When the former owners of Dubai Fashion Week sold the rights to the event and suspended most of its operations in June, no one seemed very surprised. For seasons the fashion week had been struggling to be taken seriously, and however much its press releases claimed that it was up there among the big four (Paris, Milan, New York and London fashion weeks), it lacked credibility even at home.
To be fair to Dubai, other fashion events had achieved little more. Abu Dhabi's fashion week was impressive but short-lived, the Fashion Expo Arabia 2009 was a strong effort but has failed to appear again so far (though its website insists an event will happen this month).
And no one, visiting last year's glamorous but empty Who's Next & Premiere Classe, would have been shocked if the Paris-based trade show, too, had disappeared into the sunset. But it didn't: it came back last week, with a new venue, the Madinat Jumeirah, some new exhibitors and a new format that included a shopping day at which non-trade visitors could buy much-coveted samples direct from the designers.
In other words, it seems that some businesses do still have faith in Dubai's nascent fashion scene, albeit as a long-term project rather than a way of making a quick buck. And those businesses are serious, established fashion players who know the trade inside out.
Tagging along with the Who's Next team, for example, was the hugely successful British trade show Pure, as well as the global fashion forecasters WGSN, who were running seminars, and have been keeping an eye on Dubai for some time (they also went to Fashion Expo Arabia and have visited Dubai Fashion Week in the past). As for locally based enterprises, the always innovative UAE boutique S*uce has launched a distribution agency promoting and supporting local designers, the first in the UAE. And, most significantly, someone has bought Dubai Fashion Week, which kicks off at its new venue, Atlantis, today. The new owners, Capital Marketing, face an uphill struggle if they want to rehabilitate the event, but Manoj Bhojwani, the chairman, is keen to manage the public's expectations. "Let's take stock of the situation. Let's be realistic: going forward I would give it five to six seasons to be recognised by the big four. So let's say six seasons down I expect the brand to be taken seriously." Bhojwani is also willing to admit that, having bought the fashion week only a few months ago, this season's may not be quite up to scratch, even if the venue and production are better.
Dubai has also proven a learning experience for Boris Provost, the show manager for Who's Next & Premiere Classe. "The lesson we learned is that we have to adapt our event for each market," he said at the event last week. "Last year we took our French event and we put the same selection as we do in Paris - we did exactly the Parisian event. So this year we adapted the event, linked it to the taste of the market. We have the catwalk shows, every evening at 8pm we have parties to make people socialise, and we opened an office six months ago to call buyers and liaise with them. We sent so much information, we did big social networking. We found everybody here is looking for information from the net."
As for the designers showing here, Provost cites 35 that are returning after last year, saying, "People who came back did so because they believe in the company and they believe in the country. Some said we will see the second edition how it work, we will see the feedback, and then we will come back for the third."
For Pure, whose cool young British designers all have a turnover of less than GBP5million, the opportunity to take advantage of the Parisian trade show's experience is invaluable.
"We've always had aspirations to do something with Pure in the Middle East," says the managing director Steve Newbold. "If we're honest we hadn't quite got to the stage of deciding what that will be. Will it be a roadshow, or a party, is it catwalks, is it an exhibition? And we thought, ok, why don't we collaborate, with the same principle as Who's Next - let's test, let's probe. We're all investing in it, and actually it should be a good and prosperous market for everybody and it will evolve and change. The question is how long will it take to actually establish a market?"
Meanwhile, out at the Meydan Hotel, another trade show has been taking place. Fashion Times Dubai was launched by Tariq Shan, one of the founders of the cutting-edge Paris trade show Zip Zone, and had brought over one big name in particular, Bora Aksu, a friend of Shan's. Here, too, the talk was of testing the waters. "I have absolutely no experience in Dubai," admitted Shan last week, with a wry laugh. "I walked into Bloomingdale's today asking for the buyer and there are so many hurdles to get through. But I'm sure it's going to be very interesting."
That might seem perilously blasé, but like the Who's Next, Pure and WGSN teams, Shan believes it's one worth taking. "You know, there is a risk, but it's calculated and we think now's the right time. Of course I don't expect it to take off straight away. We're going to have to be marketed in the right way and we want the message to get across that we're here to stay. We'll see how it goes."
That's a very different approach from, say, that of Pure, who are working with facts that Who's Next learned the hard way last year. "I think by their own admission what they learned from that was you can't just rock in, put on a big exhibition and expect it to work in the same way as Paris," says Newbold.
Of course, the big difference between the likes of Who's Next & Premiere Classe and Dubai Fashion Week is that the fashion week is supposed to be promoting local designers, while the trade shows are bringing international labels to the buyers of the region. But with only five or six Emirati designers showing at fashion week, and the "client servicing" liaison between buyers and designers only being implemented next season, according to Bhojwani, there is a clear gap that Two Scoops, the distribution agency established by S*uce, is aiming to fill.
