Qatar Today June 2015

inside this issue June 2015 / Vol. 41 / Issue 6

COVER STORY

36 A SPOTLIGHT ON QATAR INC

Qatar Today is back with its yearly process of reflecting on the achievements of the top performers of 2014 at the Qatar Exchange. The annual ranking process, the Qatar Today Top 10, recognises those companies that have made a mark in their investors’ portfolio by showing resilience, immense growth and returns. This year we also honour the winners through the Qatar Today Business Excellence Awards.

24 THE CSR TRENDSETTER

In a frank and engrossing chat, Dana Haiden discusses altering the understanding of CSR in Qatar, its constantly evolving nature and her own journey in trying to find her feet in this exciting management speciality.

66 MILLENNIAL QATARIS

Aon Hewitt’s Qudurat study, aimed at identifying regional talent developments, paints an interesting picture of our Millennials in relation to the world of work, and brings into focus the challenges for Qatarisation.

76 GREEN SIGNAL

As part of its Green Programme for Schools initiative, Qatar Today has continued to engage with students and teachers across the country to understand what they are doing to further the green cause.

inside this issue June 2015 / Vol. 41 / Issue 6

30 J-BOG WILL REDUCE GHG EMISSIONS

Extensive investments in gas recovery technology look set to reduce Qatar’s carbon footprint, with newly-opened facilities aiming at boosting production and earnings whilst minimising wastage.

64 WHO IS RESPONSIBLE FOR CREATING JOBS?

According to the World Bank, over 50 million new jobs need to be created in the Middle East and North Africa (MENA) region in the next decade at a growth rate of 6.5% to ensure political and social equilibrium.

68 CONNECTED TO THE FUTURE

Our roads, our cars and the driving experience are set to change forever.

How prepared is Qatar? We find out from the company that will likely be leading this transformation from the inside – the Qatar Mobility Innovations Center.

72 BITE-SIZED BYTES

Qatar Today chats with the team behind Doha Heat and the newly created Ginger Camel Media Network who offer an exciting new way for individuals and companies to reach out to their audience.

82 TRAVEL: DIGITISED, PERSONALISED

Just in time for the summer holiday rush, our technology contributor examines some striking regional trends in the online travel segment.

92 REACHING OUT TO TAKE CHARGE

Qatar Today goes behind the scenes of the annual How Women Work conference.

and regulars 12

NEWS BITES

16

BANK NOTES

18

REALTY CHECK

20

O&G OVERVIEW

80

TECH TALK

84

AUTO NEWS

88

MARKET WATCH

94

DOHA DIARY

from the desk The next few days are crucial; the country will either be cleared of all alleged wrongdoing or lose the 2022 World Cup. One FIFA official has declared that if there is any evidence of foul play, both Russia and Qatar will be stripped of their hosting rights.

Last month has been most decisive for the world of football with the widening scandal at the sport’s governing body that has led to indictments, arrests and FIFA President Sepp Blatter’s decision to resign. But as revelations continued over the past week, it also cast a shadow over at least five World Cup tournaments from 1998 to the 2022.

Qatar has much at stake and while the Foreign Minister HE Khalid bin Mohammed Al Attiyah has strongly denied any foul play, hinting at an anti-Arab prejudice behind these accusations, the mounting tension is almost palpable. There could not have been a worse moment; the decline in oil prices has already put many new projects in limbo as oil majors have resolutely begun the process of tightening resources through restructuring and reorganising (read retrenchment).

In a country that relies extensively on foreign labour for all its projects, the effect of taking away the World Cup hosting rights is far reaching; dreams of many expatriates who have come to make a life in a prosperous country and hopes of companies that have formed partnerships to advance their businesses will all be affected. As the whole country waits with bated breath, the Qatar Exchange too reflects the trepidations of the population, and dips.

A demonstrator disguised as FIFA President Sepp Blatter takes part in a protest on the sidelines of the 65th FIFA Congress on May 28 in Zurich.

AFP PHOTO / FABRICE COFFRINI

But like the authorities have echoed, Qatar’s National Vision 2030 has already shaped a need for infrastructure upgrade, non-oil and gas projects to diversify and a knowledge economy to thrive. With hopes held high, Qatar Today proceeds with its annual ranking process, the Qatar Today Top 10. Believing in the nation’s resilience and leadership, the process is now extended to an event, the Qatar Today Business Excellence Awards to felicitate the top winning companies of the Qatar Exchange.

As they say, winning is not everything, it is THE only thing. Catch the winning team featured in our cover story; hear the leaders speak about the struggles that shape them and the resilience that makes them bounce back through adversities.

The summer months have arrived; stay indoors and remain hydrated.

SINDHU NAIR Managing Editor

PUBLISHER & EDITOR-IN-CHIEF YOUSUF JASSEM AL DARWISH CHIEF EXECUTIVE SANDEEP SEHGAL EXECUTIVE VICE PRESIDENT ALPANA ROY EDITORIAL MANAGING EDITOR SINDHU NAIR DEPUTY EDITORS V L SRINIVASAN IZDIHAR IBRAHIM SENIOR CORRESPONDENTS ABIGAIL MATHIAS AYSWARYA MURTHY ART SENIOR ART DIRECTOR VENKAT REDDY DEPUTY ART DIRECTOR HANAN ABU SAIAM ASSISTANT ART DIRECTOR AYUSH INDRAJITH SENIOR GRAPHIC DESIGNER MAHESHWAR REDDY NIBAL N BOUKHOUZAM PHOTOGRAPHER ROBERT F ALTAMIRANO MARKETING AND SALES BUSINESS HEAD FREDRICK ALPHONSO MANAGER – MARKETING SAKALA A DEBRASS ASSISTANT MANAGERS – MARKETING HASSAN REKKAB MATHEWS CHERIAN DENZITA SEQUIERA SONY VELLATT A H M IRFAAN ASSISTANT EVENTS MANAGER JASMINE VICTOR

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letters

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DO YOU THINK SEPP BLATTER SHOULD HAVE REMAINED PRESIDENT OF FIFA? APRIL 2015 QATAR TODAY POLL

THANK YOU FOR NOT SMOKING

57 YES

43 NO

The interview with Dr Judith Mackay was quite an eye-opener. It is true, I haven't seen a single national anti-smoking billboard or advertisement or PSA in the three years I have lived in Doha. The attitude towards smoking here is pretty lax. As for the government's plans to focus on reducing the prevalence of smoking, I say better late than never.

I am waiting for the day when someone would think twice before smoking a casual cigarette on the Corniche and throwing the butts into the sea.

Figures in percentages

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THE WINNING ENTRY FOR LAST MONTH'S QT POLL WAS SENT FROM

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FELICITY BROWN

POWERED BY

SHOULD WE REALLY BE WARY OF IRAN? Mamdouh G Salameh's expert opinion on where Iran stands in regards to its hydrocarbon resources was shocking to say the least. Is this the world's bestkept secret? Doesn't this lend a different dynamic to the ongoing nuclear negotiations between Iran and the United States? It would have been nice if he could have elaborated more on this.

KAPIL SHROFF A MORE ACTIVE QATAR EXCHANGE I can't but help support the government's push for more companies to list on the exchange. It's going to be an uphill battle for sure. Family-owned businesses here aren't used to submitting their affairs for public scrutiny.

EXPERIENCE A NEW ERA OF READING

KHALED ANOTHER NEW STADIUM As someone who was in Qatar when it won the World Cup bid, it gives me special pride to see things fall into place one by one. For those who think that the Internet is not the best measure of these things, the hostility towards Qatar is there for all to see. Despite the fact that the attacks are vehement, Qatar must put aside its pride to recognise that this is the right time to carry out some of these fundamental changes so that the society is not stuck in history while the country makes the leap forward into the future.

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affairs > local AT CAMP DAVID

T

US President Barack Obama hosted leaders of the GCC States, including HH The Emir Sheikh Tamim bin Hamad Al Thani, at Camp David to discuss the security situation in the region that has seen a steady increase in conflict.

he meeting aimed at addressing a range of issues including the security situation in the region, an integrated defence strategy against ISIS and other external threats, Syria and Iraq, and the fighting in Yemen, etc. "At Camp David, the leaders of the GCC States and President Obama reaffirmed the longstanding US-GCC partnership and pledged to further enhance the relationship between the United States and GCC member states," began a joint statement released after the two-day meeting. Iran was also a major topic on the agenda, with the White House hoping to reassure the GCC States about the nuclear talks with Tehran. The US was keen to convince the various leaders of the stringent criteria that would be in place, should a deal be reached - both to ensure Iran doesn't develop offensive nuclear capabilities and to meet international safety standards because of the implications of nuclear pollution.

GOVERNMENT RESPONDS TO THE WASHINGTON POST The government's Communication Office criticised a Washington Post report for distorting facts.

16 > QATAR TODAY > JUNE 2015

CREDIT: WASHINGTON POST

I

t is rare for the government to respond to news reports from the global media, but that was until Washington Post's online report entitled "The Human Toll of FIFA's Corruption" went viral. The anchor of the story was a startling infographic which compared the deaths related to construction activities in the recent Olympic Games and World Cups – little human shapes that indicated 1 in London, 10 in Brazil, 6 in Beijing, and in Qatar the figures stretched down and beyond the ends of the page, in blood red. But Qatar called out this report for comparing deaths that happened in the migrant community in general in Qatar to specific constructionrelated deaths in the other cases. Saying that the report has no basis in fact, the statement also added, "After almost 5 million work-hours on World Cup construction sites, not a single worker's life has been lost. Not one." While the article was "updated to reflect the fact that figures include total migrant worker deaths in Qatar, not just World Cup-related deaths", the infographic didn't include this caveat. "Enormous damage has been done to Qatar's image and reputation," the statement said and its demand for the report to recanted and removed hasn't yet been met.

POLLING DAY As a new set of officials were elected into the 29-member Central Municipal Council, new trends emerged.

Most of the winners were younger than

30

years of age, indicating a more youthful council with

14

first-time members.

2

FIFA IN TURMOIL Amidst what many analysts have dubbed the biggest crisis facing the sporting association, several highranking FIFA officials were arrested in Zurich, just days before the elections for a new president.

I

t was a week of high drama at FIFA, with the unfolding of a series of events each more shocking than the last. It began with the sudden arrest of 14 FIFA officials in Zurich. They are to be extradited to the United States where they face charges by the US Department of Justice for wire fraud, racketeering, and money laundering. Swiss authorities then announced that they have also opened a separate criminal investigation into FIFA's bidding process behind the awards of the 2018 and 2022 World Cups. Sepp Blatter confirmed he wouldn't resign and would in fact run for a fifth term in the elections that were only a few days away. At the charged and closely scrutinised FIFA Congress, Blatter was voted in after his contender Prince Ali bin Al Hussein pulled out after the first round of voting. But before completing even a week as the new president, FIFA convened a hasty press conference where Blatter announced his intention to resign after the Congress elects a new president, which wouldn't be for a few more months. This followed closely on the heels of fresh allegations that his deputy Jerome Valcke at least knew about the bribes allegedly paid by the South African Football Association. Meanwhile, news was trickling down from the US that the Federal Bureau of Investigation and US prosecutors were investigating Blatter himself, though he hasn't yet been charged with anything.

women, veteran Sheikha Jufairi and firsttimer Fatma Al Kuwari, were voted into office.

Out of the

23,047

registered voters, 14,670 turned up to cast their ballot.

This year's voter turnout of %

69.8

reverses a steady slide in voter numbers since elections began in 1999.

Of the

130

candidates, several withdrew before election which resulted in three constituencies where candidates ran unopposed.

QATAR TODAY > JUNE 2015 > 17

affairs > local

NEW DEFENCE DEAL INKED French President Francois Hollande and HH The Emir Sheikh Tamim bin Hamad Al Thani signed a 6.3 billion euro (QR25.5 billion) agreement for the sale of 24 Dassault Aviation-built Rafale fighter jets.

The contact also includes MBDA missiles, and the training of 36 Qatari pilots and 100 technicians by the French military. Hollande had stopped over in Qatar before making his way to Riyadh where he was due to attend the GCC summit as a guest of honour.

REEXAMINING OLD RELATIONSHIPS AND NEW Doha hosted two back-to-back forums in May, indicative of how the Middle East might in the future end up balancing its relationships with an increasingly reticent US and an aggressively confident Russia.

SAUDI ROCKED

BY BOMBINGS Two explosions in Shi'ite mosques in Saudi Arabia last month were quickly claimed by ISIS, arousing fears that the sectarian violence up north might spill into the Gulf.

The threat of the Islamic State hit close to home with two attacks in Saudi Arabia that killed 26 people in total. A suicide bomber blew himself up at a Shi'ite mosque in the nearby village of Al Qadeeh in the east of the country, killing 22 people. A week later, a suicide bomber disguised as a woman blew himself up on Friday outside a Shi'ite Muslim mosque in the city of Dammam, killing four people.

Saudi Arabia has offered a cash reward of 5 million riyals (QR4.8 million) for information leading to the arrest of sixteen people it said were involved in the two attacks.

18 > QATAR TODAY > JUNE 2015

T

his year the US-Islamic World Forum hosted by The Brookings Institute saw keynote addresses from US Special Presidential Envoy General John Allen, Colin Kahl, US Deputy Assistant to the President and National Security Adviser to the Vice President, and President Ashraf Ghani of Afghanistan who addressed the attendees via webcast. General Allen pointed out that in this region "the relationship between the United States and the world, and even the nature of the global order, this is a time when assumptions are rapidly changing."

The scope of this forum highlighted the fact that though the Arab world's relationship with the US hasn't always been amicable, the two sides are very much invested in each other in the efforts to solve the region's growing challenges. Meanwhile, a few days earlier, at "Russia and the Arab World : Current Transformations of an Enduring Relationship" forum put together by the Arab Center for Research and Policy Studies examined the past, present and future relationship with Russia. Here, the participants were mostly academics and analysts who concluded that, though historically ties between Russia and the Arab world have been strong, through the Cold War and the fall of the Soviet Union these had virtually disappeared, with even trade ties lagging behind. Because of Russia's support of Assad's regime, Arabs viewed the erstwhile superpower with mistrust and the large role that Russia is expected to play in the region is ambiguous.

business > bank notes “The launching of the Islamic Financial Services Board (IFSB) database represents an important milestone in the ongoing transformation of Islamic finance into a globally significant undertaking.”

JASEEM AHMED Secretary General Islamic Financial Services Board

Four Qatari banks among Mena’s top 50 brands

Four Qatari banks figure in the top 50 brands in Mena in 2015, with a combined brand value of around QR13.47 billion. The banks are Qatar National Bank, ranked fifth with brand value of QR9.47 billion; Commercial Bank at 41st (QR1.5 billion); Doha Bank at 47th (QR1.3 billion); and Qatar Islamic Bank at 48th (QR1.15 billion).

B

esides these four banks, Qatar Airways and Ooredoo also figure in the list and are positioned at 4th and 6th places with brand values of QR9.98 billion and QR6.33 billion, respectively, a latest report by Brand Finance, the world’s leading brand valuation and strategy consultancy, says.

All of Qatar’s brands have performed well this year. The average brand value growth rate for the Middle East as a whole is 23% while that of Qatari brands is nearly double that at 47%.

The Middle East’s two fastest-growing brands are both from Qatar – QIB has risen

91% and Ooredoo 82% – helped in part by the rebrand of providers in markets such as Algeria, Tunisia, Kuwait and Oman under the Ooredoo master brand.

RBS winds up Qatar operations

Royal Bank of Scotland (RBS) has closed its branch in Qatar with its country head departing, according to Reuters.

Q

atar has been one of the bank’s more active overseas markets in recent years, with RBS acting as financial adviser for Qatar Petroleum on major energy projects as well as coordinator for Ooredoo, then Qatar Telecom, on a $1 billion (QR3.64 billion) bond issue in 2013.

But RBS, 79% owned by the British government, is shrinking its corporate and institutional banking business in the Middle East, Africa and parts of Europe and

20 > QATAR TODAY > JUNE 2015

Asia to refocus on its home market.

The bank returned its local licence to the Qatar Financial Centre Regulatory Authority on March 25th and an RBS spokeswoman confirmed the branch closure.

RBS had held the licence since 2007, offering markets and international banking services. Management of its existing exposure in Qatar would still be handled in London, the report says.

Qatari exporters and Tunisian importers ink pacts

Bilateral meetings between Qatari exporters and Tunisian importers have resulted in the signing of commercial contracts totaling QR30 million. The meetings were attended by HE Abdullah bin Nasser Al Hamidi, Qatar’s Ambassador to Tunisia, and both sides reviewed potential export opportunities and ways of promoting in-demand Qatari products in the prominent Tunisian markets.

Qatar Development Bank CEO Abdulaziz bin Nasser Al Khalifa said: “By supporting export expansion in the private sector, QDB had an integral role in signing these commercial contracts between Qatari exporters and Tunisian importers, representing a growth of 88% compared to last year.” As many as 18 Qatari companies and 120 Tunisian companies participated in the meetings.

business > realty check “Qatar is leading the green building movement in the Middle East on the availability of information, awareness and education programmes, and development approach. Within five to ten years, Qatar’s green building market will compete with European standards.”

DR DON MCLEAN CEO and Founder Integrated Environmental Solutions

QATAR DIAR TO DEVELOP RESORTS IN NORTH AFRICA

Qatari Diar, wholly owned by the Qatari Investment Authority, has partnered with global hotel operator Minor Hotel Group (MHG) to develop two new Anantara resorts in North Africa, to open in 2017.

A

nantara Tozeur Resort is a new luxury escape in the southwest of Tunisia, in the city of Tozeur, and offers 93 luxurious guest rooms and villas, including pool villas, a selection of restaurants and bars, meeting and business facilities, kids and teens’ clubs, a health club and an Anantara Spa. The other one is Anantara Al Houara Tangier Resort in northern Morocco, which is part of the extensive Al Houara project, is coming up along 2.5 km of beach front overlooking the Atlantic Ocean. It will also include a signature 18-hole golf course with golf club and residential homes for sale.

