The fact that working hours are less during the holy month should inspire entrepreneurs to give back to their business even more. Getty
The fact that working hours are less during the holy month should inspire entrepreneurs to give back to their business even more. Getty
The fact that working hours are less during the holy month should inspire entrepreneurs to give back to their business even more. Getty
The fact that working hours are less during the holy month should inspire entrepreneurs to give back to their business even more. Getty

Why we should give back to our businesses during Ramadan


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If there is one word that would be best associated with Ramadan, it would be “giving”.

Millions of Muslims around the world give more to the less fortunate, give more time to spend with family members and give more time to prayers and worship during the holy month.

Ramadan encourages us to test our limits and put our best selves forward.

While many of us focus on giving back to the community, the needy and to give more time to our families and loved ones, it is also important to give back to our businesses and our work.

But how do we do that?

I was inspired to indulge in this exercise a few years ago.

Every year, weeks before the holy month commences, I would draft a plan detailing my targets for the month.

Just like how I plan my work day, I would plan my Ramadan days to ensure I make the most of it spiritually.

I would ensure that certain hours are dedicated to reading the Quran, while others, such as the late hours of the night, are dedicated to prayers.

This spiritual planning made me think about my business.

If every aspect of my life is supposed to be positively inspired by the spirit of the holy month, then my work and business shouldn’t be spared either.

The fact that working hours are less during the month should inspire us to give back to our work even more.

As Muslims, we believe that every good deed multiplies during the month. Therefore, giving back to my business should yield the same result in the long run.

I gave back to my business by investing in non-monetary ways.

I would spend the month doing a mid-year check to assess what was serving my business growth and what wasn’t.

We often dwell too much on day-to-day operations that we miss out on matters that could be negatively impacting our work’s progress.

That’s why Ramadan is the best time to focus on what is working well and shed the extra weight of what is not working.

Just as I would dedicate time to nurture my spirit during Ramadan, I would allocate some time to my business learning.

The shorter working hours and lighter work schedule mean that I have an extra hour or two during the day, which I could dedicate to learning.

Ramadan Wonders at Global Village — in pictures

  • Dubai entertainment destination Global Village has introduced Ramadan Wonders, featuring a range of special activities and entertainment for the holy month. All photos: Chris Whiteoak / The National
    Dubai entertainment destination Global Village has introduced Ramadan Wonders, featuring a range of special activities and entertainment for the holy month. All photos: Chris Whiteoak / The National
  • The Arabian Orchestra perform twice daily during Ramadan
    The Arabian Orchestra perform twice daily during Ramadan
  • Visitors enjoy iftar after a day of fasting
    Visitors enjoy iftar after a day of fasting
  • A clarinetist performs as part of the Arabian Orchestra
    A clarinetist performs as part of the Arabian Orchestra
  • The main stage at Global Village
    The main stage at Global Village
  • Guests are entertained by a tanoura dancer
    Guests are entertained by a tanoura dancer
  • An oud player performs at Majlis of the World
    An oud player performs at Majlis of the World
  • The Majlis of the World
    The Majlis of the World
  • Ramadan lights and decorations
    Ramadan lights and decorations
  • Baljit serves masala chai to visitors
    Baljit serves masala chai to visitors
  • Guests are entertained by a tanoura dancer
    Guests are entertained by a tanoura dancer
  • There are several performances throughout the evening
    There are several performances throughout the evening
  • The cannon fires to signal the end of fasting
    The cannon fires to signal the end of fasting
  • Members of the Arabian Orchestra perform
    Members of the Arabian Orchestra perform
  • Lights and decorations at the Majlis of the World
    Lights and decorations at the Majlis of the World
  • People enjoy iftar after a day of fasting
    People enjoy iftar after a day of fasting
  • Traditional drinks are served across the venue
    Traditional drinks are served across the venue
  • People enjoy iftar after a day of fasting
    People enjoy iftar after a day of fasting
  • Turkish ice-cream is served
    Turkish ice-cream is served
  • The Arabian Orchestra play for the crowd
    The Arabian Orchestra play for the crowd
  • The big wheel displays a Ramadan message
    The big wheel displays a Ramadan message
  • Asian street food is cooked for iftar
    Asian street food is cooked for iftar
  • Visitors buy Rainbow candy
    Visitors buy Rainbow candy
  • Fresh pomegranate juice is made in the Iran pavilion
    Fresh pomegranate juice is made in the Iran pavilion

I prefer the early morning hours, especially after sunrise, to read and nurture my brain.

I would focus on industry-related material and a course that I could sign up for during the holy month that would help my business in the long run.

The right network could make your business soar. Ramadan encourages us to strengthen our connections and our businesses should also be included.

We should make it a habit to check in on our business partners, our support groups, people who help us grow, people we want to learn from and our clients.

If you haven’t found enough time to do that during the year, then Ramadan can be a great start.

Since I ventured into entrepreneurship more than a decade ago, I had high expectations for my business.

Through my journey, I learned, grew, built a life that I love and met amazing people.

My business and work gave me so much, and for any relationship to work in the long run, giving should be mutual.

Manar Al Hinai is an award-winning Emirati writer and communications consultant based in Abu Dhabi.

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Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

Updated: April 03, 2023, 4:15 AM