Although Mike Ryan has learnt from past financial mistakes, the clinical trichologist says money does not rule his life. Satish Kumar / The National
Although Mike Ryan has learnt from past financial mistakes, the clinical trichologist says money does not rule his life. Satish Kumar / The National

Money&Me: Moving on from property loss



Mike Ryan is a clinical trichologist at Vivandi Hair Spa in Dubai. The British doctor, who moved to the UAE a year ago and specialises in hair, scalp and skin disorders and diseases, says that hair loss has a huge effect on a patient's self-esteem, image and can even ruin careers.

Describe your financial journey so far.

I come from a one-parent family. It was just me and my mum and she had three jobs to support me through my education. When I graduated from university, I worked for L'Oréal in its research and development laboratory. I tried to give mum back as much as I could because she supported me for all those years. I don't support her now because she is financially independent, but the value of money is important knowing that it's never been readily available.

Are you a spender or a saver?

A spender for sure. I've tried over the years to invest and save and for some reason it seems to go pear-shaped. I'm not very good at choosing the right place to put my money. I end up losing more than I save. It puts me off saving because I've been burnt twice and it leaves a very bitter taste in your mouth when you lose lots of money.

Have you made any financial mistakes?

It was misfortune rather than mistakes. I bought property and I always seem to buy at the wrong time - when we go into recession. There have been two recessions in my lifetime, where the housing market has almost crashed - the early 1990s and in 2008. I had property in both those periods that I needed to sell and I lost a lot of money. I was taught that money is safe in bricks and mortar, but it's not - at least in my case.

What is your philosophy towards money?

Money is not my god. I've met a lot of people in life where it is their sole driver, but it doesn't rule my life and it doesn't get me out of bed in the morning. I work to live, I don't live to work.

What has been your most valuable financial lesson?

Taking the correct advice from people who know what they are talking about when it comes to investments and matters of money. It's a little bit like medicine. A lot of people know a remedy that cured their Auntie Betty and when it comes to finances, there are a lot of people who know a lot about nothing. So if you take advice from friends and family, even though it's very well meaning, it's not qualified. If I was going to invest again, I would make sure I went to a qualified person with a very good track record and testimonials to prove their success.

Why did you decide to become a doctor?

The driving force behind that was to always help people. It's a vocation rather than a job. I decided to be a doctor at 14 because another family member was a doctor and it seemed like a natural career progression. It was never a decision based on money.

Why is it so important for people with hair disorders to get them treated?

It affects people's confidence. I see a wide range of patients, from children right through to senior executives. The psychological effects on them are all the same. It doesn't matter what gender or profession they are, the psychological side of it is quite immense and should never be underestimated. It can affect self-esteem, image and even careers. The hair itself has no function within humans any more other than self-esteem and sexual attraction. And there is a distinction to be made between men and women. Men lose their hair primarily because of genetic reasons, but there are 50 reasons why women can, whether it's a thyroid problem, diabetes, the humidity or stress. The morbidity rate of people who lose their hair is 13 per cent - where people actually resort to killing themselves after hair loss.

What has been your biggest financial challenge?

Moving to Dubai. I had to leave property back in the UK, so there were all the complications of renting the house out, such as do you put it with agents or family, or do you sell it? Then when you come here, you don't realise how much the cost of setting up here is. I certainly didn't. There's paying rent for a year in advance; the whole wardrobe is different here than in the UK and the lifestyle is certainly more expensive. It's the hidden things that you tend not to factor in when you come out here.

What do you like to invest in?

Art. I know nothing about art, but a friend of mine is an artists' broker. She tells me who to buy because they will make money eventually. I've bought a few pieces from her and they seem to be a very good investment. I keep them stored in my parent's house.

Do you plan for the future?

I have money in independent pension schemes that I put into for the latter days back in the United Kingdom. Back home, we're brainwashed into the fact that you need to save for your old age so it's something I've always done.

What do you like to spend on?

On social time with my friends. I spend most of my time at the golf club, so when it comes to spending my money that's where it is. I'm not interested in fast cars or gadgets.

UAE currency: the story behind the money in your pockets
COMPANY PROFILE

Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends

A QUIET PLACE

Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou

Director: Michael Sarnoski

Rating: 4/5

Kill

Director: Nikhil Nagesh Bhat

Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal

Rating: 4.5/5

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.

INDIA'S TOP INFLUENCERS

Bhuvan Bam
Instagram followers: 16.1 million
Bhuvan Bam is a 29-year-old comedian and actor from Delhi, who started out with YouTube channel, “BB Ki Vines” in 2015, which propelled the social media star into the limelight and made him sought-after among brands.
Kusha Kapila
Instagram followers: 3.1 million
Kusha Kapila is a fashion editor and actress, who has collaborated with brands including Google. She focuses on sharing light-hearted content and insights into her life as a rising celebrity.
Diipa Khosla
Instagram followers: 1.8 million
Diipa Khosla started out as a social media manager before branching out to become one of India's biggest fashion influencers, with collaborations including MAC Cosmetics.
Komal Pandey
Instagram followers: 1.8 million
Komal Pandey is a fashion influencer who has partnered with more than 100 brands, including Olay and smartphone brand Vivo India.
Nikhil Sharma
Instagram followers: 1.4 million
Nikhil Sharma from Mumbai began his online career through vlogs about his motorcycle trips. He has become a lifestyle influencer and has created his own clothing line.
Source: Hireinfluence, various

Get Out

Director: Jordan Peele

Stars: Daniel Kaluuya, Allison Williams, Catherine Keener, Bradley Whitford

Four stars

RESULTS

3.30pm: Al Maktoum Challenge Round 3 – Group 1 (PA) $75,000 (Dirt) 2,000m
Winner: Jugurtha De Monlau, Pat Dobbs (jockey), Jean-Claude Pecout (trainer)

4.05pm: Dubai City Of Gold – Group 2 (TB) $250,000 (Turf) 2,410m
Winner: Global Storm, William Buick, Charlie Appleby

4.40pm: Burj Nahaar – Group 3 (TB) $250,000 (D) 1,600m
Winner: Discovery Island, James Doyle, Bhupat Seemar

5.15pm: Nad Al Sheba Turf Sprint – Group 3 (TB) $250,000 (T) 1,200m
Winner: Al Dasim, Mickael Barzalona, George Boughey

5.50pm: Al Bastakiya – Listed (TB) $170,000 (D) 1,900m
Winner: Go Soldier Go, Adrie de Vries, Fawzi Nass

6.25pm: Al Maktoum Challenge Round 3 – Group 1 (TB) $450,000 (D) 2,000m
Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass

7.10pm: Ras Al Khor – Conditions (TB) $300,000 (T) 1,400m
Winner: Al Suhail, William Buick, Charlie Appleby

7.45pm: Jebel Hatta – Group 1 (TB) $350,000 (T) 1,800m
Winner: Alfareeq, Dane O’Neill, Charlie Appleby

8.20pm: Mahab Al Shimaal – Group 3 (TB) $250,000 (D) 1,200m
Winner: Sound Money, Mickael Barzalona, Bhupat Seemar

The specs

Engine: Dual synchronous electric motors
Power: 646hp
Torque: 830Nm
Transmission: Two-speed auto (rear axle); single-speed auto (front)
Price: From Dh552,311; Dh660,408 (as tested)
On sale: now

SPEC SHEET: APPLE IPHONE 14

Display: 6.1" Super Retina XDR OLED, 2532 x 1170, 460ppi, HDR, True Tone, P3, 1200 nits

Processor: A15 Bionic, 6-core CPU, 5-core GPU, 16-core Neural Engine 

Memory: 6GB

Capacity: 128/256/512GB

Platform: iOS 16

Main camera: Dual 12MP main (f/1.5) + 12MP ultra-wide (f/2.4); 2x optical, 5x digital; Photonic Engine, Deep Fusion, Smart HDR 4, Portrait Lighting

Main camera video: 4K @ 24/25/3060fps, full-HD @ 25/30/60fps, HD @ 30fps; HD slo-mo @ 120/240fps; night, time lapse, cinematic, action modes; Dolby Vision, 4K HDR

Front camera: 12MP TrueDepth (f/1.9), Photonic Engine, Deep Fusion, Smart HDR 4; Animoji, Memoji; Portrait Lighting

Front camera video: 4K @ 24/25/3060fps, full-HD @ 25/30/60fps, HD slo-mo @ 120fps; night, time lapse, cinematic, action modes; Dolby Vision, 4K HDR