Realty transactions hit a new high

Property transactions in Qatar stood at QR26 billion in the first three months of the current year, up a massive 56% over the same period last year (Q1 of 2014).

The total was QR16.7 billion in Q1 last year and QR13.6 billion in the first quarter of 2013. There was a 91% increase between Q1 of 2013 and Q1 of 2015. The figures show the sector is robust due to the development projects being launched and on the back of a booming economy, and is expected to remain so until FIFA World Cup 2022.

22 > QATAR TODAY > JUNE 2015

Qatar Airways acquires Scottish hotel

Qatar Airways has acquired the Novotel Edinburgh Park Hotel in Scotland.

I

ts second overseas hotel acquisition after Sheraton Skyline Hotel at Heathrow Airport in London and the property will continue to be managed and operated under the Novotel brand

by Accor which operates more than 3,700 hotels worldwide.

The Novotel Edinburgh Park is a fourstar property located on Lochside Avenue, close to Edinburgh International Airport and links the airport and Edinburgh city centre.

Qatar Airways Group Chief Executive Officer Akbar Al Baker says: “The Novotel Edinburgh Park is an excellent addition to our travel portfolio, complementing our five-star hotel the Oryx Rotana in Doha and Sheraton Skyline Hotel Heathrow.”

business > oil&gas

“Demand for OPEC’s crude will rise as the drop in oil prices below $100 a barrel continues to hinder shale production. The coming period will witness an improvement in prices but they will not reach $100 which signals an improvement in demand for OPEC’s oil.”

NASSER KHALIL AL JAIDAH, CEO, QATAR PETROLEUM INTERNATIONAL, winner of the Lifetime Achievement Award for the Advancement of the Qatar Energy Industry at The Abdullah Bin Hamad Al-Attiyah International Energy Awards with HE Abdullah bin Hamad Al Attiyah and Saad Sherida Al-Kaabi, CEO of QP.

TOP 10 countries with proven oil reserves

QP SEEKS BIDS TO OPERATE AL SHAHEEN

IRAQ TO GET IRAN GAS

Iran will start exporting natural gas supplies to Iraq before the end of the current Iranian year (ends March 19, 2016), says senior energy official according to Islamic Republic News Agency (IRNA).

“E

xport of Iran’s gas to Iraq will happen by transferring 5-7 million cubic meters per day (MCMD),” says Minister Hamid Reza Araqi, Managing Director of National Iranian Gas Company. He says that gas exports to Iraq will increase in the next two years after Iran starts transferring supplies to the neighbouring country via the two pipelines to Baghdad and Basra.

Iran has agreed to eventually export 25 MCMD of gas to Iraq. The 270-kilometer pipeline stretches from the village of Charmaleh, located in Iran’s western province of Kermanshah, to the town of Naft Shahr on the border with Iraq.The pipeline, which is estimated to earn Iran $3.7 billion (QR13.47 billion) a year in revenues, will be fed by the massive offshore South Pars gas field in southern Iran.

24 > QATAR TODAY > JUNE 2015

Qatar Petroleum (QP) is soliciting bids to operate the offshore Al Shaheen field, according to media reports.

QP is inviting international companies to bid on operation and development of the field starting in 2017 when the existing agreement with Maersk Oil expires. Maersk also is invited to bid for the ongoing work.

Al Shaheen is

80

km offshore and produces about

300,000

barrels of oil per day, the reports add.

oil & gas > viewpoint

“Iran needs more investments in oil and gas”

Even with hopes of clinching a deal over its nuclear programme with Western powers this month-end, it will take time for Iran's oil supplies to affect the world's oil market.

By V L Srinivasan

“There has been a decline in oil production and we estimate that investments in oil upstream will go down this year by 20% which is more than $100 billion (QR364 billion), in the given market conditions. This will be mainly in the U.S., Canada and Brazil.”

D

r Fatih Birol, Chief Economist and Executive Directorelect of the Vienna-based International Energy Agency (IEA), who was in Doha to attend the third edition of The Abdullah Bin Hamad Al Attiyah International Energy Awards last month, says that there will be some oil floating and an increase in the existing oil fields in Iran assuming that the much-hyped deal on Iran’s nuclear programme is reached at the end of this month.

“Due to global economic sanctions, the technology was not updated all these years and there is a need for investment flow in Iran’s oil and gas sector for expansion and also to access the latest technology, particularly from the US. This will take at

26 > QATAR TODAY > JUNE 2015

DR FATIH BIROL Chief Economist and Executive Director-elect International Energy Agency

least three to five years and will not happen immediately,” Dr Birol says.

Iran, which is the fifth-largest producer among the Organisation of Petroleum Exporting Countries, needs at least $200 billion (QR728 billion) of investments in its oil and gas industry including $70 billion (QR254.8 billion) for its petrochemicals sector.

Iran’s Oil Minister Bijan Namdar Zanganeh exudes confidence that his country will step up production within 10 days once the economic sanctions are lifted after reaching the deal with respect to its nuclear programme.

“Iran has produced 2.78 million barrels per day (MBD) in April and this would reach 3.8 MBD by the end of this year and 4.8 MBD by June 2016,” Zanganeh

Iran's Current & Projected Electricity Generation, 2012-2030 Volume

2012

2015

2020

2025

2030

Billion kWh

355

447

657

965

1418

Mtoe

30.27

38.11

56.00

82.28

120.91

mbd

0.61

0.77

1.12

1.65

2.43

Source: IEA World Energy Outlook 2012; BP Statistical Review of World Energy, June 2014; US Energy Information Administration, Iran's Energy Data

adds. Iran's peak production stood at 6 MBD before the sanctions were imposed decades ago.

Lower investments Birol further says that Iran’s oil may not reach the markets in the next couple of years as the oil and gas firms across the world are estimated to cut their investments by as much as $100 billion (QR374 billion) in 2015.

“There has been a decline in oil production and we estimate investments in oil upstream will go down this year by 20% which is more than $100 billion (QR364 billion), in the given market conditions. This will be mainly in the U.S., Canada and Brazil,” Dr Birol adds.

These companies are also concerned about investing money due to the simmering geopolitical tensions, especially in the Middle East and Ukraine.

The economic crisis in Europe is another reason for the investors to be wary of reconsidering their decision to park their money in troubled regions.

Early this year, the three global oil majors – Schlumberger, Halliburton and Baker Hughes – reported that spending by their customers dropped by 25%-30% in the U.S. compared with 10%-15% in other parts of the world. These companies also reported a drop of 687, or 43%, in the

number of rigs drilling for shale oil in the US from October 2014 to March 2015.

No Impact of deal United Nations Industrial Development Organisation (UNIDO) technical expert Dr Mamdouh G Salameh feels that the nuclear deal will not enable Iran to flood the oil market with oil. “The decline in Iran’s oil exports from 1.81 MBD in 2012 to only 1 MBD in 2014 was not solely due to tighter sanctions but mainly due to the fastdepleting old oilfields whose reservoirs were damaged in the 1970s when Iran was producing 6 MBD during the rule of former Shah Mohammad Reza Pahlavi. Since then Iran has never had the chance to repair its damaged oil industry, what with the war with Iraq from 1980-1988 followed by stringent sanctions because of its nuclear programme,” he says.

Further, he points out that Iran used the equivalent of 610,000 barrels per day of oil and natural gas in 2012 to generate electricity. By 2015, Iran will need to use some 770,000 barrels per day of oil and gas for electricity generation (see table).

“Nuclear power will enable Iran to replace at least 93% of the oil and gas used in electricity generation in 2020, thus adding around 1 MBD to its oil and gas exports and earning an extra $36 billion (QR131.04 billion),” Dr Salameh adds

“Iran has produced 2.78 million barrels per day (MBD) in April and this would reach 3.8 MBD by end of this year and 4.8 MBD by June 2016.”

BIJAN NAMDAR ZANGANEH Minister of Oil Iran

“Generating nuclear power will enable Iran to replace at least 93% of the oil and gas used in electricity generation in 2020, thus adding around 1 MBD to its oil and gas exports and earning an extra $36 billion (QR131.04 billion).”

DR MAMDOUH G SALAMEH Technical Expert UNIDO QATAR TODAY > JUNE 2015 > 27

development > listening post

THE CSR TRENDSETTER

28 > QATAR TODAY > JUNE 2015

IN A FRANK AND ENGROSSING CHAT, DANA HAIDEN DISCUSSES ALTERING THE UNDERSTANDING OF CSR IN QATAR, ITS CONSTANTLY EVOLVING NATURE AND HER OWN JOURNEY IN TRYING TO FIND HER FEET IN THIS EXCITING MANAGEMENT SPECIALTY.

O

BY AYSWARYA MURTHY

ne of the great joys of being a journalist is our privileged interaction with passionate people from all segments of the society. By the very nature of our work, we have direct access to those who are driving change and forging new paths. Most of it is almost routine. But, once in a while, we meet people who stand out and outshine this mighty company. Dana Haiden is one of those memorable ones.

Instantly likable and articulate, Haiden's candor is a rarity among executives at her level and she makes for an engaging conversationalist - confident, honest and knowledgeable, pretty much the holy trifecta when it comes to interviewees.

Surprisingly for someone who is Head of Corporate Social Responsibility at a major multinational like Vodafone, Haiden has kept herself (and her work) relatively under the radar. But that was before she was named among the 100 Most Talented

CSR Leaders by the World CSR Congress earlier this year. She was recognised for her role in actively promoting strategic CSR among her colleagues in Qatar. "We have worked closely with the congress over the last four years to run workshops here and figure out the best way to get the message across to all practitioners," she says. One such effort is the CSR Majlis, an informal quarterly meeting of national CSR managers, structured around different themes, providing a much-needed push in the right direction for CSR education in Qatar. Because Haiden believes, and it is hard to disagree, that the understanding of CSR is in the very initial stages in the Middle East, with Dubai, Abu Dhabi and Oman being the notable exceptions. While CSR as a management discipline has come into the mainstream globally, it is still very much under-construction and often misunderstood. To me, it is a most fascinating subject, a precarious balancing act between public image, profits and QATAR TODAY > JUNE 2015 > 29

development > listening post

“It's possible for every company in Qatar to run a successful and profitable CSR strategy.

But it's not always easy, which is why companies shy away from it.

Organisations can do a lot more by doing the right thing.�

DANA HAIDEN Head of Corporate Responsibility Vodafone

positive change in the community. Many times even multi-billion dollar companies can, and do, get it wrong."Yes, there is such a thing as bad CSR," Haiden says. "When you use it purely as a marketing and PR tool, for example. "Because it's not about how much you spend but where and how you spend it, equal parts strategically and creatively. It's instinctual, it's organic and the very best CSR is often indistinguishable from the company's core operations.

Haiden's tryst with the subject happened during her time as a business major in Carnegie Mellon University in Qatar. "My interest in CSR started in my sophomore year through a class that I took with Professor George White. A big segment of the class was about organisations with purpose and this intrigued me. After that class, I took a lot of courses with Professor White because that is his area of expertise.

I fell in love with the concept and I began to involve myself on campus with community development activities as part of the CMU-Q student government (Student Majlis)," she remembers. "Professor White invested a lot of time in me as a person, developing my interest in social entrepreneurship and purpose-based organisations. Every semester I would ask him if we offered a class on those topics.

At one point I had taken all of the classes available and he felt bad because he knew I wanted to learn more so he became my mentor. Outside of class, he would send me articles and books related to the topic and we would discuss them at length." However, when she graduated in 2009 she found herself drawn to a different path, one that serendipitously would lead her back home.

Redefining CSR "My first career role revolved around public relations and events at Qatargas.

When I started work (within two weeks of graduating), my intention was to grow into a marketing role in the oil and gas sector," she says. She was drawn to the glamorous idea of selling LNG to the world and being part of an industry in which her father has spent his career. "Qatargas told me I was too young to do it then and they'd develop me. But within six months, I was fighting to create a CSR role for myself," she smiles. "In the PR department I was dealing with a lot of the community engagement activities, charitable donation requests, etc. I knew

30 > QATAR TODAY > JUNE 2015

that I wanted to get more directly involved.

There wasn't a dedicated CSR department at Qatargas at that time and I was given that additional portfolio."

But nothing she learned prepared her for CSR in the real world. "I understood the basic principles of how a company should impact the society while doing business but still had to learn how to apply it in a real world environment." Despite that, Haiden really believed, in a way only possible by a fresh-faced idealist, that she could change the way how CSR was done in Qatargas. Over six months, she built their CSR and social investment policy from scratch, which governed the resources being spent on donations and sponsorships and the categories and causes they focused on. "We never used to look at how sometimes a major portion of the donations we'd give for a charity event would go towards the operating costs and very little for the cause itself. We couldn't control these details before. It was really exciting work and that's when I really got hooked into the space."

Though initially her focus was on charity and philanthropy, she soon found herself wanting to explore the sustainability element of CSR. "Social investment, along with green initiatives, is a big puller but it's a lazy way for companies to engage in CSR. Don't give someone a fish, teach them to fish. Otherwise there will continue to be segments that are dependent on charity over a long time. That's my problem with philanthropy," she says. Back in Qatargas, Haiden turned her gaze inwards, looking into the various departments and their operations of which she had gotten to know over time, and trying to fix them or make them more efficient by instituting a system of sustainability reporting.

"Initially when I pitched the idea there was a lot of resistance. People were worried this would 'expose' their existing policies regarding HR or environment. But that was not the idea. It was about identifying and filling the gaps towards becoming a better corporate citizen. I am happy to see that today Qatargas are the biggest supporters of sustainability reporting."

More than four years ago and almost immediately after publishing their first report, Haiden left to take up her current role in Vodafone Qatar, a profile that came with a broader scope and bigger challenges.

Inside Vodafone

At Vodafone, Haiden heads several of their current CSR initiatives. The World of Difference programme funds social entrepreneurs and implements local charitable projects. The second is their online child safety programme targeted at parents, helping them connect with their kids and bridge their disparate understanding of the tech world while also protecting them. And the third initiative focuses on making technology accessible to people with disabilities. In association with Mada, they conduct workshops to help people take full advantage of the disability-friendly features on their phones and also help those who come into their stores in choosing an optimal model according to their impairment, with discounts on handsets and plans.

These initiatives are not overtly publicised. Haiden says it's tricky talking to the public about your CSR work. There is a fine line. Cross it and your company starts looking bad. "At Vodafone we try to be loud when talking about CSR itself (like the CSR Majlis) because things have to change in this area. But our tone is different when talking about our other initiatives, which serve as much as a purpose for us than they do for the society. It would seem disingenuous. An example is our child safety programme.

Of course there is a need for this conversation and we are happy to lead it but we also want to be the provider of choice when parents are buying their kids their first mobile phone. In the long-term we want to build that trust."

"I wanted to interact with the community, run campaigns and see changes happen.

Vodafone was a good place for that as CSR is a strong brand activity for them," she says.

In certain sectors, CSR can be a natural extension of business. At one extreme is the education sector, for example. "Qatar Foundation is an example. Their business nature itself is pure CSR, though it is not seen that way." While telecom, with its direct link to the community, provides a lot of interesting CSR avenues to discover, it would also take "a lot of business case arguments to support whatever we plan to do. The more commercial the company is the harder it gets to prove the case of CSR," she says. So in some ways CSR at Vodafone is simpler when compared to that at Qatargas – when you consider the technical aspects of environmental policy or human rights issue, for example. But the role was also a lot more public, the market was fast-moving and the work demanded more than a dash of inventiveness in trying to reconcile the business side with the duties of a good corporate citizen.

That CSR sweet spot Anyone can throw money at a problem but how can you solve society's problem in a way that makes commercial sense? It's a contentious topic, even among her peers globally. Should CSR be viewed through an ROI-tinted lens? Does seeking profit from these activities defeat its purpose? There is

no ambiguity in Haiden's CSR philosophy.

"What we have to understand is that the CSR function is not about making the company look good. It's not about slapping your logo everywhere so that people love your brand. Brand building is important but to remain relevant you need to contribute to what matters more - profit. Why is that a bad thing?" she asks hotly. "I am serving my own objectives while also meeting the needs of those of the people I am trying to help out. And for me to argue a case with my executive team, I have to show that this is profitable. It can't be sustainable otherwise.

It's a hot topic of course, and is a point of debate in all CSR conferences I go to. " In the end it all comes down to implementation. "It's possible for every company in Qatar to run a successful and profitable CSR strategy. But it's not easy, which is why companies shy away from it or take the usual route. In Qatar, whole sectors sometimes lack the understanding of how they can do a lot more by doing the right thing." Haiden says that after she joined Vodafone, she realised the power of using what you know and your area of expertise to do good. This is closely linked to her earlier point. "That's one of the things I want to see change in Qatar. Companies have to try and find that sweet spot in which to invest their CSR efforts and money. If your CSR strategy involves your core business, ROI won't be a problem at all. That's my message to every CSR practitioner in the country," she says QATAR TODAY > JUNE 2015 > 31

affairs > arab snippets

A L L T H E K I N GS’ M E N

From L to R: Secretary General of the Gulf Cooperation Council for the Arab States of the Gulf, Abdul Latif bin Rashid Al Zayani; Kuwaiti Emir Sheikh Sabah Al Ahmed Al Sabah; Qatar's Emir His Highness Sheikh Tamim bin Hamad Al Thani; Representative of Sultan Qaboos bin Said of the Sultanate of Oman, Sayyid Shihab bin Tariq Al Said; French President Francois Hollande; King Salman of Saudi Arabia; Bahraini King Hamad bin Isa Al Khalifa; and Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai pose for a group photo before the opening of the Gulf Cooperation Council summit in Riyadh on May 5.

AFP PHOTO / POOL / CHRISTOPHE ENA 32 > QATAR TODAY > JUNE 2015

QATAR TODAY > JUNE 2015 > 33

affairs > viewpoint

J-BOG will reduce GHG emissions Extensive investments in gas recovery technology look set to reduce Qatar’s carbon footprint, with newly opened facilities aiming at boosting production and earnings whilst minimising wastage.

D

escribed as one of the largest environmental protection developments in the world, the Jetty Boil-Off Gas Recovery Project (J-BOG) was inaugurated last month despite starting operations at the end of last year.

The QR3.64 billion ($1 billion) facility at Ras Laffan Industrial City captures gas which would otherwise be lost in the process of loading liquefied natural gas (LNG) tankers. The Ras Laffan terminal, operated by Qatargas, has the capacity to load six LNG ships at the same time, making it the world’s largest LNG export terminal.

During the process, it is estimated that 1% of gas is lost, or boiled off, during the loading process due to the chilled liquid gas being pumped into the warmer tanks of the LNG carriers. In most cases, there is no mechanism to collect this low-pressure gas and it has to be flared or burnt off.

The J-BOG facility will help reduce Qatar’s greenhouse gas (GHG) emissions by up to 1.6 million tonnes annually, capturing

34 > QATAR TODAY > JUNE 2015

90% of the gas that would otherwise be lost and helping to lower the country’s carbon production and release levels.

The facility, which has recovered gas from 500 vessels loaded at the terminal since it began operations, counts Qatar Petroleum, ExxonMobil, Total, ConocoPhillips and Shell among its major stakeholders. During the launch ceremony, Saad Sherida Al Kaabi, president and CEO of Qatar Petroleum and chairman of Qatargas, said J-BOG is the largest and most comprehensive of the group’s initiatives to exploit the country’s resources and protect the environment. “The J-BOG Project demonstrates the commitment of Qatar to balance industrial development with care for the environment,” he said.

Earnings potential The project represents a significant investment in terms of its contribution to the economy due to the fact that the recovered gas will be reprocessed so it can either be exported as LNG or used

“The QR3.64 billion ($1 billion) facility at Ras Laffan Industrial City captures gas which would otherwise be lost in the process of loading LNG tankers. The Ras Laffan terminal, operated by Qatargas, has the capacity to load six LNG ships at the same time, making it the world’s largest LNG export terminal.”

as gas fuel.

Working at its full capacity, the unit can recover around 2.8 million cubic metres of natural gas per day, giving an annualised total of 600,000 tonnes of LNG, a considerable addition to Qatar’s LNG output of 77 million tonnes last year. While lower gas prices may mute the returns from the JBOG plant in the shorter term, commercial gains from the project will improve if energy prices rise.

Declining energy prices will inevitably impact Qatar, as will the increasingly competitive nature of the LNG global market, given Qatar's position as the world’s largest LNG exporter. Yet Qatar is well equipped to deal with such challenges, given the size of its reserves, the long-term commitment of its international and local partners, and its financial reserves.

QAFAC boosts output Another project aimed at reducing emissions and adding value to production processes was announced in February.

Qatar Fuels Additives (QAFAC), a joint venture between Industries Qatar and OPIC Middle East, developed the QR145.5 million ($40 million) carbon dioxide recovery unit at its Mesaieed Industrial City site. The plant has the capacity to recover 500 tonnes of carbon dioxide daily, with the captured gas to be turned into methanol.

Speaking at the launch of the facility in February, QAFAC CEO Nasser Jeham Al Kuwari said initial results of the project had shown an improvement in both output and earnings.

“After conducting a thorough feasibility study to examine the technical and economical benefits of the project, a cost analysis showed the project has definitely helped increase our production and profit,” he said. The recovery unit is expected to boost QAFAC’s methanol output by around 90,000 tonnes annually, adding to the roughly 1m tonnes the company produced through additional investments by the end of last year

BY OLIVER CORNOCK The author is the Regional Editor of Oxford Business Group.

QATAR TODAY > JUNE 2015 > 35

affairs > viewpoint

Kurd’s role in Iran’s O&G sector

There can be little doubt that interest among international firms in developing Iran’s hydrocarbon resources post sanctions is enormous, and many of the smaller independent companies have already been making “meetand-greet” visits to Tehran ahead of the June deadline for a final agreement on the nuclear talks.

36 > QATAR TODAY > JUNE 2015

A

re-opening of the country’s energy sector would likely lead to a bonanza for oil companies not seen since the opening of Iraq in the post-Saddam Hussein era. The difference would be that the Islamic Republic in many ways is a safer bet than Iraq given its politically stable environment and more diversified economy.

Iran, which denies seeking nuclear weapons, has said sanctions must be rescinded as soon as any final deal is signed. The United States wants a gradual lifting of restrictions tied to verified compliance by Iran with its end of the deal, a big sticking point left unresolved so far. The compromise between these two positions may result in a somewhat vague definition, leaving interpretation in the eye of the beholder.

Risks and challenges To be sure, the risks and challenges associated with becoming involved in Iran’s energy sector would still be large – but likely to offer sufficient upside to attract international interest. In some way, Iran’s new contract model resembles the

“Iran needs huge investments and the potential for rewards is huge, especially in the longer term. There is, for example, a lot of stranded and non-associated gas in Iran, so there is a lot of potential for gas projects in the form of LNG and pipelines.”

MOHSEN SHOAR Managing Director Continental Energy DMCC

one that has been successfully applied by the Kurdish Regional Government (KRG) in neighbouring Iraq.

“Under the Iranian Constitution, ownership of the natural resources belongs to the ‘nation’ and cannot therefore be transferred. However, the International Petroleum Contact (IPC) will include provisions allowing transfer of ownership of hydrocarbons to the foreign partner at defined delivery points. This is similar to the tried and tested production sharing agreements used in the UAE and Iraqi Kurdistan,” according to Clyde & Co. Although the KRG has remained locked in a dispute with the Iraqi government for most of the last decade over the development, sale and export of its resources, it was eventually successful in attracting some of the biggest names in world oil to the semi-autonomous region, signing oil production sharing agreements with ExxonMobil, Chevron, Gazprom and Total since late 2011.

The deals with the oil majors, however, followed the signing of dozens of production sharing deals with smaller independent companies such as DNO, Oil Search Limited and Hunt Oil who stole first-mover advantage early after the US-led invasion in 2003 despite repeated threats that their contracts were illegal in the eyes of the Baghdad government.

While the environment in the KRG areas isn’t comparable to that of Iran, independent oil companies with a higher tolerance for risk may take a similar approach to getting involved early in a postsanction Islamic Republic when the legal environment may still be unclear. Initial interest is also likely to be strong among

companies from energy-hungry nations east of Iran, notably China and India.

“I would expect a strong Chinese and Indian interest,” says Mohsen Shoar, Managing Director at the Dubai-based Continental Energy DMCC and an expert on Iranian energy.

He says that ultimately energy companies across the board are likely to seek involvement. “Iran needs huge investments and the potential for rewards is huge, especially in the longer term. There is, for example, a lot of stranded and nonassociated gas in Iran, so there is a lot of potential for gas projects in the form of LNG and pipelines,” Shoar adds.

Final round of nuclear talks For now, all eyes remain on the final round of negotiations between the P5+1 and Tehran, which are due to be concluded

by June 30. Iran’s oil ministry has announced that it plans to unveil the IPC at a conference in London in September, which was originally due to be held in February but was postponed in light of the negotiations extension.

“Today, I can say with confidence that most major international oil corporations are aware of the new format of Iran’s oil contracts,” Mehdi Hosseini, an adviser to Oil Minister Zanganeh and a key engineer behind the country’s buyback deals, told Iran’s Press TV on April 4. “We have been engaged in negotiations with international corporations over the past year and they have welcomed Iran’s new format of oil contracts. They are waiting for the sanctions to be removed as soon as possible so that they can return to Iran’s oil sector projects.”

BY SEAN EVERS Managing Partner Gulf Intelligence

ABOUT GULF INTELLIGENCE Gulf Intelligence facilitates knowledge exchange and networking between stakeholders in the Energy, Healthcare and Banking & Finance sectors across the Gulf region. The strategic communications firm, headquartered in Dubai and operating in Qatar and Oman, prepares and positions clients as Thought Leaders in their industry utilising a range of dynamic platforms that ensure a direct and tangible engagement with stakeholders. www.thegulfintelligence.com QATAR TODAY > JUNE 2015 > 37

affairs > world view

A SEA OF NEED

Boats of Acehnese fishermen (in front) tow a boat of Rohingya migrants in their boat off the coast near the city of Geulumpang in Indonesia's East Aceh district of Aceh province before being rescued on May 20.

Hundreds of starving people were rescued off Indonesia as Myanmar for the first time offered to help ease a regional migrant crisis blamed in part on its treatment of the ethnic Rohingya minority.

AFP PHOTO / JANUAR 38 > QATAR TODAY > JUNE 2015

QATAR TODAY > JUNE 2015 > 39

QATAR

TODAY TOP

2014

QATAR TODAY TOP 10 IS BACK

40 > QATAR TODAY > JUNE 2015

The Qatar Today TOP 10 TOP 10 RANKINGS FOR THE PERIOD STARTING YEAR 2010 AND ENDING 2014

was a dramatic month for Qatar Exchange. The stocks plunged during the last week of May after MSCI index adjustments and news of arrests and criminal probes at world football body FIFA. Other markets in the Middle East were also mostly negative. FIFA President Sepp Blatter secured re-election for a fifth term, partially easing concern that Doha might conceivably lose the tournament hosting rights. But just as we go to press, the news of Blatter’s resignation has Qatar’s stock exchange spluttering on the news, dropping 1.6%, with renewed concern that the country may lose the right to host the 2022 World Cup. Through a tumultuous month, and the year 2015 heading in the same direction with no equilibrium seen in the near future, Qatar Today boldly goes back to its yearly process of reflecting on the achievements of the top performers of 2014 at the Qatar Exchange. The annual ranking process, the Qatar Today Top 10, recognizes those companies that have made a mark in their investors’ portfolio by showing resilience, immense growth and returns. This year we also honour the winners through the Qatar Today Business Excellence Awards.

ALSHALL Economic Services, General Manager, Camille Raphael, the brains behind the formulation and the process of calculation of the Qatar Today Top 10, feels that 2014 has proved to be an excellent year for the Qatar Exchange.

He says, “In May 2014, the QE was effectively upgraded by the global index compiler MSCI to emerging market status from frontier market, marking a new era. Other initiatives leading up to the upgrade in the same year were the law allowing up to 49% ownership of non-Qatari investors in listed companies and other liquidity-enhancing measures taken by QE.” The Qatar stock market gains were higher than its regional peers, ignoring the regional negative sentiment caused by declining oil prices, registering a year-onyear increase in 2014 of 18.4% and outperforming most world stock exchanges, although some of higher gains were lost in the last months of the year.

According to Raphael, the calculation methodology chosen and used in the previous years was maintained for this year too. He says, “We just looked at historical performance from an investor’s perspective and we tried to answer a simple logic: which company would have made an investor happier from a financial performance perspective had the investor bought one share of that company at the beginning of 2010 and sold it at the end of 2014, along with any additional shares received free of charge during this period.”

He adds, “To the share market price appreciation, we added the amount of cash that the company distributed to its shareholders from its net profits over the period under study, as well as the attractiveness of the company’s shares based on total revenue and net profit growth, with the rationale that the value of a company (hence its share price) could potentially increase if the company’s sales revenues and net profits keep increasing extraordinarily year over year.”

The methodology also includes other measures of profitability such as return on equity, which shows the size of the profits of a company in relation to the amount the shareholders have invested in it, and return on assets, which

The Top 10 rankings of the companies listed on the Qatar Exchange since the beginning of 2010 were calculated based on seven financial ratios in line with their respective weighted average criteria.

01

Widam Food Company Consumer Services

02

Medicare Group Health Care

03

Masraf Al Rayan Financial

04

Gulf International Services Consumer Services

05

Islamic Holding Group Financial

06

Al Meera Consumer Goods Company Consumer Services

07

Industries Qatar Industrial

08

Qatar Fuel (Woqod) Utilities

09

Barwa Real Estate Co. Consumer Services

10

National Leasing Holding Co. Consumer Services

AS

Q

In

Weighted Average Criteria: Price Growth 20%, Dividend Yield 20%, Liquidity 20%, Net Profit Growth 10%, Total Revenue Growth 10%, Return on Equity 10%, and Return on Assets 10%.

QATAR TODAY > JUNE 2015 > 41

QATAR

TODAY TOP

2014

measures how effectively a company’s assets are put to use.

Lastly, liquidity of the stock expressed in terms of average traded volume and number of transactions was also taken into consideration, given that if someone would like to exit the investment, he or she should be able to do so easily.

“For calculations of price per share, cash distributions, net profit and total revenue growth, we looked at total shares held at the end of 2014 on the basis of the purchase of one share in that company at the beginning of 2010, and the computations were made on a per share basis. This was done to offset any ownership dilution from corporate actions such as mergers and acquisitions, or capital increases,” says Raphael, “It should be noted that from time to time, Qatar listed companies distribute cash to their shareholders during the year, depending on their previous year’s performance (what is referred to as cash dividends), as well as free share dividends.”

The Qatar Today Top 10 methodology as formulated

by ALSHALL also measures all the financial and trading performance as an average of the five-year period to smooth-out extraordinary one-time performances, and assess the listed companies during a period of extended recent history.

“We have thus calculated the overall top 10 rankings of the companies listed on Qatar Exchange since the beginning of 2010 based on a selection of financial measurements, which may not be the only ones used to assess the attractiveness of a company. It is important to diversify the financial measurements to be used in conjunction with statement analysis to achieve a more objective approach in determining a company’s rank in the market as a whole,” explains Raphael. “Relevant to an investor’s point of view, the overall ranking of companies listed on the stock market was based on seven financial indicators in line with their respective weighted average criteria. The weights used are 20% each for price growth, dividend yield and liquidity, while net profit growth, total revenue growth, return on equity and return on assets are weighted 10% each.”

It is important to note that the rankings apply only to 40 companies out of the 43 currently listed on the Qatar Exchange because only companies that have been listed on the Qatar Exchange since the beginning of 2009 and have at least five years of public disclosure on record were selected.

Source:

Audited Financial Statements for the past five years (2010-2014), Qatar Exchange and ALSHALL Calculations.

All the following calculations are carefully reviewed based on financial analyses and statistical data. ALSHALL cannot, however, be held liable for any errors or omissions appearing in the report nor does this constitute an offer or recommendation to invest in any of the listed securities.

42 > QATAR TODAY > JUNE 2015

“We have thus calculated the overall top 10 rankings of the companies listed on Qatar Exchange since the beginning of 2010 based on a selection of financial measurements, which may not be the only ones used to assess the attractiveness of a company.”

Camille Raphael

General Manager ALSHALL Economic Services

“For this year, Al Meera Consumer Goods Company was included for the first time in our computations as it satisfied the five-years criteria for selection,” he says.

The Winners This year’s top performers came from various industries.

Seven of last year’s top 10 companies were included in this year’s rankings. Widam Food Company, maintained the top spot like last year, and took over Medicare Group, which ranked third top performer during 2013, took the second spot during 2014. Two companies came from the financial sector, namely Masraf Al Rayan and Islamic Holding Group, while another five companies, Widam Food Company, National Leasing Holding Co., Gulf International Services, Barwa Real Estate Co. and Al Meera Consumer Goods Co. came from the consumer services sector. One company, Industries Qatar, came from the industrial sector while Qatar Fuel (Woqod) came from the utilities sector. Finally, Medicare Group, which came from the healthcare sector and ranked second place this year, was included in the Top 10 for the third time since the ranking process was started.

Top 10 Companies in Terms of Price Growth

Top 10 Companies in Terms of Dividend Yield

TOP 10 RANKINGS FOR THE PERIOD STARTING YEAR 2010 AND ENDING 2014

TOP 10 RANKINGS FOR THE PERIOD STARTING YEAR 2010 AND ENDING 2014

Historical data of year-end share closing prices and share dividend distributions for the past five years were used to assess each company’s ranking in terms of price growth (or average yearly portfolio value increase based on 1 share purchased in each company at the beginning of 2010).

Medicare Group took the number one spot in this category, moving up from second in last year’s ranking in terms of price growth, followed by Gulf International Services.

One major criterion in our methodology for determining a company’s overall ranking is the calculation of its dividend yield, which demonstrates how much a company pays out dividends each year in relation to its average market capitalization. Doha Bank achieved the highest rank in terms of dividend yield. It is also evident that five of the top 10 companies in terms of dividend yield came from the Financial Sector, one from the Healthcare Sector, while the rest came from the Consumer Services sector.

70.2%

Medicare Group 01 Health Care

42.4%

Islamic Holding 03 Group Financial

38.5%

Dlala Brokerage &

05 Investment Holding Company

Financial

30.0%

43.4%

Gulf International 02 Services Consumer Services

39.4%

Doha Bank 01 Financial

7.8%

8.0%

Masraf Al Rayan 02 Financial

7.3%

Al Meera Consumer 04 Goods Company Consumer Services

Widam Food 03 Company Consumer Services

36.7%

6.8%

6.7%

Widam Food 06 Company Consumer Services

Qatar International 05 Islamic Bank Financial

Al Meera Consumer 06 Goods Company Consumer Services

28.8%

6.5%

6.2%

Qatar Fuel (Woqod) 07 Utilities

Masraf Al Rayan 08 Consumer Services

27.9%

26.2%

Gulf Warehousing 09 Company Industrial

8.1%

Qatari Investors 10 Group Industrial Price Growth = Average Growth of Share Closing Price each year multiplied by the Total Shares Held on the basis of 1 Share Purchased at the beginning of 2010 plus additional shares distributed in dividends over the 2010-2014 period

The Commercial 07 Bank of Qatar Financial

Salam International 04 Investment Limited Consumer Services

Medicare Group 08 Health Care

6.1%

5.7%

Mannai 09 Corporation Consumer Services

Al Khalij 10 Commercial Bank Industrial Average Dividend Yield = Average of the Yearly Cash Dividends over the Average Market Capitalization (2010-2014)

QATAR TODAY > JUNE 2015 > 43

QATAR

TODAY TOP

2014

Top 10 Companies in Terms of Net Profit Growth

Top 10 Companies in Terms of Total Revenue Growth

TOP 10 RANKINGS FOR THE PERIOD STARTING YEAR 2010 AND ENDING 2014 Net profit growth has been calculated on a cumulative shares held basis to reflect whether the shareholder’s original claim over each company’s net profit has increased or decreased over the five-years period, and by how much on average. This has been done to offset any possible dilution resulting from corporate action. Medicare Group still ranks the highest, achieving a remarkable 1,054% percent average increase in net profit per share held.

