Abdallah bin Eisa al-Serkal, director of the Sheikh Mohammed Center for Cultural Understanding, discusses Islam with non-Muslims at Dubai's Jumeirah Mosque.
Abdallah bin Eisa al-Serkal, director of the Sheikh Mohammed Center for Cultural Understanding, discusses Islam with non-Muslims at Dubai's Jumeirah Mosque.
Abdallah bin Eisa al-Serkal, director of the Sheikh Mohammed Center for Cultural Understanding, discusses Islam with non-Muslims at Dubai's Jumeirah Mosque.
Abdallah bin Eisa al-Serkal, director of the Sheikh Mohammed Center for Cultural Understanding, discusses Islam with non-Muslims at Dubai's Jumeirah Mosque.

'Culture classes' a boost for business


  • English
  • Arabic

Wrecking a potentially lucrative deal with a misjudged handshake is just one of many pitfalls facing the unwary western businessman or woman in the UAE - even without a global slowdown to make etiquette errors more expensive. As a result, westerners are increasingly signing up for Arabic business courses to maximise their chances of wooing clients in the UAE. The idea of teaching Arabic culture to westerners is not new, but in the present tough trading environment, companies are keen to make every effort to impress potential investors. Soaring business activity between the UAE and the West in recent years has seen the establishment of several companies offering "culture courses" designed to arm newly-arrived executives with an understanding of Emirati culture and a checklist of dos and don'ts to ensure that their deals run smoothly. Revealing clothing, stumbles over names and offering handshakes to the wrong people or in the wrong order can all sabotage an otherwise faultless first impression, according to Communicaid, one of the world's largest culture course providers. "In the past, a lot of business people made a lot of mistakes and it has meant the difference between contracts being won or lost," said Donna Marsh, a tutor in Arabic culture with Communicaid. "Companies have learnt their lesson and don't want to repeat the mistakes of the past, certainly not in the current economic climate." The company runs a programme called "Doing Business in the UAE", which provides an overview of the importance of Islam, family and hospitality in the structure of Emirati society, as well as modules on working practices. "The purpose of the course is to provide a smooth transition for Western business people who are going to be working in the UAE," said Cora Malinak, a culture and communications adviser at Communicaid. "We aim to help people understand the different attitudes and values of people in the Middle East. "We give a rundown on the politics and economy of the country and the impact of Islam on society. "Business can be conducted in very different ways in the West and the Arab world. There can be a huge amount of misunderstanding, simply through a lack of knowledge. "That is where we come in. "A deal can easily fall through because someone simply misunderstands basic Arabic meeting etiquette, such as a man trying to shake the hand of an Arabic businesswoman." Ms Marsh added: "Successful business in the UAE relies on good relationships. The key to building strong relationships is integrity. "Arabs prize trust very highly in business dealings. Westerners will often have to spend a great deal of time establishing trust with Arab business counterparts, but once that level of trust is there, business can move forward pretty fast." In Dubai, the Sheikh Mohammed Centre for Cultural Understanding also operates awareness courses to help new arrivals to acclimatise. The centre aims to "bring down barriers between people of different nationalities, and to help understand the traditions, customs and religion of the UAE". Participants are taught everything from UAE history and the role of Islam and family to the difference between Arabic and western negotiation strategies. According to Communicaid, Emirati companies often follow a more traditional "top-down" business model, with one powerful person making all the key decisions. The company added that UAE executives preferred to do business with people they knew, so a personal recommendation could prove invaluable, and face-to-face discussion was always preferred to telephone calls. Minesh Patel, 27, a lawyer from London who moved to the UAE six months ago, took part in a cultural awareness programme arranged by his firm, Allen & Overy LLP. "It was really helpful in terms of understanding the working practices and cultural differences," he said. "The part dealing with etiquette in business meetings was the most useful bit." Henry Bremridge, 28, a banking executive originally from Winchester and who is now based in Dubai, completed an online cultural awareness course before leaving Britain. "There are some significant cultural differences between the way things are done in the UK and here," he said. "I thought the course was a really good idea and particularly valuable for people who are interacting a lot with UAE business people and clients. "If you are going to spend a lot of time meeting Emirati clients it is extremely important. "Relationship building is a key element of doing business here and it is particularly important in the current economic climate." Another lawyer from London, Georgina Smee, 27, who also works in Dubai, said the course had helped her conduct business in the UAE. "If you are told in advance that people will answer their phones in the middle of a business meeting and it is not meant to be rude, it stops any misunderstanding." chamilton@thenational.ae

UAE currency: the story behind the money in your pockets
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Silent Hill f

Publisher: Konami

Platforms: PlayStation 5, Xbox Series X/S, PC

Rating: 4.5/5

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

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

ONCE UPON A TIME IN GAZA

Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi

Directors: Tarzan and Arab Nasser

Rating: 4.5/5

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

Company%20Profile
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States of Passion by Nihad Sirees,
Pushkin Press

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Ads on social media can 'normalise' drugs

A UK report on youth social media habits commissioned by advocacy group Volteface found a quarter of young people were exposed to illegal drug dealers on social media.

The poll of 2,006 people aged 16-24 assessed their exposure to drug dealers online in a nationally representative survey.

Of those admitting to seeing drugs for sale online, 56 per cent saw them advertised on Snapchat, 55 per cent on Instagram and 47 per cent on Facebook.

Cannabis was the drug most pushed by online dealers, with 63 per cent of survey respondents claiming to have seen adverts on social media for the drug, followed by cocaine (26 per cent) and MDMA/ecstasy, with 24 per cent of people.

Greatest Royal Rumble results

John Cena pinned Triple H in a singles match

Cedric Alexander retained the WWE Cruiserweight title against Kalisto

Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus

Jeff Hardy retained the United States title against Jinder Mahal

Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos

Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe

AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out

The Undertaker beats Rusev in a casket match

Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match

Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last

Normcore explained

Something of a fashion anomaly, normcore is essentially a celebration of the unremarkable. The term was first popularised by an article in New York magazine in 2014 and has been dubbed “ugly”, “bland’ and "anti-style" by fashion writers. It’s hallmarks are comfort, a lack of pretentiousness and neutrality – it is a trend for those who would rather not stand out from the crowd. For the most part, the style is unisex, favouring loose silhouettes, thrift-shop threads, baseball caps and boyish trainers. It is important to note that normcore is not synonymous with cheapness or low quality; there are high-fashion brands, including Parisian label Vetements, that specialise in this style. Embraced by fashion-forward street-style stars around the globe, it’s uptake in the UAE has been relatively slow.

Stree

Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
Cast: Rajkummar Rao, Shraddha Kapoor, Pankaj Tripathi, Aparshakti Khurana, Abhishek Banerjee
Rating: 3.5

Who was Alfred Nobel?

The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.

  • In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
  • Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
  • Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
SPECS
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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.”