December 2022 | Page 2 of 3 | The Dubai Headlines

Entrepreneur

Interview: Ranjit Phillipose, General manager at Taj Exotica Resort & Spa

head dubai December 21, 2022 No Comments

Taj Exotica Resort & Spa, The Palm, Dubai, strengthens the Taj brand portfolio in the UAE and complements the other two city hotels as an upscale luxury resort

I joined the hospitality industry as a Front Office Executive straight after college at Taj Coromandel in Chennai, India. After spending six successful years in various positions, I moved to St James’ Court, London, a Taj Hotel, in 1999. In London, I continued to advance through front-of-house management roles and was also instrumental in opening three prestigious Taj Hotels in Mumbai, Seychelles, and Mauritius. In 2005, I moved to the United States as Director of Rooms at The Pierre in New York and then as Hotel Manager at the Taj Boston. During this time in the US, I also managed the successful pre-opening of Taj Campton Place in San Francisco.

I was appointed General Manager of Taj Falaknuma Palace in Hyderabad in 2009, supervising the ambitious $50m restoration project. Following that, I became General Manager of Taj Exotica Resort and Spa, Maldives. In 2015, I was promoted to Area Director and General Manager of Taj Exotica Resort and Spa in Goa, which then managed four hotels. My next exciting project in 2016 was to lead the Taj Dubai in Downtown Dubai. Having established the hotel as among the most successful hotels in the city, I was then promoted to Area Director across the Middle East and General Manager of Taj Exotica Resort & Spa, The Palm, Dubai.

How is the new Taj in Palm unique in the hospitality space. What are its various offerings? Elaborate

Taj Exotica Resort & Spa, The Palm, Dubai, strengthens the Taj brand portfolio in the UAE and complements the other two city hotels as an upscale luxury resort. With our three distinctive hotels in the region, we are now able to cover all segments of business and leisure. We also have a loyal following from our Indian guests and NeuPass members.

The resort offers incredible panoramic views of the Dubai skyline and the Palm’s shoreline, it is the only resort that can offer views in two directions, which really gives a full “island oasis” feel. All 258 rooms and 67 suites feature balconies and are designed with the guests’ comfort and enjoyment in mind. Those staying will be fully immersed in “Tajness” including the renowned rituals which complement the stay. The 6 rituals cover the arrival (welcome), morning, afternoon, sunset, sleep and departure with specially curated experiences.

Guests are taken on a sensorial culinary journey across the resort’s seven dining and bar options. With everything from contemporary Indian fine dining at Varq, a unique gastropub experience at the Roaring Rabbit, and the stunning lifestyle destination Raia Restaurant & Lounge offering panoramic views of Palm Jumeirah and Dubai’s skyline. When you step outside, you are greeted with the massive outdoor pool measuring just over 70m, and a private 230-meter exclusive beach with pristine golden sands and uninterrupted views of the glorious sunsets.

The resort features the award-winning spa, JIVA. Inspired by traditional healing methods, the ethos of the carefully curated Jiva treatments is drawn from the rich and ancient Indian wellness heritage. A major attraction for our young guests is the Popsicle Kids club and a Game Room for teenagers and the young at heart. Taj Exotica Resort & Spa, The Palm, Dubai is truly a resort that has something for everyone. Whether you’re looking for a romantic or family getaway or wellness destination to truly unwind, there’s an immersive experience for everyone.

How have you established Taj Exotica Palm as a force to be reckoned with by blending the brand’s essence and India’s rich heritage with Middle Eastern elements.

Blending Indian hospitality with Middle Eastern generosity is a winning combination, as both cultures complement one another. As an Indian brand, our rich culture and heritage are always at the heart of what we do. This is elevated by gracefully incorporating Middle Eastern elements and touches into our offerings and services, such as:

A traditional Indian welcome that includes a diya and a garland is also accompanied by Arabic coffee and dates offering
A part of Taj’s culture, as the sun sets, we welcome the evening with the ceremonial lighting of traditional lamps that dispense light and hope, and we complement this ceremony with the burning of an Arabic Oud. Burning an oud is considered an essential customary tradition within the Arab world, particularly in the Middle East, as a symbol of warm hospitality
At Raia Restaurant and Lounge, we offer Middle Eastern cuisine

Our resort caters to all clientele, from families to couples or bleisure, extravaganza getaways to destination weddings, delicious brunches or dinners, relaxing at our award-winning JIVA spa, spending a day in the sun by the pool or on the beach, or simply taking in the gorgeous sunset view from the comfort of your room, there is so much to enjoy at the resort that repeat visits are necessary to truly enjoy it.

Can you share insights into your performance, growth, and milestones of Taj properties in Dubai over the last 2 years and walk us through your future plans?

Both Taj Dubai and Taj JLT have received numerous recognitions from partners and reputable institutions in the last 12 months. In addition to new brunches at Bombay Brasserie’s Saturday Jazz Brunch and Treehouse’s Secret Wonderland Brunch, Taj Dubai introduced new service improvements such as an interactive kitchen dining experience and room automation projects. Taj JLT successfully launched the newest go-to Pan Asian restaurant in the city, NONYA, last February 2022, while TJ’s Playground is the pop-up for the FIFA season.

The highlight of the year 2022 was the opening of the Taj Exotica Resort & Spa, The Palm, Dubai, our first resort in the Middle East, located on the world’s most famous man-made island – The Palm Jumeirah. The resort has experienced record occupancy and is enjoying the more recent boom in tourism thanks to the World Cup 2022 taking place this month. Another exciting development would be opening our fourth property in Deira Creek. In December 2022, IHCL signed up for a hotel opening in Saudi Arabia, making it our second hotel in the country.

Entrepreneur

Dubai’s GDP grows 4.6% during first nine months of 2022

head dubai December 21, 2022 No Comments

The emirate hosted 10.12 million international visitors from January through September 2022, compared to 3.85 million welcomed during the same period last year

“Dubai’s economy is founded on strong principles of income diversification by developing strategic sectors, promoting future-focused economic activities, implementing prudent fiscal policies, and constantly upgrading regulatory and legal frameworks to encourage investment and support business,” said Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council.

“Our strong partnership with the private sector, both locally and internationally, is a key enabler for sustaining our growth with a clear vision to maintain Dubai’s position at the forefront of various international competitiveness indicators,” he added.

The wholesale and retail trade sector reached a value of Dhs74bn during the first nine months of 2022, growing year-on-year by 1.6 per cent. The activity accounted for 24.1 per cent of Dubai’s nine-month GDP and contributed 9 per cent to the emirate’s GDP growth, according to an economic report by the Dubai Digital Authority’s Dubai Statistics Centre.

The transport and storage sector, meanwhile, reached a value of Dhs35.8bn during the first nine months of the year, growing by 26.3 per cent compared with the same period in 2021. The activity includes transportation of passengers and cargo by rail, road, water or air as well as associated activities such as terminal and parking facilities, cargo handling, storage facilities, etc.

Dubai’s airlines witnessed a 151 per cent increase in the number of passengers during January-September, compared to a year-earlier period.

In terms of growth in the first nine months of 2022, hospitality and F&B outperformed all other economic activities. The accommodation and food services activity reached a value of Dhs15.8bn during the first nine months of 2022, growing 28 per cent compared with the same period in 2021. The sector accounted for a 5.1 per cent share of Dubai’s GDP and a 26 per cent share of GDP growth during the nine months.

“These positive economic indicators validate both the strength of Dubai’s business ecosystem to achieve robust and sustainable growth, and the government’s business-enabling policies, attractive fiscal measures, and investor-centric approach in delivering this,” said Helal Saeed Al Marri, director general of Dubai’s Department of Economy and Tourism (DET).

“We strive to further improve the competitiveness of our economic and tourism pillars and related sectors, such as trade, retail, restaurants, and hotels – all of which have witnessed high growth.”

Dubai hosted 10.12 million international visitors from January to September 2022, growing 163 per cent year-on-year, from 3.85 million visitors welcomed during the same period of last year, according to DET data.

Dubai’s real estate activity grew by 2.5 per cent year-on-year during January-September, accounting for a 9.1 per cent share of the emirate’s GDP and contributing 5 per cent to its overall GDP growth.

The growth results from a 76 per cent year-on-year increase in real estate sales during the first nine months of the year, according to Dubai Land Department data. Meanwhile, financial and insurance activities reached a value of Dhs32.8bn during the first nine months of 2022, growing by 1.2 per cent compared to 2021.

Business

Dubai Internet City to house additional tech players with new $120m investment

head dubai December 21, 2022 No Comments

Innovation Hub Phase 1 is approaching full capacity, housing tech players such as Google, Hewlett-Packard and Gartner.

