The principle of “one size fits all” does not apply in the world of personal finance as people's circumstances, earning potential and risk appetite are unique, according to financial experts.
Although a person’s salary is a significant factor that influences their investment choices, it is not the sole determinant. Other factors include personal financial goals, risk tolerance and time horizon, experts add.
“The income bracket doesn’t influence what you can invest in, your savings rate does,” says Carol Glynn, founder of Conscious Finance Coaching.
Steve Cronin, founder of DeadSimpleSaving.com, agrees and says salary levels are almost irrelevant compared to what you can save and invest each month.
Someone earning Dh10,000 ($2,722) and spending Dh5,000 has more to invest than another person earning Dh40,000 and spending Dh38,000, he says.
However, 67 per cent of both millennials and Generation Z said their salary is the most important factor in building wealth, according to a survey of more than 1,000 Americans last month by financial services company Empower.
Younger generations chose salary above other wealth-building factors, such as being debt-free, job stability and living below their means, the survey found.
But just how much of your income should go towards investing?
Most personal finance experts recommend the 50:30:20 approach for cash flow planning, which suggests that an individual sets aside 20 per cent of their income for savings or other financial goals.
“My recommendation is that the individual first starts working on an emergency fund, which can be anything from three to six months of their monthly living expenses,” says Ms Glynn.
“Ideally, this money is parked in an interest-bearing, but liquid bank account. There are some great options on the market at the moment, with some offering up to 6 per cent interest per annum.”
For those looking to park money that is earmarked for the short to medium term – between two and five years – Ms Glynn recommends a “safe investment” such as a high-interest savings account, low-cost bank or government bonds, or term deposit.
If you don’t need your savings for more than five years, she suggests exchange-traded funds. But it needs to be a long-term plan and all dividends must be reinvested during this time to allow for the power of compounding to work its magic, she says.
“While salary is a significant determinant, it’s essential to align investments with personal goals, risk tolerance, and market conditions,” says Joseph El Am, general manager of digital wealth manager StashAway Mena.
People looking to secure their financial future through investing must start early to benefit from the power of compound interest.
They should also opt for a systematic investment plan to reduce the impact of market volatility, diversify across various assets to manage risk and set clear goals to help decide on an appropriate risk-return strategy, according to Vijay Valecha, chief investment officer at Century Financial.
However, before investing, individuals must address their debt and build an emergency fund to avoid selling their investments during market downturns, he advises.
“Young, single individuals with high disposable income can opt for aggressive investments such as equities, real estate and commodities that have high growth potential [but also higher risk],” Mr Valecha says.
“However, family-orientated earners in their late 30s or early 40s may choose a more moderate strategy. As the disposable income bracket increases, the portfolio can shift towards a more aggressive approach, provided the funds are not required in the near term. Likewise, as one nears retirement, a gradual shift to a conservative approach is advisable.”
Here, financial experts identify investment assets for people in different salary brackets.
Salary bracket: Dh5,000 to Dh10,000 per month
For those in this income bracket with a limited disposable income and lower risk tolerance, opting for safer investment options is prudent to ensure steady savings growth, Mr Valecha suggests.
“A savings account is an essential foundation for anyone starting their financial journey. While the principal amount is secure, it doesn’t earn much interest,” Mr El Am from StashAway says.
“As a rule of thumb, keep about one to two months of expenses in your bank account. Holding too much cash in your bank means that your savings are decreasing in value due to inflation.”
Open a basic savings account with local banks such as Emirates NBD, Abu Dhabi Commercial Bank, or Dubai Islamic Bank. These accounts offer modest interest rates and easy access to funds, Mr Valecha says.
Consider investing in UAE National Bonds, which are low-risk government bonds offering competitive returns. They’re accessible to UAE residents and the minimum investment is typically affordable, he adds.
He also cites National Bonds’ Second Salary savings plan, which allows individuals to make a minimum monthly investment of Dh1,000 per month for at least three years, and receive a monthly return of approximately Dh1,125 for three years.
