Aren't they great, those people over at Emirates Airline?
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Never ones to make a drama out of a crisis, as the old insurance industry slogan went.
I (recently) found myself on an enforced and elongated stay in London and, due to a number of things forgot to postpone my booked return flight to the UAE. Then, suddenly having to be back in Dubai, was faced with stumping up for a new ticket for the return trip.
My own fault, I know, but the kind of thing that could happen to anyone in extremis.
I explained my extenuating circumstances to the London booking office of Emirates, and was cheered to get an email from Boutros Boutros, the veteran communications adviser to Sheikh Ahmed bin Saeed Al Maktoum, the head of the airline.
Not only was my ticket reinstated, but the check-in staff at Heathrow (thank you, Maria Bissett) had been made aware of my circumstances, and were thoroughly sympathetic and helpful.
Emirates has been one of the fastest-growing airline in the world for the past several years, but it's pleasing to know that in all its world-beating expansion, it has not lost the all-important human touch.
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While in London, I had an awful glimpse into the practical realities of a collapse of the euro. It was a preview of financial anarchy.
Portobello Road street market, in Notting Hill in the west of the city, is as cosmopolitan as can be on a Saturday afternoon. The locals are cosmopolitan any day of the week, but on Saturday the street has become a "must see" for the French, Germans, Dutch, Spanish and other euro-zone tourists who flock there.
With increasing numbers of Asian and American tourists thrown in, Portobello is a Tower of Babel, as well as a microcosm of the world financial system.
A couple of weeks ago, after a downward plunge in the price of German bonds seemed to presage the end of the currency, the queues at the local ATM were longer than ever, mainly with tourists trying to get sterling on their euro-denominated bank cards. I joined the back of a long queue, but noticed lots of consternation at the front, with many people walking away with no money.
I asked a Dutch tourist what was happening. "They are not giving sterling out if you have a euro cash card," he said. I stood there watching for another 20 minutes, and it was true: if you had a sterling card, you got your cash; if a euro card, nothing.
For the rest of that day, in that one part of London, the forex market had collapsed and the euro and sterling were not "fungible", as the currency dealers call it. The UAE financial authorities will be pleased to know, however, that my dirham-denominated cash card still produced a healthy flow of sterling.
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Back in Dubai, I notice some worrying developments in the hydrology of the Marina area, where I live.
The Infinity building (known locally as the "Twisty Tower") has suddenly had a swimming pool dug next to it, or at least that's what it looks like from my 44th-floor balcony.
Just a few weeks ago, the site was definitely earmarked by the developer Arabtec for a multi-storey car park, maybe even another high-rise. You could see the deep and elaborate foundations taking shape every day, and hear the work going on around the clock.
Now it's a big, flooded hole in the ground. Definitely a swimming pool, if they can fish out all the flotsam and jetsam - timber, cement bags, builders' equipment - swirling around in it.
It's the second such disconcerting event in the past couple of months. In late summer, the undeveloped plot in front of my building (which had been used as an ad hoc car park for the Marina Walk) was transformed overnight into a vast lake, with a few vehicles abandoned in the middle of it.
The coming winter rains will make the situation worse. Somebody from the Municipality should find the obvious hole in the Marina wall, and put their finger in it, like the little Dutch boy and the dyke. Or whatever engineers use these days.
