Emiratis travelling to a number of European countries are urged to be cautious and vigilant, due to a high number of thefts involving UAE nationals.
The Ministry of Foreign Affairs said UAE nationals travelling to the UK, Spain, Italy, Georgia, France and Austria should be particularly careful.
It comes as Albanian and Libyan Rolex gangs have been targeting Europe.
The organised gangs use spotters to identify victims in high-end areas and then send in thieves in getaway vehicles to rob them.
The “Rolex Ripper” crime wave has seen the number of watches stolen nearly double in England and Wales between 2015 and 2022, to 11,035, according to figures from Watchfinder UK.
There have been so many robberies that some international business executives have voiced concerns about visiting even the most high-end parts of London for fear their expensive watches will be stolen.
The stolen watch database shows that last year there was a 56 per cent surge in thefts in the UK capital, with 6,000 watches stolen.
Police in Paris recently dismantled a gang of watch Algerian watch robbers, who went after timepieces worth €60,000 to €80,000 ($65,000 to $86,000) in upmarket areas of the French capital, which has also been experiencing a surge in robberies.
Another gang, which included an Algerian and a Moroccan, stole luxury watches worth €170,000, after travelling to the holiday island of Majorca from Barcelona.
According to Spain's national police, gangs based in Italy often recruit young men of North African origin to carry out watch robberies in areas popular with holidaymakers.
In the winter they travel to the Canary Islands to commit crimes, taking advantage of the good weather and tourism.
As Emiratis head to Europe this summer, the ministry has issued the warning for people to be vigilant.
It has advised Emiratis to:
- Avoid wearing valuable or rare items
- Keep official documents secure
- Book cars and hotels through reputable global companies
Emiratis were also encouraged to visit the ministry's website to stay updated with travel advice.
The ministry's emergency contact number for UAE nationals is: 0097180024.
10 most expensive watches stolen in the UK – in pictures
Race card
5.30pm: Maiden (TB) Dh82,500 (Turf) 1,400m
6.05pm: Handicap (TB) Dh87,500 (T) 1,400m
6.40pm: Handicap (TB) Dh105,000 (Dirt) 1,400m
7.15pm: Handicap (TB) Dh105,000 (T) 1,200m
7.50pm: Longines Stakes – Conditions (TB) Dh120,00 (D) 1,900m
8.25pm: Zabeel Trophy – Rated Conditions (TB) Dh120,000 (T) 1,600m
9pm: Handicap (TB) Dh105,000 (T) 2,410m
9.35pm: Handicap (TB) Dh92,500 (T) 2,000m
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UAE currency: the story behind the money in your pockets
The currency conundrum
Russ Mould, investment director at online trading platform AJ Bell, says almost every major currency has challenges right now. “The US has a huge budget deficit, the euro faces political friction and poor growth, sterling is bogged down by Brexit, China’s renminbi is hit by debt fears while slowing Chinese growth is hurting commodity exporters like Australia and Canada.”
Most countries now actively want a weak currency to make their exports more competitive. “China seems happy to let the renminbi drift lower, the Swiss are still running quantitative easing at full tilt and central bankers everywhere are actively talking down their currencies or offering only limited support," says Mr Mould.
This is a race to the bottom, and everybody wants to be a winner.
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
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The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
Sholto Byrnes on Myanmar politics
