The multi-award winning Arabian magazine
The Arabian Review
Issue 115
Also inside:
Travel Bans Bahrain’s New Visa Policy Banks; Greedier than Ever?
INDIA & BAHRAIN
Dr Mohan Kumar, Mohammed Dadabhai, and Vijay Boloor discuss business and Bahrain/Indian relations. Bahrain BD2
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Gulf Financial Insider
Cover Story
15
INDIA & BAHRAIN Special Feature
20
24 BAHRAIN
Travel Ban: Tackling Legal Loopholes
BAHRAIN
New Visa Policy
DUBAI
Mall of the World
ON RAMADAN
Feature by Ramzy Baroud
BANKS
More Corrupt than Ever
UK
London’s Overseas Buyers
BAHRAIN
Office Market
20 22 24 28 34 39 40
28
41 44 46 48 52 55 56
MIDDLE EAST
eGovernment Index
LIFESTYLE
The Lost Wonders of Afghanistan
32
38
CONTENTS August 2014
PROFILE
Abdulla Al-Haza’a
CAR REVIEW Alfa Romeo 4C
MOTOR FEATURE
The Smart Car of the Seas
LUXURY
The Top 10 Airlines in the World
ART
Zena Assi
56
48
The Arabian Review
COMMENT...
Publisher & Editor in Chief - Nicholas Cooksey Admin & Finance - Nikesh Pola Business Development - Redia Castillo
There may be trouble ahead…
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Russians aren’t exactly known for having a great sense of humor. But the language is full of bizarre, often hilarious expressions like “perebrasyvanie kakashkami”. Literally translated this means “throwing s**t”. And it applies right about now—when a bunch of people is standing around blaming one another for something that has gone heinously wrong.
Photography - Shareef Panhatt - Redia Castillo Contributors - Melissa Nazareth - Hugh Haskell-Thomas - Nicholas Cortes - Neal Jones - Agnieszka Piechoska - Ramzy Baroud - Camilla Swift * - Michael Hanlon * - Alex Brummer - Alex Spillius *
The MH17 disaster is so bad that it’s made people forget about the roving army of fanatics that has taken over half of Iraq and parts of Syria in their quest to build a global caliphate. This is much bigger. And there’s so much pent up tension between rising powers right now, there’s serious risk of it turning into a much greater conflict. It seems ironic that the world was in a similar situation exactly a hundred years ago. Tensions in Europe and around the world were at boiling point. Similar conditions exist today. Just like a century ago when waning British power invited a power struggle among rising nations, waning US power is creating conflict with Russia, China, etc.
Distribution Executives - Mohammed Yousif - Muhammed Shareef P - Rafnaj K P
A century ago, they settled it on the battlefield. Everyone knew war would eventually come to Europe. But the great miscalculation was they presumed it would be just another 19th century limited war. It was anything but. Published by:
This time around, the way we conduct war is different. Similarly, leaders are miscalculating, thinking that they can scare their opponents with warships and fighter jets. But modern warfare isn’t fought with boots on the ground. In 2014, cyberwar and economic war looms.
Media P.O. Box 60357, Kingdom of Bahrain Tel: +973 1700 4575 Fax: +973 1772 1722
And this type of war is something that will affect literally every person who is plugged in to the global financial system.
Printed at Awal Press, Kingdom of Bahrain. Distribution Bahrain: Al Hilal Corporation, Tel. +973 1748 0800 UAE: Jashanmals, Tel. +971 4341 9757
The multi-award winning Arabian magazine
The Arabian Review
Issue 115
Also inside:
Travel Bans Bahrain’s New Visa Policy Banks; Greedier than Ever?
Arabia’s most intelligent magazine Established since 2004, Gulf Insider is the multi award winning Arabian business and current affairs magazine that also covers property and expat news, interviews, car reviews, travel features, even a bit of art and fashion. The monthly print edition of Gulf Insider is distributed to Bahrain’s highest spending consumers and decision makers. There’s also limited distribution in other GCC states via airline lounges, duty free, BAHRAIN LEGAL ARAMCO in the KSA, and other strategic locations. Gulf Insider now also includes: Easy to navigate website that offers online access to the magazine and much, much more. Access to valuable GCC news reported by the international media thanks to a free weekly email service for readers. Visit www.Gulf-Insider.com
INDIA & BAHRAIN
Mohan Kumar, Mohamed Dadabhai, and Vijay Baloor discuss business and Bahrain/Indian relations. Bahrain BD2
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Registered as Gulf Financial Insider with Ministry of Information approval no. TFI-431©. No part of this publication may be reproduced in any manner without the written permission of the publisher. All Rights Reserved. Views expressed in this magazine are not necessarily those of the publisher. *Articles by these correspondents are the copyright of Telegraph Media Group, 111 Buckingham Palace Road, London SW1W 0DT, England.
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Inbox Readers’ Letter
Send your views to info@Gulf-Insider.com The multi-award winning Arabian magazine
The Arabian Review
Issue 114
Understanding Legal Industry I must say your “Bahrain Legal” special feature was spot on. It was really refreshing to read the interviews with some of the best in the field, which gave me a very interesting insight into the legal industry in Bahrain. I look forward to your next issue! – Amit
EXCLUSIVE INTERVIEW
Torsten Müller-Ötvös CEO, ROLLS-ROYCE MOTOR CARS
Words of Appreciation
FEATURE SPECIAL
BAHRAIN LEGAL
A special guide to some of Bahrain’s top legal firms (and what they specialise in) Bahrain BD2
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Issue 113
MIDDLE EAST Travel trends
GCC
Investor’s risk appetite increasing
MBA
Is it worth the time and money?
Status Quo and Emerging Trends
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Issue 112
MIDDLE EAST Leading hotels review
Travelling is my true passion and I find GI’s travel stories especially inspiring. One of my favourite destinations is Hong Kong and your feature “Hong Kong: Live it. Love it!” perfectly recreated the spirit of this vibrant city. Reading it made me want to go back there soon! Hanan
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Doha’s new mega airport
PRIVATEPUBLIC SECTOR TANGO What it means
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Euromoney Conference examines sukuk
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Your review on the global wealth trends in 2014 (based on BCG’s report) reminded me of another report that focused on the same subject but from a tad different perspective. “Working for the Few” was released by Oxfam International earlier this year and provided quite shocking statistics on what it calls the “growing tide of inequality.” According to the report, almost half of the world’s wealth – amounting to USD110 trillion – is now owned by just one per cent of the population, while the bottom half of the world’s population owns the same as the richest 85 people in the world. Call me naïve, but I still wonder how this is even possible. – Harry S.
Bahrain Grand Prix through the lens
LATEST CAR REVIEWS AND NEWS
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Tide of Inequality
Travel Inspirations
MAHER SALMAN AL MUSALLLAM KSA SR20
By all means, I wouldn’t call myself a car enthusiast but I honestly enjoyed reading your interview with Torsten Müller-Ötvös. It was the way it was written that made it so engaging, no matter what the topic. Keep up the good work, Gulf Insider! – Ioana
BAHRAIN’S TELECOM MARKET
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An Engaging Read
In reference to your feature on banning expats from driving in Bahrain, I would like to thank the Constitutional Court for making the right final decision – which was issued shortly after your article was published – and deeming the proposed law unconstitutional. Let’s just hope that in the future Bahrain’s MPs pay more attention to the facts before jumping to conclusions. –
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Gulf Round Up News
GULF ROUNDUP NEWS AROUND THE GCC AND BEYOND
Batelco Hosts Ghabga for its Business Customers Batelco’s Enterprise and Government Division welcomed over 300 of its business customers to a Ramadan Ghabga banquet at the Gulf Hotel’s Gulf Convention Centre, on July 6, 2014. The event was attended by Batelco Bahrain Chief Executive Rashid Abdulla and Batelco Enterprise General Manager Adel Daylami and a number of Batelco senior management. “As Bahrain’s leading provider of business oriented communications s o l u t i o n s , Batelco is always seeking to forge closer links with its business customers and such events Batelco Senior Manager Enterprise provide the ideal Products & Services Hussain setting,” said Mr Mohammed, left, presents a prize at Abdulla. Batelco’s Ghabga to business customers
Oman Air Appoints New COO Turkish Airlines Voted the Best in Europe Turkish Airlines (TK) has been chosen “Best Airline in Europe” – the fourth year running – in in 2014 Skytrax World Airline Awards. The airline was also awarded “Best Airline in Southern Europe”, “Best Business Class Onboard Catering”, and “Best Business Class Lounge Dining”. Skytrax had become the world leader in ranking aviation offers, with no external sponsorship, advertising, or influence. This year’s awards were based on the results of over 18 million passenger surveys, with more than 105 nationalities participating, covering 245 airlines. TK has seen passenger numbers rise by 16.8 per cent so far in 2014 compared to the same period last year. 10
Gulf Insider August 2014
Oman Air has appointed Abdulrahaman Al-Busaidy to the position of Chief Operating Officer. The airline’s Commercial, Network Planning, and Strategy and Business Development divisions will report to Mr Al Busaidy, who took up his post on July 1, 2014. The appointment comes at a critical time for Oman Air, as it prepares for its next phase of rapid expansion, which will begin with the arrival of the first of the 20 new aircrafts later this year.
News Gulf Round Up
TRA’s Win at Asia Communications Award Ceremony Telecommunications Regulatory Authority (TRA) has been announced the winner in the “Best Regulatory Initiative” category at the 2014 Asia Communications Award Ceremony, held in Singapore on the June 19th. TRA Bahrain competed against the regulators from across the Asian continent including Japan, Thailand, Hong Kong, Malaysia, Singapore, and Australia. “This is a testimony of international recognition for the Authority’s achievements in the Kingdom,” said Director of Human Resources & Finance Mr Faisal Al Jalahma. The Asia Communication Awards recognise outstanding performance and innovation from the leading carriers, service providers, and vendors based in Asia. The winners are determined based on written submissions and the deliberations of an impartial expert panel of judges as well as industrial online voting.
Elite Group Welcomes New GM Elite Hospitality group has appointed new General Manager Mr Aditya Mata, who commenced his new responsibility in July 2014 to oversee both The Elite Seef Residence & Hotel and The Elite Tower Residences in Bahrain. An Oberoi School of Hotel Management graduate, Mr. Mata brings over 20 years of experience in the hospitality industry including such brands as The Oberoi Hotels Group and Crowne Plaza, InterContinental, and Banyan Tree, amongst others.
Qatar World Cup 2022 Sony Launches Limited Loss Would Cost Edition Waterproof $16bn Walkman® NWZ-W273S Qatar would
Sony Middle East and Africa FZE announced the launch of the limited edition waterproof and wireless Walkman® NWZW273S, on June 28, 2014. Available in premium black and premium red, Sony’s latest music player features wireless design and enables syncing music with Windows and iTunes with “drag and drop” function. It is available in 4GB capacity, with threeminutes of charge time, up to 60 minutes of non-stop music playback, and up to eight hours of audio playback on a full charge of 1.5 hours. The new NWZ-W273S is currently available at Ashrafs showrooms and other leading electronics retailers in Bahrain.
be facing a loss to its economy of around $16bn if FIFA decided to strip the country of the 2022 World Cup as a result of recent bribery allegations, according to a new report by the FIFA ethics committee led by US lawyer Michael Garcia. Research published by Bank of America Merrill Lynch (BofA Merril Lynch) estimates that if Qatar is stripped of the World Cup, direct capital expenditure (related to building stadiums and hotels) will fall by $16bn, which is equivalent to 7.5 per cent of GDP, or 1-1.5 per cent in each year in the run-up to 2022. – ARABIAN BUSINESS Gulf Insider August 2014
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Gulf Round Up News
Bahrain Foreign Investment Tops $989 Million
Euro Motors Bags Jaguar Land Rover Marketing Award Euro Motors was granted the Jaguar Land Rover Experience Marketing Award as the most proactive and successful marketing department in the MENA region, during the 3rd Annual Jaguar Land Rover (JLR) MENA Awards 2013/2014 ceremony held at the Waldorf Astoria Hotel in Dubai on the June 5, 2014. Jaguar Land Rover MENA Marketing Director Ms Hannah Naji presented the JLR Experience Award to Euro Motors Jaguar Land Rover Marketing Manager Ms Hannane Laidouni. Euro Motors also received a Certificate of Appreciation for breaking their own Land Rover Sales record last year, selling 334 vehicles in 2013. Commenting on these achievements, Euro Motors Jaguar Land Rover General Manager Mr Anthony Raymond said: “Being recognized across the MENA region means that we have to commit ourselves even more so to outperform our own targets and it is indeed a testament to our dedication to both brands”.
