Entrepreneurs
ENOC’s Journey from Refinery to Global Energy Leader
ENOC is just a common name for fuel stations in the UAE but, in reality, a global power house of shaping the energy of tomorrow. Founded in 1993, ENOC has grown from being a mere local player to a diversified state-owned energy group influencing industries that are associated with oil, gas, and innovative digital ventures around the world. Focused on sustainable development and cutting-edge technology, strategic investments contribute to the economy of Dubai and the country’s energy infrastructure. This blog will take you through ENOC’s journey, achievements, and future aspirations.
ENOC was established to fulfil the speedily growing energy needs of Dubai. Owned by the Government of Dubai through the Investment Corporation of Dubai, ENOC started its operations with a focus on refining and distributing petroleum products. In 1999, it established its first refining capability at Jebel Ali, which produced 120,000 barrels per day. This was an important milestone in the industrial development of the UAE, estimated at around AED 1.5 billion, and marked the setting up of ENOC’s footprint in the oil sector. Its steady growth can be evidenced from continuous expansion and diversification. It has constructed an enormous portfolio of subsidiaries and holds upstream to midstream and downstream operations. It is through this structure that ENOC has a full control system of its supply chain, starting from crude oil exploration up to refining all the way to retail distribution.
The operations of the group cut across several industries and are not only limited to Dubai and the Northern Emirates. New developments in Abu Dhabi outline ambition to be more potent in the UAE. Oil aside, digital transformation has become a necessary tool for developing energy in very fast-changing areas. The accelerator program “Next” of ENOC launched new ventures in 2019, which encompass Enoc Link, an on-demand fuel delivery service, and Beema, an online insurance platform. The two new ventures support ENOC’s agenda for innovation towards customer-centricity. ENOC acquired 100% ownership of Dragon Oil in 2015, following which it expanded the upstream capacity by adding international oilfields to its portfolio. This strategic acquisition was made by ENOC as part of its drive to establish itself as a global energy leader outside of the Middle East.
ENOC’s leadership team is led by CEO Saif Humaid Al Falasi and CFO Mohammad Sharf. The sustainable growth along with the operational efficiency of the organization is highly emphasized by the board headed by influential figures like Sheikh Saeed Mohammed Al Tayer, signifying just how closely the goals of ENOC are aligned with Dubai’s economic vision.
ENOC has continually been accredited for excellence. In itself, the group has won a Transform Award MENA Bronze in 2018 portraying the success story of the organization in terms of brand transformation. It was even recent when ENOC received the Dubai Gold Award for Quality in the year 2020.
Conclusion: ENOC has experienced growth from a local refinery operator to a global energy major. The phenomenal growth of Dubai from a local hub into the global economic port can be reflected in such parallel ways. With strategic investment, innovative venture, and focus on sustainability, ENOC is an ideal player not only for the future of energy in the UAE but beyond. In its continuation of its diversification and expansion, ENOC will remain at the forefront ensuring energy security and economic prosperity for the region.
Entrepreneurs
The Entertainer: Your Passport to Global 2-for-1 Deals
The Entertainer has become the ‘savvy spender’s’ solution: more money saved with less sacrifice on consumer spending. This company started back in Dubai in 2001 and revolutionized the way people dine out, enjoy entertainment, and travel. From free meals with buy-one-get-one-free offers to exclusive hotel deals, this company has spread its wings to 15 countries and has certainly saved millions. But how did this one-time simple voucher book transform into a global phenomenon influencing shopping behaviour throughout the world?
Australian entrepreneur Donna Benton founded The Entertainer in 2001 in Dubai. What began as a straightforward buy-one-get-one-free coupon book evolved into a simple, uncomplicated means of offering massive savings to locals and tourists alike in the thriving UAE city. Donna Benton is from Melbourne. An initiative born of local motivation soon gained much traction because of the number of deals and partnerships The Entertainer could command and offered uniquely for consumers to enjoy their favourite pastimes at a lower cost.
By 2012, The Entertainer was ready for international expansion. Strategic investment from Dubai-based Abraaj Capital catapulted the company into its next phase, taking the leap from print to digital: in 2013, launching its smartphone app. A printed book was not capable of restraining users anymore; now, it was granted access to offers at their fingertips with GPS mapping, advanced search capabilities, and social media integration. The Entertainer became a completely tech-driven company, forcing its way into the digital age and appealing to the global discount hunter.
The offer access for customers was revolutionized by the app, bringing offers straight to mobile phones and increasing the variety of deals available beyond what the printed books could provide. The app covered more than 10,000 merchants in 38 destination-specific products. This app is born in a world dominated by instant access and convenience, and its kind of purpose is to fulfill the needs of the modern consumer to have excellent monthly offers and to link with GPS mapping so that one can find the deals near them. It also has a partnership with platforms such as TripAdvisor and Careem. Its advantage is that users can filter according to specific promotions, such as brunch deals or special occasions, to make the app a dynamic savings tool.
In 2015, the Entertainer application had grown spectacularly: more than 2 million buy-one-get-one-free offers had been redeemed by Dubai users alone, and each customer was saving on average AED 6,000 ($1,600) annually. Needless to say, such success positioned the app as one of the largest global discount providers, which let inhabitants of the whole world enjoy the same level of savings on favourite activities. The Entertainer’s Acquisition and International Scaling: In 2018, the biggest change for The Entertainer came from GFH Financial Group’s collaboration with Al-Futtaim and Al Zarooni Emirates Investments to acquire an 85% stake in the business. This acquisition helped The Entertainer scale its international influence, especially with new partnerships and a boosting of funds that extended the company’s reach into more countries and regions. The Entertainer has rapidly grown to over 40 locations in 15 different countries in the Middle East, Asia, Africa, and Europe.
It has offices in major global cities such as Dubai, Singapore, Hong Kong, and London, with the mission to further expand its digital footprint and offer users ease of access to world-class offers. Loyalty programs and partnerships with industries such as banking and telecommunications, for example, have ensured that The Entertainer remains relevant in all dimensions of consumer life.
As it grows from just saving money, The Entertainer is light years away from all that. The company has become a lifestyle tool for people and for businesses. A savvy move by the company has been not only saving money for the users but also routing billions of dollars into local economies-an impressive annual $1.3 billion said the company. Whether it’s eating out, weekend gateways, or discovering new leisure attractions, The Entertainer will be just that trusted companion for those looking to make the most of life without breaking the bank.
Entrepreneurs
The Economical Printing Press: 40 Years of Printing Excellence in Dubai
For over more than 40 years, since the establishment of The Economical Printing Press as the second commercial printing press in Dubai, the company has been one of the pillars in the prosperous business climate of the emirate. From a small beginning in the newly established city, The Economical Printing Press became an anchor of the media and print industries in Dubai through the adjustment of its goals to the requirements of the market, maintaining quality and service to customers.
The Economical Printing Press was founded by Hassan Fahmi Saleh AlShunnar, a holder of an architectural engineering degree, who arrived in Dubai in the early 1960s. It did not take long for The Economical Printing Press to be recognized within the business environment of the locality. Entry by AlShunnar into printing marked a time when Dubai was growing fast, and businesses needed reliable and efficient printing services to complement their growth. As an engineer by profession, AlShunnar brought a new dimension to the business, which had precision and innovation at the heart of it.
Economic Printing Press was a name that had gained immense recognition decades after decades of business in ATL and BTL media solutions. The business specialized itself in the creation of print advertisement, marketing materials, packaging, and much more for the businesses ranging from start-ups to giant corporates. Delivering quality with low cost allowed the company to carve an early niche in what was already a fairly competitive field. This ATL and BTL marketing specialization played a big role in their success as businesses continued using them for marketing and promotional requirements.
The Economical Printing Press, like most other businesses in Dubai was not spared by the global economic recession of 2008-2009. The downturn came knocking harder on Dubai than anywhere else prompting large-scale exodus of expatriates and grinds to near halt business activities. Downsizing and employees cutting was the measuring scale for survival for The Economical Printing Press. Many businesses were obliged to close up shop, but this successful business through strategic planning and flexibility managed to survive the crisis and come out leaner yet stronger. This characteristic of resilience has been one of the marks of the company’s success, speaking to an ability to navigate the ebbs and flows in Dubai’s dynamic economy.
The Economical Printing Press has, throughout the years, kept its evolution in order to cater to modern businesses. The firm relocated its headquarters to Al Quoz industrial area as it’s the prime location that will allow them to reach clients better by serving them all over Dubai. Al Quoz has also been described as the hotspot for a number of creative and industrial businesses; in this regard, it was the perfect location for a printing press servicing all sorts of industries. Its strategic move ensured that the company was close to the businesses it served.
