Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister and Ruler of Dubai, has endorsed the Route 2020 Project, encompassing the extension of the Red Line of the Dubai Metro from Nakheel Harbour and Tower Metro Station to the site of Expo 2020. Courtesy RTA
Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister and Ruler of Dubai, has endorsed the Route 2020 Project, encompassing the extension of the Red Line of the Dubai Metro from NakheeShow more

Dubai Metro’s Red Line to get seven new stations for Expo 2020



DUBAI // The Dubai Metro will be extended by 15 kilometres, with seven new stations leading to the site of Expo 2020 and 4km of underground rail.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, on Saturday approved the Route 2020 project for the Metro Red Line and ordered that the building start immediately.

Sheikh Mohammed said the project must be finished in time to cater for the increased number of passengers expected for Expo 2020, which will take place in the region for the first time.

The total length of the Dubai Metro, red and green lines, will be increased to 90km. Two of the seven new stations, from Nakheel Harbour and Tower Metro to the Expo site, will be underground.

“The construction of Route 2020 project conforms to the strategic vision of the Dubai Government for achieving sustainable development, and developing a world-class infrastructure and services,” said Mattar Al Tayer, chairman and executive director of the Roads and Transport Authority.

“It also comes as implementation of RTA’s master plan for providing multiple options of integrated mass transit comprising the Metro, tram, buses and water transport towards realising RTA’s vision of safe and smooth transport for all.

“The RTA has mapped out an integrated plan for roads and transport projects to serve Expo highlighted by Route 2020 project.”

Mr Al Tayer said the plan was for a sustainable project to serve the city during and after Expo 2020.

“It also serves the largest possible number of residents as well as current and future projects, easing snarls on some congested roads, providing top-class service to targeted communities and integrating with public transit systems and the roads network in the emirate.”

Route 2020 will serve the Gardens, Discovery Gardens, Furjan, Jumeirah Golf Estates, and Dubai Investments Park, which are home to about 240,000 people.

A journey from Dubai Marina to the site of Expo will take 16 minutes, Mr Al Tayer said.

He said the RTA was due to hold a workshop this month for consultants and contractors specialised in rail projects, to show parts of the Route 2020 project.

The project is expected to be released for tenders in July.

newsdesk@thenational.ae

THE DETAILS

Solo: A Star Wars Story

Director: Ron Howard

2/5

The Killer

Director: David Fincher

Stars: Michael Fassbender, Tilda Swinton, Charles Parnell

Rating: 4/5 

Racecard

5pm: Al Maha Stables – Maiden (PA) Dh80,000 (Turf) 1,400m
5.30pm: Al Anoud Stables – Handicap (PA) Dh80,000 (T) 1,200m
6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,400m
6.30pm: Arabian Triple Crown Round 2 – Group 3 (PA) Dh 300,000 (T) 2,200m
7pm: Liwa Oasis – Group 2 (PA) Dh300,000 (T) 1,400m
7.30pm: Dames Stables – Handicap (TB) Dh80,000 (T) 1,400m

The Specs:

The Specs:

Engine: 2.9-litre, V6 twin-turbo

Transmission: 8-speed automatic

Power: 444bhp

Torque: 600Nm

Price: AED 356,580 incl VAT

On sale: now.

The Crown season 5

Stars: Imelda Staunton, Jonathan Pryce, Lesley Manville, Jonny Lee Miller, Dominic West, Elizabeth Debicki, Salim Daw and Khalid Abdalla

Written by: Peter Morgan

Rating: 4/5 stars

The specs

Engine: 2.0-litre 4-cylturbo

Transmission: seven-speed DSG automatic

Power: 242bhp

Torque: 370Nm

Price: Dh136,814

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants

Boulder shooting victims

• Denny Strong, 20
• Neven Stanisic, 23
• Rikki Olds, 25
• Tralona Bartkowiak, 49
• Suzanne Fountain, 59
• Teri Leiker, 51
• Eric Talley, 51
• Kevin Mahoney, 61
• Lynn Murray, 62
• Jody Waters, 65

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

While you're here
EMILY IN PARIS: SEASON 3

Created by: Darren Star

Starring: Lily Collins, Philippine Leroy-Beaulieu, Ashley Park

Rating: 2.75/5

SPECS

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

The Transfiguration

Director: Michael O’Shea

Starring: Eric Ruffin, Chloe Levine

Three stars

COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

UAE currency: the story behind the money in your pockets
The specs: 2018 Maserati Ghibli

Price, base / as tested: Dh269,000 / Dh369,000

Engine: 3.0-litre twin-turbocharged V6

Transmission: Eight-speed automatic

Power: 355hp @ 5,500rpm

Torque: 500Nm @ 4,500rpm

Fuel economy, combined: 8.9L / 100km

THE LOWDOWN

Photograph

Rating: 4/5

Produced by: Poetic License Motion Pictures; RSVP Movies

Director: Ritesh Batra

Cast: Nawazuddin Siddiqui, Sanya Malhotra, Farrukh Jaffar, Deepak Chauhan, Vijay Raaz

COMPANY PROFILE

Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends

ON TRACK

The Dubai Metaverse Assembly will host three main tracks:

Educate: Consists of more than 10 in-depth sessions on the metaverse

Inspire: Will showcase use cases of the metaverse in tourism, logistics, retail, education and health care

Contribute: Workshops for metaverse foresight and use-case reviews

The specs

Engine: 2.3-litre 4cyl turbo
Power: 299hp at 5,500rpm
Torque: 420Nm at 2,750rpm
Transmission: 10-speed auto
Fuel consumption: 12.4L/100km
On sale: Now
Price: From Dh157,395 (XLS); Dh199,395 (Limited)

Monster Hunter: World

Capcom

PlayStation 4, Xbox One

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

In numbers

Number of Chinese tourists coming to UAE in 2017 was... 1.3m

Alibaba’s new ‘Tech Town’  in Dubai is worth... $600m

China’s investment in the MIddle East in 2016 was... $29.5bn

The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn

Boost to the UAE economy of 5G connectivity will be... $269bn 

12 restaurants opening at the hotel this month

Ariana’s Persian Kitchen
Dinner by Heston Blumenthal
Estiatorio Milos
House of Desserts
Jaleo by Jose Andres
La Mar
Ling Ling
Little Venice Cake Company
Malibu 90265
Nobu by the Beach
Resonance by Heston Blumenthal
The Royal Tearoom 

Scoreline:

Cardiff City 0

Liverpool 2

Wijnaldum 57', Milner 81' (pen)

If you go...

Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.

Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50

The years Ramadan fell in May

1987

1954

1921

1888

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

ANDROID VERSION NAMES, IN ORDER

Android Alpha

Android Beta

Android Cupcake

Android Donut

Android Eclair

Android Froyo

Android Gingerbread

Android Honeycomb

Android Ice Cream Sandwich

Android Jelly Bean

Android KitKat

Android Lollipop

Android Marshmallow

Android Nougat

Android Oreo

Android Pie

Android 10 (Quince Tart*)

Android 11 (Red Velvet Cake*)

Android 12 (Snow Cone*)

Android 13 (Tiramisu*)

Android 14 (Upside Down Cake*)

Android 15 (Vanilla Ice Cream*)

* internal codenames

TO CATCH A KILLER

Director: Damian Szifron

Stars: Shailene Woodley, Ben Mendelsohn, Ralph Ineson

Rating: 2/5


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