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Wednesday 25 November 2015
INDIAN NATIONAL WIN GOLD IN THE DUBAI DUTY FREE MILLENNIUM MILLIONAIRE PROMOTION
The Millennium Millionaire draw was conducted by Dubai Duty Free officials headed by Ramesh Cidambi, Senior Vice President – IT & Logist...
WIN WITH DDF
The World Famous Luxury Car draw Launched in 1989, the Dubai Duty Free Finest Surprise Promotion to win a luxury car is the longest runnin...
Dubai ready to lower rents to fill apartments
Rents in Dubai remained stable in the third quarter 2015, brining comfort to the residents, Cluttons said. Average rents fell 3.2 per cent i...
Hacker demands $3m to a UAE Bank
Dubai: A sinister cyber criminal has hacked into a Sharjah bank and is now holding it to ransom by leaking confidential data of clients on s...
New Emirates Baggage Rules
Dubai Emirates airline has announced changes to its check-in baggage rules according to which size does matter. The new rules came into effe...
Sunday 22 November 2015
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2015
The Millennium Millionaire draw was conducted by Dubai Duty Free officials headed by Ramesh Cidambi, Senior Vice President – IT & Logistics, Sinead El Sibai, Vice President – Marketing and Nic Bruwer, Vice President – Human Resources.
November 24th, 2015 (Tuesday) – a syndicate of 9 lucky colleagues from Dnata GSE division is about to have the experience of a lifetime as they will claim US$1 million in the Dubai Duty Free Millennium Millionaire Promotion Series 204, which was drawn today in Concourse C, Dubai International Airport.
The lucky ticket no. 1684 was purchased under Mr. Renjith Remanan’s name, a thirty-five-year old Indian national who was over the moon to learn about his great win.
Commenting on his stroke of luck Renjith said: “The day I purchased the winning ticket I was flying back home to see my newborn baby son who is now one-month old. I am thrilled to have won and believe that my son brought luck to me and my colleagues”.
The Finest Surprise Draw was conducted directly after the Millennium Millionaire announcing Mr. Frank Matthaes, a German national living in Noonenhorn, Germany the lucky winner of a Ducati Diavel Dark in Series 269 with ticket no. 0769.
The latest Millennium Millionaire and Finest Surprise draw was conducted by Dubai Duty Free officials headed by Ramesh Cidambi, Senior Vice President – IT & Logistics, Sinead El Sibai, Vice President – Marketing and Nic Bruwer, Vice President – Human Resources.
The World Famous Luxury Car draw
Launched in 1989, the Dubai Duty Free Finest Surprise Promotion to win a luxury car is the longest running duty free promotion in the world. With tickets on sale for US$139 and limited to 1,300 coupons, the ticket holders have a chance to win a luxury car: a BMW, Mercedes Benz, Jaguar, Porsche and Audi.
However, for special car series including Bentley, Audi R8, McLaren and Aston Martin, 2,300 coupons are available costing Dhs500 or US$139.
BUY NOW
The World Famous Motorbike draw
To complement the Finest Surprise to win a car, the motorbike promotion was introduced in 2002. The ticket is lower and priced at US$28 so it gave everyone a chance to enter and win.
BUY NOW
Rents in Dubai remained stable in the third quarter 2015, brining comfort to the residents, Cluttons said.
Average rents fell 3.2 per cent in the past one year, with three-bed villas in the Springs, Jumeirah Village, Al Reem, Falcon City and The Villa reporting declines in the nine month period, the consultancy said in its “Dubai 2015/16 Winter Residential Property Market Outlook.”
“Tenants can take comfort in the fact that rents have for the most part stabilised, with no growth recorded during the third quarter. The biggest declines recorded by low-end three-bedroom villas, encompassing the Springs, Jumeirah Village, Al Reem, Falcon City and The Villa, where rents slipped by nearly six per cent between January and September,” it added.
Emirates 24/7 reported in August 2015 that the Real Estate Regulatory Agency (Rera) rent index will no longer be updated every four months, as done since 2009 when it was launched.
Read: Your Dubai rent index update once a year: DLD
Faisal Durrani, Head of Research, Cluttons, said the rent calculator still appears to be out of sync with market reality.
