Portfolio | February 2011 by Motivate Media Group

Portfolio

Issue 62 ■ February 2011

Exclusive to Emirates First Class and Business Class

COMEBACK

The Rise of Bartering

SPEED READERS

Wall Street’s New Edge

THE GATES EFFECT Changing World Health?

Laurence Graff King of Diamonds

emirates.com

This issue February 2011

Portfolio

Exclusive to Emirates First Class and Business Class

Cover Story The King of Diamonds EZnk^g\^ @kZ__ bl ma^ [beebhgZbk^ ]bZfhg] ]^Ze^k pah aZl ZepZrl ]k^Zfm [b`' Abl gZf^ bl ebgd^] mh ma^ phke]Íl eZk`^lm Zg] fhlm _eZpe^ll ]bZfhg]l Zg] a^ aZl Z eblm h_ \eb^gml maZm k^Z]l ebd^ Z pahÍl pah' ;nm @kZ__ Zelh [^eb^o^l bg `bobg` [Z\d% Zl abl \aZkbmr phkd bg :_kb\Z ikho^l'

Features 28 Building for Success

46 Crossing the Great Divide

Major Indian companies like Tata Consultancy Services,

The Atlantic, one of America’s most respected magazines,

Infosys and Wipro have embarked on ambitious building

had been haemorrhaging money for years. A bold step into

projects. The aim is to attract and retain employees, dazzle

the web and merging digital and print sales has turned the

potential clients and show off India’s modern face.

publication around.

32 News Crunchers

50 New Age of Modelling

Powerful computers loaded with custom software are

Websites that sell clothing online use models differently

now speed reading news reports, websites and company

to the glamour magazines. Poses are less contrived and

statements and interpreting what it means. For tech-loving

‘approachability’ is the key factor.

traders this is a huge step forward, but it also has its critics.

34 Barter Makes a Comeback

54 Urban Mining Japanese firms need lots of rare earths and other minerals

Bartering, an age-old mode of commerce, is making

to keep production going. Now the mineral-poor country is

a comeback thanks to consumer belt tightening and

looking at an unlikely new source: recycling old electronics.

environmental concerns.

38 Ready for Riches? When Exxon Mobil starts exporting natural gas from Papua New Guinea in 2014 it will bring a flood of revenue to the island. But many are worried this money may turn into a problem rather than a blessing.

42 Overnight Day Trading China, the outsourcing powerhouse, has a new niche in stock trading with the world’s most powerful investment houses.

COVER PHOTO: GRAFF DIAMONDS LTD

Portfolio

Exclusive to Emirates First Class and Business Class

Essentials 59 Reviving Babylon’s Ruins Iraq is full of important archaeological sites and the jewel in the crown is Babylon. Efforts are now underway to save Babylon from a host of threats.

64 Venezuela’s ‘70s Rides Although the relationship between Venezuela and the US has been through some turbulent times, the Venezuelan love affair with classic American gas-guzzlers remains unaffected.

59 72

68 A Difficult Journey The Bill & Melinda Gates Foundation gave $450 million in five-year grants to 43 exciting proposals to tackle world health problems.

72 The Spirit of Ecstasy Lives On Rolls-Royce CEO Torsten Müller-Ötvös is bullish, and he has every right to be. In 2010 the company sold twice as many cars as in 2009.

74 How to Build a City Astana, the capital city of Kazakhstan, is developing at a rapid rate thanks to a huge inflow of money.

78 A Kitchen for Rent A number of unemployed New Yorkers have turned entrepreneurs by catering for the city’s healthy appetite.

82 Herbal Healing

Departments

The use of medical plants and herbs to treat illnesses has a

9 Notebook

long tradition in almost every country.

World business in a nutshell.

15 Observer

86 Compact Luxury The Land Rover Freelander virtually created the compact,

Spotting and analysing business trends.

20 Column: Matt Richtel Communication Shift

luxury SUV market with its launch in 1997. Competition has heated up since then, but the LR2 is holding its own.

88 Other Business Portfolio takes a light-hearted look at the latest business news.

Published for Emirates by

PO Box 2331, Dubai, UAE. Telephone: (+971 4) 2824060, fax:(+971 4) 2824436, e-mail: emirates@motivate.ae

Editor-in-Chief Obaid Humaid Al Tayer Group Editor & Managing Partner Ian Fairservice Group Senior Editor Gina Johnson Senior Editor Guido Duken Deputy Editor Nick Rice Editorial Assistant Hilda D’Souza Art Director Tarak Parekh General Manager Production & Circulation S Sasidharan Production Manager C Sudhakar Senior Advertisement Manager Jaya Balakrishnan Email: jaya@motivate.ae General Manager – Group Sales Anthony Milne Email: anthony@motivate.ae Business Development Manager Nicola Hudson Advertisement Manager Rameshwar Nepali INTERNATIONAL MEDIA REPRESENTATIVES AUSTRALIA Okeeffe Media; Tel +61 89 381 7425, Fax +61 89 382 4850, okeeffekev@bigpond.com.au CHINA/HONG KONG Emphasis Media Limited; Tel +85 22 516 1048, Fax +85 22 561 3349, advertising@emphasis.net CYPRUS Epistle Communications & Media; Tel +35 72 246 6555, Fax +35 72 276 9999, nasreenk@epistlemedia.com FRANCE/SWITZERLAND Intermedia Europe Ltd; Tel +33 15 534 9550, Fax +33 15 534 9549, administration@intermedia.europe.com GERMANY IMV Internationale Medien Vermarktung GmbH, Phone: 0049 8151 550 8959, Fax: 0049 8151 550 9180 w.jaeger@imv-media.com INDIA Media Star; Tel +91 22 281 5538/39/40, Fax +91 22 283 9619, ravi@mediastar.co.in ITALY IMM Italia; Tel +39 023 653 4433, Fax +39 029 998 1376, lucia.colucci@fastwebnet.it JAPAN Skynet Media Inc.; Tel/Fax +81 43 278 6977, skynetmedia@y2.dion.ne.jp TURKEY Media Ltd; Tel +90 212 275 8433, Fax +90 212 275 9228, mediamarketingtr@medialtd.com.tr; UK Spafax Inflight Media; Tel +44 207 906 2001, Fax +44 207 906 2022, nhopkins@spafax.com USA Redwood Custom Communications Inc.; Tel 212-473-5679 x 313 , Fax 212-260-3509, brigitte.baron@redwoodcc.com

