How the system works



A man in a grey business suit walks into a textile shop in the heart of Abu Dhabi and greets the owner. Next to him is a phone and a fax machine and hundreds of numbers are scribbled on the wall over his head. Stacked around the walls of the shop are large spools of silk and cotton but the visitor is not here to buy fabric. Instead, he opens his wallet and pulls out three crisp Dh500 (US$136) notes and places them on the glass counter.

Next, he gives the shopkeeper the name of a man, a city in Pakistan and two telephone numbers. The owner repeats the details and an assistant copies them down in a ledger. The money disappears below the counter, the two shake hands and the man in the suit walks out. The owner apologises as he closes the book: "This is what we have to do to make a living," he says. The textile shop is a front for hawala, a form of money exchange that depends on trust and honour, but has been linked with terrorist financing and money laundering.

The person who wants to send money goes to a hawaladar and gives him the cash, together with the contact details of the receiver. The hawaladar telephones a counterpart in the destination country and tells him to give the same amount of money to the receiver, minus a small commission. The debt remains between the two hawaladars, who will settle it at a later date with cash or traded goods. Because there is no official record of the transaction, hawala has been used extensively to launder the proceeds of criminal enterprises.

The World Bank estimates that expatriate workers remit more than one quarter of a trillion US dollars to their home countries every year. - Gregor McClenaghan

Disturbing facts and figures

51% of parents in the UAE feel like they are failing within the first year of parenthood

57% vs 43% is the number of mothers versus the number of fathers who feel they’re failing

28% of parents believe social media adds to the pressure they feel to be perfect

55% of parents cannot relate to parenting images on social media

67% of parents wish there were more honest representations of parenting on social media

53% of parents admit they put on a brave face rather than being honest due to fear of judgment

Source: YouGov

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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

EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE

Edinburgh: November 4 (unchanged)

Bahrain: November 15 (from September 15); second daily service from January 1

Kuwait: November 15 (from September 16)

Mumbai: January 1 (from October 27)

Ahmedabad: January 1 (from October 27)

Colombo: January 2 (from January 1)

Muscat: March 1 (from December 1)

Lyon: March 1 (from December 1)

Bologna: March 1 (from December 1)

Source: Emirates

The specs: 2019 Infiniti QX50

Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)

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

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Processor: MediaTek Dimensity 7,200 Pro, 4nm, octa-core

Memory: 8/12GB

Capacity: 128/256GB

Platform: Android 14, Nothing OS 2.5

Main camera: Dual 50MP main, f/1.88 + 50MP ultra-wide, f/2.2; OIS, EIS, auto-focus, ultra XDR, night mode

Main camera video: 4K @ 30fps, full-HD @ 60fps; slo-mo full-HD at 120fps

Front camera: 32MP wide, f/2.2

Battery: 5,000mAh; 50% in 30 minutes with 45-watt charger

Connectivity: Wi-Fi, Bluetooth 5.3, NFC (Google Pay)

Biometrics: Fingerprint, face unlock

I/O: USB-C

Durability: IP54, limited protection from water/dust

Cards: Dual-nano SIM

Colours: Black, milk, white

In the box: Nothing Phone (2a), USB-C-to-USB-C cable, pre-applied screen protector, Sim tray ejector tool

Price (UAE): Dh1,199 (8GB/128GB) / Dh1,399 (12GB/256GB)


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