When a citywide bus service was launched in Abu Dhabi in 2008, it brought relief to a large number of people who could not afford the cost of running a car. During the first six months of operation, when no charge was made for the service, an estimated 50,000 people used the 120 buses that operated on nine routes around the city. Those numbers climbed dramatically even after a fare of Dh1 was introduced but, as The National reported yesterday, since fares were doubled to Dh2 two years ago, they have fallen by 14 million passenger journeys.
The dip in usage – despite the addition of 15 routes to the network and an increase in the number of buses available at peak times – is a strong indicator of how price sensitive much of the city’s population is, particularly those who are struggling to make ends meet amid increasing rents, food and commodity prices.
As rents have risen, so too has the incidence of people illegally sharing accommodation, because when static incomes are combined with the desire to remit as much money as possible to families “back home”, many legal renting options become unaffordable. Last month this newspaper reported on a Pakistani expatriate, Kabir, who decided to send his family back home after municipality warnings compelled him to move out of shared accommodation in Abu Dhabi. Even officials cracking down on villa-sharing in Dubai could see where the issue lay. “If rents go up, surely they will come back again to share,” Jabir Ahmed Al Ali, head of the inspection unit at the emirate’s buildings department told this newspaper earlier.
Low- to medium-income people are an integral part of the country’s economy, serving some of the vital sectors such as construction, health care and hospitality. Keeping the interests of this community in mind, wherever possible, will benefit everyone. Declining passenger numbers, on the other hand, send the starkest possible warning that these people are being squeezed – and that’s good for no one.
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Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
England World Cup squad
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Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
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Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
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Fireball
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Ukraine confirmed the strike, saying the village some 40 kilometres south-west of Kyiv was targeted.
Company profile
Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices
COMPANY PROFILE
Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
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The years Ramadan fell in May
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Messi (27’, 32’, 87’)
Leganes 1
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Transmission Seven-speed automatic
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Company Profile
Company name: OneOrder
Started: October 2021
Founders: Tamer Amer and Karim Maurice
Based: Cairo, Egypt
Industry: technology, logistics
Investors: A15 and self-funded