“It fosters a savings habit and offers a 4 per cent return, a better alternative to low-yield savings accounts,” he says.
UAE investors can also explore US Treasury bills yielding 5.4 per cent with a minimum investment of $1,000, Mr Valecha notes. They can buy these bills from any companies registered with the Securities and Commodities Authority.
“These bonds are AAA-rated for safety and serve as a secure option for short-term cash parking or earning returns on savings.”
Salary bracket: Dh10,0000 to Dh20,000 per month
Fixed deposits are a preferred choice for many as these offer better interest rates than savings accounts, ensuring the money grows, albeit slowly, Mr El Am points out.
Explore longer-term fixed deposits with higher interest rates. Some banks may offer promotional rates for larger deposits or longer tenures, according to Mr Valecha.
“Think about investing in sukuk or Islamic bonds that provide regular income and adhere to Sharia principles. Various UAE banks offer sukuk investments,” he adds.
Both corporate and government bonds offer steady returns with varying degrees of safety. Bonds can also offset some of the volatility of stocks in a balanced portfolio, Mr El Am says.
Meanwhile, he also recommends investing in mutual funds for a diversified portfolio. Depending on one’s risk appetite, one can choose from equity, debt or hybrid funds.
“Consider investing in balanced mutual funds with a mix of equities and fixed income. Look for options from reputable asset management companies like Franklin Templeton, Invest AD, or Emirates NBD Asset Management,” Mr Valecha says.
Mr El Am also highlights money market funds, which invest in short-term debt securities.
They’re a suitable option for those seeking a higher return than savings accounts but with ultra-low risk, he says.
Fixed deposits are a preferred choice for many as these offer better interest rates than savings accounts, ensuring the money grows, albeit slowly
Joseph El Am,
general manager, StashAway Mena
Individuals in this salary bracket can also consider allocating a small portion to US-based equity indices and ETFs like the SPX 500 and SPDR S&P 50 ETF, known as SPY, for diversification, according to Mr Valecha.
The SPX 500 tracks the top 500 US companies, while SPY allows investments in smaller denominations, he says.
“ETFs track indexes, commodities, or bonds and are traded like a stock on an exchange. They offer diversification, much like mutual funds, but with the added advantage of daily liquidity and often lower fees,” Mr El Am says.
Diversified stock market investing is the fastest way to grow your money over the long term, Mr Cronin says.
He recommends a globally diversified stock ETF and a global government bond to stabilise the portfolio against market shocks, such as a crash.
“Sensible stock market investing is for any salary level these days, as long as you can keep transfer costs and platform costs down,” he adds.
Real estate investment trusts, which allow you to purchase property without the hassles of ownership, could be another option, says Mr El Am.
These assets help you earn from the property boom without getting bogged down by tedious administrative tasks, property maintenance, and more, he adds.
“UAE-listed Reits, such as Emirates Reit and ENBD Reit, allow you to indirectly participate in real estate and earn rental income,” Mr Valecha says.
UAE Salary Guide 2023 – in pictures
Salary bracket: Dh20,000 to Dh30,000 per month
Executives, senior managers and business owners often fall into this category, Mr El Am says.
While a well-balanced portfolio of equities and bonds remains key, you now also have the resources to explore more diverse investments, he adds.
He highlights property for its capital appreciation potential and ability to serve as a source of passive income through rent.
“Those planning to settle in the UAE can consider investing in real estate for steady rental yields. However, given the potential global economic challenges and rising interest rates, the sector may not be able to replicate the stellar performance seen in the last two years,” Mr Valecha says.
“Investors in this bracket, with higher disposable income and risk appetite, can allocate a significant portion to both local and international equity markets. They can consider local indices like DFM and ADX, as well as US indices like SPX 500 and Nasdaq 100. Direct stock investments in prominent large-cap US companies are also an option.”
The allure of buying individual stocks and watching them grow cannot be understated, says Mr El Am.
