Exchange houses in the UAE have reported a spike in demand for remittances to the UK. Victor Besa for The National.
Exchange houses in the UAE have reported a spike in demand for remittances to the UK. Victor Besa for The National.
Exchange houses in the UAE have reported a spike in demand for remittances to the UK. Victor Besa for The National.
Exchange houses in the UAE have reported a spike in demand for remittances to the UK. Victor Besa for The National.


The Gulf remittance story is worth cherishing


The National
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June 24, 2022

A win-win relationship

I write in reference to Ramola Talwar Badam's article How Indians in UAE are working to secure a better future for families back home (June 16): the stories of Indian expatriates living in the UAE and providing for their families are touching. People work hard for years to give their families back home a good life. As someone who used to live in the UAE, I am aware of the hard work and sacrifices expats living in the Gulf make to afford their families the best shot at life. The Gulf expat story is an integral part of the larger Gulf development story. Everyone from expats to locals to governments can be proud of this decades-long, mutually beneficial arrangement.

K Ragavan, Bengaluru, India

EU should have its own security council

I write in reference to Neil Murphy's article Ukraine awaits EU word on membership as Russia makes gains near Severodonetsk (June 20): as many readers have already noticed, decisions, whether in Nato or the EU, are blocked with constant vetoes. Now, it has to be said about the veto in the EU that it is used very often by Hungary, for example, in the bloc's planned sanctions against Russia. This could be remedied if only the six founding members of the EU – France, Germany, Italy and the so-called Benelux countries – have the right of veto within the organisation.

Stefan Vollmershausen, Berlin, Germany

People should continue to wear masks

I write in reference to Nick Webster and Shireena Al Nowais' article Doctors warn complacency is the biggest risk as Covid-19 cases in UAE rise (June 22): in Canada, at a grocery store check-out counter recently, an unmasked young man in the queue stood inches away from me. I requested him to wear a mask and/or keep his distance as marked on the floor. Whereupon, he rudely and loudly asked if I was the police. He also called me ignorant and said the mask mandate had been lifted. There was general laughter from other unmasked shoppers. I wish the store staff had demanded the man leave the shop. The sign on the door clearly said: “No mask. No entry.” But they did not. Instead, I left without the groceries.

It seems that in parts of the world the human and financial costs of Covid-19 have not been felt by many people.

Asha Gidwani, Toronto, Canada

The 12 breakaway clubs

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

Qosty Byogaani

Starring: Hani Razmzi, Maya Nasir and Hassan Hosny

Four stars

Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

Punchy appearance

Roars of support buoyed Mr Johnson in an extremely confident and combative appearance

Racecard

5.25pm: Etihad Museum – Maiden (TB) Dh82,500 (Turf) 1,200m

6pm: Al Shindaga Museum – Handicap (TB) Dh87,500 (Dirt) 1,200m

6.35pm: Poet Al Oqaili – Handicap (TB) Dh95,000 (T) 1,400m

7.10pm: Majlis Ghurfat Al Sheif – Handicap (TB) Dh87,500 (D) 1,600m

7.45pm: Hatta – Handicap (TB) Dh95,000 (T) 1,400m

8.20pm: Al Fahidi – Rated Conditions (TB) Dh87,500 (D) 2,200m

8.55pm: Zabeel Trophy – Rated Conditions (TB) Dh120,000 (T) 1,600m

9.30pm: Coins Museum – Rated Conditions (TB) Dh95,000 (D) 1,600m

10.05pm: Al Quoz Creative – Handicap (TB) Dh95,000 (T) 1,000m

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Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Tonight's Chat on The National

Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.

Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.

Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.

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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.

AndhaDhun

Director: Sriram Raghavan

Producer: Matchbox Pictures, Viacom18

Cast: Ayushmann Khurrana, Tabu, Radhika Apte, Anil Dhawan

Rating: 3.5/5

The nine articles of the 50-Year Charter

1. Dubai silk road

2.  A geo-economic map for Dubai

3. First virtual commercial city

4. A central education file for every citizen

5. A doctor to every citizen

6. Free economic and creative zones in universities

7. Self-sufficiency in Dubai homes

8. Co-operative companies in various sectors

­9: Annual growth in philanthropy

The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

Third Test

Day 3, stumps

India 443-7 (d) & 54-5 (27 ov)
Australia 151

India lead by 346 runs with 5 wickets remaining

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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.” 

Updated: June 24, 2022, 3:00 AM