UAE world's top hotspot for hundreds of startups, indicate studies

Agencies
March 27, 2019

Mar 27: Studies indicate that the UAE is the world's top hotspot for hundreds of startups followed by New Zealand, Singapore, Norway, Germany, Japan and Sweden.

It is observed that startups in the country are mainly involved in e-commerce, marketplaces, and infrastructure/software as a service, which account for 69 per cent of the total number of startups. About 52 percent of these startup companies are B2C ventures, in addition to the fact that 93 percent of them are headquartered in Dubai. 

This was released ahead of this year's AIM Startup, an initiative of UAE Ministry of Economy's National Programme for Small and Medium Enterprises and Projects that aims to connect promising startups with investors and business partners from all around the world. AIM Startup will take place in Dubai on 8th-10th April in conjunction with Annual Investment Meeting (AIM).

"The UAE, which ranked 26th globally and third in the MENA region in the 2018 as per the Global Entrepreneurship Index, remains one of the most favoured destination for startup investments. Strong government support for innovation, creativity, and entrepreneurship is a key driving force behind the growing startup eco-system in the country, backed by advanced infrastructure, business-friendly environment, political and economic stability, and cosmopolitan lifestyle," said Dawood Al Shezawi, Chairman of the Organising Committee of AIM Startup.

A recent report indicated that startups and companies in the Middle East bagged $610.3 million in total funding from external investors, with 93 percent of them securing more than $1 million each.

"Over the years, we have witnessed an overwhelming investment in Middle East startup companies, particularly the UAE as a result of the growing confidence of regional and global investors in their potentials and growth capacity. To sustain this momentum, we are holding AIM Startup to provide companies with a rare opportunity to raise capital, enter into new markets, and build new alliances with key investors and business leaders from the government and private sectors. It will be an ideal platform to generate new leads, interact with their like-minded peers, and connect with potential investors from around the world," added Shezawi.

At the upcoming AIM Startup, which will run under the theme 'Harnessing Global Digitisation to Empower Startups and SMEs', more than hundreds of Startups are joining the 2019 edition to engage with investors, government representatives, corporate executives, and industry experts. The international event will not only enable the participants to showcase their unique products and services, but it will also give them a chance to take part in a number of learning and networking events.

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News Network
May 1,2020

Dubai, May 1: Saudi Arabia has reported 1,344 new coronavirus cases in the last 24 hours, bringing the total number of infections in the country to 24,097, the Ministry of Health announced on Friday.

The ministry also announced 7 more deaths and 392 new recoveries, raising the total number of fatalities and recoveries to 169 and 3,55 respectively.

Out of the 1,344 new cases reported today, 282 were confirmed in Riyadh, 237 in Madinah, 207 in Makkah, 171 in Jubail and 124 in Jeddah in addition to 114 infections in Dammam.

Authorities continue to urge people to stay at home unless necessary despite having relaxed some restrictions and curfews at the start of Ramadan.

Citizens and residents are allowed to go out for necessary needs between 9 a.m. and 5 p.m. but must adhere to precautionary measures such as wearing a face mask and maintaining social distancing practices.

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News Network
February 5,2020

Feb 5: US President Donald Trump delivered his third State of the Union address on Tuesday, the eve of his expected impeachment acquittal in the United States Senate.

The mood in the House of Representatives reflected the divisions running across the country. Republicans cheered as Trump was introduced, with some chanting "four more years" while Democrats stood silently.

On the foreign policy front, Trump said the US is "working to end America's wars in the Middle East".

He boasted about his decision to order the killing of top Iranian Commander Qassem Soliemani. That decision escalated tensions between the US and Iran, with many fearing an outright war.

Iran retaliated by attacking two Iraqi military bases housing US troops. After Trump initially said no troops were injured, the Defense Department announced dozens of US soldiers had been diagnosed with traumatic brain injuries.

Trump also reiterated his vow to withdraw US troops from Afghanistan. When he plans to do that, however, remains unclear.

US special envoy Zalmay Khalilzad told Afghan President Ashraf Ghani earlier this week that there has not been any significant progress in his talks with the Taliban. Khalilzad said he was hopeful of reaching an understanding with the group on reduction of hostilities, but did not offer any timeframe.

Trump also touted his newly-unveiled Middle East plan, which has been vehemently rejected by Palestinians.

And he received loud applause after reminding the country that ISIL (ISIS) leader Abu Bakr al-Baghdadi was killed last year in a US military operation in Syria.

"Today, the ISIS territorial caliphate has been 100 percent destroyed, and the founder and leader of ISIS - the bloodthirsty killer Al Baghdadi - is dead!" Trump said.

Economy

Trump spent much of his speech highlighting the economy's strength, including low unemployment, stressing how it has helped blue-collar workers and the middle class, though the period of growth began under his predecessor, Barack Obama.

"In just three short years, we have shattered the mentality of American decline and we have rejected the downsizing of America's destiny. We are moving forward at a pace that was unimaginable just a short time ago, and we are never going back!" Trump declared.

And what Trump calls an unprecedented boom is, by many measures, not all that different from the solid economy he inherited from Obama. Economic growth was 2.3 percent in 2019, matching the average pace since the Great Recession ended a decade ago in the first year of Obama's eight-year presidency.

Trump stressed the new trade agreements he has negotiated, including his phase-one deal with China and the United States-Mexico-Canada agreement he signed last month.

Throughout his presidency, Trump has frequently touted his stewardship of the US economy. As recently as two weeks ago, he claimed it was in "a rather dismal state" until he and his administration turned it into a "roaring geyser of opportunity".

But the numbers do not support the "geyser" narrative. There are signs the record US economic expansion - now in its 11th year - is getting long in the tooth.

Job creation is slowing. And the US economy's modest 2.3 percent growth was well short of the 3 percent growth Trump had predicted following a $1.5 trillion tax cut package he and his fellow Republicans pushed through Congress in 2017.

Trump's trade war with China weighed on US manufacturing last year as businesses held back on investment. And while factory activity bounced back in January amid the signing of a phase-one trade deal between Washington and Beijing, US tariffs still remain in place on some $360bn of Chinese goods.

The coronavirus outbreak and the ongoing troubles for Boeing surrounding the 737 MAX could also present headwinds to growth, analysts say.

Awkward moment at awkward time

One of the big questions of the night was whether Trump would directly mention impeachment. He chose to stay away. The House impeached the president at the end of last year for abuse of power related to his dealings with Ukraine and obstruction of Congress for refusing to participate in the impeachment inquiry.

The Senate started its trial more than two weeks ago, and a final vote is scheduled for 4pm local time (21GMT) on Wednesday.

Trump shared an awkward moment with House Speaker Nancy Pelosi, who kicked off the House's impeachment inquiry in September following a whistle-blower complaint that centred on Trump's efforts to get Ukraine to launch investigations into the president's political rival.

At the start of Trump's speech on Tuesday night, it appeared Pelosi went to shake the president's hand, a gesture amid the impeachment proceedings.

The president was presenting folios to Pelosi and Vice President Mike Pence as he arrived for the evening speech when it appears she reached for the shake. At the same time, Trump turned away from her to face the audience of lawmakers gathered for the annual address.

Pelosi gave a look.

Later on Twitter, Pelosi tweeted that "Democrats will never stop extending the hand of friendship to get the job done #ForThePeople. We will work to find common ground where we can, but will stand our ground where we cannot".

After the address was over, Pelosi ripped up her copy of the speech - a move the White House criticised.

Trump is only the third president to be impeached. He has denied any wrongdoing.

While some Republicans have acknowledged Trump did something wrong, they've argued that it didn't amount to an impeachable offence. Trump is headed towards an all but certain acquittal on Wednesday in the Republican-led Senate.

Trump appeals to base

As expected, Trump also dedicated a section to "American values", discussing efforts to protect "religious liberties" and limit access to abortion as he continues to court the evangelical and conservative Christian voters who form a crucial part of his base.

He attacked the Democrats over their healthcare plans, labelling them "socialist".

He brought up his signature campaign issue - immigration, at times making untrue or misleading statements.

"Before I came into office, if you showed up illegally on our southern border and were arrested, you were simply released and allowed into our country, never to be seen again," Trump falsely. "My administration has ended catch-and-release. If you come illegally, you will now be promptly removed."