However, it’s a volatile market and one needs to invest substantial time and resources to evaluate each stock. Even the best fund managers can get it wrong from time to time, he warns.
Mr El Am also cites alternative investments, such as cryptocurrencies and collectibles like art and vintage cars, to act as a hedge against traditional investments.
Those planning to settle in the UAE can consider investing in real estate for steady rental yields
Vijay Valecha,
chief investment officer, Century Financial
Professionals in this salary range can also consider investing in regional and global equity mutual funds that match their risk tolerance and financial goals, Mr Valecha suggests.
He also recommends diversifying a portfolio with corporate bonds or fixed-income instruments for a stable income with relatively lower risk compared with equities.
Salary bracket: Dh30,000 to Dh40,000 per month
Investors in this bracket can consider direct investments in stocks on UAE exchanges and international bourses like the Nasdaq and New York Stock Exchange, Mr Valecha suggests.
“High-growth stocks with substantial future potential can be explored. Research is crucial before stock selection, in addition to regular SIPs in benchmark indices,” he explains.
He also recommends exploring foreign investment opportunities like offshore mutual funds, bonds, or real estate investments for diversification.
“Contribute to a company-sponsored employee provident fund or a similar retirement savings plan. Maximise contributions to leverage employer matching if available,” he adds.
Salary bracket and assets to invest in
Dh5,000 to Dh10,000 (per month)
- Emergency fund
- Savings account
- National Bonds
- National Bonds Second Salary savings plan
- US Treasury Bills
Dh10,0000 to Dh20,000
- Fixed deposits
- Sukuks
- Government or corporate bonds
- Mutual funds
- Money market funds
- Exchange-traded funds
- Real estate investment trusts
Dh20,000 to Dh30,000
- Real estate
- Equity markets
- Equity mutual funds
- Fixed-income instruments
- Alternatives like cryptocurrencies, art and vintage cars
Dh30,000 to Dh40,000
- Direct investments in stocks
- Offshore investments
- Retirement savings
Source: StashAway Mena and Century Financial
Sholto Byrnes on Myanmar politics
UAE currency: the story behind the money in your pockets
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
Springsteen: Deliver Me from Nowhere
Director: Scott Cooper
Starring: Jeremy Allen White, Odessa Young, Jeremy Strong
Rating: 4/5
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT)
Tuesday
Mairobr v Liverpool
Spartak Moscow v Sevilla
Feyenoord v Shakhtar Donetsk
Manchester City v Napoli
Monaco v Besiktas
RB Leipzig v Porto
Apoel Nicosia v Borussia Dortmund
Real Madrid v Tottenham Hotspur
Wednesday
Benfica v Manchester United
CSKA Moscow v Basel
Bayern Munich v Celtic
Anderlecht v Paris Saint-Germain
Qarabag v Atletico Madrid
Chelsea v Roma
Barcelona v Olympiakos
Juventus v Sporting Lisbon
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
At Eternity’s Gate
Director: Julian Schnabel
Starring: Willem Dafoe, Oscar Isaacs, Mads Mikkelsen
Three stars
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
About RuPay
A homegrown card payment scheme launched by the National Payments Corporation of India and backed by the Reserve Bank of India, the country’s central bank
RuPay process payments between banks and merchants for purchases made with credit or debit cards
It has grown rapidly in India and competes with global payment network firms like MasterCard and Visa.
In India, it can be used at ATMs, for online payments and variations of the card can be used to pay for bus, metro charges, road toll payments
The name blends two words rupee and payment
Some advantages of the network include lower processing fees and transaction costs
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
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Killing of Qassem Suleimani
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Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
THE LOWDOWN
Photograph
Rating: 4/5
Produced by: Poetic License Motion Pictures; RSVP Movies
Director: Ritesh Batra
Cast: Nawazuddin Siddiqui, Sanya Malhotra, Farrukh Jaffar, Deepak Chauhan, Vijay Raaz
COMPANY%20PROFILE
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THE SPECS
Engine: Four-cylinder 2.5-litre
Transmission: Seven-speed auto
Power: 165hp
Torque: 241Nm
Price: Dh99,900 to Dh134,000
On sale: now
Day 4, Dubai Test: At a glance
Moment of the day Lahiru Gamage appeared to have been hard done by when he had his dismissal of Sami Aslam chalked off for a no-ball. Replays suggested he had not overstepped. No matter. Two balls later, the exact same combination – Gamage the bowler and Kusal Mendis at second slip – combined again to send Aslam back.
