BiG April 2016

BUS ESS a Gulf Business magazine for today’s entrepreneurS

IN Gulf

2016

nenr win e bahrai

th award for ip entrepreneursh

april 2016 / Vol-10 No:04

A GRAND AFFAIR

The BillionDollar circus of Formula One

The business that sells businesses

Interview with BCMS Gulf CEO mohammed baqer

DISPLAY UNTIL April 20, 2016

khalifa al mannai start-up of the year

BUS ESS a Gulf Business maGazine for today’s entrepreneurs

IN Gulf

april 2016 / Vol-10 No:04

EMERGING ECONOMIES OF 2016

2016

nenr win e bahrai

Which countries Will lead the Way?

th award for ip entrepreneursh

MONEY TALKS

a look at F1’s Biggest sponsors

dr. lamya mahmood SmE oF ThE yEar

BUS ESS a Gulf Business maGazine for today’s entrepreneurs

IN Gulf

2016

nenr win e bahrai

th award for ip entrepreneursh

april 2016 / Vol-10 No:04

BILL GATES TURNS 60

Five Ways he Wants to change the World

FAMILY MATTERS

creating an enduring Family Business

alIa almoayEd mICro-ENTErPrISE oF ThE yEar

BUS ESS a Gulf Business maGazine for today’s entrepreneurs

IN Gulf

2016

nenr win e bahrai

th award for ip entrepreneursh

april 2016 / Vol-10 No:04

WORKING FOR A CAUSE

a look at social entrepreneurship

SOCIAL MEDIA EVOLUTION

5 trends that Will dominate 2016

hala almoayyEd SUSTaINaBlE BUSINESS aWard

BUS ESS a Gulf Business maGazine for today’s entrepreneurs

IN Gulf

2016

nenr win e bahrai

th award for ip entrepreneursh

april 2016 / Vol-10 No:04

EMBRACING DISRUPTION

adapting to a changing economy

ExOTIC GETAWAY

doing Business in BeautiFul Belize

dr. Sara al rEEFy FEmalE ENTrEPrENEUr oF ThE yEar

BUS ESS a Gulf Business maGazine for today’s entrepreneurs

IN Gulf

2016

nenr win e bahrai

th award for ip entrepreneursh

april 2016 / Vol-10 No:04

SPREADING THE WORD the poWer oF Word oF mouth marketing

1:1 ARCHITECTURE

intervieW With Founder maysam al nasser

mahmood raFEa ENTErPrISE oF ThE yEar WITh INTErNaTIoNal FooTPrINT

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April

BUSINESS Contents Gulf

50 56 THE BILLION-DOLLAR BUSINESS OF F1 ALMOAYYED CREATIvE AGENCY The Laboratory of Ideas

62

72 HOW TO CREATE AN ENDURING FAMILY BUSINESS

By Mike Orlov

96 2016 BAHRAIN AWARD FOR ENTREPRENEURSHIP Celebrating This Year’s Outstanding Winners 14

april 2016

KHALIFA AL MANNAI

Talking Business Behind the Wheel of a Bentley

April

BUSINESS Contents Gulf

AT A GlANCE

88

Cover Story 72

2016 BAHRAIN AWARD FOR ENTREPRENEURSHIP Celebrating the Winners

entrepreneurS

BILL GATES TURNS 60 Five Ways he Wants to Change the World

100

48

1:1 ARCHITECTURE the Design Studio for Conceptual Architecture

52

ADlEEz RESTAURANT A Feast for the Senses

ContributorS 68

ANITA mENON 5 Social Media trends that will Dominate 2016

82

EmAN BU-RASHID the power of Word of Mouth Marketing

regulArS

102 STYLE FILE

The Classiest Fashion Pieces

GADGETS

100

FASHION bold statements

102

GADGETS the latest in electronics

104

HOTEl lISTINGS All they have to offer

112

QUOTED What the vips said

The Coolest Lifestyle Items

BIG Words Parth Vaya

Deputy Editor 16

april 2016

Winter is finally over, but the seemingly-random downpours continue. However, this doesn’t dampen our spirits one bit, as the 2016 F1 season is around the corner! With this year’s Gulf Air Bahrain Grand Prix promising to be another enthralling spectacle, we take a look behind the scenes into the business side of this glamorous sport. We also feature an interview with Mohammed Baqer, CEO of BCMS Gulf, a business-selling advisory firm, along with our usual fixture of promising local entrepreneurs

such as Khaled Almoayyed, founder of Almaoyyed Creative Agency, and Maysam Al Nasser, founder of the conceptual design studio, 1:1 architecture. And finally, as our cover story feature for this month, we celebrate the winners of the second Bahrain Award for Entrepreneurship. We take a quick glimpse into the lives and careers of our seven award winners, while highlighting their outstanding achievements this year. As always..

Have a good read!

TrusT Traders ProducTs..

We insisT

BUSINESS Gulf

a MAXMEDIA PUBLICATION Bahrain’s premier entreprenurial lifestyle magazine PUBLIShEr / EdItor IN ChIEf

Sameer Uchi

MaNaGING PartNEr / GroUP EdItor

Mohd. A. Kayani

dEPUty EdItor

Parth Vaya

SaLES & MarKEtING dIrECtor

Tarek Rashdan

MEdIa CoordINator

Namrata Sunil SaLES tEaM

Made in Portuguese

Nadine Nasser | Aya Jabri ProdUCtIoN MaNaGEr

Sachan Chandran

GraPhIC dESIGNEr

Haroon Rasheed

PhotoGraPhEr

Honey Sharma

dIStrIBUtIoN CoNtroLLEr

Salah Abdulla Hassan

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ON THE EDGE OF ACTION 01-02-03 APRIL

The stage is set for a thrilling night race under the stars at the world-class, floodlit Bahrain International Circuit, 'The Home of Motorsport in the Middle East'.

BAHRAINGP.COM / 1745 0000 / CITY CENTRE / SEEF MALL The F1 FORMULA 1 Logo, F1, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, BAHRAIN GRAND PRIX and related marks are trademarks of Formula One Licensing BV, a Formula One group company. All rights reserved.

Under the Patronage of

His Royal Highness Prince Salman Bin Hamad Al Khalifa Crown Prince Chairman of the Bahrain Economic Development Board

Strategic Partners:

Knowledge Advisors:

BahrainAE

Congratulations to the 2016 Award Winners

Ahmed Mansoor Al Aali Lifetime Achievement Award

Alia Almoayed Alia Almoayed Nutrition Consultancy

Khalifa Al Mannai Mannai Technological Facilitations W.L.L.

Dr. Lamya Mahmood Dr. Lamya Specialist Dental Center

Micro-Enterprise of the Year

Start-Up of the Year

SME of the Year

Mohamed Rafea Midal Cables Ltd.

Hala Almoayyed Almoayyed Contracting Group

Dr. Sara Al Reefy London Breast Care Centre

Enterprise of the Year with International Footprint

Sustainable Business Award

Female Entrepreneur of the Year

1Bahrain's

% 2.82 42 3.1%

Area of Bahrain’s land that is suitable for arable farming.

Bahrain’s world rank on the Human Development Index.

Bahrain’s unemployment rate.

14,000

Ranking in the MENA Region’s 2016 Index of Economic Freedom.

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april 2016

No. of personnel employed during last year’s Bahrain Grand Prix.

2073

Bahrain’s population density.

Toss out the food scales and calculations!

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New Lifestyle Eat Healthy, Live Healthy “Health is wealth” is the motto of Diet Mealz, our aim is to help you achieve perfect body shape. Whether its losing weight, maintaining fitness or gaining weight. Diet Mealz does it all for you.

In this day and age globalization comes with stressful and fast paced environment which usually makes one ignore their health. Diet Mealz is a center that provides healthy meals delivered at your doorstep every day.

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NEWS

New four-star hotel opeNed iN seef BAHRAIN: Industry, Commerce and Tourism Minister Zayed bin Rashid Al Zayani inaugurated Asdal Gulf Inn in Seef district in the presence of senior government and hospitality industry officials in February.

The hotel, which aims to cater to the business traveller, is

just a 15-minute drive from the Bahrain International Airport and a short walking distance from major shopping malls of the Kingdom. The new boutique hotel is also an ideal stopover for the F1 enthusiasts as the race venue - Bahrain International Circuit - is a short distance away.

MuMtalakat acquires Major stake in spanishbased aluMiniuM coMpany BAHRAIN: Bahrain Mumtalakat Holding Company, announced the successful acquisition of a 49% equity stake in Asturiana de Aleaciones(ALEASTUR), a Spanish-based manufacturer of aluminium grain refiners and master alloys.

Established in 1985 in Spain, ALEASTUR specializes in the manufacturing of aluminium grain refiners and master alloys, mainly in rod form and ingots.

Mumtalakat aims to support ALEASTUR’s plans to establish a presence in Bahrain to cater to the Company’s existing client base in the region and to target new customers in Asia, including smelters and casting operations.

Mahmood Al Kooheji, Mumtalakat CEO

CoNstruCtioN of MoNdeleZ BisCuits faCtorY uNderwaY BAHRAIN: Construction of the US$90 million biscuit manufacturing plant of US-based food giant Mondelēz International is in full swing with Mercury Middle East WLL (Mercury MENA) spearheading the development as the project’s general contractor.

Mercury MENA is an international engineering specialist solutions

big -tionary Business terminology

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april 2016

provider, with more than 5,000 employees operating in six countries in the Middle East and North African region. Mondelēz International is a global snacking powerhouse and a world leader in biscuits, chocolate, gum, candy and powdered beverages, with billiondollar brands such as Oreo, LU and Nabisco biscuits; Cadbury, Cadbury Dairy.

Salman Tahir, VP, Mercury MENA(left), Osama Al Arrayed, Undersecratary for Industrial Affairs(middle) and Dmitry Schachenok, Director, Mondelez Bahrain

RemuneRation Reward for employment in the form of pay, salary, or wage, including allowances, benefits (such as company car, medical plan, pension plan), bonuses, cash incentives, and monetary value of the non-cash incentives.

Email your business news to big@maxmediaco.com

UNIQUE AS WE ARE Celebrating the uniqueness of every woman

Hand-finished jewellery that expresses your individuality, crafted from sterling silver and 14k gold.

Jewellery from BHD 31. Discover the new Spring collection at pandora.net

NEWS

Galleria proJeCt Visit BAHRAIN: Minister of Industry and Commerce, Zayed bin Rashid Al Zayani pledged government’s full support to Bahrain’s private sector initiatives, while praising the sector for its vibrant projects that contributed in boosting the national economy. The minister

was speaking as he visited Galleria Shopping outlets, a US$40 million project, in Zinj, where he was welcomed by businessman Mohammed Dadabhai, in the presence of a number of ministry officials, businessmen and businesswomen.

ZAYED AL ZAYANI(LEFT) WITH MOHAMMED DADABHAI

Citibank wins Major award

k hotel annual staFF party

BAHRAIN: EMEA Finance magazine has named Citibank Best Foreign Investment Bank for the fifth year in a row and Best Foreign Bank for the third consecutive year in Bahrain as part of the magazine’s Middle East Banking Awards 2015.

EMEA Finance is a bi-monthly publication that reports on major financial events and happenings initiated and influenced by the international financial industry active in Europe, Middle East, and Africa (the EMEA region).

big -tionary Business terminology

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april 2016

GemBa

a Japanese word that means “the real place”, used in business process improvement contexts to refer to the place where value is added, e.g. manufacturing area.

BAHRAIN: The Staff Committee of The K Hotel recently hosted their Annual Staff Party, which was attended by the Director HR & Development of Gulf Hotels Group, the K Hotel Management team and the employees. At the event,

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awards were distributed for Employee of the year, with various competitions and raffle prizes held, while a number of performing acts entertained the crowd. The four-star K Hotel, situated in Juffair, recently celebrated their fifth anniversary.

NEWS

BahraiN-BaCked MClareN autoMotiVe to triple Car produCtioN BY 2022 BAHRAIN: McLaren Automotive, which only began building its range of luxury sports cars for general sale in 2010, could triple volumes to up to 5,000 cars by 2022, its CEO has said.

McLaren, which is part-owned by Mumtalakat, the Bahraini state

holding company, which shares facilities and expertise with its Formula One namesake, but is a separate legal entity, is expanding in a market segment that longer-established rivals such as Ferrari and Aston Martin have traditionally dominated.

dubai’s ‘First luxury hospital’ to break Ground this year UAE: The region’s first five-star, luxury hospital is to be built in Dubai with construction expected to start this year, its founder has claimed.

Advet Bhambani Ventures (ABV), the company behind UAEbased healthcare group Lifeline Hospitals, said it has acquired a

one-acre site in Mirdif and intends to build a 150-room ‘boutique’ hospital for wealthy patients. The company had already planned to open a luxury hospital in Mumbai by 2018, intended to be the flagship facility of “the first luxury hospital chain in the Middle East and India”.

$100 Million deal siGned to develop WoMen entrepreneurship BAHRAIN: The Bahraini Women Development Portfolio Fund worth a total of $100 million has been created to support interested women to delve in entrepreneurship to begin their own new commercial startups or develop existing ones. A Memorandum of

Understanding was jointly signed

by The Supreme Council of Women (SCW), Tamkeen (i.e. the Labour Fund) and Bahrain Development Bank (BDB).

Aside from financial services, the portfolio also includes financial and entrepreneurship advice and training.

ABV Founder, Advet Bhambhani

big -tionary Business terminology

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april 2016

alba announces new acting director of administration inteGRity Strict adherence to a moral code, reflected in transparent honesty and complete harmony in what one thinks, says, and does.

BAHRAIN: Aluminium Bahrain, announced the appointment of Dr. Elham Al Eid as the Company’s new Acting Director of Administration. In her role as the Acting Director of Administration, Dr. Elham will oversee the departments of Human Resources, Training and Development, Alba Health Care Centre and Alba Club.

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NEWS

MuMtalakat acquires stake in GulF cryo BAHRAIN: Mumtalakat Holding recently announced its successful acquisition of a minority equity stake in Gulf Cryo, the leading regional manufacturer, distributor and service provider of industrial gases based in Kuwait.

Mumtalakat will join Gulf Cryo’s shareholder group,

which includes Amer Huneidi, other members of the Huneidi family and Investcorp. Founded in 1953 as the Kuwait Oxygen and Acetylene Company, Gulf Cryo produces and supplies industrial, medical and specialty gases to a wide range of industries in the MENA region.

uBer driVer Goes oN a shootiNG raMpaGe

USA: A man arrested on suspicion of shooting dead six people in the northern US state of Michigan was an Uber driver who may have picked up fares during the killing spree, officials and media reported.

Uber confirmed that Dalton was

big -tionary Business terminology

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april 2016 march 2016

a driver for the ride-sharing company, adding he had passed a background check and had no criminal record. Gun violence claims the lives of about 30,000 Americans every year and mass shootings - rare in most countries - have been on the rise.

New iNitiatiVe to CoMBat illiCit traffiCkiNG of Cultural propertY StRASBoURG: The Council of Europe is preparing a new criminal law convention to combat illicit trafficking in cultural property. Illicit trafficking in cultural property is increasingly exploited by terrorists’ organisations. Recent events in Iraq and Syria have emphasised the vulnerability of historic and archaeological sites, with a deliberate destruction of humanity’s

heritage threatening our democratic values, identity and memory. Trafficking in cultural property is a highly clandestine crime and a source for money laundering practices affecting all European countries. The initiative aims to criminalise the illicit destruction and trafficking of cultural property, preventing offenses, and fostering co-operation within the international community.

oFFicine panerai to support dubai international boat shoW UAE: Officine Panerai, has announced its participation at the Dubai International Boat Show2016 as the VIP ‘Supporting Partner’ for the seventh consecutive year.

The DIBS is established as the MENA region’s number one marine luxury, leisure & lifestyle industry event. Officine Panerai’s involvement in the show is a natural extension of

PeR Se intrinsically, by itself, not requiring any supporting facts or ideas, standing alone. Latin for, ‘by itself’ or ‘in itself’.

Email your business news to big@maxmediaco.com

the brand’s heritage and relation to the sea which goes back to the 1930’s when Officine Panerai supplied the Royal Italian Navy with sophisticated and high precision devices for underwater military use.

VIPs & watch aficionados will have the opportunity to view Panerai’s latest sophisticated timepieces launched in Geneva in early 2016.

NEWS

stormy forecast

Expiry of US-Bahrain tax rules ‘could hit workforce’ BAHRAIN: With the expiry of part of the trade agreement between Bahrain and the USA, concerns have been raised regarding the major impact it could have on the textile industry and workforce in Bahrain.

Tariff Preference Level

Bahraini companies that enjoy duty-free exports to the US under a ten-year trade deal would be forced to cut staff when part of the agreement expires at the end of July this year. The clause stipulates

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april 2016

that three major garment firms in the Kingdom can use raw materials imported from countries that are not signatories to the FTA but still export garments free of tax. The temporary clause is called the ‘tariff preference level’ (TPL).

Dire Consequences

Negotiations are under way to renew the clause but US officials have so far stopped short of signing a deal. If it does not, the costs to the firms would escalate dramatically.

The textile and garment sector, which accounts for 25 percent of exports to the US – second only after aluminium – could now see tariffs rather than being tax-free if the deal expires this year. This would mean we have to act within the upcoming four months or else those working in the sector would be laid off.

Remaining Optimistic

In a press conference addressing the issue in late February, Zayed Al Zayani,

Bahrain’s industry, commerce and tourism minister stated that, “Unions have pressurized the US administration and legislators and the tax exemption deal with Nicaragua has been stopped, while in Morocco and Bahrain it expires this year, and Oman in 2019,” he added.“We have repeatedly tried to convince the US to renew the deal, but have been responding negatively.”

However, he added: “We have not lost hope.”

ViSion Statement An aspirational description of what an organization would like to achieve or accomplish in the mid-term or long-term future. It is intended to serve as a clear guide for choosing current and future courses of action.

