Passengers from Afghanistan arrive in Belgium. Airbnb said it will host 20,000 Afghan refugees free of charge. EPA
Passengers from Afghanistan arrive in Belgium. Airbnb said it will host 20,000 Afghan refugees free of charge. EPA
Passengers from Afghanistan arrive in Belgium. Airbnb said it will host 20,000 Afghan refugees free of charge. EPA
Passengers from Afghanistan arrive in Belgium. Airbnb said it will host 20,000 Afghan refugees free of charge. EPA

Airbnb offers free accommodation for 20,000 Afghan refugees


Sarmad Khan
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Follow the latest updates on Afghanistan here

Airbnb is hosting 20,000 Afghan refugees free of charge as it helps people fleeing Afghanistan after the Taliban seized power in the country last week.

The hosting of refugees around the world started on Tuesday, Brian Chesky, co-founder and chief executive of the home-rental company, said on Twitter.

The company's non-profit arm, Airbnb.org, which helps displaced people with accommodation in times of crisis, is working closely with non-governmental organisations, partners and entities on the ground in Afghanistan to support the refugees.

“The displacement and resettlement of Afghan refugees in the US and elsewhere is one of the biggest humanitarian crises of our time,” Mr Chesky said in a series of tweets. “We feel a responsibility to step up.”

He said there was no time to waste and expressed hope that the San Francisco-based company's move “inspires other business leaders to do the same”.

Tens of thousands of Afghans and foreign nationals have fled the country after the Taliban seized power two decades after they were toppled by the US and Nato.

The takeover by the militants raises the risk of economic collapse as the country continues to battle the Covid-19 pandemic, drought and a weakening currency.

The swift fall of the Afghan government was followed by scenes of chaos at Kabul’s international airport as hundreds of people, desperate to flee the new regime, tried to board flights out of the country.

The US and the UK are in the process of repatriating stranded citizens and refugees before an August 31 deadline for the withdrawal of foreign troops from the country.

The US is trying to extend the deadline but the Taliban have refused to budge, calling it a “red line”.

The UAE has helped more than 20,000 people who fled Afghanistan after the Taliban regained control of the country, according to Afra Al Hameli, Deputy Director of Strategic Communications at the UAE's Ministry of Foreign Affairs and International Co-operation.

Airbnb, one of the biggest travel companies in the world that operates an online marketplace for travel information and booking services, said it will be “paying for these stays”.

Mr Chesky said the company could not do it “without the generosity” of hosts who will accommodate displaced Afghans.

“If you are willing to host a refugee family, reach out and I will connect you with the right people here to make it happen!”



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

UAE currency: the story behind the money in your pockets
THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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UAE currency: the story behind the money in your pockets
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Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

Martin Sabbagh profile

Job: CEO JCDecaux Middle East

In the role: Since January 2015

Lives: In the UAE

Background: M&A, investment banking

Studied: Corporate finance

The specs

Engine: 1.5-litre 4-cylinder petrol

Power: 154bhp

Torque: 250Nm

Transmission: 7-speed automatic with 8-speed sports option 

Price: From Dh79,600

On sale: Now

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

The biog

First Job: Abu Dhabi Department of Petroleum in 1974  
Current role: Chairperson of Al Maskari Holding since 2008
Career high: Regularly cited on Forbes list of 100 most powerful Arab Businesswomen
Achievement: Helped establish Al Maskari Medical Centre in 1969 in Abu Dhabi’s Western Region
Future plan: Will now concentrate on her charitable work

ACC%20T20%20Women%E2%80%99s%20Championship
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UAE currency: the story behind the money in your pockets
Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

Our family matters legal consultant

Name: Hassan Mohsen Elhais

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

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Updated: August 24, 2021, 12:32 PM