Stat of the day Haris Sohail took three wickets for one run in the only over he bowled, to end the Sri Lanka second innings in a hurry. That was as many as he had managed in total in his 10-year, 58-match first-class career to date. It was also the first time a bowler had taken three wickets having bowled just one over in an innings in Tests.
The verdict Just 119 more and with five wickets remaining seems like a perfectly attainable target for Pakistan. Factor in the fact the pitch is worn, is turning prodigiously, and that Sri Lanka’s seam bowlers have also been finding the strip to their liking, it is apparent the task is still a tough one. Still, though, thanks to Asad Shafiq and Sarfraz Ahmed, it is possible.
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Baftas 2020 winners
BEST FILM
- 1917 - Pippa Harris, Callum McDougall, Sam Mendes, Jayne-Ann Tenggren
- THE IRISHMAN - Robert De Niro, Jane Rosenthal, Martin Scorsese, Emma Tillinger Koskoff
- JOKER - Bradley Cooper, Todd Phillips, Emma Tillinger Koskoff
- ONCE UPON A TIME… IN HOLLYWOOD - David Heyman, Shannon McIntosh, Quentin Tarantino
- PARASITE - Bong Joon-ho, Kwak Sin-ae
DIRECTOR
- 1917 - Sam Mendes
- THE IRISHMAN - Martin Scorsese
- JOKER - Todd Phillips
- ONCE UPON A TIME… IN HOLLYWOOD - Quentin Tarantino
- PARASITE - Bong Joon-ho
OUTSTANDING BRITISH FILM
- 1917 - Sam Mendes, Pippa Harris, Callum McDougall, Jayne-Ann Tenggren, Krysty Wilson-Cairns
- BAIT - Mark Jenkin, Kate Byers, Linn Waite
- FOR SAMA - Waad al-Kateab, Edward Watts
- ROCKETMAN - Dexter Fletcher, Adam Bohling, David Furnish, David Reid, Matthew Vaughn, Lee Hall
- SORRY WE MISSED YOU - Ken Loach, Rebecca O’Brien, Paul Laverty
- THE TWO POPES - Fernando Meirelles, Jonathan Eirich, Dan Lin, Tracey Seaward, Anthony McCarten
FILM NOT IN THE ENGLISH LANGUAGE
- THE FAREWELL - Lulu Wang, Daniele Melia
- FOR SAMA - Waad al-Kateab, Edward Watts
- PAIN AND GLORY - Pedro Almodóvar, Agustín Almodóvar
- PARASITE - Bong Joon-ho
- PORTRAIT OF A LADY ON FIRE - Céline Sciamma, Bénédicte Couvreur
LEADING ACTRESS
- JESSIE BUCKLEY - Wild Rose
- SCARLETT JOHANSSON - Marriage Story
- SAOIRSE RONAN - Little Women
