Too many legs for my liking



It had been a long day in the office and the traffic coming back into Dubai from Abu Dhabi was torturous. I could have hopped faster from Jebel Ali. Still, never mind. It was Sunday night. I was going to have an evening lying on my sofa watching The Thick of It on my laptop. This would lie balancing on my stomach, as it has become accustomed to doing, while I dropped Minstrels into my mouth like a Roman eating grapes. Not the small singing men, you understand, but the crunchy chocolate buttons.

Unhappily, it was not to be. As I walked into my apartment and kicked an errant shoe from my path, a single fat cockroach scuttled from underneath it into my kitchen and took refuge underneath my washing machine. I don't scare easily, but anything with more than four legs will do it. I felt itchy and dirty, like I was eight years old again and suffering a bad case of nits. I wanted to heave aside every piece of furniture to make sure its cockroach friends did not lurk there.

Instead, I screamed and jumped as women do in cartoons when they spy a mouse. I then plucked the insect spray out from its cupboard and liberally doused my kitchen floor in the stuff. Had the cockroach been the same size as me, I sprayed enough to defeat it. Trouble was, this duly set off the gas leak alarm, which vied with my screams for attention. My peaceful Sunday night was ruined. Sadly I've been expecting such drama. I live on the first floor of my building, and some months ago a small notice went up on the glass front of the space below me. "Cafe opening," it said in tiny letters.

My first thought, which I'm not ashamed to admit, was "Please let it be a Starbucks." Even though there is a branch mere minutes away, my devotion to their grande skinny lattes knows no bounds and this would mean I could meander in there every morning in my dressing gown, like Noel Coward. My second thought was more practical: "Living above a cafe means cockroaches." I have been worrying about this over the past months as the banging and the drilling for the cafe continued. There was a brief lull in activity over Christmas, but work has started again in earnest for this new cafe. And with it, as prophesied, have crawled nasty six-legged bugs.

"How big? Tell me in centimetres. If it's under 3cm, you're a big chicken," said my friend Zeena when I recounted my sad tale the next day via e-mail. I replied that it was probably just under 3cm, maybe two and a half. Going by Zeena's scale, that indeed made me a chicken. But cockroaches hunt in packs, I'm sure of it, so I need to stock up on spray.

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

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

Company%20Profile
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Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

Honeymoonish
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