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Will Expats Pay the Price? WORK Special Feature
Will Expats Pay the Price? Business
GCC Can Diversify without Taxes Business
2016 set to be tight for salaries Property
Are UK House Prices About to Crash? Affairs
Gulf States Prepare VAT Laws Telecom
GCC Lowers roaming rates
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New Visa Procedures for “Some” UAE Visitors Art
Behind the Scenes with Giselle
56
B u si n ess w it h S t y l e Publisher & Editor in Chief - Nicholas C. Cooksey
Comment...
Editorial - Abeer Saeed Parkar Regular Contributors - Hugh Haskell-Thomas - Nicholas Cortes - Bill Daly Guest Contributors - Tariq A. Al Maeena - Rich Hutchinson - Loe Babauta
The Next Economic Collapse? Reporting on the current financial instability was a bit daunting. On one hand we hear about the various incentives and opportunities still present in the Gulf Region, while on the other we fear a conflict spillover coupled with falling revenues and economic reforms that might squeeze the value out of our assets.
Layout Designs - Dhanraj S Admin & Finance - Nikesh Pola Photography - Shareef Panhatt Distribution Executives - Mohammed Yousif - Muhammed Shareef - Rafnaj K P
How will the global authorities manage more debt writes-off like they did in 2008? Which emerging market do we turn to now? Will a region wide VAT tax structure and increased cost of living do any good to the GDP figures?
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These are the questions many of us will be asking and would want answered in the next few months. As for now, we suggest the lot of us (or at least the expats) better practice our energy saving methods - keep the lights dim and turn off the tap while brushing. It’s probably a good time to contemplate carbon footprints too.
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The multi-award winning Arabian magazine
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Business with style
Issue 133
for WORK see page 08
Business with style
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Established since 2004, Gulf Insider is the multi award winning Arabian business and current affairs magazine that also covers property and expat news, interviews, car reviews, travel features, even a bit of art and fashion. The monthly print edition of Gulf Insider is distributed to Bahrain’s highest spending consumers and decision makers. There’s also limited distribution in other GCC states via airline lounges, duty free, ARAMCO in the KSA, and other strategic locations.
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Send your views to info@Gulf-Insider.com Enter the Dragon
The multi-award winning Arabian magazine
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Following all the hype about Dragon City, my family and I paid the place a visit, only to find out that half the stores were still closed or lacked merchandise. But then again, the outlet’s been open just a month – until then, I guess the dragon is still sleeping.
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Bahrain’s Agriculture Sector
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I’m a little disheartened, seeing the GCC countries rushing to restructure and broaden revenue sources this late into the game. The VAT announcement hasn’t been received too well; a tax-free lifestyle is what brought so many people to the region. My friends and I are a bit skeptical about where this is headed. - Gary
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Halal Tourism Leads Global Travel Sector
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As an avid salad eater, it was refreshing to read about Peninsula Farms and Hydroponics, I always wondered how they got the leaves to look so clean and soil-free. The other day my coworker brought in a detox smoothie made with Saudi Kale she purchased from the Budaiya Market at cost of a few Fils. A lot cheaper than BD2.4/- Ibrahim N.
10 Habits You should Break in 2016 to be more productive While the title reads “10 habits to break” the introduction paragraph mentions there are “13 things you should stop doing right now.” So I’d like to contribute with these three productivity tips you missed and might find helpful: 1) work for productive visionary leaders, 2) wake up an hour early to get a head start on your day, and 3) slot in some down time for yourself – watching an episode of your favourite sitcom or taking a short walk to clear your head can do wonders.
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Qatar Airways sees 25% growth in 2015 Qatar Airways CEO Akbar Al Baker has said the airline grew by 25 percent in the past year, largely due to improvements in efficiency and how it looks after its passengers. Al Baker, speaking during a panel discussion on ‘Air Transport in the 21st Century’ at the Bahrain International Airshow, said its growth is because the airline delivers a product that customers want and has the advantage of being able to operate out of an airport that is open 24-hours a day. Al Baker said they have also invested in its onboard products and services, and said the airline will unveil a brand new product by the end of the year. – Arabian Business
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Gulf Insider February 2016
Middle East family firms focus on corporate governance Better corporate governance is a matter of survival for the many family companies that handle 80 per cent of non-oil GDP in the Middle East and North Africa region. The vast majority are in their second generation of owners and are facing the difficult prospect of handling succession to the third generation. “In the next ten years more than $1 trillion of businesses will pass a generation of owners. The records show that 15 per cent of businesses fail in the first transition from father to sons, and 45 per cent fail in the next from brothers to cousins,” said Badr Jafar, President of Crescent Petroleum and founder of the Pearl Initiative, talking to Gulf News at the World Economic Forum in Davos. The Pearl Initiative is a not-for-profit organisation that promotes better business practice including corporate accountability and transparency and is working with many family companies across the region to improve their governance. “We need to strengthen these existing big businesses so that we can handle the demographic crisis more effectively and provide the jobs that the rapidly growing population will need,” said Jafar. “We cannot just rely on entrepreneurial start ups, important as they are, because only 1 in 10 will succeed. Therefore it would be folly to allow the expected high proportion of family businesses to fail if they can be helped improve their governance and survive.” – Gulf News
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Launch of an Employer Survey that Focuses on Labour Market Dynamics Following the transfer of the “Labour Market Observatory” responsibilities to Tamkeen, an Employer Survey has been launched, which aims to capture a comprehensive portrait of the labour market in Bahrain and focus on the different dimensions of supporting career advancement in the kingdom. As part of the transfer of responsibilities of the High Council for VocationalTraining to Tamkeen, the Labour Market Observatory is now under the jurisdiction of Tamkeen. The Labour Market Observatory was launched to define, map, interpret and communicate labour market intelligence taking into account career advancement for Bahrainis, to match the demand for the right skills and qualifications in the private sector. More importantly, establishing a system that collects and analyses labour market information and statistics which creates a platform used in guiding policies and decision-making, as well as informing young people, parents, students, and employers on the choices they need to consider to improve employment opportunities in the economy. Furthermore, Tamkeen encourages all selected employers to participate in this Survey, as it is a critical component of the primary research process of the Labour Market Observatory. The objective is to capture information related to business strategy on the following aspects: recruitment, vacancies, employability skills and training investments.
Saudi Arabia to double FDI flows by attracting non-oil foreign investors Saudi Arabia aims to at least double annual inflows of foreign direct investment over the next 10 years by focusing on new sectors such as mining, healthcare and information technology, the head of its investment agency has said. The plan outlined by Abdullatif Al Othman, governor of the Saudi Arabian General Investment Authority, or Sagia, is part of a radical revamp of economic policy as the kingdom seeks to adapt to an era of cheap oil. In the past, foreign investment was heavily concentrated in the oil and gas sector of the world’s top crude exporter, as well as downstream industries such as petrochemicals. Inflows of FDI peaked at about $40 billion in 2009 but have been trending down since then and totalled just $8 billion in 2014, figures from the United Nations Conference on Trade and Development show. Initially, mining may prove one of the most attractive investment areas for foreigners. While the kingdom has been extensively explored for oil and gas, Othman said deposits of many other minerals had not yet been fully identified. It is believed to have big deposits of phosphate, bauxite, base metals and gold. In a joint venture that could become a model for future projects, a local firm, majority state-owned Saudi Arabian Mining, began producing copper last month at a mine near holy city of Madinah along with Canada’s Barrick Gold. – Khaleej Times
KAIZEN for Bahrain’s private sector Tamkeen announced the launch of the KAIZEN quality consultancy programme, which will provide businesses with a number of opportunities to adopt the Japanese KAIZEN business framework, in cooperation with the Japan International Cooperation Agency (JICA). KAIZEN, a Japanese word meaning “improvement”, is a project feature which streamlines organisational processes by eliminating procedures which add no additional value to an organisation. The project also creates a sustainable mechanism to promote the most efficient allocation of organisational resources. Implementation of KAIZEN allows businesses to deliver incremental quality and productivity output throughout entire organisational structure.
