With reference to the article by Jennifer Gnana Abu Dhabi invites Indian companies to invest in its downstream sector (October 16), it was fascinating to read about the invitation from Adnoc group chief executive and Minister of State Dr Sultan Al Jaber to Indian Prime Minister Narendra Modi regarding the expansion of Indian oil companies wanting to invest in the UAE. The UAE and India share a long history and decades of bonding with each other in trade, manpower and strategic ties, so I am confident Mr Modi will consider this invitation most positively.
K Ragavan, Bengaluru
The tragic demise of brilliant minds is always hard to bear
Regarding your online story Microsoft co-founder Paul Allen dies of cancer at 65 (October 16), it is always sad to read about the early demise of brilliant people. Sixty-five is no age to go. When will they finally find a cure for cancer?
Angelika Lancsak, London
Teachers need plenty of support to cope with stress
With regards to your story UAE offers lifeline to troubled teachers (October 16), I was just thinking how good it would be to have something like this for educators. It is just as important, if not more, as having a teacher of the year award.
Sandra Costa, Dubai
This is very much needed in our profession.
Name withheld by request
Readers react to Khalaf Al Habtoor’s candid interview
With reference to your story Leading Emirati businessman calls for reassessment of VAT in UAE (October 14), I agree it can be a nightmare for businesses, especially those in some free zones and has allowed some retail businesses to raise prices by as much as 25 per cent using VAT as an excuse. Western economies tell us there is no correlation between more taxes and a budget surplus. Just look at France, which is the worst counter example.
Anne-Sophie Perret, Dubai
More people should take his advice. I agree with him that the ban on WhatsApp and Skype calls should be lifted. I am sure he has more good ideas up his sleeve.
Wiltrud Eva, Dubai
He has articulated what I was feeling. I’m glad this has been raised.
Sammira Mohiadeen, Dubai
He has always been a hero to me and my family, a true champion of the people and a man to respect and look up to for his wisdom and compassion.
Tanya Millbourne, UAE
Not every habit get passed down to the next generation
With regards your column How our parents handle money affects our financial behaviour as adults (October 11), which suggested the money narratives of our childhood colour our financial behaviour as adults and that we repeat what we were exposed to, I would have to disagree. It doesn't. I should know as I am terrible with money.
Name withheld by request
Results
4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m; Winner: MM Al Balqaa, Bernardo Pinheiro (jockey), Qaiss Aboud (trainer)
5pm: Jabel Faya – Maiden (PA) Dh60,000 (T) 1,000m; Winner: AF Rasam, Tadhg O’Shea, Ernst Oertel
5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel
6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m; Winner: Mujeeb, Richard Mullen, Salem Al Ketbi
6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m; Winner: Jawal Al Reef, Antonio Fresu, Abubakar Daud
7pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m; Winner: Ashton Tourettes, Pat Dobbs, Ibrahim Aseel
7.30pm: Jebel Hafeet – Maiden (TB) Dh80,000 (T) 1,400m; Winner: Nibraas, Richard Mullen, Nicholas Bachalard
Results:
6.30pm: Maiden | US$45,000 (Dirt) | 1,400 metres
Winner: Tabarak, Royston Ffrench (jockey), Rashed Bouresly (trainer)
7.05pm: Handicap | $175,000 (Turf) | 3,200m
Winner: Dubhe, William Buick, Charlie Appleby
7.40pm: UAE 2000 Guineas Group 3 | $250,000 (D) | 1,600m
Winner: Estihdaaf, Christophe Soumillon, Saeed bin Suroor
8.15pm: Handicap | $135,000 (T) | 1,800m
Winner: Nordic Lights, William Buick, Charlie Appleby
8.50pm: Al Maktoum Challenge Round 2 Group 2 | $450,000 (D) | 1,900m
Winner: North America, Richard Mullen, Satish Seemar
9.25pm: Handicap | $175,000 (T) | 1,200m
Winner: Mazzini, Adrie de Vries, Fawzi Nass
10pm: Handicap | $135,000 (T) | 1,400m.
Winner: Mubtasim, William Buick, Charlie Appleby
The biog
Name: Fareed Lafta
Age: 40
From: Baghdad, Iraq
Mission: Promote world peace
Favourite poet: Al Mutanabbi
Role models: His parents
How the UAE gratuity payment is calculated now
Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.
The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.
1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):
a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33
b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.
2. For those who have worked more than five years
c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.
Note: The maximum figure cannot exceed two years total salary figure.
COMPANY%20PROFILE
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