According to the organisers, it is the "world's biggest brainstorming session, the foremost think tank on the planet".
From tomorrow until Wednesday, Dubai will be the stage for a display of raw brainpower such as rarely comes together in a single location, especially in the era of modern communications.
More than 1,000 academics, business people, politicians, religious leaders and even media representatives will gather to discuss, face to face, virtually every important issue facing the world today.
The summit of the World Economic Forum's Global Agenda Councils is in town.
The experts will cogitate and debate economics and finance, the environment, geopolitics and security, science and technology, and society and human capital.
The aim is to hammer out the final agenda for the annual meeting of the WEF in Davos in January, but those attending in Dubai are rather more down to earth than the superstars of politics, finance and the arts that gather in the Swiss alpine town.
Martina Gmür, the senior director of the network of councils that forms the summit, said: "You've got to start with ideas, to try to understand the big issues of the day."
There is no shortage of issues. The councils comprise experts on 75 identified subjects, ranging from the international monetary system to the Arctic, and from youth unemployment to the role of faith, taking in poverty, personal transportation systems and precision medicine on the way.
This year, there are some significant additions to the agenda: new economic growth models, governance for sustainability, and "complex systems" are among the dozen categories added to the councils' portfolio.
For the first time, regional councils will deliberate alongside the subject-based specialisms. So experts from the Arab world, Ukraine and Japan, among others, will also contribute to the debates.
There is a greater presence from the UAE than ever before. It is the fifth time the summit has been held in the country, but this time there are Emiratis on more than 40 of the total 88 councils (including regional organisations), 60 per cent more than last year.
"We have been criticised in the past for being too orientated to the USA and Europe, and we are trying to get away from the notion we're only interested in the West," says Ms Gmür.
The summit has been enthusiastically welcomed by the UAE. Sultan Al Mansouri, the federal Minister of Economy and one of the co-chairmen of the summit, said yesterday: "The UAE wants to be a full partner in the global dialogue. We want to talk about the positive experience of the UAE over the years since the global financial crisis, which is still affecting some countries."
Sami Dhaen Al Qamzi,the director general of the Dubai Department of Economic Development and the other co-chairman, said: "The summit coincides with our campaign to stage the Expo 2020 event, and we hope our focus on development and free trade will emphasise our efforts for Expo."
Perhaps inevitably, the main focus of the summit will continue to be on the economic, financial and geopolitical problems of the world. Ms Gmür said: "There are big issues in terms of global economic uncertainty, the problems of the euro zone, market instability and public indebtedness.
"I'm sure there will also be much thought given to the crisis of global leadership, as the summit comes so soon after big political changes in the US and China, and in the middle of calls for a change in leadership style in Europe."
Lee Howell, a managing director of the WEF said the summit should focus on long-term strategic thinking, not just crisis management. "We need some innovative entrepreneurial thinking.
"To manage the world's risks leaders have got to take some risks themselves."
He also called for some "holistic thinking - for example, problems of water, food and energy security are all linked".
Many issues relating to the Middle East have risen to the top of the WEF's schedule in the 18 months since the start of the Arab Spring. Youth unemployment, education, human rights and women's empowerment are all on the summit's agenda.
Ms Gmür said: "On the big issues, for example like Iran or the Arab Spring, we have to try to understand them. Nobody does this like we do. We are not pretending to be advocates or implementation groups. We are partners with government and other organisations to generate new ideas."
fkane@thenational.ae
Company%20Profile
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Tax authority targets shisha levy evasion
The Federal Tax Authority will track shisha imports with electronic markers to protect customers and ensure levies have been paid.
Khalid Ali Al Bustani, director of the tax authority, on Sunday said the move is to "prevent tax evasion and support the authority’s tax collection efforts".
The scheme’s first phase, which came into effect on 1st January, 2019, covers all types of imported and domestically produced and distributed cigarettes. As of May 1, importing any type of cigarettes without the digital marks will be prohibited.
He said the latest phase will see imported and locally produced shisha tobacco tracked by the final quarter of this year.
"The FTA also maintains ongoing communication with concerned companies, to help them adapt their systems to meet our requirements and coordinate between all parties involved," he said.
As with cigarettes, shisha was hit with a 100 per cent tax in October 2017, though manufacturers and cafes absorbed some of the costs to prevent prices doubling.
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
AL%20BOOM
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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.
MATCH INFO
Manchester City 1 Chelsea 0
De Bruyne (70')
Man of the Match: Kevin de Bruyne (Manchester City)
Traits of Chinese zodiac animals
Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent
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.
Company%20Profile
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Jewel of the Expo 2020
252 projectors installed on Al Wasl dome
13.6km of steel used in the structure that makes it equal in length to 16 Burj Khalifas
550 tonnes of moulded steel were raised last year to cap the dome
724,000 cubic metres is the space it encloses
Stands taller than the leaning tower of Pisa
Steel trellis dome is one of the largest single structures on site
The size of 16 tennis courts and weighs as much as 500 elephants
Al Wasl means connection in Arabic
World’s largest 360-degree projection surface
COMPANY%20PROFILE%20
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The struggle is on for active managers
David Einhorn closed out 2018 with his biggest annual loss ever for the 22-year-old Greenlight Capital.
The firm’s main hedge fund fell 9 per cent in December, extending this year’s decline to 34 percent, according to an investor update viewed by Bloomberg.
Greenlight posted some of the industry’s best returns in its early years, but has stumbled since losing more than 20 per cent in 2015.
Other value-investing managers have also struggled, as a decade of historically low interest rates and the rise of passive investing and quant trading pushed growth stocks past their inexpensive brethren. Three Bays Capital and SPO Partners & Co., which sought to make wagers on undervalued stocks, closed in 2018. Mr Einhorn has repeatedly expressed his frustration with the poor performance this year, while remaining steadfast in his commitment to value investing.
Greenlight, which posted gains only in May and October, underperformed both the broader market and its peers in 2018. The S&P 500 Index dropped 4.4 per cent, including dividends, while the HFRX Global Hedge Fund Index, an early indicator of industry performance, fell 7 per cent through December. 28.
At the start of the year, Greenlight managed $6.3 billion in assets, according to a regulatory filing. By May, the firm was down to $5.5bn.
Company%20Profile
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The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
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
SPECS%3A%20Polestar%203
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3ELong-range%20dual%20motor%20with%20400V%20battery%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E360kW%20%2F%20483bhp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E840Nm%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20automatic%3Cbr%3E%3Cstrong%3EMax%20touring%20range%3A%3C%2Fstrong%3E%20628km%3Cbr%3E%3Cstrong%3E0-100km%2Fh%3A%3C%2Fstrong%3E%204.7sec%3Cbr%3E%3Cstrong%3ETop%20speed%3A%3C%2Fstrong%3E%20210kph%20%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh360%2C000%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ESeptember%3Cbr%3E%3C%2Fp%3E%0A
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5