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News
Gulf countries urged to invest in education, ‘knowledge companies’ Amid sliding oil prices, Gulf countries, including Qatar, “should not be upset” of the oil crisis but should rather invest in “knowledge companies” and the development of the education system, a leading economist has said. Dr Talal Abughazaleh, chairman and founder of Talal Abughazaleh Organisation, stressed that the fall in oil prices was not the result of supply and demand but rather “the result of political will and political mood.” According to Abughazaleh, the oil crisis is an opportunity for the Arab region to diversify from hydrocarbons and invest in the creation of “knowledge companies” by developing the education system. “We know that oil producers have reserves, which can be used to cover the basic budget needs but aside from that I think what we need to do is decide on what must be done in the future. And what must be done in the future should be what Scandinavian countries have done, which is to become knowledge creators...the creation of wealth is out of the creation of knowledge. – Zawya
GCC businesses warned to be on high alert against rising cyber security threat Businesses need to be on high alert in the GCC to combat the growing threat from computer hackers, an IT transformation management expert warned. Morten Meltinis, IT expert at PA Consulting Group, said a number of recent scares have underlined why security must be high on the business agenda in the GCC to counter the increasing risk of cyber breaches. PA said organizations need to understand their own weaknesses and increase their combined security knowledge, in the process making employees guardians of digital assets, rather than the potential source of risks. “The UAE, for instance, is rising on the global list of countries with a high risk of having your computer infected and thereby vulnerable to being hacked,” said Meltinis. “According to Kaspersky Labs, the UAE is in the second highest risk group of five.” – Saudi Gazette
Kuwait in spending spree on development projects Kuwait awarded projects worth a record $32 billion last year and plans to raise the figure in 2016 despite a sharp decline in oil revenues, an economic report said. Last year’s awards were 20 percent higher than in 2014, National Bank of Kuwait, the largest lender in the state, said in a report. Over half of the amount spent on projects in 2015 went to the oil and gas sectors, it said. The awards include a $13-billion contract to build a new refinery with a capacity of 615,000 barrels per day and a heavy oil production facility costing $4 billion. In the transportation sector, the government awarded a $4.3-billion contract for the airport expansion but the project has not yet been signed. This year appears to be a bumper year with contracts worth $55 billion expected to be signed before the end of 2016, NBK said. The projects include a $3.3-billion liquefied natural gas import terminal, a $7-billion petrochemicals project and a natural gas development project worth $5.7 billion, it said. The government also plans to tender a large number of projects in the power, health and housing projects in 2016. The investment spending spree comes although Kuwait is projected to post its first budget deficit due to low oil prices, after 16 consecutive years of windfall. During those 16 years, the state amassed fiscal reserves of over $600 billion. In February, parliament approved a five-year development plan that envisages spending KD 34 billion ($112 billion) between the current 2015/2016 fiscal year and 2019/2020. Like other Gulf states, Kuwait’s economy heavily relies on oil which contributes 94 percent of public revenues. – AFP
Gulf Insider February 2016
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Saudi Arabia to grant first license in airline liberalisation by end-March Saudi Gulf Airlines is set to obtain regulatory approvals to launch flights within the kingdom by the end of March, a top official at Saudi Arabia’s aviation watchdog has said. Should the licence be granted to the privately-owned airline, it would be the first to be awarded under plans to liberalise the kingdom’s aviation market. “We expect them to fly end of March, early April,” Abdulhakim Altamimi, assistant president for safety, security and air transport at the General Authority of Civil Aviation (GACA), told Reuters on the sidelines of the Bahrain Airshow. Only national carrier Saudi Arabian Airlines and budget operator National Air Services currently serve a domestic market of about 27 million people. Foreign carriers can only fly in and out of Saudi Arabia and not within the country. – Reuters
Larsen & Toubro to build Oman airport terminal Larsen & Toubro (Oman) has been contracted to construct the terminal building and associated facilities for a regional airport in Oman. “Larsen & Toubro (Oman), a subsidiary of L&T, has bagged an order worth $93.1 million from a prestigious client to construct a regional airport in the Sultanate of Oman. The scope of work includes the construction of a passenger terminal building, an air traffic control (ATC) complex, cargo and other service buildings, including mechanical, electrical and plumbing (MEP) works, special systems and external works,” L&T India said in a stock market filing on the Bombay Stock Exchange. – Times of Oman
Groundbreaking Ceremony Marks Start of $55 million Re-melt Expansion at GARMCO GARMCO , the Bahrain-based international aluminum rolling mill and one of the largest downstream aluminum facilities in the Middle East, broke ground recently on their re-melt extension. The re-melt project, in collaboration with Fives, an industrial engineering group and supplier of machines, process equipment and production lines for the world’s largest industrial companies, is an EPC (Engineering, Procurement & Construction) Turn-Key project, which will enable GARMCO to develop its metal recycling capability and lower the cost of metal casting. The new project once complete will enable GARMCO to produce 120,000 tons of aluminum slabs, create approximately 50 new jobs, generate significant cost savings and further bolster GARMCO ‘s position as one of the most sizeable employers in the Kingdom. The total cost of the project will reach up to $55 million and is part of a three year program that aims to increase profitability and growth opportunities for the Company on a regional and international level. – Zawya 14
Gulf Insider February 2016
Special Feature
Will Expats Pay the Price? Bahrain has begun implementing measures to offset the effects of falling oil prices and a budget deficit of BD1.56 million, however leading professionals are concerned SMEs and expatriates will take most of the brunt.
“I
n some cases being in debt is good, in fact it’s a positive signal for the country,” says Dr. Fatema Majeed Alaali, Assistant Professor in Economics at Ahlia University Bahrain. But she explains that the outcome of debt is only good if it’s spent on investment and increasing productivity, and not to cover expenses such as subsidies. “Although Bahrain has made great efforts to diversify its economy, it still continues to depend heavily on oil. Petroleum
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Special Feature
Dr. Fatema Majeed Alaali, Assistant Professor in Economics at Ahlia University Bahrain. production and refining form about 75% of its exports - 80% of government revenues and 19% of GDP,” she says, “In addition, Bahrain’s oil and financial reserves are very low compared to its Gulf neighbours, which make it the most affected country due to the drop in oil prices.” Meanwhile, according to reports, Kuwait has announced financial reserves worth USD600 billion and has awarded projects worth USD32 billion just last year, despite the huge decline in oil revenues. There has been ongoing debate between Bahrain’s business community and government officials on how to come up with effective strategies that will not create a divide between expatriates and nationals during economic insecurity and bypass any social instability such drastic measures might cause. Starting March 1st, expatriates will be paying a higher cost for water and electricity as the government begins lifting utility subsidies, planning to completely slash them by 2019. However the cuts currently apply to expats, Bahrainis with more than one household, large companies and the industrial sector. Meat subsidies were lifted last year for everyone in the country while Bahrainis could register online for direct compensations. Cuts in fuel subsidies came next last month, with Mumtaz fuel costs increasing to 160 fils per litre and Jayyid set at 125 fils. Many expatriates are now voicing concerns on how they’re expected to adjust with the increased cost of living – one individual we spoke to even cancelled plans to purchase a residential property saying the investment is not worth it when he’s obliged to pay more in utilities than his Bahraini neighbour. In the latest of economic changes, GCC wide taxes (VAT) have also been announced and will
be implemented starting in 2018. According to a recent report by the Gulf Daily News, economists and business leaders convened at Bait Al Tijjar for a meeting organized by the Bahrain Chamber of Commerce and Industry (BCCI) to discuss concerns about government subsidies and the impact austerity measures will have on Bahrain’s economy. Most BCCI members forecasted lower retail spending, higher unemployment rates due to companies downsizing or closing down, reiterating that taxes are a relatively new concept for this part of the world and that it requires proper consultation. Notably, Mr. Abdulrahman Fakhro, a prominent businessman, said that he believed the topic of subsidies was not fully studied and requires more
“Debt is only good if it’s spent on investment and increasing productivity, and not to cover expenses such as subsidies.” understanding since it affects various segments of society. He requests a study is conducted to ensure that decisions by the authorities do not discriminate between Bahrainis and expatriates. “Government subsidies form 21% of the expenditure and have become expensive to afford,” Dr. Alaali mentions, “A result of increasing utility prices on expats is that many may leave Bahrain since a majority of them fall into the low to middle income category. About 90% of expats earn less than BD350 per month according to Gosi and PFC records. Moreover, only 20% of Bahrain utilities accounts are owned by expatriates. If we compare Bahrain with the UAE, we will find that the percentage of expatriates is much higher and reaches 87% of the
population besides their level of income.” Dr. Alaali recommends revising the current decision and study the category of foreigners and locals that benefit from subsidies so that expatriates and the private sector in Bahrain are not harmed. Gulf Insider spoke to MP Jalal Kadhem, the parliament’s Financial and Economic Affairs Committee vice-chairman, who reportedly stated in December that new tax proposals for expats and the private sector in Bahrain could bring in $1 billion (BD400 million) in extra government revenue. He proposes new rates for traffic registrations and inspections, fees for expat students at government schools and increased rates for unused plots of land, sewage services and road tax, adding that the government has to
MP Jalal Kadhem, the parliament’s Financial and Economic Affairs Committee vicechairman stop charitable causes that non-Bahrainis benefit from. MP Kadhem confirmed that the debt ceiling has been raised from BD7 billion to BD10 billion this year to fund public spending. However he noted that there is no plan laid out as to how this funding will be directed and re-invested, stating that he would like to see a ministry of planning that can supervise the introduction and implementation of new businesses and factories to diversify the nation’s economy. With regards to the divide between expatriates and nationals, MP Kadhem explained that since 90% of nonBahrainis are sponsored by Bahrainis or Bahraini businesses, it is eventually the Bahraini individual who will be increasing his employee’s salary and/or paying for expenses such as accommodation, transport and other allowances. “The Bahraini employer will look after his
Gulf Insider February 2016
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Special Feature
non-Bahraini employee,” he states. He concluded the meeting by saying that even with the hiked tariffs, Bahrain’s utilities still cost less compared to the GCC and that he personally wouldn’t have any problem in obliging by the rules of a country he was living in as an expatriate. “Expats are the engine of Bahrain’s economy,” says Mohammad Sajid, Chairman of Bahrain Asian Trader’s Committee (BATC), “There were rumours earlier that water and electricity prices will be increased, but I think for most people it came as shocking news.” Mr. Sajid commented that although he understands the government had to
Mohammad Sajid, Chairman of Bahrain Asian Trader’s Committee (BATC), take a drastic step to cover deficits, he would have appreciated if the business community was asked for advice prior to such a decision. “Being a family and part of the economy, businesses were 18
Gulf Insider February 2016
not consulted and there is no vision on how SMEs, which make up 80% of the market will be provided any map of relief.” “SMEs have limited budgets and the atmosphere isn’t looking good. This is not the time to negotiate, but it’s valid to ask that if you’re increasing costs,
A current BD9 electricity bill (for the lowest consumption category) will cost BD87 in four years, likewise, a BD1.5 water bill (for the lowest consumption category) will cost BD45 towards the end of the subsidy cut. what are you giving back?” Mr. Sajid noted. “When we had an economic crisis earlier Bahrain paid subsidies and we’re thankful for that,” Mr. Sajid says. However, he hopes that salaries are
increased for expatriates in return for paying more to live in Bahrain. That being said, he says everyone has to agree with the authorities and continue to stand shoulder to shoulder. Gulf Insider also spoke to a Bahraini national who shared his concerns on how these changes will affect the expatriate demographic of Bahrain. “This country’s infrastructure was built by the foreigners; if prices for services will be increased, then salaries need to be raised in proportion as well. It’ll only be a matter of time where a person will make zero savings, start breaking even, and then eventually burn through all his money trying to survive, never mind make a living.” He also mentioned that he lived as an expatriate in Ireland for a few years where electricity, fuel and rent was high, but he was earning a decent income. Even while paying taxes and higher bills, he was able to live comfortably and collect savings. Revised water and electricity prices will gradually increase by 2019, hitting 29 fils per unit for electricity and 750 fils per unit for water and is expected to save the government BD435.4 million. According to these figures, a current BD9 electricity bill (for the lowest consumption category) will cost BD87 in four years, likewise, a BD1.5 water bill (for the lowest consumption category) will cost BD45 towards the end of the subsidy cut.
Business
300 for the first time ever in its six year history. The Index has remained above 200 since Q1 2014. The value of cross-regional deals targeting the Middle East increased significantly over the last year, and the region experienced record levels in the value of cross-border deals. The Middle East Index for Q4 2015 is 546.5, a massive increase on Q4 2014’s 154.1, and far exceeding the previous record of 344.9 set in Q3 2012.
