The Central Bank says the amount of coins circulating in the UAE is sufficient for the moment, despite complaints about small change and rounding up of prices after the introduction of VAT.
“The role of Central Bank of the UAE is to monitor cash use in the market and supply banks with the quantities of coins they require to address the needs of their various customers,” the regulator said on Sunday.
“At the moment, the amount of coins including small denomination in the market is sufficient.”
The move follows Thursday’s clarification by Abu Dhabi’s Department of Economic Development that shops in the emirate could round up the cost of products by 20 fils.
A bottle of water that is now Dh1.05 can be rounded up to Dh1.25 – a 25 per cent increase from the pre-VAT cost.
But shops and service providers are under no legal obligation to round up. And the 1, 5 and 10 fils coins are rarely used but are still legal tender.
Major supermarket chains on Sunday clarified their approach.
Spinneys said it was working to ensure a minimal effect on customers and is rounding down to the nearest 25 fils at checkouts on the total cost of goods.
“There will always be teething issues with any major change,” a spokesman for Spinneys said.
“We have used a combination of rounding up and rounding down to be as close to 5 per cent as possible and ensure sensible pricing for our customers.
“The policy at Spinneys has been, and continues to be, to round down to the nearest 25 fils at the checkout, giving the customer the benefit.”
_______________
Read more:
Sheikh Mohammed: 70% of VAT revenue to be used in local projects
UAE workers buy in bulk to beat VAT as small purchases prove too costly
National Editorial: How to reduce rounding up in our shops and stores
_______________
Carrefour said that in the case of cash transactions, change would be rounded up or down to the nearest quarter dirham – 25 fils, 50 fils and 75 fils. And in accordance with the departments rule, the rounding-up should not exceed 20 fils.
“In the credit and debit card transactions, the exact total amount will be deducted,” it said. “The company is carrying out different campaigns where they are absorbing VAT on selected items. An example is the Dubai Shopping Festival Campaign.”
The Fathima chain said it was rounding down prices.
“We have implemented VAT at individual items and rounded down the prices so that our loyal set of customers don’t feel the hit,” said Sameer Sulaiman, chief executive of Fathima Group.
The Zoom convenience chain, which is owned by Emirates National Oil Company, said it was following the department’s directive. “Zoom will round the VAT figures to the nearest 25 fils,” it said. “We are aware of the difficulties faced and we are working closely with DED for a solution.”
Many other outlets still seem to be figuring out the path ahead. When a latte came to Dh18.90 in one prominent coffee chain in the capital over the weekend, 25 fils change was handed over.
The cashier said it was done on a case-by-case basis and a formal policy on rounding up or down was not yet in effect. But two other branches of the same chain said they were rounding up to Dh19.
In another shop selling weight-gaining supplements in Khalidiya, the cashier said they offered 25 fils as change if 10 fils was the correct amount because they did not have small coins. But he said that many customers didn’t bother with the change.
Many lower-income workers are buying in bulk to offset the cost of rounding up. The increases will hit these workers the hardest.
It is not yet clear if the department’s rounding-up clarification applies to all emirates. But in phone calls to consumer lines at the Ministry of Interior and the Dubai Department of Economic Development, it was stated that consumers have a legal right to the correct change. And if you do not receive it, consumers can raise complaints.
In Dubai people can complain through the Ahlan Dubai number at 600 545555, while the UAE-wide Federal Consumer Protection Office can be reached on 600 522225.