Saudi Businesses Given Expat Visas to Hire Ex-criminals Saudi businesses will be given two additional expat work visas if they hire a former prisoner, according to Arab News. The deal is expected to help hundreds of released convicts obtain work, which is usually difficult. “This program encourages the private sector to employ these people to integrate them into society since many employers refuse to hire released prisoners,” said Khaled Al Sebti, executive director of the National Commission for the Care of Inmates, Released Prisoners and Their Families. The commission run work programs inside prisons to help train or re-train them and prepare them for employment after their sentence. – ARABIAN BUSINESS
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Gulf Insider August 2014
Bahrain’s foreign direct investment topped $989 million last year, an increase of 11 per cent on the previous year and outpacing foreign FDI flows of 9 per cent, a report has found. As well, the United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2014 said that FDI into Bahrain in 2012 was $891m, a 14 per cent increase on 2011, Gulf Daily News reported. Experts said if a similar growth trend were to continue this year, the inflows would cross the $1 billion mark. Last year was the second in a row featuring double digit growth in FDI for the kingdom, since the global economic downturn. – ARABIAN BUSINESS
Qatar to Raise Foreign Ownership Cap to 49% Qatar is set to almost double its foreign ownership limit to 49 per cent in a move that could bolster investment in the Gulf state, it was reported. In a decision approved by Cabinet, non-Qatari investors may have a ratio of not more than 49 per cent of the capital of sharing companies listed on the Qatar Stock Exchange, up from 25 per cent. The Ministry of Economy and Commerce said this could also be further increased subject to Cabinet approval on recommendation by the Minister of Economy and Commerce, Gulf Times reported. It said Gulf Co-operation Council (GCC) citizens will be treated like Qatari nationals in owning shares of companies listed on the Qatar Stock Exchange (QSE). Qatar was last month promoted to emerging market status by the MSCI. – ARABIAN BUSINESS
News Gulf Round Up
Driving Ban on Expats ‘Unconstitutional’, Bahrain Court Rules Bahrain’s Constitutional Court has ruled as unconstitutional Article 20 of the draft traffic law that bars expatriates from driving unless their occupation required it. The court said in its landmark ruling, on July 2nd, 2014, that the article did not comply with provisions of the constitution. The Council of Representatives, the elected chamber of the bicameral parliament, had approved the controversial article in a bid to ease growing traffic congestion in the country. Expatriate employees would instead use company buses or public transport to and from their work, the lawmakers said. The article was also passed by the appointed members of the Shura Council, the parliament’s second chamber, with 15 votes to eight, following a plea by the chairman for a yes-vote in a bid to have the traffic law enacted after seven years of debates and arguments. Several members said that they could not support an article that would discriminate between people or that was most likely to cause economic and social issues. – GULF NEWS
64 Nations soon to get Visa on Arrival in Bahrain Bahrain is mulling the implementation of a new visa policy, under which nationals from 64 countries will be provided a one-month visa on arrival, it was revealed by the Bahrain Economic Development Board (EDB) on Wednesday. The policy, expected to be implemented in January 2015, also allows for the visa to be renewed for an additional three months. India, Pakistan, South Africa, European nations such as Romania, Portugal, and Poland, and South American nations feature on the list of the new nations, EDB confirmed. The policy has the potential to affect over 2.5 billion people, and is aimed at enabling expatriates who do business in Bahrain to easily travel in and out of the Kingdom. The Gulf state, hit by internal protests and clashes since 2011, is also looking at boosting its tourism industry. A similar visa policy is already in place for nationals from 38 countries, and once implemented, it will be available to 102 countries in total, EDB stated. – GULF BUSINESS
Almoayed Chambers Iftar Party The Almoayed Chambers Chairman and Managing Partner Mr Aymen Almoayed hosted a company Iftar dinner for all the staff members, at the Mövenpick Hotel, on July 21, 2014.
Mr Almoayed (third from right) with the employees
Gulf Insider August 2014
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Gulf Round Up News
Emiratisation on ‘Paper Only’
Saudi Religious Police Banned From Spying, Car Chases Saudi Arabia’s notorious religious police have been banned from spying on residents and car chases, according to local media. President of the Commission for Promotion of Virtues and Prevention of Vice (Haia), Sheikh Abdulaziz Al Asheikh, also reportedly warned members not to show signs of extremism or religious fanaticism. Two members of Haia – otherwise known as the religious police – earlier this year were accused of causing the deaths of two brothers after their car crashed while they were being pursued by Haia members, who allegedly fled the scene. A court later dismissed a case against them. – ARABIAN BUSINESS
Bahrain: Senior U.S. Official Persona non Grata Bahrain declared a senior U.S. official persona non grata last month, and asked him to leave the kingdom immediately, because he had “intervened flagrantly” in the country’s internal affairs, according to state news agency BNA. BNA said that U.S. Assistant Secretary of State for Democracy, Human Rights and Labour, Tomasz Malinowski “held meetings with a particular party to the detriment of other interlocutors, thus discriminating between people, and contravening diplomatic norms.” The latest move highlights the sensitivity in relations between the strategic allies. Bahrain is a U.S. ally in a volatile region but at the same faces criticism over its record on human rights. – AL ARABIYA 14
Gulf Insider August 2014
Companies are employing UAE nationals only to meet Emiratisation targets without requiring them to come to work. The practice was rife at insurance companies, according to Ali Al Nuaimi, FNC member for Ajman, who said some companies employed UAE nationals in low-level posts, and put pressure on them to leave when the company reached its Emiratisation target. “Managers of some nationalities discriminate against Emiratis and recruit employees of their own nationality,” he added. Sultan bin Saeed Al Mansoori, Minister of Economy and chief executive of the Insurance Authority, said there were 60 insurance companies in the UAE, of which 34 were UAE based and 26 foreign, employing 8,790 people. Only 768 staff were Emirati. The number of Emiratis companies must employ was increased from 5 per cent in 2012 to 9 per cent in 2013. THE – NATIONAL
Bahrain to Uphold Alcohol Ban in Three-Star Hotels A ban on alcohol in threestar hotels will stay in place, according to the Culture Ministry, who has pledged to help hotel owners who want to upgrade their facilities to four stars. Speaking to Gulf Daily News following discussions with hotel representatives, a Culture Ministry spokesman said: “It (the ban) is permanent. We are in discussions with the three-star hotels and we will continue the process of
improving them to get a four-star rating.” Three-star hotel owners claim they could be forced to close as a result of an alcohol ban, which was imposed on them last week. The ministry has also prohibited presenting Arabian and foreign art shows and recruiting artists belonging to both the genders at three-star hotels. – ARABIAN BUSINESS
INDIA & BAHRAIN A very special relationship
Over 350,000 Indians and people of Indian origin reside in Bahrain, so making up a third of the Kingdom’s total population and forming a valuable and integral part of society. Indians serve Bahrain at every level, from trusted household helps to being key figures in retail, finance, transportation, telecommunications, hospitality, education, and industry.
350,000 Estimated Indians and
people of Indian origin reside in Bahrain
To coincide with India’s 68th Independence Day celebrations this month, Gulf Insider talks to India’s ambassador to Bahrain, Dr Mohan Kumar, as well as Mohammed Dadabhai and Vijay Boloor, two of Bahrain’s most influential businessmen of Indian origin, on the roles Indians play in society as well as the current and potential future state of relations between Bahrain and India.
INDIA & BAHRAIN FEATURE
India and Bahrain Insider Feature
Insider Interview Indian Ambassador
H
INDIA & BAHRAIN FEATURE
ow would you compare the last 3.5 years in Bahrain to your previous diplomatic assignments? This is my first time in the Gulf region. I was in Bahrain during a very challenging time and I’ve learnt a lot. Having spent 33 years in eight countries on different continents, I must say Bahrainis are some of the most open and tolerant people I’ve met, which to me will always be Bahrain’s unique selling point. How do you find Bahraini culture? Do you see any similarities to the Indian customs? I see similarities in some areas, be it food – Bahrainis love biryani, a traditional Indian dish that was brought to the subcontinent during the Mughal rule; arranged marriage – although this tradition is slightly changing with the new generations; the social concept of joint family house; or the popularity of Bollywood films among the Bahrainis. These connections are quite striking to me, although not always openly acknowledged.
H.E. DR MOHAN KUMAR
INDIAN AMBASSADOR TO BAHRAIN Dr Mohan Kumar tells Nick Cooksey what makes India unique and how Bahraini-Indian ties can be reinforced. 16
Gulf Insider August 2014
The Indian diaspora around the world is 25 million-strong. Do Indian expatriates stay connected to their cultural origins? There is an old saying that ‘you can take an Indian out of India, but you can’t take India out of an Indian’. If you’re looking at cultural habits among Indian communities abroad, everything will remain extremely traditional. When it comes to financial investments, I think they are like any other nationality – they will invest where they will get maximum return; they wouldn’t allow an emotional connection with their homeland to affect their financial dealings. India’s society is well known for its cultural diversity. How is it possible for such complex social structure to avoid internal conflicts? I’m awfully proud that we were able to get along despite all the religions and ethnic differences that you can imagine. I say this with all the humility at my disposal, but I think this is nothing short of a miracle, especially when
Indian Ambassador Insider Interview
I see much smaller countries having bigger problems. No one really believed that India could survive after gaining independence, but there must have been something that we got right.
a country that is rearing to go, and that would be right; and you can call us an IT power, and that would be right as well. It’s not simple to categorise where India is – it is indeed sui generis.
Your PhD thesis was on the subject of India’s trade policy in WTO. How would you define your country’s current position in international trade? I like to refer to my country as “sui generis”, that’s Latin for “one-of-a-kind”, because it’s difficult to find a nation that’s really comparable. Our policy is to have an open trading system but with safeguards for individual countries such as India.
Bahrain’s largest expat community hails from India. What are the biggest challenges that you face in this regard? I have never served in a country with expatriate population of such proportions, amounting to around 350,000 people. Most of the issues that I face relate to the modest sections, those who earn around BHD 100 a month. The key challenge for me is to get them to subscribe to the insurance schemes. The second issue is that, while the Bahraini labour laws are some of the most enlightened in the
How would you evaluate the current relations between India and Bahrain? India and Bahrain go way back. There is a legend that the Indian traders who were on their way to Mesopotamia landed on a lush green island and decided to end their journey there. That island was called Dilmun, now Bahrain. It’s a little known fact that the engineers from British India were the ones to have discovered hydrocarbon resources in the Gulf, which happened to be in Bahrain. Indian currency was still legal tender here in 1960s and some of the Bahraini traders in local souq still refer to fils as paisa, an Indian unit. As for the current events, H.M. King Hamad bin Isa Al Khalifa’s first ever visit to India was a landmark step. It resulted in several Memoranda of Understanding (MOUs), which is a great progress. I see a huge potential in our bilateral trade – currently estimated at around USD 2 billion – specifically in projects done by Indian firms in Bahrain, and pharmaceuticals as India could provide affordable FDA approved alternatives to the expensive branded drugs. Also, our higher education in engineering and medicine is worth considering for Bahraini students, who so far lean towards Western institutions. Bahraini youth are exposed to a particular group of Indian nationals here – around 60 per cent of them work in semi-skilled professions – so they tend to draw conclusions about the country. But India is a complex nation; you can call us poor and backwards, and at one level I would have to agree with you; you can call us
Bahrainis are some of the most open and tolerant people I’ve met, which to me will always be Bahrain’s unique selling point. region and we get excellent cooperation from the LMRA and the Immigration officials, we still face some problems with implementation. It can be a simple case such as the employee’s passport being withheld by their sponsor for the contract duration, which is illegal yet prevalent in this region. Another problem refers to the housemaids. The agents on both Indian and Bahraini sides often deliberately conceal some facts, misleading the sponsor in terms of the maid’s qualifications, and the maid in terms of the job requirements. To prevent this, Indian government passed a law four years ago that restricted unskilled single women under the age of 30 to emigrate, which has proven really effective. In general, I think the challenge for us is to move the status of Indian expats in Bahrain to the next level, rather
than just sticking to low-income manual jobs, but having said that, I feel honoured that Bahrainis prefer to employ Indians as household help. There is a connotation of trust in hiring a driver who takes your children to work, or a cook who prepares your food. As Indian ambassador to Bahrain, do you have any achievements you are particularly proud of? I can legitimately claim to have played a part in finalising the two visits of H.R.H. Prince Salman bin Hamad Al-Khalifa and the first ever visit of His Majesty to India, in addition to kick-starting the construction of our new Embassy in the Seef, which has been put on hold for eight years. … and regrets? My biggest regret would be over commercial trade. Given my knowledge in WTO, I thought I’d be able to change the investment scenario between India and Bahrain but it just hasn’t happened as I had hoped. It’s a work in progress. Although I have noticed the change in how Bahrain starts looking towards East; take for instance the recent travels of His Majesty to Japan, Thailand, or India. So, perhaps this is the beginning. Are there any views that you held at the start of your career that time has proven to be wrong? If you had told me that Internet or mobile technology would replace telex that we used to rely on in the early 1980s, and that the communication would become so much faster and efficient, I would never believe it. The other thing I didn’t see coming was the fact that we would have swung back to putting politics before economics, which was a common notion back then. After I saw countries like Singapore or Malaysia focus on their economic growth rather than political disputes, I thought that it was economics that would trump the politics. But now I find politics again taking the centre stage. For this topic I would recommend Thomas Piketty’s “Capital in the Twenty-First Century”; I believe everyone should read this book. Gulf Insider August 2014
17
Insider Feature India and Bahrain
INDIA & BAHRAIN FEATURE
entrepreneurs to come to Bahrain, be it through my personal connections or the Bahrain India Society, which should work as a base to increase the intensity of these ties. Historically, India and Bahrain have a strong link and we should boost it even further. I believe it’s our responsibility as the business community, to work hard for that. We shouldn’t wait for the Government to take action. If Bahrain’s economy grows, we will grow with it.
