Loretta Ahmed is the regional chief executive of Grayling, an international public relations firm with 54 offices spanning across the United States, United Kingdom, Europe, the Middle East, Africa and Asia Pacific. The Briton, 46, came to the UAE two years ago.
Describe your financial journey so far.
It has been a combination of cautious planning combined with reckless spending. Since becoming a parent in 2011 that has all changed and I’m very much now in the cautious camp when it comes to planning for the future.
Are you a spender or saver?
I’ve moved from spender to saver in the last few years – and luckily that transition coincided with my move to Dubai. It would be very easy to be reckless here but it’s also possible to enjoy all that the UAE has to offer without breaking the bank. Dinner parties at home with friends and family are my favourite way to spend time, so we are not on the social circuit too often. When you live and breathe networking for your job it is the quiet time with family that you relish – a good film with popcorn on the sofa is my idea of a perfect night.
What is your philosophy towards money?
My father passed away very suddenly just over a year ago at the age of 69. We all felt robbed of our time with him and it definitely changed my outlook on life. Yes, we must all save and there is no doubt being a parent makes you really focus on having a secure future, but equally none of us know how long we are here. I am fortunate to be financially secure and that allows me to get the balance right – make sure my family and I are able to experience going to new places and trying new things but always making sure we save enough for the future.
Have you made any financial mistakes along the way?
I bought a flat in London just before the property market crashed in the UK and I sat on negative equity for a few years. It was nail-biting but it has come good in the end and it is now a good investment and something I consider a gift to my daughter for the future.
If you won Dh1 million what would you do with it?
I would move to Kenya and work with the fabulous people there who are building community wildlife conservancies – working with local people to ensure humans and animals can live side by side in a sustainable way. We all have a duty to protect wildlife in its natural habitat for future generations. I adore Kenya and its people. Plus my husband was born there. It is a place I would like to live eventually.
What has been your best investment?
Our family home in the UK. I fell in love with it at first sight and thought we were spending a fortune when we bought it over 10 years ago. I had no idea we were buying at such a great time and that its location would eventually mean we would see such a leap in value.
What do you enjoy spending money on?
Travel. When it comes to holidays I always max out: memories are priceless. Of course, if you asked my husband he would probably disagree and say diamonds. Yes, I do have a diamond addiction. But of course, that is future financial planning in itself as we have one daughter who will be the future beneficiary of my jewellery collection.
lgraves@thenational.ae
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UAE currency: the story behind the money in your pockets
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
The past Palme d'Or winners
2018 Shoplifters, Hirokazu Kore-eda
2017 The Square, Ruben Ostlund
2016 I, Daniel Blake, Ken Loach
2015 Dheepan, Jacques Audiard
2014 Winter Sleep (Kış Uykusu), Nuri Bilge Ceylan
2013 Blue is the Warmest Colour (La Vie d'Adèle: Chapitres 1 et 2), Abdellatif Kechiche, Adele Exarchopoulos and Lea Seydoux
2012 Amour, Michael Haneke
2011 The Tree of Life, Terrence Malick
2010 Uncle Boonmee Who Can Recall His Past Lives (Lung Bunmi Raluek Chat), Apichatpong Weerasethakul
2009 The White Ribbon (Eine deutsche Kindergeschichte), Michael Haneke
2008 The Class (Entre les murs), Laurent Cantet
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
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COMPANY%20PROFILE
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'Hocus%20Pocus%202'
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Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
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%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EAlmouneer%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Dr%20Noha%20Khater%20and%20Rania%20Kadry%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EEgypt%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E120%3Cbr%3E%3Cstrong%3EInvestment%3A%20%3C%2Fstrong%3EBootstrapped%2C%20with%20support%20from%20Insead%20and%20Egyptian%20government%2C%20seed%20round%20of%20%3Cbr%3E%243.6%20million%20led%20by%20Global%20Ventures%3Cbr%3E%3C%2Fp%3E%0A
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
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The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
The specs: 2018 Dodge Durango SRT
Price, base / as tested: Dh259,000
Engine: 6.4-litre V8
Power: 475hp @ 6,000rpm
Torque: 640Nm @ 4,300rpm
Transmission: Eight-speed automatic
Fuel consumption, combined: 7.7L / 100km
Results:
5pm: Maiden (PA) Dh80,000 2,200m | Winner: AF Al Montaqem, Bernardo Pinheiro (jockey), Ernst Oertel (trainer)
5.30pm: Maiden (PA) Dh80,000 1,200m | Winner: Daber W’Rsan, Connor Beasley, Jaci Wickham
6pm: Handicap (PA) Dh85,000 1,600m | Winner: Bainoona, Fabrice Veron, Eric Lemartinel
6.30pm: Handicap (PA) Dh80,000 1,600m | Winner: AF Makerah, Antonio Fresu, Ernst Oertel
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 | Winner: AF Motaghatres, Antonio Fresu, Ernst Oertel
7.30pm: Handicap (TB) Dh90,000 1,600m | Winner: Tafakhor, Ronan Whelan, Ali Rashid Al Raihe
Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
- Upper Bowl standard - Dh295
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.