Muslim-friendly tourism portal set for launch



The Singapore-based halal tourism online platform CrescentRating will launch a portal marketing Muslim-friendly tour packages at the Arabian Travel Market next week.

Islamic tourism can involve hotels, tour companies, airlines, shopping malls and airport caterers besides destinations.

The UAE ranks first in the Halal Tourism Indicator followed by Malaysia and Singapore, according to the State of the Global Islamic Economy Report released in November. It measures the family-friendliness of a country’s tourism ecosystem.

In 2013, the UAE ranked third in terms of source country of Muslim tourists based on expenditure after Saudi Arabia and Iran.

UAE tourists spent US$11.2 billion.

The overseas spending of Muslim travellers rose by 7.7 per cent in 2013 over the previous year to touch $140bn, the report said. It does not include spending during Haj and Umrah seasons. The figure is expected to reach $238bn by 2019.

The Muslim travel market share comprises 11.6 per cent of the total global travel expenditure.

The figure is expected to reach $238bn by 2019.

Called Muslim Travel Warehouse, the tourism platform will provide travel agencies with booking capabilities on tour packages, excursions and activities.

The packages are initially available in 16 destinations in Europe, Asia and the US.

“All products provided on the platform will be rated based on the level of Muslim-friendly services,” said Fazal Bahardeen, the chief executive of Muslim Travel Warehouse.

In January he launched the HalalTrip app, which rates and shares information on restaurants and shops selling halal food. It launched with about 50 restaurants in Japan, Vietnam, Taiwan, Austria and Peru.

In October, the Abu Dhabi Tourism and Culture Authority will host the World Islamic Travel Summit to showcase halal travel.

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Three trading apps to try

Sharad Nair recommends three investment apps for UAE residents:

  • For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
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Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram

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Favourite pet: cats. She has two: Eva and Bito

Favourite city: Cape Town, South Africa

Hobby: Running. "I like to think I’m artsy but I’m not".

Favourite move: Romantic comedies, specifically Return to me. "I cry every time".

Favourite spot in Abu Dhabi: Saadiyat beach

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Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.

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Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.

Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.

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UAE currency: the story behind the money in your pockets
Sinopharm vaccine explained

The Sinopharm vaccine was created using techniques that have been around for decades. 

“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.

"What is left is a skeleton of the virus so it looks like a virus, but it is not live."

This is then injected into the body.

"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.

"You have to be exposed more than one time to what we call the antigen."

The vaccine should offer protection for at least months, but no one knows how long beyond that.

Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.

“Since it is inactivated, it will not last forever," she said.

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Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
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Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners

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Directors: Avinash Arun, Prosit Roy 

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