It must surely be the true mark of executive dedication, especially on the part of a Brazilian businessman, that he passes up the chance of watching his favourite football team in order to clinch a big business deal.
That is what Pedro Faria, global chief executive of Brazilian foods group BRF, did last month. Torn between watching his team Atletico Mineiro play in a cup final back home, and launching a multimillion dollar investment in Abu Dhabi, he chose the latter. “I was supposed to be giving away the trophy too, but this is more important,” he says with just a hint of regret at the timetable that prevented him being in Belo Horizonte for the game.
From an executive view, the fixture scheduled in Abu Dhabi was unmissable. BRF, Brazil’s fourth largest exporter and its biggest in consumer goods, was opening a new plant in the Khalifa Industrial Zone Abu Dhabi (Kizad) on which it had already spent $180 million and to which it is committed to a further $200m of investment in the medium term.
“We had an invitation from Kizad, and although we looked at other sites in the region this was the most compelling proposition,” Mr Faria says. The deal was smoothed through by BRF’s local partner, the influential Al Nowais family of Abu Dhabi. “The collaboration and cooperation we had from Abu Dhabi officials was very good,” he adds.
The time was right for a major move in the Middle East, which BRF sees as its “home outside of Brazil”, Mr Faria explains. The region is BRF’s largest foreign market, and accounted for 17 per cent of global turnover last year. The company had a regional hub in Dubai, but the Kizad deal offered other advantages.
“There is room for expansion in Kizad, it is only limited by the size of our ambitions. We see it as a hub for global expansion. We’re having interesting discussions with potential partners in West Africa and South-east Asia, and Kizad is perfectly placed for those opportunities. There is also the project of a regional railway link for the future,” he says.
The new factory is the biggest foreign investment yet in Kizad, and will employ 1,400 people as part of the capital’s strategy of economic diversification. Kizad opened formally two years ago with the ambition of becoming one of the largest industrial free zones and trading ports in the region.
There was some speculation that Kizad would cannibalise business already going through Jebel Ali, by some way the biggest port in the Middle East which also has its own dedicated industrial zone, but the BRF investment seems to be proof that the two can exist side by side, even complement each other, from their bases just a few kilometres apart on the UAE coastline.
“One of the attractions of Kizad was that it was so close to Jebel Ali. We already use that as our main import hub in the region. A lot of what we bring in comes through Jebel Ali, and that will continue,” Mr Faria says.
What BRF brings through Jebel Ali at the moment, overwhelmingly, is chickens. The group is the largest exporter of poultry in the world, Mr Faria estimates, and is best known in the region for its range of frozen and processed chickens and other poultry products – burgers, frankfurters, breaded items and sauces – under the 30-year-old Sadia brand.
The produce is 100 per cent halal certified. BRF is the largest halal producer in Brazil, and has 17 plants there that cater for Muslim customers in the country. The group employs 3,500 Muslims in Brazil, Mr Faria says.
The UAE and the Arabian Gulf region are already a big market for its products. The new plant will feed BRF’s well developed infrastructure and distribution system in the region. “Saudi Arabia is a very big market, and in the past we have enjoyed good business in Iraq and Iran too. Those have [been] smaller of course, but there is potential upside in both and we have to be here to react faster to any developments,” he says.
Regional political instability does not worry BRF. “We’ve been here 30 years and the market has never failed to meet our objectives. In any case, we’re Brazilian so we’re used to turmoil,” Mr Faria says.
He says the new Brazilian government under re-elected president Dilma Rousseff would be good for business. “There will be more checks and balances, but the government understands the importance of global companies for the Brazilian economy, and will encourage them. Imminent reforms can jump-start the economy.”
The Kizad investment has been financed from BRF’s own resources, which are considerable. “Our bonds have a better rating than the sovereign. Around 45 per cent of our revenues comes from exports, so even if there is a cooling down in the Brazilian economy we are less vulnerable to that. And a weaker currency is good for exports,” he says.
With an MBA from Chicago University and a career in private equity and banking, Mr Faria is regarded as one of the rising stars of the Brazilian corporate scene. Appropriately enough for a man responsible for the export of so many chickens, his football team’s nickname is “galo” – Portuguese for “rooster”. Maybe next time he will get the chance to present them with a cup.
fkane@thenational.ae
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Brief scores:
Toss: Sindhis, elected to field first
Kerala Knights 103-7 (10 ov)
Parnell 59 not out; Tambe 5-15
Sindhis 104-1 (7.4 ov)
Watson 50 not out, Devcich 49
Fixtures (all times UAE)
Saturday
Brescia v Atalanta (6pm)
Genoa v Torino (9pm)
Fiorentina v Lecce (11.45pm)
Sunday
Juventus v Sassuolo (3.30pm)
Inter Milan v SPAL (6pm)
Lazio v Udinese (6pm)
Parma v AC Milan (6pm)
Napoli v Bologna (9pm)
Verona v AS Roma (11.45pm)
Monday
Cagliari v Sampdoria (11.45pm)
Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
Company profile
Company name: FinFlx
Started: January 2021
Founders: Amr Yussif (co-founder and CEO), Mattieu Capelle (co-founder and CTO)
Based in: Dubai
Industry: FinTech
Funding size: $1.5m pre-seed
Investors: Venture capital - Y Combinator, 500 Global, Dubai Future District Fund, Fox Ventures, Vector Fintech. Also a number of angel investors
Kill
Director: Nikhil Nagesh Bhat
Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal
Rating: 4.5/5
UAE athletes heading to Paris 2024
Equestrian
Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).
Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).
Cycling
Safia Al Sayegh (women's road race).
Swimming
Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).
Athletics
Maryam Mohammed Al Farsi (women's 100 metres).
TERMINAL HIGH ALTITUDE AREA DEFENCE (THAAD)
What is THAAD?
It is considered to be the US's most superior missile defence system.
Production:
It was created in 2008.
Speed:
THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.
Abilities:
THAAD is designed to take out ballistic missiles as they are on their downward trajectory towards their target, otherwise known as the "terminal phase".
Purpose:
To protect high-value strategic sites, such as airfields or population centres.
Range:
THAAD can target projectiles inside and outside the Earth's atmosphere, at an altitude of 150 kilometres above the Earth's surface.
Creators:
Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.
UAE and THAAD:
In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then stationed them in 2016, becoming the first Gulf country to do so.
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
PROFILE OF CURE.FIT
Started: July 2016
Founders: Mukesh Bansal and Ankit Nagori
Based: Bangalore, India
Sector: Health & wellness
Size: 500 employees
Investment: $250 million
Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)
EMERGENCY PHONE NUMBERS
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
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
ROUTE TO TITLE
Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2
Company profile
Name: Maly Tech
Started: 2023
Founder: Mo Ibrahim
Based: Dubai International Financial Centre
Sector: FinTech
Funds raised: $1.6 million
Current number of staff: 15
Investment stage: Pre-seed, planning first seed round
Investors: GCC-based angel investors
COMPANY PROFILE
Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)
DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
Director: Shawn Levy
Rating: 3/5
The specs: 2018 Mitsubishi Eclipse Cross
Price, base / as tested: Dh101,140 / Dh113,800
Engine: Turbocharged 1.5-litre four-cylinder
Power: 148hp @ 5,500rpm
Torque: 250Nm @ 2,000rpm
Transmission: Eight-speed CVT
Fuel consumption, combined: 7.0L / 100km
The schedule
December 5 - 23: Shooting competition, Al Dhafra Shooting Club
December 9 - 24: Handicrafts competition, from 4pm until 10pm, Heritage Souq
December 11 - 20: Dates competition, from 4pm
December 12 - 20: Sour milk competition
December 13: Falcon beauty competition
December 14 and 20: Saluki races
December 15: Arabian horse races, from 4pm
December 16 - 19: Falconry competition
December 18: Camel milk competition, from 7.30 - 9.30 am
December 20 and 21: Sheep beauty competition, from 10am
December 22: The best herd of 30 camels
Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
The stats and facts
1.9 million women are at risk of developing cervical cancer in the UAE
80% of people, females and males, will get human papillomavirus (HPV) once in their lifetime
Out of more than 100 types of HPV, 14 strains are cancer-causing
99.9% of cervical cancers are caused by the virus
A five-year survival rate of close to 96% can be achieved with regular screenings for cervical cancer detection
Women aged 25 to 29 should get a Pap smear every three years
Women aged 30 to 65 should do a Pap smear and HPV test every five years
Children aged 13 and above should get the HPV vaccine
TWISTERS
Director:+Lee+Isaac+Chung
Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos
Rating:+2.5/5
Director: Jon Favreau
Starring: Donald Glover, Seth Rogen, John Oliver
Rating: 2 out of 5 stars
Mica
Director: Ismael Ferroukhi
Stars: Zakaria Inan, Sabrina Ouazani
3 stars
MATCH INFO
Uefa Champions League semi-finals, first leg
Liverpool v Roma
When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome
Match info
Arsenal 0
Manchester City 2
Sterling (14'), Bernardo Silva (64')
Company Profile
Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
Other simple ideas for sushi rice dishes
Cheat’s nigiri
This is easier to make than sushi rolls. With damp hands, form the cooled rice into small tablet shapes. Place slices of fresh, raw salmon, mackerel or trout (or smoked salmon) lightly touched with wasabi, then press, wasabi side-down, onto the rice. Serve with soy sauce and pickled ginger.
Easy omurice
This fusion dish combines Asian fried rice with a western omelette. To make, fry cooked and cooled sushi rice with chopped vegetables such as carrot and onion and lashings of sweet-tangy ketchup, then wrap in a soft egg omelette.
Deconstructed sushi salad platter
This makes a great, fuss-free sharing meal. Arrange sushi rice on a platter or board, then fill the space with all your favourite sushi ingredients (edamame beans, cooked prawns or tuna, tempura veggies, pickled ginger and chilli tofu), with a dressing or dipping sauce on the side.
The Farewell
Director: Lulu Wang
Stars: Awkwafina, Zhao Shuzhen, Diana Lin, Tzi Ma
Four stars