About 66 per cent of Indians living in the UAE plan to increase their investments in the Emirates in the next three years, according to a new report by HSBC.
This is higher than the global average for overseas Indians’ investment intentions, which stands at 59 per cent.
UAE-based Indian investors will primarily target investments in real estate, stock markets and private businesses, according to the UK lender’s Global Indian Pulse report, which polled 4,152 people in nine markets, including the UAE (1,05 respondents), the US, the UK, Saudi Arabia and Singapore, among others, between August 18 and September 13.
“At 3.5 million, the UAE is home to the largest number of Indians abroad,” said Abdulfattah Sharaf, UAE chief executive and head of international at HSBC.
“India is already the UAE’s second largest trading partner and as both economies continue to prosper and grow, so will the ambitions of Indian entrepreneurs, businesses and high-net-worth individuals based here.”
However, a separate survey this week by Standard Chartered found that 43 per cent of affluent individuals in the UAE believe the Covid-19 pandemic weakened their confidence in their finances and prevented them from achieving new financial goals.
Thirty-five per cent of affluent people surveyed in the country said financial market volatility was the main cause of their diminished confidence, 30 per cent cited a fear of poor returns on investments, while 26 per cent said the complexity of developing an investment strategy was a deterrent, Standard Chartered found.
The UAE economy continues to recover from the coronavirus-induced slowdown, aided by Dh388 billion ($105.6bn) worth of economic support measures.
Other government initiatives such as retiree visas, remote working visas and the expansion of the 10-year golden visa programme to encourage foreign professionals to settle in the country, have also helped to improve investment sentiment.
Fifty-six per cent of UAE-based Indians consider property to be the most attractive investment asset class, while 51 per cent said they would fund UAE businesses and 40 per cent prefer to buy stocks and shares, the HSBC report found.
About 87 per cent of affluent Indians are already investing in the UAE, while 93 per cent have invested in their home country.
Sustainability also plays a major role in Indian investors’ decision making, the report found. About 78 per cent of UAE-based Indians said environmental and social initiatives matter to them when making investment decisions.
Of this, 35 per cent cited recycling and 34 per cent mentioned skills development, HSBC said.
This is especially true for 91 per cent of affluent global Indians and 80 per cent of those aged above 30, according to the report.
This chimes with research by Swiss investment bank UBS this month that found investors in the UAE are increasingly seeing benefits from integrating sustainable investing in their portfolio, with 93 per cent saying it is a crucial part of their financial strategy.
UAE-based affluent Indians believe technology and tourism sectors are most likely to perform strongly in the Emirates over the next decade, HSBC research found.
Meanwhile, 84 per cent of UAE-based Indians are happy, according to the poll, 88 per cent said they feel safe and 72 per cent said they are financially secure.
Despite the upheaval caused by the Covid-19 pandemic, majority of UAE-based wealthy Indians said they are feeling optimistic about their future, with many planning to invest, according to HSBC.
Visit Abu Dhabi culinary team's top Emirati restaurants in Abu Dhabi
Yadoo’s House Restaurant & Cafe
For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.
Golden Dallah
For the cappuccino, luqaimat and aseeda.
Al Mrzab Restaurant
For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.
Al Derwaza
For the fish hubul, regag bread, biryani and special seafood soup.
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The stats
Ship name: MSC Bellissima
Ship class: Meraviglia Class
Delivery date: February 27, 2019
Gross tonnage: 171,598 GT
Passenger capacity: 5,686
Crew members: 1,536
Number of cabins: 2,217
Length: 315.3 metres
Maximum speed: 22.7 knots (42kph)
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
More from Rashmee Roshan Lall
MATCH INFO
Arsenal 1 (Aubameyang 12’) Liverpool 1 (Minamino 73’)
Arsenal win 5-4 on penalties
Man of the Match: Ainsley Maitland-Niles (Arsenal)
Evacuations to France hit by controversy
- Over 500 Gazans have been evacuated to France since November 2023
- Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
- The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
- Artists and researchers fall under a programme called Pause that began in 2017
- It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
- Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
- Unlike students, they are allowed to bring their families to France
SCORES IN BRIEF
Lahore Qalandars 186 for 4 in 19.4 overs
(Sohail 100,Phil Salt 37 not out, Bilal Irshad 30, Josh Poysden 2-26)
bt Yorkshire Vikings 184 for 5 in 20 overs
(Jonathan Tattersall 36, Harry Brook 37, Gary Ballance 33, Adam Lyth 32, Shaheen Afridi 2-36).
Zombieland: Double Tap
Director: Ruben Fleischer
Stars: Woody Harrelson, Jesse Eisenberg, Emma Stone
Four out of five stars
Dates for the diary
To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:
- September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
- October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
- October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
- November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
- December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
- February 2, 2018 Bodytree will host its 4th annual yoga market.
Day 5, Dubai Test: At a glance
Moment of the day Given the problems Sri Lanka have had in recent times, it was apt the winning catch was taken by Dinesh Chandimal. He is one of seven different captains Sri Lanka have had in just the past two years. He leads in understated fashion, but by example. His century in the first innings of this series set the shock win in motion.
Stat of the day This was the ninth Test Pakistan have lost in their past 11 matches, a run that started when they lost the final match of their three-Test series against West Indies in Sharjah last year. They have not drawn a match in almost two years and 19 matches, since they were held by England at the Zayed Cricket Stadium in Abu Dhabi in 2015.
The verdict Mickey Arthur basically acknowledged he had erred by basing Pakistan’s gameplan around three seam bowlers and asking for pitches with plenty of grass in Abu Dhabi and Sharjah. Why would Pakistan want to change the method that has treated them so well on these grounds in the past 10 years? It is unlikely Misbah-ul-Haq would have made the same mistake.
T10 Cricket League
Sharjah Cricket Stadium
December 14- 17
6pm, Opening ceremony, followed by:
Bengal Tigers v Kerala Kings
Maratha Arabians v Pakhtoons
Tickets available online at q-tickets.com/t10
MATCH INFO
Maratha Arabians 107-8 (10 ovs)
Lyth 21, Lynn 20, McClenaghan 20 no
Qalandars 60-4 (10 ovs)
Malan 32 no, McClenaghan 2-9
Maratha Arabians win by 47 runs
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Miss Granny
Director: Joyce Bernal
Starring: Sarah Geronimo, James Reid, Xian Lim, Nova Villa
3/5
(Tagalog with Eng/Ar subtitles)
Zayed Sustainability Prize
The five pillars of Islam
