Modern economies are increasingly built around knowledge. The ability to develop home-grown hubs of expertise and innovation – and then use these to export revenue-generating goods and services – is an essential part of economic growth today.
Despite benefiting from natural resources, the UAE has been planning for a post-oil knowledge economy for decades. Through the 1990s and early 2000s, the country’s strategy looked at accelerating growth by attracting world-class talent to key economic sectors, such as real estate, hospitality, education and healthcare.
Attracting global expertise was akin to phase one for the UAE. Now, the country has matured to the point it is able to start exporting its own knowledge and expertise to others, supplying intellectual capital, innovation and prowess to markets in Mena and beyond. This evolution has even been laid out in the discernible blueprint: the UAE Vision 2021.
The vision calls for a “competitive economy driven by knowledgeable and innovative Emiratis.” It is very heartening to see official acknowledgement for a diversified and flexible knowledge based economy – one where innovation, research, science and technology form the basis of competitive advantage.
Of course, this means that frameworks and government services will be designed to provide businesses with the environment that they need in order to grow, thrive and commercialise innovative ideas. Regulations will promote efficient markets and protect intellectual property. Partnerships will flourish between the public and private sectors, spurring growth and maximising opportunities.
The first step to exporting knowledge is to build hubs capable of creating, sustaining and amplifying it. The UAE leadership has long understood the potential of dedicated freezones that bring businesses together in close proximity to develop network economies.
The next step is to incubate the SMEs that inhabit these freezones, making them a true driver of innovation and human excellence. The potential impact of SMEs on knowledge generation and economic vibrancy is staggering. Reports estimates that the total GCC-wide number of people employed in SMEs will hit 20 million by 2020, but active government support could take that figure to more than 22 million.
There isn’t just room for SMEs to become plentiful, but to also become smarter and more innovative. Advanced data capabilities and artificial intelligence are bringing back the concept of the knowledge worker and favouring technologically innovative economies over traditional manufacturing ones.
The third step is catalysing international relationships that allow local knowledge to travel to markets where it is in demand, and can empower people and businesses.
DP World has been active in bringing its ports and logistical management expertise to global partners. We are proud to manage and grow some of the world’s most innovative ports. We currently deliver expertise to 78 marine and inland terminals in 40 countries. We’ve been active exporters of best practices for years, and engage in the transfer of knowledge and expertise to the entities, freezones and governments we advise all over the world. And, in line with the UAE’s aim of becoming a knowledge exporter, we are following its own vision of becoming a leading facilitator of the global trade in goods, services and products.
We want the UAE’s expertise to be available to the world. We want our management expertise and intellectual property to become a sustainable and growing revenue stream for our leaders to invest in future prosperity. And we recognise that this isn’t a burden that the nation’s public sector can carry alone. That’s why we support incubation and knowledge transfer that can spur UAE-based innovation hubs and SMEs to a standard where global clients reach out to them. And we lead by example, showing how a network of long-term knowledge exporting links benefits both recipients as well as exporting economies.
Sultan Ahmed bin Sulayem is the chairman and CEO of DP World
Killing of Qassem Suleimani
Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
- Upper Bowl standard - Dh295
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Leap of Faith
Michael J Mazarr
Public Affairs
Dh67
Killing of Qassem Suleimani
Killing of Qassem Suleimani
Zayed Sustainability Prize
PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
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Stamp duty timeline
December 2014: Former UK finance minister George Osbourne reforms stamp duty, replacing the slab system with a blended rate scheme, with the top rate increasing to 12 per cent from 10 per cent:
Up to £125,000 - 0%; £125,000 to £250,000 – 2%; £250,000 to £925,000 – 5%; £925,000 to £1.5m: 10%; Over £1.5m – 12%
April 2016: New 3% surcharge applied to any buy-to-let properties or additional homes purchased.
July 2020: Rishi Sunak unveils SDLT holiday, with no tax to pay on the first £500,000, with buyers saving up to £15,000.
March 2021: Mr Sunak decides the fate of SDLT holiday at his March 3 budget, with expectations he will extend the perk unti June.
April 2021: 2% SDLT surcharge added to property transactions made by overseas buyers.
PAKISTAN v SRI LANKA
Twenty20 International series
Thu Oct 26, 1st T20I, Abu Dhabi
Fri Oct 27, 2nd T20I, Abu Dhabi
Sun Oct 29, 3rd T20I, Lahore
Tickets are available at www.q-tickets.com
Mohammed bin Zayed Majlis
Mohammed bin Zayed Majlis
Killing of Qassem Suleimani
MATCH INFO
Manchester United 1 (Fernandes pen 2') Tottenham Hotspur 6 (Ndombele 4', Son 7' & 37' Kane (30' & pen 79, Aurier 51')
Man of the match Son Heung-min (Tottenham)
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UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Killing of Qassem Suleimani
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The specs: 2018 Maxus T60
Price, base / as tested: Dh48,000
Engine: 2.4-litre four-cylinder
Power: 136hp @ 1,600rpm
Torque: 360Nm @ 1,600 rpm
Transmission: Five-speed manual
Fuel consumption, combined: 9.1L / 100km
INFO
More on animal trafficking
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Uefa Champions League last 16 draw
Juventus v Tottenham Hotspur
Basel v Manchester City
Sevilla v Manchester United
Porto v Liverpool
Real Madrid v Paris Saint-Germain
Shakhtar Donetsk v Roma
Chelsea v Barcelona
Bayern Munich v Besiktas
How Beautiful this world is!
The years Ramadan fell in May
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Mohammed bin Zayed Majlis
The years Ramadan fell in May
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Green ambitions
- Trees: 1,500 to be planted, replacing 300 felled ones, with veteran oaks protected
- Lake: Brown's centrepiece to be cleaned of silt that makes it as shallow as 2.5cm
- Biodiversity: Bat cave to be added and habitats designed for kingfishers and little grebes
- Flood risk: Longer grass, deeper lake, restored ponds and absorbent paths all meant to siphon off water
The years Ramadan fell in May
Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Results
57kg quarter-finals
Zakaria Eljamari (UAE) beat Hamed Al Matari (YEM) by points 3-0.
60kg quarter-finals
Ibrahim Bilal (UAE) beat Hyan Aljmyah (SYR) RSC round 2.
63.5kg quarter-finals
Nouredine Samir (UAE) beat Shamlan A Othman (KUW) by points 3-0.
67kg quarter-finals
Mohammed Mardi (UAE) beat Ahmad Ondash (LBN) by points 2-1.
71kg quarter-finals
Ahmad Bahman (UAE) defeated Lalthasanga Lelhchhun (IND) by points 3-0.
Amine El Moatassime (UAE) beat Seyed Kaveh Safakhaneh (IRI) by points 3-0.
81kg quarter-finals
Ilyass Habibali (UAE) beat Ahmad Hilal (PLE) by points 3-0
House-hunting
Top 10 locations for inquiries from US house hunters, according to Rightmove
- Edinburgh, Scotland
- Westminster, London
- Camden, London
- Glasgow, Scotland
- Islington, London
- Kensington and Chelsea, London
- Highlands, Scotland
- Argyll and Bute, Scotland
- Fife, Scotland
- Tower Hamlets, London
