Adnan Zubairi is the chief executive of DXBuy, a B2B e-commerce platform for small and medium-sized businesses in the retail, trade and food & beverage sectors. Mr Zubairi, 34, founded the start-up with his brother Rizwan last year and the site has been available to all UAE businesses since May. The Indian-born entrepreneur is also the co-founder and managing director of Zubairi Plastics Industry, an Ajman manufacturing company. He moved to the Emirates in 2008 and currently lives in Sharjah with his wife; two sons, ages five and two; and parents.
How did your upbringing shape your attitude towards money?
As you mature, you need to slow down, take a more measured approach, start savings sooner than later. But I think when you're young, just jump.
I was brought up in Hyderabad in India. It had its fair share of advantages in terms of valuing money. I saw a lot of poverty around and knew that money doesn’t come easy. The struggle is real for millions of people out there, so it taught me humility and modesty.
But my means were never too restricted. We had our own home and family car. Even though we were considered middle class, having the opportunity to witness the less fortunate made us feel that we were living a luxurious life.
My father really worked hard to make sure he gave us a comfortable lifestyle. He started his own manufacturing company, then expanded and had two companies later on. That’s how we took the initiative; that’s the learning experience that we took from our father.
What was your first job?
Since childhood, I had this desire to be an entrepreneur. I remember when I was just 13, I used to sell computer games to kids in our neighbourhood. And when I went to high school in early 2000 and mobile phones were becoming the new trend, I used to trade those as well.
As a full-time job, I briefly worked for a Business Process Outsourcing unit for a US-based company in Hyderabad. I was paid nearly $350 (Dh1,285) a month. And I was quite happy and satisfied because – more than the money – the exposure and experience were really the plus point for me. It was nearly six months and then I moved on and started a couple of small businesses.
What brought you to the UAE?
I wanted to be entrepreneurial on a global scale and for that I needed to step out of the comfort zone. Dubai was the primary choice because I was always awestruck by the sheer speed of growth and development as a city.
It was August 2008 that we registered our manufacturing company [Zubairi Plastic Industry] and the global financial crisis started to creep in September and October, and then it peaked in January and February of 2009.
I still remember, we had purchased raw materials at around $1,400 per metric ton and by the time it came in, the prices were already at $1,100 and the next month they went further down. Almost 30-40 per cent of the value purchased was lost in the first three months of the business.
So that was the biggest first blow. We were just settling down with the initial teething troubles, and then this kicked in. But it was a good learning experience.
How did you cope financially?
Luckily for us we had financial support from our father. We were almost done with the initial round of investments and then he had to put in another investment – because at that time getting a loan was almost impossible. That’s how we survived. We’ve grown that business from a small start-up with four employees to nearly 85 to 90 people now.
What led you to start DXBuy?
With technological advancements, we've seen e-commerce grow phenomenally in terms of business-to-consumers. And in the markets that we cater to, we saw a good space available in business-to-business (B2B), which is a relatively untapped market in the UAE. In India, Udaan is one of the prominent B2B players in e-commerce and it's considered one of the fastest start-ups to get unicorn status of $1 billion valuation. In China, obviously there's Alibaba and you have Amazon in the US, which has started a business division for B2B.
We went live in the beta phase in December 2019 and in less than six months, we had more than 2,000 businesses with us. The traction has been quite encouraging.
How has Covid-19 affected your business?
Fortunately, it came as a booster for us. We were just in the third month of operations, we were still in a beta phase and suddenly there were a lot of disruptions in the supply chain. And as an e-commerce company, we were available. Our revenue jumped from February to March by close to 60 per cent.
Are you a spender or a saver?
I think of myself as someone who maintains a balance. I don’t spend too aggressively, unless I’m travelling or when I’m on a holiday – that’s when I forget my limits. I won’t compromise on the quality of my life or my children's lives, and occasionally splurge on some luxuries as well. However, I do put in a conscious effort to ensure that I never exceed my needs.
What luxuries are important to you?
I’m not someone who holds luxury very dear. For me, time is a luxury right now. I’ve had a busy work life for many years now and I need to work on having more leisure time.
What kind of car do you drive?
