RAK Business June 2018 (English) (Issue 3) by New Generation Media

‫مجلــة أعمــال رأس اخليمــة‬

PUBLISHED BY RAK DED

ISSUE (3) MAY-JUNE 2018

ALGHAD LICENSE STARTING BUSINESS FROM HOME RAK PROPERTIES UNDERPINS THE CONCEPT OF REAL ESTATE INVESTMENT HOTEL

THE ADDRESS EMAAR’S FIRST EXPANSION IN RAS AL KHAIMAH

BEST BOOKS FOR BUSINESMEN

RAK SKSH

NO NEED TO TRAVEL ABROAD FOR MEDICAL TREATMENT

IBRAHIM ALHOSANI A SPECIAL MODEL IN LEGAL ARENA

HOW TO CONTROL YOUR THOUGHTS AND MINDSET JEROME CARLE

JULPHAR...

TASAHEEL

15 MINS. LICENSE REGISTRATION

A PROMINENT PLAYER IN GLOBAL PHARMACEUTICAL MARKETS

EDITORIAL

SUPERVISION

SH. Mohamed bin Kayed Al Qasimi EDITOR IN CHIEF Dr. Abdulrahman Alshayeb AlNaqbi Managing Editor Aisha Obaid Alayyan Editors Dr. Abdel Halim Moheisen Maryam Haji Mohammed

EDITING & DESIGN

Khawla Ibrahim Zina Abboud Zainab Shieha Hafsa Hafeez Maher SafyeldiN

Contacts and Advertising

050 899 5669

+971 7 222 9995 info@ngmedia.ae

RAK DED INCENTIVES TO BOOST BUSINESS The instructions of His Highness Sheikh Saud bin Saqr Al Qasimi, Member of the Supreme Council of the Union and Ruler of Ras Al Khaimah, to all local government departments, to provide the best services to support and develop the economic performance in the Emirate, prompted Ras Al Khaimah Department of Economic Development, to initiate a series of new regulatory decisions, including the application of a variety of incentives. The objective of the package is to develop and stimulate the business environment, commensurate with the actual needs and aspirations of the business community in the emirate; they also aim at revitalizing and sustaining economic and commercial activities in the emirate. The incentives included the extension of the grace period for the renewal of the expired licenses, from 30 to 90 days, giving additional time for the license holders to adjust their status and renew their licenses within a suitable period of time, without any additional procedural, legal or financial burden. The incentives also included allowing more than one license (maximum 3 licenses) to be opened in one or site or location, for activities which practically require an office; such as professional, consulting, programming, computer and other similar activities. The new incentives, allowed licenses to be issued to branches of companies licensed outside the emirate, without the need to provide an office at the first year. This includes all types of wholesale trade activities (except food stuffs trading). Professional activities that do not require an office to conduct their activities, are also allowed. These procedures constitute important inducement to do business in the emirate, as they will reduce the burden of the cost of doing business, and encourage the establishment of more companies in the mentioned activities, to enhance the economy of the emirate. The incentives package, cancelled the permit required for shops and commercial establishments to extend working hours until 2 am. This was replaced with a permit to work 24 hours for the establishments that wish to do so. This will encourage such establishments to meet the needs of their customers throughout the day, and open up for them new horizons, to increase their revenues and sales. The stimulus package included the cancellation of the prior inspection of the sites, required for licensing certain economic activities that will operate in certain locations in the emirate, such as locations in major shopping malls, traditional markets, office buildings, and other known sites, for which the required information about the type and location of the property is available and already known. The developed licensing system, applied in the Department of Economic Development known as the “Derb” locates and defines the coordinates of economic establishments, with pictures of the facades of buildings, to determine their status and their conformity with the terms of use in economic activities. The main purpose of this step taken be the Department, was to reduce the number of procedures and time for business licensing, and comply with the World Bank ease of doing business standards. Eventually, this will contribute to the promotion, sustainability and attractiveness of the business climate in the emirate. Dr. Abdulrahman Alshayeb Al Naqbi Director General RAK DED

Opinions expressed in articles are the writer’s own and do not reflect the view of RAK DED Or RAKBusiness Magazine. Although every effort is made to ensure the accuracy of the information published, the publisher also disclaims any legal responsibility towards other parties.

RAS AL KHAIMAH DEPARTMENT OF ECONOMIC DEVELOPMENT VISION: Taking the lead in pursuit of high performance, to build a competitive and sustainable economy MISSION: Regulating, supporting and promoting economic activities, to boost competitiveness and spur innovation, in a comprehensive and sustainable economic development, in close cooperation with our and partners and clients, embracing transparency and mutual respect; relying on qualified national cadres and highly efficient systems and techniques.

w www.ded.rak.ae

STRATEGIC GOALS: ֺֺ F acilitating licensing and permits procedures, to enable building a balanced and diversified knowledge-based economy. ֺֺ Enhancing business monitoring and consumer protection. ֺֺ Boosting ties with partners and the community. ֺֺ Furthering and developing organizational support services; and fostering the culture of creativity and innovation. ֺֺ Excelling at provision and rendering of services; and enriching clients’ experience.

E info.ded@economic.rak.ae

Rakded_ae

RGANIZATIONAL VALUES: O ֺֺ Excellence: Keen to providing value-added services to meet the needs of the customers. ֺֺ Responsibility: Committed to perform our responsibilities toward the customers and the community. ֺֺ Respect: Treat our employees, customers and partners with immense care and mutual respect. ֺֺ Transparency: Believe in clear and explicit communication with our customers, partners, employees and suppliers. ֺֺ Collaboration: Value the partnerships and cooperative relations with our employees and the relevant authorities. ֺֺ Creativity & Innovation: Provide a creativity & innovation stimulating environment.

CONTENTS

RAK PROPERTIES UNDERPINS THE CONCEPT OF REAL ESTATE INVESTMENT

ALGHAD LICENSE... STARTING BUSINESS FROM HOME

Al Qadi: RAK Properties a regional leader in quality real estate, tourism and entertainment projects

An ambitious Initiative for business startup at low cost.

SKSH... NO NEED TO TRAVEL ABROAD FOR MEDICAL TREATMENT

JULPHAR... A PROMINENT PLAYER IN GLOBAL PHARMACEUTICAL MARKETS

Latest medical international protocols in tumors, cardiothoracic surgery and neurology treatment.

Julphar distributes pharmaceutical products to more than 50 countries across the globe

READ.

MANAGING.

AL MARJAN ISLAND... ATTRACTS LUXURY HOTEL BRANDS TO THE HOSPITALITY MARKET IN RAK

29 LEGAL CONSULTATION. 37 5 BEST BOOKS FOR BUSINESSMEN TO 45 5 HOTELS & RESORTS OFFERS IN RAK.

Legal advocacy is not only a money earning profession, but a platform for spreading knowledge, values of justice, integrity and the rule of law.

COLUMNS

37 4 APPS. FOR EFFICIENT BUSINESS

IBRAHIM AL HOSANI... A SPECIAL MODEL OF LEGAL WORK 30

A Sm Fu M ar tur 22 ben erge t Ele e Pe T rs if rs ct S t asa ts o an ron pec d i h f e c 28 ne p ee la A S tiv 34 Th ss E tow l In rge- cqui ervi e of C e n a it sc s ce R Su onc Secur viron rds Imiative ale itions s AK cce en ity m p ... DE ... D ss trat Ch ent rov An re ap ion eck in in g Imp g RA o Sk and ills le K rta Bu nt .. Th ga sie Wl liabi ay lity

Agreements for setting to launch ‘The Address Al Marjan Island’ and ‘Rove Al Marjan Island’ hotels.

CYPRUS... THE TRANQUIL SIDE OF A LUXURY BEACH An ideal destination for spending quality time.

Download the app. Experience the brand. RAK Insurance mobile app is now available for download. It oﬀers: • Easy access to your medical network • Buy a wide range of insurance products online • Exclusive customer portal • Emergency contact services • Simple and hassle-free guidelines on how to make a claim We believe that a beautiful tomorrow begins with a wiser today.

ECONOMIC PANORAMA

INCHEON NATIONAL UNIVERSITY OF SOUTH KOREA AWARDS HONORARY PHD TO THE RULER OF RAS AL KHAIMAH His Excellency Sheikh Saud Bin Saqr Al Qasimi, Member of the Supreme Council and Ruler of Ras Al Khaimah, was awarded an Honorary Doctorate in Economics in recognition of the economic growth and achievements partaken by His Highness within the Emirate. In a word to the crowd of students, faculty members and Dr. Dong-Song Cho, President of Incheon National University, His Highness the Ruler of Ras Al Khaimah said: “I am honored and filled with gratitude to receive such a degree from this prestigious university.” “As the UAE was being formed, South Korea was on the e dge of economic prosperity, and both of our countries h ave witnessed major developments over the past decades,” His Highness added. “Our beloved country is now a stabilizing force in the Arab 6 | RAKBUSINESS

world and stands as a model for others. We have utilized our oil to build prosperous cities and diversified industries; while also welcoming people from all over the world to join us in our vision to achieve a science and knowledge-based society that embraces its many cultures.” “We have succeeded in improving knowledge and education in Ras Al Khaimah through the Sheikh Saud bin Saqr Al Qasimi Foundation for Policy Research. The Foundation’s research is vital to understanding Emirati society and ensures that the society is purposefully engaged in order to confirm that they are a part of our bright future..”. Dr. Dong-Song Cho, President of Incheon National University, expressed his pride of the University’s recognition to such an inspiring leader that has dedicated his life to the development of Ras Al Khaimah.

ECONOMIC PANORAMA NEWS

PUBLIC-PRIVATE COOPERATION FORUM TO SUSTAIN DEVELOPMENT IN RAK RAK Chamber of Commerce and Industry (RAK Chamber) and the Ras Al Khaimah Department o f Economic Development (RAK DED) have joined efforts to organize a public-private cooperation forum to enhance the existing regular communication between them. The Forum additionally serves as a venue to compose a unified strategy to develop the private sector’s role and to address the challenges that limit the implementation of such a strategy. The Forum aims to achieve future development and cooperation between the sectors in various fields, including policies, economic legislation, procedures, services, government fees, the support and development of investment projects and further aspects to support the achievement of sustainable economic development. Mohammed Hassan Al Sibb, Acting Director General of RAK Chamber said: “In light of the growing keenness of the Ras Al Khaimah Government to develop the private sectors’ pivotal

role in achieving sustainable development, we seek to activate all mechanisms of cooperation between the two sectors on a permanent and continuous basis...”. On his behalf, Dr. Abdulrahman Al Naqbi, Director General of RAK DED, said: “Today, public-private cooperation has gained special importance in the Emirate and the UAE in

general in response to the economic changes and non-economic developments taking place both locally and internationally. The UAE’s fundamental economic reforms that aim to raise economic performance efficiency and competitiveness increasingly rely on the private sector to lead the economic development process and the rapid technical and technological changes.”

RAKEZ LAUNCHES ITS NEW FREELANCER PERMIT ROVE HOTELS SIGNS AGREEMENT WITH AL HAMRA FOR ROVE MANAR MALL HOTEL Rove Hotels, the contemporary midscale hotel brand, has strengthened its operations in Ras Al Khaimah, with a management agreement to operate the Rove Manar Mall, directly linked to one of the most popular retail and leisure destinations in the emirate. A joint venture between Emaar Properties and Meraas, Rove Hotels signed the agreement with Al Hamra, the developer of Manar Mall, for the 250room hotel that is designed for the value-conscious modern traveller, who demand reliable, modern and fuss-free service in a tech-driven environment. Construction work will commence this year with the hotel, situated in the heart of the city, scheduled to be operational in 2020. In addition to serving leisure tourists, who are charmed by the beaches, mangroves and other natural attractions in the emirate, Rove Manar Mall will also appeal to business guests, given the fast pace of growth in industrial and manufacturing activity in Ras Al Khaimah.

Ras Al Khaimah Economic Zone (RAKEZ), rolled out the red carpet for the United Arab Emirates’ (UAE) booming population of media and education freelancers with the introduction of its Freelancer Permit. With the Freelancer package valued at AED 8,990, RAKEZ proves to be among the leading cost-effective destinations for the nation’s bold freelancers. The package, which is targeted to media and education professionals, includes a twoyear UAE visa as well as access to a shared workstation and premium services in a one-stop shop. Joining the exciting freelance community at RAKEZ is incredibly easy, thanks to a fact-track permit issuance which allows applicants to get set up in no time. Ramy Jallad Group CEO of RAKEZ, RAK Free Trade Zone and Ras Al Khaimah Investment Authority noted that “it is easy for ‘solopreneurs’ to get lost in a sea of processes when they are setting up a freelance business.” Thus, the economic zone has made everything as easy and quick as possible for freelancers to get started. RAKBUSINESS | 7

ECONOMIC PANORAMA NEWS

BUILDING ON A LEGACY: INTRODUCING THE ZAYED SUSTAINABILITY PRIZE The Zayed Future Energy Prize will today become the Zayed Sustainability Prize as part of a strategic move to refocus its mandate. After ten years of successfully promoting renewable energy initiatives across the globe, the Prize will now broaden its focus to affect greater humanitarian impact by supporting a wider range of solutions to the challenges of sustainable development. Commenting on the Prize’s transformation, His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Director General of the Zayed Sustainability Prize, said: “Inspired by the vision and legacy of our founding father, Sheikh Zayed bin Sultan Al Nahyan, the Zayed Future Energy Prize has, for the last decade, been able to positively impact 307 million lives through empowering access to energy, clean water, education, training, advocacy and more. “In a move to align more closely with the UN Sustainable Development Goals and the UAE’s developing national agenda, going forward the Prize will broaden its reach beyond renewable energy, and reward projects and innovative solutions from a wider spectrum of sustainability and human development initiatives. In addition the Prize will expand its support of young people through the Global High Schools category, which will now reward youth-driven projects from a greater number of world regions.” Based on its renewed mission, the Prize now has five distinct categories for applicants to choose from: Health, Food, Energy, Water and Global High Schools. These pillars are interconnected and represent8 | RAKBUSINESS

ZAYED FUTURE ENERGY PRIZE MORE THAN

1000000

PERSONS EFFECIENTLY USING ENERGY

7100000

HAVE ACCESS TO DRINKING WATER AT REASONABLE PRICES

17000000

PUPILS USE SOLAR ENERGY FOR STUDYING

25000000

HAVE MODERN ENERGY SOURCES IN ASIA AND AFRICA

ative of basic needs essential to human survival where innovations will yield progress in sustainable development. Dr. Lamya Fawwaz, Director of the Zayed Sustainability Prize, said: “The new categories were carefully selected to reflect the most pressing sustainability challenges and offer the greatest socio-economic impact on the lives of people around the world.” “The Zayed Sustainability Prize will also look to inspire today’s youth to be forward-thinkers and cultivate within them a vested interest in becoming agents of change for sustainable development – after all, youth of today are leaders of tomorrow. Beyond that, we look to recognise existing innovations and amplify their reach so that they may benefit more people and bring us closer to helping solve some of humanity’s biggest challenges,” Dr. Lamya added. The Zayed Sustainability Prize will see a three-stage evaluation process, beginning with the due diligence that is conducted by a reputed international research and analysis consultancy. Following this, the

shortlisted entries will undergo evaluations by a Selection Committee to determine the finalists. From these finalists, a Jury will select the winners in all five categories, including the winning schools from six world regions. The deliberations on who wins the Zayed Sustainability Prize are set against three core criteria where entrants must demonstrate: • Impact: Significant and tangible outcomes on the quality of people’s lives • Innovation: Distinctive characteristics to change the “status quo” and potential to catalyse opportunities that will have a disruptive positive impact and transformative change • Inspiration: The potential to scale up project outcomes in the next decade and the ability to inspire others Winners of the Zayed Sustainability Prize will be announced at the awards ceremony during the opening of the Abu Dhabi Sustainability Week, on 14th January 2019. The Zayed Sustainability Prize will close on 9th August 2018. More information can be obtained at www.zayedsustainabilityprize.com.