“It [index] has served as a useful barometer for tenants and landlords since 2009 but the increasingly complex nature of Dubai’s residential market suggest the city may need to find an alternative to maintain transparency and investment volumes into the buy to let sector.”
Most tenants, the report said, were willing to absorb a five to 10 per cent rent increase instead of budgeting for high relocation costs.
“Ironically, there are landlords in the market who will be willing to accept rents lower than the official Rera rent calculator for vacant properties, which means it may actually end up being cheaper for households to relocate in some cases,” the report said.
Prices set to fall
Cluttons said price growth appears to be slowing, with a bottoming out in the market likely to happen at the tail of 2016.
It revealed values dipped -0.8 per cent for apartments and 0.5 per cent for villas in the third quarter 3, marking the fifth consecutive quarter of price falls.
“Price declines in the region of 3% to 5% are expected over the next 12 months, impacted by faltering global growth and supply levels creeping upwards,” the consultancy said.
It, however, emphasised that infrastructure investments planned around the looming Expo 2020 will boost the rate of job creation and the rate of new households created.
“We expect 7,400 units to complete in 2016, 10,300 in 2017 and a further 13,600 in 2018, with the new schemes launched during the past quarter, helping to even out the balance between villas and apartments. Over the next three years, 48% of the units delivered will be villas,” said Steven Morgan, CEO, Cluttons Middle East.
Off plan remains popular
Majority of residential sub-markets reported little or no change in values in 2015, which was partly attributed to the steady appeal of apartments to the buy-to-let investment community.
“We’ve seen the popularity of off-plan property sales persist, partly fuelled by the fact that off-plan residential property prices are often 20 to 30 per cent lower than completed secondary stock, which in essence might allow buyers to bypass some of the stringent lending criteria and also possibly avoid the need for a mortgage altogether,” Morgan said.
Talking on the affordable housing issue, Durrani said despite several developers having brought schemes to the market that they present as being “affordable”, true affordable housing remains a vastly underserved segment of the market.
“The authorities need to formalise the definition of affordable housing, in terms of those who could qualify and the type of housing that needs to be created, otherwise there is a real danger that the term ‘affordable’ will be permanently diluted.”
In an interview with this website in March 2015, Abdulla Mohammed Rafia, Assistant Director General for Engineering and Planning Sector, Dubai Municipality, defined affordable housing in Dubai as “living space for people whose salary is between Dh3,000 to Dh10,000 per month”.
Read: Dubai to build affordable houses for people earning Dh3,000 to Dh10,000 per month
Referring to the analysis carried out by Cluttons on the UAE Ministry of Economy’s 2008 Household Income Survey, average annual expat incomes across the UAE currently stand at around Dh199,000 with average residential rents in freehold areas at the end of third quarter 2015 stood at Dh181,000 per annum, highlighting the disparity between incomes and the cost of housing.
“In the UAE this is approximately Dh600,000 to Dh800,000, which would typically buy a studio or one bedroom apartment in peripheral submarkets such as International City, International Media Production Zone, Dubailand or Dubai Silicon Oasis, leaving many people little option but to continue renting,” Durrani added.
By Parag Deulgaonkar
E24/7
Dubai: A sinister cyber criminal has hacked into a Sharjah bank and is now holding it to ransom by leaking confidential data of clients on social networking and microblogging site Twitter every few hours, XPRESS can reveal.
The criminal who goes by the moniker Hacker Buba and uses a stolen picture of a bank staff says he will not stop until the bank pays him an undisclosed amount of ransom money in the digital currency Bitcoin (explained below) by this weekend.
True to his word, he has been posting the account statements of government entities and scores of UAE firms and individuals daily since November 18.
On November 23, the bank got Twitter to suspend Hacker Buba’s account but the reprieve was short-lived. The following day, he created a new identity and was back with a vengeance, uploading account statements of 500 bank customers in just one tweet attachment.
Earlier, Hacker Buba had sent warning text messages and emails to several bank customers, saying their accounts were under his “control” and that they must pay him directly or get their bank to do so failing which he would release their bank statements online.
Hours later he carried out the threat, creating panic among customers.
The bank admitted the cyber attack and confirmed they have been sent a ransom note.
