Latest news with #Dh90
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Adnoc awards contracts worth Dh65.7 billion in 2025 first half; 400 UAE companies benefit
Nearly 400 local suppliers, contractors and service providers have received contract awards from Adnoc valued at Dh65.7 billion in the first half of 2025 as the company deploys its purchasing power to boost socioeconomic growth, empower businesses and generate long-term value for the nation. The contracts span critical sectors such as drilling, logistics, operational support services, and engineering, procurement and construction (EPC). Adnoc is prioritising local businesses in its procurement to stimulate private-sector growth and strengthen the resilience of national supply chains through its In-Country Value (ICV) programme. Dr Saleh Al Hashmi, Adnoc Director, Commercial & In-Country Value Directorate, said, 'Our contract awards create a ripple effect across the economy, helping us to drive productivity, competitiveness and highly-skilled private sector jobs for local talent. We encourage all our partners and stakeholders to collaborate with us and contribute to the UAE's industrial growth journey.' Among the key beneficiaries of the awards include NMDC Energy, Target Engineering, Al Dhafra Co-operative Society, Arab Development Establishment, Excel Astra Engineering, Robt. Stone, GISCO, and Euro Mechanical & Electrical Contracting. The contract awards reflect Adnoc's commitment to engaging capable national suppliers that can deliver value across its business. Over the next five years, Adnoc plans to channel an additional Dh200 billion ($54.5 billion) into the UAE economy through its ICV programme. The company is also aiming to locally manufacture Dh90 billion ($24.5 billion) worth of products in its procurement pipeline by 2030. To broaden access to its commercial opportunities, Adnoc recently launched the Make it with Adnoc mobile app which provides visibility into the company's purchasing needs. The app enables suppliers, SMEs and entrepreneurs to gain a clear pathway to capitalise on its long-term commercial opportunities. Launched in 2018, Adnoc's ICV programme continues to drive economic and industrial growth for the UAE and create private-sector jobs for Emiratis, with over 17,000 jobs created to date. From established suppliers to emerging entrepreneurs, Adnoc invites all local businesses to capitalise on its procurement pipeline and contribute to the nation's long term prosperity.
India.com
01-05-2025
- Entertainment
- India.com
Meet Rajan Lall, a billionaire, who beat cancer, heart attacks to build Bollywood business empire in Dubai, he works...
Rajan Lall You must have heard about many success stories but here is a story which is full of struggles but ends in something, very beautiful. Rajan Lall's life reads like the script of a Bollywood thriller—complete with health battles, brushes with danger, and dramatic comebacks. A cancer survivor who has endured four heart attacks and personal betrayal, Lall didn't just beat the odds—he rewrote them. At an age when many consider slowing down, Lall chose to start from scratch. At 53, he left behind his home and business in India—shaken by relentless income tax raids and alleged extortion threats from underworld-linked elements in Mumbai—and moved to Dubai. There, he reinvented himself, diving headfirst into the garment trade and eventually building a billion-dirham empire. Today, he stands not only as a successful entrepreneur but also as an author, chronicling his rollercoaster journey in a memoir that promises inspiration, grit, and a rare look into the life of a man who refused to give up. Notably, Rajan has been known for his role as a dubbing producer in Bollywood. Rajan Lall on his journey to success 'Change has never scared me. Every big step in my life was a leap of faith. I remember earning Dh90 a day, eating Maggi noodles, and hitching a ride with my friend during those initial one or two years of struggle in Dubai,' Rajan said about his struggle. Anupam Kher on Rajan Lall Only a few months back, Anupam Kher thanked producer Rajan Lall for helping him in his years of struggle where he said: Rajan Lal; a friend, a helper I met this time in Dubai after 39 years. In 1982 when I was looking for work in Mumbai and the conditions weren't good, those days director #mheshbhtttt lived in a small flat under his house. I always had a good one! They used to treat breakfast etc too!
