Sheikh Hamdan bin Mohammed officially opened a new bus station in Dubai as he was told of plans to roll out an e-scooter trial in the emirate next week.
The Crown Prince of Dubai toured the sprawling 2,452 square metre environment-friendly Al Ghubaiba Bus Station.
The bus station can serve up to 15,000 passengers per day, with more than 10,000 estimated to use the station daily.
Sheikh Hamdan was briefed by Mattar Mohammed Al Tayer, director general of Dubai's Roads and Transport Authority, on the transport sector's move towards the future.
He was told of plans to upgrade 17 bus stations and stops to meet the influx of visitors expected for Expo 2020 Dubai next year.
Sheikh Hamdan was kept up to date with plans for an e-scooter trial, which is set to get under way next week.
The project is supported by local companies Arnab and Skurrt and international operators Careem, Lime and Tier.
"We were briefed on the e-scooter pilot project, which was launched as a partnership between two local companies and three global counterparts," said Sheikh Hamdan.
"It is our goal to introduce new public services in Dubai as part of enriching the city’s smart infrastructure."
The RTA will start the trial-run of scooters in five zones of the emirate: Mohammed bin Rashid Boulevard; Dubai Internet City; 2nd of December St, Al Rigga and Jumeirah Lakes Towers.
Al Ghubaiba Bus Station is home to restaurants, shops, customer service areas and office space and has 50 spaces for buses and 48 for other vehicles.
It includes a stand with room for 34 taxis and 60 docking stations for bicycles.
Sheikh Hamdan reviewed the transport authority's Cycling Tracks Plan 2021, which involves the construction of cycling lanes extending 88km across eight districts.
Priority has been given to the construction of tracks in three districts, spanning total of 31km.
The first 16km stretch extends from Jumeirah Beach, parallel to the existing pedestrian track, passes along Al Sufouh Street before linking with the existing cycling track at the King Salman bin Abdul Aziz Al Saud Street.
The second 7km route runs from the Mohammed bin Rashid Boulevard to the cycling track on Jumeirah Street in the DIFC district and the 2nd of December Street.
The third (8 km) section links cycling tracks at Al Khawaneej and Al Warqaa through the Sheikh Zayed bin Hamdan Al Nahyan Street and Tripoli Street.
"Until the commencement of 2020, RTA constructed cycling tracks extending 425km and intends to extend them further to as much as 647 km by 2025," said Mr Al Tayer.
"This massive infrastructure project realises the vision of Sheikh Mohammed bin Rashid, Vice President and Prime Minister and Ruler of Dubai, to bring happiness to people and switch to a sustainable transport model characterised by minimal pollution to the environment.
“The project is also aligned with the directives of Sheikh Hamdan bin Mohammed to make Dubai a bicycle-friendly city that encourages people to practice cycling as a sport. It also forms part of the Dubai Vision 2021, which aims to strengthen the emirate’s position as the world’s most preferred and safest place to live, work and visit."
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Retirement funds heavily invested in equities at a risky time
Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.
Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.
The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.
The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.
Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.
The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.
• Bloomberg
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
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Although cryptocurrencies are a fast evolving world, this book offers a good insight into the game as well as providing some basic tips, strategies and warning signs.
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Who is Mohammed Al Halbousi?
The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.
The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.
He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.
He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.
He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
More Expo 2020 Dubai pavilions:
SERIE A FIXTURES
Saturday Benevento v Atalanta (2pm), Genoa v Bologna (5pm), AC Milan v Torino (7.45pm)
Sunday Roma v Inter Milan (3.30pm), Udinese v Napoli, Hellas Verona v Crotone, Parma v Lazio (2pm), Fiorentina v Cagliari (9pm), Juventus v Sassuolo (11.45pm)
Monday Spezia v Sampdoria (11.45pm)
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The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
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UAE-based players
Goodlands Riders: Jamshaid Butt, Ali Abid, JD Mahesh, Vibhor Shahi, Faizan Asif, Nadeem Rahim
Rose Hill Warriors: Faraz Sheikh, Ashok Kumar, Thabreez Ali, Janaka Chathuranga, Muzammil Afridi, Ameer Hamza
More on Quran memorisation:
The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Company Profile:
Name: The Protein Bakeshop
Date of start: 2013
Founders: Rashi Chowdhary and Saad Umerani
Based: Dubai
Size, number of employees: 12
Funding/investors: $400,000 (2018)
