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Dubai chases long-term growth as property booms, seeks to blunt debt risk

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Dubai chases long-term growth as property booms, seeks to blunt debt risk

1 Dubai’s economy recovers quickly after COVID-19
2 Russian real estate demand increased during the Ukrainian war
3 Aiming to join the ranks of major economic centers within 10 years
4 Targeting population growth for growth
5 Transparency remains a challenge
DUBAI, June 19 (Reuters) – Fueled by a rapid post-coronavirus economic recovery, Dubai has set global ambitions as it strives to attract talent and capital to fuel long-term growth and is betting it can avoid past debt crises that have hampered

The approach pursued by this quirky Gulf city-state is a reboot of a quirky economic model that has focused for decades on property investment, tourism and the influx of foreign capital.

The real estate sector is booming again, fueled by wartime demand from Russia in Ukraine and lax residency rules, and analysts are now pointing to a resurgence of the problems that lulled Dubai after the 2008 global credit crunch. More security barriers are being installed.

Home to the world’s tallest tower and a man-made island, Dubai is pursuing lofty new goals. The 10-year economic plan, known as D33, aims to double the size of Dubai’s economy in 10 years and make it one of the world’s top four financial centers.

It also wants to extend the length of the public beach from 21 km to 105 km by 2040 and revive the dusty Palm Jebel Ali island, abandoned after the 2008 financial crisis.

By 2023, tourist numbers will return to roughly 2019 levels, and Dubai last year became the world’s fourth-busiest ultra-luxury real estate market, with 219 home sales exceeding $10 million, according to a Knight Frank research.
At the same time, rising real estate prices and demand for the ultra-luxury segment are evoking memories of the excesses of the past.

In 2008, the global financial crisis hit Dubai hard, causing a flight of capital and talent, a collapse in real estate prices and a scramble for debt repayments by highly leveraged powerhouses known as Government Related Entities (GREs). , for its acronym in English).

The oil-rich capital of the United Arab Emirates, Abu Dhabi, has finally put up a $20 billion lifeline, with a widely anticipated third renovation.

Nasser Al Shaikh, who served as Dubai’s chief financial officer until 2009, told Reuters Dubai risks becoming too expensive to live in, meeting demand for middle-income real estate as the population grows. For this reason, new developments must guarantee a sufficient offer. , he said.

“If private developers can’t pull it off, the government and GRE could play a bigger role in getting it done and keeping prices right,” Shaikh said of Dubai’s phenomenal growth, citing major companies that have taken the lead. .

According to official statistics, Dubai’s population will grow to more than 3.55 million in 2022, 2.1% more than in 2021 and 4% more than in 2020. S&P expects the number to exceed 4 million by 2026.

lesson learned
Justin Alexander, director of Khaleej Economics, said: “There is always a risk of new, large loans (by GRE developers) based on unrealistic expectations for property sales. But we can learn from past cycles. We hope that this reduces this risk.” Gulf Analyst at GlobalSource Partners.

The Dubai Media Office did not immediately respond to a request for comment on how the company’s strategy works to ensure growth is sustainable and not speculative.

Dubai has announced plans to establish a Debt Management Authority in 2022 to pay off or restructure some outstanding debts and list 10 government actions to raise capital and deepen financial markets. Last year, I listed four of them.

Shaikh said that current finance officers have learned from the experience of the past 15 years.

“Dubai has a strategy for today and the development of its capital markets is a key component of Dubai’s overall financial plan, leading not only to generating liquidity and debt servicing, but also deepening the markets. of capital within the financial sector”.

“World Safe Haven”
As the commercial hub of the United Arab Emirates, Dubai has invested resources in areas such as social reform, business reform, and digital technology. Unlike the prosperous capital Abu Dhabi, oil revenues account for less than 2% of GDP.

Median property prices rose 12.8% in the first quarter, and villa prices rose nearly 15%, according to real estate research firm CBRE. Villa sales surpassed a 2014 high. In Better Homes’ May Top 10 Buyers, buyers from Russia ranked third, behind India and the UK.

“Dubai has truly established itself as a global safe haven,” said Richard Wynd, Group Managing Director of Better Homes (Dubai). It is stable, he added.

“This is no longer a speculative market. It’s a market based on real investments. This is a big difference from what we saw in 2008-09 and probably the last spike around 2014. I think.”
The recovery has also strengthened the balance sheets of major Dubai companies, including GREs such as Emirates Airlines, and Emirates NBD (ENBD.DU) and Emaar Properties, which are mostly government-owned but publicly traded.

S&P estimates that Dubai’s total general government debt will fall from 78% of GDP in 2020 to 51% of GDP, or about $66 billion, by the end of 2023, while general public sector debt will remain at about 100% of GDP. Large non-financial ERG debt.

The Dubai 5-year credit default swap (cost of default insurance) hit a record low of 66 basis points on March 8 this year, amid the 2020 COVID-19 pandemic. from its highest level of 316 basis points. .
transparency
Dubai attracted an estimated $12.8 billion in foreign direct investment last year, according to the Financial Times’ ‘fDi Market’ 2022 report published last month. FDI into Saudi Arabia was about 30 billion riyals ($8 billion).

The demand for infrastructure, schools and hospitals in Dubai remains high despite increasing competition from the Gulf countries.

Officials interviewed by Reuters highlighted concerns that a lack of data and transparency, especially among GREs, has made it difficult to properly assess Dubai’s fundamentals.

The United Arab Emirates will be on the ‘grey list’ of the Financial Action Task Force (FATF) by 2022, a global financial crime watchdog, with reduced capital inflows, reduced M&A activity and the risk of potential loss Investor confidence is rising.

But some high-profile investors are bullish.

“Dubai is one of the most resilient destinations,” said Philipp Zuber, CEO of Kelzner International, which operates the Atlantis and One&Only luxury resorts, adding that it has kept its borders open and business booming even during the coronavirus pandemic.

Kerzner, which is partly owned by Dubai’s sovereign wealth fund, will open its second Atlantis resort on Palm Jumeirah in 2023, an “ultra-luxury” Atlantis, The Royal. The Royal Mansion Penthouse, where Beyoncé once stayed, costs $100,000 a night.

($1 = 3.6728 United Arab Emirates Dirham)

(1 dollar = 3,750

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The Symbolism of a Crown: Understanding Its Majesty and Significance

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The Symbolism of a Crown: Understanding Its Majesty and Significance

Symbolism of a Crown, In various cultures and throughout history, the crown has held significant symbolic value. From ancient civilizations to modern-day representations, the crown is emblematic of power, authority, and prestige. Let’s delve into the profound meanings associated with the symbolism of a crown.

Introduction to Symbolism of a Crown

Symbolism is the art of imbuing objects, gestures, or motifs with deeper meaning beyond their literal interpretation. It allows for the communication of complex ideas and emotions through simple visual cues. The crown, as a symbol, embodies various concepts depending on cultural, historical, and contextual factors.

Symbolism of a Crown Crowns in Ancient Civilizations

In ancient Mesopotamia, Egypt, and Greece, crowns were worn by rulers as symbols of their divine right to rule. These crowns often featured intricate designs and precious materials, signifying the exalted status of the wearer.

Crowns in Medieval Times

During the medieval period in Europe, crowns became synonymous with monarchy and feudal power structures. Kings and queens adorned elaborate crowns during coronation ceremonies, symbolizing their sovereignty over their realms.

Symbolism of a Crown Power and Authority

The crown represents the pinnacle of authority in monarchies. It signifies the ruler’s dominion over their subjects and their right to govern. The weight of the crown symbolizes the burdens and responsibilities of leadership.

Symbolism of a Crown Divine Right

In many monarchies, rulers claimed divine right, asserting that their authority was bestowed upon them by a higher power. The crown, in this context, symbolizes the divine sanction of the ruler’s reign.

Symbolism of a Crown in Christianity

In Christianity, the crown holds dual symbolism. On one hand, it represents the glory and majesty of God. On the other hand, it symbolizes the reward for righteous deeds in the afterlife, as mentioned in biblical scriptures.

Symbolism of a Crown in Hinduism

In Hinduism, the crown, or “mukuta,” is often associated with deities and divine beings. It represents sovereignty, wisdom, and spiritual enlightenment. Crowns adorn the heads of gods and goddesses in Hindu iconography, signifying their elevated status.

Symbolism of a Crown in Buddhism

In Buddhism, the crown symbolizes the attainment of enlightenment. It is often depicted atop the head of Buddhas and bodhisattvas, representing their transcendent wisdom and compassion.