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Printed by Emirates Printing Press, Dubai, UAE

Portfolio

Notebook

BUSINESS NEWS IN BRIEF

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In Riyadh 550 kilometres of optical cable will be installed within six months.

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February 2011

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Notebook Seven New Solar Plants

Numbers Game

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$360

million industryfinanced plan has been unveiled in Britain to promote good eating. Aimed to combat the nation’s high obesity rate, millions in England will receive £50 worth of vouchers offering discounts on healthy food.

$907

billion in Chinese debt needs to be paid up by the United States. President Barack Obama wants Beijing to let its yuan currency rise and also help cut US unemployment by improving exports to China.

billion visits to 43 filesharing websites per year were registered by the brand protection company MarkMonitor, which studied the illegal traffic levels. The study was initiated by the US Chamber of Commerce to identify trends and rogue sites.

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7,783,000

international visitors spent cash in the shoppers paradise that is Dubai, placing it amongst the world’s top 10 city tourism destinations. According to a report from Euromonitor International, Dubai is the only Middle Eastern city to make it onto the top 10 list.

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In Figures

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million units of Microsoft Corp’s Xbox Kinect motion-sensing game system got snapped up in the first 60 days of its launch, outshining rival Sony Corp’s Move. The Xbox Kinect console has lured newcomers with exciting features to create a truly immersive entertainment experience.

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2nd

time in a row to claim the World Player of the Year, 23-year-old Argentinean football star Lionel Messi has beaten Barcelona teammates Andres Iniesta and Xavi to the inaugural FIFA Ballon d’Or. Messi scored no less than 60 goals for club and country in 2010.

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Portfolio

Notebook

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The sale of server microprocessors boosted Intel’s 2010 earnings.

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US Banks to Close Foreign Diplomatic Accounts Foreign diplomats of several countries have

JP Morgan Chase, which is in charge of

complained to the US government about

many diplomatic accounts, did not specify

the decision of several American banks

a reason for terminating the services.

to end services for diplomatic missions.

But reports suggest it may be because

The envoys have been actively searching

monitoring the accounts has become too

for new banks but with little success. The

expensive. The bank had sent letters in

concerns of nearly 150 diplomats were

September to its diplomatic clients saying

heard by federal officials during a closed-

it had “made the decision to close its

door briefing at the United Nations in

division that serves diplomatic and foreign government entities” and that its decision

New York City. Some diplomats warned that the UN budget could be affected

Kennedy told reporters after the briefing

was not a reflection on how the envoys

by the account closures. In November

that the missions had been advised on

used their accounts. Diplomats are very

2010, The Wall Street Journal suggested

‘alternative approaches’ they could take

concerned about the implications of this

that the banks’ decisions were prompted

to obtain banking services. He stressed

decision. If they fail to find an alternative

by difficulties in adhering to federal

that the banks’ decisions were based on

choice by the end-of-March deadline, they

money-laundering regulations involving

commercial reasons and “not because the

will have trouble paying their employees’

international transfers. Regulations have

bank is saying that the embassy of Xanadu

salaries and bills. The closures at JP

been tightened since 9/11 in an effort to

or the mission of Shangri-La is engaged

Morgan are scheduled to come into

stop the flow of illegal foreign funds for

in some nefarious activity”. The US would

effect on 31 March 2011 and will affect

crimes that could include financing terrorist

continue its work with both diplomats and

mission accounts but not those of

acts. State department official Patrick

the banking industry, he added.

individual diplomats.

February 2011

Resumés Rewritten

TEXT: HEBA HASHEM

Alec Baldwin Alexander Baldwin is hard to miss

Along with multiple appearances hosting

Baldwin also made it clear on more

nowadays; he’s one of mainstays in the

NBC’s Saturday Night Live, voice-only

than one occasion that he thinks

hit comedy series 30 Rock.

contributions to animated shows, and

that there needs to be a change in

even voice-over work in television ads,

the politicians running the American

Beetlejuice, Hunt for Red October,

the versatile celebrity of Irish and French

government. “I do believe that people

It’s Complicated, and The Cooler,

descent has no trouble impersonating

want to believe that someone who

the New York-born actor has played

any character.

deeply cares about the middle class,

Starring in memorable movies like

everything from heart throb to military

Off the set, however, Baldwin is an active

for whatever reason… would like to

man. The Cooler got him an Oscar

political fan. In fact, he originally wanted to

seek public office,” Baldwin was heard

nomination and helped land him roles

be a lawyer, and ran for president at George

saying on Eliot Splitzer’s CNN segment.

in The Aviator and The Departed,

Washington University but lost by two

both directed by Martin Scorsese.

votes. Liberal politics seems to run in his

qualified than California governor

blood; not only does he have an impressive

Arnold Schwarzenegger, saying:

Baldwin never had that strong desire

grasp of issues, but he also spends a huge

“His only credentials are that he ran

to be an actor. “Well you have to want

amount of his time and money supporting

a fitness programme under some

it more than anything else. And I didn’t

causes he believes in.

bygone president.”

Ironically, and unlike most movie stars,

want it more than anything else,” he said. But others continue to see through

The opinionated Baldwin is definitely

He once even stated that he is more

At 52, he says he still hasn’t given

outspoken, which makes him a constant

up his childhood dream of being

Baldwin’s talents. Actress and writer

target for tabloids. He has been both

a politician. “There’s no age limit

Tina Fey chose Baldwin while casting

criticised and acclaimed for his outspoken

on running for office, to a degree.

30 Rock; a decision that transformed

support of the Democratic Party, and in an

Something I might do, one day,”

the show. “The first season, especially,

interview with CNN last year, revealed his

Baldwin says. With an estimated

he made us all look better, and while we

interest in running for public office. “The

net worth of $65 million, he

were learning from him, he was carrying

desire is there, that’s one component. The

already has the war chest to fund

us,” Fey said of Baldwin.

other component is opportunity,” he said.

an election campaign. ■

Portfolio

Observer

BUSINESS NEWS IN BRIEF

Giving Old Gadgets a Green Burial There's a sensible way of ridding yourself of electronic clutter, reports Mickey Meece.

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February 2011

Observer [^^g k^\r\ebg` fhlm \hglnf^k ^e^\mkhgb\l

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Observer The World

Top 10 MOST EXPENSIVE CELEBRITY REAL ESTATE FOR SALE Celebrity 1. Candy Spelling

Location

Price

California

$150 million

Listed with Coldwell Banker Previews International Hom Real Estate Group Coldwell Banker Previews International Sotheby’s International Realty Sotheby’s International Realty Bates Sanders Swan Land Co. Engel & Volkers

2. Nicholas Cage California 3. Michael Jackson California

$31.75 million $23.5 million

4. Adrian Beltre

California

$19.8 million

5. Ricky Martin

Florida

$18.9 million

6. Val Kilmer

New Mexico $18.5 million

7. Anjelica Huston, Robert Graham 8. Dr. Phil McGraw 9. Harrison Ford 10 Uma Thurman

California

$18 million

California New York New York

$16.5 million Hilton & Hyland Realty $16 million Corcoran Group Real Estate $14.2 million Sotheby’s International Realty

Zipcode

Location

91008 94027 90274 07620 10014 90210 10065 94920 10012 93108

Duarte, California Atherton, California Rolling Hills, California Alpine, New Jersey New York, NY Beverly Hills, California New York, NY Belvedere, California New York, NY Santa Barbara, California

$4,276,462 $4,010,200 $3,892,456 $3,814,885 $3,785,445 $3,684,150 $3,626,001 $3,283,269 $3,221,371 $3,151,220

Name

Location

The Manor Fleur de Lys Tranquility Estate Kaiser Estate Humming Bird Nest Ranch Julius Forstmann House Porcupine Creek 1016 Madison Avenue Three Ponds Farm Robert Taylor Ranch

California California Nevada Hawaii California New York California New York New York California

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AMERICA’S MOST EXPENSIVE HOMES

February 2011

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SOURCE: FORBES.COM

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AMERICA’S MOST EXPENSIVE ZIP CODES

1. 2. 3. 4. 5. 6. 7. 8. 9. 10

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SOURCE: TRULIA; REALTOR.COM

1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

Food Prices Stoke Inflation

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AMD Looking for Visionary CEO

Shanghai Property Tax?

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Chevrolet Sonic

Portfolio

Observer TEXT: HILDA D’SOUZA

O N E 2 W AT C H

John Orwin

Affymax Inc shares rose 16 per cent on news that it has

joining Affymax in April 2010, Orwin served as vice president

appointed its president, John Orwin, as chief executive officer,

and then senior vice president of BioOncology Business Unit

effective February 1. Orwin succeeds Arlene Morris, who will

at Genentech. Orwin also successfully served in executive

remain as a consultant to the company until September 2011.

positions at Johnson & Johnson, Alza Pharmaceuticals and

The US based drug maker is expected to file for US regulatory

Sangstat Medical Corporation.

approval for its experimental anemia drug, Hematide, in the

Orwin’s proven track record of success and excellence

second quarter of 2011. Orwin’s immediate challenge will be to

made it easy for the board and stakeholders to place their

successfully get this drug cleared for sale in the US. Doing so will

confidence in his abilities and Orwin is positive about his

secure a position to compete with Amgen’s multi-billion franchise

future there, saying, “We believe we are well positioned

drug, Epoetin Alfa

to commercialise our product upon potential approval

The 45-year-old pharmaceutical company veteran has more than a decade of experience in the world of medicine. Prior to

for the treatment of anemia in dialysis patients, and look forward to our transition to a commercial organisation.”

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February 2011

Commentary

MATT RICHTEL

Communication Shift LB@GL MA:M RHNÍK> HE=3 RHN

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Vision in Private Banking.

For us, private banking means supporting different visions. Also yours: +971 4 428 82 00 or www.claridenleu.com Clariden Leu Asset Management (Dubai) Ltd., Dubai

S W I S S P R I V AT E B A N K I N G S I N C E 17 5 5

This information has been distributed by Clariden Leu Asset Management (Dubai) Limited. Related financial products or services are only available to professional clients which qualify as clients under the Dubai Financial Services Authority rules. Clariden Leu Asset Management (Dubai) Limited is duly licensed and regulated by the Dubai Financial Services Authority (DFSA).