MOHAMMED DADABHAI
CHAIRMAN, DADABHAI GROUP
I
n your opinion, how “business friendly” is Bahrain compared to other GCC countries, looking at both pros and cons? Every country has its upsides and downsides, and Bahrain is not an exception; it does have a few hurdles. When it comes to business, our policies are very open. However, the problems start when our MPs interfere with business-related matters. It is important that our Parliamentarians cooperate with the business community and take our suggestions into consideration; that they listen to the people as they represent them. This way we can bring strong economic results for the benefit of the country. My other concern is that the ministries should be more efficient in following the directives of the leadership. Of course some of them, the Ministry of Commerce or the Bahrain Economic Development Board for instance, can be very efficient. 18
Gulf Insider August 2014
But there are Ministers who have yet to understand the vast effect every business has on the economy; it not only affects the entrepreneur, but also creates jobs and a general atmosphere of profitability. What do you think should be done to address this problem? The current “system” needs to be changed so that Bahrain’s economy can flourish to the best of its capabilities. Certain ministries should start taking their responsibilities more seriously. I think it’s high time that someone says it. And I don’t mean it to criticise, but to improve. We could have stronger economy than our neighbours, if not for the “system” that hinders our growth. Could you give us some examples of what you’ve achieved in terms of supporting the Bahraini-Indian relations? I play a part in getting the Indian
In your opinion, what was the greatest success achieved by His Majesty King Hamad bin Isa Al Khalifa’s visit to India? The king’s visit was very successful, especially for India to see what Bahrain can offer, how it is welcoming the
Historically, India and Bahrain have a strong link and we should boost it even further. I believe it’s our responsibility as the business community, to work hard for that. entrepreneurs. The king has made it very clear that he would like to open the gates with India and likewise, Indians are showing their interest. I think this was a historical step, together with the two visits of H.R.H. Prince Salman bin Hamad bin Isa Al-Khalifa, who is taking a lot of interest in these matters. Do you have a favourite motto or quote that helps guide you? I have a few of them, but I guess the most important one would be that my own happiness comes only after everyone around me is happy – be it my family, my friends, people who work for me, or people who live in this country.
VIJAY BOLOOR
DIRECTOR, GAJRIA HOLDINGS & EXECUTIVE DIRECTOR, TALKING PICTURES PRODUCTIONS
towards Asian countries these days. As we all know, the Asian economies are rising – look at China or India for that matter. So, I do believe our relations will strengthen in the future. What would you say is your main social responsibility towards Indian community in the Kingdom and how do you fulfil it? I have been the Chairman of the Indian Club for three terms in the past years, during which I’d managed to implement significant changes. Also, I was on the board of Bahrain Asian Traders Committee for eight years, which is the subcommittee for Bahrain Chamber
The Bahrain’s Government seems to lean towards Asian countries these days. So, I do believe our relations will strengthen in the future.
I
n your opinion, how “business friendly” is Bahrain compared to other GCC countries, looking at both pros and cons? In the latest Index of Economic Freedom, published by The Wall Street Journal and The Heritage Foundation, Bahrain ranked 13th in the world. Our policies are very flexible for the foreign investors. Even the ministries have improved their procedures – the Ministry of Commerce is especially worth mentioning. In general, Bahrainis have a good understanding of business. And for the downsides, I’d say the small size of the market is one of the main issues. What are the key challenges currently faced in Indian-Bahraini relations? Historically the relationship between the two countries is over 3,000 years long. The Indians have been in Bahrain for
almost 200 years; my wife’s grandfather came here in 1910. In fact, we have a Hindu temple on the island that dates around two centuries back. According to statistics, more than 50 per cent of the expatriate-owned businesses in the Kingdom belong to Indians. But still, we have challenges. I think it is mostly due to lack of transparency and certain issues with the ease of doing business in each country. Although various political figures show interest in building good ties with India, I feel the current situation is not 100 per cent as the perception is. What are your predictions for future developments in this regard? I had a chance to go with H.M. King Hamad bin Isa Al Khalifa to India, which resulted in many promising opportunities for Indians to invest in Bahrain. The Bahrain’s Government seems to lean
of Commerce and Industry. It helps all Asian communities in the Kingdom with any business-related issues. In what you do, what do you love the most and what do you dislike? I like to be around people, as opposed to working in my office alone. I consider myself as a deal maker; that’s what I do best. I like to be active, to create new things. I don’t like monotony, getting into details. Do you have a favourite motto or quote that helps guide you? I have so many of them that I actually wrote a compilation book on them titled “Rules not Taught in Schools”. But, my favourite motto I live by comes from the Bible: “Thou shalt not judge.” I believe we have no right to judge other people’s actions. If you don’t like what they do, just avoid them. Gulf Insider August 2014
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INDIA & BAHRAIN FEATURE
India and Bahrain Insider Feature
Insider Feature Travel
TRAVEL BAN: TACKLING LEGAL LOOPHOLES Is amendment to a controversial law underway? By Agnieszka Piechoska
T
he travel ban regulation in Bahrain is often referred to as Catch 22, with many human rights groups calling for its urgent revision. The most recent proposal, put forward last March by the local campaigners, was to establish a specialised court that would handle exclusively the travel ban lawsuits. The suggestion was welcomed by the Nationality, Passport and Residence Authority (NPRA) officials, with NPRA Under-Secretary Shaikh Rashid bin Khalifa Al Khalifa commenting, as quoted by Gulf Daily News, “This is a subject
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very close to me and I really want to find a way to simplify the situation, either by establishing a separate court or some sort of body to help these people.” We have yet to see if and when the plan shall materialise.
The Law The ambiguous law, which prevents a concerned person from leaving Bahrain, is commonly put to use by the banks and mobile network operators when dealing with non-paying customers; or by the employers accusing their staff of running
up a debt. In addition to violating the International Code of Banking Practice as well as the human rights treaties signed by Bahrain, the regulation is also criticised for its flawed logic. For the expats, a travel ban is usually followed by a residence visa and work permit denial, which makes it impossible to secure a job or even to access the public healthcare. There seems to be no practical solution – on the one hand the expat struggles to make ends meet, and on the other, the lender refuses to lift the ban, insisting that the loan is paid off. The process of imposing and lifting
Travel Insider Feature
There seems to be no practical solution – on the one hand the expat struggles to make ends meet, and on the other, the lender refuses to lift the ban, insisting that the loan is paid off.
a travel ban has been frequently deemed random and non-transparent. The regulation does not specify any minimum amount for which one could be considered in violation of the law, and there is no obligation for a plaintiff to officially inform a person once the ban has been issued against them – which means that it can be heavily misused.
Room for Improvement The low-income labourers seem to be particularly vulnerable in this regard,
because they are typically unaware of possible consequences associated with the unpaid bills in the Kingdom. Also, the employee-versus-employer disputes often lead to the latter file a court case on the grounds of alleged outstanding loan. The situation becomes even more severe for those foreigners who are under a travel ban for committing a criminal offence. Upon the completion of their sentences they remain stranded at the NPRA Temporary Detention Centre due to their travel bans still in force, which can be lifted only if they repay their debts.
The Solutions Faisal Fulad, Bahrain Human Rights Society (BHRS) Secretary General, claims to have been following up on the issue for the last six years. “We took this matter to the highest level in Bahrain, addressing the Authorities and human rights groups; we even discussed it during the session of the UN Human Rights Council in Geneva,” he told us, “There were promises and recommendations, but no action was taken. “According to our statistics, there are more than 4,000 expats currently affected, and the numbers keep growing,” Mr Fulad continued, “However, Justice Ministry quotes only around 270 cases.” In addition to establishing a dedicated court, Mr Fulad recommends amending the current law by setting a minimum outstanding debt required for issuing a ban. “Also, the banks should be monitored as some of them make their credit cards available to almost anyone, without pointing out the potential risks,” he added. The Authorities offered a partial solution to the problem in May 2012 by introducing a regulation which allows those under travel bans due to the financial disputes – but not those holding a criminal record – to apply for a permission to renew their visas. This surely is a great progress, although some employers may still hesitate to hire someone with an on-going court case and limited mobility.
The Hopes It usually takes more than a few months to incorporate any major changes into the legal system. Although no official statements were made following the initial comments from NPRA, perhaps those directly affected by the law should not lose all their hopes, yet. On many occasions, Bahrain’s Government showed its dedication to keeping in line with the international standards, so maybe this seemingly flawed regulation will not go unnoticed much longer.
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Insider Bahrain Visa Policy
BAHRAIN’S
NEW VISA POLICY
To benefit international businesses and tourism industry by offering visa on arrival to almost half the world’s population.
of the most flexible visa policies in the region - follows that tradition, enabling citizens from more than 100 countries to enjoy easier and quicker access to the Middle East’s most open economy, as ranked by the Heritage Foundation’s 2014 Index of Economic Freedom.” The decision to revise the visa policy was taken based on key trends in the investor base in the Kingdom, including a 58% increase in international investors who own businesses in Bahrain between 2005 and 2012, and 50% increase in Arab investors with 17% in non-residence equity owners. The UNCTAD World Investment Report
The new visa policy - one of the most flexible visa policies in the region enabling citizens from more than 100 countries to enjoy easier and quicker access to the Middle East’s most open economy.
T
he Bahrain Economic Development Board (EDB) has highlighted details of a new visa policy that allows nationals of more than 60 more countries to obtain a visa on arrival, bringing the total number of countries with this option to nearly 100. The new visa policy will be implemented in 2015 and is a significant development, with the potential to affect over 2.5billion people who can now obtain a one month visa on arrival, with the ability to renew for another three months. In particular, the new visa policy will further enable expatriates who do business in Bahrain, to easily travel in and out of the Kingdom more easily, as well as boosting the tourism industry.
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His Royal Highness Crown Prince Salman bin Hamad Al Khalifa, First Deputy Prime Minister and Chairman of the EDB, presented the new visa policy in a Cabinet meeting earlier this week, emphasising that reforms such as this, which support the business environment in the Kingdom, will help to continue to attract inward investment and drive forward economic growth and job creation. H.E. Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of the Bahrain EDB, commented: “Throughout history, Bahrain’s economic progress has been built on a tradition of openness, based around its role as an established hub for trade and investment. The new visa policy - one
2014, released last month, confirmed that total foreign direct investment (FDI) into Bahrain in 2013 was $989 million, an increase of 11% on 2012, outpacing global average growth of 9%.
58% increase in international investors who own businesses in Bahrain
Insider Business Dubai
‘THE WORLD’S FIRST TEMPERATURECONTROLLED CITY’:
MALL OF THE WORLD
‘The world’s first temperature-controlled city’: Dubai to build biggest mall on the planet, complete with theme park, five miles of covered streets and 100 hotels and apartments.
D
ubai is already home to the tallest tower in the world. Now it plans another recordbreaking construction building the largest shopping mall in the world, complete with climate-controlled streets, the world’s largest indoor theme park and 100 hotels and apartments. The project has been dubbed a ‘temperature-controlled pedestrian city’. Occupying 48 million square feet, the Mall of the World will also contain health resorts, theatres, a Celebration Steet modelled on the Ramblas boulevard in Barcelona and ‘retail streets network’ that will stretch over 7 kilometers. The grand project is part of Dubai’s bid to become a year-round tourism destination, despite soaring temperatures in summer that can reach nearly 50C. The new mall, which will be a citywithin-a-city, will be the emirate’s chance to attract visitors even in
Sheikh Mohammed (L), ruler of Dubai, reviews a model of the mall project
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Images: AFP /Getty Images
Dubai Insider Business
Images: AFP/Getty images
the height of the summer, by providing a completely climatecontrolled experience. The eight million square foot shopping centre will be housed under a dome, while the streets will also be covered so that tourists can shop without getting too hot in the heat of the summer The shopping mall itself will occupy eight million square feet, housed below a glass dome, with other attractions extending beyond the central shopping area. In the cooler winter months, the dome will open, allowing people to shop in the fresh air, closing as the summer heats up. It is thought the huge construction will attract 180 million visitors a year and developers hope it will secure Dubai’s futures as a tourism hub. The emirate’s ruler and vice
tourism infrastructure as soon as possible. ‘We are confident of our economy’s strength, optimistic about our country’s future and we continue to broaden our vision.’ The supersized mall will be built near the existing Mall of the Emirates, already one of the largest shopping centres in the world, with its own indoor ski slope. The mall will offer everything visitors need so that they don’t have to venture outside into the heat It will also be a short drive to the world’s tallest tower, the Burj Khalifa, which stands at 2,717ft. The idea is to create a cultural area, with theatres hosting shows at West End and Broadway levels, as well as a network of streets that will be entirely climate controlled.
