DUBAI // Aerial drones could be used to deliver vital documents and medicines within a year.
Two prototypes of the small, unmanned craft were unveiled at the Government Summit on Monday.
Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, personally attended the pilot tests, according to state news agency Wam.
“What these things are best suited for is delivery of small, light value things that are time sensitive, like medicines, identification documents, vital papers and things of that nature,” said Dr Noah Raford, special adviser to the Office of the Prime Minister, Sheikh Mohammed bin Rashid.
Commercial and civilian use of drones is growing worldwide. In the UAE, they are available in shops and increasingly used for recreational photography.
Dr Raford said the battery-operated drones, which could cost as little as Dh4,000, could fly for up to three kilometres at 40kph and carry objects weighing up to 1.5kg.
"Prices are dropping as technology advances. One part of the reason we are exploring this is because economic and technological feasibility are coming together to deliver high-class services.
“I have seen so many of these things in my friends’ and colleagues’ homes. A year ago when I was speaking about drones and flying vehicles, everyone thought I was crazy. Now, everyone has one in their house. There has been an exponential decrease in price and an exponential increase in usability.”
Mohammed Al Gergawi, the Minister of Cabinet Affairs, said the drones would be tested for durability and efficiency in Dubai for six months and introduced within a year.
“Technology is moving very fast. Largely like any design, this is an experimental process and we are testing various ideas and options and looking to explore how they will be useful, and making sure we can cover some of the contingencies so we can use them some day for government delivery.”
Abdulrahman Alserkal, the Emirati engineer who designed the project, said fingerprint and eye-recognition security systems would protect the drones and their cargo.
Dr Raford said the UAE would be able to use drones for civilian purposes, unlike in other countries where they had run into problems.
“The issues are not technical but regulatory. We have lot more freedom to design a regulatory system that is safe and responsible and achieves the 21st-century goal to deliver advanced services.”
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How to keep control of your emotions
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.
Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.
Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
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