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Banking & Finance  Arab Bank Receives 14 International Awards  Interview with AFS CEO Mr. B. Chandrasekhar

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Contents November 2018 Issue 165

36 58 Facebook Followers

358,516 Simply unparalleled online presence that connects region’s most inspired communities.

Banking & Finance

22 24 26

Fintech and the Cashless Society

40 44

Money & Business

Arab Bank Receives 14 International Awards Interview with AFS CEO Mr. B. Chandrasekhar

Golden Gate Prestigious Landmark Lands The Man Behind The Merchant House

Car News & Reviews

56 58 60 62 63 64 66

Bentley Continental GT

Ferrari GTC4 Lusso

…and much, much more!

Audi Q8 – 2,000 Metres High in Oman Porsche Panamera GTS New Mercedes A – Class The BMW 3 Series Sedan Bentley Mulsanne W.O. Edition by Mulliner

Comment... A picture is worth a thousand words. Here's last month’s most 'Liked' #BestInBahrain picture posted to our social media.

Knowledge is power

Publisher & Editor in Chief

- Nicholas C. Cooksey

Editorial Contributors

- Sawsan Abu Omar - Ryan Ernst - Dhanyasree M - Hugh Haskell-Thomas - Nicholas Cortes - Bill Daly

Business Development

- Charlie Cooksey

Layout Designs

- Dhanraj S

Admin & Finance

- Nikesh Pola

Photography

- Aneesh Mathew - Rafnaj K P

Distribution Executive

- Mohammed Yousif

For Advertising Opportunities Call Charlie Cooksey

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 Fintech and the cashless Society  arab Bank Receives 14 international awards  interview with aFS ceO Mr. B. chandrasekhar

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Expats Leaving Bahrain Banks & Economy Includes

Quality education assured! Bahrain’s Best institutions for the right courses

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Events

Day & Night Bahrain International Airshow (BIAS) When: 14th to 16th November 2018 Where: Sakhir Airbase

3ICT 2018

Jewellery Arabia 2018

When: 18th to 20th November 2018 Where: University of Bahrain

When: 20th to 24th November 2018 Where: Bahrain International Exhibition & Convention Centre

BIAS is a commercially-focused biennial airshow that seeks to give aerospace businesses a personalised experience, offering access to high-level delegations within the aerospace community all within a dedicated arena. The event is renowned for its world-class facilities providing an opportunity to meet with industry peers and customers and participate in the civil and military delegations programme.

3ICT is technically sponsored by IEEE Bahrain section and IET Bahrain Local Network. The aim of 3ICT 2018 is to provide a forum for the researchers and industry practitioners to exchange the latest fundamental advances in the state of the art and practice of Computing, Advanced Technologies, and Innovative Research. It also presents their latest research results and perspectives for future work in these areas of research.

For more information: bahraininternationalairshow.com

For more information: iiict.uob.edu.bh

Annual World Islamic Banking Conference When: 26th to 28th November 2018 Where: ART Rotana Hotel & Resort, Bahrain The Annual World Islamic Banking Conference sets the stage for pioneers, industry titans, and global leaders who have trail blazed the development of Islamic finance. They are going to gather here and focus discussions about the industryâ&#x20AC;&#x2122;s tremendous growth.

For more information: Tel. +973 1600 0111 8

Gulf Insider November 2018

Jewellery Arabia is the largest and most prestigious jewellery exhibition in the Middle East. Since its inception in 1992, it has provided international jewellery houses with unrivaled direct access to trade buyers and private collectors throughout this important economic sector.

For more information: jewelleryarabia.com

News Roundup

Dubai Police Probe Men Giving Away Free Cash To Strangers Police are on the search for two men who recently gave away free cash to pedestrians after footage of the incident went viral on social media. “Police have been studying the video and are carrying out an investigation to identify the men,” a police source told the Arabic daily Al Bayan. Police believe the men in the video were of Asian origin. The video was taken in the upscale area of Jumeirah Beach Residence (JBR) in Dubai, which is one of the emirate’s most touristic hotspots. In the video, two men dressed in the traditional Arab attire can be seen distributing cash among strangers in what appears to be Jumeirah Beach Residence. Beneficiaries included drivers, cyclists, a cleaner, among others. During the conversation with residents, the men can be heard saying that the cash was a gift from a prominent Emirati businessman.

Bahrain drops 8 places to 59th in global list of financial centres The Global Financial Centres Index, produced by China Development Institute and Z/Yen Partners, showed that Dubai has jumped four places to 15th in a new global ranking of financial centres, ahead of neighbouring Abu Dhabi which fell one place to 26th while Bahrain dropped eight places to 59th and Riyadh fell to 69th out of a total of 110 centres analysed. The report, which placed Dubai eighth for banking, ninth for professional services and 15th for investment management and insurance, comes as Dubai International Financial Centre (DIFC) announced strong growth during the first half of 2018. Globally, New York took first place in the index, just two points ahead of London. However both centres fell slightly in the ratings. Hong Kong is now only three points behind London while Shanghai overtook Tokyo to move into fifth place in the index gaining 25 points in the ratings. the lower ranked centres fell. There is a much less clear pattern in GFCI 24. “London and New York both few slightly, Asian centres did well and the North American centres fell back a little. Europe continues to interest us with potential beneficiaries of Brexit such as Frankfurt and Zurich doing well.”

Bahrain Ranks Very High In Human Development Oman has achieved the third place in the Arab world and the 43rd place worldwide in the Human Development Index 2018 issued by the United Nations. The ‘Human Development Indices and Indicators: 2018 Statistical update’ released by the United Nations Development Programme, every year ensures consistency in reporting on key human development indices and statistics. The report gave a look at Bahrain’s long-term trends in human development indicators across multiple dimensions. Based on the overall statistics published in the report which included statistics on education, health, security, wealth and other aspect. Bahrain was ranked at 43. The Kingdom earned a Human Development Index (HDI) score of 0.846. The United Arab Emirates received the best ranking at in the Arab region with a global rank of 34. The UAE was followed by Qatar, which was ranked at 37 and Saudi Arabia (39) while Oman (48) and Kuwait (56) ranked lower to Bahrain. 10

Gulf Insider November 2018

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News Roundup

1.2 Million Expat Employees Hold Jobs Set To Be Saudized As many as 1,228,605 non-Saudis are holding jobs in the retail and wholesale shops that will be Saudized under a recent decision by the Ministry of Labor and Social Development, the Arabic language daily Al-Watan reported on Saturday quoting market sources. The ministry started nationalizing four out of 12 activities in retail and wholesale sectors. It said it organized training sessions to qualify the Saudis to take over these jobs. The four activities to be nationalized before the end of September include car and motorbike showrooms, shops selling ready-made garments for men and children, home and office furniture shops and shops dealing in home appliances. It said a total of 1,661,181 people work in these shops including more than 1.2 million non-Saudis, who represent about 74 percent of their total workforce The ministry said by the end of October it would nationalize three activities – namely shops selling electric and electronic equipment, while in November it would nationalize five other activities, which include shops selling medical equipment, building material, car spare parts, carpets and sweets. According to the ministry, the nationalization of jobs will include as many as 471,887 retail and wholesale shops. According to the General Authority for Statistics (GaStat), there were 95,298 car and motorbike showrooms in the Kingdom in 2017. It added that there were a total of 340,210 retail and 36,379 wholesale shops by the end of that year. It said there were 758,791 non-Saudis working in retail shops and 170,027 in wholesale shops. The authority said there were 81,129 Saudis, representing 21.3 percent working in car and motorbike showrooms against 299,787 non-Saudis, who represented about 78.7 percent. The retail shops had a total workforce of 1,039,188, consisting of 280,398 Saudis (27 percent) and 758,791 nonSaudis (73 percent). According to the GaStat, 71,050 Saudis, representing about 29.5 percent, were working in 241,076 wholesale shops against 170,027 non-Saudis who represented about 70.5 percent of the total. 12

Gulf Insider November 2018

Al Areen Palace and Spa partnered with Bahrain Specialist Hospital to host ‘High Tea for Higher Cause’ event in support of breast cancer awareness

People & Culture

VAT is now a reality

ahrain will introduce VAT on 1 January 2019, following the first two GCC states - Saudi Arabia and the UAE - which implemented VAT on 1 January 2018. Businesses across the kingdom now have a severely limited amount of time to finish – or (sadly for far too many organisations) start - the process of preparing for VAT. There are many aspects that need to be considered during a VAT implementation. In many ways, Bahraini businesses are in an advantageous position as they can learn from the mistakes of their Saudi and Emirati peers - and the consultants who advised them - who have already been through implementation. There is, however, limited time. What, then, are some top of mind questions that need to be answered?

Why VAT? This is an easy one! VAT is designed to be a tax on transactions. What that means, in effect, is that VAT is charged, recorded and paid at each stage of the supply chain – until a good or a service reaches the final consumer. As well as acting as a tax collector, businesses throughout the supply chain should – as long as they meet some clearly defined criteria – be able to offset the input tax they have paid against the VAT they owe the government. End consumers get hit in the pocket. The less we as consumers buy, the less VAT we will pay – but VAT is going to apply to almost everything.

Why now? Bahrain runs a sizeable budget deficit and urgently needs to diversify its sources of revenue. In fact, the UAE, Saudi Arabia and Kuwait apparently made the introduction of VAT an explicit demand in the recently announced fiscal support package. Tax is not a new concept to many of us, with levies chargeable on supplies made by leisure industry, particularly in the country’s hotels and restaurants. Add to this, the excise tax introduced at the end of 2017 on tobacco, soft drinks and energy drinks and the more recent postal tax.

What next? VAT has been introduced at a rate of five percent. Although the rate is fixed for two years in the GCC VAT treaty, the rate will almost certainly only go up in the future. As for other taxes – watch this space.

Mubeen Khadir is Senior Director and head of Keypoint’s tax practice. Keypoint.com

Gulf Insider November 2018

BAPCO (GDA) Downstream International Conference and Exhibition.

News Roundup

Saudi court orders man to allow his daughter a passport, stirring ‘guardianship’ debate Ramada City Centre and Bokhowa Investments hosted the ‘Best of Ramada Award’ reception

A Saudi court has ruled in favour of a woman who challenged her father’s decision to not let her have a passport, reports said Thursday (Sep 20), stirring an online debate on the contentious male guardianship system. The conservative kingdom requires women to seek permission from male “guardians” – their fathers, husbands or other male relatives – to travel, get married and do other tasks. In a rare case, an unnamed 24-year-old woman in western Jeddah city sought to disown her father as her guardian after he refused to let her seek a passport to study abroad, local media including the pro-government Okaz newspaper reported. A civil court this week ordered the father to obtain a passport for the woman. The newspaper also said the woman, a university student, had been living with her mother for 10 years and had not seen her father for six years. Saudi Arabia is pursuing far-reaching social reforms that include a historic decision allowing women to drive, attend soccer games and take on jobs that once fell outside the narrow confines of traditional gender roles. Crown Prince Mohammed bin Salman’s Vision 2030 reform plan for a post-oil era seeks to elevate women to nearly one-third of the workforce by the end of the next decade, up from about 22 per cent now. But the kingdom also faces longstanding criticism over the male guardianship system. Long a symbol of repression against women, the system allows men to exercise arbitrary authority to make decisions on behalf of their female relatives. “If a woman had the right to get her own passport – just like men – we wouldn’t need a court” to rule on the matter, tweeted Latifah Ashaalan, a member of Saudi Arabia’s Shura Council, an advisory body. The rare court case also prompted a raft of comments on social media. “I am surprised by the contradictions in the system,” said a Saudi Twitter user. “In the end the father was forced to seek the passport against his will. Why not allow women to get their passports themselves without losing time and going through all this trouble?” 16

Gulf Insider November 2018

News Roundup

Bahrain: More Than 800 Illegal Taxi Drivers Arrested The Director of Traffic Operations and Control of the General Directorate of Traffic, Lt-Col Adel Al Dossari said yesterday that 881 illegal taxi drivers belonging to various nationalities were arrested. Legal proceedings were taken and they were referred to the Public Prosecution, he added. He said the department would continue to monitor such violations that hurt the livelihood of registered Bahraini taxi drivers and will also continue to organise campaigns against the violators in cooperation with security directorates and the authorities concerned. He urged people to promote community partnership by not dealing with illegal taxi drivers.

