A man refuels his car at a Shell gas station in Los Angeles, California. EPA
A man refuels his car at a Shell gas station in Los Angeles, California. EPA
A man refuels his car at a Shell gas station in Los Angeles, California. EPA
A man refuels his car at a Shell gas station in Los Angeles, California. EPA

Californians resigned as petrol prices skyrocket


  • English
  • Arabic

Californians filling up their cars on Friday winced at the spiralling cost of petrol, but largely shrugged as they have long dealt with the highest prices in the US.

California drivers are paying an average of more than $1.34 per litre, said the American Automobile Association (AAA), up more than a third from a year ago, as Russia's invasion of Ukraine sends world oil prices rocketing.

“I'm not really into politics or anything like that, but now that this thing is going on between Russia and Ukraine, it's just that sad,” driver Mike Hernandez told AFP.

Russian President Vladimir Putin's invasion of neighbouring Ukraine has sent financial markets into meltdown.

Prices for crude oil — the raw material for petrol — have been hit hard and are up well above $110 a barrel, with players fretting about the impact on Russian supplies, as sanctions choke Moscow off from the global economy.

While all countries have access to the same petrol, subsidies or taxes imposed locally mean the ultimate cost to consumers varies wildly.

For example, in oil-producing Nigeria, which subsidises fuel, the official price is 40 cents per litre.

In Hong Kong, drivers were already paying $2.50 per litre in 2021, Economist Intelligence Unit reported.

On average, Americans pay about $1 per litre, the AAA said, and even California's $1.34 per litre is well below the prices paid by Europeans.

  • A Ukrainian serviceman stands near captured Russian tanks, one painted in the colours of the Ukrainian national flag and the other marked with the letter 'Z' in the north of the Kharkiv region, Ukraine. Reuters
    A Ukrainian serviceman stands near captured Russian tanks, one painted in the colours of the Ukrainian national flag and the other marked with the letter 'Z' in the north of the Kharkiv region, Ukraine. Reuters
  • Russian military vehicles with the letter 'Z' painted on them. Reuters
    Russian military vehicles with the letter 'Z' painted on them. Reuters
  • French Air Force jets patrol airspace over Poland. Nicolas Tucat / AFP
    French Air Force jets patrol airspace over Poland. Nicolas Tucat / AFP
  • The patrol is part of Nato's surveillance system. Photo by Nicolas Tucat / AFP
    The patrol is part of Nato's surveillance system. Photo by Nicolas Tucat / AFP
  • The German-flagged 'Seacod' oil tanker moored at Birkenhead Docks near the Stanlow Oil Refinery in the UK.
    The German-flagged 'Seacod' oil tanker moored at Birkenhead Docks near the Stanlow Oil Refinery in the UK.
  • A woman holds the hand of a child as they flee Ukraine. AP Photo / Markus Schreiber
    A woman holds the hand of a child as they flee Ukraine. AP Photo / Markus Schreiber
  • A young woman clutches a doll as she crosses the border in Medyka, Poland. AP Photo / Markus Schreiber
    A young woman clutches a doll as she crosses the border in Medyka, Poland. AP Photo / Markus Schreiber
  • A woman weeps after finding a friend at the border crossing in Medyka. AP Photo / Markus Schreiber
    A woman weeps after finding a friend at the border crossing in Medyka. AP Photo / Markus Schreiber
  • People walk with their belongings as they flee Ukraine. AP Photo / Markus Schreiber
    People walk with their belongings as they flee Ukraine. AP Photo / Markus Schreiber
  • Ukrainian refugees arrive at Berlin central station, Germany, from Poland on March 4. EPA / Filip Singer
    Ukrainian refugees arrive at Berlin central station, Germany, from Poland on March 4. EPA / Filip Singer
  • Russian troops entered Ukraine on February 24, prompting the country's president to declare martial law and triggering a series of announcements by western countries to impose severe economic sanctions on Russia. EPA / Filip Singer
    Russian troops entered Ukraine on February 24, prompting the country's president to declare martial law and triggering a series of announcements by western countries to impose severe economic sanctions on Russia. EPA / Filip Singer
  • Military vessels docked at the military harbour of Constanta, Romania, on March 4. Daniel Mihailescu / AFP
    Military vessels docked at the military harbour of Constanta, Romania, on March 4. Daniel Mihailescu / AFP
  • A child plays with a pigeon during a protest in San Jose, Costa Rica, against the Russian invasion in Ukraine. Ezequiel Becerra / AFP
    A child plays with a pigeon during a protest in San Jose, Costa Rica, against the Russian invasion in Ukraine. Ezequiel Becerra / AFP
  • Ukrainian citizens in San Jose, Costa Rica, protest against the Russian invasion in Ukraine on March 4. Ezequiel Becerra / AFP
    Ukrainian citizens in San Jose, Costa Rica, protest against the Russian invasion in Ukraine on March 4. Ezequiel Becerra / AFP
  • People fleeing Ukraine wait to board a bus in Palanca Village, Moldova. EPA / Dumitru Doru
    People fleeing Ukraine wait to board a bus in Palanca Village, Moldova. EPA / Dumitru Doru
  • Ukrainians living in Britain join a protest at Trafalgar Square, London. EPA / Andy Rain
    Ukrainians living in Britain join a protest at Trafalgar Square, London. EPA / Andy Rain
  • Ludmila Shkarupa, 73, from Ukraine, sits on a chair wrapping herself with a sleeping bag to avoid the cold at the border crossing in Medyka, Poland. AP
    Ludmila Shkarupa, 73, from Ukraine, sits on a chair wrapping herself with a sleeping bag to avoid the cold at the border crossing in Medyka, Poland. AP
  • A view shows a thermal power plant destroyed by shelling amid the Russian invasion of Ukraine in the town of Okhtyrka in the Sumy region. Reuters
    A view shows a thermal power plant destroyed by shelling amid the Russian invasion of Ukraine in the town of Okhtyrka in the Sumy region. Reuters
  • People fleeing Russia's invasion of Ukraine use mobile devices in a temporary refugee centre located at a local track-and-field athletics stadium in Chisinau, Moldova. Reuters
    People fleeing Russia's invasion of Ukraine use mobile devices in a temporary refugee centre located at a local track-and-field athletics stadium in Chisinau, Moldova. Reuters
  • A local resident walks past the remains of a house of culture following a night air raid in the village of Byshiv, 40 kilometres west of Kyiv, Ukraine. AP
    A local resident walks past the remains of a house of culture following a night air raid in the village of Byshiv, 40 kilometres west of Kyiv, Ukraine. AP
  • A member of the Ukrainian military guards an evacuation train of women and children who fled fighting in Bucha and Irpin. Getty Images
    A member of the Ukrainian military guards an evacuation train of women and children who fled fighting in Bucha and Irpin. Getty Images
  • A member of the Ukrainian military gives instructions to women and children that fled fighting in Bucha and Irpin before boarding an evacuation train to Kyiv after heavy fighting overnight forced many to leave their homes. Getty Images
    A member of the Ukrainian military gives instructions to women and children that fled fighting in Bucha and Irpin before boarding an evacuation train to Kyiv after heavy fighting overnight forced many to leave their homes. Getty Images
  • A person demonstrates outside the Russian embassy in London following Russia's invasion of Ukraine. Reuters
    A person demonstrates outside the Russian embassy in London following Russia's invasion of Ukraine. Reuters
  • The Danish rescue group Falck A/S has donated 30 ambulances to Ukraine and neighbouring countries, where they will be used by local emergency services. AFP
    The Danish rescue group Falck A/S has donated 30 ambulances to Ukraine and neighbouring countries, where they will be used by local emergency services. AFP
  • An aerial view of the remains of the local house of culture following a night air raid in the village of Byshiv, 40 kilometres west of Kyiv, Ukraine. AP
    An aerial view of the remains of the local house of culture following a night air raid in the village of Byshiv, 40 kilometres west of Kyiv, Ukraine. AP
  • People fleeing Russia's invasion of Ukraine rest in a temporary refugee centre located at a local track-and-field athletics stadium in Chisinau, Moldova. Reuters
    People fleeing Russia's invasion of Ukraine rest in a temporary refugee centre located at a local track-and-field athletics stadium in Chisinau, Moldova. Reuters
  • Ukrainian Oleg, who decided to remain in Irpin, comforts his son, Maksim, and his wife, Yana, before the arrival of an evacuation train to the city of Kyiv. EPA
    Ukrainian Oleg, who decided to remain in Irpin, comforts his son, Maksim, and his wife, Yana, before the arrival of an evacuation train to the city of Kyiv. EPA
  • Yevghen Zbormyrsky, 49, runs in front of his burning house after being shelled in the city of Irpin, outside Kyiv. AFP
    Yevghen Zbormyrsky, 49, runs in front of his burning house after being shelled in the city of Irpin, outside Kyiv. AFP
  • People remove personal belongings from a burning house after being shelled in Irpin. AFP
    People remove personal belongings from a burning house after being shelled in Irpin. AFP
  • Medical workers tend to a Ukrainian serviceman wounded during the fighting with Russian troops near the Ukrainian capital, in a hospital in Kyiv. AFP
    Medical workers tend to a Ukrainian serviceman wounded during the fighting with Russian troops near the Ukrainian capital, in a hospital in Kyiv. AFP
  • A mother of a wounded Ukrainian serviceman waits outside his ward in a hospital in Kyiv. AFP
    A mother of a wounded Ukrainian serviceman waits outside his ward in a hospital in Kyiv. AFP
  • Refugees from Ukraine arrive at an assistance point organised in the sports hall of a primary school in Lubycza Krolewska in Poland. EPA
    Refugees from Ukraine arrive at an assistance point organised in the sports hall of a primary school in Lubycza Krolewska in Poland. EPA
  • A member of Ukraine's Territorial Defence Forces at a checkpoint in Kyiv. Reuters
    A member of Ukraine's Territorial Defence Forces at a checkpoint in Kyiv. Reuters
  • People carry their belongings past the debris of last week's combat in Kyiv. AFP
    People carry their belongings past the debris of last week's combat in Kyiv. AFP
  • Shelves in a supermarket stand empty in Bila Tserkva, Ukraine. Reuters
    Shelves in a supermarket stand empty in Bila Tserkva, Ukraine. Reuters
  • War refugees from Ukraine at the assistance point organised at the Torwar sports hall in Warsaw, Poland. EPA
    War refugees from Ukraine at the assistance point organised at the Torwar sports hall in Warsaw, Poland. EPA
  • Ukrainian servicemen, wounded during the fighting with Russian troops near the Ukrainian capital, rest outside a hospital in Kyiv. AFP
    Ukrainian servicemen, wounded during the fighting with Russian troops near the Ukrainian capital, rest outside a hospital in Kyiv. AFP
  • A 3-year-old boy watches cartoons on a tablet while his mother sews military vests for the Ukrainian army in the western city of Lviv. AFP
    A 3-year-old boy watches cartoons on a tablet while his mother sews military vests for the Ukrainian army in the western city of Lviv. AFP
  • A woman's shock as she stands in front of a house burning after being shelled in Irpin, outside Kyiv. AFP
    A woman's shock as she stands in front of a house burning after being shelled in Irpin, outside Kyiv. AFP
  • People fleeing from Ukraine queue to board on a bus at the border crossing in Medyka, Poland. AP
    People fleeing from Ukraine queue to board on a bus at the border crossing in Medyka, Poland. AP
  • Ukrainian refugees are tested for Covid-19 in a reception centre in Vienna, Austria. AFP
    Ukrainian refugees are tested for Covid-19 in a reception centre in Vienna, Austria. AFP
  • US Secretary of State Antony Blinken and Nato Secretary General Jens Stoltenberg pose with foreign ministers after a meeting at the alliance's headquarters in Brussels, Belgium. Reuters
    US Secretary of State Antony Blinken and Nato Secretary General Jens Stoltenberg pose with foreign ministers after a meeting at the alliance's headquarters in Brussels, Belgium. Reuters
  • People who fled Ukraine wait for a bus to take them to the train station in Przemysl, at the border crossing in Medyka, Poland. AP Photo
    People who fled Ukraine wait for a bus to take them to the train station in Przemysl, at the border crossing in Medyka, Poland. AP Photo
  • The extraordinary meeting of Nato ministers of foreign affairs about Russian aggression in Ukraine at Nato headquarters in Brussels, Belgium. EPA
    The extraordinary meeting of Nato ministers of foreign affairs about Russian aggression in Ukraine at Nato headquarters in Brussels, Belgium. EPA
  • Messages in support of Ukraine on a board in the Ukrainian pavilion at Expo 2020 Dubai. AFP
    Messages in support of Ukraine on a board in the Ukrainian pavilion at Expo 2020 Dubai. AFP
  • Firefighters at a warehouse that caught fire after shelling in the village of Chaiky in the Kyiv region. Reuters
    Firefighters at a warehouse that caught fire after shelling in the village of Chaiky in the Kyiv region. Reuters
  • The wreckage of a missile at a bus terminal in Kyiv. Reuters
    The wreckage of a missile at a bus terminal in Kyiv. Reuters
  • A crater in front of a house damaged by shelling in the village of Hatne. Reuters
    A crater in front of a house damaged by shelling in the village of Hatne. Reuters
  • The damaged administrative building of the Zaporizhzhia nuclear power plant in Enerhodar, a city in the Zaporizhzhia region. Reuters
    The damaged administrative building of the Zaporizhzhia nuclear power plant in Enerhodar, a city in the Zaporizhzhia region. Reuters
  • A bright object lands on the grounds of Zaporizhzhia nuclear power plant in Enerhodar, Ukraine, during heavy shelling by Russian forces. AP
    A bright object lands on the grounds of Zaporizhzhia nuclear power plant in Enerhodar, Ukraine, during heavy shelling by Russian forces. AP
  • Zlata, 3, with her face painted in the colours of the Ukrainian flag, stands on the Romanian side of the border with Ukraine after fleeing the country. AP
    Zlata, 3, with her face painted in the colours of the Ukrainian flag, stands on the Romanian side of the border with Ukraine after fleeing the country. AP
  • Ukrainian President Volodymyr Zelenskyy attends an interview with foreign media in Kyiv. Reuters
    Ukrainian President Volodymyr Zelenskyy attends an interview with foreign media in Kyiv. Reuters
  • Ukrainian artillerymen maintain their position in the Luhansk region. AFP
    Ukrainian artillerymen maintain their position in the Luhansk region. AFP
  • Women and children try to board a train bound for Lviv, at a station in Kyiv. AP
    Women and children try to board a train bound for Lviv, at a station in Kyiv. AP
  • US soldiers on patrol near a military camp in Arlamow, Poland, near the border with Ukraine. AFP
    US soldiers on patrol near a military camp in Arlamow, Poland, near the border with Ukraine. AFP
  • A woman and child look out the window of a train at a station in Kyiv. AP
    A woman and child look out the window of a train at a station in Kyiv. AP
  • A descendant of Ukrainian immigrants attends Mass at a Ukrainian Orthodox church in Canoas, Brazil. Reuters
    A descendant of Ukrainian immigrants attends Mass at a Ukrainian Orthodox church in Canoas, Brazil. Reuters
  • Boxes of donations destined for Ukraine at the St Michael's Ukrainian Catholic Church in Montreal, Canada. AP
    Boxes of donations destined for Ukraine at the St Michael's Ukrainian Catholic Church in Montreal, Canada. AP
  • Firefighters battle a blaze at a damaged building in the Ukrainian city of Chernihiv after a Russian air raid. AP
    Firefighters battle a blaze at a damaged building in the Ukrainian city of Chernihiv after a Russian air raid. AP
  • A woman in Frankfurt, Germany, attends a protest against Russia's military offensive in Ukraine. AFP
    A woman in Frankfurt, Germany, attends a protest against Russia's military offensive in Ukraine. AFP

“It's expensive but it's always been more expensive here in California, so I guess we're used to it,” said driver Harry Lee, as he fuelled up on the way to work in Los Angeles on Friday.

“I'll be happy when it goes down but so far it doesn't impact me too much.

“My cousin, who drives for Uber here in LA, is complaining a lot though. I guess it can be hard on him if gas remains at this level for too long.”

California's relatively high petrol prices are the result of state taxes as well as stricter refining rules that require specific fuel formulas intended to reduce air pollution in the hot summer months.

While many drivers have grumbled about seeing pump prices rise almost daily, some say they are prepared to put up with the extra cost because of the pictures of the war in Ukraine they are seeing on the news.

“I would rather have high gas prices here than an authoritarian regime in the Ukraine,” said Los Angeles resident Jacqueline St-Anne.

“If we have to suffer with a little bit of inflation and gas prices for a while to assure that such a wonderful country as Ukraine has an opportunity to develop its democracy, we should do that.”

For others, there is a simple solution to paying through the nose.

“I just bought a Tesla,” said Matthew Reynl.

“That's my solution to the gas prices going up.”

  • Skid Row in Los Angeles, California, is dotted with plenty of street art, some of it ironic. Photo: Karen Borter
    Skid Row in Los Angeles, California, is dotted with plenty of street art, some of it ironic. Photo: Karen Borter
  • A Skid Row resident has seen better days. Photo: Jessica Jewell Lanier
    A Skid Row resident has seen better days. Photo: Jessica Jewell Lanier
  • A homeless veteran bundles up for a winter in Los Angeles. An encampment outside the VA Hospital in Brentwood was recently bulldozed. Photo: Gilbert Mercier
    A homeless veteran bundles up for a winter in Los Angeles. An encampment outside the VA Hospital in Brentwood was recently bulldozed. Photo: Gilbert Mercier
  • Fire consumed a vacant commercial building a block from the Venice Beach Boardwalk and adjacent to a homeless encampment that was later cleared. Photo: Los Angeles Fire Department
    Fire consumed a vacant commercial building a block from the Venice Beach Boardwalk and adjacent to a homeless encampment that was later cleared. Photo: Los Angeles Fire Department
  • A homeless man in Sherman Oaks, a Los Angeles suburb, takes a rest on the sidewalk. Photo: Gilbert Mercier
    A homeless man in Sherman Oaks, a Los Angeles suburb, takes a rest on the sidewalk. Photo: Gilbert Mercier
  • Los Angeles artist and university professor Christopher Chinn began painting portraits of the city's homeless. This encampment in LA's Echo Park was swept of its 300 residents earlier this year. Holly Aguirre / The National
    Los Angeles artist and university professor Christopher Chinn began painting portraits of the city's homeless. This encampment in LA's Echo Park was swept of its 300 residents earlier this year. Holly Aguirre / The National
  • Christopher Chinn said that documenting the homeless through art is an important part of the city's cultural memory. Holly Aguirre / The National
    Christopher Chinn said that documenting the homeless through art is an important part of the city's cultural memory. Holly Aguirre / The National
  • A homeless man takes a rest at a bus stop outside the Frank Gehry-designed Disney Concert Hall in downtown Los Angeles. Holly Aguirre / The National
    A homeless man takes a rest at a bus stop outside the Frank Gehry-designed Disney Concert Hall in downtown Los Angeles. Holly Aguirre / The National
  • The face of homelessness in Los Angeles has changed drastically over the years. This woman was calling Skid Row home when this photo was snapped. Photo: V.T. Polywoda
    The face of homelessness in Los Angeles has changed drastically over the years. This woman was calling Skid Row home when this photo was snapped. Photo: V.T. Polywoda
  • A homeless woman salvages in Skid Row in downtown Los Angeles. Photo: Russ Allison Loar
    A homeless woman salvages in Skid Row in downtown Los Angeles. Photo: Russ Allison Loar
  • Homeless residents of Los Angeles can be found in almost every neighbourhood. Photo: Creative Commons
    Homeless residents of Los Angeles can be found in almost every neighbourhood. Photo: Creative Commons
  • When you're homeless in Venice Beach and on a movie set, they shoot around you. Photo: Gregory Sotir
    When you're homeless in Venice Beach and on a movie set, they shoot around you. Photo: Gregory Sotir
  • This couple calls Skid Row in Los Angeles their home. Photo: Russ Allison Loar
    This couple calls Skid Row in Los Angeles their home. Photo: Russ Allison Loar
  • This gentleman emigrated to the US from Mexico but could not find reasonably priced housing. Photo: Russ Allison Loar
    This gentleman emigrated to the US from Mexico but could not find reasonably priced housing. Photo: Russ Allison Loar
  • Skid Row in Los Angeles encompasses a 50-block radius and is home to some 6,000 residents sleeping in the rough. Photo: Russ Allison Loar
    Skid Row in Los Angeles encompasses a 50-block radius and is home to some 6,000 residents sleeping in the rough. Photo: Russ Allison Loar
  • It is not uncommon for the homeless in Los Angeles to populate their encampments with possessions from their previously housed lives. Photo: Russ Allison Loar
    It is not uncommon for the homeless in Los Angeles to populate their encampments with possessions from their previously housed lives. Photo: Russ Allison Loar
  • A group of residents sleep in the rough on the banks of Arcadia's El Monte Water Conservation Park in East Los Angeles County. Photo: Creative Commons
    A group of residents sleep in the rough on the banks of Arcadia's El Monte Water Conservation Park in East Los Angeles County. Photo: Creative Commons
  • Los Angeles Mayor Eric Garcetti attended the opening of the YWCA Greater Los Angeles and Target Acts of Kindness Project, which provides temporary housing to the city's houseless. Photo: Los Angeles Mayor's Office
    Los Angeles Mayor Eric Garcetti attended the opening of the YWCA Greater Los Angeles and Target Acts of Kindness Project, which provides temporary housing to the city's houseless. Photo: Los Angeles Mayor's Office

First Person
Richard Flanagan
Chatto & Windus 

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

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

Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

Generational responses to the pandemic

Devesh Mamtani from Century Financial believes the cash-hoarding tendency of each generation is influenced by what stage of the employment cycle they are in. He offers the following insights:

Baby boomers (those born before 1964): Owing to market uncertainty and the need to survive amid competition, many in this generation are looking for options to hoard more cash and increase their overall savings/investments towards risk-free assets.

Generation X (born between 1965 and 1980): Gen X is currently in its prime working years. With their personal and family finances taking a hit, Generation X is looking at multiple options, including taking out short-term loan facilities with competitive interest rates instead of dipping into their savings account.

Millennials (born between 1981 and 1996): This market situation is giving them a valuable lesson about investing early. Many millennials who had previously not saved or invested are looking to start doing so now.

Dubai World Cup nominations

UAE: Thunder Snow/Saeed bin Suroor (trainer), North America/Satish Seemar, Drafted/Doug Watson, New Trails/Ahmad bin Harmash, Capezzano, Gronkowski, Axelrod, all trained by Salem bin Ghadayer

USA: Seeking The Soul/Dallas Stewart, Imperial Hunt/Luis Carvajal Jr, Audible/Todd Pletcher, Roy H/Peter Miller, Yoshida/William Mott, Promises Fulfilled/Dale Romans, Gunnevera/Antonio Sano, XY Jet/Jorge Navarro, Pavel/Doug O’Neill, Switzerland/Steve Asmussen.

Japan: Matera Sky/Hideyuki Mori, KT Brace/Haruki Sugiyama. Bahrain: Nine Below Zero/Fawzi Nass. Ireland: Tato Key/David Marnane. Hong Kong: Fight Hero/Me Tsui. South Korea: Dolkong/Simon Foster.

What is blockchain?

Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.

The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.

Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.

However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.

Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.

While you're here ...

Damien McElroy: What happens to Brexit?

Con Coughlin: Could the virus break the EU?

