EXPLAINED: UAE's visa-on-arrival scheme for Indian nationals
The UAE has expanded its visa-on-arrival scheme for Indians to include those with valid visas, residence permits or Green Cards from six new countries.
Previously it was the case that Indian visitors with proof of residence in only the EU, the US or the UK would automatically qualify for a visa on arrival. Now that has been extended to those with "a valid visa, residence permit or green card" from Singapore, Japan, South Korea, Australia, New Zealand and Canada, state news agency Wam reported.
Visitors from India to the UAE, who are not residents in countries on the approved nations list, have to supply information to authorities in advance of being granted a visa.
Indian passport holders who are eligible for the preapproved visa on arrival can apply either through the Federal Authority for Identity and Citizenship, Customs and Ports Security or through the General Directorate of Residency and Foreigners Affairs – Dubai website, by first creating an account.
"This initiative aims to boost tourism, attract top talent, skilled workers and entrepreneurs, and further solidify the UAE's position as a leading global hub," reported Wam. "A six-month passport validity and payment of prescribed fees are required in accordance with the applicable regulations."
Asia Cup Qualifier
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UAE v Hong Kong
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US households add $601bn of debt in 2019
American households borrowed another $601 billion (Dh2.2bn) in 2019, the largest yearly gain since 2007, just before the global financial crisis, according to February data from the New York Federal Reserve Bank.
Fuelled by rising mortgage debt as homebuyers continued to take advantage of low interest rates, the increase last year brought total household debt to a record high, surpassing the previous peak reached in 2008 just before the market crash, according to the report.
Following the 22nd straight quarter of growth, American household debt swelled to $14.15 trillion by the end of 2019, the New York Fed said in its quarterly report.
In the final three months of the year, new home loans jumped to their highest volume since the fourth quarter of 2005, while credit cards and auto loans also added to the increase.
The bad debt load is taking its toll on some households, and the New York Fed warned that more and more credit card borrowers — particularly young people — were falling behind on their payments.
"Younger borrowers, who are disproportionately likely to have credit cards and student loans as their primary form of debt, struggle more than others with on-time repayment," New York Fed researchers said.
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The specs
Engine: 3.5-litre V6
Power: 272hp at 6,400rpm
Torque: 331Nm from 5,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.7L/100km
On sale: now
Price: Dh149,000
