A competition to design and build driverless buses for the streets of Dubai has been shortlisted to 12 finalists — each bidding to win a $1 million prize.
They include entries from France, the UK, China, Taiwan and the US, and have come from academic institutions and private businesses.
The Dubai Roads and Transport Authority challenged local and international engineers to solve the first and last mile challenges facing public transport users in reaching their final destinations.
The Dubai World Challenge for Self-Driving Transport 2023 addresses current problems, including traffic congestion and the drop in public transport use.
“Self-driving transport has become a key pillar of RTA’s strategy and we are keen on launching several initiatives to turn the self-driving transportation concept into a reality in Dubai,” said Mattar Al Tayer, RTA Director General.
“Designating self-driving buses as a theme for the third renewal of the challenge is a catalyst to achieve Dubai’s Smart Self-Driving Transport Strategy aimed to transform 25 per cent of mobility journeys in Dubai into smart and driverless journeys by 2030.”
Previous RTA competitions challenged scientists to find solutions for automated delivery services and the development of drones.
For the automated bus challenge, six international companies qualified for the final stage in the industry leaders category: Adastec from the US, King Long from China, Alexander Dennis from the UK, Navya and Gaussin from France and iAuto from Taiwan.
Meanwhile, the six universities qualified for the finals in the local academia category are Khalifa University of Science and Technology, American University of Sharjah, Heriot-Watt University, Manipal Academy of Higher Education, University of Dubai and the University of Bolton.
The selection of finalists was based on several parameters such as credibility and vision, the extent of innovation, the relevance of skills and expertise, and commercial elements like operability and value-added.
Qualifying criteria included the relevance to the needs of Dubai and the UAE, with the winners to be announced during the Dubai World Congress for Self-Driving Transport 2023.
“This edition of the challenge, which focuses on self-driving buses, features an increase in the number of participants in both categories with 27 submissions received from worldwide candidates,” said Mr Al Tayer.
Abu Dhabi driverless taxi trials: in pictures
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
The finalists
Player of the Century, 2001-2020: Cristiano Ronaldo (Juventus), Lionel Messi (Barcelona), Mohamed Salah (Liverpool), Ronaldinho
Coach of the Century, 2001-2020: Pep Guardiola (Manchester City), Jose Mourinho (Tottenham Hotspur), Zinedine Zidane (Real Madrid), Sir Alex Ferguson
Club of the Century, 2001-2020: Al Ahly (Egypt), Bayern Munich (Germany), Barcelona (Spain), Real Madrid (Spain)
Player of the Year: Cristiano Ronaldo, Lionel Messi, Robert Lewandowski (Bayern Munich)
Club of the Year: Bayern Munich, Liverpool, Real Madrid
Coach of the Year: Gian Piero Gasperini (Atalanta), Hans-Dieter Flick (Bayern Munich), Jurgen Klopp (Liverpool)
Agent of the Century, 2001-2020: Giovanni Branchini, Jorge Mendes, Mino Raiola
How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
Roll of honour 2019-2020
Dubai Rugby Sevens
Winners: Dubai Hurricanes
Runners up: Bahrain
West Asia Premiership
Winners: Bahrain
Runners up: UAE Premiership
UAE Premiership
}Winners: Dubai Exiles
Runners up: Dubai Hurricanes
UAE Division One
Winners: Abu Dhabi Saracens
Runners up: Dubai Hurricanes II
UAE Division Two
Winners: Barrelhouse
Runners up: RAK Rugby
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