The Media Zone Authority – Abu Dhabi announced initiatives aimed at supporting the emirate’s drive to accelerate economic growth over the next three years, including an extension to its entrepreneurship scheme to enable more small businesses to operate from home as well as encouraging and promoting licensing options to free zone partners.
"The new, forward-thinking initiatives ... will create more opportunities for all companies in Abu Dhabi," said Maryam Eid AlMheiri, chief executive of Media Zone Authority – Abu Dhabi and twofour54, the media zone located in the capital and which is home to The National. "By making it easier for private sector companies to do business, it will create more opportunities for growth.
“We have recently offered a dual licence to partners in the media zone to enable them to work with onshore companies and government entities,” she said.
In addition, the Media Zone said it was extending its entrepreneurships scheme to enable more small businesses to trade from home in the first two years as they get their businesses off the ground.
The move comes in response to the new Dh50 billion stimulus plan for Abu Dhabi announced last week by Sheikh Mohammed bin Zayed, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, designed to help lift gross domestic product growth, increase consumption and revitalise the property market.
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The initiatives announced by Sheikh Mohamed also include allowing entrepreneurs to start their businesses from home, 10,000 new jobs for Emiratis in the private sector, and a dual licence for free zone firms.
“At the media zone, 37 per cent of our partner base are owned and operated by Emiratis who feel the need to be part of a creative community," said Ms AlMheiri.
The overall stimulus, which is nearly equal to the 2018 federal budget of Dh51.4bn, follows a series of measures that the emirate has taken to boost growth, create jobs and diversify its economy away from oil income.
Last month, the UAE Government said it planned to grant 10-year residency visas to certain expatriates and allow 100 per cent ownership in companies in selected sectors.
Economists had already forecast faster growth for 2018 thanks to higher government spending as Dubai prepares to host Expo 2020 and Abu Dhabi loosens its purse strings after cutbacks aimed at narrowing a fiscal deficit caused by the oil slump.
“The news of a stimulus package in Abu Dhabi is definitely welcome and comes along side efforts by various emirates to boost relatively weak economic growth,” Mohamed Abu Basha, head of economic research at Cairo investment bank EFG-Hermes, said last week.
Last month, the Central Bank of the UAE raised its economic growth forecast for 2018 to 2.7 per cent from its previous projection of 2.5 per cent thanks to an expected expansion in the non-oil sector despite slower year-on-year growth in the first quarter.
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
Company%20Profile
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Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
'Spies in Disguise'
Director: Nick Bruno and Troy Quane
Stars: Will Smith, Tom Holland, Karen Gillan and Roshida Jones
Rating: 4 out of 5 stars
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
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Company%20profile
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Afghanistan fixtures
- v Australia, today
- v Sri Lanka, Tuesday
- v New Zealand, Saturday,
- v South Africa, June 15
- v England, June 18
- v India, June 22
- v Bangladesh, June 24
- v Pakistan, June 29
- v West Indies, July 4
COMPANY%20PROFILE%20
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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
Company%20Profile
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Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
The Saga Continues
Wu-Tang Clan
(36 Chambers / Entertainment One)
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
BUNDESLIGA FIXTURES
Friday Stuttgart v Cologne (Kick-off 10.30pm UAE)
Saturday RB Leipzig v Hertha Berlin (5.30pm)
Mainz v Borussia Monchengladbach (5.30pm)
Bayern Munich v Eintracht Frankfurt (5.30pm)
Union Berlin v SC Freiburg (5.30pm)
Borussia Dortmund v Schalke (5.30pm)
Sunday Wolfsburg v Arminia (6.30pm)
Werder Bremen v Hoffenheim (9pm)
Bayer Leverkusen v Augsburg (11.30pm)
The specs
Common to all models unless otherwise stated
Engine: 4-cylinder 2-litre T-GDi
0-100kph: 5.3 seconds (Elantra); 5.5 seconds (Kona); 6.1 seconds (Veloster)
Power: 276hp
Torque: 392Nm
Transmission: 6-Speed Manual/ 8-Speed Dual Clutch FWD
Price: TBC
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Match info
Newcastle United 1
Joselu (11')
Tottenham Hotspur 2
Vertonghen (8'), Alli (18')
The specs: 2018 Renault Koleos
Price, base: From Dh77,900
Engine: 2.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 170hp @ 6,000rpm
Torque: 233Nm @ 4,000rpm
Fuel economy, combined: 8.3L / 100km
The biog
Family: He is the youngest of five brothers, of whom two are dentists.
Celebrities he worked on: Fabio Canavaro, Lojain Omran, RedOne, Saber Al Rabai.
Where he works: Liberty Dental Clinic
COMPANY%20PROFILE
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
EMILY%20IN%20PARIS%3A%20SEASON%203
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THE SPECS
Engine: 3.5-litre V6
Transmission: six-speed manual
Power: 325bhp
Torque: 370Nm
Speed: 0-100km/h 3.9 seconds
Price: Dh230,000
On sale: now
