ABU DHABI // A new classification system to regulate the operation and rental of farms is to be introduced.
The move follows a decree by Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, reported Al Ittihad, the sister newspaper of The National.
A joint committee, that includes the municipalities of Abu Dhabi, Al Ain and Western Region, will be formed in the next three months to implement the decision.
Musabbah Al Marar, acting director of Abu Dhabi Municipality, said the classification system would be ready within a year.
In the meantime, he said, the municipality would coordinate with relevant authorities to classify existing farms and suggest suitable rents.
Mr Al Marar said one of the regulations would make sure that built-up areas in farms would not exceed 15 per cent of their land.
newsdesk@thenational.ae
How to become a Boglehead
Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.
• Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.
• Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.
• Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.
• Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.
• Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.
• Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.
• Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.
• Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.
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- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
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