Why Dubai’s pension schemes for expats matter and what is Electronic return Document? Our editors comment on the top stories of October 11

In spotlight: Google Tottenham deal can be a game changer for the club

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IN UAE, PENSION SCHEMES MARK OUT A FINANCIAL FUTURE FOR EXPATS: It’s difficult to break habits, especially those related to planning for a life of retirement. Through the decades, employers in the UAE have taken care of the gratuity schemes, and laws are clear on just about all the processes associated with funding them. Employees on their part would have an idea of how much they are eligible at the time of leaving the employer. But now, the time is ripe for employees to turn more hands on with their retirement planning – paying into pension schemes. It will give them a more direct sense of planning for the financial future, and with certain schemes, decide on the element of investment risk they want to take on. National Bonds’ push into this space – through the Golden Pension Scheme – makes it accessible to the ’89 per cent of the population’ who are expatriates. Working with employers, the scheme can help gain more traction for pension planning. And at the right time, prepare employees for a possible future switch from gratuity schemes. (By Manoj Nair, Business Editor)
Shutterstock
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‘Electronic return Document’—a huge relief for Emirati travellers: The UAE has made travelling hassle free for its citizens in case they lose their passports on a trip abroad. The Ministry of Foreign Affairs and International Cooperation on Monday announced to launch an electronic ‘Return Document’ service for UAE citizens who lose their passports while abroad. The clearance is issued in less than 30 minutes and uses high security and the electronic document that is sent via email and without fees. The Ministry provides the electronic service for Emiratis abroad in the event of damage, loss or expiration of the passport, and for newborns. This new electronic service comes as a simplification of the emergency passport issuance service to reduce the processing time. (By Ashfaq Ahmed, Senior Assistant Editor)
Bloomberg
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NEW ZEALAND BATTLES THE BURP: How do you stop animals from burping? New Zealand's farmers are protesting a new proposal by the government to tax famers for the greenhouse gases produced by animals. New Zealand has 5 million people but some 10 million beef and dairy cattle and 26 million sheep, making it a leader in dairy products. Methane from cattle burps and nitrous oxide from their urine produce gasses that warm the planet, leading to the move by the government. Farmers are unhappy with the proposal and have said that farms will be replaced with trees. Let's hope the animals will not be a casualty in the fight against global warming. (By Alex Abraham, Senior Associate Editor)
Shutterstock
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GOOGLE’S TOTTENHAM DEAL CAN BE A GAME CHANGER FOR CLUB: Tottenham have been playing in their new 62,850-capacity stadium for over three years and may now have finally found a sponsor for a naming rights deal, multinational technology giants Google. If a deal is struck it would be a game changer for the North London club and really put them on the map. Google has a number of sports partnerships including Formula One team McLaren and commercial agreements with the NBA and MLB in the US. Barcelona recently reached an agreement with Spotify for naming rights of the Nou Camp which was reportedly worth around £78million-a-year but the Google deal could be worth double for Spurs who already boast the fifth-best annual turnover in the Premier League. With their finances bulging, the club could attract the best players and silverware will surely follow. (By Imran Malik, Assistant Sports Editor)
AFP
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AMITABH BACHCHAN TURNS 80 WITH STYLE: You know you are an icon when more than billion movie-mad Indians and idols unite to celebrate your 80th birthday. If Southern superstar Rajinikanth describes him as a true legend, then Indian Prime Minister Narendra Modi has called him the “most remarkable film personality”. These superlative labels do complete justice to the actor, who has thrived for more than five decades in Indian cinema. His popularity, undoubtedly, transcends class, religion, caste, and countries. But what I love most about this icon – apart from his rich, baritone voice and towering personality – is that he’s one of rare Bollywood stars who turns up for interviews on time. In an industry that’s notorious for stars turning up late for interviews (here’s looking at you Shah Rukh Khan), Bachchan respects everyone’s time and is painfully polite. Even if we are younger than him, he always addresses you as ‘madam’ and answers questions after giving it a lot of thought. Here’s hoping time is always on his side. (By Manjusha Radhakrishnan Entertainment Editor)
insta/amitabhbachchan

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