The exterior of Warehouse 421, which opens next week in Mina Zayed, Abu Dhabi. The buildings are clad in corrosion-­resistant CorTen steel. Mona Al Marzooqi / The National
The exterior of Warehouse 421, which opens next week in Mina Zayed, Abu Dhabi. The buildings are clad in corrosion-­resistant CorTen steel. Mona Al Marzooqi / The National

Designed to be different: a look at Abu Dhabi’s Warehouse 421



Waiting for a cultural festival in Abu Dhabi is a bit like hanging around for a silver taxi these days: you wait for ages for one to come along, then a whole cluster arrive at once.

Next week sees the opening of Abu Dhabi Art on Saadiyat Island and the Sheikh Zayed ­Heritage ­Festival in Al Wathba; and on Thursday, Warehouse 421, the latest arts-and-culture initiative from the Salama bint Hamdan Al ­Nahyan Foundation (SHF) also opens with a three-day festival in Mina Zayed.

Warehouse 421 is designed to support local creative talent while providing a gentle, community-­focused introduction to the arts in all their variety. The guiding principle behind the opening festival would definitely seem to be less is a bore and more is more.

“One of the aims is to try to drive new audiences to the arts, and one of the ways we hope to do this is by persuading people to come, have a good time, listen to a performance or to have some food – and then, while they are here, they can also enjoy the arts,” explains Khulood Al Atiyat, SHF’s manager for arts, culture and heritage.

The "arts" on offer include two photographic exhibitions: Lest We Forget: Emirati Family ­Photographs 1950-1999 and Mina Zayed: Through the Lens of Jack Burlot, both housed in Warehouse 421, and running until next year.

These are accompanied by two architectural exhibitions, the temporary 1:100 The Warehouse ­Reimagined, which exhibits proposals for the warehouse's transformation as envisaged by local artists and designers, and a permanent exhibit, housed in the minimalist black cabin that sits on one side of Warehouse 421's new plaza, which charts the process behind the venue's ­development.

In another nearby warehouse, 411, visitors will be able to see Art: Process & Practice, a temporary exhibition of work produced by fellows from the Salama bint ­Hamdan Emerging Artists Fellowship programme, an annual, year-long course of study taught by visiting members of the faculty from the illustrious Rhode Island School of Design in the ­United States.

If Warehouse 421’s exhibitions are designed to provide audiences with a longer-term, slower fix, it’s the weekend’s temporary opening events that burn brightest.

Thanks to the temporary pedestrianisation of the road outside the warehouse, visitors will be able to wander through the precincts of Mina’s old dhow yard, explore an international designers’ market housed in temporary shops made from recycled shipping containers, eat street food, watch impromptu street performances and attend evening musical performances by international acts such as the ­Grammy Award-­winning Saharan band Tinariwen, the Ethio-jazz pioneer Mulatu Astatke and the Arab-Swedish crossover folk musicians Tarabband.

Once the three-day festival is over, Warehouse 421, 411 and the associated precincts will remain, as the foundation’s response to what it sees as the demand for a community-­focused cultural organisation that has been missing in the capital since the closure of the old Abu Dhabi Cultural ­Foundation.

Clad in a mesh of corrosion-­resistant CorTen steel, Warehouse 421 and its new public plaza have been designed by the Danish studio Bjarke Ingels Group, Google’s choice as the designer for its vast new ­Mountain View headquarters campus in Silicon Valley.

Bjarke Ingels Group’s partner on the Google scheme is the British designer Thomas Heatherwick, who was appointed by SHF in 2014 as the designer for one of Abu ­Dhabi’s newest public open spaces, the yet-to-be-built, 125,000-square-metre Al Fayah Park on Airport Road.

The trick with Warehouse 421, as Al Atiyat admits, will be to keep people coming to Mina Zayed long after the opening weekend is ­complete.

“Soon, we’ll announce another six-month programme that will also combine performing arts, talks, exhibitions and workshops – the kind of experiences that people can take part in during the launch event – that will be brought back as part of a rolling programme,” she says. “We want people to continue to come to Warehouse 421 after the launch event, and for them to have a platform where they can experience art and culture in Abu Dhabi and we hope that will continue to happen on a year-round basis.”

A weekend of free workshops for creatives of all ages

Mix & Match Abu Dhabi

Studio 3

November 19, 6.30pm to 9pm; November 20 and 21, 3.30pm to 9pm

Providing a family-friendly exercise in DIY urban planning and printmaking, this workshop allows creatives of all ages to make their own urban landscapes by decorating tote bags with unique combinations of modular stamps.

