When I was based in Hong Kong, I lived in a place where the residents weren't allowed to own a car.
Instead, the developer that owned and operated the "resort" community deemed that we could drive golf carts.
Demand, of course, exceeded supply and there was a long waiting list.
It was an intentional strategy because the supplier of the golf carts also happened to be the developer of the "toy-town" community I was living in. By slapping a premium price on them, the developer had guaranteed itself a staggering profit for something that, in the real world, didn't cost very much at all.
So property-owning residents (you couldn't own a cart if you were a renter, although renters could rent one from the owners) forked out in excess of HK$300,000, or a tidy Dh142,000, for the privilege of owning one.
In the real world (and depending on who you ask), a new golf cart can cost about US$4,500 (Dh16,527), and a used one as little as $500.
The smart residents who were gifted with a golf cart immediately put them on the market and rented them out to other residents desperate for their own set of wheels, even if it should only have been carrying a golf bag. Regular reports of children flying out of them when they turned a corner did nothing to dampen demand, while the local doctor did a roaring trade treating golf-buggy injuries. I think anything that has two pedals with the words "stop" and "go" imprinted on them and costs HK$10,000 a month to rent (more than what I was paying for my three-bedroom, two bathroom, sea-view flat in Hong Kong) is a waste of money. But, as they say, each to their own.
Which brings me to Singapore, where it costs more to buy a new car than it does for an average home in the United States.
According to Bloomberg News, car buyers in Singapore not only have to worry about the cost of the car they want to buy, but also the mandatory certificate of entitlement that goes with it, which is auctioned by the government to help it control congestion. The cost of these permits hit S$86,889 (Dh249,871) at the last auction - their highest level in 17 years. Ouch. Three years ago, they were going for a more reasonable S$8,501.
According to Bloomberg's figures, a new 2012 Passat saloon costs about US$152,000 (Dh558,326) in Singapore, including the certificate of entitlement. "The median price of a US metropolitan area home is $158,100," Bloomberg says.
"You're pitting the rich against the poor and guess who wins?" Chee Soon Juan, the head of the opposition Singapore Democratic Party, told Bloomberg.
At least they don't have to drive around in overpriced golf carts.
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Retirement, many would say, is a rite of passage, up there with your first day of school, your first bank account, your first job, buying a home and having a family. After years of hard work, the right to retire at an age when you can still, supposedly, enjoy life is a given. But perhaps not anymore.
Although some western governments have already raised the age of retirement because they can't afford for their citizens to enjoy their golden years in a timely manner, one company chief has looked into his crystal ball and is forecasting we'll have no choice but to work longer as our life expectancies increase.
"Retirement ages will have to move to 70, 80 years old," Robert Benmosche, the sprightly 68-year-old chief executive of American International Group, told Bloomberg. "That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of the youth."
Imagine the savings companies will make if they don't have to bother with the traditional retirement gift of a clock. Then again, they'll need to install something akin to an umbrella holder for the safe storage of all those walking sticks.
More coverage from the Future Forum
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
If you go
The flights
The closest international airport for those travelling from the UAE is Denver, Colorado. British Airways (www.ba.com) flies from the UAE via London from Dh3,700 return, including taxes. From there, transfers can be arranged to the ranch or it’s a seven-hour drive. Alternatively, take an internal flight to the counties of Cody, Casper, or Billings
The stay
Red Reflet offers a series of packages, with prices varying depending on season. All meals and activities are included, with prices starting from US$2,218 (Dh7,150) per person for a minimum stay of three nights, including taxes. For more information, visit red-reflet-ranch.net.
Company%20profile
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South Africa squad
Faf du Plessis (captain), Hashim Amla, Temba Bavuma, Quinton de Kock (wicketkeeper), Theunis de Bruyn, AB de Villiers, Dean Elgar, Heinrich Klaasen (wicketkeeper), Keshav Maharaj, Aiden Markram, Morne Morkel, Wiaan Mulder, Lungi Ngidi, Vernon Philander and Kagiso Rabada.
COMPANY%20PROFILE
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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
Tell-tale signs of burnout
- loss of confidence and appetite
- irritability and emotional outbursts
- sadness
- persistent physical ailments such as headaches, frequent infections and fatigue
- substance abuse, such as smoking or drinking more
- impaired judgement
- excessive and continuous worrying
- irregular sleep patterns
Tips to help overcome burnout
Acknowledge how you are feeling by listening to your warning signs. Set boundaries and learn to say ‘no’
Do activities that you want to do as well as things you have to do
Undertake at least 30 minutes of exercise per day. It releases an abundance of feel-good hormones
Find your form of relaxation and make time for it each day e.g. soothing music, reading or mindful meditation
Sleep and wake at the same time every day, even if your sleep pattern was disrupted. Without enough sleep condition such as stress, anxiety and depression can thrive.
In numbers
Number of Chinese tourists coming to UAE in 2017 was... 1.3m
Alibaba’s new ‘Tech Town’ in Dubai is worth... $600m
China’s investment in the MIddle East in 2016 was... $29.5bn
The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn
Boost to the UAE economy of 5G connectivity will be... $269bn
The specs: 2018 Dodge Durango SRT
Price, base / as tested: Dh259,000
Engine: 6.4-litre V8
Power: 475hp @ 6,000rpm
Torque: 640Nm @ 4,300rpm
Transmission: Eight-speed automatic
Fuel consumption, combined: 7.7L / 100km
