Qatari wins US$1m in Dubai Duty Free draw
Abdu Hamid Zainel, from Qatar, has become the latest $1m winner of the Dubai Duty Free Millennium Millionaire Promotion. The businessman, 56, bought the winning ticket in March before boarding a flight to Qatar. “Buying a ticket to win $1m has become a habit for me whenever I visit Dubai on business every two months,” said Mr Zainel. “Nonetheless, It was not until my details were read over the phone that I realised that I have really become a millionaire.”
$107
Travellers from the UAE are willing to spend an average of US$107 on extras to personalise their trips, research from travel technology company Sabre Corporation has found. The study surveyed business and leisure travellers and also found that about 50 per cent are more likely to be loyal to an airline or a hotel if they receive a personalised service.
Souqalmal.com ties up with dubizzle for car insurance
Financial comparison site Souqalmal.com has teamed up with Dubizzle Motors to offer a new tool for searching, comparing and buying car insurance in the UAE through the dubizzle platform. The classifieds website said its users can now access insurance quotes within 60 seconds, have an insurance policy issued within 60 minutes, and have all questions answered seven days a week via the Souqalmal.com call centre.
Australians have borrowed up a storm, and housing prices in this nation are now dangerously dumb
Chris Richardson, Australian economist
ETF yield falls dramatically
Investors in the $4.9 billion PowerShares Preferred Portfolio last month found that a huge chunk of their potential returns had vanished. A key measure of the yield for the exchange-traded fund’s underlying index plunged by about 3 percentage points on March 22, because the index switched the way it calculates its yield to worst metric, which indicates an investor’s income from the fund in a worst-case-scenario.
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