Sheikh Zayed in Paris, on March 7, 1975. The UAE has longstanding relations with several EU member states. Getty
Sheikh Zayed in Paris, on March 7, 1975. The UAE has longstanding relations with several EU member states. Getty
Sheikh Zayed in Paris, on March 7, 1975. The UAE has longstanding relations with several EU member states. Getty
Sheikh Zayed in Paris, on March 7, 1975. The UAE has longstanding relations with several EU member states. Getty


The robust EU-UAE ties are rooted in history and share a vision for the future


Lucie Berger
Lucie Berger
  • English
  • Arabic

October 16, 2024

This year marks the 10th anniversary of diplomatic presence of the EU in the UAE. While our formal EU-UAE relationship is relatively recent, our shared history goes back much further, through the longstanding relations between the UAE and the EU member states. In the past decade, we have built on that foundation, fostering a deeper mutual understanding of our cultures, policies and the ways our strengths complement one another.

Today, bilateral relations are thriving. Economically, the UAE has grown to become the EU’s primary export destination and investment partner in the Mena region, as well as one of the EU’s top trading partners overall. This robust relationship is further reinforced by the strong presence of EU companies in the UAE across key sectors such as finance, energy, real estate, services and more. Moreover, about 200,000 Europeans who call the UAE home contribute daily to the nation’s economy, diversity and prosperity.

DP World's fully automated Terminal 2 at Jebel Ali Port in Dubai. The UAE is one of the EU’s top trading partners. Reuters
DP World's fully automated Terminal 2 at Jebel Ali Port in Dubai. The UAE is one of the EU’s top trading partners. Reuters

Obviously, this has not happened overnight, or even throughout this decade alone. It has developed over the course of several decades, thanks to the deeply rooted historical relationship between the Emirates and Europe, starting with the very first visit of UAE Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, to Europe in August 1951.

Europeans were starting to build an economic union after the devastating Second World War, and the UAE was laying the groundwork for its phenomenal economic transformation. Seventy-three years later, the EU is a unique partnership between 27 European countries and home to about 450 million people. The UAE is a worldwide financial, trade and logistics hub and a key international player.

Sheikh Zayed on the Eiffel Tower in 1951
Sheikh Zayed on the Eiffel Tower in 1951
The EU and the UAE both seek a two-state solution to the Palestinian-Israeli conflict

Since I presented my credentials in October last year, I have witnessed a surge in high-level visits from EU leaders to the UAE. During this short period, I have welcomed several high-level delegations from Brussels, including European Council President Charles Michel and European Commission President Ursula von der Leyen, twice.

Bilateral relations might be thriving, but the region as a whole is facing one of its worst humanitarian and security crises. High Representative of the EU for Foreign Affairs and Security Policy Josep Borrell recently said: “One year after the terrible attack against Israel, the situation is only getting worse. The people in the region are more insecure than ever and are caught in an unending cycle of violence, hatred, and revenge.” And our frequent exchanges, including at the highest level, show that our bilateral relationship is paramount for tackling these crises together.

Gravely concerned by the worsening humanitarian situation in Gaza, the EU has quadrupled its emergency assistance to €103 million ($112m) for the Palestinian people last year, while committing €275m in aid for this year. The UAE, meanwhile, has delivered the highest amount of humanitarian aid to Gaza since the conflict started.

The EU and the UAE both seek a two-state solution to the Palestinian-Israeli conflict, reject the escalation of violence across the Middle East, and believe that no military solution will bring a future to Palestinians or Israelis. Our collaboration with the UAE and other partners will continue to ensure that support reaches those most affected by the crisis while we continue exploring ways to build on our respective capacities and experiences, to lay the groundwork for the day after, and hopefully build a sustainable peace and prosperity for the wider region. As the European experience shows, sustainable peace even after the most devastating war is possible; this is after all how the EU was built following two devastating wars in Europe.

In Europe, on the other hand, our security is also fundamentally affected by Russia’s ongoing war of aggression against Ukraine, and we are grateful to our partners in the region for their efforts to help resolve this conflict. The UAE has played a key role in mediation between Russia and Ukraine, resulting in the release of hundreds of captives and has contributed millions to support various humanitarian initiatives in Ukraine, underscoring its commitment to aiding those affected by the conflict.

