As a self-confessed "international gypsy", Giel-Jan Van Der Tol appears to have found a spiritual home in Dubai, where he has been the head of wholesale banking at Emirates NBD since 2011.
"This is a very positive, inspiring environment for a banker, and Dubai is a unique development, building a true financial and commercial centre in just a few decades," he says.
The view from his corner office at the bank's headquarters in Deira shows the full panoply of the emirate's success, from the commercial landmarks of the Creek all the way down to the Dubai International Financial Centre and Burj Khalifa. "It's truly inspiring," he says.
Mr Van Der Tol has plenty in the region to use as a comparison. The Dutchman's early career at ABN-Amro took him all over the region, with spells in Saudi Arabia, Bahrain, Pakistan and Beirut before he was lured to Dubai first as chief executive of Dubai Bank, then with ENBD.
ENBD was formed in 2007 as the "national champion" of the Dubai banking business, but when Mr Van Der Tol arrived, it was a champion with a challenge. The global financial crisis had taken a serious toll on the bank, perhaps to a greater extent than other UAE or regional banks, mainly because of its position as a lender to state-owned and government-related companies.
"Now we're in a healthier condition. We've been working through the restructurings with customers, and working through our own challenges," he says.
Provisions associated with the restructuring of Dubai Inc have run at between Dh3.5 billion (US$952.8 million) to Dh4bn for the past few years at ENBD, but Mr Van Der Tol says confidently: "There will be a distinct improvement this year."
That is good news for the bank and its stakeholders, and comes against a backdrop that he believes is generally benign for the emirate.
"Overall Dubai debts are reckoned to be more than $100bn, and only some of that has been restructured, so there is more to do. But this is an affluent part of the world and the economies are growing, which is more than you can say about America and Europe. It has substantial revenues and the sovereign wealth funds are still investing round the world."
He believes that the big restructurings of 2009-10, which some analysts fear will have to be restructured again in the next couple of years, were "well thought-out restructurings", and that asset values are recovering.
Apart from having responsibility for restructuring, his wholesale banking division also takes in corporate banking, institutional and international banking, investment banking, transactions and Al Watani Al Islami, ENBD's Islamic banking business.
Investment banking in the region has had a tough few years, as the flow of deals in mergers and acquisitions (M&A) has slowed and initial public offerings have been virtually non-existent, at least in the UAE. Here too, Mr Van Der Tol says things are improving, with an injection of vitality from the debt capital markets.
"We've been involved in all the big debt issues of recent months, and we've staffed up to cope with the increase.
"Dubai is well placed to be a centre for international sukuk banking, and we'll play a senior role in that," he says.
Indeed, ENBD itself has tapped the international debt markets, in both conventional and Islamic banking, and could be set to do so again in the near future.
The pressure is on for any local sukuk issuer to list in Dubai, rather than London, the biggest global sukuk market.
Mr Van Der Tol declines to commit the bank to list any future sukuk in Dubai, but says: "Dubai will only increase in importance for sukuk."
On M&A work, he says we could be seeing the first signs of a pickup in the business: "Following the crisis, a lot of companies had to adjust their processes and become more efficient. Most have achieved this. If the improvement continues, we will see an increase in M&A."
ENBD is the national champion of the Dubai banking business, so you would expect international expansion to be a priority.
Last year, it bought the Egyptian arm of the French bank BNP Paribas, and Mr Van Der Tol believes there is room for growth in Egypt's distinctly underbanked market.
He also sees opportunities in two other big regional economies: Saudi Arabia, where ENBD is the only UAE bank to have a banking licence; and in Turkey, where the bank has been considering expansion or acquisition for some time.
His ambition is to be the "wholesale banking powerhouse in this region", he says. "The economic environment is picking up, and at ENBD we are open for business, for the private or public sector."
"I've spent my whole career at big international banks, and I find ENBD impressive, a unique combination of local expertise and international best practice. I've never seen that combination of elements before."
