The UAE has been ranked as the world's largest donor of official development aid, relative to its national income, according to the Organisation for Economic Co-operation and Development (OECD).
The official development aid provided by the UAE during 2016 reached Dh15.57 billion, making up 1.21 per cent of the country's gross national income.
More than 58 per cent of the development aid provided by the UAE was in the form of grants, Wam reported.
Norway came second, contributing 1.12 per cent of its gross national income, followed by Luxembourg at 1 per cent and Sweden at 0.94 per cent.
Sultan Mohammed Al Shamsi, assistant minister of foreign affairs and international cooperation for international development affairs, said the ranking is a result of the directives of The President Sheikh Khalifa; Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces; and Vice President and Ruler of Dubai, Sheikh Mohammed bin Rashid.
The data comes as it was revealed that The Year of Giving resulted in about 275,000 volunteers taking part in charitable activities, spending 2.8 million hours contributing to good causes, according to an end of year report by the Government.
More than Dh1.5 billion was given by the private sector alone.
Among the initiatives was the Reaching the Last Mile forum in November, which was dedicated to eradicating diseases such as malaria and polio.
At the event in Abu Dhabi, a US$100 million fund was announced with the goal of wiping out many of the world's deadliest diseases. Sheikh Mohammed contributed US$20 million.
The Year of Giving was launched last year by Sheikh Khalifa with three areas of focus: corporate social responsibility, volunteering and serving the nation.
The year-long initiative was inspired by the example of the country's late President, Sheikh Zayed, and 2018 has been declared the Year of Zayed.
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Read more:
[ As the Year of Zayed approaches, we must shed light on his remarkable legacy ]
[ Year of Giving: millions of volunteer hours and a billion dirhams ]
MATCH INFO
Manchester United 1 (Rashford 36')
Liverpool 1 (Lallana 84')
Man of the match: Marcus Rashford (Manchester United)
Results:
Men's 100m T34: 1. Walid Ktila (TUN) 15 sec; 2. Rheed McCracken (AUS) 15.40; 3. Mohammed Al Hammadi (UAE) 15.75. Men's 400m T34: 1. Walid Ktila (TUN) 50.56; 2. Mohammed Al Hammadi (UAE) 50.94; 3. Henry Manni (FIN) 52.24.
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
BANGLADESH SQUAD
Mashrafe Mortaza (captain), Tamim Iqbal, Liton Das, Soumya Sarkar, Mushfiqur Rahim (wicketkeeper), Mahmudullah, Shakib Al Hasan (vice captain), Mohammad Mithun, Sabbir Rahaman, Mosaddek Hossain, Mohammad Saifuddin, Mehidy Hasan Miraz, Rubel Hossain, Mustafizur Rahman, Abu Jayed (Reporting by Rohith Nair in Bengaluru Editing by Amlan Chakraborty)
COMPANY PROFILE
Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends
Match info
Liverpool 3
Hoedt (10' og), Matip (21'), Salah (45+3')
Southampton 0
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Company Profile
Founder: Omar Onsi
Launched: 2018
Employees: 35
Financing stage: Seed round ($12 million)
Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners
Barbie
Director: Greta Gerwig
Stars: Margot Robbie, Ryan Gosling, Will Ferrell, America Ferrera
Rating: 4/5
How to keep control of your emotions
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.
Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.
Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
Company profile
Name: Tabby
Founded: August 2019; platform went live in February 2020
Founder/CEO: Hosam Arab, co-founder: Daniil Barkalov
Based: Dubai, UAE
Sector: Payments
Size: 40-50 employees
Stage: Series A
Investors: Arbor Ventures, Mubadala Capital, Wamda Capital, STV, Raed Ventures, Global Founders Capital, JIMCO, Global Ventures, Venture Souq, Outliers VC, MSA Capital, HOF and AB Accelerator.
ETFs explained
Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.
ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.
There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.
UAE currency: the story behind the money in your pockets
All The Light We Cannot See
Creator: Steven Knight
Stars: Mark Ruffalo, Hugh Laurie, Aria Mia Loberti
Rating: 1/5
Company Profile
Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed
