DUBAI // Electric vehicles are a strategic priority for some European countries, with governments offering incentives for drivers and investing in charging infrastructure as a way to speed up adoption rates by the public.
Among the nations with the most advantages for electric car owners is Norway, which also has the highest per capita market share in the world.
There are currently 40,000 electric cars on Norway’s roads with the number expected to grow to 50,000 next year. About 80 per cent of the plug-in cars are privately owned, while the country’s overall conventional vehicle fleet is estimated at 2.9 million, said Tom Norbech, senior adviser at Transnova, a government funding programme.
Support for zero-emission cars has existed since the 1990s, partly as a way to create incentives for the Norwegian car builder, TH!NK. The company eventually went bankrupt in 2011 but Norway has continued to promote ownership of electric cars as a way to reduce its greenhouse emissions – hydropower provides about 80 per cent of the country’s electricity.
Over time, incentives for electric vehicle owners have grown to include exemptions from road toll and value added tax, free public parking, use of priority bus lanes and other benefits.
At the same time, the country is providing the infrastructure to support the large electric fleet and currently has almost 6,000 charging points.
“We believe the incentives and the charging infrastructure are important. They go hand-in-hand,” said Mr Norbech.
Commenting on what the UAE could learn from Norway’s experience, he said that cheap petrol prices and high purchasing power in large segments of the population made the Emirates a special case. While financial incentives may not have the same effect here, advantages that contribute to drivers’ convenience, for example by ensuring faster journeys, could work.
“I would advise to think, to be creative and look what kind of practical advantages can be given to people,” Mr Norbech said.
Besides government support, another factor that could speed up adoption is improvements in car battery technologies that extend the range of electric cars, said Heikki Parve, programme specialist at KredEx, the government agency that operates Estonia’s electric vehicle charging network.
“The range today is an obstacle,” Mr Parve said. “You can drive 100 to 120 kilometres and in our winter climate it is less.”
Despite this issue, last year Estonia became the first country to create a nationwide network of 165 fast-charging stations, installed in towns and villages and covering a minimum distance of 40 to 60 kilometres along the country’s highways. The system has 1,100 clients.
The country of 1.3 million people is also offering a subsidy of 50 per cent of the cost of an electric car, capped at €18,000 (Dh18,673). For owners, electric vehicles are also cheaper to operate, said Mr Parve. Charging costs as little as €2.5 with monthly packages offering unlimited charging for just €30.
vtodorova@thenational.ae
Naga
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Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
The five pillars of Islam
Citizenship-by-investment programmes
United Kingdom
The UK offers three programmes for residency. The UK Overseas Business Representative Visa lets you open an overseas branch office of your existing company in the country at no extra investment. For the UK Tier 1 Innovator Visa, you are required to invest £50,000 (Dh238,000) into a business. You can also get a UK Tier 1 Investor Visa if you invest £2 million, £5m or £10m (the higher the investment, the sooner you obtain your permanent residency).
All UK residency visas get approved in 90 to 120 days and are valid for 3 years. After 3 years, the applicant can apply for extension of another 2 years. Once they have lived in the UK for a minimum of 6 months every year, they are eligible to apply for permanent residency (called Indefinite Leave to Remain). After one year of ILR, the applicant can apply for UK passport.
The Caribbean
Depending on the country, the investment amount starts from $100,000 (Dh367,250) and can go up to $400,000 in real estate. From the date of purchase, it will take between four to five months to receive a passport.
Portugal
The investment amount ranges from €350,000 to €500,000 (Dh1.5m to Dh2.16m) in real estate. From the date of purchase, it will take a maximum of six months to receive a Golden Visa. Applicants can apply for permanent residency after five years and Portuguese citizenship after six years.
“Among European countries with residency programmes, Portugal has been the most popular because it offers the most cost-effective programme to eventually acquire citizenship of the European Union without ever residing in Portugal,” states Veronica Cotdemiey of Citizenship Invest.
Greece
The real estate investment threshold to acquire residency for Greece is €250,000, making it the cheapest real estate residency visa scheme in Europe. You can apply for residency in four months and citizenship after seven years.
Spain
The real estate investment threshold to acquire residency for Spain is €500,000. You can apply for permanent residency after five years and citizenship after 10 years. It is not necessary to live in Spain to retain and renew the residency visa permit.
Cyprus
Cyprus offers the quickest route to citizenship of a European country in only six months. An investment of €2m in real estate is required, making it the highest priced programme in Europe.
Malta
The Malta citizenship by investment programme is lengthy and investors are required to contribute sums as donations to the Maltese government. The applicant must either contribute at least €650,000 to the National Development & Social Fund. Spouses and children are required to contribute €25,000; unmarried children between 18 and 25 and dependent parents must contribute €50,000 each.
The second step is to make an investment in property of at least €350,000 or enter a property rental contract for at least €16,000 per annum for five years. The third step is to invest at least €150,000 in bonds or shares approved by the Maltese government to be kept for at least five years.
Candidates must commit to a minimum physical presence in Malta before citizenship is granted. While you get residency in two months, you can apply for citizenship after a year.
Egypt
A one-year residency permit can be bought if you purchase property in Egypt worth $100,000. A three-year residency is available for those who invest $200,000 in property, and five years for those who purchase property worth $400,000.
Source: Citizenship Invest and Aqua Properties
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Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Retail gloom
Online grocer Ocado revealed retail sales fell 5.7 per cen in its first quarter as customers switched back to pre-pandemic shopping patterns.
It was a tough comparison from a year earlier, when the UK was in lockdown, but on a two-year basis its retail division, a joint venture with Marks&Spencer, rose 31.7 per cent over the quarter.
The group added that a 15 per cent drop in customer basket size offset an 11.6. per cent rise in the number of customer transactions.
RESULTS
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MATCH INFO
Newcastle 2-2 Manchester City
Burnley 0-2 Crystal Palace
Chelsea 0-1 West Ham
Liverpool 2-1 Brighton
Tottenham 3-2 Bournemouth
Southampton v Watford (late)
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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Rating: 3/5