Inbound Middle East M&A
Record-setting 2015 for cross-border M&A in the Middle East
2
015 has established itself as a record-breaking year for crossborder M&A post-financial crisis, according to a Cross-Border M&A Index* by global law firm Baker & McKenzie. With corporate dealmaking activity at record highs, those companies are also executing record levels of cross-border transactions, a global trend reflected in the Middle East. Overall M&A in 2015 reached US$4.28 trillion, of which 39% were cross-border in nature at US$1.66 trillion on 5,441 deals, up 17% on value over the prior year and enough to set a new postcrisis record. Full year cross-border deals included $1.06 trillion in cross-regional deals, up 7%, and US$595 billion in intraregional deals, up 40%. Deals between the EU and North America account for 76% of all cross-regional activity by value.
4.28
Overall M&A in 2015 reached USD4.28 trillion While the Industrials sector led by volume with 195 cross-border deals globally, the Healthcare and Consumer sectors were in a class of their own by value, with $219.2 billion and $152.8 billion in deals, respectively. The Index, which analyses the number, size and complexity of crossborder deals, stands at 331 for Q4 2015, well ahead of the prior quarter’s 254. The Index also surged past the prior record set in Q2 2014 at 278, as it has crossed
Cross-regional deals targeting the Middle East totaled 80 deals valued at US$9.73 billion in 2015, with the UAE featuring as the target country for three out of the top five M&A deals into the region. The top countries by value driving investment into the region were the US, China and the Netherlands, with acquisitions valued at US$3.21 billion, US$1.75 billion and US$1.57 billion respectively. The US was also the top bidder country by volume with 39 deals, followed by the UK and China with 10 and six deals respectively. The Computer Software sector was the top target industry in the Middle East by both volume and value, with 23 deals exceeding US$2 billion in value.
Outbound Middle East M&A Cross-regional deals fueled by the Middle East totaled 105 deals valued at US$76.35 billion, with the UAE driving two of the top five outbound deals. The US was the top target country by both value and volume, with 21 deals valued at US$44.73 billion. South Africa and Turkey followed the US in terms of deal value, with deals valued at US$11.37 billion and US$3.45 billion respectively, while Spain and Turkey were the top target countries behind the US by deal volume, with 11 deals each. The top sector for outbound M&A by value was the Pharmaceutical sector with four deals valued at US$46.02 billion, while the Computer Software sector led by volume with nine deals valued at US$90 million.
Gulf Insider February 2016
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Business
GCC Can Diversify Without Taxes According to research by Oxford Strategic Consulting, it is possible to diversify government revenues without taxation and generate at least 10% of GDP, regardless of significant falls in domestic energy prices.
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Gulf Insider February 2016
Business
G
iven the volatility and unpredictability of oil prices, the primary economic strategy for all GCC countries is to diversify government income and reduce dependency on oil revenues. However, introducing taxation in the GCC region may prove a hard pill to swallow for both citizens and non-citizens whose economic, political and social lives are based on a tax-free way of life. Oxford’s research demonstrates that there are previously unconsidered solutions to help balance government revenues whilst also maintaining economic and social stability. Every GCC country, and other resource-
dependent economies need to act now before it is too late to adopt these innovative solutions, Oxford suggests. Dr Najat Benchiba-Savenius, Head of Social and Economic Research, has been leading the research initiative in providing innovative and radical solutions to diversify away from the reliance on the oil sector for government revenue. “Governments are worried about the impact of introducing taxation (and reducing subsidies) to populations that have grown used to money flowing down from government; rather than up from citizens as in the US and UK for example. Several countries are trying ‘nudge’ techniques to help influence attitudes to, for example, the idea of
Governments are worried about the impact of introducing taxation (and reducing subsidies) to populations that have grown used to money flowing down from government. people contributing to the wellbeing of all, through taxation,” he comments. “VAT is relatively easy to introduce if it’s a GCC-wide initiative. However, a good way to maximize contributions is to introduce fees for government services rather than blanket taxation. It is also possible to look at extracting more value from, for example, PPP arrangements with the commercial sector.” With regards to privatization, Dr. Najat pointed out that as with any household, it is always better not to sell assets. “Once they are sold they can never generate future revenues. So privatization is generally a short term
solution. In fact, based on utilizing key resources, especially people, it might be better to set up new entities to provide services using the people resources that are available.” In an 18-point plan developed for one particular GCC government, Oxford identified non-tax revenue sources with the potential to generate at least 10% of GDP. These innovative revenue sources include: Maximising government revenues, such as state-owned enterprises (SOEs) and pension funds that are currently untapped and could produce a huge rate of return.
Better utilising and deploying the national workforce in creative ways to not only generate government revenue but also to support other objectives such as increasing entrepreneurs and private sector employment. This is feasible given that GCC governments are, on the whole, the favoured employer for nationals and often have an excess of human resources.
Increasing the willingness and ability of citizens to contribute to the national economy using ‘nudge’ motivational techniques as used by the UK government’s Behavioural Insights Unit.
Creating new revenue generating ventures in areas where effective service impacts the well-being of the population or where it could compete effectively with the private sector. This is more desirable than selling overseas investments and privatising state assets, both of which provide only ‘one-off’ revenue whilst losing long-term income.
Minimising cost in new ventures. As many resource-rich governments are embarking on massive infrastructure projects for national development, there is great potential for increasing revenue and reducing risk.
Oxford Strategic Consulting is an Oxford and GCC based consultancy that specializes in building human capital across the GCC and Europe.
Gulf Insider February 2016
21
Business
2016 set to be tight
for salaries across the Gulf
2
016 is set to be a year of fiscal prudence with regards to employee remuneration in the GCC, with caution being the key word, so says Mercer Middle East. The global human resources agency last month released its 2015 Total Remuneration Survey Results, with the annual report highlighting the drop in oil prices, the struggling financial market and regional political volatility as key factors that will see organisations across
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Gulf Insider February 2016
the region tighten their budgetary belts. Nuno Gomes, Principal - Information Solutions Business Leader at Mercer Middle East, said: “There is no doubt that 2015 has seen one of the biggest shifts in economic momentum in the Middle East in recent years. The rapid decline in oil revenue, which has resulted from oil prices falling from over US$100 to less than US$50 a barrel, is having a significant impact on the growth plans for businesses in the region”.
“This fall in petro-dollar income has led to cuts in government spending observed in the last three to six months, which is compounding the situation. Added to this are underperforming financial markets and regional conflicts, with the overall picture one that is subduing companies’ confidence and curtailing investment”, added Gomes. Mercer Middle East’s 2015 Total Remuneration Survey reveals that salary increase forecasts for 2016 in the UAE
Business
and Qatar are now recorded at 4.9% a figure below 5% for the first time in five years. In Saudi Arabia, the country in the region most affected by the sharp decline in oil prices, increases are expected to hover around 5%, much lower than the traditional 6% seen in the last few years. Caution is also being witnessed with companies’ hiring intentions, which have considerably declined over the past year. In 2014, 71% of organisations interviewed for the survey stated they planned to increase headcount in 2015, but when asked the same question earlier this year, only 57% declared plans to increase personnel during 2015. In Saudi Arabia, the decline was from 79% to 66%. “It is clear that 2016 is likely to be characterised as being a year of restrictions, caution and a focus on improved efficiency from an HR, compensation and benefits perspective. Companies are looking to introduce new and interesting approaches to rewards, and benefit from the macro-economic environment to make necessary or desirable changes”, said Gomes. Mercer Middle East, reports that many organisations are using the current economic climate to make changes that will simplify their compensation structures and policies, with the most common approach being the consolidating of guaranteed allowances. The organisation says that this phenomenon reflects the increasing pull of the region as a career or life choice, with a concomitant higher value placed by expatriates on monthly pay, irrespective of its form. “One clear trend observed in Mercer Middle East’s 2015 Total Remuneration Survey was an increase in the consolidation of allowances, which we recorded as being at 19%, with predominantly housing and transportation being bundled. The prevalence was 13% last year and 9% in 2012. This doubling of the practice in just three years is something we attribute to the modern generation of expatriates seeking similar remuneration structures to those found in their countries of origin,” commented Gomes. Other interesting information to
Salary increase forecasts for 2016 in the UAE and Qatar are now recorded at 4.9% - a figure below 5% for the first time in five years. emerge from the survey concerned pension arrangements and flexible working. With regards to the first, the survey found that 10% of companies in the UAE have a pension scheme in the form of a savings plan, a differentiating factor for organisations seeking positive attraction and retention outcomes. In reference to the second, the poll found
that 51% of organisations say they offer flexible working hours to their employees, a small increase from 49% in 2014 and 46% in 2013. “Pension plans are likely to become more important for employees in the coming years and we anticipate that companies will start to adopt of formal schemes as opposed to the savings plans that we are currently seeing. When we look at flexible working, these are policies that always land well with employees in the UAE, as they cater for the diverse workforce found in the country,” said Gomes.
Mercer Middle East’s (TRS) Total Remuneration Surveys cover all forms of cash and non-cash compensation elements, for over 1,000 benchmark jobs. Across the Middle East and North Africa over 1,600 unique organisations representing almost 250,000 employees were surveyed in 2015. The poll highlights compensation trends from top executives to the administrative level and is conducted in more than 120 countries globally. Gulf Insider February 2016
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Property
Are UK house prices about to crash? UK house prices have defied gravity, but they are an asset like anything else, and there are six clear reasons a nasty correction looms in the coming year. - By John Ficenec
G
lobal asset price crash - Asset
prices around the world soared as central bankers embarked on the greatest money printing experiment in history. While much of that money flowed into stock markets, a great deal also found its way into house prices. What we are now witnessing on trading screens around the world is the unwinding of the era of monetary excess. The end of easy 24
Gulf Insider February 2016
money began when the US stopped its third quantitative easing programme in October 2014. That date marks the point the US balance sheet, or amount of money in the system, stopped rising, having soared from $800m in 2008 to more than $4 trillion. Without an ever-increasing supply of money the world economy is now slowing sharply. The first assets to be impacted by the downturn were commodities. The price of things such as oil are set daily in one
of the largest and most highly traded markets across the world and as a result it is highly sensitive to any changes in demand and supply. Admittedly there are also supply-side factors impacting the oil price, but the weak demand from a slump is still a major factor. The next asset to fall was share prices. There was a delay of about 12 months because even though shares are also traded daily, their value depends on the profits of the company, and the impact of the
Property
fees. The number of transactions is also still about 40pc below that of 2006 and 2007, which allows prices to stray from the fundamentals for a longer period. It is true that Britain is suffering from a housing shortage, which drove UK house prices to a record high of an average of £208,286 in December, but like all asset prices they are on borrowed time. The fundamentals of demand and supply in UK housing will undergo a huge shift in the year ahead.
Death of buy-to-let - A large portion
of the demand for UK housing will fall away as the benefits of buy-to-
The price of things such as oil are set daily in one of the largest and most highly traded markets across the world and as a result it is highly sensitive to any changes in demand and supply.
commodity collapse took about a year to feed through.
Ticking time-bomb - There is a delayed
effect on property prices because the market is so inefficient. Transactions can take up to three months to complete and the property itself may have to languish on the market for even longer. The prices are also dictated by estate agents, who have an interest in inflating them to raise
let have effectively been killed off in recent budgets. George Osborne, the Chancellor of the Exchequer, slapped a huge tax increase on buy-to-let in the summer Budget, which will take effect from 2017 onwards. The removal of mortgage interest relief was the first stage and was followed by hiking stamp duty four months later in the November review. This could prove a double whammy on the housing market, turning potential buyers into sellers, and flooding the market with additional supply. A survey of landlords suggested 200,000 plan to exit the sector. The rapid growth of buy-to-let during the past decade
looks set to be slammed into reverse.
Overseas buyers strike
- The UK property market has been a highly attractive place for wealthy individuals across the world, not least from Gulf states. However, many of the biggest buyers have been forced out of the market. Chinese buyers have been locked out by state controls restricting how much money they can take out of the country. The stock market collapse will also destroy wealth. The Russians have also had their wings clipped as the country’s economy goes into freefall. The petrodollars from the GCC have steadily flowed into UK property for more than a decade, but the Gulf nations investors are now pulling those funds out at a rapid rate to support the economy at home. A fire-sale of assets is taking place to plug the largest recorded budget deficit in history. The shares will go first followed by the homes.
Interest rate shock
- Interest rates have been held at emergency lows in the UK and US for around six years. The US has moved first, with rates rising to around 0.5pc in December. UK rate rises are expected to follow shortly after. The impact on the cost of mortgages will be dramatic. An entire generation of homebuyers don’t know what an interest rate is. In the US following the December rate rise the cost of mortgages has soared by 50pc. The current market expectation is for the interest rate to rise four more time to about 1.5pc by the end of the year, or some 300pc higher than its current level.
Drowning in debt
- UK households are simply drowning in about £40bn of debt according to the latest figures from the Office of Budget Responsibiliity. When budgeting is this finely balanced, it doesn’t take much to tip it over the edge. The UK economy is weighted towards financial services and a collapse in markets could cause a painful correction. Britain’s housing market has defied gravity and logic for far too long.
Gulf Insider February 2016
25
Affairs
Gulf States Prepare
VAT Laws The region is putting the finishing touches on draft laws on value-added taxes (VAT) of up to 5% that could be imposed from 2018 to boost revenues hit by falling oil prices, officials say.
T
he tax, drawn up in coordination with the six-nation Gulf Cooperation Council, can be introduced as soon as two GCC members are ready to implement it, they said. The planned tax on consumer goods and services will be the first such levy in the six oil-producing GCC states that have traditionally been tax-free havens that attracted a large expatriate workforce. But with a sustained slide in oil prices by about 60 percent since June 2014, they see no alternative to tax reform. “Each of the six Gulf states will have their own VAT law that will fall under the broad framework of the Gulf Cooperation Council law,” Younis al-Khouri, undersecretary at the United Arab Emirates finance ministry, told Reuters. “Any two countries that are ready can begin implementation of VAT from 2018,” he said. Khouri and his fellow finance undersecretaries from Saudi Arabia, Oman and Bahrain – who met in Abu
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Gulf Insider February 2016
Dhabi for a GCC financial meeting confirmed to Reuters that VAT laws were in the final stages of preparation in their countries. The draft legislation was now awaiting final approval from the cabinet or parliament in each country, they said.
Introducing 5%VAT across the Gulf could raise up to 2 percent of GDP in revenue Kuwait and Qatar are still drawing up their laws, their officials said. The International Monetary Fund expects the six Gulf States to post average fiscal deficits of around 13 percent in 2016 for an estimated $275
billion shortfall. Introducing VAT across the Gulf could raise up to 2 percent of GDP in revenue, it said. IMF Managing Director Christine Lagarde urged the GCC countries to introduce a regional VAT as soon as possible when she met their finance ministers in Doha last November. The UAE expects up to 12 billion dirhams ($3.26 billion) in revenues from a 5 percent VAT in the first year of its implementation, Khouri said, citing a 2014 ministry study. Gulf states will not charge VAT on some key sectors such as healthcare, education and social services or on 94 food items, he said, adding there was still no agreement on whether to include financial services under VAT. “There will be no exceptions, all consumers have to pay VAT once it comes into effect and initially there will be a uniform rate for all goods,” he said.
Report by Stanley Carvalho, Reuters.
Telecoms
Bahrain
Telecom insider
This Month... • Introducing Batelco TV • VIVA – Unified Communication Cloud Services Powered by Avaya • VIVA – Just Launched - Business Cloud Services for Businesses • GCC Lowers Roaming Rates • Review: iPhone 7 - Why it’s going to be a big success
Batelco Launches “Bahrain’s Best TV Experience”
T
he new service, which features attractive bundled offers with Batelco Home Broadband, will be offered at a rate starting from BD10 per month and includes OSN family channels as part of the package. Batelco Home broadband customers will benefit from free broadband usage while enjoying Batelco TV and additionally they can be assured of continuous high quality TV and video streaming. Batelco’s TV service is designed to enhance entertainment for all internet users in Bahrain, boasting the best content in the Kingdom, such as LIVE broadcast TV channels covering all major Free to Air channels and Pay TV, On-Demand services that includes Subscription Video on, new movies on Pay-Per-View basis, CatchUp TV. Recording features, games and applications are key features of Batelco’s TV service.
Gulf Insider February 2016
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in si de r Tele co m
Advertorial
Eng. Ulaiyan Al Wetaid, VIVA CEO and Nidal Abou Ltaif, Avaya President, Asia Pacific, Middle East, Africa and EU.
Ease of Business Unified Communication Cloud Services Powered by Avaya
V
IVA has collaborated with Avaya, a global leader in business communications software, systems and services, to offer Unified Communications-as-a-Service (UCaaS) for businesses across the island.
VIVA Bahrain will host Avaya’s innovative Unified Communications, Video and Contact Center solutions and make them available to enterprises in a cloud services model, enabling organizations to purchase the capacity
and services they require, as and when needed, without large upfront costs. VIVA Bahrain will be offering Unified Communications-as-a-Service (UCaaS), Video as a service (VaaS) and Call Center as a service (CCaaS). Through VIVA’s UCaaS offerings, businesses in Bahrain will benefit from greater flexibility, enabling them to respond quickly to changing business demands, improve customer experience, and manage costs more effectively. This allows organizations the flexibility to scale their unified communication services deployment, add new features and functionality and benefit from efficient customer service experience. “Businesses in Bahrain are looking towards adopting ICT in their daily operations to boost their productivity, growth and drive transformation. At VIVA, we recognize how this is an important enabler of innovation that embraces new technology to help new products, services and processes,” Eng. Ulaiyan Al Wetaid, VIVA CEO said. This collaboration between Avaya and VIVA Bahrain will help businesses in the Kingdom deliver services to their customers faster at significantly reduced total cost of ownership (TCO) and with a better return on investment (ROI).
Just Launched - Business Cloud Services for Businesses
A
long its participation as the official telecom partner of the Bahrain International Technology Exhibition (BITEX) 2016, VIVA has announced the launch of Cloud Services for its Business customers. Businesses are offered a wide-range of Cloud Services, helping them set up their, comprehensive web presence including cloud based business email, website development, e-fax, backup, storage and a domain name registration in the most professional, efficient and affordable way. Along with a professional website and a customized online domain name, VIVA Cloud Services offers business
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Gulf Insider February 2016
customers hosted emails with contacts and calendar synchronization to help establish online presence quickly and inexpensively. VIVA Cloud Services also include an online backup and storage system providing flexible, efficient and offsite security for business information without worrying about critical data loss. Business customers can also benefit from VIVA’s e-fax service that enables users to send and receive fax documents from any location without a fax machine. Moreover, VIVA Cloud Services includes a state-of-the-art Data Centre which enables customers to host their web servers and applications while taking advantage of
the maximum security environment offered. “One of the biggest burdens for businesses is the initial cost to get their communications’ platform established. VIVA Cloud Services assists them in reducing costs, whilst providing improved flexibility since our solution simply grows with their business. VIVA Cloud Services offers businesses an extensive environment that gives enough leverage by giving them access to the most cost-effective and efficient IT infrastructure,” Saad Odeh, VIVA Chief Wholesale and Enterprise, commented.
Telecoms
GCC Lowers Roaming Rates Roaming users in Bahrain will benefit from lower GCC roaming prices for voice, SMS and mobile data, effective 1 April 2016, Bahrain’s Telecommunications Regulatory Authority has announced.
“T
he GCC Roaming Working Group in collaboration with the GCC telecommunications ministries and regulators, conducted a lengthy study and consultation with the operators in all the GCC countries during the past two years, based on which it was agreed to reduce GCC roaming prices,” General Director of TRA Mr. Mohamed Bin Hamad Bubashait has stated. The new roaming prices applied in two phases, saw new wholesale prices applied to the operators effective 1st January and retail prices (the actual application on consumers’ bills) to begin on 1st April 2016. “The application of lower wholesale and retail prices will be gradual over a period of three years for voice and SMS, and five years for mobile data,” he added The prices shown here are the maximum price caps - operators have the freedom to compete among themselves and set lower prices than these regulated caps with providing different and competitive offers to roaming users. Gulf Insider spoke to VIVA Bahrain’s Chief Wholesale & Enterprise Officer, Saad Odeh who explained that operators in Bahrain and the GCC already have special roaming packages, particularly
Saad Odeh, VIVA Bahrain, Chief Wholesale & Enterprise Officer
aimed at those customers who extensively use roaming mobile and data services abroad. VIVA in particular has a 50% customer base using roaming services. The new regulation will reduce rates for roaming, telephone calls, text messaging and data services throughout the GCC countries, offering the opportunity to increase traffic between GCC operators with customers being encouraged to boost their usage of roaming services when traveling. This positive impact will be extended to the overall contribution of the telecommunications industry to the economy of each country. “The performance of roaming services doesn’t impact directly other consumer services. Rather than compensating
from other services, operators will innovate by introducing new services/ products to diversify their revenue streams. The reductions in roaming charges on both the inter-operator wholesale level and end-user retail level will take place gradually and overall it promotes market competition and brings additional benefits to consumers, whilst encouraging operators to continue investing in advanced, innovative and reliable telecommunications services.”
Other telecom operators in Bahrain couldn’t be reached for comments.
The Table below displays the upcoming retail price caps for voice and SMS mobile data. Adopted caps for the following roaming services
Adopted caps effective 1 April 2016
Local outgoing calls while roaming in GCC (minute)
0.098
International outgoing calls to any GCC country while roaming in GCC (minute)
0.241
Received calls while roaming in GCC (minute)
0.132
SMSs (per SMS)
0.030
Data services (per Mbit)
0.489 Gulf Insider February 2016
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in si de r Te le co m
iPhone 7 Why the iPhone 7 is going to be a big success. iPhone 7 concept
A
pple stock has declined 25% since May 2015 as analysts — almost unanimously — predict that iPhone sales have gone into decline. The theory that iPhone 7 will not be a big deal rests partly on the idea that the expected improvements in the iPhone won’t be that spectacular. iPhone 6 was such a success that relatively few people felt the need to upgrade into iPhone 6S, especially as the older model was on sale for less money. The fear is that iPhone 7 will feature similarly marginal improvements, and fail to move the needle. But don’t underestimate Apple. It looks as if the company is going to deploy three distinctive physical changes to the way the iPhone looks: A non-metal “compound” body. Cord-free wireless earbuds. The removal of the home button in favor of Force Touch on the lock-screen. None of these changes are going to let you do something “new.” They’re all merely cosmetic. But those changes would make any iPhone 7 instantly announce its presence, and call out any older iPhone as yesterday’s phone. For example, when the iPod launched, 30
Gulf Insider February 2016
it had white earbuds and wires. That was unusual. Until then, headphone wires were mostly black. The white wires and buds signalled to everyone, “Hey, I have an iPod.” Getting your own white wires was like joining a visual club. Not having
The wireless headphones and the buttonless screen face are going to create a lot of curiosity, if Apple launches them on iPhone 7. white wires announced, “I don’t have an iPod. I have a sad, off-brand music player.” You can imagine how teens reacted to this. The white Apple headphones were
signalling who’s in and who’s out. Likewise, when Apple launched a gold iPhone 5S and then a super-sized iPhone 6 Plus, the new colours and sizes loudly broadcast to everyone else, “I have the new phone.” The more people who bought the new models, the more subtle peer pressure is applied to older iPhone users (and to Android users) to upgrade to the new-new. The wireless headphones and the buttonless screen face are going to create a lot of curiosity, if Apple launches them on iPhone 7. When people sit for meal or a drink, they put their phones on the table in front of them. If you have the new button-free phone, people will want you to show them how it works. If it has a mysterious non-metal casing, people will want to know how it feels. If you’re listening to music without wires, people will want to know how it sounds. Apple will make iPhone 7 look as different from iPhone 6 as iPhone 6 did from iPhone 5. The signal will be unmistakeble. And this is why analysts who think iPhone 7 sales will be lower than either iPhone 6 or 6S will turn out to be wrong.
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GULF ROUNDUP news around the GCC and beyond
life in the gulf
Muscat Festival 2016 Muscat Festival 2016 began at Al Amerat Park, Naseem Public Park, Kalbuh Beach in Muttrah, and Oman Automobile Association Ground in January. The festival, which will conclude on February 13, offers plenty of cultural, educational, and sporting events. Some of the interesting exhibitions and shows that you should not miss during the month-long event include: the Omani Wildlife Show, 1001 Inventions, various Sports Events, and lectures on topics such as the Impact of oil price decline on national economy. – Times of Oman
Saudi consumer spending growth ‘slowing’ Growth in Saudi Arabia’s consumer spending is slowing as low oil prices hit households’ disposable income and geopolitical tensions make shoppers more cautious, the chairman of one of the kingdom’s top retailing chains said. The slide in the oil price from over $100 a barrel in mid2014 to just over $30 has forced Saudi Arabia, the world’s biggest crude exporter, into budget cuts that have eaten into the income of many Saudis working in the public sector, crimping their spending power. Muhammad Al-Agil, chairman of Jarir Marketing Co, said he did not expect the slowdown to be as serious as an oil price crash that hit Saudi Arabia in the mid-1980s, halting his company’s expansion for a year. Jarir would continue to grow by taking market share from competitors and opening more stores, he told Reuters in an interview. But Al-Agil said Jarir, which sells books, office supplies and consumer electronics from 33 stores across Saudi Arabia, as well as six in other Gulf countries, was feeling a slowdown that had begun in earnest during the past six weeks. – Trade Arabia
Bahrain to levy heavy fines for illegal dumping New municipal fines will be imposed for violations after repeat offenders were let off the hook for years, said Bahrain’s National Cleanliness Committee chairman Yousif Al Ghatam. Under the current system, offences like illegal dumping, inappropriate disposal of construction waste and improper fencing are penalised with stoppage or minimal fines. – Trade Arabia
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Gulf Insider February 2016
News
Sheikh Mohammed most “liked” GCC leader on Facebook Dubai’s ruler HH Sheikh Mohammed bin Rashid Al Maktoum is the Gulf Cooperation Council’s most popular figure on Facebook, ahead of his social media savvy son Crown Prince Hamdan. Sheikh Mohammed, also the United Arab Emirates’ Vice President and Prime Minister, has amassed more than three million followers on the platform and more than 11.4 million followers across networks such as Twitter, Instagram and LinkedIn. Meanwhile Prince Hamdan, whose pictures of himself either jumping out of planes or cuddling a white lion cub have landed him 3.1 million followers on Instagram, has 66,000 likes on Facebook. The Crown Prince, who goes by the name of Faz3 on Instagram, has double the number of followers on the platform compared to his father, but is eclipsed by him on Twitter, having 1.5 million followers, compared to Sheikh Mohammed’s 5.46 million. Across the Middle East and North Africa region, Egyptian President Abdel Fattah el-Sisi has the most number of Facebook likes with six million, followed by Her Royal Highness Queen Rania of Jordan, who boasts 5.5 million. – Gulf Business
Dubai Parks on the hunt for 400 performers Dubai Parks and Resorts, set to be the region’s largest integrated theme park destination upon opening in this year in October, plans to recruit more than 400 performers to be part of its inaugural entertainment cast. Auditions will be held throughout January and February and artists across Mena are being invited as part of the destination’s vision to secure some of the best talent in the Middle East for the many planned shows and performances. Dubai Parks and Resorts is planning a range of different offerings. With everything from stage shows to street performances and character meet-and-greets, the destination is subsequently looking for a variety of talents from singers, dancers and actors through to puppeteers and trampolinists. – Gulf Daily News
Dubai achieves lowest water loss rate Dubai has achieved its lowest ever water-loss rate of 8.26 per cent, thanks to the excellence, availabi li t y, e f fi c i e n c y , reliability, and great customer service provided by Dubai Electricity and Water Authority (Dewa), which is working to power the social and Saeed Mohammed Al Tayer, MD & CEO economic growth of the Emirate. Dewa’s strategy has plans to improve its future operations that include efforts to increase the efficiency and reliability of water networks to meet Dubai’s increasing demand. Saeed Mohammed Al Tayer, MD & CEO of Dewa, said: “Dewa makes use of the latest modern innovative methods for its production, transmission, distribution and control systems for water networks. Dewa has achieved milestones globally, surpassing major European and American companies by cutting water network losses from 9.1 per cent in 2014 to 8.26 per cent in 2015, compared to 15 per cent in North America. – Emirates 24/7 Gulf Insider February 2016
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News
Kuwait pulls out ‘inappropriate’ books from schools The Ministry of Education in Kuwait has pulled out eight books from its schools, saying they contained “inappropriate” ideas and illustrations. They did not mention further details. The ministry made the move after it received complaints from several parents who cited concerns about the influence of such books on their children. One book, ‘Memories Are Chasing Me’ had already been pulled out and the other seven to be taken off the shelves are biographies of Picasso, Shakespeare and Cleopatra, Hayfa Confesses, Midnight Crimes, My Conversation with My Son, and My Conversation with My Daughter. Last month, Saudi education authorities called for pulling out around 80 books from the shelves of libraries and learning resources centres in schools that promoted Muslim Brotherhood ideology. – Gulf News
Glowing garden hopes to have 1 million visitors The Dh60 entry fee was not a deterrent in attracting over 150,000 visitors to Dubai’s latest tourist destination, Dubai Garden Glow, in its first month. The Dubai Municipality announced that the glowing garden in Zabeel Park, which opened its doors to the public on December 23, has received an overwhelming response and is hopeful of closing the season with a 1 million visitor count. In a statement, Mohammed Abdul Rahman Al Awadi, director of Public Parks and Horticulture Department, said the garden was the first successful joint venture between a private company and the municipality. Going by the figures, the facility raked in an income of Dh9m in just one month. With phenomenal structures made with luminous recycled silk fabric and four million energy saving LED lights, this glow-by-night destination has topped the charts as a favorite family destination with a unique experience with a difference, the municipality claimed. The picturesque location is dubbed “a photographer’s delight” and is said to enter the list of the most photographed destination in the region. – Khaleej Times
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Gulf Insider February 2016
Declining gold prices boosts jewelry sales in Saudi Low gold prices have boosted sales in Saudi markets despite recent global fluctuations in its value. Riyadh and Makkah registered the highest levels of sales in this regard, followed by the Eastern Province and Madinah. The price of the yellow metal has registered continuous decline in world markets throughout recent weeks. While the value of gold may have increased by one percent during the Christmas week, much of these gains were countered by the lack of cash for gold available within the market in the post-Christmas period. As such, the value of gold is now declining for the sixth consecutive week, making this the biggest period of decline since the 1970s. The price drops in gold increased buying among the Gulf countries, especially in the UAE and Saudi Arabia. Saudi jewelers commented that during the first ten days of this year, there were more buyers of gold than was initially expected, thus exceeding expectations. Jeweler Ali Zakaria said that such price drops encourage buying despite the fact that no one knows what price the gold is going to reach at its lowest point. This may mean that their gold will be worth a considerable amount of money, leading many to buy gold in the hope that the price will increase again, enabling them to make money through reselling. – Arab News
Life
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o. N e l i f o r P Insider
Aaref Hejres Managing Director, Diyar Al Muharraq
D
escribe your role in brief. As a managing director, I’m responsible for the whole strategy behind Diyar; how it moves in terms of direction and vision and to make sure that the master plan is being implemented upon correctly, as it was designed initially. I have to promote the development using unique tactics, seeing that we’re in line with our original vision. Being a Board Member, I also participate in decisionmaking. When did you start your career? What do you like most about property development? I began my career in December, 2006. I like the challenges of being a leader for the biggest real estate project in Bahrain, a first of its kind master plan where we’ve designed and woven highstandards of living, work and enjoyment for the people of the Kingdom. Where do you see Diyar Al Muharraq five years from now? What is the industry response so far? I see Diyar as the most popular and preferred place by the Bahraini and expatriates to seek residence, work and leisure activities within. The industry response has been very positive so far, we’re attracting some of Bahrain’s biggest developers and companies as well as international firms. Being associated with big names gives investors more confidence in the project. What has been the biggest challenge in your current position? Keeping track of the project’s scope of works certainly takes a toll on you.
