Al Ain-based Al Foah, established in 2005, describes itself as the largest date company in the world. Fatima Al Marzooqi / The National.
Al Ain-based Al Foah, established in 2005, describes itself as the largest date company in the world. Fatima Al Marzooqi / The National.

Made in the UAE: Al Foah puts Emirati dates on the map



ABU DHABI// A date company has put Emirati produce on the map.

Established in 2005, Al Ain-based Al Foah describes itself as the largest date company in the world.

The company has five brands of the ancient Middle Eastern staple, which some believe could have a 7,000 year legacy of cultivation.

“Al Foah has chosen global appeal as its target, which is reflected across the company,” said Dhafer Al Ahbabi, chairman of the board for Al Foah.

To meet the demands of a global market, the company has invested heavily, including improvements to washing lines, production and packaging, he said.

According to the United Nation’s Food and Agriculture Organisation, the UAE is the world’s eighth-largest producer of dates, with 250,000 metric tonnes produced in 2012.

The lion’s share bear the stamp of Al Foah.

The company is taking on the global market with five separate brands, all aimed towards different customers, from bulk brand, Al Saad, to boutique label, Zadina.

Hadef Almessabi, export sales regional manager, said the company exports 80,000 tonnes of dates every year, to more than 47 countries in the world.

To spread its reach and take sweet Emirates dates to the world, the company has agents in a number of countries including Jordan, Morocco, Yemen, Saudi Arabia, Malaysia, Singapore, Bangladesh, Sri Lanka, and Syria.

“We have immense contracts with these countries,” he said.

Shipments can range from just a few cartons to several pallets, and as much as whole shipping containers, he said.

Exports represent more than 90 per cent of the total company sales, the company recently reported.

In addition to dates, Al Foah also processes associated products including dates with nuts and chocolate, date syrup, date paste, and date halwa – a sweet confection.

The company works with more than 16,000 date farmers across the UAE, helping them to improve the quality of their product and get a better return.

The company’s assets include its farm in Al Ain, which it describes as the largest organic farm in the world.

It has a total area of 1,321 hectares and more than 70,000 date palms.

In 2014, the company paid out over Dh327 million to 10,000 farmers in the UAE.

“The farmer is considered the backbone of the development of the palm industry in the country and the main axis to improve the quality of dates,” the company said. “Thus, supporting the farmer by meeting his needs is one of the most important priorities that Al Foah Company has made, it the subject of its interests.”

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Made in the UAE

An increasing flow of locally produced goods is positive news for the UAE’s energy dependent economy, but increasing manufactured exports will require overcoming some significant obstacles. Oil and gas, which accounts for 40 per cent of the country’s GDP, has long held the banner for the “made in the UAE” label, but plunging oil prices have once again exposed the perils of having an economy driven by a single powerful industry.

This five-part series profiles companies, products and goods, all made in the UAE.

Made in the UAE: Credibility supplied by Strata's high flyers

Made in the UAE: Home grown success, one cup at a time

Made in the UAE: Video game studio helps country reach next level

esamoglou@thenational.ae

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There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.

The trip

Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.

The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.

 

The specs

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Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

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Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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The Melbourne Mercer Global Pension Index

The Melbourne Mercer Global Pension Index

Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.

The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.

“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.

“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”

Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.

Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.

“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.

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Founder: Smeetha Ghosh, one co-founder (anonymous)

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Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
  • Stay invested: Time in the market, not timing the market, is critical to long-term gains.
  • Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
  • Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
 
 
How the bonus system works

The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.

The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.

There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).

All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.