______________________
Read more:
VAT in UAE: Abu Dhabi shops can round low-cost items by up to 20 fils
How VAT in the UAE will affect you
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
Full list of Emmy 2020 nominations
LEAD ACTOR IN A COMEDY SERIES
Anthony Anderson, Black-ish
Don Cheadle, Black Monday
Ted Danson, The Good Place
Michael Douglas, The Kominsky Method
Eugene Levy, Schitt’s Creek
Ramy Youssef, Ramy
LEAD ACTRESS IN A COMEDY SERIES
Christina Applegate, Dead to Me
Rachel Brosnahan, The Marvelous Mrs. Maisel
Linda Cardellini, Dead to Me
Catherine O’Hara, Schitt’s Creek
Issa Rae, Insecure
Tracee Ellis Ross, Black-ish
OUTSTANDING VARIETY/TALK SERIES
The Daily Show with Trevor Noah
Full Frontal with Samantha Bee
Jimmy Kimmel Live
Last Week Tonight with John Oliver
The Late Show with Stephen Colbert
LEAD ACTOR IN A DRAMA SERIES
Jason Bateman, Ozark
Sterling K. Brown, This Is Us
Steve Carell, The Morning Show
Brian Cox, Succession
Billy Porter, Pose
Jeremy Strong, Succession
LEAD ACTRESS IN A DRAMA SERIES
Jennifer Aniston, The Morning Show
Olivia Colman, The Crown
Jodie Comer, Killing Eve
Laura Linney, Ozark
Sandra Oh, Killing Eve
Zendaya, Euphoria
OUTSTANDING REALITY/COMPETITION PROGRAM
The Masked Singer
Nailed It!
RuPaul’s Drag Race
Top Chef
The Voice
LEAD ACTOR IN A LIMITED SERIES/TV MOVIE
Jeremy Irons, Watchmen
Hugh Jackman, Bad Education
Paul Mescal, Normal People
Jeremy Pope, Hollywood
Mark Ruffalo, I Know This Much Is True
LEAD ACTRESS IN A LIMITED SERIES/TV MOVIE
Cate Blanchett, Mrs. America
Shira Haas, Unorthodox
Regina King, Watchmen
Octavia Spencer, Self Made
Kerry Washington, Little Fires Everywhere
OUTSTANDING LIMITED SERIES
Little Fires Everywhere
Mrs. America
Unbelievable
Unorthodox
Watchmen
OUTSTANDING COMEDY SERIES
Curb Your Enthusiasm
Dead to Me
The Good Place
Insecure
The Kominsky Method
The Marvelous Mrs. Maisel
Schitt’s Creek
What We Do In The Shadows
OUTSTANDING DRAMA SERIES
Better Call Saul
The Crown
The Handmaid’s Tale
Killing Eve
The Mandalorian
Ozark
Stranger Things
Succession
The specs
Engine: 3.0-litre six-cylinder MHEV
Power: 360bhp
Torque: 500Nm
Transmission: eight-speed automatic
Price: from Dh282,870
On sale: now
Also on December 7 to 9, the third edition of the Gulf Car Festival (www.gulfcarfestival.com) will take over Dubai Festival City Mall, a new venue for the event. Last year's festival brought together about 900 cars worth more than Dh300 million from across the Emirates and wider Gulf region – and that first figure is set to swell by several hundred this time around, with between 1,000 and 1,200 cars expected. The first day is themed around American muscle; the second centres on supercars, exotics, European cars and classics; and the final day will major in JDM (Japanese domestic market) cars, tuned vehicles and trucks. Individuals and car clubs can register their vehicles, although the festival isn’t all static displays, with stunt drifting, a rev battle, car pulls and a burnout competition.
Two-step truce
The UN-brokered ceasefire deal for Hodeidah will be implemented in two stages, with the first to be completed before the New Year begins, according to the Arab Coalition supporting the Yemeni government.
By midnight on December 31, the Houthi rebels will have to withdraw from the ports of Hodeidah, Ras Issa and Al Saqef, coalition officials told The National.
The second stage will be the complete withdrawal of all pro-government forces and rebels from Hodeidah city, to be completed by midnight on January 7.
The process is to be overseen by a Redeployment Co-ordination Committee (RCC) comprising UN monitors and representatives of the government and the rebels.
The agreement also calls the deployment of UN-supervised neutral forces in the city and the establishment of humanitarian corridors to ensure distribution of aid across the country.
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
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- Only invest in crypto projects that you fully understand.
