Anwer Sher's company owns 52 horses in Dubai.
Anwer Sher's company owns 52 horses in Dubai.

Leave barn open after horse bolts



So who exactly, is Anwer Q Sher? Banker? Real-estate developer? Personal finance adviser? Novelist? Historian? Columnist for international publications? Equestrian impresario? Friend, counsellor and confidante of the rich and powerful around the Gulf? No prize for guessing the answer - all of the above. But with credentials and connections such as these, one might expect Mr Sher to be at least slightly aware of his aura. No such thing with him. He's modest to a fault, quiet-spoken and with such an emollient nature, in fact, that his American-born wife, Eileen Verdieck - an acclaimed equestrian who's been in the industry for the last 35 years - entrusts Mr Sher with handling some of the most temperamental of the 52 horses in the stables they run under the rubric of The HoofbeatZ Entertainment, a division of their holding company, Equine Management Services, which is Mr Sher's main occupation these days.

The horses include Spanish Andalusian dressage horses, black Fresians from Europe, American Morgans and Quarter horses, pintos, miniature horses, and an entire herd of Arabians, some of whom were rescued creatures that have been rehabilitated by the HoofbeatZ training team. Those horses are currently on display at the Dubai Polo & Equestrian Club. Ridden by skilled men and women from a dozen countries, they perform in a two-hour show called "Al Saheel: The Voice of the Horse", which traces the history and influence of the Arabian horse around the world. Acts include traditional Spanish dressage, stunt riding, humorous tricks, and free-form acts that showcase the traditional Arab Bedouin skills of equine communication. Needless to say, Mr Sher introduces the show; needless to say, Eileen Verdieck is among the star performers. And needless to say, Al Saheel was funded by the Shers.

Which leads to the question - how did Mr Sher manage his personal finances in a way that enabled him, in less than three decades after arriving in Abu Dhabi from his native Pakistan, to become chief executive of the Union National Bank (a position from which he stepped down in 2000), a global entrepreneur with projects ranging from "Escape" in Ajman - an equine-themed community of 1,200 homes - to developments in Morocco and, soon, the US?

To respond sensibly to that question, Mr Sher explains some personal history. "While the initial entry into the banking world was more coincidence, I found that finance and its understanding draws a common thread through every aspect of our business lives," he said. "The essence of banking is the exposure one gets of different businesses that a banker is exposed to, and the enormous learning curve that exists in that profession.

"I got attracted to real estate because of the nature of creative expression in a business sense that real estate development offers. Even though today the real estate model may look a bit jilted in the current economic conditions, I do believe that real estate does go sick from time to time - but land never dies." At this point, Mr. Sher makes the nexus between the land, money and the horse. "While defensive strategies have been recommend recently, I tend to think the defensive positioning for personal finance was needed about eight months to a year back," he explained. "Now with the financial assets depressed to these levels, it's really a time to be picking financial assets that will lead the recovery. Indeed, in a financial battleground where everything seems to be badly battered, there are going to be companies who will spin off good cash, and lead the recovery. I believe the financial impact on the world banking system has been over-exaggerated, and this is what is coming to light now, with the first-quarter results in the US showing that some banks will lead this recovery.

"If assets and companies are chosen with strong cash flows, some in the service industry, including well-positioned real estate assets - and the holding period is a three to five-year view - then this is the time to be a bit contrarian and buy assets. Being defensive now is like closing the barn door after the horse has bolted." He continued: "When it came to translating our own love of horses into a business, we began to realise that the equine model did not see itself sustainable because it was so insulated and elitist - and this is where bringing a broader base to the model and opening it up to a real estate accent brings the best of the equine world to marry into the best business practices. The creation of the HoofbeatZ programme and its various aspects creates this sustainability that was truly missing in the past. The modelling of the Ajman project showed that there is value to be driven in this model - and it has weathered the current storm well."

The US$650 million (Dh2.2bn) project, which is owned by a prominent member of the royal family of Ajman, Mr Sher and Ms Verdieck, was launched in the first quarter of 2008, and construction on the infrastructure began in October 2008. But can the traditional affection that Arabs have for horses truly resonate in the harsh world of business? "While the Arab world, especially here in the UAE, has long had an affinity for horses, it was always an elitist interest - and this is why the equine industry in the region was top-heavy," Mr Sher said.

"The emergence of competitive equine sports - horse racing, show horses, jumping, endurance and dressage - have meant that horses have come to the country with enormous values. And with that comes the problem of how to deal with horses that do not make the cut. We believe this has resulted in a unique role for our HoofbeatZ programme, where we absorb the horses that did not make the grade. Even in our show 'Al Saheel', some horses did not make that competitive grade. As pure financial investments, owning a racing horse or jumping horse poses financial challenges. But if done right, it can have benefits."

Pranay Gupte, a journalist and author, is co-editor of the forthcoming Global Emirates: An Anthology of Tolerance and Understanding, distributed by Motivate Publishing

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
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Stars:Robert Pattinson

Director:Matt Reeves

Rating: 5/5

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.