  • Smoke rises after Israeli air strikes targeted Palestine Tower in Gaza city on October 7, 2023. EPA
    Smoke rises after Israeli air strikes targeted Palestine Tower in Gaza city on October 7, 2023. EPA
  • Palestinians take control of an Israeli Merkava battle tank after crossing the border fence with Israel from Khan Yunis in the southern Gaza Strip on October 7, 2023. AFP
    Palestinians take control of an Israeli Merkava battle tank after crossing the border fence with Israel from Khan Yunis in the southern Gaza Strip on October 7, 2023. AFP
  • This video grab from footage released by the Israeli Hostage and Missing Families Forum campaign group on May 22 shows what the group described as Israeli female soldiers being captured by Palestinian Hamas militants during the October 7, 2023, attack on Israel. AFP
    This video grab from footage released by the Israeli Hostage and Missing Families Forum campaign group on May 22 shows what the group described as Israeli female soldiers being captured by Palestinian Hamas militants during the October 7, 2023, attack on Israel. AFP
  • Smoke rises following an Israeli air strike in Gaza city on October 9, 2023. EPA
    Smoke rises following an Israeli air strike in Gaza city on October 9, 2023. EPA
  • A rocket is launched from the coastal Gaza strip towards Israel by militants of the Ezz Al-Din Al Qassam militia, the military wing of Hamas movement, in Gaza city. EPA
    A rocket is launched from the coastal Gaza strip towards Israel by militants of the Ezz Al-Din Al Qassam militia, the military wing of Hamas movement, in Gaza city. EPA
  • Israel's Iron Dome anti-missile system intercepts rockets launched from the Gaza Strip, as seen from the city of Ashkelon, Israel, on October 9, 2023. Reuters
    Israel's Iron Dome anti-missile system intercepts rockets launched from the Gaza Strip, as seen from the city of Ashkelon, Israel, on October 9, 2023. Reuters
  • Lightning strikes as smoke billows following an Israeli air strike in Gaza city on October 9, 2023. AFP
    Lightning strikes as smoke billows following an Israeli air strike in Gaza city on October 9, 2023. AFP
  • An Israeli artillery unit fires at an area along the border with Gaza, southern Israel, on October 11, 2023. EPA
    An Israeli artillery unit fires at an area along the border with Gaza, southern Israel, on October 11, 2023. EPA
  • Ultra-Orthodox Jewish people carry their belongings before boarding a ship for US nationals and their immediate family members, as they leave Israel headed for Cyprus. Reuters
    Ultra-Orthodox Jewish people carry their belongings before boarding a ship for US nationals and their immediate family members, as they leave Israel headed for Cyprus. Reuters
  • Palestinian youths take cover behind a rubbish container as they clash with Israeli forces at the northern entrance of the West Bank city of Ramallah near the Israeli settlement of Beit El on October 20, 2023. AFP
    Palestinian youths take cover behind a rubbish container as they clash with Israeli forces at the northern entrance of the West Bank city of Ramallah near the Israeli settlement of Beit El on October 20, 2023. AFP
  • A man mourns as he attends a funeral of Palestinians killed in Israeli strikes in Khan Younis in the southern Gaza Strip on October 24, 2023. Reuters
    A man mourns as he attends a funeral of Palestinians killed in Israeli strikes in Khan Younis in the southern Gaza Strip on October 24, 2023. Reuters
  • A man holds a child, survivors of Israeli bombardment, as they are treated at a trauma ward at Nasser hospital in Khan Yunis in the southern Gaza Strip on October 24, 2023. AFP
    A man holds a child, survivors of Israeli bombardment, as they are treated at a trauma ward at Nasser hospital in Khan Yunis in the southern Gaza Strip on October 24, 2023. AFP
  • People search for survivors and the bodies of victims through the rubble of buildings destroyed during Israeli bombardment in Khan Yunis in the southern Gaza Strip on October 26, 2023. AFP
    People search for survivors and the bodies of victims through the rubble of buildings destroyed during Israeli bombardment in Khan Yunis in the southern Gaza Strip on October 26, 2023. AFP
  • Anti-war protesters raise their 'bloody' hands behind US Secretary of State Antony Blinken during a Senate Appropriations Committee hearing on President Biden's $106 billion national security supplemental funding request to support Israel and Ukraine, as well as bolster border security, on Capitol Hill in Washington on October 31, 2023. Reuters
    Anti-war protesters raise their 'bloody' hands behind US Secretary of State Antony Blinken during a Senate Appropriations Committee hearing on President Biden's $106 billion national security supplemental funding request to support Israel and Ukraine, as well as bolster border security, on Capitol Hill in Washington on October 31, 2023. Reuters
  • Palestinians run for cover after a strike near the Al Shifa hospital in Gaza city on November 1, 2023. AFP
