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Al Etihad
5 days ago
- Business
- Al Etihad
Mohammed bin Rashid: UAE is ranked 5th globally by 2025 IMD World Competitiveness Ranking
17 June 2025 20:04 ABU DHABI (WAM)His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, has chaired a Cabinet meeting held at Qasr Al Watan in Abu meeting was attended by His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister of the UAE, and Chairman of the Presidential Court; His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, UAE Deputy Prime Minister and Minister of Defence; His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and UAE Minister of Finance; His Highness Lt. General Sheikh Saif bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of the Highness Sheikh Mohammed bin Rashid Al Maktoum said, ' I chaired a Cabinet meeting at Qasr Al Watan in Abu Dhabi, where we reviewed the UAE's performance in the 2025 IMD World Competitiveness Ranking. The UAE ranked 5th globally, alongside the world's leading countries in economic competitiveness, government efficiency, legislative strength, and business environment excellence."Fourteen years ago, we established a competitiveness centre, uniting the efforts of key national entities. These efforts have elevated the UAE's ranking from 28th globally in 2009 to being among the top five globally in competitiveness. In the same report, the UAE ranked 1st globally in the absence of bureaucracy index, 2nd globally in government policies adaptability index, and 4th globally in government efficiency index.""This achievement is a testament to years of consistent effort. With the vision of my brother, Mohamed bin Zayed, our future will continue to be even brighter and stronger," His Highness Highness Sheikh Mohammed bin Rashid Al Maktoum said, 'During the meeting, we approved housing grants for over 1,838 citizens in the first half of the current year, with a total value of Dh1.2 billion. This support will continue to ensure decent housing and enhance family stability across the UAE."He confirmed, 'We also approved the results and activities of the Emirates Council for Balanced Development, chaired by Sheikh Theyab bin Mohamed bin Zayed Al Nahyan. The Council continues to implement projects and forge national partnerships to develop Emirati villages, economically, socially, and as tourist destinations."Its initiatives have created meaningful opportunities for families, young talent, and small business owners. The Council's mission is to ensure that every part of the UAE, near or far, benefits from the nation's immense developmental momentum."His Highness Sheikh Mohammed bin Rashid Al Maktoum added, 'We also reviewed the results of Digital Identity implementation in government transactions, which now has over 11 million registered users and has recorded more than 600 million logins. The unified integrated digital ecosystem for government services is currently connecting over 130 government entities and private sector organisations. It has facilitated 2.6 billion digital transactions efficiently, accurately, and swiftly. Thanks and appreciation go to the team behind this outstanding national ecosystem."His Highness Sheikh Mohammed bin Rashid Al Maktoum also said, 'The Cabinet approved during the meeting the restructuring of the Higher Committee Overseeing the National Strategy on Anti-Money Laundering and Countering the Financing of Terrorism under the chairmanship of Sheikh Abdullah bin Zayed Al Nahyan. "Over the years, the Committee has made strides in advancing national policies and strengthening measures to combat money laundering and terrorism financing across the country. The Committee will continue its work to ensure the UAE remains a global leader combating money laundering and terrorism financing, an oasis of safety and security, and an ideal business environment for entrepreneurs and investors across all sectors."His Highness Sheikh Mohammed bin Rashid Al Maktoum said, 'We also approved the establishment of the National Maritime Navigation Centre, which will operate under the Ministry of Energy and Infrastructure. The new centre will manage and operate the Integrated National Maritime System for monitoring maritime traffic, oversee the National Maritime Single Window, and enhance the safety and security of the maritime sector. It will also activate and develop mechanisms to prevent harmful practices, protect the UAE's marine life, and advance the sector through conducting scientific research and studies."His Highness Sheikh Mohammed bin Rashid Al Maktoum concluded, 'We approved the 2024 Annual Report of the Higher Commission for Free Trade Negotiations. Key achievements include the signing and conclusion of 27 Comprehensive Economic Partnership Agreements (CEPA) with strategic global economies, eight of which have already come into force. We also reviewed ongoing efforts to finalise more agreements with additional countries. The UAE's free trade negotiation team is outstanding and has delivered remarkable results, contributing to record-breaking growth in the UAE's foreign trade in a short period."The UAE Cabinet reviewed the 2025 Global Competitiveness