Browsing: UAE

Selected news stories from the United Arab Emirates. The must read and most discussed news from the seven emirates in UAE – Abu Dhabi, Dubai, Sharjah, Ajman, Ras Al Khaima, Fujairah and Umm Al Quwain.

UAE
25-year-old Indian wins one million USD at Dubai Duty Free raffle draw

Two new dollar millionaires were announced at the Dubai Duty Free (DDF) Millennium Millionaire and Finest Surprise draw held today at Concourse D Terminal 1 of Dubai International Airport. A 25-year old Indian national, Dhaneesh Kotharamban, became one of the latest US$1 Million winners, in Series 266 with ticket number 4255. Dhaneesh bought his first ever ticket in the million dollar promotion a few weeks ago while traveling to Kerala for a holiday. A resident of Dubai for a year and a half, he works as an electrician for Craven Electrical Company and was surprised upon receiving a call of a lifetime from DDF representative. Speaking from Kerala, he commented, “I’ve never thought that I could win this big at such a young age. Thank God for this wonderful gift and thank you Dubai Duty Free.” The second Millennium Millionaire winner of the day is Yazan Qaryouti, who won in…

UAE
Dubai ranked as the best city for expats in MENA

Dubai has ranked the best city for expats in the Middle East and Africa, according to Mercer’s 20th Quality of Living Survey. Dubai ranks 74th globally in overall quality of living, making it the number one city in the Middle East and Africa region for the sixth year in a row. Dubai was closely followed by Abu Dhabi, which claimed 77th place. Only four other cities in this region make the top 100, including Muscat (70), Tel Aviv (87), Manama (93), and Kuwait City (99).  Vienna tops the global ranking for the ninth year running and is followed by Zurich, with Auckland and Munich in joint third place. The survey, said to be one of the world’s most comprehensive, is conducted annually to enable multinational companies and other organisations to compensate employees fairly when placing them on international assignments. Published on 21 March 2018

UAE
NRI tycoon Yusuff Ali is now richer than Donald Trump

NRI businessman, LuLu Group chairman M.A. Yusuffali with his net worth of $5 billion, is richer than US president Donald Trump, according to the Forbes magazine’s 2018 list of billionaires. Trump’s ranking on the list fell to 766th place from 544th in the last edition. His wealth is now being estimated at $3.1 billion, $400 million less than a year ago. Ali, who ranked 388 in the Forbes list is the 19th richest man in India and the richest Malayali, the magazine said. The seven Indian billionaires in the UAE command $22.7 billion (Dh83.3 billion) in assets. According to Forbes magazine, Yusuffali followed by Micky Jagtiani ($4.4 billion), B.R. Shetty ($4 billion), Ravi Pillai ($3.9 billion), Sunny Varkey ($2.4 billion), Joy Alukkas ($1.5 billion) and Shamsheer Vayalil ($1.5 billion). India has 121 billionaires – 19 more than last year – making them the third largest group of the ultra-rich after…

UAE
Impact of blockade on Qatar fading, says IMF

The economic and financial impact on Qatar of a nine-month Saudi-led blockade is fading, but some risks for the Gulf emirate remain, the International Monetary Fund has said. In a report released this week, the IMF said the effect of the blockade on economic activity in Qatar had been “transitory” as new trade routes were quickly established and growth remained positive. Foreign financing and resident private sector deposits had fallen by $40bn but that had been offset by cash injections by the central bank and the Qatar Investment Authority – the emirate’s sovereign wealth fund, it said. Although Qatar’s economy and banking and financial systems remain sound, there are still some risks, the IMF said. “The main risks relate to the possibility of lower hydrocarbon prices, the implementation of planned fiscal measures and uncertainty associated with the lingering impact of the diplomatic rift.” Like other Gulf energy producers, Qatar has…

UAE
Indian wins USD 1 million after buying Dubai raffle ticket online

A 40-year-old Indian man got lucky after buying a Dubai Duty Free Millionaire raffle ticket for the first time online. Prabin Thomas, who runs a networking business selling IT products in Kerala, is the latest winner of USD 1 Million (Rs 6.5 crores) at Dubai Duty Free Millennium Millionaire draw held today. When asked what he intends to do with his fortune, he said he will expand his networking business and consider starting a small software company. Following the Millennium Millionaire draw, one more winner was announced in the Dubai Duty Free Finest Surprise Promotion to win a luxury motorbike – a BMW R Nine T Urban GS (Light White). Afzaan Jilla, a 33-year-old Indian national based in Dubai, will be driving home a luxury motorbike – a BMW R Nine T Urban GS. The expat who works as an administrator bagged the reward with ticket number 0730. He is…