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Sovereign Art Foundation ‫اﻟﻔﻨﻴﺔ اﻟﺨﻴﺮﻳﺔ‬ ‫ﺳﻮﻓﺮن‬ ‫ﻣﺆﺳﺴﺔ‬

Schools Prize 2016 ٢٠١٦ ‫اﻟـﻤـﺪارس‬ ‫ﺟـﺎﺋـــﺰة‬

ARTWORK FOR CHILDREN IN NEED

‫ارﺳﻢ ﻟ ﻃﻔﺎل اﻟﻤﺤﺘﺎﺟﻴﻦ‬

٢٠١٦ ‫ أﺑﺮﻳـﻞ‬١٩ ‫ وﻟﻐـﺎﻳﺔ‬١٢ ‫اﻟﻤﻌـﺮض ﻣﻦ‬ UNDER THE PATRONAGE OF

His Highness And His Excellency ،‫اﻟﺜﻘـــﺎﻓﻲ‬ Shaikh Nasser ‫اﻟﺒﺤـــﺮﻳﻦ‬ bin Hamad‫ﻣﻤﻠﻜـــﺔ‬ Al Khalifa Shaikh ‫ﻋﻴﺴـــﻰ‬ Rashid bin‫ﻣﺮﻛـــﺰ‬ Khalifa Al Khalifa His Majesty King’s Representative for Charity Works and Youth Affairs Chairman of the Board of Trustees of the Royal Charity Organization

Under Secretary for Nationality, Passports and Residence Affairs, Ministry of the Interior The Honorary President of the Bahrain Arts Society

The Third Auction Gala Dinner

The Third Charity Art Exhibition

Sovereign Art Foundation

Schools Prize 2016 Comming Soon TheCHILDREN Third IN NEED ARTWORK FOR

Charity Art Exhibition Exhibition: -19th April 2016 in12nd April 2016 at The Arts Centre, Kingdom of Bahrain IN PARTNERSHIP WITH

MEDIA SPONSORS

Sovereign Art Foundation - ME

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SAF_BAH

Smouldering gaze

THE FIRST ITALIAN LUXURY BRAND OF COLOR CONTACT LENSES, DESIO™ The Desio™ Sensual Beauty Lenses collection meets new demands of the modern market. For the first time, both men and women are presented with a newly created line of prêt-à-porter lenses. Desio™ is sophisticated and elegant with unique designs that give all eye colours a naturally coloured effect.

Here are some colours from the Desio collection:

Creamy Beige

Forest Green

Desert Dream

Caramel Brown

Creamy Beige

Forest Green

Desert Dream

Caramel Brown

Icy Blue

Smoky Grey

Mint Touch

Innocent White

Icy Blue

Smoky Grey

Mint Touch

Innocent White

Desio and Ehsan Optics in Bahrain recently added two new shades of grey to their collection:

Lighter

The morning mist envelops the horizon with its translucence. Your eyes peer through the mist to find the sensation of light. Head towards it and let your feelings transform into the heat of passion, your eyes lighting up with intriguing pleasure. Light Grey, conceals your desire, masking a nuance that will only be revealed to those who are willing to receive it.

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Darker

A Smokey and steamy glance, with its ashes concealing the fire that is ready to light up and engulf lips seeking the warm pleasure and taste of the forbidden. Experience this unique shade and seduce the world around you. An irresistible shade of grey that shivers within your soul.

EvEnt

EuromonEy GCC

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Areije Al Shakar, VP, Rowad Program, Bahrain Development Bank

he 5th Euromoney GCC Financial Forum, co-hosted by the Bahrain Economic Development Board (EDB) took place at the Four Seasons Hotel, Bahrain, in late February. More than 500 leading international and regional financial experts from finance, investment, government, regulatory organisations, businesses and members of the media from 24 countries attended the event. The inaugural welcome note was presented by Richard Banks, Consulting Editor of Euromoney Conferences. Key themes addressed during the panel discussions over the course of the two day event included the macro-economic backdrop, capital markets development, wealth management, Islamic finance, technology and innovation. Highlights of the two-day event included an open, town-hall discussion with HE Mr Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain and a keynote interview with Mr Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board.

This year the forum was supported

by Bank of Bahrain and Kuwait (BBK) and National Bank of Bahrain (NBB) as lead sponsors, Bahrain Development Bank Group and Mumtalakat as co-sponsors, Baker & McKenzie as exhibitor and Bahrain Islamic Bank (BiSB), BNP Paribas, Standard Chartered and Tamkeen as supporting organisations.

Euromoney is a world-leading organiser of conferences for crossborder investment and capital markets for portfolio and direct investors, corporations, governments, banks and financial institutions. Since the late 1970s, Euromoney Conferences has run events in more than 60 countries.

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EvEnt

Kolors rEstaurant Grand opEninG

T

he former Klouds Restaurant at the K Hotel has recently undergone an extensive renovation to bring a contemporary feel to the new Kolors Restaurant. With Mr. Volker Mandlowsky, General Manager of the K Hotel in attendance, the grand opening of the restaurant took place in early March, as part of the hotel’s 5th anniversary celebrations. Situated on the ground level, lobby area of the K Hotel in Juffair and open 24/7, Kolors Restaurant promises to be a one-of-a-kind fine dining experience for the ardent food lover.

Abdullah Mohammed Juma, Chairman, Bin Juma Holding Company cutting the ceremonial ribbon

GrEubEl ForsEy

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S

wiss luxury watchmaker, Greubel Forsey, recently held a press conference at the Bahrain Jewellery Centre at Moda Mall to honour the visit of some of the brand’s most esteemed special guests.

In attendance were a number of journalists and members of media, with a number of the brand’s finest works on display. Founded in 2004, Greubel Forsey has since become a world-renowned name in field of watch-making, winning a number of international awards for their work.

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LOVE KNOTS

Knotted looks feature boldly and brightly on this season’s catwalks.

In the Sparkling Love Knots series, intricate lines of braiding are illuminated with sterling silver and on trend stone embellishments, symbolising unbreakable love.

Pandora Mother’s Day 2016 Season Introduction This season, jewellery shines with affection and nostalgia. The beautiful bonds of family unite with symbolic knots on precious keepsakes of love, destined to be cherished forever.

WISHFUL HEART

Feel fabulous this Mother’s Day by mixing traditions and trends, and wearing your heart on your sleeve – literally! PANDORA’s popular bangle has gained a beautiful new heart shaped clasp and a sweet engraving, making it the perfect carrier for a family themed collection.

BELOVED MOTHER

Let your mother know just how much she means to you with these adorable heart charms. The pretty shape of the design combined with a sentimental message for a mother, ensures that it will be a treasured keepsake.

NOSTALGIC ROSES

The beauty of roses and their association with motherhood has made them a popular choice for Mother’s Day. In Greek mythology, roses were seen as sacred to the goddess Isis, who was celebrated as the ideal mother. Pink roses signify grace, elegance and appreciation.

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EntrEprEnEur

Beauty

In A Box ‘CosmoCase’ is the perfect way to organize your cosmetics

n response to a nagging issue faced by a large number of women, two enterprising young Bahraini women have created an efficient and portable case to help women keep their make-up organized. We sit down for a chat with the founders, Aisha Aldoseri and Sara Alhamar to find out more about their innovative new product.

Can you give us some background information about yourselves?

Both of us graduated with Bachelor’s degrees in graphic design and Master’s in design management. We are currently working in the graphic design industry.

Can you briefly explain what CosmoCase is about?

CosmoCase is a home-based business, in which we design and sell organizers for the modern woman. Our products range from make-up organizers to travel organizers.

What gave you the idea to start CosmoCase?

During a gathering, we were discussing our love for make-up and the struggle it is to keep it organized. We realized there was a need in the market for organizers to neatly arrange make-up, while making it accessible and efficient to use.

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How many different items or styles do you offer? Is there a best-selling item?

We sell large cases for all types of make-up, lipstick holders, brush holders, as well as shoe bags. We have four main products:  Makeup drawers that we have in two different sizes.  Lipstick holders.  Brush holders.  Travel organizers.

We don’t have a specific best-selling product as they all sell equally depending on customers’ preferences and needs.

How is the CosmoCube made?

And how long does it take for one to be ready for customers?

CosmoCube is what we named our makeup drawers, as it comes in the shape of a cube and can store beauty products and makeup. It is made of crystal clear acrylic, five drawers and an open top.

Most of our products are always in stock and can be delivered to a customer almost immediately.

What kind of feedback have you been getting from customers so far?

The feedback we receive is that customers are satisfied and admire our products and packaging. In addition, customers share how much our products benefit them.

Are your customers from Bahrain or are there GCC customers as well?

We have customers based in Bahrain, as well as all over the GCC.

What are your future plans for CosmoCase?

We strive to continue to exceed our customers’ expectations and aim to expand our business through designing new and exciting products.

To find out more about CosmoCase, follow them on Instagram @ cosmocase.bh

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Golden Ratio ‘1:1 Architecture’ is a Design Studio Dedicated for Conceptual Architecture, Interior and Furniture Design.

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APRIL 2016 2016 APRIL

EntrEprEnEur hen highlytalented architect Maryam Al Nasser grew dissatisfied with the constraints of her job, working according to a set of guidelines, she ultimately sought to express her ideas and creativity by starting her own enterprise. Located in Riyadat Mall, A’ali, 1:1 Architecture introduces a holistic approach that goes beyond the architectural design to provide a conscious mix between art, architecture and psychology. Having built a diverse client portfolio since its inception, the studio provides design services in their most contemporary, abstract and minimal form.

What inspired you to become an architect?

Fascinated by spaces and their effect on the individual and culture, I did my Master’s thesis under the title ‘space and cultural transformation’, graduating with a degree of architecture from Edinburgh College of Art in 2007. I had always been interested in the impact spaces have on human behaviour and psychology. I’ve always believed that places define us as much as we define them. I’ve been interested in this envelope that holds time and memories, and some of our personalities. The ability to impact a person or a community’s quality of life through the built form is what I aspire for.

What were you doing before starting your own company?

I was working as an architect at COWI gulf, also working on my own installation art projects

on the side, exploring the in-between space between art and architecture.

Tell us about the idea behind the name of your studio.

1:1 is a ratio that represents the true drawing scale, when a drawing is an exact match to reality. It also represents the ratio between our conceptual theories and design interpretation.

Tell us about 1:1, and the type of projects you do

1:1 is a design studio dedicated for conceptual architecture, interior and furniture designs. We introduce a holistic approach that goes beyond the architecture to provide a conscious mix between art, architecture and psychology.

We are excited about the variety of projects we get involved with; the wide range of scales enriches our experience in different fields of design. Clients we are targeting are quality conscious, bold people who do not compromise and not afraid of change.

When did you start 1-1 architecture?

And why?

In 2012, I decided to start my own studio, because it is my ongoing workshop to test my ideas and produce experimental designs and pieces. A lab for my own private mistakes and questions.

“Art allows a way of thinking that helps decode all the symbols that life throws around us.”

How does Art affect your daily life?

From the colour of food, the choice of electronics, to the route I take to go somewhere, design has always been a main force influencing my daily decisions.

But above all, as art is not about visual aesthetics only, but the concept and meaning behind things, it makes me interpret things differently, whether it’s the real plot in a movie, the concept behind a piece of music, an abstract painting or the real meaning behind a picture. Art allows a way of thinking that helps decode all the symbols that life throws around us.

What makes Bahraini architecture unique?

How does it stand out to others?

The indigenous architecture of Bahrain emerged from the people, lifestyle and the environment around them. The urban pattern of the city fabric was a reaction to the sea, cultural and religious customs and habits of people. We should study those symbols, and add to them our experiences and lifestyle to maintain our identity.

What are some of the challenges that you face?

Changing people’s perception about design is a challenge. But above all ‘time’ is the biggest challenge we face. It is our biggest competition!

What is the most exciting moment during a project?

The start of each project is exciting. To feel that you’re about to merge in a new family, to understand them, and design their most intimate spaces.

What are your main influences while you are designing a place?

The person I’m designing for, its use/function, and the relation to its surrounding environment.

In addition to that, I incorporate some of my own concepts and elements into the mix, translating all those forces into a space.

To find out more about Maysam’s work, visit 1-1architecture.com or follow them on Instagram @1to1design.

APRIL 2016

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Unleash YoUr

ImagInatIon Almoayyed Creative Agency is the new “it” place for photographers and filmmakers 50

APRIL 2016

EntrEprEnEur

fter completing his Master’s Degree in Film Production, Khaled Jamal Almoayyed decided it was finally time to create an outlet for expressing his creativity.

Thus was born Almoayyed Creative Agency: a laboratory for his ideas.

First of all, what is Almoayyed Creative Agency?

Almoayyed Creative Agency (ACA) is, as the name implies, a creative space. We have two main business lines: one is the agency, where we do things like logo design, branding, and creating websites and advertising materials for clients.

The other is the studio, where we do our own creative work, but it is also available for rent by photographers or filmmakers.

We also run workshops which are open to experienced professionals and complete amateurs alike, and last for anywhere between a day and a few weeks. They are team-based and centered around unconventional tasks or missions with a deadline and a prize, so you get hands-on production experience and knowledge in creating an incredible piece of work while also adding to your portfolio and increasing your employability. Oh, and we’re also turning our workshops into a web series. Think: The Apprentice with a dose of America’s Next Top Model!

What inspired you to start such a company?

It was a variety of different factors. For one, I had been freelancing for a number of years and received a lot of appreciation for my work. I felt like it was time to take my skill to the next level and set up professionally. Second, during my time at university in England, I had access to some wonderful studios where anyone could walk in to watch and learn, and the manager of the studio made you feel welcome and showed you the ropes. You were free to experiment with outrageous ideas and get all your questions answered. When I came back to Bahrain I quickly realized, to my disappointment, that no such place existed here. ACA was born out of an attempt to give the young creatives of Bahrain access to the same fertile grounds for experimentation and learning as I had. I believe that Bahrain has a lot of creative potential, but it just needs the right environment in which to grow and reassure them that nothing is impossible.

With so many advertising, branding and marketing agencies out there, what makes the quality of your work stand out from the rest?

ACA offers clients something a little out of the ordinary to engage with a more connected and sophisticated demographic.

I genuinely believe that Bahrain is ready for a more intelligent, conceptual approach to advertising than the same old dumbed-down “50% SALE!” billboards plastered all over our highways. It helps that we have our own production facilities right here in our studio, because it gives us flexibility and results in cost savings that we can pass on to our clients. The open atmosphere and work culture at ACA attracts incredibly talented team members who approach everything they do

“I believe that Bahrain has a lot of creative potential, but it just needs the right environment in which to grow and reassure them that nothing is impossible.”

with dedication and a sense of humour—I don’t mean that everything we produce is funny, but you can tell that we enjoyed producing it. ACA is not a large, soulless corporation; it is a boutique production housewith a heart, and we’re proud of the work we do. We will always ensure that work coming out of our studio has a level of artistry and is on par with international standards.

I’ve heard that you currently have one of the best photo and film studios in Bahrain.

What have you added to the studio that makes it so useful for a client?

In purely technical terms, our studio is state-of-the-art.

We have one of the country’s largest green screen and cyclorama walls and a range of very sophisticated equipment, which enables us (and renters) to produce almost any kind of film or photography project. We have a fully equipped conference room, make up and changing rooms, showers, and lots and lots of open space. In addition, we have extra space for future expansion once the business takes off. Our studio has a very chilled out, New York loft-style vibe; it’s the kind of space that inspires creative thinking.

What are some of the challenges you’ve faced while trying to establish your business so far?

I won’t go into things like paperwork and financing hassles, because every startup faces those. I think some of the biggest challenges arise from trying to convince others that this is a good idea even when you’re facing moments of doubt yourself. Of course there are days when you feel like the

weight of the whole world is on your shoulders and you want to give up, but you just have to keep putting one foot in front of the other. It helps, of course, to have a supportive base of family and friends like I do, but at the end of the day no one can motivate you except yourself. Also, it’s a really tough industry. Bahrain does not value creative work enough—they want the product, but they don’t want to pay. At times I hear clients say that true creative work only exists somewhere like Dubai, which infuriates me because I see that as giving up on Bahrain.

What are some of your company’s proudest achievements?

By far the proudest achievement is the fact that the facility actually exists. We have an amazing studio, and we’re excited for people to use it. One of ACA’s biggest projects was the Maharajah campaign photo shoot for Al Zain jewellery. Our images were used everywhere, including a massive billboard along the Seef highway, at Jewellery Arabia, and even on billboards in Doha. It was our most visible and most easily recognizable campaign.

What are your future plans for ACA?

Of course we want to do bigger and better work and get a bigger team, but ultimately I envision ACA as a creative academy/ community where anyone can come and learn film and photography skills and physically do something with what’s taught instead of keeping it bottled up inside your head. I want to create a new generation of creatives in Bahrain who think in unique ways and produce remarkable work.

To find out more about Khaled’s work, visit almoayyedca.com or follow him on Instagram@ almoayyedca

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Head Chef Adel Salman Dawood(right) with his business partner and cousin Adel Ali Dawood

A FeAst For the senses ‘Adleez’ offers a fusion of Arabic and Western style food 52

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EntrEprEnEur

dleez Restaurant is the culmination of a life-long dream shared by cousins Adel Salman Dawood and Adel Ali Dawood.

Delighting customers with their fusion of Western and Arabic dishes, Adleez offers their patrons the perfect combination of quality and economy. Head Chef, Adel Salman Dawood tells us more.

What inspired you to start your own restaurant?

I had worked as a chef for two and a half decades prior to opening Adleez, and so it seemed only natural for me to continue working in the food industry. But the thing that really inspired me to start my own enterprise was the fact that living in the UK had exposed me to new foods and flavours that I had never seen in Bahrain. After coming back here, I realized that many common dishes that were being served in the restaurants were missing something, and could be vastly improved. And so, my cousin and I took the plunge and opened up shop.

Touch wood, everything’s going pretty well so far!

What were you doing before starting the restaurant?

Although I spent much of my early life in Bahrain, I spent the last 26 years living and working as a chef in the UK. After such a long time away, I decided to finally come back home and start a new life here.

How many outlets do you have?

We currently have only one in Budaiya, but are hoping to move into a bigger space.

“Quite simply, I think we place a lot more emphasis on the taste of the food. All of the sauces are made in-house.”

How did you come up with the name ‘Adleez’?

Well, my cousin and I started this venture together and ‘Adleez’ was meant to the be the plural of Adel – the name we both share!

Has the removal of meat subsidies had a major impact on business?

Well, I wouldn’t say a major impact. The only difference it’s made so far is that we’ve had to remove a few items from the menu that we felt didn’t justify the cost of procuring to serve.

What type of food do you serve there?

We serve a wide range of foods.

We advertize ourselves as a burger and pizza place, but also serve dishes such as grilled chicken and pasta. We are also planning to add a couple of other items that would be popular with the local customer base such as curries with rice.

What makes your restaurant stand out from the rest?

Quite simply, I think we place a lot more emphasis on the taste of the food. All of the sauces are made in-house. I think my vast experience as a chef working abroad has been a huge advantage.

From where did you get the funding?

We started this restaurant with money that my cousin and I had saved up over the years. And so far so good.

What are your future plans?

Our long-term plan is to obviously start opening a couple more branches around the country, but for now we are just looking to move into a bigger space and further perfect our menu.

What was the inspiration behind the designing of the restaurant? Who designed it?

We designed it ourselves! We’ve had no help from any interior designers, and just chose the colours and furniture that we

liked. We’ve also been fortunate enough to have our family and friends help us out by suggesting ideas and improvements wherever possible.

What advice do you have for someone hoping to open their own restaurant?

Always bear in mind that the customer is king. As good a chef as you think you are, you need to take into account the preferences of the customers you are serving. Some of my popular dishes in the UK didn’t have as much of an impact over here because Bahraini people simply aren’t used to that kind of food. So my advice would be to try adapting to your customers’ needs as much as possible.

To find out more about Adleez, follow them on Instagram @adleezrestaurant.

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“We focus on selling the future potential of a client’s business rather than its past performance.”

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IntervIew

The Business ThaT sells Businesses Interview with Mohammed Baqer, CEO of BCMS Gulf n the previous issue, we discussed online food service Talabat’s recordbreaking sale to German company Rocket Internet.

Following up on that story, we talk to the man whose business it is, to facilitate deals of that nature. Helping people sell their businesses for the highest possible price is what Mohammed Hussain Baqer, CEO of BCMS Gulf, - a subsidiary of BCMS Corporation UK - does! The corporation is synonymous as one of the world’s most trusted business-selling advisors.

Before we get into details aBout your work, let’s start with a little Background history. where did you go to university and what were you doing prior to starting BcMs gulf?

I am fortunate to have come from a third-generation family business and a long line of entrepreneurs. After my college years in Boston and Washington DC, I gradually began working in our furniture business, one of the oldest in the country, having been established in the mid-forties. After having travelled extensively over the past decade to trade fairs and exhibitions, I began to develop and hone the necessary skills and traits required in international trade and business until I was eventually Deputy Managing Director.

what was it that inspired you to start BcMs gulf? are any other faMily MeMBers involved in the day-to-day running of the coMpany?

It all started a few years ago when I was involved in the sale of a family-owned overseas business which was well-reputed in itself, having a solid fifty year track record. It was then that I had first-hand experience of what goes into selling a business, including its complexities and sensitivities. What inspired me was immediately recognising the value in the solutions that BCMS provides to private businesses globally with a very local and personal demeanour. I think one of the key characteristics that makes BCMS different is that we like being approachable and not necessarily formal, and that is because BCMS is in fact a family-owned business. BCMS Gulf was launched in Bahrain in May 2015. And yes, all members internationally are viewed as family!

what services does BcMs gulf provide for its clients?

First, we focus on selling the future potential of a client’s business rather than its past performance. Next, we create a competitive bidding environment by leveraging our global resources to bring international buyers to the table. Finally, we offer negotiation expertise to deal with any hurdles and maintain momentum to a successful conclusion. The combined

impact of this unique offering means clients get maximum value, and a deal gets done.

why did you choose to partner up with the already- estaBlished BcMs corporation uk, instead of starting a coMpany froM scratch?

For a number of reasons. One being that BCMS has a proven model that works very well and with over two decades of experience under its belt, it is no wonder that BCMS enjoys being known today as the world’s top ‘sell side-advisor’.

The level of meticulousness and thoroughness is clearly delivered throughout our two dozen offices globally and that is how we are able to create choice in the market.

in the previous issue, we talked aBout talaBat’s record-Breaking sale. do you think Bahrain has the potential to create the next Major internet coMpany?

The Kingdom of Bahrain has taken outstanding measures towards its support of the private sector through Bahrain Development Bank including their new Rowad program to ensure that each start-up or SME has full capability to grow into an exceptionally successful company. We have seen similar regional success stories of dot com companies picked up by global ones such as Maktoob by Yahoo! and Zawya by Thomson Reuters so in fact the outlook for having a similar case in Bahrain is surely possible.

what factors do you take into account when assessing a coMpany’s valuation?

We are known for taking a different view to other advisors on this. It’s about motives, not multiples. Whereas most acquirers work from applying EBIT multiples they are comfortable using, the competitive environment we create on our deals means we can achieve nearly three times the value of the lowest offer.

froM your experience, what is the single Biggest Mistake entrepreneurs Make when starting their own coMpany?

I would not call it a mistake but rather perhaps a misconception.

The passion for creation is what drives the entrepreneur, and that is what eventually gets the company to the successful position it is in during the early days. Often times you will find that at a later point, the motivated entrepreneur starts to turn into an executive or manager and with time starts having to deal with regulations and restrictions on a daily basis rather than focusing on developing what started the business in the first place. To keep the company growing surely requires new resources and a larger infrastructure to engage with which would allow the company to excel and prosper further, which can properly happen through a strategic acquisition. This is something which can be very liberating on multiple levels, especially regarding the nature of a serial entrepreneur who seeks new challenges and setting up start-ups. There’s a generation gap here too.

Younger entrepreneurs have a fixed idea of how long they want to stay in their business - older business owners less so. Our main advice here is to develop the business so it can be easily separated from the founder. If the founder is critical in many areas, the business is less attractive to a buyer..

which Business sectors in Bahrain do you think will see the Biggest growth in the next five years?

Construction and tourism still have a way to go before reaching saturation point, but we see business services as a key growth area. Enterprises from management consultants to office suppliers, and from recruitment agencies to event management specialists are essential for service economies to thrive, so we expect to see more of these reaching maturity. april 2016

55

A Grand

Affair The Billion-Dollar Business of formula one

F

ormula One is an industry worthy of study in itself.

F1 is the most watched annual sporting series in the world, with a viewership of over 525 million people over a season. It has an estimated turnover of more than $4bn; employs around 50,000 people in more than 30 countries, and embodies the cutting edge of technology. In this feature, we take a look at four main areas of the sport and how each of them generates revenue over a season.

Formula One Group Television righTs: $450 million

The Group’s main purpose is essentially to control the sport’s commercial and promotional activities, meaning there is a lot of money to be made from television and video/computer game rights. Last year, revenue from television rights added up to around $450 million.

Fees From hosT counTries: $800 million

Circuit promoter fees account for 33.6% of F1′s annual revenue. On average, it costs around $40 million a year for a promoter to host a Grand Prix weekend, which over a season, adds up to around $800 million.

sponsors: $300 million

Corporate sponsors find F1’s global reach appealing. F1 has signed deals in recent years with Emirates airline, watch manufacturer Rolex and communications firm Tata, bringing in a total of almost $300 million annually.

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aprIl 2016 2016 april

Bernie Ecclestone, Formula One Group CEO

Drivers

salary: up To $50 million

Not everyone in Formula One is a multi-millionaire, although the top F1 drivers are some of the highest-paid athletes in the world. Ferrari’s Sebastian Vettel is being paid a total of $150 million to stay with Ferrari for another 3 years, whilst Felipe Nasr and Marcus Ericsson are each being paid only $185k to race for Sauber this year.

sponsors: up To $25 million

Drivers like Lewis Hamilton are paid a king’s ransom for their sublime talents

On a controversial note, some drivers are only in Formula One due to the lucrative sponsorship deals that they bring to teams. For example, Lotus driver Pastor Maldonado and Sauber driver Marcus Ericsson are both rumored to bring in around $25 million worth of annual sponsorship to their respective teams, with a small part of that amount being set aside for their salaries.

Circuits

TickeT sales: $34 million

Sales of vending and concession stands at tracks brought in an average of $33.9 million in 2013, the latest year for which accounts are available. As for individual tracks making money, they just about break even with ticket sales and have to conduct race and track days throughout the year in order to make any profitable turnover.

Tourism and hospiTaliTy: $900 million

While the world’s spotlight shines on a country during an F1 race weekend, the amount of international prestige a country gets, and revenue generated from its tourism and hospitality sectors makes the country’s investment extremely rewarding. Last year, an estimated $900 million in revenue was generated as a result of the Bahrain Grand Prix.

With 21 races on the calendar, the 2016 F1 season is set to be the longest ever

Teams prize money: up To $200 million

Under the terms of the Concorde Agreement signed in 2009, 50 per cent of the revenues of the Formula One Group are divided among the teams. Ferrari has a special deal and gets 2.5 percent of the overall prize fund and the rest is then split between all the teams depending on previous season’s performance. Last year Ferrari earned an estimated $165 million in prize money despite not having won the championship, and the Marussia F1 team earned $10 million despite not having earned a single point.

sponsorship: up To $300 million

Sponsorship from tobacco companies were a major source of income for teams until 2008, when tobacco laws restricted their presence

All those brand logos you see on the sides of the cars are not simply for decoration. Multi-million dollar sponsorship from companies looking to market their brands on a global stage can add up to 80% of a team’s total revenue during the year. To put this in perspective, Ferrari earns over $200 million annually from just three partners: Shell, Santander and Marlboro-even though Marlboro’s logo is not visible on the car.

aprIl april 2016 2016

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money MONEY talks TALKS A look at the F1 brand’s biggest sponsors he secret to scoring the most lucrative business deals can be found on the race track, as Formula One sponsorships have proved. While companies can sometimes sponsor individual drivers, teams or a single local race, we take a look at some of the biggest names associated with Formula One Group itself: the group of companies responsible for promotion and exploitation of the sport’s commercial rights.

AlliAnz

DHl

Annual Budget: $17 million

Annual Budget: $27 million

With an annual expenditure of $17 million, the German financial giants certainly make their presence felt. Entering the scene as a sponsor of the Williams F1 team in 2000, Allianz has since become one of the Formula One Group’s most recognizable global partners.

The largest logistics company in the world pays the Formula One Group a hefty annual sum of $27 million for advertisements at select Grand Prix throughout the year.

However, as the Official Logistics Partner of Formula One, in charge of transporting all cars and equipment between races during the season, they more than make up their investment from the massive exposure they receive and transport charges from the F1 teams themselves.

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November april 2016 2015

UBS

ROlEX

Annual Budget: $35 million

Annual Budget: $32 million The Swiss-based global financial services firm, Union Bank of Switzerland, first entered the F1 scene as a global partner in 2010, signing a whopping $54 million-a-year deal. Since 2014 however, they’ve significantly reduced their annual expenditure to $32 million, nevertheless still maintaining a notable presence on the F1 stage.

EmiRATES

After a long history of involvement in a number of North American sportscar championships, in 2013, luxury watchmakers Rolex entered the F1 scene by signing on as their Official Timekeeper. The deal also includes 10 years’ worth of sponsorship at 15 races per year, extending until 2023.

TATA COmmUniCATiOnS Annual Budget: Unknown

Annual Budget: $40 million As F1’s biggest official spender, Emirates Airline is no stranger to the sport. Previously a sponsor of the popular Mclaren F1 team, in 2013 Emirates signed a five-year sponsorship deal with the Formula One Group worth a cumulative sum of $200 million. Similar to Rolex’s deal, the Emirates sponsorship package includes placing of advertisements at 15 races per year.

While the exact worth of their current sponsorship deal has been kept under tight wraps, Tata Communications’ involvement in the sport cannot be overlooked. In 2015, The Mumbai-based company became F1’s Official Connectivity Partner as well as a live-stream broadcaster of F1’s supporting events during the weekend such as the GP2, GP3 and Porsche Supercup series.

November 2015 april 2016

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Pick the right partner.

7 Ways to Prevent

a Business PartnershiP From GoinG Bad

Business partnerships are tricky business. A single entrepreneur can’t possibly consider every flaw in a given strategy, and can’t come up with infinite new ideas.

By: Larry Alton

Freelance Writer & Former Entrepreneur

A

partnership, on the other hand, opens the business to twice as many ideas, twice as much strategic thinking, twice as many potential deals, and twice as much initial work.

The dilemma is that such a partnership might also open a company to twice as many disagreements, and twice as many chances for future problems.

Partnerships have a lot of advantages, but a lot of weaknesses as well, especially as the company develops beyond startup mode. Still, there are a handful of strategies you can implement to prevent your partnership from going bad.

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Your choice in a business partner can mean everything. Going into business with a friend or a spouse can seem like a good idea at the time, but if something goes sour with the personal side of the relationship, the entire business could crumble.

Going into business with someone aggressive and who’s enthusiastic about taking risks might seem like a good complement to your more conservative nature, but radically opposing viewpoints will ultimately clash in the long run. Choose someone reliable, dependable, and reasonable, with good business acumen and a true commitment to the longevity of the business. It isn’t an easy decision, nor should it be.

Set expectations up front.

Dispel any preconceived notions or fundamental disagreements as soon as possible. Work with your partner to set certain rules and expectations before you get into the day-to-day responsibilities of running a business.

For example, how are you splitting business ownership? How are you handling hiring? What happens if the two of you can’t come to an agreement on a given decision?

The more of these subjective questions you can answer in advance of the company’s formal creation, the better. In many cases, it’s advantageous to have a partnership agreement drafted, to keep you both accountable.

Benefits should be mutual.

Ideally, both you and your partner will stand to benefit from the partnership. This should go without saying, but eventually, some partnerships drift toward being two individuals each seeking what’s best for him/her. When you make a decision for the company, it should always be in both parties’ best interests.

Accordingly, when you first select a partner, you shouldn’t choose someone substantially more or less

experienced than you. Instead, you should choose someone right around your skill and experience level. That way, you’ll both stand to benefit more or less equally from the partnership.

Clients come first.

This is a golden rule for partnerships. Eventually, you’re going to get to an issue where you fundamentally disagree. In these situations, it’s important to go back to what truly matters—the clients. Does one decision favor the clients more than the other with similar risks and expenses? If so, that’s the decision you should make.

Your clients are the reason your business exists in the first place, and they’re responsible for supplying your business with revenue. Rather than thinking about what’s good for you or good for your partner, remember to acknowledge what’s especially good for your clients.

Have mutually trusted third parties.

When you start a business partnership, it’s beneficial to have a third party on the outskirts of your business who’s neutral and familiar with both of you. This person should have ample business experience and a level head, as he/she is going to serve as a kind of mediator in certain situations.

For example, if you and your partner have fundamentally different opinions on where the business should go, you can discuss the matter with the mutually respected (and neutral) third party to get an unbiased outside opinion on the subject.

Having multiple third parties on standby is even better. It leads to faster conflict resolution.

Don’t take things personally.

As long as you’ve selected a worthwhile partner, you never have to worry about being personally attacked in a business partnership. Even if your partner pushes for an issue that you adamantly disagree with, remember that he’s only pushing the issue

because he truly believes it’s going to be best for the business.

It will be hard at times, but try to never take these decisions and opinions personally. If you can distance yourself this way, and stay as calm and objective as possible, you’ll be a better business partner in your own right, and the business will have a better chance to prosper.

Know that most partnerships don’t last forever.

are perfect for the middle ground, where partnerships have the true potential to last, but need a little help along the way.

Remember that partnerships necessitate differences, so arguments and disagreements are to be expected. The key is to remain respectful and to have pre-agreed methods of mediation and settlement for your key decisions.

In most situations, partnerships eventually dissolve. One person might leave out of dissatisfaction, or merely to pursue another opportunity.

Because of this, you need to prepare for two eventualities.

First, build out contingency plans to protect yourself and your business if your partner decides to leave.

Second, be mentally prepared for your own departure in case the business no longer benefits you.

Some partnerships can last forever. Others will go bad no matter what you try and do. These strategies

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Family Matters Creating an Enduring Family Business

By Mike Orlov We have recently been examining how to ensure long-term future successes for family-owned businesses. From these reviews we have uncovered guiding principles, hammered out in the furnace of often-heated debate and discussion.

Perhaps the most important agreed factor for an enduring enterprise is you cannot secure future growth of a family-owned company using yesterday’s methods to build today’s successes.

Focus on the Future

Future success will not be stimulated unless political in-fighting of family members is controlled. These growing numbers of family members have needs which have to be fulfilled but these needs ought to be aligned to ensure momentum for the enterprise, otherwise the leadership dissolves into armed camps attempting to point the company in different directions, ensuring no forward movement and ultimate degeneration and collapse.

To be successful in the future, today’s enterprise has to be capable of responding to change and this is particularly true for familyowned concerns where there is a tendency to attempt to hang on to old ways for too long. Family-owners have historically taken longer to make changes to the way things are done in their business than companies with a wider range of shareholders. In a corporate entity the pressure to respond speedily to change is more acute, driven by a broader range of voices influencing stockmarket reactions; the board of directors has a responsibility for the price of shares as well as to all other stakeholders.

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Establish Effective Governance Family-owned businesses are far better positioned to thrive across generations when the family members embrace and drive effective governance, including the selection of a board bringing experience, insight and objectivity to decision-making. Other factors of good governance which are relevant for family-owned enterprises define the rights and responsibilities of stakeholder groups, determining how decisions will be made.

Good governance also establishes checks and balances, such as not allowing family members to make unauthorized withdrawals of cash from the business, ensuring adherence to accounting standards. Long term success for family-owned enterprises depends on trusting professional management which is agile and nimble, rather than responding in ways which can only be characterized as fossilized protectionism. Too often we have seen enterprises where senior managers, totally dependent on how the family sees them, try to control every action of the organization. Things are going wrong when internal approvals demand at least six signatures before anyone dare make a move.

When decision-making slows down and line operating professionals are faced with a formidable checklist of clearances which are required before anything can be done, then action has to be taken to ensure an enduring future for the family-owned enterprise.