Bahrain: New Contracts For Domestic Workers Soon A new one-year work contract for domestic workers based on a tripartite contract will be implemented soon, according to informed sources. â&#x20AC;&#x153;There will also be other modifications with regard to work contracts for domestic workers, which will be revealed soon,â&#x20AC;? reported Al Ayam newspaper. The plan pioneered by Labour Market and Regulatory Authority (LMRA) plans to reduce the sufferings of domestic workers amid rising allegations of torture and harassment. The tripartite contract will be signed between the domestic worker, sponsor and the agency responsible for recruiting the worker. The source said the primary purpose of the tripartite contract is to safeguard the rights of all three parties: the employers, the domestic servants, and the agencies.

Bahrain to further open economy to foreign firms Bahrain has reportedly approved plans for foreign companies to set up subsidiaries which will be able to do business without local partners. The countryâ&#x20AC;&#x2122;s Cabinet, chaired by Prime Minister Prince Khalifa bin Salman Al Khalifa, endorsed the new regulation on Monday as part of efforts to boost the national economy, local media reported. According to reports, the move comes two years after Bahrain approved 100 percent business ownership in certain sectors. The new rule is based on Article 345 of Decree 28 of 2015, amending provisions of a corporate law issued in 2001, local media said. The UAE approved new rules allowing 100 percent foreign ownership of companies in the country in May, something previously limited to those companies based in free zones. 18

Gulf Insider November 2018

News Roundup

Dubai luxury property prices sliping Luxury residential prices in Dubai fell marginally by 0.8 percent in the year to the end of June, according to real estate consultancy Knight Frank. Its half-year update of the Wealth Report, which analyses the movement of luxury property prices in 20 of the world’s key cities, showed that Dubai was one of four cities which registered a decline. Other price drops were seen in London (-1.8 percent), Istanbul (-2.4 percent) and Vancouver (-6.2 percent). This compared to Singapore which led the rankings with a 11.5 percent jump in prices, with Knight Frank saying the city has witnessed resurgent price growth due to rising foreign demand and high land bids by developers.

Saudi: Heavy Penalties For Offensive Content On Social Media Saudi Arabia will punish with up to five years in prison and SR3 million fine for producing or sending or forwarding anything that ridicules, mocks or provokes to disrupt public order through social networking sites or any other means of technology, the Public Prosecutor said Tuesday. “Producing and distributing content that ridicules, mocks, provokes and disrupts public order, religious values and public morals through social media … will be considered a cybercrime punishable by a maximum of five years in prison and a fine of SR3 million,” the Public Prosecution tweeted late Monday. In September 2017, authorities issued a public call for citizens to report on social media activities of their fellow citizens, under a broad definition of “terrorist” crimes. Saudi Arabia’s public prosecutor on Tuesday also announced it was seeking the death penalty in the case against a Muslim Brotherhood supporter.

Saudi Envoy Reveals Timing of Second Saudi-Bahrain Causeway The construction of a new bridge intended for vehicles and trains that would connect Saudi Arabia and Bahrain will begin in 2021 and will last three years, Saudi Arabian Ambassador to Bahrain Abdullah Abdulmalik Al Sheikh said on Sunday. “The tender for the King Hamad Causeway will be launched after six months, and it is expected that the project’s execution will start by mid-2021, (after which) it will be complete in three years,” the ambassador said, as quoted by Saudi Arab News. According to the ambassador, the project’s cost ranges between $3-4 billion. He believed that the land route between the two countries will contribute to enhancing bilateral trade in every sector.It was initially planned that the King Hamad bridge will become a part of a 2,000-kilometer (1,242-mile) railroad running through all the countries of the Gulf, from Kuwait to Oman, however, due to disagreements with Qatar, Bahrain abandoned the plan to extend the bridge to the country.

Gulf Insider November 2018

News Roundup

Bahrain Ranked Third Best Islamic Economy Bahrain was ranked the third best in the world when it comes to being an ‘Islamic economy’, according to findings of a study. The Kingdom’s achievements as an Islamic economy was highlighted by the Global Islamic Economy Report 2018/19. The report provides a comprehensive view of Islamic economies around the world and how it caters to halal and Islamic market. It was developed by Thomson Reuters in collaboration with Dinar Standard and supported by the Dubai Capital of Islamic Economy. Bahrain ranked highly in the Islamic Finance sector as well as halal travel, halal media and recreation. “This report estimates that the Islamic finance sector has US$2.4 trillion in total assets. Food and beverage lead Muslim spending by category at US$1.3 trillion, followed by clothing and apparel at US$270 billion, media and entertainment at US$209bn, travel at US$177bn, and spending on pharmaceuticals and cosmetics at US$87bn and US$61bn respectively,” the report stated. In the list of top 15 Islamic economies, Malaysia was ranked first while the UAE was ranked second. Malaysia performed best in Islamic finance while the UAE performed well in areas such as halal food, halal travel, modest fashion, halal media, and recreation. “With 1.8 billion Muslims spending nearly $2.1 trillion in 2017, Islamic economy continues its steady growth. But there is significant scope for growth and maturity in the Islamic Economy, with a mere $0.8 billion in disclosed private equity investments over three years, far less than the almost $600 billion in private equity and venture capital investments that occurred globally in 2017.

Bahrain To Host 4 Major Indian Weddings In Next 4 Months The Bahrain Tourism and Exhibitions Authority (BTEA) announced that it will be hosting four major weddings, with more than 2,000 guests arriving via Gulf Air, the national carrier of Bahrain. “We are pleased to be hosting four major Indian weddings in the upcoming months which will contribute USD$5 million to the Kingdom’s GDP and further promote Bahrain as a prime wedding destination. The weddings will be held during the period between November 2018 and February 2019,” said the Advisor to the Bahrain Tourism and Exhibitions Authority, Dr. Ali Hassan Follad. “The BTEA aims to provide the needed support to seamlessly host weddings in Bahrain by providing turn-key solutions including organizing logistics, venue selection, in addition to liaising with suppliers and industry professionals such as Gulf Air,” he added. Hosting these major weddings comes in line with the BTEA’s 2016-2018 strategy to promote the Kingdom as a prime wedding destination under the umbrella of “Island Wedding” and is a result of the BTEA’s participation in several exhibitions held in India, where a wide range of wedding services were showcased such as wedding and event organizers and unique venues, international luxury hotel chains and boutique offerings. Gulf Insider November 2018

Banking & Finance

Fintech

and the Cashless Society Gulf Insider meets Fawaz Ghazal, CEO of Payment International Enterprises (PIE)

hat do you hope to achieve in your current position, and what is your greatest challenge to making it happen?

Weâ&#x20AC;&#x2122;re trying to achieve financial inclusion, which is empowering people with the financial products that will help them in their lives Everyone in society should have access to financial products. Weâ&#x20AC;&#x2122;re looking at micro financing and being able to give lower income or small businesses small loans and financial assistance.

Gulf Insider November 2018

The main challenge is the regulations we are trying to work around. Especially when it comes to contracts, e-commerce laws, and the GCC in general. Itâ&#x20AC;&#x2122;s more on the legal side than the regulatory frame-work. The regulatory authority has been very cooperative. The leadership and government sees the improvement of loans, financial advisory, investments, savings, and payments contribute to empowering the economy and employment.

What are the major technological innovations taking place within your industry and how are you taking advantage of them? A revolution has already started in the financial industry. Tech currencies, modes of payment, and transaction processes are all going cloud based. A lot of services are already attainable simply through the internet without the need for concrete transactions. The upcoming cashless society is going to change the personalized

Banking & Finance

banking experience. Social media movement gives us a better glimpse of the individual and can be used to tailor promotions, financial advice, and such. Linking customer data to the bank allows them to finance, assist, and advise much more effectively.

our own blockchain ID that holds all our required information and banking details. We can then pay without needing a card or money removing queues and having faster transactions. Personalized promotions can also be automatically included in purchases. If you have a 50% discount for a certain store, you avail of it automatically without prior knowledge of it. Loans and other banking services can also be availed on the spot. Countries adopting their own crypto currencies is also a possibility. The global banking experience would be efficient and instantaneous, less fees for remittances and currency conversion. I imagine banking will also be free. Income from transaction fees or processing fees will be inconsequential to the data they get from customers. It’s going to be a different model, with information as its capital.

Do you have a vision for your industry that you can share?

The vision I have is the industry being seamless and open. A global banking experience in between various countries, whereas a customer can take a loan in Bahrain that they will finance in another country. Being able to avail of services both inside and outside the country.

Do you have any criticism of your industry as it currently is? Confidentiality is one issue that’s always brought up. Although the information needed for a personalized banking experience is similar to what we already share in social media, some people are still skeptical of sharing that information. Millenials have a more lenient mindset towards online privacy. Rest assured, the information we gather is strictly confidential. Another critiscm is how conservative the banking industry tends to be. They have lacked innovation, believeing they had no reason to change. Unfortunately for them, technology continues to move forward and if they do not jump to the trends that come, third-party companies will.

What changes do you expect to the customer experience over the next few years? Biometrics would largely be the only ID we’d ever need. We’d also each have

What challenges do you believe Bahrain faces in the coming years to its status as a regional financial hub, and how should it address them? We have big potential as a financial hub.Currently we have abundant talent here in Bahrain concerning financing. However, we have a long path to cover especially in regulations. We also need to have a transparent e-commerce law. In the digital age, the conventional signed agreement will often be replaced by digital ones. The GCC union is also important in improving integration. One company being able to work within the GCC rather than just one of it’s countries. A unified network with a single body of regulators is efficient and effective. We need the GCC and companies involved in it to be part of the adapting financial ecosystem. Gulf Insider November 2018

Banking & Finance

Arab Bank

Receives 14 International Awards for Its Consumer and Corporate Digital Banking Services in the Region

lobal Finance, a New York-based international publication, has recently granted Arab Bank 14 global awards in recognition of its consumer and corporate digital banking services across the Middle East in 2018. The bank was chosen by a world-class panel of judges, which included experts in consulting, technology, and outsourcing, in addition to the magazineâ&#x20AC;&#x2122;s team of editors. The global recognition complements Arab Bankâ&#x20AC;&#x2122;s significant success record and comes as a result of its constant efforts to deploy the latest digital banking solutions offering customers across different sectors a seamless and responsive banking experience

Gulf Insider November 2018

The global recognition complements Arab Bankâ&#x20AC;&#x2122;s significant success record and comes as a result of its constant efforts to deploy the latest digital banking solutions.

that meets their evolving needs and expectations. The awards for Jordan included: Best Consumer Digital Bank, Best Mobile Banking App (for smartphones and tablets), Best Online Trade Finance Services, Best Online Cash Management, Best Website Design, Best in Social Media Marketing and Services and Digital Bank of Distinction (the best local Corporate/ Institutional Digital Bank). Arab Bank was also named Best Consumer Digital Bank in Palestine and Egypt, in addition to Digital Bank of Distinction (best local Corporate/ Institutional Digital Bank) in Qatar, Bahrain and Lebanon. On the regional level, Arab Bank received the awards for Best Website Design and Best in Social Media Marketing and Services in the Middle East for 2018. Arab Bank was selected for these awards based on several factors including: strength of strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives and web/ mobile site design and functionality. It is worth mentioning that Arab Bank received several international awards and recognitions from reputable international parties, most notably the award of Best Bank in the Middle East for 2018 from Global Finance (for the third consecutive year) in addition to Bank of the Year Award in the Middle East for 2017 from The Banker Magazine - Financial Times, London.