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Director: Laxman Utekar

Producer: Maddock Films, Jio Cinema

Cast: Kartik Aaryan, Kriti Sanon​​​​​​​, Pankaj Tripathi, Vinay Pathak, Aparshakti Khurana

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Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
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MATCH INFO

Euro 2020 qualifier

Ukraine 2 (Yaremchuk 06', Yarmolenko 27')

Portugal 1 (Ronaldo 72' pen)

How Islam's view of posthumous transplant surgery changed

Transplants from the deceased have been carried out in hospitals across the globe for decades, but in some countries in the Middle East, including the UAE, the practise was banned until relatively recently.

Opinion has been divided as to whether organ donations from a deceased person is permissible in Islam.

The body is viewed as sacred, during and after death, thus prohibiting cremation and tattoos.

One school of thought viewed the removal of organs after death as equally impermissible.

That view has largely changed, and among scholars and indeed many in society, to be seen as permissible to save another life.

Company%20Profile
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From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Mica

Director: Ismael Ferroukhi

Stars: Zakaria Inan, Sabrina Ouazani

3 stars

if you go
COMPANY%20PROFILE
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Pad Man

Dir: R Balki

Starring: Akshay Kumar, Sonam Kapoor, Radhika Apte

Three-and-a-half stars

Profile box

Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D 
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India

COMPANY%20PROFILE%20
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Overview

What: The Arab Women’s Sports Tournament is a biennial multisport event exclusively for Arab women athletes.

When: From Sunday, February 2, to Wednesday, February 12.

Where: At 13 different centres across Sharjah.

Disciplines: Athletics, archery, basketball, fencing, Karate, table tennis, shooting (rifle and pistol), show jumping and volleyball.

Participating countries: Algeria, Bahrain, Comoros, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Saudi Arabia, Sudan, Syria, Tunisia, Qatar and UAE.

Company%20Profile
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Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

Brief scoreline:

Tottenham 1

Son 78'

Manchester City 0

THE%20STRANGERS'%20CASE
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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)
Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
  • SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income. 
  • Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now

Directed by: Craig Gillespie

Starring: Emma Stone, Emma Thompson, Joel Fry

4/5

INFO

What: DP World Tour Championship
When: November 21-24
Where: Jumeirah Golf Estates, Dubai
Tickets: www.ticketmaster.ae.

COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Where to submit a sample

Volunteers of all ages can submit DNA samples at centres across Abu Dhabi, including: Abu Dhabi National Exhibition Centre (Adnec), Biogenix Labs in Masdar City, NMC Royal Hospital in Khalifa City, NMC Royal Medical Centre, Abu Dhabi, NMC Royal Women's Hospital, Bareen International Hospital, Al Towayya in Al Ain, NMC Specialty Hospital, Al Ain

Sri Lanka v England

First Test, at Galle
England won by 211

Second Test, at Kandy
England won by 57 runs

Third Test, at Colombo
From Nov 23-27

Medicus AI

Started: 2016

Founder(s): Dr Baher Al Hakim, Dr Nadine Nehme and Makram Saleh

Based: Vienna, Austria; started in Dubai

Sector: Health Tech

Staff: 119

Funding: €7.7 million (Dh31m)

 

COMPANY%20PROFILE%20
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Bert van Marwijk factfile

Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder

Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia

Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands

FORSPOKEN
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Company%20of%20Heroes%203
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Star%20Wars%20Jedi%3A%20Survivor
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Suicide%20Squad%3A%20Kill%20the%20Justice%20League
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Final%20Fantasy%20XVI
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Street%20Fighter%206
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Diablo%20IV
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Baldur's%20Gate%203
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Marvel's%20Spider-Man%202
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Assassin's%20Creed%20Mirage
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Starfield
%3Cp%3EDeveloper%3A%20Bethesda%20Game%20Studios%0D%3Cbr%3EPublisher%3A%20Bethesda%20Softworks%0D%3Cbr%3EConsole%3A%20PC%2C%20Xbox%0D%3Cbr%3ERelease%20date%3A%202023%3C%2Fp%3E%0A
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Power: 268bhp / 536bhp
Torque: 343Nm / 686Nm
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On sale: Later this year
A new relationship with the old country

Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates

The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:

ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.

ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.

ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.

ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.

IN WITNESS WHEREOF the undersigned have signed this Treaty.

DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.

Signed

Geoffrey Arthur  Sheikh Zayed

'Manmarziyaan' (Colour Yellow Productions, Phantom Films)
Director: Anurag Kashyap​​​​​​​
Cast: Abhishek Bachchan, Taapsee Pannu, Vicky Kaushal​​​​​​​
Rating: 3.5/5

The%20specs
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Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

Email sent to Uber team from chief executive Dara Khosrowshahi

From: Dara

To: Team@

Date: March 25, 2019 at 11:45pm PT

Subj: Accelerating in the Middle East

Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.

Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.

I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.

This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.

It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.

Uber on,

Dara


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