I like German cars so I have a BMW sedan and a Porsche. The BMW sedan was one of my first cars ever and I still have it and I love it.
How do you save?
I don’t have a concrete, sustained savings plan as such. But the plan is to diversify. I invested in some real estate in Ajman, as well as some gold. The gold investment really paid off, but the real estate didn’t do well. I would also like to explore cryptocurrency.
Do you have any financial regrets?
I do have one. I founded a Halal travel start-up [in 2016] and several months into that, I realised it’s not scaling in the way it was expected. So it was becoming extremely challenging. That set me back almost $100,000.
Do you have a retirement plan?
Retirement is not something I’m keen on. I want to be active as long as possible. My ambition is to have financial independence by 40 and then dedicate my time to working towards more meaningful causes that will have a positive social impact. Education is something I’d really like to explore.
What financial advice would you offer your younger self?
If I go back 10-12 years into my career – for me, personally, I’ve been a medium category risk taker – I would tell my younger self to be more aggressive in terms of taking risks. I believe you have to fall to rise, you need to jump to fly, you need to take that leap of faith with full confidence. Don’t be afraid to make mistakes, because you have a long way ahead to correct your mistakes. As you mature, you need to slow down, take a more measured approach, start savings sooner rather than later. But I think when you’re young, just jump.
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
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Company profile
Company: Rent Your Wardrobe
Date started: May 2021
Founder: Mamta Arora
Based: Dubai
Sector: Clothes rental subscription
Stage: Bootstrapped, self-funded
Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
JAPAN SQUAD
Goalkeepers: Masaaki Higashiguchi, Shuichi Gonda, Daniel Schmidt
Defenders: Yuto Nagatomo, Tomoaki Makino, Maya Yoshida, Sho Sasaki, Hiroki Sakai, Sei Muroya, Genta Miura, Takehiro Tomiyasu
Midfielders: Toshihiro Aoyama, Genki Haraguchi, Gaku Shibasaki, Wataru Endo, Junya Ito, Shoya Nakajima, Takumi Minamino, Hidemasa Morita, Ritsu Doan
Forwards: Yuya Osako, Takuma Asano, Koya Kitagawa
MATCH INFO
Euro 2020 qualifier
Croatia v Hungary, Thursday, 10.45pm, UAE
TV: Match on BeIN Sports
STAY%2C%20DAUGHTER
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FIGHT CARD
Bantamweight Hamza Bougamza (MAR) v Jalal Al Daaja (JOR)
Catchweight 67kg Mohamed El Mesbahi (MAR) v Fouad Mesdari (ALG)
Lighweight Abdullah Mohammed Ali (UAE) v Abdelhak Amhidra (MAR)
Catchweight 73kg Mostafa Ibrahim Radi (PAL) v Yazid Chouchane (ALG)
Middleweight Yousri Belgaroui (TUN) v Badreddine Diani (MAR)
Catchweight 78kg Rashed Dawood (UAE) v Adnan Bushashy (ALG)
Middleweight Sallaheddine Dekhissi (MAR) v Abdel Emam (EGY)
Catchweight 65kg Rachid Hazoume (MAR) v Yanis Ghemmouri (ALG)
Lighweight Mohammed Yahya (UAE) v Azouz Anwar (EGY)
Catchweight 79kg Omar Hussein (PAL) v Souhil Tahiri (ALG)
Middleweight Tarek Suleiman (SYR) v Laid Zerhouni (ALG)
UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
THE CLOWN OF GAZA
Director: Abdulrahman Sabbah
Starring: Alaa Meqdad
Rating: 4/5
Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
Afro%20salons
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How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
WHAT IS GRAPHENE?
It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were experimenting with sticky tape and graphite, the material used as lead in pencils.
Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But when they repeated the process many times, the flakes got thinner.
By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment led to graphene being isolated for the very first time.
In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics.
UAE currency: the story behind the money in your pockets
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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Fitness problems in men's tennis
Andy Murray - hip
Novak Djokovic - elbow
Roger Federer - back
Stan Wawrinka - knee
Kei Nishikori - wrist
Marin Cilic - adductor
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