147, Gudaibiya 147, GudaibiyaAvenue, Avenue, Manama, Manama,Kingdom KingdomofofBahrain Bahrain Tel+973 Tel+9731774 17742544 2544 sales@nationalgroupbahrain.com sales@nationalgroupbahrain.com www.nationalgroupbahrain.com www.nationalgroupbahrain.com

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Banking & Finance

Interview with AFS CEO

Mr. B. Chandrasekhar

ho are AFS?

AFS is the leading payment solutions provider and FinTech enabler in the Middle East and Africa region. We offer innovative and end-to-end payment services and solutions that span card processing, merchant acquiring, FinTech and a state-of-the-art value-added services suite. Our history, and experience, extends over 30 years, and we serve over 75 clients across the financial sector in more than 21 countries.

What is your mission with the company? I have been CEO of AFS since 2011. Over the past seven years, AFS has grown from strength to strength, continually introducing, and embedding, technology-driven payment solutions into the market. Every single solution delivered by AFS aims ultimately to simplify how transactions are carried out. Our business is built around three pillars, our core business (card processing), FinTech and merchant acquiring. Across these three pillars, our solutions disrupt and challenge the way traditional financial landscapes operate and function, while empowering our partners and end users (you and me) by providing them with greater control, access and information about how transactions are conducted. We are shaping the future of payments: anytime, anywhere and anyhow.

What hurdles do you face in achieving your aims?

Mr. B. Chandrasekhar, AFS CEO

Our focus in 2018 and beyond is to continue to introduce and embed technology-driven payment solutions that disrupt.

Obviously we face some challenges. AFS is focused on introducing innovative payment products and cutting edge FinTech solutions that support governments on their trajectory towards a digital economy. We are fortunate in Bahrain, and within the MEA region, to operate in environments where going cashless, for example, is supported across all levels. However, is there a full understanding and appreciation of how our financial landscapes are evolving and where they will be in the next 5 years? The challenge is in changing perceptions and mindsets so that key players in the financial sector recognize the opportunities we afford and embrace the change that they represent. AFS has been fortunate, in our 34 years of operations to consistently align with forward-thinking businesses that see the opportunities AFS provides and are eager to tap into them.

What have been your 2018 Highlights? Our focus in 2018 and beyond is to continue to introduce and embed technology-driven payment solutions that disrupt. 26

Gulf Insider November 2018

Banking & Finance

We have always believed that disruption is a catalyst of change and greater opportunity and we are eternally optimistic about what lies ahead. We’ve delivered several firsts in the market – across the many countries we operate in. In 2018, AFS introduced bwallet to the region - the first mobile

(From left right): Mr. B. Chandrasekhar, AFS CEO, Mr. Sael Al Waary, AFS Chairman (center) and Mr. Abdulla Al-Raeesi, Deputy Group CEO-Retail Banking, Ahli United Bank. Taken during the signing ceremony with AUB bank to launch their merchant acquiring business in Bahrain.

wallet facilitating peer-to-peer and cashless transactions. Today, bwallet is an award-winning finance solution that has established itself as the market leader with a significant user and merchant footprint across the Kingdom of Bahrain. EasyPay was another first from AFS - Bahrain’s first NFC payment service allowing payments with a tap of the mobile. Other innovations rolled out by AFS have been electronic KYC, Peerto-Peer (P2P), Peer-to-Merchant (P2M), QR enabled payments, Tokenization, Remittance, WPS and Digital Banking solutions. 2018 also saw AFS launch world class payment acceptance solutions to the market through our merchant acquiring services to banks in both Bahrain and the Sultanate of Oman. Our stateof-the-art Android POS devices offer market-leading technology that supports international and domestic payment schemes and FinTech payment options

including contactless cards, NFC, QR and bwallet.

How would you describe the industry in which you operate? AFS has, since its establishment, been a business built on an awareness of not only the financial sector, but where technology can merge with finance for greater capabilities, solutions, convenience etc. We are attuned to the industry and the latest technology solutions that are emerging in it. We are also equally attuned to the markets in which we operate, and the many, very distinct solutions needed in each market. At AFS all our solutions are tailored to our individual client needs and what regulatory authorities and governments envision for specific countries. Simply: digital has become mainstream – and this is a fascinating development that represents so much opportunity across the board. This is reflected in the evolving AFS offering which sees us continue to deliver our end-to-end payment services and solutions for the banking sector, while also expanding our FinTech business by introducing state-of-the-art FinTech products and launching into the merchant acquiring business with market-leading technology.

What about Bahrain as a Regional Financial Hub? Bahrain has a great advantage because on a government level, and from a regulatory perspective, we are taking great strides towards strengthening our positioning as a regional financial hub and broadening how we envision the future of the financial sector. Today Bahrain is not only discussing opportunities to leverage InsurTech, RegTech, FinTech and Islamic FinTech, we’re activating solutions for all these areas. We are embracing all the possibilities in the market and that is a promising indication of where we will be in the coming years.

Gulf Insider November 2018

People & Culture

What’s Bahrain doing to woo tourists?

Gulf Insider discusses tourism with Jerad Bachar, Executive Director of Investment Promotion - Tourism, at Bahrain’s Economic Development Board (EDB)

hat is the EDB’s strategy for developing Bahrain’s tourist industry?

We work with large investors from an economic standpoint. We make sure nearly every real estate developer and land owner who have interest in Bahrain can have their projects align with where the country is going. We help them know where the gaps are. We make sure they know how the market is, providing data analysis and evaluation. Providing them info on how to maximize

Gulf Insider November 2018

business sustainability, development, and expansion, helping them to be more successful. We also advise investors to get interested in the tourism sector to start and run projects. Beyond that, we also work with investors and government entities to streamline registration and licensing processes during the realization of a project.

What challenges do you face in implementing the strategy? There are two challenges that we

face. One is the constant struggle in obtaining new and improved data sources. We make sure that whenever or whatever developers choose to invest in, they have the information they need to make sound business decisions. We work a lot with the IGA, the tourism authority, and other sources in delivering statistical data that is as precise as it should be. The other is the oversaturation of certain markets. Real estate developers are very much wanting to build projects that have a sustainable return mechanism. We are looking for projects

People & Culture

that can be added to their portfolio and be beneficial to the market, not just assets that replicate what’s already in it.

How will you judge the success, or otherwise, of your strategy? As an economic development promotional agency, we have two goals. One is economic development and the other is job creation. We look for sustainable increase in the economic contribution of tourism in Bahrain’s

is. We need to raise our profile and bring awareness abroad of what Bahrain is all about. Diversifying the market and the tourists is a start. Gulf Air has a keen interest to carry more passengers. Restaurants want more customers. Retail companies want more customers. We seek a collaborative branding standpoint with all our stakeholders in making sure we work together towards our new source markets.

How do you respond to the common complaint that Bahrain is an island yet has few quality public beaches? A lot of our developers have taken on the obligation that they need to have an accessible public beach. If you look at the development of the island going on the tourism sector, it is going in that direction. In terms of residential and tourism, a public beach would be beneficial.

How important is the restaurant sector for Bahrain’s tourist industry?

One of the biggest challenges that Bahrain has as a country, tourism and otherwise, is that there isn’t a general understanding of what Bahrain is.

economy. In addition to our strong Bahraini workforce, our ability to import labor is relatively easy compared to other GCC countries, cost of doing business is lower too making it a very attractive place for companies to invest. Alongside that goal is creating a strong pipeline of valuable jobs for Bahrainis in the tourism sector. It is important for the local people to know that jobs are abundant in the tourism factor.

What advantages and disadvantages does Bahrain have as an international tourist destination? The tourism authority had done a lot over the last couple of years to advance their focus on markets outside the GCC. They’ve opened international offices in markets where Gulf Air has direct access and they’re investing a good amount of money and activity to build awareness. One of the biggest challenges that Bahrain has as a country, tourism and otherwise, is that there isn’t a general understanding of what Bahrain

Absolutely important, when we measure the economic contribution of tourism for Bahrain there are two activities which are measured which include hotels and tourism restaurants. Restaurants are a major contributor of the countries tourism economy and overall offering.

Any last words? I think it’s an exciting time. Bahrain is going through a renaissance on the tourism sector. As we sit here today, there’s about $10 billion of assets being developed. This includes billions going through the construction of the airport and a plethora of retail centers, resorts, and the likes. All of these new assets mean that there is an ability to attract a large number of consumers. Now is the time to make sure that the destination continues to work in tandem with its supply and make sure we are marketing the country the right way. We just have to continue to work to bring all of it together. Meeting and engaging the local people, the tourists, and the market. There is still a story to be told of Bahrain, and we have to tell that story. Gulf Insider November 2018

Money & Business

always be what to look for especially in the security industry. G4S, being a multinational company and a global brand, ensures that international and local standards is protocol in order to provide the best quality of products and services to their customers. From site risk assessment to after sales support, customer will have peace of mind and see concrete results in the value of their investment in the long run. Their new Cash Centre caters to bulk cash processing for banking and finance sector. An impressive fleet

G4S plays an important role in society, trusted to care for and protect people and assets across the globe.

Quality Security G4S guarantees assets safety in an ever-changing economy.

4S offers a wide range of services specialising in outsourced business processes and facilities where security and safety risks are considered a strategic threat. Their expertise is in the assessment and management of security and safety risks for buildings, infrastructure, materials, valuables and people. G4S

Gulf Insider November 2018

plays an important role in society, trusted to care for and protect people and assets across the globe. It is a big responsibility and one which they take very seriously. As inflation rate increases year on year and VAT implementation comes across the Middle East, securing property and assets is coming to be a top priority of companies. Quality will

of armoured vehicles is available to efficiently and safely transport the cash needed for your company. They offer flexible time schedules for emergencies and can transport large sums of cash in-demand. G4S also takes full responsibility in cash transactions, ensuring the safety of your employees, operation, and investment. G4S is continually growing and maintaining competitiveness in the security industry. Expansion plans such as opening of new guarding and facilities management, cleaning services and manpower recruitment are in process and expected to start firstsecond quarter next year.

For more information, call Tel. +973 1771 4409

People & Culture

Simplifying Lives Careem secures first close of US$500 million investment round.

ecently, Careem has secured US$200 million led by existing investors like Al Tayyar Group, Kingdom Holding, Rakuten and STV in the first close of a new fundraise expected to exceed US$500 million. Careem plans to accelerate its mission of simplifying the lives of people in the region by expanding into mass transportation, deliveries, and payments through this fundraising. In October this year, Careem also launched a mass transportation service in Egypt and in February, acquired Dubai-based RoundMenu to expand its delivery services into food. Mudassir Sheikha, CEO and cofounder of Careem said: â&#x20AC;&#x153;Internetenabled services are having a profound and positive impact on our

As a platform with 30 million users and presence in 120+ cities, Careem is uniquely positioned to tap into this opportunity by expanding into new verticals.

region, where the consumer internet opportunity is huge and untapped. As a platform with 30 million users and presence in 120+ cities, Careem is uniquely positioned to tap into this opportunity by expanding into new verticals. We are delighted and grateful that our existing investors are the first to commit additional capital in support of our vision.â&#x20AC;? Careem is the leading internet platform in the greater Middle East. Established in July 2012, Careem now operates in more than 120 cities across 15 countries and has created more than one million job opportunities in the region.

For more information, visit www.careem.com @careembah Gulf Insider November 2018

Money & Business

KALAAM TELECOM ACHIEVES AWS STANDARD TECHNOLOGY AND DIRECT CONNECT PARTNER STATUS

alaam Telecom, a leading managed solutions provider for businesses across GCC and international markets achieved Amazon Web Services (AWS) Standard Technology and Direct Connect Partner status. This achievement qualifies Kalaam to provide AWS cloud portfolio to its customers along with private and secure connectivity to AWS cloud from any part of the world. Enterprises and governments wanting to deploy critical, real-time and core applications on cloud are often challenged by the non-deterministic performance, diminished security, lack of reliability and QoS capabilities associated with accessing via public internet. AWS Direct connect resolves this issue by providing ondemand, reduced network latency, increased bandwidth performance, enhanced data security and deliver resilient network experience with unparalleled customer satisfaction. Customer can avail this high-performance cloud connectivity service to transfer data between AWS cloud and customer datacenter, office, or colocation environment with the help of Kalaam’s resilient global data network via its 16 fully managed Point of Presence (PoP) across the globe. Commenting on the achievement, Veer Passi, CEO, Kalaam Telecom said, “Amazon Web Services (AWS) is one of the most successful cloud platforms, that has been adopted by a myriad of organizations worldwide. This partnership reasserts Kalaam Telecom’s strategy to accelerate digital transformation and further enrich the country’s digital vision. It recognizes the need for helping enterprises handle rapid data growth within tight budgets and enables us to take a more flexible, agile and innovative approach to cloud based deployments. Plus, the AWS platform is very secure; it doesn’t limit capacities and can scale to meet demand. This achievement also boosts Kalaam Telecom’s cloud solution portfolio thereby also solidifying its position in the ICT and cloud managed service space.” 32

Gulf Insider November 2018

Property Finder Bahrain Announces Rebrand

ropretyfinder.bh has announced a completely new and refreshed look, due to a group-wide rebranding. The unveiling of the new brand and logo took place at a special networking event at the Ritz Carton, which was attended by a number of industry leaders, as well as regional management and representatives from the Property Finder Group. Property Finder’s mission is to motivate and inspire people to get living the life they deserve, and this has been embodied in its new brand statement: Unlock Your Potential. “Our belief is that whenever you use us, we help you open the door to unlocking new opportunities, allowing you to unlock a better future through finding your next home,” commented Monsi Rabah, Regional Director of the Property Finder Group. Beyond the look and feel, Property Finder wanted this new brand identity to be a reflection of what they stand for, and what they strive to deliver to all house hunters in the region. As a company, Property Finder have always put users at the forefront of their innovation and strategy. “This is a very exciting time at Property Finder, and we are excited to be announcing our new identity,” continued Rabah. “This is a true tribute to our growth, and as well, our promise to continue developing in the market, which our new identity will allow us to do.” In all, the new brand embodies the essence of a company that is reinventing itself, but is still very committed to its clients and end-users. This new look is built upon years of success and innovation in the real estate market and also opens doors to the future. Propertyfinder.bh, Bahrain’s leading property portal witnessed a whopping increase of 145% in the number of visitors between 2017 to 2018, and an increase of 91% in the amount of leads delivered in the same period.

Say hello to a whole new way of feeling welcome.

Lifestyle

good reason. Well you know, I’ve been working with Nespresso for almost 15 years now, and the thing that I always loved that they did was they were really conscious about recycling, and they’ve really made it as easy and convenient to be able to recycle, and I applaud them. I’m very happy and very proud to work for the company because of that.

Can you talk to me about the work with farmers around the world?

George Clooney

GEORGE CLOONEY INTERVIEW

The following questions & answers with George Clooney were captured during his interview on the set of ‘The Quest’, the latest Nespresso campaign shoot.

hat’s it like living in England?

GC: I love everything about living in England, except the weather. I like the people. I like the culture. I like where we live. I like all my neighbors, but man, I went through six months without seeing the sun.

What’s a typical morning in the Clooney household? GC: I wake up, the kid’s diapers are changed. Actually, they change my diapers, and then I make coffee for my wife and myself— we start the day off with a little Nespresso in the morning. Then we actually go to work, because now I have to pay for these children that I have. They’re expensive, you know, they need bottles and all kinds of things. They’ve got to go to school at some 34

Gulf Insider November 2018

I’ve been working with Nespresso for almost 15 years now, and the thing that I always loved that they did was they were really conscious about recycling. point, I hear. I didn’t, and it worked out fine for me.

What is your opinion on recycling? GC:There has been a lot of discussion about waste and recycling lately and for

GC: Well, there’s a lot of things they do. Part of it is helping to train the farmers to use shaded trees to be able to use less water. There’s a great version of how to make the farms themselves sustainable in a way that they can produce a better crop and be able to continually produce it year after year, and make more money for themselves, for the farmers, which creates an eco-structure inside for these families. Just the idea of working on retirement plans for the farmers is unbelievable, because nobody does that.

Why should people choose Nespresso? GC: Why should the world choose Nespresso? People today, they pay more attention to the environment and to sustainability than my generation did, but you still have to have a good product. You know, you can do a lot of good things, but you have to, first and foremost, put out a good product, you know?

The ad campaign is called ‘The Quest’. Why? GC:: It’s called ‘The Quest’ because we thought that would be a funny name for a movie. You know, the fun part is, I always get to play sort of some version of a bit of a mess along the way, and this one. It’s a funny thing, the older I get the more they seem to make me the dumbest person in the room, but this time I’m in search of coffee.

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Lifestyle

Five years later, the watchmakers from the Nyon manufacture have reworked the structure to offer us an all new Unico movement that is slimmer, giving it perfect dimensions for the 42-mm case of the new Big Bang. Introducing the calibre HUB1280. Just like its big brother, it keeps its double clutch mechanism and its column wheel can still be seen from the dial side. But, thanks to the removal of the platform escapement and the introduction of a new, flatter, selfwinding system, it is 1.3 mm thinner (for the same 30-mm diameter). Building on the styling, reliability and robustness that made the HUB 1242 (8.05mm thick) such a success, the architecture of the new HUB1280 (6.75mm thick) has been entirely

HUBLOT

BIG BANG UNICO 42 mm Hublot Big Bang watch with a Unico manufacture movement now redesigned to have a diameter of 42 mm.

n 2010, Hublot launched its new manufacture movement, the Unico chronograph, which was fitted in its iconic Big Bang model in 2013. A really Big Bang! Fully designed, developed, machined and as-sembled by Hublot’s own engineers, micromechanics, and watchmakers, this chronograph move-ment went under

Gulf Insider November 2018

the endearing codename of calibre Unico HUB 1242. This flyback chronograph, which can be reset at any time, is one of a kind in the industry. It stands out because of its double clutch mechanism and column wheel which can be seen from the dial side also having a removable platform escapement.

New HUB1280 has been entirely redesigned to facilitate its assembly and improve the wearer’s view of its operation through its dial and its windowed back cover. redesigned to facili-tate its assembly and improve the wearer’s view of its operation through its dial and its windowed back cover. Technical innovations for which four different patents have been filed, including an oscil-lating seconds clutch and an adjustable ball-bearing chronograph friction system. The total number of components has increased from 330 to 354 parts; the new calibre having 43 rubies compared with 38 in the previous model. The Pellaton selfwinding system has been replaced by a double reversing switch with ballbearings. The power reserve remains the same at 72 hours.

Lifestyle

L.U.C Perpetual

T Spirit of ‘La Santa Muerte’ Chopard’s artisans celebrate Santa Muerte (the patron saint of death) through a one-of-a-kind timepiece.

n tribute to the culture of Mexico, Chopard introduces an exceptional new timepiece named the L.U.C Perpetual T Spirit of ‘La Santa Muerte’. Entirely hand-engraved by the artisans of Chopard Manufacture, its gold case and dial are adorned with motifs typical of the Día de Los Muertos (Day of the Dead), which is generally celebrated as this saint’s feast day. Inside it, beneath the death mask, beats a supremely sophisticated calibre: a perpetual calendar tourbillon with a nine-day power reserve. This one-of-a-kind model will be presented to collectors at the SIAR, the prestigious watch show held in Mexico City in October 2018.

Catharsis The gold dial features the stylised Mexican Calavera skull, dotted with sun and floral-themed patterns. The tourbillion bridge appears as a moustache above a gentle grimace, and the perpetual calendar counters are sunny eyes.

Mechanical exclusivity This exceptional timepiece houses one of the most prestigious combinations and features a nine-day power reserve achieved by the four barrels of the Quattro system. By spinning constantly around its axis, the tourbillion releases the watch from the effects of gravity. The L.U.C Perpetual T Spirit of ‘La Santa Muerte’ has successfully undergone the stringent COSC test procedure, as confirmed on the dial by the Chronometer inscription, a noble attribute to which Chopard co-president Karl Friedrich Scheufele is strongly attached. Gulf Insider November 2018

Lifestyle

Grand Seiko Collections

Ambassador Stores, the official dealer of Seiko Watches in Bahrain, has two unique collections in store.

Grand Seiko Heritage Collection The latest Grand Seiko Heritage Collection is contemporary and refined, with design elements in seamless harmony. The Heritage Collection is true to Grand Seikoâ&#x20AC;&#x2122;s values of extraordinary craftsmanship, precision and beauty. The unique design is powered by Spring Drive, Grand Seikoâ&#x20AC;&#x2122;s unique caliber, which combines the motive force of a mainspring found with the high precision of a quartz watch. The case and bracelet are made with high-intensity titanium, providing a scratch and corrosion resistant finish, making it 30% lighter than stainless steel and a pleasure to wear. The blue steel second hand moves smoothly in glide motion, and glows over the contrasting pure white face to create an even more dramatic movement. It has a 72-hour (3-day) power reserve, and a power reserve indicator on the bottom left of the dial.

Grand Seiko Sport Collection

Contact: Ambassador Stores; 141, Government Avenue, Manama 304 , Tel: 1722 5513 38

Gulf Insider November 2018

Combining cutting edge technologies and robust construction, the Sport Collection offers watches of superior functionality and durability. This professional diverâ&#x20AC;&#x2122;s model features Caliber 9S85 which has a precision of +5 to -3 a day. It is built to withstand pressures encountered in saturation diving, down to a depth of 600 meters. The grooves on the rotating bezel ensure a firm grip even with thick diving gloves. Luminous markers at every ten second point on the dial ensure the legibility on which the safety of the deep sea diver depends. Every component is built to last, but all divers know that their watch needs regular maintenance, just like every other device on which his or her life may depend. This is why the case, stem and crown are designed for secure servicing and even the bezel has a four-part design that makes for easy disassembly and re-assembly. The dial is made of pure iron in order to protect the movement from the harmful effects of magnetism. It delivers safe and secure use during diving and, thanks to the lightness of the titanium, every-day usability is also assured. It has the distinctive clean edges and distortion-free mirror surfaces that only Zaratsu polishing can deliver.

Lifestyle

LO SCIENZIATO LUMINOR 1950 TOURBILLON GMT TITANIO – 47mm A new version of one of the most surprising creations of the Panerai manufacture: Lo Scienziato with a 3d-printed titanium case and the P.2005/T skeletonised movement with tourbillon regulator.

his is undoubtedly one of the most innovative and surprising creations of the Panerai Manufacture in Neuchâtel. Presented in 2016 as the first implementation of this technology for a mechanical timepiece, Lo Scienziato is now available in a new version which still has all the characteristics of its predecessor but with a slightly revised appearance. In the new model the blue of the hands, harmonising perfectly with the

metallic tones of the titanium case, is also used on the flange and in the sewing of the black leather strap, giving the watch an even sportier appearance, perfect for this creation with such a high level of technical content. The lightness of the new Lo Scienziato is truly remarkable, particularly considering its wealth of features: hours, minutes, small seconds, GMT with am/pm indication, a power reserve of six days with indication of the power remaining on the back, and a tourbillon escapement.

