Nerves were taut yesterday as schoolboy teams took part in the Carbon Trading Challenge. In two hours, they had to make as much money as possible by buying and selling oil. Unluckily for the winners, who made a Dh637,000 profit, it was only a simulation.
ABU DHABI // The traders screamed "Buy!" and "Sell!" across the room as the tense minutes ticked away. By the end of just two hours, one triumphant company had turned its initial Dh18,000 sum into a whopping Dh637,000 profit.
Not bad for a day on the trading floor, even if the winning firm was taking part in a virtual oil trading game - and the company employees were all still at school.
Seven teams took part in the Carbon Trading Challenge at the all-male American International School in Abu Dhabi yesterday. The workshop, sponsored by the oil company BP, was part of an educational programme that teaches pupils maths, enterprise and commodities strategies.
One of the four Emirati pupils who won the challenge said the experience had been so thrilling he wanted to go into the industry.
"I would like to work in oil after this because it would be such an exciting job," said Saeed al Dhahiri, 14, the chairman of his group's company. "When the prices go down we have to buy and when they go up, we have to sell."
The team, nicknamed Adnoc after the Abu Dhabi National Oil Company, won the trial game and the real event.
Mohammed al Nahyan, the company accountant, said winning twice felt "amazing". Hamdan al Zaabi, the market analyst, said he didn't know much about oil trading before the game but had learnt from his first experience.
Fadhel al Marar, Adnoc's manager, said that as Emiratis it was crucial for them to learn about the business of oil trading and that the game had been fun.
"It's really important for us to learn how to trade oil, especially living in Abu Dhabi," he said. "The UAE is our country and we must know these things."
The game required teams of four or five boys to act as virtual companies in a simulated oil trading environment. They had to analyse global market news and manage their budgets accordingly.
Each company member chose a role to act out from the accountant, the manager, the chair, the market analyst and the trader. Each team started with 100 barrels of oil and US$5,000. The group with the most money at the end of the two-hour workshop was the winner.
"The idea behind the trading challenge itself is that we're trying to bring maths and enterprise to life," said James Frecknall, one of the game's organisers.
"These subjects often get thought about as textbook but we were very keen to put it in a real-life context. The kids hear about the recession, the global economy, oil and trading, especially being in the Middle East, and the way it has an effect on the world."
The students learnt how to complete a trading request form, a financial report and read the trading rules and regulations. After every virtual market news update they had four minutes to trade their oil, submit their trading slips and explain the number of barrels sold and their reasons.
The teams, featuring nicknames such as Eco World Centre, Barclays and Stam, were also briefed on the value of determination, respect and excellence within trading and shown a video on the world of business.
The Palestinian student Adam Nabulsi, a trader at BBE, said he felt similar to his father, who trades shares for a living.
"I always follow what he does and I think when I'm older I might work in this field," he said.
Mr Frecknall and fellow organisers Scu Moncur and Gemma Price said the players were outstanding on the day and worked well with the ideas that were presented.
"You do see a definite interest in kids here compared to back in the United Kingdom because oil is present in Abu Dhabi and people here have a day-to-day contact with it," Mr Frecknall said.
His team, which works for the communications agency EdComs, has been in the programme for two years. They will visit five schools in the capital as part of the Abu Dhabi Festival.
However, not everyone was quite so taken with the exercise. Mohammed Anas, the accountant at Stam, said he would not consider oil trading as a career after finding the game too stressful.
"I didn't like having people shouting around me and feeling bankrupt," he said. "I think if I play this game in real life I will be bankrupt."
Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
Last-16 Europa League fixtures
Wednesday (Kick-offs UAE)
FC Copenhagen (0) v Istanbul Basaksehir (1) 8.55pm
Shakhtar Donetsk (2) v Wolfsburg (1) 8.55pm
Inter Milan v Getafe (one leg only) 11pm
Manchester United (5) v LASK (0) 11pm
Thursday
Bayer Leverkusen (3) v Rangers (1) 8.55pm
Sevilla v Roma (one leg only) 8.55pm
FC Basel (3) v Eintracht Frankfurt (0) 11pm
Wolves (1) Olympiakos (1) 11pm
Notable salonnières of the Middle East through history
Al Khasan (Okaz, Saudi Arabia)
Tamadir bint Amr Al Harith, known simply as Al Khasan, was a poet from Najd famed for elegies, earning great renown for the eulogy of her brothers Mu’awiyah and Sakhr, both killed in tribal wars. Although not a salonnière, this prestigious 7th century poet fostered a culture of literary criticism and could be found standing in the souq of Okaz and reciting her poetry, publicly pronouncing her views and inviting others to join in the debate on scholarship. She later converted to Islam.
Maryana Marrash (Aleppo)
A poet and writer, Marrash helped revive the tradition of the salon and was an active part of the Nadha movement, or Arab Renaissance. Born to an established family in Aleppo in Ottoman Syria in 1848, Marrash was educated at missionary schools in Aleppo and Beirut at a time when many women did not receive an education. After touring Europe, she began to host salons where writers played chess and cards, competed in the art of poetry, and discussed literature and politics. An accomplished singer and canon player, music and dancing were a part of these evenings.
Princess Nazil Fadil (Cairo)
Princess Nazil Fadil gathered religious, literary and political elite together at her Cairo palace, although she stopped short of inviting women. The princess, a niece of Khedive Ismail, believed that Egypt’s situation could only be solved through education and she donated her own property to help fund the first modern Egyptian University in Cairo.
Mayy Ziyadah (Cairo)
Ziyadah was the first to entertain both men and women at her Cairo salon, founded in 1913. The writer, poet, public speaker and critic, her writing explored language, religious identity, language, nationalism and hierarchy. Born in Nazareth, Palestine, to a Lebanese father and Palestinian mother, her salon was open to different social classes and earned comparisons with souq of where Al Khansa herself once recited.
Maros Sefcovic is juggling multiple international trade agreement files, but his message was clear when he spoke to The National on Wednesday.
The EU-UAE bilateral trade deal will be finalised soon, he said. It is in everyone’s interests to do so. Both sides want to move quickly and are in alignment. He said the UAE is a very important partner for the EU. It’s full speed ahead - and with some lofty ambitions - on the road to a free trade agreement.
We also talked about US-EU tariffs. He answered that both sides need to talk more and more often, but he is prepared to defend Europe's position and said diplomacy should be a guiding principle through the current moment.
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
Research equivalent Airbnb homes in your location to ensure competitiveness.
Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty.
Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.