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Portfolio

PHOTOS: GRAFF DIAMONDS LTD

February 2011

LAURENCE GRAFF IS THE BILLIONAIRE DIAMOND DEALER WHO HAS ALWAYS DREAMT BIG. HIS NAME IS LINKED TO THE WORLD’S LARGEST AND MOST FLAWLESS DIAMONDS AND HE HAS A LIST OF CLIENTS THAT READS LIKE A WHO’S WHO. BUT GRAFF ALSO BELIEVES IN GIVING BACK, AS HIS CHARITY WORK IN AFRICA PROVES. Story by Ayesha Khan

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THE STORY OF LAURENCE GRAFF IS A GLITTERING FAIRY TALE BASED ON THE ENCHANTING BRILLIANCE OF A GEM. Bm bl mabl `^f maZm mhhd Z *-&r^Zk&he] [hr _khf Ehg]hgÍl >Zlm >g] mh Zee \hkg^kl h_ ma^ phke]' ÊPa^g B ehhd^] bgmh ma^ \^gmk^ h_ fr _bklm ]bZfhg]% B pZl f^lf^kbl^]%Ë k^\Zeel @kZ__ pbma Z mpbgde^ bg abl ^r^ maZm phne] kboZe Zgr hg^ h_ abl ]bZfhg]l' ÊMa^ ]îma Zg] frlm^kr h_ _eZpe^ll ]bZfhg]l Zk^ \hfie^mêr \ZimboZmbg`% Zg] ma^r aZo^ [^^g fr iZllbhg ô^k lbg\^' B pZl [hkg mh [^ Zfhg`lm ]bZfhg]l'Ë Abl lmZkm bg ma^ c^pêe^kr [nlbg^ll pZl ghm o^kr èZfhkhnl' Ê:ee B k^Zeer e^Zkg^] bg mahl^ _bklm mak^^ fhgmal pZl l\kn[[bg` _ehhkl% \e^Zgbg` mhbe^ml Zg] knggbg` mak^^ fhgmal ma^r ]b]gÍm mabgd BÍ] fZd^ ma^ `kZ]^% lh ma^r o^kr ihebmêr Zld^] f^ mh e^Zo^%Ë a^ k^\Zeel' ;nm Zl pbma lh fZgr ]^m^kfbg^] mr\hhgl% @kZ__ fZ]^ mabl ]blZiihbgmf^gm _nê abl Zf[bmbhg' A^ lhhg

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Laurence Graff with his wife Anne-Marie and son Francois at one of Graff’s many charity events. He counts his FACET foundation among his finest achievements.

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Ehg]hg a^Z]jnZkm^kl' A^ Zelh ngo^be^] Portfolio

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“I ALWAYS BELIEVE THAT WHEN YOU HAVE THE CHANCE TO ACQUIRE SOMETHING UNIQUE IT’S YOUR LUCKY DAY, BECAUSE ONCE IT’S GONE THE OPPORTUNITY IS GONE AS WELL. I DO NOT BELIEVE IN REGRET.”

Graff with some of the children that have benefitted from the work done by FACET (For Africa’s Children Every Time), his non-profit organisation that works in Africa.

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“WHATEVER I DO IN LIFE, I WANT TO DO IT THE BEST, WITH TOP PEOPLE, SO I HIRED A GREAT TEAM INCLUDING AN AWARDWINNING ARCHITECT, LANDSCAPE GARDENER, CHEF AND WINEMAKER TO HELP REALISE MY VISION.”

Graff shakes the hand of Jussi Pylkkanen at a Christie’s auction for FACET. Graff is a familiar sight at Christie’s as he holds the record for the most expensive diamond ever bought.

Graff Diamonds is known for its exclusive products, such as this peacock brooch with coloured diamonds.

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Major Indian companies like Tata Consultancy Services, Infosys and Wipro have embarked on ambitious building projects. The aim is to attract and retain employees, dazzle potential clients and show off India’s modern face, reports Vikas Bajaj.

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Tata Consultancy Services (TCS) is building a huge complex near Chennai that will eventually accommodate 24,000 employees.

The Infosys Campus in the company’s hometown of Bangalore. Infosys started the trend of building huge campuses in 1995.

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February 2011

Indian companies are involved in a building boom to showcase the new face of India. Pictured is part of TCS’ new campus near Chennai.

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NEPAL

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INDIA Mumbai Indian Ocean THE NEW YORK TIMES

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Recently installed solar panels for a water heating system at Wipro Technologies in Gurgaon, suburban New Delhi.

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Infosys is known for its quirky buildings and the company has a rule that no two buildings will look alike.

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“The complex also established the company’s quirky style – with a glass pyramid for an auditorium and a building that resembles a washing machine – and helped set a benchmark for big campuses in the technology industry.”

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February 2011

NEWS CRUNCHERS Powerful computers loaded with custom software are now speed reading news reports, websites and company statements and interpreting what it means. For tech-loving traders this is a huge step forward but it also has its critics, reports Graham Bowley.

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Vince Fioramonti, a portfolio manager at Alpha Equity Management, uses Thomson Reuters software to measure market sentiment. He believes the software gives him the ability to assimilate more information.

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Technology

BARTER MAKES A COMEBACK Bartering, an age-old mode of commerce, is making a comeback thanks to consumer belt tightening and environmental concerns, reports Mireya Navarro.