The secret of its lightness lies in the ingenious work of minimalisation carried out by the Laboratorio di Idee of the Panerai Manufacture in Neuchâtel on the case and on the sophisticated P.2005/T movement, to design a watch with the typical Panerai characteristics but with a substantially lower weight.

For more information, visit The Panerai Boutique located at Moda Mall or call Tel. +973 1743 1166.

Gulf Insider November 2018

Money & Business

Golden Gate

Prestigious Landmark Lands at Bahrain Bay Gulf Insider interviews the pillars that brought the much anticipated and epitomized real estate development in all of Bahrain. Ishaq Rashid Al Kooheji Chairman, Kooheji Golden Gate Real Estate W. L. L.

an you tell us briefly about the inception of Golden Gate project? How did this grand idea come about?

The name â&#x20AC;&#x153;Golden Gateâ&#x20AC;? was developed on the basis of our mutual admiration to the Golden Gate Bridge in San Francisco. The resonance behind the name reflects on creating a bridge between people and what Bahrain has to offer. With Golden Gate, we wanted to 40

Gulf Insider November 2018

With Golden Gate, we wanted to change the landscape of real estate by creating a grand, elegant and modern residential development. change the landscape of real estate by creating a grand, elegant and modern

residential development. When Mr. Ajmera and Mr. Shah approached us once they purchased the land in Bahrain Bay, we were delighted to start working with them. Kooheji Golden Gate has been in the industry for many years, giving us the experience and knowledge about the industry, leading to our partnership with Ajmera Mayfair to create our joint venture. We appreciate how their aspiration and vision were in line with ours for this project. We at Kooheji Golden Gate, along with our partners at Ajmera Mayfair, aim to build more than homes, but communities where our residents can enjoy what development Bahrain has to offer.

Money & Business

my partners for development projects such as Golden Gate, has been one I follow continually. I would conduct my research about them and their reputation, making sure they are well praised and follow the codes of conduct within the industry. I then would evaluate their track record in terms of the quality and the delivery to their

views of the sea and landscaped gardens, the first of its kind in the world. It will be a project that will give a new meaning to living in a new era of urbanization.

Manoj Ishwarlal Ajmera Managing Director, Ajmera Realty & Infra India Ltd. What made you decide to partner with Kooheji Golden Gate Real Estate W. L.L.? Kooheji Golden Gate and the Kooheji family are a well-respected company in Bahrain. They have been in the industry for an impressive number of years, which is apparent in their extensive knowledge in the industry and the market. Their history and experience has given us the confidence and encouragement to work with them in this new venture. Mr. Nayan Shah from Mayfair Housing, informed me about a development called Bahrain Bay, praising the area to be the best. Bahrain

What pushed Kooheji Golden Gate Real Estate W. L. L. to develop this project at Bahrain Bay? Bahrain Bay is one of the most sought-after and desired destinations in Bahrain, making it incredibly high in demand. Bahrain Bay is in the heart of Manama, with amenities such as the malls in the Seef District and the newly built Avenues Mall, filled with restaurants and international brands. Transportation is in close proximity with the Bahrain International Airport and the Saudi Causeway. It is comfortably in the centre of it all. Golden Gate will distinguish itself in between these buildings, having enviable views of the sea and landmarks surrounding it. The waterfront that Golden Gate will be built on is one of the many reasons why buyers have swiftly come and purchased their apartments.

What have been your criteria for selecting your strategic partners for this project? The criteria I follow for selecting

clients, buyers and investors. After that, I assess their expertise and how they compliment the development world by increasing efficiency, quality and successful delivery. Then, I look at their company ethos and philosophy, assessing our compatibility, as well as how they are able develop and improve the community in terms of lifestyle, costs and investment. Being aware and knowledgeable in the international market is a key advantage that I would look for in a partner, for future projects abroad. Finally, being a family business we uphold certain values that are deeply rooted in our philosophy, and finding a partner that possesses the same mindset is a key factor that I look for.

Do you have any major projects lined up in the near future? Yes, we are currently working on a few projects that will be announced in due course. One project that is in progress will be a new development called The City, an exclusive development that will be located in the centre of Bahrain, consisting of beautiful

Golden Gate promises to become a one of kind development with state of the art facilities. Bay has also been compared to the worldâ&#x20AC;&#x2122;s best water bay developments such as Canary Wharf in London, UK and JBR in Dubai, UAE, impressing me further.

The Golden Gate project aims to be the highest residential tower in Bahrain. Aside from being a landmark, what else do you plan to achieve with its establishment? With Golden Gate, we are hoping for it to become the leading example and standard of what luxurious, modern living can become in Bahrain and the region. Golden Gate promises to Gulf Insider November 2018

Money & Business

become a one of kind development with state of the art facilities. The facilities and amenities at Golden Gate are incomparable to other developments in the country, epitomizing the essence of luxury and modernity. The design and architecture of Golden Gate is impeccably finished with elegant interior designs, a fusion of Bahraini

years, and we have many projects to our name. At the present, we are working on development projects in different parts of India that take up approximately 25 million square feet. Apart from Golden Gate, we are simultaneously working to develop 5 new projects in London, England.

they presented to us, and instantly knew it would be the right decision to invest and work together. With all of our knowledge, skills and experience combined and Mr. Ishaq Al Kooheji’s understanding of the market, it was the ideal place for our first overseas venture. The location is another reason why we chose Bahrain. Bahrain Bay is home to a number of prestigious international companies who will be our neighbors. Bahrain Bay is in the right place, has the right neighbors and the right management. Our choice was simple and instant. Golden Gate will be a one of a kind residential development, incomparable to what is already available here in Bahrain.

The nature of residential developments now is rapidly changing. As a developer, how do you respond to this fast and unpredictable change?

and Indian architecture. Cultural cues can subtly be found throughout the development as a way to represent both cultures in a modern, elegant and sophisticated way.

What makes Ajmera Realty & Infra India Ltd. stand out? Ajmera Realty is one of the leading real estate developers in India, with more than 50 years experience in the industry. We have a wide range of skills and knowledge in construction and development that we could offer to create Golden Gate with Mr. Ishaq Al Kooheji and Mr. Nayan Shah. We have taken challenging projects from its early stages to its successful completion, showcasing our abilities to transform projects into outstanding residential developments, gaining the trust and confidence of our investors as well as our partners.

What projects are you currently working on? We have been creating and involved in the real estate industry for the last 50

Gulf Insider November 2018

Nayan Arvind Shah Chairman, Mayfair Housing Pvt. Ltd What made you decide to partner with Kooheji Golden Gate Real Estate W. L. L.? I had the pleasure of meeting both Mr. Ishaq and Mr. Anas Al Kooheji

People are always looking for “value for money” which we believe is given and provided to the buyers of Golden Gate. during my visit to Bahrain to discuss the project. I was very impressed with their philosophy and how aligned it was with our own. We both come from our family businesses and believe in the belief of honesty, transparency and respect. I was fascinated with what

The real estate industry is constantly changing and developments are relentlessly competing with each other and becoming the best at what they do. Although, I believe there is a silver lining in the residential development scene at the moment. People are always looking for “value for money” which we believe is given and provided to the buyers of Golden Gate. We felt the need to create something that is truly iconic and unique to Bahrain, that was our strategy and aim, and I am certain that it will be beneficial for all parties involved.

What’s next for the Mayfair Housing Pvt. Ltd in Bahrain? As of now, Mayfair Housing is solely focusing on the development and launch of Golden Gate in the upcoming weeks. Our concentration and efforts are to ensure the smoothness of the launch and presentation to our buyers and potential buyers coming to see what we have to offer at Golden Gate. We hope to be as efficient as possible in all our dealings, and to be able to deliver the project on time, with the excellent quality that was promised to our buyers. I am pleased and honored to be a part of an experienced, innovative and intelligent team on this extraordinary development.

People & Culture

5th Biennial Bahrain International Airshow (BIAS) From 14th until 16th November

ith a 60% increase in company participation, 75% growth in visitors and just over 90% growth in terms of economic impact since its inception, the 2018 edition is set to be the biggest and most successful yet, bringing some of the world’s leading and most influential organisations to the Sakhir Airbase. Global aviation leaders such as BAE Systems, Lockheed Martin, Boeing, Airbus, Gulfstream, as well as Turkish Aerospace Industries (TAI), Russia’s ROSCOSMOS, and country pavilions from KSA, UAE, Romania, the USA and more will come together in Bahrain in a custom B2B environment designed to facilitate business generation, connections, innovation, inspiration and education. BIAS is part of the Ministry of Transportation and Telecommunications’ holistic strategy to develop the aviation industry. Established as a unique, commercially-focused event that reflects the Kingdom’s core attributes as a place to do business and access the $1.5 trillion Gulf market, with doorstep access to the GCC’s largest market, the Kingdom of Saudi Arabia, BIAS serves

as a platform for investment attraction into the Kingdom. At the 2016 show, key contracts were signed for the Airport Modernization Programme’s new passenger terminal building, as well as the signing of deals to purchase Gulf Air’s new fleet of aircraft, both of which are important steps in moving Bahrain forward. This year the show will host a threeday military and commercial delegations programme, a focused conference programme, on-floor knowledge theatre, and an exhibition hall that is double the size of that at previous editions, driven by strong demand by participants. The conference programme includes the 2nd biennial Manama Air Power Symposium, which brings together air force chiefs and leading experts to address emerging threats across the region; the Airport Conference Into the Future: Challenges and Opportunities for Gulf region Airports and Airlines which will be held on the 2nd day of BIAS2018 and the Women in Aviation conference, which will focus on the issues affecting career development for women working in the industry. The flying and static aircraft display is a key feature of BIAS and one of

the show’s biggest attractions. An estimated 100 aircraft displayed on the runway at Sakhir Air Base enables visitors to get up close to a wide variety of aircraft. The Flying display enables participants to demonstrate their aircraft’s capabilities, flying alongside military aerobatic display teams. This year’s show will host for the first time, Italian flying team Frecce Tricolori, who will be flying with 9 aircraft in formation and 1 solo. With Bahrain’s space science program newly launched, this sector will be showcased with participation from the UAE and Russia’s space programs. In addition, through its partnership with Kallman Worldwide, Inc., who are organising the US Partnership Pavillion, Apollo 15 Command Module Pilot, Col. Al Worden, USAF-Ret. one of only 24 people who have flown to the moon, will be visiting Bahrain during the show and participating in a program of lectures for students and professionals.

For more information about the Bahrain International Airshow 2018: www.bahraininternationalairshow.com

Gulf Insider November 2018

Money & Business

The Man Behind

The Merchant House Gulf Insider meets Gordon Campbell Gray

Gulf Insider November 2018

Money & Business

The location, so close to the souq, was deliberately chosen; “it’s always special when you stay in a hotel and can wander around and discover places without having to take a taxi”.

ordon Campbell Gray is dressed casually for our meeting – navy suede lace-ups, open neck shirt and fitted blazer. On his wrist he wears an Omega Speedmaster on an aged leather strap. The relaxed Scotsman is the founder of Campbell Gray Hotels, which owns and manages luxury boutique properties in Scotland, Beirut, Zurich, Malta, Liberia… and from next month, Bahrain. The Merchant House, located close to Bab Al Bahrain, features 47 suites

One surmises that this DNA is his own philosophy about life. He tells us how much he hates waste, and how he is dismayed with the level of waste he experiences on his travels while staying at luxury hotels. Instead, he seeks to provide great guest experiences without needlessly squandering resources. He’s delighted that people, particular younger people, are growing ever more aware of the importance of protecting the environment, although he feels those from the Middle East seem ‘a bit behind

over 8 floors. A restaurant, bar, and a swimming pool are located on the roof. The location, so close to the souq, was deliberately chosen; “it’s always special when you stay in a hotel and can wander around and discover places without having to take a taxi”, he says. Campbell Gray believes that small is beautiful in an industry that he tells us has the opposite view and just keeps expanding. “There’s an attitude of big is always better in the hotel industry. It’s all about growth. Brands want to keep expanding. But how does growth make a brand better?” he asks. He believes the traditional concepts of luxury have become tedious and clichéd, and that there’s a major shift in opinion underway, with people moving from big brands to smaller and more creative companies offering authenticity and that are focused on catering to individual tastes. Campbell Gray is proud that every property within his group is unique, though with a ‘shared strand of DNA’.

the curve’. He abhors fashion – or rather fashion for fashion’s sake, and he’s happy to be considered unfashionable but authentic. A highlight of The Merchant House will be its art collection, with works by Andy Warhol and Roy Lichtenstein alongside works by local Bahraini artists. He tells us that he just purchased a piece by Bahraini artist Abdul Rahim Shareef and had probably spent far too much on it. On asking how much he paid, he replies its best he doesn’t say as we would be ‘horrified’. He confesses to being obsessed with detail, and reveals that he originally sought professional art advisors but grew tired of them because they were unable to grasp exactly what it was he required, and so decided to select the art for his hotels himself. So will the art at his hotel be for sale? ‘No’ he tells us. He is not buying art as an investment, but purely to make the hotel beautiful.

Gulf Insider November 2018

People & Culture

The Scenic View of

Royal Golf Club Grass covered sceneries and sparkling blue lakes, The Royal Golf Club isn’t just for golf.

he Royal Golf Club is known for its 18-hole championship green golf course designed by international golfing legend Colin Montgomerie. But for non-golfers out there, the Royal Golf Club has a lot more to offer than its manicured grass. The iconic three-storey club house at the Royal Golf Club is designed in a traditional Arabic style and features an eye-catching wind tower design as its centerpiece. The building houses an impressive range of dining options which are much enjoyed by golfers and visitors along with equipped luxurious showers, changing facilities, adaptable meeting rooms, and The Majlis- a spacious function suite. Their golf shop is also home to the most comprehensive range of golf equipment and apparel in the Kingdom of Bahrain with over 30 leading brands in stock. Beautiful and exclusive venues are available for special occasions such as weddings, conferences and banquets. Nowhere else in Bahrain it is possible to hold a function that offers unrivalled panoramic views of grass-covered scenery and sparkling blue lakes.

Gulf Insider November 2018

Highly qualified food & beverage staff are dedicated to providing world class customer service along with exquisite cuisine to guarantee unforgettable experiences for the guests at this truly unique venue. The Royal Club House offers several options to suit all tastes, from fine dining in the award winning Links restaurant, relaxed family fun in Masbah Pizzeria, to a laid back sports bar: the Repartee. Adjoining the Royal Golf Club’s club house is the brand new Royal Country

Club whose state-of-the-art indoor facilities include ladies and gents’ gymnasiums, a fitness studio, steam room, sauna facilities (male and female) and lockers. The club boasts a team of fitness experts who deliver one-on-one personal training sessions as well as conducting a broad calendar of group classes including yoga, boot camp and circuit training.

For more information, visit www.theroyalgolfclub.com

News Roundup

Saudi: Real Estate Market Among World’s Seven Worst Performers Saar Mall staged a Breast Cancer Charity Event named “TOGETHER WE CAN SPREAD AWARENESS” to raise funds benefiting Bahrain Breast Cancer Society

Saudi Arabia’s real estate market was one of only seven worldwide to register price declines in the second quarter of 2018 compared to the year-earlier period. While the Knight Frank Global House Price Index increased by 4.7 percent on average in the year to June, the property market in Saudi Arabia saw a 1.3 percent fall in prices. Prices in the Gulf kingdom also declined by 1.5 percent in the six months to June and by 0.8 percent during the second quarter itself, Knight Frank’s data revealed. The country was also ranked 55th out of 57 markets analysed, amking it one of the worst performers in the world. Globally, Malta led the index for the first time with a 17 percent annual price increase as central and eastern European countries performed strongly. Knight Frank said all eyes are on Hong Kong (16 percent), Singapore (9 percent) and New Zealand (7 percent) where new property regulations have been introduced in the last three months. The real estate consultancy said in the report: “Only seven countries and territories (12 percent of those monitored) registered a decline in prices in annual terms and no market has recorded a double-digit decline in house prices over the last six quarters. “Five years ago, 30 percent of countries were recording a drop in house prices, and ten years ago, in the wake of the financial crisis, the figure was as high as 70 percent. “Yet despite this improving scenario, at 4.7 percent the index has recorded its slowest rate of annual growth since Q3 2016. Our analysis confirms that whilst fewer countries and territories are seeing a decline in house prices, where prices are rising, they are rising at a more moderate pace.”

Gulf Insider November 2018

Money & Business

Dubai market

slumps amidst major economic challenges

n Dubai’s posh Jumeirah Beach Residence district, luxury apartment rents are down about 15 percent from a year ago – a sign, some fear, that the wealthy emirate’s recipe for economic success is getting stale. For over two decades, Dubai prospered as one of the world’s most international cities, attracting people and capital from across the globe. Nine years ago, it needed a $20 billion bailout from oil-rich Abu Dhabi to escape a debt crisis caused by collapsing property prices. Dubai’s economy roared back and has grown by a third since then, buoyed by foreign trade, tourism and its status as the main regional hub for business services. Now, however, Dubai is hitting another rough patch. Residential property prices have dropped by more than 15 percent since late 2014 and

Gulf Insider November 2018

are still falling. The stock market is down 13 percent this year, the worst performance in the region. Dubai issued 4,722 new business licenses in the second quarter of 2018, down 26 percent from the same period in 2016, the year when new licenses peaked. The falls may be temporary, the result of an economic slowdown in the Gulf caused by low oil prices. But other figures suggest some of Dubai’s traditional growth engines are losing steam, which could mean a long-term slump. Growth in passenger traffic through Dubai’s international airport has fallen to near zero this year, after 15 years of strong increases. Increasingly longrange aircraft may loosen Dubai’s dominance as a travel hub connecting Asia and Europe. Official data shows Dubai’s population

continuing to expand, by 3.5 percent to 3.08 million in the first half of 2018. But most growth in recent years has been in lower-paid construction and services jobs, not in higher-paid white-collar posts. “Perhaps the era when one could move to Dubai to make one’s wealth is passing,” said Hasnain Malik, Dubaibased global head of equity research and strategy at Exotix Capital. He said the city was increasingly attractive as a base for rich people from around the world who wished to enjoy their wealth. But it is not clear that Dubai’s transport industries and business zones can continue growing fast enough to attract, and retain, the number of foreign white-collar workers needed to support demand in its real estate market, Malik said. Economists see little risk of another

Money & Business

financial crisis; after restructuring billions of dollars of debt, Dubai’s state-linked companies are less leveraged than they were a decade ago. Nor has headline economic growth slowed greatly. International Monetary Fund officials have estimated gross domestic product will expand over 3 percent this year. “The emirate continues to attract businesses and investors as a competitive hub for sustainable

business development,” Dubai’s Department of Economic Development said in a statement this week, adding that licensing figures showed “continued investment in all vital economic sectors in Dubai”. But much of this year’s growth is due to a big rise in state spending as Dubai builds infrastructure to host the Expo 2020 world’s fair; its 2018 budget soared 19.5 percent from 2017 to a record 56.6 billion dirhams ($15.4 billion). The government cannot keep boosting spending at that speed indefinitely. Jim Krane, energy fellow at Rice University in Texas and author of “City of Gold: Dubai and the Dream of Capitalism”, said the emirate faced structural challenges including an increasingly tough geopolitical environment. In the past, Dubai thrived by keeping cordial relations with every country

in the region, accepting trade and investment from all of them. That has become impossible. Last year, the United Arab Emirates, Saudi Arabia and other countries cut diplomatic and transport ties with Qatar, ending Dubai’s role as a base for business with the small but super-rich country. Goods that were once shipped to Qatar via Dubai now move via other countries, such as Oman or India;

Dubai issued 4,722 new business licenses in the second quarter of 2018, down 26 percent from the same period in 2016 multinational firms use their European or U.S. offices, not their Dubai operations, to handle business with Qatar. Meanwhile, the United States and Gulf allies, including the UAE, are trying to squeeze Iran’s economy by reducing its financial and trade ties. The effort

is more aggressive than Washington’s previous attempt to isolate Iran several years ago, diplomats in the region say. That matters because the UAE’s exports and re-exports to Iran, the vast majority via Dubai, totaled $19.9 billion in 2017. The chief executive of a foreign financial firm in Dubai said the emirate faced unprecedented competition from neighboring countries for capital, as low oil prices forced those countries to develop their own non-oil industries. Portfolio funds are already flowing from Dubai’s stock market to Saudi Arabia’s bourse. In coming years, direct investment may follow; U.S. oilfield services firm McDermott International has said it expects to move business slowly from Dubai’s Jebel Ali Port to a new Saudi facility by the mid-2020s. Dubai is trying to shore up its competitive position. In the last few months the government has said it will reduce municipal fees, scrap some aviation charges, freeze school costs and take other steps to aid foreign firms and residents. Potentially the most far-reaching reform was announced by the UAE cabinet, chaired by Dubai ruler Sheikh Mohammed bin Rashid alMaktoum. It promised to permit 100 percent foreign ownership of some UAE-based businesses, up from the current 49 percent limit, and grant long-term residency visas of up to 10 years to foreign investors and some professionals. That could make foreign investment in Dubai more attractive and, by helping foreigners plan on long-term residence in the emirate, encourage them to buy homes. But details of the new policy have not been released, and implementing it may be tricky. “Free zones” in Dubai already permit 100 percent foreign ownership; they could suffer if they no longer have that right exclusively. And many UAE citizens make money as silent partners with foreign businessmen. “To some extent, the economy is based on people renting out their passports – disrupting that could cause economic pain among the local population,” the financial executive said. Gulf Insider November 2018

News Roundup

Saudi: School Locked Students In Gym For Unpaid Fees An international school barred about 100 students from entering classrooms and kept them inside the non-airconditioned gym for the whole day. Authorities have launched an investigation into the incident after receiving complaints from parents. The school asked the students to stay away from classrooms for failing to pay their fees, which amounted to SR40,000. Parents have urged authorities through the social media networks to punish the school for taking this unhealthy and provocative action. One parent expressed his indignation over the incident and said, “I have paid 70 percent of the annual fees for my three children. Despite this track record, they have put my daughter inside the gym for the whole day. I want to know who took this decision.” Another parent angrily blasted the action. “We have paid the fees to ensure continuous studies of our children. However, we expected the Education Ministry to intervene to prevent the school from taking such arbitrary decisions that affect the health and dignity of our children.” A third parent spoke about the mistakes committed by the school since the beginning of the new academic year and blamed the ministry for not taking punitive action against the institution. “The school has treated our children like the treatment of workshops with insurance companies. They will hold vehicles until the latter pay for repair works,” he pointed out. The school’s ridiculous action has damaged its reputation, said another parent. “How can we leave our children in the hands of such a school,” asked a parent while speaking to Okaz/Saudi Gazette. The director of the school has expressed her deep regret over the incident and said “it was a mistake. We have closed

Gulf Insider November 2018

that file and parents have expressed their understanding. We have taken action against the official responsible for the incident.” She told parents that the mistake would not be repeated. According to the director, the gym was air-conditioned and the school provided students with food and their condition was good. Hamoud Suqairan, spokesman of the Education Department in Jeddah, said: “The department for private education will investigate the incident and announce its findings within two days. A special committee has been formed for the purpose.” Khaled Aburashid, who is a legal adviser, said the school should not have kept the students in a room preventing them education and freedom. Legal action can be taken against the school if it was proved in the court. “Every student and parent has the right to file lawsuit against the school to get compensation for moral and material damages.” The school has to follow other legal methods to get arrears from parents. Fahd Mahboub, another legal adviser, opposed the school’s inhuman action against students without considering their age and health conditions. The school, on the other hand, has to take legal measures to get upaid fees and other financial dues from parents. “The ministry has urged schools quite often that they should not link between late fees with education. They should not deny students studies and books.” However, he said schools can keep certificates of students and other documents until they pay all financial dues. “In this case, parents will have the right to take legal action against the school to get compensation for moral and material damages caused by the incident,” he added.

