In the beginning it was pearls, the sea’s bounty that brought work for many and great fortunes for a few.
Pearls from the Arabian Gulf were desired all over the world, from the Mughal jewellery workshops of India to the necks of European aristocracy.
The collapse of the industry in the 1930s, caused by the Great Depression and the arrival of cheap Japanese cultured pearls, caused economic hardship.
People made what living they could, sometimes by drying fish on the sand to sell as fertiliser. Mostly they existed by subsistence, with hunger never far away. Many left to find work elsewhere.
Oil saved the day. Suddenly, the UAE was wealthy beyond imagining, with the decades that followed the first exports in the early 1960s a time of unprecedented economic growth when villages became towns and towns turned into cities.
Streets filled with imported cars and the new shopping malls rushed to stock all the major international brand names.
As the UAE's economy grew, so did home-grown enterprises.
Dubai Dry Docks is an example. Opened in 1983, it has repaired thousands of ships, but also built dozens of projects, many for the offshore oil and gas industry, including a floating crane capable of lifting 2,000 tonnes.
Even earlier is the aluminium plant visible to anyone who has driven along the Sheikh Zayed Road.
Established in 1975 as Dubai Aluminium, it began production four years later with an official opening by Britain's Queen Elizabeth II during her state visit to the UAE in 1979.
In 2019, the company celebrated its 40th year of production, now supporting 60,000 jobs and renamed Emirates Global Aluminium after merging with Emirates Aluminium in 2013.
Another home grown success story is RAK Ceramics. Founded in 1989, the company is one of the largest ceramic companies in the world, even if many international consumers may not realise RAK stands for Ras Al Khaimah.
Even names associated with foreign brands can actually carry the “Made in the UAE” label.
Dubai Refreshment Company was set up in 1959, and more than 60 years later produces millions of cans and bottle of soft drinks from Pepsi Cola to Lipton Iced Tea and Aquafina water.
Just down the road, the Nestle plant in Jebel Ali turns out more than a billion KitKat bars each year, a production line that started in 2010 and includes Quality Street chocolates, Maggi Products and Nido powdered milk.
In the past two decades, the name of the game has been diversification, moving the country’s economy away from oil and gas and creating a skilled Emirati workforce, supporting thriving local industries.
Some are large, like Strata, founded by UAE investment company Mubadala in 2009 in Al Ain.
It is a manufacturer of world-class aviation components and continually expanding, even in the past year as a supplier as medical grade masks in the fight against the coronavirus.
Almost half the Strata workforce are young Emirati women.
Precision manufacturing is also key to the success of Caracal, founded in 2007 and named after the wildcat.
Caracal pistols are the first to be designed and made in the UAE. As well as supplying the Armed Forces they are exported.
A very different product comes from Camelicious, which harnesses one of the country’s most important natural resources – camel's milk.
Originally a research laboratory in Dubai examining the benefits of camel's milk, Camelicious now makes a range of products that include long life milk and ice cream, sold even in British supermarkets.
Separately, Al Nassma produces chocolate bars made using camel's milk, while Chocodate has shared another UAE secret with the world by taking dates and coating them in chocolate.
In Ajman, Italian Dairy Products uses milk from Emirati cows to produce authentic mozzarella, while last year W Motors broke ground on a Dh370 million ($101m) manufacturing facility that will focus production of its Lykan supercars in Dubai Silicon Oasis.
The future will extend to even more cutting edge technologies. Al Yah Satellite Communications, another Mubadala project offers satellite TV and internet to dozens of countries, but thanks to an agreement with last month Tawazun Economic Council, will develop advanced satellite and communication technology – and truly a global reach for Made in the UAE.
Opening Rugby Championship fixtures:Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)
No_One Ever Really Dies
N*E*R*D
(I Am Other/Columbia)
The%20US%20Congress%20explained
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As You Were
Liam Gallagher
(Warner Bros)
Company%20Profile
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Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
The Bio
Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
More from Rashmee Roshan Lall
The specs
Common to all models unless otherwise stated
Engine: 4-cylinder 2-litre T-GDi
0-100kph: 5.3 seconds (Elantra); 5.5 seconds (Kona); 6.1 seconds (Veloster)
Power: 276hp
Torque: 392Nm
Transmission: 6-Speed Manual/ 8-Speed Dual Clutch FWD
Price: TBC
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
Results
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