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Portfolio

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February 2011

“Britt Beemer, chief executive of the survey firm America’s Research Group, said his polls had found that up to 26 per cent of respondents said they were bartering products and skills, more than double the percentage in 2000.”

Trade

Emilie Hyams (left) organised her event through SwapforGood.com, which donates money to groups that help victims of domestic violence.

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Mothers can keep clothing budgets in check for their rapidly growing children by swapping clothes on ThredUP.com.

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Trade

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ThredUP.com and Swap.com are just two of many recently established online businesses that cater for the upswing in bartering across the US. Just like eBay, some of the sites have a star rating system and allow users to post reviews that foster transparency.

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“As she saves hundreds of dollars, Spitzer said she doubted she would ever go back to her old ways even in a better economy. She has been trolling other websites for discounted gift certificates for restaurant meals, meats and produce to give as holiday presents to relatives.” February 2011

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Energy

READY FOR RICHES? When Exxon Mobil starts exporting natural gas from Papua New Guinea in 2014 it will bring a flood of revenue to the island. But many are worried this money may turn into a problem rather than a blessing, reports Norimitsu Onishi.

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A well head in the Southern Highlands of Papua New Guinea. The countryâ&#x20AC;&#x2122;s gross domestic product is set to more than double when Exxon Mobil starts shipping natural gas in 2014.

February 2011

Energy

Tari is the largest town close to the gas fields. The airstrip has seen a lot more activity since Exxon Mobil arrived.

Peter O’Neill, Papua New Guinea’s finance minister, at his office in Port Moresby.

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Property is a major stumbling block for Exxon Mobil in Papua New Guinea as thousands of people own small parcels of land. Hamon Matipe (centre) is the chief of Kili. He and his villagers recently made a deal to sell their land to the government.

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ma^ mngg^e'Ë February 2011

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hma^k \k^]bmhkl' ■

Overnight Day Trading China, the outsourcing powerhouse, has a new niche in stock trading with

Workers at Lazer Trade, a stock trading firm in Beijing. Trading firms based in the United States and Canada are recruiting inexpensive workers in China and teaching them to engage in speculative trading. Portfolio

Trading

the world’s most powerful investment houses, reports David Barboza. ;>?HK> MA> HI>GBG@ ;>EE

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February 2011

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King Chan is the general manager of Lazer Trade. Chan says his branch, which has around 20 employees, trades up to five million shares daily.

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“Swift Trade is considered one of the pioneers in the outsourcing of day trading. It grew initially by offering brokerage services in Canada and then by hiring Canadians to trade the firm’s capital from its Toronto headquarters.

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The London Stock Exchange (LSE) is the largest in Europe with 2,713 listed companies. Chinese traders are working with powerful London, Tokyo and New York based investment houses.

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February 2011

Trading

Media

CROSSING THE GREAT DIVIDE

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The Atlantic, one of America’s most respected magazines, had been hamorrhaging money for years. A bold step into the web and merging digital and print sales has turned the publication around, reports Jeremy Peters.

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È k^ik^l^gml Zefhlm -) i^k \^gm h_ ma^ Portfolio

Employees inside the newsroom of The Atlantic. The monthly magazine turned its first profit last year in more than a decade.

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James Bennett, the editor, refocused the magazine towards the internet by hiring wellknown bloggers to push up traffic at The Atlantic’s website.

David Bradley, owner and chairman of the Atlantic Media Company, left, and Justin Smith, president, in Bradley’s office in Washington.

The Atlantic has been around for 153 years and is regarded as an intellectual read. Contributors have included Ralph Waldo Emerson, Mark Twain and Ernest Hemingway to name just a few.

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“Bradley, an exceedingly polite man who carries himself with a gentility that can make it seem as if he comes from a different era, ruefully recalled in an interview that buying the magazine quickly began to look like a mistake.”

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Media

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REUTERS

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The Atlantic makes more than 14 per cent of its revenue by hosting events where the likes of Alan Greenspan, former chairman of the Federal Reserve, are headline speakers.

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“Another major ingredient for growth has been Atlanticbranded conferences. The company started hosting events in 2006, and they now make up more than 14 per cent of its total revenue.”

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NEW AGE OF MODELLING

Websites that sell clothing online use models differently to the glamour magazines. Poses are less contrived and ‘approachability’ is the key factor, reports Catherine Saint Louis.

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Marketing

Ford model Elena Greenwall (right) often poses for Shopbop.com. On the left is agent Stephanie Teymourian, head of Ford’s women’s division.

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“I don’t think that people want to see a perfect model,” she said. “The ones that attract us the most are ones with effortless cool who are actually approachable, that you could be friends with.”

Gilt works with luxury brands, such as Oscar de la Renta, to find appropriate models that reflect the brands’ core values. Portfolio

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Model Alissandre Martines has her makeup done at a Gilt fashion website shoot in New York.

February 2011

Photographer Keetja Allard shoots at a rapid pace and the pictures are immediately transferred to a computer for editing. For this shoot Martines was told not to be intimidating.

Marketing

Recycling

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CORBIS

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Electronic parts are shredded and then smelted in a furnace that reaches 1,400°C before various minerals can be extracted.

Urban Mining

/*&f^mk^&mZee _nkgZ\^ k^g]^kl Portfolio

Recycling

Japanese firms needs lots of rare earths and other minerals to keep production going. Now the mineral-poor country is looking at an unlikely new source: recycling old electronics, reports Hiroko Tabuchi. February 2011

REUTERS

GETTY IMAGES

Recycling

Foreign Minister Seiji Maehara was forced to step in when China stopped rare earth shipments to Japan.

A worker measures lumps of boron at a factory in Tianjin, China. Former Chinese leader Deng Xiaoping made rare earths a priority a decade ago and today China has cornered the world market.

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“As Dowa has turned its attention to rare earths, a priority is developing ways to render neodymium, which is used in powerful magnets.”

nk[Zg fbg^l \hne] a^ei k^]n\^ CZiZgÍl Portfolio

CORBIS

‘Urban mining’, which refers to the recycling of old electronics, is being taken seriously in Japan as it is totally dependent on China for rare earths.

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REUTERS

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Molten gold, recycled from components of mobile phones and other discarded electronic items, is poured into a mould at Kosaka Smelting.

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MAHN@A =HP: ]h^l ghm ]bl\ehl^ February 2011

Essentials

Essentials Archaeology

THE BEST OF LEISURE AND LIFESTYLE

REVIVING BABYLONâ&#x20AC;&#x2122;S RUINS Iraq is full of important archaeological sites that stretch back to Mesopotamia, and the jewel in the crown is Babylon. Efforts are now underway to save Babylon from a host of threats, reports Steven Lee Myers.

February 2011

After years of neglect, archaeologists and preservationists have once again begun working to protect and even restore parts of Babylon and other ancient ruins of Mesopotamia.

Essentials

Archaeology

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Essentials Archaeology

American soldiers escort a team working on a restoration at the ruins of Ctesiphon in the outskirts of Baghdad. An artist's impression of The Hanging Gardens of Babylon, considered to be one of the original Seven Wonders of the Ancient World.

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REUTERS

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A lot of Babylonian and other treasures are currently stored at Baghdad's National Museum for safekeeping. Pictured is an Assyrian human-headed winged bull with museum guard Abed Atiya al-Shemari. February 2011

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Essentials

Archaeology

TURKEY

REUTERS

Tourists take a picture in front of a temple in the historic city of Hatra, 350 kilometres north of Baghdad. 100 MILES

Mosul

Nimrud ris Tig

IRAN

IRAQ Karbala

Baghdad

Babylon Jimijma Euph

Ur SAUDI ARABIA

rates Basra

KUWAIT

THE NEW YORK TIMES

A bass relief of the Babylonian god, Marduk, on the walls of the Ishtar Gate, which was built in the sixth century by Nebuchadnezzar’s father, Nabopolassar, in Babylon.

The New York Times

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Ma^ fnl^nf% pbma mak^^ `Zee^kb^l%

Portfolio

Essentials Archaeology

A 1950’s reconstruction of the Ishtar Gate in Babylon. The original is in a Berlin Museum.

“We’re looking at the economic opportunities and viability for local people. They need to see something out of this site. That’s possible, and possible at the same time to preserve the integrity of the site.” Ma^r _^Zk ma^ ik^l^koZmbhg h_ ;Z[rehgÍl knbgl pbee _hk\^ ma^f _khf ma^bk ahf^l Zg] _ZkfeZg]l% Zl pa^g Anll^bg ^qi^ee^] k^lb]^gml h_ Z eh\Ze obeeZ`^ mh [nbe] abl iZeZ\^' ÊMa^r mhhd ma^f _khf ma^bk eZg]l%Ë lZb] Fbgla^] Ze&FZfnkb% pah kngl Z \bob\ The Aqar Quf ziggurat is among the 10 oldest structures in Iraq and once drew hundreds of visitors each week from nearby Baghdad.

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ma^ bgm^`kbmr h_ ma^ lbm^'Ë ■

February 2011

Essentials

Culture

Portfolio

ALTHOUGH THE RELATIONSHIP BETWEEN VENEZUELA AND THE US HAS BEEN THROUGH SOME TURBULENT TIMES, THE VENEZUELAN LOVE AFFAIR WITH CLASSIC AMERICAN GASGUZZLERS REMAINS UNAFFECTED, REPORTS SIMON ROMERO.

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The inside of a 1974 Lincoln Continental in Caracas, Venezuela. Vintage American cars, fuelled by some of the world’s cheapest petrol, are everywhere on the streets of the South American country. February 2011

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Essentials

Culture

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Humberto Melos is the proud owner of a 1974 Ford Torino. Used cars retain their value well in Venezuela, but they are still cheaper than new ones.

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Affluent areas of Caracas are awash with new cars, but you still catch a glimpse of the occasional American classic.

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Essentials Culture bg \eh``^] mahkhnà_Zk^l pbma lfZee^k MhrhmZl% =Z^phhl% Ahg]Zl Zg] Arng]Zbl' MahnlZg]l h_ fhmhk[bd^ \hnkb^kl p^Zo^ makhnà ma^ `kb]eh\d% Z]]bg` mh ma^ \aZhl' =>LIBM> MA> g^p^k \Zkl% ma^ ehp `khpe h_ :f^kb\Zg `nsse^kl lmbee \nml makhnà ma^ ]bg h_ mkZ__b\% ôhdbg` bg lhf^ pZrl ma^ eho^ Z__Zbk maZm i^hie^ bg <n[Z% O^g^snêZÍl mhi Zeer% aZo^ pbma ik^&*2/) :f^kb\Zg Znmhfh[be^l' Lhf^ fhmhkblml lZr ma^r [nr ma^ \Zkl [^\Znl^ liZk^ iZkml Zk^ ^Zlber ZoZbeZ[e^' Hma^kl [nr ma^f mh a^]`^ Z`Zbglm O^g^snêZÍl abà bg_eZmbhg'

Julio Navas, a taxi driver, still uses his 1973 Dodge Coronet daily.