People & Culture

Travel Ban British woman, 22, escapes Dubai despite no-fly ban.

British woman handed a three-month jail sentence for assaulting a Swedish man in Dubai avoided prison by getting a new passport and illegally flying home. Asa Hutchinson managed to escape house-arrest despite being put on a ‘nofly’ list by authorities in the Gulf state. The 22-year-old risked everything to return to the UK in June, three months ahead of Monday’s court hearing in which she was convicted in absentia over the 2016 brawl. Ms Hutchinson obtained a new British passport and calmly boarded a plane to London, hoping that border guards would not notice the court order banning her from leaving the UAE. She would have faced further charges if she was caught. Ms Hutchinson now faces immediate arrest if she steps foot in the UAE and extradition if she lands in any of the neighbouring Gulf countries. ‘Asa left via the airport [in Dubai] and was fortunate not to have alerted the system [over the ‘no-fly’ court order],’ a source close to Ms Hutchinson told MailOnline. ‘She was able to do this because she had replaced her passport. This is not usually possible. Ms Hutchinson, who claimed she was only a witness to the fight and the Swedish man threw the first punches,

was charged with assault and theft after the incident on April 29, 2016. She was convicted alongside another man, 26, but the other three members of the group were never charged because they fled Dubai. After the fight, Dubai police questioned Ms Hutchinson’s boyfriend Ben Hall and others in the group after getting their names from the hotel reservations list. The men managed to get their passports back by paying cash deposits, before flying home to the UK. The Swedish man then made the decision to transfer the charges to Ms

Hutchinson after learning she lives in the UAE. Dubai law dictates that whoever makes the first complaint is the party most likely to be believed, so it may be irrelevant that the Swedish man threw punches. Taking pictures of someone without their consent and being rude to another person are both classed as Illegal in Dubai and are punishable by jail time. It has become an increasingly common occurrence for foreigners to be convicted in absentia in the UAE, particularly when the evidence against them is weak or non-existent; as they are denied the opportunity to defend themselves, Detained in Dubai claims. Ms Hutchinson earlier lost her job after the incident and authorities seized her passport. It was previously reported Ms Hutchinson was forced to sign confession papers written only in Arabic or be jailed immediately, her lawyers claimed. Her representatives said she was put under ‘extreme pressure’ to sign lengthy legal papers written only in Arabic when she was arrested last April. In a statement previously released, Ms Hutchinson said: ‘I was told to sign the papers, or I would be going straight to prison. ‘By this stage I was terrified. I had no choice but to sign those papers. I was so scared of prison.’ Detained in Dubai CEO Radha Stirling said: ‘Asa’s experience echoes that of countless others. ‘A conspicuously high number of cases in the UAE are concluded as a result of suspects’ ‘confessions’ often in lieu of any other type of evidence collected through investigation. ‘Suspects are put under extreme pressure to sign ‘confessions’ in Arabic. ‘We have even seen cases where suspects were forced to sign blank documents upon which the police later wrote their ‘confessions’. ‘These invalid confessions carry decisive weight in trials, despite the coercion used to obtain them. ‘Westerners need to bear in mind that the legal system in the UAE has a long way to go before it is as modern as the skyline’. Gulf Insider November 2018

News Roundup

Saudi’s first ever woman TV news anchor A Saudi Arabian journalist has become the first woman to anchor the main news bulletin on the country’s state-run TV channel. Weam Al Dakheel ‘made history’ co-presenting Al Saudiya’s 9.30pm news bulletin on Thursday along with a male colleague. The journalist received praise on social media, with Twitter users complimenting her work and pointing out that her appearance marked a milestone in the deeply conservative kingdom. Ms Al Dakheel has previously worked as a reporter for CNBC Arabia and as a presenter for the Bahrain-based Al-Arab News Channel. Al Saudiya, previously known as Saudi TV Channel, is state run and is administered by the Ministry of Culture and Information. It was was recently relaunched to ‘highlight different movements taking over the kingdom’, including Crown Prince Mohammed bin Salman’s ‘Vision 2030’, Stepfeed reports. The Crown Prince’s ‘Vision 2030’-plan seeks to modernise Saudi Arabia, preparing it for a ‘post-oil era’.

Oman: Man jailed for forcing woman to take his phone number An Omani man has been sentenced to six months in prison for intercepting an Omani woman and forcing her to take down his phone number, according to the Public Prosecution. The court also fined him OMR10,000 as moral compensation to the woman and ordered him to pay all the legal fees. On August 4, 2016, the victim filed a complaint with the Public Prosecution about the accused, accusing him of insulting her dignity twice. “The first was when she was at a filling station when he intercepted her and she didn’t pay heed to him. He intercepted her again while she was in the parking lot and

Gulf Insider November 2018

gave her his phone number on a piece of paper, saying that he wanted to get to know her. To avoid him, she took the number.” “The second instance was later and during her exit from a hospital; the accused intercepted her once again in the parking lot, and grabbed the door of the car and didn’t leave her until she took his phone number. She took it out of fear. He then made an inappropriate comment. She told him that she was married and had seven children. He replied saying that it did not change the fact that he liked her.” After collecting evidence, the accused was arrested by the Royal Oman Police (ROP). The victim recognised him three consecutive times during a police line-up. Although the accused admitted that the phone number belonged to him, he denied the charge entrusted to him in all stages of the lawsuit, saying that he didn’t know the woman, neither had he seen her nor dealt with her. The accused also confirmed to the court that he was in custody in a commercial execution case during the dates mentioned by the victim when the incident took place. However, police records showed that the accused was released two weeks before the incident occurred. In another desperate attempt on the part of the accused, he stated that his number had reached the victim through one of his girlfriends, who was not on good terms with him. Despite desperate attempts by the accused, the prosecution issued the above-mentioned ruling. Article 269 of the Omani Penal Law stipulates that anyone insulting the dignity of others in any way can be jailed for up to two years in prison and slapped with a minimum OMR1,000 fine.

CAR News

& reviews Bentley Continental GT

Audi Q8

Porsche Panamera GTS

New Mercedes A â&#x20AC;&#x201C; Class

BMW 3 Series Sedan

Bentley Mulsanne

Ferrari 812 Superfast

Society

Bentley Continental GT Launch at the Four Seasons Hotel Bahrain Bay

Gulf Insider November 2018

BMW M Experience Workshop at the Bahrain International Circuit

Car Bahrain

Bentley Continental GT Nicholas Cooksey travels to Dubai to review the latest offering from the British luxury marque.

he Continental GT was originally launched back in 2003, and in 15 years more than 65,000 have been sold worldwide - a fantastic success for this historic British maker of luxury sporting cars which have never sold their cars in such large numbers before. I picked up the car in Dubai and drove to Jebal al Jais, arguably the best mountain road in the region for driving

Gulf Insider November 2018

The car looks rich and proud and powerful, but with beauty. cars fast. Sadly, gone are the days when you could drive free from fear of speed cameras, which have recently been

installed. Still, the roads were good and the scenery was just amazing. From the outside, the car looks rich and proud and powerful, but with beauty. Inside is not a disappointment either. You feel surrounded by English luxury. Everything is the best. Thereâ&#x20AC;&#x2122;s classic wood-paneling, chrome, deeppiled carpeting, and lots and lots of leather. It has an interior to match a Rolls-Royce (and performance similar to a Ferrari).

Car Bahrain

You feel surrounded by English luxury. Everything is the best. with luxury, may indeed look heavy but driving it never feels heavy.

To arrange your own test drive in Bahrain call Ahmed Zayani on Tel. +973 1723 88 22

There’s a fully digitalized instrument panel that can be hidden, if you wish, by rotating the infotainment screen out of sight so it is replaced with a panel of analogue instruments. There are huge leather front seats that are heated and cooled, and have massagers. They are set higher than what is usual for a sporting coupé. The W-12 6.0 liter twin-turbocharged engine is smooth and immensely powerful, offering 626bhp and 664lb ft – a noticeable improvement on the

previous model. It even has more torque than the current Bentley GT Speed, and uses the same air suspension as the Porsche Panamera, providing a ride and handling that can be either luxury limo or sporting super car, depending on your desire… and road conditions. The car’s mighty acceleration, offering zero to 100 kph in around 4 seconds, is always smooth, never savage. Top speed exceeds 300 kph. The Bentley Continental GT, big and packed as it is Gulf Insider November 2018

Car Bahrain

Audi Q8

2,000 Metres High in Oman Charlie Cooksey test drives the all-new Audi Q8 in Jabal Akhdar, Oman

n early October, we were invited for the regional launch of the new Audi Q8 in Oman. Being my first trip to Oman and knowing the rough and mountainous terrain of the country – this was something to be excited about. It’s only a short flight from Bahrain to Muscat, but the difference in scenery is something to behold – for our readers to have visited Oman – you’ll know what I mean! Upon arrival, we were greeted by some of the Audi Middle East team,

Gulf Insider November 2018

who escorted us to the airport car park where a fleet of brand spankin’ new Q8’s in an array of vibrant and stylish colours were lined up (Where are the keys?! Lets’ go!). My first impression was that it is a well-defined SUV of class. After a short and informative brief from one of the Audi experts – it was time to hit the road. We had a long 3 hour drive ahead from Muscat airport to our stay in Jebel Akhdar… plenty of time to explore the capability and various functions of the car, whilst

surrounded with the breath-taking views of Oman. The new Q8 combines the best of two worlds – the elegance of a fourdoor luxury coupe and the convenient versatility of an SUV. The generously dimensioned interior is my personal highlight – classy brown leather seats, suede touches on the doors that add to the overall luxury feel, easy-tounderstand symbols and a smooth touchscreen user friendly navigation system.

Car Bahrain

where we were going since the car in front was kicking up a huge dust cloud – this all added to the experience! I was most impressed with how the Q8 handled and felt while driving on the rough off-road terrain... usually, it can get uncomfortable and bumpy, but credit to Audi who have produced a car that still remains so comfortable even in extreme conditions. I found that the Q8 is an SUV that looks good (even if it’s covered in mud!) and drives well in all terrain – from city driving to extreme off-roading.

We checked in to what has been one of the most stunning hotels I’ve yet stayed at, Alila Jabal Akhdar. Perched 2,000 metres above sea level in the Al Hajar Mountains, this luxury hotel really set the tone for the trip. We had the rest of the day to relax, make use of the spa and eat some fine Lebanese dishes with the fellow journalists and Audi Middle East team. Starting early morning the following day, we picked our cars for the day and set off in a convoy of Q8’s. This convoy of vibrant and elegant Q8’s must have looked pretty awesome to the locals. We made the descent down the mountain, which is trickier than it sounds, because you have to be extra careful not to cook the breaks by holding your foot on the break the whole descent… after a short while we swiftly got into the rhythm of it; this was done by flicking it into manual and

The new Q8 combines the best of two worlds – the elegance of a fourdoor luxury coupe and the convenient versatility of an SUV. using gears 2 and 3. I love making use of the ‘flappy paddle’ gear shifting. We reached the off-roading area, where the cars soon went from gleaming clean to covered in dust. We climbed a mountain using an off reading track and at times it was difficult to see

For more information or to book a test drive please contact Audi Bahrain on Tel. +973 1745 9933 Starting Price for Audi Q8: BD32,490

Price Comparison BMW X6 Starting Price: BD 25,000

Mercedes GLE Coupe Starting Price: BD 35,000 Gulf Insider November 2018

Car Bahrain

Porsche Panamera GTS New GTS models: two athletes join the Porsche Panamera family.

orsche has added two extra sporty models to its Panamera range. With a powerful performance from the four-litre V8 biturbo engine, extra dynamic chassis systems including three-chamber air suspension, and their own unique design elements and equipment, the Panamera GTS and Panamera GTS Sport Turismo harness a one-of-a-kind performance package.