The Economical Printing Press has giant ambitions for further expansion in the future. With more than four decades of experience in this field, this company plans to open five new branches in different regions within the UAE. This is a very explicit sign of an increase in the demand for the services offered by this organization and ensures a place for it in the printing field. Their newly opened branches will enable them to reach a greater audience, thus making services accessible to businesses all over the country.
This is exactly what has kept The Economical Printing Press in a business that has transformed dramatically because of both technological innovation and business practices. Under the digital media spotlight, it’s amazing how the requirement for conventional print services has not diminished. The Economical Printing Press has captured the innovation in printing technology while yet maintaining the craftsmanship and personal touch that defined their brand over 40 years.
Whereas each city has witnessed new ventures sprouting up and then vanished, one venture will discover its lifetime in that wave of change. The Economical Printing Press is the epitome of perseverance and adaptability, and it remains a committed partner to businesses in the UAE and its economy through good times and bad economic times. Through decades closely interwoven with the evolution of the city, The Economical Printing Press is so much more than a company-it’s part of history. As they keep on growing and expanding, their story is far from over and will continue contributing to the business landscape in Dubai for many years to come.
Entrepreneurs
Global Financial Expertise: How FFA Private Bank is leading in Capital Markets and Advisory Services
FFA Private Bank is registered and operates from the acclaimed DIFC, which positions it at the centre of the Middle East’s financial hub. Being under the stricture of the Dubai Financial Services Authority assures the regulated compliance of all practices carried out by the bank with stringent financial regulations and best practices. This regulatory oversight further adds yet another layer of security and confidence for its clients, which could range from private investors to corporations seeking tailored financial services.
FFA Private Bank is a subsidiary of FFA Group Holding Ltd that is headquartered in Dubai but registered in DIFC. The parent entity controls several lines of ventures, including FFA Real Estate Ltd, which is very engaged in real estate development and management in Europe, especially through its German subsidiary, FFA Real Estate GMBH. International expansion into real estate, as in the German subsidiary for FFA Group of Companies, also speaks to the increasing influence of the group as well as its capacity to manage a broad array of assets spread across different markets.
The strength behind FFA Private Bank’s success is its provision of a full range of financial services to clients. It specializes in capital markets and offers its clients the best investment opportunities-in equities, fixed income products, and alternative investments. With a team of experienced financial professionals, supported by state-of-the-art technology, FFA Private Bank positions its clients for market trend realization and for the highest possible return on investments.
FFA Private Bank has superiority in wealth management. As such, the bank offers specialized investment strategies with a focus and particular attention to the financial goals of each client, be it the preservation of wealth for future generations or growing assets through diversified portfolios. Bank advisors therefore hand-in-hand work with clients to ensure that every financial decision is moved on a bedrock rooted in profound market insights and far-reaching vision. FFA Private Bank offers advisory services into the full spectrum of its client’s financial planning needs. These range from estate planning, tax optimization to a vast list of complex financial challenges that the banker’s experts are equipped to handle. Whether advising companies on mergers and acquisitions or working with families and inheritance planning, advisory services from FFA Private Bank are grounded in deep knowledge of domestic and international financial rules and regulations.
One of the cornerstones of the diversified service offering of FFA Private Bank is their partnership with FFA Real Estate Ltd. FFA Real Estate has been aggressive in promoting advancement in real estate development and management, especially in Europe. The company, through its subsidiary in Germany, FFA Real Estate GMBH, undertakes property management using residential, commercial, and mixed-use developments portfolios. This foray into real estate complements the financial services offered by the bank as well as providing clients with opportunities to invest in promising real estate markets across Europe.
Over the years, growth of the bank reflects adaptation by the bank as the financial environment changed. Ever since its inception, FFA Private Bank grew to be a reliable partner for clients who would seek tailor-made financial solutions. When embedding a global perspective with roots in the Middle East, this bank will be in a position to provide an area and international markets unique view of itself for its respective clients.
FFA Private Bank demonstrates its high standards by the solidity of its client relationships, the current respects for regulatory standards and its ability to innovate financial solutions. As the financial climate continues to change, FFA Private Bank is well placed to lead the future as clients face ongoing changes in the rapidly globalizing economy and are set to thrive.
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