Death of family linked to finances



Dubai // The bodies of an Indian couple and their young daughter have been pulled from Dubai Creek, amid reports yesterday that the father had tried to kill himself earlier in a gas explosion. Police yesterday confirmed that Girish Kumar, 29, wife Shabija and their 20-month-old daughter were pulled from the water on Wednesday and that they were treating the father's death as suicide and investigating the other two. A spokesman said the family was under a heavy financial burden that had reached a critical point. Mr Kumar earned less than Dh2,000 (US$545) a month as a foreman. A friend of the couple said he had been told that the parents were tied together with their child between them when they were pulled from the water. However, police dismissed the claim. Relatives said Mr Kumar had attempted suicide at the family home in Bur Dubai before they went to the creek. "He shared the room with a Philippine family who told us that there was a gas cylinder burst early in the morning," said a relative. Neighbours told the family they saw Mr Kumar rushing out of their flat with his wife and daughter at 5am on Tuesday. "The roommates thought that he was taking them to the hospital because the wife was burnt by the blast," said the relative. Sindhu, the sister of Mr Kumar, who lives in Sharjah, said, "There is nothing left to say or do now. We have lost everything." A colleague of Mr Kumar said he was in severe financial difficulty. "Loans, credit cards and other liabilities were weighing heavily on his head," he said. "We never thought it would lead him to take such a drastic measure." Mr Kumar's brother, Manikandan, reported the disappearance of the family on Tuesday. They found the car near the creek but there were no signs of the couple. "By 4pm on Wednesday, the police called us informing us about the bodies that were found from the creek," said the relative. Another colleague of Mr Kumar described him as a "smart, helpful and cheerful" person. "He has been working here for the last eight years. He was a great boy and we never expected this to happen to him," added a colleague. "Banks always try to sell credit cards to people like us who earn just a few thousands. This is a big trap and I think Girish was a victim of this." India's consul general, Venu Rajamony, said the tragedy served to highlight the difficulties Indians can face in the UAE. He called on community groups, neighbours and employers to do more to help people with financial and emotional problems. "People in India must investigate about the realities of working abroad before they commit to any job opportunity. If they sell everything in India to come here and realise that things are not how they imagined, then they would be very disappointed." pmenon@thenational.ae

COMPANY PROFILE

Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends

Company Profile

Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000

MATCH INFO

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UAE 1 (Mabkhout 45+2')

6.30pm: Al Maktoum Challenge Round-3 Group 1 (PA) | US$95,000 | (Dirt) 2,000m
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The specs: 2018 Chevrolet Trailblazer

Price, base / as tested Dh99,000 / Dh132,000

Engine 3.6L V6

Transmission: Six-speed automatic

Power 275hp @ 6,000rpm

Torque 350Nm @ 3,700rpm

Fuel economy combined 12.2L / 100km

COMPANY PROFILE

Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures

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.

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KEY DATES IN AMAZON'S HISTORY

July 5, 1994: Jeff Bezos founds Cadabra Inc, which would later be renamed to Amazon.com, because his lawyer misheard the name as 'cadaver'. In its earliest days, the bookstore operated out of a rented garage in Bellevue, Washington

July 16, 1995: Amazon formally opens as an online bookseller. Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought becomes the first item sold on Amazon

1997: Amazon goes public at $18 a share, which has grown about 1,000 per cent at present. Its highest closing price was $197.85 on June 27, 2024

1998: Amazon acquires IMDb, its first major acquisition. It also starts selling CDs and DVDs

2000: Amazon Marketplace opens, allowing people to sell items on the website

2002: Amazon forms what would become Amazon Web Services, opening the Amazon.com platform to all developers. The cloud unit would follow in 2006

2003: Amazon turns in an annual profit of $75 million, the first time it ended a year in the black

2005: Amazon Prime is introduced, its first-ever subscription service that offered US customers free two-day shipping for $79 a year

2006: Amazon Unbox is unveiled, the company's video service that would later morph into Amazon Instant Video and, ultimately, Amazon Video

2007: Amazon's first hardware product, the Kindle e-reader, is introduced; the Fire TV and Fire Phone would come in 2014. Grocery service Amazon Fresh is also started

2009: Amazon introduces Amazon Basics, its in-house label for a variety of products

2010: The foundations for Amazon Studios were laid. Its first original streaming content debuted in 2013

2011: The Amazon Appstore for Google's Android is launched. It is still unavailable on Apple's iOS

2014: The Amazon Echo is launched, a speaker that acts as a personal digital assistant powered by Alexa

2017: Amazon acquires Whole Foods for $13.7 billion, its biggest acquisition

2018: Amazon's market cap briefly crosses the $1 trillion mark, making it, at the time, only the third company to achieve that milestone

Inside Out 2

Director: Kelsey Mann

Starring: Amy Poehler, Maya Hawke, Ayo Edebiri

Rating: 4.5/5

The specs

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Power: 640hp at 8,000rpm

Torque: 565Nm at 6,500rpm

Transmission: 7-speed dual-clutch auto

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Spider-Man 2

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Console: PlayStation 5
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Equestrian
Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).
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Cycling
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Swimming
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Athletics
Maryam Mohammed Al Farsi (women's 100 metres).

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Manchester United 1 (Fernandes pen 2') Tottenham Hotspur 6 (Ndombele 4', Son 7' & 37' Kane (30' & pen 79, Aurier 51')

Man of the match Son Heung-min (Tottenham)

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The biog

First Job: Abu Dhabi Department of Petroleum in 1974  
Current role: Chairperson of Al Maskari Holding since 2008
Career high: Regularly cited on Forbes list of 100 most powerful Arab Businesswomen
Achievement: Helped establish Al Maskari Medical Centre in 1969 in Abu Dhabi’s Western Region
Future plan: Will now concentrate on her charitable work

The Specs

Engine: 1.6-litre 4-cylinder petrol
Power: 118hp
Torque: 149Nm
Transmission: Six-speed automatic
Price: From Dh61,500
On sale: Now

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

Zakat definitions

Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.

Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.

Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.

Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.


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