What's gone down – and what's coming up
WELCOME to the second edition of cashy's weekly news update and look ahead at what's on.
This week, investment has been the topic of choice… whilst shoppers appear to have fallen back into their addiction.
With that in mind, it's your last chance to win at the Dubai Shopping Festival and there's also the opportunity to improve your 'lift pitch'. Enjoy!
The week that was…
Invest in classic cars
A new investment fund, IGA Automobile, is offering investors the chance to profit by putting their money into cars. The seven-year fund will buy a range of rare classic cars, including the Ferrari 250 GTO and the Aston Martin DB4 Zagato. The returns could be pretty racy. Ray Bellm, the British car racing driver and co-founder of the fund, says a classic car bought in 1991 for $8 million would now be worth $82m. Sound good? Well, the minimum investment in the fund, which aims to launch in April, is $500,000. You'd better start saving!
Olympic investment for the Arab world
From cars to property, and investors in the Arab world could profit from opportunities in the UK with the build-up to the Olympic Games now in full swing. Seer Acquisitions and Kanoo Property have joined forces to market prospective UK properties to Arab world investors. At a time when the local property market is under scrutiny, the London market could provide a more resilient platform for investors. What do you think – good investment opportunity or still risky business?
Uncertainty surrounds Egypt
Unless you were on the moon this week, you couldn't fail to miss the 'dethroning' of President Mubarak. What does it mean for Egypt's economy? Well, until we know what kind of a government is going to be formed, what the role of the military will be and, most importantly, how the public react, it's hard to say. Investors should bide their time until the medium-term political scenario is clearer.
Increase in luxury spending
Demand for luxury goods in the UAE is on the rise again. Wealthy Emiratis have been battling the economic elements to give retail businesses a much-needed boost. In fact, the world’s most expensive truffle at AED 1,000 ($272) has gone on sale in our very own Dubai. If you had a spare AED 1,000 what would you splash out on?
How much did you spend on your Valentine? A study by Yahoo Maktoob Research suggests consumers in the Emirates were set to spend more than any of their Arabic neighbours. Some 46% of those surveyed said they would spend between $101 and $500 on their other half, with gifts ranging from flowers to cosmetic surgery! Tell us what you bought – budget or budget-buster?
The week ahead…
So, what's worth checking out in the next week or so?
Improve you lift pitch
You're in a lift and meet a potential investor for your company, but can't think of what to say... sound like you? 'Your red hot elevator pitch' seminar could be just what you need. The double winner of the GB & All-Ireland Championship of Public Speaking, Simon Bucknall, aims to help people develop networking skills and learn how to 'sell' their ideas. It takes place at 6.30pm on 21 February at Media Rotana Hotel in Al Barsha. To book, visit the Heels & Deals website where it costs AED 120 ($33) for members and AED 150 ($41) for non-members. The closing date for reservations is 17 February, so hurry!
Don't forget the Dubai Shopping Festival is still taking place this week. The Dubai Gold and Jewellery Group is running a competition where gold shoppers have the chance to win gold and cash prizes worth millions. The prize draws take place up until 20 February. Head to Global Village and see what golden opportunities await you.
Souq up the fun
If you want to get your shopping fix before the DSF ends, cashy recommends the night souq held at Al-Riqqa Street. You can shop till you drop and enjoy a leisurely night out for all the family. There’s entertainment, dining, music and, needless to say, loads of shopping! Enjoy discounts, bargains and deals while you still can. It starts at 6pm daily and runs until 20 February. The souq closes at 2am on weekdays and 3am at the weekend.
Fringe Festival fun
Fancy some free entertainment? Why not try Dubai Fringe Festival at the Wafi Mall where international performers gather to entertain the public. Attractions include an interactive clown theatre, cartoon show and a parade. It takes place daily between 6pm-10pm until 28 February and is free entry for all!
Pic credit: Gregory Szarkiewicz/ FreeDigitalPhotos.net
What do you think of the week's headlines? Are you going to be attending any of the upcoming events? Share with cashy...