RAK Business Magazine, March, April 2018 by New Generation Media

‫مجلـــــة أعمـــــال رأس اخليمــة‬

PUBLISHED BY RAK DED ISSUE (2) MARCH-APRIL 2018

DONT SAY

I WISH I HAD TAKEN OUT INSURANCE FOR THAT ISLAND

ALMARJAN

AN ATTRACTIVE OPPORTUNITIES

ARC

A LEADING GLASS MANUFACTURING COMPANY IN RAK

HOURS

IN RAS AL KHAIMAH

UNLEASH THE ENTREPRENEUR INSIDE YOU

SPECTACULAR SERVICES FOR S TA RT U P S MOHAMMED ESMAEEL HASAN AL AWADHI

ACHIEVING GOALS WITH PASSION AND DETERMINATION

EDITORIAL A CREATIVE NATION … IS A LIVELY NATION

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 Badr Helmy Hafsa Hafeez Maher SafyeldiN

Contacts and Advertising

050 899 5669

+971 7 222 9995 info@ngmedia.ae

During February, UAE witnessed two important events, the ‘Innovation Month’ and ‘World Government Summit’, which evidences the country’s strategy in its endeavor to build the future, and consolidate its position as a major player in an international arena, full of changes and challenges, in which initiator and innovator only survive. The organizing of the ‘Month of Innovation’ contribution and support of ministries, government institutions and entities, within the efforts to promote and develop smart government services, has become a fundamental requisite to achieve institutional leadership. These efforts coincide with the introduction of blockchain technologies, large open data and other modern technologies in today’s world, and will witness more development in the future. Inspired by the ‘Month of Innovation’ event and the distinctive activities of the Department of Economic Development, in partnership with ‘RAK Incubator and Accelerator’ and the ‘Armenian Business Support Association’, the Seaside Startup Summit was organized to support the innovative projects and ideas, and to refine the talents of distinguished entrepreneurs. Over 800 applications were submitted by entrepreneurs to the Summit, and after careful examination of the applications, the Evaluation Committee selected the top 60 innovative projects, to avail them with opportunities to qualify for winning the financial support awards presented during the Summit. We were pleased to participate in the ‘World Government Summit’, which included global nature and future-oriented discussions and dialogues, with renowned global leaders such as Schwab, Lagarde and the Prime Minister of India Modi. UAE provided an advanced model in the support of humanitarian efforts, by honoring the best minister in the world for his contributions to his country, in addition to offering other world-class competitiveness awards to winners from different continents of the world. His Excellency Mr. Mohammed Al Gergawi, UAE Minister of the Future, pointed that the acceleration of changes and developments over the next decade, will equalize the developments witnessed during the past 3000 years, as 47% of the current jobs will disappear. Data is ‘the oil of the future’; and what will be invested globally in artificial intelligence will outweigh what was invested in oil drilling, especially that the addition of artificial intelligence by 2030 will be more than $15 trillion, which is ten times the industry of oil. Companies in the future are expected to be stronger, due to close knowledge and dealing with the public more than governments; human life as well is expected to increase by five years each decade. Tremendous developments are expected in a short duration; if a nation wants to gain prominence and take lead in the future, it must adopt appropriate systems and tools to face the challenges of the future. UAE deserves the stance it acquired, with the efforts of its dedicated leaders; and the determination of its inspired youth, led by an energetic government equipped with modern tools.

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

Dr. Abdulrahman Alshayeb Al Naqbi DED Director-General

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

AL MARJAN ISLAND OFFERS ATTRACTIVE INVESTMENT OPPORTUNITIES

“I WISH I HAD TAKEN OUT INSURANCE FOR THAT”

Al Marjan Island is a vibrant tourism and lifestyle destination and hub.

ACHIEVING GOALS WITH PASSION AND DETERMINATION

22 RAK INCUBATOR OFFERS SPECTACULAR SERVICES FOR STARTUPS

Mr. Mohammed Esmaeel Hasan Al Awadhi... An inspiring business experience for youth.

COLUMNS 35 5 BEST SELLER BOOKS. 36 5 BAD HABITS TO AVOID. 41 4 APPS TO ORGANIZE YOUR TIME. 49 5 HOTELS & RESORTS OFFERS IN RAK.

More than one million and 900 thousand bids. 25 thousand items were sold with the participation of 1.3 million bidders from 226 countries.

RAK Incubator ‘TECHTOWN RAK’ ... A powerful platform for young entrepreneurs.

‘EMIRATES AUCTION’ STRENGTHENS CONFIDENCE IN SMART AUCTIONS 22

Insurance is a priority! In case of disaster, the insurance industry provides necessary coverage.

8T an he d e d i man t f i 25 ca velo s ro ufac Pr ti p m le i tu o o 28 C pos duc n. ent n ac ring an hie in o iti tiv d d 34 por mm on in ity ec ving ust Un ta e a ia on s le nc rcia GCC nd om us l se de as e t l c t h ic ain cto th o co mo oun mo di ab r e i m rt t g ve le nt m ga rie rap rs g s hi er er i. e cc pr ci en al and om b eu a r i nk its ns s. im id ey ou !

ARC... A LEADING COMPANY IN GLASS MANUFACTURING IN RAK Five factories based in France, United States, China, UAE and Russia.

46 A NEW GUINNESS WORLD RECORD FOR RAK

Jebel Jais Fligh ‘The World’s Longest Zipline’ turns RAK into an adventure destination.

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

UAE WITNESSES AN ADVANCED STAGE OF DEVELOPMENT AND GROWTH AT THE GOVERNMENTAL LEVEL H is Highness Sheikh Saud bin Saqr Al Qassimi, Sup reme Council Member and Ruler of Ras Al Khaimah, c onfirmed that the UAE has witnessed a new stage of development, espically at the governmental level, which enabled the state to occupy an eminent status at the international level; thanks to the sagacious vision of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of UAE. T his came during the meeting of HH Sheikh Saud bin Saqr with the directors of RAK local departments at his p alace in Saqr Bin Mohammed city. His Highness exp ressed his satisfaction with the performance of RAK 6 | RAKBUSINESS

government departments, hoping that the year 2018 will m ark a new era of development and progress, for the UAE in general and RAK in particular. H e called on departments directors, to exert all efforts to achieve the vision of the emirate, and to stay away from routine and procrastination; stressing the importance of speeding up government procedures, applying best practices. H is Highness, also underlined the importance of enh ancing the performance of the government departm ents, and strengthening coordination with federal institutions and entities in RAK, and working in colllaboration as one team.

ECONOMIC PANORAMA NEWS

THE BIGGEST ADVERTISING BOARD IN THE WORLD The ‘biggest advertising board in the world’ is the latest addition to the Guinness world record for Ras Al Khaimah. U p to 1,563 companies have participated in the making of the 1,000 sqm billboard, a ccording to Dr Abdulrahman Al Shayeb Al Naqbi, director-general of the RAK economic development department. “The biggest wad board in the world is part of a series of initiatives of the department t hat are aimed to promote business and c ommercial activities, and boost partnership with the private sector.” T he inauguration ceremony saw the prese nce of Sheikh Mohammed bin Kayed Al Qasimi, chairman of the department, along with senior officials and representatives of the Guinness World record. “The board has been developed in collaboration with Skyhigh Company, and directors of companies and shops in the emirate. All participant companies had a chance to display their products and services,” said Dr. Naqbi.

R ecently, the emirate had received the G uinness world record for the longest zipline in the world, extended over the Jebel Jais, the highest peak in the country. Dr Ahmed Salem, a businessman, said that

Ras Al Khaimah is coming up with innovative schemes and initiatives that do boost its position in the global spectrum. “The RAK government spares no effort to turn into a leading business hub around the globe.”

RAKEZ BOOSTS TIES WITH INDIA RAK DED IMPLEMENTS ACCRUAL ACCOUNTING BASIS PROGRAM The Government of Ras Al Khaimah is seeking to improve their Financial’s systems according to the latest International Accounting Standards to keep up the Country aline with the International Innovations. This could not happen unless the full support from HH Sheikh Saud bin Saqr Al Qassimi, Supreme Council Member and Ruler of Ras Al Khaimah, and The Crown Prince HH Sheikh Mohamed Bin Saud in pursuing sustainable Development and increase the competitive level of Ras Al Khaimah to put the City in the position it deserved. Dr. abdulrahman Al Shayeb- GM of DED, Mr. Yossif Ali Mohamed the GM of DOF and Eng. Ahmed Al Sayah - GM of EGA, all of them participated in this successful project and we can’t ignore their efforts.

A bid to strengthen ties with overseas clients, Ras Al K haimah Economic Zone (RAKEZ) has launched its new office in India at the strategically important Bandra Kurla Complex in Mumbai. T he opening of the office, which was witnessed by His H ighness Sheikh Ahmed bin Saqr Al Qasimi, RAKEZ Chairman, HE Mohamed Saleh Al Teneiji, Consul General, Consulate General of the UAE in Mumbai, and VIP government representatives and senior industry leaders, reflects RAKEZ’s extremely important and growing role as a leading investment destination for Indian companies. Nearly 3,000 Indian firms have already chosen RAKEZ because of its cost-effective environment, simplified processes, superior logistics and global connectivity. RAKBUSINESS | 7

ECONOMIC PANORAMA NEWS

SAUD BIN SAQR OPENS THE SEASIDE STARTUPS SUMMIT 2018 IN RAK His Highness Sheikh Saud bin Saqr Al Qassimi, Supreme Council Member and Ruler o f Ras Al Khaimah, inaugurated the Seaside Startups Summit 2018 was held for the first time in the UAE and was organized by Ras Al Khaimah Incubation and Accelerator, Startup Armenia and Young Arab Leaders in Dubai. The summit was supported by government organizations such as (RAKIZ) and (RAKDID). Seaside Startup Summit is a non-formal startup event organized in the form of a tent camp. During the Summit, startups, entrepreneurs, investors, mentors, lecturers and business ex perts shared a common mode of life and exchange their knowledge. The event included brand battles, workshops, networking sessions with international mentors and industry experts. The startups took part in battles based on their stage of development and field of operations. Also, they got a chance to pitch to the investors and get on place investments during the CampFire Pitch. His Highness started his camp tour from familiarizing with walking around and observing the territory of the Summit. The organizers of the event introduced His Highness to the Life of the Seaside Startup Summit. Moreover, he got accounted with the projects that were introduced by young entrepreneurs. After, the official part of the ceremony started during which three memorandums of understanding were signed between different organizations and government bodies. From the Armenian side, Vahan Martirosyan, the Minister of Transport, Communication, and Information Technologies conducted a speech which addressed the importance of joint efforts to contribute the prosperity of Global Startup Ecosystem. At the end, His Highness burned the Innovation Fire. The summit hosted 400-500 participants during the five days; with around 1200 guests. The number of participating startups reached to 60. The predetermined prize fund is $44,000. Local, regional and international entrepreneurs and startups were welcome to join the largest outdoor startup event in UAE.

THE SUMMIT IN NUMBERS

500

PARTICIPANTS

1200 GUESTS

STARTUPS

COUNTRIES

WINNERS

44000

USD$ PRIZE FUND

On the sidelines of the summit, a number of government initiatives in support of innovation were launched, include: • RAK DED launched a robot that measures the rate of the customers’ happiness and facilitate the procedures of customers. • His Excellency Dr. Thani bin Ahmed Al-Zeyoudi, Minister of Climate Change and Environment, announced the launch of the “echo millennium” initiative. • Launched the challenge of looking ahead for green cities and green jobs in cooperation with RAK Incubator and Accelerator. AGREEMENTS • RAK DED signed a Memorandum of Understanding (MoU) with the Armenian National Enterprise for Small and Medium Enterprises (SME) to develop a joint coopera-

tion agreement between companies in the UAE and the Republic of Armenia, especially in the field of innovation. RAK Incubation And Accelerator has signed several memorandums of understanding, including: •MoU with the Ministry of Climate Change and Environment. • MoU in support of emerging companies and entrepreneurs in sustainability and innovation. • MoU with Mohammed bin Rashid Innovation Fund. • MoU to support innovative projects. • A Memorandum of Understanding with the Saud Bin Saqr Establishment For Youth Enterprises Development, under which joint events and supporting innovative and technological youth projects will be organized. RAKBUSINESS | 9

ECONOMIC PANORAMA NEWS

RAK RATE OF SECURITY AND STABILITY RISES TO 99.7% IN 2017 Maj. Gen. Ali Abdullah bin Alwan, General Manager of Ras Al Khaimah Police, said that the percentage of safety in the Emirate increased during the last year 2017 to reach 99.7% compared to 2016, which reached about 95.2%, achieving the best results in the country, Troubling 100,000 people, achieving positive results for the fourth consecutive year. He explained that the leadership has initiatives and projects measured by indicators on the ground in various fields of security, traffic, strategy and community. He stressed that the indicators achieved last year were the result of the relentless efforts exerted by the departments and organizational units of RAK Police. And enhanced operations and services developed in achieving the satisfactory ratio. The technical security “protection” system has had a direct impact on raising the safety sense in the Emirate by installing more than 110,000 security surveillance cameras in all facilities in different regions of the Emirate. The new “Operations Room”, equipped with 24 platforms, was established to receive all communications and monitor road traffic in the Emirate in a live and direct manner, and the early warning system related to banks, gold shops and commercial centers. Which contributed in total to raise that percentage, and achieve the pilot results.

