Mohamad Fayez is managing director of global data and analytics company Kagool MEA in Dubai.
Born in Egypt, he joined Microsoft in 2007 to work on the groundbreaking Office 365 programme and moved to Dubai in 2009. After a stint in the US, he returned in 2017.
Mr Fayez co-launched tech company ITWorks Hub and was part of Israeli start-up Accellion, which went public on the New York Stock Exchange.
Now 42, Mr Fayez and his “Moroccan sweetheart” wife live in Dubai Marina with their daughters, aged 15 and 13.
Were you exposed to money growing up?
I had a very enjoyable childhood in Cairo. My mum used to be a teacher; my dad had his own business doing food manufacturing and agriculture.
We could afford a good life. I never had any discussions when it came to money and savings, but was a big fan of Lego and Meccano and they had the ability to give me all the “tools”.
Did this influence your career?
I was fascinated with technology and cars from a very young age and video gaming — Nintendo, Sega, Atari — the graphic design, animation, how things worked.
My parents managed to get me anything that would fulfil my desire to “build” something.
At six, I was like: “I’m gonna work in technology.” My childhood shaped my future, my ability to work on new technology.
When did you first earn?
I worked for my dad. He had a factory, I was 15 and I decided to go with the truck and meet with supermarket owners to get an understanding of how they perceived our products, the competition and how we could improve.
It was four or five days a week, a couple of hours after school, for $10 to $20. I was keen to use my money to upgrade my PC or get internet connection.
The first year of college, I opened a mobile phone business. I borrowed money from my dad (to do this).
I was really passionate about different phones and devices … it was not just about making money but also to experience new technology.
I also had two jobs and paid my tuition fees in the last two years at a private university to get my computer science degree.
Have you become financially independent?
I spent 10 years working for Microsoft, overachieving my targets, and was one of the youngest directors.
With Accellion, I managed to drive the business and secure my life financially. Most board members were ex-Microsoft.
The company was trying to change the way traffic lights worked, based on AI rather than time. It got valued around $1.8 billion in six months. I had 50,000 shares.
I’m repeating things with Kagool. I’m not an owner, I don’t have shares, but the opportunity is tremendous.
I am a big fan of the model “create, build scale, start again”.
Where do you park your wealth?
It’s in the bank and real estate, an apartment in Egypt, a nice home in the US.
I’m not just buying for the sake of buying, so we can protect (wealth). It’s because I like a house or the opportunity of experiencing an area.
In the US, I managed to make good money from the stock market. Right now, I believe cash is king.
I’m not investing in property in Dubai yet and the stock market is volatile, so I’m waiting to see what’s going to happen.
Is there a key financial decision you made?
I believe the best investment was leaving Microsoft and moving back (to Dubai) for a new company, ITWorks Hub.
I was making more working for Microsoft, but you get to a level where you’re not advancing or learning, you don’t have challenges. I hate to feel I’m in the comfort zone.
I never work for a company just to make money. I want to enjoy it.
When you provide value and build something desired by the market, money will be a consequence of the success — you will get money as the reward.
Any cherished spends?
My wife’s wedding ring. Imagine you’re with someone who’s taking risks most of the time.
I owe her a lot. Without her support … she’s always telling me to “go with your heart”.
Another thing is going with my kids to watch Boss Baby, my favourite movie. They tell me I’m a “boss baby” from a character perspective — I like to drive things, I’m very focused and can influence others.
I hate to feel I’m in the comfort zone. I never work for a company just to make money. I want to enjoy it
Mohamad Fayez,
managing director, Kagool MEA
Are you comfortable with risk?
I am a risk-taker, but the risks should equal the opportunity. And if the opportunity is huge, the reward will be huge as well.
I have this slogan: “Go big or go home.” If it doesn’t work, you lose your job, or for any reason you lose your money … start again, build it again.
So I’m a big career risk-taker, but I enjoy living life.
I’m saving, but at the same time I want to enjoy (the money) — I travel, I’m a big fan of cars.
How do you feel about money?
I like to earn money — I don’t enjoy eating the fish, I enjoy the fishing more.
Every time I work with something, once it becomes really big, I exit and start again.
I enjoy the reward; what money can buy is making me happy. And it’s a good way to measure your success, but it’s not the only way.
A salary package is one of the ways to recognise success and experience.
Any spending weaknesses?
I have a specific passion about cars, not crazy cars. I never wished to get a Ferrari. I have a Maserati and a Porsche Macan S, a family car.
I work hard for my money and really enjoy the mechanics of cars, not just because I like to drive. I tend to my car personally, modifying it.
If I wasn’t working in technology, I would have a workshop … maybe when I retire.
I like to enjoy the driving experience. I had a Mazda 3 for 10 days, but didn’t enjoy it, so decided to sell. I also kept a Mercedes GLK for four months — I didn’t enjoy it.
Are you wiser with money?
I’m becoming wiser. I change my car every year rather than every four months.
My daughters changed my priorities in life. I’m focusing on making sure they’re getting a good education.
In business, you start with small things, put in your effort, logic and strategy and if you’re successful, it’s going to grow and be self-sufficient.
You try to apply the same thing for kids, to impact their life.
My parents spent every cent on my education. I was getting computer courses when I was nine because I had a passion for technology. That was extremely important for my life.
What are you happiest spending on?
Family time is a necessity. If I’m travelling for vacation, I’m going to enjoy it, so I take it to the maximum luxury level that I can afford.
If I cannot afford it, I’m not leaving home because it’s not a must.
If I’m doing something for fun, I have to do it the right way. Experiences are a big thing.