Nl^] \Zkl ahe] ma^bk oZen^ k^fZkdZ[er

A Car Market Of Hills and Valleys Total car sales in Venezuela

350,000 300,000 250,000 200,000 150,000 100,000 50,000

’92 ’94 ’96 ’98 ’00 ’02 ’04 ’06 Est. Source: Venezuela Automotive Chamber

Luis Jose Alfonso Gonzalez sits on top of his 1978 eight-cylinder Chevy Malibu in Naiguat, a small coastal town outside of Caracas.

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N.Y. Times News Service Lmbee% ma^ ^bàm&\rebg]^k phkdahkl^l pZkieZg^l% Z\jnbk^] [^_hk^ ]biehfZmb\ Date: 11/3/06 k^fZbg \a^Zi^k maZg g^p^k fh]êl% kêZmbhgl lhnk^] pbma PZlabg`mhg Zg] lmbee Graphic Slug:CARS-ROMERO-NSPR ^qieZbgbg` ma^bk ikôZe^g\^ bg lhf^ ihhk _ehpg [r O^g^snêZÍl :bk ?hk\^' Size: 1 x 3 1/2 ]blmkb\ml h_ <ZkZ\Zl Zg] hma^k \bmb^l' ;nm ;nm fZgr h_ ma^ Z`^bg` :f^kb\Zg _e^^m With Story: (BC-CARS-ROMERO-NSPR-NYT) ma^ Z__^\mbhg _hk ma^ Z`^bg` :f^kb\Zg l^^f fhk^ ebd^ knlmbg` mnk[hikhil maZg

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The New York Times

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Essentials

Science

A Difficult Journey

The Bill & Melinda Gates Foundation gave $450 million in five-year grants to 43 exciting proposals to tackle world health problems. Although the jury is still out, some have shown promise while others have failed, reports Donald McNeil Jr.

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PHOTO COURTESY: BILL & MELINDA GATES FOUNDATION

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Bill and Melinda Gates have poured millions of dollars into tackling some of the world’s biggest health problems. Portfolio

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PHOTO COURTESY: BILL & MELINDA GATES FOUNDATION

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Later this year the Bill & Melinda Gates Foundation will move into its new campus in Seattle. It is envisioned as a hub for innovation and gatherings of experts from many fields, perspectives and countries who are dedicated to improving lives around the world.

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GRAPHEAST

DRIED VACCINES

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Dengue fever, a mosquito-borne disease, has been on the rise lately. In the Philippines there was double the number of cases in 2010 compared to the previous year.

“Dr. Abraham Sonenshein of Tufts University succeeded in splicing tetanus vaccine proteins into a bacterial spore that survives heat or cold and can be sprayed into the nose.”

Essentials

PHOTO COURTESY: BILL & MELINDA GATES FOUNDATION

Science

GETTY IMAGES

Dr. Richard Axel, a Nobel Prize in Medicine winner, is working together with his colleague Dr. Leslie Vosshall on blocking insects’ sense of smell.

One aim of the Bill and Melinda Gates Foundation is to shrink medical equipment to portable size. This new hand-held, low-cost microscope can detect malaria parasites or tuberculosis bacteria.

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LAB IN A BOX

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bg\en]bg` \Zg\^k% @^g^gm^\a% ;kblmhe&Fr^kl Portfolio

Essentials Science

Dr. James Dale has created a better banana by adding Vitamin A to it. This genetically modified fruit is already being grown in Australia.

Work with the wolbachia bacteria is showing some promising results. One wolbachia strain prevents mosquitoes from spreading the dengue virus and chikungunya.

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MOSQUITOES AND BACTERIA

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A BETTER BANANA

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STEM CELLS TO MUSCLES

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“Other scientists cloned new anti-HIV antibodies found in the blood of infected people, so the grant was ‘repurposed’ with a different goal: to inject genes that code for these new antibodies into muscle cells.

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February 2011

Essentials

Profile

The Spirit of Ecstasy Lives On Rolls-Royce CEO Torsten Müller-Ötvös is feeling bullish, and he has every right to be. In 2010 the company sold twice as many cars as in 2009, reports Ayesha Khan.

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The Spirit of Ecstasy, Rolls-Royce’s famous hood ornament, testifies to the innovation and perfection that goes into each car. Portfolio

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Rolls-Royce CEO Torsten Müller-Ötvös has plenty of reason to smile as Rolls-Royce sales have been growing at a phenomenal rate.

Essentials

Architecture

HOW TO BUILD A CITY Kazakhstan is a vast country, rich in resources and cultural tradition. Nick Rice visits the capital city of Astana and witnesses the ongoing development, the welcoming warmth of its people, and the unveiling of the world’s largest tent on the president’s 70th birthday.

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Portfolio

The Khan Shatyr Entertainment Centre, designed by Foster + Partners, is described as the world’s largest tent.

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February 2011

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Essentials

Architecture

An artist’s impression of the 5,000 square metre beach and pool, featuring sand flown in from the Maldives.

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The Turkish construction company Sembol has completed numerous projects in Kazakhstan. Aytekin Gültekin (left) – Chairman of Sembol Construction and Fettah Tamince (right) – Founder of Sembol Construction and Chairman of Rixos Hotels – announce the completion of the Khan Shatyr Center.

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The mounting of the special ETFE material on the cable structure was carried out by 650 professional mountain climbers.

