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Contents August 2015
Special Feature
WORK Business
The Go-To- Market Revolution Business
50
10 Best apps and tools
Finance
Citibank lauded as Bank Of The Year Property
Dubai: killing them softly
Affairs
The fuse is lit for nuclear arms race in ME Affairs
52
14 Cover Story
Bogus Degrees
US failures in libya
PLAY
16 38 20 41 26 42 27 50
Travel
32 52 34 56
Art
Travel Hacks Travel
Private Jets
Life
Dubai’s $20 million home
Motors
London- the Arabs are in town
Islamic Architecture
Art
Faiza Saeed
The Arabian Review
Comment...
Publisher & Editor in Chief - Nicholas Cooksey Editorial - Agnieszka Piechoska
‘Fuse is lit for ME nuclear arms race’ The atomic deal agreed with Iran has ‘lit the fuse’ for a nuclear arms race in the Middle East, critics have warned. Last month’s announcement was met with a profound wariness in the Arab world, where there are fears of Tehran gaining a nuclear weapon and deep skepticism that the accord will prevent that from happening. Critics of the U.S-led negotiations warned that the other nations in the Middle East will ‘not sit idly by’ while Iran develops its nuclear capabilities. They also point out that it has now opened the door for Russia to exert more influence in the region after it struck three major nuclear deals in the Middle East in the last six months.
Regular Contributors - Hugh Haskell-Thomas - Nicholas Cortes - Bill Daly Guest Contributors - Tariq A. Al Maeena - Rich Hutchinson - Loe Babauta Layout Designs - Dhanraj S Business Development - Redia Castillo Admin & Finance - Nikesh Pola Photography - Harold Tejada - Bench Medina Distribution Executives - Mohammed Yousif - Muhammed Shareef P - Rafnaj K P
Under the accord, sanctions imposed by the US, EU and UN will be lifted in return for Iran agreeing long-term curbs on a nuclear programme that many suspected was aimed at creating an atomic bomb. Saudi Arabia’s former intelligence chief, Prince Turki al-Faisal, warned earlier this year that a deal might fuel a regional arms race. ‘Deal or no deal, tension in the region is not going to go away,’ said Abdulkhaleq Abdullah, a professor of political science at United Arab Emirates University. ‘If Iran is bent on acting as a hegemon, as a regional power, I think we are in for some difficult times.’
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Red Tape Blues
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Is Red Tape Holding Back Bahrain? Bahrain BD2
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Your article in June concerning Bahrian’s red tape problem was a very interesting read for me, particularly as I was waiting at the LMRA at the time. I noticed that some staff seemed diligently to be doing their best to serve those waiting, while others seemed very ‘relaxed’ with long periods between their seeing people each customer – due to their spending time looking at their mobile phones. Perhaps it was for professional reasons, though I can’t think what they might have been.
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Excellent feature on red tape – I appreciate you covering such issues. Some of those you interviewed seemed less keen to be open about problems (er challenges) regards this than others. Fair enough – I know in this region people are more reticent to discuss certain subjects. I do much travelling between GCC states and it seems to me Bahrain and UAE are the most organized though far from perfect. Perhaps you should consider an article on the public sector bureaucracy in Singapore which is super-efficient and hopefully would act as an inspiration for many in this region, and others, as a shining example of how things CAN be done if there’s a will.
Dubai’s abandoned Luxury Cars It was a sight to see a $1 Million Ferrari coated in dust abandoned in Dubai – wow! More photos like this please – pretty please!!! Hamad – Bahrain
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I was reading in Gulf Insider about Qatar Airways being voted the best airline in the world, on a Qatar Airways flight to Bahrain. Smart product placement!
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Bahrain announces plans for new 1m sq m island redevelopment Plans to transform part of Bahrain’s Hawar Islands into a new tourist resort have been unveiled. A masterplan has been drawn up to develop Northern Dohat in Hawar Islands, a scheme that would total 1.15 m sq m of the overall 3.5 m sq m of the archipelago. Bahrain’s state news agency said the new development would “turn Hawar islands into a prized tourism destination that would also take into account the need to conserve land and marine wildlife”.The scheme is intended “to diversify sources of revenues amid acute fluctuations of oil prices”, but funding for the project has not yet been confirmed. No specific details on the scheme’s components were made public. However, during the committee meeting, Sheikh Khalid bin Abdulla Al Khalifa, deputy prime minister and head of the Ministerial Committee for Reconstruction and Infrastructure, issued directives to plan the infrastructure and services required for the project to commence. He also directed the relevant authorities to study ways of financing the project. – ARABIAN BUSINESS
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Gulf Insider August 2015
Dubai ranks second in world’s property market City’s market had collapsed during the 2008 crisis, when property prices fell by half in a single day Dubai ranked second in the Global Property Guide’s list of the world’s property markets for the best performance in terms of real estate trade. The Dubai property market is one of the markets that collapsed during the 2008 crisis, when property prices fell by half in a single day. Hundreds of thousands of dollars in housing projects were suspended or cancelled, leaving investors confused and completely exposed. When the global economy started to recover, there was an active return of demand for property and construction works on the suspended projects were resumed, Almogaz reports. Thus, Dubai is the second best property market in the world, with prices increasing by 13 per cent in 2014. Ireland, where property prices increased by more than 16 per cent in 2014, topped the Global Property Guide list as the best property market in the world. – AME INFO
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Bahrain nets $1bn of foreign investment in 2014 Foreign direct investment (FDI) in Bahrain stood at almost $1 billion at the end of 2014, according to a report from the United Nations. The kingdom attracted $957 million in FDI last year, a similar level to 2013 when the figure was $989 million. Its FDI stocks stood at $18.8 billion last year, representing 55.5 percent of GDP compared with 54.3 percent in 2013, and the highest level in the GCC. The figures were revealed in the UN Conference on Trade and Development (UNCTAD) World Investment Report 2015. The report showed that FDI inflows as a percentage of gross fixed capital formation amounted to 22.4 percent in 2014, compared with 19.3 percent in 2013. Bahrain’s news agency said Khalid Al Rumaihi, chief executive of Bahrain’s Economic Development Board (EDB), told a launch event the results showed “the ability of the national economy to bolster its solid share of foreign direct investments”. Meanwhile, global FDI fell by 16 percent to $1.23 trillion last year, due to political uncertainty and a still fragile global economy, the UN report showed. – ARABIAN BUSINESS
Bahraini insurer plans takeover of Dubai-based Takaful Re Bahrain’s Arab Insurance Group is in discussions to take full ownership of Dubaibased Islamic reinsurer Takaful Re, as regulatory moves add pressure on firms in the overcrowded Gulf insurance sector to consolidate. ARIG is discussions to buy the remaining 46 percent of shares it doesn’t already own in Takaful Re, subject to shareholder and regulatory approval, the firm said in a bourse filing. Major shareholders of Takaful Re include Dubai Investments, Emirates Funds, Emirates Industrial Bank and the Islamic Development Bank, each holding a 10 percent stake. There are about 70 takaful or Islamic insurance firms in the Gulf region which compete for premium income of about $10 billion, 80 percent of which comes from Saudi Arabia, according to
Standard and Poor’s rating agency. The industry faces a shakeout, encouraged by a range of regulatory changes introduced over the past year, the agency said in a report on Tuesday. These include a doubling of minimum capital requirements in Oman and enhanced liquid asset requirements in Kuwait and the United Arab Emirates, with Bahrain introducing more stringent solvency requirements, S&P said. These measures have already prompted some consolidation steps. In April, Bahrain Kuwait Insurance Co raised its stake in local peer Takaful International to 40.9 percent, a market with 24 locally incorporated insurers including nine Islamic firms. – ARABIAN BUSINESS
Tamkeen Launches Hospitality Training Programme with Leading Bahraini Hotels As part of Tamkeen’s efforts to develop Bahrainis and make them the employees of choice, and in cooperation with three of Bahrain’s top hotels, Sofitel Bahrain, The Westin and Le Meridien, Tamkeen has launched a new training scheme for Bahrainis in the Tourism and Hospitality sector. The scheme aims to provide candidates with the necessary skills to be able to join the hospitality sector via practical on-site training at each hotel to ensure effective and efficient job performance. Training and certification will be provided by Third Wave International and the William Angliss Institute. Each hotel programme will provide 25 slots for candidates while stipulating that each candidate must be Bahraini, above the age of 18 and must pass interview and assessment.
Le Meridien & Westin Trainees 10
Gulf Insider August 2015
News
Bahrain’s non-oil economy grows 5% during Q1 Growth in Bahrain’s non-oil economy has risen above projections, by five percent during the first quarter of 2015, according to new official statistics. The latest quarterly bulletin from Bahrain’s Economic Development Board (EDB) highlighted real annual GDP growth of 2.9 percent and strong labour market activity, with employment increasing by 5 percent compared with the same period last year. The report also found that the hydrocarbons sector had declined by 5.7 percent year on year. However, growth in the non-oil economy – which the EDB said constitutes more than 80 percent of Bahrain’s GDP – saw strong growth reaching 5 percent. This is above the EDB’s projections of 4.5 percent. Growth was recorded in several sectors, including the social and personal services sector (healthcare and education), which overtook the hotels and restaurants sector as the fastest growing sector with 8.3 percent year-on-year growth. The construction sector, meanwhile, recorded 7.5 percent growth year on year, and the manufacturing sector grew by 5.9 percent year on year. Growth in the transport and communications sector followed closely with a 7.3 percent year on year expansion. Despite global economic challenges, the EDB said, the statistics suggest “a high degree of continuity in the regional non-oil economy, reflecting the strength of key structural growth drivers”. The report also claimed employment was growing at its quickest pace since the second quarter of 2013, and was driven by the private sector, which represented 89 percent of annual growth in job creation during the first quarter of the year. There was also a 3.5 percent drop in unemployment – the lowest level recorded since the third quarter of 2012. Government revenues rose by 11 percent in 2014 and expenditures declined by 11 percent, placing the country in a stronger fiscal position, the EDB said. Bahrain is set to invest over $22 billion in key infrastructure projects over the coming years, including a commitment to build 25,000 housing units over the next four years. – ZAWYA
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Gulf Insider August 2015
Dubai needs affordable housing ‘to remain competitive’
Khatija Haque, head of MENA research at Emirates NBD, says affordable housing is necessary to keep Dubai on its tracks. Haque elaborates on the subject, cautioning that “if Dubai is going to remain competitive over the long term, it needs to be an affordable place for people to live”. She goes on to assure, however, that “incentives are being talked about to try and encourage the building of affordable housing units; there is work being done”. According to Haque, domestic demand for real estate is still quite strong; agents consistently state that the number of enquiries from residents in the UAE is growing. “I think there is recognition, even at the government level, that this is a key issue that needs to be addressed,” she explains. “It is a different strategy and approach to developing the real estate sector compared with 2008, when the focus was always on luxury and high-end properties. Now, there is an understanding that, for a real economy to grow in a sustainable way, you need to have housing that people can afford.” An off-plan buyer would need to have a lot of cash to purchase property, says Haque, pointing out that not a lot of people have that kind of money. Even mortgages and housing loans may not be able to make up for that, she warns. “With the increase in transaction taxes and other fees associated [with mortgages], you need about 33 per cent of the value of the property if you want to get financing. If you are looking at a property in excess of AED2 million, that is quite a lot of money for someone to have to put down.” – KIPP REPORT
News
Foreign firms say more than just sanctions hold back trade with Iran Western firms are itching to return to Iran if sanctions are lifted, but to truly fulfil its potential Tehran should do more to make its business practices efficient and its environment welcoming, executives said at a trade conference. At the conference in Vienna, Iranian officials touted their country - with a population of just under 80 million and annual output of some $400 billion - as a potential bonanza for investors in oil and gas, mining, engineering and cars. But some of those attending said achieving Iran’s economic potential would require more than just an end to U.S. and EU sanctions that have sharply curbed trade since 2012. “Sometimes we wait really long for our money, maybe you can change that” Alexander Speckle, CEO of ILF Consulting Engineers Austria, a company that provides engineering expertise to industrial clients, asked during a panel discussion with Iranian officials. Speaking on the sidelines of the conference, a representative of Austrian food and chemical company Kasel listed some of the hindrances to trade with Iran. “Payments need to be sorted out. Infrastructure and transportation need to be organised,” he told Reuters . Goods that arrive at customs for inspections can take too long to reach customers, he said. “They take samples, but then there are not enough labs that can analyse the samples... goods may sit in the harbour for a month at 80 degrees Celsius. The customs office needs to be reformed.” Iran’s deputy minister for mines and the metals industries, Jafar Sargheini, told Reuters that the biggest hurdle to trade was still the effect of sanctions on Iran’s banks: “It’s a bank problem. Once that is removed, everything will be easier.” Many at the conference said it would be key for Iran to be re-admitted to the SWIFT global payments system, from which it was expelled in 2012. But there are also issues of trust, political risks, logistical hurdles and simple western comforts. Iran will be a new destination for many Western executives, at a time of tumult in the Middle East. Televised images of Iranian demonstrators chanting “Death to America” can put off visitors. – REUTERS
UIA appointed lawyer Al Jabal National Representative The International Association of Lawyers (Union Internationale des Avocats, UIA) has appointed the Bahraini lawyer Mr Ali Al Ajabal as National Representative of the Association for a period of two years. Al Jabal was nominated as National Representative of UIA for the Kingdom of Bahrain at the Executive Committee meeting of the association held in Zagreb/ Croatia last month. As National Representative, Al Jabal is also a member of the UIA Governing Board, so he will be attending the Governing Board meetings on September 12, 2015 in Dublin and on October 28, 2015 in Valencia. The Responsibilities of Mr Al Jabal is to establish a contact with Bahrain Bar Society and other local or regional organisations and to represent UIA through the media. He is responsible also for attracting local lawyers to become members of UIA and providing workshops and presentations for members and potential members. The UIA is the world’s oldest international association brings together over 200 bar, federation and association members from more than 110 countries. The UIA is committed to its work and has enjoyed special consultative status with the United Nations and the Council of Europe since 1971, in its capacity as a Non-Governmental Organisation (NGO).
Gulf Insider August 2015
13
Special Feature
bogus degrees Legislation required against diploma mill degree holders. Tariq A. Al-Maeena
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Gulf Insider August 2015
Special Feature
A
few days ago I received a disturbing email that set of alarm bells and signals of concern. In a limited but analytical study, Dean Hoke, the founder of Edu Alliance, an education managementconsulting firm based in Abu Dhabi, United Arab Emirates, disclosed disturbing figures of people with bogus degrees living and working in the GCC. Hoke, who has an extensive background in the fields of higher education, broadcasting and community relations, used a recent New York Times expose on the bogus degree practices by the Pakistan corporation called Axact and gleaned out the names of the fake universities offering fake diplomas. He then cross checked names of these institutions on the LinkedIn website with GCC professionals who professed to carry credentials from these universities. What he found out was indeed alarming. There were over 3,000 people with bogus degrees living in the GCC. Hoke provided five examples of people who state on LinkedIn that they have a degree from the bogus schools and what they do for a living: Saudi Arabia: General Manager at Healthcare Services Company
UAE: Principal at International Private School Abu Dhabi
Qatar: Head of Project Controls at Qatar Gas Company
Kuwait: Safety Site Superintendent
follows: The UAE had the highest number of bogus degree holders followed very closely by Saudi Arabia. What was particularly significant to me was the companies in the Kingdom that employed these fake charlatans. Saudi ARAMCO has four bogus degree holders on their payroll. Al Marai, Abdul Lateef Jameel and STC also have imposters working within their organizations, and the list keeps going on and on. The list includes a variety of organizations from airport expansion to civil works that have been duped by these frauds who are currently on their payroll and no doubt have been instrumental in the project delays and high costs.
There were over 3,000 people with bogus degrees living in the GCC. UAE had the highest number of bogus degree holders followed very closely by Saudi Arabia.
Bahrain: Deputy General Manager of a Islamic Bank
As Hoke describes in his study, “The New York Times determined hundreds of online universities are likely to be linked to Axact’s operation. I decided to look further into the list of universities to determine how many people have a degree from one or more of these schools. I went into my LinkedIn account and began a search of each university, which generated a list of individuals who reported being a graduate of one of the bogus school. I restricted my search to the GCC countries (Saudi Arabia, United Arab Emirates, Bahrain, Kuwait, Qatar, and Oman).” He summarized his findings as
I had long admired ARAMCO as the premier organization in the Kingdom. But in recent years I have been receiving a stream of complaints from some of my readers about the growing ills within the company. Charges of nepotism, bureaucratic inefficiencies and a general malaise were some of the items brought up. Some ARAMCOANS told me they decided to opt for early retirement on account of the gradual shift from what was a highly fine-tuned organization run according to high Western standards to the state of affairs as they claim it is today. Findings by Dean Hoke shore up
their credibility because if ARAMCO has indeed employed bogus degree holders then they have slipped very far down the ladder. Hoke also warns us that this list was gleaned only from the names of bogus universities that Axact was using. “The bad news is that there are many hundreds of others doing the same thing.” And it is not simply bogus degrees that such companies provides. “Apart from the alleged sale of fake diplomas and degrees through its online universities and colleges, Karachibased IT company Axact has also been offering its services as ‘proxy students’, filling in for all the academic work originally assigned to students enrolled in reputable educational institutions in US.” This is indeed disturbing and will continue to proliferate in a region that needs quality rather than quantity. It is important to remember that Hoke’s study was a limited one. I shudder to imagine what more can he reveal with another exhaustive study and with unlimited resources at his disposal. It is time to send a strong message to such charlatans that their bogus credentials will not be tolerated. The media must play a bigger role in alerting society of such ills. The Shoura Council must make immediate legislation to penalize all those proven to be carrying fake degrees with hefty fines and jail sentences. Otherwise we may one day find ourselves undergoing heart surgery or flying on an aircraft manned by one of these impostors.
Article originally published in the Saudi Gazette. The author can be reached at talmaeena@aol.com. Follow him on Twitter @talmaeena Disclaimer: Writers’ and opinions are not necessarily those of Gulf Insider unless otherwise stated.
Gulf Insider August 2015
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Business
The Go-to-Market Revolution Growth is an imperative. But it needs to be profitable growth and that is not a given. By Rich Hutchinson
Igniting Growth with Marketing, Sales, and Pricing.
I
n the recent era of uncertainty and financial constraint, many companies have focused on efficiency. They have energetically cut costs, even in the “go-to-market” commercial functions crucial to driving revenue— sales, marketing, pricing, branding, and customer insight. These companies have achieved productivity gains, but they’ve reached the point of diminishing returns. We’re learning again that we can’t cut our way to growth.
A small set of successful companies are taking a different path. They are transforming their commercial functions and capabilities to create an engine of short-term revenue growth and longterm profit. They are doing so with little risk. These near-term victories are “self-funding” the creation of strategic capabilities. These leading companies are taking advantage of what The Boston Consulting Group calls the “Go-to-
Market Revolution.” The Go-to-Market Revolution is a wave of technological and customerdriven change that is altering the level of sophistication with which companies deploy their commercial capabilities. This new era hasn’t altered the fundamentals required for go-to-market excellence, but it is creating new possibilities. It is taking what is now possible—the current state of the art in commercial functions—to the next level.
115 billion
Google users now conduct more than 115 billion searches a month, creating personal search histories. 16
Gulf Insider August 2015
Business
Three tides of deep-rooted change are driving the revolution. The first is the dramatic shift, in almost every industry, of what BCG calls customer pathways—the ways customers learn and communicate about products and services on the path toward a purchase. Second, technology and advanced analytics are providing new tools for sales and pricing teams, marketers, and researchers. Third and finally, companies now navigate a globalizing world that requires most of them to compete in new markets, often against unfamiliar rivals. The rich opportunities—and the perils of failing to act—emerge in the details of the three historic and concurrent tides of change driving the Go-to-Market Revolution.
Customer Pathways The first tide is the rapid recent evolution of what BCG calls customer pathways. The ways consumers learn about and buy products have shifted dramatically and quickly, triggered by changes in technology, communications, and media. The media once presented a landscape of force-fed information, dominated in the U.S. by the three major television networks, radio, billboards, and a handful of print publications. That has evolved into a customer-driven universe of Internet connectivity, Web searches, cable channels, peer-review marketing, and mobile devices and apps. Consider some specific examples of disruption and change driven by the shift in customer pathways:
Google users now conduct more than 115 billion searches a month, creating personal search histories that determine the customized ads that Google’s algorithms serve them. As a result, Google’s ad revenues now surpass those of all U.S. print publications combined.
The customer-pathway revolution has affected every industry—across both the consumer and businessto-business sectors. In the new environment, developing deep customer understanding and a consumer-centric view is the bedrock of success. It is a more transparent world.
A small set of successful companies are taking a different path. They are transforming their commercial functions and capabilities to create an engine of short-term revenue growth and longterm profit.
The great majority of today’s purchases of durable goods are researched online before customers buy.
Customer trust is a critical source of sustained competitive advantage, and it needs to be managed as a line activity. Brands must be backed by high-quality products and authentic corporate missions. Marketing teams must be capable of managing greater personalization and faster feedback loops.
Peer-review customer ratings are posted online for nearly every consumer product in the world.
Advanced Data and Analytics
The insurance and travel industries have shifted almost radically from agency-driven channels to online in less than a decade.
Mobile devices enable location-specific
shopping—and marketing.
The second driver of change could be called the go-to-market arsenal. It is the rapid and transformative evolution
of “smart” data, advanced analytics and modeling, and other tools capable of increasingly sophisticated approaches in segmenting and analyzing information and reaching customers. The data revolution has transformed business sectors, from retail to financial services. For example, one vehicle company in India was able to map more than 95 percent of all its potential customers in the country—who bought what and where—in less than three months. The cost of capturing, storing, and rendering data into decisions is falling rapidly. Increasingly, companies are leasing space in the cloud—using services like Amazon’s Redshift—as the cost per terabyte plunges. Cheap and effective data manipulation is leveling the playing field for smaller companies. It is revolutionizing sales force deployment, customer segmentation, product promotion, and return on marketing investment. Consider one example: In times of slow growth, successful companies satisfy the specific needs of each customer. By catering to much smaller segments, through mining data, companies can discover hidden pockets of growth in richly diverse markets. The concept of segmenting markets by geography or customer type has been around for decades. What’s different now is that digital and mobile technologies allow access and analysis of enormous quantities of sales and marketing information at a more microscopic level than ever before. Companies can quickly and inexpensively gather data from the field without an army of IT specialists and data experts.
Global and Emerging Markets The final driver of the Go-to-Market Revolution is globalization, which creates two fundamental commercial challenges. First, globalization has changed the competitive landscape in every market. The rise of globalization has opened labor markets and expanded offshore production, resulting in lower product costs in developed countries even as it destabilized brands and prices. Globalization is also ushering foreign competitors to the doorstep of domestic
Gulf Insider August 2015
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Business
businesses. It is shortening product cycles and speeding shifts in consumer tastes. Go-to-market strategies need to adapt to these dynamic market conditions. Second, globalization in emerging economies has been accompanied by rapidly expanding wealth. Consequently, emerging markets represent a huge source of growth. The challenge is this: most companies have commercial capabilities in emerging economies that are less sophisticated than those in established markets. Accurate data can be scarce, rendering marketing ROI calculations difficult. Distribution channels are a mix of modern options— such as mobile—and Old World. The resulting shifts are profound, and they’ve accelerated in the past couple of years. As one business leader put it: “If you are doing things the same way you did them three years ago, you’re almost certainly doing something wrong.” Growth Zealot or Go-to-Market Laggard? Your company can ignore the potential benefits of the Go-to-Market Revolution, but it can’t avoid the perils of failing to take part. The gap between capability leaders and laggards is growing. If you are prepared to be a zealot for growth, here is a sample sequence of
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Gulf Insider August 2015
Every growth gain and each advance in capabilities can create a reinforcing cycle of improvement for the entire enterprise. actions and best practices to consider. Start with vision and ambition. Does your company currently have the vision to transform your go-to-market capabilities? Do you have the ambition to increase your top line 10 or 20 percent beyond current projections in the next few years? A necessary first step is helping your leadership team understand the opportunities inherent in the Go-toMarket Revolution.
Undertake a quick initial diagnostic step. Map how your customers’ purchase pathways have changed. Assess your commercial capabilities: marketing, pricing, sales, branding, and insight. Determine where you stand compared with best-in-class competitors
and identify which commercial functions offer the greatest near-term opportunity. Tailor a series of programs to build capabilities and improve performance simultaneously. For example, start with a high-impact pricing initiative.
With initial success in place, expand your efforts rapidly. For example, launch a program that boosts marketing effectiveness—such as a brand advocacy campaign. Then launch another—such as a sales-activation initiative—to equip your sales force with a technical arsenal of twenty-first-century tools.
The growth zealot must be a leader— able to inspire executives, managers, and employees; capable of transforming the whole by reinventing its parts; and committed to forging a new commercial future for the enterprise. Make no mistake, you may need several waves of activity to meet your objectives in each commercial discipline. If it’s done right, however, the journey will be self-funded. What is more, every growth gain and each advance in capabilities can create a reinforcing cycle of improvement for the entire enterprise. These are real challenges. For the bold, though, they present powerful paths to competitive advantage.
The Best of Bahrain - Revealed
Insider guide to dining, nightlife, & entertainment
Bahrain101, reveals the best in dining, nightlife, and events in Bahrain.
ut the
o Check
new
Sports and Spa Listings The Best of Bahrain - Revealed
Cover Image : Al Areen Palace & Spa
Issue 04 - August 2015
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We do not try to include all places, just the best places.
www.Bahrain101.com
Business
Do More Faster: 10 Best Apps & Tools Frank Addante lists the digital gems that help him be organized and save time.
1
Organize your email: Sanebox
Sanebox uses algorithms to organize your email into what’s important and what’s not. I was skeptical and had trouble giving up control of my inbox, but now I’m hooked. Tips: Trust it. Check @SaneLater twice a day, @SaneBulk whenever you feel like reading newsletters or promotions, and @SaneBlackHole for all the junk you never want to see again.
2
Keep track of all your notes: Evernote
Evernote stores your notes in the cloud, so you can access them from any 20
Gulf Insider August 2015
computer or mobile device. Tips: Use Evernote for both business and personal reasons. I take all of my business meeting notes directly in Evernote and scan or fax documents to Evernote that I want to keep. On the personal side, I take photos and store them in a notebook called Favorite Photos and keep copies of all critical identification (like my driver’s license, passport, and insurance papers) in a notebook called Wallet.
Download App: iPhone | Android
3
Store your documents in the cloud: Dropbox
Securely file away your digital
documents in the cloud, so you can find and work on them from any computer or mobile device later. Tips: I created two Dropbox folders-~Working Drafts and ~To File--and put them on my Mac in my Finder Favorites and on my Dock. I set the default sort order to be by Date Modified. This way, my most recent documents show up at the top of the list, and I can quickly drag or find documents there. I use ~Working Drafts as if it’s my desktop and never actually store anything on my computer desktop. When I’m finished with a document, I drag it to ~To File, and every once in a while, I go into the folder to organize folders that make more sense long term. Note: I include the tilde (~) in the filenames so that, when sorted alphabetically, these
Business
calendar. The website is great, but definitely download--and set to open at login--the desktop, iPad, and mobile apps. Start every “to-do” item with an “action” word. The only negative about the Web application is that it can’t be used offline. I use either the iPad or iPhone app while on a plane and sometimes will print a PDF of my to-dos before I take off and leave it on my desktop.
Download App: iPhone | Android
5
Assemble your travel plans: TripIt
TripIt files all your itineraries in one place. You can even have it automatically send your itineraries to your significant other, kids, or always-worried mom. The Pro version alerts you of flight delays and gate changes. Tips: Download the mobile app and put it on your home screen. Create a contact for plans@tripit.com and forward all itineraries to that contact.
Download App: iPhone | Android
folders always show up at the top.
Download App: iPhone | Android
4
Prioritize your to-do list: Action Method
It’s an online app that helps you organize to-do lists and track and delegate tasks. Tips: Use Action Method’s three color codes to set your priorities. Use orange for tasks that must be done on the scheduled day, blue for tasks that should be done that day but can push a day if necessary, and grey for tasks that you’d like to get done that day but will push if there are other deadlines. I follow the same color code in my
6
Automatically transcribe your voice-mail messages: YouMail
This voice-mail service transcribes your voice-mail messages and sends them to you by email or text (or both). The mobile app makes it easy to view, listen, read, and forward your voice mails.
Download App: iPhone | Android
when I can read and post on social media. Try HootSuite’s new “auto schedule” feature, so you can spread out your posts and don’t flood your networks with many in a row.
Download App: iPhone | Android
8
Communicate in real time with your whole team: Yammer
Yammer is like a private Twitter stream just for your company. Tips: Get everyone in your company to sign up, and then use it as your main means of communicating information. This way, everyone will adapt to Yammer, because no one wants to miss out. Allow employees to post things that are “business” material and “fun” material. The fun material makes it more entertaining, and, in turn, the business material is more likely to be read.
Download App: iPhone | Android
9
Stay fit: miCoach
Exercise keeps your mind sharp. The miCoach iPhone app acts like your personal trainer. I lost 8kg using it. Tips: Set up your workouts in advance. I selected Get Lean for running and Get Fit for gym workouts. Buy the heart-rate monitor and stride sensor; it’s worth it. What gets measured gets done.
Download App: iPhone | Android
10
Sleep better: iSleep
This website allows you to use Twitter, Facebook, LinkedIn, Yammer, and others all from one place.
It’s important to get a good night’s rest. If you’re like me, your mind is constantly racing, and the day’s work never ends. The iSleep meditation app helps you fall asleep and stay asleep. It’s particularly helpful when you have jet lag or can’t fall asleep. I use the Deep Sleep playlist at the end of a long, stressful day.
Tips: I tend to have pockets of time
Download App: iPhone | Andr
7
Consolidate your social network accounts: HootSuite
Gulf Insider August 2015
21
Business
25 TimeManagement Tips
C
anadian designer Étienne Garbugli used to equate working long hours with success. He now says that he has learned far better ways to manage his time, workload, and schedule his days. Garbugli’s presentation “26 Time Management Hacks I Wish I’d Known At 20” was viewed by millions and became SlideShare’s “Most Liked” presentation of 2013. Here’s his new presentation of valuable productivity tips and techniques.
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Gulf Insider August 2015
Business
Gulf Insider August 2015
23
Business
How To Use Tricks To
I
Win A Negotiation
f you want to get the upper hand in a negotiation, give your opponent a coffee and sit them on a sofa. As new insights into the mind show, people’s behaviors are shaped by their physical sensations — all without their knowing. For instance, if you’re holding something warm, you’ll treat the people around you more warmly. That’s great if you want to make a friend, but not so great if you’re sticking to your asking price. This is all a part of embodied cognition, a growing field within psychology that shows how your mental life is a part of your physical life. In a 2008 study, experimenters gave cups of coffee to people and asked them to rate somebody’s personality based
on a snippet of information. The trick was that one group held a hot cup of coffee, and the other held iced coffee. The group that held the hot cup gave a much higher rating of “warmth” than the people holding the iced coffee. None of them were aware that the cup of coffee influenced their judgment. In a related 2010 study, experimenters sat subjects down and put them into a simulated negotiation over the price of a car. Their first offer was rejected and then they had to make another offer. The trick was that one group of subjects was seated in soft chairs, another in hard chairs. The people in soft chairs increased their offers by almost 40% more than those in hard chairs. The people in hard
chairs, on the other hand, were hard bargainers. In a 2011 study, experimenters gave subjects a bit of chocolate, a cracker, or no food. They were then asked to fill out an unrelated questionnaire, after which an experimenter told the participants that “another professor from the psychology department had just stopped by and said that volunteers for another, unrelated study were needed.” Who was more likely to volunteer? The chocolate eaters. The conclusion: In a negotiation, give your opponents something sweet and warm and sit them in a soft chair, and it could tip the scale to your favour.
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Finance
Short-term real interest rates Short-term real interest rates to remain near zero for foreseeable future… according to industry poll
S
hort-term real interest rates (US) will remain near zero for more than three years, according to the majority of institutional investors, academics and policy makers polled at the AQR Asset Management Institute’s inaugural Perspectives event, at London Business School. At the start, delegates were asked how much longer they expected shortterm real interest rates (US) to remain near zero, with 38% answering more than three years. However, when polled on the same question at end of the discussion, delegates had hardened their stance with 53% saying more than three years. Robert W. Jenkins, Chair of the AQR Asset Management Institute and Adjunct Professor of Finance at London Business School, who moderated the debate, commented: “A clear theme from the debate was that many market participants believe that central bank extraordinary monetary policy is driving the continued low rate environment, while many central bankers do not.” He added: “Interest rates are low - but not as low relative to history as many might believe so a return of rates “to normal” may surprise on the low side.”
Additionally, almost two thirds (64%) of delegates felt that Quantitative Easing is highly likely to create an asset price bubble – where prices become disconnected from reality. Three quarters (76%) said that over the next five years there is a low likelihood of global economies experiencing either high inflation or deflation. The debate ‘Perspectives: Unprecedented Monetary Policy
64%
of delegates felt that Quantitative Easing is highly likely to create an asset price bubble Intervention. The Current and Future Impact on Global Markets’ heard three distinct views – academic, investor and central banker – on the impact and efficacy of monetary policies. Speakers included Raghuram Rajan, Governor, Reserve Bank of India, who presented on the challenges facing
central bank policy makers in the current economic and political environment, Roger Urwin, Global Head of Investment Content, Towers Watson, Jeremy Stein, Moise Y. Safra Professor of Economics, Harvard University, and Lars Svensson, Professor, Stockholm School of Economics. David Kabiller, Co-Founder of AQR, commented: “The event provoked lively debate and, as evidenced by the audience poll before and after the event, shifted perceptions.” The audience heard how extraordinary monetary policies were crucial to restoring confidence in the early stages of the financial crisis, yet a continuation of the same policies now risks inflating asset prices to unsustainable levels and eroding general confidence in pension and insurance company retirementrelated entitlements. Should current conditions persist, further risk and benefit shortfalls could result. Economic growth is needed to meet pensions liabilities but the outlook for economic growth is uncertain. The Institute’s next event will be a two day conference in London on 26 and 27 October 2015.
Gulf Insider August 2015
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Finance
Advertorial
a simpler, smaller, safer and stronger bank,” said Citi CEO Michael Corbat. “I’ve said since I took over as CEO that two of my goals are that Citi become known for making smart decisions and for being an indisputably strong and stable institution. This award shows that we’re well on our way and we have begun to show what our firm can do at its best.” Citi is the last global wholesale bank offering all products to its clients everywhere. It has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. It boasts a payment system handling $3 trillion a day, which no other bank is ever likely to do. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate
Citibank
lauded as Bank of the Year
C
itibank was lauded as the Best Global Bank for 2015 by Euromoney, the prominent financial markets magazine, at its Annual Awards for Excellence Dinner in London. This is the eight time in the last 10 years that Citi has won this prestigious award. Mark Slaughter, Citi Head of Corporate and Investment Banking for Asia Pacific said “In a highly competitive market, this independent recognition is greatly appreciated by all of us at Citi”. This top award is one of 13 won by Citi, which also included the Best Global Emerging Market Investment Bank; as well as a number of regional awards, including Best Investment Bank in Africa, Central and Eastern Europe,
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Gulf Insider August 2015
Latin America, Argentina, and Peru; Best Equity House in Africa; Best DCM House in Turkey, Latin America, and USA; Best Transaction Banking House in North America; and Best M & A (Merger & Acquisition) House in the Middle East. Euromoney said “Citi is a much changed, smaller, more focused institution. But it still has a truly global presence, in both consumer and wholesale banking, which competitors will struggle ever to replicate. Citi’s management has taken many of the necessary steps to ensure that a global universal banking model works. Our belief is that its clients, and its shareholders, will increasingly see the benefits of its unique global franchise.” “By every measure, Citi has become
Citi is the last global wholesale bank offering all products to its clients everywhere. It has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. and investment banking, securities brokerage, transaction services, and wealth management. Under the leadership of Michael Corbat, it has closed the shared price discount to book value. It has proven that a global universal bank can avoid the pitfalls of scale and deliver sustainable results.
Property
Dubai:
Killing Them Softly
S
ince Dubai’s price recovery in 2012, a flurry of off-plan units were launched in the market as developers tried to capitalize on the rising prices and strong demand. Initially, the launches were skewed towards prime properties as developers tried to maximize margins. However, developers changed course to service the need of the mid-income market since the demand and supply mismatch began to widen. As the flurry of off plan launches gathered momentum, liquidity was sucked out from the secondary market, while investors and speculators rushed to the primary market to capitalize upon payment plans. This has resulted in a drop in secondary market activity of 26% on a Y-o-Y basis.
Initially, off plan launches were at systematically higher prices than what was prevailing in the secondary market. This trend has reversed in the last 12 months, where off plan launches have been at levels that have averaged 20% below the secondary market rates; Number of Off-Plan Launches (2010-2015 Q2)
causing prices to soften in the secondary market by approximately 15% on a city wise basis. With launches expected to continue post Ramadan, the outlook for capital gains in the medium term remains limited. A bivariate analysis of launches between residential and commercial units shows that only 4% of new launches have been in the office segment. Developers have not yet focused on the commercial domain, due to the lingering effects associated with the boom bust cycle that culminated in 2008. However, since Dubai’s asset price revival, office vacancy rates have fallen as company formation gathers momentum, which is reflected in rental rates between both segments in the last 12 months (Offices have outperformed: JLT-Residential: 3%; JLT-Office: 10% and Business Bay-Residential: -2%; Business Bay-Office: 19%). As residential prices in the secondary market begin to dip due to the discounted offers in the primary market, we opine that developers will shift course towards the office segment in order to cater to the pent up demand. Moreover an upward trend will be curtailed until off-plan launches remain below the secondary market prices.
Information provided by Reidin.com
Number of Units Launches (2010-2015 Q2)
Gulf Insider August 2015
27
Property
Abu Dhabi
residential market … uptick in rental and sales prices in Q2 2015.
A
partment rental rates for prime buildings are on the increase in Abu Dhabi according to the latest Asteco market report, following a slow start to the year. In its Q2 2015 Abu Dhabi report, they reported a 6% rise in the last quarter; with the first six months of 2015 recording positive overall market dynamics for the sector. The majority of prime, high and midquality developments increased by 4% to 6% upon contract renewal; whereas new leases were, on average, 8% higher than in Q1 2015. Some of Abu Dhabi’s most popular prime developments, such as the Eastern Mangroves and St Regis Residences by TDIC, recorded rent renewal increases of 12% and 10% respectively, with long prospective tenant waiting lists, indicating the continued lack of prime quality supply in the Capital. However, prime apartment buildings located on the Corniche recorded little or no increase in Q2, with rental rates already at a premium. “This turnaround of events is
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attributable to the gradual stabilisation of sales prices over the last six months, allowing for strengthened yields and positive long term prospects for landlords,” said Jerry Oates, General Manager, Asteco Abu Dhabi. Sales prices for apartments and villas remained steady, continuing the trend of the last 12 months, although year-onyear figures showed average positive growth of 4% in apartment sales prices. Rental demand for quality villa stock in high-end developments also augurs well for potential investors with continued optimum occupancy rates for what stock there is available, with Asteco predicting an increase in rental rates over the next few months in the absence of any major handover of new villa stock before 2017. A number of high profile launches did however take place during Q2, predominantly located on Reem, Yas and Saadiyat Islands, including Aldar’s West Yas and Mayan on Yas Island; with Reem welcoming New Horizon, by Tamouh; Meera from Aldar; and Aabar’s The Kite. Saadiyat Island also saw some new launches such as Bloom Properties’
Park Views, which achieved sales rates between AED 1,750 – 1,850 per square foot. “These launches will add in excess of 3,600 new apartment units to the market from 2018, in addition to the 1,800 units announced during 2014, bringing much needed new supply to Abu Dhabi’s market. This is also a strong indication that developers are optimistic about market prospects, and both buyers and tenants will ultimately benefit from more choice,” said Oates. Demand for high-end villas has also been positive in Q2, with Asteco highlighting the successful launch of TDIC’s Jawaher Al Saadiyat and Hidd Al Saadiyat developments, priced at AED5.7 million to AED25 million and from AED7.5 million to AED38 million, respectively. Emirati investors jumped to invest in the first phase of Aldar’s masterplanned Al Merief project in Khalifa City and Nareel Island located on the northwestern corner of Abu Dhabi Island, with plot sales reserved for UAE nationals. The recent issuance of a decree by HH Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE and ruler of Abu Dhabi, aimed at regulating and improving transparency in the local real estate sector will further boost market confidence and act as a catalyst for increased investor demand. “This as-yet-unenacted legislation will effectively protect investor interests in uncompleted projects, as it requires that brokers and developers be fully licensed. When it comes into effect it will further cement the reputation of the emirate as a credible long term investment haven,” noted Oates. While residential is showing strong growth potential, office rental rates remained stable in Q2 2015 due to significant availability in key locations across the city, including new prime supply, which has put pressure on rates of lower quality space in particular. However, Asteco notes that slow but steady growth continues to be recorded for prime office space, with a 7% increase recorded over the last six months.
For more details, please visit www.asteco.com
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Affairs
16
Amazing Facts About Saudi Arabia
Arabia is building Kingdom Arabia’s capital city, Riyadh, 1 Saudi 6 Saudi Tower, which will be the world’s has a big camel market which sells
Bangladesh, but with only 1/6th of the population.
2
80% of Saudis live in and 14 Over around cities. an effort to diversify its economy, 15 InSaudi Arabia is building 6 economic
about 100 camels every day.
Saudi Arabia’s labour force is approximately 8.412 million — but 80% are expats.
Arabia’s Ghawar field is the 3 Saudi largest in the world and has an
estimated 75 billion barrels of oil left.
Arabia’s military expenditure 4 Saudi for 2013 was $67 billion, an increase
of 14% from 2012. This puts Saudi Arabia in 4th place for military expenditure after the US, China, and Russia. Of the top 15 biggest military spenders, Saudi Arabia has the highest military spending as a share of GDP.
5
Saudi Arabia is the 13th-largest country in the world, and is the second largest Arab country (Algeria is the largest), however 95% of Saudi Arabia is desert or semi-desert.
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Gulf Insider August 2015
tallest building in 2018. It will be a kilometer high and is expected to cost $1.23 billion.
aren’t allowed to drive in 7 Women Saudi Arabia, although there’s no
written ban on women driving.
cities that are expected to add $150 billion to GDP and add 1.3 million jobs.
of women and 20.8% of men 8 54.4% people went on are unemployed. 16 InHajj,2012,about3.161.7million million coming from Arabia may end executions outside of Saudi Arabia. 9 Saudi by beheading because there’s a
shortage of swordsmen in the country.
a quarter of Saudi Arabia’s 10 Over population is under 14 years old, and
almost half are under 24.
Arabia’s oil sector accounts 11 Saudi for 45% of GDP (= $335,372 billion). Arabia’s health expenditure 12 Saudi accounts for 3.7% of GDP. 13 Saudi Arabia is 15 times bigger than
54.4%
of women and 20.8% of men are unemployed.
Affairs
ISIS will carry out ‘9/11 in Europe ‘within two years’
Gaddafi’s exiled cousin and former Special Envoy Ahmed Gaddaf al-Dam claims terror group will flood Europe with 500,000 migrants this year.
Thousands of terrorists, who will soon be running amok in Europe culminating in a terror strike on the same scale as the September 11th attacks.
Image : AP
T
Gaddaf al-Dam is still extremely loyal to his cousin, deposed despot Col. Muammar Gaddafi
he Gaddafi clan’s most senior figurehead has warned of ‘a 9/11 in Europe within two years’, while claiming that ISIS forces in Libya are now recruiting migrants to their terror cause with promises of ‘white virgins’. Ahmed Gaddaf al-Dam, Colonel Muammar Gaddafi’s cousin and former intelligence official, has professed that ‘not less than half a million’ migrants will set sail from Libya to European shores this year. Among them, he claims, are thousands of terrorists, who will soon be running amok in Europe culminating in a terror strike on the same scale as the September 11th attacks.
Mr Gaddaf al-Dam, one of several high-profile regime figures who fled to Egypt during the 2011 revolution, gave an interview to Britain’s MailOnline as the North African state descends into everworsening chaos and bloodshed. ISIS sent shockwaves across the world recently when they released a video of the beheading of 21 Coptic Christians with bloodcurdling brutality on the shores of the Mediterranean. The jihadist cutthroats have since pointed their sabres towards Europe, vowing ‘we will colour the Mediterranean Sea red with your blood.’ Mr Gaddaf al-Dam said; ‘you will see not less than 500,000 migrants coming to Europe this year’, adding alarmingly:
‘There are many terrorists among them, between 10 and 50 in every thousand. They are going all throughout Europe. Within one year, two years, you will have another September 11.’ The exile, now living in Cairo, also claims that the Islamist militants have begun conscripting sub-Saharan Africans - would-be migrants on their way to Europe - to swell their ranks. He explained: ‘The Islamist groups are bringing them into the camps and turning them into soldiers. They give them money, tell them about Allah and heaven and the many white virgins waiting for you there.’
Gulf Insider August 2015
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Affairs
‘The fuse is lit for a nuclear arms race in the Middle East’ Critics warn Arab states will not ‘sit idly by’ after Iran’s atomic accord.
T
he landmark atomic deal agreed with Iran has ‘lit the fuse’ for a nuclear arms race in the Middle East, critics have warned. Last month’s announcement was met with a profound wariness in the Arab world, where there are fears of Tehran gaining a nuclear weapon and deep skepticism that the accord will prevent that from happening.
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Critics of the U.S-led negotiations warned that the other nations in the Middle East will ‘not sit idly by’ while Iran develops its nuclear capabilities. They also point out that it has now opened the door for Russia to exert more influence in the region after it struck three major nuclear deals in the Middle East in the last six months. ‘We all know Iran’s neighbours
Affairs
will not sit idly as the world’s largest state-sponsor of terror becomes a nuclear-threshold state.’ Former U.S. Ambassador John Bolton said Iran and other nations had used civilian nuclear energy programmes for covert enrichment of uranium, which can potentially be used to make a bomb. ‘We have given Iran the path it has been seeking for almost 35 years,’ he told Fox News. There are concerns this will be fuelled by Moscow’s growing power in the region after it had sealed three nuclear deals there this year. In February, it agreed to help Cairo build its first nuclear reactor then signed a $10billion contract to construct Jordan’s first power plant. Saudi Arabia agreed a
On the nuclear issue itself, Arab countries have shown skepticism that a deal would stop Iran from building a weapon. further deal last month for Moscow to build two reactors. ‘The race is on, and the U.S. has got to get in the driver’s seat,’ an intelligence official said. ‘The administration has created a major void, allowing an opening for Russia.’ Under the accord, sanctions imposed by the United States, European Union and United Nations will be lifted in return for Iran agreeing long-term curbs on a nuclear programme that the West has suspected was aimed at creating an atomic bomb. The European Union called it a ‘sign of hope for the entire world’, while President Barack Obama insisted the deal meant ‘every pathway to a nuclear weapon is cut off’. But this was angrily rejected by Israel, with Prime Minister Benjamin Netanyahu warning
that it gave Tehran ‘a sure path’ to nuclear weapons. Saudi Arabia issued a pointed warning, saying Iran must use any economic gains from the lifting of sanctions to improve the lives of Iranians ‘rather than using them to cause turmoil in the region, a matter that will meet a decisive reaction from the nations of the region,’ in a statement carried on the state news agency. On the nuclear issue itself, Arab countries have shown skepticism that a deal would stop Iran from building a weapon. In its statement, Saudi Arabia withheld judgment on the final accord, but underlined it always wanted an agreement that guarantees Iran cannot develop a bomb, includes a strict inspection mechanism for all sites – including military ones – and ensures a swift re-imposition of sanctions if Tehran violates the deal. Saudi Arabia’s former intelligence chief, Prince Turki al-Faisal, warned earlier this year that a deal might fuel a regional arms race. In Syria, Iran’s support has ensured the survival of President Bashar Assad in a devastating civil war, now in its fifth year. Syrian rebels were alarmed, warning that now Iran will feel free to infuse even more cash and weapons to prop up Assad’s overstretched army. Yemen has been torn apart this year as Saudi Arabia, leading a coalition air campaign, has tried to help fend off rebels supported by Tehran. In Iraq, Saudi Arabia has opposed the growing power of Iran even since the 2003 ouster of Saddam Hussein and the rise of a government led by politicians close to Iran. ‘Deal or no deal, tension in the region is not going to go away,’ said Abdulkhaleq Abdullah, a professor of political science at United Arab Emirates University. ‘If Iran is bent on acting as a hegemon, as a regional power, I think we are in for some difficult times.’ Supporters of the deal see it as an opportunity to try to moderate Iran’s role in the region.
Gulf Insider August 2015
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Affairs
A Partial Geopolitical Explanation for
US Failures in Libya The story of the US military intervention in Libya is an important one with lots of questions left unanswered as to what America thought it was doing, besides leading from behind, of course.
G
unmen, on 10 October, seized Libyan Prime Minister Ali Zeidan from a hotel in central Tripoli, releasing him shortly afterwards, but making it clear that postGaddafi Libya is a failed state and that the government is incapable of taking full control over its oilfields and export terminals. While the markets have been responding lately with unfounded optimism over Libya, anyone who has been privy to the intelligence briefings and executive reports from [our] Oil & Energy Insider would know that announcements of progress emanating from the capital Tripoli are hot air. There are too many roving militias who want their piece of Libya’s fossil fuels largesse — and the government is impotent. Nothing demonstrates this more clearly than the seizure of Prime Minister Ali Zeidan on 10 October from the Corinthia hotel in central Tripoli. More to the point, the prime minister was apparently seized by militias linked to Libya’s Interior and Defense Ministries, which makes one ask whether he was kidnapped or arrested, or indeed whether it is even worth getting into the semantics. His arrest was not about oil, specifically, it was in retaliation for the 34
Gulf Insider August 2015
US special forces capture of a Libyan alQaeda suspect in Tripoli over the previous weekend. Militant groups — many of whom control various branches of the government — were angered at the US capture of Abu Anas al-Libi, wanted for the 1998 bombings of US embassies in Kenya and Tanzania in which more than 220 people were killed. Look no further than Libya’s National Congress, which was adamant that the US return the captive, which it labeled as a kidnapping and a violation of Libya’s national sovereignty. Upon his release Prime Minister Zeidan took to the international media, calling on Western powers to step in — again. In an interview with BBC Newsnight, Zeidan said the country was being used as a base to export weapons across the Sahel and that “the movement of these weapons endangers neighboring countries too, so there must be international cooperation to stop it.” Regardless, the situation should be clear even for those Libyan enthusiasts who are under the impression that this is a functioning state. Ali Zeidan’s days are numbered without another direct Western intervention. This is the same reason the oil cannot flow as planned. At we noted in a September executive
report on Libya in Oil & Energy Insider, the crisis began two years ago with the overthrow of Muammar Qaddafi, but in August things took a definitive turn for the worse, with armed groups seizing major oil export terminals and demanding autonomy for the eastern region. Now the crisis has reached the west where other militant formations ominously charged with guarding the country’s pipelines and oil fields are seeking to profit on the momentum of the strikers and protesters in the east. The interim government cannot manage this crisis. It’s already been forced to compromise, agreeing earlier in September to a 20% wage hike across the board for civil servants, and including oil security forces in this mix. At the same time, the government has issued warrants for the arrest of strike organizers in the east. While the government will not be able to enforce these warrants, the blowback for this still will be severe and will result in a violent upheaval unlike anything else in the past two years. This will reverberate throughout the already volatile Sahel region*, threatening security in Tunisia and Algeria most immediately. It is also leading to a tightening of world oil supplies.
Article provided by Oil Price.com
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Is this the end of cheap fuel in the UAE? The Ministry of Energy announced on July 22 that fuel prices in the UAE will be deregulated, reports state news agency WAM. What this means, essentially, is that the price of fuel in the UAE will now be linked to global prices. The new pricing policy will be put to action from August 1, 2015. According to WAM, the decision is to support the national economy, hoping to lower the fuel consumption in the UAE, protect the environment and preserve national resources. Suhail Al Mazroui, Minister of Energy, stated that the new pricing policy has been approved by the UAE Cabinet and a fuel price committee has been set up to review prices against international scales before they are implemented in the UAE every month. This committee will meet on the 28th of each month, where they will monitor global prices and announce the prices in the UAE for the following month. According to Reuters, domestic fuel prices in the UAE are currently among the lowest in the world because of heavy state subsidies. Allowing prices to move more freely will reduce pressure on the state budget and could be ‘one of the UAE’s biggest economic reforms in recent years’ Zawya
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Gulf Insider August 2015
Qatar ranks first among world’s richest countries Luxembourg is second, Singapore third; UAE ranks eighth globally and Kuwait is 19th Qatar ranked first among the world’s richest countries, with per capita exceeding $105,000 a year, according to a Global Finance report. Luxembourg came second, with per capita estimated at approximately $80,000 a year, followed by Singapore at approximately $61,600 a year. The UAE ranked eighth globally, with per capita slightly exceeding $49,000 a year, while Kuwait ranked 19th globally at approximately $39,900 a year, Bahrain based AlWasat News reports. However, Saudi Arabia ranked 28th globally, with per capita estimated at $32,500 a year, while Oman ranked 33rd, with per capita estimated at approximately $30,000 a year, followed by Bahrain at approximately $29,800 a year. Meanwhile, Libya preceded several large countries, despite internal conflicts and wars, ranking 69th globally before Iran, Brazil, South Africa, and Thailand, where the per capita amounted to approximately $14,500 a year. Tunisia ranked 89th globally, with per capita estimated at approximately $10,200 a year. Algeria ranked 102nd globally, with per capita estimated at approximately $7,700 a year, while Iraq ranked 104th globally at approximately $7,600 a year. Egypt ranked 109th globally, with per capita estimated at $ 6,650 a year, Jordan ranked 114th at $6,200 a year and Morocco ranked 119th globally at approximately $5,500 a year. Meanwhile, Sudan ranked 144th globally, with per capita estimated at $2,550 a year and Yemen ranked 148th globally at approximately $2,350 a year. – AME INFO
News
Number of visitors to Dubai down 46 per cent during Eid holiday More than 350,000 people left emirate during the holiday, many of them travelling to Europe The number of visitors to Dubai during the Eid al-Fitr holiday fell by 46 per cent compared with the number last year, the General Directorate of Residency and Foreigners Affairs –Dubai reveals. The Directorate’s data shows that 326,074 people visited Dubai during Eid al-Fitr between July 15 and 20, compared with 597,652 people during the Eid al-Fitr holiday in 2014. According to the data, Dubai received 166,945 visitors from other GCC countries and, in total, visitors to the emirate came from 197 different countries, reports UAEbased Aliqtisadi. On the other hand, the Directorate points out that more than 350,000 people left the emirate during Eid al-Fitr holiday this year, noting that many vacationers went to Europe to take advantage of the current weakness of the euro. It is noteworthy that the number of passenger arrivals and departures through Dubai ports, air, sea and land amounted to 680,381 passengers during this year’s Eid al-Fitr holiday. – AME INFO
Abu Dhabi’s marine tourism sector expected to grow 20 per cent The Emirate has been recording steady growth in numbers of cruise ships and tourists since 2006-2007 season. Marine tourism in Abu Dhabi is expected to grow by 20 per cent during the 20152016 season, according to the developer of ports, Abu Dhabi Ports Company. The number of marine tourists in the emirates is expected to reach 228,000 in the 2015-2016 season, compared with 190,000 visitors during the 2014-2015 season, reports UAE-based Aliqtisadi. The business report of the Abu Dhabi Ports Company reveals that marine tourism in the emirate has been recording a steady growth in the numbers of cruise ships each season, since Zayed Port officially began to receive tourist ships during the 2006-2007 season. The number of tourists coming to the emirate via the Zayed Port during the 20142015 season rose to 190,000 tourists carried by 94 ships, compared with 124,400 tourists in the previous season carried by 75 ships. Abu Dhabi Ports has allocated a new cruise terminal in Zayed Port with a handling capacity of 2,500 passengers and three ships simultaneously. The terminal is set to become operational by the end of the year. – AME INFO
Saudi king’s French Riviera holiday provokes beach protest Saudi King Salman and a 1,000-entourage arrived for holiday on the French Riviera, where over 100,000 residents have petitioned against the closure of the public beach outside his villa. The monarch’s plane landed at Nice airport and he was driven away in a 10-vehicle motorcade, the local prefecture said. The new king and his inner circle’s three-week visit at the family’s seafront villa in Vallauris, where U.S. actress Rita Hayworth celebrated her wedding to Prince Aly Khan of Pakistan in 1949, will be a boon for the local economy. But the closure of the public beach for privacy and security reasons has stirred up a local storm. A petition against the “privatisation” of the Mirandole beach below the Saudi villa gathered more than 100,000 signatures in a week. The mayor of Vallauris also wrote to President Francois Hollande to protest against unauthorised work done by the Saudis at the property, where a slab of concrete was poured directly onto the sand to install an elevator. – ARABIAN BUSINESS
Gulf Insider August 2015
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Travel
16 Travel hacks that even frequent fliers don’t know
W
e’ve put together a list of tips and tricks that will help even the most seasoned jetsetter avoid the inevitable hassles of flying.
may get you better arrival and departure times as you mix and match flights. Do your homework and check the airline websites for deals.
Understand Code Shares - Make 1. Sign up for E-Gates - Essentially an 3. sure you know how flight partnerships
express lane for the proactive, these programs designate you a low-risk traveler. As long as you’re not a convicted criminal, you’re good to go after little more than some light paperwork. Essentially allowing you to cut security lines and lengthy processing lines.
2. Book two one-way flights
Sometimes flying two different airlines and booking two one-way tickets is cheaper than booking a round-trip, plus it
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Gulf Insider August 2015
work before booking a flight on a partner airline for miles. Some partnerships will offer the same mileage; others will give you less. Others again may calculate miles based on the amount of money you paid for the ticket, rather than the distance flown.
code - Ask and thou shalt receive (when possible). Basically just requesting an upgrade when booking should get your ticket marked with a Y or B booking code, which, according to TravelNerd.com’s Amy Lee, means the flier is looking for an upgrade. In other words, should there be any open seats in the next class up from what you booked, you should get a complimentary upgrade. This works best if you’re a frequent flier and loyal to the carrier you’re booked on.
5. Pretend you’re somewhere else 4. Get upgrades by booking an when booking to score discounted - Where a ticket is purchased, economy ticket with a Y or B booking fares called its “point of sale,” can affect
Travel
no, refreshing a window 147,554 times will not make a flight cheaper, but it may actually make the price go up as it changes based on demand. While most people like to get around this by using incognito windows, clearing your search history and cookies is a safer bet.
7. Know that you have a 24-hour window to get a refund - Even
nonrefundable flights generally have a 24-hour window during which you can cancel them without having to pay a fee. In other words, pull the trigger and book a flight, then keep tracking it for another day to see if a better rate pops up, in which case cancel and rebook.
8. Fly on a Boeing 767
- If you’re deciding between similar flights and one is on a Boeing 767, take that one, as the aircraft has fewer of the dreaded middle seats than other planes. If you can’t get on a Boeing 767, check out seatguru. com, which has up-to-date seating charts for every single flight and gives you the inside scoop on whether a row doesn’t recline, whether a seat is too close to the bathroom, or whether there’s any extra legroom to be had.
9. Download your airline’s app - Most its price thanks to something called “regional pricing.” Basically, the price of a ticket will be lower in a country with a lower standard of living or when travel companies are trying to break into a new country, according to travel industry analyst Henry Harteveldt, who says you can find different ticket prices for the same flight on Expedia.com and Expedia.co.jp, the Japanese version, as well as for internal foreign flights on an international carrier’s website by changing your “residence” to the airline’s home country. The only thing to watch out for is that you’ll be seeing prices in local currency, so make sure to do the math and convert them.
6. Clear those cookies - A little thing
called “dynamic pricing” means that
airlines have invested some significant cash into developing apps that provide you with real-time updates on gate changes or delays, so you can hit up one of those Xpress Spas without worrying about missing vital information. Even better, the app also allows for paperless boarding at most airports.
10. Pack a squishy carry-on - Take a
duffel or some sort of squishy bag as your carry-on. Having a malleable bag that can be smushed into the overhead bin means it is less likely to be taken from you at the gate.
11. See extra cities free - Why not add
a free stopover to a flight you’ve already paid for? Some airlines — and you’ll have
to check first — offer free stopovers, generally in their hub city, meaning you can visit an extra destination or two without purchasing any extra tickets.
12. Check your credit cards for perks
- You might be entitled to perks without knowing it. From covering your insurance when renting a car to hotel-room upgrades and access to airline lounges, many credit cards you may already have come with special advantages and freebies.
13. Get into the airport lounge, even if your ticket says economy - Most people don’t know that airport lounges often sell day passes, allowing you to pay to access them. While they are pricey, purchasing them in advance online often gets you steep discounts. You can also get a Priority Pass ($99 to $399 a year), which gives you access to 700 airport lounges around the world.
14. Save money staying connected
Both in-flight internet fees and roaming charges are exorbitant. Bypass them by getting a subscription to Boingo, a Wi-Fi hotspot provider that costs $59 a month for worldwide coverage. If you have an American Express Platinum Card you can get a free Boingo subscription.
15. Get food faster by ordering a special meal - This involves some
advanced planning and probably not-soregrettably forgoing the meal everyone else is getting, but by requesting a special meal (vegetarian, for example) you will usually get served before everyone else, and can go to sleep sooner, without waiting for the full dinner service. Plus, rumor has it that those special meals are better anyway.
16. Make free(ish) calls abroad
- You can make free calls with Skype or Google Voice using its app or the Hangout app. All you need is some Wi-Fi, so buy a local SIM. Gulf Insider August 2015
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Travel
Muslims holy night Here’s what the holiest place in Islam looks like on the holiest night of the year for Muslims.
T
he photos taken from the air by Ali Al Qarni of Reuters, show “Muslim worshippers praying at the Grand mosque, the holiest place in Islam, in the holy city of Mecca during Ramadan on July 14, 2015, on Lailat al-Qadr, or Night of Power, on which the Koran was revealed to Prophet Muhammad by Allah.”
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Travel
Private jets Uber-style phone app allows you to fly on private jets from only $250
U
ber-style app is bringing private jet travel within the reach of more people. Thousands of jets that stand idle when their superrich owners don’t need them are now available to hire via smartphone apps. Passengers can even undercut the cost of commercial fares by purchasing seats on ‘empty legs’ – when the jets are being relocated from one country to another. It means they can enjoy the comfort, speed and privacy of an executive jet for just a fraction of the cost of actually owning one. Thanks to online aviation company Victor, a reporter for the Daily Mail was able to hitch a ride on the same $30 million executive jet used by pop superstar Beyoncé. This opportunity is currently being offered by three companies; Victor, JetSmarter, and Ubair, whose apps show which jets are located where, and how much it costs to hire the whole plane or buy a single ticket. You can book and
board with just a few swipes of your smartphone. Clive Jackson, the British tech entrepreneur who founded Victor, said: ‘This is aimed at people who want to fly out, seal a deal and be home in time for dinner; a couple celebrating a wedding anniversary who want to do something different; or two families who just want to get away on holiday together without any of the stresses. We want people to check out Victor and say, “Wow, I can do that.” ’ And it seems they now can. On the ‘empty leg’ section of the Victor website, a flight from Luton to Cannes costs as little as £605 per person, based on seven people flying. There are even better bargains to be had too – not least during the school holidays when commercial carriers hike their fares, but private jets do not. A return flight in August from Cannes on the French Riveria to Stapleford, a small airport just outside of London, costs just £148 per person based on eight people flying. And a
flight from Luton, just north of London, to Amsterdam on board a Legacy 600 is £397 per person based on 12 people sharing. As the Daily Mail correspondent said of her flight; “The flight to Nice on the Cote d’Azur is one hour 50 minutes of bliss punctuated by champagne and lunch of heritage tomatoes and mozzarella, poached salmon with asparagus mousse, and a white chocolate Eton Mess. There’s wi-fi, a satellite phone, individual entertainment systems and a plush bathroom on board. In Nice, two transfer vehicles with smokey windows position themselves before the aircraft has even come to a halt. My luggage gets off the plane at the same time as I do, and arrival formalities comprise a quick check that the passenger headcount tallies with details on the manifest. It’s no more than two minutes from disembarking until I climb into a taxi.”
For more information, visit flyvictor.com or download its app.
Gulf Insider August 2015
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Life
Dubai’s $20 million Home Mystery British businessman purchases Dubai’s most expensive property.
A
British businessman has splashed out a record-breaking $2o million for a luxury villa on Dubai’s Palm Jumeirah island. The unnamed millionaire, who is said to be of Indian origin, purchased the custom-designed home on the artificial archipelago as a long term investment. The six bedroom, seven bathroom 13,000 square feet property is called M State and includes a 167 foot private beach, a 55 foot infinity swimming pool and a cinema room. Despite the hefty price tag, which is understood to make it the emirate’s most expensive property, the new owner well have bagged himself a bargain as it was originally listed for $26 million. The luxury property, which boasts 42
Gulf Insider August 2015
seven star facilities, will be handed over to its new owner in December this year. The architects on the project are the LW Design Group, working on behalf of developer AA Real Estate and Development. The finishing and interior design is being delivered by UAE-based furniture design practice Finasi. At the sales launch in April, the developers said no expense had been spared on the design. Zishan Khan, director of real estate firm Terra Casa, said: ‘We are seeing a trend of international investors buying properties for long term investment or a second home.’ ‘High-net-worth individuals from around the world are considering Dubai as a safe bet in terms of real estate and
Life
more and more people are choosing to become property owners,’ he added. The news comes just one day after the United Arab Emirates’ Minister of Cabinet Affairs announced plans to add the world’s first office building made using three-dimensional printer technology to its collection of eyecatching buildings. Dubai’s one-storey prototype building, with about 2,000 square feet of floor space, will be printed layer-by-layer using a 20-foot tall printer, Mohamed Al Gergawi revealed. It will then be assembled on site
within a few weeks. Interior furniture and structural components will also be built through 3D printing with reinforced concrete, gypsum reinforced with glass fibre and plastic, al-Gergawi said. The project is a tie-up between Dubai and Winsun, a Chinese company that has been pioneering the use of 3D printers to build houses. Gergawi cited studies estimating the technique could cut building time by 5070 per cent and labour costs by 50-80 per cent, adding it is part of a broader effort by the seven-state federation to embrace cutting-edge technology and make it a global hub for innovation. ‘This building will be a testimony to the efficiency and creativity of 3-D printing technology, which we believe will play a major role in reshaping construction and design sectors,’ he said in a statement.
Gulf Insider August 2015
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Life
9 brilliant business books
you can read in an afternoon Here’s some of the best business books ever written that you can start and finish in an afternoon.
‘Who Moved My Cheese?’ by Spencer Johnson “Who Moved My Cheese?” was an instant hit when it came out in 1998 and has continued to be a bestseller. Johnson wrote the book as the internet started becoming more accessible, causing companies around the world to adapt and learn new ways of doing business. Its lessons on how to let go of a fear of change are timeless.
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Gulf Insider August 2015
‘As a Man Thinketh’ by James Allen This short classic should be on every entrepreneur’s bookshelf. Published in 1902, “As a Man Thinketh” contains wisdom that transcends time. Author and coach Tony Robbins says he often recommends it to people “because it’s so small and easy to read and so profound.” He’s read it at least a dozen times. In the book, Allen emphasizes that your life is completely under your control rather than in the hands of fate, luck, or external circumstances. To be successful, he says you must first be successful in your mind.
‘How to Lie with Statistics’ by Darrell Huff If “How to Lie with Statistics” worked for Bill Gates, it could work for you. The business magnate and bookworm included Huff’s 150-page book about how statistics can be deceptive on his list of summer must-reads. Although it was written in 1954, Gates promises it doesn’t feel dated. Rather, it will make you feel smarter and more skeptical of the things you read.
Life
‘The Greatest Salesman in the World’ by Og Mandino
‘The One Minute Manager’ by Kenneth Blanchard and Spencer Johnson
‘The Investment Answer’ by Daniel C. Goldie and Gordon S. Murray
To be great in business, you need to be a great salesman. If you can’t sell your ideas, product, or services, you won’t make it. In “The Greatest Salesman in the World,” which has been around since 1968, Mandino offers several simple, yet powerful, truths in a very clear and compelling style.
Blanchard and Johnson say managers can explain a task to employees within a minute, as well as take just 60 seconds to offer praise or criticism. In addition to describing the “one-minute manager,” the authors offer advice about lowering barriers between managers and their employees and how to communicate as directly as possible. A new and updated edition of this business bestseller, “The New One Minute Manager,” came out in May.
Goldie and Murray’s guide to investing, “The Investment Answer,” is under 100 pages and focuses on five decisions every investor has to make. These include whether to invest alone or with a professional; how to allocate among stocks, bonds, and cash; and when to sell or buy assets. Murray, a Wall Street veteran, and Goldie, a financial adviser, keep their guide brief and jargonfree for any investor — experienced, beginner, and everyone in between.
‘The Richest Man in Babylon’ by George S. Clason
‘Marketing: A Love Story’ by Bernadette Jiwa
Clason’s celebrated bestseller will teach you everything you need to know about personal finance through a compelling series of parables that take place in the historical city of Babylon. “The Richest Man in Babylon” teaches you the principles of paying yourself first, living below your means, and investing in yourself, among other timeless financial lessons.
Jiwa compiles several popular blog posts in her book about great marketing in a digital age. “Marketing: A Love Story” encourages a different approach to business and entrepreneurship: to stop selling things and start telling stories. In a day when consumers are much more aware about how they’re being marketed to, it is becoming more important to see through the eyes of customers and convey exactly how they are going to feel if they buy into your product or idea.
‘Rich Habits: The Daily Success Habits of Wealthy Individuals’ by Thomas Corley To be successful in business, it’s important to establish good personal-finance habits. “Rich Habits” author Thomas Corley spent five years studying the lives of both rich people and poor people, and managed to segment out what he calls “rich habits” and “poverty habits,” meaning the tendencies of those who fit in each group. His 94-page book outlines these findings and shows how even the simplest of habits, such as regular exercise or calling friends on their birthdays, could increase your chances of attaining wealth. Gulf Insider August 2015
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Life
The first Bahraini to
climb Kilimanjaro
D
onia, a 30 year old Bahraini Adventurer set off with his friend on May 26th, 2015 to climb Mt Kilimanjaro. The climb was successful and Ammr reached the summit on June 01st, 2015 at 07:48 am. Overall, the trek took a total of 7 days / 6 nights, which included approximately 45 hours of trekking 70 kilometers from start to finish. The Mountain stands at 5,895 meters and is the world’s tallest freestanding mountain and is also one of the world’s Seven Summits. It is also the highest point on the African continent, dubbed as the Roof of Africa. Ammr carefully chose to climb the mountain through Rongai Route, a camping route, and one of the 5 available routes to Uhuru Peak – the summit. It is the only route to breach the mountain from the North near Kenya and less popular due to its remoteness. “I am very happy and proud having reached the top; it’s another achievement for myself and a milestone adventure to mark more to come, Insha’a Allah. The climb was tough but thankfully we made
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Gulf Insider August 2015
it without any incidents or sickness. I cannot describe the overwhelming sensation once the summit is reached. I broke into tears upon summiting, just as I have done previously on other peaks. Those were tears of joy, sadness, confusion and relief but also of selfachievement mixed with an extreme sense of fulfillment. Both the emotional and physical agony is immense but well worth the effort once the summit is reached. It seems therapeutic in a way and keeps me going.” “As a proud Bahraini, I raised the flag on top of Kilimanjaro and I hope to raise a few more flags on a number of peaks worldwide,” he said. “I only hope to join other internationally achieving individuals such as His Highness Shaikh Nasser bin Hamad Al-Khalifa and his team who continue to provide a positive image of Bahrianis worldwide,” added Mr. Donia. Mr. Donia is not the first Bahraini to have climbed Mt Kilimanjaro. Some of the most inspiring no doubt are Parkinson’s patient Ahmed Jaffar, Shaikha Noora AlKhalifa and Amal Al-Saffar to name a few.
