In the advent of the digital age, also known as the "Fourth Industrial Revolution", the disruption of traditional ways of doing business is a given.
When it comes to debating the positive and negative elements of the continuously changing landscape we live in today there are certainties as well as grey areas.
Uber, the ride hailing behemoth valued at about US$70 billion, has revolutionised the mode of transportation around the world. From the seamless booking process on one’s smartphone, lowering the cost of getting from one destination to another, to providing drivers with a source of income (although its treatment of drivers and resistance to view them as employees has been controversial) the company has been a pioneer in its industry.
Uber’s success has led others to the launch of similar platforms in Spain, the US, China and the Arab world. But success aside, Uber has been marred by scandals and litigation related to sexism and racism in the work place - which led to the eventual downfall of its chief executive Travis Kalanick and the appointment of Dara Khosrowshahi as his replacement last month.
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Read more:
'Uber set to bite bullet over London transport demands'
Blame the company, not me, says London's mayor after Uber ban
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Mr Khosrowshahi now faces his first crisis as Uber’s transport licence has been revoked by Transport for London (TfL), the regulatory body which runs public travel in the UK capital.
TfL said that “Uber London Limited is not fit and proper to hold a private hire operator licence”, and that the company’s “approach and conduct demonstrate a lack of corporate responsibility in relation to a number of issues which have potential public safety and security implications”.
While a petition organised by the company against London’s decision not to renew its operating licence gathered 600,000 signatures in just over 24 hours it does not belittle the responsibilities of the company when it comes to adhering to the laws of the countries it operates in, an issue it has repeatedly been accused of flouting or tiptoeing around not just in the UK but in other countries in Europe, Asia and the Middle East.
The TfL is right to crack down on companies that violate or don’t adhere to transport regulations that safeguard the well-being of travellers. After all that’s the responsibility of all regulators no matter the industry.
Uber’s unequivocal rebuke, as opposed to a slap on the wrist, risks sending the wrong message to start-ups and technology companies who may very well take up French president Emmanuel Macron on their offer.
For the UK, the crackdown couldn’t come at a more sensitive time. With Brexit negotiations far from clear, and the country trying to persuade companies from leaving or downsizing their operations there is a delicate balance that policy makers need to strike.
A German university was a good fit for the family budget
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
COMPANY PROFILE
Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others
Company Profile
Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8
Company profile
Name: Maly Tech
Started: 2023
Founder: Mo Ibrahim
Based: Dubai International Financial Centre
Sector: FinTech
Funds raised: $1.6 million
Current number of staff: 15
Investment stage: Pre-seed, planning first seed round
Investors: GCC-based angel investors
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions.
Profile box
Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
COMPANY PROFILE
Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends
World ranking (at month’s end)
Jan - 257
Feb - 198
Mar - 159
Apr - 161
May - 159
Jun – 162
Currently: 88
Year-end rank since turning pro
2016 - 279
2015 - 185
2014 - 143
2013 - 63
2012 - 384
2011 - 883
Checks continue
A High Court judge issued an interim order on Friday suspending a decision by Agriculture Minister Edwin Poots to direct a stop to Brexit agri-food checks at Northern Ireland ports.
Mr Justice Colton said he was making the temporary direction until a judicial review of the minister's unilateral action this week to order a halt to port checks that are required under the Northern Ireland Protocol.
Civil servants have yet to implement the instruction, pending legal clarity on their obligations, and checks are continuing.
More from Neighbourhood Watch:
'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
Seven tips from Emirates NBD
1. Never respond to e-mails, calls or messages asking for account, card or internet banking details
2. Never store a card PIN (personal identification number) in your mobile or in your wallet
3. Ensure online shopping websites are secure and verified before providing card details
4. Change passwords periodically as a precautionary measure
5. Never share authentication data such as passwords, card PINs and OTPs (one-time passwords) with third parties
6. Track bank notifications regarding transaction discrepancies
7. Report lost or stolen debit and credit cards immediately