Symbolism of a Crown Fashion and Jewelry

In contemporary culture, crowns are often used as fashionable accessories and decorative elements in jewelry. They symbolize elegance, sophistication, and luxury, reflecting the wearer’s desire for status and glamour.

Symbolism of a Crown Pop Culture References

In popular culture, crowns frequently appear as symbols of royalty and authority in literature, film, and television. Characters adorned with crowns embody themes of leadership, ambition, and the pursuit of greatness.

Symbolism of a Crown Achievement and Success

Metaphorically, the crown represents achievement and success. It symbolizes the attainment of one’s goals and aspirations, signifying triumph over adversity and the realization of one’s potential.

Symbolism of a Crown Inner Royalty

Beyond its external representation, the crown also serves as a metaphor for inner royalty. It encourages individuals to recognize their inherent worth and dignity, empowering them to embrace their unique strengths and virtues.

Conclusion

The symbolism of a crown is multifaceted and rich in meaning. From its historical association with monarchy to its contemporary significance in popular culture, the crown continues to captivate the human imagination. Whether worn as a symbol of earthly power or embraced as a metaphor for inner sovereignty, the crown endures as a timeless emblem of authority, prestige, and aspiration.

Symbolism of a Crown: FAQs

What does a crown symbolize in different cultures? Crowns symbolize various concepts across cultures, including authority, sovereignty, divinity, and enlightenment. In ancient Egypt, crowns represented the divine status of pharaohs, while in European monarchies, they denoted royal authority and legitimacy.

Are crowns still relevant in modern society? Yes, crowns continue to hold significance in modern society, albeit in symbolic and ceremonial contexts. While monarchies may be less prevalent, crowns remain potent symbols of power, achievement, and aspiration in popular culture and societal imagery.

What is the significance of jewels in crowns? Jewels in crowns carry symbolic meanings, with each gemstone representing virtues such as purity, wisdom, and strength. For example, diamonds symbolize purity and invincibility, while rubies signify passion and vitality.

Why are crowns used in heraldry? In heraldry, crowns serve as symbols of rank, authority, and lineage. Different designs of crowns denote varying levels of nobility and aristocracy, reflecting the hierarchical structure of feudal societies.

How do crowns inspire personal greatness? Crowns serve as powerful symbols of personal greatness, embodying qualities such as leadership, integrity, and resilience. By embracing these virtues, individuals can strive for excellence and realize their full potential, metaphorically attaining their own crowning achievements.

Can anyone wear a crown? While physical crowns may be reserved for monarchs and ceremonial occasions, the symbolic meaning of the crown is accessible to all. By embodying the virtues associated with the crown, such as wisdom, courage, and compassion, anyone can metaphorically wear the crown of personal greatness.

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The Symbol of a Crown: Unveiling Its Significance and History

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The Symbol of a Crown: Unveiling Its Significance and History

Symbol of a crown, In various cultures and contexts, the crown has served as a symbol of authority, power, and prestige. From ancient times to modern-day interpretations, the crown holds significant cultural, historical, and psychological importance. Let’s delve deeper into the rich symbolism of the crown and its various representations across different domains.

Introduction to the Symbol of a Crown

The symbol of a crown embodies notions of sovereignty, supremacy, and majesty. Historically, crowns have been worn by monarchs and rulers to signify their elevated status and dominion over their subjects. This symbol has endured through the ages, maintaining its significance in various forms of expression.

Symbol of a crown Royalty and Monarchy

In monarchies, the crown is synonymous with royalty and sovereign power. It represents the authority vested in the reigning monarch, symbolizing their right to rule and govern. Throughout history, crowns have been crafted with intricate designs and adorned with precious gemstones, reflecting the opulence and grandeur associated with monarchy.

Symbol of a crown Religious Symbolism

Beyond secular authority, crowns also hold religious symbolism. In Christianity, crowns symbolize the reward of righteousness and eternal glory. The crown of thorns, worn by Jesus Christ during his crucifixion, signifies sacrifice and redemption, illustrating the juxtaposition of suffering and divine sovereignty.

Evolution of Crown Symbolism

The symbolism of the crown has evolved over time, adapting to the cultural contexts of different societies. While it has traditionally represented political power, its meaning has expanded to encompass broader themes such as achievement, honor, and legacy.

