Even as Covid-19 continues to wreak havoc among us, disrupting lives, breaking businesses and stressing society, governments and businesses must focus ahead.
Yes, we do not know all the outcomes and yes, we do not know the chronology, but we can manage uncertainty.
More important is what we do know: that our lives and welfare depend on getting the global economy up and running again as soon as possible.
Already last month – in the midst of the unfolding crisis – Danish Foreign Minister Jeppe Kofod reached out to his Emirati colleague, Sheikh Abdullah bin Zayed, to express his hopes for the UAE's speedy recovery and to underline the importance of getting the global economy back on track.
He pointed to the critical role the UAE plays as a hub for international passenger and cargo traffic. Denmark very much hopes to see all airlines resuming at least a skeleton of operations as soon as possible.
But the UAE’s role in the global economy is much more than just its airports. The UAE plays a key role for shipping between Europe, Asia and Africa, providing logistical services that keep value chains together and ensuring the vital networks linking suppliers and buyers that our economies depend so much upon.
Through a focused effort, port operators in the UAE have remained open for international shipping with hardly any disruptions to services — a success story for the country and for the world economy.
Still, there is more work to do for all of us. There is no denying that we are facing a global recession, but we must become the masters and not the victims of the situation.
Smart government policies supporting a dynamic and responsive business community are the best way to regain what has been lost. Governments can help this by pressing forward with reforms that ease doing business.
They can instil confidence in their businesses through public spending and investment.
The UAE is leading the way in efforts to diversify its economy. The current crisis underlines the importance of that agenda and the need to find ways to support the non-oil business community, so that the UAE can retain its position as the business hub of the Arab world. That oil prices have dropped dramatically does not make any of this easier.
Fortunately, wise fiscal policies give the UAE the necessary economic strength.
At the same time, the crisis also offers us opportunities to invest in the future. In Europe, a large part of the economic stimulus packages will be directed towards facilitating change and paving the way for business opportunities within the digital economy.
The UAE has impressed in the way it has successfully managed the coronavirus crisis – not only through swift and decisive action but also by quickly building new infrastructure and testing facilities, as well as investing in the development of possible treatment and vaccines at home and internationally.
Even more impressively, the UAE found time and resources to reach out to less fortunate countries with help, sending critical equipment and helping finance international relief efforts.
The next step will likely be a comprehensive exit strategy that will allow businesses to plan for the easing of restrictions and normalisation of economic life.
Like the UAE, Denmark has also been very successful in controlling the spread of coronavirus and is now gradually reopening its economy, schools, kindergartens, etc. This is, of course, a positive step for Denmark, but it is far from enough.
Just like the UAE, Denmark’s economy is woven into the very fabric of the global economy. There is no true success for either country before the global economy recovers.
We must bear in mind that this is not the time to end globalisation or restrict the exchange of people, ideas or opportunities.
These are exactly the strengths that will allow the world to defeat coronavirus sooner rather than later.
The world now needs to co-operate even closer to emerge stronger, together. Let’s start today.
Franz-Michael Skjold Mellbin is the Ambassador of Denmark to the UAE
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At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
The specs: 2018 Maserati Levante S
Price, base / as tested: Dh409,000 / Dh467,000
Engine: 3.0-litre V6
Transmission: Eight-speed automatic
Power: 430hp @ 5,750rpm
Torque: 580Nm @ 4,500rpm
Fuel economy, combined: 10.9L / 100km
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
Company Profile
Company name: Yeepeey
Started: Soft launch in November, 2020
Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani
Based: Dubai
Industry: E-grocery
Initial investment: $150,000
Future plan: Raise $1.5m and enter Saudi Arabia next year
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
How to report a beggar
Abu Dhabi – Call 999 or 8002626 (Aman Service)
Dubai – Call 800243
Sharjah – Call 065632222
Ras Al Khaimah - Call 072053372
Ajman – Call 067401616
Umm Al Quwain – Call 999
Fujairah - Call 092051100 or 092224411
UAE currency: the story behind the money in your pockets
Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
The Beach Bum
Director: Harmony Korine
Stars: Matthew McConaughey, Isla Fisher, Snoop Dogg
Two stars
Profile of Tamatem
Date started: March 2013
Founder: Hussam Hammo
Based: Amman, Jordan
Employees: 55
Funding: $6m
Funders: Wamda Capital, Modern Electronics (part of Al Falaisah Group) and North Base Media
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
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