01

02

03

Medicare Group Health Care

1053.9%

Gulf Warehousing Company Industrial 98.1% United Development Company Industrial 97.1%

05

Ezdan Real Estate Company Consumer Services 76.2%

06

Al Khalij Commercial Bank Financial 36.8%

08

Total revenue growth is one of the basic criteria in assessing a company’s attractiveness, with the assumption that the higher the total revenue growth, the more the potential for future profits. Total revenues consist of all positive inflows on a company's profit and loss statement and include not only revenue from operations but also other revenues such as income from investment, sale of assets, etc. Qatar General Insurance & Reinsurance Co. significantly led the rankings in this assessment criterion, with cumulative shares held multiplied by revenues per share growing at an average of 45.7%, followed by Gulf Warehousing Co. at 45.3% average RPS growth.

45.7%

40.1%

Ezdan Real Estate 03 Company Consumer Services

09

Qatari Investors Group Industrial 31.4%

10

Islamic Holding Group Financial 31.2%

Aamal Company 05 Consumer Services

Gulf International 06 Services Consumer Services

24.2%

23.1%

20.9%

Qatari Investors 09 Group Industrial

Average Net Profit Growth = Average Yearly Growth of Earnings per Share (EPS) multiplied by the Total Shares Held on the basis of 1 Share Purchased at the beginning of 2010 plus additional shares distributed in dividends over the 2010-2014 period

44 > QATAR TODAY > JUNE 2015

United Development 04 Company Industrial

24.7%

Widam Food 07 Company Consumer Services

31.7%

30.8%

29.0%

Widam Food Company Consumer Services 33.2% Gulf International Services Consumer Services

45.3%

Gulf Warehousing Qatar Gen. Insurance 01 & Reinsurance Company 02 Company Industrial Financial

Qatar Gen. Insurance & Reinsurance Company Financial 218.7%

04

07

TOP 10 RANKINGS FOR THE PERIOD STARTING YEAR 2010 AND ENDING 2014

*Earnings per Share = Net Profit divided by total number of subscribed shares

Medicare Group 08 Health Care

19.1%

Qatar Fuel (Woqod) 10 Utilities Total Revenue Growth = Average Growth of Total Revenue per Share * multiplied by the Total Shares Held on the basis of 1 Share Purchased at the beginning of 2009 plus additional shares distributed in dividends over the 2010-2014 period

Top 10 Companies in Terms of Average Return on Assets (ROA) TOP 10 RANKINGS FOR THE PERIOD STARTING YEAR 2010 AND ENDING 2014 ROA determines the company’s ability to put to use its assets effectively and efficiently, thus earning a good return on them. In this criterion – crucial to asset-intensive companies – Industries Qatar ranked first followed

by Qatar Islamic Insurance Co., which took over Qatar Fuel's (Woqod) second place in last year’s results.

01

02

Industries Qatar Industrial 21.2% Qatar Islamic Insurance Company Financial 18.7% Qatar National Cement Company Industrial 16.4%

04

Qatar Fuel (Woqod) Utilities 15.4%

05

Al Meera Consumer Goods Company Consumer Services 13.2%

06

Qatar Industrial Manufacturing Company Industrial 12.7%

08

TOP 10 RANKINGS FOR THE PERIOD STARTING YEAR 2010 AND ENDING 2014 Return on Equity measures the ability of the company to generate sufficient returns for the capital invested by its shareholders. Qatar Fuel (Woqod) maintained its top position as in last year’s ranking in this category, followed by Qatar Electricity & Water Co.

41.9%

Qatar Fuel 01 (WOQOD) Utilities

03

07

Top 10 Companies in Terms of Average Return on Equity (ROE)

Widam Food Company Consumer Services 12.3% Qatar Gen. Insurance & Reinsurance Company Financial 11.8%

09

Gulf International Services Consumer Services 11.5%

10

Al Khaleej Takaful Group Financial 10.5%

26.9%

Al Meera Consumer 03 Goods Company Consumer Services

30.8%

Qatar Electricity 02 & Water Company Utilities

26.7%

Industries Qatar 04 Industrial

24.0%

22.8%

Mannai 05 Corporation Consumer Services

Gulf International 06 Services Consumer Services

22.6%

21.1%

Widam Food 07 Company Consumer Services

21.1%

Qatar Islamic 09 Insurance Company Financial

Qatar National Bank 08 Financial

20.1%

United 10 Development Co. Industrial

Average Return on Assets = Yearly Net Profit divided by the Average Yearly Total Assets

Average Return on Equity = Yearly Net Profit divided by the Average Yearly Shareholder Equity

Ranking is determined by taking the arithmetic average ROA for the five-year period from 2010 to 2014

Ranking is determined by taking the arithmetic average ROE for the five-year period from 2010 to 2014

QATAR TODAY > JUNE 2015 > 45

QATAR

TODAY TOP

2014

Top 10 Companies in Terms of Liquidity

Looking forward

TOP 10 RANKINGS FOR THE PERIOD STARTING YEAR 2010 AND ENDING 2014 The measure of liquidity should indicate how easily shares can be purchased or sold on the QE based on average trading volume per year and number of trades per day from 2010 to 2014. Generally speaking, companies with both high daily volumes of traded shares and high number of trades have a better liquidity as compared with thin trading volumes and number of trades.

Based on this assessment methodology, Masraf Al Rayan was the top performer for this criterion, followed by Widam Company which had ranked first last year.

Masraf Al Rayan 01 Financial

Widam Food 02 Company Consumer Services

Islamic Holding 03 Group Financial

Barwa Real 04 Estate Company Consumer Services

Industries Qatar 05 Industrial Qatar Gas 07 Transport Company Limited (Nakilat) Industrial National Leasing 09 Holding Company Consumer Services

Qatari German 06 Company for Medical Devices Health Care Qatar Oman 08 Investment Company Consumer Services Qatari Investors 10 Group Industrial Liquidity = 50% Ranking of Average Daily Transaction plus 50% Ranking of Average Daily Volume per Outstanding Shares (2010-2014)

ALSHALL ECONOMIC SERVICES: ALSHALL Economic Services QSC is a private Qatari shareholding company providing different economic, business and corporate finance advisory services to local and regional institutions. ALSHALL has built its track record and accumulated experience through continuous involvements in the business sectors in Qatar, Kuwait and MENA region during different economic cycles. This directly has strengthened the business consulting services, the core activity of ALSHALL. ALSHALL's services are complemented by outsourcing and alliances with other specialized entities that assist ALSHALL in providing comprehensive services to its clients.

The advisory services encompass business and transaction advisory such as feasibility studies, assistance in strategic planning, business and project valuation, privatization, real estate advisory, economic and equity research, establishing companies, private equity placement, share flotation, debt finance, financial restructuring, restructuring family companies, mergers and acquisitions, and divestitures.

DISCLAIMER: In preparing this article, ALSHALL may not have considered issues relevant to any particular reader. Any use that readers may choose to make of this article is entirely at their own risk and ALSHALL shall have no responsibility whatsoever in relation to any such use. Accordingly, ALSHALL does not owe a duty of care to the readers of this article. Neither ALSHALL, nor affiliated partnerships or bodies corporate, nor the directors, shareholders, managers, partners, employees or agents of any of them, make any representation or provide any warranty, expressed or implied, as to the accuracy, reasonableness or completeness of the information contained in this article or of any other information relating to this article whether written, oral or in a visual or electronic form (including, without limitation, in a magnetic or digital form) transmitted or made available to the readers.

ALSHALL expressly disclaims any and all liability for, or based on or relating to any such information, including, without limitation, any information contained in, or errors in or omissions from, the article or based on or relating to any reader's use of the document. All analyses appearing in this article do not in any way constitute an offer or recommendation to invest in any of the listed securities. ALSHALL hereby disclaims any responsibility of any direct or indirect claim resulting from using this article

DELOITTE The numerical accuracy of the calculations have been verified by Deloitte.

46 > QATAR TODAY > JUNE 2015

R

obin Butteriss and Milhan Baig of Deloitte (Qatar) talk about the Qatar Exchange Venture Market that is in the process of being launched by Qatar Exchange.

The Small and Medium Enterprise (SME) segment is an integral part of any economy; it stimulates growth, improves diversity and encourages entrepreneurship.

The Qatar Exchange Venture Market (QEVM), which is the stock exchange for SMEs, is a strategic government initiative which, once launched, should support and enhance SME development in Qatar.

The criteria for a company to list on the QEVM is less onerous than the main market; for example, a share capital of QR2 million is required for the QEVM compared to QR40 million on the main market. However, the process of listing on the QEVM is still a challenging one and requires the company to be equipped for this transformational step in its evolution.

An initial diagnostic review will determine what changes and/or enhancements are needed to meet the requirements as stipulated by the Qatar Exchange and the Qatar Financial Markets Authority (QFMA). Some of the key considerations for readiness include having the right legal structure, an adequate financial track record, a clear view of the company’s outlook with a robust business plan, compliance with QFMA’s corporate governance code, as well as having appropriate management and financial operating processes in place.

Listing on the QEVM requires appointing and working closely with a QFMA-approved listing adviser and valuer, as well as a legal adviser. Whilst, the role of the listing adviser has been clearly defined by the QFMA, the journey to a successful listing requires a strong commitment from the company and its shareholders with close coordination with its advisors.

The process for selecting companies to list on the QEVM and preparing for listing is already underway. Deloitte and other approved listing advisors are currently working closely with companies, the Qatar Exchange and Qatar Development Bank with a unified vision of success for SMEs, the QEVM and, above all, Qatar.

Robin Butteriss Head of Financial Advisory Services | Deloitte (Qatar)

Milhan Baig Director of Financial Advisory Services | Deloitte (Qatar)

The opinions expressed here are the views of the authors and do not necessarily reflect the views and opinions of Deloitte & Touche (M.E.)

Performance of the Qatar Exchange for 2014 Rebased QE Price Index

AL SHALL Index

90,000,000 85,000,000 80,000,000 75,000,000 70,000,000 65,000,000 60,000,000 55,000,000 50,000,000 45,000,000 40,000,000 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0

Jan. 14 Feb. 14 Mar. 14 Apr.14 May 14 Jun. 14 Jul. 14 Aug. 14 Sep. 14 Oct. 14 Nov. 14 Dec. 14 YEAR 2014

The value of traded shares for 2014 amounted to QR199.293 billion. The value of traded shares during 2014 was 166.1% higher than the value of 2013 (QR74.886 billion), and the daily average traded value was QR803.60 million compared to a daily average traded value during 2013 of QR 304.41 million.

Traded Volume by Sector

5,000,000,000 4,000,000,000 3,000,000,000 2,000,000,000 1,000,000,000 0 Year 2013 Consumer Services

Financial

Health Care

Year 2014 Industrial

Telecommunications

Utilities

QATAR TODAY > JUNE 2015 > 47

Volume

erformance indicators measuring the QE showed a positive performance for 2014.

Major indicators such as market value, general index, total trading value, number of deals and total trading volume have increased during the year.

ALSHALL Index (Cap. Weighted / 43 stocks) finished the year at 1,546.26 points on 31/12/14, showing an increase of 9.54% compared to 2013 year end when it closed at 1,411.66 points.

At the end of 2014, the QE Price Index finished at 12,285.78 points, gaining 18.36% of its closing value at the end of 2013 (10,379.59 points), and gaining 47.0% of its value as compared to the end of 2012 (8,358.94 points).

Total volume during 2014 (248 trading days) increased to 4.440 billion shares; this was higher by 129.2% as compared to the total traded volume of shares during 2013 (246 trading days) which was 1.938 billion shares. The daily average of traded shares during 2014 stood at 17.903 million shares compared to a daily average during 2013 of 7.876 million shares. Total number of deals stood at 2.059 million for 2014 compared to the total number of deals during 2013 (0.962 million).

The value of traded shares for 2014 amounted to QR 199.293 billion, which was 166.1% higher than the value for 2013 (QR74.886 billion), and the daily average traded value was QR803.60 million compared to a daily average traded value during 2013 of QR304.41 million. The highest traded volume by sector was for the consumer services sector (40.7%), followed by the financial sector (22.4%), industrial sector (21.4%), telecommunications sector (12.5%), healthcare sector (1.9%) and utilities sector (1.0%).

One new company was listed (Mesaieed Petrochemical Holding Co.) during 2014, bringing the new number of listed companies to 43 in all. Thirty one stocks of the total 43 listed companies advanced and ended at higher prices than in 2013, while 11 stocks declined. Total subscribed shares during 2014 reached 12.021 billion shares; this was higher by 14.6% as compared to the total subscribed shares during 2013 which was 10.491 billion shares. Market capitalisation of the 43 listed companies increased to QR676.79 billion during 2014, an increase of 21.8% compared to 2013 market value which was QR 555.61 billion.

QATAR

TODAY TOP

2014

The Comparative Performance of Selected Stock Markets

T

he year 2014 was characterised by fluctuating performance. The seven Gulf markets led the gains for most of the year since its beginning though they lost most of their gains in its last quarter after oil prices declined. Gains went to the states which benefited most from falling oil prices. In brief, in 2014, nine out of fourteen markets that we are tracking achieved varying gains, while 5 markets registered varying losses, three of which were Gulf markets, with two of them settling at the bottom of the group.

The biggest gains in 2014 belonged to the Chinese market which added about 52.8% to its level at the end of 2013.

Most of its gains came in the later months of the year. The second gainer was the Indian market, which added 29.9%.

The two markets were the largest beneficiaries of falling oil prices. The third gainer was the Qatari market, which increased by 18.4% although losing some of its higher gains in the last months of the year. The Bahraini market came next and added 14.2%, and then Dubai market which added about 12% after it had taken the lead by about 50%. Three major markets achieved medium and weak gains led by the US market which increased by 7.5% due to strong economic performance and the continued quantitative easing program for most of the year. The Japanese market came next by 7.1% due to falling oil prices despite signs of failing economic policy of the Prime Minister. The German market achieved low gains by about 2.7% due to continued concern with the European growth, the Ukrainian crisis problems, and sovereign debts.

The biggest loser was Muscat market which dropped by -7.2%. Oman was the most affected member within the GCC by falling oil prices. Next in losses was the Kuwaiti weighted index which lost about -3.1%. In addition to the British and the French markets, the Saudi market shared the negative zone with the Omani and Kuwaiti markets with losses by -2.4% though it had surpassed them in gains for most part of 2014. The Saudi budget for 2015 was issued lately with SAR 145 billion deficit, influenced by the negative oil market conditions.

In summary, Gulf markets began 2014 with oil prices above $100 per barrel and oil production at its peak, but ended the year with oil prices at about half of that level with pressures to reduce production.

This was reflected in the relaxed performance of the economies of consuming countries, simultaneous with increased panic in GCC markets commensurate with the fall of oil prices. 2015 began as 2014 ended, i.e. continued weakness of oil markets and continued redness of Gulf markets performance.

Accordingly, the performance in the second half of the current year will depend on the final situation of the oil market. If prices hold without significant losses in production, performance should be stable until the end of the year. However, the situation could be worse if weak oil market coincided with uncomfortable geopolitical conditions. On the other hand, it is likely that the performance of consumer states markets would continue to achieve gains under all circumstances. The difference then will be in the volume of these gains and not in their achievement.

Performance of Selected Stock Markets during the month of December 2014 compared to the end of 2013 60%

50%

40%

30%

20%

10%

0%

-10%

-20% SSE Composite (China)

52.8%

BSE Sense (India)

29.9%

Qatar Exchange

18.4%

Bahrain Bourse

14.2%

Dubai Financial Market

12.0% 7.5%

DJI (USA)

7.1%

Nikkei225 (Japan) Abu Dhabi Securities Exchange

5.6%

DAX (Germany)

2.7%

Saudi Stock Exchange

-0.5% -2.4%

CAC40 (France)

-2.7%

FTSE100 (UK)

-3.1%

Kuwait Stock Exchange (Weighted Index)

-7.2% -13.4%%

48 > QATAR TODAY > JUNE 2015

Muscat Securities Market Kuwait Stock Exchange (Price Index)

1

st

WIDAM FOOD COMPANY AVERAGE PRICE GROWTH:

6

LIQUIDITY:

2

RANK

DIVIDEND YIELD:

3

2012 - 2013

NET REVENUE GROWTH:

7

AVERAGE RETURN ON ASSETS:

7

AVERAGE RETURN ON EQUITY:

7

A MEATY VICTORY For the third time in a row, Widam has secured the top spot on our list, backed by sound numbers and forward-thinking strategy. Financial statements disclosed for the year ended December 31, 2014 illustrated its continued and remarkable recovery from just a few years ago when it was at the risk of being nationalised.

T

he statements revealed a net profit of QR62.2 million in 2014 versus QR54.9 million in 2013 and the Earnings per Share amounted to QR3.46 in 2014 compared to QR3.05 in 2013. The board recommended a 25% cash dividend. At the beginning of the year Widam announced a restructuring at the top with the appointment of Abdulrahman Al Khayarin as the General Manager. A UK-educated management graduate, Al Khayarin had previously held senior positions in Qatari Diar. Since then he has been making plenty of public appearances, most recently when he announced that Widam was ready with the preparations for providing the stock of Australian and Arabian sheep that will be sold at a subsidised rate to Qataris, as announced by the Ministry of Economy and Commerce earlier.

