Over 1,000 millionaires flocked to UAE in 2018

Agencies
April 19, 2019

Dubai, Apr 19: Dubai attracted more than 1,000 millionaires from outside the country, surpassing major cities like Los Angeles, Melbourne, Miami, New York, San Francisco and Sydney, according to the 'Global Wealth Migration Report' for 2019, developed recently by AfrAsia Bank and New World Wealth.

The report described Dubai as the most prominent financial centre in the Middle East, and one of the safest cities in the region as well as a popular destination for High-Net-Worth-Individuals (HNWIs) and wealthy expatriates.

It also said that Dubai is an example of the power that business incentives have in encouraging business formation.

Approximately 2,000 HNWIs, each with at least $1 million worth of net assets, moved into the UAE in 2018, boosting the local economy. The number of affluent migrants in the UAE rose by two per cent in 2018, compared to the previous year, according to the report.

The 2019 'Global Wealth Migration Report' said that global wealth migration saw an acceleration in 2018. Approximately 108,000 millionaires (HNWIs) migrated in 2018, compared to 95,000 in 2017. China saw a mass exodus of 15,000 millionaires in 2018, the most significant of any country in the world, followed by Russia, which saw an exodus of about 7000 millionaires. India saw an exodus of 5000 millionaires, while Turkey saw 4000, and France and the United Kingdom 3000 millionaires each.

The report reviewed the major factors that led to HNWIs moving outside their country to find a home that meets their needs. Key elements driving their relocation included security and safety, modern lifestyle, high standards of living, better educational opportunities and healthcare.

Driven by its success as a focal point for global trade, and an important transportation hub, Dubai has built a global reputation as a city with a highly developed infrastructure that boasts world-class standards in every sector. Based on an ethos of peaceful coexistence and tolerance, the UAE has become a worldwide model for harmony between people of different religions and ethnicities.

The country is home to people of over 200 nationalities. Its strong legislative framework provides high levels of safety and security while its exceptional infrastructure provides high-quality tourism facilities, service levels and entertainment offerings.

The city offers many advantages that make it a haven for the world's wealthy. Millionaires flock to the emirate due to a range of exceptional business incentives, robust foreign trade and international connectivity. Dubai attracted over 16 million tourists in 2018 and has the ambitious target of welcoming 25 million tourists by 2025.

Dubai International Airport (DXB) has retained its position as the world's busiest airport with the number of travellers passing through its terminals hitting nearly 90 million last year, up by one per cent from the previous year. Dubai International has been crowned as the world's busiest hub for international travel for a few years now since outranking London Heathrow in 2014.

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Agencies
June 24,2020

New Delhi, June 24: The United Arab Emirates (UAE) has asked Air India to not carry any passengers aboard the repatriation flights to UAE being operated under the Vande Bharat Mission.

As per the Guidelines issued by the General Civil Aviation Authority of United Arab Emirates (UAE)- Safety Decision 2020-01 (Issue 17) Q and A Guidance For Foreign Operators, on June 23, 2020 - transportation of passengers ( UAE Nationals and Non - UAE Nationals) to the United Arab Emirates on the repatriation flights is not allowed.

In view of the foregoing, all passengers including the Indian Nationals who are holding valid Residency Permit / Work Permit of United Arab Emirates and have procured approval of the UAEs Federal Authority for Identity and Citizenship- UAE (ICA) of United Arab Emirates or an approval from the General Directorate of Residency and Foreigners Affairs (GDRFA) applicable to Dubai would need to have specific approval from the Embassy of the United Arab Emirates in New Delhi and their UAE Ministry of Foreign Affairs and International Cooperation (MOFAIC) to travel from India to United Arab Emirates (UAE) on these repatriation flights.

All passengers need to comply with the quarantine and COVID-19 test requirements as per the preventive and the precautionary measures required by the appropriate health authorities, as notified from time to time.

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News Network
March 6,2020

New York, Mar 6: A 23-year-old Indian with a student visa in the US has pleaded guilty to sexual enticement of a minor girl, prosecutors have said.

Sachin Aji Bhaskar faces a maximum penalty of life in prison.

He pleaded guilty before Senior US District Judge William M Skretny to sexual enticement of a minor.

The charge carries a minimum penalty of 10 years in prison, a maximum penalty of life in prison, a fine of USD 250,000 or both, US Attorney James P Kennedy said.

Prosecutors alleged that Bhaskar communicated by text and email with an 11-year-old girl for the purpose of engaging in sexual activity.

Through those communications, Bhaskar enticed the victim to engage in a sexual activity with him in August, 2018, they said.

The sentencing in the case is scheduled for June 17.

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Agencies
January 4,2020

Dubai, Jan 4: Three UAE airlines have made it to lists of the safest carriers in 2020, reinforcing the value these companies provide passengers in the increasingly competitive aviation scene.

Abu Dhabi's Etihad Airways and Dubai's Emirates are in the list of the top 20 safest airlines, while Sharjah-based Air Arabia is in the list of the top 10 low-cost carriers, safety and product rating website AirlineRatings.com reported on Thursday.

It named Qantas as the safest airline for 2020 out of the 405 carriers it monitors.

The top 20, in order, are Qantas, Air New Zealand, EVA Air, Etihad Airways, Singapore Airlines, Emirates, Alaska Airlines, Qatar Airways, Cathay Pacific Airways, Virgin Australia, Hawaiian Airlines, Virgin Atlantic Airlines, TAP Portugal, SAS, Royal Jordanian, Swiss, Finnair, Lufthansa, Aer Lingus and KLM.

"These airlines are clear standouts in the airline industry and are at the forefront of safety," said AirlineRatings.com editor-in-chief Geoffrey Thomas.

"For instance, Australia's Qantas has been recognised by the British Advertising Standards Association in a test case in 2008 as the world's most experienced airline."

"Qantas has been the lead airline in virtually every major operational safety advancement over the past 60 years and has not had a fatality in the pure-jet era," said Thomas.

AirlineRatings.com editors also identified their top 10 safest low-cost airlines; they are, in alphabetical order, Air Arabia, Flybe, Frontier, HK Express, IndiGo, Jetblue, Volaris, Vueling, Westjet and Wizz.

Saj Ahmad, chief analyst at StrategicAero Research in London, says that it isn't a surprise that UAE carriers are on those lists.

"UAE airlines almost always feature in the top rankings for safety because they value the equipment that they fly their passengers on each and every day," he told Khaleej Times on Thursday.

"All airlines do; but for the UAE, where airlines have expanded rapidly in the last couple of decades, it's an amazing feat that they rank so highly while inducting so many new aeroplanes."

There's little benefit to adding luxurious cabins if maintenance, security and safety protocols as well as routine engineering schedules are not adhered to, he stressed.

"And with the UAE itself sporting MRO activities as well as through companies like Strata, which supply components to Airbus and Boeing directly, airlines here have harnessed that tech-change to ensure that their fleets have the highest redundancy and safety checks at every possible chance," Ahmad added. "That translates into passenger confidence - and we can see the brand and loyalty strength across Emirates, flydubai, Air Arabia and Etihad; it's no surprise that each year, they all fly more and more passengers across their network."

In making its selections, AirlineRatings.com editors and its industry advisors take into account numerous critical factors that include: Audits from aviation's governing bodies and lead associations, government audits, airline's crash and serious incident record, fleet age, financial position and pilot training and culture.

"All airlines have incidents every day and many are aircraft or engine manufacture issues instead of airline operational problems. And it is the way the flight crew handles incidents that determines a good airline from an unsafe one. So just lumping all incidents together is very misleading," said Thomas.

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