UAE
Indian expat wins AED 7 million in Big Ticket Abu Dhabi raffle

Indian expatriate Thansilas Babu Mathew has been declared as the lucky winner of the AED 7 million (Rs 12.4 crores) Big Ticket raffle draw in Abu Dhabi. Thansilas, who had been living in Dubai for 26 years, was announced as the winner of this month’s bumper prize on Monday. “This was my eighth time taking part in the Big Ticket draw, I usually buy raffle tickets for the Dubai Duty Free, I was always hopeful that I would win one day and finally my dream has come true, so I’m very happy that I always kept trying, this is an amazing gift for me,” Thansilas said. Babu, who has a wife and three grown up children, said he plans to keep his day job as an aircraft engineer for Emirates Airlines. “I have no intention of quitting my job; that’s something that I want to continue doing. I don’t have…

UAE
Abu Dhabi banks slashed 1,300 jobs in 2017

Nearly 1,300 jobs were slashed across banks in Abu Dhabi during 2017, with the total number of bank employees in the emirate falling to 11,900 at the end of the fourth quarter of 2017 , Gulf News has reported. According to the latest figure released by the Statistics Centre Abu Dhabi (Scad), the total number of employees has fallen by 10.3 per cent when compared to the 13,200 employees in service at the end of the fourth quarter of 2016. Of the 1,300 jobs axed during the year, around 200 of those were cut in the second half of 2017. An earlier report from Scad had said the number of employees in the banking sector stood at 12,100 at the end of June 2017 as opposed to 13,000 at the end of June 2016. The redundancies in 2017 come as industries across the board cut costs amid pressure from slower…

UAE
Sridevi’s death in Dubai highlights delays in repatriating deceased migrant workers

The death of Indian actress Sridevi in Dubai has highlighted a rarely-discussed issue affecting the families of deceased migrant workers in Gulf countries – long delays in repatriating their bodies. The 54-year-old, who was widely regarded as India’s first female superstar, died by accidental drowning in her hotel bathtub on Feb. 24. Sridevi’s body was flown from the United Arab Emirates (UAE) to India on Feb. 27, and her funeral was held the following day. In contrast, it has been nearly a month since migrant worker Bhojanna Arepally died of an unspecified illness in Muscat, the capital of Oman, according to migrant rights campaigner Bhim Reddy. Arepally’s body is expected to be flown to the southern Indian city of Hyderabad, said Reddy, who has been coordinating with authorities on repatriation. He said that it often takes months to return the bodies of deceased migrant workers. The wait for Sridevi’s body…

UAE
Indians bought Dubai properties worth AED 83 billion in 5 years

Indian nationals, who form the largest foreign investor group in Dubai’s real estate market, have bought properties worth more than AED83 billion ($22.6 billion) in the last five years, according to new statistics. The spending power – from 2013 to 2017 – has been revealed in figures compiled by Dubai Land Department ahead of the Dubai Property Festival taking place in April. Indians invested AED15.6 billion in Dubai’s real estate in 2017, AED12 billion in 2016 and AED20 billion in 2015 – the highest in a year, DLD said. Indian nationals form the largest expatriate population in the UAE and they are also the largest foreign owners of business establishments in the country. Most of Dubai’s residential stock of 490,000 homes is occupied by the Indian expatriate population. Indian expatriates mostly rent homes although tens of thousands of freehold homes are also owned by Indian nationals. Dubai Land Department recorded…

UAE
India to be ‘Country of Honour’ at prestigious Abu Dhabi Festival 2018

In a significant honour, India has been declared as the ‘Guest of Honour’ country for the prestigious 15th Abu Dhabi Festival (ADF), a month-long festival celebrating art and culture, to be held this month in Abu Dhabi. It will see performances by ‘The Merchants of Bollywood an Indian theatrical extravaganza, ‘We The Living, a classical Indian dance inspired by Rumis ‘The Human Being by the Tanusree Shankar Dance Academy and sarod maestro Ustad Amjad Ali Khan. The Festival will be held under the patronage of Sheikh Nahayan Mabarak Al Nahayan, UAE Minister of Tolerance. The selection of India as Guest of Honour country is significant as 2018 is being celebrated as the ‘Year of Zayed’, to mark the birth centenary of Sheikh Zayed, the founding father of the UAE and the country’s first President. ADF 2018 will see the participation of more than 500 international artistes and 40 composers from…

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