The Mall will attract 180 million visitors a year and developers hope it will secure Dubai’s futures as a tourism hub. president of the UAE Sheikh Mohammad Bin Rashid Al Maktoum, said: ‘This project complements our plans to transform Dubai into a cultural, tourist and economic hub for the two billion people living in the region around us; and we are determined to achieve our vision. ‘The growth in family and retail tourism underpins the need to enhance Dubai’s
Sheikh Mohammad stated: ‘Our ambitions are higher than having seasonal tourism - tourism is key driver of our economy and we aim to make the UAE an attractive destination all-year long. ‘This is why we will start working on providing pleasant temperature-controlled environments during the summer months.’
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Insider Feature VIVA Advertorial
T
LISTEN NOW! THE POWER OF
HD VOICE By Dushko Kantardjiev, Director of Technology Strategy & Control at VIVA Bahrain
HD Voice provides customers with high-quality, crystal clear, more natural voice calls on mobile networks and hence, broken-up conversations, muffled voices, and dropped calls gradually become a thing of the past. HD Voice: How it works
HD VOICE 26
Gulf Insider August 2014
he major carriers have been teasing with this vision of the future for years, and it looks like HD Voice is finally, for real, delivering on the expectations. With wideband technology and further acoustical enhancements on their phones, users experience greater clarity and intelligently reduced background noise. Since the advent of HD Voice, operators and vendors have been able to more clearly differentiate their services by delivering enriched voice communication on the new 4G or legacy networks. The improved voice experience contributes to revenue by encouraging callers to speak for longer, and more often. Operators who do not offer HD Voice services risk losing their customers to those who do. Mobile HD Voice based on AMR (Adaptive Multi Rate) Wideband technology (AMR-WB) enables highquality voice calls in mobile networks and an improved user experience. It provides significantly higher voice quality for calls between mobile phones supporting the feature, camping in the HD Voice capable network, and can be implemented in GSM, WCDMA-HSPA and LTE networks. The higher voice quality is a result of HD Voice being transmitted over a broader spectrum of the human voice in the audio frequency range of 100 Hz to 7 kHz or wider (compared to traditional range of 300 Hz to 3.4 kHz). HD Voice also takes in more audio samples per second than a standard call. Instead of 8,000 audio samples per second, HD Voice calls double that to up to 16,000. Therefore, the conversation is more natural and is likened to speaking to the other party in the same room. HD Voice also helps people hear more details in a person’s voice and hear better in noisy environments, and improves the call experience, allowing people to
VIVA Advertorial Insider Feature
better share feelings, do business, and communicate information. There is a global momentum since more mobile operators commit to this technology in their networks and launch commercial services enabled by a rapidly developing number of compatible phones arriving in the marketplace. Up until today, 99 operators in 68 countries, out of nearly 800 mobile carriers operating in 220 countries worldwide have adopted the HD voice. VIVA Bahrain is one of the early adopters at the beginning of 2014.
71%
69%
69%
53%
27%
23%
19% HD Voice Own Phone
Normal voice
Background noise
Whispering
HD Voice improves the call experience, allowing people to better share feelings, do business, and communicate information.
History and Deployment The traditional telephone network is generally limited to narrowband audio by the intrinsic nature of its transmission technology, TDM (time-division multiplexing), and by the analogue-todigital converters used at the edge of the network, as well as the speakers, microphones and other elements in the endpoints themselves. Wideband audio has been broadly deployed in conjunction with videoconferencing. Providers of this technology quickly discovered that despite the explicit emphasis on video transmission, the quality of the participant experience was significantly influenced by the fidelity of the associated audio signal. Communications via Voice over Internet Protocol (VoIP) can readily employ wideband audio. When PC-toPC calls are placed via VoIP services, such as Skype, and the participants use a high-quality headset, the resulting call quality can be noticeably superior to conventional telephony calls. Conference calls are a direct beneficiary of the enhancements offered by wideband audio. Participants often struggle to figure out who is talking, or to understand accented speakers. Misunderstandings are commonplace
Perceived Quality
82%
due primarily to generally poor audio quality and an accumulation of background noise. The most frequently cited benefits of HD voice compared to traditional (narrowband) audio are as follows:
Enhanced speech clarity, overall sound quality.
clearer
Much better intelligibility: ease of recognising voices, distinguishing confusing sounds, and understanding accented speakers. Ease of deciphering words that have the close sounds of ‘s’ and ‘f’ and others, often indistinguishable over telephone lines. Ability to hear faint talkers and to
Background noise + Whispering
understand double-talk (when more than one person is speaking at the same time).
Reduced listening effort (decreased cognitive load), resulting in increased productivity and lessened listener fatigue. Better understanding in the face of other impairments, such as when talkers are using a speakerphone, or in the presence of background noise.
The 3GPP standards group of the Mobile Telephony industry has designated G.722.2 as its wideband codec, which is supported by the major handset manufacturers. Most of the latest smartphones support HD Voice, including the iPhone 5, Samsung S III and up, HTC One, Nokia Lumia family 92X, and Sony Xperia Z family. However, to experience the full benefits of the technology, both phones on the call must support HD Voice and share a carrier that supports HD Voice. After years of trials, AMR-WB was made commercially available in September 2009, when Orange launched the world’s first high-definition voice service for mobile phones in Moldova. This was the first time since the 1990s that mobile voice technologies have been subject to a significant evolution. VIVA was the first telecom operator in Bahrain to offer HD Voice.
HD VOICE Gulf Insider August 2014
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Insider Feature On Ramadan
ON RAMADAN, SOCIALISM AND THE NEIGHBOR’S BEAT UP CAR By Ramzy Baroud
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Ramadan was an exacting platform through which poverty and deprivation were devalued so that when Ramadan was over, we felt grateful for the little we had, before we resumed our struggle for the rights and freedoms we truly deserved.
W
hen I was a child, I obsessed with socialism. It was not only because my father was a self-proclaimed socialist who read every book that a good socialist should read, but also because we lived in a refugee camp in Gaza under the harshest of conditions. Tanks roamed the dusty streets and every aspect of our lives was governed by a most intricate Israeli ‘civil administration’ system – a less distressing phrase for describing military occupation. Socialism was then an escape to a utopian world where people were treated fairly; where children were not shot and killed on a daily basis; where cheap laborers were no longer despairing men fighting for meager daily wages at some Israeli factory or farm; and where equality was not an abstract notion. But since Gaza had little in terms of ‘means of production’, our socialism was tailored to accommodate every lacking aspect of our lives. Freedom, justice and ending the occupation was our ‘revolutionary socialism’ around which we teenagers in the camp secretly organized and declared strikes on the walls of the camp in red graffiti, and quoted (or misquoted)
Marx as we pleased, often times out of context. And when it was time for prayer, we all went to the mosque. We simply didn’t see a contradiction, nor did we subscribe to (or cared to understand) the inherent conflict between socialist movements and institutionalized religion in the West. True, we declared solidarity with factory workers in Chicago and followed the news of union victories in Britain, but our socialism was mostly south-oriented. It was the revolutionary struggles of Guatemala, South Africa and Algeria that inspired our various socialist movements in Gaza and the rest of Palestine. Socialism was a call for freedom first, before it was a call for equitable salaries and improved work conditions. There was little by way of westernstyled ‘atheism’ in our refugee camp. Most of us prayed five times a day, communists and all. I went to the mosque for prayer as often as I could. I memorized chapters of the Quran at a young age. Starting in the second grade, I joined my peers for classes in Islamic stories taught by a kindly, semi-blind young man named Sheik Azzam. In the stories, those with faith always triumphed in the end. The
On Ramadan Insider Feature
key to their victories, well, aside from the inevitable divine justice, was their unity and persistence. The characters were often, if not always, poor. The poor always triumphed in Islam, or the way Islam was taught in my refugee camp. I was a socialist and a Muslim. It was my father, who was sometimes called a ‘communist’ as a slur by some of the camp’s ultra conservatives, who urged me not to miss my prayers, and rewarded me for reading the Quran. He was the same person who shared his treasures of translated Russian and other literature with me, all promising of a revolution, of a better world where a person was not judged based on his or her color, race, sect, religion or nationality. If there was ever an inherit tension in all of this, I didn’t see it. I still don’t. Naturally, a real socialist must have a nemesis. In many parts of the world, the archenemy is the multinational corporations and, in the US in particular, the use of military-driven foreign policy as a tool to maintain global hegemony; it is globalization used as a platform to enforce a new kind of imperialism that is no longer an exclusive western attribute. For me in the refugee camp, my nemesis
was our neighbor Ghassan. He owned a car, a beat up old fiat that was actively decomposing back into its original elements. The color was a rainbow of old paint and rusting metal and its seats were almost entirely bare from any evidence that leather chairs were once attached to the unpleasant iron beneath. Nonetheless, Ghassan represented a ‘class’ of society that was different than mine. He was a teacher at a United Nations-funded school, who was ‘getting paid in dollars’, and his likes received what was called a ‘pension,’ a seemingly novel concept that Gaza cheap laborers in Israel didn’t enjoy, needless to say comprehended. Ghassan also prayed at the same mosque as I did. On the main Friday prayer, he wore a white Jalabiya (robe) of white silk, manufactured abroad. He wore authentic E g y p t i a n cologne, and along with his UNRWA colleagues, walked to the mosque with the unabashed grandeur of a feudalist. In the month of Ramadan, as poor refugee parents struggled to make at least the first few days of the fasting month somewhat special and festive for their children, Ghassan and his clique prepared feasts, shopped for the best vegetables, and adorned their iftar tables with meat, not once a week, but every single day of the entire month. And here is the part that I resented the most: to show gratefulness for how ‘lucky’ and ‘blessed’ they were, the rich refugees would distribute raw meat in carefully sealed bags to the less fortunate since Ramadan is the month of charity. And of course, the most qualified to give charity was a UN teacher paid in dollars and expecting a so-called pension. Today I chuckle at the naïve notions of that Gaza child. In actuality, Ghassan was slightly less poor than the rest of us. His home was an improved version of the UN’s ‘temporary shelters’ it provided
refugees following the Palestinian exile in 1948. He was paid around 400 dollars a month, and his car eventually broke down and was sold to a neighboring mechanic for scrap metal. Much of this was placed in context later in life when I worked in a rich Arab Gulf country. I spent two Ramadans there. Each year our company provided a ‘Ramadan tent’, not a metaphorical term, but an actual massive tent under which the finest of delicacies, cooked by the best of chefs, was served by cheap laborers who although included fasting Muslims, were not allowed to break their fast until the rest of us did. The fasting men and women thanked God for giving them the strength to fast before they diligently consumed massive amounts of good food until they could hardly move. Ramadan always takes me back to the refugee camp in Gaza, no matter where I am in the world. And when a TV sheik preaches about what Ramadan is or is not about, I often reflect on what Ramadan has meant to me and my peers in the refugee camp. It was not about feeling the brunt of the poor, for we all were, Ghassan included, povertystricken. It was about sharing the hardships of life, a communal struggle against one’s own weaknesses and a month-long introspection to uncover the collective strength of a beleaguered community. Ramadan was an exacting platform through which poverty and deprivation were devalued so that when Ramadan was over, we felt grateful for the little we had, before we resumed our struggle for the rights and freedoms we truly deserved.
Socialism was a call for freedom first, before it was a call for equitable salaries and improved work conditions.
Ramzy Baroud is the Managing Editor of Middle East Eye. He is an internationallysyndicated columnist, a media consultant, an author and the founder of PalestineChronicle.com. His latest book is My Father Was a Freedom Fighter: Gaza’s
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Insider Business Property
SLOANE RANGERS VS ARABS –
THE BATTLE FOR LONDON On one side: old affluence. On the other: shiny new supercars. By Camilla Swift.
R
amadan; the month in which all good Muslims refrain from eating, drinking, smoking and sex during daylight. Ramadan also marks the start of an annual turf war in London; a battle between the tribal Sloanes and the young Gulf Arabs to dominate Chelsea, in London. The skirmish actually begins before Ramadan. The Gulf States heat up to an intolerable degree and their oil-rich young migrate over here in droves to escape both religious censure and the sun. They descend first of all on the department stores in what’s become known as the Harrods Hajj, to flash their cash around. One friend of mine working in Selfridges was asked by a young Saudi what she would like as a present. ‘A diamond ring,’ she replied, joking. The next day the customer was back — with the ring. Fashionable clothing stores in Kensington and Chelsea time their grand openings to coincide with Ramadan, which makes perfect sense when you consider that the ‘Ramadan rush’ made about £150 million for London retailers last year. And where best to show off all the bling? Well, the King’s Road of course, from the front seat of a burntorange Lamborghini. This is where the natives of SW1 and SW3 start to become restless. Thirty years ago, Sloane Square was known for
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one thing and one thing only: the Sloane Ranger. Knightsbridge was the favoured stomping ground of every London-based Sloane, and as Peter York’s 1982 book The Official Sloane Ranger Handbook put it: ‘How many miles from “the centre” you are is, of course, measured from Sloane Square.’ Back then, tweed, gilets and red trousers were all the rage, and a princess was a style icon. Some of this might sound familiar. But one thing has changed. These days, Sloane Square simply isn’t Sloane central any more. As Arabs dominate the King’s Road, so the young Sloanes slink further afield, to Fulham and Parsons Green, grumbling as they go. The ever-increasing price of London property means that many of those who have faithfully circled Sloane Square for years now can’t afford to live anywhere near their spiritual home. They’ve migrated further afield, leaving SW1 and SW3 to oil money. According to one estate agent based in the Royal Borough, cash purchases are common, and many of their new customers ‘don’t even bother visiting properties before they buy’. There is mention of a Saudi Arabian woman buying a house in Chelsea Green (average price for a two-bedroom house: £3 million) for the sole purpose of storing her dresses.
