Dh3 million
Visa’s “impossible deals” initiative during this year’s Dubai Shopping Festival delivered Dh3 million worth of savings for its cardholders. The global payments provider said a record 125,000 signed up for the promotion with 425 winners rewarded with deals on mobile phones, watches, jewellery, gold and cars. While 10 shoppers drove home an Infiniti QX50 worth Dh181,000 for just Dh25,000, a total of 200 cardholders had iPhone 7s delivered to their door for just Dh600.
Residents apply multiple times for finance
UAE residents were forced to apply for multiple loans to secure personal finance last year. While 1.6 per cent fewer people actually applied for personal loans in 2016 compared to the previous years, according to the financial comparison website compareit4me, those who did apply had to make numerous applications to actually get a loan — something illustrated by the 10.26 per cent increase in the number of applications.
Quote:
“It needed a few quarters of good performance for them to warm up and get more interested. This is what is happening now.”
Michael Bolliger, the head of emerging-market asset allocation at UBS Wealth Management on its clients’ interest in increasing their emerging-market holdings after last year’s rally.
ADIB launches Snapchat channel
Abu Dhabi Islamic Bank announced a new Snapchat channel this week, in a bid to better connect with its customers and the wider community. The channel will act as an online platform for customers to engage with the bank and also share its news and promotions.
US credit card thieves move online
The use of stolen card data to pay for merchandise on US websites in mobile apps and via call centres surged 40 per cent last year, according to a report from Javelin Strategy & Research released on Wednesday. That is forcing merchants to spend billions on online fraud protection in an effort to detect when a crook is using someone else’s card number.
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WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
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'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
EMIRATES'S%20REVISED%20A350%20DEPLOYMENT%20SCHEDULE
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The Intruder
Director: Deon Taylor
Starring: Dennis Quaid, Michael Ealy, Meagan Good
One star
Arctic Monkeys
Tranquillity Base Hotel Casino (Domino)
Tributes from the UAE's personal finance community
• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
• Steve Cronin, founder of DeadSimpleSaving.com
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
• Zach Holz, who blogs about financial independence at The Happiest Teacher
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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