Small shops are not the only eyesore


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Most developed cities in the world have municipal guidelines that regulate architectural standards and public displays. It is in the public interest to set basic aesthetic standards, whether to curb gross commercialisation or simple bad taste. As a rapidly developing city, Abu Dhabi is no different than any other.

Sometimes, however, a sense of perspective takes precedence over immediate change.

As The National reported yesterday, small-business owners in Abu Dhabi are being hit by new standardisation requirements for shop signage. Many outlets, especially small corner shops and groceries, already work on very small profit margins, and the cost of compliance with the new regulations could lead to closures.

For all the problems associated with some small shops - some are admittedly unhygienic, others garish in their advertising - they are a vital part of commerce and society. Should large-scale closures occur, it would an unfortunate loss to the capital's varied neighbourhoods. Small, affordable shops and restaurants serve as cornerstones in communities and play an essential role in many residents' daily lives.

To be sure, an urban renewal programme is welcome at many levels. The small shops should be subject to a degree of regulation, as has been enacted with recent hygiene inspections. Ideally, small shop owners should be induced to spruce up their store facades as well - this does not mean one-size-fits-all, just a general raising of the bar.

The capital, however, must also start from the bottom up in urban renewal. In many of the neighbourhoods where these small shops are located (although, admittedly, they are scattered across the city), there are broken pavements and other eyesores that should be attended to first.

Often small shop owners might sweep the pavement in front of their establishments, but they cannot be responsible for the roads and sidewalks in disrepair.

As the neighbourhoods improve, so too will the small shops. Neighbourhoods benefit from improvements at all levels. And small businesses are the bedrock of many communities.

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COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

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Annual fees for the Technical University of Munich - £600

Shared rental accommodation per month depending on the location ranges between  £200-600

The family had budgeted for food, books, travel, living expenses - £20,000 annually

Overall costs in Germany are lower than the family estimated 

As proof that the student has the ability to take care of expenses, international students must open a blocked account with about £8,640

Students are permitted to withdraw £720 per month

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Director: Juan Carlos Medina
Cast: Olivia Cooke, Bill Nighy, Douglas Booth
Three stars

The specs

Engine: 3.8-litre twin-turbo flat-six

Power: 650hp at 6,750rpm

Torque: 800Nm from 2,500-4,000rpm

Transmission: 8-speed dual-clutch auto

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On sale: now

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First Test: at Lord's, England won by 211 runs

Second Test: at Trent Bridge, South Africa won by 340 runs

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The specs: 2017 Porsche 718 Cayman

Price, base / as tested Dh222,500 / Dh296,870

Engine 2.0L, flat four-cylinder

Transmission Seven-speed PDK

Power 300hp @ 6,500rpm

Torque 380hp @ 1,950rpm

Fuel economy, combined 6.9L / 100km

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A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.

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Company name: Farmin

Date started: March 2019

Founder: Dr Ali Al Hammadi 

Based: Abu Dhabi

Sector: AgriTech

Initial investment: None to date

Partners/Incubators: UAE Space Agency/Krypto Labs 

Tributes from the UAE's personal finance community

• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style

“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.

Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term. 

From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”

• Sam Instone, director of financial advisory firm AES International

"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed.  Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."

• Demos Kyprianou, a board member of SimplyFI.org

"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."

• Steve Cronin, founder of DeadSimpleSaving.com

"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.

His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.

Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."

• Zach Holz, who blogs about financial independence at The Happiest Teacher

"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen.  He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”

• Tuan Phan, a board member of SimplyFI.org

"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."

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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Brave CF 27 fight card

Welterweight:
Abdoul Abdouraguimov (champion, FRA) v Jarrah Al Selawe (JOR)

Lightweight:
Anas Siraj Mounir (TUN) v Alex Martinez (CAN)

Welterweight:
Mzwandile Hlongwa (RSA) v Khamzat Chimaev (SWE)

Middleweight:
Tarek Suleiman (SYR) v Rustam Chsiev (RUS)
Mohammad Fakhreddine (LEB) v Christofer Silva (BRA)

Super lightweight:
Alex Nacfur (BRA) v Dwight Brooks (USA)

Bantamweight:
Jalal Al Daaja (JOR) v Tariq Ismail (CAN)
Chris Corton (PHI) v Zia Mashwani (PAK)

Featherweight:
Sulaiman (KUW) v Abdullatip (RUS)

Super lightweight:
Flavio Serafin (BRA) v Mohammad Al Katib (JOR)