A Saudi Arabian woman buying a house in Chelsea Green (average price for a twobedroom house: £3 million) for the sole purpose of storing her dresses. It’s the supercharged Koenigseggs, Bugattis and Maseratis that probably upset the long-time residents the most. Their hearts sink as ‘Arab supercar season’ gets underway. The ‘carparazzi’, attracted by the sound of revving engines, dedicate whole websites to the machines, many of which are shipped over specially for the summer. A Lamborghini Aventador recently made headlines when it was filmed crashing into a Mazda on Sloane Street. King’s Road in summer can feel like a reallife version of the computer game Grand Theft Auto, with shiny vehicles
Property Insider Business
parked willy-nilly outside bars and cafés, and the Metropolitan Police last year seized a large number of uninsured supercars, including one particularly tasteful ‘glow in the dark’ Lamborghini. But there are plenty still roaring around. Posing and shopping are the visitors’ main hobbies, but they aren’t the only things that bring them from the Gulf to London. It’s the whole experience, from clubbing and drinking to gambling. Last summer, for example, a group of Arab women visited the lesbian drinking spot Candy Bar in Soho; their religion might not allow them to go clubbing normally, but they were permitted to go there as their jealous menfolk deemed it a safe female space. Naturally enough, Arab Londoners have their own bugbears about the other inhabitants of their adopted city. I heard tell of a Saudi child who said to his private tutor that he was fed up with food from Harrods, but his mother refused to shop in Waitrose ‘because it is full of Russians’. Of course, the truth is that many of the original Sloane Rangers were priced out of K&C long ago. But the trouble is that where Sloanes go, foreign investors follow. Suddenly Fulham has become a popular choice of third home for families
escaping the Emirati heat. Thus prices rise, and Sloanes are forced to move ever further afield — to Acton, Balham, and even Brixton. There are still some strongholds though, where the old-timers can gather to moan. The Thatcher-themed Maggie’s Club on Fulham Road holds no appeal for your average Gulf playboy, and the Berlusconi-inspired Bunga Bunga bar in Battersea also remains Sloane central.
As long as Sloanes stick to themed parties and fancy dress, they’ll probably be OK. Old habits die hard after all, and no one dresses up quite like a hooray. And as the Handbook says: ‘Sloane is a state of mind — not simply a place.’
This article first appeared in the print edition of The Spectator magazine, dated 12 July 2014
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Insider Feature Airport Security
ALL THIS AIRPORT SECURITY IS UTTERLY USELESS All those ritual checks distract from the intelligence work that actually catches terrorists. By Michael Hanlon in London
H
ere we go again: another summer of airport fun. This year it’s been announced that due to a ‘heightened’ security threat, any Brit attempting a holiday abroad will be subject to an even grimmer ordeal than usual: body searching, shoe removing, laptop searching and endless grinding queueing. Expect it to take twice as long to get through security, an official from the Department of Transport said. Superficially there are some excellent reasons for all the extra precautions and checks. ‘New intelligence’ from America’s security agencies suggests alQa’eda has developed clever explosives that can be soaked into clothing or concealed in human ‘body cavities’, and plastic explosives that masquerade as briefcases and iPads. But though the threat is genuine, I wonder how effective any of these tedious security checks will actually be; or if anyone in the know really expects them to help save us from attack. The real enemy of terrorism is not
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endless and undiscriminating checking, but intelligence, gathered on the ground. A look at past plots thwarted tells you all you need to know. Consider the two cargo bombs sent from Yemen in 2010. One of those packages was examined at East Midlands Airport using specialist officers, sniffer dogs, explosives detectors and multiple X-rays. None of them detected the bomb — but because security services had reliable intelligence that a bomb was being placed on board, they insisted on removing packages and searching them thoroughly, and so the bombs were found. Even if checking every passenger exhaustively was the right way to thwart terror, why would any serious government issue a press release about it, informing the terrorists that you were on their case and keeping them up to speed on the things you’re looking for? They didn’t do that with Bletchley Park and the Enigma codes. Leaving aside the possibility that our leaders are just plain dim, we must assume their statements are a clever decoy. In that
The real enemy of terrorism is not endless and undiscriminating checking, but intelligence, gathered on the ground.
Airport Security Insider Feature
‘New intelligence’ from America’s security agencies suggests alQa’eda has developed clever explosives that can be soaked into clothing or concealed in human ‘body cavities’ .
case, everything that we must endure at Stansted and Heathrow is pure ‘security theatre’. This would not be unusual. Much of what passes for ‘security’ and its kissing cousin ‘safety’ is little more than an elaborate show. The American TSA has not detected a single bomb at an American airport since 9/11 (an atrocity, which everyone is at pains not to point out, was accomplished with no bombs at all. None of the visible security measures put in place since 9/11 would have stopped 9/11).
Clever spooks catch terrorists long before they reach the airport. If there is a credible threat, we can take it for granted that the front line is not being manned by security officers on £8 an hour at Stansted. The problem is that the other stuff — the theatre — continues to grow, completely divorced from reality and evidence. Is it useful? Who cares? It’s expedient to announce it, whatever the cost in time and hassle to passengers. Once in place, any security procedure
becomes politically difficult to dismantle. The fact is, it is never in a politician’s interest to argue for a relaxation of safety and security rules. No one will lose their job for being over-cautious, whereas the penalty for laxity is severe, even if the menace changes or disappears.
In the Interest of Safety: The Absurd Rules That Blight our Lives and How We Can Change Them, by Tracey Brown and Michael Hanlon, is published by Sphere.
Gulf Insider August 2014
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Insider Business Banks
Thought the bankers who wrecked the world economy had reformed? Think again - they’re greedier than ever.
MORE CORRUPT THAN EVER
By Alex Brummer
T
he deeply sombre memorandum sent to Barclays’ 140,000 staff last month came straight from the top. In it, chief executive Antony Jenkins, who had got the job two years ago promising an ethical revolution, admitted that the bank had, once again, been misbehaving. This time, the malpractice centred on the appropriately named but little understood ‘dark pools’ — a secretive marketplace where big-league investors conducted share deals far from public
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view, boosting the bank’s profits at the expense of ordinary customers. ‘These are serious charges that allege a grave failure to live up to the culture at Barclays we are trying to create,’ Jenkins asserted. ‘I will not tolerate any circumstances in which our clients are lied to or misled, and any instances I discover will be dealt with severely.’ Strong words — but very familiar ones. When Jenkins took over as boss from his disgraced American predecessor Bob Diamond in the summer of 2012, amid
an earlier scandal over fixing the rates at which banks lend money to each other (the so called Libor rate), he publicly vowed that Barclays would commit to five values of ‘respect, integrity, service, excellence and stewardship’. To underline that commitment, giant Perspex signs were erected in the towering glass and steel entrance of the company’s headquarters. The credo was even etched on the lift doors, while inside the lifts, visitors were shown videos of the wonderful
Banks Insider Business
Barclays CEO Antony Jenkins
charitable deeds of Barclays and its staff. Fast-forward to today, and what has happened since has made a mockery of those pious promises, raising questions as to whether the bonus-fuelled, get rich-quick approach to banking can ever be erased. For what makes all this so disturbing is that the alleged swindles at Barclays stretch all the way to the boardroom. At least eight of its current and former top executives, including the charismatic Bob Diamond, have been interviewed under caution by Britain’s Serious Fraud Office over alleged commissions paid to Middle East backers when the bank went in search of new capital in the autumn of 2008, to avoid it falling into the hands of the British government.
Former Barclays CEO Bob Diamond
Elsewhere, it has faced or is facing disciplinary action and penalties for a vast range of rotten trading activities, from cheating clients on the gold bullion market to rigging energy prices in California. Along the way, Jenkins’ efforts at a cultural revolution seem to have melted away. His chosen reformer, Sir Hector Sants, stepped down citing personal stress. And at the bank’s annual general meeting earlier this year, Jenkins and the board faced an unprecedented challenge by leading shareholder Standard Life over a ‘fat cat’ pay policy that had created 400 new millionaire bankers at a stroke and paid out billions in bonuses against a background of shrinking
At Barclays, traders allegedly routed almost all of the bank’s client orders through dark pools instead of passing them through official exchanges. profits and diminished dividends for shareholders. This, then, is the reality — a bank that gives all the appearances of being run in the interests of its top executives and ruthless traders rather than its customers or the shareholders who ultimately own it. In that sense, it epitomises the culture of ‘bad banks’ that brought the global economy to the brink of collapse some seven years ago. Since then, we have been promised time and again that practices have been changed, checks and safeguards put in place, rogue traders weeded out, legislation tightened. The constant message has been one of reassurance: our money was safe; our
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Insider Business Banks
pensions protected. If only. The shady deals may be more sophisticated, masked beneath that shiny new veneer of corporate responsibility, but the dangers are every bit as real — and may be dragging us inexorably towards a fresh global crisis. New scandals are being exposed on an almost weekly basis. The only reason they do not cause wider uproar is that some are so sophisticated that people do not fully comprehend just how they are being scammed. Take the ‘dark pools’ scandal as an example. This involves many of the world’s leading banks, including Barclays and Goldman Sachs, systematically cheating ordinary customers by hiding sensitive share trades in a twilight zone, far away from highly regulated stock markets. Put it this way: if you want to buy shares in a company, you’d need to do so through an open stock exchange where prices fluctuate according to supply and demand. Dark pools, however, are essentially private trading systems which match share sales and purchases by favoured clients away from public view. Thus, large-scale transactions can be conducted without triggering a move in the share price. This allows big trading organisations, such as hedge funds or banks, to buy or dump large quantities of shares without anyone — except the parties involved — knowing what’s going on. And if you don’t know, then you won’t be able to protect your own investment as the share price begins to move. In other words, dark pools allow the market to be rigged in favour of big banks, shattering the fundamental principle that everyone — from the largest fund manager to the humble retiree cashing in their pension — has exactly the same access to a ‘best price’ quoted on an open market. But it gets even murkier. Dark pools are the perfect environment for other swindles. They are a magnet for computersavvy, high-frequency traders who use technical know-how — including superfast fibre-optic cables — to buy and sell vast quantities of stocks before the
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rest of those trading have caught up. Just a nanosecond’s advantage can yield huge profits for those involved. To put that in context, a nanosecond is one billionth of a second: it takes hundreds of millions of nanoseconds to blink an eye. What this means in practice is that if an investor is trying to buy a big tranche of shares in a dark pool, a ruthless trader can see that order, race ahead and buy the shares himself — then sell them to that investor at a higher price, effortlessly picking that investors pocket. At Barclays, traders allegedly routed
A bank that gives all the appearances of being run in the interests of its top executives and ruthless traders rather than its customers or the shareholders who ultimately own it. almost all of the bank’s client orders through dark pools instead of passing them through official exchanges. By doing so, they would have boosted their own commission on the trades. Goldman Sachs has been fined for failing to protect 395,000 of its clients who lost out because of trades placed through dark pools. Other major banks with dark pool operations, including Credit Suisse, Deutsche Bank and UBS, are now expected to come under scrutiny. What we all need to grasp is that the honest fund managers who buy or sell millions of shares on our behalf are not competing on a level playing field with the dodgy dark pool dealers. Yet again, the bankers are gorging themselves on fat profits while ordinary families suffer.
Nor is this the only recent manifestation of banking’s toxic culture and unchanging contempt for fair play. In the past few months, some 30 foreign exchange traders — working for banks in major financial markets around the world — have been fired or suspended for alleged corrupt behaviour on the currency markets. They are currently being investigated by enforcers on three continents. So how could these dealers have manipulated the exchange rates? As you’ll know by going to a bank or bureau de change, there’s one rate for buying foreign currency and another for selling. The problem is that both rates can be artificially manipulated by a ‘cartel’ of traders if they agree to shift the rate by a tiny increment all at once. And this is all taking place in a largely unregulated market which is truly the Wild West of finance. Recent history tells us that as soon as one scam is exposed and extinguished, another more complex one springs up in its place. That it is not just a legislative failure, it is a failure of morality at the very heart of so many banks today.
Alex Brummer is the author of a new book; Bad Banks, published by Random House Business Books. Available from Amazon.com
395,000
Goldman Sachs has been fined for failing to protect 395,000 of its clients.
