CONTENTS
w w w. t h e e d g e - m e . c o m
2012
CONTENTS FINANCE & ECONOMICS
.34. MARKET WATCH
Dheeraj Shahdadpuri reveals the latest analysis of lead economic indicators.
.36. BALANCE SHEET
Kanchan Ghoshal explains the formula of workforce productivity.
.38. SPECIAL REPORT
Qatar’s petrochemicals production on the rise.
.40. PERSONAL FINANCE Savings scheme advice.
.42. ECONOMIC BAROMETER
ON THE COVER
Future potential energy shortages may occur in parts of the Gulf Cooperation Council. Edward Jameson investigates this paradoxical reality, which may seem unbelievable due to the abundance of fossil fuel in the region. (Page 46).
.64. LEGAL INSIGHT
The labour law aspects of social media in the Qatari workplace.
.66. INFORMATION TECHNOLOGY
The rapid progress of high speed digital technology in Qatar.
2012 global economy forecast.
FEatures .50. FEATURE STORY
Assistive technology in Qatar.
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.54. BUSINESS INTERVIEW
Sheikh Mohamed bin Faisal Al Thani
KNOWLEDGE & EXPERTISE .60. BUSINESS MANAGEMENT
Innovation in the corporate world.
.62. PRODUCTIVITY AND WELLBEING How fit are your employees?
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BuSINESS INSIGHt
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.70. BUSINESS INSIGHT INTERVIEWS
Michael Bellamy, managing director of PII spoke to TheEDGE about PII Pipeline Solutions, a 50/50 joint venture formed in May 2010 between GE Oil and Gas and Qatar Petroleum’s Al Shaheen Holding; and we interview Aon Hewitt’s David Jones about the recent extensive Qurudat GCC workplace study and its surprising results.
REGuLArS .06. .07. .12. .18. .20. .25. .75. .80. 4
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FROM THE EDITOR CONTRIBUTORS NEWS ETCETERA QATAR IMPACT MIDDLE EAST MATTERS ENERGY AND RESEARCH TRAVEL & LIFESTYLE 10 THINGS
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FROM THE EDITOR
FROM PUBLICATIONS DIRECTOR Mohamed Jaidah m.jaidah@firefly-me.com MANAGING EDITOR Miles Masterson m.masterson@theedge-me.com DEPUTY EDITOR Erika Widén e.widen@theedge-me.com REGIONAL SALES DIRECTOR Julia Toon j.toon@firefly-me.com +974 66880228 HEAD OF BUSINESS SALES Emma Land e.land@firefly-me.com +974 33197446 SALES MANAGERS Achraf Mannai’s a.mannai@theedge-me.com +974 55127480 Joseph Issac j.issac@firefly-me.com +974 33675301 DISTRIBUTION & SUBSCRIPTIONS Azqa Haroon a.haroon@firefly-me.com +974 55692471 CREATIVE DIRECTOR Roula Zinati Ayoub ART DIRECTION Lara Nakhlé DESIGN COORDINATION Charbel Najem DESIGNERS Sarah Jabari FINALISER Charbel Najem PHOTOGRAPHER Herbert Villadelrey PRINTED BY Ali Bin Ali Printing Press, Doha, Qatar
THE EDITOR
As a monthly print magazine primarily focused on the macro business space in Qatar, TheEDGE must comprehensively cover oil and gas as well as financial services and related content, as these two sectors have dominated the economy in the country so far, and will do so for the foreseeable future. However, regular readers of TheEDGE will also recognise due attention being paid every issue, in some form, to real estate and construction, trade and industry, business management, human resources, transport, aviation, tourism and conferences, retail, commerce and legal matters, as well as the business aspects of healthcare, sport and education, among others. These are all active components of Qatar’s business community and thus warrant frequent inclusion. However, in lock step with Qatar’s 2030 National Vision and the quest to become a knowledge-based economy, there are three interrelated areas that are growing in prominence in the country, and by no coincidence, in this publication. These are research and innovation (which we highlighted as a cover story last month), information technology (IT), and entrepreneurism and small business growth. So, aside from hydrocarbons and finance, which usually feature prominently, and all the rest, every month one of the immediate trio above is increasingly rising to the fore. This is a real-time reflection of what is going on in this country and are resultant pertinent topics, for which we strive to do justice. This issue IT has edged ahead (pun not intended). As discussed by Charles Vincent on page 66, with the roll out of high-speed fibre optic cables in the region, Qatar’s digital connectivity is increasing rapidly and the country seems set to fulfil its agenda to