Widam said it has imported 60,000 head of live Australian sheep, while a contract with a major company will ensure the supply of 70,000 frozen carcasses of slaughtered Australian sheep, sent by air from Australia on a daily basis.

Widam Food Company also inaugurated a sophisticated meat shop in Al Qutaifiyah area in Doha’s West Bay, as part of the newly launched Al Furjan markets. The outlet was opened by Widam chairman Sheikh Nayif bin Eid Al Thani, accompanied by Al Khayarin, company and municipality officials. This is the fifth of such outlets which is currently selling subsidised Australian sheep meat products and the company plans to expand in the future to include other types of meat. This is a natural extension in the spectrum of Widam's work from importing good qualities of cattle, keeping them in well-equipped barns with quality

ABDULRAHMAN AL KHAYARIN General Manager, Widam

veterinary services, revamping the mechanised abbattoir at Abu Hamour, and following up all the process until the slaughter and preparation process. “The sales outlets and meat shop is the final stage. We are keen to adopt the best practices in the field. Besides expansion of outlets to make them easily accessible for individual consumers, we have introduced a home delivery service, where customers could order their requests by phone and get them in the shortest possible time delivered to their doorstep in our modern fleet of freezer vehicles to guarantee fresh and hygienic products,” explained Al Khayarin.

COMPANY'S PERFORMANCE BASED ON ASSESSMENT CRITERIA: FIVE-YEAR AVERAGE (2010-2014) Price Growth

Dividend Yield

EPS Growth with Dividend

RPS Growth with Dividend

ROE

ROA

37%

8%

33%

24%

23%

12%

QATAR TODAY > JUNE 2015 > 49

QATAR

TODAY TOP

MEDICARE GROUP

2014

2

nd

AVERAGE PRICE GROWTH:

1

LIQUIDITY:

16

DIVIDEND YIELD:

8

RANK

NET REVENUE GROWTH:

8

2013 - 3rd RANK

AVERAGE RETURN ON ASSET:

13

AVERAGE RETURN ON EQUITY:

31

TOWARDS A HEALTHY NATION Established in late 1996, Medicare Group is a Qatari shareholding company listed in Qatar Bourse. It realized in the financial year ending on 31st December 2014 profits estimated at QR53,318,548, and moved three positions forward among the best 10 companies listed in the bourse in 2013 compared to its rating in 2012.

T

his year it went up one more position compared to 2013. The company runs a specialised hospital and outpatient clinics, provides health and medical services and engages projects and companies operating generally in the medical services sector.

Qatar Today met Khalid Mohammed Al Emadi the CEO of Medicare Group and Al-Ahli Hospital to shed more light on the steps that he takes to enable the company to continue this growth. Al Emadi explained the reason why the group was included for the third year in a row in Qatar Today’s Top Ten: “Flexibility in decision making through listening to others, and refining and discussing the information with others before taking a decision. A good decision is always preceded by an idea, which in turn must be carefully analysed to identify its pros and cons before endorsing it in service of the objectives and common good.”

Talking about the challenges, Al Emadi says: “The challenges we face are diverse, of which the most important is the difficulty to recruit medical doctors due to the routine of finalising the formalities, which we do our best to surmount as fast as possible through dedication and continuous follow up. " For any project to succeed the trust of clients must be secured. Al Emadi says: “We consider the increasing frequency of visits to the hospital and the trust the patients have in the services we provide for them as strong motives to maintain and improve the standard of these services with regard to the safety of patients. This trust, has prompted us to expand our premises and services, increase our bed capacity, improve the distribution of the clinics which has enabled us to retrieve nearly 18 additional beds, and open a new wing incorporating 22 beds. Other developments include the dedication of a building within the main building of Al-Ahli Hospital, with specialised and

KHALID MOHAMMED AL EMADI CEO, Medicare Group

comprehensive bone treatment and physical therapy units, as a distinguished center in this spcialication."

It is understood that the true wealth of any successful company is its employees. “We have carefully studied the conditions of our employees, increased their salaries by 18% to 20%, revised salary grades, took care of the psychological aspects related to their work conditions and amended the whole health insurance system for their benefit.”

Among the projects planned in the future are Al Wakrah Hospital, which includes an emergency unit, women’s clinics, a children’s section, an internal diseases and general surgery section, X-Ray section and the pharmacy. Al Emadi adds that among the most outstanding achievements of the hospital is the development of the heart and blood vessels surgery unit. Open heart surgeries were carried out in this unit. “We also set up and opened a fertilisation and sterilisation treatment section.”

COMPANY'S PERFORMANCE BASED ON ASSESSMENT CRITERIA - FIVE YEARS AVERAGE (2010-2014) Price Growth

Dividend Yield

EPS Growth with Dividend

70%

6%

1054% 23%

50 > QATAR TODAY > JUNE 2015

RPS Growth with Dividend

ROE

ROA

10%

9%

3

MASRAF AL RAYAN rd

RANK 2012 - 2nd RANK 2013 - 2nd RANK

AVERAGE PRICE GROWTH:

8

LIQUIDITY:

1

DIVIDEND YIELD:

2

NET REVENUE GROWTH:

18

AVERAGE RETURN ON ASSETS:

28

AVERAGE RETURN ON EQUITY:

15

FROM STRENGTH TO STRENGTH

I

Masraf Al Rayan (QSC) engages in Islamic banking, financing, investing, and brokerage activities in Qatar and internationally. It operates through corporate banking, retail banking, and asset management segments.

ts corporate banking products and services comprise corporate finance and advisory services, such as capital restructuring, capital raising, corporate valuation, transformation of business products, mergers and acquisitions, specialised investment, structured finance, project finance, and IPO; Murabaha, Ijarah, Ijarah Muntahia Bittamleek, Istisna’a, and Mudaraba financing products; cash management services; and treasury and trade finance products.

Masraf Al Rayan posted a net profit of QR2 billion for 2014, an increase of 17.6%, compared to 2013. As a result the Board recommended a dividend distribution of QR 1.75 per share, or 17.5% of the paid-up capital.

Masraf Al Rayan QSC’s UK subsidiary, Al Rayan Bank, recently opened its new Premier Banking branch in Knightsbridge, London. The exclusive branch is located opposite the famous Harrods department store and is expected to provide Gulf Cooperation Council (GCC) clients with exclusive private banking services.

The branch was opened by HE Yousef Ali Al Khater, Ambassador for the State of Qatar to the United Kingdom at an event attended by senior members of the Masraf Al Rayan and Al Rayan Bank boards, including, Masraf Al Rayan Chairman and Managing Director, HE Dr. Hussain Ali Abdulla, Group CEO, Adel Mustafawi, Al Rayan Bank Chairman Robert Sharpe, Al Rayan Bank CEO, Sultan Choudhury and Al Rayan Bank CCO, Keith Leach. Speaking at the opening of the branch, Masraf Al Rayan Group CEO, Adel Mustafawi said, “When Masraf Al Rayan was established nine years ago we set ourselves the ambitious goal of becoming a truly global bank. From the very beginning our strategy was to start from Qatar, then expand

ADEL MUSTAFAWI Group CEO, Masraf Al Rayan

to the GCC and ultimately look beyond. When the time was right for us to develop outside of the GCC, the United Kingdom was the natural place for us to begin.”

Al Rayan Bank CEO, Sultan Choudhury said, “The last year has been momentous for Al Rayan Bank, beginning with the acquisition in February 2014 by Masraf Al Rayan, which was followed later in the year by the successful rebrand to Al Rayan Bank, and continued with the posting of the bank’s most successful financial performance to date.

The opening of this new branch follows that remarkable year and, we believe, marks our transition to a new iconic banking brand for London and the UK.”

COMPANY'S PERFORMANCE BASED ON ASSESSMENT CRITERIA: FIVE-YEARS AVERAGE (2010-2014) Price Growth

Dividend Yield

EPS Growth with Dividend

RPS Growth with Dividend

ROE

ROA

29%

8%

18%

15%

18%

3% QATAR TODAY > JUNE 2015 > 51

QATAR

TODAY TOP

GULF INTERNATIONAL SERVICES

2014

AVERAGE PRICE GROWTH:

2

LIQUIDITY:

12

DIVIDEND YIELD:

14

NET REVENUE GROWTH:

6

AVERAGE RETURN ON ASSETS:

9

AVERAGE RETURN ON EQUITY:

6

4

th

RANK 2013 - 6th RANK

SWINGS AND ROUNDABOUTS Gulf International Services (GIS) was incorporated as a Qatari shareholding company in February 2008, by Qatar Petroleum (QP) which fully owned GIS prior to this.

T

he company has complete ownership of four subsidiaries: Al Koot Insurance and Reinsurance Company, Gulf Drilling International Limited, Gulf Helicopters Company and Amwaj Catering Services Limited. Through these companies, GIS has interests in a broad cross-section of industries, ranging from insurance, re-insurance, fund management, onshore and offshore drilling, accommodation barges, helicopter transportation, and catering services. GIS has steadily identified opportunities for strategic diversification of their investment portfolio to expand and develop their group of companies, offering attractive growth and high returns to valued shareholders.

The sharp decline in oil prices resulted in one of GIS's jack-up rigs under contract to be released by one of its clients in May this year but the company worked quickly with other potential clients to secure a work contract for the released rig and started leasing it out once again for shorter terms.

They have also entered into negotiations to reduce the current rigs day rates of another client at that client’s request.

It is expected that despite the good results of Q1 2015, these reductions will negatively impact GDI’s 2015 financial year-end results. There was some good news, with four new contracts and four contract extensions signed with QP for the provision of drilling rig services, each having a term of

five years. By contrast GIS's Gulf Helicopters Company has had a very busy year with the signing of contracts with Saudi Arabian Oil Company (Aramco) for the use of two AW 139s in support of its petroleum operation in Tanajib in Saudi Arabia, and with ENI North Africa’s Libya branch for the use of two AW 189s in support of its petroleum operation in Libya.

The company ordered the first AW189 Full Flight Simulator (FFS) in the region last year and has now taken delivery of two more AW189 helicopters.

Gulf Helicopters has a total of fifteen AW189s on order and the delivery of the whole batch of aircraft is scheduled to be completed by 2017. It also recently launched a new tourism project called “Samana” (Our Skies), which provides helicopter tours and sightseeing in and around Qatar.

GIS celebrated its highest annual revenue and net profit on record last year with revenue of QR 3.9 billion, up 69.7% since the end of 2013 and net profit of QR 1.4 billion, an increase of 108.4% compared to 2013.

The Board proposed cash dividend of QR5.50 per share, equivalent to a 72.5% payout ratio. In a statement released with the year end financials, the company said, “GIS is considered a long-term investment. Through the future expansion plans and initiatives being laid out by the group companies, the strength of GIS will become apparent year-on-year through key performance indicators such as profitability, earnings and return to shareholders.”

COMPANY'S PERFORMANCE BASED ON ASSESSMENT CRITERIA: FIVE-YEAR AVERAGE (2010-2014) Price Growth

Dividend Yield

EPS Growth with Dividend

RPS Growth with Dividend

ROE

ROA

43%

5%

32%

25%

23%

11%

52 > QATAR TODAY > JUNE 2015

ISLAMIC HOLDING

5

th

RANK

AVERAGE PRICE GROWTH:

3

LIQUIDITY:

3

DIVIDEND YIELD:

28

NET REVENUE GROWTH:

20

AVERAGE RETURN ON ASSETS:

37

AVERAGE RETURN ON EQUITY:

18

A STEADY CLIMB Islamic Financial Securities Company was established as a Qatari Private Shareholding Company and in 2006 the board decided to change it to a Public Shareholding Company.

The company continues to invest in shares and bonds and provides all financial for brokerage services on Qatar Exchange according to the Islamic Sharia.

T

his year the company saw a capital increase by 50 % from QR40 million to QR60 million through the issuance of 2 million new shares to shareholders according to the priority rights, at a rate of one share for each two shares with a nominal value of QR10 in addition to premium of QR40 per share. The remaining share was allocated to the shareholder who had requested more than the proportion of what they own of the shares.

The subscription period was open for 15 days during June 2015. The showing was good considering the company’s good financial results for the past year where it earned a net profit of QR16.1 million compared with QR9 million in 2013, a growth of 78%. Total earnings per share increased to QR4.02 per share from QR2.26 during the one year period. The Board of Islamic Holding Group made recommendations to the General Assembly to distribute cash dividends of QR3 per share, 30% of its paid up capital. “In the climate of optimism that the national economy is witnessing in all fields, especially in the Qatar Exchange , we seek to discover new opportunities for investment, achieving an adequate return for the shareholders and a better percentage of growth,” said Dr Yousef Al Nama, Chairman and Managing Director at Islamic Holding Group.

DR YOUSEF AL NAMA Chairman and Managing Director, Islamic Holding Group

COMPANY'S PERFORMANCE BASED ON ASSESSMENT CRITERIA - FIVE YEARS AVERAGE (2010-2014) Price Growth

Dividend Yield

EPS Growth with Dividend

RPS Growth with Dividend

ROE

ROA

42%

4%

31%

14%

15%

2%

QATAR TODAY > JUNE 2015 > 53

QATAR

TODAY AL MEERA

TOP

2014

AVERAGE PRICE GROWTH:

4

LIQUIDITY:

20

DIVIDEND YIELD:

6

NET REVENUE GROWTH:

26

AVERAGE RETURN ON ASSETS:

5

AVERAGE RETURN ON EQUITY:

3

6

th

RANK

HOME-GROWN RETAIL STORY Al Meera is a new entrant on the Qatar Today Top 10 on account of it just having completed five years on the Qatar Exchange. Established in 2004, Al Meera is 26% owned by the government, and 74% by shareholders. It was listed on the Qatar Exchange on October 28, 2009 and has since then developed its shops in cooperation with a reputable international consultancy house to meet international standards relating to interior design, marketing, promotion, and other technical and operational aspects.

A

t the time of going to print, Al Meera has 43 venues in Qatar with agreements being put in place for future stores, like the MOU signed between Al Meera Consumer Goods Company and Lusail Real Estate Development Company to operate and manage two community retail centres (UK) in Fox Hills and North Villas District. The year 2014 witnessed the construction and completion of nine new shopping malls and 14 new malls planned to further expand Al Meera's reach to more local communities in Qatar.

In the past year, Al Meera’s store space grew by another 32,500 sq.m. to over 100,000 sq.m. The group’s sales in 2014 grew by 11.8%, from QR1.9 billion to QR2.2 billion. Overall net profit rose by 15.5% from QR196 million to QR226 million. Their recent financial report indicates that over the past four years, the investment in property and equipment has increased more than five-folds by QR588 million compared to QR109.7 million as at December 31, 2010.

“The year 2014 saw a remarkable success not only at the profits level but in regards to our ongoing expansion plan.

The various new projects aim at fulfilling the different and daily needs of Qatar’s residents wherever they are,” said Mohamed bin Nasser Al Qahtani, Deputy CEO Al Meera.

Another subsidiary that Al Meera is focusing on is the Al Meera Bookstore Company which is the exclusive local franchise owner of the WHSmith brand, which is one of the largest bookstores in UK. The company opened three WHSmith stores in Hyatt Plaza at Al Aziziya, Ezdan Mall at Al Gharrafah District, and Nuaija Mall at Al Hilal. “Al Meera Bookstore Company will offer library services that meet the requirements and needs of our students, researchers, and

MOHAMED BIN NASSER AL QAHTANI Deputy CEO, Al Meera

academics, based on modern scientific research methods using state-of-the-art technology. Through WHSmith stores, our customers will have access to selected sources of information, helping them boost their education level, sense of creativity and enhance their active contribution to building the society.” Al Qahtani said.

Al Meera is also planning a strategic expansion into the logistics side of the business, transforming the operations that have been a cost to business to a revenue-generating arm in itself. In September, Al Meera Consumer Goods Company, together with Regency Group Holding and Aramex Regional, Dubai – UAE, incorporated a logistics company, Aramex Logistics Services Co to develop and operate a logistics facility and services business in Qatar.

COMPANY'S PERFORMANCE BASED ON ASSESSMENT CRITERIA: FIVE-YEAR AVERAGE (2010-2014) Price Growth

Dividend Yield

EPS Growth with Dividend

RPS Growth with Dividend

ROE

ROA

39%

7%

21%

8%

27%

13%

54 > QATAR TODAY > JUNE 2015

7

INDUSTRIES QATAR th

RANK 2012 - 5th RANK 2013 - 5th RANK

AVERAGE PRICE GROWTH:

26

LIQUIDITY:

5

DIVIDEND YIELD:

15

NET REVENUE GROWTH:

32

AVERAGE RETURN ON ASSETS:

1

AVERAGE RETURN ON EQUITY:

4

MAKING THE MOST OF CHALLENGING TIMES

I

Industries Qatar (IQ) is the regional heart in the production of petrochemicals, steel and fertilisers. As Qatar’s largest publicly-traded company, it aims at becoming the world’s biggest producer of ammonia and urea and a surge in global demand for fertilisers has helped it swell revenues over the last few years.

Q uses its discounted access to gas to make petrochemicals cheaper than rivals from outside the region. Even with such high expectations, the firm's reported full-year earnings in 2014 fell short of analysts’ expectations. The coming months aren’t set to get any easier for Industries Qatar, which is majority-owned by Qatar Petroleum. The chemical maker will face lower demand for its products as the first simultaneous recession for six decades in the US, Japan and Germany weakens demand for packaging and car bumpers.

But according to IQ, Chief Coordinator, Abdulrahman Ahmed Al Shaibi, “Industries Qatar is well-placed to weather the current downturn in oil and key commodity prices as the group maintains several competitive advantages: most notably, an excellent cost positioning, largely due to competitively priced natural gas feedstocks and, in the case of Qatar Steel, long-dated iron oxide pellet and competitively priced electricity supply agreements, product and end-market diversification, positive debt metrics and an important public policy role.”