Depictions in Paintings and Sculptures

Artists throughout history have depicted crowns in various forms, capturing their regal essence and symbolic significance. From Renaissance paintings to modern sculptures, the crown serves as a recurring motif, evoking themes of kingship, glory, and legacy.

Symbolic Use in Literature and Poetry

In literature and poetry, the crown is often employed as a metaphor for victory, triumph, and glory. Poets and writers draw upon its imagery to convey themes of achievement, success, and nobility. Whether depicted as a physical ornament or a metaphorical emblem, the crown inspires awe and reverence.

Symbol of a crown Influence in Movies and TV Shows

In popular culture, crowns frequently appear as symbols of authority and status. From fantasy epics to historical dramas, characters adorned with crowns command respect and admiration, embodying the ideals of leadership and sovereignty.

Symbol of a crown Impact on Fashion and Trends

The allure of the crown extends to the realm of fashion, where it serves as a coveted accessory symbolizing elegance and glamour. Fashion designers often incorporate crown motifs into their designs, infusing regal elements into contemporary trends.

Symbol of a crown Power and Authority

At its core, the crown symbolizes power and authority, representing the pinnacle of hierarchical order. Whether worn by monarchs or depicted in artistic renderings, the crown signifies dominion over realms both tangible and metaphorical.

Symbol of a crown Achievement and Success

In addition to political connotations, the crown symbolizes achievement and success. It serves as a visual reminder of one’s accomplishments and contributions, inspiring aspirations for greatness and excellence.

Symbol of a crown Meaning of Different Crown Designs

In heraldry, crowns feature prominently as symbols of rank and lineage. Different crown designs convey distinct meanings, ranging from the simple coronet of a nobleman to the ornate diadem of a monarch.

Usage in Coats of Arms and Flags

Coats of arms and flags often incorporate crown symbols to signify sovereignty and allegiance. These heraldic emblems serve as visual representations of noble lineage and dynastic heritage, imbuing coats of arms with historical significance and cultural pride.

Effects on Perception and Behavior

Psychologically, the crown symbol can influence perception and behavior, shaping attitudes towards authority and leadership. Studies suggest that exposure to crown imagery can evoke feelings of respect and deference, influencing social dynamics and decision-making processes.

Association with Self-Esteem and Confidence

Moreover, the crown symbol is associated with concepts of self-esteem and confidence. Just as wearing a physical crown can instill a sense of pride and empowerment, internalizing the symbolism of the crown can bolster self-assurance and belief in one’s abilities.

Conclusion

In conclusion, the symbol of a crown transcends mere ornamentation, embodying profound meanings and cultural significance. Whether as a representation of political authority, artistic inspiration, or psychological archetype, the crown symbolizes the enduring human quest for power, achievement, and transcendence.

5 Unique FAQs

  1. What is the origin of the crown symbol? The crown symbol has ancient roots, dating back to early civilizations where rulers adorned themselves with headgear denoting authority and status.
  2. How has the symbolism of the crown evolved over time? While traditionally associated with monarchy and political power, the symbolism of the crown has expanded to encompass broader themes such as achievement, honor, and legacy.
  3. What are some famous examples of crowns in history? Famous examples include the Crown Jewels of various monarchies, such as the British Crown Jewels and the Imperial Crown of Russia, renowned for their historical significance and exquisite craftsmanship.
  4. How does the crown symbol manifest in modern culture? In modern culture, the crown symbol appears in various forms, including fashion accessories, movie props, and digital imagery, reflecting its enduring appeal and relevance.
  5. What psychological effects does the crown symbol have on individuals? The crown symbol can evoke feelings of respect, admiration, and aspiration, influencing perceptions of authority and self-esteem among individuals exposed to its imagery.
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Career Day Ideas: Fostering Futures Through Engagement

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Career Day Ideas: Fostering Futures Through Engagement

Career Day Ideas, often organized by educational institutions, provides students with the opportunity to interact with professionals from diverse fields, learn about career options, and gain practical insights into the workforce. These events aim to bridge the gap between academic learning and real-world applications, equipping students with the knowledge and skills necessary for future success.

Importance of Career Day Ideas

Career Day Ideas plays a pivotal role in shaping students’ career aspirations and academic pursuits. By exposing them to a wide array of professions, career day cultivates curiosity, encourages exploration, and helps students make informed decisions about their future paths. Moreover, it instills a sense of purpose and motivation, inspiring students to set ambitious goals and strive for excellence in their endeavors.