- CHARLIZE THERON - Bombshell
- RENÉE ZELLWEGER - Judy
LEADING ACTOR
- LEONARDO DICAPRIO - Once Upon a Time… In Hollywood
- ADAM DRIVER - Marriage Story
- TARON EGERTON - Rocketman
- JOAQUIN PHOENIX - Joker
- JONATHAN PRYCE - The Two Popes
SUPPORTING ACTOR
- TOM HANKS - A Beautiful Day in the Neighborhood
- ANTHONY HOPKINS - The Two Popes
- AL PACINO - The Irishman
- JOE PESCI - The Irishman
- BRAD PITT - Once Upon a Time… in Hollywood
SUPPORTING ACTRESS
- LAURA DERN - Marriage Story
- SCARLETT JOHANSSON - Jojo Rabbit
- FLORENCE PUGH - Little Women
- MARGOT ROBBIE - Bombshell
- MARGOT ROBBIE - Once Upon a Time… in Hollywood
ADAPTED SCREENPLAY
- THE IRISHMAN - Steven Zaillian
- JOJO RABBIT - Taika Waititi
- JOKER - Todd Phillips, Scott Silver
- LITTLE WOMEN - Greta Gerwig
- THE TWO POPES - Anthony McCarten
ORIGINAL SCREENPLAY
- BOOKSMART - Susanna Fogel, Emily Halpern, Sarah Haskins, Katie Silberman
- KNIVES OUT - Rian Johnson
- MARRIAGE STORY - Noah Baumbach
- ONCE UPON A TIME… IN HOLLYWOOD - Quentin Tarantino
- PARASITE - Han Jin Won, Bong Joon ho
DOCUMENTARY
- AMERICAN FACTORY - Steven Bognar, Julia Reichert
- APOLLO 11 - Todd Douglas Miller
- DIEGO MARADONA - Asif Kapadia
- FOR SAMA - Waad al-Kateab, Edward Watts
- THE GREAT HACK - Karim Amer, Jehane Noujaime
OUTSTANDING DEBUT BY A BRITISH WRITER, DIRECTOR OR PRODUCER
- BAIT - Mark Jenkin (Writer/Director), Kate Byers, Linn Waite (Producers)
- FOR SAMA - Waad al-Kateab (Director/Producer), Edward Watts (Director)
- MAIDEN - Alex Holmes (Director)
- ONLY YOU - Harry Wootliff (Writer/Director)
- RETABLO - Álvaro Delgado-Aparicio (Writer/Director)
ANIMATED FILM
- FROZEN 2 - Chris Buck, Jennifer Lee, Peter Del Vecho
- KLAUS - Sergio Pablos, Jinko Gotoh
- A SHAUN THE SHEEP MOVIE: FARMAGEDDON - Will Becher, Richard Phelan, Paul Kewley
- TOY STORY 4 - Josh Cooley, Mark Nielsen
CASTING
- JOKER - Shayna Markowitz
- MARRIAGE STORY - Douglas Aibel, Francine Maisler
- ONCE UPON A TIME… IN HOLLYWOOD - Victoria Thomas
- THE PERSONAL HISTORY OF DAVID COPPERFIELD - Sarah Crowe
- THE TWO POPES - Nina Gold
EE RISING STAR AWARD (voted for by the public)
- AWKWAFINA
- JACK LOWDEN
- KAITLYN DEVER
- KELVIN HARRISON JR.
