Phil Broad invests in stocks and bonds to secure short- and - long-term returns.
Phil Broad invests in stocks and bonds to secure short- and - long-term returns.
Phil Broad invests in stocks and bonds to secure short- and - long-term returns.
Phil Broad invests in stocks and bonds to secure short- and - long-term returns.

Money & Me: Dubai food and beverage executive keeps eggs in different baskets


Alice Haine
  • English
  • Arabic

Phil Broad is the vice president of F&B at Alghanim Industries, where his main focus is the Wendy’s brand. For the past year, the father of two grown up children has split his time between the UAE and Kuwait, where his employer has its headquarters. The Briton was previously based in Dubai for five years.

How did your upbringing shape your attitude towards money?

My father started his own business, a construction company building oil compounds and accommodation across the Middle East, including Bahrain, Kuwait, Saudi Arabia and Yemen. Because of this I was fortunate to be raised with an entrepreneurial spirit, something as a father I have tried to pass on to my own children. It’s important to be constantly looking for more opportunities to drive your personal income and career.

How much did you get paid for your first job?

At 16, I was a call order chef working at a riverside restaurant on the Thames in London. I was on the grill preparing burgers, steaks and chicken and I worked on commission, which we used to call “plate money”. My commission was 20 pence per plate; I averaged a monthly income of about £1,000 (Dh4,618).

Are you a spender or saver?

I’m a hybrid; it’s very important to have a work and life balance so I don’t mind treating my family and myself by splashing out on a great dinner. On other days it’s important to be more aware of the value of money.

What is your most cherished purchase?

My Rolex Oyster Perpetual Submariner. It cost around Dh50,000. I have a habit of buying a watch every time I leave a job and move to the next one. This way I am always making sure to remember the good times.

Have you ever had a month where you feared you could not pay the bills?

Yes, when I ran my own business, Outback Steakhouse, and was opening the first restaurant in London in 2001. It was a tough time for the market as we had taken a massive hit due to the backlash from the foot and mouth disease outbreak. Moments like that truly make you value all the amazing things you have in life.

Where do you save?

I believe it’s best not to keep all your eggs in one basket, so a variety of places. I mainly look towards investments, such as stocks and bonds, where I know there will be a return on investment in the short and long term.

Do you prefer paying by credit card or in cash?

Cash. After you’ve run your own business for a while you tend not to run on credit as a habit.

What has been your best investment?

My children and subsequently their education; I love my work but at heart I am a family man.

What do you most regret spending money on?

I once made the mistake of bidding and subsequently ­purchasing Bang & Olufsen speakers on eBay. The item ­never actually arrived and I ­never got my money back, which was frustrating to say the least.

What financial advice would you offer your younger self?

Don’t build up debt when you’re young. Yes, enjoy your earnings but you have to plan for the future. At the same time, don’t be afraid to take a risk every so often.

If you won Dh1 million, what would you do with it?

I would pay it forward; I’ve been very lucky and it’s incredibly ­important to give back to others. I would give it to a charitable organisation, particularly one that enables children in underdeveloped countries to have an education and secure a bright future.

What would you raid your savings account for?

To expand my art collection. My favourites are local art pieces I’ve bought during my travels, for example from Thailand, the UAE and Bali. The collection is a mixture of watercolours and some interesting woodcarvings.

arayer@thenational.ae

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Biography

Favourite drink: Must have karak chai and Chinese tea every day

Favourite non-Chinese food: Arabic sweets and Indian puri, small round bread of wheat flour

Favourite Chinese dish: Spicy boiled fish or anything cooked by her mother because of its flavour

Best vacation: Returning home to China

Music interests: Enjoys playing the zheng, a string musical instrument

Enjoys reading: Chinese novels, romantic comedies, reading up on business trends, government policy changes

Favourite book: Chairman Mao Zedong’s poems

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
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The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
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What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

COMPANY PROFILE

Company name: Blah

Started: 2018

Founder: Aliyah Al Abbar and Hend Al Marri

Based: Dubai

Industry: Technology and talent management

Initial investment: Dh20,000

Investors: Self-funded

Total customers: 40

UAE currency: the story behind the money in your pockets
Cinco in numbers

Dh3.7 million

The estimated cost of Victoria Swarovski’s gem-encrusted Michael Cinco wedding gown

46

The number, in kilograms, that Swarovski’s wedding gown weighed.

1,000

The hours it took to create Cinco’s vermillion petal gown, as seen in his atelier [note, is the one he’s playing with in the corner of a room]

50

How many looks Cinco has created in a new collection to celebrate Ballet Philippines’ 50th birthday

3,000

The hours needed to create the butterfly gown worn by Aishwarya Rai to the 2018 Cannes Film Festival.

1.1 million

The number of followers that Michael Cinco’s Instagram account has garnered.

Ain Issa camp:
  • Established in 2016
  • Houses 13,309 people, 2,092 families, 62 per cent children
  • Of the adult population, 49 per cent men, 51 per cent women (not including foreigners annexe)
  • Most from Deir Ezzor and Raqqa
  • 950 foreigners linked to ISIS and their families
  • NGO Blumont runs camp management for the UN
  • One of the nine official (UN recognised) camps in the region
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LEADERBOARD
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The Disaster Artist

Director: James Franco

Starring: James Franco, Dave Franco, Seth Rogan

Four stars

Bio

Born in Dubai in 1994
Her father is a retired Emirati police officer and her mother is originally from Kuwait
She Graduated from the American University of Sharjah in 2015 and is currently working on her Masters in Communication from the University of Sharjah.
Her favourite film is Pacific Rim, directed by Guillermo del Toro

If you go

The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at. 
Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti with Coastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.   

The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 240hp at 5,500rpm

Torque: 390Nm at 3,000rpm

Transmission: eight-speed auto

Price: from Dh122,745

On sale: now

MATCH INFO

Uefa Champions League, last-16. first leg

Atletico Madrid v Juventus, midnight (Thursday), BeIN Sports

Dubai Creek Open in numbers
  • The Dubai Creek Open is the 10th tournament on this year's Mena Tour
  • It is the first of five events before the season-concluding Mena Tour Championship
  • This week's field comprises 120 players, 21 of which are amateurs
  • 15 previous Mena Tour winners are competing at Dubai Creek Golf and Yacht Club  
Series information

Pakistan v Dubai

First Test, Dubai International Stadium

Sun Oct 6 to Thu Oct 11

Second Test, Zayed Stadium, Abu Dhabi

Tue Oct 16 to Sat Oct 20          

 Play starts at 10am each day

 

Teams

 Pakistan

1 Mohammed Hafeez, 2 Imam-ul-Haq, 3 Azhar Ali, 4 Asad Shafiq, 5 Haris Sohail, 6 Babar Azam, 7 Sarfraz Ahmed, 8 Bilal Asif, 9 Yasir Shah, 10, Mohammed Abbas, 11 Wahab Riaz or Mir Hamza

 Australia

1 Usman Khawaja, 2 Aaron Finch, 3 Shaun Marsh, 4 Mitchell Marsh, 5 Travis Head, 6 Marnus Labuschagne, 7 Tim Paine, 8 Mitchell Starc, 9 Peter Siddle, 10 Nathan Lyon, 11 Jon Holland

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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
Honeymoonish
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