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Gulf Insider February 2016
What has been your most prized achievement? The moment of satisfaction that came after we took serious technical issues such as reclamation and zoning head on during the master-planning stage and then finally strategized and created the master plan you see today. How do you alleviate the stress that comes with your job? I enjoy taking boat rides and short vacations that help me refresh and clear my thoughts. What is your key to success? List three characteristics every manager should possess. Most people advise not to seek perfection, but I believe being a perfectionist has been my key to success in addition to practicing effective discipline and being supported by the excellent team I work with. In my opinion, every manager should display characteristics of Discipline, Teamwork and Taking on challenges with determination to succeed in any endeavour.
Life
Gulf Insider meets with Frank Normann Eikeland, The Domain Hotel & Spa’s new General Manager.
STAY – WORK – PLAY!
F
rank Eikeland describes himself as a typical Norwegian, and he certainly looks it. He’s worked in hospitality all his life and says he absolutely loves his trade. The newly arrived GM had been in Bahrain just five days at the time of our meeting. That said, Frank has years of experience for his role including working in Saudi Arabia, UAE and Egypt. We are seated during our meeting in the “Domain Privé” on the 36th floor. It’s a light and comfortable place to conduct an interview and offers an impressive birds-eye view across Bahrain. There’s also a rooftop Infinity Pool looking over the Manama skyline. Frank Eikeland considers himself a focused and determined individual and he informs me that he has two major professional goals for 2016. The first is to increase The Domain’s market
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The Domain is a unique property with all the right characteristics to make it Bahrain’s number one lifestyle hotel for a sophisticated clientele in the five star category. share by at least 5% this year. He tells us that he won’t yet reveal how he plans to do this but that he believes
the Domain is a unique property with all the right characteristics to make it Bahrain’s number one lifestyle hotel for a sophisticated clientele in the five star category. “The hotel possesses an impressive style, neat outlets – wherein customers can choose from seven top end restaurants and bars, and a specialized culinary team with chefs who are exceptionally serious about their business,” he says, “They are incredibly imaginative and experimental.” “My second goal is to fully immerse in the property and to ensure the Domain’s consistency of quality deliverance,” Frank continues quickly adding that he says this without making any criticism to the previous management which he believes has been superb in what has been achieved, only that he is still very new and will need time to learn and
Life Restaurants in the domain implement his own standards. He reveals that his biggest surprise so far is that many people don’t know about the hotel yet – even though it opened two years ago. I ask how he plans to establish his property in Bahrain’s five star market especially with many more hotels on the way, and he smiles as he replies it’s definitely one of his challenges. That said, Frank is certain The Domain has things to offer which other competitors don’t; for example, it’s now highly popular and heavily attended adult-only weekend brunches. Families with kids can go to any of the other hotels, The Domain’s affair is strictly for the grown-ups. The quality and freshness of the food, and the sophisticated yet fun ambiance, is prized for what it is and generally recognized for offering great quality and value. So that’s a good start! I inquired whether the hotel’s location in the Diplomatic Area is perceived as being a problem since that’s perhaps the only negative
comment that I personally have heard about this property, mainly to do with reference to lack of parking during the daytime. Frank replied that he found such a criticism strange since the hotel has up to nine stories of valet parking available, while adding that other than weekday mornings there is an abundance of street parking anyway. Frank compares this by recollecting that the Oslo Plaza Hotel, a property that he was earlier involved with, was the first Five Star property to be built from new in 1990, and at the time many people questioned its chosen location, or why, in their belief, was it being built “at the wrong end of town”. However, today the Oslo Plaza is recognized as one of the best and most popular hotels in the city of Oslo and no one even questions its location. Frank is sure that location will not hinder The Domain from reaching its target. “I want to make sure others know the Domain is here and we will be taking our slice of the market share,” Frank tells me firmly.
TXOKO 4pm to 2am. Daily
Imari 6pm to 1am, until 2am on Thursday & Friday (Sunday closed)
Le Sauvage 6pm to midnight. Closed on Monday. Friday Brunch for Grown Ups from 12pm to 4pm.
Le Domain [34] 6pm to midnight. Closed on Monday. Friday Brunch for Grown Ups from 12pm to 4pm.
Figs & Olives 6:30am to 10pm. Daily.
The Cigar Lounge 6:00 pm till midnight. Daily
Domain Privé 10:00am till 10:00pm. Daily
For reservations: Call: (+973) 1600 0000 or Email: restaurant_reservation@thedomainhotels.com Gulf Insider February 2016
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Life
BIAS 2016 Sets New Record
Organizers of the Bahrain International Airshow (BIAS 2016) confirmed that it had experienced its most successful event to date, according to Bahrain News Agency.
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unning from January 21-23, the Airshow saw the total value of orders reach $9 billion by end of Day 3, more than triple the 2014 figure. This includes aircraft orders for national carrier Gulf Air and a number of contracts to support Bahrain’s Airport Modernization programme. In addition to record deals, organizers confirm that participation was also at its highest with 135 participating companies and 30,000 visitors. The next show has been confirmed for November 14-16 2018, a change from its usual January slot on the aerospace events calendar. The move is a result of continued success and growth for the Airshow, with 2016 seeing the biggest show to date with participation up by 60% since the first show in 2010, the Exhibition Feature Pavilion growing nearly 50% since 2014 and more international presence than ever. To accommodate this growth and expand the event further, dates of the show have been moved to an alternate year to Dubai, similar to the Paris and Farnborough International Airshows format.
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Life
Gulf Insider February 2016
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Life
Walid Juffali with his ex-wife Christina Estrada
Saudi Divorce Saudi billionaire facing divorce says he already provides ex-wife with $100,000 a month.
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Saudi billionaire facing a multi-million pound divorce proceedings has argued that at £70k ($110,000) a month he is already providing for his supermodel ex-wife. International businessman Sheikh Walid Juffali, who has an estimated fortune of $6 billion, was married to Christina Estrada for 13 years Sheikh Walid Juffali, who has an estimated fortune of $6 billion, divorced former Pirelli calendar girl Christina Estrada in Saudi Arabia but is now facing a suit in London’s Crown Court. Dr Juffali, 60, claims he has made “generous” provision for his ex-wife, giving her a property in Beverly Hills, California, paying her 100,000 US dollars per month and meeting all the expenses of their 13-year-old daughter. However Ms Estrada, 53, says Dr Juffali, 60, obtained their divorce without her knowledge and is demanding a financial settlement for their 13-year marriage. Dr Juffali was appointed as the permanent representative for St Lucia 42
Gulf Insider February 2016
to the London headquarters of the International Maritime Organisation (IMO) in April 2014. The post grants Dr Juffali diplomatic immunity - exempting him from the UK laws - and may effectively grant him protection from having to settle Ms Estrada’s demands.
Christina Estrada in 2001
Dr Juffali says he already pays Ms Estrada and intends to make further provision for her “at the appropriate time”. He is asking the judge to strike out his ex-wife’s claim on the basis that he is protected from legal action in the UK by diplomatic immunity.
Life
in the world – eclipsing the current record holder by 800 kms. Travelmath’s flight time calculator suggests the flight would be approximately 18 hours and 34 minutes. Currently, the world’s longest flight is from Sydney to Dallas, operated by Qantas.
Qatar Airways to launch the longest flights in the world
Q
atar Airways is reportedly planning to launch two ultralong-haul routes that will allow it to lay claim to the longest and second-longest flights in the world.
The Gulf carrier has revealed that it will operate non-stop journeys from its base in Doha, to Auckland, New Zealand, and Santiago, Chile. The flight between Doha and Auckland would become the longest
Qatar Airways’ route between Doha and Santiago would have a distance of 8,950 miles, putting it in second place overall. According to Travelmath, the flight time would be approximately 18 hours and 25 minutes. The airline plans to use Boeing 777200LR aircraft on the routes, Bloomberg Business reported after interviewing CEO Akbar Al Baker at the Bahrain International Airshow. He said the airline also plans to add more flights to Iran, which has been touted as an emerging destination for foreign tourists after sanctions were lifted.
Man caught trying to smuggle alcohol into Saudi Arabia This smuggler was caught trying to sneak 14 bottles of liquor in his underwear into Saudi Arabia, according to official Saudi Press Agency (SPA).
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he Saudi man was stopped at customs on his way back from Bahrain on the King Fahd Causeway, according to head of customs Fahad Dhufallah al-Otaibi. After a search, inspectors detected the bottles of booze which were attached with adhesive tapes to the man’s upper and lower legs and hidden by the man’s thobe. A similar technique was adopted by another Saudi man last September, who stashed the booze in special pockets stitched into his trousers, which he then covered with his thobe. Customs officials became suspicious of the man after noticing he was
walking oddly as he re-entered Saudi Arabia from Bahrain. Alcohol is illegal in Saudi Arabia and as a result there are tough penalties such as public flogging or long detention for anyone caught trying to break the law.