Ranking results, published by the IMD World Competitiveness Centre in Lausanne, Switzerland. This year, the UAE is ranked among the top five globally, scoring 96.09 out of 100 UAE advanced two positions from last year, surpassing countries such as the United States, Sweden, Germany, and Canada, while maintaining its top ranking as the regional leader for the ninth consecutive report evaluates 69 countries based on four key areas: economic performance, government efficiency, business efficiency, and infrastructure. Its findings cover 341 competitiveness indicators across economic, administrative, and social 2025 edition also introduced five new indicators: food waste, environmental performance, freely elected government, passport mobility, and media year, the UAE made significant progress in the business efficiency pillar, rising seven spots to rank third globally. It also maintained a strong standing globally in economic performance and government efficiency, ranking second and fourth, UAE's exceptional performance in key sectors contributed to its leadership in 113 global indicators across the report's main and sub-pillars. The country ranked first globally in 22 indicators, including employment rate, absence of bureaucracy, availability of global expertise, digital transformation in companies, venture capital, inbound mobility of higher education students, public-private partnerships, energy infrastructure, and female parliamentary UAE also ranked second globally in social cohesion, flexibility of residency laws, and government policy adaptability, while securing third globally in graduates in sciences, leverage of digital tools and technology, and healthcare Cabinet reviewed the 2024 report of the Higher Commission for Free Trade Negotiations. The report highlighted the signing and conclusion of negotiations for 27 Comprehensive Economic Partnership Agreements (CEPAs) with various countries, of which eight have already come into agreements drove the UAE's foreign trade volume to an unprecedented Dh5.23 trillion in 2024, according to the World Trade Organisation (WTO).The UAE's non-oil exports reached a historic milestone, exceeding Dh440 billion in 2023, marking a 16.3% growth compared to 2022 and a remarkable 83% increase from 2019. Re-exports also reached a record Dh684.3 billion, with a 6.3% growth compared to the UAE attracted Dh113 billion in foreign direct investments (FDI) in 2023, reinforcing its position as a global trade Cabinet reviewed the year 2024 achievements of the Emirates Council for Balanced Development, chaired by His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Development and Fallen Heroes' Affairs and Chairman of the Emirates Council for Balanced included the completion of major projects in Qidfa, such as the waterfront development, Palm Walk, and cycling tracks. Strategic projects were also initiated in Masfout, including Marble Park, a Ladies' Club, Friday Market, and restoration of Al Sharia and Al Falaj areas as cultural first phase of the Al Sila' Waterfront development project exceeded an 87% completion rate, while plans for Al Rams included several initiatives, such as building a community council, developing the marina and corniche, and advancing ecotourism plans. The Council also launched the UAE Villages Councils programme, creating 10 integrated community councils and distinct digital branding for each village under the initiative (Roots) to empower female artisans in the UAE. Several cultural festivals and local market initiatives were organised, attracting over 206,000 visitors, supporting 171 families, and engaging 790 volunteers. The Cabinet reviewed the achievements of the fourth edition of the Make it in the Emirates platform (2025). This initiative attracted over 122,000 visitors and participants, facilitated Dh168 billion in potential procurement agreements to localise the manufacturing of 4,800 worth Dh11 billion were signed for industrial projects, alongside Dh40 billion in financing solutions over five years to support SMEs.A new category, the UAE Traditional Crafts, was introduced to recognise individuals and organisations excelling in traditional Emirati Cabinet reviewed during the meeting a report on the Sheikh Zayed Housing Programme, which highlighted the federal government housing decisions issued during the first half of 2025. The total number of decisions issued during that period reached 1,838, with a total value exceeding Dh1.25 Cabinet approved the establishment of the National Maritime Navigation Cente eunder the Ministry of Energy and Infrastructure. The Centre will manage a unified maritime database, oversee vessel tracking systems, and ensure maritime safety and environmental protection in collaboration with relevant Cabinet approved drafting a federal law to saveguard the UAE's cultural heritage. The law will enhance awareness, support intangible heritage, and align national efforts with international best Cabinet restructured the High Committee for Overseeing the National Strategy on Anti-Money Laundering and Counter Terrorism Financing under the chairmanship of His Highness Sheikh Abdullah bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Foreign