Next week the UAE gears up to celebrate its 48th National Day. It is a time for festivity as the occasion provides an opportunity to reflect on the achievements of a nation that has made rapid strides in just half a century of its existence and has matured well beyond its years. An oasis of political stability, religious tolerance and technological advancements in a largely restive neighbourhood, the UAE has for decades been home to citizens from all over the world and from all walks of life, who have come seeking greater opportunities and a better life for themselves. Indeed, there is much to be proud of for the nation as a whole. And yet there can be no room for complacency in an ever-changing world either.
It is for this reason that every year since 2017, its leaders have been convening at the UAE Government Annual Meeting to discuss the future direction of the country. The timing of the two-day summit is apt as it is held the week before National Day. Beyond its obvious symbolism, the date falls at the end of the year – thereby giving its stakeholders a timeframe within which to take stock of their accomplishments and make resolutions. More than 500 officials from federal and local government authorities are discussing how the UAE's infrastructure could be developed over the next 10 years. Also on the agenda is government preparation for the country's centenary celebrations in 2071, the first phase of which will be developed and implemented over the next decade. At the summit, officials outlined 11 ways to improve life in the Emirates, ranging from boosting tourism to embracing the digital economy and delivering better care for children.
The annual meeting is impressive in its ambition and scope – but it also crucial as a road map for the future. For one, it reflects the government’s ability to take the long view on several issues – such as planning for a post-oil future – at a time when its counterparts around the world are finding it increasingly difficult to plan far ahead, given deep divisions prevalent in society. Issues such as globalisation and trade – ideas that once received wide consensus across political divides in the West – are now being hotly debated and are consequently complicating policymaking efforts. Furthermore, authorities in many countries – both in the developed and emerging world – have been inadequately prepared for disruptions brought about by new technologies and climate change.
In stark contrast, leaders in the UAE have been able to create a national framework for local initiatives, such as Abu Dhabi's Ghadan 21 and the Dubai Plan 2021 – government programmes designed to improve the respective emirates' competitiveness in various aspects of life, from business to innovation. This reflects the realisation that the country, while being a federation of seven emirates, makes even greater progress by marching in lockstep. It is this unity among its stakeholders that will ensure not just the durability but also the continued prosperity of the nation.
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
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
Company%20profile
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Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
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.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Company%20Profile
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Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
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.
ARGENTINA SQUAD
Goalkeepers: Franco Armani, Agustin Marchesin, Esteban Andrada
Defenders: Juan Foyth, Nicolas Otamendi, German Pezzella, Nicolas Tagliafico, Ramiro Funes Mori, Renzo Saravia, Marcos Acuna, Milton Casco
Midfielders: Leandro Paredes, Guido Rodriguez, Giovani Lo Celso, Exequiel Palacios, Roberto Pereyra, Rodrigo De Paul, Angel Di Maria
Forwards: Lionel Messi, Sergio Aguero, Lautaro Martinez, Paulo Dybala, Matias Suarez