- MICHEAL WARD
CINEMATOGRAPHY
- 1917 - Roger Deakins
- THE IRISHMAN - Rodrigo Prieto
- JOKER - Lawrence Sher
- LE MANS ’66 - Phedon Papamichael
- THE LIGHTHOUSE - Jarin Blaschke
EDITING
- THE IRISHMAN - Thelma Schoonmaker
- JOJO RABBIT - Tom Eagles
- JOKER - Jeff Groth
- LE MANS ’66 - Andrew Buckland, Michael McCusker
- ONCE UPON A TIME… IN HOLLYWOOD - Fred Raskin
COSTUME DESIGN
- THE IRISHMAN - Christopher Peterson, Sandy Powell
- JOJO RABBIT - Mayes C. Rubeo
- JUDY - Jany Temime
- LITTLE WOMEN - Jacqueline Durran
- ONCE UPON A TIME… IN HOLLYWOOD - Arianne Phillips
PRODUCTION DESIGN
- 1917 - Dennis Gassner, Lee Sandales
- THE IRISHMAN - Bob Shaw, Regina Graves
- JOJO RABBIT - Ra Vincent, Nora Sopková
- JOKER - Mark Friedberg, Kris Moran
- ONCE UPON A TIME… IN HOLLYWOOD - Barbara Ling, Nancy Haigh
SOUND
- 1917 - Scott Millan, Oliver Tarney, Rachael Tate, Mark Taylor, Stuart Wilson
- JOKER - Tod Maitland, Alan Robert Murray, Tom Ozanich, Dean Zupancic
- LE MANS ’66 - David Giammarco, Paul Massey, Steven A. Morrow, Donald Sylvester
- ROCKETMAN - Matthew Collinge, John Hayes, Mike Prestwood Smith, Danny Sheehan
- STAR WARS: THE RISE OF SKYWALKER - David Acord, Andy Nelson, Christopher Scarabosio, Stuart Wilson, Matthew Wood
ORIGINAL SCORE
- 1917 - Thomas Newman
- JOJO RABBIT - Michael Giacchino
- JOKER - Hildur Guđnadóttir
- LITTLE WOMEN - Alexandre Desplat
- STAR WARS: THE RISE OF SKYWALKER - John Williams
SPECIAL VISUAL EFFECTS
- 1917 - Greg Butler, Guillaume Rocheron, Dominic Tuohy
- AVENGERS: ENDGAME - Dan Deleeuw, Dan Sudick
- THE IRISHMAN - Leandro Estebecorena, Stephane Grabli, Pablo Helman
- THE LION KING - Andrew R. Jones, Robert Legato, Elliot Newman, Adam Valdez
- STAR WARS: THE RISE OF SKYWALKER - Roger Guyett, Paul Kavanagh, Neal Scanlan, Dominic Tuohy
MAKE UP & HAIR
- 1917 - Naomi Donne
- BOMBSHELL - Vivian Baker, Kazu Hiro, Anne Morgan
- JOKER - Kay Georgiou, Nicki Ledermann
- JUDY - Jeremy Woodhead
- ROCKETMAN - Lizzie Yianni Georgiou
BRITISH SHORT FILM
- AZAAR - Myriam Raja, Nathanael Baring
- GOLDFISH - Hector Dockrill, Harri Kamalanathan, Benedict Turnbull, Laura Dockrill
- KAMALI - Sasha Rainbow, Rosalind Croad
- LEARNING TO SKATEBOARD IN A WARZONE (IF YOU’RE A GIRL) - Carol Dysinger, Elena Andreicheva
- THE TRAP - Lena Headey, Anthony Fitzgerald
BRITISH SHORT ANIMATION
- GRANDAD WAS A ROMANTIC - Maryam Mohajer
- IN HER BOOTS - Kathrin Steinbacher
- THE MAGIC BOAT - Naaman Azh
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Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
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Results
5pm: Wathba Stallions Cup Maiden (PA) Dh 70,000 (Dirt) 1,000m, Winner: Hazeem Al Raed, Antonio Fresu (jockey), Ahmed Al Shemaili (trainer)
5.30pm: Handicap (PA) Dh 85,000 (D) 1,000m, Winner: Ghazwan Al Khalediah, Hugo Lebouc, Helal Al Alawi
6pm: Maiden (PA) Dh 70,000 (D) 1,400m, Winner: Dinar Al Khalediah, Patrick Cosgrave, Helal Al Alawi.
6.30pm: Handicap (TB) Dh 70,000 (D) 1,600m, Winner: Faith And Fortune, Sandro Paiva, Ali Rashid Al Raihe.
7pm: Maiden (PA) Dh 70,000 (D) 1,600m, Winner: Only Smoke, Bernardo Pinheiro, Abdallah Al Hammadi.
7.30pm: Handicap (PA) Dh 70,000 (D) 1,600m, Winner: AF Ramz, Saif Al Balushi, Khalifa Al Neyadi.
8pm: Maiden (PA) Dh 70,000 (D) 2,000m, Winner: AF Mass, Tadhg O’Shea, Ernst Oertel.