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Insider Business Property
INTERNATIONAL
PROPERTY 2014
Assessing the Impact of Currency Movements on Luxury Residential Markets around the World.
with prices rising by only 6.6% over the 12 month period. The currency advantage for Asian buyers looking to purchase in prime central London now has diminished compared to 2009 when the weakness of the pound gave them a significant advantage. The good news for those Indonesian, Australian and Chinese buyers who bought in prime London a year ago is that their asset has appreciated rapidly, by 37.8%, 32.5% and 18% respectively. But for that same cohort of buyers looking to buy in 2014 the strengthening pound has made a London investment comparatively more expensive.
The extremes A Brazilian buying in Miami for example, would have paid, on average, 30.6% more in March 2014, than a year earlier, with only 17.2% of this growth due solely to price growth. In the year to March 2014, one of the largest uplifts would have been enjoyed by a Turkish buyer purchasing in Dublin, who would have seen a 58.3% return. The biggest loss over this period would have been an Icelandic buyer purchasing in Moscow, an admittedly rare combination.
K
night Frank’s experience of global prime residential markets confirms the fact that buyers are increasingly focused on the opportunities offered by currency movements.
London v New York post 2009 While
currency matters to purchasers, it remains only one of many considerations, with investors weighing purchase costs, affordability and market transparency. One of the most notable occasions when these factors aligned was in 2009 in London. Prime prices dipped by 24% in the year to March 2009 but a period of strong growth then ensued (prime prices jumped 20.7% in the year to April 2010). Buyers, both domestic and foreign, saw London’s luxury bricks and mortar as a safe haven investment.
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In 2009 the pound had weakened significantly against key Asian currencies. This shift proved influential in attracting Asian interest in the UK capital. At the same time the US dollar remained relatively stable against the euro and key Asian currencies. While New York saw a flow of overseas investment into its residential market, the resilience of the dollar dampened what could potentially have been a bigger influx of foreign buyers of international investors.
Buying in: Prime London Time period: Last year Due to the strengthening pound over the last 12 months – there are few nonsterling buyers for whom prices in central London have appreciated at a slower rate than for local buyers. Only buyers from Iceland have an advantage compared to British buyers,
Currency Trends to Watch If the Chinese Yen is devalued, Chinese
buyers are unlikely to be as active in the international property markets as they have been. If the sterling strengthens further some foreign owners may take the opportunity for profit taking. If the US Dollar rises as expected, demand for prime residential property in those markets favoured by US buyers such as the Caribbean, Italy, Ireland, the UK and France may increase If the euro weakens, foreign buyers who retreated from many second home markets post 2008 may start to return.
The Yen is increasingly viewed as a ‘safe haven’ currency, having fallen only 0.3% in the first half of 2014 against the pound. Tokyo may increasingly appear on the radar of international investors.
Property Insider Business
LONDON’S OVERSEAS BUYERS
O
ver the past four decades, London has been promoted from national capital to premier league global city, becoming one of the world’s most successful cities on a range of economic, cultural and social measures and a destination of choice for residential investment, according to international real adviser, Savills. Inward migration and natural population growth boosted London’s population from 7.3 million to 8.2 million between 2001 and the 2011 census, with expectations that it will rise by a further million by 2021, the fastest rate of growth ever. In World in London Savills says that rising house prices are an inevitable consequence of rising levels of affluence and high levels of competition for a limited supply of homes. The shortage of homes, rising house prices and consequent exclusion from the market of many aspiring home owners are all highly contentious issues, but it is wrong to hold an influx of buyers from overseas responsible say Savills. Non-resident international buyers
International buyers account for a larger share of the central London, prime and new build markets. accounted for an estimated 7 per cent of the greater London residential market in 2013/14, and the vast majority of these were buying properties to rent out for occupation by Londoners. Prime London market focus – how does the top 8% of the London market split? International buyers account for a larger share of the central London, prime and new build markets. Figures from these specialised markets have often been erroneously applied to the whole market, Savills says. The firm’s analysis suggests that international buyers have accounted for around a third (32%) of the ‘All prime London market’ (the most expensive 8% of London sales) over the past 18 months. “Even in these prime markets, domestic buyers outnumber international buyers by over a wide margin,” says Yolande Barnes, Savills world research director. “Our analysis demonstrates quite clearly that these are not ‘buy to leave’ owners as popular myth suggests and the majority are resident buyers –
especially in the second-hand market. Analysis by Savills suggests that, across the prime market, including new build, most international buyers are buying a main residence. The remainder are almost evenly split between those buying second homes for themselves of their family to use, for example when on business or studying in London, and those who are investing for rental income. It is only in the central prime London market (Knightsbridge, Belgravia and Mayfair) that the market is evenly split between international and domestic buyers. Here, non resident international buyers account for around a third of buyers, the majority using their properties as second homes, for use when in London for business or pleasure. Prime London house prices have grown by an average of 4.9 per cent a year since 1979 compared to the UK average of just 2.9 per cent. In line with the firm’s forecasts, prime London residential values now appear to have reached a high plateau, having risen by 4.9 per cent this year to date and 11.8 per cent in 2013, driven by equity in a market where 90 per cent of sales involve no borrowing at the point of purchase. “Global economic forces are shaping real estate markets across the world and few major cities go untouched,” says Yolande Barnes, Savills world research director. “The global inflation of asset prices generally, and residential properties in key cities in particular, has played out in many locations – among which London has been a key participant. International participation and demand for real estate is a clear reflection of the city’s role as a world player.
Gulf Insider August 2014
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Insider Business Bahrain
BAHRAIN OFFICE MARKET
Oversupply continues to weigh on Bahrain’s office market.
Where is demand currently focussed? In the first half of 2014, occupier demand was limited to small pockets of Bahrain’s office market. Small, fitted-out units remain most popular, especially among those tenants looking to avoid the upfront costs of carrying out the work themselves. Occupiers are also showing a greater preference for shorter leases in order to give them the
The office market is currently experiencing “churn”, with hardly any new corporate tenants entering the market.
B
ahrain’s office market has been suffering from an oversupply of office stock and weak occupier demand since the 2008/09 crisis. Not surprisingly, this has led developers to scale back office construction activity, with little new floorspace in turn being delivered to market. That combined with stabilising market sentiment helps to explain rental values more or less flattening over the past six months. 40
Gulf Insider August 2014
Despite office rents showing signs of finding a floor, at BHD 9m2 per month, prime rents are currently around 40% below their 2008 peak. What’s more, Grade A and B have seen similarly large falls. Thus, oversupply and lower corporate profits have hit all three segments fairly similarly. Over the next 12 months, with development activity expected to remain depressed, we expect the downward pressure on rents to abate.
flexibility to relocate in case of changes in circumstances. In addition, the office market is currently experiencing “churn”, with hardly any new corporate tenants entering the market. While vacancy rates across Grade A and B stock remain high, best-in-class buildings such as Almoayyed Tower, Bahrain World Trade Centre and Bahrain Financial Harbour continue to see healthy levels of demand. Moreover, going forward, these buildings are likely to continue to benefit from high occupancy levels as tenants continue to target prime office space. By contrast, older buildings with inefficient floor plates and poor parking ratios are expected to perform poorly – suffering from higher vacancy rates and falling rents.
Information supplied by Knight Frank LLP. For further information about the Company visit www.knightfrank.com or www.knightfrank.ae
eGovernment Insider Bahrain
BAHRAIN RANKED FIRST IN MIDDLE EAST SURVEY
B
ahrain’s retained its first rank among Arab countries in eGovernment Index and was ranked amongst the top advanced countries in the world within this category which was only achieved by 25 countries in the 2014 UN eGovernment Survey. Bahrain was ranked 1st amongst the Middle, South and West Asia, Africa, Middle East, East Europe, Middle America and Latin America, in addition to Caribbean; advancing to rank 18 in eGovernment index worldwide, comparing to it 36th rank in the previous report by moving 18 points ahead of several European and Asian countries in this field. eGovernment Authority CEO Mr. Mohammed Ali Al Qaed presented the details of key indices obtained by Bahrain and the GCC countries; pointing out that this year’s report for the first time praised the efforts exerted by the Supreme Committee for Information and Communication Technology in addition to the establishment and role of the eGovernment Authority in implementing an integrated eGovernment strategy. Al Qaed further continued that within the Online Service Index, Bahrain was able to maintain its 7th position, making it 1st among Arab countries and 3rd among the Asian, with increase in ranking from 86% to 93% this year. The index was
based on a set of key components, being the integration of government, delivery of multi-channel services, bridging the digital gap, increasing utilization ratio and the publicly available government data as well as eParticipation. Al Qaed also stated the remarkable developments achieved by the Telecommunication Infrastructure Index where Bahrain was ranked 26th globally, following its 63rd place in
Bahrain among the top countries in delivering eServices to the elderly segment of the society. the 2012 report. This index measures individuals using the Internet, fixed (wired)-broadband subscriptions, wireless broadband subscriptions, fixedtelephone subscriptions, and mobilecellular subscriptions. The 2012 report only accounted for fixed-line internet and broadband, without taking wireless Internet into consideration. Bahrain was ranked 58 within the
Human Capital Index, compared to its 90th position in the previous report. This index measures adult literacy, gross enrolment ratio, expected years of schooling, and mean years of schooling. On the eParticipation index, which is a supplementary indication calculated within the Online Services Index, Bahrain increased in ranking percentage from 65% to 82%, and ranked 14th globally. The Kingdom is the only Arab state which obtained very high EGDI (eGovernment Development Index) where it attained 80.9% above the worldwide average index 47%. 13% of 193 UN member states obtained the first category, while the remaining three categories include high, middle, and low EGDI countries. Within the 25 Small Island Developing States, the report ranked Bahrain 2nd following Singapore amongst the first category states in its readiness. The report also classified Bahrain among the top countries in delivering eServices to the elderly segment of the society, has integrated service delivery channels also among the leading countries in eParticipation and Open Data. Remarkably, the report mentioned Bahrain International eGovernment Forum, organized every year by eGA, as one of the leading regional events that focus on the latest in ICT.
Gulf Insider August 2014
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Insider Business Bahrain
BAHRAIN FDI INFLOWS APPROACH $1BN PER YEAR Unctad world investment report 2014 shows 11% increase in foreign direct investment to Bahrain.
T
he United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2014 has shown that total foreign direct investment (FDI) to Bahrain in 2013 was $989 million, an increase of 11% on 2012, outpacing global FDI flows which rose by 9%. This is the second year Bahrain has seen double digit growth in FDI since the global economic downturn and reflects the sustainable private sector led recovery taking place in the Kingdom.
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one of the most globalised economies in the region with international investors having a high level of integration into the local economy. H.E. Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive, Bahrain Economic Development Board (EDB), said: “Foreign investment continues to help boost private sector growth in Bahrain and provide Bahrainis with new high value-added jobs. This is a strong volume of FDI and, importantly for us, it is also smart FDI that creates sustainable growth and long term Bahraini jobs.
Foreign investment continues to help boost private sector growth in Bahrain and provide Bahrainis with new high value-added jobs.
According to the World Investment Report FDI to Bahrain in 2012 was $891m, a 14% increase on 2011. The report also shows that in 2013 Bahrain’s inward FDI stocks as a percentage of gross domestic product (55.3%), FDI inflows as a percentage of nominal GDP (3%), and FDI inflows as a percentage of gross fixed capital formation (15.7%) were the highest in the GCC. This highlights the importance of FDI to Bahrain’s economy and emphasises Bahrain’s position as the
The Bahrain EDB, the agency with overall responsibility for attracting inward investment, announced in January that thirty-five international businesses had established operations in the Kingdom in 2013 as a result of its direct outreach activities alone. The businesses, from North America, Europe and Asia, will create more than 800 jobs in Bahrain over the course of three years across a range of sectors, including financial and professional services, logistics, manufacturing, healthcare and ICT. Bahrain’s economy has experienced a consistent and broad-based rebound in economic activity since the start of 2012. In 2012 the non-oil sector expanded by more than 6%, helping the overall economy to grow by 3.4%. This trend continued into 2013 with real GDP growth increasing to 5.3%.
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Insider Feature Buddhas of Bamiyan
THE LOST WONDERS OF AFGHANISTAN
To the rest of the world, these statues were little short of a wonder. To the Taliban, they were idols that sullied the country Photo: GETTY
Alex Spillius reflects on the great Buddhas of Bamiyan.