Led by the founders of Studio Kawakeb in Beirut, these rolling workshops last anything from 15 minutes to half an hour, and are free. No prior art skills or registration for the workshops are ­required.

Draw & Stitch

Studio 2

November 19, 6.30pm to 8.30pm; November 20 and 21, 3.30pm to 5.30pm and 6.30pm to 8.30pm

Led by Ola Dajani, the founder and designer of the Dubai-based Vinny Dolls, these two-hour-long workshops are open to ages 13 and above. Participants learn about the art of doll-making while creating figures based on celebrities from the worlds of art and design. This workshop is free, while no prior skills are necessary, but preregistration is required.

A Vernacular Story

Warehouse 411, Studio 1, November 20 and 21, 11am to 6pm

Prior booking is essential for this intensive, hands-on, two-day workshop led the by the product designers Mia and Younes Duret from Morocco.

Aimed at artists, designers and students, the workshop explores ideas of reinterpretation, and is inspired by found objects and visual narratives from the Mina Zayed area. This workshops are free, but spaces are limited and applicants will be shortlisted.

Zellij

Studio 4

November 19, 6.30pm to 8pm and 8.30pm to 10pm; November 20 and 21, 3.30pm to 5pm, 5.30pm to 7pm and 7.30pm to 9pm

This hour-and-a-half-long workshop offers participants the chance to practise zellij, from the Arabic word al zulaycha, which means “little polished stone”, which is the art of decorative tilework that developed in Morocco in imitation of Roman mosaics. Led by expert instructors from the London-based studio Art of Islamic Pattern, participants of all ages will be able to explore geometric Islamic pattern-making using traditional techniques. The workshops are free, no prior art skills are necessary and all materials are supplied. Registration is required.

Little Artists

Little Artists’ Studio

November 20 and 21, 3.30pm to 8pm

Run by the Dubai-based community arts initiative thejamjar, Little Artists is a series of studio-­based workshops for children ages 3 to 9. The workshops invite junior creatives to explore various arts and crafts activities, such as clay modelling, basket and paper weaving, paper-lantern-making and zooming cars. You can register on the door for this workshop.

Register via email at workshops@warehouse421.ae.

Exhibitions

Lest We Forget: Emirati Family Photographs 1950-1999

Warehouse 421, November 19 to June 18

A visual archive of everyday Emirati life and society as it was experienced by the UAE's first generation, Lest We Forget started life as a Zayed University student project in 2011, when Michele Bambling, an American art historian, asked her students at the Abu Dhabi university to explore their family photos.

Over the next two-and-half years, about 50 students were involved, and the result is a collection of personal portraits and family heirlooms that manage to be intensely private and historically fascinating at the same time.

Charting social changes in family life, the role of women, fashion and urban change, Lest We Forget acts as an antidote to the images, often taken by non-locals, corporations, the Government and the media, that are normally used to illustrate life in the early years of the emirates. The show is accompanied by a book.

Mina Zayed: Through the Lens of Jack Burlot

Warehouse 421, November 19 to March 19

Jack Burlot first came to Abu Dhabi in 1974 to report for the French photo agency Gamma on the effect of the oil crisis.

While staying at the Hilton Hotel, Abu Dhabi’s only luxury accommodation at the time, the then-20-year-old met Cathy, a French model who was in Abu Dhabi as part of a travelling art and fashion show that had been sponsored by Air France.

Together, they conducted their own impromptu fashion shoot, using dresses from Cacharel’s spring/summer 1975 collection, set against the backdrop of a booming oil town that was rushing headlong from the Arabia of tradition to modernity.

Thirty-nine years later, ­Burlot’s remarkable images of Abu ­Dhabi earned him a return invitation to the city as a guest of the ­Salama bint ­Hamdan Al Nahyan ­Foundation (SHF), which commissioned him to take the pictures of Mina Zayed that can be seen in this exhibition.

1:100 The Warehouse Re-imagined

Warehouse 421, November 19 to March 19

As a part of Warehouse 421’s redevelopment, SHF invited local artists and designers to submit their own plans for a warehouse-­based arts venue, and the results are on display here as a series of 1:100 scale models.

Art: Process & Practice

Warehouse 411, November 19 to January 23

Just a short distance from ­Warehouse 421, Warehouse 411 houses Art: ­Process & Practice, an exhibition of works made by the students from the first two cohorts of the year-long Salama bint Hamdan Emerging Artists Fellowship (SEAF).

A technical and practical course for Emiratis who are keen to pursue a career in art and design, the SEAF is a partnership between the foundation and the prestigious Rhode Island School of Design, whose faculty visit Abu Dhabi to conduct intensive classes as part of each SEAF ­programme.

On completion of the programme, the most talented SEAF students are able to gain funding and admission to the Rhode Island School of Design, where they can pursue a master’s in fine arts.

After the exhibition closes, Warehouse 411 will be converted into the future home of the SEAF initiative, complete with workshops, galleries and ­studios.

The sweet sounds of the launch weekend

Tinariwen

Thursday, November 19, 8.30pm

The Grammy Award-winning ­Saharan group Tinariwen are a collective of Tuareg musicians from the deserts of Northern Mali. Formed in 1979, the band has won a following beyond North Africa with performances at festivals globally, playing their Berber and North African rhythms and instruments, including the lute and one-string fiddle.

Mulatu Astatke

Friday, November 20, 8.30pm

Born in 1943, the Ethiopian musician, composer and bandleader Mulatu Astatke is credited as the man who created Ethio-jazz, a blend of music that mixes his own vibraphone, Ethiopian tuning, American jazz, Latin rhythms and generous use of the wah-wah pedal. Trained in London, New York and Boston, Astatke performed with Duke Ellington when the American bandleader toured Ethiopia and Zambia in the early 1970s, and has released more than 20 albums to date. Astatke’s early recordings started to attract a cult following 15 years ago, when they were unearthed and reissued by a Frances Falceto, a French record producer.

Tarabband

Saturday, November 21, 8.30pm

Formed in 2008, Tarabband are a group of Swedish folk musicians all of whom originate from somewhere in the Arab world. The band’s music speaks of survival, exile, life and rebirth. Tarabband’s music is influenced by the group’s diverse backgrounds and by folk, gypsy flamenco and jazz.

All performances are free.

For more information, visit www.warehouse421.ae

nleech@thenational.ae

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The story in numbers

18

This is how many recognised sects Lebanon is home to, along with about four million citizens

450,000

More than this many Palestinian refugees are registered with UNRWA in Lebanon, with about 45 per cent of them living in the country’s 12 refugee camps

1.5 million

There are just under 1 million Syrian refugees registered with the UN, although the government puts the figure upwards of 1.5m

73

The percentage of stateless people in Lebanon, who are not of Palestinian origin, born to a Lebanese mother, according to a 2012-2013 study by human rights organisation Frontiers Ruwad Association

18,000

The number of marriages recorded between Lebanese women and foreigners between the years 1995 and 2008, according to a 2009 study backed by the UN Development Programme

77,400

The number of people believed to be affected by the current nationality law, according to the 2009 UN study

4,926

This is how many Lebanese-Palestinian households there were in Lebanon in 2016, according to a census by the Lebanese-Palestinian dialogue committee

The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

Turkish Ladies

Various artists, Sony Music Turkey 

How to join and use Abu Dhabi’s public libraries

• There are six libraries in Abu Dhabi emirate run by the Department of Culture and Tourism, including one in Al Ain and Al Dhafra.

• Libraries are free to visit and visitors can consult books, use online resources and study there. Most are open from 8am to 8pm on weekdays, closed on Fridays and have variable hours on Saturdays, except for Qasr Al Watan which is open from 10am to 8pm every day.

• In order to borrow books, visitors must join the service by providing a passport photograph, Emirates ID and a refundable deposit of Dh400. Members can borrow five books for three weeks, all of which are renewable up to two times online.

• If users do not wish to pay the fee, they can still use the library’s electronic resources for free by simply registering on the website. Once registered, a username and password is provided, allowing remote access.

• For more information visit the library network's website.

Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part one: how cars came to the UAE

 

Thank You for Banking with Us

Director: Laila Abbas

Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum

Rating: 4/5

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Premier League results

Saturday

Tottenham Hotspur 1 Arsenal 1

Bournemouth 0 Manchester City 1

Brighton & Hove Albion 1 Huddersfield Town 0

Burnley 1 Crystal Palace 3

Manchester United 3 Southampton 2

Wolverhampton Wanderers 2 Cardiff City 0

West Ham United 2 Newcastle United 0

Sunday

Watford 2 Leicester City 1

Fulham 1 Chelsea 2

Everton 0 Liverpool 0

Singham Again

Director: Rohit Shetty

Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5

England v South Africa schedule
  • First Test: Starts Thursday, Lord's, 2pm (UAE)
  • Second Test: July 14-18, Trent Bridge, Nottingham, 2pm
  • Third Test: The Oval, London, July 27-31, 2pm
  • Fourth Test: Old Trafford, Manchester, August 4-8
Gulf rugby

