Many of the ambitious plans of Sheikh Rashid bin Saeed, the late father of modern Dubai, have not just been ushered into reality by his son, Sheikh Mohammed, but achieved in a way that exceeded the original brief. The Dubai Water Canal, which involves a new 12km-long waterway from the head of Dubai Creek to the Arabian Gulf, was first proposed by Sheikh Rashid as part of this 1959 decision to dredge Dubai Creek, a visionary move that kickstarted the emirate’s ascent into the modern metropolis we know today.
The canal's inauguration adds another attraction for tourists, 30 million of whom are expected to visit it each year, offers the prospect of waterside living for thousands and will also improve the water quality in Dubai Creek. Those who once exercised in Safa Park, part of which was taken for the canal, can now run 24km along its banks without having to cross a road. This is one vision that has become a dream.
Company Profile
Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government
Six pitfalls to avoid when trading company stocks
Following fashion
Investing is cyclical, buying last year's winners often means holding this year's losers.
Losing your balance
You end up with too much exposure to an individual company or sector that has taken your fancy.
Being over active
If you chop and change your portfolio too often, dealing charges will eat up your gains.
Running your losers
Investors hate admitting mistakes and hold onto bad stocks hoping they will come good.
Selling in a panic
If you sell up when the market drops, you have locked yourself out of the recovery.
Timing the market
Even the best investor in the world cannot consistently call market movements.
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
How to donate
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
COMPANY PROFILE
Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside
Medicus AI
Started: 2016
Founder(s): Dr Baher Al Hakim, Dr Nadine Nehme and Makram Saleh
Based: Vienna, Austria; started in Dubai
Sector: Health Tech
Staff: 119
Funding: €7.7 million (Dh31m)
MATCH INFO
Uefa Nations League
League A, Group 4
Spain v England, 10.45pm (UAE)
Frida
Director: Carla Gutierrez
Starring: Frida Kahlo
Rating: 4/5