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Essentials Architecture

Top: The acclaimed tenor Andrea Bocelli brought dramatic grandeur to the opening ceremony of the Khan Shatyr Center. Left: Astana rises up out of the vast flat Steppes and construction continues unabated as the population rapidly grows.

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February 2011

Essentials

Cuisine

A KITCHEN FOR RENT Portfolio

Essentials Cuisine

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Meg LaBarbara, of Dinner Is Almost Ready for You, prepares hummus at a rental commercial kitchen in New York.

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A number of unemployed New Yorkers have turned entrepreneurs by catering for the city’s healthy appetite. They rent shifts in a commercial kitchen in Queens that offers space and complies to the city’s health code, reports Fernanda Santos.

February 2011

Carol Lang, who runs Cibelli Chocolates, prepares several flavours of chocolates. Most of the cooks work alone, but some have drafted in family and friends to help.

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“At the kitchen here in Long Island, space is rented by the shift; the most expensive is from 8 am to 4 pm, which costs $231, and the cheapest is from 1 am to 7:30 am, which costs $154.”

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Danika Charity, of Flatiron Kitchen, is one of around 100 entrepreneurs that have set up small businesses and rent shifts in the Queens-based commercial kitchen. February 2011

Essentials

Health

Herbal Healing The use of medical plants and herbs to treat illnesses has a long tradition in almost every country. Today, these naturopathic medicines are enjoying a major revival, continuing to grow in popularity as more and more people look for alternatives to common drugs and medical procedures, reports Thomas Ernsting.

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ghm ik^l\kb[^] fhk^ l^^fl mh [^ iZkm h_ Z iZkZ]hq' Portfolio

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Ahpô^k% pbma ma^ ]ôêhif^gm h_

PHOTO: ISTOCK PHOTO

Ablmhkb\Zeer% >nkhi^ Zg] ^li^\bZeer

February 2011

There are various ways of extracting herbal components. Boiling the plants is one method used in laboratory conditions.

At microbiological laboratories herbal extracts are continuously monitored and mixed in exact amounts so that all medicine batches have the same effectiveness.

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Sorel (top right), cowslip primrose (right) and vervain (verbena, ironwort and ironweed mixed) are carefully mixed and weighed before the extraction process.

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<HFI:KBG@ <A>FB<:E ]kn`l pbma

Zek^Z]r f^gmbhg^]% bm bl ghm hg^ blheZm^]

“Drugs are effectively used to treat specific diseases such as headaches or colds, whereas herbs and medical plants aim to affect the whole organism, not just a specific virus or bacteria.

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[ZgZgZl' =kn`l Zk^ ^__^\mbo^er nl^] mh

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m^kf iarlb\Ze lrfimhfl' Fhk^ho^k% Zl

aZg] \Zg abg]^k ma^ ^__^\m h_ ma^ :B=L Portfolio

Essentials Health

The efficacy of herbal medications is tested under laboratory conditions on a variety of viruses, germs and tissue cultures.

Sinupret, a sinusitis drug, is the most popular medicine produced by Bionorica AG.

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Z l\b^gmb_b\ f^mah] h_ ]^o^ehibg` February 2011

Ma^ ikh\^ll h_ ]^o^ehibg`

Z]ob\^ [^_hk^ [nrbg`' ■

Essentials

Test Drive

The LR2 has an uncluttered interior with plenty of head and legroom. There’s no shortage of plush leather either.

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COMPACT LUXURY The Land Rover Freelander virtually created the compact, luxury SUV market with its launch in 1997. Competition has heated up since then, but the LR2 is holding its own, reports Guido Duken.

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Lhf^ k^ob^p^kl aZo^ \hfieZbg^] maZm ma^

Ng]^k ma^ [hgg^m ma^ EK+ aZl Z ,'+& Portfolio

Essentials Test Drive

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kif' MaZm Z]]l ni mh )&*)) df(a bg

[nm ghm iZkmb\neZker bgmknlbo^'

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There’s no doubting the LR2’s off-road credentials, although some people might baulk at putting an approximately $43,000 car through such hardship. February 2011

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Essentials

Other Business

NOT THE ROYAL BRIDE?

Size Matters

GRAPHEAST

There were some raised eyebrows when a commemorative coin to mark the engagement of Britain’s

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Prince William and Kate Middleton

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was unveiled late last year as not

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everyone might recognise the

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bride-to-be. The depiction, based on

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photographs of the couple at a

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sporting event, bears some

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resemblance to William but less so

bl Z `bZgm bg ^o^kr pZr pbma Z `khll mhggZ`^ h_ ++.%+1+% e^g`ma h_ ,/*'1 f^mk^l% Z a^b`am h_

his fiancée. Royal watchers said she

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appears much fuller in the face on

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the coin than she is in real life. “This

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coin is of historical importance – to

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get it so wrong seems ridiculous,”

Honouring the ‘Squid’ ?hkf^k ;kZsbebZg Ik^lb]^gm Enbs BgZ\bh

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Editor-in-Chief of Majesty magazine, Ingrid Seward, said. The design was approved by the 28-year-old couple and by William’s grandmother Queen Elizabeth. The

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Royal Mint, which produced the

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collectors’ item, said it had no

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intention of changing the design.

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The Royal Mint has created many commemorative medals and coins to mark special occasions, including the 2012 London Olympics as well as other royal events, but this is the

kb`am mh ahlm ma^ +)*- Phke] <ni lh\\^k

pah khl^ mh ihp^k ]^libm^ aZobg` cnlm Zg

first time it has created a comme-

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morative royal engagement coin.

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The coin comes in silver and gold,

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and its various models cost from

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£9.99 to £1,550 pounds.

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