ABU DHABI // Worn-out tyres are the focus of an inspection campaign launched by the Abu Dhabi Quality and Conformity Council.
The initiative, which began on August 9 and runs until the 20th, aims to ensure the safety of vehicle owners and road users. Tyre blowouts are considered a major cause of traffic accidents in the UAE, especially during the summer months when roads are exceedingly hot.
As part of the campaign, QCC inspectors will check the fitness of new and retreaded tyres traded in the Abu Dhabi market and inspect their compliance with relevant technical standards and safety requirements.
Mohammed Helal Al Balooshi, marketing and communications director at QCC, said: “The tyre inspection campaign articulates QCC’s priority to prevent accidents caused by flawed and substandard tyres that are prone to bursting at high temperatures. In following such stringent norms, QCC aims to ensure that the highest safety measures are followed in the storage and handling of tyres traded in Abu Dhabi markets.”
The number of accidents caused by burst tyres is on the increase, according to figures from the Ministry of Interior’s traffic coordination department last month.
Nineteen accidents were caused by blowouts during the first quarter of this year, compared with 15 during the same period last year. Five people died as a result.
Abu Dhabi Police lodged 7,603 offences against motorists for using defective tyres in January and February.
newsdesk@thenational.ae
Brief scores:
Toss: Sindhis, elected to field first
Pakhtoons 137-6 (10 ov)
Fletcher 68 not out; Cutting 2-14
Sindhis 129-8 (10 ov)
Perera 47; Sohail 2-18
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Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
UAE currency: the story behind the money in your pockets
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