The UAE plans to invest $50 billion in Canada as part of an investment framework agreement between the two countries.
As part of the agreement, the Arab world’s second largest economy will invest in vital sectors including energy, AI logistics, mining and other strategic industries, the Ministry of Investment said.
Under the directive of the UAE President Sheikh Mohamed, Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, approved the investment framework, with Canadian Prime Minister Mark Carney and Mohamed Alsuwaidi, UAE Minister of Investment and managing director and chief executive of ADQ, in attendance.
Mr Carney is visiting the UAE as Canada focuses on strengthening economic ties with Abu Dhabi. The foreign direct investment stock from the UAE stood at $8.8 billion in 2024.
In October, the UAE signed an initial pact with Canada focusing on artificial intelligence and digital innovation, in a move aimed at boosting bilateral ties. The countries will explore opportunities to collaborate in the digital infrastructure sector, with a focus on developing data centres and AI projects, the Ministry of Investment said in a post on X at the time.
Sheikh Mohamed on Thursday held talks with Mr Carney in Abu Dhabi, as the countries signed an agreement to strengthen economic co-operation.
The two leaders explored ways to boost ties in key sectors such as investment, trade, technology, AI and clean energy during a meeting at Qasr Al Shati, as part of Mr Carney’s official visit to the Emirates.
In the past few years, the UAE has been building trade and investment ties through Comprehensive Economic Partnership Agreements (Cepa) to diversify its non-oil economic base.
The country aims to increase the value of its trade to $1 trillion by 2031. The UAE also aims to double the size of its economy to exceed $800 billion by the same year, with Cepa programmes among the central planks of the national strategy.
Since the Cepa programme was launched in September 2021, the UAE has concluded agreements with countries around the globe.
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London’s hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
RESULTS
Argentina 4 Haiti 0
Peru 2 Scotland 0
Panama 0 Northern Ireland 0
Getting there
The flights
Emirates and Etihad fly to Johannesburg or Cape Town daily. Flights cost from about Dh3,325, with a flying time of 8hours and 15 minutes. From there, fly South African Airlines or Air Namibia to Namibia’s Windhoek Hosea Kutako International Airport, for about Dh850. Flying time is 2 hours.
The stay
Wilderness Little Kulala offers stays from £460 (Dh2,135) per person, per night. It is one of seven Wilderness Safari lodges in Namibia; www.wilderness-safaris.com.
Skeleton Coast Safaris’ four-day adventure involves joining a very small group in a private plane, flying to some of the remotest areas in the world, with each night spent at a different camp. It costs from US$8,335.30 (Dh30,611); www.skeletoncoastsafaris.com
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Fixtures
Sunday, December 8, Sharjah Cricket Stadium – UAE v USA
Monday, December 9, Sharjah Cricket Stadium – USA v Scotland
Wednesday, December 11, Sharjah Cricket Stadium – UAE v Scotland
Thursday, December 12, ICC Academy, Dubai – UAE v USA
Saturday, December 14, ICC Academy, Dubai – USA v Scotland
Sunday, December 15, ICC Academy, Dubai – UAE v Scotland
Note: All matches start at 10am, admission is free
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 258hp from 5,000-6,500rpm
Torque: 400Nm from 1,550-4,000rpm
Transmission: Eight-speed auto
Fuel consumption: 6.1L/100km
Price: from Dh362,500
On sale: now
How tumultuous protests grew
- A fuel tax protest by French drivers appealed to wider anti-government sentiment
- Unlike previous French demonstrations there was no trade union or organised movement involved
- Demonstrators responded to online petitions and flooded squares to block traffic
- At its height there were almost 300,000 on the streets in support
- Named after the high visibility jackets that drivers must keep in cars
- Clashes soon turned violent as thousands fought with police at cordons
- An estimated two dozen people lost eyes and many others were admitted to hospital