I
n early 1997, I was a fledgling foreign correspondent living in Delhi, which journalists from all over the world then used as a base for visiting Afghanistan. A few months earlier, like others in the region, I had dashed to Kabul after the Taliban seized the city and made headlines around the world with their almost comically cruel brand of Islam. The country was territorially divided, with the fundamentalists controlling the south, the south-east and the capital, and various warlords controlling the west and north. The Taliban were determined to control the whole country. Their next target was the Bamiyan valley, in the western reaches of the Hindu Kush, which was home to Afghanistan’s most outstanding attraction: two giant Buddhas carved into a cliff face in the sixth century. To the rest of the world, these – the oldest images of the Buddha anywhere – were little short of a wonder, and were recognised as such by UNESCO. To the Taliban, they were idols that sullied the country. There was clearly a story to be told. Reaching Bamiyan required flying north from Kabul on a small UN propeller plane to Mazar-i-Sharif, the seat of the opposition to the Taliban, and then driving back south for five or six hours. With my companions – Amir Shah, the fixer of all fixers in Kabul, and a Danish photographer called Nikolai – I spent
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a bone-rattling, somewhat hazardous but thrilling journey bundling across the northern plains and into the Hindu Kush in a Japanese saloon car. As the road snaked down the mountainside and into the valley, which lies at an altitude of 8,100ft, the Buddhas came into view. Set into a high sandstone cliff behind the rather drab, wintry town of Bamiyan were these giant, serene sentries, unaware of the
Before the Soviet invasion of Afghanistan in 1979, Bamiyan received several thousand tourists every year. concern brewing about their future. It was unthinkable that any human would want to destroy such breathtaking, inanimate beauty. We untangled ourselves from the car and were met by teenage boys with guns and loose turbans – members of the Hezb-e Wahdat militia, who, in time-honoured fashioned, whisked us away to meet their leader. His name
was Karim Khalili, a kindly and reserved figure, with a warm smile beneath hornrim spectacles. He is now one of the country’s vice-presidents. The mighty Buddhas, Mr Khalili said, were a symbol of his country’s rich, diverse and ancient civilisation, and must be protected at all costs. They had been constructed when Bamiyan was a major stop on the ancient silk route that linked China to Europe. The town marked the westernmost point of expansion of the Buddhist religion. After our interview with Mr Khalili, we were granted time to visit the statues themselves. Some of the boyguards came with us. The Buddhas didn’t impress them much. Perhaps like Athenians who live under the Acropolis, the wonder had worn off. As a new arrival, I was awestruck. From a distance, it had been hard to tell how deep the recesses were that housed the giant figures and just how many tons of rock the labourers had had to gouge out. It had been hard to detect that the Buddhas had not lived alone for their 1,400 years in the world: the rock face was honeycombed with dozens of niches that hundreds of monks had used as homes, and which Hazara families still did. At 176ft, the bigger of the two figures was about the height of a lighthouse . Its body was punctuated by rows of holes, where wooden rods had held in place an outer layer of mud and plaster stucco
Buddhas of Bamiyan Insider Feature
that had once been painted bronze, and, according to a seventh-century Chinese visitor, decorated with gold and jewels. The figure had lost much of a leg and its face to time and weather, and to earlier Muslim marauders who did not approve of Buddhist icons and who had taken to it with rams and axes. The Taliban were not the first to regard the figures as blasphemous. There was a doorway that led to a staircase. We climbed gingerly to a gallery behind the Buddha’s head. From there one could look out over a valley chequered with fields and mud farmhouses, a view that probably hadn’t changed in a millennium and a half, aside from the recent addition of a few tanks and jeeps. It was an immense blessing to visit something so magnificent in such tranquillity. Before the Soviet invasion of Afghanistan in 1979, Bamiyan received several thousand tourists every year, mostly backpackers and tour groups from Buddhist Japan, but just three of us were left to roam around a sight whose majesty was on a par with the Giza pyramids or the Taj Mahal. On our way down the stairs, we explored rooms and chambers that led off the staircase. A few retained traces of cave paintings then regarded as the oldest oil paintings in the world. But most had been hacked out of the walls by Russian and Afghan soldiers for sale on the black market. We couldn’t hang around for long. Our hosts were keen for us to visit Hezb-e Wahdat troops on the front line, and we duly spent the night in a freezing mountaintop shelter hoping that the Taliban wouldn’t attack. They didn’t then, but 18 months later, in the autumn of 1998, the Taliban finally seized the Bamiyan valley. Nikolai and I must have been among the very last foreigners to see the Buddhas intact , as the Taliban virtually closed the country to the media. After some debate within the Taliban’s leadership, in the summer of 2001, to cries of “Allah o Akbar” (God is Great), the statues were dynamited to bits in an act of such brainless iconoclasm that it still dismays today.
Gulf Insider August 2014
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Insider Profile Abdulla Al-Haza’a
ABDULLA AL-HAZA’A BAHRAIN NATIONAL FOOTBALL TEAM PLAYER
Believe it or not, I was supporting Germany; they truly deserved this win. This year’s World Cup is the jointhighest scoring World Cup in history. Out of 171 goals scored, which would you vote the best? That would have to be the Colombia’s first goal against Uruguay, by James Rodríguez. It was just brilliant. Which of the current international players are you most impressed with? It’s a tough choice but to me, Thiago Silva is the world’s best centre-back right now.
W
hen did you realise you had what it takes to become professional? I’ve always enjoyed playing football but I hadn’t really thought I would be fortunate enough to become a national team player. It never actually occurred to me until I joined my club at the age of 17. This was a turning point in my career; it gave me the confidence and motivation to exceed my own expectations. What advice would you give to the new generation offootballers in Bahrain? Based on my own experience, I would say a future successful footballer – in addition to his or her talent – needs to have a great amount of passion, perseverance, and dedication. Give your 100 per cent during each practice; set up your goals and work to the best of your ability to reach them; and – last, but not least – love what you do. How would you describe the playing 46
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style of the Bahrain national team? Our strategy will change in accordance with the opponent team; it will differ from game to game. We depend on tactical discipline – we pay attention to our game plan and concentrate on our performance on-field. In the 2014 FIFA World Cup Qualifications, Bahrain came very close to advancing to the fourth round, missing by just one point. Do you see Bahrain qualifying for the World Cup in the future? My hopes are with the new generation of players who look very promising but I’m afraid advancing to the World Cup won’t be possible for as long as we do not have a full-time professional league in Bahrain. We’ve finally qualified for the 2015 AFC Asian Cup, and the World Cup should be next. Now that the World Cup has ended, after Germany’s thrilling 1-0 extratime win over Argentina, can you tell us which team you were rooting for?
Abdulla Al-Haza’a
Book Insider Review
CALLING ALL WRITERS.... MORE OF MY BEAUTIFUL BAHRAIN
The concept of the book is not Bahrainis telling the world how beautiful their own island is, but foreigners telling the world how beautiful Bahrain is.
I
n 2011, to counter all the bad publicity Bahrain had been having in the international media, author, communications specialist and founder of the Bahrain Writers’ Circle Robin Barratt, decided to put together an anthology of short stories and poetry about life and living in Bahrain. “I was living in Bahrain at the time and wanted to show the world that, regardless of what the world’s media was saying, Bahrain for most people was still a brilliant place to live,” said Robin. The book featured forty stories from thirty writers from fifteen different countries, all writing about how beautiful they personally found living and life here found the Kingdom. The book was published in 2012 and is currently the biggest selling book of its kind on the island; it was sold out within the first few months and, as well as selling thousands of hard copies, to-date it has also had over 4600 views at ISSUU. com, and has been downloaded as a pdf over 2500 times. “Although printed and published in Bahrain, which, because of the difficulties with book publishing on the island, made hardcopy readership out of the country virtually impossible, putting on the international e-platforms meant that many, many more people around the world had a chance to read the book and get to know the Kingdom a little more, with the main countries viewing the book at ISSUU - apart from Bahrain - being the USA, Saudi Arabia, the UK and surprisingly, Hungry!” My Beautiful Bahrain had no corporate sponsorship; Robin did it off his own back and in his own time, but because of the
success of this book, he is now looking for Bahrain based companies that really do love their country to help him publish a follow-up titled More of My Beautiful Bahrain. “I am looking for two or three companies that don’t mind the world seeing just how much they love the Kingdom, to support this new book. And a book’s life is measured not in years but in decades! This time, however, I will be publishing in the UK, ensuring a much, much larger readership. Bahrain bookshops are full of books from the UK and US, but try ordering a book published in Bahrain from the UK, Impossible! So publishing More of My beautiful Bahrain in the UK is vitally
important for maximising international readership and distribution, and I expect to at least increase readership ten fold, to tens of thousands.” Robin is also looking for contributors. “Although there are many wonderful Bahraini writers based in the Kingdom, the concept of the book is not Bahrainis telling the world how beautiful their own island is, but foreigners telling the world how beautiful Bahrain is. Now that really packs much more of a message! So I am looking for any non- Bahraini writer currently living on the island who would like to contribute a chapter about how beautiful they personally find living and life in Bahrain. It has to be in their own words and personal to them. Contributions can be about anything any everything; from a favourite place or view, to food, architecture, the friendliness of the people, or something special or personal that has happened. As long as there is no religious or political agenda or any kind, people can write about almost everything and anything, as long as they keep in mind the Beautiful Bahrain title. Word count must be a minimum of 3000 words, no maximum and the deadline is September 2014 but writers should contact me first for full contributors guidelines.” Robin is currently back in the UK, but is planning to return to live in Bahrain again very soon. “I love virtually everything about Bahrain, I feel it is my home, I miss it terribly and can’t wait to get back.” Providing Robin gets business support, the book will then be typeset, proofread and ready for publication early November, in time for Christmas. “More of My beautiful Bahrain is a truly wonderful way for writers to have their words read by a global readership, and for businesses to be seen to be promoting their country on an international arena. It is a win-win for everyone!”
For further details, contact Robin at RobinBarratt@yahoo.com
Gulf Insider August 2014
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Insider Motors Car Review
ALFA ROMEO 4C Nick Cooksey visits the Balocco testing track in Italy to drive the latest Italian ‘pocket rocket’ Super Car.
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hen I was 22 years old I set my heart (and hard earned savings) on an Alfa Romeo Guilietta. It was love at first sight, but turned out to be the most unreliable car I’ve ever owned in my life, rarely capable of covering more than about 1,200 kilometers without needing repair, a service, and/or something falling off. I came to hate it as much as it’s possible to hate a car and the experience put me off the entire brand. So here I am, many years latter at the Balocco testing track in Italy, sitting in the most important Alfa Romeo to be launched in decades. This is the car the company hopes will enhance their brand image and become a future classic. The 4C is certainly good looking. This mid-engine pocket sized super car has a 1.75 liter turbo engine producing an impressive 237 horse power. What’s more it’s exceptionally light, weighing around 900 kilos - giving it a weight to power ratio fitting of a McLaren or Ferrari costing much, much, more. It’s fair to say the 4C can be considered 48
Gulf Insider August 2014
an alternative to the Porsche Cayman. Built at Maserati’s Modena factory, its zero to 100 kph acceleration of 4.3 seconds is Super Car fast; a fifth of a second slower than a Cayman S (which costs a bit more), and a full one and a half seconds faster than a standard Cayman (which costs a bit less).
This is the car the company hopes will enhance their brand image and become a future classic. Built for lightweight simplicity rather than luxury and comfort, within the ‘snug’ 2 seat cabin the lightweight carbon shell is proudly visible with no attempt made to cover it. The doors have simple leather
pull-handles. It has narrow seats, little luggage space, a sound system that can barely be heard above the engine noise, and a tiny rear window difficult to see out of. Start it up with a turn of the key (no on/off start button on this baby), and the engine roars to life. It has a sixspeed dual-clutch automatic gearbox with paddle shifters. Driven hard, the flat-bottom steering wheel feels secure as you point it in the direction you want to go and the car obeys. Mess about with it on corners and enjoy the thrilling sensation of the rear end trying to slide and spin the car. Yes, this car is terrificly fun to drive. It is also loud (the engine has no muffler). Not a problem for short trips and pushing it around a circuit, where the sound added to the experience, but I wouldn’t want to sit in this car for excessively long journeys. As in many such exotic cars with high and wide sills, there is an art to quickly and gracefully getting in and out of this car and it was amusing watching some of
Car Review Insider Motors
Its zero to 100 kph acceleration of 4.3 seconds is Super Car fast; a fifth of a second slower than a Cayman S (which costs a bit more), and a full one and a half seconds faster than a standard Cayman (which costs a bit less).
the taller journalists slowly and without dignity maneuvering themselves in and out. The trick by the way is to swing your legs in after getting in, and swing your legs out before getting out! There are various optional extras available including cruise control, rear parking-assist sensors (essential as the tiny rear window is almost useless), stiffer dampers, fatter anti-roll bars, a rear spoiler, a $2750 Leather package, Xenon headlamps for $1000, a car cover for $400, and for upsized wheels add $1800 The 4C’s striking good looks and relative rarity - particularly in the Middle East where the brand is largely unknown, will appeal to many. I had fantastic fun driving this car around the race circuit, it’s made to be driven hard and fast, and to be enjoyed, but its radical nature means it will obviously not be to everyone’s taste. If it becomes the icon the company hopes only time will tell. And if you’re wondering if this car has changed my attitude to Alfa Romeo, the answer is a qualified yes.
