DUBAI // At least 19 of Dubai Metro's 47 stations will be named after private companies and brands in sponsorship deals worth Dh1.8 billion, officials said.
The figure represents more than 10 per cent of the overall Dh15.5bn cost of the project.
First Gulf Bank Station, Sharaf DG Station and Mall of the Emirates Station will be on the red line, which opens in September, while the green line, which is due to open in 2010, will include Etisalat Station and Dubai Airport Freezone Station.
Several companies and government entities that have sponsored the stations have also contributed to the cost of building them.
Emirates Airline has helped build Emirates Station near the airport, while the property developer Emaar has put money into the Burj Dubai Station. Altogether, up to 250 companies have applied to have metro stations named after them.
Some stops, particularly in the older part of the city, are to be given traditional names based on the area in which they are located.
"His Highness Sheikh Mohammed bin Rashid Al Maktoum [Vice President of the UAE and Ruler of Dubai] gave us clear instructions to give the main stations national names which reflect the national identity," said Mattar al Tayer, the chairman of the board and executive director of the Roads and Transport Authority.
"Secondary stations will be named after companies. This is a national project and national identity is a very important factor for us, but that does not prevent us from using some of these stations to finance the metro project."
He said negotiations were under way with other companies and that more names would be unveiled in due course. He said the cost of sponsorship was dependent on the size and relative importance of each station.
"The value is based on a range of criteria, including how many people will use the station, so for example terminals at the beginning and end of each line will have a higher value."
A source at the RTA said he thought that 16 metro stations would be given national names, while 31 names would eventually be sold to companies.
"There will be firms who wanted one particular station and didn't get it, but they may come back and say they are now interested in one of the others," he said.
"Given the financial crisis, we are very fortunate to bring in the partners that we've got - it is very brave of them to come in at this time. I think they are looking to the future - when a place is named it often takes decades for that name to change in the minds of the public, so this is a long-term investment."
He said that if the ongoing financial troubles caused irreparable damage to any of the companies involved, there were contingencies in place to enable the name to be altered.
"We have backup plans. There were 250 companies that applied for the privilege of having their name on a station, so changes could be made."
Red Line
Nakheel Harbour and Tower Station, Jumeirah Lake Towers Station, Nakheel Station, TECOM Station, Sharaf DG Station, Mall of the Emirates Station, First Gulf Bank Station, Business Bay Station, Burj Dubai Station, Emirates Towers Station, Deira City Centre Station, GGICO (Gulf General Investment Company) Station, and Emirates Station.
Green Line
Etisalat Station, Dubai Airport Free Zone Station, Palm Deira Station, Bani Yas Station, Al Ras Station, Al Ghubaiba Station, Dubai Health Care City Station, Jaddaf Station and Creek Station.
GMcClenaghan@thenational.ae
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Vidaamuyarchi
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Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
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The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
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- Protests against President Omar Al Bashir enter their sixth day
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How will Gen Alpha invest?
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
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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Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
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West Indies v India - Third ODI
India 251-4 (50 overs)
Dhoni (78*), Rahane (72), Jadhav (40)
Cummins (2-56), Bishoo (1-38)
West Indies 158 (38.1 overs)
Mohammed (40), Powell (30), Hope (24)
Ashwin (3-28), Yadav (3-41), Pandya (2-32)
India won by 93 runs
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
The specs: 2018 Maserati Levante S
Price, base / as tested: Dh409,000 / Dh467,000
Engine: 3.0-litre V6
Transmission: Eight-speed automatic
Power: 430hp @ 5,750rpm
Torque: 580Nm @ 4,500rpm
Fuel economy, combined: 10.9L / 100km