New rules that require paid social media influencers to secure a licence will bring integrity to an unregulated market, legal figures and influencers said.
From failing to deliver on business agreements to using followers that have been bought, the industry has its rogue elements, insiders said as they welcomed the decision to regulate the sector.
“It is good for the brand and creative agencies that are engaging the influencers, and the influencers themselves," said Hannah McKinlay, principal at the ADGM licensed law firm Support Legal.
"It brings more integrity and transparency to the industry."
On Tuesday, the National Media Council said social media businesses that accept money to promote or sponsor content online would need a licence to operate, including influencers.
That will not extend to those who accept free products or meals, meaning reviewers and bloggers will not need a licence unless cash is involved.
Ms McKinlay said the UAE would be among the first countries to regulate the industry, “one that is moving and developing very rapidly, making it hard for lawmakers and regulators [around the world] to keep up with”.
She said the informal nature of the industry, such as promoting luxury brands or travel in short self-shot videos, has led to unreliability.
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UAE's paid social media influencers will need licence under new media rules
Social media influencers: what are they and how do they stay on the right side of the law?
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"We have seen situations in the past where brands and creative agencies have gone to a lot of effort to engage with these influencers and then the influencers just disappear and don’t stick to the guidelines or the requirements.
"It is very difficult for the agencies to follow up on these individuals who disappear."
The lawyer said she hopes the end result is a reliable "a register of licensed influencers which people can look to to promote their products and services".
Saygin Yalcin is the Dubai-based founder and chief executive of the sucessful e-commerce business SellAnyCar.com, but has more than 400,000 followers on his personal account.
Until now the regulations surrounding what can be marketed online has been "pretty broad".
"I believe it is necessary to understand that this is a profession that wasn't regulated at all so [the licence] gives it credibility," he told The National.
“Being an influencer per se doesn’t require a licence. Conducting a business as an influencer does - and you are making money so you can afford the fees."
The media council is yet to announce the cost of securing a licence.
Helen Farmer runs the Instagram account The Mothership, which focuses on parenting and her own experience raising her children. She already has her own trade licence.
She said businesses are getting more “savvy” about detecting accounts with bought likes and fake followers, but also said regulation benefits all professionals.
"Hopefully with the regulations, people will be discouraged from [trying to use fake followers] because we will all be taking it a little bit more seriously," she said.
"I also think and hope that brands and agencies are now looking into software that weed that out as well.
"Hopefully that will be improving within the next few months but there generally needs to be more transparency.
"If you are charging for a service, then you need to share your analytics.
"Anyone considering spending with an influencer should be absolutely asking for demographics and reach before any money is exchanged like any business transaction."
Dr Rashid Al Nuaimi, the media council's executive director of media affairs, said: “The electronic activities that must be licensed are the sites used for trading, showcasing and selling print, video, and audio materials, online and digital publishing activities, and on-call printing; websites specialising in activities such as online advertisements, news, in addition to social media accounts where all the above-mentioned activities are practiced for commercial purposes.
He added: “The Electronic Media Regulations do not apply to personal websites and online platforms of any members of the community, unless they are used to carry out media or commercial activities for commercial purposes, or used as platforms for paid advertising.”
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
Mohammed bin Zayed Majlis
Six pitfalls to avoid when trading company stocks
Following fashion
Investing is cyclical, buying last year's winners often means holding this year's losers.
Losing your balance
You end up with too much exposure to an individual company or sector that has taken your fancy.
Being over active
If you chop and change your portfolio too often, dealing charges will eat up your gains.
Running your losers
Investors hate admitting mistakes and hold onto bad stocks hoping they will come good.
Selling in a panic
If you sell up when the market drops, you have locked yourself out of the recovery.
Timing the market
Even the best investor in the world cannot consistently call market movements.
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Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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Jawbone Press
Safety 'top priority' for rival hyperloop company
The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.
He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.
“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.
“Only once the system has been certified and approved will it move people,” he said.
HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon.
With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.
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Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded