Gaurav Biswas was at the height of his career when he decided to go it alone. Working as a director for the global consulting firm Aecom, he was involved in some of the UAE's most recognisable projects such as the Atlantis Hotel, Yas Mall and, recently, the Warner Brothers theme park. But the 36-year-old decided to branch out on his own and start a business after hearing from one of his friends in his home country, India, who had struggled to book a lorry there. Flying regularly to Los Angeles at the time for work – where he was a frequent user of Uber taxis – he thought of creating an Uber for lorries and after consulting cofounder Pradeep M, the two set up Trukker at the end of 2015. It operates in India and the UAE.
5am
This morning I was up at 5am because I had a radio interview but typically I wake around 8am. I take my daughter to school and then get on a call with my cofounder and the technology team in India over Skype. They are an hour-and-a-half ahead, so that is why I start the day talking to them.
9.15am
I get to the office. We have a quick 15-minute meeting with the team in the UAE about who is doing what. Trukker is an Uber for lorries, so we aggregate the lorries in the market using a platform where the users can book a lorry instantly and get a quote based on the distance of the pickup and drop off locations and the time it takes to do that transaction. It is very much like an Uber or a Careem, where it is based on how far you are travelling and the kind of car that you select. We offer a range of vehicles; you can get a quote online – as soon as you book you get an instant confirmation. Right now we manage about 70 lorries in the UAE. There are six of us – a small team at the moment, another person is joining soon.
9.30am
Two people handle phone calls, the other two people are primarily business development, so they have meetings all day mostly out of the office. I am pretty much the jack of all trades. I have multiple roles throughout the day.
10am
I have phone calls with clients, some business development. We are targeting construction companies at the moment. Later today I have three other meetings. Right now in the UAE we have different business verticals, the first being the B2C [business-to-consumer] home-moving market, where anybody moving in the UAE can hire professional movers and choose to pay online or cash. The main focus for doing Trukker is really to solve the B2B [business to business] problem that industries use lorries for moving their goods. Clients right now have to call a transporter and if they are not available they have to call somebody else.
12.30pm
We have a working lunch and go to a coffee shop to have a sandwich together and talk about other things.
1.30pm
If I am available I pick up my four-year-old daughter. That is one of the advantages of working for myself, it gives me that flexibility of trying not to have meetings in that half an hour time slot. I bring her home and she has half an hour on the iPad, so she watches cartoons.
2.15pm
I get back to my office. Every day is quite different. Some days I might have a meeting so I drive straight there. Other times I speak to the marketing team about how many leads we received that morning. The marketing team is busy until 6pm or 7pm in the evening. My input would come if they have a question about a particular transaction. I focus more on business development with the larger key clients and also working on our finances, handling the bank accounts – a bunch of stuff.
5.30pm
We encourage our teams not to sit at their desks for too long. At the moment our office does not have a breakout area but we have some nice coffee shops in Jumeirah Lakes Towers, so we take half an hour and grab a coffee and have a break.
7.30pm
I leave the office, depending on how critical things are that we have to do. Some days are busier. I live and work in JLT and my daughter goes to school in JLT, so it is quite easy in terms of the commute. I am back home in 15 minutes and if I walk it’s 20.
8pm
I spend an hour with my wife and daughter, touching base on their day before dinner. My wife is a professional. She is a senior manager with a Dubai company. It’s an exciting world that we have.
12.30am
I am a late sleeper because after dinner is my time to catch up on news and what’s happening in other parts of the world in the technology space. I find things to share with my team and catch up on Facebook. I also go to the gym three times a week.
business@thenational.ae
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%3Cp%3EDungeons%20%26amp%3B%20Dragons%20began%20as%20an%20interactive%20game%20which%20would%20be%20set%20up%20on%20a%20table%20in%201974.%20One%20player%20takes%20on%20the%20role%20of%20dungeon%20master%2C%20who%20directs%20the%20game%2C%20while%20the%20other%20players%20each%20portray%20a%20character%2C%20determining%20its%20species%2C%20occupation%20and%20moral%20and%20ethical%20outlook.%20They%20can%20choose%20the%20character%E2%80%99s%20abilities%2C%20such%20as%20strength%2C%20constitution%2C%20dexterity%2C%20intelligence%2C%20wisdom%20and%20charisma.%20In%20layman%E2%80%99s%20terms%2C%20the%20winner%20is%20the%20one%20who%20amasses%20the%20highest%20score.%3C%2Fp%3E%0A
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Best Foreign Language Film nominees
Capernaum (Lebanon)
Cold War (Poland)
Never Look Away (Germany)
Roma (Mexico)
Shoplifters (Japan)
More from Rashmee Roshan Lall
Profile
Company name: Marefa Digital
Based: Dubai Multi Commodities Centre
Number of employees: seven
Sector: e-learning
Funding stage: Pre-seed funding of Dh1.5m in 2017 and an initial seed round of Dh2m in 2019
Investors: Friends and family
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
THE SPECS
Engine: 1.6-litre turbo
Transmission: six-speed automatic
Power: 165hp
Torque: 240Nm
Price: From Dh89,000 (Enjoy), Dh99,900 (Innovation)
On sale: Now
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LA LIGA FIXTURES
Thursday (All UAE kick-off times)
Sevilla v Real Betis (midnight)
Friday
Granada v Real Betis (9.30pm)
Valencia v Levante (midnight)
Saturday
Espanyol v Alaves (4pm)
Celta Vigo v Villarreal (7pm)
Leganes v Real Valladolid (9.30pm)
Mallorca v Barcelona (midnight)
Sunday
Atletic Bilbao v Atletico Madrid (4pm)
Real Madrid v Eibar (9.30pm)
Real Sociedad v Osasuna (midnight)
How to vote
Canadians living in the UAE can register to vote online and be added to the International Register of Electors.
They'll then be sent a special ballot voting kit by mail either to their address, the Consulate General of Canada to the UAE in Dubai or The Embassy of Canada in Abu Dhabi
Registered voters mark the ballot with their choice and must send it back by 6pm Eastern time on October 21 (2am next Friday)
if you go
The flights
Air France offer flights from Dubai and Abu Dhabi to Cayenne, connecting in Paris from Dh7,300.
The tour
Cox & Kings (coxandkings.com) has a 14-night Hidden Guianas tour of Guyana, Suriname and French Guiana. It includes accommodation, domestic flights, transfers, a local tour manager and guided sightseeing. Contact for price.
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What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Match info:
Burnley 0
Manchester United 2
Lukaku (22', 44')
Red card: Marcus Rashford (Man United)
Man of the match: Romelu Lukaku (Manchester United)
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Our family matters legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.