Who’s won what so far in 2018/19

Western Clubs Champions League: Bahrain
Dubai Rugby Sevens: Dubai Hurricanes
West Asia Premiership: Bahrain

What’s left

UAE Conference

March 22, play-offs:
Dubai Hurricanes II v Al Ain Amblers, Jebel Ali Dragons II v Dubai Tigers

March 29, final

UAE Premiership

March 22, play-offs: 
Dubai Exiles v Jebel Ali Dragons, Abu Dhabi Harlequins v Dubai Hurricanes

March 29, final

COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

Movie: Saheb, Biwi aur Gangster 3

Producer: JAR Films

Director: Tigmanshu Dhulia

Cast: Sanjay Dutt, Jimmy Sheirgill, Mahie Gill, Chitrangda Singh, Kabir Bedi

Rating: 3 star

Company%20Profile
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Jigra
Director: Vasan Bala
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Rated: 3.5/5

TCL INFO

Teams:
Punjabi Legends 
Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan

Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
When December 14-17

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENamara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJune%202022%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EMohammed%20Alnamara%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EMicrofinance%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E16%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFamily%20offices%0D%3Cbr%3E%3C%2Fp%3E%0A
THE BIO

Mr Al Qassimi is 37 and lives in Dubai
He is a keen drummer and loves gardening
His favourite way to unwind is spending time with his two children and cooking

COMPANY%20PROFILE
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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
The specs

Engine: 4 liquid-cooled permanent magnet synchronous electric motors placed at each wheel

Battery: Rimac 120kWh Lithium Nickel Manganese Cobalt Oxide (LiNiMnCoO2) chemistry

Power: 1877bhp

Torque: 2300Nm

Price: Dh7,500,00

On sale: Now

 

The biog

Job: Fitness entrepreneur, body-builder and trainer

Favourite superhero: Batman

Favourite quote: We must become the change we want to see, by Mahatma Gandhi.

Favourite car: Lamborghini

Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Ovasave%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20November%202022%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Majd%20Abu%20Zant%20and%20Torkia%20Mahloul%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Healthtech%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%20Three%20employees%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-seed%3Cbr%3E%3Cstrong%3EInvestment%3A%3C%2Fstrong%3E%20%24400%2C000%3C%2Fp%3E%0A
COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Living in...

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.

The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
SPECS

Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now

If you go

The flights

Emirates flies from Dubai to Seattle from Dh5,555 return, including taxes. Portland is a 260 km drive from Seattle and Emirates offers codeshare flights to Portland with its partner Alaska Airlines.

The car

Hertz (www.hertz.ae) offers compact car rental from about $300 per week, including taxes. Emirates Skywards members can earn points on their car hire through Hertz.

Parks and accommodation

For information on Crater Lake National Park, visit www.nps.gov/crla/index.htm . Because of the altitude, large parts of the park are closed in winter due to snow. While the park’s summer season is May 22-October 31, typically, the full loop of the Rim Drive is only possible from late July until the end of October. Entry costs $25 per car for a day. For accommodation, see www.travelcraterlake.com. For information on Umpqua Hot Springs, see www.fs.usda.gov and https://soakoregon.com/umpqua-hot-springs/. For Bend, see https://www.visitbend.com/.

The specs: Lamborghini Aventador SVJ

Price, base: Dh1,731,672

Engine: 6.5-litre V12

Gearbox: Seven-speed automatic

Power: 770hp @ 8,500rpm

Torque: 720Nm @ 6,750rpm

Fuel economy: 19.6L / 100km

Neymar's bio

Total club appearances 411

Total goals scored 241

Appearances for Barca 186

Goals scored for Barca 105

Tips from the expert

Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.

  1. Sellers should focus on providing high-quality used goods at attractive prices to buyers.
  2. It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
  3. Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
  4. Be creative and look around your home for valuable items that you no longer need but might be useful to others.
EA Sports FC 25
APPLE IPAD MINI (A17 PRO)

Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits

Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps

Biometrics: Touch ID, Face ID

Colours: Blue, purple, space grey, starlight

In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

Hunger and Fury: The Crisis of Democracy in the Balkans
Jasmin Mujanović, Hurst Publishers

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%3Cp%3E%0D%3Cstrong%3EDiet%3C%2Fstrong%3E%20%0D%3Cbr%3E7am%20-%20Protein%20shake%20with%20oats%20and%20fruits%0D%3Cbr%3E10am%20-%205-6%20egg%20whites%0D%3Cbr%3E1pm%20-%20White%20rice%20or%20chapati%20(Indian%20bread)%20with%20chicken%0D%3Cbr%3E4pm%20-%20Dry%20fruits%20%0D%3Cbr%3E7.30pm%20-%20Pre%20workout%20meal%20%E2%80%93%20grilled%20fish%20or%20chicken%20with%20veggies%20and%20fruits%0D%3Cbr%3E8.30pm%20to%20midnight%20workout%0D%3Cbr%3E12.30am%20%E2%80%93%20Protein%20shake%20%0D%3Cbr%3E%3Cstrong%3ETotal%20intake%3A%3C%2Fstrong%3E%204000-4500%20calories%20%0D%3Cbr%3E%3Cstrong%3ESaidu%E2%80%99s%20weight%3A%3C%2Fstrong%3E%20110%20kg%0D%3Cbr%3E%3Cstrong%3EStats%3A%3C%2Fstrong%3E%20Biceps%2019%20inches.%20Forearms%2018%20inches%3C%2Fp%3E%0A
Non-oil%20trade
%3Cp%3ENon-oil%20trade%20between%20the%20UAE%20and%20Japan%20grew%20by%2034%20per%20cent%20over%20the%20past%20two%20years%2C%20according%20to%20data%20from%20the%20Federal%20Competitiveness%20and%20Statistics%20Centre.%C2%A0%3C%2Fp%3E%0A%3Cp%3EIn%2010%20years%2C%20it%20has%20reached%20a%20total%20of%20Dh524.4%20billion.%C2%A0%3C%2Fp%3E%0A%3Cp%3ECars%20topped%20the%20list%20of%20the%20top%20five%20commodities%20re-exported%20to%20Japan%20in%202022%2C%20with%20a%20value%20of%20Dh1.3%20billion.%C2%A0%3C%2Fp%3E%0A%3Cp%3EJewellery%20and%20ornaments%20amounted%20to%20Dh150%20million%20while%20precious%20metal%20scraps%20amounted%20to%20Dh105%20million.%C2%A0%3C%2Fp%3E%0A%3Cp%3ERaw%20aluminium%20was%20ranked%20first%20among%20the%20top%20five%20commodities%20exported%20to%20Japan.%C2%A0%3C%2Fp%3E%0A%3Cp%3ETop%20of%20the%20list%20of%20commodities%20imported%20from%20Japan%20in%202022%20was%20cars%2C%20with%20a%20value%20of%20Dh20.08%20billion.%3C%2Fp%3E%0A
MATCH INFO

Manchester City 2 (Mahrez 04', Ake 84')

Leicester City 5 (Vardy 37' pen, 54', 58' pen, Maddison 77', Tielemans 88' pen)

Man of the match: Jamie Vardy (Leicester City)

Four reasons global stock markets are falling right now

There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”

At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.

2. Stronger dollar

High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.” 

3. Global trade war

Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

4. Eurozone uncertainty

Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.

Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”

The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
MATCH INFO

Inter Milan 2 (Vecino 65', Barella 83')

Verona 1 (Verre 19' pen)

MATCH INFO

Europa League final

Who: Marseille v Atletico Madrid
Where: Parc OL, Lyon, France
When: Wednesday, 10.45pm kick off (UAE)
TV: BeIN Sports

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Clinicy%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Prince%20Mohammed%20Bin%20Abdulrahman%2C%20Abdullah%20bin%20Sulaiman%20Alobaid%20and%20Saud%20bin%20Sulaiman%20Alobaid%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Riyadh%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2025%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20HealthTech%3Cbr%3E%3Cstrong%3ETotal%20funding%20raised%3A%3C%2Fstrong%3E%20More%20than%20%2410%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Middle%20East%20Venture%20Partners%2C%20Gate%20Capital%2C%20Kafou%20Group%20and%20Fadeed%20Investment%3C%2Fp%3E%0A
Ain Dubai in numbers

126: The length in metres of the legs supporting the structure

1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch

16 A380 Airbuses: The equivalent weight of the wheel rim.

9,000 tonnes: The amount of steel used to construct the project.

5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place

192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.

Anti-semitic attacks
The annual report by the Community Security Trust, which advises the Jewish community on security , warned on Thursday that anti-Semitic incidents in Britain had reached a record high.

It found there had been 2,255 anti-Semitic incidents reported in 2021, a rise of 34 per cent from the previous year.

The report detailed the convictions of a number of people for anti-Semitic crimes, including one man who was jailed for setting up a neo-Nazi group which had encouraged “the eradication of Jewish people” and another who had posted anti-Semitic homemade videos on social media.