* Frank Kane
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Jordan cabinet changes
In
- Raed Mozafar Abu Al Saoud, Minister of Water and Irrigation
- Dr Bassam Samir Al Talhouni, Minister of Justice
- Majd Mohamed Shoueikeh, State Minister of Development of Foundation Performance
- Azmi Mahmud Mohafaza, Minister of Education and Minister of Higher Education and Scientific Research
- Falah Abdalla Al Ammoush, Minister of Public Works and Housing
- Basma Moussa Ishakat, Minister of Social Development
- Dr Ghazi Monawar Al Zein, Minister of Health
- Ibrahim Sobhi Alshahahede, Minister of Agriculture and Minister of Environment
- Dr Mohamed Suleiman Aburamman, Minister of Culture and Minister of Youth
Out
- Dr Adel Issa Al Tawissi, Minister of High Education and Scientific Research
- Hala Noaman “Basiso Lattouf”, Minister of Social Development
- Dr Mahmud Yassin Al Sheyab, Minister of Health
- Yahya Moussa Kasbi, Minister of Public Works and Housing
- Nayef Hamidi Al Fayez, Minister of Environment
- Majd Mohamed Shoueika, Minister of Public Sector Development
- Khalid Moussa Al Huneifat, Minister of Agriculture
- Dr Awad Abu Jarad Al Mushakiba, Minister of Justice
- Mounir Moussa Ouwais, Minister of Water and Agriculture
- Dr Azmi Mahmud Mohafaza, Minister of Education
- Mokarram Mustafa Al Kaysi, Minister of Youth
- Basma Mohamed Al Nousour, Minister of Culture
UAE currency: the story behind the money in your pockets
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
About Proto21
Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group
Sheer grandeur
The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.
A clear distinction between the residences and the Raffles hotel with the amenities operated separately.
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Sukuk explained
Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.
Test series fixtures
(All matches start at 2pm UAE)
1st Test Lord's, London from Thursday to Monday
2nd Test Nottingham from July 14-18
3rd Test The Oval, London from July 27-31
4th Test Manchester from August 4-8
Full list of Emmy 2020 nominations
LEAD ACTOR IN A COMEDY SERIES
Anthony Anderson, Black-ish
Don Cheadle, Black Monday
Ted Danson, The Good Place
Michael Douglas, The Kominsky Method
Eugene Levy, Schitt’s Creek
Ramy Youssef, Ramy
LEAD ACTRESS IN A COMEDY SERIES
Christina Applegate, Dead to Me
Rachel Brosnahan, The Marvelous Mrs. Maisel
Linda Cardellini, Dead to Me
Catherine O’Hara, Schitt’s Creek
Issa Rae, Insecure
Tracee Ellis Ross, Black-ish
OUTSTANDING VARIETY/TALK SERIES
The Daily Show with Trevor Noah
Full Frontal with Samantha Bee
Jimmy Kimmel Live
Last Week Tonight with John Oliver
The Late Show with Stephen Colbert
LEAD ACTOR IN A DRAMA SERIES
Jason Bateman, Ozark
Sterling K. Brown, This Is Us
Steve Carell, The Morning Show
Brian Cox, Succession
Billy Porter, Pose
Jeremy Strong, Succession
LEAD ACTRESS IN A DRAMA SERIES
Jennifer Aniston, The Morning Show
Olivia Colman, The Crown
Jodie Comer, Killing Eve
Laura Linney, Ozark
Sandra Oh, Killing Eve
Zendaya, Euphoria
OUTSTANDING REALITY/COMPETITION PROGRAM
The Masked Singer
Nailed It!
RuPaul’s Drag Race
Top Chef
The Voice
LEAD ACTOR IN A LIMITED SERIES/TV MOVIE
Jeremy Irons, Watchmen
Hugh Jackman, Bad Education
Paul Mescal, Normal People
Jeremy Pope, Hollywood
Mark Ruffalo, I Know This Much Is True
LEAD ACTRESS IN A LIMITED SERIES/TV MOVIE
Cate Blanchett, Mrs. America
Shira Haas, Unorthodox
Regina King, Watchmen
Octavia Spencer, Self Made
Kerry Washington, Little Fires Everywhere
OUTSTANDING LIMITED SERIES
Little Fires Everywhere
Mrs. America
Unbelievable
Unorthodox
Watchmen
OUTSTANDING COMEDY SERIES
Curb Your Enthusiasm
Dead to Me
The Good Place
Insecure
The Kominsky Method
The Marvelous Mrs. Maisel
Schitt’s Creek
What We Do In The Shadows
OUTSTANDING DRAMA SERIES
Better Call Saul
The Crown
The Handmaid’s Tale
Killing Eve
The Mandalorian
Ozark
Stranger Things
Succession
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed