Aiden Aslin, a British fighter captured in the Ukrainian city of Mariupol by Russian troops. Reuters
Aiden Aslin, a British fighter captured in the Ukrainian city of Mariupol by Russian troops. Reuters
Aiden Aslin, a British fighter captured in the Ukrainian city of Mariupol by Russian troops. Reuters
Aiden Aslin, a British fighter captured in the Ukrainian city of Mariupol by Russian troops. Reuters

Aiden Aslin: family of Briton captured by Russian troops in Ukraine plead for his return


Soraya Ebrahimi
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The family of a British fighter captured by Russian troops in Ukraine have thanked supporters as he faces charges that could carry a death penalty.

Aiden Aslin is one of three men accused of being mercenaries for Ukraine and his family have said they are working with the UK Foreign Office and Ukrainian government to get him home.

The family released a statement through the Foreign Office, describing Mr Aslin as a “much-loved man and very much missed”.

The president of Ukraine’s separatist Donetsk People’s Republic said the region’s supreme court was opening the trial of the three Britons.

Mr Aslin, 28, and one of his co-accused, Shaun Pinner, 48, had appeared in the dock in the pro-Russian territory, the BBC reported on Tuesday.

If the men are convicted of the charges, which include trying to “seize power”, it is feared that the court, which is not internationally recognised, could pass the death penalty.

  • British citizens Aiden Aslin, left, and Shaun Pinner, right, and Moroccan Saaudun Brahim, centre, sit behind bars in a courtroom in the breakaway eastern Ukrainian enclave of Donetsk. The three were sentenced to death by pro-Moscow rebels for fighting on Ukraine's side. AP
    British citizens Aiden Aslin, left, and Shaun Pinner, right, and Moroccan Saaudun Brahim, centre, sit behind bars in a courtroom in the breakaway eastern Ukrainian enclave of Donetsk. The three were sentenced to death by pro-Moscow rebels for fighting on Ukraine's side. AP
  • A Ukrainian soldier fires a machine gun near the town of New York in the breakaway Donetsk enclave. Reuters
    A Ukrainian soldier fires a machine gun near the town of New York in the breakaway Donetsk enclave. Reuters
  • The gutted remains of cars lie along a road during heavy fighting in Severodonetsk. AP
    The gutted remains of cars lie along a road during heavy fighting in Severodonetsk. AP
  • Ukrainian soldiers ride an armoured vehicle near the city of Bakhmut, in the breakaway Donetsk enclave. EPA
    Ukrainian soldiers ride an armoured vehicle near the city of Bakhmut, in the breakaway Donetsk enclave. EPA
  • Ukrainian soldiers and members of civilian demining organisations take part in a training exercise for bomb disposal experts in Peja, Kosovo. Getty
    Ukrainian soldiers and members of civilian demining organisations take part in a training exercise for bomb disposal experts in Peja, Kosovo. Getty
  • Volunteers clear debris near a damaged shopping mall after night shelling in Kharkiv, Ukraine. EPA
    Volunteers clear debris near a damaged shopping mall after night shelling in Kharkiv, Ukraine. EPA
  • A man walks past a college on fire after a strike in Lysychansk in the eastern Ukrainian region of Donbas. AFP
    A man walks past a college on fire after a strike in Lysychansk in the eastern Ukrainian region of Donbas. AFP
  • Ukrainian service members near the town of Soledar. Reuters
    Ukrainian service members near the town of Soledar. Reuters
  • Ukrainian President Volodymyr Zelenskyy in Kyiv. AFP
    Ukrainian President Volodymyr Zelenskyy in Kyiv. AFP
  • Residents kneel during a funeral procession for senior lieutenant Vasyl Herych, 31, of the 15th Separate Mountain Assault Battalion, who was killed in Perechyn, Ukraine. Reuters
    Residents kneel during a funeral procession for senior lieutenant Vasyl Herych, 31, of the 15th Separate Mountain Assault Battalion, who was killed in Perechyn, Ukraine. Reuters
  • People hide in a bomb shelter in the city of Lysychansk in the Donbas region. AFP
    People hide in a bomb shelter in the city of Lysychansk in the Donbas region. AFP
  • Ivan Sosnin, 19, surveys the damage to his home in Lysychansk. AFP
    Ivan Sosnin, 19, surveys the damage to his home in Lysychansk. AFP
  • Ukrainian troops repair a tank in the Donbas region. AFP
    Ukrainian troops repair a tank in the Donbas region. AFP
  • Ukrainian troops fire rockets towards Russian positions at a front line in the Donbas region. AFP
    Ukrainian troops fire rockets towards Russian positions at a front line in the Donbas region. AFP
  • Volunteers from a Danish NGO demonstrate how to search for explosive devices with help of a loop metal detector, outside the town of Ichnia in Ukraine. Reuters
    Volunteers from a Danish NGO demonstrate how to search for explosive devices with help of a loop metal detector, outside the town of Ichnia in Ukraine. Reuters
  • A firefighter takes a break after putting out a fire at a house in a district of Kharkiv that was bombed by Russian forces. Reuters
    A firefighter takes a break after putting out a fire at a house in a district of Kharkiv that was bombed by Russian forces. Reuters
  • Plumes of smoke rise from a house on fire after a military strike by Russian forces in Kharkiv. Reuters
    Plumes of smoke rise from a house on fire after a military strike by Russian forces in Kharkiv. Reuters
  • The damaged house of Inna Bobryntseva, a woman who died during Russian shelling, in Kharkiv. Ukrainian officials exhumed her body from her backyard as part of an investigation into war crimes. Reuters
    The damaged house of Inna Bobryntseva, a woman who died during Russian shelling, in Kharkiv. Ukrainian officials exhumed her body from her backyard as part of an investigation into war crimes. Reuters
  • A man moves items from a damaged shop in Kharkiv after a Russian military strike the night before. Reuters
    A man moves items from a damaged shop in Kharkiv after a Russian military strike the night before. Reuters
  • Civilian militia men hold shotguns during training at a shooting range on the outskirts of Kyiv, Ukraine. AFP
    Civilian militia men hold shotguns during training at a shooting range on the outskirts of Kyiv, Ukraine. AFP
  • A woman walks by a destroyed apartment building in the town of Borodyanka. AFP
    A woman walks by a destroyed apartment building in the town of Borodyanka. AFP
  • Rescuers dismantle collapsing structures of a heavily damaged 16-storey residential building in the Saltivka district of Kharkiv. AFP
    Rescuers dismantle collapsing structures of a heavily damaged 16-storey residential building in the Saltivka district of Kharkiv. AFP
  • A Ukrainian bomb disposal worker carries unexploded ordnance during mine clearance work in the village of Yahidne, in the liberated territories of the Chernihiv region. AFP
    A Ukrainian bomb disposal worker carries unexploded ordnance during mine clearance work in the village of Yahidne, in the liberated territories of the Chernihiv region. AFP
  • Ukrainian President Volodymyr Zelenskyy, centre, visits the military during a trip to the Zaporizhzhia region. AFP
    Ukrainian President Volodymyr Zelenskyy, centre, visits the military during a trip to the Zaporizhzhia region. AFP
  • Ukrainian service members fire a shell from a M777 Howitzer in the Donetsk region as Russia's attack on Ukraine continues. Reuters
    Ukrainian service members fire a shell from a M777 Howitzer in the Donetsk region as Russia's attack on Ukraine continues. Reuters
  • Ukrainian servicemen manoeuvre a tank near the frontline in the Donetsk region. AP Photo
    Ukrainian servicemen manoeuvre a tank near the frontline in the Donetsk region. AP Photo
  • The remains of the Darnytsia Car Repair Plant damaged by missile strikes in Kyiv. EPA
    The remains of the Darnytsia Car Repair Plant damaged by missile strikes in Kyiv. EPA
  • A couple embrace on Maidan square in Kyiv. AP Photo
    A couple embrace on Maidan square in Kyiv. AP Photo
  • Smoke rises from a residential area in Kyiv. Mayor Vitali Klitschko said several explosions occurred following missile strikes in the Darnytskyi and Dniprovskyi districts of the capital with no casualties reported. EPA
    Smoke rises from a residential area in Kyiv. Mayor Vitali Klitschko said several explosions occurred following missile strikes in the Darnytskyi and Dniprovskyi districts of the capital with no casualties reported. EPA
  • A woman holds a poster showing Russian President Vladimir Putin during a protest against the war in Ukraine at the Brandenburg Gate in Berlin. AP
    A woman holds a poster showing Russian President Vladimir Putin during a protest against the war in Ukraine at the Brandenburg Gate in Berlin. AP
  • Smoke rises in the background after Russian missile strikes in Kyiv. AP
    Smoke rises in the background after Russian missile strikes in Kyiv. AP
  • A Ukrainian serviceman pauses before going back to the frontline in the Donetsk region of eastern Ukraine. AP
    A Ukrainian serviceman pauses before going back to the frontline in the Donetsk region of eastern Ukraine. AP
  • Firefighters dampen down a rail facility in the Darnytsia district of Kyiv after a Russian air strike. EPA
    Firefighters dampen down a rail facility in the Darnytsia district of Kyiv after a Russian air strike. EPA
  • An elderly woman sits in front of destroyed houses after a missile strike, which killed a civilian, in the city of Druzhkivka in the eastern Ukrainian region of Donbas. AFP
    An elderly woman sits in front of destroyed houses after a missile strike, which killed a civilian, in the city of Druzhkivka in the eastern Ukrainian region of Donbas. AFP
  • A man examines an apartment destroyed during shelling in Donetsk, eastern Ukraine. Five civilians were killed and 20 were injured. EPA
    A man examines an apartment destroyed during shelling in Donetsk, eastern Ukraine. Five civilians were killed and 20 were injured. EPA
  • Residents examine cars destroyed during shelling in Donetsk. EPA
    Residents examine cars destroyed during shelling in Donetsk. EPA
  • Civilians are evacuated from apartments destroyed during shelling in Donetsk. EPA
    Civilians are evacuated from apartments destroyed during shelling in Donetsk. EPA
  • A man looks on as smoke rises after explosions were heard in Kyiv. Reuters
    A man looks on as smoke rises after explosions were heard in Kyiv. Reuters
  • Residents chat in front of a destroyed building in Borodianka, as Russia's attacks on Ukraine continue. Reuters
    Residents chat in front of a destroyed building in Borodianka, as Russia's attacks on Ukraine continue. Reuters
  • A monument to Ukrainian poet Taras Shevchenko, damaged by shelling in Borodianka. Reuters
    A monument to Ukrainian poet Taras Shevchenko, damaged by shelling in Borodianka. Reuters
  • Men scavenge a burnt Russian military vehicle for parts and scrap metal in Novyi Bykiv. Getty
    Men scavenge a burnt Russian military vehicle for parts and scrap metal in Novyi Bykiv. Getty
  • A crater and a destroyed building after a rocket attack on a small airfield near Kharkiv. EPA
    A crater and a destroyed building after a rocket attack on a small airfield near Kharkiv. EPA
  • Ukrainian howitzers in action at an undisclosed location. AFP
    Ukrainian howitzers in action at an undisclosed location. AFP
  • A girl rides a scooter past a destroyed building in the village of Horenka, Kyiv. AFP
    A girl rides a scooter past a destroyed building in the village of Horenka, Kyiv. AFP
  • Pope Francis hugs a child during a meeting at the Vatican with children with disabilities and Ukrainian children who fled their country. Reuters
    Pope Francis hugs a child during a meeting at the Vatican with children with disabilities and Ukrainian children who fled their country. Reuters
  • Ukrainian emergency works at a damaged building following shelling in Kharkiv. AP
    Ukrainian emergency works at a damaged building following shelling in Kharkiv. AP
  • Members of a medical rescue team gather inside their temporary base in the Donetsk region of eastern Ukraine. AP
    Members of a medical rescue team gather inside their temporary base in the Donetsk region of eastern Ukraine. AP
  • A woman sits at a destroyed bus station in the city of Mariupol. AFP
    A woman sits at a destroyed bus station in the city of Mariupol. AFP
  • Residents are evacuated from Slovyansk, eastern Ukraine. AP
    Residents are evacuated from Slovyansk, eastern Ukraine. AP

