Latest news with #Valecha
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Dubai: Gold prices plunge further, losing over Dh11 per gram
Gold prices plunged further on Monday afternoon, taking the day's drop to over Dh11 per gram. The Dubai Jewellery Group data showed 24-karat trading at Dh389 per gram, down from Dh400.5 per gram at the close of the markets over the weekend. It was trading at Dh395.25 per gram when markets opened at 9am UAE time. Similarly, 22-karat, 21-karat and 18-karat slipped to Dh360, Dh345.25 and Dh295.75 per gram, respectively. Spot gold fell to $3,234 per ounce, down 2.7 per cent, at 5pm UAE time as the precious metal lost its appeal as a safe haven due to US-China temporarily agreeing to slash tariffs in order to defuse trade war. Vijay Valecha, chief investment officer of Century Financial, said gold's Friday rally was short-lived as prices stuck to intraday losses through the Asian session on Monday, and the latest optimism over a US-China trade deal undermined demand for traditional safe-haven assets. 'The US and China will temporarily lower tariffs on each other's products… in a move to cool trade tensions and give the world's two largest economies three more months to resolve their differences,' he said. The combined 145 per cent US levies on most Chinese imports will be reduced to 30 per cent including the rate tied to fentanyl by May 14, while the 125 per cent Chinese duties on US goods will drop to 10 per cent, according to the statement and officials in a briefing Monday. 'This, along with the Federal Reserve's pause on rate cuts, assisted the US dollar to stand firm near a multi-week top, exerting pressure on the commodity.' On the geopolitical front, Valecha added that risks have shown tentative signs of easing. Russian President Vladimir Putin has agreed to hold direct talks with Ukrainian President Volodymyr Zelenskyy on May 15, without preconditions. Meanwhile, Hamas announced plans to release Edan Alexander, the last known American hostage held in Gaza, and confirmed it will engage in direct discussions with the US aimed at achieving a ceasefire and resuming humanitarian aid. 'Looking ahead, the spotlight shifts to upcoming US inflation data and a key speech from Federal Reserve Chair Jerome Powell on Thursday. These events are likely to offer fresh insights into the Fed's monetary policy path and could play a pivotal role in shaping gold's trajectory in the near term,' added Valecha. He added that the yellow metal could test the psychological $3,200 level, followed by the $3,163 level. Resistance can be seen at $3,300, and any recovery above this level can solidify bullish momentum.
Yahoo
09-05-2025
- Business
- Yahoo
What you need to know if you're planning to move to Dubai
The statistics tell the story. In 2024, Henley & Partners' Private Wealth Migration Report revealed that 9,500 millionaires left the UK for better alternatives in Europe and Asia, many of them flying to the "millionaire magnet" UAE that happily welcomed 6,700 global high-networth individuals to its sunny shores. The trend continues well into 2025. The Gulf state's appeal is not surprising. World Bank data shows the UAE's Gross National Income (GNI) per capita hit $76,780 — about 35% higher than the UK's $56,780 in 2023. Add to the mix the much-vaunted "tax-free regime" and the lure of a luxury lifestyle — think waterfront villas, glitzy nightlife, and world-class dining — and you get an irresistible package. Largely crime-free cities with increasingly liberal social and legal norms make it easier than before for Westerners to integrate. If the UAE dream looks too good to be true, it's because it sometimes is. In a nation where Emiratis make up just 12% of the population, UK nationals have long been a familiar presence. But a sluggish economy, an uncertain dollar, and a weakened pound have accelerated the desire among both the ultra-wealthy and middle-class professionals to consider packing their bags. Today, around 240,000 Britons are estimated to live in Dubai — more than live in Oxford. Read more: 13 tips for a luxury holiday to Dubai However, beneath the glossy brochures, celebrity reels, and promises made by immigration consultants, can lie hidden costs and legal realities that demand due diligence. We spoke to UAE-based experts across finance, real estate, business, recruitment, and education for an essential guide on all that you need to know before making that big move. Recent data shows Dubai's cost of living is about 28%-30% lower than London's, with groceries, dining out, and utilities noticeably easier on the wallet. With just 5% VAT, compared to the UK's 20%, zero property taxes compared to £1,000-£4,000 annual council tax, a pro-business environment and streamlined company set-up, licensing and visa processes, Dubai appears to live up to the "work hard, save more, live large" mantra. However, Vijay Valecha, chief investment officer of investment firm Century Financial, sounds a warning bell on lifestyle inflation. 