Business executives from India are voicing their concerns about visiting even the most high-end parts of London due to the fear of having their expensive watches and handbags stolen.
Devin Narang, the founder and partner at Sundev Renewables and an executive member of the Federation of Indian Chambers of Commerce and Industry, told The National a lot of senior executives of Indian companies had been "mugged right in the heart of [London's upmarket district of] Mayfair" creating a fear of the so-called Rolex Ripper crime wave.
"These are issues which need to be addressed," he said.
"People will travel – and people are travelling – but you need to look over your shoulder, you need to be careful what you're wearing."
Mr Narang raised the issue of crime in London during a meeting in Delhi with the UK's shadow foreign minister David Lammy.
Police recently released dramatic footage of undercover officers acting as bait to arrest gangs of thieves responsible for some of the millions of pounds' worth of luxury watch robberies in central London.
The officers posed as members of the public wearing luxury watches and were targeted by gang members, who engaged them in conversation and then attempted to rip the timepieces from their wrists, before police moved in swiftly to arrest the thieves.
CCTV footage of four robberies were released by the Met Police at a time when the theft of luxury watches has been grabbing the headlines in the UK, with research showing the total value of the stolen items passing £1 billion in a year for the first time.
Fear and statistics
According to figures from the Metropolitan Police (the Met), there were 72,756 incidents of what is called "theft from a person" – which refers to watch, mobile phone and handbag snatching – in London last year, a 27 per cent rise on 2022.
However, within the district of Westminster, which contains areas such as Mayfair, such offences rose by 40 per cent in 2023, compared to the previous year.
A representative for Sadiq Khan, mayor of London, said: "The Met have stepped up their response to robberies – which are rising nationally – and have specialist teams out proactively targeting the most prolific offenders and robbery hotspots."
"Latest figures show that on average you’re less likely to be a victim of violent crime in London than the rest of the country."
Meanwhile, research from the national tourism agency VisitBritain found in 2022, a total of 516,484 people visited the UK from India, and 86 per cent of departing Indians (excluding British expats) said they were "extremely likely" to recommend Britain for a visit, which beat the 82 per cent average across all markets.
But while London's authorities use statistics to paint a picture of the UK capital as one of the world's safest cities, the fear of crime seems to be having a bigger effect on would-be business visitors from India.
"One incident does spread like wildfire," Mr Narang told The National. "So women would make sure they are not wearing expensive jewellery and carrying expensive bags and people would not wear expensive rings or watches.
"People I know have had their handbags lifted and a friend, within a second, his watch disappeared."
'Not a priority'
Despite the publicised police stings, a perception lingers that in the event of a crime the police don't do enough, or "perhaps the police are focused on larger crimes", Mr Narang said.
One factor could be underfunding of the police from central government, which the mayor's office claims is to the tune of £240 million, a gap City Hall officials say is being filled using local council tax and business rates.
“The mayor is also investing record sums to reinvigorate frontline policing to prevent crime in our busy high streets, tourist locations and transport hubs," Mr Khan's representative said.
"Sadiq [Khan] will continue to do all he can to support the Met and hold them to account on tackling robberies and supporting victims to build a safer London for everyone.”
Mr Narang feels it is sad that offences and the fear of crime have escalated in London. He recently spent some time in New York and said did not have to look over his shoulder.
"We walked everywhere, I had no problems," he told The National.
Yet the next time he comes to London he will certainly "be very careful" if the crime issues have not been addressed.
Summer special
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Company profile
Name: Dukkantek
Started: January 2021
Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani
Based: UAE
Number of employees: 140
Sector: B2B Vertical SaaS(software as a service)
Investment: $5.2 million
Funding stage: Seed round
Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office
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Full time contracts
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Part time contracts
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The bio:
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Heidi: The Long Kiss Goodnight.
Favourite holiday destination:
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Heidi: Australia but my dream destination would be to go to Cuba.
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Declan: I love brunching and socializing. Just basically having the craic.
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Heidi: Live, love, laugh and have no regrets.
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Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
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How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
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Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)
Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)
How will Gen Alpha invest?
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
Profile of Tamatem
Date started: March 2013
Founder: Hussam Hammo
Based: Amman, Jordan
Employees: 55
Funding: $6m
Funders: Wamda Capital, Modern Electronics (part of Al Falaisah Group) and North Base Media
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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
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
Afcon 2019
SEMI-FINALS
Senegal v Tunisia, 8pm
Algeria v Nigeria, 11pm
Matches are live on BeIN Sports
First Person
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BUNDESLIGA FIXTURES
Friday (all kick-offs UAE time)
Hertha Berlin v Union Berlin (10.30pm)
Saturday
Freiburg v Werder Bremen (5.30pm)
Paderborn v Hoffenheim (5.30pm)
Wolfsburg v Borussia Dortmund (5.30pm)
Borussia Monchengladbach v Bayer Leverkusen (5.30pm)
Bayern Munich v Eintracht Frankfurt (5.30pm)
Sunday
Schalke v Augsburg (3.30pm)
Mainz v RB Leipzig (5.30pm)
Cologne v Fortuna Dusseldorf (8pm)
The Gentlemen
Director: Guy Ritchie
Stars: Colin Farrell, Hugh Grant
Three out of five stars
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
UAE currency: the story behind the money in your pockets
Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.