They were both members of regular Ukrainian military units in Mariupol. The affiliation of a third British man, Andrew Hill, who was captured in the Mykolaiv area, is unclear.

Footage emerged on Tuesday of three men — reported to be Mr Aslin, Mr Pinner and Moroccan national Saaudun Brahim — in what appears to be a court dock.

They spoke only to confirm they were aware of the charges they faced and said they consented to their case proceeding without witness evidence, the BBC reported.

Separatist president Denis Pushilin on Monday claimed “the crimes they committed were monstrous”, according to separatist news agency Dan.

“We, the family of Aiden Aslin, wish to ask for privacy at this time from the media," his relatives said on Tuesday.

“This is a very sensitive and emotional time for our family, and we would like to say thank you to all that have supported us.

“We are currently working with the Ukrainian government and the Foreign Office to try and bring Aiden home. Aiden is a much-loved man and very much missed, and we hope that he will be released very soon.”

UK Justice Secretary Dominic Raab has said the Foreign Office will “make all the representations” on Mr Aslin’s behalf.

“In relation to that case, I don’t know all the details, but of course we would expect the laws of armed conflict to be respected and we will make sure that we will make all the representations," Mr Raab told LBC on Monday.

“I know the Foreign Office will be looking at making sure all those representations are made.”

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

5 of the most-popular Airbnb locations in Dubai

Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:

• Dubai Marina

The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.

Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739 
Two bedroom: Dh627 to Dh960 
Three bedroom: Dh721 to Dh1,104

• Downtown

Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure.  “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."

Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154

• City Walk

The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena.  “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”

Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809 
Two bedroom: Dh682 to Dh1,052 
Three bedroom: Dh784 to Dh1,210 

• Jumeirah Lake Towers

Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.

Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629 
Two bedroom: Dh549 to Dh818 
Three bedroom: Dh631 to Dh941

• Palm Jumeirah

Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.

Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770 
Two bedroom: Dh654 to Dh1,002 
Three bedroom: Dh752 to Dh1,152 

The Specs:

The Specs:

Engine: 2.9-litre, V6 twin-turbo

Transmission: 8-speed automatic

Power: 444bhp

Torque: 600Nm

Price: AED 356,580 incl VAT

On sale: now.

Nayanthara: Beyond The Fairy Tale

Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni

Director: Amith Krishnan

Rating: 3.5/5

MATCH INFO

Newcastle United 1 (Carroll 82')

Leicester City 2 (Maddison 55', Tielemans 72')

Man of the match James Maddison (Leicester)

THE SPECS

Engine: 1.6-litre turbo

Transmission: six-speed automatic

Power: 165hp

Torque: 240Nm

Price: From Dh89,000 (Enjoy), Dh99,900 (Innovation)

On sale: Now

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Sunday:
GP3 race: 12:10pm
Formula 2 race: 1:35pm
Formula 1 race: 5:10pm
Performance: Guns N' Roses

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
MATCH INFO

What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany

Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Expert advice

“Join in with a group like Cycle Safe Dubai or TrainYAS, where you’ll meet like-minded people and always have support on hand.”

Stewart Howison, co-founder of Cycle Safe Dubai and owner of Revolution Cycles

“When you sweat a lot, you lose a lot of salt and other electrolytes from your body. If your electrolytes drop enough, you will be at risk of cramping. To prevent salt deficiency, simply add an electrolyte mix to your water.”

Cornelia Gloor, head of RAK Hospital’s Rehabilitation and Physiotherapy Centre 

“Don’t make the mistake of thinking you can ride as fast or as far during the summer as you do in cooler weather. The heat will make you expend more energy to maintain a speed that might normally be comfortable, so pace yourself when riding during the hotter parts of the day.”

Chandrashekar Nandi, physiotherapist at Burjeel Hospital in Dubai
 

Manchester City transfers:

OUTS
Pablo Zabaleta, Bacary Sagna, Gael Clichy, Willy Caballero and Jesus Navas (all released)

INS
Ederson (Benfica) £34.7m, Bernardo Silva (Monaco) £43m 

ON THEIR WAY OUT?
Joe Hart, Eliaquim Mangala, Samir Nasri, Wilfried Bony, Fabian Delph, Nolito and Kelechi Iheanacho

ON THEIR WAY IN?
Dani Alves (Juventus), Alexis Sanchez (Arsenal)
 

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
Stree

Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
Cast: Rajkummar Rao, Shraddha Kapoor, Pankaj Tripathi, Aparshakti Khurana, Abhishek Banerjee
Rating: 3.5

The specs: 2018 Nissan Altima


Price, base / as tested: Dh78,000 / Dh97,650

Engine: 2.5-litre in-line four-cylinder

Power: 182hp @ 6,000rpm

Torque: 244Nm @ 4,000rpm

Transmission: Continuously variable tranmission

Fuel consumption, combined: 7.6L / 100km

Pakistan T20 series squad

Sarfraz Ahmed (captain), Fakhar Zaman, Ahmed Shahzad, Babar Azam, Shoaib Malik, Mohammed Hafeez, Imad Wasim, Shadab Khan, Mohammed Nawaz, Faheem Ashraf, Hasan Ali, Amir Yamin, Mohammed Amir (subject to fitness clearance), Rumman Raees, Usman Shinwari, Umar Amin

While you're here
UAE currency: the story behind the money in your pockets

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.”

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

Profile of VoucherSkout

Date of launch: November 2016

Founder: David Tobias

Based: Jumeirah Lake Towers

Sector: Technology

Size: 18 employees

Stage: Embarking on a Series A round to raise $5 million in the first quarter of 2019 with a 20 per cent stake

Investors: Seed round was self-funded with “millions of dollars” 

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Updated: June 08, 2022, 5:44 AM