‘RAK MUNICIPALITY’ LAUNCHES MAKANI SYSTEM Ras Al Khaimah Municipality Department has announced the launching of the first phase of “Makani” project, where Eng. Abdullah Samhan Al Nuaimi, Executive Manager of Technical Affairs Sector has inaugurated the launching of the first plate in the Headquarters of the department. Twenty thousand buildings are planned to be addressed starting this month and during 4 months across 16 cities. This project has contributed a lot to the cooperation between RAK Municipality and Dubai Municipality, where one of its important features the ease and accuracy of locating any building through its specific application. Makani is a supportive system to the current Location-Based Systems, as it helps detect any location easier, faster and more accurate than ever. 10 | RAKBUSINESS

THE “PINK CARAVAN” RECEIVES 640 WOMEN IN RAS AL KHAIMAH The Pink Caravan received 640 women during the events organized by the Department of Economic Development in Ras Al Khaimah on the Corniche. which was launched with Sheikh Mohammed bin Kayed Al Qasimi, the head of the department, and attended by 26 owners of tomorrow’s licenses for citizens to support them in carrying out various projects. The exhibition is the first of the incentive and support activities offered by the department to the owners of licenses for tomorrow, and is part of the operational plans of the Department of Business Development in the revolving, which aims to highlight the capabilities of the owners of these licenses and work to

develop their work. Among the activities of the exhibition was hosting the pink convoy to raise the awareness of females and males and to conduct a periodic and early examination of breast cancer, where the convoy received 640 women, in addition to organizing a number of activities and examinations and awareness lectures addressed to participants in the exhibition halls. The exhibition witnessed the presence of a clinic for teeth and eyes equipped with various medical staff and devices in the completion of the examinations of visitors, where the number of people who received medical examinations in the dental clinic more than 400 people.

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Andrew Smith, RaK insurance CEO

ECONOMIC PANORAMA SPOTLIGHT

ANDREW SMITH RAK INSURANCE CHIEF EXECUTIVE OFFICER

DON’T SAY...

“I WISH I HAD TAKEN OUT INSURANCE FOR THAT” Since its establishment in 1974, RAK Insurance Co. has grown significantly from a small local insurance company into a true regional insurance leader. The Company’s primary focus is on innovative product development, technological advancement, employees’ learning, development and building strong partnerships with dynamic companies as a preferred supplier of insurance products and services.

By: Khawla Ibrahim

RAK Insurance has built a solid risk framework, and has been ly look for value for money. Insurance remains a critical part a leader in establishing new and robust methods of analysing of lives and will continue to play an important role to both risk that allows the Company to maintain its position and its commercial entities and individuals”. And he provided the partners’ confidence, across all market sectors it serves. To following answers: shed light on the company and its services, RAK Business Magazine interviewed RAK insurance Co. CEO, Mr. Andrew Smith. WHow do we educate population on insurance, and the im“Insurance continues to be an integral aspect of everyday portance of having insurance? life; both commercially and “Education is key to advancing personally. Over the past numthe understanding and imporber of years, insurance has tance of insurance. Often you SOME ORGANISATIONS AND INDIsignificantly impacted our will hear “I wish I had taken VIDUALS BELIEVE THAT INSURlives, meanwhile the fundaout insurance for that…”. ToANCE IS NOT A PRIORITY, BUT IN mental need for ‘protection’ day in UAE mandatory insurCASE OF DISASTER, THE INSURremains”, Mr. Andrew Stated. ance applies to vehicles and ANCE INDUSTRY PROVIDES THE “Insurance continues to proin some emirates to medical, NECESSARY COVERAGE. vide peace of mind, however; therefore the compliance of some institutions and peothe insured is high. Howevple believe that insurance is er; this is driven by the “must not a priority. When disaster strikes it’s often the insurance have” approach rather than the “need to have” approach. industry that provides the necessary ability to either rebuild Insurance remains as important and relevant today as it ever or replace”. Andrew added: “How we insure and what we in- has”, Andrew added. “In my opinion the world in which we sure, is continually changing and adapting to the needs of the live today requires greater acceptance and understanding of insured. Insurance has to remain relevant; and often has to the concept of insurance. The insurance industry needs to meet the needs of the insured. We see increasing use of tech- find new ways of approaching the market and finding innovanology to deliver insurance solutions while clients continual- tive solutions that are relevant to today’s market”. RAKBUSINESS | 13

What does RAK Insurance offer that other insurance companies do not? RAK Insurance Co., is one of more than 60 local and international firms operating in UAE. It is fundamental to our growth that we can differentiate our proposition. Our building blocks are based on customer, technology, people and price. RAK Insurance has invested significantly to ensure our technology is leading the market; whether that be our hardware or the applications that provide internal and external services. One of our key differentiators is our mobile App. we have developed an innovative procedure from quotation to payment…. All at the click of a virtual button. Documents are sent directly to the client, while payment is collected… and from the comfort of their home, office… in fact from anywhere. Currently we offer both motor and medical insurance via our mobile App. with other products being added in 2018. With increasingly big insurance companies, how does RAK insurance company stay competitive? RAK Insurance continues to remain competitive in an overcrowded insurance sector. Customer experience is at the core of our business, while offering a digital experience, we also offer clients the opportunity to speak to one of our customer services advisors. At present we operate from 6:00am to 11:00pm, 7 days a week and shortly moving to 24\7. The other area we are focused on to differentiate our competitive position is digital. We are seeing a move across many industry sectors towards a more digitalized proposition. Not only does this provide a more efficient service for the client, we can benefit from improved efficiencies. Product and service innovation continues to challenge the industry. RAK Insurance has a dedicated and experienced team who look at new and exciting products that can further enhance our proposition and offer our clients a wider choice. As the market moves and changes, RAK Insurance is ensuring we can help provide the right solution at the right price. In a world that is increasingly becoming high tech, how does RAK Insurance use technology in the interests of clients and staff? RAK Insurance places technology at the forefront of its business; whether with the client or internally. We have invested heavily in recent years to ensure we are able to meet the demands of the market – we are continually developing and looking at ways of using technology - over the past two years we have introduced an enterprise wide insurance application system; 14 | RAKBUSINESS

from HR to finance, underwriting, claims and reinsurance – our integrated insurance application has enabled RAK insurance to meet the needs of an increasingly technology savvy market. Our remote access allows RAK insurance to be agile and mobile as the needs of both clients and staff continue to evolve. RAK Insurance has an excellent reputation in the market today, particularly in motor insurance. What else does RAK Insurance have in store? RAK Insurance is committed to develop and promote more and more services online and via our mobile application. We currently offer both motor a medical online solutions with a straight through process; from initial enquiry to full payment – all at the touch of a button. During 2018 further products will be added to our online proposition and mobile application – these will include a new travel and home policy. We are continuing to develop mobile app services that will enhance the client experience.

RAK INSURANCE CO. IS COMMITTED TO BE THE LEADER IN INSURANCE ONLINE AND MOBILE APPS SERVICES IN UAE MARKET

ECONOMIC PANORAMA SPOTLIGHT

ANDREW SMITH RAK INSURANCE CEO An experienced head of business with significant experience in conventional and Islamic insurance across the UK and Middle East. An insightful strategic thinker with a proven track record of developing business plans and building sustainable businesses across the Middle East. Andrew has developed, maintained and enhanced long term business relationships with Board level and regional regulatory bodies as well as a proven implementer of strategic business plans.

RAK INSURANCE IS LISTED ON ABU DHABI SECURITIES EXCHANGE AND IS A FOUNDING MEMBER OF THE ARAB WAR RISK INSURANCE SYNDICATE (AWRIS) AND THE EMIRATES INSURANCE ASSOCIATION (EIA). THE COMPANY ALSO MAINTAINS ITS MEMBERSHIP TO THE GENERAL ARAB INSURANCE FEDERATION (GAIF) AND THE FEDERATION OF AFRO ASIAN INSURERS

position of absolute protection at all times…. We have simply invested to ensure every effort has been made to protect our data. We take a serious stand with data and our processes and procedures to support how awareness to potential data breaches and cyber-attacks. We have also assured any risk associated with data loss or data corruption is protected with suitable cyber risk insurance. While this is “an after event measure “it does provide a level of comfort should the business be targeted.

AND REINSURERS (FAIR).

RAK Insurance is committed to be the leader in online and mobile app services within the UAE insurance market. How does RAK Insurance protect itself from data breaches or cyber-attacks? RAK Insurance has invested in state of the art hardware and applications to protect the business and clients from data breaches and cyber-attacks. It would be foolhardy to take a

How does RAK Insurance stay informed and up to date with the latest in fraudulent activities in insurance? We take a very proactive approach to insurance related fraudulent activities. We have developed robust measures to prevent or minimize potential fraudulent activities. Measure such as real time “red flags”; data analysis; system intervention and a close relationship with the market has helped RAK insurance understand the moving trends of insurance fraud and allowed us to be at the forefront rather than behind.

Andrew has extensive experience in corporate governance and he has chaired and managed a number of executive governance committees that led to improvements internally and recognition of the company by local regulators. Andrew’s experience span across all areas of an organisation ranging from fiscal management, market development, technical development emerging markets, and creating shareholder value. Andrew holds a Masters Degree (MSc) from the University of Leicester, a Post Graduate Diploma in Islamic Banking & Insurance from the UK and Financial Planning Certificates from the Chartered Insurance Institute.

RAKBUSINESS | 15

INVEST

Eng. Abdullah Al Abdooli, CEO of Al Marjan Island

AL MARJAN ISLAND OFFERS ATTRACTIVE INVESTMENT OPPORTUNITIES Al Marjan Island, a world-class luxury resort destination, has offered the investment opportunities within the flagship development owned by Ras Al Khaimah government and in the Emirate through its participation at the International Hotel Investment Forum which held recently in Berlin. This further build on the record growth in tourist arrivals to Ras Al Khaimah in 2017, with the number of tourists gaining 19% over 2016. According to Ras Al Khaimah Tourism Development Authority, Germany, Russia, the UK and India were the top international source markets. Hotel occupancy also recorded growth to 73.6% with the average

16 | RAKBUSINESS

length of stay increasing by 2.71 % to 3.41 days. Al Marjan Island is a Patron of the premier hotel industry event to be attended by over 2,000 senior hospitality investors and professionals from over 80 countries and highlighted the remarkable evolution of the master-planned destination that will feature beachside resorts, branded and non-branded residences and leisure attractions. The development pipeline and the long-term expansion plans for the destination will be presented to underline the investment opportunities offered for the hotel industry within the development.

INVEST

“ONE OF THE INCREASINGLY SOUGHT-AFTER HOSPITALITY DESTINATIONS IN THE UAE, AL MARJAN ISLAND IS A VIBRANT TOURISM AND LIFESTYLE DEVELOPMENT THAT OFFERS TREMENDOUS VALUE FOR INVESTORS. THROUGH OUR PARTICIPATION AT THE INTERNATIONAL HOTEL INVESTMENT FORUM IN BERLIN, WE ARE PUTTING THE SPOTLIGHT ON THE HIGH-VALUE INVESTMENT OPPORTUNITIES FOR EUROPEAN AND INTERNATIONAL INVESTORS WITHIN AL MARJAN ISLAND AND RAS AL KHAIMAH. THEY WILL BE PART OF ONE OF THE FASTEST-GROWING TOURIST AND HOSPITALITY HUBS IN THE MIDDLE EAST REGION AS RAS AL KHAIMAH CONSISTENTLY RECORDS GROWTH IN TOURISM AND HOTEL PERFORMANCE.” Eng. Abdullah Al Abdooli, CEO of Al Marjan Island At Al Marjan Island, international investors can purchase land plots with development rights. The infrastructure for the land is already developed under a plug-and-play model. Most of plots are designated for residential units, boutique hotels, resort, community facilities and retail. With its distinctive positioning as attractive beach resorts destination, Al Marjan Island complements the focus of the Ras Al Khaimah government to establish the emirate as one of the fast-growing business and leisure hubs in the region. With one of the largest economic zones housing more than 13,000 companies, Ras Al Khaimah offers investors to have 100% ownership and zero income tax. Ras Al Khaimah is making significant gains in tourism with itswwwextensive coastline, golden sand beaches, natural mangroves, the UAE’s tallest mountain which is home to the longest zipline in the world offering spectacular views, and a rich cultural heritage highlighted by the archeological findings. According to the Ras Al Khaimah Tourism Development Authority, tourist arrivals are set to grow from 1 million this year to over 2.9 million annually by 2025, driving the demand for hotels and resorts. With a GDP growth of 4.5% in 2016, higher than the national average, Ras Al Khaimah’s hospitality sector has recorded sustained growth. From 2009 to 2016, room nights demand for five-star hotels increased by a CAGR of 13.83% while room night supply grew 11.59%. Significantly, Al Marjan Island is regarded as the project of choice for property investors and developers who are seeking exceptional residential and leisure amenities. With the impressive growth in number of tourist arrivals as well as Ras Al Khaimah’s emphasis on promoting industrial diversification, the emirate is an ideal fit for European investors. An additional 15,000 hotel units are required in the next seven years to serve the

growth in tourist arrivals, with the sector set to record a growth of 23% per annum. About 7,000 new hotel rooms are set to be added, mostly in the 5-star beach resort category, in the next three years (by 2021), with nearly 7% to be delivered on Al Marjan Island. Underlining the robust performance of hotels, the figures have increased by over 5% in the last three years. Only 15 minutes from the Ras Al Khaimah International Airport and 45 minutes from the Dubai International Airport, Al Marjan

OPPORTUNITIES

Island comprises four islands – Breeze, Treasure, Dream and View. The entire development is served by a well-integrated road network that connects to all key cities of the UAE. With 7.8 kilometres of pristine 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 has an evolved hospitality sector already with Breeze Island being home an exceptional hotels such as Rixos Bab Al Bahr and Double Tree by Hilton, which offer the perfect harmony of luxury and nature. Al Marjan Island was recently in international spotlight after it won the GUINNESS WORLD RECORDS for the ‘Largest aerial firework shell’ that marked the New Year’s Eve celebration which welcomed hundreds of thousands of guests. For more information, please visit: almarjanisland.com

ALMARJAN ISLAND NUMBERS

7.800

KM OF OF BEACHES

23.00

KM WATERFRONT PLANNED

6500

RESIDENTIAL UNITS AND

8000

HOTEL ROOMS PLUS

600

HOLIDAY VILLAS

RAKBUSINESS | 17

THE MANUFACTURING INDUSTRIAL SECTOR AND ITS ROLE IN ACHIEVING SUSTAINABLE DEVELOPMENT AND ECONOMIC DIVERSIFICATION

OVER THE COURSE OF HISTORY, THE MANUFACTURING SECTOR HAS CONTRIBUTED TO THE ECONOMIC DEVELOPMENT OF ALL COUNTRIES, ESPECIALLY THE DEVELOPED COUNTRIES, THE FIRST INDUSTRIAL REVOLUTION WAS INDEED ONE OF THE GREATEST REVOLUTIONS THAT MANKIND HAS CREATED OVER TIME. IT BECAME THE TITLE OF EVERY PROGRESS, AND A DRIVE FOR ACHIEVING GREATER ECONOMIC SUCCESS IN ALL OTHER SECTORS. THE MODERN TECHNOLOGICAL REVOLUTION AND THE ADVANCED LEVEL OF SOCIAL AND ECONOMIC WELL-BEING THAT MANY PEOPLE TODAY ENJOY, ARE THE NATURAL OUTCOME OF THE INDUSTRIAL REVOLUTION AND INDUSTRIAL PROGRESS.

18 | RAKBUSINESS

As the industrial sector is an important factor in driving economic development, countries are racing to develop and increase its contribution to their GDP, it is common to measure the progress and economic and social development of any country by the extent of the contribution of the manufacturing sector to its GDP, which necessarily means greater ability to achieve long-term sustainable development, as well as greater ability to absorb the local, regional and global economic volatility, making the economy less fragile and more resilient against it. The study of the experiences of most countries that have achieved excellence in the progress and development of the industrial sector has shown that it has led to significant and structural changes in its economic and social structure, transforming from consumer society to productive society, achieving economic security and increased prosperity in all other aspects of life. INDUSTRY IN THE UNITED ARAB EMIRATES: The industrial sector in the United Arab Emirates managed to maintain its high contribution in the GDP compared to the rest of the GCC to reach about 14% as an average during the last ten years. Official sources in the country expected that the contribution of the industrial sector in non-oil GDP will increase during 2021 to about 20%, compared to 12 to 14% achieved during the past years. Such steady progress for the manufacturing industry was due to the great importance given by the State especially to address the imbalance in the production structure in terms of reducing the reliance on the crude oil and gas sector, working on the diversity and multiplicity of productive sectors to diversify sources of income was its main avenue, and manufacturing has received special attention from its decision-makers. In the early stages of industrial development in the country, the focus was on basic labor intensive industries, but subsequent stages of development and growth witnessed a trend and expansion in capital intensive industries based on innovation and creativity in production, which led to achieving high rates in that sector, large investments were also directed to build large projects and expand the establishment of industrial and free zones to encourage the private sector to build factories of all kinds, in these industrial zones, all

INVEST REPORT

elements of support and encouragement for industries that have attracted a lot of local and foreign private sector investment are integrated. The remarkable industrial development witnessed by the state was not limited to meeting the local needs, but the industrial products exported to abroad commodities bearing the name of UAE origin and proud of its quality and high competitiveness among other products. THE ROLE OF MANUFACTURING INDUSTRY IN RAK ECONOMY: The value added of the manufacturing industries sector (including the free zones) in 2016 amounted to about AED 10.7 billion with an annual growth of 4%, and the sector contributes about 30% of the GDP, which remained almost constant at this level during previous years, fixed capital formation in the sector grew by about 4% per year to about AED 3.9 billion, representing about 43% of the total value of fixed capital formation, which is almost the same as the previous years, which ranged from 41 to 44%. The previous economic indicators show the importance of the sector, which is the most important contribution to GDP, i.e., the sector that leads the process of growth and sustainable economic development. Some studies indicate that it contributes about 27% of the total number of employees in the emirate. The metal products industry is considered the most important industry in the emirate, followed by the machinery and equipment industry, then the chemical industry and its products, industrial companies in the emirate have become highly competitive in the region in some areas, particularly in the pharmaceutical, ceramics, cement, chemicals, automotive, metal structures and information technology industries. The industrial sector in the Emirate of Ras AlKhaimah is currently undergoing a new phase of progress and development that will shape its structure and future role to a large extent, as it receives annual investments that increases steadily from year to year, while expressing the interest of the Government of the Emirate to develop its production bases and its keenness to increase its contribution to its gross domestic production, through the continuation of the implementation of expansion plans through spending on major industrial projects.

With the expectation that the Government of the Emirate of Ras Al Khaimah will continue to support various sectors, including the industrial sector, in the coming period, it will boost the growth of the industrial sector and push its rates to new heights better than those previously achieved. The Emirate of Ras Al Khaimah adopts an industrial strategy based on achieving harmony and coordination between the concerned parties to find the means and mechanisms to provide the possibilities of industrial development and develop detailed strategies for each sector or industrial activity and supervise its implementation and monitor the performance of the industrial sector based on performance indicators, conducting studies, research and statistics, and providing an information base for the industrial sector, preparing policies and strategies and supervising the implementation of the industrial strategy of the Emirate through the issuance, development and supervision of the implementation of all regulations, decisions and controls necessary for the conduct of industrial activities and the establishment of industrial projects and facilities by reviewing the legislations related to the industrial sector, proposing appropriate amendments or new legislation in coordination with the relevant authorities, as well as proposing specifications and quality standards for the industrial sector and submitting it to the concerned authorities and the establishment of regulatory and technical controls for the establishment of industrial projects in the free zones and its monitoring, the strategy is also based on the provision of licensing services and services related to the establishment of industrial projects through the issuance, renewal, cancellation, amendment and suspension of industrial licenses and control of the activities of industrial projects and facilities in the Emirate. It provides manufacturing industries with a full range of support and incentives through the provision of industrial lands and infrastructure of high quality and providing support services at competitive prices, transparency and speed in the implementation of government requests and procedures and the creation of incentives and facilities for investment to achieve the strategic objectives that the government seeks to achieve.

NOs AND FACTS 26% is the manufacturing sector contribution to RAK Emirate GDP. Metal products industry is the most important sector, followed by machinery and equipment. The manufacturing sector captures increasing rates of annual investments, stimulating the industrial growth in RAK. RAK Government provides full range of support, incentives including, industrial land and high quality infrastructure to help achieve strategic objectives and expansion.

PREPARED BY : RAK DED

RAKBUSINESS | 19

Nicholas Peter Hodler, Director of ARC International Middle East

NICHOLAS PETER HODLER

ARC INTERNATIONAL MIDDLE EAST

A LEADING COMPANY IN GLASS MANUFACTURING IN RAK By: Khawla Ibrahim

“Arc International Middle East is the first international company established in Ras Al Khaimah. The company started in 2004 and acquired ‘Al-Manar Glass’. ARC maintains a 50,000 tons furnace which was built in 2006, and added another one of the same size in 2010 to boost daily production to nearly 200,000 pieces of glass in its RAK factory. Most of the production exported to the Middle East, Africa and India. Annual sales is estimated at US$ 90 million”. Speaking to ‘RAK Business Magazine’, Mr. Nicholas Peter Hodler, Director of ARC International Middle East. He Added: “ARC is a leading French manufacturer of tableware products around the world, combining creativity and industry experience, mixing elegant design and high quality through ARC five brands, (Luminarc, Arcoroc, Chef & Sommelier, Arcopal and Cristal d’Arques Paris). ARC has taken upon itself to offer products that combine beauty and elegance, to be accessible to customers all around the world. Today ARC has five international factories; the largest is in France. 20 | RAKBUSINESS

15%

WORLD MARKET SHARE

200.000 PIECES OF GLASS DAILY IN RAK

MILLION US$ SALES FOR RAK FACTORY

“In ARC we design and innovate all kinds of glass for the table, and we have highly sophisticated production unites supported by creative professional designers to create unique and innovative designs”, said Hodler. “Quality has always been the essence of our products that have won the confidence of our customers. We produce the requirements that families need for daily use, in addition to promotional products and services and different companies’ brand. ARC also designs and produces exclusive collections for other companies and clients all over the world, which are then are sold under their brand names; such clients include: fast food restaurants, Soda, Cola and other beverage manufacturers, furniture and home decorators... etc”. Hodler added: “As for hotels and restaurants, I am very proud of our durable non-fragile glass products; so customers enjoy our long life products, especially catering services industry”. “In keeping with environmental protection and safety, we strive in ARC to apply the best international practices, through using

INVEST MADE IN RAK

ARC HAS FIVE FACTORIES AROUND THE WORLD, THE LARGEST IS IN FRANCE, AS WELL AS FACTORIES IN THE UNITED STATES, CHINA, UAE AND RUSSIA

modern fire protection equipment, following the same standards applied in France and United States, that are approved by international insurance companies in accordance with their set conditions and procedures”. Hodler said. “We are also committed to implementing sustainable development standards at all environmental, economic and social levels, as well as reducing the environmental impacts of each manufacturing process, improving energy use, best equipment utilization, and improving each stage of production applying best environmental friendly technologies”. Hodler added. As for ARC new expansion plans, Hodler explained: “ARC as a company was subjected to some shocks due to the global economic crisis, as the company was purchased by a group of American investors, and I am here part of this new business management team. ARC is still a French company, but the main shareholders are Americans; so our focus in the past two years has been to maintain profitability instead of huge expansions. Today most of our investments are concentrated in the field of automation, cost reduction and business simplification, rather than investing in expansion, while we are actually expanding in the technical field, new decoration, ornamenting technology, and any techniques possible to increase the volume business and cost reduction”. Regarding ARC position in global market, Hodler confirms: “The glass market is a clearly shared and segmented market, where ARC is number one globally, with 15% share of the world market. The second player in the world is an American company that holds 10% of the global market. The rest of the market is divided among different smaller companies”. “On the other hand, we are distinguished by the fact that we do business differently according to each market. Considering the

development and maturity of such markets, the UAE market is very similar to the European market, in terms of major retail business, while in Egypt, India, Iran and some other regions, the markets are largely traditional; so, when we have mature retail markets, we deal with them directly, as in UAE and Saudi Arabia. In traditional markets, we deal with distributors and wholesale markets; therefore they supply to smaller distributors and so on”, Hodler explained. AS Arc International Middle East products follows the local taste. Hodler said: “We noticed that ‘Arcopal’ brand is very popular in UAE, but it was and still of European style, and so it was necessary to find a brand that matches local taste. So, we have changed the brand ‘Indora’ and designed a new logo, that included Arabic characters and local luxury designs, to meet the needs and taste of the local market”. Regarding business climate in Ras Al Khaimah, Hodler explained: “The advanced infrastructure along with favourable investment laws, was one of the mean reasons for coming to Ras Al Khaimah, as contracts can best be formulated for investors in the start-up of business. In general we very much appreciate what the government does to help business in RAK”. “In addition to business, leisure and recreation takes part of my time; I like to ride my bike up the way to Jebel Jais where the sightseeing is charming and beautiful. said the Director of ARC International Middle East, Mr. Nicholas Peter Hodler.

ARC INFO. THE COMPANY STARTED OPERATING IN RAK 2004. HAS PURCHASED THE AL MANAR GLASS BRAND IN 2006. THE WORLD'S FIRST GLASS PRODUCER WITH A MARKET SHARE OF 15%. $ 90 MILLION IN SALES OF THE COMPANY IN RAS AL KHAIMAH. RAS AL KHAIMAH COMPANY EXPORTS MOST OF ITS PRODUCTION TO THE MIDDLE EAST, AFRICA AND THE INDIAN SUBCONTINENT.

RAKBUSINESS | 21

BUSINESS

RAK INCUBATOR OFFERS SPECTACULAR SERVICES FOR STARTUPS RAK Incubation and Accelerator is dedicated to build Entrepreneurship Unique Eco-Systems with cutting-edge solutions to enhance startup culture and knowledge in the Emirate of Ras Al Khaimah. RAK Incubator - TECHTOWN RAK - is a powerful platform for entrepreneurs and startups, offering unique multiple advantages through its startup framework, specialized industrial centers, training and mentor-ship, access to investors and decision makers. Once startups apply their applications, it goes under an evaluation process completed by experts in order to pick up the innovative projects that will solve

22 | RAKBUSINESS

currently faced problems and will help in building a technology based environment, such as ; automating processes, providing services online,etc. Rak Incubation offers many services for startups such as; providing co-working spaces in Rak and Dubai, supporting in applying for license, a two month Training programs, mentorship sessions, access to all Rak Incubation events to network and to be explored for the business mentors, consultants and other successful entrepreneurs. The mission of the incubator is encouraging and supporting the establishment and development of

BUSINESS DEVELOPMENT

FORBES MIDDLE EAST UNVEILS 31 ARAB BILLIONAIRES

young entrepreneur’s projects in the United Arab Emirates – Ras Al Khaimah in order to promote and stimulate a knowledge-based economy. We are running 18 startups up to this moment, who we have shared great experiences in developing and enlarging their projects to compete in the business market. Each startup live a different unique experience depending on the environment of their projects, today, we tell the success story of Sehteq- Find the best insurance for you in best price.

Forbes Middle East is uncovering the Arab billionaires that have been revealed in the 2018 Forbes US Global Billionaires ranking. The 31 mega-wealthy Arab business tycoons have a combined estimated net worth of $76.7 billion. Construction and chemical tycoon, Nassef Sawiris, tops the list with an estimated net worth of $6.6 billion. He is followed by three Emirati business moguls—Abdullah Al Ghurair, Majid Al Futtaim and Hussain Sajwani, with an estimated net worth of $5.9 billion, $4.6 billion and $4.1 billion respectively. None of the previous year’s Saudi billionaires made it to this year’s rankings. This year Forbes US chose to abstain Saudi Arabia billionaires from the list due to reports revolving around their asset seizures. Last year Saudi billionaires were worth $42.1 billion, this year they were expected to be worth more considering the rise in oil prices and capital markets globally. As a result, the total wealth of Arab billionaires has fallen from $123.4 billion to $76.7 billion, and 11 have dropped off the charts: last year there were 42; today there are 31.

BRIEF ARAB BILLIONAIRES HAVE A COMBINED NET WORTH OF $76.7 BILLION. EGYPTIAN, NASSEF SAWIRIS, TOPS THE LIST WITH AN ESTIMATED NET WORTH OF $6.6 BILLION. THERE ARE 31 ARAB BILLIONAIRES, 7 OF WHICH ARE FROM THE U.A.E. AND 7 FROM LEBANON. NO SAUDI BILLIONAIRES FEATURE IN THE 2018 LIST.

AUTOCHAIN WORKTEAM

AUTOCHAIN DESCRIPTION Autochain is a decentralized car trading platform. It connects the dealers, insurance companies and the RTA using Blockchain. By deploying smart contracts AutoChain prevent frauds and provides users with a complete vehicle history which can never be falsified due to the inherent nature of blockchain. Autochain aims to make buying and selling cars easy, transparent and trustable. DELIVERY ALI: Delivery Ali is a technology used to provide a general restaurant delivery service using bicycles. Delivery Ali consists of two mobile applications , the first for the restaurant to request delivery service. The second is for the bike owner to receive the order. So once the restaurant sends an order, the nearby boy with the bike will be at the restaurant in no more than 25 minutes. Delivery Ali is targeting small, medium and home-based restaurants. RAKBUSINESS | 23

27% IS THE CONTRIBUTION OF THE INDUSTRIAL SECTOR TO RAK GDP IN LINE WITH RAK GOVERNMENT POLICY, AIMED AT ATTAINING SET STRATEGIC GOALS AND OBJECTIVES, THE GOVERNMENT LAYS GREAT EMPHASIS ON THE DEVELOPMENT OF THE INDUSTRIAL SECTOR, BY PROVIDING THE MOST FAVORABLE AND SUPPORTIVE INVESTMENT ENVIRONMENT, TO MEET THE NEEDS AND REQUIREMENTS OF ALL INVESTORS. THIS INCLUDES THE PROVISION OF INDUSTRIAL LANDS, THE PROTECTION OF INTELLECTUAL PROPERTIES AND REQUIRED LOGISTIC AND FINANCIAL FACILITIES. ALL GOVERNMENT ENTITIES PROVIDE REQUIRED AIDING SERVICES, TO ENHANCE THE COMPETITIVENESS OF THE INDUSTRIAL SECTOR AND INCREASE ITS ATTRACTIVENESS FOR LOCAL AND FORIEGN INVESTORS.

The industrial sector (extractive and manufacturing), is vitally important to RAK economy, as its contribution to GDB amounted to 26.5%, and its share reached 47.7% of total fixed capital formation in 2016. The manufacturing industry in particular, contributed by 23.2% to RAK GDP, and 44.2% of fixed capital formation in the same year. At the level of the industrial sector itself; the manufacturing industry contribution to the industrial GDP reached 83%, while its share in fixed capital formation was 93 %. The extractive industry share was 7% in the same period.

Diagram (1)

The number of total industrial licenses issued in RAK, reached 2791 licenses at the end of 2017. New industrial licenses issued at the same year totaled to 50 which consititute 3% of the total number of new licenses issued during the same year, distributed over main 9 industrial areas in RAK, as shown in diagram (1). Ras Al Khaimah area ranks first in terms of the number of licenses with 22.8% of total licenses, Al Jazeera industrial area, which is the main free zone in RAK, came next with 9.1%. followed by the areas of Mamoura and Julphar came in third and fourth places in terms of relative importance.

The distribution of registered industrial activities in RAK in 2017, were as follows: the extractive industries (1.4%), the manufacturing industries (98.6%); which is distributed among textiles, clothing and footwear (41%), manufacture of metal products and its formation (22%), manufacture of machines and equipment and its assembly (7.5%) and furniture and wooden products (7%). The percentage of other industrial activities distribution, differ in various industrial sub sectors. (Diagram 2).

Diagram (2)

Manufacture of furniture and wooden products Manufacture of machines and equipment and its assembly Manufacture of metal products and its formation Manufacture of clothing, textiles and footwear Other Industries

24 | RAKBUSINESS

RAK Centre for Statistics & Studies, provides data to help and aid investors. Licensing authorities works to reduce licensing procedures particularly the industrial licenses by applying online licensing system, to speed up and shorten time effort. This enhances business environment and facilitates practising industrial activities in RAK, as well as improving the competitiveness of the emirate to attrat more investors.

BUSINESS OPINION

PRODUCTIVITY AND DEMOGRAPHIC COMPOSITION IN GCC COUNTRIES Dr. Abdel Halim Moheisen

THE DEMOGRAPHIC COMPOSITION ISSUE IN GULF COUNTRIES HAS BECOME A TOP PRIORITY FOR ECONOMIC DECISION MAKERS, AND THE MAIN CONCERN OF A WIDE AND BROAD SECTOR OF RESEARCHERS, SCHOLARS AND STAKEHOLDERS. MOST STUDIES AND ANALYSIS CONFIRMED THAT THE COMPOSITION OF THE POPULATION STRUCTURE IN THE GCC COUNTRIES, IS LARGELY INFLUENCED BY THE PATTERN AND PATH OF ECONOMIC GROWTH OF THESE COUNTRIES.

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

The overall economic development in GCC countries, has been characterized by two main economic phenomena: the strong economic concentration of the GDP structure, and the very high annual volatility in economic growth rates which has exceeded those in other countries. However, the volatility has decreased significantly in recent years, compared to previous periods, due to the success of economic diversification efforts in these countries, including UAE and the Kingdom of Bahrain. In this context, the large growth rates achieved by GCC countries, especially after the oil boom, coupled with the limited number of population, have contributed to the emergence of the imbalance in the demographic composition of many of these countries. The flexible and relaxed policies of expatriate labor recruitment, have led to the increased flow of labor in some years more than the actual needs of the economy in many Gulf countries. This exacerbated the imbalance in the population structure, and caused a significant decline in the levels of productivity of the workers, and resulted in surplus labor in the economy of these countries, and reflected mainly in the manifestation of what became known as â&#x20AC;&#x2DC;bulk employmentâ&#x20AC;&#x2122;. The findings of some studies based on linking the economic growth rates and productivity from one side, and the demographic composition from the other side, have shown that all potential and assumed expectations of economic growth and productivity in the coming years, will lead to difficulties in achieving the proper alignment between growth and economic development and maintaining the demographic composition. Achieving this balance, requires raising productivity levels for labor, particularly that of nationals. These studies showed, that the required overall pro-

ductivity growth rates of the GCC economies, are in fact much higher than the rates achieved historically, and are also higher than those achieved by some neighbouring and developed countries. Therefore, policies to address the imbalance in the demographic composition, together with achieving the expected or targeted economic growth rates, should start at the beginning by raising the total productivity of labor in the Gulf countries. Improving productivity has three main approaches: Applying the model of economic development based on knowledge, innovation and intensifying capital, which was clearly adopted by the economic visions of the Gulf countries in general; then working to direct the domestic and foreign government and private investments towards the investment projects that achieve such standards. The second approach, is upgrading the skill and technical level of the workers; however, in this point a distinction must be made between national and non-national employment. As for the national workforce, the process must be carried out by raising the level of education at all levels, harmonizing the outputs of education with the needs of the labor market, intensifying the training and development processes and other economic and social policies that have become known to all. Concerning the expatriate labor, GCC countries are required to limit the flow of unskilled labor, to the extent required by the actual needs of the economic sectors. This requires developing an index that links the productivity of the economic sectors with the flow of labor to them so as to place restrictions on these sectors where the productivity of their workers is low, and reduced restrictions on the sectors with higher productivity. This requires addressing the phenomenon of surplus labor experienced by some economic sectors, according to the criterion of productivity. This surplus in most studies, mainly concentrates in construction and real estate sectors; and requires detailed and specified recruitment policies, to limit such unregulated recruitment of employment until the surplus disappears. The overall productivity index, should be adopted here as a guide in the recruitment policy, not only in these two sectors, but also in other economic sectors. The third approach, focuses on attracting highly skilled, professional, technical and well educated workers; and reducing the recruitment of unqualified and unskilled workers coming to GCC countries to acquire experience and skills, which led to the fact that GCC countries have become the largest training location in the world. which may require following the lead of what the is UAE should be taken as an example in implementing several initiatives, in this regard, such as the establishment of several training centres abroad, to train workers in their countries prior to recruitment, rather than the unregulated recruitment procedure of labor at present. A minimum level of qualifications required for certain occupations and professions, should be adopted, together with an agreed ceiling for workers in some professions and marginal occupations, which could be replaced by using modern technologies and techniques. this ceiling could be set annually to actual needs. RAKBUSINESS | 25

1.3 MILLION BIDDERS

EMIRATES AUCTION STRENGTHENS CONFIDENCE IN SMART AUCTIONS Since its establishment in the United Arab Emirates in 2004, ‘Emirates Auction’ has achieved continuous success to become the region’s leading company in the field of public and online smart auctions for vehicles sales, car palets numbers, real estate, asset liquidation projects, distinctive mobile phone numbers, jewelry, heritage and antique products, heavy machinery, construction and manufacturing equipment... etc. Emirates Auction was keen on pioneering and innovation, providing maximum flexibility and easy access to customers. It was the first to use smart auction mobile phones Apps and tablets. In 2017, the company achieved more than one million and 900 thousand bids, where 25 thousand items were sold. More than 1.3 million bidders from 226 countries participated, and last year the numbers of smartphone application downloads amounted to more than 300 thousand, whereas since the launching of the application, total downloads reached 700 thousand.

EMIRATES AUCTION STRENGTHENS PARTNERSHIP WITH RAK COURTS RAK Courts has signed a Memorandum of Understanding (MoU) with Emirates Auction, aimed at strengthening cooperation between the two sides to organize online cars, real estate and movables auctions. Emirates Auction efficiently cooperated with RAK Courts over the past years, in sales of ceased vehicles, in record times with best returns. Al-Khatri: “We will benefit from the 10 years experience” Chancellor Ahmed Mohammed Al Khatri, Chairman of the RAK Courts Department, said that the courts have had difficulty in selling movables, for which different judicial orders are issued for goods, offices, foodstuffs, etc., whereas movables are not widely favorited by bidders through slow traditional methods, or unacceptable or expected prices of such goods. Chancellor Al-Khatri, noted that ‘Emirates Auction’ with over 10 years of experience, has given a strong impetus to increasing the numbers of bidders, by facilitating the process, reducing the burden and costs for the courts, and enhancing the level of transparency and governance; which made ‘Emirates Auction’ the leading partner of RAK Courts in this field. Al-Mannai: “We will continue to launch constructive initiatives” Abdullah Matar Al Mannai, Executive Director of Emirates Auction, said that strengthening the cooperation frameworks with RAK Courts, will further benefit the courts through the significant achievements of the company. Emirates Auction continues to launch constructive initiatives similar to the project of ‘Judicial Appointments System’, which contributed to enhancing the overall policy of the UAE government; to preserve the environment by reducing paper transactions to zero. The ‘Judicial Appointments System’ increases the level of financial return, by eliminating many indirect costs, such as fuel, paper, ink...etc, in addition to impact on raising the level of happiness among customers in government departments. 26 | RAKBUSINESS

IN 2017

1900000 BIDS

25000

ITEMS WERE SOLD

PARTICIPATE

1300000 BIDDERS FROM

226

COUNTRIES AND

300000

APPS DOWNLOAD

ONLINE JUDICIAL APPOINTMENT SYSTEM A project developed by ‘Emirates Auction’, was launched by H.H. Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai, during GITEX 2017. The project was adopted by UAE courts, and the trial phase was activated in cooperation between Dubai courts and RAK courts. The new system allows all Judicial appointments to take place in the same court; this led to a shortening procedures time, applying best judicial services for litigants, lawyers and experts. Procedures prior to the previous appointment system, use to take 10 days and 3 hours in average, while the new system reduced the time to one hour and 50 minutes only. The total number of judicial appointments implemented through the e-judicial system reached 1000 appointments. This resulted in saving 62 thousand working hours for courts, and reduced the number of required procedures from 16 to 6 only. By adopting the system, the time used for completing appointment procedures, will be reduced from 6 months to one week in average. STRATEGIC PARTNERSHIPS His Excellency Abdullah Matar Al-Mannai said that ‘Emirates Auctions’ has been able to enter into strategic partnership with a

BUSINESS ACTIVITIES

number of government and private entities. This partnership resulted in a number of achievements and was crowned by recognition certificates. ‘Emirartes Auction’ was able to enter the Guinness World Records for selling the most expensive hat for 24 million and 50 thousand dirhams, during an auction, organized in favor of ‘Al-Jalila Foundation’. The company also received a certificate of appreciation from ‘Sharjah Police’, for its effort and positive contribution to the success of the celebrations of Sharjah Polic Golden Jubilee. Dubai Courts honoured the compay with an appreciation certificate for its contribution in sponsoring Dubai Courts platform at GITEX 2017. ‘Emirates Auction’ also recieved a certificate of thanks and appreciation from Traffic and License Department - Umm Al Quwain in recognition of its efforts and valuable support in the activities of the 43rd National Day. A certificate of appreciation was also received from Ajman Municipality and Planning Department, in recognition of sponsoring the organization of the ‘Open Meeting - 2016’. His Excellency Al-Mannai, added that the company was issued a certificate of thanks and appreciation from ADCB, for serving international banking institutions in the UAE. Another certificate of appreciation from the RAK Courts Department, was received for joint cooperation in the strategy to develop RAK Courts Department work. Dubai Courts honored the company for its cooperation and fruitful participation in the success of the ‘Happy Family Initiative’. An appreciation certificate from Fujairah Police GHQ, was given to the company in recognition of its efforts and cooperation in the ‘Students Summer Training Course-2017’. INTERNATIONAL PARTNERSHIPS ‘AlArabia Auction’ company was estabilished in 2017 in the Kingdom of Bahrain by the ‘Emirates Auction’ comapny, which undertakes the organizing and management of public auctions for the distinctive motors palets numbers in Bahrain. The company signed a cooperation agreement with ‘MAZAD’, and affiliate of Bahrain Mumtalakat Holding Company B.S.C.

INTERNATIONAL CERTIFICATES ISO 9001: 2008 Quality Management Systems (Public and online auctions for motors plates and government and private real estate assets) ISO 10002: 2004 Quality management, Customer satisfaction Guidelines for complaints handling in organizations ISO 27001 Information Security Management Systems ISO 22301 Business Continuity Management Systems

2016 AWARDS HE Abdullah Matar Al-Mannai, Executive Director of Emirates Auction, was awarded ‘Executive Director of Corporate Social Responsibility Award-2016’, in recognition of his support for many community initiatives, awarded by ‘Middle East CEO Magazine’ of ‘ITP Publishing’ in Dubai. Al-Mannai gained the prestigious award for his outstanding efforts, in the area of social responsibility, commitment to launching distinctive community service initiatives in UAE, supporting programs to combat poverty, empowering needy communities, and contribution to education and health, in collaboration with major humanitarian organizations and charities in the country. Emirates Auction has supported many charitable, social and humanitarian initiatives, including the raising of AED 150,000 at an auction held at margin of the UAE documentary TV show ‘Beyond Borders’ to aid the hurricane victims in the Philippines. It also raised AED 89.9 million for the UAE based ‘AlJalila Foundation’. In order to provide education for the most disadvantaged in the world, ‘Emirates Auction’ organised the ‘Reading Nation’ auction in June, under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. The auction collected AED 41 million, and managed to provide 4 million books for refugee and needy students around the world, also supplied more than 2,000 schools worldwide, with reading and knowledge books. ‘Emirates Auction’ company extends cooperation with many humanitarian institutions, endowments centres, various universities in UAE, ‘Dubai Cares’, the UAE Red Crescent, Mohammed Bin Rashid Global Centre for Endowment Consultancy (MBRGCEC), Mohammed Bin Rashid University of Medicine and Health Sciences, and Humaid Bin Rashid Alnuaimi Charity Foundation- Ajman. ‘Emirates Auction’ efforts and cooperation with various organizations and entities aims at making positive change in needy communities around the world. RAKBUSINESS | 27

BUSINESS LEGAL CONSULTANCY

COMMERCIAL MORTGAGE AND ITS IMPORTANCE TO BANKS By: Ihab Al-Koni

COMMERCIAL BANKS PROVIDE LOANS AND FINANCIAL FACILITIES REQUIRED BY CUSTOMERS TO MEET THEIR BUSINESS AND OTHER OBLIGATIONS. PROVIDING LOANS AND OTHER FINANCIAL FACILITIES TO BANK CUSTOMERS, IS AN IMPORTANT BANKING ACTIVITY. COMMERCIAL BANKS REQUIRES BORROWERS TO PROVIDE LEGAL GUARANTEES DEEMED APPROPRIATE, WHICH ARE MAINTAINED UNTIL FULL REPAYMENT OF ALL AMOUNTS BORROWED, OR OTHERWISE LIQUIDATING THE COLLATERAL TO COVER THE DEBTS, THAT THE BORROWER FAILS TO REPAY IN ACCORDANCE WITH THE AGREEMENT.

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

The commonly used legal guarantees required by banks, in some cases, are called ‘commercial mortgage’ or ‘lien Commercial Mortgage’. The mortgage is commercial, for the parties (bank and customer), If this mortgage is on a ‘moveable asset’ and that moveable asset is to guarantee a debt that is commercial to the debtor; as all banking procedures according to law, are considered commercial activities. The commercial mortgage includes movable asset or what is considered as movable asset such as, goods, gold, industrial products, agricultural products, shares, bonds, bills and promissory notes, or other commercial papers, or the contents of warehouses, factories, construction materials, vehicles, trucks or artifacts of high value ...etc The mortgage concept was mentioned in the Holy Quran where Allah Almighty says in his holy book: “And if you are on a journey and cannot find a scribe, then a security deposit [should be] taken. And if one of you entrusts another, then let him who is entrusted discharge his trust [faithfully] and let him fear Allah, his Lord. And do not conceal testimony, for whoever conceals it - his heart is indeed sinful, and Allah is knowing of what you do.” (Al-Baqarah – 283) The mortgage referred to in the verse, is considered a guarantee of debt, even though the commercial law

28 | RAKBUSINESS

guaranteed the rights of the mortgagee creditor and grants him all the appropriate powers to preserve his rights, until the fulfillment of the debt and the repayment of the loan. It also guarantees rights to the debtor, including the provision that it consideres null and void any agreement concluded at the time of the mortgage; or after, gives the mortgaged creditor, in the event that the debt is not fulfilled when it is due, the right to own or sell the mortgagor without taking into account the procedures included in the law; specifically to resort to the competent civil court, which follows all the legal procedures provided for the sale of mortgaged property, in the manner, place and time determined by the competent court, with the grant of the debtor the right to appeal if he so desires, according to legal requirements and procedures, after the auction proceedings have been completed. In order to obtain the best prices, the mortgagee creditor receives only the debt owed, and in the case of surplus, the surplus is surrendered to its owner, the debtor. Hence, it is clear that the law does not allow the mortgagee to profit on the account of the debtor, by preventing him from obtaining any funds deemed additional or more than he rightly deserves; and this is the exact core of justice. The ‘Federal Supreme Court’ ruled according to Article 172 of the Commercial Transactions Act No. 18 of 1993, that the mortgagee of a commercial mortgage over a movable asset, as a security for commercial debt in the event that the current debtor does not pay the secured debt, to request the court to authorize him to sell the mortgaged object, and to collect the debt from the price resulting from the sale. Article 175 of this Act is also set forth that if the mortgaged object is subject to depreciation, damage or impairment and its possession would require considerable expenses and the mortgagee did not want to offer anything else instead, both the creditor and the mortgagee may request the court to authorize him to sell it immediately and determine the method of sale, and the mortgage is transferred to the price resulting from the sale, meaning that when a commercial debt secured by a commercial mortgage over a movable asset, is not in the estimated value of the movable asset at the time of the foreclosure, but rather at the price resulting from the sale when sold, whether the price is below or exceeds that estimated value. It’s worth mentioning that the Commercial law also provided special rules for the sale and mortgage of the commercial premises, when it was stated that any act whose subject was the transfer of ownership of the business or the establishment of an inalienable right, must be authenticated or certified by the notary public and enlisted in the Commercial Register, otherwise it is null and void. In next article, terms and conditions of the mortgage of shops and commercial premises, will be highlighted in accordance with the provisions of the law.

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ENTREPRENEURS

History is not only measured by years, but by achievements, generosity, perseverance, ability to overcome difficulties and achieving success and excellence. With this vision, Mr. Mohammed Esmaeel Hasan Al Awadhi, CEO of a number of leading companies in Ras Al Khaimah revealed his ambition and passion to achieve success in business. In a short time he was able to become distinguished and renowned in business arena at the level of RAK and the UAE, as he established a group of national companies which provides professional services at international standard levels. ‘RAK Business Magazine’ interviewed Mr. Al Awadi, who highlighted his unique experiences in business, saying: 30 | RAKBUSINESS

“I started my career in 1991 as an employee in RAK Bank, with persistence and commitment to my duties, entering office early in the morning and getting out late at night, completed doing the required assigned duties and tasks. I was promoted, thanks to my manager’s recommendation and appreciation. I worked in other Emirates in competent positions of responsibility”. “The support of the bank board members and management, inspired me as motivated young man to work hard and reach the highest position in 2007 as a UAE citizen in the bank. due to health conditions, I had to leave the bank, and to take the difficult decision of starting my own business. This decision coincided with the global

ENTREPRENEURS INSPIRATIONAL EXPERIENCES

MOHAMMED ESMAEEL HASAN AL AWADHI

ACHIEVING GOALS WITH PASSION AND DETERMINATION By: Youssef Al Nuaimi

economic crisis; and I started by investing the full benefits of my retirement, instead of purchasing properties. I ventured into many professional activities to achieve ambition, where I started an air conditioning business, followed by firefighting solutions. As business expanded, I entered into electromechanical contracting, and eventually I created and managed my group of companies. Beginnings with thirty workers, the company grew to accommodate nearly 2,000 employees. We were able to gain recognition, and established branches in a number of Emirates, aspiring to more expansion”. Al Awadi added.

ket. I have always been convinced that the ability to challenge difficulties, is the first step towards success. Anyone can achieve ambitions and overcome obstacles with determination, hard work and perseverance”. Focusing on business Highlighting the services provided by his group of companies, Al Awadi continued: “Focusing on business expansion without wasting efforts in non-homogeneous activities, is very important for success. Therefore; I had to set a comprehensive portfolio to govern and promote projects including, general contracting, real estate, elecRAS AL KHAIMAH IS AN IDEAL PLACE I HAVE PENETRATED A FIELD tromechanical contracting, TO START A BUSINESS BECAUSE OF WHERE I HAVE NO EXPERIbuilding and sanitary mateITS INFRASTRUCTURE, LOGISTICAL ENCE rials trade, air conditioning SERVICES AND A FAVORABLE BUSIRegarding difficulties and services, interior design and NESS CLIMATE FOR SUCCESS challenges faced during decoration, facilities manthe course of his work, Al agement, car repairing and Awadi explained: “The bigcleaning services”. gest challenge I faced in business, was entering an area in RAS AL KHAIMAH IS A PERFECT INVESTMENT HAVEN which I have no experience; so I started exerting efforts to “We were able to successfully implement many projects and know more about electromechanical contracting, spending transfer our company into an electromechanical company, most of my time in work sites, to get more informed about well known in Ras Al Khaimah and other emirates. The combusiness details. I closely managed and supervised the staff pany executed part of Dubai airport works, in addition to during projects implementation. hotels, factories, luxury villas, and different projects outside I was aware that it was difficult to establish a name and RAK. Our focus today is primarily to expand business in Ras brand in the market; and faced difficulties in recruiting Al Khaimah, in view of the current development witness by skilled and experienced staff, to defiantly contribute to RAK; thanks to guidance of HH Sheikh Saud bin Saqr Al Qabuilding firm and innovative business relations in the mar- simi, Member of the Supreme Council and Ruler of Ras Al RAKBUSINESS | 31

Khaimah, which turned RAK into an attractive investment destination, and an ideal place to launch mega projects. Ras Al Khaimah turned into a favourable investment hub for tourism, industrial and commercial activities, as it hosts big economic institutions, with favourable rules and regulations such as; Ras Al Khaimah Economic Zone ‘RAKEZ’, Tourism Development Authority, major real estate developers. With all this momentum and tremendous development; we spare no efforts in providing global services based on adherence to quality standards and perfection” Al Awadi said. SUSTAINABILITY AND ETHICAL COMMITMENT

Regarding criteria for ensuring compliance and business ethics, Al Awadi stated: “We are dedicated to achieve sustainability and ethical commitment towards environment and future generations. Our key slogan is ‘Safety First’, so I am very keen to UAE IS AT FOREFRONT OF direct our team to render IMPLEMENTING REGULAservices according to the TIONS ON SAFETY, SUShighest levels of responTAINABILITY AND ADOPsibility, with high quality and competitive prices, TION OF GREEN BUILDING and to apply health and TECHNOLOGIES safety standards in workplace. We are an ISO certi32 | RAKBUSINESS

fied group, with A+ rating in ‘Civil Defence’; which provide quality products and electromechanical services in the region, and apply ‘Total Quality Management’ (TQM) with innovative techniques, without compromising environment safety standards”. HIGH QUALITY PROFESSIONAL SERVICES

Regarding the cooperation with the concerned parties, Al Awadi, explained: “UAE efficiently implements safety and sustainability regulations, and adopts green building technologies. The group is fortunate to receive support from local and federal authorities, which committed us to provide high quality professional integrated life and property protection services. We are proud of our qualified team of technicians and professionals, who carried out different projects, adopting with commitment to environment and generations ethics. Hence, we were able to closely cooperate with big firms, contractors and major economic institutions”. To keep pace with successive developments in the business life, he said: “I continuously learn to gain more knowledge and experience in work and life to succeed and develop business. I attend exhibitions related to our activities in UAE and abroad, in order to keep abreast of the latest practices and techniques. I also encourage my employees to participate in these exhibitions to remain informed, and keep up with training to increase their efficiency’’.

ENTREPRENEURS INSPIRATIONAL EXPERIENCES

SOCIAL INVOLVEMENT

Al Awadi always participate in community and social activities, in this regard he said: “We are involved in various community initiatives, and continuously contribute to such efforts, and I am very proud as a UAE national to serve the community of Ras Al Khaimah. The support of the wise leadership rendered to entrepreneurs and national companies created the unique example and prominent position enjoyed by UAE today”. UNLIMITED SUPPORT FOR YOUTH PROJECTS

As a successful national businessman, Al Awadi addressed UAE youth and young entrepreneurs inviting them to start their own private business: “Our wise government encourages young people to start private business. Full support in this regard is provided by national institutions, programs and favourable laws, together with the attractive environment to enable them transforming ideas into projects. It is time for young people to have their own business and projects, they should thoroughly study and explore the market, to establish value added businesses, and always strive for innovation, excellence and creativity” . ENCOURAGE YOUR CHILDREN

“Personally, I encourage my children to involve in private business and widen their vision, discover and develop their talents; and I always guide and advice them. My son Abdullah, who is an undergraduate Business students, is interested in working by my side, and likes to accompany me in meetings with clients and staff. My daughter, who works towards completing her master’s degree, may be able to manage our private business in the future, after gaining experience. My son Ammar, is hard working university student and at the same time he shows great interest in business”. Al Awadi Added: “My children do not live a luxurious life; instead they lead a balanced life. They are taught not to spend lavishly, and learn how to earn and spend money, since they were young”. SUCCESS IS THE OUTCOME OF PARENTS BLESSING

“My daily schedule, is to work from 6am to 3pm every day, then I have lunch with my

SUCCESS TIPS

THE ATTENTION OF OUR GOVERNMENT TO THE WELFARE OF CITIZENS AND EMPLOYEES, HAS LED TO UNLEASH THE CREATIVITY IN PEOPLE

Achieve your goals with passion and determination. Take inspiring people in life, as Models. Surround yourself with successful people. The accompany of the knowledgable and experienced, develops your abilities. Stay away from people who spread their negativity around. Take the initiative and don’t hesitate. Those who are goal-oriented, attain success. Develop your skills constantly, Do not be tempted by your success. Sport is an important part of life; it adds to mental and physical wellbeing.

family, and take time to be with my parents, who are the source of inspiration and determination, which led to success in my life. Most of my time is consumed by business, and attending to the needs, happiness and satisfaction of my staff and others. I am sure that the attention of our government to the welfare of citizens and employees, has led to unleash the creativity in people, enhancing their productivity and innovative ideas”, Al Awadi said. SPORTS MADE ME SMART in addition to his major responsibilities, Al Awadi is the Vice President of Emirates club: “ I was a football player. Sport is an important part of my life; it adds to mental and physical wellbeing, and its essential to the success of businessmen. Cycling, fishing, horse and animal breeding, constitute part of my hobbies and leisure time”. he said. RAKBUSINESS | 33

SEARCH AND CONSULT BEFORE YOU BEGIN Search your area of interest, learn from others and study the experiences of your predecessors, seek consultation and ask about anything you do not know, nothing shame in this, do not ever think you are bigger or more knowledgeable than asking for new or vague information for you. Look for a good entrepreneurial consultant who will reveal to you the mystery of everything that is obscure to you and avoid you falling into a lot of difficulties and problems, you can also look for advice on some internet websites that offer a representative of these services and often free of charge. 2

UNLEASH THE INTERPRENEUR INSIDE YOU

DRAW THE SUMMIT YOU WILL REACH It’s never true that who starts big stays big, in the business world this argument is never valid, and so many projects started small and thanks to the right management and logical goals came to success, so set your goal and divide your business plan into achievable goals. Set an ambitious near-term plan and a longterm plan, to see where your project will be in the coming period and where it looks to be after five years, for example. Select tasks according to your vision, so with time and with the experiences that will come your way in your work you will determine what is useful to you and what is useless, in the end, you will determine the most effective way to reach that success story. Choose a special name for yourself and make it a brand and work on focusing it on the minds of others through a well-thought-out marketing plan. 3

By: Youssef Al Nuaimi

Have you decided to break into the world of private business? Do you yearn to become a business entrepreneur? Do you have the passion and ambition to go through the experiment? If your answer is yes, we will quickly show you steps that may help you to break into this world strongly. First of all, you have to realize that each experience has its own specificity, what applies to others may not apply to you, and what we provide to you is merely a general line that you will add to it through your personality, ambition, experience and self-confidence, So strive for your experience to be a beacon for others, develop your information and skills in manufacturing knowledge, business plans, management and business skills, and public relations.

34 | RAKBUSINESS

DREAM AND ARM WITH HOPE AND AMBITION Do not give up your dreams and make your ambition less than your dreams, arm with hope and longing for success. The fun of life lies in breaking into odds and adventures, know that entrepreneurs are not arbitrarily risking, but they always calculate the consequences of going into such adventure. 4

SEEK SUCCESS NOT PROFIT Be ethical and disciplined and be committed to your community and to others so that you become a great entrepreneur and earn a large foundation for your project. You must have a clear vision, a clear plan and clear goals, note all that clearly and then go back to read what you noted from time to time. Set your goals, mark your Path from where you start, do not rush for it will tire you, try to approach your target patiently, seek success with merit and do not seek and chase material gains and strike down all values and principles.

BE BRAVE Start with passion, be careful, initiate with confidence, persist with determination and take the chance to be an entrepreneur you have to remove the word “failure” from your dictionary, no room for failure despite all odds that you may encounter, fear is a major cause for business failure. Believe in your idea and trust in the inevitability of its success, go ahead and carry out all your project plans because success is the ally of the brave. 6

BE CREATIVE AND INVENTIVE: It is useful to realize that you don’t necessarily have to offer something that does not exist in order to become distinct and successful and gain people’s approval, the most important challenge is to provide an existing service or product and add to it what attracts others and impresses them. 7

FOCUS ON COMPETITORS AND CUStomers There are two prominent poles that you must be at one distance from each other and do not underestimate the importance of each, they are your competitors at work and the target customers for your project, search for all about your competitors, their services, offers, how and when they offer it, their reputation and their presence in the market, study and search for all the details of your competitors, their strengths and weaknesses, look for ways you can overcome them, learn from their strengths and take advantage of their weaknesses in your favor, on the other hand it is also necessary to study the behavior of the targeted customers and what points will enable you to attract them and divert their attention to your products and away from other products, work on their loyalty and not just their satisfaction, offer your products to them in different creative and attractive ways, always work on modernization and keeping up with their requirements. Finally, your success as a leader stems from your belief in yourself, your thinking and your abilities, and therefore you have to take out the potentials inside you and unleash it to fly high.

ENTREPRENEURS SKILLS AND TALENTS

BEST SELLER BOOKS

1 2 3 4

Many people seek to enter the world of investment in the hope of getting rich quickly, but keep in mind this world is not easy and must be armed with science, knowledge and of the experiences of others to take advantage of their successes and avoid the pitfalls they had been subjected to, here we offer the best five books Leading you to enter the world of investment and wealth in a deliberate and purposeful. THE INTELLIGENT INVESTOR BY BENJAMIN GRAHAM The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham’s philosophy of ‘value investing’ which shields investors from substantial error and teaches them to develop long-term strategies. Over the years, market developments have proven the wisdom of Graham’s strategies. This revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today’s market, draws parallels between Graham’s examples and today’s financial headlines, and gives readers a more through understanding of how to apply Graham’s principles.

THE RICHEST MAN IN BABYLON BY GEORGE S CLASON Countless readers have been helped by the famous ‘Babylonian parables’, hailed as the greatest of all inspirational works on the subject of thrift, financial planning, and personal wealth. These fascinating and informative stories set you on a sure path to prosperity and its accompanying joys. Acclaimed as a modern-day classic, this celebrated bestseller offers an understanding of -and a solution to- your personal financial problems that will guide you through a lifetime. son Zweig, whose perspective incorporates the realities of today’s market, draws parallels between Graham’s examples and today’s financial headlines, and gives readers a more thorough understanding of how to apply Graham’s principles. SECRETS OF THE MILLIONAIRE MIND BY T. HARV EKERCOUNTLESS T. Harv Eker explains how you too can master the inner game of money so that you will not only achieve financial success but keep it once you have it. Using breakthrough techniques T. Harv Eker shows you how childhood and family experiences and inner mental attitudes shape your view of money. Armed with insights provided in this book, you can begin taking action to transform your financial self, quickly and permanently. THE RULES OF WEALTH BY RICHARD TEMPLAR The Rules of wealth are the guiding principles that will help you generate more money, handle it more wisely, grow it more effectively, and use it to live a happier, more fulfilling and comfortable life. In this new edition of the worldwide bestseller, Richard Templar has added 10 brand new Rules to make your life even more rewarding. MILLIONAIRE EXPAT BY ANDREW HALLAM A handbook for smart investing, saving for retirement, and building wealth while overseas. This book provides savvy investment advice for everyone to help you achieve your financial goals. Whether you’re looking for safety, strong growth, or a mix of both, index funds are the answer. Low-risk and reliable, these are the investments you won’t hear about from most advisors. Warren Buffett and Nobel Prize winners agree that index funds are the best way to achieve market success—so who are you ready to trust with your financial future?

Email: dubai@kinokuniya.com Tel: +971 4434-0111 RAKBUSINESS | 35

ENTREPRENEURS SKILLS AND TALENTS

BAD

HABITS TO

AVOID

USING MOBILES Many employees tend to use their mobile phones during duty, and receive personal calls from time to time, using loudspeakers to check voicemails. This causes a lot of inconveniences, especially for departments whose work requires focusing and attention. Other employees may snoop on their colleaguesâ&#x20AC;&#x2122; desks while making phone call 2

By: Zeinab Shiha

The work environment requires a clear approach and style that we must adhere to in order to achieve the institution objectives. Such an approach should be imposed over all staff members from the lowest to the highest functional level. Although each institution has a specific policy pursued within the working environment, most of them share certain foundations that canâ&#x20AC;&#x2122;t be abandoned or overlooked. However, some employees act carelessly and practice bad habits during working hours and repeat it daily; which become an imposed routine that negatively affects productivity and colleagues performance, and accumulates over time. Some of these habits include: 36 | RAKBUSINESS

GRUMBLING Employees may face difficult situations during work which affect their mental state; however, they should not turn every small and trivial situation into a big problem, and begin grumbling and complaining. This spreads negative energy around, which affects the working environment and reduces productivity. 3

CHATTING Chatting and making conversations, is another bad habit, which may turn into an addiction and distract employees from getting work done. Rumors and personal matters, could easily be spread, which may undermined reltions, work environment.

EATING HABITS Eating while working, may result in may inconvenience and discomfort to employees and customers, due to odour and bad ventilation, especially in a closed work environment. Some employees may use microwave ovens to heat food. Employees should avoid bad eating habits and noisy chewing . 5

PERSONAL HYGIENE Personal hygiene, cleanliness and elegance, are essential matters to everyone. Some people may neglect this due to preoccupation, and carelessness, attending work in an inappropriate appearance and shape. This gives a bad impression to clients and colleagues. Bad personal hygiene habits include: sweat odour, scattered dandruff, bad breath, untrimmed beard and nails.

AVOID BAD HABITS, IMPROVE PERFORMANCE, ATTITUDE, AND PROFESSIONAL CAREER

TECHNOLOGY

NEARLY HALF OF CIOS PLAN TO DEPLOY ARTIFICIAL INTELLIGENCE Meaningful artificial intelligence (AI) deployments are just beginning to take place, according to Gartner, Inc. Gartner’s 2018 CIO Agenda Survey shows that 4% of CIOs have implemented AI, while a further 46% have developed plans to do so. “Despite huge levels of interest in AI technologies, current implementations remain at quite low levels,” said Whit Andrews, research vice president and distinguished analyst at Gartner. “However, there is potential for strong growth as CIOs begin piloting AI programs through a combination of buy, build and outsource efforts.” As with most emerging or unfamiliar technologies, early 38 | RAKBUSINESS

adopters are facing many obstacles to the progress of AI in their organizations. Gartner analysts have identified the following four lessons that have emerged from these early AI projects. 1

AIM LOW AT FIRST “Don’t fall into the trap of primarily seeking hard outcomes, such as direct financial gains, with AI projects,” said Mr. Andrews. “In general, it’s best to start AI projects with a small scope and aim for ‘soft’ outcomes, such as process improvements, customer satisfaction or financial benchmarking.”

TECHNOLOGY STUDIES

Expect AI projects to produce, at best, lessons that will help with subsequent, larger experiments, pilots and implementations. In some organizations, a financial target will be a requirement to start the project. “In this situation, set the target as low as possible,” said Mr. Andrews. 2 FOCUS ON AUGMENTING PEOPLE, NOT REPLACING THEM Big technological advances are often historically associated with a reduction in staff head count. While reducing labor costs is attractive to business executives, it is likely to create resistance from those whose jobs appear to be at risk. In pursuing this way of thinking, organizations can miss out on real opportunities to use the technology effectively. Gartner predicts that by 2020, 20% of organizations will dedicate workers to monitoring and guiding neural networks.

PLAN FOR KNOWLEDGE TRANSFER Conversations with Gartner clients reveal that most organizations aren’t well-prepared for implementing AI. Specifically, they lack internal skills in data science and plan to rely to a high degree on external providers to fill the gap. 53% of organizations in the CIO survey rated their own ability to mine and exploit data as “limited” (the lowest level). Gartner predicts that through 2022, 85% of AI projects will deliver erroneous outcomes due to bias in data, algorithms or the teams responsible for managing them. “Data is the fuel for AI, so organizations need to prepare now to store and manage even larger amounts of data for AI initiatives,” said Jim Hare, research vice president at Gartner. 3

4 CHOOSE TRANSPARENT AI SOLUTIONS AI projects will often involve software or systems from external service providers. It’s important that some insight into how decisions are reached is built into any service agreement. “Whether an AI system produces the right answer is not the only concern,” said Mr. Andrews. “Executives need to understand why it is effective, and offer insights into its reasoning when it’s not.” Although it may not always be possible to explain all the details of an advanced analytical model, such as a deep neural network, it’s important to at least offer some kind of visualization of the potential choices. In fact, in situations where decisions are subject to regulation and auditing, it may be a legal requirement to provide this kind of transparency.

HALF OF UAE RESIDENTS WOULD GIVE UP SOCIAL MEDIA, FOR AN EXTRA HOUR IN BED Most people in the UAE get an average of seven healthy hours of sleep a night, yet we still yearn for more according to a poll conducted by much-loved Swedish home furnishing retailer, IKEA. Work stress, kids and technology came out on top when people were asked why they were missing out on sleep. But the most revealing statistic showed that 48% would give up social media for an extra hour in bed each day, with nearly one in four saying they would give up their own partner! Technology features heavily in our sleep and bedroom habits; half of the respondents admitted that they look at their phone before they speak to their partner in the morning. Despite getting the required amount of sleep each night, nearly half wake up in the night regularly. The poll also revealed that one in three believe they miss out on many hours of sleep and if they could, they would take back an equivalent of two and half weeks’ worth of sleep a year. However, bedtime rituals vary greatly from person-to-person; from reading (17%) to meditation (18%) and music (14%) to showering (6%), however nearly a third don’t have any ritual to help them nod off.

ONE THIRD OF RESIDENTS DO NOT HAVE ENOUGH TIME TO TAKE LEAVE FROM WORK According to a study carried out by British Airways, an overwhelming 62% of UAE residents revealed they had leftover holiday or leave allowance at the end of 2017. The results of the survey indicated that more than a third of the respondents felt that they were very busy and did not have time to take leave from work, while more than one in five people felt guilty when using the whole holiday allowance. The survey also revealed that a two-week vacation abroad for a full-fledged tourist experience at destination was just a dream for 24% of residents who said they were not allowed to take long leave. In addition, 31% of the working residents surveyed said they chose not to go on a two-week vacation of their own volition, fearing the amount of work that might accrue during their absence. while 63% wished they spent longer in their destination and 25 % claimed they didn’t see everything they wanted to. Contrastingly, over a third of employed adults in the UAE use their leave allowance to stay at home. Family commitments, DIY and personal admin are the top reasons for taking individual days off. RAKBUSINESS | 39

It is a huge record in which all transactions of this currency are recorded in private and confidential databases called ‘The Block Chain System’.

ENCRYPTED CURRENCIES.. THE NEW GAME OF PREDICTIONS UNDER THE ABSENCE OF EXPERTS

By: Nahida Al-Futtaim

DIGITAL OR ONLINE CURRENCIES ARE DIGITALLY ENCRYPTED CURRENCIES WITH SPECIAL KEYS THAT CAN’T BE READ EXCEPT BY ITS OWNERS, IT WORKS ON THE BASIS OF PEER TO PEER, NO MEDIATORS IN ITS TRANSACTIONS. BETWEEN CUSTOMERS AS IT’S A FREE CURRENCY THAT REQUIRES NO MEDIATORS, IT IS DESIGNED TO BE TREATED THROUGH THE DIGITAL WORLD, WITH NO EXISTENCE IN THE REAL LIFE IN SPITE OF HAVING A TRUE VALUE OF WHICH YOU CAN USE TO BUY OR SELL ANYTHING, IN ADDITION TO THE POSSIBILITY OF TRANSFORMING IT INTO REAL CURRENCY. 40 | RAKBUSINESS

DIGITAL CURRENCY HISTORY: The beginning of the digital currency history started in 2008, through a research paper by a person named Satoshi Nakamoto. He explained in the research paper that he wants to create a special currency for transactions on the Internet. He pointed out that it will be an electronic financial system, based on direct interaction between users, and there is no intermediary among them and also not interfere with any Control operations. The first electronic currency, Bitcoin, was created in 2009, Nakamoto obtained an MIT license for an open source program. This research has received positive results and very widespread when customers found it easy to deal electronically. The trading system of this currency depends on two important points: The first point is that there are electronic signatures for each property of the currency to track ownership. The second point is the existence of a complex and uncontrollable special system, consisting of working on confidential data to protect customers from fraud and theft.

DIFFERENCE BETWEEN THE DIGITAL CURRENCY AND THE CASH: The digital currency differs from the physical, that exhibit characteristics similar to the physical currencies, but allows instant transactions and unlimited transfers, such as conventional funds. These currencies can be used to trade goods and material services, but can also be limited to specific communities, for example buying a game through the Internet. Digital currency is a function of encrypted numeric keys, only can ready by those who have decryption keys. It operates on a peerto-peer basis, so there is no intermediary in trading. There is no broker in dealings between customers because it is a free currency and does not need an intermediary. It is designed to trade in the virtual world and does not exist on real life, but it has a real value where you can buy or sell anything along with it, eventhough you can turn it into real paper coins. IMPORTANCE OF CURRENCY: Digital currencies did not receive a gold or foreign currency cover, and has nothing to do with central banks. Today, there are alot of electronic currencies in circulation, plus more than 800 other currencies at different stages of willingness to trade. Some of which may be fictitious; because of a lack of regulatory standards. The design is attributed to an unidentified person, Satoshi Nakamoto. The first currency deal was made in January 2009 between Nakamoto and Hal Fini, at exchange rate was 1 bitcoin a formation of $0.001 In order to understand what happened with the composition, the developments in the area of encrypted currencies should be tracked, and the following are the most important developments that have helped to bring the encrypted currency to its present status. REVOLUTIONARY INDUSTRY: It is clear that the digital currency is constantly escalating, and the value rises since the beginning of its emergence to date. When it happened in Florida that a Pizza Shop owner offered to sell the world’s largest pizza at this time for $10 million, the

TECHNOLOGY DIGITAL WORLD

4 APPS TO ORGANIZE YOUR TIME Perhaps the only thing that still has a lot of importance despite all the progress of the aspects of our lives is time, over the ages time has gained great importance, and today, technology has not lost sight of its solutions to organize, manage and benefit from it, the statement “your time is in your pocket” would fully apply on the below applications, which will help you organize and well manage your time, and we took into consideration to be free and available for download on both Android and iOS.

young programmer Laszlo Hanyecz has offered 10,000 bitcoins to the owner, who accepted it, and received the amount on his e-wallet. In main time the pizza shop owner became on of the world’s richest due to the increase of the Bitcoin rate. FUTURE DIGITAL CURRENCY: The digital currencies it is impossible to erase, as the need to it is huge, where it is satisfies the demands of individuals and bodies significantly, which led countries and banks to adopt the idea of digital currencies, then it began to spread where it became the talks of the economic forums such as ‘Davos Forum’ and the ‘World Summit of Governments’ in Dubai. The digital coins are expected to become the first currency in the future, especially the bitcoin, which statistics indicate that there are more than 10 million users at the moment, where it comes on top of the digital coins exists in the markets. The financial sector tycoons also started investing in the bitcoin, Goldman Sachs invested about $50 million in Circle Internet Financial, an emerging company that provides storage services and bitcoin trade. blockchain program launched as the first global stock exchange to deal with the blockchain system and not only the use of the BIOC on the stock exchange, but it was spread to shops, hotels, clinics, etc. on the other side of the Arab countries, UAE was the first Arab country to use the cryptocurrency system, and allowed it to reach their market trades.

IN CONCLUSION: Everyone repeats the same questions about the percentage of money they’ve earned with physical currency. which of these coins will provide them with a Ferrari or mansions, the only logical answer is that there is no analyst or expert to predict this market. Virtual currencies are neither fashion nor heresy that will pass over time, ignoring this technology is similar to ignoring the internet in the early 1990s. It will flourish in the same footsteps, but there are still a lot of catastrophic processes and losses now and in the future. People should start investing in virtual currencies but : 1. There are many fraudulent businesses that are stealing money amidst hysteria, especially as these coins are still in their infancy and are not organized by most governments. 2. The default currencies do not have any proprietary rights or assets to show the purchase, and when a person purchases these coins for money he does not receive any share in the company’s currency profits. it is difficult to set the context for virtual coins in this period of speculation, host that these coins are the beginning of a possible revolution in how information can be handled and verified around the world. Ultimately, it’s just a big game of predictions, depending on the investor’s ability to speculate, so it requires read and learn before entering this world. @nahidaalf

TOGGL... This application calculates the time it takes to accomplish a task that you specify, and thanks to the ‘Cloud’ technology, a single account can access all data and reports from your smartphone, PC, or the App web version on the Internet.

TRELLO... It’s a web-based project management application that provides instant visibility of the project and is flexible, easy to use and enables you to see everything from the overall picture to the minor details, Trello application is an effective tool for communicating with your team members, helping you to organize work tasks and increase your productivity.

POCKET... With this app, you can add everything you encounter on the web and do not have time to read it, whether it’s a page, an article, a video, or a picture and go back and see it later without having to be connected to the internet, including video. It also selects and filters the most interesting stories and topics on the Internet.

WUNDERLIST... One of the most prominent applications for managing tasks, organizing time and recording lists with dates of implementation, this application enables you to share these tasks with others to collaborate in planning and accomplishing it.

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THE FERRARI 488 PISTA... TRACK-LEVEL POWER AND DRIVING EXHILARATION FOR THE ROAD The Ferrari 488 Pista is powered by the most powerful V8 engine in the Maranello marque’s history and is the company’s special series sports car with the highest level yet of technological transfer from racing. In fact the name, meaning ‘track’ in Italian, was chosen specifically to testify to Ferrari’s unparalleled heritage in motor sports. Technically, the Ferrari 488 Pista encompasses all of the experience built up on the world’s circuits by the 488 Challenge and the 488 GTE. For over 25 years, Maranello has been organising the most prestigious of all one-make championships, the Ferrari Challenge, in which over 100 drivers split into three continental series do battle at the wheel. Last year saw the introduction of the 488 Challenge, the first model in the series to be equipped with a turbo engine. The Ferrari 488 GTE is instead the car fielded in the FIA World Endurance Championship, the pinnacle of GT racing, where it has won two consecutive GT Manufacturers’ titles and no less than five titles in total since the championship’s inception in 2012. Thanks to wins in both the Pro and Am categories, the 488 GTE has taken no fewer than 35 out 42 | RAKBUSINESS

of the 50 races run to date. The new car’s engine adopts numerous solutions from that of the 488 Challenge and its power output has been increased to 720 cv. It is also lighter, thanks to new titanium con-rods and carbon-fibre intake plenums. The inverted radiator cooling system is also derived from the Challenge with the radiators raked rearwards (rather forwards as in the 488 GTB), improving cooling and maintaining optimal performance levels even in high thermal stress situations. As with the three previous special series, the Challenge Stradale, 430 Scuderia and 458 Speciale, this new berlinetta is the perfect marriage of extreme performance and track car-style handling. The vehicle dynamics were designed for unique driving feedback and to make the car’s full potential available to all drivers, professional or otherwise. Specific vehicle controls were developed with this in mind, first and foremost being a new oversteer management system usable in the manettino’s CT-OFF position and designed to make the car’s performance on the limit easier to reach and control.

CYLINDER

720

HORSE POWER

1280

KG WIEGHT

350 KM/HR

2.85

SEC. FROM 0 TO 100

TECHNOLOGY NEWS

THE NEW YARIS... THE PERFECT VEHICLE FOR SME Al-Futtaim Toyota, leader in sustainable mobility since 2008, launched the new stylish Yaris, marking a new advanced and emotional design for the compact sedan. The Yaris sedan offers enhanced superior comfort and advanced safety features in addition to the same uncompromised blend of quality, durability and reliability. Delivering a dynamic driving experience, the new Yaris comes with a 1.5-liter four-cylinder engine can churn out a maximum output of 105 hp and 14.3 kg-m of torque and is mated to the Multidrive 7S transmission to offer a smooth shifting experience with excellent fuel efficiency. Available across all Al-Futtaim Toyota showroom in the UAE for AED 59,900.

MICROSOFT SURFACE LAPTOP... NOW IN UAE It is an ideal combination of all features designed to meet the needs of Microsoft customers, including beauty, performance, multi-functionality, and security features. This Windows 10 machine has a very light weight of only 1.25 kg, with a measurement of up to 14.47 mm at its thickest point. It also has a seventh-generation Intel Core processor, while its battery has a high card that allows 14.5 hours of continuous use, while the device’s RAM contains 16 GB with SSD internal storage of 1TB. The price of the Laptop comes from AED 4199

BUILT FOR THE WAY WE COMMUNICATE TODAY Samsung Gulf Electronics Co. introduced to the UAE the Samsung Galaxy S9 and S9+, the smartphones that reimagine the way people communicate, share and experience the world. Made for an age in which consumers increasingly communicate and express themselves more with images, videos and emojis, the Galaxy S9 and S9+ drive innovation with Samsung’s advanced camera. Redesigned with a new Dual Aperture lens that powers an innovative low light camera, Super Slow-mo video capabilities and personalized AR Emoji, the Galaxy S9 and S9+ ensure users do not miss a moment and make their everyday epic. . Prices start from 2099 till 3899 AED

AIR ARABIA SHAREHOLDERS APPROVE 10% CASH DIVIDEND Air Arabia shareholders approved the distribution of 10% cash dividend for the financial year ending December 31, 2017 at the company’s annual general meeting (AGM) in Sharjah. The dividend, which is equivalent to 10 fils per share, mirrors another year of sound financial performance for the award-winning low-cost carrier. The recommendation of the board of directors follows the airline’s strong financial performance in the year ending December 31, 2017, which recorded a net profit of Dh662 million, an increase of 30% compared to 2016. During the AGM, the assembly approved the report of the company’s auditors for the financial year ending December 31, 2017, as well as the balance sheet and profit and loss accounts for the same period. The board of directors and auditors of the company were also discharged from liability for the financial year ending December 31, 2017, while auditors for the next fiscal year were appointed and their remuneration fixed. RAKBUSINESS | 43

TOURISM

HH SHEIKH SAUD BIN SAQR ATTENDS THE OPENING

NEW VIEWING DECK PARK AFFORDS MOUNTAIN-HIGH VISTAS OF RAK Ras Al Khamah , the adventure Emirate, has further increased its appeal for day trippers, stayactioners and holidaymakers with the opening of its new Viewing Deck Park, close to the summit of Jebel Jais, the UAE’s highest mountain. The opening was attended by His Highness Sheikh Saud Bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah and other dignitaries who experienced everything the new viewing park has to offer. It features seven viewing decks complete with twelve binoculars to enjoy superb vistas of the Arabian Gulf and the deep, rocky Al Hajar Mountain valleys all from 1,250me44 | RAKBUSINESS

tres above sea level. The park is seen as another key milestone for Ras Al Khaimah’s Vision 2019 tourism strategy, which aims to attract one million visitors by the end of 2018. The attraction will serve tourists and residents looking to enjoy the stunning mountain scenery, as well as hotel guests and day-trippers who are visiting Jebel Jais to experience the World’s Longest Zipline and Via Ferrata. Open from 8am to 8pm on weekdays and 8am to 11pm on weekends, the 22,730 square metre park is expected to further increase the popularity of the spectacular Hajar Mountains.

www.rakbuiness.com coming soon

RAS AL KHAIMAH NEW ZIPLINE DECLARED WORLD RECORD BREAKER Ras Al Khaimah has achieved a GUINNESS WORLD RECORDS title with its latest adventure tourism product – ‘Jebel Jais Flight: The World’s Longest Zipline’. The official certification was handed to HH Sheikh Saud Bin Saqr Al Qasimi, Member of Supreme Council and Ruler of Ras Al Khaimah, by Hoda Khachab, the official adjudicator from Guinness World Records. The Ruler’s son HH Sheikh Ahmad bin Saud bin Saqr Al Qasimi, Chairman of RAK Hospitality, was the first to trial the new zipline this morning, following the official certifi46 | RAKBUSINESS

cation by Guinness World Records. “This is a great achievement for Ras Al Khaimah’s international tourism ambitions,” said Haitham Mattar, CEO of Ras Al Khaimah Tourism Development Authority. “We are now receiving our largest-ever number of visitor arrivals and are confident that Jebel Jais Flight: the world’s longest zipline, will earn the UAE’s emirate of Ras Al Khaimah considerable recognition on the local, regional and global stage and propel the destination into the major leagues of global adventure tourism. The Jebel Jais

Flight will become Ras Al Khaimah’s flagship tourism product and will cement Jebel Jais as the adventure tourism hub of the Middle East. We are expecting to see an increasing number of adventure tourists coming from across the globe to try this bucket list experience.” The world’s longest zipline, measuring 2.83 kilometers - the equivalent to over 28 soccer fields, and spanning the chasm of Jebel Jais, the UAE’s largest mountain peak at over 1,680 metres above sea level, opened to the public on February 1st, and is expected to achieve a strong following among thrill seekers and adrenaline junkies from across the world, who are interested in extreme adventure activities. The Ras Al Khaimah zipline is being operated by Toroverde Ras Al Khaimah, the world’s most experienced zipline managers.

TOURISM ENTERTAINMENT

ZIPLINE IN NUMBERS

02.83 KM

1680

METERS ABOVE SEA

150.00 KM/HOUR

6000

KILOS OF WIEGHT

100000 PERSONS/YEAR

650.00 AED/PERSON

“Toro Verde brings to Ras Al Khaimah immense zipline management experience earned through previous projects in Central and South America, including Toro Verde Puerto Rico – the ‘Monster’ which, at 2.2 km previously held the zipline record now claimed by this ambitious emirate,” said Ricardo Lizano, COO of Toro Verde. Delivery of the zipline, which features a steel cable weighing more than six tonnes and is suspended 1,680 metres above sea level, has been in the planning phase for over a year. The process involved extensive feasibility studies, master-planning, comprehensive surveys, soil tests and construction simulations. Maintaining sustainable environmental practices within all construction acts, strong anchor holes were drilled into the rugged Hajar Mountains that alone took over six months. Thrill-seekers will be suspended above the mountain as they prepare to take the flight headfirst in a ‘superman’ style position. The experience will see participants fitted with a special suit and equipment for the adventure, with the longest flight itself taking approximately two to three minutes. Once completed, guests will finish the bucket list flight on a suspended landing platform – unique in the world - where they will be transferred to a second line, measuring in at 1 km, to complete their journey back to the ground. “It actually comprises two main zipline cables, allowing friends and family members to experience and race together, adding to the fun and competitiveness of the facility. Zipline pilots will experience a flight like never before while being secure and safe. While the time

and speed they complete the flight in is dependent on weight and weather conditions, the whole experience is expected to last around two to three minutes, with top speeds reaching between 120 and 150km per hour. We anticipate the attraction accommodating a rider every five minutes on the two zip lines, equating to approximately 200 people per day, and around 100,000 per year,” explained Jorge Jorge, CEO of Toro Verde RAK. “We also believe given its location in Jebel Jais, which is traditionally 10 degrees cooler than average UAE temperatures, we can operate during the summer months,” added Jorge. Talal Omar, The Country Manager for Guinness World Records MENA, said “We have witnessed countless achievements in the Middle East, and as the global authority on record-breaking we are always proud to be a part of such great feats every day. Today’s event highlights an extraordinary attraction that now puts Ras Al Khaimah with UAE as a global primary destination.” The launch of the world’s longest zipline is another milestone in Ras Al Khaimah’s campaign to transform the emirate into the region’s adventure and activity tourism hub. With the emirate benefitting from diverse landscape – including the Hajar Mountains and Jebel Jais – it has already built a following amongst walkers, hikers and cyclists with the campaign taking a leap forward in 2016 with the opening of the highly successful Jebel Jais Via Ferrata (Iron Path), hiking, climbing and ziplining product.

ADVENTURE CONDITIONS There are no age restrictions on ‘pilots’ but the requirements are a maximum weight of (150 kg) and minimum weight of (45 kg) for ‘fliers’ who must be at least 120 cm tall. The price is AED650 per rider. For more information on, and booking for, Jebel Jais Flight, please log on to: toroverdeuae.com More information about Jebel Jais and its active adventure tourism offering is available on www. jebeljais.ae

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HOURS

IN RAS AL KHAIMAH

RAS AL KHAIMAH OFFERS A SERENE, NATURAL ENVIRONMENT, ADVENTURE AND RELAXATION AWAY FROM THE HECTIC AND BUSY LIFE OF THE CITIES. TOURISTS AND VISITORS, WILL ENJOY INTERESTING AND HISTORICAL PLACES, TOGETHER WITH THE RICH CULTURE, AND AUTHENTICITY OF THE ARAB EXPERIENCE. HERE, WHAT IS THE ACTIVITIES YOU CAN ENJOY IN 24 HOURS: 48 | RAKBUSINESS

EVENING: TRADITIONAL ARABIC DINNER Head to your favorite hotel and enjoy an enchanting evening and delicious traditional food. Waldorf Astoria - Ras Al Khaimah, Rixos Bab Al-Bahr and Al-Marjan Island Resort and Spa offer a spectacular view of the sandy beaches, among others. Enjoy delicious Arabic dinner and the original taste of traditional Emirati Magbos, Thareed (thaw), Harees (mash), dishes at Al Fanar Heritage Restaurant, or Yansoon Restaurant with on Ras Al Khaimah Al Qawasim Corniche.

Have lunch in any of the international cuisines, Umi restaurant in Waldorf Astoria hotel offers different menus of delicious Asian food and Sushi. After a short break, don’t miss the chance to enjoy the charming beaches, and swimming in the warm waters of the gulf. Ice Land waterpark provide much fun and various water games. Experience the thrill of Tarzan boat in ‘Doubletree by Hilton Resort & Spa Marjan Island’, and trampoline jumping platforms and jumping boards at a height of 14 feet. This experience of excitement is inevitably and unforgettable.

MORNING: IN THE DELIGHTFUL AMBIENCE OF JAIS MOUNTAIN Take advantage of early morning, to watch the amazing sunrise from the highest peak in UAE. Enjoy the exciting scenery of Jais mountain, safe biking, and the fresh morning breeze. Along the way to Jais mountain, explore the historical sights, settlements and Dhaya fort among farms and palm trees.

AFTERNOON TEA The day is almost over! Pick one of the beachfront cafes or restaurants in Al Marjan Island, or Mina Al Arab and enjoy the first moments of sunset.

AFTERNOON: WATER ACTIVITIES FUN

TRADITIONAL MARKETS Before heading home, you have to visit the traditional markets, in the heart of the city of Ras Al Khaimah. Explore the fun of shopping while walking through the streets and alleys. Other than in the big shopping

TOURISM DESTINATIONS

NORTHERN EMIRATES ESCAPE Enjoy a full day on the beach at the Hilton Ras Al Khaimah Resort and Spa, which stretches on a 1.5 km beach, includes a lunch buffet, an unlimited number of drinks and a banana boat ride, free access to the children’s club and a 20% discount on spa treatments. When: Everyday till May 15th. Price: AED 695 for a family of four. Book: 072065711 or hossam.ibrahim@hilton.com

THURSDAY’S BEACH BBQ NIGHT

Attention to all Meat Lovers! Come and join us at “Turtle Beach” at AlMarjan Island resort and spa to relish the finest cuts flame grilled by the sea!Enjoy the cold weather with bonfire while our in-house DJ is breaking the beats! When: Every Thursday , 7 pm Price: 50% discount for kids from 6-12 years old. Book: 072036666, or ha0d2-fb3@accor.com

EXCITING ACTIVITIES FOR EVERYONE

malls, you can bargain the price with the seller; and you may get amazing deals. Don’t miss the fun of tasting Ice cream or cocktail juice served at ‘Ashuk’, which is one of the oldest ice cream and juice shops in Ras Al Khaimah. A BEAUTIFUL STAY The ‘DoubleTree by Hilton Resort & Spa Marjan Island’, is located 50 minutes away from Dubai International Airport. The resort offers 723 spacious and contemporary guestrooms, suites completed with modernity and luxury of our time, all overlooking the 650 meter white sandy beach and 7 swimming pools. With 14 restaurants and bars to choose from, and two spas including ‘ladies only’ spa. The resort boasts of a kids club with climbing wall for active kids and Arcade Zone, in addition to an extensive outdoor playground. The Pirate Boat Aqua Zone is guaranteed extra fun for the whole family. The new Tarzan boat which is the largest in the UAE is set to entice thrill seekers as the ultimate water playground. Book: Tel: +971 7 203 0000

Enjoy a one-night stay in a traditional tent and savor the grilled dishes and drinks in a lively night under the clear sky of Bin Majid Hotel, sharpen your energy with yoga activities at sunrise and prepare your morning activity with a breakfast prepared for you. When: Every Friday from 2pm. Price: AED 599 for 2 adults. Book: 0561845850 or marwa.aldehneh@binmajid.com

THE GOURMED BRUNCH

Inspired by fresh herbs and sunkissed of theMediterranean flavors, the award-winning Basilico Restaurant serves a rich buffet of diverse dishes, cooked live in an open kitchen, complimented by breathtaking views of the Arabian Gulf. When: Every friday from 12 nn-4pm Price: AED 255 including service and tax Book: 07206 6000

RIXOS BAB AL BAHR/DELUXE CABANA

Take your beach experience to a new level and indulge in an Exclusive Cabana Beach Package, which caters up to 2 guests and includes sunbeds with towels, fresh fruit plate, in-cabana lunch, free flowing icecream service and soft drinks. When: from 9 am to 6pm Price: AED 450 for couple Book: 072020000 orbabalbahr@rixos.com

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