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Best Foreign Language Film nominees
Capernaum (Lebanon)
Cold War (Poland)
Never Look Away (Germany)
Roma (Mexico)
Shoplifters (Japan)
If you go
The flights
Emirates (www.emirates.com) and Etihad (www.etihad.com) both fly direct to Bengaluru, with return fares from Dh 1240. From Bengaluru airport, Coorg is a five-hour drive by car.
The hotels
The Tamara (www.thetamara.com) is located inside a working coffee plantation and offers individual villas with sprawling views of the hills (tariff from Dh1,300, including taxes and breakfast).
When to go
Coorg is an all-year destination, with the peak season for travel extending from the cooler months between October and March.
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
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THE%20SPECS
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At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
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 SPECS
Engine: 1.5-litre
Transmission: 6-speed automatic
Power: 110 horsepower
Torque: 147Nm
Price: From Dh59,700
On sale: now
COMPANY%20PROFILE
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Other acts on the Jazz Garden bill
Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.
Important questions to consider
1. Where on the plane does my pet travel?
There are different types of travel available for pets:
- Manifest cargo
- Excess luggage in the hold
- Excess luggage in the cabin
Each option is safe. The feasibility of each option is based on the size and breed of your pet, the airline they are traveling on and country they are travelling to.
2. What is the difference between my pet traveling as manifest cargo or as excess luggage?
If traveling as manifest cargo, your pet is traveling in the front hold of the plane and can travel with or without you being on the same plane. The cost of your pets travel is based on volumetric weight, in other words, the size of their travel crate.
If traveling as excess luggage, your pet will be in the rear hold of the plane and must be traveling under the ticket of a human passenger. The cost of your pets travel is based on the actual (combined) weight of your pet in their crate.
3. What happens when my pet arrives in the country they are traveling to?
As soon as the flight arrives, your pet will be taken from the plane straight to the airport terminal.
If your pet is traveling as excess luggage, they will taken to the oversized luggage area in the arrival hall. Once you clear passport control, you will be able to collect them at the same time as your normal luggage. As you exit the airport via the ‘something to declare’ customs channel you will be asked to present your pets travel paperwork to the customs official and / or the vet on duty.
If your pet is traveling as manifest cargo, they will be taken to the Animal Reception Centre. There, their documentation will be reviewed by the staff of the ARC to ensure all is in order. At the same time, relevant customs formalities will be completed by staff based at the arriving airport.
4. How long does the travel paperwork and other travel preparations take?
This depends entirely on the location that your pet is traveling to. Your pet relocation compnay will provide you with an accurate timeline of how long the relevant preparations will take and at what point in the process the various steps must be taken.
In some cases they can get your pet ‘travel ready’ in a few days. In others it can be up to six months or more.
5. What vaccinations does my pet need to travel?
Regardless of where your pet is traveling, they will need certain vaccinations. The exact vaccinations they need are entirely dependent on the location they are traveling to. The one vaccination that is mandatory for every country your pet may travel to is a rabies vaccination.
Other vaccinations may also be necessary. These will be advised to you as relevant. In every situation, it is essential to keep your vaccinations current and to not miss a due date, even by one day. To do so could severely hinder your pets travel plans.
Source: Pawsome Pets UAE
Company Profile:
Name: The Protein Bakeshop
Date of start: 2013
Founders: Rashi Chowdhary and Saad Umerani
Based: Dubai
Size, number of employees: 12
Funding/investors: $400,000 (2018)
All%20We%20Imagine%20as%20Light
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Meydan Racecourse racecard:
6.30pm: The Madjani Stakes Listed (PA) | Dh175,000 | 1,900m
7.05pm: Maiden for 2-year-old fillies (TB) | Dh165,000 | 1,400m
7.40pm: The Dubai Creek Mile Listed (TB) | Dh265,000 | 1,600m
8.15pm: Maiden for 2-year-old colts (TB) | Dh165,000 | 1,600m
8.50pm: The Entisar Listed (TB) | Dh265,000 | 2,000m
9.25pm: Handicap (TB) | Dh190,000 | 1,200m
10pm: Handicap (TB) | Dh190,000 | 1,600m.
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
