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SHARE British expatriates in the UAE who regularly send money home have been feeling the squeeze as an empowered pound has risen against a diminished US dollar. With Brexit uncertainty being supplanted by an economy plotting a positive course beyond Europe and the Covid-19 pandemic, the dollar-pegged UAE dirham has been buying noticeably less sterling in recent months. And that could impact savings, purchasing power or render UK-domiciled bills more burdensome for some Britons in the UAE. In early trading on Tuesday, sterling rose 0.2 per cent to $1.4240 after briefly hitting $1.4248 against the greenback – its highest level in three years and marking a second straight monthly gain of 2.8 per cent in May, according to Reuters. ....
‘Many international professionals have been burned by taking the wrong type of advice’ The UAE financial advice sector is improving. But it remains haunted by past misdeeds which are still raw in the minds of victims of bad advice. Consultancy firm Insight Discovery recently surveyed 1,222 UAE residents and found that, by profession, financial advisers in the UAE have the fifth worst reputation in the country. But when it came to western expats, they lambasted UAE financial advisers as the least trusted group. Sometimes, there is such a thing as bad press. International Adviser spoke to several firms in the UAE financial advice space to discuss how advisers can get expats’ trust back. ....
SHARE The UAE ranked 18th out of 59 destinations in the world for expatriates to work and live abroad, according to a new survey by global network InterNations. The list was dominated by Asian and South American locations, with Taiwan leading the ranking for the third year in a row followed by Mexico, Costa Rica, Malaysia and Portugal, according to the Expat Insider 2021 study published on Tuesday. The bottom cities for expats included Kuwait, Italy and South Africa. The main indices measured in the seventh edition of the survey of more than 12,000 expatriates included quality of life, ease of settling in, working abroad, personal finance and cost of living. Respondents also discussed how the Covid-19 pandemic had impacted their life abroad, but these responses did not influence the overall ranking, the report said. ....