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What to do for enduring success  Recruit a board of directors which is capable

of guiding the enterprise for the future, often with outside help from a consultancy focused on intervention and implementation as well as analysis

 Build a C-Suite which is capable of agile and

nimble decision making

 Remove fossilized management trapped in the

past; loyal, historically successful but incapable of handling the volatile, uncertain instability of today’s complex and ambiguous business world

“To be successful in the future, today’s enterprise has to be capable of responding to change.”

 Organize consulting, training and business-

coaching for family-members from service providers who are skilled in customized analysis, intervention with specific programs and guiding implementation of new learning and skills for these family-members as well as for the board, C-Suite, leaders, managers and key employees

 Provide the environment for alignment and

synergy for all stakeholders, developing strategic planning, excellence in execution and performance management with measurement tools to guide the company towards enduring future success

Get Rid of Excess Baggage

When pleasing the chairman’s office becomes more important than delighting and exciting customers, when power shifts from line functions to finance, when cost-saving is a more vital activity than expanding revenue-lines, when legal and treasury needs become more urgent than strategic planning and execution, then it is time to review how the business is being managed. Long-term future success for a familyowned enterprise demands the owner defeats those who attempt to protect their jobs and bog the business down in bureaucracy rather than manage success for the future. The family needs to get focused on allowing swift actions and reactions from the front-lines of sales, marketing and operations. Having family-members, the board of directors, C-Suite, leaders, managers and key employees aligned and well-coordinated where there is a commitment to explore change when change is necessary will ensure an enduring and successful family-owned enterprise. Achieving this is not an easy task.

Stay Committed

What to Watch out for:  Internal family and company politics are more

important than business success

 Family-members not joining other companies,

working to prove themselves

 Relying on historic management and historic

ways of operating

 Good cash reserves only because new project

investment slows down

 Tactical decisions taken and then changed

quickly; crisis decision-making, made day-to-day, in response to problems

 No planning, goal-setting, execution and

performance management

 The annual budgeting exercise takes 4 months

to complete

 More people reviewing than doing  No one is addressing future sales pipelines or

scouring the far environment (STEEPLE focus)

 Detailed financial reports are demanded,

get generated but few read them and no action is taken

 Political alignments decide which investment

proposal gets approved

 Initially decline does not show up in the financial

results due to deft book keeping

 Declining revenues over a number of years

are hindering the business, the bottom line is protected through savings but there is no focus on new revenue opportunities

“Future success is often driven by encouraging younger family members to experience the hunger and drive of the founder of the company.”

As family-owned businesses expand from entrepreneurial beginnings, where the inspiration and hard work of the original family-member who launched the company drove success, they face unique challenges. Generation by generation, as the number of family members dependent on the success of the company grows and increases, with probably few actually working in the business, the commitment for the family to carry on as successful owners cannot be taken for granted. Those following the hard-working founder may insist on running the enterprise in ways which could be damaging for the company. These younger generation family members may not be qualified to manage the business. Having said this, ensuring an enduring future for a family-owned enterprise demands keeping family members committed to leading the company. Experience shows future success is often driven by encouraging younger family members to experience the hunger and drive of the founder of the company, by expanding their professional leadership and management skills and experience, often in other organizations for a while, and ensuring they are steeped in the nitty gritty of the company’s activities and processes.

The aim of business is staying in business.

All enterprises are faced with challenges to achieve this, ensuring their relevance and continued viability. Companies need to continue to add value to customers who are prepared to pay an economically acceptable price for this value. Family-owned businesses are however faced with unique threats which, if not recognized and quickly addressed, will drastically affect success in today’s market place and damage the ability to endure into the future, still owned by and still in family hands.

Mike Orlov Partner, SteppingStone Global

Before joining ‘SteppingStone Global’, Mike has spent 35 years in industry, publishing magazines at Haymarket, Turret and Reed Elsevier, working in newspapers and on digital channels in the UK and the GCC, having been a director at Northern and Shell and on the board of the London Evening Standard. Launching media brands in Dubai for ENG, Mike was also Chief Performance Officer for News Group International, before taking the Chief Executive role at Primedia International, with offices across the GCC and headquartered in Bahrain. Mike has completed an executive MBA, achieving a distinction.

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Belize’s BLUE HOLE, a fascinating Reef formation

An Exotic

Getaway Belize...More Than Jus t a Pretty Place!

By Dr. Alex Suchy von WeiSSenfelD 66

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As we were talking about the strong women in the world of business in the February issue, specifically those in the United States, and as we are on the North American continent already, why not take a journey down south? If you plan on visiting any country south of the United States, it’s usually a good idea to pack a Spanish dictionary, with the notable exception of Brazil, where the official language is Portuguese.

One country that stands out among all its Central, Middle and South American brethren when it comes to the use of Spanish as official language: Belize!

Background History

Belize recognizes a total of 8 different languages, Cantonese and old Mayan dialects among them, but uses English as official and legal means of communication. This country might be better known to some of us as British Honduras. It was a British Crown Colony until its independence in 1981,

Blue Surgeonfish in Belize’s Barrier Reef

remaining a parliamentary constitutional monarchy with HM Queen Elizabeth II as Head of State. Being a Crown Colony and the use of English as it’s official language was what attracted British investors as far back as the late 19th century; and even today, Belize has lost none of its attraction for - not only British - investors. British Common Law and the country’s excellent relationship with surrounding nations as well as being a full member of the UN and several other organizations like the WTO instilled sufficient faith in Belize that it has emerged as a major player in the offshore, or more accurately, “International Business Company” industry.

quite a bit in common. Both countries’ economy is largely based on the production and export of petroleum and oil and the real estate as well as the tourism sector either are or are being developed to become a significant ‘second leg to stand on’. One major difference exists, though; while Bahrain requires all companies to be registered with exact details on public record as far as their beneficial owners and directors are concerned, Belize is more of a ‘gentleman’ about these things and so the names or details of any beneficial owner or director of a Belize International Business Company are not filed with the Registrar and thus are not known to everyone.

Common Ground

Belize - The New Caymans?

Now why would a GCC, maybe even Bahrain-based, investor be interested in that? At first glance, Bahrain and Belize have

One of my first articles I ever wrote about the offshore company industry was

about The Cayman Islands, often simply referred to as ‘The Caymans’, a Caribbean offshore jurisdiction many of you will have heard of, even if you have nothing to do with business, overseas trading and don’t care for ‘tax optimized environments’. What made The Caymans so interesting for investors were their strong, unyielding laws on privacy and the ease at which a company could be registered; all this has softened up a bit over the years. Privacy laws have gotten holes and the list of documents, which have to be provided prior to incorporation, has grown considerably longer.

Belize, this outstanding country in Central America, has picked up right where the Caymans left of; setting up a business company is a simple enough, straight forward process and no details with regard to the beneficial owners or directors are filed with the authorities, which guarantees absolute personal privacy and confidentiality. Now that you have identified a solid, discreet jurisdiction, the question is, which type of company suits you best? Not everyone needs the same kind of company for his or her specific purpose: there is the ‘Limited Partnership’, the ‘Limited Liability Company’ or even the ‘Sociedad Anonima’.

Which one should and can you choose in Belize?

LLP is the way to go. Law Firms and similar service providers often choose this company style.

If your ambitions are greater and you wish to establish an entirely new legal entity, which can easily outlive any of the founders, yet provide them and each subsequent owner with complete asset protection, a Limited Liability Company, or LLC is a good option; and if this independent entity grows so successful, that more people ‘want a piece of it’, then opt for an upgrade to an SA, Sociedad Anonima, the equivalent to a Corporation or Public Stock Company. Belize is a good place for any of these as any company is only as strong as the legal framework in which it is registered, and Belize is top in this regard.

Types of Companies

While you can entrust a business consultancy with the task of opening a company for you, there is much fun to be had in Belize; diving into the ‘Blue Hole’ is an amazing experience and the natives are very friendly indeed!

To simplify matters, I’d like to take a minute to remind you of the general ‘idea’ of a company.

A company is essentially a group of people, who have decided to work ‘as one’ for a common purpose - usually to make money by engaging in a specific business activity - bound together by a legal contract. This contract defines not only the rights, but also the responsibilities of each partner, thus regulating how much of a potential profit is theirs and how much they have to invest and be liable for, in case things don’t go as planned. If your new company’s services and reputation mainly depends on a few individuals’ abilities and your group wants to make sure that these individuals’ rights and assets are protected, a Limited Liability Partnership or

“Any company is only as strong as the legal framework in which it is registered, and Belize is top in this regard.”

Dr. Alex R. Suchy von Weissenfeld is a Senior Consultant and Area Manager Middle East for C&S International LLC, an internationally active business consultancy out of Vermont, USA. He has spent the last 10 years in Bahrain and has held several academic positions with several local and international universities during this time. For the last 5 years, however, his focus has been on forming companies all around the globe and helping corporations and individuals use these International Business Companies to achieve their personal and professional goals.

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Social Media

Evolution 5 trends that are going to dominate 2016

By Anita Menon The first quarter of a year is an interesting time to analyse business trends. Social Media is a fickle subject to analyse for its ever-changing landscape. However, here are some trends that we may see unfolding over the course of this year.

1. Snapchat will dominate the social media scene If you are over the age of 30, the chances are you may not ‘get’ Snapchat and will continue to struggle with this social media channel that has taken over the lives of all the 12-somethings in the region. However,

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2. In-the-moment apps

if you are a marketer, you have to get into the groove and think of creative ways of using this less-explored platform because it has a base of 100 million active users of which the second-largest percentage of users come from Saudi Arabia. Among all the countries in the GCC, Saudi Arabia ranks first, while UAE ranks second in the total number of users on Snapchat. Although the latest statistic on the total number users in the Middle East is not available, it is easy to guess that this will be the channel of choice for most social platform users.

Social Media gained popularity because it provided the ability to the users to react to all those moments in time which we are special and mundane. Yet, if you look at the new lot of social media apps, they seem to make Facebook and Instagram look archaic. Periscope and Snapchat are about capturing all the moments in a candid way.

All the existing apps will have to fine-tune their abilities to be able to broadcast more ‘in-the-fleeting-moment’ to be able to keep their game up.

4. Buy-buttons usage will rise

Something tells us that in the near future, websites will become passé as all the social media channels adapt themselves to the website-related functionalities.

E-commerce is on the rise and it is a trend that the social media giants like Facebook and soon, Instagram have picked up on.

Installation of buy-buttons on the social platforms would ensure that customers do not have to hop sites and their commercial activity is contained within their preferred platform. By refining other supporting functionalities like search options etc., Facebook is gearing up to snatch the first–mover advantage in the e-commerce arena. The Middle East and GCC may be slow in adapting to this new feature in e-commerce but eventually it will concede.

5. Influencer – marketing “Visuals will continue to will be on the all-time high dominate compared to text-only content, especially short videos.”

Most of 2015 witnessed the region using regional influencers for all the high profile events. These mini celebrities perhaps exert more influence than the real ones with a considerable positive impact on the ROI! With followership in millions, brands in the region know better than to pass on the opportunity to use a social media influencer’s expertise in favourably influencing his/her following toward the brand. Strategies applied ranged from allowing the social media influencer to use the brands’ social media handles to push the brands’ influence to product endorsements. Mind you, large sums of money and other perks were provided to the social media influencers for such activities! In 2016, this trend is going to be strong and it will see the influencers hiking up their rate cards, so marketers, prepare to increase your budgets on social spend.

3. Privacy is going to be very important

One of the major reasons why an app like Snapchat is doing well, is because it allows for a lot of privacy. This trend in 2016 will see a lot of apps (existing and new) that support privacy and broadcast in close-knit groups. This will mean that advertisers will be restricted and will have to resort to less-intrusive modes of advertising.

Over the course of the year, more trends may emerge and die, yet the ones that survive will evolve to be leaders in the social space. Visuals will continue to dominate compared to text-only content, especially short videos. End-user preferences will continue to dictate despite the best efforts of the social channels to veer them to use new functionalities and apps.

Brand marketers will have to constantly analyse trends and figure out new ways to harness social platforms and the short-span psychologies of consumers. In essence, 2016 is going to be an emerging year for many new kinds of social platforms and functionalities and an interesting time for analysts to watch it unfold.

Anita Menon is the founder of the digital marketing firm The Butterfly Effect.

She converges her business consulting skills with her passion for social media to create digital marketing solutions for enterprises and individuals. www. thebutterflyeffect.co

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Cloudy Forecast

According to the largest independent oil trading house, Vitol, oil prices will stay low for as long as 10 years as Chinese economic growth slows and the US shale industry acts as a cap on any rally. Vitol’s CEO, Ian Taylor told Bloomberg in January 2016 that prices were likely to bounce around a band with a midpoint of $50 a barrel for the next decade.

In order to balance domestic budgets, Qatar needs oil prices to be nearer $80 a barrel (as does Kuwait and UAE) - Saudi Arabia really needs to see the price at $105 a barrel. The problem is that, psychologically, when oil hits $100 a barrel, consumers subconsciously use less oil, producers such as USA produce more of their own oil, and so less oil is imported from OPEC states. Equally important is that the call for renewable energy, the rise of electric vehicles, hydrogen vehicles, ride sharing, and even better mass transit (e.g.

Hyperloop) will serve to reduce dependence on oil. So if oil-dependent economies are to accept that they cannot achieve high revenues per barrel and are losing their established markets, what can be done?

Divest / Re-invest

Embracing Disruption How to Remain Globally Competitive in a Changing Economic Environment By: Neil Fogarty 70

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At the start of 2016, the issue of low oil prices is fairly unavoidable: the factors driving the price and the outcomes are shaping life in the Middle East and, subsequently, the world in general.

If we look to Abu Dhabi, Mubadala (www.mubadala. com) was established as a principal agent in the diversification of its economy.

This includes driving the establishment of new industry sectors and vital infrastructure in Abu Dhabi. Reducing its reliance on oil, the Mubadala portfolio is currently valued at $66bn and is an active investor in sectors and geographies with long-term value propositions that strengthen Abu Dhabi’s growth potential and help the government meet socioeconomic targets.

Reformation

Regarding Saudi Arabia’s December 2015 budget, the former Saudi petroleum ministry senior advisor, Dr

Mohammed al-Sabban stated that an economic reform plan was a “necessity and not a luxury”. Economic stability and growth tend to be strongly linked to political and social stability and this can be achieved when you are investing large revenues into providing subsidies and welfare support to the people - and a reduction in revenue and subsequent subsidies can put a strain on the social agreement between government and citizen. King Salman has already started making brave and challenging decisions including an increase in the price of subsidised petrol. In addition to this, we can expect to see a decrease in other subsidies, reduction in the growth of public sector salaries, taxation on ‘harmful goods’, cuts to non-essential spending and new investment into solar, wind and nuclear power. The standard hotspots for employment in many countries are sales, customer service and tourism. In terms of employment, a commitment to renewable energy will drive jobs but there is also a review of the use of foreign workers - the nationalisation programs across GCC have been causing workarounds rather than fixing the problem.

Disruption

Business in the region, as well as government, has to change but how can we maintain a global competitive advantage if we are reducing

our expenditure? The economy and reform in GCC offers an ideal opportunity for disruption - and one area to be disrupted is that of consultancy. GCC organizations spend heavily on consultants with a focus on the marque brands (McKinsey, Accenture, PwC, etc.) who deliver excellence at a high price or from ‘friends & family’ who lack the expertise but fit to a tighter budget. Companies are employing former consultants to run strategically-critical functions in the business and these ‘savvy customers’ are immediately looking to their professional services costs and the new thinking is simple: cost pressures force clients to abandon the easy assumption that price is a measure for quality.

Facilitated Networks

“Nationalisation programs across the GCC have been causing workarounds rather than fixing the problem.”

To disrupt this, we need to identify how to access the high quality of the marque brands but under a cost framework that makes excellence affordable. So consider this: there are approximately 27,000 McKinsey alumni - former employees who have moved on. Gathering this resource together gives access to a huge pool of McKinseytrained consultants… but

likely to be available at far more favourable prices.

And this leads to the rise of the ‘Facilitated Network’ organizations like BTG in the USA, Eden McCallum in the UK and Eskil in Europe and the Middle East - building and managing networks of Associates to deliver consultancy and projects. Each of these three organizations has a similar theme - high-end consultancy and project delivery with a better pricing model achieved in large part because they do not carry the fixed costs of unstaffed time, expensive offices, recruitment, and training. The approach of outsourcing and out-tasking non-core, non-strategicallycritical functions leads to a leaner organization. For example, when data and analytics are required, these organizations refer to modular providers of research rather than grow their own departments. Collaborating with the customer from the beginning to determine roles, responsibilities (input) as well as output and outcomes, the teams are generally staffed with mid- to senior-level consultants who bring a greater degree of experience, pragmatism and candour to the engagement. The growing sophistication of Facilitated Network companies leads to organizations breaking work

down into modules as opposed to handing everything over to one consultancy. Well-defined work with a clear risk profile is being awarded to Facilitated Networks whilst the more ambiguous, high-risk work remains with the bigger brands. Yes, ‘bet the business’ strategic problems will remain (for now) the realm of the big brand consultancies who will charge premium prices but, as smart clients review the work awarded externally and actively seek ‘new ways’, Facilitated Networks with leaner business models and new technology will be called upon more and more for straightforward projects and consultancy.

Social and commercial disruption will always happen - and circumstances akin to what we are seeing with oil-dependent economies will drive this quicker - the question is, are you seeing this in your organization?

Neil Fogarty is an international speaker, business writer and consultant.

Currently running his 12th company, Neil has written about his experiences in the books “Kill Your Salesman” and “#CrackOn”.

For further details you can check him out at www.neilfogarty.com

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Cov e r Story

2016 bahrain award

for entrepreneurship Celebrating this year’s outstanding winners The annual Bahrain Award for Entrepreneurship recognizes and celebrates the outstanding performances of the country’s most promising entrepreneurs during the past year, aiming to foster a spirit of innovation across all business sectors in the Kingdom of Bahrain. With the second edition of the event taking place in the first week of March, we take a look this year’s award winners.