'In the UK, income tax of up to 45%, capital gains taxes, and a national insurance scheme can temper your earnings. With none of these taxes in the UAE, an expat gets more disposable income, which could lead to overspending,' he says. Valecha outlines typical monthly costs beyond rent and education — food (approximately £700 for a family of four), mandatory health insurance (£600), private transport (£500), utilities (£300), and entertainment (could vary widely). But it's the hidden expenses and the cumulative costs of car ownership, insurance, fines, and lifestyle that often derail newcomers' financial plans. Valecha's game plan for staying ahead: Automate 20%-30% of income into global and regional investments ranging from equities and fixed-income products to high-yield UAE real estate. Build an emergency fund and make early retirement plans through International Self-Invested Personal Pensions (SIPPs) or UAE-specific pension schemes. Hedge against currency swings with multi-currency accounts and time remittances smartly. Be mindful of obligations like UK inheritance tax (IHT), now linked to residency rather than domicile status. Prioritise estate planning and register wills with DIFC Wills Service or Abu Dhabi Judicial Department. Work only with licensed advisors registered with the Securities and Commodities Authority (SCA), Dubai Financial Services Authority (DFSA), or RERA to mitigate risks and stay ahead of evolving tax laws. High living standards, the absence of property taxes and stamp duty, and good returns make a compelling case for the UAE's residential real estate market, now valued at around $390bn. With Abu Dhabi and Dubai's average apartment price registering a year-on-year increase of nearly 11% and 18%, respectively, and average villa values growing by about 12% and 20%, hedging on the burgeoning UAE real estate scene works well for an expat. Incidentally, UK residents accounted for nearly 15% of all foreign real estate transactions in 2024. The reasons are familiar — steady growth fueled by immigration, job creation, and heavy public investment in cultural and tourist infrastructure. Ben Crompton, managing partner of Crompton Partners, Abu Dhabi, highlights strong activity in the luxury segment. "The super-prime areas of Saadiyat and Yas Islands in Abu Dhabi have given the best returns for capital appreciation. For rental yields, communities like Reem Island offer up to 8% gross return on investment," he says. Read more: How to save money on a holiday to Dubai In the "renting versus buying" debate, Crompton advises expats to carefully weigh their options. Ready-built units offer immediate rental income, while off-plan properties may provide stronger capital gains. With mortgage rates around 4% and nonresidents able to borrow up to 50% of a property's value, Crompton believes it's wise to buy a house. "Buying is simple here, but conveyancing is handled by agents, not lawyers. So always deal with reputable companies, whether renting or buying," he cautions. Meanwhile, in Dubai, large-scale villa and townhouse communities as well as waterfront and green developments alongside new areas like Port Rashid, Maritime City, The Valley, and Dubai South are proving particularly attractive. "Make strategic choices about where to live versus where to invest. Some areas offer stable living environments, while others deliver higher ROI," advises Eyal Ashur, sales consultant at Dubai-based AQUA Properties. "But new arrivals should rent in the short term. Rules here are simpler than in Europe. You can rent as soon as you get your Emirates ID." Ashur also points to the appeal of the UAE's Golden Visa. "With the two-million-dirham threshold, expats can now secure long-term residency and sponsor direct family members, even with a mortgage," he says. A 5% VAT rate, pro-investor policies, world-class infrastructure and connectivity, and a thriving expat business scene have turned the UAE into an attractive playground for entrepreneurs. Ananda Shakespeare, founder of leading PR firm Shakespeare Communications, made the move in 2005 and has watched the landscape transform over the years. She highlights a major shift for the positive sentiment — the UAE's move to a Monday-Friday work week from Sunday-Thursday, better aligning with Western markets. "Setting up here is more expensive than in the UK," Shakespeare notes. "It's not just the licence; there are extras that aren't always obvious upfront. Every employee visa comes with added costs — medicals, Emirates ID, labour card, etc. But once established, the payoff is worth it. You can renew online annually and pay fees remotely. Plus, there are more options now for company formations and residence visas, including the 10-year Golden Visa." For many, free zones are the biggest lure, offering 100% foreign ownership, no personal tax, very low corporate tax, and full profit repatriation. But whether you opt for a free zone or mainland setup, Shakespeare advises bringing in solid HR and legal support to stay compliant. "Always get a full cost breakdown in writing before you start,' she says. "Business is competitive but open. Informal networking and coffee meetings can go a long way. And when launching, partner with an established PR agency to spread the word." For UK families moving to the UAE, the education landscape offers a familiar yet globally enriched experience. State-of-the-art facilities, resources, extracurricular programmes, and easy accessibility to UK university pathways have made institutions like Nord Anglia Education (NAS) schools, Swiss International Scientific School, Sunmarke School, GEMS, and Repton popular among British expats. The demand for British curriculum schools has surged. Nicholas Rickford, principal of Sunmarke School, notes a marked increase in enquiries from UK-based parents following the announcement of VAT on private school fees. "British families often tell us they are drawn by the range of academic pathways we offer — including GCSEs, A-Levels, the IB Diploma and BTECs — along with strong pastoral care and a commitment to holistic development," he says. Read more: How to plan for retirement and track your pension pot income However, for expat families, private schooling with steep fees is the only option available. At a premium school like Sunmarke, annual fees range from approximately £11,000 for early years to about £18,000 in the sixth form. Yet, compared to the UK private day school fees — typically between £15,000 and £25,000 — the UAE offers competitive value while adhering to regulatory standards and ratings by Dubai's Knowledge and Human Development Authority (KHDA) and accreditations like British Schools Overseas (BSO). And then there is the advantage of multicultural learning. Maria Murgian, director of communications at NAS, points to smaller class sizes, a highly qualified (mostly UK-trained) international teaching staff, and modern facilities as key advantages her school offers over many UK counterparts. "We have students from 98 nationalities, which creates a more diverse learning environment and prepares students for a globalised world," she says. To choose the best school, Murgian recommends factoring in curriculum offerings, KHDA ratings, location, tuition costs, and facilities. 'But also note how a school's values align with those of the family. Think about the environment your child will thrive in and how transparent the school is in communicating with parents,' she says. Rickford advises parents to begin applications between late September and November with previous school reports and transfer certificates on hand to ease the process. "Most importantly, visit several schools virtually or in person to really understand its atmosphere, teaching approach, and support systems." Eyeing career opportunities? There's both good and bad news. Specialist fields, tech, AI, cybersecurity, data science, cloud infrastructure, performance marketing, e-commerce, financial services, and luxury consumer brands are hot. But the landscape is fiercely competitive, driven by the sheer volume of talent flowing in from across the globe. Justin McGuire, CEO and co-founder of the MENA region at MCG Talent, says, "If you're in a niche vertical or have experience in areas like AI or cloud, you'll have more luck. But the bar's never been higher." Credentials aside, what employers seek is regional know-how, more precisely, UAE or Middle East experience. "You could have a stack of certifications and a shiny CV, but if you don't understand how things operate here — how business gets done, decisions are made, and the cultural dynamics — you'll struggle," McGuire says. "Senior