ABU DHABI // For 12 years, Amjad Ali has driven a white-and-gold taxi in the capital. Within months he might have to find a new job.
His permit expires on June 30, and he fears it will not be renewed.
Abu Dhabi's taxi regulator, TransAD, has been phasing out the older white-and-gold cabs over the past five years in favour of the newer silver taxis.
The authority says all the old taxis - which at their peak numbered more than 8,000 - will be "completely and without exception" phased out by the end of this year.
The fewer than 1,000 that remain will not have their licences renewed beyond December 31 - including those that have previously been granted renewal on compassionate grounds.
Mr Ali, 31, from Parachinar in Pakistan, is concerned that he, along with many of other drivers of the remaining white-and-gold taxis, may have no choice but to return home. "At least 10 of my friends have left the country since 2007," he said. "Now I have to start looking for a job."
Unlike the new silver taxis, which are owned by one of six franchise-holding companies, the white-and-gold taxis are owned by Emirati sponsors. Mr Ali says he earns about Dh200 a day and pays the owner Dh2,000 at the end of each month.
"Many people like us because we're cheaper than the silver taxis," Mr Ali said. "Some say they don't feel safe when they ride in our taxis. But not all taxi drivers are bad."
Hassan Nazir, 25, a Pakistani driver from Peshawar, said: "Rich people go to the silver taxis. Emiratis also like our taxis. We're cheaper and many depend on us."
Fifteen of Mr Nazir's friends have had to go home after their licences ran out, some of whom had been driving the white-and gold taxis for as many as 10 years.
His licence expires on October 31, and he is still hopeful that the authorities will renew it, at least until the end of the year. That, or he would like to drive a silver taxi.
"I'd like to work in Arabia, Cars or National Taxi," Mr Nazir said, listing some of the TransAD franchise holders. "But I speak very little English."
Many white-and-gold cabbies have made the switch, according to TransAD, and are now driving some of the 5,300 silver cabs in Abu Dhabi and 1,775 in Al Ain. They are given extra training, in driving and communication.
For some, though, the old taxis represent a better way of life. Alam Ghr, 33, from Peshawar, likes the flexibility they offer. "I can go home anytime to eat and rest," he said.
Although they can operate anywhere in the Abu Dhabi emirate except at the airport, the remaining white-and-gold taxis are often to be found at the outskirts of the capital, mostly in Mussaffah - and one even appeared in a chase scene set in Dubai in the recent Mission Impossible movie.
In Mussaffah, the taxis find a ready clientele among workers keen to split the fare for their commute into the city. Students at the Emirates Driving Company in Mussaffah pay Dh10 each for the trip, with four sharing. The journey out of town costs just Dh5 each.
"It's practical and cheaper to use the old taxis," said Gopa Kumar, 40, an accountant in Abu Dhabi who takes driving lessons at the Emirates Driving Company. "If I use the silver taxis, I'll have to pay Dh100 for a two-way trip."
Karen Fernandes, 30, a housewife,does not mind sharing as it means she pays just Dh10 for trip into the city instead of Dh50.
"I wouldn't say the drivers of the old taxis are safe," she said. "But they're quite good. They know the roads and have greater control of the vehicle. The new drivers in the silver taxis have no sense of direction."
But Muzahir Hussain, 25, a Pakistani driver for Arabia Taxi, argues that the silver taxis are an improvement. "Our taxis are new and clean," he said. "Passengers feel safe in our taxis, and I'm a good driver."
Bilal Hussain, 21, from Peshawar, drives a white-and-gold cab and was unaware of TransAD's year-end deadline to phase them out.
Persuaded to come to the UAE in 2008 by his brother, Rafiq, a white-and-gold driver for 10 years, he has no plans to return home.
Instead he will look for a job driving a silver taxi or a lorry. "Abu Dhabi has good laws and it is very easy to drive here," he said.
rruiz@thenational.ae
Six things you need to know about UAE Women’s Special Olympics football team
Several girls started playing football at age four
They describe sport as their passion
The girls don’t dwell on their condition
They just say they may need to work a little harder than others
When not in training, they play football with their brothers and sisters
The girls want to inspire others to join the UAE Special Olympics teams
More on Quran memorisation:
Islamic%20Architecture%3A%20A%20World%20History
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Mohammed bin Zayed Majlis
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Zayed Sustainability Prize
More on Quran memorisation:
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
Pox that threatens the Middle East's native species
Camelpox
Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.
Falconpox
Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.
Houbarapox
Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.
The years Ramadan fell in May
More from Neighbourhood Watch:
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
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Zayed Sustainability Prize
The Bio
Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
Results:
First Test: New Zealand 30 British & Irish Lions 15
Second Test: New Zealand 21 British & Irish Lions 24
Third Test: New Zealand 15 British & Irish Lions 15
How to become a Boglehead
Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.
• Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.
• Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.
• Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.
• Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.
• Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.
• Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.
• Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.
• Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.
List of alleged parties
May 12, 2020: PM and his wife Carrie attend 'work meeting' with at least 17 staff
May 20, 2020: They attend 'bring your own booze party'
Nov 27, 2020: PM gives speech at leaving party for his staff
Dec 10, 2020: Staff party held by then-education secretary Gavin Williamson
Dec 13, 2020: PM and his wife throw a party
Dec 14, 2020: London mayoral candidate Shaun Bailey holds staff event at Conservative Party headquarters
Dec 15, 2020: PM takes part in a staff quiz
Dec 18, 2020: Downing Street Christmas party
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