    Palestinians run for cover after a strike near the Al Shifa hospital in Gaza city on November 1, 2023. AFP
  • Palestinian children run as they flee from Israeli bombardment in Rafah in the southern Gaza Strip on November 6, 2023. AFP
    Palestinian children run as they flee from Israeli bombardment in Rafah in the southern Gaza Strip on November 6, 2023. AFP
  • An injured Palestinian woman covered in dust and blood hugs an injured girl child at the hospital following the Israeli bombardment of Khan Yunis in the southern Gaza Strip on November 15, 2023. AFP
    An injured Palestinian woman covered in dust and blood hugs an injured girl child at the hospital following the Israeli bombardment of Khan Yunis in the southern Gaza Strip on November 15, 2023. AFP
  • Hostages released by Hamas Gal, left, and Tal Almog-Goldstein, second left, stand in a bus transporting them to an army base in Ofakim in southern Israel after they were released by the Palestinian militant group from the Gaza Strip on November 26, 2023. AFP
    Hostages released by Hamas Gal, left, and Tal Almog-Goldstein, second left, stand in a bus transporting them to an army base in Ofakim in southern Israel after they were released by the Palestinian militant group from the Gaza Strip on November 26, 2023. AFP
  • Palestinian boys stand in their makeshift tent at a camp set up on a schoolyard in Rafah in the southern Gaza Strip where most civilians have taken refuge, on December 13, 2023. AFP
    Palestinian boys stand in their makeshift tent at a camp set up on a schoolyard in Rafah in the southern Gaza Strip where most civilians have taken refuge, on December 13, 2023. AFP
  • Palestinians fleeing the north through the Salaheddin road in the Zeitoun district on the southern outskirts of Gaza city, walk past Israeli army tanks on November 24, 2023. AFP
    Palestinians fleeing the north through the Salaheddin road in the Zeitoun district on the southern outskirts of Gaza city, walk past Israeli army tanks on November 24, 2023. AFP
  • In this picture taken during a media tour organised by the Israeli military on December 15, 2023, soldiers visit a tunnel that Hamas reportedly used to attack Israel through the Erez border crossing on October 7. AFP
    In this picture taken during a media tour organised by the Israeli military on December 15, 2023, soldiers visit a tunnel that Hamas reportedly used to attack Israel through the Erez border crossing on October 7. AFP
  • Jewish protesters block the passage of aid trucks being sent to Gaza in Ashdod, Israel on February 1, 2024. Reuters
    Jewish protesters block the passage of aid trucks being sent to Gaza in Ashdod, Israel on February 1, 2024. Reuters
  • A man pulls water containers as he walks past destroyed buildings in Khan Younis on May 5, 2024. AFP
    A man pulls water containers as he walks past destroyed buildings in Khan Younis on May 5, 2024. AFP
  • Relatives of Hanan Yablonka, one of the Israeli hostages held in the Gaza Strip since the October 7, 2023 attack by Palestinian Hamas militants, mourn during his funeral in Tel Aviv on May 26. AFP
    Relatives of Hanan Yablonka, one of the Israeli hostages held in the Gaza Strip since the October 7, 2023 attack by Palestinian Hamas militants, mourn during his funeral in Tel Aviv on May 26. AFP
  • Humanitarian aid packages land after being dropped from a plane in Al Mawasi district of Khan Younis, on May 30, 2024. Reuters
    Humanitarian aid packages land after being dropped from a plane in Al Mawasi district of Khan Younis, on May 30, 2024. Reuters
  • Palestinians attend Eid al-Adha prayer in Khan Younis town, southern Gaza strip, on June 16. EPA
    Palestinians attend Eid al-Adha prayer in Khan Younis town, southern Gaza strip, on June 16. EPA
  • Displaced Palestinians play football in Jabalia on July 23, 2024. AFP
    Displaced Palestinians play football in Jabalia on July 23, 2024. AFP
  • Palestinians injured in an Israeli strike on a school ride on the back of a cart in Deir Al Balah on July 27, 2024. AFP
    Palestinians injured in an Israeli strike on a school ride on the back of a cart in Deir Al Balah on July 27, 2024. AFP
  • Palestinians gather to receive food cooked by a charity kitchen, amid the Israel-Hamas conflict, in the northern Gaza Strip, September 11. Reuters
    Palestinians gather to receive food cooked by a charity kitchen, amid the Israel-Hamas conflict, in the northern Gaza Strip, September 11. Reuters
  • Palestinians survey the damage at the site of Israeli strikes on a displacement camp in Khan Younis on September 10, 2024. AFP
    Palestinians survey the damage at the site of Israeli strikes on a displacement camp in Khan Younis on September 10, 2024. AFP
  • A medical staff member carries supplies through a destroyed section of Al Shifa hospital in Gaza city on September 17. AFP
    A medical staff member carries supplies through a destroyed section of Al Shifa hospital in Gaza city on September 17. AFP
  • People walk past makeshift graves in Gaza city on September 17. AFP
    People walk past makeshift graves in Gaza city on September 17. AFP

