Khatch Mikaelian is the founder and managing director of Kalian Branding, an agency he launched in 2009. The 37-year-old, from Armenia, grew up in Egypt and the US and has lived in the UAE for 14 years.
How did your upbringing shape your attitude towards money?
I’m not sure if it’s an Armenian thing, but money was not really talked about at home. I only started having a relationship with money once I started making it. However, what it takes to make money was often the subject. Watching both my parents work hard and stop at nothing to achieve their goals entirely shaped my attitude towards my own career. My focus has always been the work; the money somehow always followed.
How much did you get paid for your first job?
I was 14 and lived in Dallas, Texas. I used to take care of polo ponies at the stables and prepare them for polo matches. A polo player can use up to four different horses per match. I would be the kid who gets the ponies ready and helps the players with the swap mid-match. I made US$40 an hour at a time when the minimum wage was $4.95 an hour. I have always been proud of that.
Are you spender or saver?
I’m a good balance of both, however sometimes I’m confused as to what I’m saving for. I don’t see myself ever retiring and living off my savings. I constantly want the thrill of growing and earning. Saving is so tedious and safe. We all get one life. Making it count and enjoying experiences with loved ones is what it’s all about. If that makes me a spender, so be it.
What is your most cherished purchase?
In 2004 I made my first property purchase, a one-bedroom apartment in “new Dubai”. It proved to be a great investment and I refinanced it right before the crisis in late 2007. I used that money to start my branding agency in 2009. That one-bedroom has been the launch pad for my entrepreneurial career.
Where do you save?
My father at some point in my early twenties gave me a brief talk about saving money. He told me to figure out what’s “my thing”. Is it property, bonds, gold bullions and various other options? I wouldn’t say I’ve figured it out completely, but what I do know is I’m not an “all eggs in one basket” kinda guy.
Do you prefer paying by credit card or in cash?
Always cash. I recently visited the Apple store in Mall of Emirates and almost had a stroke when the Apple genius informed me that all purchases are done through the online store and directly debited from your account. There’s no cash counter in the entire shop.
What has been your best investment?
My branding agency. I put everything I had into it and couldn’t be happier about it. Over the years it has grown organically and has proven to have a life of its own. It might sound crazy but my business and I have a dialogue going. I listen to it and it guides me as much as I lead it.
What do you most regret spending money on?
It pains me to confess the kind of money I have spent on fine dinning in Dubai. Every other day there is a new five-star restaurant opening and it’s become normal to constantly be at one of these hot spots. And you inevitably start referencing the money you spend as the benchmark to what’s affordable. “I can afford to buy this treadmill, it’s like a night out for dinner”.
What financial advice would you offer your younger self?
Don’t let it get to your head. Money says nothing about who you are, what you do with it says everything.
What would you raid your savings account for?
A dream home. I’m not talking about an MTV Cribs type of home with dolphins in the pool, cinema room and a 20-car garage but an actual home. Where I live has always been the most important aspect of my life.
mkassem@thenational.ae
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
City's slump
L - Juventus, 2-0
D - C Palace, 2-2
W - N Forest, 3-0
L - Liverpool, 2-0
D - Feyenoord, 3-3
L - Tottenham, 4-0
L - Brighton, 2-1
L - Sporting, 4-1
L - Bournemouth, 2-1
L - Tottenham, 2-1
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 374hp at 5,500-6,500rpm
Torque: 500Nm from 1,900-5,000rpm
Transmission: 8-speed auto
Fuel consumption: 8.5L/100km
Price: from Dh285,000
On sale: from January 2022
COMPANY%20PROFILE%20
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The biog
From: Ras Al Khaimah
Age: 50
Profession: Electronic engineer, worked with Etisalat for the past 20 years
Hobbies: 'Anything that involves exploration, hunting, fishing, mountaineering, the sea, hiking, scuba diving, and adventure sports'
Favourite quote: 'Life is so simple, enjoy it'
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
What is double taxation?
- Americans living abroad file taxes with the Internal Revenue Service, which can cost hundreds of dollars to complete even though about 60 per cent do not owe taxes, according to the Taxpayer Advocate Service
- Those obligations apply to millions of Americans residing overseas – estimates range from 3.9 million to 5.5 million – including so-called "accidental Americans" who are unaware they hold dual citizenship
- The double taxation policy has been a contentious issue for decades, with many overseas Americans feeling that it punishes them for pursuing opportunities abroad
- Unlike most countries, the US follows a citizenship-based taxation system, meaning that Americans must file taxes annually, even if they do not earn any income in the US.
KEY%20DATES%20IN%20AMAZON'S%20HISTORY
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
The Gentlemen
Director: Guy Ritchie
Stars: Colin Farrell, Hugh Grant
Three out of five stars
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
At a glance
- 20,000 new jobs for Emiratis over three years
- Dh300 million set aside to train 18,000 jobseekers in new skills
- Managerial jobs in government restricted to Emiratis
- Emiratis to get priority for 160 types of job in private sector
- Portion of VAT revenues will fund more graduate programmes
- 8,000 Emirati graduates to do 6-12 month replacements in public or private sector on a Dh10,000 monthly wage - 40 per cent of which will be paid by government
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Company%20Profile
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T20 WORLD CUP QUALIFIER
Results
UAE beat Nigeria by five wickets
Hong Kong beat Canada by 32 runs
Friday fixtures
10am, Tolerance Oval, Abu Dhabi – Ireland v Jersey
7.30pm, Zayed Cricket Stadium, Abu Dhabi – Canada v Oman
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