'Gangnam Style' in line for UK dictionary inclusion


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LONDON // He has the most-watched video in Youtube history, become a pop sensation with a horse-riding dance craze that has swept the world and now Korean singer Psy may cement his place in popular culture with recognition from a British dictionary.

"Gangnam Style," Psy's signature song, has been chosen along with "fiscal cliff" and "Romneyshambles" as some of Collins Dictionary's words of the year.

"We were looking for words that told the story of the year," said Ian Brookes, the dictionary's consultant editor.

"Some words are from events that have been and gone and so are not likely to stick around ... but others are probably here to stay."

Other headline entries centred on American politics.

"Fiscal cliff" has drawn a lot of attention as the deadline for Congress and President Obama to agree on government spending and tax plans draws nearer.

While the term "Romneyshambles" entered the British public's consciousness after Mitt Romney's gaffe-ridden visit to London in July in which he questioned Britain's readiness to host the Olympics.

The inclusion of "47 percent" on the list after a leaked video showed Romney telling donors that 47 percent of Americans would definitely vote for Obama because of their dependency on the government capped off a bad year for the losing presidential candidate.

Collins received over 7,000 submissions on its online database.

Twelve words of the year - one for each month - were then selected on the basis of the frequency with which they were spoken, how many places they appeared and their longevity in public discourse.

Appearing on the Collins words of the year list is no guarantee of insertion in the next dictionary.

But Gangnam Style stands a very good chance, Brookes said.

"It's obviously a craze, so there's the possibility it will go away. But it's been heard by so many people that I think it's probably earned the right to go into the dictionary."

Other words of the year include "mummy porn" after the popularity of the "Fifty Shades of Grey" books, and "superstorm" after Superstorm Sandy wreaked havoc along the east coast of America in October.

Roll of honour 2019-2020

Dubai Rugby Sevens

Winners: Dubai Hurricanes

Runners up: Bahrain

 

West Asia Premiership

Winners: Bahrain

Runners up: UAE Premiership

 

UAE Premiership

Winners: Dubai Exiles

Runners up: Dubai Hurricanes

 

UAE Division One

Winners: Abu Dhabi Saracens

Runners up: Dubai Hurricanes II

 

UAE Division Two

Winners: Barrelhouse

Runners up: RAK Rugby

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
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UAE currency: the story behind the money in your pockets
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Sukuk explained

Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.

PROFILE OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

Sector: Transport

Size: 9 employees

Investment: $1,275,000

Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri