15% ofpatients' seeking plastic surgery in UAE are teens and students: Consultancy

[email protected] (Emirates24/7)
January 27, 2014

Plastic_surgeryAbu Dhabi, Jan 27: The growing interest demonstrated by university aged students and teenagers for plastic surgery is being cited as one of the key factors that will help spark continuous growth for the UAE's plastic surgery segment.

According to a media statement issued by Vasilica Aesthetics, a plastic surgery consultancy firm, “recent industry reports have shown that more and more individuals in the country today are pressured to look good, which has spiked the demand for cosmetic surgery and other related medical procedures.”

According to the media statement, “Of the lot, 15 per cent of patients seeking to undergo plastic surgery in 2013 were composed of teenagers and university-aged students.”

Vasilica Aesthetics, which is seeking to play a guiding role for young people wanting to undergo plastic surgery, strongly advises that potential patients, particularly younger ones, should first seek professional advice from medical experts and consultants before undergoing a cosmetic procedure.

The form further shared that university students are simply emulating what today's celebrities are doing but explained that younger patients should be made aware of the procedure they wish to undertake and the risks involved with it.

The increased demand for plastic surgeries has attracted the attention of specialists from all over the world – who have now set up extensions of their practices in Dubai, which allows them to meet potential patients and perform cosmetic procedures here as well.

According to these specialists, some of the most common procedures opted by younger patients include liposuction, breast augmentation, ear correction, body lift , rhinoplasty and acid hyaluronic fillers like Juvaderm, Radiesse and Restyline.

Industry analysts have cited two main reasons as to why today's younger generation are turning to plastic surgery – the first is peer pressure, where friends and social acquaintances play large influence to the need to look good and second, the advances in medicine that have now made aesthetic procedures possible and affordable. Also, today's plastic surgery procedures have also become less invasive and safer.

“The growing interest for cosmetic surgery has given us the confidence to see more growth in this medical segment – probably reaching 5 to 10 per cent growth in 2014,” said Vasilica Roxana Baltateanu, Co-Founder and Managing Director, Vasilica Aesthetics.

“The growth of this segment consolidates the Middle East region's move to become a medical tourism destination. The UAE in particular is now focused on developing its healthcare segment and has already started on building specialized healthcare cities and other major hospital projects that will attract more medical tourists.”

Amidst these developments, Vasilica Aesthetics has shared that interested patients still need to be guided on the basics of undergoing a cosmetic procedure. According to Baltateanu, many of these patients search the internet to check on corrective surgeries that they can avail of, while some even consult with three to five different specialists – ending with tons of information that will sound too confusing for them.

“Plastic surgery is not a medical condition—it is elective. It is a procedure that will not only affect your body but will also have an impact on your life, can have psychological effects. For those who are really decided on undergoing plastic surgery, younger ones in particular, we would also recommend counselling in order to be well aware of the benefits and the risks involved,” concluded Baltateanu.

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News Network
January 17,2020

New Delhi, Jan 17: E-commerce major Amazon on Friday said it plans to create one million new jobs in India over the next five years through investments in technology, infrastructure and its logistics network.

These jobs are in addition to the seven lakh jobs Amazon's investments have enabled over the last six years in the country.

"Amazon plans to create one million new jobs in India by 2025," the company said in a statement, adding that the jobs - created both directly and indirectly - will be across industries, including information technology, skill development, content creation, retail, logistics, and manufacturing.

Amazon.com Inc chief Jeff Bezos had on Wednesday announced USD 1 billion (over Rs 7,000 crore) investment in India to help bring small and medium businesses online and committed to exporting USD 10 billion worth of India-made goods by 2025.

"We are investing to create a million new jobs here in India over the next five years," Bezos said.

"We’ve seen huge contributions from our employees, extraordinary creativity from the small businesses we've partnered with, and great enthusiasm from the customers who shop with us—and we’re excited about what lies ahead," Bezos added.

India has prioritised job creation and skilling initiatives – including the training of more than 400 million people by 2022 – in rural and urban areas.

"Amazon’s job creation commitment and investment in traders and micro, small and medium enterprises (MSMEs) complement this social inclusion and social mobility efforts by creating more opportunities for people in India to find employment, build skills, and expand entrepreneurship opportunities," the statement said.

The new investments will help to hire talent to fill roles across Amazon in India, including software development engineering, cloud computing, content creation, and customer support.

Since 2014, Amazon has grown its employee base more than four times, and last year inaugurated its new campus building in Hyderabad – Amazon’s first fully-owned campus outside the United States and the largest building globally in terms of employees (15,000) and space (9.5 acres).

The investments will also help in expanding growth opportunities for the more than 5,50,000 traders and micro, small, and medium-sized businesses – including local shops – through programs like Saheli, Karigar, and “I Have Space”.

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Agencies
July 13,2020

New Delhi, Jul 13: The Income Tax Department has facilitated a new functionality for banks and post offices to ascertain TDS applicability rates on cash withdrawal of above Rs 20 lakh in case of a non-filer of the income-tax return and that of above Rs 1 crore in case of a filer of the income-tax return.

In a statement, the Central Board of Direct Taxes (CBDT) said that now banks and post offices have to only enter the PAN of the person who is withdrawing cash for ascertaining the applicable rate of TDS.

So far, more than 53,000 verification requests have been executed successfully on this facility, a statement by the CBDT said.

"CBDT today said that this functionality available as 'Verification of applicability u/s 194N' on www.incometaxindiaefiling.gov.in since 1st July 2020, is also made available to the Banks through web-services so that the entire process can be automated and be linked to the Bank's internal core banking solution," it said.

On entering PAN by the bank or the post office, a message will be instantly displayed on the departmental utility: "TDS is deductible at the rate of 2 per cent if cash withdrawal exceeds Rs 1 crore", in case the person withdrawing cash is a filer of the income-tax return.

In case the person withdrawing cash is a non-filer of income tax return, the message shown would be: "TDS is deductible at the rate of 2 per cent if cash withdrawal exceeds Rs 20 lakh and at the rate of 5 per cent if it exceeds Rs 1 crore."

The CBDT said that the data on cash withdrawal indicated that huge amount of cash is withdrawn by the persons who have never filed income-tax returns.

To ensure filing of return by these persons and to keep track on cash withdrawals by the non-filers, and to curb black money, the Finance Act, 2020 with effect from July 1, 2020 further amended IT Act to lower threshold of cash withdrawal to Rs 20 lakh for the applicability of this TDS for the non-filers and also mandated TDS at the higher rate of 5 per cent on cash withdrawal exceeding Rs 1 crore by the non-filers.

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Agencies
June 12,2020

Mumbai, Jun 12: Following an overwhelming response for the mega rights issue of Mukesh Ambani-owned Reliance Industries, the partly paid-up rights shares are set to debut on stock exchanges on June 15.

The biggest ever Rs 53,124 crore rights issue was subscribed 1.59 times and received bids worth Rs 84,000 crore on June 3.

Reliance said the rights issue saw a huge investor interest, including from lakhs of small investors and thousands of institutional investors, both Indian and foreign.

In 2019, Ambani said in the Reliance's annual general meeting that the company will be net zero debt by March 2021. The company is on course to achieve its target ahead of the deadline.

"In spite of the COVID-19 crisis and the lockdowns, the due-diligence by Saudi Aramco for the planned investment in the O2C business is on track as both the parties are committed and actively engaged," he said recently.

"With a strong visibility to these equity infusions, Reliance is set to achieve net zero debt status ahead of its own aggressive timeline. We believe rights issue was a part of the company's strategy of deleveraging its balance sheet," said Ambani. 

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