These competitive advantages have been recognised by two international credit rating agencies, Standard & Poor’s and Moody’s, that rated IQ at AA- and Aa3, respectively, with a stable outlook. In addition, IQ is focusing on maximising the value of its current operating assets through various efficiency improvement programmes. The group has already commenced a number of these initiatives, targeting improving the operational efficiency and effectiveness throughout the entire value chain in order to achieve operational excellence, growth and value for all stakeholders.

Earnings in 2014 were supported by the launch and subsequent ramp-up of Qatar Steel’s EF-5 facility in the first quarter and Qafac’s CDR plant in the third quarter, as well

ABDULRAHMAN AHMED AL SHAIBI Chief Coordinator, IQ

as by strong full-year average key petrochemical product prices. However, the group faced significant challenges from extended, planned shut-downs noted across all plants during the first half of the year, continued weak urea prices, and heightened operating costs.

It is important to emphasise that the planned maintenance and challenging market conditions experienced were largely expected and accounted for in the group’s 2014 budget.

Reported revenue for the year ended December 31, 2014 under IFRS 11 was QR6.0 billion, a marginal increase of QR0.1 billion, or 2.5%, over the previous year; on a likefor-like basis, management reporting revenue – assuming proportionate consolidation under IAS 31 – was QR18.2 billion, a decrease of QR1.0 billion, or 5.4%, versus the same period in 2013.

COMPANY'S PERFORMANCE BASED ON ASSESSMENT CRITERIA: FIVE-YEARS AVERAGE (2010-2014) Price Growth

Dividend Yield

EPS Growth with Dividend

RPS Growth with Dividend

ROE

ROA

11%

5%

7%

1%

27%

21% QATAR TODAY > JUNE 2015 > 55

QATAR

TODAY WOQOD

TOP

2014

8

th

AVERAGE PRICE GROWTH:

7

LIQUIDITY:

26

DIVIDEND YIELD:

27

RANK

NET REVENUE GROWTH:

10

AVERAGE RETURN ON ASSETS:

4

2012 - 3rd RANK 2013 - 4th RANK

AVERAGE RETURN ON EQUITY:

1

ENABLING GROWTH Qatar Fuel, trading as WOQOD, is responsible for supplying gasoline, diesel, aviation fuels and LPG on an exclusive basis to all customers in Qatar. “Providing all our customers with the products they need when they need them, with a strong emphasis on safety, is our prime mission,” according to Eng. Ibrahim Al Kuwari, CEO, WOQOD.

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he general public sees WOQOD as a service station company but they are much more than that, according to Al Kuwari.

“WOQOD provides innovative solutions to the construction industry, diesel tanks at construction sites, a fleet of over 400 road tankers delivering gasoline, diesel and LPG wherever they are needed, often 24 hours a day, 7 days a week. WOQOD’s bitumen business works closely with the public works authority Ashghal to ensure road surfaces are laid using the latest technologies in bitumen applications that lengthen the useful life of a road and minimise maintenance costs.

WOQOD’s innovative Shafaf LPG cylinder is lighter and safer than steel LPG cylinders and will replace steel cylinders within a few years,” says Al Kuwari.

WOQOD’s affiliate companies have a strong focus on safety and excellence in customer service, according to Al Kuwari. Fahes is the vehicle testing company responsible for the annual inspection of all vehicles on the road that are more than three years old. “The recently opened inspection centres at Wadi Al Banat and in Mesaimer use the latest technologies in vehicle inspection, thus contributing to the safety of vehicles on the roads in Qatar and the reduction in fuels emissions,” he says. “Qatar Jet Fuel Company (QJet) provides all the aviation fuel for Hamad International Airport and works closely with all airlines to ensure their fuelling requirements are met safely and in time for their demanding schedules. WOQOD Marine Services Company provides shipping logistics for the importation of bitumen into Qatar and supplies fuels to all ships within Qatari waters. “ Al Kuwari speaks about the recent issue highlighted by the media and by the common man in general of the lack of sufficient petrol stations in the country, resulting in a crowding at existing petrol stations. “We recognise that there are not enough service stations in Qatar. We can all

ENG. IBRAHIM AL KUWARI CEO, WOQOD

see the increase in the number of vehicles on Qatar’s roads which is reflected in our annual growth in gasoline and diesel demand at around 9% per year. WOQOD presently operates 25 full-service stations with Sidra convenience stores, car washes, lube change, tyre shops and vehicle maintenance.

Our vision is to have 100 WOQOD service stations by the end of 2018 and this is what our management team is focused on. Currently we have 10 stations either under construction or in initial planning phase. These will open through 2015 and early 2016. In addition we are working closely with the Ministry of Municipality and Urban Planning to make sure land is made available for service stations in locations where customers want them. This is essential for the new roads being built by Ashghal,” says Al Kuwari.

Explaining what the company has planned for the future, Al Kuwari says, “We are always looking to improve the service we give to our customers. By the end of 2015 we will introduce an RFID fuels management system that will improve the accuracy of fueling and reduce the opportunity for theft of fuel.”

COMPANY'S PERFORMANCE BASED ON ASSESSMENT CRITERIA: FIVE-YEARS AVERAGE (2010-2014) Price Growth

Dividend Yield

EPS Growth with Dividend

RPS Growth with Dividend

ROE

ROA

30%

4%

6%

19%

42%

15%

56 > QATAR TODAY > JUNE 2015

BARWA REAL ESTATE CO.

9

th

RANK

AVERAGE PRICE GROWTH:

36

LIQUIDITY:

4

DIVIDEND YIELD:

21

NET REVENUE GROWTH:

14

AVERAGE RETURN ON ASSETS:

25

AVERAGE RETURN ON EQUITY:

22

LIVE TO FIGHT ANOTHER DAY Considering Barwa’s troubled past, the position it holds today on the Qatar Today Top 10 is nothing short of miraculous. For several months now, the company has been trimming the fat from its organisation - liquidating non-performing companies and selling assets to pay off debts. Over the past year, it was decided to liquidate five dormant companies that haven’t been generating revenues – Nuzul Qatar, Okaz Media, Barwa Technology, Lucair Real Estate and Knowledge Group.

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ver 2014-15, Barwa conducted some distinctive transactions which resulted in a full restructuring of the financial position of the group. The year saw the conclusion of the agreement to sell the group’s shares in Barwa Bank, Barwa Commercial Avenue, Barwa Al Sadd and Barwa City, and some other assets to Qatari Diar with all those transactions utilised to settle Barwa's debts. Barwa announced amending the agreement with Qatari Diar after Barwa took back its shares in the Barwa Al Sadd project after studies confirmed the economic importance of retaining this project. As per the transaction, Qatar Diar, strategic partner of Barwa Real Estate, decided not to proceed with the transfer of the rest of the assets as the part which was already completed had significantly reduced Barwa's debts. The assets which were not transferred to Qatari Diar are some local and international assets from Barwa's investment portfolio which are worth QR1.4 billion. On the development side, Barwa Real Estate was able to complete phase one of Barwa Al Baraha (workers accommodation). The group has almost completed the Al Khor Shell project, in addition to announcing a number of new projects including the Madinat Al Mowatir, Mostawdaat and Alaateda projects. On the operating side, the group focused on improving the performance of its subsidiaries including Qatar Real Estate Investment Company, Qatar Project Management and Waseef Property Management Services. They also focused on improving the performance of real estate projects owned by the group such as Barwa Al Sadd, Barwa Village and Masaken. The group could also strengthen its asset base through the purchase of Arcapita

shares in Lusail Golf Development Company.

In the financial year ended 31 December 2014, the group’s results showed a net profit of QR2.7 billion, with QR7.14 profit per share for 2014, compared to QR1.4 billion and QR3.53 profit per share for 2013, showing a 102% increase.

The Board of Directors proposed a cash dividend of QR2.20 per share (22% of the share value).

Salah bin Ghanem Al Ali, Chairman of Barwa Real Estate Group, pointed out that the powerful results of the group's financial position were accomplished by the continuous efforts of the Board of Directors to utilise the group’s assets whether by developing, operating or selling those assets, which are the core activities of Barwa as a real estate investment company.

With the increasing demand on commercial & residential units, Barwa Real Estate has started its expansion project for Barwa Village on Al Wakra road and the leading local consultancy, Arab Engineering Bureau, for the delivery of the company’s newest development “Motor City” in agreement with the Ministry of Municipality & Urban Planning in Qatar.

Under this signed agreement Barwa will rent land extending over 1,150,000 square meters, located in Rawdat Rashid near Salwa Road, to develop and run a distinctive project offering used-vehicles services.

The group announced the appointment of Salman Mohamad Ahmad Al Hasan Al Muhannadi as Group CEO of Barwa Real Estate in March 2015.

The group is reportedly finalising its new strategy, reviewing current investments to determine best approaches of utilising them, and studying potential opportunities.

COMPANY'S PERFORMANCE BASED ON ASSESSMENT CRITERIA: FIVE-YEAR AVERAGE (2010-2014) Price Growth

Dividend Yield

EPS Growth with Dividend

RPS Growth with Dividend

ROE

ROA

7%

5%

26%

18%

13%

3% QATAR TODAY > JUNE 2015 > 57

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TODAY ALIJARAH: NATIONAL LEASING HOLDING CO.

TOP

2014

AVERAGE PRICE GROWTH:

27

LIQUIDITY:

9

DIVIDEND YIELD:

12

NET REVENUE GROWTH:

27

AVERAGE RETURN ON ASSETS:

15

AVERAGE RETURN ON EQUITY:

14

10

th

RANK

2012 - 4th RANK 2013 - 7th RANK

PEGGING ON GROWTH Established in 2003, Alijarah Holding is a Qatari shareholding company listed in the Qatar Exchange, with a diversified business portfolio covering leasing, equipment and transportation, property development and hospitality services. Till 2010, Alijarah Holding was known as National Leasing Holding .

S

pelling out the reasons for Alijarah figuring among The Qatar Today Top 10 listed companies for the third successive year, Alijarah Holding, CEO, Hamad Shareef Al Emadi says, “We offer the best choice of leasing options under Islamic principles by providing the most flexible options for customers to finance their capital acquisitions at competitive rates. In the transportation sector we have been supporting Mowasalat and the public by running a fleet of 1,000 taxis and 60 private limousines. In addition to this is the successful completion of the various material transportation contracts through our heavy equipment fleet. Our wide portfolio of work includes the completion of the Lusail Infrastructure Project in preparation of 895 plots of land to be ready for villa construction by the owners. We are also in the process of the acquisition of a driving school which is expected to start in the forthcoming years.”

Going into the specifics of the company’s performance, he says, “Our investment strategy is quite aggressive; strategies are made on the portfolio and deposits to increase return on investments. During the last five years, QR169 million of income was generated through investment activities with an ROI of 28%.” Alijarah Holding makes extensive efforts to diversify the Islamic financing options to Qatari nationals, expats and corporates based on market trend and customer-based requirements.

In the transportation business, Alijarah was vested with a franchise agreement by Mowasalat to run a fleet of 500 Taxis in 2012 which later expanded to 1,000 taxis in 2014. “Within Alijarah Properties, we have successfully completed the Lusail Infrastructure Project and handed over the plots to owners to start construction.” While each of the segments has been instrumental in Alijarah’s success, some of the branches seem to have fared comparitively well.”

In the previous years the property business formed

HAMAD SHERIF AL EMADI CEO, Alijarah Holding

a significant portion of the group’s revenue, however in 2014, Alijarah Holding was ranked first with a decline in property revenue which was a reflection of the completion of the Lusail Infrastructure Project as the plots have been handed over to the owners,” he says. “Further, the taxi and equipment business also are slated to grow faster with the economic activities picking up in Qatar and contributing higher profit margins.”

Exploring other infrastructure and real estate development opportunities is on the cards for Alijarah Holding, capitalising on the growth potential in Qatar.

"Construction of the state-of-the-art driving school and taxi complex, building comprehensive accommodation, service area and warehousing facilities in the Industrial area,” he says.

With increased economic activities in Qatar, transportation requirements are growing. "We are negotiating additional contracts. We are also planning to add additional trailers to replace the old ones and also to cater to the additional requirements.” The leasing segment is consistent in its business and there are strategic options being explored in growing this business further,” he says.

COMPANY'S PERFORMANCE BASED ON ASSESSMENT CRITERIA: FIVE-YEAR AVERAGE (2010-2014) Price Growth

Dividend Yield

EPS Growth with Dividend

RPS Growth with Dividend

ROE

ROA

10%

6%

-5%

7%

18%

8%

58 > QATAR TODAY > JUNE 2015

WINNERS ALL THE WAY The second category of the Qatar Today Business Excellence Awards congratulates prominent companies and individuals who have done the nation proud by excelling in the fields of business and economy and also by aligning their company goals to the National Vision 2030. These special awards will be presented in the following categories: Best CEO, Lifetime Achievement Award, Emerging Real Estate Entrepreneur, Most Innovative Company, Businessman of the Year, Excellence in CSR and Social Values and Best Logistics Company. In Part one of this story, we talk to some of the winners.

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I have contributed to the expanded presence of Doha Bank across GCC, established relationships with leading corporates in the GCC industry and fulfilled their banking and financial services requirements.

I have highlighted the changing dynamics in the banking industry pre- crisis and postcrisis and emphasised the implementation of regulatory reforms as part of revamping the global financial architecture after the crisis.

60 > QATAR TODAY > JUNE 2015

BUSINESSMAN OF THE YEAR

DR R SEETHARAMAN GROUP CEO, DOHA BANK

A SOCIAL COMMITMENT For almost a decade, a colourful bow tie was always associated with one of the most powerful figures in Qatar’s banking sector. Dr R Seetharaman, Group CEO, Doha Bank has moved away from that strict bow tie style, though he still maintains a distinguished flair for power dressing. His skills in negotiation, in achieving the impossible, leading his team in opting for innovation at every step of Doha Bank’s banking feet, though, are largely unaffected and have even happened with his growing expertise in the field of banking.

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oha Bank is now not just a local bank but an international name with its extended global footprint across 15 nations worldwide. In this pursuit, Doha Bank was also the first Qatari bank to establish its full-scale banking operations in India.

For a man who travels continents on a weekly basis, Seetharaman still kept the late appointment he had fixed with us and sat down for a chat on the banking industry in general (which will be carried in the next issue of Qatar Today) and his career in particular.

Seetharaman was also one of the first businessmen who popularised the term Green Banking, introducing Doha Bank to a phase of corporate social responsibility programmes through sustainable actions.

Musing on 12 years of being at the helm of Doha Bank, Seetharaman says, “I have always aimed at sustainability in my outlook; whether in my personal or professional life. It is important to sustain your credibility. Especially being in a financial institution, which is truly public, and global. What you need is to take care of all the stakeholders, socially commit yourself, and most importantly, you have to ensure that whatever you do is ethical and moral,” he says.

Focussed and intent, Seetharaman takes his role in society very ascetically. His list of virtues for staying ahead of the competition is relentless. “Your operating efficiency has to be topmost, as this is highly crucial and it makes sure that your stakeholders and shareholders are always satisfied. Everything that you do needs to have a customer-centric focus. On top of it, you should contribute to and also benefit from a knowledge-based society. You also need to build on the knowledge assets through talks with experts and share the intellectual assets and empower others through these exchanges.”

“If all these balances are in place, and with such a thought

leadership,” Seetharaman says, “success is inevitable.”

But to keep to this perfect scenario, 24/7, 365 days, must be a mental strain. Seetharaman disagrees, saying: “If passion comes in, performance follows. It doesn’t even seem like a job, but becomes a part of your life. You should have pride in what you do. Humility, persistence, hard work, transparency are all part of the core values.”

The list never ends and it does seem as if being on top is not as easy as it looks. “You have a bigger vision, and when you achieve what you have aimed for, you lift your vision and aim for the next,” he continues.

From being an underperforming institution with seven branches to a bank with a global footprint which has ensured 10 times return to the shareholders over the last 12 years with a high respect from regulators, Seetharaman has indeed changed the banking landscape through his active role in the industry.

Ask him about his contribution and he is happy to expand on his roles. He says, “I have contributed to the expanded presence of Doha Bank across GCC, established relationships with leading corporates in the GCC industry and fulfilled their banking and financial services requirements. I have highlighted the changing dynamics in the banking industry pre-crisis and post-crisis, emphasised the implementation of regulatory reforms as part of revamping global financial architecture after the crisis.”

“We developed working relationships with GCC banking regulators and now look forward to implementing various reforms in the GCC region. Doha Bank has kept abreast of developments in technology and leverages on it to provide value advantage to the customer.”

It therefore was a no brainer for Qatar Today, to institute the Businessman of the Year to this personality who has come to the country and made a strong partnership with stakeholders based on integrity and social commitment.

QATAR TODAY > JUNE 2015 > 61

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“Currently we handle diplomatic clients, corporates, international companies and individuals.

There is a void in the Qatari market for high-quality, reasonably priced real estate and we have from the beginning strived to fill this.�

Abdul Hameed KC

Managing Director, RASTEC Properties

62 > QATAR TODAY > JUNE 2015

EMERGING REAL ESTATE ENTREPRENEUR

ABDUL HAMEED KC Managing Director, RASTEC Properties

HUNGRY FOR NEW CHALLENGES

I

Abdul Hameed KC is a veteran of Qatar’s business world. Over his lifetime, both in India and three decades in Qatar, Hameed has built and expanded several companies, each a new venture. From textiles to trading, he has done it all and continues to boldly embrace new business opportunities like Real Estate and Information Technology which are a far throw from his traditional business interests.

t was this that first brought him to our notice. In a country where diversification is the game of governments and conglomerates, Hameed, managing a business of just under 40 employees, stands out for his tenacity and sheer will to fight for his piece of the pie, irrespective of which business sector.