Gulf Insider February 2016
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Se lf -im in pr si ov de e r me nt We are always on the look-out for great ways to make ourselves and our lives better, so every month we publish for you the best personal development tactics and techniques we can find.
Forget Setting Goals. Focus on This Instead
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e all have things that we want to achieve in our lives -- getting into the better shape, building a successful business, raising a wonderful family, and so on. For most of us, the path to those things starts by setting a specific and actionable goal. However, when it comes to actually getting things done and making progress in the areas that are important to you, there is a much better way to do things. It all comes down to the difference between goals and systems. For example: If you’re a writer, your goal is to write a book. Your system is the writing schedule that you follow each week. If you’re an entrepreneur, your goal is to build a million dollar business. Your system is your sales and marketing process. Now for the really interesting question: If you completely ignored your goals and focused only on your system, would you still get results?
Goals reduce your happiness. When you’re 44
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current working
toward a goal, you are essentially saying, “I’m not good enough yet, but I will be when I reach my goal.” The problem with this mindset is that you’re teaching yourself to always put happiness and success off until the next milestone is achieved. “Once I reach my goal, then I’ll be happy.”
SOLUTION: Commit to a process, not a goal. Choosing a goal puts unnecessary stress on ourselves to lose weight or to succeed in business. Instead, you can keep things simple and reduce stress by focusing on the daily process, rather than worrying about the big, life-changing goals. Focus on the practice instead of the performance and you can enjoy the present moment and improve at the same time. Goals are about the short-term result. Systems are about the long-term process. In the end, process always wins. Goals suggest that you can control things that you have no control over. You can’t predict the future. But every time we set a goal, we try to.
Fall In Love With Systems. None of this is to say that goals are useless. Goals are good for planning your progress and systems are good for actually making progress. Goals can provide direction and even push you forward in the short-term,
but eventually a well-designed system will always win. Committing to the process is what makes the difference.
5 Bad Habits That Are Sabotaging Your Productivity Increasing your output at work and in life is easier if you’re not sabotaging yourself with bad habits. Here are 9 things to stop doing: 1. Web browsing: It’s easy to get
side-tracked looking up the answer to a random question that just popped into your head. Write down these thoughts or questions on a notepad. This way, you can look up the information you want later, when you’re not trying to get work done.
2. Putting off the important work:
People often start off their day by completing easy tasks and leave more difficult work for later. This is a bad idea,
Life
and often leads to the important work not getting done at all. Researchers have found that people have a limited amount of willpower that decreases throughout the day, so it’s best to get your hardest, most important tasks done at the beginning of the day.
3. Meetings: With tools like email, instant messenger, and video chat, it’s best to only use meetings for introductions and serious discussions that can only be held in person. Avoid meetings unless the person who requested it has put forth a clear agenda and stated exactly how much time they will need. 4. Multi-tasking: While many people believe they are great at doing two things at once, scientific research has found that just 2% of the population is capable of effectively multi-tasking. For the rest of us, multi-tasking is a bad habit that decreases our attention spans and makes us less productive. 5. Failing to prioritize: Warren Buffett
has the perfect antidote. Seeing that his personal pilot was not accomplishing his life goals, Buffett asked him to make a list of 25 things he wanted to get done before he died. Buffett then advised the pilot to pick five things he thought were most important and ignore the rest.
3. You aren’t as interesting to others as you are to yourself - Great leaders keep their stories short. Instead focus on the other person, they will inevitably share more about themselves with you, and when this happens, a bond is formed.
11 Tough Truths About Leadership
4. Everyone is afraid - Great leaders know everyone they interact with is afraid - of failing, of screwing up, of looking stupid. But their own fear doesn’t hold them back. Instead, it springs them into action, because they know not trying at all is worse than failing.
Deirdre Maloney, in her new book “Tough Truths” , says great leaders strategize carefully, then act aggressively.” Maloney shares 11 tough leadership lessons.
5. Someone is always watching - If you have a bad morning before you meet with clients, never let it show on your face.
1. It’s all about politics –Great leaders
understand the importance of persuasion and that, in addition to a great work ethic, you also have to have the ability to have effective and influential relationships.
2. Success makes you unpopular - To be a great leader you need a strong will and an even stronger stomach. You need to remind yourself that your job isn’t to make everyone happy, but to improve the organization.
don’t take things personally. They learn how to let things go.
8. Avoid trash talking - Even if you take a passive role and simply laugh while others are talking, you are still guilty of participating. As tempting as it is, don’t trash talk about anyone or anything or any place you are connected to, unless it is with your absolutely small core circle of trusted people. 9. Go beyond your responsibilities -
Great leaders come up with new options for jobs, projects, and professional development that their bosses hadn’t even thought of.
10. Network - Great leaders know that
6. Protect your energy - Great leaders understand what gives them energy and try to increase these activities. They also know what soaks their energy up and minimize those interactions.
every interaction is an opportunity to connect with people in a way to get to a level deeper. To be memorable in some way. To get something — if not today, then perhaps tomorrow. Practice making each conversation — written or in-person — excellent.
7. Take credit without taking credit
11. Have a life outside the job - When
– Successful leaders give credit to their staff. They don’t take compliments too seriously, and they take the responsibility when things don’t go well. Also, they
you have a life, you realize that you are not the center of all things important. That the lives of others don’t revolve around you. Gulf Insider February 2016
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Motors
CAR insider
2016 Mercedes-Benz A-Class
New car launces in Bahrain
Launch of Ford Trucks by Almoayyed Motors 2016 Lexus GS F
2016 Kia Optima
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Paradise, just a few hours away... Dutch Bay Resorts, Sri Lanka
Set within an oasis of mangrove forests, and water reservoirs you will find Dutch Bay Resorts, a tranquil sanctuary of 16 Signature Hideaway Mangrove Chalets of 5 star boutique standards. Come escape from the world and pamper yourself with ageless Holistic Spa Treatments. Rejuvenate your mind, body, and spirit by selecting from a variety of spa packages and treatments to help restore your natural balance. Dutch Bay Resorts Exclusive VIP Club - Designed for high net worth individuals who care for nature, we provide specifically designed facilities to allow our members to enrich their lifestyle and well-being.
in si de r CA R
2016 Jaguar XF S The flagship, and most powerful model, of the XF range - Gulf Insider Review
T
his is a good looking car. It has a sleek body and sexy LED headlamps, and the black low profile sports alloys on the car I drove made it look even better. Parked amongst rival car brands of a similar price range it certainly stands out. And its looks are matched by its performance. On driving out of the EuroMotors forecourt I put my foot down hard to avoid the lorries hurtling towards me on the Sitra highway and
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Jaguar cars are renowned for offering both comfort and sports handling and are able to set a standard that eludes many of its rivals.
felt the impressive power of this car. The acceleration was startling. The XF S has a 3.0 liter V6 engine that offers an impressive 375 horsepower. I decided to drive down to Al Bander Club and discovered that safely overtaking traffic on the narrow back road leading there while comfortably avoiding oncoming traffic was a breeze. In fact it was fun. It’s slightly shorter than the previous XF, but it has a longer wheelbase (the
Motors
area between the front and rear wheels), so there’s more room in the cabin, and it’s noticeably more spacious than the previous model. There is an abundance of space in this car, both for long legged passengers (at least in the front, less in the back) as well as for luggage and other storage space. The XF S as an ultimate Gran Tourismo - it can easily carry 4 adults and their luggage great distances at high speed in supreme comfort. Okay, so this is Bahrain and we don’t travel great distances unless commuting to Saudi, but this is still a great car to own here. It also has even more technology packed into it, such as a head-up display that projects information onto the windscreen in front of you, adaptive cruise control, an automatic emergency braking system, parking assistance and an updated infotainment system. All the controls felt just right, the cabin is comfy and classy, and the steering was tight and perfect. The styling is similar to that of the smaller Jaguar XE (which competes with the BMW 3 Series). The upholstery for the model I drove was a sporty looking red and black, far from the traditional walnut and leather image of Jaguars of old (which I personally like).
Jaguar cars are renowned for offering both comfort and sports handling and are able to set a standard that eludes many of its rivals. Immediately after spending time with this Jag I was driving a top marque German brand that fell into a higher price bracket and the Jag was noticeably more comfortable and felt nicer to drive. The XF has been a great success for Jaguar, taking many buyers away from its German rivals such as the BMW
(5 Series), Audi (A6) and Mercedes (E-Class) – all great cars in their own right, but it seems that for many people, the XF is more desirable, and the XF has just gained first place in the prestigious North American J D Power awards, proving that it’s at least the match of its German rivals.
To arrange a test drive contact Euro Motors Tel: +973 1746 0460.
Jaguar XF S BD38,000
Jaguar XF BD18,995
Price Comparison Audi A6 From BD 16,500
Mercedes E Class From BD 18,100
BMW 5 Series From BD 19,600
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in si de r CAR
2016 Porsche 911 Carrera S … with each new model it just gets better - Gulf Insider Review
I
didn’t have this car for very long, just enough time to put it through its paces on Bahrain’s highways, and from the moment I switched on the engine and wrapped myself in its bright red seat belts I found it engaging… thrilling actually. The engine was happy to rev at
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The Porsche 911 remains the benchmark sports car in this price range.
7500rpm. Switching to Sport and then Sport Plus brings two stages of stiffer dampers and increased throttle response for an even more engaging drive. The steering is heavy but perfect for what it is, and you probably won’t be surprised to hear that this car corners superbly. The driver is treated
Motors
to one of the very best sports car driving positions and the seats hug and support both driver and front passenger with perfection. Inside there’s plenty of head and leg room for tall adults in the front, and enough storage in the glovebox, door pockets and under the central armrest for things like smartphones and wallets (not a lot else). Rear seats offer enough space for small children (with short legs), or better for storing bags that won’t fit in the nosemounted boot. The quality of materials used inside the cabin is top rate. There’s stitched leather dashboard sections, metallic highlights, nicely damped switchgear, and the infotainment system is much better than on the previous model. The 911, while not exactly able to be classed as being a luxury limo, can
Starting Price: BD 42,200
still be enjoyed as an everyday car. There aren’t many direct rivals to the 911 for the price, and many exotic rivals with often considerably higher price tags that may gain more attention from crowds due to their rarity and/or shape, are typically unable to match the 911 for its overall practicality and handling. Therefore, the Porsche 911 remains the benchmark sports car in this price range.
