Oman Sail was set up in 2008 with a government grant to create a round-the-world, Muscat-to-Muscat sailing race and build a sailing school for young Omanis.
The organisation now operates sailing schools in Oman and stages Sailing Arabia — The Tour yacht race.
Here, Oman Sail’s chief executive David Graham and the business development director Bryan Winning talk about the company’s objectives, its achievements so far and where they plan to go from here.
How does Oman Sail work?
David Graham: Oman Sail has three objectives. One is branding the country as a tourist destination. Another is having a sports programme that has Olympic and offshore aspirations, and another objective is helping start marine businesses. All our objectives are underpinned by job creation and development of young Omanis. In our company there are 220 people now and we are 80 per cent Omanised. It's a high percentage and it runs through the core of what we do. All our sailing instructors are Omani and they've all been through rigorous courses. We've got an unblemished safety record which we are very proud of and you won't see an Oman Sail boat on the water without an Omani on it.
And of course, the country does have a seafaring heritage, which probably makes sailing a good fit with its image?
Mr Graham: Traditionally, Oman had a very strong sailing culture and it's a past that the country is very, very proud of. One of our objectives is to reignite the maritime eminence that the country once had. Dean Barker, who sailed with the Americas Cup, his quote was perhaps the most fitting: he said that Oman is as good as it gets in the world as a sailing venue; there is a huge and varied coastline and it has near-to-perfect sailing conditions.
Oman Sail gets a government grant. But you are also looking at other ways to raise money, correct?
Bryan Winning: We are a non-profit organisation supported by the ministry of tourism in Oman. We get a government grant to develop sailing activities across Oman. But to be able to do more, we look to commercialise [some] things we are doing, find sponsorship money and create new projects so we can teach more children and make the effect go further.
Mr Graham: We’ve started a small yacht charter business. We are running events which in time will be commercially sustainable. We are running a marina in Musandam on a commercial basis. While the primary objective of the sailing school — of which we now have four — is to get the kids into the sport of sailing and teaching Omani sailing instructors, we are using the shoulder period to sell sailing courses. We are free for young Omanis but an Omani family or an expat family that would like to go on a sailing course — we are offering that and that is generating reasonably significant revenues now. It’s early in the planning stages but we are looking at manufacturing racing boats.
Mr Winning: We just launched a personal development programme. We are working with the youth of Oman at the moment but potentially that will be available regionally and will use training and land-based activities to bring out their employability skills. A number of [young people] are unemployed and we want to use what we are doing to give them greater skills and then develop from that into offering corporates the chance to develop their staff.
Why do more sponsors want to get involved?
Mr Winning: Our broad remit is sport for the development of the Omani people so a lot of the organisations that we work with are supporting the project to be able to provide training, life experience and skills to Omani youth. We have other organisations that are Omani that want to portray themselves internationally. The Wave, Muscat is a big development project here and it is very keen to be in the high end of the market in Europe. So does OmanAir, which is trying to seek an international audience. One of the reasons that sailing has been chosen is that Oman is positioning itself as an upmarket tourist destination and sailing very much fits with that. We are targeting the markets that are important to Omani organisations. Sailing is popular in the UK and France, which are important markets for OmanAir.
What kind of sponsorship opportunities are available?
Mr Winning: An organisation that is looking to make a genuine effect by serving the community can get involved that way. Then, we've just finished the Sailing Arabia race from Bahrain to Doha and the UAE, and EFG Bank sponsors that. It gives them an engagement platform in each of those markets. All of the boats are branded with their logo and that event generates over Dh10 million worth of media value.
Which part of an organisation’s budget does the sponsorship money typically come from?
Mr Winning: A lot of the larger organisations such as Omantel and Bank Muscat are combining budgets. They will say, 'This has a large CSR [corporate social responsibility] element so the CSR department is going to fund an element of it. And we are going to use this in the Omantel stores or in the bank's branches and so marketing spend will be put against it. Then, we have a business-to-business element as well where we can entertain our clients, engage our clients, sell new business and therefore our business development team are going to contribute.' So the budget is coming from a number of different areas.
What kind of media coverage do you get?
Mr Winning: The Extreme Sailing Series [TV show makers] are making spectator-friendly, high-octane programmes featuring two of our boats — Oman Air and The Wave, Muscat — and that is a strong media package. Then we've got a 50ft trimaran and the races it participates in are televised. We started a women's programme which is tasked with developing their sporting capabilities. Culturally that's sensitive but that's also grabbing the headlines.
Mr Graham: Sailing Arabia — The Tour has got a profile that goes beyond this. It's a really nice way of showing off the beautiful coastline; we'll make a lovely film and we'll get that on the airline, on global television.
Do you track whether what you are delivering offers a good return to sponsors’ investment?
Mr Graham: We report annually to all of our partners our results and very strict key performance indicators so they can manage their return on their investment.
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COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
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.”
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Mohammed bin Zayed Majlis
Killing of Qassem Suleimani
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
THE SPECS
Engine: 1.5-litre turbocharged four-cylinder
Transmission: Constant Variable (CVT)
Power: 141bhp
Torque: 250Nm
Price: Dh64,500
On sale: Now
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
Company%20profile
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Read more from Johann Chacko
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Company%20profile
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RESULTS
Women:
55kg brown-black belt: Amal Amjahid (BEL) bt Amanda Monteiro (BRA) via choke
62kg brown-black belt: Bianca Basilio (BRA) bt Ffion Davies (GBR) via referee’s decision (0-0, 2-2 adv)
70kg brown-black belt: Ana Carolina Vieira (BRA) bt Jessica Swanson (USA), 9-0
90kg brown-black belt: Angelica Galvao (USA) bt Marta Szarecka (POL) 8-2
Men:
62kg black belt: Joao Miyao (BRA) bt Wan Ki-chae (KOR), 7-2
69kg black belt: Paulo Miyao (BRA) bt Gianni Grippo (USA), 2-2 (1-0 adv)
77kg black belt: Espen Mathiesen (NOR) bt Jake Mackenzie (CAN)
85kg black belt: Isaque Braz (BRA) bt Faisal Al Ketbi (UAE), 2-0
94kg black belt: Felipe Pena (BRA) bt Adam Wardzinski (POL), 4-0
110kg black belt final: Erberth Santos (BRA) bt Lucio Rodrigues (GBR) via rear naked choke
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
COMPANY%20PROFILE
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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
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
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Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5