President Sheikh Mohamed bin Zayed (L) with UAE Vice President and Ruler of Dubai, Sheikh Mohammed bin Rashid, at Al Mushrif Palace in UAE. Abdulla Al Junaibi for the Ministry of Presidential Affairs
President Sheikh Mohamed bin Zayed (L) with UAE Vice President and Ruler of Dubai, Sheikh Mohammed bin Rashid, at Al Mushrif Palace in UAE. Abdulla Al Junaibi for the Ministry of Presidential Affairs
President Sheikh Mohamed bin Zayed (L) with UAE Vice President and Ruler of Dubai, Sheikh Mohammed bin Rashid, at Al Mushrif Palace in UAE. Abdulla Al Junaibi for the Ministry of Presidential Affairs
Insight and opinion from The National’s editorial leadership
May 14, 2022
The rulers of all seven of the UAE's constituent emirates gathered at Mushrif Palace in Abu Dhabi on Saturday to discharge one of their most important national duties: the election of a new president. With Sheikh Khalifa bin Zayed's passing on Friday, the union entered a period of mourning. The death of the president and ruler of Abu Dhabi brought senior figures from around the country to the capital to pay their respects, and to reflect on his legacy. According to the country's Constitution, the Federal Supreme Council, made up of the rulers of the seven emirates, is expected to elect the new president, and it has unanimously chosen Sheikh Mohamed bin Zayed Al Nahyan.
"For many years, the people of the UAE have loved him," wrote Sheikh Mohammed bin Rashid, Vice President, Prime Minister and Ruler of Dubai, after the decision. "They loved him for his generosity, kindness and compassion for his people.”
All of these qualities have defined Sheikh Mohamed's years of service to Abu Dhabi and to the Emirates as a whole. For 18 years, Sheikh Mohamed was Abu Dhabi's Crown Prince, and during that time he helped his brother, the late Sheikh Khalifa, transform the emirate into a highly developed society that looked after all of its people, citizens and foreign residents, with extraordinary care, in line with the vision of their father Sheikh Zayed, the UAE's founding father. The growth of Abu Dhabi's economy, fuelled by modernisation initiatives that emphasised openness and catalysed the global success of its sovereign wealth funds, dramatically elevated quality of life and ensured that the emirate's great wealth was re-invested in ways that would make it stronger for decades to come.
His leadership helped transform the emirate into a highly developed society that looked after all of its people, citizens and foreign residents, with extraordinary care
The UAE has grown stronger, too. During Sheikh Mohamed's time as Deputy Supreme Commander of the UAE Armed Forces, the country's military has become a sophisticated institution, capable of not only safeguarding the country from foreign threats, but also delivering humanitarian aid to other parts of the region. Sheikh Mohamed has spoken often of the need for the Emirates to be a beacon of stability, tolerance and worldliness for the region, and through his leadership that goal has increasingly been realised, evidenced by a host of achievements on the world stage, including hosting the Special Olympic, the launch of the Hope Mars mission, the signing of the landmark Abraham Accords and, looking forward, the preparations for hosting Cop28 next year.
With Sheikh Mohamed's influence, the UAE has cultivated a truly unique society, where traditional values are respected, but also made to work in harmony with a modern, agile and forward-looking society. The country's agenda is ambitious - especially as it enters the second half of its century. Recent successes in environmentalism, human rights, food security, education and economic diversification will be the staging grounds for unlocking its full potential for future generations. Under Sheikh Mohamed's leadership, the UAE can continue to push forward with full confidence.
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
COMPANY PROFILE
Name: Mamo Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua Based: Dubai, UAE Number of employees: 28 Sector: Financial services Investment: $9.5m Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors.
Winner: Art Du Val, William Buick, Charlie Appleby
8.50pm: Balanchine Group 2 (TB) | $250,000 (T) | 1,800m
Winner: Poetic Charm, William Buick, Charlie Appleby
9.25pm: Handicap (TB) | $135,000 (D) | 1,200m
Winner: Lava Spin, Richard Mullen, Satish Seemar
10pm: Handicap (TB) | $175,000 (T) | 2,410m
Winner: Mountain Hunter, Christophe Soumillon, Saeed bin Suroor
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
Who has lived at The Bishops Avenue?
George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
Land was originally the Bishop of London's hunting park, hence the name
The road was laid out in the mid 19th Century, meandering through woodland and farmland
Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
Results
6.30pm: Mazrat Al Ruwayah Group Two (PA) US$55,000 (Dirt) 1,600m; Winner: Rasi, Harry Bentley (jockey), Sulaiman Al Ghunaimi (trainer).
7.05pm: Meydan Trophy (TB) $100,000 (Turf) 1,900m; Winner: Ya Hayati, William Buick, Charlie Appleby.