GERMAN FAUCETS MADE IN UAE

ECONOMIC PANORAMA SPOTLIGHT

MOHAMMED SULTAN AL QADI...

RAK Properties Underpins The Concept of Real Estate Investment By: Khawla Ibrahim

THE FOUNDING OF “RAK PROPERTIES” IN 2005, UNDER THE GUIDANCE OF HIS HIGHNESS SHEIKH SAUD BIN SAQR AL QASSIMI, MEMBER OF THE SUPREME COUNCIL AND RULER OF RAS AL KHAIMAH, WAS A CRUCIAL JUNCTURE AND A LANDMARK IN THE RAK REAL ESTATE ARENA; AS IT ADDED QUALITY AND LIVELINESS TO REAL ESTATE, TOURISM AND LEISURE FACILITIES IN THE REGION. THE COMPANY HAS BEEN ABLE TO ACHIEVE THE HIGHEST VALUE FOR ITS SHAREHOLDERS, THROUGH THE DEVELOPMENT OF SEVERAL PIONEERING PROJECTS, PROVIDING INVESTMENT OPPORTUNITIES FOR INDIVIDUALS OF DIFFERENT NATIONALITIES TOGETHER WITH THE POSSIBILITY OF ENJOYING FREEHOLD OWNERSHIP IN THE COMPANY’S EXISTING PROJECTS AT MINA AL ARAB AND JULFAR TOWERS. RAK PROPERTIES IS DEVELOPING VARIOUS RESIDENTIAL OPTIONS, RANGING FROM STUDIOS AND MULTIPLE ROOMS, TO LUXURIOUS 5-BEDROOM VILLAS. To highlight the activities of this leading company, “RakBusiness Magazine”, interviewed HE Mohammed Sultan Al Qadi, RAK Properties Managing Director, who gave his views on many issues: Let us explore future prospects and aspirations! Where do you see RAK Properties, as a real estate developer in the future of the emirate and the region? First, I would like to emphasize that the UAE’s plans and policies, focus on the future; therefore, all institutions governmental and private alike, are supposed to take this orientation into account and adopt it. RAK Properties, has always been looking forward to the future; and we have been confident that success, excellence and uniqueness are the key factors in this area. We have achieved significant success; and contributed to the implementation of several prominent and quality projects, which constituted an added value to RAK emirate. We always take into consideration the need of the market, uniqueness and inno-

vation. These are primary and important issues that must be adhered to at all times, in all projects and businesses. How do you view the future development of the real estate sector in Ras Al Khaimah? What are the ways to protect it from any fluctuations? Is the volume of supply and demand balanced in the market today? The real estate sector in Ras Al Khaimah, is moving forward steadily, thanks to the wise plans and strategies of the Government of Ras Al Khaimah, which all focus on attracting investments, and raising the efficiency of real estate companies in the emirate, by providing various facilities and incentives. RAK Properties is a major addition to the real estate sector in the emirate. We have vigorous future plans, through which we will actively participate in a number of vital areas, such as setting up shopping malls and entering the hospitality industry by launching a hospitality arm. This will eventually contribute to the diversification the company’s investment portfolio and RAKBUSINESS | 11

generate additional returns for shareholders. As for the second part of the question, regarding fluctuations and the size of supply and demand; we assure you that all our projects always undergo careful scrutiny and detailed studies which take into account the real estate sector in general, and the market forecasts and expectations, in order to deal to deal with any variables. Therefore, we don’t take any project, without considering the need of the market and the supply and demand forces. We always make the right decision for projects, learning from lessons of past experiences at the global level, especially with regard to dealing with crises. Mina Al Arab Project, has reshaped the hospitality and entertainment map of the emirate. What did it add to the high-end entertainment market in Ras Al Khaimah? How do aspire to develop this destination and enhance its presence and attractiveness, given the increasing number of similar projects? With its unique and vibrant location, and its embracing of high-end leisure and hospitality projects, Mina Al Arab stands today as a charming icon among the real estate, investment, tourism and leisure facilities in the emirate. It comprises one of the vital development projects of Ras Al Khaimah, with investments worth AED 5 billion over the next five years. As part of the master plan for the development of Mina Al Arab, which includes a number of five-star entertainment facilities, we have signed a contract with Al Nuaimi Group, to implement the “InterContinental Mina Al Arab Resort”, which will add 350 hotel rooms and luxurious suites to the emirate. The hotel, along with the “Anantara Mina Al Arab Ras Al Khaimah Resort”, which is targeting for an opening by the end of this year, will support the emirate’s aspirations to accommodate 2.9 million visitors by 2025. In addition to stressing the concept of real estate investment for individuals, I would like to emphasize that the Mina Al Arab project, is one of the most important projects which endorse the concept of integrated cities. It consists of hotels, shopping centers, residential and office buildings and luxury villas. We have completed more than one third of the project, which will be completed according to our plans, in the next few years. The project takes into account the exact requirements of the market and the needs of customers, commen12 | RAKBUSINESS

HAYAT ISLAND NO.

6,000,000 SQUARE FEET

66 % GREEN SPACE

2457

APPARTMENTS UNITS

238

TOWN HOUSES UNITS

351

KEYS LUXURY HOTEL

surate with the reputation of the emirate in the field of real estate and tourism. How do you work with partners in the Emirate to promote and develop real estate and tourism sectors in Ras Al Khaimah? What governs the relationship between you and the partners, complementarity or competition? Integration and competition are important common factor in work. Without competition, no one can develop, progress or grow. Without integration, we cannot offer the Emirate appropriately what it deserves. We are partners for the wellbeing of the emirate’ hand in hand with all stakeholders in real estate, tourism and investment activities. We work with our counter-

parts in a healthy competition to offer the best, away from conflict and selfishness. Any success achieved by any entity, is success for all; and we should build on it. In fact, we meet with partners and competitors, to discuss common issues and interests. The ultimate goal, is to promote and advance the emirate, with continuous competitiveness, based on cooperation, excellence, success and innovation. Regarding the Company’s listing in Abu Dhabi Stock Exchange; What did the listing add to the company’s position in the market, and to investors’ confidence? The listing of RAK Properties in Abu Dhabi Stock Exchange, is an added value to our business, and

ECONOMIC PANORAMA SPOTLIGHT

HAYAT ISLAND IS ONE OF A KIND IN ITS COMBINATION OF UNSPOILED NATURE AND AN ALL-ENCOMPASSING HOST OF AMENITIES, THAT RANGE FROM THE WATER AND FAMILY PARK, TO STRATEGICALLY LOCATED SHOPS, A MEDICAL CENTRE, MOSQUES, AND EXCEPTIONAL RECREATIONAL FACILITIES.

EXECUTIVE PROFILE Mohammad Sultan Al Qadi Managing Director, RAK Properties. A UAE National. Resident of Ras Al Khaimah Studied in UK and graduated in 1975 An Emirati entrepreneur, Board Member of the “Commercial Bank International” P.S.C. Managing Director of RAK Properties Board Member of the “Emirates Post Group” Member of the “Higher Colleges of Technology” Advisory Committee, and Board member of Rasmala Trade Finance Fund” Former Chairman of the National Development Commission in Etisalat. Founder of the Etisalat Training Academy of in Ras Al Khaimah and Chairman of the Steering Committee. (1984-2005) Chairman of Zantel-Tanzania, a joint venture between the Government of the UAE and the Government of Zanzibar. Chairman of the Founding Committee of Ras Al Khaimah Petroleum Company

a positive sign of our performance and presence in the real estate investment and financial arena. RAK Properties occupies a prestigious position, so we must be present in the financial market. Our agenda included the implementation of the Julfar Residence project on Al Reem Island in Abu Dhabi. This means that we are present in the market, and are keen to be active in important financial markets, as this positively reflects on our performance and enhances investors’ confidence in RAK Properties. You are ranked as one of the top 100 CEOs in the GCC; and you also held many leading positions in a number of prestigious national companies and institutions. What did you add to RAK Properties, with this prominent career and experience? What did RAK Properties

add to you, career-wise and personally? I am proud to have an accumulated experience of more than 35 years of work, diligence and success; gained from working in multiple positions, functions and assuming various responsibilities. At each station there was success, entrenched memories and invaluable experience. This accumulated experience turned into awareness and knowledge, which contributed to serving RAK Properties. The numerous prestigious awards won by RAK Properties, evidence its esteemed position as an active player in real estate development in the region. This phase has been a rewarding journey, which contributed to the growth of RAK emirate, in conjunction with the continued development and expansion of real estate projects throughout the region.

Al Qadi, also served as a Board Member of Arab Satellite Organization (ARABSAT) for 12 years, and he was the representative of the UAE in the Arab League Permanent Committee for Telecommunications in Cairo for 12 years till 2005. In 2012 Al Qadi was listed by Forbes Middle East as one of the most powerful CEO in the Arab financial markets for the last five years, and again he was ranked as one of the 100 top GCC executives.

RAKBUSINESS | 13

INVEST

ALGHAD LICENSE... STARTING BUSINESS FROM HOME “Alghad License” is one of the pioneering projects launched by the Department of Economic Development in Ras Al-Khaimah in 2007, in order to encourage citizens to engage in business, as it gives them the opportunity to work from home through developing low cost businesses to improve their income. “Alghad License” contributes to the economic development, encourages home-based business owners to develop their businesses and turn them into shops within three years. with an obligation to move their businesses to shops after that period. It also supports ideas and initiatives, organizes the process of developing home14 | RAKBUSINESS

based businesses in Ras Al Khaimah, preserves the intellectual property rights for entrepreneurs and finally supports entrepreneurs to improve business. ADVANTAGES In order to support and develop small businesses, several benefits and services have been offered to the holders of this license. Benefits include organizing annual exhibitions for entrepreneurs, providing educational courses and training services, overseeing projects and working to meet the needs of the license holders and solving their issues, marketing of businesses through

INVEST

Starting up a big project, A range of activities can be practiced from home

initiatives provided by the Department of Business Support and Development and providing them with free legal, financial, marketing and technical advice. REQUIREMENTS To obtain “Alghad License”, a number of conditions must be fulfilled: - Applicant must be a UAE citizen. - Applicant must be 18 years of age or older. - “Alghad License” must be the first business license for the applicant. - The house to be used for the business must be located in Ras Al-Khaimah, and the license holder must be the resident or the owner of the house. Up to two licenses may be granted to each house. - Sponsorship of foreign employment is not allowed. - Business name shall not be a previously registered trade name. - Business nature shall be of the permissible activities. It is prohibited to deal with substances that affect public health and safety. HOW TO OBTAIN “ALGHAD LICENSE”? After ensuring that the proposed business meets the requirements above, the licensees can submit their applications for membership of “Alghad License”, accompanied by the following documents: - Copy of valid passport. - Copy of valid UAE identification card. - A copy of the house ownership or rental lease, if the license holder does not own a house, along with clearance letter from the landlord. - Security approval of the required business. - Public Health Department approval if the business activity is releated to health or food items. “Alghad License” supports a number of health and economic activities for up to three years; AED1000 license fees, AED200 for both Arabic or English, AED1000 for annual renewal. Female citizens with social insurance and those who are 50 years and older, are excluded from these fees, as well as people of determination.

SUPPORT AND FOLLOW-UP The Business Development Department is continuously working on the development of the “Alghad License” program. This includes expanding the range of activities that can be carried out through this program by increasing the number of licensees and the program benefits, as well as the incentives offered to national entrepreneurs. For example: The “Green Way” initiative is made to support and encourage business owners, and shops to invest, and participate on launching or projects. The program offers all help for entrepreneurs to achieve progress and success. “Bring Us Together” initiative, is made to visit the license holders, with their concent to follow up and support their projects, render required assistance. RAK Department of economic development has 242 active licenses under the “Al Ghad License” initiative, which sheds various food activities, such as snacks, traditional dishes, sweets, beverages etc. There are other economic activities such as selling of perfume and oud, gifts and flowers, well as websites designing, photography, apparels, tailoring and others. The Department added a series of changes and improvements to “Al Ghad License” initiative, to make it more apt

OPPORTUNITIES

for the economic and technical developments witnessed in the past decade. These included the addition of a wide range of activities which allow citizens to work from home, embracing: consultancy, management, events organizing activities: as well as real estate management, property valuation services, transactions Clearance, typing and photocopying, school books upholstery and other intellectual or personal talents related activities, which will be assessed by the competent section in RAK DED Business Development Administration The following enterprises are among the prominent activities, under Al Ghad License umbrella: Hams Al Reem Perfumes and, Tanaheed Hair Care Products, Karasi Leather Products, Al Ghaweya Sweets and Fayonka Gifts Packing and distribution.

RAK DED INITIATED FOR THE FIRST TIME IN UAE AND RAS AL KHAIMA TO ADD EXEMPTION THE FEES OF ALGHAD LICENSES FOR THE FAMILIES OF PRISONERS. THE INITIATIVE WAS LUNCHED TO BE ALIGNED WITH ZAYED HUMANITIES DAY AND UNDER THE INSTRUCTIONS OF HH SHEIKH SAUD BIN SAQR AL QASIMI RULER OF RAS AL KHAIMA.

ALGHAD LICENSE

242

VALID LICENSES

1000

AED

LICENSE FEES

200

AED

TRADE NAME RESERVATION.

1000

AED ANNUAL RENEWAL

RAKBUSINESS | 15

A FUTURE PERSPECTIVE RAK DED SMART ELECTRONIC SERVICES THE UNITED ARAB OF EMIRATES IS ONE OF THE LEADING COUNTRIES IN THE FIELD OF ADVANCED AND WELL DEVELOPED SERVICES, DUE TO ITS HIGH-TECH QUALITY INFRASTRUCTURE, ADVANCED PREPAREDNESS AND CUTTING-EDGE FACILITIES IN THIS AREA. THIS EVIDENCES THAT STATE IS CONFIDENTLY MOVING TOWARDS ACHIEVING ITS STRATEGIC OBJECTIVES, AIMED AT ENSURING CUSTOMERS’ HAPPINESS. USING BEST TECHNOLOGIES AND APPLICATIONS TO PROVIDE HIGHLY EFFICIENT, LESS PROCEDURE, LOW-EFFORT AND TIME SAVING SERVICES, HELPED TO ENHANCE THE BUSINESS ENVIRONMENT AND IMPROVE THE QUALITY OF LIFE IN THE COUNTRY.

The Government of Ras Al Khaimah, is working steadily to achieve an integrated and comprehensive strategy. The Electronic Government Authority of Ras Al Khaimah (EGA), was established to transform the community of Ras Al Khaimah into smart society, and to enable keeping abreast of the technological advance which streams the world. It is also envisaged with translating government initiatives, into concrete projects, to make the ICT strategy a reality filled with innovation. 16 | RAKBUSINESS

The Electronic Government Authority (EGA), has adopted the (SAP) global application, as a as a platform, and a foundation for effecting institutional development at the level of government departments, to facilitate the interconnection of services in government departments. The EGA also responds and attends to projects requests, required by all government departments; and it programs and coordinates, in accordance with its obligations.

THE REALITY AND ROLE OF SMART ELECTRONIC SERVICES IN THE DEPARTMENT OF ECONOMIC DEVELOPMENT: To upgrade performance to higher levels, the department has set all capabilities, to develop its services, and convert them from traditional to smart. A number of smart services were launched over the past period. The most important, was the opening of the “Customers Happiness Center” at the headquarters of the main department, which came in line within the strategic plans of the department, to achieve the highest customers satisfaction and happiness, provide a smart environment which meets their aspirations and a spectrum of smart electronic services which exceeds their expectations. These supporting services include, the new application for customer service que tickets, provision of free smart phones recharging devices and free Wi-Fi. One hall has been set up to provide services to premium companies, as well as video screens to display all DED smart electronic services and customers and consumers notification messages. This step came as a result of the Department’s continuous efforts to keep pace with

INVEST REPORT

the UAE Government strategy to create a smart business environment, provide the best services and raise happiness and satisfaction among the community members. These developments have been translated into several positive indicators, some of which include: reducing the rate of time for licenses competition and significantly reducing the rate of time required for licenses registration; as shown in the illustrations.

26 Minutes

Minutes

Rate of time for license registration

2016

00:26:17

Mins

2017

00:17:13

Mins

04:11:48 07:41:27 Rate of time for license completion

2016

07:41:27

hrs

2017

04:11:48

hrs

PROSPECTS OF ELECTRONIC SMART SERVICES IN THE DEPARTMENT OF ECONOMIC DEVELOPMENT RAK DED, is currently developing and upgrading all services to reach customers directly in their workplaces and domiciles. Aiming to maintain to a paperless work environment, the department now provides nearly 20% of its services through modern technology. More than 53% of the transactions have been completed by smart means in 2017. • In this context, the Department of Economic Development works in close cooperation with EGA, to develop a unified electronic system in Ras Al Khaimah, for licenses and business permits of all types (commercial, industrial, tourism, professional, etc.). This will cater for all approvals required from other federal, Local, government or semi government departments. • The new system includes the monitoring and inspection operations, and related violation thereof. To facilitate operations, all licenses have been linked, and their geographical coordinates have been determined. The International Standard Industrial Classification of All Economic Activities (ISIC) was adopted. These developments will facilitate the preparation of all statistical reports and encourage investment. • The new system will enable the Department to link all authorities and entities related to the issuance of licenses. These entities will be empowered to authorize the Department to undertake certain actions on their behalf, such as collection of fees and authentication of contracts. The new system keeps pace with the government’s strategic vision, by transforming all services of the departments into smart electronic services. It is a dynamic and scalable system, which can accommodate any government entity that wishes to manage and integrate its initial approval procedures, or manage the licensing process itself. Thus, the system ensures electronic connectivity between all departments and their systems. It facilitates the activation of the one-stop-shop service, to enhance the business environment in the Emirate, to improve the doing business index ranking the international reports. RAK DED, is working to launch (Bawabati), a special program for the Department staff. It

links daily performance, to general career objectives of each employee: and it links also the strategic objectives of the Department to the strategic objectives of the emirate. This will minimize and reduce work procedures. RISKS AND CHALLENGES: No doubt that the development of the different types of remotely managed smart electronic services, faces many challenges. Most importantly: 1. Securing financial allocations and human resources, which pose important challenges 2. Coordination and integration between the various stakeholders, both federally and locally, in the light of the multiplicity of functions and tasks in many of them. 3. Facing the risks of hacking, cyber threats and cyber-penetration, which became a daily encountered reality. 4.The rapid technological change, is difficult to follow. Every day, most recent techniques are replaced and obsoleted by new ones. 5. The lack of flexibility of the regulatory and legislative frameworks, to keep abreast of technological developments. RAISING AWARENESS OF SERVICES AND RELATED RISKS The issue of electronic security has become important to all government and private institution, data and documents, disruption of electronic systems, and other risks have cost millions, in terms of impact and cost of investment in information security technologies. The nature of services provided by DED related to commercial licenses, promted the protection of such data. Therefore, the Department has given great importance and attention to providing all technical requirements, to protect its website and electronic systems. It continuously works to sensitize employees, to take all necessary measures to activate electronic security in the Department. A series of continuous awareness sessions that are usually organized by the Government of Ras Al Khaimah. Their importance and need continue, as they are intended to inform all concerned government employees of the latest available protection technologies, which are inherently renewable, as a result of the changing methods and techniques of electronic penetration. We look forward to the continuation of such programs at a more comprehensive and faster pace, given the pressing need for them. Awareness raising programs take many forms. They include specialized training programs, providing technical support and assistance to all employees, informing them of the adopted policies and formal procedures; both at the level of the government of Ras Al Khaimah in general and the DED level in particular. RAKBUSINESS | 17

What is Julphar Pharmaceuticals? Julphar was established in the UAE in 1980 under the guidance of His Highness Sheikh Saqr Bin Mohammed Al Qasimi. Julphar is one of the largest pharmaceutical manufacturers in the Middle East and Africa and for almost four decades, we have been delivering high quality, innovative and affordable healthcare solutions to families across the globe. What is Julphar’s main objective? Innovation, speed-to-market and cost-effectiveness are central to our business objectives. Our mission is to provide a better quality of life for the entire family, by delivering best-in class solutions and real value with compassion and professionalism. We aim to achieve industry-leading growth by investing in our business, developing our people and continuing to deliver high quality products. What is Julphar’s share in the local and global pharmaceutical market? We are the number one pharmaceutical company in the UAE in terms of market share and Julphar is among top 10 pharmaceutical company in the Middle East as per 2017 IMS Healthcare data Jerome Carle: General Manager of Julphar

JEROME CARLE...

JULPHAR... A PROMINENT PLAYER IN GLOBAL PHARMACEUTICAL MARKETS By: Khawla Ibrahim

JULPHAR GULF PHARMACEUTICAL INDUSTRIES, ONE OF THE LARGEST PHARMACEUTICAL MANUFACTURERS IN THE MIDDLE EAST AND AFRICA, HAS BEEN RANKED AS THE NUMBER ONE PHARMACEUTICAL COMPANY IN THE UAE BY IMS HEALTH FEBRUARY 2018 PANEL, JULPHAR, ALSO HAS WON RECENTLY, THE PRESTIGIOUS ASSOCIATION OF STRATEGIC ALLIANCE PROFESSIONALS (ASAP) AWARD FOR 2018 ALONG WITH ITS ALLIANCE PARTNER, MSD,THIS IS THE FIRST TIME A PHARMACEUTICAL COMPANY FROM THE MIDDLE EAST AND AFRICA HAS WON THE AWARD .TO SHED LIGHT ON THE COMPANY, RAKBUSINESS MAGAZINE INTERVIEWED GENERAL MANAGER OF JULPHAR JEROME CARLE: 18 | RAKBUSINESS

JULPHAR

5000

EMPLOYEES

1000000

MEDICAL PRODUCTS

40000000 MEDICAL PRODUCTS

What does Julphar add to the pharmaceutical industries in the region? Julphar is one of the biggest manufacturers and distribution companies in the region and will continue to play a crucial role in supplying medicines in the region. It has 16 internationally accredited facilities in Africa, the Middle East and Asia that produce more than a million boxes of medicines a day including tablets, syrups, suspensions, creams and injectables. We employ more than 5,000 people and distribute pharmaceutical products to more than 50 countries across the globe. We are vertically integrated and we have expertise across the entire pharmaceutical value chain. What are your products? How do you develop products and add more effective? We have a large and diverse range of medicines targeting major therapeutic segments. Our medicines target major therapeutic segments including Cardiology, GIT, Pulmonary, Dermatology, Pain, Wound and Scar, and Anti-infectives. Biotechnology

INVEST MADE IN RAK

JULPHAR DISTRIBUTES PHARMACEUTICAL PRODUCTS TO MORE THAN 50 COUNTRIES ACROSS THE GLOBE

is an area in which Julphar has made a significant impact. Our Biotechnology Unit is one of the largest facilities to produce insulin in the world and the only plant of its kind in the Middle East. We produce 40 million vials of insulin per year and our products are available in 34 countries. R&D is the lifeblood of the pharmaceutical industry and Julphar invests heavily in this area. Our R&D activities are led by a team of 200 highly-qualified scientists and experts. How do you keep pace with the global development of the pharmaceutical industry? There is increasing interest in Julphar and our products in an increasing number of key markets across the globe. The GCC continues to evolve and present increasingly interesting opportunities as well as many challenges. We are seeing governments encouraging the local manufacture of pharmaceutical products across the region, which is why we are forging strategic alliances and partnerships and expanding our manufacturing presence. The local manufacture of pharmaceutical products has been a key part of Julpharâ&#x20AC;&#x2122;s strategy. Last year, we opened a SAR 300 million stateof-the-art manufacturing facility in Saudi Arabia. We are also enhancing our operations in emerging markets and Africa is top of our list. A number of factors help make Africa an attractive area for the healthcare sector, chief among them, demographics. A growing population coupled with GDP growth is fueling the demand for quality and cost-effective healthcare solutions. Added to this is the surge in the level of cardiovascular diseases, as well as the growing prevalence of diabetes, which makes the pharmaceutical sector, in particular, vitally important.

new ideas, new ways of thinking and to exploring all possibilities that we believe will help the business and provide long-term results. Our partnership with MSD, for example, has enabled us to better compete on the world stage and it has given us a stronger foundation for the investment in innovation, facilities and skills that will support our long-term growth. MSD is a global leader and through our partnership, we are able to develop and manufacture best-in-class solutions to help meet patientsâ&#x20AC;&#x2122; needs, enhance access to healthcare and make a difference to families in the region. How does Julphar promote the development of the healthcare sector in the UAE? As a UAE-based company, we believe we are at an inflection point that will allow us to take advantage of opportunities to innovate, grow our pipeline and better serve consumers. We have a rich heritage and our business is part of the fabric of the UAE. Earlier this year, we signed an agreement with the UAE Ministry of Health (MoH) to ensure the availability of critical medical supplies during crisis situations. As one of the largest pharmaceutical manufacturers in the region, we have a duty to serve and lead by example and we are committed to positively impacting our industry and the communities in which we operate. Crisis preparedness is a top priority for us and we take it very seriously. It is vital that the people of the UAE have access to high quality healthcare products especially in crisis situations. What are your future plans for expanding

and developing? Our focus is to increase our impact in the global pharmaceutical industry. And we have done a lot on many fronts - on the commercial front, on the R&D front and in manufacturing. We have just launched several new products in key therapeutic area such as cardiovascular. Furthermore, our expansion plans are on track, particularly in Saudi Arabia and Africa, where we are making inroads in a number of key markets. We are building up a solid pipeline with the planned launch of 25 new products in the UAE this year alone and almost 200 new product registrations expected in the region. Continued investment in our pipeline will keep us on track to return to sustainable growth in line with our targets.

ABOUT JULPHAR ESTABLISHED IN 1980 IN THE UNITED ARAB EMIRATES UNDER THE GUIDANCE OF HIS HIGHNESS SHEIKH SAQR BIN MOHAMMED AL QASIMI. HE LARGEST GENERIC PHARMACEUTICAL MANUFACTURER IN THE MIDDLE EAST AND NORTH AFRICA AND DISTRIBUTES MEDICINES TO OVER 40 COUNTRIES JULPHAR OPERATE SIXTEEN INTERNATIONALLY CERTIFIED MANUFACTURING FACILITIES GLOBALLY, PRODUCE OVER A MILLION BOXES OF MEDICINES DAILY AND HOLD 4,074 PRODUCT REGISTRATION CERTIFICATES.

How you collaborate with partners, to enhance quality of life and contribute to a healthier future? We partner with organizations that enhance the work we do and enable us to broaden our reach and scope and increase our impact in the pharmaceutical industry. We are open to RAKBUSINESS | 19

BUSINESS

Mergers and Acquisitions M&A, are one of the ways by which companies expand their markets, activities and products, to increase their revenues and profits, through buying other companies in their business or in a variety of other areas where they see the opportunity for their growth and profitability. This article reviews the definition of mergers and acquisitions, highlights the difference between them, probes the legal provisions regulating them in the Companies Law, focuses on some legal provisions and sheds light on transparency, disclosure and benefits thereof. FIRST: THE DEFINITION OF MERGERS AND ACQUISITIONS AND THE DIFFERENCE BETWEEN THEM 20 | RAKBUSINESS

1. MERGER: In accordance with the provisions of the high courts, the incorporation of an incorporeal person in another incorporeal person, is a procedure intended to transfer the ownership of the merged person to the financial security of the integrated person. This is determined according to the instrument in which the merger was carried out, whether it is a contract or a text of the law. As a result, the merging enterprise will replace the merged entity, and the rights and obligations of the merged person, shall be transferred to the person merging therein, as the latter is a special successor to the first person, The merger is done either through

BUSINESS DEVELOPMENT

MERGERS AND ACQUISITIONS... REAPING BENIFTS OF LARGE-SCALE

CONSULTANT IHAB AL-KONI Judge and Legal Advisor, Department of Economic Development, Ras Al Khaimah

annexation, by dissolving the company and transferring its funds to another existing company, or by way incorporating, which is the dissolving of two or more existing companies and the establishment of a new company, to which the rights and obligations of the dissolved companies are transferred. It can be said that the merger is often between SMEs, which is poses as a strategic choice for these companies to move towards a clump and coalesce to create a new giant entity with advanced technical capabilities and capital, capable of utilizing the intensity of global competition, achieving the goals that cannot be achieved by each individual company alone, or overcoming the existing or expected future problems which may face these companies. The merger of companies together in a larger entity, is supposed to be the best way to achieve many positives goals. Articles 283 to 286 of the Federal Companies Law, stipulated the regulation of mergers, where they allowed the company by virtue of a special resolution issued by the General Assembly and the like, even if it is in liquidation, to merge into another company. The merger of companies together in a larger entity is supposed to be the best way to achieve many positives. Articles 283 to 286 of the Federal Companies

Law, provided for the regulation of mergers where, by virtue of a special resolution issued by the General Assembly and the like, even the company is in liquidation, it is allowed to merge into another company, where the merged companies conclude a contract among themselves, to organize the merger. The law stipulates that the entity concerned with regulating the merger of banks, is the Central Bank, which regulates the merger of companies licensed by it. The Minister of Economy shall issue the resolution regulating the methods, conditions and merger procedures for all companies, irrespective of their legal entity, with the exception of public shareholding companies, where the Board of Directors of the Securities and Commodities Authority shall issue the relevant resolution and specify the merger contract and its conditions and method, which shall specify in particular the following issues: 1) The Memorandum and Articles of Association of the merging company or the new company after the merger. 2) The name and address of each member of the board of directors, or the proposed director of the merging company or the new company. 3) The method of transferring the shares or stocks of the merged companies to the shares or stocks of the merging company or shares in the merging company or the new company. The members of the board of directors, or the directors of each merging company, or the directors of each merging and merged company shall submit the merger draft contract to the General Assembly or its representative for approval by a majority authorized to amend the Companyâ&#x20AC;&#x2122;s Articles of Association. The invitation of the General Assembly for considering the merger requires the following: (1) - It must be accompanied by a copy or a summary of the merger contract. (2) - The contract shall clearly state the right of any or more shareholders holding at least (20%) of the companyâ&#x20AC;&#x2122;s capital to object to the merger by appealing to the competent court within 30 days from the date of approval of the merger contract by the General Assembly or its representative. Finally, it should be noted that the merger, in accordance with Article 291, leads to the extinguishment of the incorporeal personality of the merging company or companies; and that the new company shall replace it or them in all rights and obligations; the merging company shall be the legal successor of the merged company or companies. The competent authority shall mark the extinguishment of the merged company and notify the Ministry or the Authority accordingly, as the case may be, according to the legal status of the company. If it is a public joint stock company, the Authority or others and the Ministry shall be notified. TO BE CONTINUED... RAKBUSINESS | 21

BUSINESS OPINION

TASAHEEL INITIATIVE... AN IMPORTANT STEP TOWARDS IMPROVING RAK BUSINESS ENVIRONMENT Dr. Abdel Halim Moheisen

RAS AL KHAIMAH DEPARTMENT OF ECONOMIC DEVELOPMENT, HAS LAUNCHED THE (TASAHEEL1) INITIATIVE, AS PART OF ITS ONGOING EFFORTS TO ENHANCE THE BUSINESS ENVIRONMENT IN THE EMIRATE. THE GENERAL TRADE ACTIVITY, IS THE ECONOMIC ACTIVITY ADOPTED BY THE WORLD BANK ANNUAL REPORT TO MEASURE THE EASE OF DOING BUSINESS IN ALL COUNTRIES OF THE WORLD. THE INITIATIVE WAS IMPLEMENTED IN EARLY FEBRUARY THIS YEAR.

DR. ABDULHALIM MOHEISEN Economic Adviser, Department of Economic Development of Ras Al Khaimah

22 | RAKBUSINESS

The initiative aims to enhance the Emirate’s efforts for improving the business environment, strengthening its competitiveness and achieving the strategic goals of the country. The adoption of the World Bank standards for the ease of doing business in the emirate is one of the objectives to attain, which will therefore; raise the profile of the emirate in international competitiveness reports. The initiative came within the context of the implementation the of reform and improvement plans, based on the results of the 2016 World Bank report on the “ease of doing business”. It is meant to encourage investors to open new business activities, increase the number of licenses and eventually boost the emirate’s business growth index. Tasheel initiative has significantly reduced the cost of starting a business. The number of days and the number of procedures will be reduced from 8 procedures and 8 working days in 2016, to only 2 procedures in 2018 (Singapore 3 in 2017). According to the Department’s estimates, this will lead to an advanced position regard-

ing the World Bank ease of doing business rankings. This endeavor of adopting (Tasaheel 1) initiative, is a pivotal part of the Department’s keenness to cooperate with all concerned local and federal government entities in the country, to elevate its services to be one of the best in the world, through the realization of the concept of the smart government. This requires the integration and optimum utilization of government data to provide distinct services to citizens and residents. The electronic smart service, is set to enable establishing business within 15 minutes for many economic activities, through the secured electronic activation of the services of local and federal concerned entities. The Department of Economic Development, is an important pillar of the Emirate’s economy and its sustainable development. It organizes, supports and develops the business sector. The strategic objective of the Department, is to regulate and develop business activities, through licensing of business activities, controlling and protecting commercial markets, issuance of economic policies and legislations, supporting business enterprises, attracting foreign investments and achieving sustainable development and growth. The Department has witnessed great development in the various aspects of its work, thanks to its sound economic vision, which is open to the best practices and international systems, drawing on the development of technology and knowledge, with aim to utilizing new technology to achieve its mission, vision and goals. Accordingly, the Department has endeavored to improve the quality and speed of licensing processes, in accordance with the established legal and institutional frameworks, without burdening investors. The Department will thus have a competitive advantage that matches global best practices. One of the most important strategic initiatives implemented by the Department of Economic Development in this area, is working in cooperation with the Electronic Government Authority (EGA) in Ras Al Khaimah, to develop a special electronic system for the issuance of economic licenses (SAB). The new system will enable the Department to link all entities involved in the issuance of licenses. This will make it easier for entities to authorize the Department to perform certain procedures on their behalf, such as contracts authentication, and the registering of companies with the Ministry of Economy. It is expected that this system will be completed and then officially launched at the beginning of next year, after completing a trial period and the training of the staff.

1 THE DEVELOPMENT OF EXPORTS STRUCTURE: The total value of commodity exports from the emirate (exports + re-exports) for the period 2013-2017 amounted to AED 5411.6 million in 2017. The increases and decreases during this period, are mainly due to the change in the value of re-exports. The table below shows that commodity exports hiked from AED 2880.3 million in 2013 to 3399.1 in 2017.

Table (1) Commodity Exports of Ras Al Khaimah (2013-2017) (million AED) 2013

2014

2015

2016

2017

Value of Commodity Exports

2880.3

3461.4

3558.2

3777.0

3399.1

Value of Re-export

4035.3

4257.3

2445.2

2794.1

2012.5

Total Value of Commodity Exports

6915.6

7718.7

6003.4

6571.1

5411.6

Figure (1) Commodity Exports of Ras Al Khaimah (2013-2017) (million AED)

Development Ras Al Khaimah Foreign Trade 2013-2017

8,000

7718.7 6915.6 6003.4

6,000

6571.1 5411.6

4,000 2,000 0

Prepared by: RAK center for statistics and studies

2013

2014

2015

2016

2017

RAS AL KHAIMAH EMIRATE HAS A WIDE NETWORK OF TRADE RELATIONS, SPANNING MORE THAN 125 COUNTRIES ACROSS FIVE CONTINENTS. TRADE ACTIVITIES INCLUDE COMMODITY EXPORTS, RE-EXPORTS AND IMPORTS. IN

2 THE DEVELOPMENT OF IMPORTS STRUCTURE: Imports increased during the period 2013-2017 from AED 2701.3 million in 2013 to AED 3516.8 million in 2017, with an annual growth rate of 7.5%. This led to raising the relative importance of imports in the emirate’s total foreign trade, from 28% in 2013 to 39% in 2017.

TERMS OF DIRECT EXPORTS OF NON-OIL COM-

Figure (2) Value of Commodity imports to Ras Al Khaimah (2013-2017)

MODITY, RE-EXPORTS AND IMPORTS, ASIA

(million AED)

RANKED FIRST, AS IT CAPTURED 95% OF THE EMIRATE’S TOTAL EXPORTS AND ABOUT 81% OF THE EMIRATE’S TOTAL RE-EXPORTS. AS FOR IMPORTS, ASIA ALSO CAME IN THE FIRST PLACE, WITH A SHARE OF 37% OF THE TOTAL IMPORTS

3528.6

4000 3000

3032.5 2701.3 2144.2

TO THE EMIRATE, FOLLOWED BY EUROPE AND AFRICA IN TERMS OF RELATIVE IMPORTANCE. THIS REPORT HIGHLIGHTS FOREIGN TRADE

3516.8

2000

INDICATORS, AND THEIR IMPORTANCE IN THE EMIRATE’S ECONOMY, BASED ON DATA ISSUED

1000

BY THE CUSTOMS DEPARTMENT ON THE AREAS CONCERNED, DETAILED BY VALUE, COUNTRY, AND CUSTOMS AIR, LAND AND SEA PORTS. 24 | RAKBUSINESS

2013

2014

2015

2016

2017

BUSINESS STATISTICS STUDY

FIGURE (3) : FOREIGN TRADE BY CONTINENT 2017 3

Trade partners of the Emirate of Ras Al Khaimah 2017: The geographical distribution of RAK foreign trade, reflects the emirate’s extensive commercial relations with the outside world, which extend over 5 continents and more than 125 countries. Asia topped the list of partners by continent, accounting for 70% of the total value of foreign trade in 2017. Around 55% of RAK’s total foreign trade with Asia was with Oman, China, India and Kuwait, while Africa and Europe captured (9% and 8%, respectively), as shown in figure (3).

In terms of partnership by country, the Sultanate of Oman came on top, as the first strategic partner of the emirate, with a total trade value of AED 1457.5 million, representing 16% of total foreign trade. It accounted for 24% of the volume of trade with Asia. China ranked second, with a total value of AED 914.2 million, representing 10% of the emirate’s foreign trade.

%80

%69 %60

%40

%20

%16

Aisa

%16

Africa

Europe

%0.3

N&S America

Oceania

FIGURE (4) :TRADE OF RAS AL KHAIMAH EMIRATE 2017

%12

%10 %9 %8

FOREIGN TRADE BY CUSTOMS OUTLETS IN THE EMIRATE OF 2017: Saqr Port and Ras Al Dara, in the northern part of the emirate, are the most important ports of Ras Al Khaimah, as they cater for nearly two-thirds of RAK emirate’s foreign trade. The other third is handled by free zones ports, mainly, the Northern and Southern Free Zones ports, RAK Maritime City port and Al Ghail Free Zone. In terms of imports, the ports of the Southern Free Zone, Saqr Port, Maritime City, and Ras Al Khaimah port, are the main ports, through which 82% of the emirate’s total imports of 2017 were handled. One-third of imports came through the Southern Free Zone. As for exports, 98% of the emirate’s exports were shipped via Saqr, Ras Al Dara and Ras Al Khaimah ports. About 69% of the emirate’s exports were exported from Saqr Port. Regarding re-exports, about 87% of which were re-exported through the ports of Ras Al Dara, Saqr and Al Jazeera ports. The share of Ras Al Dara port alone was 83%.

%6 %5 %4

%4 %3

Oman

China

India

Kuwait

Saudi Arabia

Bahrain

Japan

USA

South Africa Mozambique

Figure (5) RAK Foriegn Trade by custom outlet 2017 %40

%37 %35

%30

%27 %25

%20

5 TRADE BALANCE: Foreign trade data showed a continuous surplus in the trade balance of Ras Al Khaimah, during the period 2013-2017, as a result of the high value of total exports compared to imports. The surplus surged significantly in 2013 and 2014; however, it amounted to a minimum of AED 1895 million in 2017 and reached a peak of 5575 million in 2014.

%15

%13 %11

%10

Saqr port

Ras AlDara

FTZ.S

Maritime city

RAK Port

J.Alhamra

FTZ.N

RAK Airport

%0.02

FZt. AlGhail Emirates Post

RAKBUSINESS | 25

DR. MYUNG-WHUN SUNG

NO NEED FOR MEDICA TREATMENT ABROAD SKSH PROVIDES A MODEL FOR HIGH QUALITY MEDICAL CARE

By: Khawla Ibrahim

THE UNITED ARAB EMIRATES HAS STRENGTHENED ITS COMPREHENSIVE HEALTH PROGRAMS, BUILDING ON THE IMPORTANCE OF THE HEALTH CARE SYSTEM AS ONE OF THE PILLARS OF A COMPREHENSIVE AND SUSTAINABLE DEVELOPMENT PROCESS. THE STATE HAS BEEN KEEN TO EXPAND THE ESTABLISHMENT OF ADVANCED MEDICAL HOSPITALS, AND EQUIP THEM WITH THE LATEST ADVANCED DEVICES. SHEIKH KHALIFA SPECIALTY HOSPITAL (SKSH) IN RAS AL KHAIMAH, IS THE FIRST SPECIALTY HOSPITAL IN THE REGION TO TREAT TUMORS, CARDIOTHORACIC SURGERY AND NEUROLOGY. THE HOSPITAL IS SUPERVISED BY A SELECTION OF THE MOST COMPETENT MEDICAL STAFF, BOTH INTERNATIONAL AND LOCAL.

To shed more light on this hospital and its services, RAKBUSINESS Magazine, met Dr. Myung-Whun Sung, CEO of the hospital, who explained at the beginning the great role played by the hospital in providing the region with a number of rare medical specialties. “The hospital was opened under the initiative of the President of the State, His Highness Sheikh Khalifa bin Zayed Al Nahyan, and is managed and operated by the University Hospital of Seoul. It provides high-quality healthcare services in the Northern Emirates and the whole region, with stateof-the-art technology, diagnostic and therapeutic medical equipment for oncology, cardiothoracic surgery and neurosurgery. The hospital’s modern equipment includes CT scans, magnetic resonance imaging devices, radioisotope tomography devices, two linear accelerators, a modern medical lab, and other integrated health services to meet the needs of UAE nationals and residents.” Dr. Sung said explained. “The hospital adopts the latest international protocols for the diagnosis and treatment of tumors of all kinds; these protocols support the integrated treatment courses needed by the patient. It may include chemotherapy, radiotherapy, surgical procedures, periodic and necessary diagnostic procedures to follow the progress of the patient’s health status. The efforts of the Sheikh Khalifa Specialty Hospital to change the concept of oncology treatment, adopt the concept of “moderate treatment”, aimed at removing the mass of cancerous tumor, taking into account the preservation of healthy tissue cells to the extent possible”. “As part of its contribution to the “National Breast and Cervical Cancer Early Detection Program”, the hospital received about 5000 of mammogram images readings from the National Early detection Centers affiliated to the Ministry of Health and Community Protection. Hundreds of rigorous tests, were also carried out by the hospital, where some cases were detected and appropriate treatment was provided.” Dr. Sung said. 26 | RAKBUSINESS

Dr. Myung-Whun Sung, CEO of the hospital

SKSH NO.

155000

MEDICAL CASES RECEIVED

1100

PATIENTS FROM ABROAD

3000

OPERATIONS CARRIED OUT AND MORE THAN

8000

MEDIAL PROCEDURES AND

91000

OUTPATIENT

Regarding the quality of the achievements of the hospital, Dr. Sung said, “Since its opening in February 2015, the hospital has received about 155,000 patients with various tumors, cardiovascular, neurological and related diseases. The hospital managed to treat about 1100 cases coming from outside the country. The proportion of citizen patients reached 90%. So, the hospital has eased the burden of travel for them and their families, and provided them with unique treatment services, by international standards in a specialty local hospital. “ Dr. Sung continued: “The hospital carried out nearly 3,000 major and intermediate operations, including oncology, open heart surgery and neurosurgery, as well as more than 8,000 medical procedures, including laparoscopy, diagnostic and therapeutic catheterization, and outpatient clinics for more than 91,000 patients. Some 64 patients have been referred to the emergency department and about 8,000 patients have been received in the internal departments. “ On the role played by the hospital in promoting medical tourism in Ras Al Khaimah, Dr. Sung said: “In December

BUSINESS ACTIVITIES

2016, the hospital launched the Health Promotion Center, to boost medical tourism, which offers three packages with integrated services at competitive prices aimed at early detection of heart, tumors and chronic diseases. The first package includes basic tests for chronic diseases, accurate laboratory tests, endoscopy for early detection of tumors, heart, and vascular diseases. The second package is the early screening kit for tumors; Additional specialized tests are performed through interventional radiology, laparoscopy, CT scan, and MRI for early detection of tumors. The third package includes detective examination of heart disease through additional specialized tests of the heart and various blood vessels. The Health Promotion Center, encourages early detective testing of chronic and communicable diseases and aims to increase the growth of the number of medical tourists, given the hospital’s high treatment services, comparable to the most important and the most modern treatment centers worldwide.” Dr. Sung added, Concerning the role of the hospital in the development of the health sector in the country, Dr. Sung said, “In accordance with the directives of the sagacious leadership, to make the hospital a scientific and research beacon for doctors and researchers at the three medical centers of excellence, the hospital has held a number of medical conferences, lectures and specialized workshops, in the presence of many doctors and technicians from inside the hospital, and from government and private hospitals in the UAE. These events are particularly important, because they are organized by a group of doctors who have received medical education, practical training and gained extensive experience in the most prominent educational institutions. This adds to the great potential of the hospital, which enables it to offer comprehensive programs for all areas of specialized health care.” At the end of the dialogue, Dr. Myung-Whun Sung, CEO of SHSH, paid tribute to the great leadership of the health care system, saying: “The leadership’s interest in the UAE in supporting and developing the health

ABOPUT SKSH SKSH has a 246 bed capacity for the care of inpatients, and a number of outpatient clinics open during the week. SKSH opened seven general wards: three male wards, three female wards, one mixed ward, and a VIP ward. The Operating Theatre has 10 sophisticatedly designed, spacious operating rooms as well as a 49 beds postoperative recovery unit. The emergency department provides efficient, prompt and systemic care for the cerebrovascular and heart diseases.

sector, highlights its keenness to care about the human being, as it is the center of progress for any development process. Thanks to His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, for his constructive initiatives. We highly appreciate the support of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. We deeply commend the tireless efforts and follow-up by His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, for the projects and programs of the President’s initiatives, which contributed to the upgrading of development projects and medical services provided to match the highest international standards. Thanks are also extended to the Medical Office, headed by HE Hassan Ahmed Al Alkim Al Zaabi, Undersecretary and Director of the Medical Office of the Ministry of Presidential Affairs, who oversees and supervises the hospital; for his great role in making a qualitative leap in the specialized health services. RAKBUSINESS | 27

THE SECURITY CHECK AND LEGAL LIABILITY THE UAE LAW HAS GIVEN HIGH PRIORITY TO PROTECTING BUSINESSES, AND HAS PROVIDED COMMERCIAL AND FINANCIAL TRANSACTIONS WITH A LOT OF LEGAL COVERAGE, WHICH CONTRIBUTES TO THE SOUNDNESS OF BUSINESS PRACTICES. THIS INCLUDES THE UAE LEGISLATOR’S PROTECTION OF THE MOST IMPORTANT COMMERCIAL PAPER, AND THE MOST TRADED PAPER IN THE COMMERCIAL MARKETS, TO EXCHANGE MONEY AND ENSURE ITS MOVEMENT IN THE HANDS OF TRADERS, NAMELY THE “CHECK”.

This article is provided by “Ibrahim Al Hosani Advocate Legal Services & Training” 065565566

The most common mistakes related to checks, come from the so-called “security check”, which is given as collateral for business transaction. However; the Penal Code does not recognize this, and considers the giving of a check which is returned by the bank, dishonored and unpaid, as a crime punishable by law in accordance with Article 401 of the UAE Penal Code which states: “Shall be sentenced to detention or to a fine, whoever draws in bad faith a check without sufficient funds or who, after…” In applying this provision, the law makes no distinction as to whether this check has been issued by way of security or otherwise. All checks in respect of the law, are an instrument of fulfillment, not for security, due for payment and takes the place money is in fulfillment of transactions. As long as the check meets the requirements, which give it its legal form as a tool of fulfillment, according to the law, the drawer cannot change the nature of this paper, or privileges that are granted to it by the law. No offense of (issuing a check without a balance), due to the release of the check or the purpose of its release. The criminal intent in this crime, is realized when the drawer knows that there is no coverage of funds on the date of drawing.

The criminal intent in this crime, extends to the person who endorses the check (the endorsement is the signature on the back of the check in favor of a third person), because the endorsement of the check transfers the ownership of the check to the endorsee. This makes the relationship not limited to the drawer and the beneficiary to whom the check was issued, but extends to the endorsee, who becomes the owner of the value of the check immediately after the endorsement. This would entail criminalization and punishment of the endorser too, if he is aware that there is insufficient withdrawable credit. This crime of (giving a check in bad faith), is realized once the check is signed, even if the drawer did not fill the check data. Giving a blank check, is tantamount to authorize the beneficiary to fill in the check data. Thus, the filling of the check by the beneficiary is not considered fraudulent as many people think. The mere presence of the check in the hands of the beneficiary, is an indication that the beneficiary is entitled to its value, and that the value of the check has not been met. Those who claim otherwise must prove their claim. This may be proved by a clear written evidence, indicating that the check has been paid or settled.

١ 1 - Cheque must include one date only. - Cheque can’t be presented before the issued date

١1

١ 2 If the cheque has no name mentioned it considered CASH

١2 3

١4

١ 3 The Amount must be written by letters and Numbers together, in the case in deference the amount which has been written in numbers will be taken into consideration. ١ 4 The signature must be identical to the signature has been approved in the Bank.

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BUSINESS LEGAL CONSULTANCY

ONE DAY COURT

Established by Ras Al Khaimah Courts implementing to the rule No. 38/2016 Ruled by H.H. Sheikh Mohammed Bin Saud Al Qasimi Specialized in Civil and Commercial which doesn’t exceed 500 Thousand Dirhams

LAWSUIT PROCEDURES

١1

Starting the procedures online in front of the court.

The judge issues the judgment in the lawsuit in the same registration day after hearing the parties defense.

The Judgment of this Court is Final and powered as the law in the lawsuit which doesn’t exceed (20 Thousand Dirhams).

The judge specialized when issuing the judgment who will bear the fees of the lawsuit and execution and who is exempted.

CONSULTANCY QUESTION: I am wholesale trader, who sells goods to retailers. For the most part, sales to retailers would be on credit. I.e. by deferred payment. Can you advise me on how to legally secure my rights? What is the mechanism of dealing with the buyer when concluding the deal? Thanks in advance for your help! ANSWER: First, you should have full knowledge of the buyer’s basic data, such as his (address, phone numbers, emails, and the name and designation of the person authorized to sign, if you are dealing with a company). This information can be obtained from the commercial license, or from the Department of Economic Development. You should also get the following documents well maintained: 1. Purchase request issued by the buyer, indicating the description and details of the goods to be purchased. 2. The price quotation issued by the seller, indicating the price for each item and method of payment. 3. The purchase order issued by the buyer. 4. The delivery order for the goods sold by the seller; signed by the buyer for receiving the goods in good condition. 5. An invoice including the details of the goods sold, their value and the method of payment. Expect from buyer and marked with buyer’s stamp. By doing so, your transaction will be legally protected. If the buyer fails to pay on time, you can then take legal action.

RAKBUSINESS | 29

ENTREPRENEURS

His decency, civility, wide knowledge, education, culture, commitment, responsibility and professional ethics all qualified him to carry the onus of the most ancient profession in history; as dedicated lawyer. For him, duty is a motive to promote virtues and values, and the profession is a means to spread knowledge. Ibrahim Al Hosani, the young Emirati lawyer, who, with his hard-line intellect, managed to transform the legal profession from a mere profession for earning money into a platform for spreading knowledge and values of justice, integrity and the rule of law. His

30 | RAKBUSINESS

name today is known in the world of law and legal consulting Al Hosani, as a lawyer today is well known in the world of law and legal advice. He spares no effort or time to promote society and spread legal awareness, because of its impact on achieving safety, prosperity and happiness, through the commitment of each individual to his duties and knowledge of his rights. RAKBUSINESS Magazine interviewed Ibrahim Al Hosani, who highlighted his pioneering experience in law and legal services.

ENTREPRENEURS INSPIRATIONAL EXPERIENCES

IBRAHIM AL HOSANI...

A SPECIAL MODEL IN LEGAL ARENA By: Youssef Al Nuaimi

The Magazine had the following dialogue: First letâ&#x20AC;&#x2122;s get to know you. What prompted you to study law? I was born in a family that loves education, and is open to culture and knowledge. This has a great impact on the formation of my cognitive personality. I started looking for the field of study that reflects my ambitions and achieves my goals. Several options looming around, but my passion for studying law eventually prevailed. Taking that decision was a conscious and correct choice. The stage of adventure began, and I had to work hard to achieve excellence and success, so that I could become someone able to create an impact in society. In fact work in the legal sphere is the only work that interacts with all aspects of life. What are the main services provided by your legal firm? From the very first moment, I started looking for excellence. Through hard work and dedication, we have reached to the stage where we became a model of private innovative and multifaceted legal services. Our services Include legal services, consultancy, training, business services and legal translation. We recently launched debt collection services, and we plan to do more soon.

We are now on the right track, and we are constantly striving to be a milestone in the world of legal consultancy, one of our services. We also aspire to be a reliable legal reference, in all our services. We have already expanded our business, and today we have offices in Sharjah and Ras Al Khaimah, and we render our serve in all emirates. Concerning the second part of the question, we see competition as an opportunity, not a challenge; and we deal positively with competitors. In line with our principles and norms, we aim at making our competitors targeted groups for our services. We can achieve this through the multi-service system that we provide; and expanding our services beyond the work of lawyers, and legal advice.

LEGAL ADVOCACY IS NOT ONLY A MONEY EARNING PROFESSION, BUT A PLATFORM FOR SPREADING KNOWLEDGE, VALUES OF JUSTICE, INTEGRITY AND THE RULE OF LAW

Where do you stand today in the field of legal advice and law? How do you compete?

You have entered the field of training. Tell us about this move! What did this step add to your firm? How does this field intersect or integrate with the basic services of the consulting and law firm? Planning for a global move towards excellence in performance and services, prompted that legal training should come on top of the list of targeted activities. In a very short period of time, we have been able to provide legal training, at a level that is most appropriate for this activity; and a mechanism that meets the criteria of innovation, susRAKBUSINESS | 31

tainability and quality. We have provided legal training commensurate with technological development; and in less than a year we have organized two legal conferences, which were a model of training and raising legal awareness. The first conference was organized at the level of the Arab States, and was held in the Arab Republic of Egypt; the second was at the Gulf level, and was held in the Emirate of Sharjah under the name of (Developing Professional and Academic Performance in Legal Work). We also provided a range of training programs, in which we proved that legal training is not limited to lawyers, judges or prosecutors. Training is a broad field, and can include all types of administrative, financial, institutional and other training. We are now setting the stage, and preparing for offering unique training programs and conferences, during the second half of this year. In the Year of Giving 2017, you launched the “iLAW Care Initiative”! Is this initiative still in place? How do you establish and entrench the initiative? Based on the social responsibility that we commit to in our business, the iLOW Care initiative is still active and serves all those who want to take advantage of the opportunities it offers. First, we are working on establishing and sustaining the initiative. Second, we develop the services provided by iLAW Care, based on the feedback and evaluation of beneficiaries. For more information about iLAW Care and other initiatives 32 | RAKBUSINESS

and activities, we invite you to visit our website at www. ilaw.ae Ignorance does not absolve you of the responsibility of not complying with law, and does not keep you away from punishment. What is the importance of legal education in society? How do you raise, from your position, the legal awareness of people, about law, rights and duties? Legal awareness is most important at the individual and institutional levels of awareness. Awareness and legal knowledge are the protective shield against risks, and the spearhead in goal achievement. We at “Ibrahim Al Hosani Advocate, Legal Consultants & Training Centre LLC”, are working diligently, to achieve our mission to raise awareness, spread legal culture and to reduce the legal knowledge gap at the level of individuals, and government and private institutions. This is done by launching visual initiatives in social networking sites, such as “Deer Balak” Initiative. Through the initiative, nearly 100 recorded videos, all of which are devoted to legal education, were published in the areas most in need. We have provided a range of free legal courses and programs, to raise the level of legal knowledge and culture at the individual level, such as the “Family Legal Counsel” program, which aims at qualifying one individual in each family to be able to address family problems before being brought to court. We have also introduced programs targeting government and private en-

ENTREPRENEURS INSPIRATIONAL EXPERIENCES

tities, such as the training program (managing the legal gap in quality training). We constantly work to plan activities, to ensure that we continue to have a positive impact on the level of awareness and legal culture. You are known for your passion for knowledge and for transmitting it to others. Tell us about that, and how did this contribute to your success? In 2016, I decided to publicly challenge myself by reading 100 books. However, I managed to read 98 books. Most important in this experience, I was in harmony with myself. I know I was eagerly seeking knowledge since childhood. Knowledge is what really distinguishes people. The lesson we learnt from the story of Prophet Adam (peace be on him); (And He taught Adam all the names of all things). Allah (SWT) blessed Adam with Ilm (knowledge), which is the most important privilege. Passion for knowledge remains limited, if we do not disseminate knowledge or convey it to others. In fact, this trend has contributed greatly to my success today, as I have an audience of loyal followers. Is it necessary for each businessman to have a legal advisor? What is the importance of that? When is it necessary for the businessman to seek the help of a legal adviser “lawyer”? It is necessary for the business owner to protect his business, by relying on a legal adviser, noting that this advisor may be the same owner, if he can educate himself, and gain adequate legal knowledge to protect his economic activities. As the Arabic proverb says, “an ounce of prevention is better than a pound of cure”. The legal adviser may prevent the business owner from falling into any future problems, the cost of which may exceed the cost of the legal consultation. However, the presence of a legal adviser whenever a problem occurs, contributes to solving it with minimal time, financial costs and least social and economic impacts.

It is very important to be enthusiastic about the idea, and to start with full force to implement it; but the most important thing, is to consolidate and strengthen this idea, and implement it, so as not to become a burden..

What advice do you give to young people entering the business and investment world? I will confine the tips to the following specific points: - It is very important to be enthusiastic

Never stop learning! gain more knowledge, and exchange knowledge.

SUCCESS TIPS

Profit is the main goal, so it is necessary to get rid of all the causes of erosion of profit, and work hard to achieve profits.

about the idea, and to start with full force to implement it; but the most important thing, is to consolidate and strengthen this idea, and implement it, so as not to become a burden. - Profit is the main goal, so it is necessary to get rid of all the causes of erosion of profit, and work hard to achieve profits. - Never stop learning! gain more knowledge, and exchange knowledge. - When you are strong, you will be with those who are strong. Finally, what are your aspirations for the future? Describing and summarizing future aspirations in specific words and ideas, is not appropriate for realizing future dreams. However; some of what I am looking forward to, is that I and my firm represent the United Arab Emirates in international legal forums. I also look forward to seeing a more flexible, productive and sound law educational system, to graduate qualified legal professionals. RAKBUSINESS | 33

WHEN IS IT DIFFICULT TO CONCENTRATE?

HOW TO CONTROL YOUR THOUGHTS AND MINDSET? By: Youssef Al Nuaimi

Every one of us has the ability to control the motion of their limbs in the way they want, such as moving their arms or guiding the motion of their feet in a certain way. However, most of us may not have this ability when it comes to controlling the motion of the brain –so to speak. For instance, when an individual is thinking about a certain situation or a problem, his thinking often gets distracted by thoughts lingering in the back of his mind. Thus, people find themselves totally deviated from the thought they started with, and having difficulty getting back in control of their thoughts, due to poor concentration skills. This may impact their daily life as well as their academic progress and professional career in a negative way. So how can we develop our concentration skills in order to be successful? What obstacles may impede an optimal level of concentration? also, how can we improve and promote our concentration skills?

34 | RAKBUSINESS

There are many barriers that prevent you from achieving optimal focus, including the following:

• Distortion: Noise is one of the biggest impediments to the concentration process, so try your best to distance yourself from all causes of dispersion. • Lack of motivation: Focusing and attention work together; thus when attention is lost, focusing fades away, so the lack of a strong motive for work weakens concentration. Thus it is better to try to create motivation and promote attention to reach the peak of attentiveness. • Poor training and practice: As mentioned above, concentration is a skill that requires continuous training. • Poor prioritization of work: Many people have a lot of work to do, and thus they try to multitask instead of prioritizing work. • Giving up to frustration: An old wisdom says that people are two types, the first type learns to deal with anxiety and frustration in life, and the second wishes that they could. • Stalling: Many people tend to postpone things that do not appeal to them, without considering the consequences of this delay. • Poor planning: The absence of a specific action plan or strategy contributes significantly to the weakness of concentration. • Confusion of priorities: Time and effort wshould be invested in high value activities, so, priorities should be set accordingly. • Stress and anxiety: Stress and illness affect the concentration process significantly, as concentration is a directed mental energy.

ENTREPRENEURS SKILLS AND TALENTS

EXERCISE: I’M GOOD AT CONCENTRATING

HOW TO IMPROVE CONCENTRATION? Concentration is the starting point for success. When we have high concentration skills, we can invest our time accurately, accomplish a great deal of work, deliver the best activities and achieve the desired success. Here are a few steps to improve the ability to focus on work:

• Write down your to-do list. • Highlight your high value activities. • Write down your most important commitments in a list. • Make a list of seven tasks and rank them by priority. Start with the top priority task until you finish it, then start with the next one and so on until all tasks are done. • Keep your desk always organized and make important documents readily available at your fingertips. • Sort papers according to their importance. • Get rid of the papers that are useless. • Keep papers of undetermined need in separate labeled folders. • Focus on getting jobs done, and motivate your subordinates. Reduce visits to your office, and set specific hours for reviewing tasks at the beginning of the day, preferably between 9:00 and 11:00 am, or in the afternoon between 2:00 and 4:00 pm. • Use desk phone and mobile during working hours for business only. • Stay away from low-value tasks, which are usually time-consuming and have no return.

As mentioned previously, concentration is a skill that cannot be mastered by anyone; you have to practice certain daily exercises for two to three weeks. This is the time needed to leave an old habit or gain a new one; thus you can develop your concentration skills and control your thoughts. Remember that you should not expect immediate results, because there is no magic solution that gives you the level that you hope to achieve. Skills development requires time, effort and commitment. The following exercise helps you to develop your skill and control your mind and thinking: • When you finish your work, go home, sit in a quiet room, and make sure you turn off your TV and mobile phone. Sit on a chair so that the backrest is in a straight position. • Close your eyes, and try to repeat the following phrase loudly: “I am good at concentrating” for five minutes, focusing on the word “good”, then set the alarm clock to ring every five minutes. This will have a positive effect on developing your concentration skills. • Distractions may occur during the previous exercise, so try to overcome any interrupting thoughts until you are able to control your thinking, you will be able to stop thinking about what you do not want. This is your biggest challenge. • Do not distract yourself with different interrupting thoughts. Try to disregard any distractions and focus on your original phrase: “I am good at concentrating”. • After repeating this exercise for several weeks, try to apply it at work and replace the previous phrase with a task that you have to do.

RAKBUSINESS | 35

PREVENTING WORKPLACE STRESS MAKES GOOD BUSINESS SENSE STRESS IS A RECOGNIZED ENDEMIC FOR PEOPLE ACROSS THE WORLD, BUT IT HAS NOW BECOME AN OVERWHELMING CHALLENGE FACING THE WORKFORCE AND IS HAVING A CRIPPLING EFFECT ON HEALTH AND PRODUCTIVITY. AS AWARENESS INCREASES AMONGST EMPLOYERS IN THE MIDDLE EAST, ANDRÉS OPPENHEIM, THE GENERAL MANAGER FOR A LUXURY SWISS CLINIC, NESCENS CLINIQUE DE GENOLIER, BELIEVES THERE IS A MARKET TO INTRODUCE IN-DEPTH PREVENTIVE HEALTH CHECKS AS A WAY TO COMBAT STRESS AND BURNOUT.

TACKLING ANXIETY AT WORK BENEFITS EMPLOYEE HEALTH AND INCREASES THEIR PRODUCTIVITY 36 | RAKBUSINESS

“The corporate check-ups that we offer at the Nescens Clinique De Genolier see international organisations sending their top executives to get cleared for a full bill of health,” said Oppenheim. “The investment that these organisations are making for employees in executive positions is good business sense to have them go through a series of health checks over the course two or three days, and come back relaxed, de-stressed and motivated knowing they are in the clear.” Citing Willis Towers Watson’s ‘Staying@work’ survey for workers in the GCC, Dr Martin Zarate Lagunes, a specialist in general internal medicine, geriatrics and gerontology for the clinic says the fact that high-stressed workers take more time off work and have a higher amount of unproductive day sets a worrying precedent for employee health. “The impact stress has on one’s health can be far-reaching and detrimental, and can often manifest in a variety of ways. These symptoms of stress, whether it’s sleep deprivation, high blood pressure, or headaches, are compounding and can lead to fatal attacks such as a stroke or heart failure.” “Even when we talk about levels of anxiety, we can see that a large percentage of the workforce

in the region is susceptible. Speaking specifically about the UAE, around 90% of employees are made up of expatriates and, with the added stress of being away from friends and family, can significantly attribute to anxiety.” With comprehensive packages targeting the GCC and the UAE specifically, the clinic uses the results to provide medical insights, pin-pointing any future risks to the clients’ health. Added Oppenheim, “Health is priceless, and prevention is always better than cure. Avoiding a stress-related illness, for example a burnout, is economically much more advantageous than treating it when the disease is already there. “We see it as an investment for the future. This ensures a healthy relationship with their employees and will safeguard the productivity of their workforce.” Nescens Clinique De Genolier is a luxury Swiss clinic exclusively dedicated to preventive medicine and anti-aging programmes offering bespoke checkups for a host of international clients. The clinic employs experts with over 20 years’ experience in the field with a wide access to peers, colleagues and professionals through the Swiss Medical Network.

ENTREPRENEURS SKILLS AND TALENTS

BOOKS READ BY SUCCESSFUL PEOPLE Reading is a prominent habit in the daily life of most of the world’s greatest entrepreneurs; it takes a significant part of their interests, since reading is a source of inspiration and brainstorming. Here are five of the most valuable books to read selected by Bill Gates, Jeff Bezos and other inspiring businessmen:

1 2

“MADE IN AMERICA” BY SAM WALTON The book “Made in America’ “draws a road map for everyone who is interested and willing to enter the retail business and trade world; it presents the successful story of Sam Walton, the founder of Wal-Mart –one of the world’s largest retail stores. The book demonstrates Walton’s own struggle in an exciting and interesting way. Walton says: “I have always been driven to buck the system, to innovate, to take things beyond where they’ve been… I was never in anything for the short haul; I always wanted to build as fine a retailing organization as I could”. Thus, Walton shares his ideas and secrets openly and tells how he was confident about achieving his goals.

“PRESIDENT DIARIES” BY ALAN GREENBERG The book presents a unique philosophy for business administration. Greenberg, who has held prestigious positions in a number of major global companies, lists a range of ideas that are most inspiring, instructive and guiding. The book also provides an overview of the most motivational ideas and decision-making techniques in business administration at a high level of manners, and inspires people’s motivation to reach the desired success. “CREATED TO CONTINUE... SUCCESSFUL HABITS OF COMPANIES WITH VISIONS” BY JIM COLLINS & GERRY BORAS What distinguishes General Electric, 3M, Merck, Wal-Mart, Hewlett-Packard, Walt Disney and Philip Morris from their competitors? How did Procter & Gamble lead its rival Colgate and become the first company in its field? How did Motorola move from being a small battery repair company to a giant integrated circuit technology and mobile phone, while Zenith remained in the television manufacturing? – in addition to many other questions and answers by Jim Collins and Gerry Boras in their book, which presents the conclusion of their marketing and business research for eighteen exceptional and well-established companies in a smooth and interesting way. The book offers a sophisticated work program to establish companies that prosper in the long term.

“HOW ASIA WORKS?” BY JOE STUDWELL In his book, Studwell presents a two-decade research summery as a reporter in Asia and gives a comprehensive vision to those who are interested in the development of the dynamic countries of Asia. The book performs an extensive research of the economies of nine Asian countries – known as “the Asian Dragons” namely, Japan, South Korea, Taiwan, Indonesia, Malaysia, Thailand, Philippines, Vietnam and China, in a fashion that eliminates the Western misconceptions, and shows what really happened in Asia and why. It also explains the reasons that some countries progressed while others did not. “ZERO TO ONE... NOTES ON STARTUPS AND HOW TO BUILD THE FUTURE” BY PETER THIEL Thiel, who is the founder of PayPal and the first foreign investor in Facebook, confirms through his book that there is no limit for innovations. He differentiates between intellectual people who have inspiring ideas for this world and venture capitalists, and sets out the difference between the indefinite intellectuals, who value the classic ideas such as competition, and thinkers who will build the new monopolies. He also introduces a new technique for innovation which begins by learning how to ask questions that lead us to find value in unexpected places.

APPS. FOR BEST BUSINESS MANAGEMENT With the great technical progress, Small-to-Medium Enterprise (SME) management is becoming easier and often cheaper. Hence you have a range of applications that facilitate the management of your business. Apple World website offers the best business management applications on iOS:

SQUARE APPOINTMENT.. an appointment-scheduling software that allows your clients to set their own appointments online at any time, where you will receive a text message alert and your clients will receive an email reminder. Moreover, the application allows you to accept payments and send receipts, also the application allows you to request prepayments for scheduled appointments online, and view your staff work schedule.

WHEN I WORK STAFF SCHEDULING... an easy way to view your work schedule from anywhere at any time. You can also create, update and publish shifts, with email messages and alerts, monitor shifts, and review leave requests. This application enables employees to view their work schedule, clock in and out of shifts, trade shifts with coworkers and request time off.

INVENTORY NOW... This application helps you track your inventory easily with an overview screen that provides many options such as sorting, filtering and searching with ease. You can also use unit pricing, barcodes scanning, import and export data, product pictures, and other unique features

QUICKBOOKS ACCOUNTING... OThis application helps you manage your business expenses efficiently. You can also send and track invoices, view expenses, manage sales, review financial bank statements and other related matters.

RAKBUSINESS | 37

TECHNOLOGY

UAE’S INTERNET OF THINGS MARKET TO TOP USD35 BILLION BY 2019 EOH International and wasl Asset Management Group are leading UAE digital innovation with real-time visitor experiences, Internet of Things-connected fleets, and blockchain-backed leases, industry experts announced today. Showing the strong opportunities for digital innovation, the UAE’s Internet of Things market is set to grow at a CAGR of 28 percent to USD 35 billion by 2019, according to MicroMarket Monitor. The UAE government also recently launched the UAE Blockchain Strategy 38 | RAKBUSINESS

2021 to save AED 11 billion in costs. “The UAE is entering 2018 as the tipping point year for the Internet of Things, artificial intelligence, machine learning, and blockchain to go from theory to reality,” said Sameer Areff, Chief Operating Officer, SAP Middle East South. During the recent Innovation Summit Dubai, Iman Al Omrani, Vice President of Applied Intelligence at Expo 2020 Dubai, highlighted how data-driven insights applied through intelligent technologies will ensure an

TECHNOLOGY STUDIES

SAP OPTIMIZES VISITOR EXPERIENCES, WASTE MANAGEMENT WITH INTERNET OF THINGS, AND PAPERLESS END-OF-LEASE PROCESSES WITH BLOCKCHAIN

exceptional experience for its anticipated millions of visitors. SAP Innovation Awards, which celebrate SAP platform technology success, recognized EOH International and wasl Asset Management Group. Their innovative solutions, which run on the SAP Leonardo digital innovation system, were developed with the SAP Co-Innovation Lab in the UAE. EOH International won as a Next-Gen Innovator for Europe, Middle East, and Africa for its EnerClever Smart Waste Management solution. The end-to-end Internet of Things solution helps any city to effectively plan and execute real-time waste management with mobile applications and administrator dashboards to optimize efficiency and costs, and to improve customer services. wasl Asset Management Group’s pilot project “New Generation End-of-Lease Processes BlockChain Enabled” was named a Next-Gen Innovator finalist among thousands of global entries. In pursuit of providing paperless experience and happy communities in Dubai, the paperless end-of-lease processes leveraged SAP Blockchain technology and virtual reality tours. As a result, wasl Asset Management Group enhanced quality of work through effective analytics and inspection, sped up the end-of-lease process, reduced cost of refurbishment, and provided transparency of outsourced activities. “UAE organizations, led by Expo 2020 Dubai, EOH International, and wasl Asset Management Group, are at the global forefront of leveraging real-time digital platforms to enable new business models and support nationwide digital transformation,” added Sameer Areff. The SAP Innovation Summit Dubai, powered by SAP Leonardo, had sponsoring partners MDSap, ProCons, NTT Data, Soltius ME – Division of YASH Technologies, TYCONZ, and Vision Valley.

MORE THAN 500 MILLION INSTAGRAM USERS SHARE AN AVERAGE OF 95 MILLION PHOTOS AND VIDEOS PER DAY With more than 500 million users sharing an average of 95 million photos and videos per day, travel plans are continuously being made, shared and made again on Instagram. Today’s frequent travelers browse Instagram 28 days out of every month, searching for new ideas and new holiday destinations. Terry Kane, Head of Auto, Finance, Government, Telco and Travel – MENA, Facebook and Instagram, said: “Today, more and more travellers begin their journey on Instagram, looking for inspiration for their next adventure, next destination to visit or next restaurant to dine in. Viewing pictures, videos or stories on Instagram gives users a sense of wanting to be there and wanting to experience what they are viewing. “With so many people sharing their experiences on Instagram, it is easier now than ever to research trips before you depart to find new ideas and new destinations to explore that are off the beaten track, allowing you to create your own individual journey and experience.”

EFFECTIVELY REGULATING SLEEP DURING RAMADAN Research has found that 90% of individuals in the UAE are sleep deprived, with only 46.42% sleeping for seven hours per night. Studies have also found that one in four people residing in the UAE suffer from some form or symptom of sleep disorders. Medcare doctor, Dr. Hady Jerdak, Internal Medicine, Pulmonary Diseases and Sleep Medicine at Medcare Hospital stresses the importance of paying close attention to signs of chronic fatigue. Repeated sleep problems can be the body’s way of hinting at something more. Increased stress levels, mood swings, and anxiety are all ways your body might be trying to tell you it’s suffering from a sleep disorder. The opposite is also true, with sleeping problems sometimes leading to anxiety disorders. This month, Ramadan will have many people remaining awake at night and sleeping during the day. The sudden change of eating habits and timing, from day to night (fasting during daytime and eating at night) are accompanied by some physiological changes in the body. RAKBUSINESS | 39

SABIS® INTERNATIONAL SCHOOL-YAS ISLAND HOSTS MEGA TALENT AND CREATIVITY EVENT SABIS® hosted the highly-anticipated 2018 edition of SABIS® STARS. The event welcomed students from 28 SABIS® schools in Azerbaijan, Bahrain, Egypt, Germany, Jordan, Kurdistan-Iraq, K.S.A., Lebanon, Oman, Pakistan, and the U.A.E, for a two-day event that showcased their knowledge, talent, and critical thinking skills. SABIS® STARS is a biennial, regional contest in which students from SABIS® schools meet and compete in events that are designed to challenge them beyond academics, ignite their desire to investigate their passions, and showcase their talent and creativity. This year, over 500 students competed in 11 different categories including debate, photography, live art performances, singing, public speaking, creative writing, spelling, science projects, world issues, and advertising. The competition was fierce and the judges – prominent individuals from the local communities – were impressed by the standards of participants’ work, high spirits, and camaraderie that they witnessed at the event. w The event culminated in a closing ceremony in the presence of SABIS® Board members, partners, directors, diplomats, media representatives, and VIPs to announce the winners. In his closing ceremony speech, SABIS® Vice-President Mr. Victor Saad stated: “SABIS® STARS is carefully designed to maximize potential and secure the most meaningful engagement with the world and its concerns. The carefully selected topics are both varied and stimulating enabling our students to practice and display the widest range of skills.” For more information about SABIS® STARS 2018 visit their official Facebook page at facebook.com/SABISSTARS. For more information about schools in the SABIS® Network, visit sabis.net 40 | RAKBUSINESS

COROLLA 2018

CYLINDER

143

HORSE POWER

1270

KG WIEGHT

2000 CC

9.7

SEC. FROM 0 TO 100

TOYOTA COROLLA SCOOPS ‘BEST SMALL SEDAN’ AWARD AT 2018 MIDDLE EAST CAR OF THE YEAR (MECOTY) Adding a new feather in its cap, the 2018 Toyota Corolla has been recently honored with the recognition for the best car in the ‘Small Sedan’ category at the 2018 Middle East Car of the Year (MECOTY) awards, the biggest and most prestigious awards program for the regional automotive sector. The most successful production car model ever built was chosen by a judging panel comprised of 16 independent senior editors from leading automotive publications representing the Middle East and North Africa. The 12th generation Toyota Corolla emerged as the winner after impressing the judges on ten aspects that have been set as the selection criteria for the fifth edition of MECOTY. These included design and quality, exterior and interior, handling and drivability, safety and durability, performance and capability, technological innovation, emotional appeal and driver satisfaction, value for money (new purchase and resale), environmental performance, regional appeal, and comfort and practicality. Since its launch in Japan in 1966, more than 44 million units of Corolla have been sold globally to date to establish itself as the best-selling nameplate in the world. With its 16 manufacturing plants, Toyota currently produces 1.5 million Corolla cars each year to reach its customers in more than 150 different markets.

TECHNOLOGY COMPANIES

SAUDI GERMAN HOSPITAL TO ESTABLISH 100-BED HOSPITAL IN RAS AL KHAIMAH’S AL MARJAN ISLAND

AUDI ABU DHABI LAUNCH EXCLUSIVE OFFERS THIS RAMADAN In celebration of the Holy Month of Ramadan, Audi Abu Dhabi is offering a range a select new and used models. Under the promotion, Audi Abu Dhabi are offering customers an extended 6-year unlimited mileage warranty plus free 5-year service package on selected new Audi models for all orders placed during the month of Ramadan. The offer also includes free registration and insurance for the first year, and Audi Abu Dhabi will cover the VAT on all purchases, with customers paying nothing for the first 3 months*. In addition, Audi Abu Dhabi are giving customers the chance to receive up to AED 10,000 cash back on sales of all Audi Approved :plus pre-owned models with nothing to pay for 3 months*. The Audi Approved :plus showroom in Abu Dhabi is home to the largest selection of approved Audi’s in the UAE, providing customers the opportunity to purchase their perfect pre-owned vehicle. All Audi Approved :plus models come with a comprehensive 300+ multipoint check, plus 12-months warranty and 12-months roadside assistance, providing customers with complete peace of mind. The promotion is available now until the end of Ramadan at Audi showrooms in Abu Dhabi and Al Ain. *Deferred payment subject to bank approval. For more information and to book a test drive please visit http://www.audi-abudhabi.com or call 02 2054444 / 03 7131666.

The hospital will serve the residents and visitors to Al Marjan Island as well as the wider Ras Al Khaimah community by offering specialised services in a modern hospital led by expert healthcare professionals. Establishing the hospital is in line with the Saudi German Hospital Group’s mission to fulfil the healthcare needs of the public and to expand its presence across the UAE, and to support the country’s medical tourism sector. Eng Sobhi A Batterjee, President of Saudi German Hospital Group, said: “With the new hospital in Al Marjan Island, we aim to provide excellent and integrated healthcare services that will meet the needs of the people. It will serve the residents and visitors to Al Marjan Island and the wider community.” The Saudi German Hospital in Al Marjan Island is scheduled to be operational in early-2019. Eng. Abdullah Al Abdooli, CEO of Al Marjan Island, said: “We are pleased to welcome the Saudi German Group to Al Marjan Island, which will further enrich the range of services that we are providing to residents and visitors from around the world. With the increase in number of residents and visitors, it is important that we offer them truly world-class healthcare services in close proximity. ....”

AL KASIR GROUP LAUNCHES DIAMOND TRADING ON BLOCKCHAIN Members of the Private Office of H.H. Sheikh Ahmad Bin Obaid Al Maktoum L.L.C., AL KASIR JEWELLERY TRADING L.L.C. and AL KASIR PORTAL L.L.C. announced the launch of Diamond Trading on Blockchain with three Diamond-backed Blockchain-Assets. For the first time, a set of three Blockchain-Assets, backed by Indian Diamond & Gemological Institute (IDGI) certified real Diamonds were introduced. Backed by a real-world asset, AL MAS, AL HAQEEK & AL FALAH are secure, convenient and easier to store and translate value due to a base measure around which their value revolves. This asset-backed feature differentiates Blockchain-Assets from Cryptocurrencies. Diamonds are an ideal backing for Blockchain-Assets. They are rare, take a billion years to develop, have several millennia of history as a recognized store of value and can be easily stored and transported. The Blockchain-Assets can be exchanged on the Company In-House Exchange at a later stage with the flexibility of interchangeability of assets and barter-exchange against diamonds, gemstones, oud, bakhoor and attar. The company is offering storage facility for Blockchain-Assets for a minimum period of 25 years. RAKBUSINESS | 41

TOURISM

AL MARJAN ISLAND... ATTRACTS LUXURY HOTEL BRANDS TO THE HOSPITALITY MARKET IN RAK According to reports, over 15,000 hotel units are required in the next seven years to serve the growth in tourist arrivals to Ras Al Khaimah, which recorded an increase of 19 percent in 2017. Tourist arrivals are set to grow from 1 million this year to over 2.9 million annually by 2025, according to the Ras Al Khaimah Tourism Development Authority, driving the demand for hotels and resorts. About 7,000 new hotel rooms are set to be added, mostly in the 5-star beach resort category, in the next three years. Of these, nearly 71 per cent will be delivered 42 | RAKBUSINESS

on Al Marjan Island, fast-growing tourism hub, In all, the master-planned community will feature 7.8 kilometres of beaches, 23 kilometres of waterfront, 6,500 planned residential units, 8,000 planned hotel rooms, 400-room wellness retreats and 600 holiday villas. Al Marjan Island as a vibrant destination offering exceptional hotel choices. which has already attracted international investors and hotel brands and signed an agreements to launch a number of luxury brands hotels and resorts.

ROVE HOTELS EXPANDS PRESENCE TO RAK

THE FIRST EXPANSION OF THE ADDRESS BRAND TO RAK Mohamed Alabbar, Chairman of Emaar Properties, announced the launch of the company’s first hotel and residences project in Ras Al Khaimah, at the Arabian Hospitality Investment Conference 2018. Located in the Views island of Al Marjan Island, a four-island mega-development, Address Al Marjan Island hotel and residences will be managed by Emaar Hospitality Group’s premium lifestyle brand, Address Hotels + Resorts. This marks the first expansion of the Address brand to Ras Al Khaimah. Address Al Marjan Island will be a resort-style development that draws on its exceptional natural location, directly by the Arabian Sea. The hotel will have 249 rooms, including suites, whileAddress Residences Al Marjan Island will comprise 234 high-end apartments. As part of Views, the largest of the four islands that make up Al Marjan Island, residents will be in close proximity to the ubran core of the master-planned community as well as the town centre. With direct access to over 600 metres of beachfront, residents and guests will have uninterrupted views of the sea in addition to a range of lifestyle amenities. Address Al Marjan Island will feature several unique restaurant concepts including The Restaurant at Address for all-day dining, meeting and banquet space, a business lounge, a modern fitness centre, spa, pool and other wellness amenities. More details on the hotel will be announced in due course. Residents of the branded residences can access the hotel amenities.

Rove Hotels, the contemporary midscale hotel brand and a joint venture between Emaar Properties and Meraas, announced its expansion to Ras Al Khaimah, with the first Rove hotel in the emirate in Al Marjan Island. A spectacular four-island development, Al Marjan Island is at the heart of Ras Al Khaimah”s transformational growth. Extending 4.5 kilometres into the sea and covering an area of 2.7 square kilometers, the integrated lifestyle community is one of the thriving residential and investment destinations that welcomes visitors from across the world. Rove Al Marjan Island will be the first contemporary midscale hotel in the mega-development and will serve the value-conscious new generation of leisure travellers, who seek culturally inspired settings and stay connected through technology. Rove Al Marjan Island will have 450 rooms with comfortable mattresses, 48-inch TV with a smart media hub for super-charged entertainment, free high-speed Wi-Fi, power showers in ultramodern bathrooms, interconnecting rooms for families, a unique beach club concept, 24-hour boutique convenience store, outdoor pool, sundecks to relax, a 24-hour gym, a 24-hour self-service laundromat, luggage store rooms, safety deposit boxes, sofa beds for extra guests, mini-fridge and more. Rove Al Marjan Island will feature a trove of artworks that take inspiration from the natural setting of Al Marjan Island.

RAKBUSINESS | 43

RAS AL KHAIMAH TO GET TALLEST INDOOR DROP TOWER IN THE MIDDLE EAST Landmark Leisure, part of the Landmark Group, one of the UAE’s leading multi-faceted leisure and entertainment firms, will open Tridom, the latest addition to its leisure portfolio in Manar Mall, Ras Al Khaimah during Ramadan. The move marks the first indoor adventure park of its kind in the Northern Emirates and will be a major draw for visitors to the newly expanded Manar Mall. Silvio Liedtke, COO for Landmark Leisure, said: “Tridom will quite literally become a unique entertainment experience in the Northern Emirates - for sure it will ramp up the fun factor in Ras Al Khaimah. Tridom is a world of fun and thrills, a complete family experience that will guarantee laughter and excitement. “It is the latest addition to our portfolio which includes Fun City, Fun Ville, Fun Works, and Fun Box and continues our commitment to constantly deliver quality entertainment facilities with great value at its core,” added Liedtke. The new attractions Tridom will provide at Manar Mall include; -- The ‘Sky Tower Ride’ the tallest in the Middle East, where kids can enjoy a series of bounces and drop.

LANDMARK LEISURE TO LAUNCH TRIDOM INDOOR ENTERTAINMENT CENTRE FOR KIDS AT AL HAMRA’S MANAR MALL IN RAK FEATURING 130FT DROP TOWER THE TALLEST IN THE ME AS WELL AS THE LARGEST INDOOR PLAY AREA IN THE UAE

44 | RAKBUSINESS

-- An extensive playground – the largest in the UAE. -- A Ferris Wheel. -- Super Spin’ which twirls riders in midair through 360 degrees -- Bumper Cars. -- The ‘Air Racer’ which will give everyone a feeling of really flying. -- The ‘Disk’O Coaster’, will have people spinning and rocking, but no rolling.

MANAR MALL

600.000

164 $

100

MILLION

HIGHEST DROP TOWER

130 FEET

THE DEPARTMENT OF ANTIQUITIES AND MUSEUMS ... ENTRENCHES THE HISTORY OF RAS AL KHAIMAH EMIRATE The Department of Antiquities and Museums was established in Ras Al Khaimah by the Emiri Decree No. 6 of 1978, under the patronage of the Late Sheikh Saqr Bin Mohammed Al Qasimi, then the Ruler, of the Emirate of Ras Al Khaimah. The Late Sheikh Sultan bin Saqr Al Qasimi, then deputy governor, was appointed Head of the Department of Antiquities and Museums, the headquarters of which was the Ras Al Khaimah National Museum. Since its establishment, the Department carried out many important tasks, such as surveying and archaeological excavations, in cooperation with archaeological exploration missions, preserving and maintaining ancient archaeological sites, preservation and display of antiquities in the National Museum for the public, in addition to conducting and documenting archaeological studies and research, informing the various segments and categories of society, about the culture of the Emirate of Ras Al Khaimah and its ancient past, by organizing exhibitions, heritage events, seminars and history lectures.

TOURISM ENTERTAINMENT

RAMADAN AT THE COVE ROTANA RESORT Break the fast and delight in an irresistible Iftar and celebrate the real meaning of this holy month with your beloved ones. Indulge in a generous buffet of Middle Eastern and International delicacies with live cooking stations, Arabic desserts and fresh juices. When: Till the end of Ramadan Price: Iftar â&#x20AC;&#x201C; AED 155, Suhour â&#x20AC;&#x201C; AED 99* per person Book: 07 2066292 or fb.cove@rotana.com

AL MAEDA.. THE NEWEST LEBANESE REST. Entranced by the taste, color and smell of the Levant. Gather family and friends to sample delicious dishes including the smoked lamb Frikih and Fish Saiyadiah whilst enjoying an unforgettable dining experience with unobstructed views to the magnificent. Price: AAED 165 /person. Book: 072288844

After His Highness Sheikh Saud Bin Saqr Al Qasimi, may Allah preserve him, became the ruler of the Emirate of Ras Al Khaimah, and under the guidance of His Highness, the organizational structure of the Department of Antiquities and Museums was developed and some departments and specialized units were added. The strategic frameworks of the Department were developed and the vision, mission, objectives and values of the Department were formulated to align with the government strategy. RAS AL KHAIMAH FORT The Fort dates back to the 19th century during the British occupation. The image of the Fort watchtower appears on maps drawn by British soldiers in 1809 during the invasion of RAK. In 1948, the Late Sheikh Saqr bin Mohamed Al Qasimi, the then ruler of the country, took over the Fort as the seat of the ruling family and an Emiri Court. In 1964, the Fort became the headquarters of the Ras Al Khaimah Police Department, and later became a central prison. In 1984, the Late Sheikh Saqr Bin Mohamed Al Qasimi ordered the Fort to be the headquarters of the National Museum of Ras Al Khaimah. The museum was officially opened in 1987.

CELEBRATE EID HOLIDAYS Celebrate EID Holidays and enjoy an exceptional Ultra All-Inclusive experience with family and friends and get 20 % OFF for 3 nights min stay from 14th -17th of June 2018. Offer is valid when booked directly via Rixos Hotels website. When: 14th-17 of june. Price: 20% off for 3 nights Book: reservation.rak@rixos.com or 07 202 0000

PODIUM... BUFFET WITH LIVE GRILL STATION Enjoy scrumptious buffet of Ramadan favorites with live grill station, a lavish dessert spread and Ramadan drinks all for AED 92 per person. For groups of 30 persons or more an exclusive Iftar experience with several buffet options to choose from. Price: AED starting from AED 80 per person.. Book: 07 226 0666

FOR FIFA WORLD CUP FANS DoubleTree by Hilton Resort & Spa Marjan Island is inviting you to cheer as loud as you can as you soak in the outdoor Marjan Pool and catch all the action on big screens with drinks of your choice and floating shisha. Scratch-and-win offers, as well as amazing promotions on beverages will create an electrifying atmosphere! . Book: +97172030000

CYPRUS...THE TRANQUIL SIDE OF A LUXURY BEACH By: Zina Abboud

ITS SOFT GOLDEN SAND, CLEAR WATER, AND IDEAL LOCATION THAT IS PROTECTED FROM STRONG WIND. THE ROAD TO THIS ENCHANTING SITE GOES THROUGH BEAUTIFUL GREEN SPACES FULL OF PINE TREES AND HAS A CAPTIVATING VIEW FROM ABOVE.

The spirit seems to leap with glee, experiencing a deep euphoria as one wanders around Cyprus. The walls there whisper a soft perfume, and steps wander to the music of beauty, welcomed by roses and the gentle breeze from the beach. There, the spirit wanders in tranquility, as the distance takes you into tales and myths. Cyprus is the third biggest island in the eastern part of the Mediterranean. As a fullfledged member of the European Union, Cyprus is the nearest European destination for the Gulf Cooperation Council states. Due to its deep-rooted and ancient history and heritage, the island offers to travelers from around the world an exceptional opportunity to experience a variety of out-

door activities, captivating natural destinations, and relaxing areas full of quiet and tranquility, alongside cultural exploration tours which cover the entire island and are conducted around the year. Cyprus is the ideal haven for relaxation and spending long weekends on its beaches which have earned the Blue Flag certification, a certification recognized worldwide by the Foundation for Environmental Education (FEE), as the trip to Cyprus takes around 3-4 hours by plane. The island is famous for its clear water thanks to proper environmental management, and offers many health and rescue services, in addition to facilitating suitable services for arrivals with special needs.

In addition, Cyprus constantly wins top awards and earns the highest rankings for the quality and safety of water, with its beaches maintaining their no.1 rank as cleanest swimming water in all Europe year after year at a fixed 100% rate. As part of its efforts to provide an unforgettable tourist experience for its guests, the Cyprus Tourism Organization (CTO), which is in charge of organizing tourist activities and promotion campaigns in Cyprus, is committed to encouraging and supporting tourist facilities to provide suitable facilitations and facilities for tourists with special needs. The island has 47 beaches, 26 of which offer facilities that are perfectly suitable for people with special needs, while the other 21 offer facilities that are partly suitable. Top five captivating azure beaches in Cyprus: 46 | RAKBUSINESS

TOURISM MY DESTINATION

NISSI BEACH, AYIA NAPA: Nissi Beach extends for around 600 meters on Ayia Napa beach and is a vibrant and active destination. The gulf of golden sands attracts many visitors and tourists and has calm shallow waters and a coast pulsing with music, parties, and drinks, making it an ideal destination for those who love such an atmosphere. The beach has many destinations that allow visitors to partake in various water sports, such as diving and so on, in addition to great places to stay, restaurants, and kiosks. FIG TREE BAY, PROTARAS: The Protaras beach, also known as Gig Tree bay, became very popular over the years due to its soft, golden sand and clear water. It was named after a single isolated fig tree that dates back to the 17th century.

KONNOS BAY, AYIA NAPA: The bay, which is one of most beautiful and enchanting sites in the island and part of its captivating paradise, extends for 200 meters, and has a remarkable location that is 4 km away from the famous Ayia Napa Resort. The Bay is famous for MAKRONISSOS BEACH, AYIA NAPA: This beach includes a captivating trio of enchanting bays extending in different directions: west, southwest, and northeast. The bat extending southwest is located in a special reserve affiliated with the Natura 2000 network which looks after natural European sites with significant heritage value. Tourists can visit the Makronissos archaeological site located in the beach area, or walk eastwards towards Vathia Gonia Beach, or west to Agia Thekla Beach.

LARA BAY, PAPHOS: This bay is one of the most remote bays in Cyprus, located in the Akamas peninsula which is a nature preserve, and Lara beach is famous for its green sea turtles that nest there. The beach, which extends across a large area in a horseshoe shape, is marked by its soft, golden sand and the captivating natural views that surround it, making it an area of enchanting beauty near clear water. Due to its remote location, going there requires transport, and with no nearby services facilities, this bay is an ideal haven for those who like isolation and quiet. The number of visitors arriving in Cyprus increased during the first quarter of 2018, following the record numbers achieved in 12 months in 2017. This increase greatly bolsters the islandâ&#x20AC;&#x2122;s position as the ideal and leading tourist destination in the area. RAKBUSINESS | 47