Emotion and efficiency The heart of both the new Panamera GTS models is a four-litre V8 engine, cultivating an emotional sound and driving experience when combined with the standard sports exhaust system. The biturbo engine, which features a gasoline particulate filter, outperforms its predecessor, accelerating the Panamera GTS and Panamera GTS Sport Turismo from 0 to 100 km/h in 4.1 seconds as it works in conjunction with the standard Sport Chrono package. The two models achieve a top speed of 292 and 289 km/h respectively.

Gulf Insider November 2018

The new Panamera GTS modelsâ&#x20AC;&#x2122; basic equipment package has been significantly upgraded in a number of areas.

Performance and comfort Sports chassis with three-chamber air suspension designed to reflect the sporting prowess of the Panamera GTS models, the chassis systems are impressively dynamic. The adaptive air suspension with three-chamber technology is fitted as standard, which results in flexible control and optimum spring rate spread. Large brakes deliver outstanding deceleration.

Distinctive GTS look The new Panamera GTS modelsâ&#x20AC;&#x2122; basic equipment package has been significantly upgraded in a number of areas. The Sport Design package with a new black front end, black trim at the bottom of the rear, and a variety of darker elements highlights the more athletic appearance. The GTS models are equipped with 20-inch Panamera Design wheels as standard. The interior features hallmark elements of black Alcantara and anodised aluminium. The standard package also includes a heated multifunction sports steering wheel

Car Bahrain

with gearshift paddles and Alcantara trim and the Connect Plus module for a wide range of digital services. With the optional Interior GTS package, drivers can customise their vehicle with various design elements, such as a rev counter, designer seams, and GTS logos in the

and 90s. In 2007, the GTS celebrated its revival with the Carrera GTS. The first generation of the Panamera GTS followed in 2011, initially available as a sports saloon only. Now, the new Panamera GTS is also available as a Sports Turismo. With a

large boot lid, low loading sill, increased luggage compartment volume and 4+1 seating configuration, the new GTS variant based on the 2017 model meets the highest of standards for everyday driving, while also delivering outstanding performance.

contrasting shades of Carmine Red or Crayon.

A first for the Panamera The GTS models offer all the innovations of the second-generation Panamera range. These include the digital Porsche Advanced Cockpit, assist systems such as Porsche InnoDrive including adaptive cruise control, and optional rear-axle steering. The GTS also features one highlight that is new to the entire Panamera range â&#x20AC;&#x201C; the head-up display. The display can be configured by the driver and projects all relevant information directly into their direct line of sight in full colour.

Even better for day-to-day driving As is tradition at Porsche, GTS stands for Gran Turismo Sport. Porscheâ&#x20AC;&#x2122;s first road-approved sports car, the 904 Carrera GTS, was launched all the way back in 1963, bringing racing technology to the streets. This was followed by the 924 GTS and 928 GTS, which cultivated the concept throughout the 1980s

The new GTS models are available to order now. In Germany, the Panamera GTS is available from EUR 138,493 including VAT and country-specific equipment; the Panamera GTS Sport Turismo is available from EUR 141,349.

Gulf Insider November 2018

Car Bahrain

explain she was designed by German engineers! This is all thanks to an artificial intelligence-driven driver interface called MBUX. It caters to your driving whims to make your journey more pleasurable. This car comes with lots of useful features, including a panoramic roof, LED headlamps and taillamps, 18-inch wheels, keyless start, smartphone integration, colour adjustable ambient lighting, active brake assist, and of course the MBUX system. Optional extras include traffic-andobstacle-monitoring, semi-self-driving capability (from the S-Class) cameras, radar, and navigation data.

New Mercedes

A – Class

Gulf Insider test drives a talking car!

he A-Class is the new entry level car for Mercedes, designed to lure young new customers to the brand. It is also one of the most advanced cars you can buy in Bahrain. This car has the best infotainment

system that I’ve ever seen. It’s literally a talking car. You ask it to do things such as tell you the time, day, location, open the sun roof etc… and it will do so. You can even have a conversation (of sorts) with her (it?). Ask her (it?) a joke and she will tell you a bad joke, then

A 2.0 liter 224-horsepower turbocharged fourcylinder engine gives impressive acceleration Under the bonnet there’s a 2.0 liter 224-horsepower turbocharged fourcylinder engine that gives impressive acceleration. Outside, its compact size is carefully shaped to make it appear sporty and muscular. Mercedes claims is a production-car world-record-low drag coefficient of 0.22, which helps it go faster, boosts fuel economy, and makes it quieter. Inside, it looks luxurious and futuristic with a large dual-screen infotainment system, and huge and interesting looking brushed alloy air vents in the dash that look a bit art-deco. The A250 is light, and yet manages to be solid and luxurious - which is only to be expected from a brand famous for manufacturing heavy, substantial vehicles. Price – BD 15,530

To arrange your own test drive call Al Haddad Motors on +973 1778 5454

Gulf Insider November 2018

Car Bahrain

The BMW 3 Series Sedan BMW brings the latest premium midsized car packing unrivaled technology and tons of innovative options for customization.

he seventh generation of the globally successful ambassador for driving pleasure in a premium midsize car, the new BMW 3 Series Sedan benefits from significantly enhanced sporting prowess, a new design language, extensive refinements to its premium ambience, and trailblazing driver assistance, control, operation, and connectivity technology. The sedan world premiered on October 2018 at the Mondial de lâ&#x20AC;&#x2122;Automobile in Paris and market launches 9th of March 2019. Its new powertrain technology provides higher output, greater pulling power, and optimised efficiency. Six engine variants are available at launch. An Intelligent all-wheel drive is also available in the BMW 320d xDrive Sedan. Over the course of the year, an ultra-sporty BMW M Performance version and an extremely efficient model with plug-in hybrid drive system are expected to be added to the range. Noticeably sharper driving dynamics courtesy of extensively upgraded chassis technology, new damper technology, stiffer body structure and suspension mountings, wider tracks, minimised weight, a low vehicle centre

of gravity and even 50 : 50 weight distribution is the new standard. An extensively expanded range of driver assistance systems paves the way to automated driving: Collision and Pedestrian Warning with Braking function and Lane Departure Warning system is now standard. A new ensemble of systems designed to make parking and maneuvering easier is unmatched by any rival: Parking Assistant with automated longitudinal and lateral guidance for moving into and out of parking spaces, Reversing Assistant, Park Distance Control, rear view camera, and 360-degree cameras. The new BMW Intelligent Personal Assistant is also integrated into the car. No rival allows the driver to give

such a system a name of their choice. The Personal Assistant is an expert on the car and also responds to natural voice commands to help the driver with numerous tasks, such as enhancing productivity and on-board entertainment. Last but not the least, there is also significantly expanded range of digital services from BMW Connected and BMW ConnectedDrive: remote software upgrade keeps the car up-to-date. The BMW Digital Key allows access to the car and starting the engine using your smartphone.

For more information call EuroMotors BMW Tel: +973 1775 0750

Gulf Insider November 2018

Car Bahrain

Bentley Mulsanne W.O. Edition by Mulliner The culmination of a life’s work, 100 years in the making.

s Bentley enters its 100th year, Mulliner, Bentley’s personal commissioning division is delighted to announce the launch of a new Limited Edition to celebrate this milestone in automotive industry. Inspired by the 8 Litre W.O. Bentley, the Mulliner is a modern day homage to its founder and the last car he designed at Bentley Motors.

A Masterpiece At the heart of each Mulsanne W.O. Edition is a truly unique piece of Bentley history: a section of the crankshaft of W.O. Bentley’s personal GK 706 8 Litre, coachbuilt by Mulliner in 1930. Twenty years ago the crankshaft from W.O. Bentley’s beloved 1930 8 Litre had to be replaced for mechanical reasons. This crankshaft was stored away, preserved for a very special occasion. Bentley’s Centenary year is just that occasion. It has been carefully divided into 100 unique pieces. Each one destined to be meticulously set into the tray of the drinks cabinet between 64

Gulf Insider November 2018

the Limited Edition’s rear seats. Making each model truly unique and collectable.

Excellent Craftsmanship Inspired by the classic design details of W.O.’s 8 Litre and interpreted in modern day elegance, the Mulliner design team have carefully curated the car’s specifications to capture the glamourous spirit of the 1930s while incorporating the very latest in 21st century experience-enhancing technology. W.O. Bentley’s signature is subtly embroidered into each new heritage high-gloss seat back – a leather similar to the finish used in the 1930s – and his

influence can be found everywhere in this unique Limited Edition. In this very special Mulsanne are very special details. A drinks cabinet with bespoke glassware sits between the rear seats, displaying a truly unique piece of history: a section of the crankshaft from W.O. Bentley’s 8 Litre. Expert craftsmen have lovingly placed specially selected veneers in opulent grey and darkest black to achieve the car’s striking monochrome appearance. A nod to the famed Bentley quilting sees a striking diamond pattern framing the crankshaft window with a brushed metal inscription below. This exquisite craftsmanship only needs one more touch - W.O. Bentley’s signature.

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Car Bahrain

Ferrari 812 Superfast

Nicholas Cooksey enjoys Ferrari’s new ‘top of the range’ model.

’m always overly cautious when I collect an expensive car for a test drive. It takes me a while to get a feel for the vehicle before I feel comfortable enough to start ‘pushing it’. But I had just spent 36 hours with a Superfast less than a week earlier while overseeing a photoshoot for our sister magazine Bahrain Confidential so as soon as I climbed into the cockpit it felt familiar and comfortable, like meeting up again with an old friend. This is a front-engined, rear-drive, twoseat super GT. There’s a seven-speed dual clutch transmission. Power steering is electric. ORDER E As all things Ferrari, it is a brilliant marvel in automotive engine, and immensely pleasing on the eye. It is big, ridiculously powerful, and crazy expensive. Driving a Ferrari is making a statement to everyone else on the road that you are not a normal traffic user. On

Gulf Insider November 2018

Driving a Ferrari is making a statement to everyone else on the road that you are not a normal traffic user. one occasion I looked into the rear view mirror to see the man in a Toyota behind earnestly taking photos of me (er… I mean the Ferrari) with his smartphone. This Ferrari has a new four-wheel steering system and is currently the most powerful Ferrari in the range. It can go from 0 to 100 kph in just 2.9 seconds. That’s not just superfast but ‘crazyfast’. It offers 789bhp from its 6.5-litre naturally aspirated V12 engine, and has a top speed of 333 kph. It’s really, really fast.

And yet this car feels so light to drive despite it weighing more than 1.6 tons. But it does feel big, as in long and wide. This car sounds great, but it’s not noisy – especially inside the cabin… well that’s until you put your foot down hard on the accelerator. Then it screams like a Ferrari should! Siting in the cockpit is like being cocooned in luxury leather interiors, the steering wheel is a functional works of art – come to think of it I cannot think of any other car brand with cooler steering wheels. The experience of driving this car, the power and all round capabilities, whether it be power, acceleration, braking, steering precision… all surpass anything you could possibly need for normal road driving. But that’s what makes it so awesome.

To arrange your own test drive in Bahrain contact Euro Motors on Tel.+973 17 734 734.

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