Andrea Matteo Fontana: Europe to emerge stronger

SCHEDULE

Thursday, December 6
08.00-15.00 Technical scrutineering
15.00-17.00 Extra free practice

Friday, December 7
09.10-09.30 F4 free practice
09.40-10.00 F4 time trials
10.15-11.15 F1 free practice
14.00 F4 race 1
15.30 BRM F1 qualifying

Saturday, December 8
09.10-09.30 F4 free practice
09.40-10.00 F4 time trials
10.15-11.15 F1 free practice
14.00 F4 race 2
15.30 Grand Prix of Abu Dhabi

SPECS
%3Cp%3E%3Cstrong%3EEngine%3C%2Fstrong%3E%3A%202-litre%20direct%20injection%20turbo%20%0D%3Cbr%3E%3Cstrong%3ETransmission%3C%2Fstrong%3E%3A%207-speed%20automatic%20%0D%3Cbr%3E%3Cstrong%3EPower%3C%2Fstrong%3E%3A%20261hp%20%0D%3Cbr%3E%3Cstrong%3ETorque%3C%2Fstrong%3E%3A%20400Nm%20%0D%3Cbr%3E%3Cstrong%3EPrice%3C%2Fstrong%3E%3A%20From%20Dh134%2C999%26nbsp%3B%3C%2Fp%3E%0A
THE SIXTH SENSE

Starring: Bruce Willis, Toni Collette, Hayley Joel Osment

Director: M. Night Shyamalan

Rating: 5/5

School counsellors on mental well-being

Schools counsellors in Abu Dhabi have put a number of provisions in place to help support pupils returning to the classroom next week.

Many children will resume in-person lessons for the first time in 10 months and parents previously raised concerns about the long-term effects of distance learning.

Schools leaders and counsellors said extra support will be offered to anyone that needs it. Additionally, heads of years will be on hand to offer advice or coping mechanisms to ease any concerns.

“Anxiety this time round has really spiralled, more so than from the first lockdown at the beginning of the pandemic,” said Priya Mitchell, counsellor at The British School Al Khubairat in Abu Dhabi.

“Some have got used to being at home don’t want to go back, while others are desperate to get back.

“We have seen an increase in depressive symptoms, especially with older pupils, and self-harm is starting younger.

“It is worrying and has taught us how important it is that we prioritise mental well-being.”

Ms Mitchell said she was liaising more with heads of year so they can support and offer advice to pupils if the demand is there.

The school will also carry out mental well-being checks so they can pick up on any behavioural patterns and put interventions in place to help pupils.

At Raha International School, the well-being team has provided parents with assessment surveys to see how they can support students at home to transition back to school.

“They have created a Well-being Resource Bank that parents have access to on information on various domains of mental health for students and families,” a team member said.

“Our pastoral team have been working with students to help ease the transition and reduce anxiety that [pupils] may experience after some have been nearly a year off campus.

"Special secondary tutorial classes have also focused on preparing students for their return; going over new guidelines, expectations and daily schedules.”

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
What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

The Vile

Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah

Director: Majid Al Ansari

Rating: 4/5

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
Evacuations to France hit by controversy
  • Over 500 Gazans have been evacuated to France since November 2023
  • Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
  • The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
  • Artists and researchers fall under a programme called Pause that began in 2017
  • It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
  • Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
  • Unlike students, they are allowed to bring their families to France
RESULTS

5pm: Watha Stallions Cup Handicap (PA) Dh 70,000 (Dirt) 2,000m

Winner: Dalil De Carrere, Bernardo Pinheiro (jockey), Mohamed Daggash (trainer)

5.30pm: Maiden (TB) Dh 70,000 (D) 2,000m

Winner: Miracle Maker, Xavier Ziani, Salem bin Ghadayer

6pm: Maiden (PA) Dh 70,000 (D) 1,600m

Winner: Pharitz Al Denari, Bernardo Pinheiro, Mahmood Hussain

6.30pm: Maiden (PA) Dh 70,000 (D) 1,600m

Winner: Oss, Jesus Rosales, Abdallah Al Hammadi

7pm: Handicap (PA) Dh 70,000 (D) 1,400m

Winner: ES Nahawand, Fernando Jara, Mohamed Daggash

7.30pm: Maiden (PA) Dh 70,000 (D) 1,000m

Winner: AF Almajhaz, Abdul Aziz Al Balushi, Khalifa Al Neyadi

8pm: Maiden (PA) Dh 70,000 (D) 1,000m

Winner: AF Lewaa, Bernardo Pinheiro, Qaiss Aboud.

Updated: March 04, 2022, 9:01 PM