Abu Dhabi, United Arab Emirates, January 3, 2013: 
Shoppers go about their business at the Al Wahda Mall in Abu Dhabi on Thursday, Jan. 3, 2013.  The mall recently opened a large extension. 
Silvia Razgova/The National
More than 4,400 people complained about a business or service in the first five of the months of the year alone, according to the Department of Economic Development.

Consumers in Dubai more aware of their rights, say the people who receive their complaints



DUBAI// More than 4,400 people contacted the Dubai Department of Economic Development in the first five months of this year to complain about a business or service.

Although high, the number of complaints is a sign that more consumers are becoming aware of their rights, say bosses, who received almost 8,800 calls in the whole of 2012.

"There has been a significant increase in the number of complaints received and the increase is mainly due to the continuous awareness campaigns being conducted for both retailers and consumers," said Omar Bushahab, chief executive of the Commercial Compliance and Consumer Protection Sector, which deals with complaints at the Department of Economic Development (DED).

An extensive awareness campaign was launched by the DED in 2010 with notices placed at checkouts informing shoppers who to contact if they needed to complain.

"We have seen that the various campaigns aimed to spread consumer rights awareness across Dubai have resulted in better understanding of the duties and responsibilities of consumers as well as retailers," said Mr Bushabab.

Although the majority of complaints are genuine, some are less serious than others. However, consumer protection officials are committed to investigating every complaint they receive, said Mr Bushabab.

In 2011, the total number of complaints received was 6,902. That increased to 8,776 in 2012 with 4,460 complaints received up to May this year.

A number of campaigns are being launched by the DED during Ramadan.

"We organise various campaigns and maintain a strong vigil in the run-up to Ramadan and during the Holy Month to ensure that consumer rights are protected and cordial relations exist between retailers and consumers," he said.

"For example, inspectors have already toured all major markets in Dubai including the cattle market and the fruit and vegetable market to check the prices of essential goods.

"We have also distributed more than 5,000 display boards to list prices soconsumers are better-informed and protected from unjustified increases. We work with traders and buyers and take suggestions and complaints from both parties."

The DED is also working closely with the police as part of ongoing operations to target fake goods. "Wherever required, we obtain permission from the police before seizing suspected counterfeit or pirated goods," said Mr Bushabab.

"We also work with the police exchanging information and experiences with them and contributing effectively towards combating counterfeiting."

Under federal law, suppliers can face fines of between Dh1,000 and Dh1 million if they advertise damaged goods for sale or fail to add product information on packaging.

Consumers have the right to a refund or have a product exchanged if it is faulty or does not work as advertised.

However, some consumers feel more could be done. "We should have one single rule for everyone regarding refunds and exchanges," said Ismail Farooqi, from Canada.

"The problem at the moment is that different shops have different rules, so as a consumer you can't always get a refund or if you do you can only spend it in the shop.

"It would be better if we had one rule and that way everyone knows where they stand."

Mohammed Ashfaq, from India agreed, saying he stopped buying from some retailers due to their refund policies.

"I don't think it's fair that some shops force you to then spend money in their shop again if you ask for a refund. It's like trapping you into shopping with them."

For more information visit www.consumerrights.ae or call the consumer complaints hotline on 600 545555.

nhanif@thenational.ae

COMPANY PROFILE

Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

The biog

Favourite food: Fish and seafood

Favourite hobby: Socialising with friends

Favourite quote: You only get out what you put in!

Favourite country to visit: Italy

Favourite film: Lock Stock and Two Smoking Barrels.

Family: We all have one!

The five pillars of Islam
Specs: 2024 McLaren Artura Spider

Engine: 3.0-litre twin-turbo V6 and electric motor
Max power: 700hp at 7,500rpm
Max torque: 720Nm at 2,250rpm
Transmission: Eight-speed dual-clutch auto
0-100km/h: 3.0sec
Top speed: 330kph
Price: From Dh1.14 million ($311,000)
On sale: Now

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat

UAE currency: the story behind the money in your pockets
Liverpool 4-1 Shrewsbury

Liverpool
Gordon (34'), Fabinho (44' pen, 90'+3), Firmino (78')

Shrewsbury
Udoh (27'minutes)

Man of the Match: Kaide Gordon (Liverpool)

Results

4pm: Maiden (Dirt) Dh165,000 1,600m
Winner: Moshaher, Pat Dobbs (jockey), Doug Watson (trainer).

4.35pm: Handicap (D) Dh165,000 2,200m
Winner: Heraldic, Richard Mullen, Satish Seemar.

5.10pm: Maiden (Turf) Dh165,000 1,600m
Winner: Rua Augusta, Harry Bentley, Ahmad bin Harmash.

5.45pm: Handicap (D) Dh190,000 1,200m
Winner: Private’s Cove, Mickael Barzalona, Sandeep Jadhav.

6.20pm: Handicap (T) Dh190,000 1,600m
Winner: Azmaam, Jim Crowley, Musabah Al Muhairi.

6.55pm: Handicap (D) Dh190,000 1,400m
Winner: Bochart, Richard Mullen, Satish Seemar.

7.30pm: Handicap (T) Dh190,000 2,000m
Winner: Rio Tigre, Mickael Barzalona, Sandeep Jadhav.

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.” 

BACK TO ALEXANDRIA

Director: Tamer Ruggli

Starring: Nadine Labaki, Fanny Ardant

Rating: 3.5/5

MATCH INFO

Uefa Nations League

League A, Group 4
Spain v England, 10.45pm (UAE)

BLACKBERRY

Director: Matt Johnson

Stars: Jay Baruchel, Glenn Howerton, Matt Johnson

Rating: 4/5

Company profile

Company name: Xare 

Started: January 18, 2021 

Founders: Padmini Gupta, Milind Singh, Mandeep Singh 

Based: Dubai 

Sector: FinTech 

Funds Raised: $10 million 

Current number of staff: 28 

Investment stage: undisclosed

Investors: MS&AD Ventures, Middle East Venture Partners, Astra Amco, the Dubai International Financial Centre, Fintech Fund, 500 Startups, Khwarizmi Ventures, and Phoenician Funds

Leaderboard

63 - Mike Lorenzo-Vera (FRA)

64 - Rory McIlroy (NIR)

66 - Jon Rahm (ESP)

67 - Tom Lewis (ENG), Tommy Fleetwood (ENG)

68 - Rafael Cabrera-Bello (ESP), Marcus Kinhult (SWE)

69 - Justin Rose (ENG), Thomas Detry (BEL), Francesco Molinari (ITA), Danny Willett (ENG), Li Haotong (CHN), Matthias Schwab (AUT)

Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

Company profile

Name: Elggo
Started: August 2022
Founders: Luma Makari and Mirna Mneimneh
Based: Dubai, UAE
Sector: Education technology / health technology
Size: Four employees
Investment stage: Pre-seed

War

Director: Siddharth Anand

Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor

Rating: Two out of five stars 

SCORES IN BRIEF

Lahore Qalandars 186 for 4 in 19.4 overs
(Sohail 100,Phil Salt 37 not out, Bilal Irshad 30, Josh Poysden 2-26)
bt Yorkshire Vikings 184 for 5 in 20 overs
(Jonathan Tattersall 36, Harry Brook 37, Gary Ballance 33, Adam Lyth 32, Shaheen Afridi 2-36).

HEY MERCEDES, WHAT CAN YOU DO FOR ME?

Mercedes-Benz's MBUX digital voice assistant, Hey Mercedes, allows users to set up commands for:

• Navigation

• Calls

• In-car climate

• Ambient lighting

• Media controls

• Driver assistance

• General inquiries such as motor data, fuel consumption and next service schedule, and even funny questions

There's also a hidden feature: pressing and holding the voice command button on the steering wheel activates the voice assistant on a connected smartphone – Siri on Apple's iOS or Google Assistant on Android – enabling a user to command the car even without Apple CarPlay or Android Auto

Company Profile

Name: Takestep
Started: March 2018
Founders: Mohamed Khashaba, Mohamed Abdallah, Mohamed Adel Wafiq and Ayman Taha
Based: Cairo, Egypt
Sector: health technology
Employees: 11 full time and 22 part time
Investment stage: pre-Series A

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Company Profile

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

STAY, DAUGHTER

Author: Yasmin Azad

Publisher: Swift Press

Available: Now

Match info

Newcastle United 1
Joselu (11')

Tottenham Hotspur 2
Vertonghen (8'), Alli (18')

China and the UAE agree comprehensive strategic partnership

China and the UAE forged even closer links between the two countries during the landmark state visit after finalising a ten-point agreement on a range of issues, from international affairs to the economy and trade and renewable energy.

1. Politics: The two countries agreed to support each other on issues of security and to work together on regional and international challenges. The nations also confirmed that the number of high-level state visits between China and the UAE will increase.

2. Economy: The UAE offers its full support to China's Belt and Road Initiative, which will combine a land 'economic belt" and a "maritime silk road" that will link China with the Arabian Gulf as well as Southeast, South and Central China, North Africa and, eventually, Europe. 

3. Business and innovation: The two nations are committed to exploring new partnerships in sectors such as Artificial Intelligence, energy, the aviation and transport industries and have vowed to build economic co-operation through the UAE-China Business Committee.

4. Education, science and technology: The Partnership Programme between Arab countries in Science and Technology will encourage young Emirati scientists to conduct research in China, while the nations will work together on the peaceful use of nuclear energy, renewable energy and space projects. 

5. Renewable energy and water: The two countries will partner to develop renewable energy schemes and work to reduce climate change. The nations have also reiterated their support for the Abu Dhabi-based International Renewable Energy Agency.

6. Oil and gas: The UAE and China will work in partnership in the crude oil trade and the exploration and development of oil and natural gas resources.

7. Military and law enforcement and security fields: Joint training will take place between the Chinese and UAE armed forces, while the two nations will step up efforts to combat terrorism and organised crime. 

8. Culture and humanitarian issues: Joint cultural projects will be developed and partnerships will be cultivated on the preservation of heritage, contemporary art and tourism. 

9. Movement between countries: China and the UAE made clear their intent to encourage travel between the countries through a wide-ranging visa waiver agreement.

10. Implementing the strategic partnership: The Intergovernmental Co-operation Committee, established last year, will be used to ensure the objectives of the partnership are implemented.

 

 

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