UAE Council for Climate Action was also restructured to oversee the implementation of the UAE's Net Zero 2050 strategy and promote carbon market UAE added nine sites to the global list of biodiversity hotspots and launched a roadmap to plant 100 million mangrove trees by 2030. Protected areas were expanded by an 18 percent increase for mainland reserves and 12 percent increase for marine reserves. The Cabinet also reviewed the results of implementing the UAE Unemployment Insurance Scheme for the year UAE Cabinet approved the ratification of 13 international agreements and protocols, including partnerships with Montenegro on tourism, real estate, and economic cooperation, Vietnam on a comprehensive economic partnership, Uganda on mutual visa exemptions, and New Zealand on investment were also signed with Eswatini, the Central African Republic, Kenya, Peru, Nigeria, and Cabinet also approved the negotiation and signing of 36 international agreements and memoranda of understanding. These included agreements with Hong Kong on legal assistance, Montenegro on energy cooperation, and the Eurasian Economic Union on economic embassies will be established in Togo, Gabon, Cameroon, and Tajikistan, alongside a UAE Consulate General in Miami, Cabinet endorsed the UAE's participation in 13 international events in countries such as Malaysia and Ethiopia. The UAE will also host key summits, including the Annual Summit of the Central Banks Data Cooperation Group. Additionally, the Cabinet approved the UAE's accession to the International Competition Network, the OECD Forum on Tax Administration, and the Svalbard Treaty, alongside participation in the International Legal Forum in St. Petersburg.
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Mubadala's assets under management grew to Dh1.2 trillion in 2024
Mubadala Investment Company, the Abu Dhabi–based sovereign investor, on Thursday reported that its assets under management grew 9.1 per cent year-on-year in 2024 to Dh1.2 trillion, with annualised returns of 10.1 per cent over five years. Capital deployed grew 33.7 per cent year-over-year to Dh119 billion. Proceeds, including monetisations, grew 10 per cent year-over-year to Dh109 billion. Mubadala's portfolio mix remained broadly consistent year-over-year: 40 per cent in private equity, 23 per cent in public markets, and 17 per cent in infrastructure and real estate. The company raised Dh30.5 billion through a range of capital market instruments, including the world's first AA-rated sovereign sukuk, a bond with the tightest credit spread ever issued in emerging markets, Mubadala's first dirham-denominated global sukuk and the first Euro-denominated 6- and 7-year corporate facilities in the EMEA region. 'This year marked two decades of disciplined financial performance as an investor central to the UAE's long-term competitiveness. Our 2024 results and portfolio growth reflect Mubadala's focused and resilient strategy, with risk-adjusted returns in sectors where we have conviction,' said Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO. 'Our portfolio has been constructed to navigate market cycles and scale future-focused sectors—from AI and clean energy to life sciences, semiconductors, and advanced manufacturing—all aligned with our national priorities. A growing number of best-in-class investors also continued to partner with Mubadala across key geographies and sectors, reflecting confidence in our approach and long-term strategy. We will work to deepen these partnerships, invest in advancing innovation and create new entities in Abu Dhabi and around the world.' 'Mubadala's 10.1 per cent return over the last five years reflects our disciplined capital allocation strategy, resilient execution and consistent focus on long-term value creation,' said Carlos Obeid, Group Chief Financial Officer. 'We continue to grow and diversify across sectors and geographies, supported by a strong balance sheet, a low cost of debt, and a conservative gearing ratio of 7.8 per cent, which positions us well for future investments.' In 2024, Mubadala continued to be a key driver of innovation, economic diversification, and job creation in the UAE, reinforcing the country's position as a global hub for capital and future-focused industries. Mubadala's portfolio continued to expand across North America, Europe, and Asia, guided by long-term investment horizons and aligned with global growth trends and Abu Dhabi's economic vision. Mubadala Capital, now managing $30 billion (Dh110.2 billion), two-thirds on behalf of global investors, grew its international footprint by acquiring Fortress Investment Group and establishing a $1 billion (Dh3.6 billion) partnership with Silver Rock Financial. Mubadala's private credit portfolio grew to US$20 billion (Dh73.5 billion), supported by deep, trusted partnerships with institutions including Apollo, Ares, Carlyle, Goldman Sachs, and KKR. Since 2021 the company has not disclosed annual financial figures such as revenue or net income but has disclosed its rolling 5-year IRR and, in 2024, has begun publishing its 10-year rolling IRR which in 2024 was 8.7 per cent.