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The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
PREMIER LEAGUE RESULTS
Bournemouth 1 Manchester City 2
Watford 0 Brighton and Hove Albion 0
Newcastle United 3 West Ham United 0
Huddersfield Town 0 Southampton 0
Crystal Palace 0 Swansea City 2
Manchester United 2 Leicester City 0
West Bromwich Albion 1 Stoke City 1
Chelsea 2 Everton 0
Tottenham Hotspur 1 Burnley 1
Liverpool 4 Arsenal 0
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
Liz%20Truss
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Profile of VoucherSkout
Date of launch: November 2016
Founder: David Tobias
Based: Jumeirah Lake Towers
Sector: Technology
Size: 18 employees
Stage: Embarking on a Series A round to raise $5 million in the first quarter of 2019 with a 20 per cent stake
Investors: Seed round was self-funded with “millions of dollars”
RESULTS
6.30pm UAE 1000 Guineas Trial Conditions (TB) US$100,000 (Dirt) 1,400m
Winner Final Song, Christophe Soumillon (jockey), Saeed bin Suroor (trainer).
7.05pm Handicap (TB) $135,000 (Turf) 1,000m
Winner Almanaara, Dane O’Neill, Doug Watson.
7.40pm Handicap (TB) $175,000 (D) 1,900m
Winner Grand Argentier, Brett Doyle, Doug Watson.
8.15pm Meydan Challenge Listed Handicap (TB) $175,000 (T) 1,400m
Winner Major Partnership, Patrick Cosgrave, Saeed bin Suroor.
8.50pm Dubai Stakes Group 3 (TB) $200,000 (D) 1,200m
Winner Gladiator King, Mickael Barzalona, Satish Seemar.
9.25pm Dubai Racing Club Classic Listed Handicap (TB) $175,000 (T) 2,410m
Winner Universal Order, Richard Mullen, David Simcock.
In numbers
Number of Chinese tourists coming to UAE in 2017 was... 1.3m
Alibaba’s new ‘Tech Town’ in Dubai is worth... $600m
China’s investment in the MIddle East in 2016 was... $29.5bn
The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn
Boost to the UAE economy of 5G connectivity will be... $269bn
England v West Indies
England squad for the first Test Cook, Stoneman, Westley, Root (captain), Malan, Stokes, Bairstow, Moeen, Roland-Jones, Broad, Anderson, Woakes, Crane
Fixtures
1st Test Aug 17-21, Edgbaston
2nd Test Aug 25-29, Headingley
3rd Test Sep 7-11, Lord's
RACE SCHEDULE
All times UAE ( 4 GMT)
Friday, September 29
First practice: 7am - 8.30am
Second practice: 11am - 12.30pm
Saturday, September 30
Qualifying: 1pm - 2pm
Sunday, October 1
Race: 11am - 1pm
Jumanji: The Next Level
Director: Jake Kasdan
Stars: Dwayne Johnson, Kevin Hart, Karen Gillan, Jack Black, Nick Jonas
Two out of five stars
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
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
Under 19 Cricket World Cup, Asia Qualifier
Fixtures
Friday, April 12, Malaysia v UAE
Saturday, April 13, UAE v Nepal
Monday, April 15, UAE v Kuwait
Tuesday, April 16, UAE v Singapore
Thursday, April 18, UAE v Oman
UAE squad
Aryan Lakra (captain), Aaron Benjamin, Akasha Mohammed, Alishan Sharafu, Anand Kumar, Ansh Tandon, Ashwanth Valthapa, Karthik Meiyappan, Mohammed Faraazuddin, Rishab Mukherjee, Niel Lobo, Osama Hassan, Vritya Aravind, Wasi Shah
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
The specs: 2018 Mercedes-AMG C63 S Cabriolet
Price, base: Dh429,090
Engine 4.0-litre twin-turbo V8
Transmission Seven-speed automatic
Power 510hp @ 5,500rpm
Torque 700Nm @ 1,750rpm
Fuel economy, combined 9.2L / 100km
BUNDESLIGA FIXTURES
Saturday, May 16 (kick-offs UAE time)
Borussia Dortmund v Schalke (4.30pm)
RB Leipzig v Freiburg (4.30pm)
Hoffenheim v Hertha Berlin (4.30pm)
Fortuna Dusseldorf v Paderborn (4.30pm)
Augsburg v Wolfsburg (4.30pm)
Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)
Sunday, May 17
Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)
Monday, May 18
Werder Bremen v Bayer Leverkusen (9.30pm)
South Africa's T20 squad
Duminy (c), Behardien, Dala, De Villiers, Hendricks, Jonker, Klaasen (wkt), Miller, Morris, Paterson, Phangiso, Phehlukwayo, Shamsi, Smuts.