New investment opportunities and collaboration between the public and private sectors to drive growth and diversification of Abu Dhabi’s economy will be in focus at the inaugural Abu Dhabi Business Week in December.
More than 150 speakers and 8,000 policymakers, business executives, international investors and entrepreneurs will take part in the three-day event from December 4 to 6, the Abu Dhabi Media office said on Saturday.
The event is being held under the patronage of Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council.
“Abu Dhabi Business Week will serve as a platform for businesses to connect and collaborate, driving the next phase of growth and diversification within our dynamic economy,” said Ahmed Al Zaabi, chairman of the Abu Dhabi Chamber of Commerce and Industry.
“Supported by our multidimensional sustainable development strategies and a focus on new, high-growth sectors, Abu Dhabi’s business-friendly ecosystem offers promising opportunities for investors, businesses, and talents to thrive and expand on a global scale.”
Abu Dhabi's economy grew by an annualised 4.1 per cent in the second quarter of this year on the back of boost from the non-oil sector as the emirate continues to focus on diversification of its economy.
The value of Abu Dhabi’s economic output for the three months ending June 30 reached a record Dh297 billion ($80.87 billion), the Statistics Centre – Abu Dhabi said this month.
For the first six months of this year, Abu Dhabi's economy recorded a 3.7 per cent jump on an annual basis as non-oil sector expanded by 6.6 per cent in the second quarter of 2024, reaching a record Dh164.2 billion.
The non-oil sector's share of the emirate's economy rose to more than 55.2 per cent, its highest since late 2014.
Apart from investment opportunities and public-private sector partnerships, the three day event will also focus on topics like innovation, procurement, women’s empowerment, family business and entrepreneurship.
The UAE capital is also home to major funds including the Abu Dhabi Investment Authority, Mubadala Investment Company and investment and holding company ADQ.
The emirate has been recently ranked as the world's top city for sovereign wealth fund (SWF) capital, managing $1.67 trillion in assets, according to a new report by industry specialist Global SWF.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Gender equality in the workplace still 200 years away
It will take centuries to achieve gender parity in workplaces around the globe, according to a December report from the World Economic Forum.
The WEF study said there had been some improvements in wage equality in 2018 compared to 2017, when the global gender gap widened for the first time in a decade.
But it warned that these were offset by declining representation of women in politics, coupled with greater inequality in their access to health and education.
At current rates, the global gender gap across a range of areas will not close for another 108 years, while it is expected to take 202 years to close the workplace gap, WEF found.
The Geneva-based organisation's annual report tracked disparities between the sexes in 149 countries across four areas: education, health, economic opportunity and political empowerment.
After years of advances in education, health and political representation, women registered setbacks in all three areas this year, WEF said.
Only in the area of economic opportunity did the gender gap narrow somewhat, although there is not much to celebrate, with the global wage gap narrowing to nearly 51 per cent.
And the number of women in leadership roles has risen to 34 per cent globally, WEF said.
At the same time, the report showed there are now proportionately fewer women than men participating in the workforce, suggesting that automation is having a disproportionate impact on jobs traditionally performed by women.
And women are significantly under-represented in growing areas of employment that require science, technology, engineering and mathematics skills, WEF said.
* Agence France Presse
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
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Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
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