In March, casual dining institution Jones The Grocer will celebrate 25 years in the food and beverage industry – 12 of those spent in the UAE, with the Australian chain's first franchised outlet opening in Abu Dhabi in 2009.
Celebrating the milestone amid a pandemic, and having not only survived, but also expanded in one of the most spoilt-for-choice and discerning (read, fickle) culinary regions, this year finds group chief executive and owner Yunib Siddiqui in a reflective mood as he – and the food industry as a whole – face relentless, rapid changes.
Increased demand for dine-out, social distancing measures in restaurants, an army of apps dedicated to food delivery, cloud kitchens and a return to home cooking ... all of these factors have put a strain on an industry that often groans under the weight of oversaturation.
Yet, despite the challenges, Siddiqui, 51, remains upbeat.
Admitting that the pandemic “jolted us”, he says the effects of Covid-19 pushed the brand into diversifying faster than planned. “We pivoted from a bricks-and-mortar business to diversified business, which was always what we knew we could do, but it took the pandemic to jolt us on to that track.”
With plans for 25 new Jones The Grocer stores, Siddiqui shares his menu hits and misses, offers advice for young and hungry (pun intended) F&B entrepreneurs, and reveals why he always orders chicken when dining out.
The secret to lasting 25 years is...
To be true to our vision of being passionate and focused.
The effect the pandemic has had on us is...
A bit like a defibrillator. It set us on a path to optimising our business and to reveal the real potential in our multiple revenue streams. Cheese, grocery and delicatessen sales went through the roof, for example.
Guiding an F&B business through the pandemic has taught me...
To be nimble and eliminate bureaucracy because it slows things down.
Our most successful dish has been...
The Jones Wagyu Burger, of course!
Our least successful dish has been...
A tuna and lemon risoni, which I loved, but, sometimes, what you love never sells.
The one thing I'd go back and tell myself when starting the business is...
Hire more people. We weren’t prepared for the hectic years that followed.
The customer is always...
Right, but only on the face of it. Social channels give everyone a voice, even those who don’t deserve one.
The advice I’d give to up-and-coming F&B entrepreneurs is...
Get the business plan right until you know it by heart. It’s not as easy as it might look.
The biggest change I've seen in the F&B industry in the UAE over the years is...
The supply, or shall I say the oversupply, of F&B and the glut of delivery apps. All ripe for consolidation.
As a business owner, my three main responsibilities are...
To live in accordance with our mission, vision and values; to innovate and improve our processes for the benefit of our franchised and company-owned stores; and, this may sound a little obvious, but in these uncertain times to preserve cash and ensure we have enough of it to meet our obligation to every stakeholder.
One of Jones The Grocers' best moments was...
Winning every food award there was to win in our first five years.
The thing I always order on the menu is...
My real test is chicken. It’s kind of hard to get chicken right unless you douse it in something or fry it. So, at the best restaurants, I’ll gravitate towards chicken to see if they’ve figured it out.
When it comes to expanding the brand, I've learnt that...
Attention to detail, hard work and patience are the most critical components.
The worst thing that ever happened to the business was...
A significant hiatus in our growth plans six years ago due to a number of legal matters which were beyond our immediate control.
The main challenges facing the F&B industry moving forward is...
How to stand out in the glut, and the onslaught of digital dining options.
One of my biggest business mistakes was...
Trusting someone I should not have.
The success I'm most proud of is...
Being regarded as someone who set the benchmark for casual dining in the UAE way back in 2009.
The dish I cook best is...
Anything I can throw in the oven. I love one-dish cooking. And anything on the barbecue.
My 2021 plans for Jones The Grocer include...
Slow and steady growth, as well as investment in technology to drive our revenue channels.
My business motto is...
Revenue is vanity, profit is sanity.
My life motto is...
Whatever you do, do it the best you can. No half measures.
We will celebrate 25 years in the business by...
Lots of little celebrations through the year, beginning with the launch of a cheese subscription, our very own Jones Cheese Culture Club that delivers exclusive artisan and seasonal cheese to cheese lovers across the UAE.
We have succeeded where others have failed because...
We never compromised on what we set out to do: to be a gourmet grocer, a cheese room and a cafe.
My relationship with failure is...
It happens, there's not much you can do and it always seems worse at the time than it would be down the line.
If I know one thing in life, it's that...
Everything passes and you need to enjoy the moment before it is gone.
Smart words at Make Smart Cool
Make Smart Cool is not your usual festival. Dubbed “edutainment” by organisers Najahi Events, Make Smart Cool aims to inspire its youthful target audience through a mix of interactive presentation by social media influencers and a concert finale featuring Example with DJ Wire. Here are some of the speakers sharing their inspiration and experiences on the night.
Prince Ea
With his social media videos accumulating more half a billion views, the American motivational speaker is hot on the college circuit in the US, with talks that focus on the many ways to generate passion and motivation when it comes to learning.
Khalid Al Ameri
The Emirati columnist and presenter is much loved by local youth, with writings and presentations about education, entrepreneurship and family balance. His lectures on career and personal development are sought after by the education and business sector.
Ben Ouattara
Born to an Ivorian father and German mother, the Dubai-based fitness instructor and motivational speaker is all about conquering fears and insecurities. His talk focuses on the need to gain emotional and physical fitness when facing life’s challenges. As well managing his film production company, Ouattara is one of the official ambassadors of Dubai Expo2020.
ETFs explained
Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.
ETFs have zero upfront fees and annual charges as low as 0.07 per cent a year, which means you get to keep more of your returns, as actively managed funds can charge as much as 1.5 per cent a year.
There are thousands to choose from, with the five biggest providers BlackRock’s iShares range, Vanguard, State Street Global Advisors SPDR ETFs, Deutsche Bank AWM X-trackers and Invesco PowerShares.
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Credit Score explained
What is a credit score?
In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.
Why is it important?
Financial institutions will use it to decide whether or not you are a credit risk. Those with better scores may also receive preferential interest rates or terms on products such as loans, credit cards and mortgages.
How is it calculated?
The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.
How can I improve my score?
By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.
How do I know if my score is low or high?
By checking it. Visit one of AECB’s Customer Happiness Centres with an original and valid Emirates ID, passport copy and valid email address. Liv. customers can also access the score directly from the banking app.
How much does it cost?
A credit report costs Dh100 while a report with the score included costs Dh150. Those only wanting the credit score pay Dh60. VAT is payable on top.
FIGHT%20CARD
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INDIA%20SQUAD
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The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
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
Profile box
Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)
