SHARJAH // Though it has been only a week since the latest power cuts began in Sharjah, businesses are already counting their losses in tens of thousands of dirhams due to spoiled food and postponed events.
Restaurants in particular are bearing the brunt. Farhat Yaqoub, the general manager of the Asian Palace Restaurant in the Rolla area, said he has lost about Dh80,000 (US$21,750).
"I have had to cancel 17 functions, including weddings and other parties, in the last five days worth Dh65,000 and lost about Dh15,000 in individual food purchases and dining at the restaurant," he said. "Four of my customers were stuck in a lift on Monday when the power went. They were without a mobile phone signal and couldn't raise the alarm until they were rescued by the building security personnel.
"After this incident they couldn't even eat because it was so hot inside and decided to go elsewhere."
Mr Yaqoub said he had contacted the authorities to enlist their assistance, but his efforts were in vain. He spoke with the Department of Economic Development before moving on to the Sharjah Electricity and Water Authority, Sharjah Municipality and the Sharjah Chamber of Commerce.
He considered buying a generator to provide power for his business. However, he found that would not help as the central air conditioner for the whole building could be compromised.
He was not the only one who suffered.
Ihsan al Mahmoud, the owner of the Noor al Rayan restaurant on Al Wahda Street, said the loss of power cost his business Dh30,000 after it lost about 30 food orders during the weekend. "Even the food we cooked on Sunday was from our Dubai branch. Work had completely stopped on the weekends and we had to devise options for Sunday."
Qassim Abdullah, who owns the Tazzaj Lubnan eatery, said he lost Dh125,000 in last year's summer power crisis and was already half way to that figure this year. "It's only one week, but we have lost about Dh60,000. If this problem continues until the end of summer, like it did last year, my losses would go to many thousands. Who knows, I may even lose the business."
Concern over possible sales of spoilt foods has led Sharjah Municipality officials to warn they would be conducting surprise inspections in grocery stores, butcher shops, fruit and vegetable markets and other food outlets this week.
Sultan al Mualla, the director general of Sharjah Municipality, said that inspectors were not only being guided by expiry dates on food items, but were also taking steps to ensure the products were safe, stressing that some could go bad before their expiry dates because of the power cuts.
"Our team of inspectors has today been in Abu Shagara, Rolla, al Majaz and al Qassimiya," he said. "Tomorrow we may return to some areas or go to others." Mr al Mualla declined to say if the inspections had uncovered any offences or bad food on the shelves.
While the supply of power was stable yesterday in most residential areas, some business in industrial areas experienced brief cuts in the morning.
@Email:ykakande@thenational.ae
The%20specs
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Ipaf in numbers
Established: 2008
Prize money: $50,000 (Dh183,650) for winners and $10,000 for those on the shortlist.
Winning novels: 13
Shortlisted novels: 66
Longlisted novels: 111
Total number of novels submitted: 1,780
Novels translated internationally: 66
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
Sukuk explained
Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
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
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
The specs: 2018 Mazda CX-5
Price, base / as tested: Dh89,000 / Dh130,000
Engine: 2.5-litre four-cylinder
Power: 188hp @ 6,000rpm
Torque: 251Nm @ 4,000rpm
Transmission: Six-speed automatic
Fuel consumption, combined: 7.1L / 100km
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.