But under previous administrations, Mexicans were quickly returned back over the US-Mexico border, while others were held in detention until they were deported. Some migrants from other countries were released into the interior of the US to wait out their immigration cases.

And despite Trump's claims that all irregular migrants are now "promptly" removed, there is a one million immigration court case backlog, which means many migrants wait up to three years before a court hearing before a judge who will determine whether someone is deported. After a judge rules a migrant deported, travel papers must be obtained, which often leads to further delays.

As for ending the so-called "catch and release" policy, Trump actually expanded that policy last year during a surge in migrants, releasing thousands of migrants who flooded shelters along the border. The surge has since passed, so fewer people are being held and fewer would need to be released. But an effort by immigration officials to detain children indefinitely was blocked by a judge, so children are still released into the country.

In a gesture that left nearly everyone - including its recipient - looking dumbfounded, Trump announced he was giving right-wing radio host Rush Limbaugh the nation's highest civilian honour.

Limbaugh, who announced this week that he had advanced lung cancer, appeared stunned, his jaw visibly dropping as Trump made the announcement. Others sat in silence as first lady Melania Trump draped the medal around his neck on the spot.

"Thank you for your decades of tireless devotion to our country," Trump told Limbaugh, who often promotes conspiracy theories on his radio show.

Boycott, walkouts

At least 10 Democratic lawmakers, including some who have been attacked by the president, boycotted the address in a sign of protests.

"After much deliberation, I have decided that I will not use my presence at a state ceremony to normalise Trump's lawless conduct & subversion of the Constitution," Representative Alexandria Ocasio-Cortez said in a series of tweets announcing her decision.

Ocasio-Cortez, as well as Representative Ayanna Pressley, who also boycotted, were the subjects of racist attacks by the president last year that resulted in the House voting to condemned his comments, telling the pair and two other congresswoman of colour - Ilhan Omar and Rashida Tlaib - to "go back" to their countries. All four are US citizens.

Omar and Rashida Tlaib, the first two Muslim women in Congress, attended the address, wearing traditional Palestinian and Somali clothing.

"This is what America looks like," Omar tweeted.

Tlaib, along with some other Democratic representatives said they walked out of Trump's speech, calling it "shameless".

Dozens of other congresswomen wore white, representing the colour of women suffragettes.

Other Democrats wore red, white and blue-striped lapel pins to highlight climate change, saying Trump has rolled back environmental safeguards and given free rein to polluters.

Michigan Democratic Governor Gretchen Whitmer delivered her party's official response and drew a contrast between actions taken by Democrats and the president's rhetoric.

"It doesn't matter what the president says about the stock market," Whitmer said. "What matters is that millions of people struggle to get by or don't have enough money at the end of the month after paying for transportation, student loans, or prescription drugs."

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Gulf News
April 12,2020

Hyderabad, Apr 12: In the backdrop of rising tide of anti-Muslim hatred and Islamophobia on the social media, a company in Dubai sacked an employee from Hyderabad for his hate-filled posts on Facebook.

Bala Krishna Nakka from Hyderabad, who was working as Chief Accountant at Dubai’s Moro Hub Data Solutions Company, was sacked after his Facebook went viral evoking widespread condemnation. The man had posted images on his Facebook page which showed Muslims as suicide bombers wearing bombs in the form of coronavirus cells.

It triggered demands both on Facebook and Twitter for action against him. In a quick response the company announced that the person was being sacked from his job, as the company had zero tolerance towards hate propaganda.

Moro Hub said in a statement: “At Moro, we take a zero tolerance attitude to material that is or may be deemed Islamophoic or hate speech. The tweets that we have been alerted to do not, in any way, reflect Moro’s brand values.”

Since the outbreak of coronavirus in India, a more intense hate propaganda has been unleashed by right wing elements on social media targeting India’s Muslim minority, some of whom are based in Gulf region.

As both the mainstream media, especially Indian TV channels, as well as social media users, have unleashed a campaign linking the spread of virus to a Muslim missionary organisation, the Tableeghi Jamaat, in India, a fresh war of words has broken out on social media.

While some activists have taken up it on themselves to highlight the hate propaganda and draw the attention of employers to such hate mongers, the right wing social media handles have also launched their own counter-offensives against such activists.

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