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Singapore’s TSLC raises $25m in Abu Dhabi

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The Social Loan Company (TSLC), a Singaporean FinTech start-up, has raised over $25 million to enhance its market presence, manpower and production in Abu Dhabi.

The company said an investor consortium led by Abu Dhabi Global Market-domiciled ARV Investments took part in the funding round.

ARV Investments is a global vehicle under ARI Holding, an Abu Dhabi investment group that has the mandate to invest globally.

International institutional investors, such as Rothschild & Co, also launched a Series B funding round of over $100 million for TSLC.

TSLC CEO & co-founder Deepak Saluja said that his company seeks to enter new markets in Latin America, the Middle East, Sub-Saharan Africa and Asia-Pacific.

Appreciating Rothschild role, he said that they were excited to have such a global institutional investor to their Series B funding round, which would help them enhance innovation, achieve breakthrough growth and fulfil their mission.

TSLC was founded in 2016 and is popular for its ecosystem of Artificial Intelligence-powered, big-data-driven personalised financial solutions. The funding would help boost its digital lending operations and enhance its AI capabilities in targeted markets.

The company has over 8 million digital natives on its platform in India under the brand CASHe. It recently established a presence in the UAE as it plans ‘a mobile-first credit-led platform’ in the Middle East within the next six months. Once launched, the platform will create affordable and personalised credit to middle-income consumers.

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Ring in the New Year on Dubai’s waters: Abra, Taxi & Ferry with Atlantis views

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As Dubai residents and tourists gear up to celebrate New Year, they can ring in 2025 with celebrations in the waters of the emirate.

The Roads and Transport Authority in Dubai has announced special offers and exclusive services during the New Year’s Eve, December 31, 2024, on marine transport means including the Dubai Ferry, the Abra, and the Water Taxi.

Passengers can enjoy views of the Burj Khalifa, Bluewaters, Atlantis, Burj Al Arab and Jumeirah Beach Towers. Residents can cruise into 2025 aboard the Dubai Ferry, Water Taxi, and Abra, with the backdrop of the Dubai coastline, adorned with hotels, heritage areas and landmarks such as The World Islands.

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Dubai Safari to introduce extended hours for night safaris

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Timings at the Dubai Safari Park will be extended this winter season, allowing visitors to experience the attraction at night. Evening visitors will be able to observe changes in the animals’ behaviour as the night deepens. The park’s lions will roar more, the usually elusive pygmy hippos will be more active and the predatory instincts of carnivores primed for nocturnal hunting will intensify.

The night safari timings of 6pm to 8pm will be applicable for a limited period—from December 13 to January 12. Tickets will be sold on the park’s website starting from December 11.

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The extended hours will include two night safaris led by wildlife guides. Visitors can “expect to catch” a glimpse of the night-time routines of over 90 species, “besides participating in interactive activities involving animals”, the park’s operator said. The safari will host live performances, including an African fire show and a neon display. Visitors will be able to observe and study the animals’ natural adaptations at night, which include enhanced night vision, echolocation, and a heightened sense of smell and hearing.

Ahmad Al Zarouni, director of Public Parks and Recreational Facilities at Dubai Municipality, said, “With the introduction of the unique night safari, we are excited to reveal a new perspective on the world of wildlife after dark. This experience offers a rare opportunity to explore hidden aspects of life in the wild and learn about our constant efforts to enhance animal welfare, by day and by night.”

The extended timings are being offered amid the country’s peak tourist season.

According to the Dubai Safari Park, “well-considered measures” are in place to ensure that the ecosystem and animals’ natural routines remain undisturbed during the night safaris. “Only nocturnally active species will be part of the safari experience, allowing guests to observe them in their most natural state.”

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Dubai to reinstate 30% Alcohol Sales Tax in 2025

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From January 1, 2025, Dubai will reintroduce a 30% municipality tax on alcohol sales across the emirate. This tax, initially suspended at the end of 2022 as part of a trial period for 2023, was extended through 2024 before the recent announcement of its reinstatement.

What the Suspension Meant for Consumers and Businesses :

When the tax was first paused, restaurants and bars benefitted from lower procurement costs, while retailers like MMI and African+Eastern reduced their prices, allowing consumers to enjoy significant savings. However, the impact on restaurant and bar pricing was less straightforward, as some establishments passed on partial savings rather than the full 30% reduction.

With the return of the tax, prices at both retail outlets and hospitality venues are expected to increase, affecting consumers directly.

How to Apply for an Alcohol License in Dubai :

Though the UAE removed the criminal offense of consuming alcohol without a license on November 7, 2020, an alcohol license is still required for purchasing and possessing alcohol in Dubai.

The process to obtain a license is straightforward and free. Residents can apply using their Emirates ID, while tourists can use their passport. Applications can be made in-store at African+Eastern or MMI outlets or completed instantly online with staff assistance.

Prepare for changes in pricing as the reinstated tax takes effect, and ensure you have the proper license to make your purchases in compliance with Dubai’s regulations.

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