In Europe, we need a long-term solution as well, and to achieve that, we must strengthen co-operation with our partners in the region, similar to the collaboration we have on crises in the Middle East. This is essential for building a sustainable peace while respecting the territorial integrity and sovereignty of Ukraine.

Further, joint EU-UAE efforts can also play a pivotal role in de-escalating conflicts and stabilising areas like in Lebanon, Yemen, Syria and Sudan. While we work on our parts in these multitudes of crises, we continue looking at the bigger picture and considering how a long-term, comprehensive solution can bring peace and stability to all. In the meantime, the EU and its member states remain committed to protecting freedom of navigation in the Red Sea, particularly through the “Aspides” maritime operation.

We also continue building on our economic ties following our excellent collaboration before and during Cop28, which resulted in many opportunities for further joint work on climate action, green transition and sustainable energy. Other new initiatives include emerging areas such as AI where the EU is a leader in regulation, notably towards the safe use and trustworthiness of this new technology. Co-operation is also intensifying in other sectors such as innovation and research, education, women empowerment and people-to-people contacts. After all, let’s not forget that the UAE is the only country in the Gulf with a Schengen visa waiver.

Looking ahead, the first-ever EU-GCC Leaders Summit, which will take place on Wednesday in Brussels, represents another pivotal moment in our relationship with the UAE. This summit is not merely ceremonial; it signals a new era of collaboration in critical areas such as trade, energy, security and global development efforts.

Despite challenges ahead, I remain optimistic about the prospects of the region and the continued growth of EU-UAE relations. Our partnership is resilient and dynamic, capable of adapting to the evolving needs of our regions while maintaining a shared vision for a prosperous, secure and sustainable future.

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Short-term let permits explained

Homeowners and tenants are allowed to list their properties for rental by registering through the Dubai Tourism website to obtain a permit.

Tenants also require a letter of no objection from their landlord before being allowed to list the property.

There is a cost of Dh1,590 before starting the process, with an additional licence fee of Dh300 per bedroom being rented in your home for the duration of the rental, which ranges from three months to a year.

Anyone hoping to list a property for rental must also provide a copy of their title deeds and Ejari, as well as their Emirates ID.

Bawaal%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Nitesh%20Tiwari%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Varun%20Dhawan%2C%20Janhvi%20Kapoor%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%201%2F5%3C%2Fp%3E%0A
ICC Women's T20 World Cup Asia Qualifier 2025, Thailand

UAE fixtures
May 9, v Malaysia
May 10, v Qatar
May 13, v Malaysia
May 15, v Qatar
May 18 and 19, semi-finals
May 20, final

MATCH INFO

Serie A

Juventus v Fiorentina, Saturday, 8pm (UAE)

Match is on BeIN Sports

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Floward%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ERiyadh%2C%20Saudi%20Arabia%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EAbdulaziz%20Al%20Loughani%20and%20Mohamed%20Al%20Arifi%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EE-commerce%0D%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%20%3C%2Fstrong%3EAbout%20%24200%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EAljazira%20Capital%2C%20Rainwater%20Partners%2C%20STV%20and%20Impact46%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E1%2C200%3C%2Fp%3E%0A
In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

Brief scores:

Liverpool 3

Mane 24', Shaqiri 73', 80'

Manchester United 1

Lingard 33'

Man of the Match: Fabinho (Liverpool)

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

Available: Now

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

While you're here
Brief scoreline:

Manchester United 2

Rashford 28', Martial 72'

Watford 1

Doucoure 90'

Day 2, Abu Dhabi Test: At a glance

Moment of the day Dinesh Chandimal has inherited a challenging job, after being made Sri Lanka’s Test captain. He responded in perfect fashion, with an easy-natured century against Pakistan. He brought up three figures with a majestic cover drive, which he just stood and admired.