"We started working with local designers from day one at S*uce," says its co-founder Zayan Ghandour, "and our first designer, Essa, is now a very big star. S*uce was in the right time and the right place with the right designers. But now it comes to a time when people have much more choice, people have maybe less money or a projection of less money in the future and they are a lot more selective, so that fact means one needs the choices to be more edited, better quality, on trend and delivered on time."
In encouraging this move towards a genuine professionalism among local designers, S*uce may have once more found themselves in the right time and place: as Ghandour says, the Arab customer is at the top of every high-end retailer's wanted list. "They still have that spending power," she says. "And it even translates in our stores in terms of trends. Currently the trend is very simple, very minimal, but Arab customers are still not looking for that. The money's still coming from the Gulf customer, and the Gulf customer is looking for colour, she's looking for details and she wants that unique piece. I think the retailers in the region and everywhere else will find that this is what they are looking for."
It seems, then, that the impetus of these sort of enterprises may eventually achieve what Dubai Fashion Week has failed so far to do: creating a genuine Middle East fashion hub in Dubai. Which makes you wonder: do we really need Dubai Fashion Week?
Lorna Hall, senior retail editor at WGSN, asked just that question at Who's Next.
"I always think people are very harsh on fashion weeks, because it's all comparative. Everyone always says they want to be the next Paris or Milan or whatever; they almost have to say it in marketing terms. But we all know that there isn't actually room for that anyway, and what you need to do is build a really credible region that makes sense, so people who come in from outside can really understand the market and people from inside the market can get a much better sense of where they are placed in the world.
Hall travels the world examining the retail and fashion markets and analysing them for what is one of the fashion industry's most respected tools, and she points out that spreading out events over several weeks (as we do in Dubai) can be a mistake.
"When you go around and look at fashion events, what slightly frustrates everyone is that slight disconnect between the various fashion organisations, and the ones that get it right are the ones that manage to work together and see it as a common purpose, and build slowly and understand what's right for the region rather than replicating something that just doesn't work for the region."
Few people would disagree. Provost points out that this year and last he tried to establish a link with Dubai Fashion Week, to no avail. "I'm not a competitor," he insists. "But the more we are, the stronger we are." Ghandour, meanwhile, straddles the two events, launching Two Scoops at Who's Next and sitting as an advisory board member on Dubai Fashion Week. She says: "I have been saying it over and over again. You see, Who's Next is a very professional set-up and this we haven't seen in Dubai for the past goodness knows how long, so it is a great opportunity for Dubai Fashion Week to tie up with someone who's been doing it for a long time. Imagine, if it comes under the fashion week label what that means. They have a huge database, it's a great platform for local designers eventually to go to Paris. It only serves everyone in this industry that they tie up."
Even Bhojwani is cautiously optimistic. "If we find synergies, if we find we have common objectives, why not? There's always a possibility. But at this point in time I don't think we are going to look at any associations. We have our plans already laid out."
That may not sound like a ringing endorsement, but the fact that these discussions are even taking place offers a real glimmer of hope for Dubai's fashion future.
"You do need to be working with companies that actually have a common philosophy," says Newbold, a canny businessman as much as a fashion player. "Obviously we believe that in the long run it will pay off. It has to be more than a wild speculative punt."
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
JOKE'S%20ON%20YOU
%3Cp%3EGoogle%20wasn't%20new%20to%20busting%20out%20April%20Fool's%20jokes%3A%20before%20the%20Gmail%20%22prank%22%2C%20it%20tricked%20users%20with%20%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Fmentalplex%2F%22%20target%3D%22_blank%22%3Emind-reading%20MentalPlex%20responses%3C%2Fa%3E%20and%20said%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Fpigeonrank%2F%22%20target%3D%22_blank%22%3E%20well-fed%20pigeons%20were%20running%20its%20search%20engine%20operations%3C%2Fa%3E%20.%3C%2Fp%3E%0A%3Cp%3EIn%20subsequent%20years%2C%20they%20announced%20home%20internet%20services%20through%20your%20toilet%20with%20its%20%22%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Ftisp%2Finstall.html%22%20target%3D%22_blank%22%3Epatented%20GFlush%20system%3C%2Fa%3E%22%2C%20made%20us%20believe%20the%20Moon's%20surface%20was%20made%20of%20cheese%20and%20unveiled%20a%20dating%20service%20in%20which%20they%20called%20founders%20Sergey%20Brin%20and%20Larry%20Page%20%22%3Ca%20href%3D%22https%3A%2F%2Farchive.google%2Fromance%2Fpress.html%22%20target%3D%22_blank%22%3EStanford%20PhD%20wannabes%3C%2Fa%3E%20%22.%3C%2Fp%3E%0A%3Cp%3EBut%20Gmail%20was%20all%20too%20real%2C%20purportedly%20inspired%20by%20one%20%E2%80%93%20a%20single%20%E2%80%93%20Google%20user%20complaining%20about%20the%20%22poor%20quality%20of%20existing%20email%20services%22%20and%20born%20%22%3Ca%20href%3D%22https%3A%2F%2Fgooglepress.blogspot.com%2F2004%2F04%2Fgoogle-gets-message-launches-gmail.html%22%20target%3D%22_blank%22%3Emillions%20of%20M%26amp%3BMs%20later%3C%2Fa%3E%22.%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Eco%20Way%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20December%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Ivan%20Kroshnyi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Electric%20vehicles%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Bootstrapped%20with%20undisclosed%20funding.%20Looking%20to%20raise%20funds%20from%20outside%3Cbr%3E%3C%2Fp%3E%0A
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.”
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
Squad for first two ODIs
Kohli (c), Rohit, Dhawan, Rayudu, Pandey, Dhoni (wk), Pant, Jadeja, Chahal, Kuldeep, Khaleel, Shami, Thakur, Rahul.
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Diriyah%20project%20at%20a%20glance
%3Cp%3E-%20Diriyah%E2%80%99s%201.9km%20King%20Salman%20Boulevard%2C%20a%20Parisian%20Champs-Elysees-inspired%20avenue%2C%20is%20scheduled%20for%20completion%20in%202028%3Cbr%3E-%20The%20Royal%20Diriyah%20Opera%20House%20is%20expected%20to%20be%20completed%20in%20four%20years%3Cbr%3E-%20Diriyah%E2%80%99s%20first%20of%2042%20hotels%2C%20the%20Bab%20Samhan%20hotel%2C%20will%20open%20in%20the%20first%20quarter%20of%202024%3Cbr%3E-%20On%20completion%20in%202030%2C%20the%20Diriyah%20project%20is%20forecast%20to%20accommodate%20more%20than%20100%2C000%20people%3Cbr%3E-%20The%20%2463.2%20billion%20Diriyah%20project%20will%20contribute%20%247.2%20billion%20to%20the%20kingdom%E2%80%99s%20GDP%3Cbr%3E-%20It%20will%20create%20more%20than%20178%2C000%20jobs%20and%20aims%20to%20attract%20more%20than%2050%20million%20visits%20a%20year%3Cbr%3E-%20About%202%2C000%20people%20work%20for%20the%20Diriyah%20Company%2C%20with%20more%20than%2086%20per%20cent%20being%20Saudi%20citizens%3Cbr%3E%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
MANDOOB
%3Cp%3EDirector%3A%20Ali%20Kalthami%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Mohammed%20Dokhei%2C%20Sarah%20Taibah%2C%20Hajar%20Alshammari%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A%3Cp%3E%3C%2Fp%3E%0A
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
Two products to make at home
Toilet cleaner
1 cup baking soda
1 cup castile soap
10-20 drops of lemon essential oil (or another oil of your choice)
Method:
1. Mix the baking soda and castile soap until you get a nice consistency.
2. Add the essential oil to the mix.
Air Freshener
100ml water
5 drops of the essential oil of your choice (note: lavender is a nice one for this)
Method:
1. Add water and oil to spray bottle to store.
2. Shake well before use.
UAE SQUAD
Ahmed Raza (Captain), Rohan Mustafa, Jonathan Figy, CP Rizwan, Junaid Siddique, Mohammad Usman, Basil Hameed, Zawar Farid, Vriitya Aravind (WK), Waheed Ahmed, Karthik Meiyappan, Zahoor Khan, Darius D'Silva, Chirag Suri
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
THE SPECS
Engine: 3.5-litre supercharged V6
Power: 416hp at 7,000rpm
Torque: 410Nm at 3,500rpm
Transmission: 6-speed manual
Fuel consumption: 10.2 l/100km
Price: Dh375,000
On sale: now
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Star%20Wars%3A%20Episode%20I%20%E2%80%93%20The%20Phantom%20Menace
%3Cp%3E%3Cstrong%3EDeveloper%3A%3C%2Fstrong%3E%20Big%20Ape%20Productions%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20LucasArts%3Cbr%3E%3Cstrong%3EConsoles%3A%3C%2Fstrong%3E%20PC%2C%20PlayStation%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
More from Rashmee Roshan Lall
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Apple%20Mac%20through%20the%20years
%3Cp%3E1984%20-%20Apple%20unveiled%20the%20Macintosh%20on%20January%2024%3Cbr%3E1985%20-%20Steve%20Jobs%20departed%20from%20Apple%20and%20established%20NeXT%3Cbr%3E1986%20-%20Apple%20introduced%20the%20Macintosh%20Plus%2C%20featuring%20enhanced%20memory%3Cbr%3E1987%20-%20Apple%20launched%20the%20Macintosh%20II%2C%20equipped%20with%20colour%20capabilities%3Cbr%3E1989%20-%20The%20widely%20acclaimed%20Macintosh%20SE%2F30%20made%20its%20debut%3Cbr%3E1994%20-%20Apple%20presented%20the%20Power%20Macintosh%3Cbr%3E1996%20-%20The%20Macintosh%20System%20Software%20OS%20underwent%20a%20rebranding%20as%20Mac%20OS%3Cbr%3E2001%20-%20Apple%20introduced%20Mac%20OS%20X%2C%20marrying%20Unix%20stability%20with%20a%20user-friendly%20interface%3Cbr%3E2006%20-%20Apple%20adopted%20Intel%20processors%20in%20MacBook%20Pro%20laptops%3Cbr%3E2008%20-%20Apple%20introduced%20the%20MacBook%20Air%2C%20a%20lightweight%20laptop%3Cbr%3E2012%20-%20Apple%20launched%20the%20MacBook%20Pro%20with%20a%20retina%20display%3Cbr%3E2016%20-%20The%20Mac%20operating%20system%20underwent%20rebranding%20as%20macOS%3Cbr%3E2020%20-%20Apple%20introduced%20the%20M1%20chip%20for%20Macs%2C%20combining%20high%20performance%20and%20energy%20efficiency%3Cbr%3E2022%20-%20The%20M2%20chip%20was%20announced%3Cbr%3E2023%20-The%20M3%20line-up%20of%20chip%20was%20announced%20to%20improve%20performance%20and%20add%20new%20capabilities%20for%20Mac.%3C%2Fp%3E%0A
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
AS IT STANDS IN POOL A
1. Japan - Played 3, Won 3, Points 14
2. Ireland - Played 3, Won 2, Lost 1, Points 11
3. Scotland - Played 2, Won 1, Lost 1, Points 5
Remaining fixtures
Scotland v Russia – Wednesday, 11.15am
Ireland v Samoa – Saturday, 2.45pm
Japan v Scotland – Sunday, 2.45pm
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
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The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
COMPANY%20PROFILE%20
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Company%20profile
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What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
SPIDER-MAN%3A%20ACROSS%20THE%20SPIDER-VERSE
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COMPANY%20PROFILE
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THE BIO: Mohammed Ashiq Ali
Proudest achievement: “I came to a new country and started this shop”
Favourite TV programme: the news
Favourite place in Dubai: Al Fahidi. “They started the metro in 2009 and I didn’t take it yet.”
Family: six sons in Dubai and a daughter in Faisalabad
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Company%20Profile
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FROM%20THE%20ASHES
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What is tokenisation?
Tokenisation refers to the issuance of a blockchain token, which represents a virtually tradable real, tangible asset. A tokenised asset is easily transferable, offers good liquidity, returns and is easily traded on the secondary markets.
MATCH INFO
AC Milan v Inter, Sunday, 6pm (UAE), match live on BeIN Sports
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
BMW%20M4%20Competition
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Sustainable Development Goals
1. End poverty in all its forms everywhere
2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture
3. Ensure healthy lives and promote well-being for all at all ages
4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
5. Achieve gender equality and empower all women and girls
6. Ensure availability and sustainable management of water and sanitation for all
7. Ensure access to affordable, reliable, sustainable and modern energy for all
8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation
10. Reduce inequality within and among countries
11. Make cities and human settlements inclusive, safe, resilient and sustainable
12. Ensure sustainable consumption and production patterns
13. Take urgent action to combat climate change and its effects
14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development
15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss
16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
17. Strengthen the means of implementation and revitalise the global partnership for sustainable development
COMPANY%20PROFILE
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RACE CARD
6.30pm Al Maktoum Challenge Round-1 Group 1 (PA) Dh119,373 (Dirt) 1,600m
7.05pm Handicap (TB) Dh102,500 (D) 1,200m
7.40pm Handicap (TB) Dh105,000 (Turf) 1,800m
8.15pm UAE 1000 Guineas Trial (TB) Dh183,650 (D) 1,400m
9.50pm Handicap (TB) Dh105,000 (D) 1,600m
9.25pm Handicap (TB) Dh95,000 (T) 1,000m
The%20Super%20Mario%20Bros%20Movie
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Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.