“Yes, there was a data breach and we have been contacted by Hacker Buba. He is asking for money but I cannot reveal how much. This is blackmail. We have reported the matter to UAE Central Bank. The Telecom Regulatory Authority’s (TRA) Computer Emergency Response Team (aeCERT) is investigating,” the bank’s chief financial and operating officer told XPRESS.
“We won’t give in to any extortion threat. In any case there has been no financial loss. All what this man has is some customer information and he’s trying to use it as a bargaining chip,” he added.
Customers angry
However, customers affected by the breach, possibly the worst in UAE’s history are horrified and angry. “This is far more serious than what it’s made out to appear. I feel naked as my entire company stands exposed. Our financial transactions, client details, everything is on a public platform,” said the finance officer of an investment firm in Dubai.
The owner of an Abu Dhabi based contracting company said the damage to his business was ‘irreversible’ while the director of a Sharjah-based food industries firm blamed the bank for lax cyber security.
Many companies and individuals didn’t even know their personal details had been posted online until XPRESS called them.
“I am shocked beyond disbelief. At least the bank could have informed us,” said the founder of a real estate firm in Dubai.
It’s not clear how the hacker broke into the bank’s computers. In a direct message to this journalist via Twitter, Hacker Buba claimed he is seeking $3 million and has access to the bank database and back up files from all its servers.
“Cyber attacks are becoming increasingly popular because of the vulnerabilities in the system architect. Banks need to invest in systems that talk to each other intelligently. The key word here is integration. A system that is integrated from the security perspective prevents hacking and allows one to act in real time in case of a cyber attack,” said Hamed Diab, regional director MENA, Intel Security
Another cyber security expert said it’s nearly impossible to trace such hackers as they are experts in covering their digital footprints and creating fake trails. “Hacker Buba’s Twitter location points to a county in Hungary, his previous posts are in Indonesian language while the SMS sent to customers were from a cellphone with a UK number,” the expert said.
What are Bitcoins?
Bitcoin is a an electronic alternative to cash currency for paying over the Web. No one controls it. Bitcoins aren’t printed, like dollars or euros. The thing that makes it different to conventional money, is that it is decentralised. Of late, the use of bitcoin by criminals has the attention of financial regulators, legislative bodies, law enforcement and media.
Hacker tries to bribe XPRESS Editor
Hacker Buba offered this journalist five per cent of the total ransom amount to cooperate with him. “I give u 5 % from total I get. Have many banks from UAE, Qater, ksa and etc. Will work together,” he said in a direct message on twitter
Courtesy: Emirates27
Courtesy: Emirates27
Dubai Emirates airline has announced changes to its check-in baggage rules according to which size does matter.
The new rules came into effect on November 15.
An Emirates spokesperson told XPRESS: “Individual items with total dimensions exceeding 300cm (118 inches) cannot be transported as checked baggage, and must be sent as cargo or freight. There are no exceptions to this rule. The standard free baggage allowance for all Emirates destinations (excluding Canada, North or South America) as per the weight concept is 30kg for economy class, 40kg for business class and 50kg for first class.”
For tickets issued before November 15, bags that range 300-400cm may be accepted in exceptional cases. But passengers need to obtain an approval from Emirates at least seven working days before travel. If the free baggage allowance is exceeded, normal excess charges would also apply.
For flights operating to Canada, North and South Americas, the standard free baggage allowance is determined by the piece concept.
Accordingly, two pieces of 23kg each on economy and two pieces of 32kg each on first and business class are allowed.
“Total dimensions (length + width + height) of each piece must not exceed 150cm (59 inches). Customers with individual items exceeding above dimensions up to 300cm (118 inches) will be charged an additional fee. Individual items with total dimensions exceeding 300cm (118 inches) cannot be transported as checked baggage, and must be sent as cargo or freight,” the rules state.
For customers with two pieces of luggage in all three classes, total combined dimensions of both pieces should not exceed 300cm (118 inches).
But for tickets issued prior to November 15, the total dimensions (length+ width+ height) of each piece must not exceed 158cm (62 inches).
The rules state that customers with infants are allowed an additional bag up to 10kg that may not exceed 55 x 38 x 20cm in size where the weight concept applies, or one piece of up to 23kg and with total dimensions (length + width + height) not exceeding 115cm where the piece concept applies.
Courtesy: Gulf News
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