Michael Daly is the managing director of Bin Moosa & Daly, which specialises in water flow and pressure systems. DELORES JOHNSON / The National
Michael Daly is the managing director of Bin Moosa & Daly, which specialises in water flow and pressure systems. DELORES JOHNSON / The National

Bin Moosa & Daly a part of the Abu Dhabi business story



The recent celebrations held for Bin Moosa & Daly's 50th anniversary were as much a celebration of Michael Daly's father's life and Abu Dhabi's recent history as it was about the company.

Mr Daly often argues that his father, also called Michael, was “the first Irishman in Abu Dhabi”, having arrived in 1958 while working for BP to teach engineering skills to young Emirati students.

Mr Daly senior played a significant role in expat society as Abu Dhabi grew. He helped with the construction of the capital's first church after Sheikh Shakhbout granted land for the building  that became St Joseph's, which opened its doors in 1965. He also played a hand in the setting up of The Club, a private members' club in Abu Dhabi founded in 1962 on land donated by Founding Father Sheikh Zayed, and became its first elected chairman.

“He was well known in Abu Dhabi - played a lot of golf, knew everyone,” says his son, Michael, who is Bin Moosa & Daly's managing director.

“So when you’re having a 50-year celebration a lot of it was about my dad. There was a 95-year-old lady there, Mrs Henderson. Her husband died long ago. He was an ex-British ambassador. But she is still here - courtesy of the Royal Family.”

Another guest was Fr Eugene Mattiolo, an Italian priest who has served in the region for decades.

“He knew my dad for 50 years,” Mr Daly says. “He’s still working in Mussaffah. I said, ‘Fr Eugene, you are 86, you are 60 years a priest - all of it in the Middle East. Isn’t it about time you retired, went back to Italy and enjoyed yourself?’. He said, ‘I’d get bored’.

“He retired two years ago, and then came out of retirement. He’s an amazing man.”

Many of the other guests were from companies whose equipment Bin Moosa & Daly supplies in the region.

“A lot of these are family businesses,” Mr Daly says, explaining that relationships with some of these firms stretch back almost as long as the company’s own history. The Australian company Davey Water Products has been supplying the company with water pumps of all sizes since 1969, for instance.

“We’re their biggest overseas customer,” he says. “We’ve been dealing with them since 1969. In 2005, they had just finished making their four millionth pump. They made two gold-plated pumps. They kept one in their head office in Melbourne and they gave one to me.”

Mr Daly says he had initially planned to follow in his father’s footsteps by working for BP after graduating from university in England, but eventually decided to go into the family business.

“To be honest, if you worked for a big company in those days you could get sent anywhere. I could have been sent to Alaska or Venezuela, and I just didn’t fancy being sent here and there.

“I was brought up here. I spent a lot of time here. It’s an unusual place. It’s unique in the Middle East. There is nowhere else like it. The tolerance, the lifestyle ... I’ve been working here for 42 years and I wouldn’t go anywhere else.

Mr Daly turns 64 this month and although his son Luke is involved in the business running the Dubai showroom,  he says he has absolutely no plans to retire.

“I don’t retire - it’s a family business and I want to stay. Like my dad, they’ll take me out in a box.”

business@thenational.ae

Dengue fever symptoms

High fever (40°C/104°F)
Severe headache
Pain behind the eyes
Muscle and joint pains
Nausea
Vomiting
Swollen glands
Rash

2020 Oscars winners: in numbers
  • Parasite – 4
  • 1917– 3
  • Ford v Ferrari – 2
  • Joker – 2
  • Once Upon a Time ... in Hollywood – 2
  • American Factory – 1
  • Bombshell – 1
  • Hair Love – 1
  • Jojo Rabbit – 1
  • Judy – 1
  • Little Women – 1
  • Learning to Skateboard in a Warzone (If You're a Girl) – 1
  • Marriage Story – 1
  • Rocketman – 1
  • The Neighbors' Window – 1
  • Toy Story 4 – 1
COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

SPEC SHEET

Processor: Apple M2, 8-core GPU, 10-core CPU, 16-core Neural Engine

Display: 13.3-inch Retina, 2560 x 1600, 227ppi, 500 nits, True Tone, wide colour

Memory: 8/16/24GB

Storage: 256/512GB / 1/2TB

I/O: Thunderbolt 3 (2), 3.5mm audio; Touch Bar with Touch ID

Connectivity: Wi-Fi 6, Bluetooth 5.0

Battery: 58.2Wh lithium-polymer, up to 20 hours

Camera: 720p FaceTime HD

Video: Support for HDR with Dolby Vision, HDR10, ProRes

Audio: Stereo speakers with HDR, wide stereo, Spatial Audio support, Dolby support

In the box: MacBook Pro, 67W power adapter, USB-C cable

Price: From Dh5,499

The specs

Engine: 2.0-litre 4-cylturbo

Transmission: seven-speed DSG automatic

Power: 242bhp

Torque: 370Nm

Price: Dh136,814

Five famous companies founded by teens

There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:

  1. Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate. 
  2. Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc. 
  3. Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway. 
  4. Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
  5. Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.

Rooney's club record

At Everton Appearances: 77; Goals: 17

At Manchester United Appearances: 559; Goals: 253

Kalra's feat
  • Becomes fifth batsman to score century in U19 final
  • Becomes second Indian to score century in U19 final after Unmukt Chand in 2012
  • Scored 122 in youth Test on tour of England
  • Bought by Delhi Daredevils for base price of two million Indian rupees (Dh115,000) in 2018 IPL auction
'Morbius'

Director: Daniel Espinosa

Stars: Jared Leto, Matt Smith, Adria Arjona

Rating: 2/5

Confirmed bouts (more to be added)

Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez

Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.

THE APPRENTICE

Director: Ali Abbasi

Starring: Sebastian Stan, Maria Bakalova, Jeremy Strong

Rating: 3/5

'Downton Abbey: A New Era'

Director: Simon Curtis

Cast: Hugh Bonneville, Elizabeth McGovern, Maggie Smith, Michelle Dockery, Laura Carmichael, Jim Carter and Phyllis Logan

Rating: 4/5

The 12

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

Brief scoreline:

Manchester United 2

Rashford 28', Martial 72'

Watford 1

Doucoure 90'

Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices