A destination known to be popular with the rich and famous, the Kardashians love going there, it’s a destination that’s been gaining popularity over the last few years. In fact, the number of annual international overnight visitors almost doubled in six years. This saw the number climb from around 8.5 million in 2010 to just under 15.3 million in 2016. That’s a lot of people.
If you’re thinking of holidaying there, and you haven’t been before, then there are a few things that you need to know before visiting Dubai. Below, we’ve listed four things you should keep in mind, which you’ve probably not even considered.
1. Smoking
While smoking in the UK has decreased over the last decade or two, it’s still quite commonplace in many other countries. However, when it comes to e-cigs and e-liquid devices, it’ll probably be best to leave yours at home while visiting Dubai. You may be wondering why, but it’s actually illegal to sell them in the UAE. But, while there isn’t a law that prohibits the use of them, some say the lines can be a bit blurred. This is due to some wondering if they could still encounter a fine if using them in a place that allows smoking. Therefore, it’s probably best to leave yours at home.
2. Clothing
While the country is known for being extremely hot, please remember that you’re in a more conservative country. Because of this, you should ensure that you keep your holiday wardrobe more on the conservative side too. This means that when packing you should make sure that you pack long-sleeves and full-length trousers, as well as your swimwear that’ll no doubt come in handy at your resort. It’ll also be worth talking to the staff at your hotel about what you can wear depending on where you’re going, if you want to be 100% sure.
3. Cash
Although we’ve become accustomed to a contactless society, this isn’t the case in Dubai. In fact, cash is still very much king when it comes to transactions. Therefore, make sure you get enough cash to take away with you before leaving for your holiday (the currency here is Dirham). However, many places will accept credit cards, but it’s always better to be prepared for any eventuality.
4. Kissing
As mentioned above, Dubai is a much more conservative country than the UK. Because of this, public kissing is a bit of a no-no. Therefore, public displays of affection in restaurants, on the beach, in nightclubs, on the street and in taxis are best avoided, as you could find yourself getting into a lot of trouble.
Dubai and Abu Dhabi in the United Arab Emirates (UAE) could soon join London, New York and Hong Kong in the world’s top 10 global financial centre rankings, thanks to new government laws affecting expatriates.
This is the bold message from Nigel Green, the founder and CEO of deVere Group. The observation comes as the UAE cabinet on Sunday approved new legislation that allows expatriates to remain in the country long after they retire.
Mr Green affirms: “Dubai and Abu Dhabi are perennially popular destinations for ambitious expatriates looking to embark upon or further their careers because of the incredible possibilities offered in terms of finance, trade and commerce, plus the famous ‘can do’ attitude and the low tax environment in these destinations.
“But they will become even more attractive locations for overseas talent thanks to the government passing these new laws that allow expats to stay on in the UAE long after they retire.”
He continues: “With Dubai and Abu Dhabi becoming ever-more appealing relocation destinations, recruiting more top talent here will inevitably become easier for companies that are based in these emirates.
“In addition, I believe that it will help drive further driving confidence in the UAE as a place for overseas firms to do business and invest.”
Mr Green goes on say: “Dubai is already recognised as one of the most powerful financial centres in the world. But this new legislation will not only galvanise this position, but significantly strengthen it.
“This confirms my view that over the next decade, we can expect it to become one of the world’s top ten international financial hubs to rival and more aggressively compete with stalwarts such as London, New York and Hong Kong.
“Dubai and Abu Dhabi are helped in this regard by having an independent regulator, an independent judicial system, a global financial exchange, a stable, pro-business government, a high proposition of high net worth individuals, a dynamic business community, world-class infrastructure and telecommunications, English as its defacto business language, and their enviable geographical location and time zone.”
The deVere CEO concludes: “We fully welcome this progressive policy shift by the UAE government. It will encourage even more people to come, stay and invest for the long-term in the country, which will further boost its sustainable economic growth.”
Earlier this year, Dubai was revealed as the number one city for graduates seeking a career in financial services, whilst London didn’t make the top ten, in an annual deVere Group survey.
Of the findings at the time, Mr Green noted: “This survey highlights that the next generation of financial services professionals are open to look beyond the traditional and more established global financial hubs.
“It underscores how cities like Dubai, Barcelona and Cape Town are increasingly important international financial centres.
“The fact that Barcelona this year is second-placed and London – currently the world’s most important global financial hub – does not make the top ten is interesting.
“Could it be that the respondents believe mainland Europe’s international financial centres offer more opportunities than post-Brexit London?”
(Source: deVere Group)
Known for all of its high-end flamboyance, Dubai is on most people’s bucket list destination of travel. And we do not blame them; fear not of conforming to the ‘wanna-be’ celebrity WAG’s ideal home away from home, because Dubai truly will baffle you.
Grandeur being her middle name, the United Arab Emirate city overshadows the Middle East with its ultramodern architecture and skyscrapers. From luxury designer shops to serene beaches, once branded as the Middle East’s most expensive city, Dubai’s character is to feed the slight hedonism in all of us.
She also feeds the adventure in us. From the tamer dune bashing and sandboarding, to the extreme paragliding and parachuting, this city has the perfect climate and atmosphere for you to overdose on adrenaline; and to try and stop you from changing your mind, hotels such as Amwaj Rotana are a quick two-minute walk from the beach you will be jet skiing across.
But for those who indulge in the history of a nation, Dubai also flaunts true Emirati culture; it will feel like you have travelled back in time. Step off the metro to hop on an abra – a traditional wooden boat – to discover tantalising cuisine and your hidden talent of haggling (the locals love a challenge).
The Old Souq is packed with stalls selling traditional Arabian textiles, including fine silk and cotton in every colour, intricately woven rugs and dazzling sequined footwear. Spoil your eyes awing at the vividly colourful, fresh spices and treat your nose to the musky scent of ‘liquid gold’: Oud. It is no surprise that with Oud being one of the most expensive raw scent ingredients, that Tom Ford, Gucci, Guerlian and an array of designers have snatched up the unique fragrance. At Dubai’s Deira Souq, you can be your own version of Jo Malone; from essential oils to incense sticks, vendors will be more than happy to give a crash course in perfumes for you to personally create your own.
And of course, the most famous market: The Gold Souq. Covered with bespoke jewellery and statement pieces that would even make the Queen’s diamond collection look dry, the Gold Souq has an overwhelming choice of gold and diamonds. My tip? Have a good look around before you settle on the perfect ring.
Amwaj Rotana is situated near the metro line, where you can be in Deira via public transport in around an hour. You can also get a taxi (which aren’t too dear), which will take around half an hour.
If haggling and bustling market is not your thing and you much prefer shopping in luxury, the infamous Dubai Mall is for you. The Mall itself, I think, could easily be the size of a town. It is also home to the aquarium which is much loved by adults and children, as well as an ice rink, cinema, the Emirates ‘flight’ experience, a virtual reality park, and of course, a mass array of designer shops, Emirati shops and places to fine dine or casual eateries.
If that is not enough (you must be a tough one to please), but the Mall is also the neighbour of the tallest building of the world: the Burj Khalifa. Standing 828 metres tall, the tower not only showcases the entire city, but you can treat yourselves to afternoon tea on the outskirts of heaven.
Amwaj Rotana is situated 50 minutes away via public transport, or a short 20 minute drive via taxi.
Where to stay
Amwaj Rotana is situated a short two minute (101 steps, to be accurate) walk from the Jumeirah Beach; if the swimming pool isn’t enough for you, you can be dipping your toes in the sea in no time.
For special VIP guests, you can bask in the comfort and feel at home at Atrium Lobby Lounge as you indulge on an array of juices, cocktails and freshly made cakes, treats and delicious pastries. A fine selection of tea and coffees is also available should you wish to enjoy a relaxed cup of tea or discuss business over coffee.
The spacious rooms overlook the city and coast, or, if you want to get out of the room and join those you’re overlooking, you can order a limousine to drive you around. The hotel staff are happy to organise day trips to the desert where you can befriend camels and enjoy a night of Arabian entertainment, or if you fancy something more subdued, enjoy a relaxing massage at Rotana’s spa.
With award-winning dining concepts offering Italian, American/Japanese, British/American and international cuisine as well as live entertainment, and the friendly staff are more than happy to cook something on the spot for those with dietary requirements.
The staff at Rotana are friendly in nature and are more than happy to offer advice for those who are new to Dubai.
Kids? If you want to enjoy the jacuzzi in peace, send them off to Amwaj’s Flipper’s Kids’ Club or, try and find a willing member to babysit them at Dubai’s much-loved waterpark, or at the Splashpad located at the Jumeirah Beach.
Emirati hospitality is something you must experience for yourself. A perfected mix of luxury and warmth, Dubai is an ever-growing city that is grand in nature.
Stay at the five-star Amwaj Rotana in Dubai from 795 AED (approx. £155) per night inclusive of breakfast based on two adults sharing a Classic Room. To book or for further information, please visit www.rotana.com.
Dubai is now the number one city for graduates seeking a career in financial services, whilst London doesn’t make the top ten, reveals a survey by one of the world’s largest independent financial advisory organisations.
In an annual poll, deVere Group asks those who start its flagship Graduate Programme, in which location within the Group’s global network of more than 70 offices they would like to start their international financial services career.
This year, 28% said their first choice would be Dubai. The second most popular was Barcelona (22%); third is Hong Kong (17%); fourth is New York (14%); and fifth is Cape Town (8%).
The remaining 11% is made up of other destinations including Shanghai, Sydney, Geneva, Paris, Bangkok and Abu Dhabi.
deVere Group founder and CEO, Nigel Green, comments: “This survey highlights that the next generation of financial services professionals are open to look beyond the traditional and more established global financial hubs.
“It underscores how cities like Dubai, Barcelona and Cape Town are increasingly important international financial centres and compete with the stalwarts such as Hong Kong and New York.
“With this, as the apparent perception of the wealth mangers and advisers of the future, we can expect this trend to continue for the foreseeable future.”
He continues: “The fact that Barcelona this year is second-placed and London – currently the world’s most important global financial hub – does not make the top ten is interesting.
“Could it be that the respondents believe mainland Europe’s international financial centres offer more opportunities than post-Brexit London?”
Mr Green goes on to say: “These global hubs of finance, trade and commerce represent destinations of incredible possibilities for ambitious grads wanting to embark on careers as wealth professionals.
“There are some shared characteristics amongst these top five cities. These include that English is commonly spoken, they are politically and economically stable and there is a high level of high net worth individuals.
“But these destinations are also quite different from each other in terms of the lifestyle they offer and in terms of clients’ expectations, economic environments and regulatory conditions.
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“With each of the top five cities offering unique opportunities and challenges, each one attracts grads who have often quite markedly different strengths and weaknesses, skill sets and aspirations.”
The 18-month deVere Group Graduate Programme’s training begins at the Malta administration and support office, and graduates are then given the choice to attend an international deVere Academy, before full-time relocation when they actively start their careers.
The deVere CEO concludes: “deVere graduates don’t just witness our client-focused, values-driven, attention-to-detail culture from their side-lines – they’re an integral part of it.
“We like them to share their own personalities and perspectives, because together with our continual training and mentoring, it will allow them to become better financial advisers.”
(Source: deVere Group)
In a report published titled "The Future Of Banking: Islamic Finance Needs Standardization And FinTech To Boost Growth," S&P Global Ratings says it believes the global Islamic finance industry will expand slowly in 2018 and 2019.
We think standardization and financial technology (fintech) could help accelerate the industry's growth in the short to medium term. In particular, standard Sharia interpretation and legal documentation could simplify sukuk issuance, while making room for innovation. Fintech, on the other hand, could stimulate growth by making transactions quicker and easier.
However, fintech could also disrupt the market. "In the medium term, we envisage some disruption in the payment services sector, an increase in the number of people using financial services, as well as greater use of regulatory technology for Sharia compliance, and blockchain to support transaction traceability and identity protection," said S&P Global Head of Islamic Finance, Dr. Mohamed Damak.
"We expect the Islamic finance industry will grow by only about 5% on average over the next two years, owing to tepid economic conditions in certain core markets," added Dr. Damak.
We foresee only a marginal influence of fintech on our Islamic bank ratings over that period. We consider that Islamic banks will be able to adapt to their changing operating environment through a combination of collaboration with fintech companies and cost-reduction measures. We also believe that regulators across the wider Islamic finance landscape will continue to protect the financial stability of their banking systems.
(Source: S&P Global)
IBM recently announced a blockchain initiative with Dubai Customs, Dubai Trade, advancing Dubai's government blockchain strategy. As part of the initiative, IBM is also working with leading businesses including Emirates NBD, du, Aramex, and Banco Santander.
IBM is collaborating with Dubai Customs, Dubai Trade and its IT provider DUTECH, to explore the use of blockchain for a trade finance and logistics solution for the import and re-export process of goods in and out of Dubai. Using Hyperledger Fabric and IBM Cloud, the blockchain solution transmits shipment data allowing key stakeholders to receive real-time information about the state of goods and the status of the shipment. Taking the example of a shipment of fruit, stakeholders involved in the process will receive timely updates as the fruit is exported from India to Dubai by sea, and then manufactured into juice in Dubai, and then exported as juice from Dubai to Spain by air.
Additionally, as part of the solution, IBM is also working with du, a UAE-based telecommunications service provider that is conveying data from internet of things (IoT); Emirates NBD Bank, the letter of credit issuing bank; Banco Santander, the letter of credit responding bank; Aramex, the freight forwarder; and a leading Airline, as the airway carrier.
This trade finance and logistics blockchain-based solution aims to replace paper-based contracts with smart contracts; leverages Watson IoT for device-reported data to update or validate smart contracts; and integrates all the key trade process stakeholders from the ordering stage, in which the importer obtains a letter of credit from their bank, through the intermediary stages of freight and shipping, and ending with customs and payment.
In February 2016, the Dubai government declared its interest to position itself as a blockchain hub and embrace the technology. As part of this declaration, the Dubai Museum of the Future Foundation established the 'Global Blockchain Council' in which IBM is a member. Further, Dubai plans to execute all its transactions on a blockchain by 2020, as a part of its "Dubai Blockchain Strategy."
"The bank has always had a culture of innovation and several of the bank's most successful products and features can be attributed to this forward-thinking mindset," said Ali Sajwani, Group Chief Information Officer, Emirates NBD Group. "We are excited to participate in the ecosystem on streamlining the trade finance process using the futuristic Blockchain technology, which has the potential of transforming the way we conduct business between heterogeneous entities."
"IBM believes that blockchain will do for transactions what the internet did for information. Dubai is at the forefront of adopting this transformative technology as government agencies and businesses realize the need to have a shared secured ledger that establishes accountability and transparency while streamlining business processes," said Amr Refaat, General Manager, IBM Middle East and Pakistan. "Our collaboration today with leading Dubai organizations across different sectors in trade finance and transportation will showcase how blockchain will revolutionize the way businesses interact with one another and with their customers and suppliers."
A recent blockchain study, Building Trust in Governments, by the IBM Institute for Business Value (IBV), found that several governmental organizations are embracing blockchain technology to promote more extensive collaboration. Nine out of 10 governmental organizations plan to invest in blockchain for use in financial transaction management, asset management, contract management and regulatory compliance by 2018. And seven out of 10 government executives predict blockchain will significantly disrupt the area of contract management, which is often at the intersection of the public and private sector.
In the Middle East and Africa, nine out of 10 government executives surveyed see contract management as the greatest potential new business model. By using blockchains for contract management, issues such as the failure of any party to meet a deadline or complete a task, for example, could be more immediately visible. Transparency derived from contract management on blockchains could improve performance management. Governments will be able to use blockchains to explore new business models for providing services to citizens beyond the limits of current technology. These models can be used to improve the efficiencies of current services, while expanding the ability to provide new services.
IBM is rapidly expanding its blockchain capabilities and actively working with companies to understand what it takes to make blockchain ready for business. Financial services, supply chains, IoT, risk management, digital rights management and healthcare are some of the areas that are poised for dramatic change using blockchain networks.
(Source: IBM)