commercial roles with proven GCC results are what get traction." Salaries, too, require a reality check. "Don't expect high salaries or quick offers without regional experience or a niche skill set. Many salaries are now benchmarked locally, not to what you earned in the UK. The tax-free element helps, but base salaries aren't what they were in 2015," he says. McGuire's advice: "Don't move here without a job. The UAE is not the place to roll the dice. Treat job hunts like a campaign — start early, build connections, engage in online communities, and find someone who knows someone. Relationships still count more than CVs." Read more: Who wears the financial trousers in your relationship? 8 intriguing homes with links to World War Two Five questions you shouldn't be asked in a job interviewError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
25-04-2025
- Business
- Zawya
Dubai fuel delivery operator CAFU mulls stake sale
CAFU, the Dubai-based fuel delivery operator, is mulling a stake sale as the company looks to raise funds. According to a Bloomberg report, the fuel delivery service is reportedly collaborating with financial advisory and asset management firm Lazard, Inc for the stake sale. Lazard established its offices in Abu Dhabi, earlier this month in a bid to deepen its presence in the MENA region. Founded in 2018 by Emirati entrepreneur Rashid Al Ghurair, CAFU delivers fuel at gas station prices and has expanded to Canada. News of the stake sale came shortly after CAFU announced it was rolling out delivery charges, which had been suspended in the aftermath of COVID-19. Diverse IPO offering According to Vijay Valecha, Chief Investment Officer, Century Financial, a possible CAFU stake sale would bring a diverse offering to the UAE's IPO pipeline. 'For new entrants to the UAE and Gulf digital tech startup space, CAFU's business model idea has served as a benchmark for best integrating and evolving traditional business models into the new online and digital tech space,' Valecha said. Globally, CAFU's business model has served well in several countries, with Valecha calling North America as the biggest market for this segment with services including Yoshi, Gaston, Ez Fill, Booster & Fuelster, along with American oil companies Shell and Mobil having also introduced their services in this segment. For the UAE, a possible listing by CAFU tracks with analyst data that have pointed out a growing theme around technology in the short to mid-term IPO pipeline. (Writing by Bindu Rai, editing by Seban Scaria)
Zawya
12-03-2025
- Business
- Zawya
Tech firm Alpha Data's shares jump nearly 7% on market debut
Alpha Data, a UAE-based technology services company which sold a 40% stake in an Abu Dhabi IPO to raise 600 million dirhams ($163 million), saw its shares climb nearly 7% on debut on Tuesday. The broader market fell 0.17%. Alpha Data opened at AED 1.53 and oscillated between an intraday low of AED1.51 and an intraday high of AED 1.70. It closed at AED 1.60, signalling an intraday gain of 6.67%. 'The solid opening indicates robust underlying demand and positive market sentiment toward the company's fundamentals and prospects,' said Vijay Valecha, Chief Investment Officer at Century Financial. The company has a market capitalization of AED1.6 billion or $408 million. The IPO, the year's first in the UAE, attracted substantial interest from both domestic and international investors, and resulted in double-digit oversubscription levels. 'This is attributable to a plethora of factors. For starters, Alpha Data operates in the high-growth digital infrastructure and tech sector – which is an area of interest for most investors. Additionally, the company's recurring revenue model, strong presence in the tech sector, and alignment with the government's digital transformation agenda have made it a compelling investment for investors." The company has said it expects to distribute a dividend of AED130 million in 2025, a yield of 8.7%. 'Alpha Data's dividend yield is expected to reach 8.7%, positioning it among the highest offered by listed companies in the UAE,' said Valecha. Yield-seeking investors will be inclined to invest in such a company, particularly since this high-growth sector is not known for paying attractive dividends to shareholders, he added. 'If the company maintains this payout policy, it could appeal to both growth and income-oriented investors—offering an appealing combination of capital appreciation potential and steady yield,' Valecha added. (Reporting by Brinda Darasha; editing by Seban Scaria)