Al Etihad
11-05-2025
- Business
- Al Etihad
Khaldoon Al Mubarak: Mubadala an Emirati success story, inspiring the world
12 May 2025 02:14 HAMED RUAAB (ABU DHABI)Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO of Mubadala, said that over the course of nearly 20 years, Mubadala has successfully written an Emirati success story that inspires the world. It has evolved into a global investment powerhouse with assets totalling Dh1.2 trillion, covering 11 vital future-focused sectors and operating in 88 countries an interview with Aletihad, Al Mubarak stated that Mubadala's success, from its initial projects in 2004 to the present day, reflects the wise leadership's vision and the progress of the UAE across all fronts. It represents a new chapter in the UAE's record of accomplishments and leadership regionally and globally. He emphasised that Mubadala's role extends beyond financial returns — it plays a central role in advancing economic diversification and developing national talent to lead the explained that the company was among the early investors in sectors that have proven essential to the global economy, such as clean energy, healthcare, life sciences, advanced manufacturing, semiconductors, and artificial intelligence (AI), which is now a top priority. The UAE stands today among the world's most advanced and engaged nations in AI. 20 Years of Growth Al Mubarak began by reflecting on Mubadala's beginnings, stating: 'Great achievements stem from visionary ideas, and those ideas originate from wise leadership.' He praised the solid foundations laid by the UAE's leadership and emphasised that the vision and guidance of President His Highness Sheikh Mohamed bin Zayed Al Nahyan have always charted the path for development, innovation, and recalled how Mubadala's first projects in 2004 involved only two sectors and Dh3.5 billion in assets, launched in alignment with the vision of His Highness Sheikh Mohamed bin Zayed — prioritising human development, securing a dignified life for UAE citizens, building a diversified and globally integrated economy, and enhancing competitiveness and Mubarak noted that thanks to this vision, and under the leadership of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court and Chairman of Mubadala, the investment powerhouse continues to move forward with determination to achieve its goals and added that Mubadala has, since its inception, been committed to driving economic diversification, cementing the UAE's position as a global hub for future industries, establishing leading national companies, and investing early in sectors that shape the future of the UAE and the world — such as renewable energy, space, advanced technology, semiconductors, aerospace, life sciences, healthcare, and infrastructure. It has also forged global partnerships with leading companies and investors. These achievements reflect the UAE's journey, marking significant milestones in its track record of global leadership. Investing in People Al Mubarak stressed that Mubadala's success isn't limited to generating strong financial returns but also includes its contributions to national talent development. Quoting the UAE's Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, he said: 'A country's greatest investment lies in building generations of educated and knowledgeable youth.'He explained that this philosophy remains central to Mubadala, with continued guidance from His Highness Sheikh Mansour bin Zayed, who places nurturing Emirati talent on high emphasised that Mubadala is committed to enhancing the capabilities of its national workforce — its 'true investment' — by providing opportunities for leadership development, exposure to world-class teams and expertise, and skill-building to prepare future national leaders across various sectors. Future-Focused Sectors On Mubadala's forward-looking investment strategy, Al Mubarak said the company has long focused on sectors that have now become central to the global economy, such as clean energy, healthcare, life sciences, advanced manufacturing, and semiconductors. He emphasised the belief that building capabilities and laying the foundation for innovation in these promising sectors is a long-term investment in future generations and will significantly advance the UAE's position cited examples of leading Mubadala companies — Masdar, GlobalFoundries, M42, Emirates Global Aluminium, and Strata — that exemplify the company's long-term value creation strategy aligned with national priorities and in partnership with global industry leaders. Artificial Intelligence Al Mubarak highlighted that AI is currently the most dynamic and transformative field globally, impacting every aspect of life and reshaping how we engage with the world. The