An Emirati billionair, Hussain Sajwani is a property developer and the founder of DAMAC Properties. Known for his real estate development, the DAMAC owner was listed by Forbes in 2018 as the number 4 wealthiest Arab in the world, having a net worth of $4.1 billion.
Hussain Sajwani earned a bachelor’s degree from the University of Washington in Industrial Engineering and Economics. He was among the first students to earn a scholarship that granted him the opportunity to study in the United States, which resulted in him earning his degree. He founded DAMAC in 2002, and throughout the years the company developed more than 19,000 apartments, being one of the largest companies that deals with property development in the Middle East. In 2015, the company became publicly-traded and was listed on the Dubai Financial Market. Prior to founding DAMAC properties, Sajwani worked for Abu Dhabi Gas Industries in 1981, and also started a catering business which is now known as Global Logistics Services.
The DAMAC Owner also created the joint venture Hussain Sajwani – DAMAC Foundation which aims to offer support to the ‘One Million Arab Coders’ initiative. The initiative was started by Sheikh Mohammed bin Rashid Al Maktoum, and its mission is to equip the young generation with the language of the future. The program aims to offer free software development training to one million members of the Arab community, helping its students gain the necessary skills in the field of coding in order to further develop the digital economy. According to roayahnews.com, the program offers Front End Web Development, Data Analytics, App Development, and Full Stack Web Development, and it also aims to help Arabs earn employment opportunities in the tech field. The three stages of the program are: registration, completion of various three-month coding programs, and during the final stage the top 1,000 coders compete, with the winner earning $1 million.
The home-grown DAMAC also aims to offer back to the community in which it operates, by engaging in various philanthropic activities throughout the years. They support a number of organizations that focus on education, including Emirates Red Crescent, and Dubai Cares.
Visit this link: https://www.albayan.ae/economy/local-market/2018-02-12-1.3184075
It is common practice for beer companies to withhold some information regarding the types of cereals used. They also conceal the unmalted cereals used; only to mention that your favorite beer contains unmalted cereal. Well, that trend has been formally ended by a Federal Court in Goias. The ruling has directed all beer manufacturers to not only indicate the presence of unmalted cereals but most importantly, to specify which unmalted cereals have been used. The information can be accessed on FagasPress, a blog site that Bruno Fagali uses to keep the corporate sector and other interested readers updated regarding the latest developments that touch on corporate ethics.
FagasPress, the blog that Bruno Fagali uses to update readers on ethical developments in the corporate sector, reports that the ruling on beer labels is not exactly new. Sometime back in 2016, the Public prosecutor filed an urgent case with the federal courts seeking to have beer companies to supply the names of unmalted cereals used in their beer by printing them on the beer labels. The case was dealt a temporary blow because the courts temporarily deferred it. The judges found no urgency to compel the beer companies to do what the prosecutor requested. The prosecutor had asked that the beer companies be compelled to comply within 60 days. However, the ruling in the preliminary injunction request was only dealing with the time frames, the substantive case came to the full hearing, and now the verdict is out. It was reported that earlier on before the Office of the Public Prosecutor took the step, the issue had been slated for an agreement between the parties. The beer companies are said to have taken a hard stand, citing patent issues.
The Ruling Favors the Bruno Fagali Campaigns
The ruling further adds tinder in the ethics compliance fire that Bruno Fagali started. In his sentence, Judge Juliano Taveira Bernades humorously summarized the ruling by stating that although the ruling ran for over 38 sheets, there was no stuffing and that he would not bore the parties with reading all the details. He pointed out that the case was determined by considering four-pointers. The determiners were: whether the CDC demands that such information is provided, whether the Law 8.98 of 1998 also calls for the same, whether Decree 6.871 of 2009 directs as such and whether implementing such a requirement would be realistic and practicable. In summary, according to Bruno Fagali, through FagasPress, the beer companies had been contravening the law and infringing on consumer right to information.
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