The 4C will be arriving in Bahrain later this year. To arrange a test drive contact Behbehani on +973 1770 1333
The author of this article, Nick Cooksey, in addition to being publisher of Arabian Magazines, is a jury panel member of the Middle East Motor Awards. Gulf Insider August 2014
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Insider Motors Car News
CAR NEWS
MOHAMMED JALAL & SONS LAUNCH ALLNEW SUZUKI ERTIGA Mohammed Jalal & Sons launched the all-new Suzuki Ertiga in Sitra, on july 20, 2014. The versatile family MPV features sporty design combined with advanced aerodynamics. Exterior features include stylish headlamps, alloy wheels, classy rear combination lamps, and its overall aerodynamic styling. The key hall mark of the Ertiga is the fact that it can seat up to seven passengers, with air-conditioning for second row passengers, and seatbelts for all rows that feature both pre-tensioners as well as force limiters. The vehicle is available for viewing or test drives at the Mohammed Jalal and Sons Suzuki Showroom in Sitra.
Samir Cherfan, Managing Director, Nissan Middle East
THE 2015 NISSAN SUNNY DEBUTS IN THE MIDDLE EAST Nissan has launched its 2015 model Sunny in the Middle East, which will be available from all Nissan dealerships across the region from August 1, 2014. Speaking during the launch ceremony on June 17, 2014, Mr Samir Cherfan, Managing Director at Nissan Middle East, said: “Nissan Sunny is one of our top selling models 50
Gulf Insider August 2014
Samir Cherfan, Managing Director, Nissan Middle East (Right) and Jamal Hilal, Brand Manager, Nissan Middle East (Left) in the region and contributes to around 15% of our total sales. We expect this model to double its sales volumes by FY16.� Nissan has given its acclaimed sedan a step up in terms of connectivity (Nissan Connect) and distinctive styling, with a bigger front grille, boomerang-shaped headlamps, and chrome detailing.
Car News Insider Motors
ROLLS-ROYCE GHOST II LAUNCHED IN BAHRAIN The Rolls-Royce Ghost Series II made its debut in Bahrain on July 16, 2014, during an exclusive event hosted by Euro Motors. The re-design of the Ghost family sees understated exterior changes coupled with the latest technology. “Rolls-Royce has a long and proud history of taking the best that exists and making it even better,” said Euro Motors General Manager Mr Paul Yates. Changes to the Ghost Series II include re-sculpted LED headlights encircled by daytime running lights; a tapered ‘wake channel’ on the bonnet; subtly re-sculpted bumpers; and chrome inserts in the front air intakes, which now feed more air cooling to the front brakes.
NEW JAGUAR XE TECHNOLOGY PACKAGE ANNOUNCED Jaguar will unveil the latest addition to its sports saloon car family, the Jaguar XE, at a star-studded event in London on September 8, 2014. Built around an all-new, aluminium-intensive architecture, the XE combines thrilling performance, agile handling, and precise, responsive steering. Mike Cross, Chief Engineer of Vehicle Integrity, said: “The XE is the culmination of everything the company has learned over the years. The Integral Link rear suspension provides a combination of supple ride that is unmatched in this segment.”
PORSCHE INDIVIDUAL TAILORING Porsche Centre Bahrain has set up the “Exclusive” and “Tequipment” exhibitions to meet the individual needs of Porsche drivers in the Middle East. For more than 25 years, Dr. Ing. h.c. F. Porsche AG, Stuttgart, has been offering the option of individually tailoring a Porsche to create a unique vehicle. The “Porsche Exclusive” exhibition is designed to showcase brand’s customisation options, while “Porsche Tequipment” is addressed to those interested in accessorising the cars that are already built or bought as pre-owned.
Gulf Insider August 2014
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Insider Feature Sea Car
THE SMART CAR OF THE SEAS
Tiny boat reaches a top speed of 60 kph - and can be customised to become a police vehicle, taxi, and even an ambulance.
A
futuristic yacht that is fully customisable and measures 24ft in length has gone on sale. The Jet Capsule can be used as a luxurious compact yacht, taxi, police vehicle and even a military patrol vehicle, according to its Italian designers. The compact boat is now on sale for $200,000 for a basic version, while a ‘VIP configuration’ costs $340,000. The boat was launched at the 2013 Monaco Show by the Naples-based company, Jet Capsule, which is taking orders and expects to deliver the first capsules in four months. The capsule measures 24’6 feet (7.5 metres) long and 11’5 feet (3.5 metres) wide, which the firm says is ‘more spacious than any other’ boat of the same dimensions 52
Gulf Insider August 2014
Images: Rex
Sea Car Insider Feature
thanks to its fully customisable interior. The company allows clients to customise the compact vessels according to their needs, including the colour of the vehicle, layout, interior design touches and engines. For example, a mini mogul in need of a compact yacht could choose to have a large sofa which transforms into a triple bed. There is also an option to have a transformable sofa that turns into a double bed, along with a tiny kitchen and private bathroom. Luxurious additions can be included for an extra cost, such as an adjustable lighting scheme, premium fittings, rear automatic closing doors and a sundeck. As the vessel can also be used as a taxi, there is the option to choose between six and nine seats, while the company says the capsule can also be turned into a specialist police vehicle, ambulance or even a military boat. The design of the Jet Capsule has been refined since a team of engineers working in the automotive industry came up with the idea five years ago. They wanted to build a yacht small enough to minimise high costs for it being kept in a port, but large enough to be able to carry a group of friends in comfort to an island where they can sleep aboard in comfort. The Jet Capsule is made from 70 per cent carbon using vacuum-infusion moulding and has photochromic windows, which change their transparency in response to light intensity. The vehicle has between 315 and 740 horsepower depending on the hydro jet propulsion system selected by a wouldbe owner, with a top speed of 35 knots, or 60 kph.
The compact boat is now on sale for $200,000 for a basic version, while a ‘VIP configuration’ costs $340,000. The firm said the carbon body of the vehicle, as well as its carbon fibre deck, allows the craft to be ‘extremely lightweight [while] guaranteeing maximum stiffness, efficiency and minimum waste’. It said that as less diesel is needed aboard, the yacht is less expensive, more
environmentally friendly, but still has a large range because of its efficiency. Despite the current crisis of the nautical industry in Italy, Jet Capsule is expanding and claims to be the only new nautical company started in Italy in 2012. The shipyard is located in Naples and employs 30 workers. Gulf Insider August 2014
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Insider Luxury Watch
MUST HAVES
MEN’S STYLE PICKS
Speedmaster Moonwatch Apollo 11 45th Anniversary Limited Edition by OMEGA Model: 311.62.42.30.06.001 Available at: Bahrain Jewellery Centre Price: On request at +973 17 335 753 Last month the world celebrated the 45th anniversary of one of the biggest technological breakthroughs in the history of mankind – the success of Apollo 11 mission that put two men on the surface of the moon. OMEGA marks the occasion with their Speedmaster Moonwatch Apollo 11 45th Anniversary Limited Edition, on account of the fact that both Neil Armstrong and Buzz Aldrin were sporting the OMEGA timepieces while on the mission. The new titanium and 18K Sedna™ gold model with a classic movement, 42 mm case, and a unique dial, retains many of the key design features found on the watches actually worn by the Apollo 11 astronauts.
CHRISTOPHER CHONG
SHARING STORIES THROUGH PERFUMERY
With no formal training or experience, and unknown to the perfumery world, Christopher Chong first marked his triumphant debut in 2007 with “Jubilation 25” for women and “Jubilation XXV” for men. Fast-forward to 2014, he is now the Amouage Creative Director and a respected craftsman who defies convention and pushes artistic boundaries. Adopting an artistic approach and using music as his inspiration, Mr Chong expresses his vision through a series of narratives. Based in Amouage’s London office, Mr Chong travels the world to meet with customers from all walks of life, which he believes is one of the most rewarding aspects of his role; sharing personal stories and journeys through perfumery.
Journey for Man by Amouage Fragrance Family: Woody and Spicy Top: Sichuan Pepper, Bergamot, Cardamom, Neroli Bigarade Heart: Juniper Berries, Incense, Pure Gerniol, Tobacco Leaves Base: Tonka Beans, Cypriol, Leather, Ambrox Avaialble at: Bahrain City Center and Seef Mall Price: BD93 (50ml); BD113 (100ml) 54
Gulf Insider August 2014
Airlines Insider Luxury
HEIGHTS OF LUXURY THE TOP 10 AIRLINES IN THE WORLD
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n its annual celebration of the best airlines in the world, The World Airline Awards named Cathay Pacific the best carrier in the world and listed the 10 best airlines globally. Hong Kong-based Cathay Pacific beat last year’s winner Emirates to claim the title, which is decided by the votes of millions of travelers. The list was dominated by Middle Eastern and Asian Airlines, with just two of the top 10 airlines being European Turkish Airlines and Lufthansa. When it comes to low-cost airlines, Asian and American carriers dominated the list. Air Asia and Air Asia X took first and second place for budget carriers, followed by Norwegian, the airline currently making waves by offering flights from London to the US from £149 one way.
But the champion of the awards was Cathay Pacific, with its first victory in the most prestigious category in five years. They also came second in the Best Cabin Crew category, behind Garuda Indonesia. Collecting the award, Cathay Pacific Chief Executive Ivan Chu said that he was ‘extremely proud, for both Cathay Pacific and Hong Kong’ to receive this honour’. He added: ‘As the home airline of Hong Kong, we take great pride in putting the city on the international stage by winning this prestigious award once again. ‘The World’s Best Airline award is particularly important to us because it was decided by the votes of close to 19 million travelers from around the world. ‘Thank you to everyone who voted for us!’
Most Improved Carriers in the World 1.
Hong Kong Airlines
2.
Saudi Arabian Airlines
3.
Royal Air Maroc
4.
TAAG Angola Airlines
5.
Iberia
6.
Sky Airline
7.
Air France
8.
Aeroflot Russian Airlines
9.
Air Mauritius
10. Kenya Airways
Best Airlines in the World 1.
Cathay Pacific
2.
Qatar Airways
3.
Singapore Airlines
4.
Emirates
5.
Turkish Airlines
6.
ANA All Nippon Airways
7.
Garuda Indonesia
8.
Asiana Airlines
9.
Etihad Airways
10. Lufthansa
Gulf Insider August 2014
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Insider Art Painting
ZENA ASSI A MASTER OF PATHETIC FALLACY
Wall of Tripoli, 2014
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ith a number of solo and collective international shows and many prestigious awards under her belt, Zena Assi has established herself as a critically-acclaimed contemporary artist. Beirut-based, she draws inspiration from the connection between the spatial environment and an individual; the society and its surroundings. With her unique artistic expression, she documents the cultural and social changes of her country through various media including installation, animation, sculpture, and mainly paintings on canvas.
Building my City, 2014
Zena Assi’s recent works spanning 20132014 are currently on display at Art Sawa | DIFC in Dubai, until August 21, 2014. For more details call +971 4 3408660 or email info@artsawa.com Home, 2014
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Gulf Insider August 2014
Painting Insider Art
Wall of Tripoli, 2014
Bug Soldiers ÂŁ1, 2013
Entraine par la Foule #1, 2014
She draws inspiration from the connection between the spatial environment and an individual; the society and its surroundings.
Sitting Portrait with Black Cat Gulf Insider August 2014
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Last word
10 HABITS OF PEOPLE WHO FOLLOW THEIR DREAMS
There are a few common habits that have helped people who have achieved success in their lives get to where they are. The best part is that these are habits that anyone can attain!
getting stuck in their dreams, they snap into action, no matter what it takes. Whether it’s quitting a job, getting out of a relationship that holds them back, investing in themselves or moving to a new location, they have the courage to do it. They do this by listening to, and then acting on, their intuition.
5. They expect and know that they deserve the best - They expect that
what they want is going to happen as if it were an inner-knowing. They expect and feel they deserve to earn well, do what they love, serve others using their gifts. The secret is that they still expect the best even when they don’t have all the answers as to how it’s going to happen.
6. They have no fear or guilt when asking for what they want - Because they’re so connected to their passions, they aren’t afraid to ask for what they want. In fact, they understand that their success depends on others, so asking for what they want is part of the deal. They set their boundaries and express their needs without fear, guilt or shame.
7. They create their own rules - They create their own rules instead of fitting into society’s norms. This gives them the freedom to design their destiny. 8. They’ve learned to be comfortable being uncomfortable - They don’t
get stuck in having all the answers, or making things perfect. Instead, they’re aware that they’re not going to see the next step until they make the decision to move forward despite the discomfort.
1. They see challenges as opportunities - Most people interpret
fears as obstacles and tend to run away from them. People who live their purpose successfully have developed the capacity to see fear as a sign of what they really need to go for and put all their courage and energy into it.
2. They see life as a game - Having this vision of life opens up space for playfulness and creativity instead of
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limitation. This also cultivates qualities of resilience, problem solving and confidence.
3. Living the life they want is the only option - They’re so committed to
making their dreams a reality that they banish any possibility of a backup plan whatsoever from their mind.
4. They aren’t just dreamers: they act on their desires - Instead of
9. They have mentors and role models - Having teachers’ increases
their awareness and helps them quickly identify where they’re stuck so that they can immediately change their results.
10. They know the power of the spoken work - Your words have more
power than you could ever imagine. They’re the origin of your internal and external experience. They’re not the effect. Change your words and watch your life change as well.
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