Consumer protection for UAE's online shoppers


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DUBAI// About 25 shopping websites have registered with the Department of Economic Development (Ded).

All companies headquartered in the emirate are being urged to display the department's consumer protection hotline number on their homepages.

The push is part of a campaign launched a year ago aimed at raising shoppers' awareness of who to contact should they need to complain.

Under the directive, companies that fail to provide details could face a fine, although none have been issued so far.

"Roughly 25 online shopping sites have registered since Ded issued the directive on displaying the consumer rights protection logo on such sites last year," said Adel Al Helou, head of Ded's consumer awareness section. "Ded advises and assists such sites to display the logo through a simple procedure."

Ded estimated last year that more than 100 websites were offering e-commerce services in the UAE.

"Any action for non-compliance is initiated only after encouraging and assisting the websites to comply with the directive," Mr Al Helou said.

The campaign has been welcomed by consumers, who say more must be done before online shopping becomes established in the UAE.

"It's good that these companies have put the phone number on their site, but I think what is more important is if you can contact them directly to resolve a problem," said Adnan Khan, from Dubai.

"One of the reasons I'm a bit unsure about ordering stuff online is the hassle you have to go through to return stuff if you don't like it or it's damaged.

"You know where you stand if you buy something in person."

More than Dh7 billion has been spent online in the UAE in recent years but some consumers still believe it is risky to buy from websites.

"They never deliver on time and when they do you end up having to wait for most of the day," said a British resident. "Also, many of the things I would like to order aren't available in this country, so I would usually have to go through Amazon, where the cost of shipping can be very high - and that's if they ship here at all."

Ded said it wanted people to be as aware of their rights when shopping online as when they were at a mall.

A number of businesses, including shops, cafes, restaurants and other outlets in Dubai, already display yellow signs with details of the consumer protection department at counters and on walls. To make a complaint, call Ded's hotline on 600 545555.

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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.

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Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

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Final:
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UAE Team Emirates

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Things Heard & Seen

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Starring: Amanda Seyfried, James Norton

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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.

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