72% of consumers looking for better bank rewards
A recent survey conducted by Collinson Group revealed that 72 percent of UAE’s middle class consumers would like more rewards from their banks. The results highlighted the importance of rewards and benefits offered by banks in order to retain their customer base. The poll also showed:
- 60 percent of survey respondents believe they have credit cards which don’t offer enough benefits such as cashback and air miles.
- Around two thirds of the respondents felt more loyal towards providers who were offering rewards and benefits with their products.
Abu Dhabi cost of living on the rise
According to The National, consumer price inflation has increased primarily due to increase in fuel prices. Cost of living in Abu Dhabi is accelerating and the emirate already ranks 33rd in the world’s most expensive places to live in. The numbers show:
- An increase in inflation from 5.4 percent in July to 6.1 percent in August.
- Rising inflation was linked to a 12 percent increase in transportation cost due to the hike in fuel prices.
- A report by CBRE revealed that the average monthly rental spend for a household in Abu Dhabi was $2,649, making its rents the second most expensive in the world.
Unified inspection standards for UAE Schools
Based on the document, UAE School Inspection Framework for 2015-16 released by The Ministry of Education, unified inspection standards will be put in place to assess and rate schools in the UAE. The National reported that this framework will be implemented from September on wards. Previously, Abu Dhabi and Dubai schools were inspected and rated at different times and scales. The new system will rate schools on a standardized scale, giving them ratings such as very weak, weak, acceptable, good, very good or outstanding.