Gulf News
01-05-2025
- Business
- Gulf News
Dubai's Rajan Lall beat cancer, heart attacks to build a Bollywood, business empire: His incredible second innings
Dubai: 'I've faced death more than once — but I never let it break my spirit,' says 78-year-old Rajan Lall, seated in his sea-facing mansion in Dubai's Palm Jumeirah. The UAE-based businessman and Bollywood dubbing producer has survived cancer, four heart attacks, and personal betrayal. Yet it was in his fifties — when most slow down — that he started over, eventually building a billion-dirham empire. When I met him in person, he exuded this rockstar energy — dressed in a green shirt and matching tinted glasses that defied his age. "All this happened by chance," he says simply, describing the unexpected journey that led him to Dubai in his fifties and eventually to staggering success. At 53, Lall made the bold decision to leave India and start anew in Dubai. Back in India, Lall ran a successful business — until a string of income tax raids and what he describes as 'calls of extortion' from underworld-linked groups in Mumbai forced him to leave it all behind. It was the 1990s, a volatile era when wealthy businessmen and those linked to Bollywood were often targeted by the Mumbai underworld. 'Change has never scared me. Every big step in my life was a leap of faith. I remember earning Dh90 a day, eating Maggi noodles, and hitching a ride with my friend during those initial one or two years of struggle in Dubai,' he says. But he didn't let the drudgery get to him. He had a plan to set up a successful garment trading empire in Dubai by not relying on his money earned in India. 'I always felt an instant connection to Dubai. It felt like the right place for me to begin again. So I moved, with no money in my pocket but a strong desire to rebuild and create something new. In those days, business opportunities in Dubai, especially in the garment industry, were ample and abundant. Once again, I took that gamble and ended up here for 25 more years... and counting!' He's now heading a multi-million dirham garment trade business, but he is not done yet. He has encapsulated his eventful and colourful life in his new memoir. I Did It My Way: My Story of Love, Betrayal, Regret and Wisdom written by Manju Ramanan, encapsulates this extraordinary journey. But starting over in the UAE at an unconventional age wasn't easy. 'I can't lie, it was a real struggle at first ... But today I run a successful business with offices around the world ... I had to start from zero, with no established connections. But my experience in India taught me how to adapt quickly and make bold decisions.' With the support of old friends like Salim Khan who gave him Dh70,000 seed capital to establish a company in Dubai, Rajan knew he was on the right track. 'I sold hangers to garment exporters, which gave me the capital I needed to expand, and slowly, things started to take off. I won't lie, it wasn't easy, but I held on to my faith.' Success followed. "I had five offices with my business. I was doing very well in garment accessories, interlining, angles and stuff like that," he recalls. Dubai gave him the platform to thrive once again. But even then, Bollywood remained close to his heart. 'Bollywood has always been a part of my DNA,' he says. A chance meeting in Chennai led him into the world of South Indian cinema. Introduced to producers and stars like Rajinikanth and Kamal Haasan, Lall saw an opportunity others ignored. 'There was a 1989 Tamil film called Apoorva Sagodharargal, a big hit down south. A friend suggested I dub it into Hindi. I had no idea about dubbing at the time. But I took a chance.' He bought the film for Rs30 lakh (Dh133,000) — and with Kamal Haasan himself dubbing his lines into Hindi, along with Asha Bhosale recording the songs, Lall crafted a complete Hindi version ready for release. 'Basically, I'm a marketing man. I can sell coal to Newcastle," he says. He orchestrated a marketing blitz in Mumbai, plastering hoardings across the city. His stunt of accepting just one rupee as a signing fee from distributors created a sensation. 'That gimmick went like wildfire,' Lall laughs. Distributors queued up. Even before the movie's release, Lall had made table profits of about Dh2 million. 'The picture was not even released yet," he chuckles. When Appu Raja in Hindi finally premiered in 1990, it wasn't a small affair. Lall booked eight theatres simultaneously and recreated the glamour of a Hollywood-style launch — spotlights, bands, and a full takeover of Mumbai's busy streets. 'It became the talk of Bollywood,' he says. 