BUNDESLIGA FIXTURES
Saturday
Borussia Dortmund v Eintracht Frankfurt (5.30pm kick-off UAE)
Bayer Leverkusen v Schalke (5.30pm)
Wolfsburg v Cologne (5.30pm)
Mainz v Arminia Bielefeld (5.30pm)
Augsburg v Hoffenheim (5.30pm)
RB Leipzig v Bayern Munich (8.30pm)
Borussia Monchengladbach v Freiburg (10.30pm)
Sunday
VfB Stuttgart v Werder Bremen (5.30pm)
Union Berlin v Hertha Berlin (8pm)
The biog
DOB: March 13, 1987
Place of birth: Jeddah, Saudi Arabia but lived in Virginia in the US and raised in Lebanon
School: ACS in Lebanon
University: BSA in Graphic Design at the American University of Beirut
MSA in Design Entrepreneurship at the School of Visual Arts in New York City
Nationality: Lebanese
Status: Single
Favourite thing to do: I really enjoy cycling, I was a participant in Cycling for Gaza for the second time this year
UAE currency: the story behind the money in your pockets
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 biog
Name: Abeer Al Bah
Born: 1972
Husband: Emirati lawyer Salem Bin Sahoo, since 1992
Children: Soud, born 1993, lawyer; Obaid, born 1994, deceased; four other boys and one girl, three months old
Education: BA in Elementary Education, worked for five years in a Dubai school
SPECS
%3Cp%3E%3Cstrong%3EEngine%3C%2Fstrong%3E%3A%202-litre%20direct%20injection%20turbo%20%0D%3Cbr%3E%3Cstrong%3ETransmission%3C%2Fstrong%3E%3A%207-speed%20automatic%20%0D%3Cbr%3E%3Cstrong%3EPower%3C%2Fstrong%3E%3A%20261hp%20%0D%3Cbr%3E%3Cstrong%3ETorque%3C%2Fstrong%3E%3A%20400Nm%20%0D%3Cbr%3E%3Cstrong%3EPrice%3C%2Fstrong%3E%3A%20From%20Dh134%2C999%26nbsp%3B%3C%2Fp%3E%0A
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Getting there
The flights
Flydubai operates up to seven flights a week to Helsinki. Return fares to Helsinki from Dubai start from Dh1,545 in Economy and Dh7,560 in Business Class.
The stay
Golden Crown Igloos in Levi offer stays from Dh1,215 per person per night for a superior igloo; www.leviniglut.net
Panorama Hotel in Levi is conveniently located at the top of Levi fell, a short walk from the gondola. Stays start from Dh292 per night based on two people sharing; www. golevi.fi/en/accommodation/hotel-levi-panorama
Arctic Treehouse Hotel in Rovaniemi offers stays from Dh1,379 per night based on two people sharing; www.arctictreehousehotel.com
The Buckingham Murders
Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu
Director: Hansal Mehta
Rating: 4 / 5
Fund-raising tips for start-ups
Develop an innovative business concept
Have the ability to differentiate yourself from competitors
Put in place a business continuity plan after Covid-19
Prepare for the worst-case scenario (further lockdowns, long wait for a vaccine, etc.)
Have enough cash to stay afloat for the next 12 to 18 months
Be creative and innovative to reduce expenses
Be prepared to use Covid-19 as an opportunity for your business
* Tips from Jassim Al Marzooqi and Walid Hanna
Off-roading in the UAE: How to checklist
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
RESULT
Manchester City 5 Swansea City 0
Man City: D Silva (12'), Sterling (16'), De Bruyne (54' ), B Silva (64' minutes), Jesus (88')
BIOSAFETY LABS SECURITY LEVELS
Biosafety Level 1
The lowest safety level. These labs work with viruses that are minimal risk to humans.
Hand washing is required on entry and exit and potentially infectious material decontaminated with bleach before thrown away.
Must have a lock. Access limited. Lab does not need to be isolated from other buildings.
Used as teaching spaces.
Study microorganisms such as Staphylococcus which causes food poisoning.
Biosafety Level 2
These labs deal with pathogens that can be harmful to people and the environment such as Hepatitis, HIV and salmonella.
Working in Level 2 requires special training in handling pathogenic agents.
Extra safety and security precautions are taken in addition to those at Level 1
Biosafety Level 3
These labs contain material that can be lethal if inhaled. This includes SARS coronavirus, MERS, and yellow fever.
Significant extra precautions are taken with staff given specific immunisations when dealing with certain diseases.
Infectious material is examined in a biological safety cabinet.
Personnel must wear protective gowns that must be discarded or decontaminated after use.
Strict safety and handling procedures are in place. There must be double entrances to the building and they must contain self-closing doors to reduce risk of pathogen aerosols escaping.
Windows must be sealed. Air from must be filtered before it can be recirculated.
Biosafety Level 4
The highest level for biosafety precautions. Scientist work with highly dangerous diseases that have no vaccine or cure.
All material must be decontaminated.
Personnel must wear a positive pressure suit for protection. On leaving the lab this must pass through decontamination shower before they have a personal shower.
Entry is severely restricted to trained and authorised personnel. All entries are recorded.
Entrance must be via airlocks.
Zayed Sustainability Prize
Banned items
Dubai Police has also issued a list of banned items at the ground on Sunday. These include:
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Political flags or banners
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Bikes, skateboards or scooters
The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
World Sevens Series standing after Dubai
1. South Africa
2. New Zealand
3. England
4. Fiji
5. Australia
6. Samoa
7. Kenya
8. Scotland
9. France
10. Spain
11. Argentina
12. Canada
13. Wales
14. Uganda
15. United States
16. Russia
Global state-owned investor ranking by size
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1.
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United States
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2.
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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6.
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Canada
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7.
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Singapore
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8.
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Australia
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9.
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Saudi Arabia
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10.
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South Korea
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