Dubai Crown Prince Launches 26 Projects during Initiative ‘Dubai 10 X’

Crown Prince of Dubai and Chairman of the Dubai Executive Council Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum. (Getty Images)
Crown Prince of Dubai and Chairman of the Dubai Executive Council Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum. (Getty Images)
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Dubai Crown Prince Launches 26 Projects during Initiative ‘Dubai 10 X’

Crown Prince of Dubai and Chairman of the Dubai Executive Council Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum. (Getty Images)
Crown Prince of Dubai and Chairman of the Dubai Executive Council Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum. (Getty Images)

Crown Prince of Dubai and Chairman of the Dubai Executive Council Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum has launched 26 projects to be undertaken by 24 Dubai Government entities under the “Dubai 10X” initiative.

The Crown Prince said on Monday that the success of governments is determined by their ability and flexibility to re-invent themselves and upgrade their services to cater to the evolving needs of the community.

Government entities should use their resources and capabilities to meet the requirements of the community, he said.

“The UAE offers the world a practical model for developing innovative government service solutions and reorient operational systems and frameworks to enhance the happiness levels and improve the quality of life of the public,” he added.

Sheikh Hamdan further said: “We are proud of this innovative model which reflects the creative potential of our nation, and reiterates the UAE leadership’s commitment to invest resources in developing path-breaking government services that can enhance the lives of individuals and ensure a bright future for upcoming generations.”

“We are ushering in a new phase of development for government services by transforming a whole host of innovative ideas into reality. The projects we have launched will transform government operations and enhance their flexibility to adapt to changes and future needs in an accelerated time frame of 24 months.”

The Dubai X 10 initiative aims at enabling the government of Dubai to keep ahead the world in all sectors and to make Dubai the city of the future through today's application of what the cities of the world will implement in 10 years.

The adoption of these projects follows the establishment of a specialized committee of international experts and specialists in the study and review of over 160 ideas, which were received from 36 parties in under 365 day.

At least 26 projects submitted by 24 government agencies in Dubai will be put into effect and are concerned with reformulating the functions and roles of government agencies and bodies, enhancing their role in the service of society.



Safe-Haven Gold Firms as Biden Move Sparks Market Uncertainty

A jeweler shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)
A jeweler shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)
TT

Safe-Haven Gold Firms as Biden Move Sparks Market Uncertainty

A jeweler shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)
A jeweler shows a gold bar at his shop in downtown Kuwait City on May 20, 2024. (Photo by YASSER AL-ZAYYAT / AFP)

Gold prices firmed on Monday as the dollar eased following US President Joe Biden's decision to withdraw from the 2024 presidential race, with investors turning to bullion as a hedge against an uncertain political and market outlook.
Spot gold rose 0.2% at $2,405.40 per ounce, as of 0510 GMT, while US gold futures gained 0.3% to $2,407.20, Reuters reported.
The prospect of rate cuts and political uncertainty in the United States are supporting gold prices, and conditions are in place for gold to see another record high before the end of 2024, said Kyle Rodda, a financial market analyst at Capital.com.
Making bullion more attractive to buyers holding other currencies, the dollar eased in the initial reaction to US President Joe Biden abandoning his reelection bid, clearing the way for another Democrat to challenge Donald Trump.
When accepting the Republican nomination on Thursday, Trump reiterated his promise to cut corporate taxes and interest rates. Analysts also expect a Trump presidency would make for tougher trade relations, which could result in inflationary tariffs.
"I think there is an almost unstoppable process of decoupling between the US and China, it will only become more severe or accelerate if it is a Trump presidency. Gold will certainly benefit from greater geopolitical tensions," Rodda said.
Prices scaled an all-time high of $2,483.60 last week on increased chances of US interest rate cuts this year, with markets pricing in a 97% chance of a cut in September, according to the CME FedWatch Tool.
On the data front, the main focus this week will be on Friday's US personal consumption expenditures (PCE) figure and other data including July S&P Global flash PMIs, advance second-quarter GDP, and weekly jobless claims.
Among other metals, spot silver fell 0.5% to $29.11 per ounce, platinum slipped 0.3% to $959.99, while palladium rose 1.1% to $916.18.