'They said, 'this idiot is doing a bigger premiere for a dubbed film than we do for mainstream Bollywood films!'' The film's success cemented his place. "They called me the Dubbing King of India," he recalls with a quiet pride. His keen eye for stories and marketing savvy bridged the worlds of South Indian cinema and the Hindi-speaking audience long before it became fashionable. Lall reflects on what made his approach different: 'The most important soul of a film is the script,' he says. 'Bollywood at that time was making projects, not stories. The South understood discipline and script much earlier.' He fondly remembers working with greats like Mani Ratnam and A.R. Rahman in their early years. But success also came with its share of betrayals. A bidding war over the film Bombay taught him how cutthroat the business could be. 'You win some, you lose some,' he says philosophically. His journey through life hasn't been without deep regrets. "The main regret is my children and my family, whom I hurt," he says. Having married young and later walked away from his marriage, Lall is brutally honest about the pain he caused. "I take the entire blame," he says. "I missed my children's childhood. I wasn't there for them." He's equally unsparing about his personal failures in relationships. 'The problem was ego," he says. 'I kept finding excuses to move on to the next one. I realised later it was my fault. Lack of communication destroys marriages.' Facing death up close — four heart attacks, cancer, and serious surgeries — has transformed his view of life. "When you're lying in ICU with pipes in you, you realise all your money and property have no meaning," he says. "Today, I don't take stress. Whatever happens, happens. Ninety percent of people die because of stress.' This positive attitude, he says, was something he learned from a mentor. "He faced hurdles like no man I have seen, and he always stayed positive. That stayed with me," Lall says. Despite betrayals, Lall remains generous with his goodwill. 'I am friendly even with those who stabbed me in the back,' he says. 'They can't even look me in the eye, but I hug them, I call them. Keep your enemies close.' His long list of friends in Bollywood — from Anupam Kher to Anup Jalota to Pankaj Udhas — remains intact. "The reason our friendships lasted is because I never mixed business with friendship," he says. Today, Rajan Lall's story is inspiring filmmakers beyond Bollywood. He has been approached for a documentary chronicling his remarkable life. "Even if nobody watches it, even if it's just me and my family at home, that's enough," he says. "We need to leave a legacy behind." If his life were ever turned into a feature film, Lall jokes he'd pick Hrithik Roshan to play him. But true to his spirit, he shrugs: 'I don't know. I did it my way.'
Khaleej Times
21-04-2025
- Business
- Khaleej Times
RAKBank profits rise 22.7% in first quarter of 2025
The National Bank of Ras Al Khaimah (RAKBank) on Monday announced that first quarter profit after tax rose 22.7 per cent to Dh70 million. Operating profit stood at Dh866 million, up 10.2 per cent year on year, on the back of strong growth in balance sheet and non-interest income. Operating expenses grew by 11.8 per cent vs last year driven by continued investments in technology, data, people and customer experience. Cost to income ratio (CIR) at 33.4 per cent vs. 33.1 per cent for the first quarter of 2024. Total assets have crossed Dh90 billion for the first time in the bank's history. Gross loans and advances surpassed Dh50 billion mark, reflecting a 16.7 per cent year on year increase. Growth driven by all segments, with wholesale banking loans growing by 30.1 per cent year on year, aligning with the bank's diversification strategy. Customer deposits reached Dh61.0 billion, up 18.2 per cent year on year, with a CASA1 ratio of 65 per cent, up 10.2 per cent year on year, one of the highest in the industry. Portfolio credit quality remains robust with cost of risk at 0.8 per cent as against 1.5 per cent during the same period last year, supported by a strategic shift in business mix towards secured, low risk assets. RAKBank's impaired loan ratio as at the first quarter of 2025 improved to 2.1 per cent against 2.6 per cent as at the first quarter of 2024 while provisions to gross loans ratio of 5.6 per cent compared to 6.0 per cent as of the first quarter of 2024, providing adequate coverage. Shareholder returns remained strong with return on equity (ROE) of 22.4 per cent against 21.4 per cent in the first quarter of 2024 and return on assets (ROA) of 3.2 per cent against 3.1 per cent in the first quarter of 2024. Capital adequacy ratio The bank remains well capitalised with capital adequacy ratio (CAR) at 18.6 per cent for the first quarter of 2025 against 17.2 per cent as at the first quarter of 2024. Strong liquidity position is reflected by an eligible liquid asset ratio of 17.1 per cent vs. 13.5 per cent at the first quarter of 2024 and advances to stable resources ratio at 76.4 per cent vs. 78.7 per cent at the first quarter of 2024. Total assets increased by Dh12.2 billion, reflecting a growth of 15.5 per cent compared to the first quarter of 2024, with an increase in gross loans and advances of Dh7.2 billion, investments by Dh1.9 billion and cash and balance with CBUAE by Dh4.1billion. Wholesale banking significantly contributed to the growth of the balance sheet, with segmental assets growing by Dh4.8 billion, a 12.3 per cent increase compared to the first quarter of 2024. Business banking assets grew by Dh589 million, a 5.8 per cent increase compared to Q1 of last year delivered primarily through growth in SME and commercial loans. Personal banking loans and advances rose by Dh2.8 billion to Dh23.1 billion compared to last year with mortgage and leverage loans driving growth, bringing in Dh2.0 billion and Dh728 million year-over-year respectively Customer deposits increased by 10.2 per cent to reach Dh61billion, while maintaining one of the industry's highest current and savings accounts (Casa) ratios at 65 per cent. 'Our Q1 2025 performance highlights the sustainability of our strategy, driven by strong growth across all business lines. We continue to invest heavily in our technology, data and experience capabilities whilst maintaining cost discipline,' said Raheel Ahmed, group chief executive officer, RAKBank. 'The global outlook remains uncertain as newly introduced U.S. tariffs raise concerns around trade flows and economic stability. Despite this, the UAE continues to demonstrate resilience, supported by strong economic measures. We remain confident in the UAE's solid foundation and are committed to supporting our customers through these uncertain times,' he added.
Khaleej Times
30-03-2025
- Business
- Khaleej Times
Jafza expands logistics park with Dh90 million investment to meet surging demand
Jafza is strengthening its position with a strategic Dh90 million investment in Phase 2 of its cutting-edge Logistics Park, a company statement said. Adding 360,000 square feet of Grade-A facilities, the expansion aligns with the UAE's push to grow its logistics sector to Dh200 billion annually in the next seven years and cements Dubai's role in international trade. The second phase delivers world class infrastructure, including modern offices, customisable units, temperature-controlled warehouses, loading docks, and enhanced power capacity to support diverse industries. Abdulla Al Hashmi, chief operating officer, Parks & Zones, DP World GCC, said: 'The expansion of Jafza Logistics Park reflects our commitment to helping businesses compete globally and simultaneously drive foreign investment into Dubai. Phase 1 was fully leased before completion, highlighting strong demand for quality logistics and warehousing, and Phase 2 takes this a step further - offering flexible, high-quality solutions to support growth in multiple sectors. This brings the total area of Jafza Logistics Park to over 922,000 square feet as we continue to grow our state-of-the-art infrastructure.' With the Middle East and Africa's freight and logistics market set to hit $235.8 billion by 2031, demand for advanced warehousing is accelerating, including in Dubai, where sectors like manufacturing, logistics, construction, and e-commerce are driving unprecedented growth. The newly expanded park is expected to close this gap — offering market access by leveraging Jafza's connectivity with Jebel Ali Port and providing advanced storage and handling solutions including contract logistics, freight forwarding and freight management for everything from tech and automotive parts to fashion and packaged food. It also provides value-added services like packaging, labelling, and quality control, with real-time inventory tracking, and enables re-exports, domestic fulfilment, and import-export consolidation. Designed with sustainability in mind, the park incorporates precast concrete and off-site construction methods to minimise environmental impact, as well as skylights to maximise natural daylight and cut energy consumption. Jafza currently hosts 10,890 companies from 150 countries, supporting over 160,000 jobs and contributing Dh620 billion in trade annually. Phase 1, completed in November 2023, spans 562,507 square feet, featuring Grade-A dry and pharma storage units, temperature-controlled warehouses, and office spaces.