become an IT hub in MENA. In the lead up to the QITCOM and various other IT-related events in the region, this is highly topical. On page 50 though, Rachel Morris takes a different tack on the subject, looking at how ‘assistive technology’ is bettering the lives of those who need it most, such as the physically challenged, and in healthcare and education. On page 64, Safwan Moubaydeen also examines IT and Qatar law, notably the pitfalls Qatar firms face if they do not have an astute social media staff usage policy. But, you might be thinking to yourself, from the cover of this edition it seems that power generation is the dominant topic for TheEDGE February 2012, and not IT. In a way, you would be right, and Edward Jameson’s In The Spotlight on page 46 certainly does highlight the issues the GCC faces in terms of producing sustainable power, as demand grows apace. Yet, it is not a stretch to see the connection. As IT starts to become a crucial component of Middle East business and job creation, the need for reliable, affordable electricity becomes more obvious – as you cannot have the former without the latter. Fortunately Qatar seems to be in a good position when it comes to both IT and power generation, and looks to play a major role in helping the region find solutions to the associated challenges, that both these pressing modern needs will present in the immediate future. And, of course, TheEDGE, ‘Qatar’s Catalyst for Business’, will cover it. Miles Masterson, Managing Editor
Firefly Communications PO Box 11596, Doha , Qatar tel: +974 44340360 Fax: +974 44340359 www.firefly-me.com
theEDGE is printed monthly © 2011 Firefly Communications. All material strictly copyright and all rights reserved. reproduction in whole or in part, without the prior written permission of Firefly Communications, is strictly forbidden. All content is believed to be factual at the time of publication. Views expressed by contributors are their own derived opinions and not necessarily endorsed by theEDGE or Firefly Communications. No responsibility or liability is accepted by the editorial staff or the publishers for any loss occasioned to any individual or company, legal or physical, acting or refraining from action as a result of any statement, fact, figure, expression of opinion or belief contained in theEDGE. the publisher (Firefly Communications) does not officially endorse any advertising or advertorial content for third party products. Photography/image credits and copyright, where not specifically stated, are that of Shutterstock and/or iStock Photo or Firefly Communications.
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CONTRIBUTORS
CONTRIBUTORS
PG.25 JAMIE STEWART International Correspondent London, United Kingdom
PG.34 DHEERAJ SHAHDADPURI Analyst Dubai, UAE
P.36 KANCHAN GHOSHAL Director, People & Change Advisory KPMG Doha, Qatar
PG. 38 MATT GHAZARIAN Editorial Contributor Oxford Business Group Istanbul, Turkey
PG. 40 DAVE RUSSELL CEO Guardian Wealth Management Doha, Qatar
PG. 42 KARIM NAKHLE Senior Business Strategist Doha, Qatar
PG.46 EDWARD JAMESON Senior Business Journalist MENA Region London, United Kingdom
PG. 50 RACHEL MORRIS Journalist MENA Region Doha, Qatar
P.62 LAUREN PENNY CEO & Partner Art of Abundant Living Doha, Qatar
P.64 SAFWAN MOUBAYDEEN Managing Partner SNR Denton Amman, Jordan
P.66 CHARLES VINCENT Director Digital Division Firefly Communications Doha, Qatar
PG. 76 VICTORIA SCOTT Journalist Doha, Qatar
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About TheEDGE: theEDGE is an ambitious business magazine targeting professionals operating within Qatar’s multi-sector business landscape. Printed monthly, theEDGE was launched in July 2009 to fill the market void and to provide the business community with insight into the latest business trends and market developments. theEDGE is distributed 11 times yearly to a readership base of more than 7500 professionals, providing advertisers with the needed additional reach and frequency to their most important and affluent audience. theEDGE is an authoritative business resource serving both large and small business operators. Please e-mail info@theedge-me.com should you wish to contribute.
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