new time, which will change everything - how we communicate, how we work and how we live.
“Governments have to be enablers of this change at lightning speech, to provide the necessary infrastructure and to co-operate with business. Transition into this new intelligent age will only be mastered if all human society works together.”
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
The biog
Nickname: Mama Nadia to children, staff and parents
Education: Bachelors degree in English Literature with Social work from UAE University
As a child: Kept sweets on the window sill for workers, set aside money to pay for education of needy families
Holidays: Spends most of her days off at Senses often with her family who describe the centre as part of their life too
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
UAE currency: the story behind the money in your pockets
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Series result
1st ODI Zimbabwe won by 6 wickets
2nd ODI Sri Lanka won by 7 wickets
3rd ODI Sri Lanka won by 8 wickets
4th ODI Zimbabwe won by 4 wickets
5th ODI Zimbabwe won by 3 wickets
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
New UK refugee system
- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
- Refugees will have a reduced right to public funds
COMPANY%20PROFILE
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Coal Black Mornings
Brett Anderson
Little Brown Book Group
Company%C2%A0profile
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