Expo 2020 is set to drive business in Dubai into a new era that will see the city undergo “another big paradigm shift”, a senior executive with Dubai Chamber has said.
Tourist numbers will also see a sharp rise, with Dubai Tourism already seeing “steady growth” in visitors.
While previous world's fairs have been a window to the future, displaying innovations and inventions, many countries see Expo 2020 Dubai as an opportunity to reconnect with the world, post-pandemic.
Nestled among the bright lights of buildings of all shapes and sizes at Expo 2020 lies the Dubai Conference Centre that will be the centre for all things business at the South Dubai site.
We're starting to see a wave really build up
Omar Khan,
Dubai Chamber
It’s the conversations here, and among the myriad pavilions, that will make Expo “the world's largest brainstorming session”, according to Omar Khan, director of international offices at Dubai Chamber.
He said there is a lot of excitement about what the next six months will mean to the local business community.
“We're starting to see a wave really build up very soon. There's going to be a lot happening in Expo and in Dubai and the UAE in general,” Mr Khan said.
“I really do believe that there are going to be some unexpected positive results coming. You know, when you put the best minds together, sometimes it gets very surprising effects and then it snowballs.”
Business confidence growing
Business conditions in Dubai have been improving. The economy is forecast to expand 3.1 per cent in 2021, with Expo singled out as one of the main drivers.
Confidence among businesses in the city is also on the rise.
Dubai Chamber’s own survey this summer found that companies in the city expect business conditions to improve in the third quarter of 2021 as investor confidence grows before Expo 2020.
Mr Khan said the coming months will involve a large amount of Expo-related business activity.
“I believe that when Expo comes, I think there's going to be a big uplift [in business]. There’s going to be deals signed, and negotiations and bargains that would not have happened [without Expo],” he said.
“There's going to be a big mind meld here, and I think the results are going to be very surprising. One success story is going to become five success stories, and it’s going to pick up and there will be more and more.”
The business confidence is reflected in the recruitment drives announced by some of the UAE’s largest employers.
Online retailer Amazon announced plans to create 1,500 jobs in the UAE this year, while Emirates airline said it plans to recruit 3,000 cabin crew and 500 airport services employees in the next six months.
Steady influx of visitors
Emirates, which has headquarters in Dubai, is looking to increase its operations to cater for recovering travel demand.
“We predict large volumes of traffic during the Expo 2020 Dubai period, and forward bookings are looking very encouraging,” an Emirates representative told The National.
“We are responding to increased demand through the ramp up of our operations across the network.”
The airline, which operates 71 direct flights to the 191 countries that have confirmed participation in Expo 2020, expects further growth.
“We expect that the Expo will provide an even bigger boost to visitor numbers, and it is definitely the highlight for destination Dubai for the remainder of 2021 until April 2022,” the representative said.
“The Expo team, Emirates and all travel and tourism stakeholders have worked hard to promote this mega event and make it the focal point for accelerating the world’s post-pandemic recovery.”
Dubai has seen a steady influx of visitors since it reopened to tourists in July 2020.
Figures released this month revealed the emirate welcomed 2.85 million visitors in the first half of 2021, with numbers predicted to rise in the fourth quarter, boosted by both Expo 2020 Dubai and the UAE’s Golden Jubilee celebrations.
Dubai Tourism chief executive, Issam Kazim, said Expo will help reinforce Dubai’s position as an international centre for tourism, retail, events, business and finance as it continues to overcome the pandemic.
“As the host city for this milestone event, which marks a turning point for the post-pandemic world, it is noteworthy that our domestic stakeholders and international network of partners have played a pivotal role in our tourism recovery, leading to the reopening of the city, the restart of the events sector and the city safely welcoming a steady growth in visitors,” Mr Kazim told The National.
“Expo 2020 will help harness and build on this momentum, along with UAE’s Golden Jubilee celebrations, throughout this landmark year and beyond.”
Mr Kazim said the six-month event was an opportunity to demonstrate the best of Dubai.
“Dubai is now presented with a once-in-a-lifetime opportunity to showcase to a global audience its multifaceted destination propositions, its unparalleled generosity and true Arabian hospitality that makes it so unique and attractive for people from all over the world,” he said.
Build your brand in Dubai
Suresh Kumar, chairman of Indian Business and Professional Council, estimated that a minimum of three million visitors would come from India to Expo 2020 Dubai.
“The interest levels we’re seeing would suggest at least a few million visitors during the course of Expo from India,” Mr Kumar told The National.
He said he expects Expo to open up more opportunities for Indian businesses in Dubai, which he said would "reach out to other parts of the world to extend their businesses”.
“For instance, many of the Indian businesses from a supply chain perspective find it efficient to domicile their last mile production and last-mile delivery capabilities outside India, in a location which has excellent logistics infrastructure, and Dubai and the UAE qualify by a big margin,” he said.
