DUBAI // Three men are accused of kidnapping a fellow Bangladeshi and holding him hostage until a ransom was paid. The gang then allegedly went on to kidnap a relative of the man who delivered the ransom money, demanding a second payment for their release.
The three men were charged at the Dubai Criminal Court of First Instance yesterday of kidnapping, threatening behaviour, and assault. The gang allegedly kidnapped Mohin Kalobautry on November 5 of last year after persuading him to pay a visit to one of the gang members. The prosecution said the victim was kidnapped and held at an apartment in Satwa before being moved to an abandoned flat in Al Qusais.
The defendants demanded Dh6,000 (US$1,600) for his release and ordered him to raise the money through his friends, the prosecution said.
After a friend delivered the ransom money, he was contacted again by the gang, who said they had snatched a relative of his and that a further Dh8,000 would have to be paid for his release, the court was told.
The defendants KS, 27, a tailor described as the ring leader, DR, 30, and MA, 26, both labourers, denied the charges. The court adjourned the case until February 25 when the verdict will be delivered.
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Young women have more “financial grit”, but fall behind on investing
In an October survey of young adults aged 16 to 25, Charles Schwab found young women are more driven to reach financial independence than young men (67 per cent versus. 58 per cent). They are more likely to take on extra work to make ends meet and see more value than men in creating a plan to achieve their financial goals. Yet, despite all these good ‘first’ measures, they are investing and saving less than young men – falling early into the financial gender gap.
While the women surveyed report spending 36 per cent less than men, they have far less savings than men ($1,267 versus $2,000) – a nearly 60 per cent difference.
In addition, twice as many young men as women say they would invest spare cash, and almost twice as many young men as women report having investment accounts (though most young adults do not invest at all).
“Despite their good intentions, young women start to fall behind their male counterparts in savings and investing early on in life,” said Carrie Schwab-Pomerantz, senior vice president, Charles Schwab. “They start off showing a strong financial planning mindset, but there is still room for further education when it comes to managing their day-to-day finances.”
Ms Schwab-Pomerantz says parents should be conveying the same messages to boys and girls about money, but should tailor those conversations based on the individual and gender.
"Our study shows that while boys are spending more than girls, they also are saving more. Have open and honest conversations with your daughters about the wage and savings gap," she said. "Teach kids about the importance of investing – especially girls, who as we see in this study, aren’t investing as much. Part of being financially prepared is learning to make the most of your money, and that means investing early and consistently."
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