The group is expanding its leasing portfolio to capture the increasing demand in Dubai’s commercial real estate market underpinned by the emirate’s economic development and the government’s pro-growth strategies, a statement said.

The Dhs442m new investment will offer customers commercial office properties, working spaces and headquarters tailored to customer specifications.

The Innovation Hub Phase 2 will have two high-end office buildings, four boutique offices, retail spaces and more than 800 parking spaces.

To be completed by 2024, it will provide more than 355,000 square feet of gross leasable area.

Launched in 2018, the first phase of the Innovation Hub is almost at full capacity, housing tech players such as Google, Hewlett-Packard, Gartner and China Telecom.

With additional stages in the pipeline, the completed Innovation Hub project is expected to add more than 1.2 million square feet of space for technology, education and new media businesses of all sizes to the group’s portfolio.

“Tecom Group remains a pillar for Dubai’s business hub proposition. New regulatory frameworks and the ease of doing business are accelerating economic growth and reinforcing investor and business confidence,” said Abdulla Belhoul, chief executive officer of Tecom Group.

“We’re seeing the success of our leadership’s economic diversification strategy reflected in our commercial and industrial real estate portfolio performance this year due to an influx of new companies and talent.”

“Across our portfolio, existing customers are expanding their operations, complemented by an inflow of new foreign investment. Bespoke solutions like the Innovation Hub address the need for high-quality commercial spaces, helping strengthen Dubai’s position as an attractive global business and talent hub. It also cements Tecom Group as the emirate’s largest commercial real estate owner and our key role in driving innovation and business growth development in Dubai.”

Meanwhile, Tecom Group’s Q3 2022 financial performance reflected the upward trend in the commercial real estate market.

Revenue came in at Dhs490m, increasing 12.48 per cent year-on-year, driven by rising occupancy levels across the portfolio, especially office, warehouse and worker accommodation.

Tecom Group has cultivated a global business and technology hub under Dubai Internet City. Today, it represents a community of Fortune 500 companies, SMEs, startups and entrepreneurs.

Recent additions include Motorola Solutions and Intel, while customers 3M, Visa and Meta upgraded to new headquarters this year.

Dubai Internet City also features over 15 innovation centres powered by customers like Visa, MasterCard, SAP, Google and 3M.

Ammar Al Malik, executive vice president – Commercial Leasing, Tecom Group, stated: “Dubai’s pursuit of a knowledge and innovation economy relies on a robust technology framework. For more than 20 years, Dubai Internet City has provided the necessary infrastructure and environment where the complete tech community can converge. Ready-to-use facilities like our Innovation Hub enable customers to hit the ground running. Expanding our district’s commercial offering to cater to the Emirate’s growing business appetite will enrich our global community with innovation-driven brands and talent.”

Uncategorized

Dubai realty records over AED1.3 bn transactions on Monday

head dubai December 20, 2022 No Comments

Dubai real estate market recorded 476 sales transactions worth AED1.17 billion, in addition to 92 mortgage deals of AED181.95 million, and 20 gifts deals amounting to AED35.42 million on Monday, data released by Dubai’s Land Department (DLD) showed.

The sales included 430 villas and apartments worth AED845.38 million, and 46 land plots worth AED322.29 million, while mortgages included 73 villas and apartments worth AED120.07 million and 19 land plots valued at AED61.88 million, bringing the total realty transactions of today to over AED1.3 billion.

Business

UAE: 5 new laws that will come into effect in 2023

head dubai December 20, 2022 No Comments

These include a plastic ban will be imposed across more emirates; sales outlets must charge 25 fils extra per plastic bag shoppers use as of next year.

2022 has been a year of labour reforms and a new visa regime. As we gear up to step into New Year, there are a number of new laws that will also come into effect from next year. These include Emiratisation targets for companies, the introduction of corporate tax, mandatory insurance against job loss, imposition of the plastic ban across more emirates, and personal status law for non-Muslims.

Below are the details of laws that will come into effect in 2023:

Mandatory job insurance [Starting January 1, 2023]

Purchasing insurance against job loss is mandatory for employees working in the private sector and federal government departments

Investors and business owners who own and manage their business themselves, domestic workers, employees on a temporary basis, juveniles under the age of 18 and retirees who receive a pension and have joined a new employer exempted

Workers with a basic salary of Dh16,000 or less will need to pay a monthly insurance premium of Dh5, i.e. Dh60 annually

Compensation for this category must not exceed a monthly amount of Dh10,000

While those with a basic salary exceeding Dh16,000 will need to pay Dh10 per month, i.e. Dh120 annually

Compensation for this category must not exceed Dh20,000 monthly.

Employees can choose to pay the premium on a monthly, quarterly, half-yearly or annual basis

Worker may coordinate with the insurance company to subscribe to additional benefits

Workers can subscribe through the insurance pool’s website (www.iloe.ae) and smart application, bank ATMs and kiosk machines, business service centres, money exchange companies, du, Etisalat and SMS.

The scheme will be offered by the Dubai Insurance Company, which is the representative of the insurance pool consisting of nine companies.

Corporate tax [Comes into effect from June 1 2023]

Firms posting Dh375,000 profit per annum to pay 9% tax

The tax will be levied on the profit, not on the total turnover, of the company

It will not be applicable to the salary of the residents

Individuals holding the freelance permit, under the self-sponsorship and earning income in excess of the threshold will be subject to corporate tax.

It will also not be applicable to the personal income earned from bank deposits, savings programmes and investments, dividends, or foreign exchange gains.

If real estate income is derived from economic activity (Leasing, selling, transferring, etc.) it may be subject to corporate tax basis as conditions are stipulated in the executive decision in this regard. However if income is earned from real estate investment where commercial activities are performed by the investment manager, it may qualify as exempt income.

Non-residents are also subject to corporate tax if they have a permanent establishment in UAE as well as on state-sourced income (I.e., from the sale of goods, provision of services etc.) in the country. Non-residents’ income from operating aircraft, and ships in international space is not subject to corporate tax. A non-resident is not subject to corporate tax on income earned through an investment manager on real estate or any other investment.

Qualifying Free zone person which fulfills all conditions specified in the Executive Regulations of the UAE Corporate Tax Law will be exempt. Natural resource extraction activities are also exempted, however, they’re subject to existing emirate-level taxation. Government entities’ activities (Excluding commercial activities), pension funds, investment funds and public benefit organisations are exempt from the corporate tax.

Emiratisation target

It’s mandatory for companies with more than 50 employees to achieve an Emiratisation rate of 2% for skilled jobs to avoid penalties

Non-compliant companies will face financial penalties, which will be collected starting from January 2023.

A monthly fine of Dh6,000 will be imposed for every UAE national that has not been appointed. And the fine will be paid in a single instalment.

If a UAE citizen hired by a private company resigns, the firm will have to get an Emirati replacement to meet the Emiratisation target.

Companies that successfully achieve Emiratisation targets will receive major incentives, including discounts of up to 80 per cent on MoHRE fees.

Personal status law

New personal status law on all non-Muslim foreigners will come into effect from February 1, 2023

The provisions will apply to non-Muslim foreigners residing in the country unless someone adheres to the application of his country’s law.

Non-Muslim foreigners may agree to implement other legislation on family or personal status in force in the UAE instead of the provisions of this Decree-Law.

The new law covers the marriage conditions and the procedures of contracting and documenting the marriage before the competent courts.

It also specifies the procedures of divorce that can be initiated jointly or unilaterally.

It organises the procedures for settling the financial claims after divorce and the arrangement of joint custody for the children.

The law organises the procedures for inheritance and testaments (wills) and proofs of paternity.

Plastic ban

Ajman and Umm Al Quwain will ban single-use plastics from January 2023

Sales outlets must charge 25 fils extra per plastic bag shoppers use as of next year.

Retailers in Abu Dhabi, Dubai, and Sharjah already charge 25 fils per bag to consumers to reduce use of single-use bags and plastic in the country.

Entertainment

Explore OliOli, Dubai’s first experiential play museum

head dubai December 20, 2022 No Comments

Dubai is anyone’s dream destination. Dubai offers activities of a diverse range that can entertain people from all walks of life. From kids to senior citizens, everyone visiting the city leaves with loads of hearty memories to share.

OliOli is one such place in Dubai that has the potential of entertaining both kids and adults with the unlimited fun they offer.

What is OliOli Dubai?

OliOli Dubai is a one-of-its-kind experiential museum in the region for kids. The kids find the place extremely entertaining, whereas adults also can have a fair share of fun during their time here. OliOli provides many fun activities all at once that kids would not want to leave the place even after hours of playing at the place.

The name OliOli is derived from the Hawaiian word ‘Olioli’ which translates to joy. Joy is the pure definition that could be given to OliOli Dubai with its eight galleries spreading across two floors. The place offers an exceptional immersive sensory experience to visitors.

OliOli creators have carefully designed the place with art and modern equipment required to have a time filled with not just fun, but also some great learning experience. The idea behind OliOli is curated by drawing inspiration from leading global educators, artists, and developmental psychologists.

OliOli is a perfect place for family bonding. Kids can find their talents or interests at OliOli and indulge in activities that could cultivate creativity, curiosity, and imagination.

OliOli has received various recognitions including Tripadvisor Traveller’s Choice Award in 2021.

What to do at OliOli Dubai?

OliOli Dubai is a perfect combination of family activities, education, recreation, and interactive experiences for developing minds. You can never run out of edutainment options at OliOli Dubai. Here are some of the fun things you can engage in while at OliOli Dubai.

OliOli Mess Fest 2022

OliOli Mess Fest is the messiest and most exciting event that is hosted by OliOli Dubai. It is scheduled to start on 24^th December 2022 and run until 28^th December 2022. They have turned their parking lot into a fun arena for the children to explore crazy colors, mad science, and epic bubbles.

OliOli has set up 5 stations for you to explore unlimited fun in their parking lot. The Bubble Party station includes fun activities with bubbles. You can explore exploding experiments like rainbow pop rockets and bubble worms. You can have fun at a bubble party with your friends and also experience being inside a giant bubble.

Mad Science is centered on science themes and experiments. You can explore the science behind rainbows, bubbles, and some epic explosions. You can also make your own bubbles at the station and experience your pop rockets taking off.

The Paint Palooza station is all about playing with colors. You can be the messiest and no one will judge you, sounds good right? Play with colors and unleash that creative genius inside you. You can also make use of the paint catapult, paint drums, and graffiti wall at the venue.

Oobleck offers you a chance to play with a non-newtonian liquid. The substance is neither solid nor liquid. This is the messiest experience at the OliOli MessFest 2022. Play with the goo-ey liquid to satisfy your guilty pleasures.

Splash Mania will help you get out of the mess you have created from the other stations. You can engage in a water battle with your friends.

Spend time at the galleries

OliOli Dubai offers more than 40 hands-on exhibits in its galleries. Their galleries are interactive and informative for the kids.

Air Gallery at OliOli is for those pilot aspirant kids. This section of the gallery offers various activities for kids which could foster their dream of becoming pilots someday. They can learn more about aerodynamics, gravity, and friction with the various floating installations in Bernaulli’s Blower. The kids can also experience Air Curtain and marvel at the 110 kph hurricanes at Hurricane Booth.

At the Air Gallery, kids are exposed to the principles of flight, wind, gravity, aerodynamics, friction, and resistance. The experiments at the air gallery also foster their fine motor skills, spatial skills, coordination, and problem-solving skills.

Water Gallery at OliOli Dubai features 10 interactive hands-on installations. Some of the fun activities you can do at the water gallery are dancing in the rain, playing with water vortex, firing a ball cannon, and washing a real car. From simple day-to-day play to scientific experiments, you can experience most of the water-splashing fun possible.

Water Gallery aims at educating the kids on the power and motion of earth’s most remarkable resource. They will also come across scientific principles regarding liquids like buoyancy, density, vortices, gravity, and so on. The experiments are curated to enhance social skills, critical thinking, and gross motor skills.

Toshi’s Net is all about fun. You can have all the excitement you experience on trampolines, the excitement you have on a playground, and also experience Alice in Wonderland-like adventures. This is one of the most vibrant-looking galleries with the major portion of the gallery filled with colorful woven strings that can hold up to 29 baby elephants.

Children can climb and explore through the nets resulting in the development of their fine and gross motor skills. The place knows no bounds to your creativity and imagination. Toshi’s Net will give them a small experience in risk-taking and also a chance at socializing.

Future Park at OliOli gives your kid an insight into the futuristic world. This space gets them to develop collaborative creativity to upscale their learning process. The main theme of teamLab Future Park is ‘Changing the Relationships Among People: Making the Presence of Other People a Positive Experience’.

The creators of teamLab intend to transform individual creativity into positive creative experiences for everyone and to create ‘co-creative’ activities in our daily lives.

Cars and Ramps is a perfect place for aspiring automotive engineers. Kids can design and engineer their own cars to race or jump over the towering ramps at OliOli. You can challenge your friends to engineer their own cars to race with yours on the tracks.

Cars and Ramps at OliOli open the world of physics in front of your kids. They can explore principles of acceleration, mass, gravity, friction, and laws of action at Cars and Ramps. Critical thinking and motor skills are developed through the trial-and-error process of engineering a car.

Incredi-Balls will operate in your creativity. There are 6 different installations at the gallery where you can roll your ball in style. Rolls, turns, bumps, and objects are placed along the path of the ball to direct the path to its home.

You can also build your own ball path. This will give you an idea of gravity at work, laws of motion, and experience kinetic energy. Incredi-Balls is all about building, adjusting, and collaborating. It can foster your kid’s observation skills, tracking skills, problem-solving skills, and design/spatial thinking skills.

Toddler Gallery is for kids under 2 years of age. The installations here focus on hands-on, sensory, tactile, and interactive open-ended plays. Toddler Gallery is specifically designed for toddlers to have a safe place where they can slowly explore things suitable for their age.

Toddler Gallery is designed to create wonder and development in the kids through active and sensory play. The holistic development of a toddler is one of the main focuses of this gallery.

Visit the Magical Winterland

Magical Winterland is a temporary exhibition happening at OliOli Dubai this winter. You can witness a beautiful miniature winter town. Magical Winterland is UAE’s largest miniature winter village.

The miniature town is built with 700 pieces featuring landmarks and citizens. You can also look for Winterland Express moving through the miniature town. Try to spot the winter carnival brimming with fun. Enjoy the scenic beauty of snow-capped mountains and frozen lakes in this miniature town.

You can also engage with the citizens of this merry village while discovering hidden portals in the winter town.

Host your little one’s birthday party

OliOli Dubai offers an opportunity for you to celebrate your kids’ birthdays at their place. The kids will surely have a good time at the place spending their time in a wholesome new experiential museum. While the kids are in the galleries having fun, you can relax at the café inside OliOli.

OliOli Dubai has two party packages including 90 minutes of play, yummy food for your kids, and a 30-minute birthday ceremony for the star of the day in the private party room.

The packages are priced at AED130 for a child on weekdays and AED150 on weekends. For guided play at any three galleries, additional AED15 will be charged.

How much does an OliOli Dubai ticket cost?

A two-hour OliOli’s standard visit ticket for a child (2-16 years) cost AED126 and for a toddler (12-23 months) it costs around AED63. A two-hour OliOli’s standard visit and Magical Winterland ticket for a child costs around AED146 and for a toddler it costs around AED73.

Every child ticket gives 1 adult access to OliOli Dubai. For extra adult admission, a ticket priced at AED42 should be purchased.

You can book your tickets in advance on their website.

What are the opening hours of OliOli Dubai?

OliOli Dubai is open from 9 am to 7 pm on Mondays, Tuesdays, Wednesdays, Fridays, and Sundays. On Thursdays, their operating hours are from 9 am to 6 pm while on Saturdays they are open until 8 pm.

How to reach OliOli Dubai?

OliOli Dubai is located in Dubai’s art district, Al Quoz. You can easily access the spot from Sheikh Zayed Road/E11.

If you are looking forward to commuting to the place via public transport, you can take buses to Al Quoz. There are bus stops within walking distance. If you opt for the metro, get down at Al Safa and hire a cab to reach the destination.

Fashion

UAE’s Toms releases new NFT shoe collection.

head dubai December 19, 2022 No Comments

Apparel Group’s Toms from UAE has brought its social impact model to the metaverse by offering ten limited-edition NFTs with proceeds from the sales being donated to Toms Impact Partner International Medical Corps, who they have partnered with since 2013.

The NFTs showcase key moments in Toms history and will be featuring the Toms classic Alpargata – the shoe that started it all, the company said in a press release.

The designs are inspired by Toms milestones. In 2006, Toms launched with the Alpargata in four colours: black, navy, red, and ash grey. In 2010, Toms celebrated one million pairs of shoes given. In 2018, Toms became a Certified B Corporation. In 2020, Toms launched the first Repreve collection, with recycled polyester and plant dyed canvas styles from botanical pigments. In 2020, Toms celebrated 100 million pairs of shoes given. In 2022, Toms revamped the iconic Alpargata by modernising its silhouette and adopting new fabrics.