Ammr Donia discovered his passion for travel and adventure a few years ago. This has led him to quit his career as a Property Surveyor to establish his own adventure company to encourage travel off the beaten track. Ammr ended up backpacking continuously for 2 years and visited over 45 countries to date. He will attempt to visit 50 countries this year working towards his main goal of reaching 100 countries. He is also adamant to climb another mountain in the near future to break his previous altitude record on Kilimanjaro and cross 6,000 meters. Ammr previously climbed other mountains in the Himalayan region of Nepal including Everest Base Camp, Annapurna Base Camp, Kalapatar Peak and Gokyo Ri.
For more information you may contact Ammr Donia directly via whatsapp +97334335528 or email him at ammrdonia@gmail.com. You can also follow his adventures on Instagram and Facebook at Travel Duck Adventures
Style
PANARAI 10 interesting facts about this iconic luxury watch brand.
1 2 3 4
It’s an Italian brand, established in 1860, but the watches are manufactured in Switzerland Nowadays Panarai use their own in-house movements. Once they used to have Rolex movements
The company was struggling until bought by the Richemont Group in the 1990s who successfully turned Panarai into a sought after luxury brand. Panrai specialized in making divers watches for the Italian Navy in World War 2
5 6 7
Panarai.
The brand is particularly known for its big watch faces (44 – 47mm) and distinctive locking crown guards Panarai created a ‘strap culture’. Vintage leather straps are particularly fashionable on a
Panarai famous model names include Luminor, Marina, Militaire, Black Seal, 1950, Submersible (deep sea divers watch), Radiomir (traditional – no crown lock)
8
are numbered. This helps keep prices high.
9 10
Panarai is considered the coolest watch by some. Those who don’t like the brand often describe it, and those who were it, as ‘brash’. Prices start from around $6,000 for a base model, and from there only go upwards and upwards.
They make strictly limited quantities of each model type (typically 500 – 1,000), and they Gulf Insider August 2015
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Motors
On board a 196Ft mega yacht
I
n the battle to be the most extravagant mega yacht on the seas, it takes a lot to really impress. While helipads, waterslides, and movie theatres are commonplace additions to the yachts of the super wealthy, a stylish Italian vessel is making waves for being the first to feature a floating drivein garage. J’ade, by Ferretti group company CRN, features a hydraulic-operated hatch which can store an eight-metre speedboat without the use of a tender lift to hoist it out of the water. The internal basin, which holds 18,000 litres of water, floods and empties in just three minutes, enabling the boat (a 27ft Riva Iseo) to enter the yacht without using a crane. When the speedboat is not being stored inside, the basin can also be utilised as an indoor ocean pool, accessible from the lower-deck terrace. Completed last year, the 60-metre yacht was the star attraction at last month’s Monaco Yacht Show, where it was a finalist for the Best Interior award, only to miss out on the prize to the brandnew Perini Navi motor yacht Grace E. J’ade made its debut at the annual yacht
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Gulf Insider August 2015
Motors
show last year, and also won the World Yacht Trophy at the 2013 International Boat Show. The privately-owned yacht was created by Studio Zuccon International Project, and is designed to feel ‘at one with the sea’. The 196-foot vessel can comfortable accommodate 10 guests in four cabins and the owner suite, and 13 crew members.
The 196-foot vessel can comfortable accommodate 10 guests in four cabins and the owner suite, and 13 crew members.
Aside from the impressive ‘garage’, J’ade also features a gymnasium, hammam room and aquarium. Across the four decks, materials for the interiors are Canaletto walnut and polished rosewood. The hardwood floors are made of wide Afromosia strips and the cabins and owner suite are fitted with white Tai Ping carpets. There are jade green accents throughout the interior. The centrepiece of the yacht is the central stairwell with a crystal lift. A white Yamaha piano sits in the living area. ‘CRN is experimenting,’ Luca Boldrini, CRN’s sales director told Boat International. ‘We’re experimenting in design, in sizes, and in features. Each of the yachts in build has special features in development, and we hope the next step will be to mix and match all these new features in one or two new concepts so future owners can not only have a beautiful, seaworthy and safe vessel, but they can have special features that nobody else has. ‘These will not be special features that are just an experiment, but features clients can touch and feel in other vessels under construction or already floating.’ Images:CRN Gulf Insider August 2015
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Motors
LONDON –
The Arabs are in town!
E
very year Rich Gulfies escape the heat of the Gulf and head to their favorite cooler destinations for the summer, and London is historically amongst the favorites. They bring their favorite cars with them which always make for an interesting sight. Cars so far spotted this year include an S - Class Mercedes covered with Swarovski crystals, a Rolls Royce from Dubai, and a silver Porsche 918 Spyder with Saudi Arabian license plates. Knightsbridge has become known in recent years for Arab playboys speeding around in cars worth hundreds of thousands of pounds.
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Gulf Insider August 2015
Motors
Images: swns.com Amer Ghazzal/REX Shutterstock Gulf Insider August 2015
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Art
A masterpiece of
Islamic architecture
Breathtaking photos capture the beauty of the largest mosque in the Middle East
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4
00,000 worshipers make the pilgrimage to the Sheikh Zayed Grand Mosque in Abu Dhabi during Eid, and British photographer Julian John visits as frequently as possible to snap photographs of what he believes is ‘the jewel in the United Arab Emirates’ crown.’ Julian has been living in the UAE capital for the last four years and is planning an exhibition of his photos. ‘It has been described as a masterpiece of Islamic architecture and is truly a modern wonder of the world. ‘It is beautiful and serene and the attention to detail is breathtaking with craftsmen from all around the world instrumental in making it so spectacular.’
The courtyard features the largest marble mosaic in the world at 180,000 square feet. The four 350-ft tall minarets can be seen across the Abu Dhabi skyline. Julian uses a Nikon D800 camera with Nikon 24-70mm and the Tamron 70-200mm lenses. He was inspired to take up photography four years ago when he moved to the Middle East. Julian said: ‘As long as I live in Abu Dhabi, I will always visit the Grand Mosque and continue to photograph it.’ The mosque took almost 10 years to build. Work started in 1996 and it was finally completed in 2007.
Art
Images: Mercury Press & Media Ltd
Gulf Insider August 2015
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Art
Bahrain’s Photo History Each month Gulf Insider will publish photos showing Bahrain in past times. To view many more visit Gulf-Insider.com and LIKE Gulf Insider on Facebook to receive new (er‌ old) Bahrain photos almost daily.
Ruler of Bahrain Shaikh Salman bin Hamad Al Khalifa and his son, Shaikh Isa, in 1955
Ruler of Bahrain from 1942-1961 Shaikh Salman bin Hamad Al Khalifa
Shaikh Salman, ruler of Bahrain (19421961) with sons Shaikh Isa (ruler 1961-1999), and Shaikh Khalifa (Prime Minister 1970-today) 54
Gulf Insider August 2015
Art
Customs building and the main seaport in Manama in the 1920s The old Customs House in Manama, around 1940
Gudaibiya Palace, circa 1940s
Manama Fort - date unknown
Shaikh Isa bin Ali Al Khalifa (r) in his house in Muharraq in 1911 Gulf Insider August 2015
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Art
Faiza Saeed
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ahrain’s first mosaic artist, Faiza Saeed used to experiment with various art forms until she discovered the craft of mosaic design – while visiting museums in Britain, Italy, and Spain. Her passion for this unique art form deepened when she met and learned from legendary Emma Biggs in London. The newly discovered art made her realise that one doesn’t need to be an excellent painter or illustrator in order to be an artist. And now, she’s on a mission to beautify her native Bahrain with pops of colour by selling her work and running classes.
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Art
Gulf Insider August 2015
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Last Word
20 things
I’ve learned in 9 years of simplifying my life By Leo Babauta ‘A man is rich in proportion to the number of things which he can afford to let alone.’ – Henry David Thoreau
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or almost 9 years now, I’ve been learning to live a simple life. A life uncluttered by most of the things people fill their lives with, and left with space for what really matters. That doesn’t mean I have zero clutter and zero complications: I’m a part of the world, not a secluded monk. I have possessions, electronics, distractions, and occasional busy-ness. I just have reduced it to make space. Today I’ve been reflecting on this simple life, and thought I’d share some of those reflections: 1. Decluttering your home and work space can lead to a less cluttered mind. These visual distractions pull on us in more ways than we realize. 2. A quiet unrushed morning is a thing to treasure. I wake early so that I have some quiet time. 3. You can’t have a simple life if you’re unwilling to let go of what you’re used to. 4. Letting go of TV was one of the best things I did early on — no more constant television in my home, no more ads for crappy things we don’t need.
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5. Shopping isn’t therapy. It’s a waste of time and money. 6. If you’re filling your life with distractions, it’s probably because you’re afraid of what life would be like without constant Internet, social media, news, TV, games, snacks. 7. Simple, whole, healthy food is not only much healthier than junk food: it’s a pleasure. 8. You have to make time for what’s important: time with your kids, time with your spouse, time for creating, time for exercise. Push everything else aside to make time. 9. Over-committing is the biggest sin against simple living most people make. I painfully cut out a huge number of commitments to simplify my life, and I’m glad I did. 10. It’s easy to fill up our lives because there are so many things that sound amazing. We hear about what others are doing and instantly want to add that to our lives. But it’s harder to remember that by adding so many things to our lives, we are subtracting space. 11. By saying no to things, I’m saying yes
to what’s truly important to me. 12. Distractions are both more tempting and more destructive than we realize. 13. Focus, priorities and effectiveness are very important. So is a nice walk with a loved one. 14. If you can’t learn to sit in a quiet room alone with no distractions, you won’t be able to simplify. 15. Buying things doesn’t solve our problems. Neither does food. 16. It’s not how few things we own that matters. It’s whether we make those things count. 17. It’s better to have six books on your shelf that you’re really going to read than a hundred you never get around to. 18. When you travel lightly, you’re freer, less burdened, less tired. This applies to life, not just travel. 19. Your attention is your most valuable possession. Give it as a gift to the people you love most, not a bunch of clowns on the Internet. Give it to the work that matters most, not distractions. 20. Sometimes distractions are nice.
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