Choppy growth, unpredictable trends and changing regulations have made the real estate sector a gamble that seems to defy the laws of economics. It was such a quagmire that Hameed entered back in 2011 when he launched RASTEC Properties. Behind this venture, besides his many years' worth of accumulated business savvy, was RASTEC Trading & Services Co. The core business of the company, which he founded in 1995, is currently the Chemicals division which provides innovative specialty chemicals, technical services and support for broad range of industrial applications. It grew into this from trading, surplus and scrap collection and ISO consulting before branching out further into properties and IT. It was a carefully considered, market-study led, network-approved expansion and Hameed reckons that RASTEC’s attentively nurtured reputation and the consequent trust in the brand stood him in good stead in this new undertaking.

Speaking about RASTEC Properties, which has made quite a name for itself in this highly competitive segment, he says, “Currently we handle diplomatic clients, corporates, international companies and individuals. There is a void in the Qatari market for high-quality,

reasonably priced real estate and we have from the beginning strived to fill this.” Every customer is special, says Hameed, irrespective of whether they are a diplomatic mission or someone with surprisingly more complicated demands like a family of five. “Each client is treated with care from the time they get in touch with any of our representatives. Throughout the process, we make sure a qualified manager is assigned to them who becomes their one point contact for anything related to their real estate needs. These personal managers are complemented by our skilled maintenance team, available on call anytime,” he says.

The ensuing years, of course, weren’t without its challenges.

“It has been getting progressively difficult to acquire properties from landlords at affordable prices. But we were able to overcome this with perseverance, regular meetings with both parties and leveraging on our reputation in the local market,” says Hameed. He has high ambitions for RASTEC Properties but quality service and affordability will always be its core tenents, he assures us.

The Qatar Today Business Excellence Awards for Best Emerging Real Estate Entrepreneur is a great achievement for him and his entire team, Hameed tells us. “It is definitely a milestone for our company and gives each one of us a sense of motivation to build a brand that people can trust. This also means we have started the process to reach our ultimate objective of becoming the Real Estate Partner of Choice for Qatar and be proud participants in its growth,” he says.

QATAR TODAY > JUNE 2015 > 63

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2014

We believe in doing it right the first time, every time.

It’s our commitment to delivering excellence and incorporating passion into all that we do. And our strength too.

Nishad Azeem

Founder and CEO of Coastal Qatar

64 > QATAR TODAY > JUNE 2015

MOST INNOVATIVE COMPANY

COASTAL QATAR

PIONEER AT HEART

The winner of the Most Innovative Company, Coastal Qatar believes in doing things differently and with passion. Nishad Azeem is the Founder and CEO of Coastal Qatar, a conglomerate that specialises in construction and healthcare.

H

ere he speaks to Qatar Today about how the demand for basic goods affects the industry, and how Coastal focuses on sustainability in construction. The company was established back in 2005 during the Asian Games, back when the contracting industry was booming in Qatar. According to Azeem, “We started with just two professionals and we were fortunate to get one major project within the Aspire Zone. We did the whole sealing inside that stadium, and that actually put Coastal on the map as a specialised construction company.” Azeem adds: “After that we started the trading division as we wanted to expand in the market.

We represent products for interior fit outs.” Coastal was involved in some major construction works, like the interiors of Oryx Rotana, Barwa (Al Sadd) and the gymnasium flooring in the new airport.

He continues: “With that we started another division which is the steel fabrications division. We did major projects in Ras Laffan, and also within Hamad International Airport. Coastal has broadened its business streams and also made a foray into the transportation sector. But that is not the end of diversification; Coastal has also made an entry into the business of steel fabrication. “And now we are among the top players in the steel fabrication field with a thousand tons per month,” Azeem says. He adds: "We are trying to be technologically advanced. I think we are the first company in Qatar to have a robot in steel and stainless steel, and this is a Swedish robot

form (ABB). We also have a 3D modeling system, and will be the first company to implement software controlling in all our productions lines.” Azeem talks also about the company`s vision: “To us customer service, customer satisfaction and safety come above everything else.

Our team of competent professionals and specialists is supported by an experienced workforce in construction, fabrication, erection and logistics support. Our facilities include a well-equipped, modern and automated fabrication workshop, blasting and painting unit, carpentry workshop and a fleet of transportation and construction equipment. Our main strength is being able to manage complex projects by going into the detail of the project.” Azeem adds, “Our strength lies in embracing engineering challenges, in simplifying the complex, and incorporating passion into all that we do. The Coastal way has always been about constantly challenging the boundaries of engineering innovation, commitment to safety, schedule and quality, thereby delivering excellence to the construction and engineering landscape of Qatar and its neighbouring regions.”

Azeem speaks about his company slogan and says: We believe in doing it right the first time, every time. It’s our commitment to delivering excellence and incorporating passion into all that we do.

And our strength too.” He adds: “I take pride in having a free and open structure that inspires trust. Ours is a diverse, multicultural group of professionals who are driven towards accelerated growth, while being completely ethical.”

QATAR TODAY > JUNE 2015 > 65

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“DHL’s SME segment in Qatar has witnessed a significant jump in the last five years, and this is a reflection of the rise in smaller enterprises setting up in the local market. Our growth in this sector has experienced double-digit numbers year-on-year, with many of our new customers outside the oil and gas industries.”

Nael Attiyat

Country Manager of DHL

66 > QATAR TODAY > JUNE 2015

BEST LOGISTICS COMPANY

DHL

SIGNED, SEALED, DELIVERED From dispatching important business documents, to delivering personal items across the miles, DHL has delivered on demand to customers around the world. The company is present in over 220 countries across the globe. Its office in Qatar was set up in 1979 and it is now present in 10 locations across the country with more to be opened soon.

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atar Country Manager Nael Attiyat explains some of the company’s main goals. “Providing great service quality consistently to our customers is our main priority. We aim not only meeting their expectations but exceeding them when it comes to their express logistics requirements.”

The company has a diverse customer base, serving the oil and gas, healthcare, education, financial, aviation, automotive, retail and FMGC sectors.

In a recent interview with Qatar Today, DHL Express MENA, CEO, Nour Suliman said, “DHL’s SME segment in Qatar has witnessed a significant jump in the last five years, and this is a reflection of the rise in smaller enterprises setting up in the local market. Our growth in this sector has experienced double-digit numbers year-on-year, with many of our new customers outside the oil and gas industries.”

Recognising its efficiency and years of dedicated service, DHL was awarded the Best Logistics Company by Qatar Today Business Excellence Awards. It is an important achievement for DHL who have grown for more than 25 years. Attiyat says, “We feel proud and honoured to be recognised for our role in developing the landscape of Qatar. It also showcases that DHL Express is trying to be the ‘provider of choice, investment of choice, employer of choice.”

Over the past decade, Qatar has undergone rapid expansion in terms of business growth and development. The logistics industry as a whole has had to adapt to the demands of a growing economy.

“Keeping up with the pace of Qatar’s fast-growing economy has

been a challenge,” admits Attiyat.

In the globalised world, setting up shop locally is no longer enough for smaller players to succeed. International trade has become a vital component to the long-term survival of SMEs. This is where logistics comes into play. Trading across borders can be a time-consuming, complex and risky business; issues such as cultural differences, high administrative costs and inadequate infrastructure can be daunting for smaller players. In such a scenario logistics providers present solutions for small businesses and can grant them access to the world’s biggest consumer markets, making it a fundamental part of their service and giving them an edge over the competition.

“Another aspect that we keep closely in focus is continuously looking at investment opportunities to support customer requirements,” says Attiyat.

In 2014 the company set up in the UAE the largest DHL Express centre for ground operations in the Middle East and North Africa.

Covering over 17,265 square metres, it connects the region to DHL’s global network and provides improved transit times and performance.

“As a company, DHL has always invested in the region to support growth expectations. We also have a regional hub in Bahrain to support the Middle East,” explains Attiyat.

Looking ahead the company is confident to meet customer expectations. “We hope to maintain the double-digit growth DHL Express has experienced in previous years,” says Attiyat. “We would also like to invest in Qatar to support local projects, industries and companies with the rest of world,” he concludes.

QATAR TODAY > JUNE 2015 > 67

business > bottomline

Who is responsible for creating jobs?

According to the World Bank, over 50 million new jobs need to be created in the Middle East and North Africa (MENA) region in the next decade at a growth rate of 6.5% to ensure political and social equilibrium.

68 > QATAR TODAY > JUNE 2015

T

here is no denying the Arab Spring was fueled primarily by unemployment and economic inequality against a backdrop of social and political injustices and general corruption.

Youth unemployment is particularly rampant in the region, averaging 25%, compared to an average of about 17% in developed countries. But whose responsibility is job creation anyway?

Bayt.com conducted a poll to ask MENA professionals who they thought was responsible for creating jobs.

The majority of those polled (47.1%) hold the government accountable for unemployment in their countries; 7.3% blame the private sector; 5.2% the education sector; and 6.3% say it’s the responsibility of individuals themselves.

So what is a government expected to do when it is seen by many as the employer

of first and last resort and the key arbiter of change? The same Bayt.com poll asked job seekers how the government could best improve employment in their countries.

17.1% said by stopping corruption; 10% said through the creation of more jobs in the public sector; while 8.1% said by improving the education sector.

With a vast majority of poll respondents (86.5%) indicating they believed it was possible to dramatically improve employment prospects through better public policies, there seems to be no substitute for a close public-private partnership in nurturing job growth and addressing employment bottlenecks, if not outright job creation, in the long run.

The great news is that the poll showed the overall sentiment across the region to be resoundingly positive, with 65.1% of respondents to the same Bayt.com poll indicating they are optimistic about their

career prospects and 64.7% saying they are optimistic about their country’s economy.

Below are some solutions to the youth unemployment problem in the region based on various polls and survey reports

by Bayt.com: Quality of training and education The MENA region is hungry for learning.

Over 69% of polled professionals cited reading as essential for their career growth, with 78% citing they read career literature regularly. Moreover, when asked if they would go back to school by pursuing an online programme for further education, 39% said they would choose a postgraduate programme, while 23% said that they would choose an undergraduate programme given the chance.

When asked about what they look for most when hiring, regional employers repeatedly rank ambition, drive, motivation, team skills and communication skills very highly - sometimes even above technical skills and career track record.

Education and training curricula should therefore bridge the gap and include basic preparation for the business world from an early stage; they should impart a clear idea of how the business world works, what different careers actually look like, and what skills are best aligned to individual career interests.

Public and private recruitment If the government is not to take an active role and credit for creating jobs, it can still facilitate the mobility of labour by easing the structural impediments to labour flow and facilitating information flows.

Employers in many MENA countries still suffer from restrictive hiring and firing regulations, compared to those in developed and other developing countries, and this chokes their propensity to hire opportunistically in a bull market.

Government placement offices that are friendly, civilised, orderly and sanitary may be one place to conduct aptitude tests and assessment centres and try to match talent with opportunity. This can also be done entirely online, as some GCC countries

have started doing, with state-of-the-art online career portals designed to facilitate and streamline the recruitment process.

Incentives can even be given to employers who hire through these governmental platforms, be it as simple as free access and job postings and free assessment testing and screening.

Conducive atmosphere How about creating an infrastructure that is business friendly and encourages rather than smothers entrepreneurship and innovation; one that actually helps SMEs overcome their teething problems?

Governments can directly encourage labour-intensive SMEs through a variety of means including fiscal incentives and credit facilitation. There is a very significant case to be made for creating sustainable economic growth by encouraging a spirit of entrepreneurship.

The Entrepreneurship in the Social Sector and Arab Spring Survey conducted

by Bayt.com in conjunction with the Programme on Arab Reform and Democracy at Stanford University showed that the Arab Spring had a positive effect in driving higher interest in both economic and social development.

In every country surveyed, a large proportion of respondents indicated that if given the choice they would prefer to be self-employed or own a business. But while interest in entrepreneurship is high, respondents indicated very high rates of failure of new businesses and NGOs. Lack of finance remains the largest challenge to starting a business, while bureaucratic hurdles such as legal registration and interference from authorities were cited by those operating in the NGO sector.

In conclusion, clearly the issue of youth unemployment should be prioritised at the top of policymakers’ agendas and a flexible approach to addressing it - which looks into avenues such as structural reforms, promoting private sector investments, and cascading better and more relevant training and education across all sectors of the workforce - should be adopted by governments across the region

“Employers in many MENA countries still suffer from restrictive hiring and firing regulations, compared to those in developed and other developing countries, and this chokes their propensity to hire opportunistically in a bull market.”

Bayt.com is the #1 job site in the Middle East with more than 40,000 employers and over 20,250,000 registered job seekers from across the Middle East, North Africa and the globe, representing all industries, nationalities and career levels.

QATAR TODAY > JUNE 2015 > 69

business > bottomline

Millennial Qataris –

are we doing enough to develop them?

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he millennial generation has for the past few years captured the attention of policy makers, journalists, academics and business leaders. This generation (now aged from their teens to early 30s) is the pipeline from which the future (and some current) leaders of our governments and workplaces will emerge.

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Does this apply to the GCC? To some extent, it is relevant as our youth are exposed to travel, technology and media.

At the same time, we know that the region's countries have strong cultures and enduring traditions.

Aon Hewitt's Qudurat study, aimed at identifying regional talent developments, paints an interesting picture of our

prepared them well for the world of work compared to their expatriate counterparts (only 62.5% of young nationals feel well prepared, compared to 85.7% of expatriates).

QUDURAT WAVE 3 STUDY If you would like to share your own experiences with Qatarisation programmes, and get insight into best practices and workforce attitudes, contact us to participate in our Qudurat Wave 3 study. Participation is free of charge and very easy. To find out more, please visit www.aonhewittme.com/ qudurat

Millennials in relation to the world of work, and brings into focus the challenges for Qatarisation.

It found that younger GCC national employees are significantly less tolerant of diversity than their older counterparts.

This finding is echoed by the 2012 Qatar Human Development Report, which found that young Qatari nationals saw "a mixed work environment" as a barrier to working in the private sector. It's interesting that our millennials find it challenging to work with different people in spite of their educational preparation and their exposure to different cultures both in Qatar and abroad.

The Qudurat study also indicates that these same young people do not believe that their educational experiences have

Mismatch Labour market data shows that there is a mismatch in the availability of technical skills as well as other soft skills that oil the wheels of workplace interaction and which may help them operate appropriately in a culturally diverse workplace environment.

In spite of the above, there are high expectations for salary raises and promotions. In fact, young people are significantly more confident of their promotion prospects than older people are.

These findings pose important challenges to current management approaches.

For instance, while there is a significant investment in learning and development interventions, it is questionable whether the right areas are being targeted. Coaching and mentoring are being underutilised as effective development tools for young people, with only one out of two Qatari nationals under 25 years old believing that they received adequate coaching or mentoring at work in the last six months.

Confidence in leadership is also lower among the younger age groups. In Qatar, only 52.8% of those under 25 years old believe that their senior leaders are making the right decisions in running their organisations and managing their employees. While this is higher than other GCC countries, it still means that close to half of the under 25-year-old workforce is less engaged due to lower levels of confidence in their leadership.

Concerns remain Conversely, business leaders are concerned about the shortages of vital skills in the talent market and the inability of their organisations to attract the right talent. There is a great need for youth to understand and prepare for the evolving workplace.

On the other hand, business leaders also need to reach out to the youth and guide them to make the most of the opportunities available to them. Organisations need to make sure that their Qatari youth are properly engaged and developed to take on meaningful work now and in the future

BY DR MARKUS WIESNER Chief Executive Officer Aon Hewitt Middle East and Africa

ABOUT AON HEWITT Aon Hewitt is a global leader in human resource solutions. For more information, please visit www.aonhewitt.com.

QATAR TODAY > JUNE 2015 > 71

development > tag this

Connected to the future

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Our roads, our cars and the driving experience are set to change forever. How prepared is Qatar? We find out from the company that will likely be leading this transformation from the inside – the Qatar Mobility Innovations Center.

hen we first heard about the emergency vehicles in Doha being fitted with the Emergency Vehicle Preemption System (EVPS), our thoughts turned to the Qatar Mobility Innovations Center (QMIC) which we know has been working for over four years in the connected vehicles space.

This project is not one of QMIC's but only in April, the company demonstrated its

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By Ayswarya Murthy progress in developing connected vehicles platforms and applications at the first field demo of its kind in the region. This monumental event held at the campus of the Qatar Science and Technology Park was attended by VIPs from government, industry, research and academic sectors in Qatar, according to a recent statement issued by the company. These developments demanded that we visit QMIC to learn more about its progress and Dr Hamid Menouar kindly filled us in.

Intelligent Transport System Dr Manouar, Connected Cars Product Manager and R&D Expert, is an old hand at this technology with related work experience that spans over a decade and holds a doctorate for his research in shortrange wireless communication. He has been involved, from the very beginning, in the standardisation activities of Intelligent Transport Systems (ITS) communication in Europe. "Before I joined QMIC, I was part of the R&D team that carried out

the first connected car demonstration in Europe back in 2008," he says. He continues to take the technology forward with his team in Doha, who contribute to the standards being developed by the European Telecommunications Standards Institute (ETSI).

Dr Manouar is of course watching the developments inside Qatar and the region with keen interest. The upgrade that Doha's emergency vehicles received recently is something that gives him assurance that the government is thinking along the right lines. "We have seen this technology being implemented elsewhere of course and it has a direct link with saving lives," he says. But what QMIC is working on is the next generation of this technology that has only been seen inside laboratories so far. Dr Manouar believes that, with focus, speed and proper engagement, Doha can be first in the world to showcase a citywide implementation of this technology before 2022. He and his team are singlemindedly working towards that goal. Why this is so surprising is clear when we begin to perceive just how big the technological leap is between what is currently in the market and what QMIC hopes to see realised within the next four to five years.