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Start-Up of the Year

Khalifa Al Mannai

Mannai technological facilitations w.L.L. FoundEd on ThE BAsis oF TruE pAssion, EnTrEprEnEuriAl spiriT and excellence in service, iT soluTions provider, Mannai Technological FAciliTATions W.l.l., WAs iniTiATEd in 2014.

InItIally a specIalIst venture In It MedIcal servIces, the company rapidly expanded into sectors such as company projects and consultancy, which put Mannai on the map for further development and innovative expansion. Today, Mannai strives to be one of the best service

providers in the fields of health, training, solutions, and consultancy. Through their own platforms, Mannai has become one of the pioneers in the health facilitation sectors, providing customers with a cutting edge and innovative, yet simple and convenient way of managing health solutions worldwide through

what they call “The Phoenix Portal”.

Their vision is to provide and create excellence through tailor-made services, always putting the client’s need above all. They believe in establishing a borderless and flexible service which is able to bring experts, professionals and the common man together.

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SME of the Year

Dr. Lamya Mahmood

dr. Lamya’s Laser specialist dental Center dr. laMya’s laser specialisT denTal cenTer is The firsT laser specialisT denTal cenTer in The KingdoM of Bahrain and The gcc.

the center provIdes ultIMate excellence In dental servIces including the latest laser technologies, and cosmetic/smile makeover with digital smile design studio, orthodontics, surgery, pediatric dentistry, implantology with all specialties under one roof. Their

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goal is to implement the latest dental technology and pain-free treatment experience with their professional team in state-of-the art amenities.

The founder, Dr. Lamya Mahmood, completed her Master’s Degree in Laser Dentistry from Aachen University,

Germany. She successfully expanded the brand ‘Dr. Lamya’s’ from a simple practice to a specialised center, that is well known within the community for ultimate excellence in high quality dental services, in addition to her other local and international businesses.

MicroEnterprise of the Year

Alia Almoayed

alia almoayed nutrition Consultancy alia alMoayed is a nuTriTional TherapisT running a Busy nuTriTion consulTancy in The KingdoM of Bahrain, offering nuTriTion advice To The Middle easT coMMuniTy and Beyond.

WIth a background In publIc relatIons and MarketIng, Alia qualified in Nutrition after a personal illness made her reassess her health and search for natural solutions. She now writes health articles for various publications,

runs TV and radio programmes on health and nutrition, holds lectures and seminars on the subject, and leads life-changing health trips called Alia Retreats. Alia is the author of ‘I Want Healthy Kids’, ‘The Dream Body Eating Plan’, and ‘I Want a Healthy

Pregnancy’; she is also co-author of 101 Ways to Improve Your Health.

Alia is the founder and host of the Award-winning Arabic TV show ‘Shrayha Alia.’ She also runs the seal of well-being in her Alia Approved family of products.

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Sustainable Business Award

Hala Almoayyed

almoayyed Contracting Group (aCG) alMoayyed conTracTing group (acg) is one of The leading conTracTing coMpanies in Bahrain.

WiTh a core coMpeTence in Building consTrucTion, civil infrasTrucTure, inTerior fiT-ouTs and landscaping, iT has More Than 16 coMpanies under iTs uMBrella.

acg has successfully undertaken a dIverse range of projects, facilitating the overall growth and development of the Kingdom of Bahrain, doing so by offering international know-how to a local market. ACG believes in training

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its employees to offer turnkey solutions to its customers through a dedicated team of engineers and technicians. The Group prides itself in utilising the latest industry standards and innovations to ensure successful completion of its projects. Receiving numerous awards

and commendations for Health & Safety and Training, ACG puts a continuous effort towards its crucial role in society by believing in a strong corporate responsibility program and forging strong relationships with its business partners and the community at large.

Female Entrepreneur of the Year

Dr. Sara Al Reefy

London breast Care Centre The london BreasT care cenTre in Bahrain is a coMprehensive, MulTi-disciplinary Medical cenTre, offering a full specTruM of BreasT care services, froM screening and diagnosis To TreaTMenT, counselling and folloW up care.

WIth a vast aMount of experIence In the fIeld of breast surgery, oncoplastic surgeon, Dr. Al-Reefy founded and led a one-stop breast clinic at King Hamad University Hospital, prior to opening the London Breast Care

Centre Bahrain. The Center provides innovative, integrated, high-quality and cost-effective breast care services to women in a caring and compassionate manner.

This involves demonstrable and audited excellence of the three

essential components – medical staffing, diagnostic equipment and support services. The center’s vision is to improve breast awareness and provide women with quick, reliable and accurate diagnosis in one day.

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Enterprise of the Year with International Footprint

Mahmood Rafea

Midal Cables Ltd. Midal caBles is an aluMiniuM rod, Wire and conducTor ManufacTurer, originally conceived and esTaBlished in The KingdoM of Bahrain in 1977 as a doWnsTreaM projecT for adding value To The aluMiniuM MeTal produced By alBa sMelTer.

MIdal has groWn froM Its very Modest begInnIng, when it processed about 12, 000 tonnes of aluminium annually, to its present position as a globally recognised aluminium and alloy rod, wire and conductor manufacturer processing about 300, 000 tonnes of aluminium annually from its various plants in

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Bahrain. Midal expanded its presence and its global footprint by establishing manufacturing facilities in Australia, Turkey, Saudi Arabia & Mozambique with a combined processing capacity of over 150, 000 tonnes annually. Midal has earned international recognition for the quality of its products and its customer-oriented business approach.

The products of Midal meet various international standards and are supplied to almost every corner of the globe. Midal takes its corporate social responsibility very seriously and contributes its part in developing human capital by facilitating training and skills development amongst the local populace in each of the locations where it has established its factories.

Lifetime Achievement Award

Ahmed Mansoor Al A’ali

AMA Group of Companies Ahmed mAnsoor Al A’Ali is A pioneering BAhrAini entrepreneur, with over six decAdes of Business experience. hAving mAde significAnt contriButions to the nAtionAl economy, he Achieved unpArAlleled BreAkthroughs in the construction, contrActing And reAl estAte sectors in the kingdom of BAhrAin.

Born in the year 1930, he founded the Ahmed Mansoor Al A’ali company before reaching the age of 19, and further developed the business as a group of companies with diversified interests in real estate construction, manufacture and supply of equipment.

The company was also involved in other related fields such as mechanical engineering and manufacture of construction materials, either operating in Bahrain or as subsidiaries outside the Kingdom. For over 60 years, Ahmed Mansoor Al A’ali has been responsible for the establishment of various infrastructure projects and major developments in Bahrain’s government

and private sectors, including Salmaniya Medical Complex, Khalifa bin Salman Port, Bahrain International Airport, various water desalination and power generation plants, and the construction of custom-designed housing units. The company has also been responsible for the development of BAPCO production facilities and the opening of a fifth production line at ALBA, including provisions and facilities upgrade for the new bus transport network system in Bahrain. He is also recognized for his commitment to various social welfare and charitable organisations, and has helped provide university scholarships to numerous deserving

Bahraini students. He was conferred the Knight of the Order of Merit of France by former French President Jacques Chirac. Ahmed Mansoor Al A’ali is acknowledged for his important contribution to the development of trade relations between Bahrain and France, and for the launch of several French companies in the Kingdom of Bahrain. He holds several distinguished positions including Chairman of the Board of Trustees of the Jafari Waqf (religious endowments), Member of the Shura Council, Board Member of the Bahrain Islamic Bank and Takaful Company, and Honorary President of Al A’ali Charity Fund.

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INTERVIEW

Resounding success

Tamkeen’s role in the hugely popular Bahrain Award for Entrepreneurship ince its inception in 2006, no organization has done as much to support the Kingdom’s burgeoning entrepreneurial scene as Tamkeen. Playing a crucial role in this year’s Bahrain Award for Entrepreneurship with regard to organization of the event, as well as providing support for its winners, we talk with the company’s Chief Executive, Dr. Ebrahim Janahi.

How do the judges decide the winners?

Since its launch, Tamkeen has come a long way with regards to promoting startups and SMEs. What benefits or funding do the award winners receive?

In order to judge the applicants most deserving of the awards, as part of the evaluation process, does Tamkeen consult with a number of local startups or entrepreneur organizations?

Plenty! Award winners will receive a generous financial support package with provisions for growth programmes and business mentoring in alliance with the Award’s strategic partners and knowledge advisors, such as the Bahrain Development Bank. The financial support packages range from BD 20, 000 for the winner of the ‘Micro-Enterprise of the Year’ award, to BD 50, 000 for the ‘Enterprise of the Year with International Footprint’ winner.

Were there any major changes to the format or evaluation process from last year?

The only major changes were that two new awards were introduced in 2016: ‘The Enterprise of the Year with an International Footprint’ and ‘Female Entrepreneur of the Year’.

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Applicants will be evaluated on qualitative criteria: (1) Entrepreneurial spirit, (2) Strategy, (3) Innovation leadership, (4) Business responsibility, and on quantitative criteria: (A) Financials, (B) impact, (C) innovation and (D) talent. Out of a total of 130 applicants this year, 35 applicants made it to the semi-final round. These semi-finalists were made to conduct presentations pertaining to their business and entrepreneurial vision to the Technical Committee comprising of the Award’s strategic partners and knowledge advisors. Out of the 35 semi-finalists, 15 finalists were selected, after which they were all subjected to a criteria-based performance evaluation by an international Jury Panel, to select the Category winners. The Lifetime Achievement Award is awarded to a Bahraini entrepreneur for pioneering efforts and contributions of long-standing merit to the community and entrepreneurship.

Yes, Tamkeen collaborates with the Award’s strategic partners which include the Economic Development Board, Bahrain Development Bank and the Bahrain Chamber of Commerce and Industry. The knowledge advisors are led by the Ministry of Industry, Commerce & Tourism, EY Bahrain and UNIDO AICEI.

What is the main objective of the entrepreneurship awards?

The aim of the award is to encourage creativity, support enterprising ideas and elevate entrepreneurial standards of the award winners thereby enabling them to contribute to the Kingdom’s economic development. On the other hand, the award offers entrepreneurs the opportunity to win valuable incentives and prizes that that will further support and enable their businesses to attain new levels of growth.

An entrepreneur is defined as ‘a person who starts a business or businesses, taking on greater than normal financial risks in order to do so’. By awarding people who are managers of alreadyestablished business groups and family businesses as opposed to their own startup, don’t you feel that this discourages people from starting their own enterprise?

That is why we’ve included separate categories for these. We have categories for new companies and budding entrepreneurs including start-ups and micro-enterprises.

And other ones for established companies such as those which have already achieved international footprint, in order to make that distinction clear.

Are the awards for Bahraini nationals only?

While the applicants do not need to have Bahraini passports themselves, they must reside in Bahrain, and have in their respective companies at least one Bahraini as Founder/ Key Member of the Management team.

How did you find this year’s award ceremony compared to last year’s?

Overall, I think it can be compared quite favourably to last year’s event. We’ve built on the success of the first edition of the Bahrain Award for Entrepreneurship and it has been very well received by the business community. We look forward to working with everyone involved to encourage businesses in the Kingdom to work hard towards achieving their goals as we see their success as our own.

Which one of the winners were you most impressed by?

We were impressed with all applicants as a matter of fact! Many of the applicants showed an amazing level of passion for their work. Their dedication and continuous commitment to achieve their potential leads us to working even harder to reach out to them within the private sector and customising our support packages to meet their specific needs.

We are proud to work hand in hand with business owners to support them along the way.

What, in your opinion, are the traits of the most successful entrepreneurs? What separates the good ones from the great?

The qualities of an ideal entrepreneur are: enterprising, strategic, innovative, good leadership, responsible and employee-oriented.

“The aim of the award is to encourage creativity, support enterprising ideas and elevate entrepreneurial standards.� april 2016

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SPREADING

ThE woRD HOW TO BUILD A REMARKABLE BUSINESS BY FOCUSING ON WORD OF MOUTH

Most businesses spend time and energy chasing new customers. I think the real payoff comes from expanding and focusing your thinking on how to turn a lead into a real advocate for your business. For most, referrals happen accidentally as a result of doing good work or being in the right place at the right time. What if those valuable referrals could happen intentionally, as a result of doing work and putting yourself in the right place, with the right source, always at the right time?

By Eman Bu Rashid april 2016

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DESIGN ThE REfERRAl PRocESS • Become more referable – First you must analyze every way that your business interacts with customers and prospects – marketing-related or not – and inject positive, brand-supporting elements into each interaction – many referrals are lost because team interaction messed up the relationship.

• Target your sources – 1) Look at your

customers under a microscope – what is the profile of a customer who’s already referring business? Find that out and focus most of your attention on that kind of customer by making it easier for them to refer. 2) Who else has your ideal customer as a target? Strategic partners should be a major focus of attention. This is the place where you need to look long and hard at your ability to make referrals to others – give and you shall receive!

• Educate your sources – If you get a bad referral, that’s probably your fault. We can’t or shouldn’t ask for referrals until we tell our referral sources in great detail the type of customers we are looking for.

• Motivate your sources – Money for referrals is usually not a good motivation, but a creative kind of offer that turns referring business to you into a game is a great way to motivate your referral sources. Of course, saying, “Thank you” never hurts either.

• Follow-up with all – You’ve got to be

prepared to follow-up in a different manner with your referral sources. You also need to provide them with feedback on how much good they are doing by referring your business.

• Create key indicators – Make referral success part of your marketing measurement dashboard. It needs to be thought out, documented and incorporated into your day-to-day marketing efforts.

Now that you have a process, you’re almost half way there.

You will now need to put your process into action. You will have to systematically integrate your process into the everyday customer and network interaction. I can’t tell you how many business owners admit that they don’t get more referrals because they simply don’t think to ask for them or feel too proud to ask.

By designing “the ask” into your day to day routine, it’s more likely that it will get done.

PuT youR REfERRAl PRocESS INTo AcTIoN

Get an expectation mindset – first step is to believe that

you deserve referrals and more than that, you are doing your customers and network a disservice by not allowing them an easy path to bring the tremendous value your products and services can deliver to those in need. If you can’t get past this point, any system you devise will break down under the weight of your fear that you are simply begging for business. The mindset must spread across your entire organization – it’s everyone’s job to

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“youR lEAD coNvERSIoN PRocESS muST coNTAIN ThE coNDITIoN of REfERRAl GENERATIoN AS PART of ThE DEAl.” create, nurture and convert leads by way of thrilled customers. In addition, your lead conversion process must contain the condition of referral generation as part of the deal. “We know you are going to be so thrilled with our service, Ms. Customer, and we are going to request you to introduce us to 3 others that you know need these same results.” Now, some might find the above statement hard to say, but I’m telling you it’s the most positive marketing message you can say – we know you are going to be so thrilled that you will refer us. You still have to deliver, but when you do, you’ve established referrals as an expectation and condition in the relationship. It really is that simple.

Segment customers from partners – You need

completely different referral approaches and offers for customers and strategic partners. By targeting your approach to these segments you can more easily develop processes that make sense and motivate for the right reasons.

• For customers, the likely motivation is that they like what you do so much they want to refer you and you simply need to stay top of mind and make it easy for them to do. Hint: Ask and remind!

• For partners the motivation is quite different. Your job here is to effectively position referring yourself in a way that helps them add value to the relationships they already have with their customer. In light of this, the simplest way to do that is to create valuable education-based content, in the form of a workshop or event, and take it to them and propose they share it, co-branded, with their customers. They know they should be doing this so you’ve just made it easy for them to do something they want to do and you win.

Create turn-key tools – The education process of your referral sources can be aided greatly if you put tangible referral tools in their hands. Create documents that teach them your referral process.

• Create coupons and gift certificates and give them to your referral sources.

• Create jointly branded marketing materials for all of your strategic partners.

• Create a network blog that your strategic partners can all contribute to. Again, make it easy and it will happen.

Plan for logical collection – The place that referral systems fall down most often is in the actual collection.

Expectations are set, customers are thrilled, the referral motivation is in place, but nobody thinks to actually ask for the referral. Create processes that involve customer results reviews, project reviews and satisfaction surveys and use these as triggers for referral collection – you might just find that it’s a great way to really find out what a great/lousy job you are doing and course correct accordingly.

More than one creative entry point – Just as not all referrals are created equal, not all motivations are created equal. You must have multiple referral opportunities going at all times so that you can take advantage of the highly engaged customer who wants to set up a lunch to introduce your firm, the customer that needs the quarterly reminder gift certificate mailing, and the non-profit agency partner that would love to run a promotion with you to benefit their cause and promote you to their members. Start with one or two referral program offers and gradually add more as a way to keep the marketing focus on the subject of referrals.

Show your appreciation – The final step in effectively receiving leads is to develop a way to shower appreciation on your lead sources. If you make some sort of offer to incentivize referral sources you certainly need to honour that, but I find that a little token of appreciation such as a handwritten thank you, flowers or fruit goes a long way towards letting them know you appreciate the effort and support. I sometimes get a box of yummy chocolate when I make a referral. In addition to simply thanking your sources, you should also develop a path of communication that helps them know the impact their referrals have on your business and on those that they refer. If your referral sources learn that many of the leads they send your way enjoy the process so much that they become customers, this fact alone will often motivate them to continue sending referrals. If you’re already receiving a steady stream of referrals, focusing on improving your referral conversion rate by 5 or 10% could dramatically impact your bottom line.

Eman Bu-Rashid is a marketing strategist.

She is a Duct Tape Marketing™ Certified Consultant based in Bahrain, the only certified consultant of this network in the region, and the founder of Keynotes Consultants and OnePointSix. She has a passion for helping entrepreneurs and SMEs, specializing in creating simple, effective marketing and business growth strategies. To get more tips and advice on marketing, send her an email eman@ keynotesbh.com or visit her website: www.keynotesbh.com

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Working

for a cause An InsIght Into the World of socIAl entrepreneurshIp

By Khalid Al Qoud

T

he world is changing and our expectations are changing with it, so now is the time to build a business that can help overcome the important issues in our society.

Social entrepreneurship is the attempt to draw upon business techniques to find solutions to social problems. This concept may be applied to a variety of organizations with different sizes, aims, and beliefs. Social entrepreneurship also refers to the practice of combining innovation, resourcefulness and the opportunity to address critical social and environmental challenges.