To book a test drive contact Porsche Centre Bahrain, Tel: +973 1745 991 1
Price Comparison Aston Martin V8 Vantage From BD 50,500 Jaguar F-Type Coupe From BD 29,900
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Travel
New Visa Procedures for
“Some” UAE Visitors Some GCC residents have been affected by new regulations and are advised to check ahead of time whether they’re eligible for a visa on arrival or have to apply for it online.
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he UAE introduced an online visa application system in October last year, wherein anyone wishing to visit the emirates had to apply for a visitor’s visa and pay for it ahead of time. However, this new regulation isn’t applicable to all visitors. GCC nationals, passport holders of Commonwealth countries and GCC expat residents in high rank occupations are exempt from the new regulations. This means that some expatriate residents of GCC countries who had the freedom to take business or leisure trips to the UAE on a whim until a few months back, are now being advised not to take the risk. There is no guarantee they will receive a visa on arrival. Speaking to a local wholesale travel agency, Gulf Insider was informed that the company was notified through email regarding new visa procedures. “There was a bit of confusion at the initial stage. First we were told that travelers apply online for their visas, then we were told not to – but as it stands now, UAE visas need to be pre-applied for and
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they typically take three to four days to process,” a manager from the agency tells us, citing that the rule exempts certain nationalities and professionals such as doctors and engineers. The manager, who is an Indian national and wishes to remain anonymous, shared his own experience of how this change affects him and others like him. “Our trips to Dubai have reduced since
A UAE visa costs BD30 to 40, depending on service charges if you apply through an agent. A Schengen visa costs less than that at BD25.
Travel
November, be it for business or leisure. Earlier on, if we had a meeting there on the same or following day, we would just get up and go. It’s difficult and many people are unhappy about it.” The agency’s representatives tell us that the visa process is easy, requiring applicants to upload their photo and passport copy and pay online. The visa is approved within three to four business days. “A UAE visa costs BD30 to 40, depending on service charges if you apply through an agent. A Schengen visa costs less than that at BD25,” he informs, “Going to UAE is expensive for families who have four to seven members and were getting visa-on-arrivals at half the price before October.” The agency claims visa business has picked up significantly, by 100% since the new rules came into effect, and they’re certain it’s the same for most agencies. An official from the UAE Embassy in Bahrain criticizes the visa issue for being blown out of proportion. “Why are they not complaining about the US or Schengen visa? For a Schengen visa, applicants get interview slots after a two-month wait and have to fill out a
seven-page application. Our process is the least difficult and we’re not doing this to make lives miserable, we do this for safety. There are many smuggling, drugs and terrorism issues threatening countries across the region –immigration authorities across the world are taking precautions.” The official, who also wished to remain anonymous, said that Dubai’s airport sees five to six plane landings within 15 minutes and half of these passengers require visa-on-arrival. This increases processing and waiting time at the airport due to inspection and regulation, especially if a traveler comes from a conflict zone where the government has poor control and cases of fake passports and residency visas are likely. The UAE Embassy representative reassures travelers that the country is simply tightening regulations due to “safety” and wishes to have more control over who is allowed to enter their borders. “It’s best to check with your travel agent, the airport or airline to inquire whether you’re eligible for visa on arrival.”
VISA FACT You don’t need a visa to travel to the UAE if you’re a citizen of the GCC countries of Bahrain, Kuwait, Oman, Qatar and Saudi Arabia. You’ll automatically be issued with a free 30-days visa upon arrival in the UAE if you’re a national of: Andorra Australia Austria Belgium Brunei Bulgaria Canada Croatia Cyprus Czech Republic Denmark Estonia Finland
France Germany Greece Hong Kong Hungary Iceland Ireland Italy Japan Latvia Liechtenstein Lithuania
Luxembourg Malaysia Malta Monaco Netherlands New Zealand Norway Poland Portugal Romania San Marino Singapore
Slovakia Slovenia South Korea Spain Sweden Switzerland United Kingdom USA Vatican City
If your country is not in the above list, then you will need to apply for a visa before you travel to the UAE. Visa requirements sometimes changes without prior notice, so it’s a good idea to check whether you need a UAE visa with the UAE Embassy in your home country or with the General Directorate of Residency and Foreigners Affairs, Dubai (GDRFA-D). Gulf Insider February 2016
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Art
Art Bahrain
will return in October
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he second edition of ArtBahrain will be in October this year, it was announced during a Press Conference today at Four Seasons Hotel Bahrain Bay. The 2015 edition hosted nearly 50 participants from 17 countries across the Middle East and beyond, witnessing a footfall of nearly 15,000 visitors with total sales topping BD170,000. The event featured the works of acclaimed artists and galleries, and introduced the public to diverse art aptitudes from classic acrylic to sculpture, digital photography and new age installation. “Our aim is to increase participation by 10-15% this year and reach out to artists, art institutions, countries and regions that were not represented previously”,
commented ArtBahrain Co-founder Kaneka Subberwal. “Based on the positive response we have received so far, we are confident we can achieve this target and build on last year’s success.”
ArtBahrain is a culmination of artists, galleries, collectors and art lovers from around the world and serves as a strong platform to showcase the very best talent in the global arts arena.
Online edition at www.Bahrain-Confidential.com
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Issue
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THE CRAZY ART OF ANNA THACKRAY
The Best of Bahrain
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Art
Behind the Scenes with Giselle
Bahraini photographer Rasha Yousif had the rare opportunity to document backstage rehearsals of the Giselle ballet show which took place at the Bahrain National theatre last December.
“I f i s u o Y a Rash 56
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stayed behind curtains most of the time looking through small gaps. I was fascinated with the atmosphere and the flow of movement of the performers. This series has a lot of emotions and using monochromatic photos really helps in emphasizing the emotions of the performers. Giselle’s story by itself is full of drama and I wanted to emphasize the emotions,” says Rasha. Giselle is a romantic ballet in two acts inspired by ancient Slavic folklore and the work of Victor Hugo. Interwoven
with elements of fantasy, the story tells the tale of a peasant girl named Giselle who dies of a grief-stricken heart after discovering that her one true love Albrecht is betrothed to another woman. The Wilis - mythological women who dance men to death in Slavic folklore - summon Giselle from her grave and target her lover to death, but her love frees him from their grasp. Born and raised in Muharraq, Rasha Yousif is passionate about documentary and travel photography focusing on culture, architecture and traditional ways of living. Capturing moving objects or
Art
Giselle is a romantic ballet in two acts inspired by ancient Slavic folklore and the work of Victor Hugo. vibrant colors keep her photos alive. Hailing from a purely Finance background, colors and creativity push her to battle and seek a balance between her left and right brain, she jokes. “I read, write and travel just for the love of photography,” says Rasha, “I’m currently organizing my first photo expedition to India. I arranged this trip for a small group of photography enthusiasts and made it open for the public to apply. The expedition is a cultural exploration of some of India’s historical spots in addition to celebrating Holi festival in Rajasthan.”
Keep up with Rasha at www.rashayousif.com Gulf Insider February 2016
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Last Word
First 10 minutes 7 10 things successful people do in the first 10 minutes of the workday. “Getting off on the right foot is important with the start of any workday, particularly busy ones,” says Michael Kerr, an international business speaker and author of “You Can’t Be Serious! Putting Humor to Work.” Lynn Taylor, a national workplace expert and the author of “Tame Your Terrible Office Tyrant: How to Manage Childish Boss Behavior and Thrive in Your Job,” agrees. “Those brief moments can predict your all-important mindset because they’re the first impression of your day ahead,” she says. Kerr says successful people tend to thrive on routine and habits. “Creating consistent habits is largely what makes them successful,” he explains. “And a key time for habit-forming practices is at the start of the day.” Here are 10 things the most successful people do in the first 10 minutes of their workday:
1
They reflect
- Achieving your best results requires you to reflect on where you’ve been, where you are, and where you’re going, says Taylor. “Successful people build in quiet time and solitude to do this first thing. They ask themselves: ‘What did I accomplish toward my goals so far this week — or last week?’ ‘What is the status of my current project?’ ‘What do I need to accomplish today in light of this?’”
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They take a moment to pause and be present - Centering Gulf Insider February 2016
yourself and being fully present will help make sure you manage the day ahead, rather than allowing it to manage you.
3
They get comfortable
4
They review their to-do list and prioritize - It’s vital to put
Successful people take a minute at the beginning of the workday to organize their workspace area. Says Taylor. Successful people also make sure to stretch and get their circulation going before they get into a sedentary sitting position.
the most important tasks first. Though the least desirable but critical projects are easy to put off first thing in the morning, your energy is strongest then, so that’s the ideal time to confront the most difficult assignments.
5
They visualize success
By envisioning the positive outcomes of various projects at hand, you can work backward and determine the necessary steps to get your desired results. “This helps them remember the need to stick to the plan and focus on the things that are truly important and not simply urgent,” Kerr explains.
6
They don’t multitask
Research conducted at Stanford University found that multitasking is less productive than doing a single thing at a time.
They say “no”
- Successful business professionals know how to mitigate distractions. Being a people pleaser isn’t good for anyone, Taylor explains. “Generally, no one ends up being pleased, as you can’t do your best work with conflicting priorities.”
8
They take time to greet their team - This is especially critical
9
They take a moment to be grateful - “A great way that
10
They strategically check email – “Email can quickly
if you are a leader, Kerr says. Taylor says visiting and checking in with your boss and team will help yourself and others kick-start the day. “You just can’t skimp on your people skills,” she says. Being friendly first thing in the morning makes the workplace more pleasant for. Strong managers also take a moment in the morning to talk briefly with their staff to ensure they seem engaged and motivated. “At a glance, these savvy professionals can often get a cursory reading of the energy level and job satisfaction of their staff,” Taylor says.
successful people start their day is to identify something they’re grateful for, and it may be personal or businessrelated,” Taylor notes. “It’s motivational and reminds them to put small things in perspective. Once you’ve adopted the right mindset and routine for success, the rest of the day flows much more smoothly.”
become a time-wasting, distracting quagmire,” Kerr explains. “Checking email can become one of those tasks that make it feel like you are accomplishing things, wherein the danger is you are not attending to priority-action items, and you’re letting others set your agenda,” which means the first 10 minutes of the day may be a quick scan and prioritization of emails to answer later as part of your preplanned day.
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