Career Day Ideas Choosing Suitable Activities

Career Day Ideas, To create a dynamic and engaging career day experience, organizers must curate a diverse range of activities that cater to different interests and learning styles.

Career Day Ideas Interactive Workshops

Offer hands-on workshops that allow students to delve into specific industries or skills. From coding and robotics to culinary arts and graphic design, interactive workshops provide valuable insights and spark interest in various career paths.

Career Day Ideas Career Fair

Host a career fair featuring representatives from different companies, organizations, and educational institutions. This enables students to network, ask questions, and explore potential internship or job opportunities.

Career Day Ideas Guest Speakers

Invite accomplished professionals to share their career journeys, insights, and advice with students. Hearing firsthand experiences from successful individuals can be incredibly inspiring and enlightening for young learners.

Career Day Ideas Mock Interviews

Conduct mock interviews to help students refine their communication skills, build confidence, and prepare for future job interviews. Provide constructive feedback and guidance to help students improve their interview techniques.

Career Day Ideas Target Audience Considerations

When planning career day activities, it’s essential to consider the diverse needs and interests of the target audience. Tailor the event to cater to students of different ages, academic levels, and career aspirations, ensuring inclusivity and relevance for all participants.

Career Day Ideas Incorporating Technology

Career Day Ideas, Harness the power of technology to enhance career day activities and engage digital-native students. Consider incorporating virtual reality simulations, online career assessments, or interactive presentations to make the event more immersive and interactive.

Collaboration with Local Businesses

Forge partnerships with local businesses, industry associations, and community organizations to enrich the career day experience. Collaborating with external stakeholders not only provides valuable resources and expertise but also strengthens ties between the school and the broader community.

Promotion and Planning

Effective promotion and meticulous planning are key to the success of any career day event. Leverage social media, school newsletters, and word-of-mouth to generate excitement and encourage participation. Create a detailed itinerary, allocate resources efficiently, and ensure seamless coordination among staff, volunteers, and external partners.

Ensuring Diversity and Inclusivity

Prioritize diversity and inclusivity in all aspects of career day planning and execution. Strive to represent a wide range of industries, professions, and backgrounds to ensure that all students feel represented and empowered to pursue their aspirations, regardless of their gender, ethnicity, or socioeconomic status.

Budgeting for Career Day

Develop a realistic budget that covers expenses such as venue rental, transportation, catering, and materials. Seek sponsorship opportunities, apply for grants, or explore crowdfunding options to supplement funding and maximize resources without compromising the quality of the event.

Feedback and Evaluation

Gather feedback from participants, volunteers, and stakeholders to evaluate the effectiveness of the career day event. Use surveys, focus groups, or interviews to solicit insights, identify areas for improvement, and inform future planning efforts. Celebrate successes and learn from challenges to ensure continuous growth and enhancement of the event.

Case Studies: Successful Career Day Events

Explore case studies of successful career day events from around the world, highlighting innovative approaches, best practices, and lessons learned. Drawing inspiration from real-world examples can provide valuable insights and inspiration for planning your own career day event.

Conclusion

Career day is a powerful vehicle for inspiring and empowering the next generation of leaders, innovators, and changemakers. By embracing creativity, collaboration, and inclusivity, educators can create transformative experiences that ignite passion, foster exploration, and pave the way for brighter futures.

FAQs

1. What is the purpose of Career Day? Career day aims to expose students to various career options, provide insights into the workforce, and inspire them to pursue their passions and aspirations.

2. How can I involve students in planning Career Day? Encourage student involvement by forming planning committees, soliciting feedback on activity ideas, and empowering them to take ownership of specific tasks or initiatives.

3. What industries should be represented at Career Day? Ideally, career day should feature a diverse range of industries, including STEM, healthcare, business, arts, trades, and public service, among others, to cater to the diverse interests and aspirations of students.

4. How can technology enhance Career Day activities? Technology can enhance career day activities by facilitating virtual tours, interactive workshops, online networking opportunities, and access to digital resources and tools that supplement traditional learning methods.

5. How do I measure the success of Career Day? Success can be measured through participant feedback, engagement levels, post-event surveys, attendance rates, and anecdotal evidence of students’ increased awareness, enthusiasm, and motivation towards career exploration and planning.

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