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Social entrepreneurs focus on transforming systems and practices that are the root causes of poverty, marginalization, environmental deterioration and accompanying loss of human dignity. In so doing, they may set up for-profit or not-forprofit organizations, and in either case, their primary objective is to create sustainable systems change.

The key concepts of social entrepreneurship are innovation, market orientation and systems change.

Social entrepreneurs are united by their ability to adopt a mission to create and sustain social value (not just commercial value), recognize and relentlessly pursue new opportunities to serve that mission, engage in a process of continuous innovation, adaptation, and learning, act boldly without being limited by resources

currently in hand, and exhibit a heightened sense of accountability to the constituencies served and for the outcomes created.

The BenefiTs of social enTrepreneurship include: ď ´

Society:

Considering the areas in which you find a great deal of social enterprises, you can also detect the urgent need and potential for more skills and development for sustainable environmental development, Poverty reduction, Education, Medical and health care, Social deprivation and isolation, Sanitation, Infrastructure and building.

Fostering and supporting co-operations across disciplinary lines is particularly important in the Social Entrepreneurship sector and can create solutions to problems not discovered with conventional research and business methods.

The societies are constantly changing and old models for providing services and support may no longer be possible, or they have never even existed in some societies, which is why it is important to become more innovative and think of new ways to support different groups of people today.

Here is where everyone can make great contributions, big or small.

ď ´

Participant:

Social entrepreneurship programs will enhance the knowledge of the participants

in the business field and provide them with the opportunity to implement it practically in their day-to-day life. The participants will be able to help in implementing societal change, create inspiring solutions and also work as their own boss. Social entrepreneurship offers people the alternative to become their own bosses and work for something they have a passion for and believe in.

Self-employment does offer people a chance to have more balance in their professional and personal lives, use their education and experiences to employ themselves, and advance the causes they believe in. Social entrepreneurship opens the door for fulfilling all of the above goals and is highly demanded in our societies at the moment, thus offering infinite possibilities for people with various skills sets



Economy:

The major economic value that social entrepreneurship creates is the most obvious one because it is shared with entrepreneurs and businesses alike: job and employment creation. Estimates range from one to seven percent of people employed in the social entrepreneurship sector. Social Entrepreneurship can also solve some of the major problems in the economy like social cohesion, unemployment, etc. and hence boost the economic development.



Unemployed:

Social Entrepreneurship helps to solve the problem of unemployment in the economy by generating more jobs and income streams. For the young and unemployed people in the economy, who are turned away by companies due to their lack of experience, a potential opportunity could be self-employment.

One of the most effective approaches to help unemployed people who are keen to enter the entrepreneurial world is to educate and motivate them, and the Social Entrepreneurship program is a good motive to help those people achieve their goals.

“Social Entrepreneurship can also solve some of the major problems in the economy like social cohesion, unemployment, etc. and hence boost the economic development.”

Boosting Creativity and Innovation:



Social enterprises develop and apply innovation important to social and economic development, and develop new goods and services. Issues addressed include some of the biggest societal problems such as HIV, mental ill-health, illiteracy, crime and drug abuse which, importantly, are confronted in innovative ways. The social entrepreneurship

program will boost the creativity of the participants, may it be entrepreneurs or students. Creative social entrepreneurs generate market demand for their goods and services while also contributing to the dynamic shift in cultural sustainability, social justice, and economic development around the world. Sadly, social entrepreneurs operating within the creative economy seldom receive the attention of institutions practicing and promoting impact investing — a fairly new investment approach that seeks to create positive social and environmental impact and generate a profit.

More and more business owners and customers are looking for opportunities to be more charitable and help a cause they care about. Entrepreneurship is one of the most cutting-edge careers a person can get into, and because of that, the industry is also one of the most welcoming when it comes to making a major difference in social causes.

Khalid Al Qoud is the founder and Chairman of Al Qoud Consultancy and Prince Events Management. He is well trained in fostering professional relationships with various individuals at a local and international level, and has a deep understanding on how to approach them.

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Bill Gates

Bill Gates turns 60

Bill Gates, the world’s richest man and perhaps the most famous person in technology, turned 60 on October 28th. His parents wanted him to be a lawyer; but imagine how different the world would be without Microsoft. The entrepreneur and inventor made computers more accessible for all by spurring the rise of the home-computing market, and now his sights are set beyond PCs. Here’s how he wants to change the world:

Five ways he wants to change the world By: Helena Horton, The Daily Telegraph

1. He wants to get everyone in the world on the internet

This is still related to computing, and an extension of his lifelong pursuit of getting everyone on the computer, but more about equality.

Gates, Bono and Mark Zuckerberg were among influential figures who signed a declaration to get the internet to those who have been left behind by the 21st century.

“The Internet is critical to fighting injustice, sharing new ideas and helping entrepreneurs create more jobs,” reads the declaration, hosted by the advocacy group ONE. “But right now half the people on this planet don’t have access, especially women and girls.”

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2. He wants to solve global warming with a carbon tax and by developing nuclear reactors

Gates has been working with China on a pioneering nuclear reactor. The Travelling Wave Reactor (TWR) will be the first of its kind and uses cheaper nuclear fuel and produces less radioactive waste than current designs.

The company behind the reactor, TerraPower, says its TWR would help solve safety, environmental and cost issues that bedevil nuclear power.

Lee McIntire, chief executive of TerraPower, told the Global Construction Review: “The TerraPower-CNNC collaboration on advanced nuclear technology aims to benefit the world by pioneering new options in civilian nuclear energy that address safety, environmental and cost concerns.”

Gates is also pro-carbon tax. He said: “Without a substantial carbon tax, there’s no incentive for innovators or plant buyers to switch” to renewable energy.

3. He wants gender equality in the workplace

The issue of maternity and paternity leave has been cause for debate recently, and some companies have been aiming to close the pay gap and end traditional gender roles around caregiving and breadwinning by offering equal maternity and paternity leave.

The Bill and Melinda Gates Foundation, which employs 1,382 people, has done just this, offering up to 52 weeks of paid leave for both mothers and fathers.

This may cause other companies to follow his example.

4. He wants to change the way we eat

Gates has invested in a company, Impossible Foods, which wants to make meat and cheese products, such as burgers, without using any animal products at all.

Impossible Foods was founded by Patrick Brown, who spent 25 years as a biochemistry professor at Stanford, and it wants to make products which are

almost indiscernable from meat and cheese, are more sustainable to make and contain absolutely cholesterol, hormones, or antibiotics.

If this company succeeds, it could help with food shortages around the world, global warming, and public health.

5. He wants to combat infectious disease

Gates has contributed towards the world’s first ever malaria vaccine, which has now been given the green light to be used on babies in sub-Saharan Africa.

Unlike other vaccines that tackle viruses and bacteria, Mosquirix has been designed to prevent illness caused by a parasite. It works by stopping the malaria parasite maturing and multiplying in the liver, after which it would normally enter the patient’s bloodstream and trigger the disease symptoms.

He’s also recently been aiding the fight against polio in developing countries. april 2016

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Leading the Way

By Trevir Nath, Investopedia

Which Countries Will Drive Global Growth through 2016?

I

f the rather disparate predictions from the World Economic Forum in Davos are anything to go by, 2016 is set to be an incredibly challenging year. As the volatility that shook the markets in 2015 has carried over into the first quarter of 2016, a number of the largest economies are expected to carry the global economy as emerging markets fluctuate throughout the year.

a tide of Change

As the world enters into the much discussed ‘Fourth Industrial Revolution’, the uncertainty that this brings, and its impact not just on industry but society itself, is essentially opening up unchartered territory.

In the words of Professor Klaus Schwab, 90

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founder and executive Chairman of the World Economic Forum, “There has never been a time of greater promise or greater peril”. Taking into consideration these concerns and combining with the current volatility of the markets, sinking oil prices, the plunging equities market, the significant slow down in China and of course the lifting of sanctions in Iran, one has to look at the countries that could provide growth and stability as we saunter with uncertainty into 2016. The IMF has predicted that global growth will be around 3.4%, marginally less than those earlier predictions in 2015. So with the looming collapse of the Eurozone, Greece in particular, just which are the countries that will drive global growth in 2016 in such challenging times?

the United States

At over $18 trillion, the United States is the largest economy in the world. Besides being home to the biggest financial hub in the world, the U.S. economy is a leader in a number of facets in the global landscape. With a GDP per capita of over $50,000, the U.S. economy is all about consumer spending. The U.S. continues

to be one of the largest importers of foreign goods, strengthening trade which stimulates the global economy. Further, the United States is a significant business investor. In 2014, net foreign direct investment from the U.S. economy equaled $225 billion. This says the amount of capital outflow was far greater than the net inflows of investment.

China

Given how poorly the Chinese economy has performed recently, it may seem foolish to believe China will perform well in the global landscape of 2016. The 10% plus growth the economy had been experiencing has slowly waned and official expectations for 2016 hover around 7%. Despite the bearish expectations surrounding China, the second-largest economy is not on the brink of a financial crisis.

In other advanced economies, growth rates of 7% would be viewed with jubilation. To put this in perspective, advanced economies target 2 to 3% growth for a given year. As heavy industry and investment growth have slowed significantly, Chinese consumption and services have remained strong. The challenges which have plagued China to this point in 2016 come amid a transition from an export-led economy to a consumption based economy. It can’t be said with certainty whether China can overcome these obstacles in 2016, but when they do, they legitimize themselves as a more stable economy.

india

United States

Even through the current economic storm, the South Asia region, led by India, remains a bright spot in the global economy. The World Bank projects India to usurp China as the fastest growing large economy in Asia with robust growth projections of 7.8% in 2016. Behind the popular BJP party, Prime Minister Narendra Modi has put in place legitimate resources to tackle the country’s greatest problems. The central bank has cut interest rates multiple times to reduce the country’s chronically high inflation. Compared to most other major developing countries, India has positioned itself to withstand the near-term volatility.

New reforms have supported legitimate domestic business cycles and reduce external vulnerabilities in the global financial market. Progress on infrastructure improvements and government efforts to boost investments in infrastructure are expected to offset the impact of higher U.S. interest rates and strong U.S. dollar.

european Union

China

India

European Union

Moving away from Asia and towards Europe, the European Union has been performing quite unfavorably since the 2008 Financial Crisis. As the economy continues to wane, experts have predicted an end to the Eurozone if another financial crisis were to strike. That being said, there remain a few bright spots amongst the members that make up the European Union. England has viewed economic turmoil throughout the EU as a drag on their economy. During the recovery from the financial crisis, certain nations have been consistent sources of strength, such as the United Kingdom and Germany. As inflation and employment stabilize in England, the country is pursuing raising interest rates within the next two years. By raising the interest rates, the pound will remain relatively competitive when compared against the US dollar.

This can also be beneficial too for England exports to other regions in Europe. While a higher domestic currency typically means declining exports, England’s biggest importer happens to be fellow EU members in Europe. The stalwart of the European Union, Germany carried Europe through 2015 and is expected to do the same through this year. Germany’s growth has been driven by strong domestic demand as imports outweigh exports. In 2015, Germany experienced accelerated growth in private consumption, government spending, exports, and imports.

Consequently, the nation can operate with strong labor union and high-cost workers, which further boost employment and the overall economy. After a record year in terms of GDP growth, Berlin expects the German economy to expand into 2016 on the back of strong consumption and services. Since Germany is one of the largest economies, its success will have widespread implications for the European Union and on the global economy. april 2016

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Do Entrepreneurs Make Good Consultants?

By Michael Prywes

F

or a while, it seemed as though management consultants were turning to entrepreneurship.

But with the hazards of entrepreneurship, the market is seeing a new shift: entrepreneurs who take on consulting roles.

Some new consultants want to bring their experience to a new position. Others want to supplement their income during the early days. Either way, entrepreneurs have a lot to offer a consulting position. From invaluable hands-on knowledge to a multifaceted approach to solutions, there are many things that entrepreneurs bring to the table that a typical management consultant might not.

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Entrepreneurs vs. Consultants

In fact, there is one reason in particular that entrepreneurs make good consultants: knowledge. Consultants are valuable because of their knowledge. Entrepreneurs can offer practical knowledge of what it takes to make a business work.

An entrepreneur is a “doer� by definition. Entrepreneurs are more akin to dishing out practical advice to clients because they are familiar with the concept of taking action. This is different from someone who has previously worked as a consultant.

Consultants usually offer educated and theoretical advice. While they have the knowledge of business systems at a theoretical level, it can take a lot of time for a consultant to gain practical experience.

However, this practical experience is inherent in being an entrepreneur.

Entrepreneurs are also great multitaskers.

A successful entrepreneur can think about product development as well as the necessary business systems needed to support the product. Because they need to know what is happening throughout the business, they are familiar with the workings of almost every area of their companies.

In contrast, consultants often work in roles with high degrees of specialization. As a result, the role of a traditional management consultant is often more restricted.

Management Experience Matters Another reason that entrepreneurs make good consultants is because entrepreneurs are often better managers than management consultants. This is especially true in the case of consultants trained by large firms. Consultants from big companies have many managers. They also may experience a resultsdriven management style with high stakes and big egos. Consultants in this environment not only feel the pressure from their superiors; they also begin to emulate them.

However, those who come from an entrepreneurial background have an extraordinary amount of freedom.

They understand the necessity of a balance between flexibility and control. They do not face the same pressure from high level managers. They also escape preconceived notions about management style.

Of course, this is not suggesting that consultants from large firms are not great at their jobs. Rather, these management consultants are rarely groomed to be good managers.

Entrepreneurs also often feel a greater sense of responsibility as consultants. For a typical consulting role, the responsibility of the consultant is often limited. This is because consultants work to advise customers; they do not make decisions. As a result, the responsibility for implementing a solution is held by the customer.

Entrepreneurs are more likely to feel closer to the project than a consultant. They will feel the losses more personally than a consultant. They will also approach risk differently and with more gusto than a consultant.

Yet, they will simultaneously be more risk averse.

Most entrepreneurs will have experienced a risk that turned into a disaster. This leads them to approach risk differently than other types of consultants.

Entrepreneurs are more akin to dishing out practical advice to clients because they are familiar with the concept of taking action.

Final Answer?

Entrepreneurs and consultants both have valuable skills to offer each other. Not all entrepreneurs make good consultants and not all consultants make great entrepreneurs.

But when a successful entrepreneur has valuable insight to bring to the table, he or she can use it to help other businesses find success, too.

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5

ways to work

InteractIve

vIdeo Into your

MarketIng

strategy Updating your content marketing strategy to include interactive video can only improve your conversion rates.

By: Parveen Panwar CeO, vidaptiv Inc

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In today’s contentsaturated web ecosystem, nearly all of us have experienced a loss of direction.

We open up a URL only to forget what we planned to type.

We follow a trail of interesting links and before we know it, hours have gone by and we haven’t accomplished what we originally wanted to do. The problem of content overload — driven by the avalanche of memes, celebrity scandals, and cats scrolling down our social media feeds — is so severe that there are apps and websites like Pocket and

Evernote promising to help us wade through the drifts.

For those trying to influence potential customers through online videos, connecting advertising impressions to consumer actions is more important than ever. Passive ads that are easy to tune out just aren’t going to cut it for entrepreneurs looking to break through. A brand’s audience has to be persuaded to act on their feelings right now.

Enter interactive videos.

Here are five ways they improve conversions, proving they are essential to work into your content marketing strategy:

1. Interactive video connects branding to action. Video

is possibly a brand marketer’s most reliable tool for generating awareness, but until recently, it was mostly reliant on delayed audience reaction.

With interactive video, advertisers can add an immediate call-to-action (CTA) overlay button, catalog or feature in branded video content.

Interactive elements can be added to video content already produced. Or, video may be produced specifically with interactive overlays in mind for an even better user experience.

2. The data shows how interactive video ads work.

Compared to traditional ads, interactive ads generate higher click-through rates and purchase intent, according to one source.

Web audiences expect control and on-demand responsiveness. Being led by the nose by an unresponsive, static and impersonal ad is jarringly dated for today’s web users. The key to successful interactive videos is that they offer something more: user control, personalization and CTAs. All these elements of interactivity combine to make viewers pay attention to an ad, rather than tuning it out.

3. It increases conversion rates.

One of the most crucial and valuable aspects of interactive video is that it is perfect for giving viewers an immediate CTA — a specific, easily-executable

request that engages viewers and helps convert them into customers. Dynamic CTAs are even more effective, tailored to each viewer based on available data, ensuring that they’re never shown an irrelevant message, like asking them to buy a product they’ve already purchased. IAB data shows an eight percent lift in purchase intent among those who interact with interactive video ads.

4. It offers a better user experience. The

ultimate result of interactive videos is branding and CTA experiences, which are customizable to each audience and present new and useful information to viewers. They also grant the user control, make accessing additional content easily and seamlessly integrated into social media support.

Who wouldn’t prefer an ad that lets users skip around, pull up the most interesting

info with ease, and take further action with the click of a button?

5. Viewers become active participants. Allow

users to participate and give them a chance to become a part of the story.

This classic example by Choose a Different Ending allows the audience to actively participate by making choices that affect the outcome of the story.

They help determine the outcome of the experience, which brings positive awareness to a brand.

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t a e s t o in the h With I A N N A M L A A F I L A H K

Ound, r a e im t is h t ! s e u in s cOnt ie r e s y Of e l r t e d n e n B u g O f in i, O a g n n n O a r m u l O lifa a a h K h it r Of e w n t in a h w c d a n e a v s n iO t we ha a facilit l a ic g O l O n h c e t i a n ard. w a man r a e y e h t f O p -u t this year’s star

Powered april by 2016 96

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Odel "i Began studying myOmth g in n h it w , m O O r y m m O fr s a w st O c ly n O y m . p O t p la y But m in a m O d a t h g u O B i e r e h w 0 $8 ch a O r p p a O t il a m e s it d se u d an pOtential clients."

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First of all, congratulations on winning the Start-Up of the Year Award! How much does this award mean to you?

Thank you, the award means a lot to me because for a start-up, it’s difficult to gain credibility and trust from the public in the first couple of years. The award gave the public just that while eliminating any doubt they had in the quality of the services we provide.