Stat of the day – 33 It took 33 balls for Dilruwan Perera to get off the mark. His time on zero was eventful enough. The Sri Lankan No 7 was given out LBW twice, but managed to have both decisions overturned on review. The TV replays showed both times that he had inside edged the ball onto his pad.

The verdict In the two previous times these two sides have met in Abu Dhabi, the Tests have been drawn. The docile nature of proceedings so far makes that the likely outcome again this time, but both sides will be harbouring thoughts that they can force their way into a winning position.

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

Men's football draw

Group A: UAE, Spain, South Africa, Jamaica

Group B: Bangladesh, Serbia, Korea

Group C: Bharat, Denmark, Kenya, USA

Group D: Oman, Austria, Rwanda

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

Arabian Gulf League fixtures:

Friday:

  • Emirates v Hatta, 5.15pm
  • Al Wahda v Al Dhafra, 5.25pm
  • Al Ain v Shabab Al Ahli Dubai, 8.15pm

Saturday:

  • Dibba v Ajman, 5.15pm
  • Sharjah v Al Wasl, 5.20pm
  • Al Jazira v Al Nasr, 8.15pm
Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

TERMINAL HIGH ALTITUDE AREA DEFENCE (THAAD)

What is THAAD?

It is considered to be the US's most superior missile defence system.

Production:

It was created in 2008.

Speed:

THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.

Abilities:

THAAD is designed to take out  ballistic missiles as they are on their downward trajectory towards their target, otherwise known as the "terminal phase".

Purpose:

To protect high-value strategic sites, such as airfields or population centres.

Range:

THAAD can target projectiles inside and outside the Earth's atmosphere, at an altitude of 150 kilometres above the Earth's surface.

Creators:

Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.

UAE and THAAD:

In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then stationed them in 2016, becoming the first Gulf country to do so.

Company profile

Name: GiftBag.ae

Based: Dubai

Founded: 2011

Number of employees: 4

Sector: E-commerce

Funding: Self-funded to date

THE%20FLASH
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Andy%20Muschietti%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Sasha%20Calle%2C%20Ben%20Affleck%2C%20Ezra%20Miller%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
Scoreline

Liverpool 3
Mane (7'), Salah (69'), Firmino (90')

Bournemouth 0

How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.

PROFILE OF INVYGO

Started: 2018

Founders: Eslam Hussein and Pulkit Ganjoo

Based: Dubai

Sector: Transport

Size: 9 employees

Investment: $1,275,000

Investors: Class 5 Global, Equitrust, Gulf Islamic Investments, Kairos K50 and William Zeqiri

SPECS

Nissan 370z Nismo

Engine: 3.7-litre V6

Transmission: seven-speed automatic

Power: 363hp

Torque: 560Nm

Price: Dh184,500

EMIRATES'S%20REVISED%20A350%20DEPLOYMENT%20SCHEDULE
%3Cp%3E%3Cstrong%3EEdinburgh%3A%3C%2Fstrong%3E%20November%204%20%3Cem%3E(unchanged)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBahrain%3A%3C%2Fstrong%3E%20November%2015%20%3Cem%3E(from%20September%2015)%3C%2Fem%3E%3B%20second%20daily%20service%20from%20January%201%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EKuwait%3A%3C%2Fstrong%3E%20November%2015%20%3Cem%3E(from%20September%2016)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMumbai%3A%3C%2Fstrong%3E%20January%201%20%3Cem%3E(from%20October%2027)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAhmedabad%3A%3C%2Fstrong%3E%20January%201%20%3Cem%3E(from%20October%2027)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColombo%3A%3C%2Fstrong%3E%20January%202%20%3Cem%3E(from%20January%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMuscat%3A%3C%2Fstrong%3E%3Cem%3E%20%3C%2Fem%3EMarch%201%3Cem%3E%20(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ELyon%3A%3C%2Fstrong%3E%20March%201%20%3Cem%3E(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBologna%3A%3C%2Fstrong%3E%20March%201%20%3Cem%3E(from%20December%201)%3C%2Fem%3E%3C%2Fp%3E%0A%3Cp%3E%3Cem%3ESource%3A%20Emirates%3C%2Fem%3E%3C%2Fp%3E%0A
Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. 

INFO

What: DP World Tour Championship
When: November 21-24
Where: Jumeirah Golf Estates, Dubai
Tickets: www.ticketmaster.ae.

Favourite book: ‘The Art of Learning’ by Josh Waitzkin

Favourite film: Marvel movies

Favourite parkour spot in Dubai: Residence towers in Jumeirah Beach Residence

Updated: November 13, 2024, 12:50 PM