Adrian Costigan, British Business Group’s lead for Expo, said there was a “large buzz among the British community in Dubai” about Expo.
After the recent announcements by the UK government to ease travel between the countries, he expects a sharp rise in visitors
“We are expecting significant inflows of UK visitors over the coming months for business and winter sun holidays. They will also take in a trip to Expo events and gatherings,” Mr Costigan told The National.
“Expo has a key role to play as a booster for UK inward tourism. All of the UK tourism organisations are well represented across the programme at the British pavilion.
“It will be difficult for visitors experiencing the storytelling of some of the new aspects of the UK’s personality and the visual impact of landscape and emotion not the plan a trip to the UK in the future.”
More than 6,000 UK companies have operations in the UAE, while large number of British own local businesses in the UAE.
Mr Costigan, who is managing director for the Middle East at A-Safe, said Covid, and the subsequent lockdowns in the UK, prompted more British businesspeople to look to expand to the UAE or relocate.
He believes Expo will grow that number even further.
“There has already been an increase in new British business setups here in the past year,” he said.
“Expo will be a catalyst for further meeting of minds, entrepreneurship and investment both in Dubai and the wider region, consequently creating opportunities for British businesses, British ingenuity and British brain power to relocate and base themselves here.”
Post-Expo, Omar Kahn said there would be a “big paradigm shift again in Dubai”, likening it to a caterpillar turning into a butterfly.
“I think Dubai is going to be much more agile, probably 10 times more cosmopolitan and it’s going to have a lot of young people,” he said.
“We’re looking at bringing in 50 multinationals in the coming few years, ones that have never been here before – and to internationalise at least 200 of our local companies.
“Our message is come to Dubai, build your brand. It’s not an easy place, it’s competitive, but it’s a very good, professional place with the right mentality. And then from here, showcase your success and we will help you make it international.”
Frankenstein in Baghdad
Ahmed Saadawi
Penguin Press
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Top investing tips for UAE residents in 2021
Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.
Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.
Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.
Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.
Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.
Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.
Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”
Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI.
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COMPANY PROFILE
● Company: Bidzi
● Started: 2024
● Founders: Akshay Dosaj and Asif Rashid
● Based: Dubai, UAE
● Industry: M&A
● Funding size: Bootstrapped
● No of employees: Nine
Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
Graduated from the American University of Sharjah
She is the eldest of three brothers and two sisters
Has helped solve 15 cases of electric shocks
Enjoys travelling, reading and horse riding
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Tailors and retailers miss out on back-to-school rush
Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”
A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.
“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”
The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
UAE currency: the story behind the money in your pockets
The schedule
December 5 - 23: Shooting competition, Al Dhafra Shooting Club
December 9 - 24: Handicrafts competition, from 4pm until 10pm, Heritage Souq
December 11 - 20: Dates competition, from 4pm
December 12 - 20: Sour milk competition
December 13: Falcon beauty competition
December 14 and 20: Saluki races
December 15: Arabian horse races, from 4pm
December 16 - 19: Falconry competition
December 18: Camel milk competition, from 7.30 - 9.30 am
December 20 and 21: Sheep beauty competition, from 10am
December 22: The best herd of 30 camels
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
AndhaDhun
Director: Sriram Raghavan
Producer: Matchbox Pictures, Viacom18
Cast: Ayushmann Khurrana, Tabu, Radhika Apte, Anil Dhawan
Rating: 3.5/5
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
Roger Federer's 2018 record
Australian Open Champion
Rotterdam Champion
Indian Wells Runner-up
Miami Second round
Stuttgart Champion
Halle Runner-up
Wimbledon Quarter-finals
Cincinnati Runner-up
US Open Fourth round
Shanghai Semi-finals
Basel Champion
Paris Masters Semi-finals
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Cricket World Cup League 2
UAE results
Lost to Oman by eight runs
Beat Namibia by three wickets
Lost to Oman by 12 runs
Beat Namibia by 43 runs
UAE fixtures
Free admission. All fixtures broadcast live on icc.tv
Tuesday March 15, v PNG at Sharjah Cricket Stadium
Friday March 18, v Nepal at Dubai International Stadium
Saturday March 19, v PNG at Dubai International Stadium
Monday March 21, v Nepal at Dubai International Stadium
Veil (Object Lessons)
Rafia Zakaria
Bloomsbury Academic
COMPANY%20PROFILE
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Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
!['I believe that when Expo comes, I think there's going to be a big uplift [in business],' said Omar Khan, director of International Offices at Dubai Chamber. Photo: Dubai Chamber](https://www.thenationalnews.com/resizer/v2/UR5BS5MHONA37IC5OCINDEL3KM.jpg?smart=true&auth=018394096b126f569139bdb2196cfa1e2437e8a6823ee5d6aa2caf7651206e2d&width=800&height=600)