Where did you go to university and what did you study? And where were you working before starting Mannai Technological Faciliations?

I did my undergraduate degree in Business & International communication at the University of Surrey, followed by an executive course in Financial Market Regulation at the London School of Economics (LSE). Immediately after, I started gaining on-the-job experience at Price Waterhouse Coppers (PwC) in London for a very short time until I decided that the financial world was not for me.

Starting a multi-national IT company must have been no easy feat! When and how did the journey start, and how many branches does the company have today?

I began studying my model from my room, with nothing but my laptop. My only cost was $80 where I bought a domain and used its email to approach potential clients. Once I received interest, I flew back to the UK to sign with these companies and came back and set up shop here in Bahrain. We currently have operations offices Bahrain and London, while we cater mostly to the GCC market remotely and have clients in about 7 countries.

Did your interest in technology start at a young age or was it something that you gradually fell into later in life?

Technology was always a passion of mine while growing up. I feel the reason behind Mannai Tech’s success is the fact that I took what I learned at university and used it to make what I love into a functional business.

Which areas does the company focus on and what kind of services can it provide for its clients?

Medical, training, and Projects (IT solutions and consultancy). Today, it’s mostly our Projects division that’s become the core of the company. We’re the only company in the region to consult for companies from a micro-start-up level up to enterprise, giving them the ability to grow through technology.

Based on your experience, how does Bahrain’s IT services sector compare with that of other GCC countries?

What does Bahrain need in order to become globally competitive in that sector?

Bahrain is not far behind in the IT sector; I would rank it second after Dubai. The problem is that Bahrain simply lacks qualified IT developers. I have struggled to find developers in Bahrain although I know we have a lot of talented bright people, just not enough.

Li-fi, which can transmit data over 100 times faster than Wi-fi, is predicted to become the next major technological breakthrough in the coming years. How long do you think it’ll be before we see this kind of technology in Bahrain?

How would such technology affect businesses and our everyday lives in general?

See, the thing with technology that impacts us at this level is that it takes a while for it to become “Market Standard” and affordable. I think it would take a good 6-8 years for it to reach that level where it’s affordable to the common man and would be widely available.

I can’t begin to explain how it would change our lives but think of it this way: we live in an age of information - imagine having 100 times the information you get now, instantaneously!

Aside from that, do you foresee any other major technological developments in the country in the next few years?

I believe that we live in an age of technology, and virtual communication

will widely take over the region. People will need to travel less and have everything they need to work remotely.

What do you think is the single most important quality that any entrepreneur must have?

Logic. An entrepreneur can sometimes be carried away with his dreams especially when he/she is passionate about them. At the end of the day, you have to understand that a business is just an expensive hobby but that its core purpose is to generate money.

And along those lines, what one thing about starting your own enterprise do you wish you had known before starting this company?

Growth is vital, but only to an extent. If you’re an overnight success, it's okay to reject or postpone clients. Only accept what you can handle. One would think that “more clients = more money”. In reality, you would need is to buffer the costs of the projects until payment is done. If you’re stuck awaiting payment, you can’t function and start to collapse.

Therefore, grow steady and not rapidly.

What are some major projects is Mannai Technological Facilitations currently working on and what are the future plans for your company?

I’m not at complete liberty to discuss some of the mind-blowing projects we’ve worked on, seeing that the entrepreneurs we deal with are protective of their idea, which is in their nature. I was like that at a certain point. In addition to that, we have also designed a learning room with the class in session being taught here and virtually in two other class rooms across the world complete with full integration. This was designed for a government body.

How do you like the Bentley?

I drove the Bentley Continental GT, and I have to say, I absolutely loved it! Aside from the luxurious interiors, I found the car’s smooth handling and drive simply incredible. I think anyone looking to buy a car for everyday use that also offers a huge amount of power and luxury should look no further than this beauty!

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Fashion

Statement pieceS to make a laSting impreSSion Business people, be bold. BIG’s picks from global fashion powerhouses vv

ETRO

LINEN AND LEATHER DOUBLE MONK STRAP SHOES

Linen and bronze leather for the classic double monk strap. Perfect to add a dandy touch to the summer look.

Etro, City Centre BD 240

GUCCI

TIAN GG SPREME KEY CASE

A key case made in Gucci’s supreme tian canvas, featuring a contemporary floral motif inspired by Chinese landscapes depicted on 18th-century tapestries and screens.

Gucci, Moda Mall BD 97

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GUCCI

LEATHER MID-HEEL LOAFER

The double g antique gold hardware is set on a blue/red web of these mid-heel leather loafers. The stacked heel has a row of gg pearls and studs and the back is designed to be worn with the heel folded down or up.

Gucci, Moda Mall BD 426

KAREN MILLEN

SANTA MONICA LEATHER BAG

Crafted from buttery leather, this versatile bag is named after our Santa Monica store. Drape over the shoulder with the chunky chain strap for a chic look.

Karen Millen, City Centre BD 91

PATEK PHILLIPPE

LADIES ANNUAL CALENDAR COMPLICATED WATCHES

This beautiful watch by Patek Phillippe comes with an 18K yellow gold case, sapphire crystal back, and is set with 156 diamonds, making it a true collector’s item. Like many other luxury watches, it comes with a mechanical self-winding movement.

Patek Phillippe, Bahrain Jewellery Centre, A’ali Mall BD 15, 000

HUGO BOSS

SLIM FIT COTTON BLEND DRESS SHIRT This dress shirt by BOSS is crafted from a soft cotton-blend with a hint of stretch for comfort.

Double back darts enhance this slim fit.

Hugo Boss, City Centre BD 65

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LifestyLe

To add more power To a high-flying lifesTyle

BOSE SOUNDTOUCH WIRELESS MUSIC SYSTEM

These wireless speakers connect directly to your home wi-fi network, so there’s no complicated equipment to worry about.

The SoundTouch® app lets you control your music from anywhere in the house with your phone or tablet. Six easily programmable presets let you play your favourite music from the app, the included remote control, or the system directly.

Virgin Megastore, City Centre BD 265

GMATE BLUETOOTH SIM ADAPTOR

With Gmate you can make phone calls from your iPod touch or iPad. Simply insert a sim card in Gmate, pair it with your iDevice, carry it in your pocket or bag and make phone calls from your Apple product.

Tarsam, City Centre BD 71

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NIkE FUELBAND

The sleek and sporty Nike FuelBand tracks your activity through a sport-tested accelerometer. The FuelBand tracks running, walking, dancing, basketball - and dozens of everyday actions. It also syncs up with a motivational web and mobile experience.

Nike Store, City Centre BD 48

LIQUIPEL ION-GLASS JELLYFISH MOOD LAMP

This desktop tank holds three jellyfish which ‘swim’ around the tank. At the top of the tank are 6 bright LEDs, which let you set the mood.

You can either have them blend softly from one color to the next, or stop on your favorite color.

Add just a few drops of liquid dish soap to the water to get your jellies to swim properly.

Tarsam, City Centre BD 10

ION-Glass by Liquipel is the most technologically advanced solution in tempered glass screen protection. By utilizing the specialized ion hardening process and optical grade glass, ION-Glass is able to achieve optimal clarity and scratch resistance without changing the feel or sensitivity of your device. Our advanced silicon adhesive allows for an easy, 1-touch install while the oleophobic coating keeps your screen looking clean and smudge-free.

Radio Shack, Seef Mall BD 7.5

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the BIG

hotel guide Your guide to the Kingdom’s hotel outlets

Sofitel Bahrain Zallaq thalaSSa Sea & Spa  Dining

Fiamma: Italian Restaurant

Designed with an indoor and an outdoor seating area, this outlet will serve authentic Italian food.

Opening Hours: Thursday - Saturday 12:30pm to 3:00 pm, Every night except, Sunday: 8:00pm to 11:00pm (Fiamma is closed on Sundays)

Saraya: All Day Dining / International

Exquisite buffets with flavors from across the world.

Available is breakfast, lunch and dinner and also a la carte and live cooking station.

Opening Times: Daily 6:30am to 10:30am, (11am on weekends) Lunch: 12:30pm to 3:30pm, Dinner: 7:00pm to 10:30pm

Wok: South East Asian Restaurant

The perfect combination of stones and wood in the décor to reflect an Asian feeling is defiantly there.

Opening Hours: Wednesday to Monday: 7:00pm to 11:00pm (Wok is closed on Tuesdays)

Tapas: Restaurant

It services a wide range of exciting tapas, and the best cocktails on the island. Tapas bar has a truly vibrant and lively atmosphere with its Cuban band.

Opening Hours: Daily: 11:30am to Midnight

La Mer: Seafood Restaurant

Sheraton hotel Bahrain 

Shopping

Alhilal Bookshop

It is the signature restaurant of the hotel, guests will enjoy the freshest seafood and catch of the day cooked at the live cooking station with a French savoir-faire to please all tastes.

Al Safir Restaurant

Opening Hours: Daily: 9am to 9pm

Opening Hours: Daily: 7:00pm to 11:00pm

For Information

Pashawat: Arabic Restaurant

Dining

Gastronomical buffets for breakfast lunch and dinner as well as superb á la carte options.

Opening Hours: Breakfast 6:30am - 10:30am Lunch 12:30pm – 3.30pm, Dinner 7:30pm – 11:30pm

Soie Chinese Restaurant

Alhilal Bookshop: +973 17 531 665

Spa & Salon

Image Spa & Leisure

Relax in the dramatic ambience with dark wood floors, oriental ornaments and lanterns.

Opening Hours: Daily: 6am to 10pm

Opening Hours: 7:00pm – 11:30pm (Closed on Saturdays)

Opening Hours: Daily: 7am to 10pm

Golestan Restaurant

Sheraton Health Club Sheraton Fitness

Discovery of traditional Iranian dishes with freshly oven-baked breads served at the table.

Opening Hours: Daily: 9am to 8:30pm

Opening Hours: Sunday to Thursday Lunch 12:30pm – 2:45pm, Dinner 7:30pm – 11:30pm Friday: Lunch 12:30pm – 3:45pm, Dinner 7:30pm – 11:30pm (Closed on Sundays)

Image Spa & Leisure: +973 17 524 570 Sheraton Fitness: +973 17 524 570 Sheraton Health Club: +973 17 533 533

For Information

It is open in the evenings and offers a delightful Lebanese cuisine. Guests will enjoy large varieties of Mezzah as well as delicious charcoal grilled specialties.

Opening Hours: Monday to Friday: 7:00pm to 1:30am (Closed on Saturdays and Sundays)

Spa & Salon

Thalassotherapy

(Call for Appointment)

nightlife

Amber Bar

Opening Hours: Daily: 6pm to 2am

Lagoon Pool Bar

nightlife

Opening Hours: Daily: 8am to 8pm

An Nada Lounge

Lobby Lounge Bar

Opening Hours: Daily: 7:00am – 10:00pm

Opening Hours: Happy Hour: 1:00pm to 7:00pm Daily 1:00pm – 1:00am

Opening Hours: Daily: 8am to Midnight

For Information & Reservations

For Information

Opening Hours: Daily: 11:30am to Midnight

Espressamente Illy

A perfect place to meet and enjoy a cup of espresso, refreshing beverages and light snacks.

Al Safir: +973 17533533 ext 259 Soie Chinese Restaurant: +973 17 533 533 ext. 497 Golestan Restaurant: +973 17 533 533 ext. 375 Espressamente Illy: +973 17 533 533 ext. 1790

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An Nada Lounge: +973 17 533 533 ext. 293

Tapas BAR For Information & Reservations

Hotel: +973 1763 6363 - Concierge: +973 39349659

the K hotel  Dining Klouds

Enjoy an assortment of culinary delights with their special Themed Nights everyday of the week.

Opening Hours: Daily: 7pm to 11pm

Friday Brunch

Discover The K difference in Friday Brunch!

IS YOUR HOTEL LISTED ON THIS PAGE?

Opening Hours: Friday, 12:30pm to 4:30pm

The K lounge

Some new dishes include the world famous Angus steaks and exceptional desserts with that extra K flavor.

Our ongoing promotions include: Daily Happy Hour from 5pm to 7pm, Coors Light & Burger Treats, Ladies Night from Saturday to Wednesday all cocktails free of charge for Ladies.

Opening Hours: Daily: 11am to 2am

Kenza Lounge

Outdoor seating and Arabesque interiors, experience the finest Lebanese dining.

Opening Hours: Tuesday to Sunday: 7pm to 2am

Be included in Business In Gulf’s hotel guide and benefit from the exposure the magazine offers.

nightlife The K lounge

Opening Hours: Daily: 11am to 2am

Champions Sports Lounge Opening Hours: Daily: 11am to 2am For Information & Reservations

K Hotel: (973) 1736 0000 Klouds: (973) 1736 0000 ext. 4019 K Pool: (973) 1736 0000 or email banquet@thekhotel.com

the ritZ-Carlton, Bahrain hotel & Spa  Dining

Overlook Café

The perfect place to relax by the water and enjoy a variety of light lunch items, refreshments, beverages and cocktails with a tropical flair.

Opening Hours: Daily: 10am to 6pm

La Med

Casual dining in generous surroundings is brightened with natural sunshine and views of the turquoise blue waters of the Gulf.

Opening Hours: Continental and Arabic Breakfast: 7am to 10:30am, Lunch Buffet: Noon to 3:30pm, Lunch Express: Noon to 3:30pm, All Day Dining Menu: 3:30pm, Dinner: 7pm to 11:30pm, Friday Brunch: 12:30pm to 4pm

Plums

The specialty being premium beef and fresh, top quality seafood, it provides guests with the ultimate in dining pleasure.

Burlington Club

big@maxmediaco.com Tel: +973 17 402482 Fax: +973 17 402483

Mohd Sharif Hatam & Sons

The Ritz-Carlton has a dedicated cigar lounge with a cellar of premium malts, cognacs and vintage wines.

Opening hours: Saturday to Thursday 10am to 2pm – 4pm to 8pm

Opening Hours: Daily: Noon to 2am

For Information

The Lobby Lounge

The traditional high tea is served daily in the Lobby Lounge and boasts all the luxurious delicacies that you would expect.

Opening Hours: Daily: 8am to Midnight

The Ritz Gourmet Lounge

Chopard Boutique: +973 17 580 667 Mohd Sharif Hatam & Sons: +973 17 580 889

Spa & Salon

Elie & Jean Beauty Center Gents Saloon

Experience authentic chic ambience like in a Parisian along with homemade pastries and richly decorated desserts.

Opening hours: Saturday to Thursday: 9:30am to 8pm, Friday: 10am to 7pm

Opening Hours: Daily: 7am to Midnight

Sports Club & Spa (Membership only)

For Information & Reservations Hotel: +973 1758 0000

Opening hours: Daily: 5:00am to 10:30pm

Shopping

For Information

Chopard Boutique

Elie & Jean Beauty Center - Gents Saloon: +973 17 580 798

Opening hours: Daily: 7am to Midnight

Opening Hours: Dinner: 7pm to 11:30pm

Primavera

Primavera, the ever popular Italian restaurant offers a very exciting menu.

Opening Hours: Lunch: Noon to 3pm Dinner: 7PM to Midnight

Nirvana

Nirvana brings royal flavors to The Ritz-Carlton for a dining adventure rarely enjoyed outside of India.

Opening Hours: Lunch Noon to 3pm Dinner 7pm to 11:30pm

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Gulf hotel  Dining Al Waha

Dinners are spoilt for choice with an extensive array of buffet fare featuring local and international dishes, as well as an impressive variety of Bahraini hummus.

Opening Hours: Breakfast 6:00am – 10:30am Lunch 12:00pm – 3:30pm, Dinner 7:00pm – 11:00pm Friday Brunch: 12:30pm - 4:00pm

China Garden

The restaurant, which is designed in a modern oriental style, offers a varied selection of food influenced by distinct Chinese regions creating Cantonese, Szechuan and Peking specialties.

Opening Hours: Monday to Saturday Lunch 12:00pm to 3:00pm, Dinner 7:00pm to 11:00pm (Closed on Sunday)

Sato

It is favored by Japanese Embassy staff who are said to love its peaceful Zen-like surroundings and exquisite features, including teppanyaki rooms and an authentic robatayaki grill and a Sushi bar with a smoking section.

Opening Hours: Lunch 12:00pm – 3:00pm Dinner 7:00pm – 11:00pm

Takht Jamsheed

Taking inspiration from Persia’s royal palace of Takht Jamsheed, the Gulf Hotel’s chic restaurant offers a fine dining experience fit for a king.

Opening Hours: Tuesday to Sunday Lunch 12:00pm – 3:00pm, Dinner 7:00pm – 11:00pm (Closed on Mondays)

Zahle

The menu boasts an extensive selection of hot and cold mezze, grilled meat and regional Lebanese fare, such as beautifully presented shish kebab served in a golden box atop warm Arabic bread and burning coals.

Fusions

Opening Hours: Monday to Friday, Weekdays: 7:00pm – 1:00am, Weekends: 7:00pm – 2:00am Saturday Lunch 12:00pm -3:00pm Dinner 7:00pm – 2:00am

Opening Hours: Sunday to Friday 6pm – 12am (Closed on Saturday)

For Reservations

Fusions is a contemporary and stylish rooftop restaurant boasting unrivalled views over the hotel’s tropical gardens and Manama skyline.

La Pergola

Renowned for being one of Bahrain’s oldest Italian eateries, the intimate restaurant offers a fantastic Mediterranean ambience with a vaulted roof and striking wall murals depicting scenes of ancient Rome.

Opening Hours: Lunch 12:00pm – 3:00pm Dinner 7:00pm – 11:00pm

Margarita Mexicana

All dishes, including tortillas and guacamole, are freshly prepared at guests’ tables to guarantee that the menu and fine dining experience are as authentic as possible.

Opening Hours: Sunday to Friday 6:00pm – 12:00am (Closed on Saturdays)

Royal Thai

The restaurant is situated in a grand pagoda in the grounds of the hotel’s tropical gardens and provides scenic views overlooking the turquoise waters of the outdoor swimming pool.

Opening Hours: Tuesday to Sunday Lunch 12:00pm – 3:00pm, Dinner 7:00pm – 11:00pm (Closed on Mondays)

Al Waha: +973 1774 6425/26 China Garden: +973 1774 6423/24 - Fusions: +973 1771 3000 La Pergola: +973 1774 6419/20 Margarita Mexicana: +973 1774 6462 Royal Thai: +973 1774 6421/22 - Sato: +973 1774 6429/30 Takht Jamsheed: +973 1774 6431/32 Zahle: +973 1774 6417/18

nightlife

Sherlock Holmes Opening Hours: Daily: 12:00pm – 2:00am

Typhoon Bar and Lounge Opening Hours: Daily: 5:00pm – 1:00am Happy Hour: 5:00pm – 7:00pm

Vintage Wine Bar Opening Hours: Daily: 5:00pm – 1:00am For Reservations

Sherlock Holmes: +973 1771 2450 Typhoon Bar and Lounge: +973 17 746 395 Vintage Wine Bar: +973 1774 6461

the DoMain Bahrain hotel  Dining

Txoko

A playful and vibrant venue crowning the top floor of The Domain Hotel and Spa. Opening hours: Daily 4:00pm – 2:00am

Imari

Cosmopolitan Japanese restaurant and lounge Opening hours: Monday to Saturday 6:00pm – 12:00 am Sunday Closed

Le Sauvage

French Steakhouse , open grill kitchen Opening hours: Tuesday to Sunday 6:00pm – 12:00 am Monday Closed

Le Domain

Fresh, light and passionate cuisine from the south of France.

Opening hours: Tuesday to Sunday 6:00pm – 12:00 am Monday Closed

Figs & Olives

A casual duet eatery of both classic Italian and Lebanese comfort foods.

Opening hours: Daily 6:30 am – 10:00 pm

The Cigar Lounge

Refined and masculine social space with walk in humidor.

Opening hours: Daily 6:00 pm – 12:00 am For Information & Reservations Hotel: +973 16000 400, 16000 200, 16000 222, 16000 333.

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al Safir hotel  Dining

Yalla Yalla

In place of Savoy Café, Yalla Yalla offers lunch and dinner bufftets as well as an ala carte menu.

Opening Hours: Daily: 6:30am - Midnight

Bennigan’s

Enjoy tasty food and spirited conversation.

Opening Hours: Daily: 6am - 2am

Cucina Italiana

The place where Italian Food is served with style & passion.

Marriott eXeCutive apartMentS  Dining

SKYWALK CAFÉ

Find this contemporary yet cozy café, one of our favorite Bahrain restaurants, on the ground floor.

Enjoy international cuisine, and even keep connected with free Wireless Internet access available onsite.

Opening hours: daily, for breakfast, lunch and dinner For Reservations +973 17 363999

Opening Hours: Monday to Sunday 6:00am - 1:00am

Spa & Salon

Ann Beauty Salon

Come in and relax to soothing music as our therapists provide the perfect treatment.

For Information & Reservations Al Safir Hotel & Tower: +973 1782 7999 Email: alsafirh@batelco.com.bh Bennigan’s: +973 1781 3750 Website: bennigans.com.bh Cucina Italiana: +973 1700 1317 Website: cucinaitaliana.com.bh

raMee GranD hotel & Spa 

Opening hours: 10.00am – 11.00pm 7 days a week Health Club: 6.00am - 11.00pm Pool Bar: 10.00am – 6.00pm

Lemon Tree

For Information

Opening Hours: Breakfast: 6.30am – 10.30pm Lunch: 12.00 pm – 3.30pm, Dinner: 7.00pm – 11.30pm

Ibrida

Dining

Featuring a dynamic menu, the Lemon Tree is the place to enjoy our signature casual dining, delicious breakfasts, Friday family brunches, scrumptious dinners and those all-day quick nibbles.

For Reservations

Lemon Tree: +973 17111999

Ruka

novotel al Dana reSort  Dining

La Perle

Enjoy a delicious range of culinary specialties with an extensive selection of appetizers, salads and desserts to complement your choices Seafood and fishes.

Opening hours: Daily: 7:00pm - 12:00am

Zytoun

Mediterranean Grill buffet restaurant serving a variety of Mediterranean and international foods.

Opening hours: Daily: 6:30am - 11:00pm

nightlife

Le Bellevue

A relaxed yet elegant bar offering one of the most stunning views of the sea and city skyline. Light live music in the evenings.

Opening hours: Daily: 4:00pm - 2:00am

Pool Bar

Pool bar is open on weekends during DecemberFebruary and every day from March 1 until November.

(Closed during Ramadan).

Opening hours: Daily: 9:00am -8:00pm For Reservations

Hotel: +973 1729 8008

Ruka aims to present itself as the region’s most luxurious Japanese restaurant/lounge. With breathtaking views of the Bahrain from the 24th floor, the vast azure Arabic Gulf & the infinite cerulean skyline, Ruka’s connotation to its name certainly holds true to its very core.

Reborn: +973 17 111980

nightlife

Ramee Grand’s very own club and steak-house is the heart of Bahrain’s biggest nightlife entertainment and has steadily become the perfect venue for the after-work crowd to unwind or for weekend revelers to dance the night away, while sipping on specialty drinks prepared by our expert mixologist.

Opening Hours: Club: 8.00pm – 2.00am Restaurant: 7.00pm - 11.30pm For Information

Ibrida: +973 17 111972

Opening Hours: Daily: 12.30pm – 3.00pm and 6.00pm -11:30pm For Reservations

Ruka: +973 17111971

Rasoi

Rasoi takes you on a culinary journey with its extensive buffet display, open exhibition kitchen and live cooking areas. Soothing music from a live ghazal band while you dine creates the perfect atmosphere for our guests to relish the sophisticated blend of flavors, which celebrate the vibrancy, of Indian cuisine.

Opening Hours: Daily: 12.30p.m - 3.00p.m and 6.30p.m - 11.00p.m For Reservations

Rasoi: +973 17111973

Spa & Salon

Reborn

The Spa at the Ramee Grand Hotel & Spa is 5,000 square feet of pure serenity. Inspired by wellness techniques from around the globe, our spa features 13 treatment rooms with a unique selection of facials, massages & treatments designed specifically for women, men & couples.

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iBiS Seef ManaMa 

MerCure GranD hotel Seef 

SEEF RESTAURANT

NEYRAN RESTAURANT

Dining

Enjoy a wide range of succulent dishes from around the globe in a casual and tranquil setting. The a la carte menu is available throughout the day and our chef’s special is freshly prepared daily. Whether you’re looking to grab a quick bite or to have a more relaxed sumptuous meal, the restaurant is the perfect choice to satisfy those yearnings.

Opening Hours: 4 AM to 11 PM daily, 7 days a week Open for breakfast, lunch and dinner.

Breakfast timings: Intercontinental breakfast is from 4:30 AM – 6:30 AM Breakfast Buffet is from: 6:30 AM – 10:30 AM Intercontinental breakfast is from: 10:30 AM – 12 PM Lunch: 12 - 3:30 PM Dinner: 7 – 11 PM Come try out our special Combo offer for lunch & dinner! Revel in one of our culinary delights for your main course from the menu. Add BD 1 for a delicious salad and soft drink.

SEEF CAFÉ

The ideal place to meet with family and friends and enjoy a delightful array of cold and hot beverages, mocktails, light snacks, and sweets, while watching your favorite sports team play on our big screen TV. Opening Hours: 24 hours a day, 7 days a week For information & reservations:

+973 17386020 or e-mail H6303-RE@accor.com

Dining

Specializing in flavors from Europe with hints of Asian, Middle Eastern and Mediterranean cuisines, Neyran’s menu presents a reflection of striking aromas and essences. Guests can start or end their day with a meal from our extensive deluxe buffet for breakfast, lunch or dinner whilst our a la carte menu provides limitless choices anytime of the day in general surroundings brightened with natural sunshine.

Opening hours: 06:30 - 23:00, every day

CASA BAR & TERRACE

Shades of Oak and yellow surroundings, brightened with natural sunshine, Casa Bar provides that chic and stylish setting with stylish décor and the comfiest furnishings all in a Moroccan style. Casa Bar’s cigar collection epitomizes graciousness with a menu that has been created to complement the tastes of aficionados who will find the humidor stocked with some of the finest premium cigars. Don’t miss out on Casa Terrace, on the mezzanine level, where you can enjoy the finest open-air hospitality with a beautiful view of Manama and the Seef skyline. Unwind with live entertainment, a wide variety of shishas, light meals and sandwiches...with your favorite drink!

Opening hours: 14:00 - 02:00, every day.

SAMA POOL & BAR

Marvel at the panoramic city and the sea views, the endless skyline framed against the beautiful sunsets from Bahrain’s highest roof top at Sama Pool Bar. This urban oasis is an unmatched visual feast and the perfect place to enjoy an evening of barbecued grill or gather with a group of friends over light snacks and beverages. The ‘sky’ high experience is completed as you dive into the clear blue water of the pool, with the open-air pool deck a refreshing relief from the city’s buzz throughout the day. The Sama Pool Bar is also a coveted venue for pool parties, family barbecues, farewell gatherings, weekend treats, corporate events, anniversaries or for that special event to celebrate with your friends and family.

Opening hours: 10:30 - 19:00, every day.

the DraGon hotel anD reSort  Dining

MUJU RESTAURANT AND LOUNGE

MUJU’s contemporary style and timeless sophistication blends with a warm and inviting ambiance that combine to make the ideal venue for lunch, dinner or cocktails.

MUJU’s exquisite international menu has a wide variety of delicacies for even the most discerning of palates.

Whether for lunch or dinner, its timeless classics and seasonal specials are a treat to the taste buds. With its warm ambiance, breath-taking sea views and culinary masterpieces, MUJU restaurant and lounge is an indulgence to your senses. Laze away an afternoon or watch the sunset, sipping cocktails while enjoying an appetizing selection of treats from the lounge menu.

Opening hours: Everyday 12pm till 5am

YAMIN JANA MEDITERRANEAN SEAFRONT

RESTAURANT Treat yourself to a refreshingly different dining experience at Yamin Jana, a Mediterranean-Style seafront lounge with an Arabic twist. Allow yourself to be transported all over the Mediterranean when sampling tapas in true Spanish style, as well as authentic Lebanese mezze. The beverage selection is as vast as the Mediterranean, with great beverages and an amazing variety of different shisha flavors. Yamin Jana seats 140 guests on a beautiful al fresco wooden deck. Watch the evening come alive when the whole of Amwaj and all its lights breathe life into the lagoon in front of the Dragon Hotel & Resort.

Opening hours: 11am to 2 am every day.

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For Reservations

+973 17 58 44 00 H5685@accor.com/H5685-RE@accor.com

CORNERS

Corners is the first pub to open in Amwaj Islands. A place to socialize and unwind whilst enjoying the latest in live sports, bands and DJs including resident DJ. With a diverse selection of food, including traditional pub grub as well as International classics to treat the taste buds, Corners is your ultimate Gastropub.

Opening hours: 2pm to 2am For Reservations

+973 1603 1111/ +973 1603 3833 fo@dragonresorthotel.com

SWiSS-Belhotel  Dining

SWISS-CAFÉ RESTAURANT

al areen palaCe & Spa  Dining

RIMAL RESTAURANT

Rimal offers all-day dining in a light and airy setting that provides a spectacular view of the resort. Catering to Middle Eastern and global tastes, guests can indulge in a sumptuous breakfast buffet or select from an extensive a la carte menu.

Opening hours: daily Breakfast served daily: 6:30am - 10:30 am Last Order: 11:00 pm

SAFFRON RESTAURANT

Resplendent in majestic shades of gold and maroon, with a beautiful high ceiling, traditional Middle Eastern accents and a spectacular view of the resort’s grand outdoor pool, this signature dining venue introduces a new menu inspired by modern Bahraini dishes, combining elements of enticing European and Khaleeji fusion.

Opening hours: daily For lunch: 11:30 am-3:00 pm For dinner: 6:30 pm - 11:00 pm

KEIZO RESTAURANT

Keizo offers guests surprising signature dishes from traditional Far East cuisines contemporarily prepared and elegantly presented. Highly experienced chef and multi-talented sushi chef all make up this exceptional dining venue.

Opening hours: Thursday, Friday and Saturday For lunch: 11:30 am-3:00 pm Open daily for dinner: 6:30 pm - 11:00 pm Closed on Sunday

An all-day dining restaurant located on the 10th floor, with a panoramic terrace overlooking the city. The a la carte menus, as well as a wide variety of buffets, are available throughout the day. The restaurant is now offering a special Fondue from 7 - 11 PM daily, until March 31st.

Opening hours: 6:30 AM - 11:30 PM, everyday Business Lunch buffet: 12:30 PM - 3:00 PM, Saturday to Thursday (7 BD net per person including soft drinks and mineral water) International Dinnerbuffet: 7:00 PM - 11:00 PM, Saturday to Thursday (8 BD net per person including soft drinks) Arabic Dinnerbuffet: 7.00 PM - 11.00 PM, Thursday and Friday (8 BD net per per person including soft drinks) Friday Seafood Lunch: 12.30 PM - 3.00 PM (Net BD 12 per person including soft drinks)

CAFECCINO

Lobby Café serving a variety of salads, sandwiches, pastries, hot and cold beverages in a casual ambience.

Opening hours: 24 hours, everyday

B28 bar & lounge

This trendy bar is located on the 28th floor with panoramic view. 30% off on selected beverages between 4:00 PM-8:00 PM on all days except Sunday.

Enjoy live music with Olga: Sunday to Wednesday from 7:30 PM, Thursday and Friday from 8:30 PM onwards.

Opening hours: 4:00 PM - 2:00 AM, Saturday to Thursday & 1:00 PM - 2:00 AM, Friday

Floor 27

The incomparable hall, overlooking the Seef area is the place to host any type of events.

Opening hours: 24 hours, everyday For Information and Reservations

+973 66310041 reservationsbse@swiss-belhotel.com

SENSES LOUNGE

Indulge in delicious pastries, freshly baked cakes and our special selection of tea and coffee. Senses Lounge is the perfect place to relax and re-charge your senses.

Opening hours: From 9:00 am - 10:00 pm

Silk’s restaurant

Asian Fusion cuisine Open from 6.00am to 10.30am for breakfast, from 12.30pm to 4.00pm for lunch, and from 7.00pm to 11.00pm for dinner.

Thursdays from 7.00pm to 11.00pm (Thursday Night Out)at BD27 net Mondays from 7.00pm to 11.00pm (Monday Seafood Night) at BD 27 net Friday from 12.30pm to 4.00pm (Award-Winning Friday Brunch) at BD31 net

The Gallery

French brasserie Open from 7.00am to midnight.

Rimal Spa Open daily from 10.00am to 10.00pm 12 luxurious treatment rooms

SPICES

Spices Indian Restaurant ensures the best Indian food available, as well as the highest quality possible service. Spices has many exciting signature dishes that are perfect for all and set us apart from the others.

Opening hours: 12.00 to 23.00

LA MOSAIQUE

The spacious, elegant and classic La Mosaique Restaurant is open 24 hours a day, serving a choice of international buffets and a la carte menus. This restaurant is suitable for all, from family meals out, to meetings, with our facilities being able to cater for all. La Mosaique really does have something too suit all tastes, along with great atmosphere and fantastic service!

A must for seafood lovers, who can choose from our extensive a la carte menu or our market place selection of fresh fish which is delivered daily from local Bahraini fisherman.

Opening hours: daily for lunch and dinner

+973 17 84 50 00/+973 17 84 50 01 alareen@alareenpalace.com

Dining

Dining

WAVES SEAFOOD RESTAURANT

For Reservations

MövenpiCK hotel Bahrain 

CroWne plaZa Bahrain 

The Gym & Wellness Open daily from 6.00am to 10.00pm Tennis Court Infinity pool Cybex equipment

Flamingo Bar & Lounge

THE HARVESTERS PUB AND TERRACE

Serves the best pub grub in town and is the perfect place to meet up after work with friends or colleagues. There is live entertainment from our band every night, and you can also catch the latest sporting action of one of the many screens.

Weekdays open from 2.00pm to 2.00am Weekends open from 12.00pm to 2.00am Daily happy hour from 2.00pm to 9.00pm Live band performance daily except Saturdays from 8.45pm 12.30am

CAPPUCCINO CAFÉ

For Reservations

TRACKS SPORTS BAR

Silk’s Restaurant: +973 17460017

Coffee shop is located in the lobby area, and serves freshly brewed tea, coffee and pastries throughout the day. Hold your meeting here with colleagues, or simply sit and enjoy the surroundings.

A great place to socialize with friends and colleagues and watch all the world’s best sporting events everyday on big screen. Come and enjoy Tracks’ relaxed and friendly atmosphere, play pool or darts, listen to great music while having a drink and a fabulous snack from our menu.

Opening hours: daily from 3pm to 1am For Reservations

+973 17531122 cp@cp-bahrain.com

april 2016

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BUSINESS Market Place Gulf

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april 2016

BUSINESS Market Place Gulf

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Quoted “In the current macro-economic context, it is crucial to discuss the development of the capital markets in the GCC as a viable alternative to bankbased financing.”

Alissa Amico, Manging Director of Govern

“Looking ahead, Bahrain will continue to develop its strong regional offering, including key sub-sectors that we have identified as strategic priorities, such as Islamic finance, ancillary services and asset management.”

“Sustained low oil prices are of course a concern for us. However, Bahrain’s highly developed regulatory environment, the increasingly diverse makeup of our economy and the fiscal measures taken by the Government recently will help us to address the challenges in the current climate.”

His Excellency Rasheed Mohammed Al Maraj, Governor of Central Bank of Bahrain

Khalid Al Rumaihi, Chief Executive of the EDB

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february april 20162012

“Bahrain International Airport has witnessed an increase in the number of visitors who visited during Shop Bahrain’s unique 30-day celebration.

The recorded passenger movement rose to 14.30% in comparison to same time last year.”

“Even as surrounding states in the Middle East witness turbulent economic conditions, Iran is mobilizing its efforts targeted at economic proliferation and this is opening up immense growth opportunities for local and foreign companies alike.”

Mohammed Khalil, CCO at Bahrain Airport Company

Y.S. Shashidhar, Managing Director, MENA and South Asia, Frost & Sullivan.

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