AL AIN // Ten road projects amounting to a cost of Dh1.2 billion in Al Ain have been announced by the municipality.
The plan involves 10 main projects to convert 18 roundabouts into intersections with traffic lights, construct six tunnels and five bridges, and build dual carriageways, in addition to other expansions, reported Al Ittihad, the Arabic-language sister paper of The National.
The first of the projects will be the development of Eastern Road in Hili Khalifa area, between Al Qattara and Al Foah roundabouts. It is expected to cost Dh120 million.
The three-kilometre stretch from Al Qattara to Ndood Jham will be expanded into three lanes in every direction, said Nasser Al Aryani, director of the Internal Roads and Infrastructure Department at Al Ain City Municipality.
The 8km stretch from Ndood Jham to Al Foah will become a two-lane road in every direction and the Khurais, Sulaimi and Qattara roundabouts will be converted into intersections with traffic lights, he added.
newsdesk@thenational.ae
TICKETS
Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.
WHAT START-UPS IS VISA SEEKING?
Enablers of digital services
• Blockchain and cryptocurrency
• Crowdfunding
• Banking-as-a-service
• Banking identification number sponsors
• Issuers/processors
• Programme managers
Digital issuance
• Blockchain and cryptocurrency
• Alternative lending
• Personal financial management
• Money transfer and remittance
• Digital banking (neo banks)
• Digital wallets, peer-to-peer and transfers
• Employee benefits
• Payables
• Corporate cards
Value-add for merchants/consumers
• Data and analytics
• ID, authentication and security
• Insurance technology
• Loyalty
• Merchant services and tools
• Process and payment infrastructure
• Retail technology
SME recovery
• Money movement
• Acceptance
• Risk management
• Brand management
New categories for 2023
• Sustainable FinTechs
• Risk
• Urban mobility
MATA
Artist: M.I.A
Label: Island
Rating: 3.5/5
The specs
Engine: 8.0-litre, quad-turbo 16-cylinder
Transmission: 7-speed auto
0-100kmh 2.3 seconds
0-200kmh 5.5 seconds
0-300kmh 11.6 seconds
Power: 1500hp
Torque: 1600Nm
Price: Dh13,400,000
On sale: now
How to invest in gold
Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.
A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).
Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.
Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”
Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”
Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”
By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.
You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.
You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.
Explained
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE
Edinburgh: November 4 (unchanged)
Bahrain: November 15 (from September 15); second daily service from January 1
Kuwait: November 15 (from September 16)
Mumbai: January 1 (from October 27)
Ahmedabad: January 1 (from October 27)
Colombo: January 2 (from January 1)
Muscat: March 1 (from December 1)
Lyon: March 1 (from December 1)
Bologna: March 1 (from December 1)
Source: Emirates
Four scenarios for Ukraine war
1. Protracted but less intense war (60% likelihood)
2. Negotiated end to the conflict (30%)
3. Russia seizes more territory (20%)
4. Ukraine pushes Russia back (10%)
Forecast by Economist Intelligence Unit
While you're here
Film: In Syria
Dir: Philippe Van Leeuw
Starring: Hiam Abbass, Diamand Bo Abboud, Mohsen Abbas and Juliette Navis
Verdict: Four stars
The specs: Aston Martin DB11 V8 vs Ferrari GTC4Lusso T
Price, base: Dh840,000; Dh120,000
Engine: 4.0L V8 twin-turbo; 3.9L V8 turbo
Transmission: Eight-speed automatic; seven-speed automatic
Power: 509hp @ 6,000rpm; 601hp @ 7,500rpm
Torque: 695Nm @ 2,000rpm; 760Nm @ 3,000rpm
Fuel economy, combined: 9.9L / 100km; 11.6L / 100km
Company Profile
Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices
If you go
The flights
Etihad (etihad.com) flies from Abu Dhabi to Luang Prabang via Bangkok, with a return flight from Chiang Rai via Bangkok for about Dh3,000, including taxes. Emirates and Thai Airways cover the same route, also via Bangkok in both directions, from about Dh2,700.
The cruise
The Gypsy by Mekong Kingdoms has two cruising options: a three-night, four-day trip upstream cruise or a two-night, three-day downstream journey, from US$5,940 (Dh21,814), including meals, selected drinks, excursions and transfers.
The hotels
Accommodation is available in Luang Prabang at the Avani, from $290 (Dh1,065) per night, and at Anantara Golden Triangle Elephant Camp and Resort from $1,080 (Dh3,967) per night, including meals, an activity and transfers.
Price, base / as tested From Dh173,775 (base model)
Engine 2.0-litre 4cyl turbo, AWD
Power 249hp at 5,500rpm
Torque 365Nm at 1,300-4,500rpm
Gearbox Nine-speed auto
Fuel economy, combined 7.9L/100km
65
Directors: Scott Beck, Bryan Woods
Stars: Adam Driver, Ariana Greenblatt, Chloe Coleman
Rating: 2/5
The Freedom Artist
By Ben Okri (Head of Zeus)
Women’s T20 World Cup Qualifier
UAE fixtures
25 April – Ireland v UAE*
27 April – UAE v Zimbabwe**
29 April – Netherlands v UAE*
3 May – UAE v Vanuatu*
5 May – Semi-finals
7 May – Final
UAE squad: Esha Oza (captain), Al Maseera Jahangir, Avanee Patel, Heena Hotchandani, Indhuja Nandakumar, Kavisha Kumari, Khushi Sharma, Lavanya Keny, Mehak Thakur, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Suraksha Kotte, Theertha Satish, Vaishnave Mahesh.
*Zayed Cricket Stadium
**Tolerance Oval
TV: World Cup Qualifier 2018 matches will be aired on on OSN Sports HD Cricket channel
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
MEDIEVIL (1998)
Developer: SCE Studio Cambridge
Publisher: Sony Computer Entertainment
Console: PlayStation, PlayStation 4 and 5
Rating: 3.5/5
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
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
Paris Agreement
Article 14
1. [The Cop] shall periodically take stock of the implementation of this Agreement to assess the collective progress towards achieving the purpose of this Agreement and its long-term goals (referred to as the "global stocktake")
2. [The Cop] shall undertake its first global stocktake in 2023 and every five years thereafter