Battery: 3279 mAh, up to 20h video, 16h streaming video, 80h audio; fast charge to 50% in 30m; MagSafe, Qi wireless charging

Connectivity: Wi-Fi, Bluetooth 5.3, NFC (Apple Pay)

Biometrics: Face ID

I/O: Lightning

Cards: Dual eSIM / eSIM + SIM (US models use eSIMs only)

Colours: Blue, midnight, purple, starlight, Product Red

In the box: iPhone 14, USB-C-to-Lightning cable, one Apple sticker

Price: Dh3,399 / Dh3,799 / Dh4,649

MATCH INFO

Day 2 at the Gabba

Australia 312-1 

Warner 151 not out, Burns 97,  Labuschagne 55 not out

Pakistan 240 

Shafiq 76, Starc 4-52

Manchester City transfers:

OUTS
Pablo Zabaleta, Bacary Sagna, Gael Clichy, Willy Caballero and Jesus Navas (all released)

INS
Ederson (Benfica) £34.7m, Bernardo Silva (Monaco) £43m

ON THEIR WAY OUT?
Joe Hart, Eliaquim Mangala, Samir Nasri, Wilfried Bony, Fabian Delph, Nolito and Kelechi Iheanacho

ON THEIR WAY IN?
Dani Alves (Juventus), Alexis Sanchez (Arsenal)

The specs

Engine: 6.5-litre V12
Power: 725hp at 7,750rpm
Torque: 716Nm at 6,250rpm
Transmission: 8-speed dual-clutch auto
On sale: Q4 2023
Price: From Dh1,650,000

Spec sheet

Display: 4.7" Retina HD, 1334 x 750, 625 nits, 1400:1, True Tone, P3
Chip: Apple A15 Bionic, 6-core CPU, 4-core GPU, 16-core Neural Engine
Camera: 12MP, f/1.8, 5x digital zoom, Smart HDR, Deep Fusion
Video: 4K+@ 24/30/60fps, full HD+@ 30/60fps, HD+@ 30 fps
Front camera:
7MP, f/2.2, Smart HDR, Deep Fusion; HD video+@ 30fps
Battery: Up to 15 hours video, 50 hours audio; 50% fast charge in 30 minutes with 20W charger; wireless charging
Biometrics: Touch ID
Durability: IP67, dust, water resistant up to 1m for 30 minutes
Price: From Dh1,849

Dubai works towards better air quality by 2021

Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.

The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.

These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.

“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.

“We’re in a good position except for the cases that are out of our hands, such as sandstorms.

“Sandstorms are our main concern because the UAE is just a receiver.

“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”

Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.

There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.

“There are 25 stations in total,” Mr Al Daraji said.

“We added new technology and equipment used for the first time for the detection of heavy metals.

“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”

Company Profile

Name: Nadeera
Based: Abu Dhabi, UAE
Founders: Rabih El Chaar and Reem Khattar
Sector: CleanTech
Total funding: About $1 million
Investors: Hope Ventures, Rasameel Investments and support from accelerator programmes
Number of employees: 12

COMPANY PROFILE

Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside

Common symptoms of MS
  • Fatigue
  • numbness and tingling
  • Loss of balance and dizziness
  • Stiffness or spasms
  • Tremor
  • Pain
  • Bladder problems
  • Bowel trouble
  • Vision problems
  • Problems with memory and thinking
The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat

COMPANY PROFILE

Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

ASIAN RUGBY CHAMPIONSHIP 2024

Results
Hong Kong 52-5 UAE
South Korea 55-5 Malaysia
Malaysia 6-70 Hong Kong
UAE 36-32 South Korea

Fixtures
Friday, June 21, 7.30pm kick-off: UAE v Malaysia
At The Sevens, Dubai (admission is free).
Saturday: Hong Kong v South Korea

THE SPECS

Engine: 3-litre V6 turbo (standard model, E-hybrid); 4-litre V8 biturbo (S)
Power: 350hp (standard); 463hp (E-hybrid); 467hp (S)
Torque: 500Nm (standard); 650Nm (E-hybrid); 600Nm (S)
Price: From Dh368,500
On sale: Now

Company profile

Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices


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