Business

UAE salaries to increase in 2023; know which sectors will have highest salary hike.

head dubai December 19, 2022 No Comments

According to the study, UAE real estate sector has the highest-paying job roles in the nation.

Abu Dhabi: Some companies in the United Arab Emirates (UAE) are planning to increase salaries by more than 10 per cent in 2023, according to a recent study.

This came in a study released by Cooper Fitch, a global recruitment and HR consultancy under the title ‘Salary Guide UAE 2023’.

“This percentage is slightly lower than may be expected given anticipated recruitment demand,” stated Trefor Murphy, founder, and CEO of Cooper Fitch.

“The majority of companies (57 per cent) questioned by Cooper Fitch expect to increase salaries in 2023. Approximately 45 per cent expect to make a 0-5 per cent increase, 5 per cent anticipate salary rises of 6-9 per cent, and 7 per cent intend to boost wages by more than 10 per cent during the coming 12 months,” Murphy added.

According to the study, UAE real estate sector has the highest-paying job roles in the nation.

The most in-demand employment roles in real estate are development and design, construction and project management, sales, and post-construction, with development and design professionals earning the highest salaries, up to 252,000 Dirham (Rs 56,72,734) per month.

The monthly maximum income for those working in the construction and project industry is 214,000 Dirham (Rs 48,17,321), compared to 115,000 Dirham (Rs 25,88,747) for those working in sales and post-construction.

Which sectors will have the highest salary rises in 2023?

Real estate sector — 252,000 Dirham (Rs 56,72,734)

Legal — 231,000 Dirham (Rs 52,00,006)

Banking — 178,000 Dirham (Rs 40,06,931)

Investment management — 158,000 Dirham (Rs 35,56,714)

Finance — 153,000 Dirham (Rs 34,44,159)

HR — 147,000 Dirham (Rs 33,09,094)

Manufacturing — 136,000 Dirham (Rs 30,61,475)

Strategy — 131,000 Dirham (Rs 29,48,92)

Technology — 126,000 Dirham (Rs 28,36,367)

Advisory — 126,000 Dirham (Rs 28,36,367)

Tax experts — 117,000 Dirham (Rs 26,33,769)

Telecommunication — 115,000 Dirham (Rs 25,88,74)

Supply chain — 95,000 Dirham (Rs 21,38,530)

Sales and marketing — 76,000 Dirham (Rs 17,10,824)

Entrepreneur

CBUAE, UAE banking sector CEOs discuss financial sector digitalization

head dubai December 17, 2022 No Comments

Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE), chaired a meeting with the UAE banking sector CEOs and representatives of Foreign Exchange and Remittance Group in the UAE.

The meeting highlighted the financial sector digitalisation and its ambitious targets, and the implementation of the new Instant Payment Platform in a phased approach, which is planned to be launched in the first quarter of 2023, with a pilot group of licensed financial institutions. The Instant Payment Platform will facilitate real-time payments and fund transfers in the UAE around the clock.

The new platform will enable the provision of the next generation of payment services to the UAE financial institutions and consumers. The CBUAE emphasised the importance of financial institutions and eligible payment services providers to ensure their readiness to adopt the Instant Payment Platform in accordance with the approved action plan.

The CBUAE further discussed with the officials of UAE banks supervisory expectations and progress in the Emiratisation programme. The share of UAE nationals employed in banks increased to 32% as of Q3 2022. The Emiratisation in the UAE banking system is planned to increase to 45% by the end of 2026.
The CBUAE also highlighted the critical role of exchange houses in the UAE’s financial system and encouraged mutual collaboration with the banking sector, to further support the financial consumers and in the transformation of financial infrastructure and national payment systems.

Entrepreneur

Dubai realty records over AED1.7 bn transactions on Thursday.

head dubai December 17, 2022 No Comments

Dubai real estate market recorded 468 sales transactions worth AED1.39 billion, in addition to 84 mortgage deals of AED259.89 million, and 65 gift deals amounting to AED109.6 million on Thursday, data released by the Dubai’s Land Department (DLD) showed.

The sales included 401 villas and apartments worth AED1.03 billion, and 67 land plots worth AED363.83 million, while mortgages included 70 villas and apartments worth AED196.01 million and 14 land plots valued at AED63.88 million, bringing the total realty transactions of today to over AED1.7 billion.