Hundreds of traditional dolly carts used by porters in one of the oldest districts of Dubai are to be replaced by small, modern, Uber-style pick-up trucks.
Dubai Police said the carts would be taken off the streets of Naif, and shoppers would soon be able to use licensed vehicles ordered through a mobile app.
The move will help to regulate the work of porters and prevent theft and accidents in the area, officials said.
Police recently employed new tactics to eradicate crime in the neighbourhood, including the recent introduction of a plainclothes police unit.
Some men overstaying their visas work as porters. They sometimes steal a box or two from goods they are carrying, thinking no one will notice
Hundreds of shops selling goods such as spices, carpets and clothing are spread across Naif, and many owners use the services of porters for as little as Dh30 ($8).
"Some men overstaying their visas work as porters. They sometimes steal a box or two from goods they are carrying, thinking no one will notice," said Col Omar Ashour, deputy head of Naif police station.
“The proposal suggests replacing carts with vehicles that look like small pick-up trucks that can be ordered through a dedicated app.
"Each will have to be registered and carry a number plate to help track its route."
Crime is rare in Dubai, Abu Dhabi and Sharjah – three of the 10 safest cities in the world – but police said that, inevitably, opportunistic thefts happen.
A Dubai Police bike unit was launched about five years ago to reduce incidents involving porters.
Authorities handled 354 cases of theft and accidents in the area in the first three months of this year, compared with 676 last year.
“Random moving of goods on dolly carts has caused congestion, accidents and thefts, but since we launched our bikers unit, these problems dropped significantly,” Col Ashour said.
“We have seen a remarkable decline in the number of all types of reports, from 3,223 between January and March last year to 1,877 the same period this year."
The police also launched its Compass Team, which has 17 undercover officers in Naif to monitor the area.
Col Ashour said the team had helped to reduce the level of petty crime, including theft, by 75 per cent.
A six-member team to study trends and suggest solutions was also formed.
“This team examines reports to figure out reasons behind crimes, then comes up with ways to reduce them,” Col Ashour said.
“For example, the team examined reports about thefts from shops. They narrowed down the reasons behind these thefts to shops hiring people on visit visas.”
An awareness campaign was launched with help from the infiltrators department after the team reported their findings.
The drive educated shop owners about the dangers of hiring illegal workers and also helped to reduce crime.
Shop owners in the neighbourhood said they were now more vigilant regarding illegal porters.
Mohammed Naseem, a salesman at a spice shop, said he always asked for a receipt from a porter.
“We always write down everything we are handing over to the porter and we each keep a copy, so we know what is being delivered,” he said.
"There are a few cases where some porters steal one little thing, but the ones who have been working here for many years are well reputed and their services are used by many shops. It's some of the newer ones who started working recently or a few years ago who steal."
Rouf Teecey, who has worked as a salesman in the area since 2006, said “most porters are reliable”, but there were a few that would have to be monitored.
He said some shop owners started to use licensed delivery services so they could track their goods.
“Many shops use porters because it is very cheap and it gets the job done, but more owners are starting to use licensed delivery companies so they feel more secure,” Mr Teecey said.
“I think if dolly carts get replaced with licensed pick-up trucks, it could offer even more security to shops here and also protect the porters.”
He said the number of workers with expired residence visas had grown slightly since the start of the Covid-19 pandemic.
He said these men started working as porters in the area to earn an income.
“These are some of the newer ones who are stealing one or two things from the goods, but the old ones are well known by many shop owners here,” he said.
Deira mosque is older than the UAE – in pictures
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EHakbah%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENaif%20AbuSaida%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ESaudi%20Arabia%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E22%20%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24200%2C000%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Epre-Series%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EGlobal%20Ventures%20and%20Aditum%20Investment%20Management%0D%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
Teri%20Baaton%20Mein%20Aisa%20Uljha%20Jiya
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20Amit%20Joshi%20and%20Aradhana%20Sah%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECast%3A%3C%2Fstrong%3E%20Shahid%20Kapoor%2C%20Kriti%20Sanon%2C%20Dharmendra%2C%20Dimple%20Kapadia%2C%20Rakesh%20Bedi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
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.”
PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani