Mosbah Dannaoui, an industrial engineering specialist, decided to retire early at the age of 50 and started a consultancy in his home country, Lebanon, in 2016. His consultancy helps companies restructure their operations, helping them improve efficiency, problem-solve and obtain certifications.
“However, the situation in Lebanon worsened during the 2018-2019 uprising and again with the Covid-19 pandemic, intensifying financial strains on my family,” Mr Dannaoui recalls.
“With wages falling short and expenses rising, my eldest daughter and son contributed their earnings while my consultancy absorbed the mounting costs. Amid these challenges, I also took on a role as an associate professor at a local university.”
The resulting financial crisis and inflationary pressures in Lebanon forced Mr Dannaoui to seek employment in Saudi Arabia early last year. He lives and works in Riyadh as a quality, health, safety and environment (QHSE) director.
Although the role does not fully align with his experience and offered “below-market” pay, it was a “necessary step” to secure financial stability during uncertain times, he says.
Mr Dannaoui’s wife and three children live in the Lebanese city of Tripoli. He has a bachelor’s degree in industrial engineering from the University of Arizona, Tucson, and a master’s in industrial engineering and mathematics from Texas State University, in the US. In 2019, he completed a PhD in industrial engineering through a correspondence programme from Atlantic International University in Hawaii.
What was your first job and salary?
My career began in 1995 at Future Pipe Industries in Lebanon as a quality control engineer on a monthly salary of $832. I worked there for 13 years. When I quit, I was QHSE manager for the whole group.
I was later offered an opportunity to co-establish a fibreglass factory in Dammam, Saudi Arabia. FPI's refusal to grant me a $500 salary increase led me to take up that offer.
In 2008, I co-founded Tamid Pipes in Dammam, where I assumed the roles of QHSE general manager and board member. In parallel, I expanded my expertise internationally through consulting. I established and led the NSF International office in Abu Dhabi as the manager for the Mena region and advised the marketing and public relations teams at pipe manufacturer Amiantit in Dammam.
By 2014, insufficient funding and a lack of support forced the closure of Tamid Pipes, culminating in my termination without receiving my dues.
Tell us about your current role and salary
I work as a QHSE director for Wetico, a water treatment company that’s a part of Abunayyan Holding in Riyadh. My overall monthly salary is about $10,000 or 38,000 Saudi riyals.
My consultancy business in Lebanon is on a project basis and depends on market demand. At its peak before Covid-19, I would make $3,000 to $4,000 a month.
What are your major monthly expenses?
I spend nearly $5,000 in Lebanon every month. This includes education fees for my children and bills for non-government service providers. We have two electricity bills, one to be paid to the government for supplying power for five to six hours a day, and the other to power generators or solar energy firms. Similarly, we have two separate water bills to be paid. Also, taxes and inflation are high in Lebanon.
In Riyadh, because I live alone, my costs are up to 10,000 riyals a month. This includes 4,500 riyals in rent for a one-bedroom furnished apartment, 3,000 riyals on my car and 2,000 riyals on food.
What do you spend your disposable income on?
Family holidays. We're planning to go to Turkey this summer.
Have you saved for retirement?
I did save for retirement, but I cannot access the money. I retired in 2016 and started my consultancy to keep me going. But banks have stopped us from accessing money in our accounts.
Banks in Lebanon do not allow depositors to take [out] their money. I have close to $400,000 in the bank that I have no access to unless it's a withdrawal of $400 a month. This is why I had to seek employment again in Saudi Arabia.
I don’t manage to save a lot from my current income as most of it is used to cover my needs in Riyadh and my family’s expenses in Lebanon. I save between $2,000 and $3,000 a month for emergencies. This can sustain me for four to five months based on my current expenses.
What asset classes do you invest in?
Not too many. I invested in the stock market in 2016 when I went back to Lebanon. I did not lose a lot of money, but I bailed out.
Have you purchased property in your home country?
Yes, I purchased an apartment in Tripoli for $76,000 in 1996 and have also bought a new apartment in the same city for $240,000.
Do you have any debt?
No. I only owe small amounts of money to my family and friends. My wife does not believe in taking debt to sustain our lifestyle. She encourages my family and me to live within our means.
Have you inherited a sum of money?
I have a substantial inheritance from my father. It is worth nearly $300,000 but it's tied up in real estate. My siblings and I did not split the inheritance because the property market is not stable and none of us is in dire need of cash. My father made his money working as an electrical contractor in Kuwait. He also set up a factory in Lebanon.
Growing up, were you taught to handle your finances?
Yes, my mother is a budgeting queen and my father was also financially aware. They taught us to consider where we spend money. I am also self-taught since I had to learn to manage my income, especially while studying abroad.
What are your financial goals?
To live comfortably. I believe money earned is money to spend. I don’t believe in the idea of keeping it for later, because I've tried that and now my money is stuck with banks.
Do you worry about money?
Yes, because of the uncertainties in the region. But I believe in spending logically and not going overboard. Keep aside money for emergencies.
Do you want to be featured in My Salary, a weekly column that explores how people around the world manage their earnings? Write to pf@thenationalnews.com to share your story
GULF MEN'S LEAGUE
Pool A Dubai Hurricanes, Bahrain, Dubai Exiles, Dubai Tigers 2
Pool B Abu Dhabi Harlequins, Jebel Ali Dragons, Dubai Knights Eagles, Dubai Tigers
Opening fixtures
Thursday, December 5
6.40pm, Pitch 8, Abu Dhabi Harlequins v Dubai Knights Eagles
7pm, Pitch 2, Jebel Ali Dragons v Dubai Tigers
7pm, Pitch 4, Dubai Hurricanes v Dubai Exiles
7pm, Pitch 5, Bahrain v Dubai Eagles 2
Recent winners
2018 Dubai Hurricanes
2017 Dubai Exiles
2016 Abu Dhabi Harlequins
2015 Abu Dhabi Harlequins
2014 Abu Dhabi Harlequins
Killing of Qassem Suleimani
Januzaj's club record
Manchester United 50 appearances, 5 goals
Borussia Dortmund (loan) 6 appearances, 0 goals
Sunderland (loan) 25 appearances, 0 goals
Hili 2: Unesco World Heritage site
The site is part of the Hili archaeological park in Al Ain. Excavations there have proved the existence of the earliest known agricultural communities in modern-day UAE. Some date to the Bronze Age but Hili 2 is an Iron Age site. The Iron Age witnessed the development of the falaj, a network of channels that funnelled water from natural springs in the area. Wells allowed settlements to be established, but falaj meant they could grow and thrive. Unesco, the UN's cultural body, awarded Al Ain's sites - including Hili 2 - world heritage status in 2011. Now the most recent dig at the site has revealed even more about the skilled people that lived and worked there.
Teams
Pakistan: Sarfraz Ahmed (captain), Mohammad Hafeez, Sahibzada Farhan, Babar Azam, Shoaib Malik, Asif Ali, Shadab Khan, Shaheen Shah Afridi, Usman Khan Shanwari, Hasan Ali, Imad Wasim, Faheem Ashraf.
New Zealand: Kane Williamson (captain), Corey Anderson, Mark Chapman, Lockie Ferguson, Colin de Grandhomme, Adam Milne, Colin Munro, Ajaz Patel, Glenn Phillips, Seth Rance, Tim Seifert, Ish Sodhi, Tim Southee, Ross Taylor.
Results:
5pm: Maiden (PA) Dh80,000 2,200m | Winner: AF Al Montaqem, Bernardo Pinheiro (jockey), Ernst Oertel (trainer)
5.30pm: Maiden (PA) Dh80,000 1,200m | Winner: Daber W’Rsan, Connor Beasley, Jaci Wickham
6pm: Handicap (PA) Dh85,000 1,600m | Winner: Bainoona, Fabrice Veron, Eric Lemartinel
6.30pm: Handicap (PA) Dh80,000 1,600m | Winner: AF Makerah, Antonio Fresu, Ernst Oertel
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 | Winner: AF Motaghatres, Antonio Fresu, Ernst Oertel
7.30pm: Handicap (TB) Dh90,000 1,600m | Winner: Tafakhor, Ronan Whelan, Ali Rashid Al Raihe
More Iraq election coverage:
The biog
Favourite films: Casablanca and Lawrence of Arabia
Favourite books: Start with Why by Simon Sinek and Good to be Great by Jim Collins
Favourite dish: Grilled fish
Inspiration: Sheikh Zayed's visionary leadership taught me to embrace new challenges.
If you go
The flights
Etihad and Emirates fly direct from the UAE to Chicago from Dh5,215 return including taxes.
The hotels
Recommended hotels include the Intercontinental Chicago Magnificent Mile, located in an iconic skyscraper complete with a 1929 Olympic-size swimming pool from US$299 (Dh1,100) per night including taxes, and the Omni Chicago Hotel, an excellent value downtown address with elegant art deco furnishings and an excellent in-house restaurant. Rooms from US$239 (Dh877) per night including taxes.
CONFIRMED%20LINE-UP
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Film: Raid
Dir: Rajkumar Gupta
Starring: Ajay Devgn, Ileana D'cruz and Saurabh Shukla
Verdict: Three stars
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20WallyGPT%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2014%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3ESaeid%20and%20Sami%20Hejazi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%3Cbr%3E%3Cstrong%3EInvestment%20raised%3A%20%3C%2Fstrong%3E%247.1%20million%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2020%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%20round%3C%2Fp%3E%0A
The biog
Favourite food: Fish and seafood
Favourite hobby: Socialising with friends
Favourite quote: You only get out what you put in!
Favourite country to visit: Italy
Favourite film: Lock Stock and Two Smoking Barrels.
Family: We all have one!
Hotel Silence
Auður Ava Ólafsdóttir
Pushkin Press
PFA Premier League team of 2018-19
Allison (Liverpool)
Trent Alexander-Arnold (Liverpool)
Virgil van Dijk (Liverpool)
Aymeric Laporte (Manchester City)
Andrew Robertson (Liverpool)
Paul Pogba (Manchester United)
Fernandinho (Manchester City)
Bernardo Silva (Manchester City)
Raheem Sterling (Manchester City)
Sergio Aguero (Manchester City)
Sadio Mane (Liverpool)
The Beach Bum
Director: Harmony Korine
Stars: Matthew McConaughey, Isla Fisher, Snoop Dogg
Two stars
What's in the deal?
Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024
India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.
India will also cut automotive tariffs to 10% under a quota from over 100% currently.
Indian employees in the UK will receive three years exemption from social security payments
India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery
Company%20Profile
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Women’s T20 World Cup Asia Qualifier
ICC Academy, November 22-28
UAE fixtures
Nov 22, v Malaysia
Nov 23, v Hong Kong
Nov 25, v Bhutan
Nov 26, v Kuwait
Nov 28, v Nepal
ICC T20I rankings
14. Nepal
17. UAE
25. Hong Kong
34. Kuwait
35. Malaysia
44. Bhutan
UAE squad
Chaya Mughal (captain), Natasha Cherriath, Samaira Dharnidharka, Kavisha Egodage, Mahika Gaur, Priyanjali Jain, Suraksha Kotte, Vaishnave Mahesh, Judit Peter, Esha Rohit, Theertha Satish, Chamani Seneviratne, Khushi Sharma, Subha Venkataraman
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
RESULT
Arsenal 0 Chelsea 3
Chelsea: Willian (40'), Batshuayi (42', 49')
A%20MAN%20FROM%20MOTIHARI
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Dengue%20fever%20symptoms
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Sustainable Development Goals
1. End poverty in all its forms everywhere
2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture
3. Ensure healthy lives and promote well-being for all at all ages
4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
5. Achieve gender equality and empower all women and girls
6. Ensure availability and sustainable management of water and sanitation for all
7. Ensure access to affordable, reliable, sustainable and modern energy for all
8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation
10. Reduce inequality within and among countries
11. Make cities and human settlements inclusive, safe, resilient and sustainable
12. Ensure sustainable consumption and production patterns
13. Take urgent action to combat climate change and its effects
14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development
15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss
16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
17. Strengthen the means of implementation and revitalise the global partnership for sustainable development
Players Selected for La Liga Trials
U18 Age Group
Name: Ahmed Salam (Malaga)
Position: Right Wing
Nationality: Jordanian
Name: Yahia Iraqi (Malaga)
Position: Left Wing
Nationality: Morocco
Name: Mohammed Bouherrafa (Almeria)
Position: Centre-Midfield
Nationality: French
Name: Mohammed Rajeh (Cadiz)
Position: Striker
Nationality: Jordanian
U16 Age Group
Name: Mehdi Elkhamlichi (Malaga)
Position: Lead Striker
Nationality: Morocco
COMPANY%20PROFILE
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The view from The National
Know your cyber adversaries
Cryptojacking: Compromises a device or network to mine cryptocurrencies without an organisation's knowledge.
Distributed denial-of-service: Floods systems, servers or networks with information, effectively blocking them.
Man-in-the-middle attack: Intercepts two-way communication to obtain information, spy on participants or alter the outcome.
Malware: Installs itself in a network when a user clicks on a compromised link or email attachment.
Phishing: Aims to secure personal information, such as passwords and credit card numbers.
Ransomware: Encrypts user data, denying access and demands a payment to decrypt it.
Spyware: Collects information without the user's knowledge, which is then passed on to bad actors.
Trojans: Create a backdoor into systems, which becomes a point of entry for an attack.
Viruses: Infect applications in a system and replicate themselves as they go, just like their biological counterparts.
Worms: Send copies of themselves to other users or contacts. They don't attack the system, but they overload it.
Zero-day exploit: Exploits a vulnerability in software before a fix is found.
THE%20SPECS
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Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