UAE has been a global frontrunner in adopting AI, driven by the vision of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. This has elevated the UAE's global standing in the field, with significant achievements in 2024 under the leadership of His Highness Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and National Security also noted Mubadala's role, in partnership with G42, in establishing MGX, a national leader investing in sectors where AI can drive significant economic impact, including semiconductors, infrastructure, software, tech-based services, life sciences, and AI infrastructure. Strength and Competitiveness On Mubadala's financial performance, Al Mubarak stated that beyond generating sustainable returns and forming strategic global partnerships, Mubadala has become a leading, responsible investor operating competitively in a dynamic international environment. It plays an active role in shaping the future through strategic investments across critical sectors. He affirmed that Mubadala is now stronger, more effective, and more competitive than ever, ranking among the world's best-performing sovereign wealth pointed to Mubadala's asset value reaching Dh1.2 trillion ($330 billion), with a five-year cumulative return of 10.1%. In 2024 alone, Mubadala deployed Dh119 billion ($32.5 billion) in new investments, diversifying and strengthening its portfolio and achieving a 10% year-on-year revenue increase to Dh109 billion ($30 billion). Abu Dhabi as a Global Business Hub Asked about Abu Dhabi's role as a global investment destination, Al Mubarak stated that the emirate has become a premier international business and investment hub focused on future sectors. This progress is guided by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, who is committed to reinforcing Abu Dhabi's position as an innovation and investment Mubarak emphasised that Mubadala's global success must go hand in hand with the UAE's development journey — fostering investment, business growth, innovation, and international partnerships for the benefit of the country. This principle is central to Mubadala's investment noted that Mubadala now has a dedicated investment unit for the UAE, acting as the company's national investment arm. Its goal is to accelerate economic growth by investing in globally leading national firms, developing strategic industrial and commercial clusters, and forming partnerships with global continues to grow its portfolio in key sectors — energy, mining, aerospace, technology, healthcare, real estate, and infrastructure — while launching new initiatives to attract investment partners and build economic clusters within the UAE. Notably, Masdar — founded years ago as an early bet on a vital global sector — has made Mubadala a global leader in clean and renewable energy, with investments and partnerships across 40-plus countries on six continents, generating over 51GW of power. Leading National Companies Al Mubarak also highlighted investments in Emirates Global Aluminium and Strata, both national champions that have strengthened local manufacturing and trained skilled Emirati talent. Mubadala has also advanced the UAE's healthcare sector by establishing Cleveland Clinic Abu Dhabi and M42 — two world-class healthcare platforms. He noted Mubadala's role in enhancing pharmaceutical manufacturing and life sciences capabilities, as well as bolstering the security of medicine referenced Mubadala's role through the Hub71 platform in building a global tech ecosystem connecting startups, investors, entrepreneurs, and government entities. Mubadala is also showcasing its leading national companies through platforms like the 'Make it in the Emirates' Forum, while the Abu Dhabi Investment Council — its indirect investment arm — continues to boost investment in funds and co-investment vehicles with top global asset managers, helping diversify Mubadala's portfolio. Confidence in the Future On future prospects amid global economic uncertainty, Al Mubarak acknowledged the fast-paced, complex transformations affecting the world. Despite the resulting ambiguity in global investment landscapes, he expressed confidence in Mubadala's ability to overcome challenges and realise its reaffirmed the company's long-term investment mindset and sees strong growth potential across various sectors and geographies. Mubadala will continue pursuing high-value opportunities, maintaining its commitment to strategic consistency. What has been achieved so far is only a fraction of the company's ambition, Al Mubarak said. With the guidance of the UAE's leadership, support from its board, global partners, and dedicated team, Mubadala will continue shaping the next chapter in its pioneering national journey, he concluded.
Al Etihad
08-05-2025
- Business
- Al Etihad
Mubadala Investment Company reports 2024 financial results
8 May 2025 12:42 ABU DHABI (ALETIHAD)Mubadala Investment Company, the Abu Dhabi–based sovereign investor, on Thursday reported strong performance in its 2024 financial results, reinforcing the focus and resilience of its strategy. Assets under management grew 9.1 percent year-on-year to Dh1.2 trillion, with annualised returns of 10.1 percent over five Khalifa Al Mubarak, Managing Director and Group CEO, said, "This year marked two decades of disciplined financial performance as an investor central to the UAE's long-term competitiveness. Our 2024 results and portfolio growth reflect Mubadala's focused and resilient strategy, with risk-adjusted returns in sectors where we have conviction.""Our portfolio has been constructed to navigate market cycles and scale future-focused sectors—from AI and clean energy to life sciences, semiconductors, and advanced manufacturing—all aligned with our national priorities," he Mubarak further commented, 'A highlight of 2024 was the creation of MGX by the Artificial Intelligence and Advanced Technology Council - the new AI investment champion for Abu Dhabi - with G42 and Mubadala as co-founding partners," Al Mubarak said."A growing number of best-in-class investors also continued to partner with Mubadala across key geographies and sectors, reflecting confidence in our approach and long-term strategy. We will work to deepen these partnerships, invest in advancing innovation, and create new entities in Abu Dhabi and around the world," the top official financial highlights from Mubadala's 2024 results underscored its continued success as a trusted guardian of the nation's company delivered a five-year rate of return of 10.1 percent. Assets under management grew by 9.1 percent year-over-year to Dh1.2 trillion, while capital deployed increased by 33.7 percent to Dh119 billion. Proceeds, including monetisations, rose by 10 percent year-over-year to Dh109 portfolio mix remained broadly consistent year-over-year, with 40 percent in private equity, 23 percent in public markets, and 17 percent in infrastructure and real raised Dh30.5 billion through a range of capital market instruments. These included the world's first AA-rated sovereign Sukuk, a bond with the tightest credit spread ever issued in emerging markets, Mubadala's first dirham-denominated global Sukuk, and the first Euro-denominated 6- and 7-year corporate facilities in the EMEA region."Mubadala's 10.1 percent return over the last five years reflects our disciplined capital allocation strategy, resilient execution and consistent focus on long-term value creation," said Carlos Obeid, Group Chief Financial Officer."We continue to grow and diversify across sectors and geographies, supported by a strong balance sheet, a low cost of debt, and a conservative gearing ratio of 7.8 percent, which positions us well for future investments," Obeid added. Mubadala focuses on long-term value creation and, in line with its sovereign investment mandate, reports multi-year performance metrics that reflect the nature of its strategy. Since 2021, the company has not disclosed annual financial figures such as revenue or net income but has disclosed its rolling 5-year IRR, and has begun publishing its 10-year rolling IRR, which was 8.7 percent in 2024 .
The National
02-05-2025
- Business
- The National
Best photos of May 2: Sandstorm in Syria to Papal conclave preparations
Director: S Sashikanth Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan Star rating: 2/5 Jeff Buckley: From Hallelujah To The Last Goodbye By Dave Lory with Jim Irvin Individuals must register on UAE Drone app or website using their UAE Pass Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number Upload the training certificate from a centre accredited by the GCAA Submit their request Fly it within visual line of sight Never over populated areas Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed Users must avoid flying over restricted areas listed on the UAE Drone app Only fly the drone during the day, and never at night Should have a live feed of the drone flight Drones must weigh 5 kg or less Visit for more information 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 Creator: Mike White Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell Rating: 4.5/5 Engine: 3.0-litre six-cylinder turbo Power: 398hp from 5,250rpm Torque: 580Nm at 1,900-4,800rpm Transmission: Eight-speed auto Fuel economy, combined: 6.5L/100km On sale: December Price: From Dh330,000 (estimate) • Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It's e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps. • Business Bay's Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile. • Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online 'easier, faster and smoother' via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale. • 2checkout's 'all-in-one payment gateway and merchant account' accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users. • PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone's signed up. Costs from 2.9 per cent plus Dh1.2 per transaction. GOLF'S RAHMBO - 5 wins in 22 months as pro - Three wins in past 10 starts - 45 pro starts worldwide: 5 wins, 17 top 5s - Ranked 551th in world on debut, now No 4 (was No 2 earlier this year) - 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth) Document everything immediately; including dates, times, locations and witnesses Seek professional advice from a legal expert You can report an incident to HR or an immediate supervisor You can use the Ministry of Human Resources and Emiratisation's dedicated hotline In criminal cases, you can contact the police for additional support Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union. It was founded in 2018 and originally called the Brexit Party. Many of its members previously belonged to UKIP or the mainstream Conservatives. After Brexit took place, the party focused on the reformation of British democracy. Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024. The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court. Moment of the day Given the problems Sri Lanka have had in recent times, it was apt the winning catch was taken by Dinesh Chandimal. He is one of seven different captains Sri Lanka have had in just the past two years. He leads in understated fashion, but by example. His century in the first innings of this series set the shock win in motion. Stat of the day This was the ninth Test Pakistan have lost in their past 11 matches, a run that started when they lost the final match of their three-Test series against West Indies in Sharjah last year. They have not drawn a match in almost two years and 19 matches, since they were held by England at the Zayed Cricket Stadium in Abu Dhabi in 2015. The verdict Mickey Arthur basically acknowledged he had erred by basing Pakistan's gameplan around three seam bowlers and asking for pitches with plenty of grass in Abu Dhabi and Sharjah. Why would Pakistan want to change the method that has treated them so well on these grounds in the past 10 years? It is unlikely Misbah-ul-Haq would have made the same mistake. Ministry of InteriorMinistry of DefenceGeneral Intelligence DirectorateAir Force Intelligence AgencyPolitical Security DirectorateSyrian National Security BureauMilitary Intelligence DirectorateArmy Supply BureauGeneral Organisation of Radio and TVAl Watan newspaperCham Press TV Sama TV 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. In Raed Mozafar Abu Al Saoud, Minister of Water and Irrigation Dr Bassam Samir Al Talhouni, Minister of Justice Majd Mohamed Shoueikeh, State Minister of Development of Foundation Performance Azmi Mahmud Mohafaza, Minister of Education and Minister of Higher Education and Scientific Research Falah Abdalla Al Ammoush, Minister of Public Works and Housing Basma Moussa Ishakat, Minister of Social Development Dr Ghazi Monawar Al Zein, Minister of Health Ibrahim Sobhi Alshahahede, Minister of Agriculture and Minister of Environment Dr Mohamed Suleiman Aburamman, Minister of Culture and Minister of Youth Out Dr Adel Issa Al Tawissi, Minister of High Education and Scientific Research Hala Noaman 'Basiso Lattouf', Minister of Social Development Dr Mahmud Yassin Al Sheyab, Minister of Health Yahya Moussa Kasbi, Minister of Public Works and Housing Nayef Hamidi Al Fayez, Minister of Environment Majd Mohamed Shoueika, Minister of Public Sector Development Khalid Moussa Al Huneifat, Minister of Agriculture Dr Awad Abu Jarad Al Mushakiba, Minister of Justice Mounir Moussa Ouwais, Minister of Water and Agriculture Dr Azmi Mahmud Mohafaza, Minister of Education Mokarram Mustafa Al Kaysi, Minister of Youth Basma Mohamed Al Nousour, Minister of Culture Favourite films: Casablanca and Lawrence of Arabia Favourite books: Start with Why by Simon Sinek and Good to be Great by Jim Collins Favourite dish: Grilled fish Inspiration: Sheikh Zayed's visionary leadership taught me to embrace new challenges. The number of Chinese people living in Dubai: An estimated 200,000 Number of Chinese people in International City: Almost 50,000 Daily visitors to Dragon Mart in 2018/19: 120,000 Daily visitors to Dragon Mart in 2010: 20,000 Percentage increase in visitors in eight years: 500 per cent Engine: 6.0-litre, twin-turbocharged W12 Transmission: eight-speed automatic Power: 626bhp Torque: 900Nm Price: Dh1,050,000 On sale: now Director: Jared Hess Starring: Jack Black, Jennifer Coolidge, Jason Momoa Rating: 3/5 Updated: May 02, 2025, 10:27 AM