The EVPS that is now being used on Doha's ambulances and fire trucks are radio controlled; they require the driver to remotely activate the sensors placed above the traffic lights, clearing the way for the flow of traffic in the direction the ambulance is going. But this can and is being improved. With connected vehicles technology, not only can you communicate with the lights (vehicle to infrastructure) but also with the cars around you (vehicle to vehicle), with increased speed and across greater distances. "People tend to think that connected vehicles is just about building a SIM card slot into the car and connecting it to the Internet. That's just part of it. Our technology is a bit more futuristic than that," he explains. This new communication system is an adaptation of the traditional Wi-Fi. Alternatively called ITS G5, DSRC (Dedicated Short-Range Communications) or WAVE (Wireless Access in Vehicular Environments), it functions over a dedicated 5.9 GHz channel without using the Internet. "We had to bypass the Internet because fast reaction times were needed to ensure accident prevention, which is the driving force behind this technology."

With human error responsible for an overwhelming chunk of all vehicular

QMIC hosted a demo of its connected vehicles technology at the QSTP in April which was attended by several high-profile leaders including the Minister of Information and Communications Technology,

HE DR HESSA AL JABER.

accidents, the impact of connected cars on our lives, the way we drive and how governments and businesses look at road transport is going to be enormous. "When you are driving and another car cuts into your lane, your car will sense it even before you see it because the two vehicles would have already established a communication and exchanged information about the new move," Dr Menouar says. The technology will find further use in traffic management with vehicle-to-infrastructure communications; like Roadside Units (RSUs) alerting drivers about road work, accidents, congestion, change in speed limits, etc.

"Connected vehicles is the key element

of autonomous driving," he adds. "Along with replacing the human driver, we also have to replace the communication that happens between drivers while they are on the road." Other features can then be built on top of this – infotainment, creating a private network within a convoy, connecting to the Internet through a complementary device. Much like before the advent of the smartphone, Dr Menouar says, many of the potential applications haven't even been imagined yet.

Standards, of course, are important to ensure compliance. It's to make sure that a Toyota will be able to connect with a Volkswagen. And it takes time for these QATAR TODAY > JUNE 2015 > 73

development > tag this standards to be developed, improved and validated, Dr Menouar says.

A Roadside Unit used for vehicle-to-infrastructure communications that has been developed by QMIC.

"But ITS doesn't just rely on manufacturers and their internal decisions. It needs involvement from public authorities who have to put in regulations governing spectrum allocation, privacy issues, etc."

DR HAMID MENOUAR

Connected Cars Product Manager and R&D Expert, QMIC

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First in the region QMIC is one of the few companies in the world, and the only one from the region, that has been continuously involved in all of the ETSI-led Plugtests so far, the fourth edition of which took place last March in the Netherlands. "Though the standards aren't complete yet, parts of it have been released and have been found to be stable enough for deployment. We have seen announcements from Volkswagen, Toyota and General Motors about bringing this technology to the market starting 201617," he says. "People like us, who have been part of the process, can get the advantage of early implementation."

The ITS Plugtest this year attracted over 20 different entities including competing car makers and technology suppliers who, Dr Menouar says with a hint of pride, are obliged to work together to make bring this technology out of the labs and into the streets. "This is not something that you can work on in your private lab and try to release before your rivals. The progress has also been slow because this hasn't been of the highest priority till recently.

Within the industry now there is a sense of urgency because the technology is so close to going to market. There is better motivation because safety systems in cars have reached a plateau after steadily improving over the years. So the cars of today are no different from the cars of last year," he points out.

Additionally, until now governments hadn't shown signs of wanting to develop the relevant infrastructure to support ITS. And while there are potentially huge returns both in terms of economics and saving lives, there isn't a clear direct benefit for car makers. Because unlike the airbag, for example, this hasn't been mandated.

While the automobile industry has been working together for over a decade on this technology, many of the other factors, Dr Menouar says, are changing. It has taken time but not too much when you consider how many different stakeholders would have to work together to implement it. "Even an independently developed technology takes at least three years to go from proof of concept to deployment," he points out. "But ITS doesn't just rely on manufacturers and their internal

decisions. It needs involvement from public authorities who have to put in regulations governing spectrum allocation, privacy issues, etc."

EC Mandate Now the European Commission has issued a mandate that obliges all countries there to implement ITS. They will start preparing the infrastructure and the manufacturers will follow. "This is about to happen in the US as well," Dr Menouar says, and mentions how the spectrums have already been allocated on both the continents. In the Middle East, meanwhile, no such allocation is being talked about. Things are slow but there is still time to get ahead of this, he says. QMIC is in talks with ICTQatar but regulators from other GCC countries also need to get in on the conversation as soon as possible.

"Quick actions are needed because right now there are already differing standards in Europe, America and Japan. The European and American standards are very similar but the small differences they do have mean that communication between them isn't possible. Worse still, they create interference for each other." It's obvious now why we can't delay for long. Unless we decide now what standards we'd like to follow (and impose these on all imported vehicles) it'll be too late to deploy. "We have to be ready before the technology reaches the markets – which will be in another two to three years." With this timetable in mind, QMIC is launching a pilot project with Qatar National Research Foundation, during which over one hundred RSUs and onboard units will be deployed and extensively tested in Doha. The fact that Qatar is compact and "under construction" is of great advantage in this scenario. "We can have quick implementation. And also we don't have to deal with legacy systems like in Europe where 5.8 Ghz is used for automated tolling systems and creates a small interference. Since we are starting from scratch, we can plan and execute this quickly and efficiently," Dr Menouar says.

As with many forward-thinking projects we have been privileged to report on over the past few years, there is an optimism here inspired and driven by Qatar's blitzkrieg of a transformation. QMIC seems poised and ready to launch Qatar into the future

technology > tag this

76 > QATAR TODAY > JUNE 2015

BITE-SIZED BYTES

QATAR TODAY CHATS WITH THE TEAM BEHIND DOHA HEAT AND THE NEWLY CREATED GINGER CAMEL MEDIA NETWORK WHO OFFER AN EXCITING NEW WAY FOR INDIVIDUALS AND COMPANIES TO REACH OUT TO THEIR AUDIENCE.

QATAR TODAY > JUNE 2015 > 77

technology > tag this

L

"This also opened up the opportunity for us to set a precedent for the region in offering our services to others who might be thinking of starting a podcast but didn’t have the equipment or expertise."

ANDREW CLARK Producer and Host Doha Heat 78 > QATAR TODAY > JUNE 2015

aunched just under a year ago, Doha Heat has published close to 200 podcasts with guests from backgrounds as varied as filmmaking and dentistry to banking and adventure sports. For Producer and Host Andrew Clark, who took over the project from its creator Jon Savage almost immediately after it was first launched, it was an opportunity to do something that the region, and particularly the country, hadn’t seen before while simultaneously serving the community. “From the beginning our vision was storytelling. Get people living here to share their experiences and hence make connections,” he says. As it so happens, Doha is particularly rich with narratives of people from all corners of the world. “I never thought I would have the opportunity to meet so many interesting people telling stories which are often never told anywhere else.”

Having grown up in New York, Clark had become used to the deep connections he was able to forge with his community of friends, colleagues and neighbours. “I found myself missing these connections here and could see many others yearning for this as well. Maybe the multi-cultural nature of the community might be seen as a barrier for some. And through this podcast, we wanted to break down the barriers by having people share aspects of their life that might be universal – being a lifelong expat or a small business owner, for example,” he says.

Eventually, patterns and routines seemed to emerge. “It was completely by happenstance. I was regularly inviting these different personalities who were experts in their own fields and it evolved into weekly segments like ILoveQatar’s Qatar Events which I hosted along with Kev Waller and Hot and Healthy with Nicole Van Hattem,” he says. But it was moving away from what Doha Heat set out to do and the audience noticed. “We realised that all this diversity of content was good but might be overwhelming.

Some of our listeners were not as interested in life coaching as, say, local business news. We reflected on this and decided to make these regular segments podcasts in their own right. This also opened up the opportunity for us to set a precedent for the region in offering our services to others who might be thinking of starting a podcast but didn’t have the equipment or expertise.”

Umbrella of podcasts Thus Ginger Camel Media Network was born, an umbrella of podcasts, each with their unique niche, that allowed Doha Heat to focus on what it does best – connecting people and creating a live archive of stories that can be accessed anytime and from anywhere.

Clark is enthusiastic about this new arm of the business, equally for content providers, listeners and sponsors. “I have found that a lot of people are sold on the idea. And we have already had some international recognition with the Platinum AVA Digital Awards (one of the two winners for innovative digital content in the region) which has given us a certain credibility. Yes, there are still some who aren’t clear about the concept and I have to tell them it’s like recorded radio that is always accessible,” Clark laughs. But he is certain that Doha’s audience needs more good quality content tailored to their own needs. “We are in talks with QFRadio to provide content and also with some hotels and airlines. There is a realisation that people are starting to click on such digital content more and organisations can benefit from it.”

Choosing a guest was always a gamble and it’s likely to become even more so, Clark says. Someone could be naturally articulate but put a mic in front of them and they freeze up. “Or conversely, you read an email and worry about how this person is going to sound during the recording but they end up surprising

Prior to recording a podcast with ILoveQatar's Kevin Waller

you. It happens,” he says, “but that’s the charm of podcasting. That it is less scripted and the human element comes through because we allow people to be their natural selves. It comes down to screening people ahead to get a sense of their story and how comfortable they are talking about it. Now that we are trying to broaden the types of personalities we bring in, it might become harder.”

But this conversational style is the easiest way to get any message across.

“Especially for advertisers,” Clark says.

“We can help them pitch the product in a softer, subtle and light-hearted way, which appeals more to the online audience.

They also become more approachable because the audience hears them talk about themselves and what they are doing.

It’s just having a casual conversation and advertising your product in the process without being explicit.” And Clark considers it important for him to make it as fun and easy for the sponsor as possible.

“We want to make this an easy decision for them. They don’t have to spend resources in developing an expensive ad. Instead they can just come in, have a chat with the host and there is their ad. And what’s more, it’s relatively cheap with global access that isn’t time-specific.”

Innovations The Ginger Camel Media Network team is also exploring how companies can use podcasts internally. It is often true for large companies, especially those in Qatar

The Ginger Camel Media Network team is also exploring how companies can use podcasts internally. It is often true for large companies, especially those in Qatar with huge turnover rates, that the huge staff rarely gets to know much about each other.

with huge turnover rates, that the huge staff rarely gets to know much about each other. “We wanted to work with these companies to create podcasts featuring different employees talking briefly about their life, their interests and their role in the company. This audio can be embedded in internal mailers and sent out regularly.”

No managerial team is going to deny the benefits of having a close-knit community of employees.

Doha Heat was a pioneer of sorts and a couple of new shows have taken inspiration from it (not necessarily in the podcast arena). It’s obvious, like Clark says, that there’s demand for engaging content and a way for the different

SCOTT HOUSTON Sound Engineer Doha Heat

communities to forge connections. “Doha Heat had close to 5,000 downloads across all platforms in April and May (first half ) and Ginger Camel Media Network as a whole saw close to 7,000 downloads in April and close to 3,000 in the first 20 days of May. This is a good number and we are starting to find our feet in marketing our individual podcasts.” Getting listeners to subscribe is not easy, he says. “Every day when we go online we are bombarded with so many ‘Enter your e-mail ID here’ and Click here to join’. There is a fatigue.

You think, ‘You want to subscribe to another thing?!’ So how do we encourage people to sign up? By giving them a way to relate with what we are saying. We created funny memes and graphics about listening to a short podcast when you are stuck in traffic, for example, and people respond to that.”

But once they are subscribed, it’s easy to see why they stay. We had the opportunity to sit in and watch how one of the podcasts featuring Qatar Events was made and it was breezy and fun while being informative.

The easy banter between Clark and Waller was great to listen to and the plugs and promotions seem more like suggestions from a friend. Sound engineer Scott Houston, who has a penchant for creating horror movie sound effects, closely monitors the recording and polishes it till it’s ready to be published, often on the same day.

The whole atmosphere is that of a bunch of friends gathering over coffee to chat and crack jokes. Who would not listen to that?

QATAR TODAY > JUNE 2015 > 79

green scene > tag this

Green Signal

"I believe that children are our future. Teach them well then let them lead the way..." sang the late Whitney Houston. The next generation is clearly the pillar on which the future will stand. It becomes imperative to hand them the tools to build a healthy environment."

By Abigail Mathias

A

s part of its Green Programme for Schools initiative, Qatar Today has continued to engage with students and teachers across the country to understand what they are doing to further the green cause.

Asna Nafees, the principal of DPSMIS, (Delhi Public School - Modern Indian School) Doha says, "Integrating environmental responsibility in children connects them to the world around them, helps them see the interconnectedness between social, economic and ecological issues. They learn to improve and sustain the environment and become more enthusiastic and engaged in learning.

It instills sensitivity and respect for the environment."

Many initiatives The school has held a number of ongoing environment-friendly projects for its students. The principal believes that it is of utmost importance to impart these values, particularly in this region where consumerism tends to be on the higher side. "Children in this part of the world come from nuclear families. They have every privilege and advantage and have not experienced the lack of any resources.

Hence it becomes a challenge to instill the values of environmental responsibility," says Nafees.

While DPS prefers to lead by example, Ali Bin Abi Taleb Independent Preparatory

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School for boys prefers to engage students in activities that encourage them to think of sustainability. Under the leadership of Fahd Ahmad Al Maslamani, the school principal, the school has taken many initiatives that focus on recycling and taking care of the environment.

Ehab Tantawi, coordinator for the school, says, "Our vision is to create a green school. We have already started instilling these values in the children and the Green Programme for Schools is only one of the tools which helps us to carry out our task."

"We recycle the waste water used for washing the sinks and refrigerators installed on the premises. This is reused for watering the gardens at the school through the use of a water treatment unit. We not only made use of this project to measure wasted water in our school, but it also enabled us to do it in other independent schools," he adds.

Wins accolades For its part, DPS-MIS School in Wakra, has already won the maiden Environment Minister's trophy. The principal says, "We retain the Ambassador trophy for sustainable environment. Ours is a paperless school where all the circulars, assignments, notes and report cards are uploaded on the website regularly."

Students are regularly encouraged to help further green causes. They recently celebrated World Environment Day where slogans to help mother nature were encouraged.

ASNA NAFEES

Principal, DPS-MIS, Doha.

Students of Ali Bin Abi Taleb school participate in various recycling initiatives.

This is the first year that DPS-MIS has associated with the GPS team. Nafees says, "Through this programme we are hoping to enhance the awareness levels of our student and parent community." Parents do make up a strong ally in the nurturing of values such as sustainability.

Tantawi believes that each of the school projects on green causes go a long way in fostering the right attitude in students. He says, "Our recycling initiatives have a great impact on our students. They have become aware of the importance of water recycling.

They have also been able to create new initiatives of their own towards recycling."

Re-cycling e-wastage Under the supervision of the deputy director for academic affairs, Azzam Abu Haniah, the GPS initative has been active in many ways in this school for the past two years. Tantawi adds, "We secured first place in the best environmental innovative project – the water condenser and desert AC. Besides this we still encourage the use of informative posters on reducing water and electricity usage."

Re-cycling electronic waste products was another year-long activity taken up by this school. It saw the students create a video

concerning the importance of recycling.

In May this year the school launched a fair showing the students' fascinating achievements in the field of electronic waste products. Many were honoured with certificates and prizes.

Tantawi explains, "The students have become aware of the dangers of electronic waste through lectures introduced by Friends of the Environment Centre."

Through this the students also were able to carry out small projects to recycle electronic waste. They used compact discs to make photo albums about their activities in the field of recycling. The discs were also used to create an invitation card to attend a recycling waste fair while a few others were creatively used for making curtains. The students also designed a bookcase using the interior of a damaged computer hard drive.

It isn't just schools that can make a difference. We all need to do our part.

Tantawi believes that we also need to focus on engaging the general population in Qatar.

"It is important to put up signs and posters both in English and Arabic to let people perceive the importance of paying attention to our public gardens and green spaces. We ought to create an awareness campaign to protect our parks in Qatar," he says

ABOUT GPS This second edition of Green Programme for Schools is a nationwide initiative spearheaded by Qatar Today and supported by ExxonMobil, which aims at inculcating green values in children by making environmentally-sound habits a subconscious part of their everyday life.

Several private and independent schools are part of this year-long programme which ends in an award ceremony recognising students who have done incredible work in encouraging and promoting green practices.

QATAR TODAY > JUNE 2015 > 81

affairs > tech talk

Vodafone Qatar announces 4G+ network Vodafone announced they have the fastest data network in Qatar with the widest 4G+ coverage, following substantial upgrades and expansions of their 3G and 4G network.

Left to Right: Marc Norris, Chief Commercial Officer; Dalya Al Khalaf, Strategy Director; Ramy Boctor, Chief Technology Officer at the Vodafone Qatar press conference

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hough Vodafone is the not the first to launch the 4G+ network in Qatar, they claim to have arrived with a bigger and better network than what is being provided by the incumbent. After a countrywide upgrade which saw an increased 3G and 4G coverage, with a doubling of their 3G capacity and tripling of their 4G capacity, Vodafone Qatar's Chief Technology Officer Ramy Boctor said that 70% of their 4G network sites in the country are now 4G+ capable, giving them the widest 4G+ coverage in Qatar with speeds of up to 150 Mbps and an average 30Mbps. The first areas to benefit from this upgrade started with Al Aziziyah, Al Rayyan, Murayk, Salwa Road, Bin Omran, Forousiya and Industrial Area. This was quickly followed by West Bay, The Pearl-Qatar, Westbay Lagoon, all of greater Doha as well as Wakra, Wukhair and Al Shahaniya.

One billion people access Internet.org

Facebook's Internet.org project expanded into Malawi, the latest country whose citizens will now be able to access selected web services free of charge.

Wearables for Good

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he British multinational semiconductor and software design company, ARM is teaming up with Unicef and design strategy firm Frog to create purpose-built, health- and educationfocused wearables for distribution in developing nations and emerging markets. ARM is launching a challenge, calling "developers, designers, community partners, and problem solvers to design a wearable device that offers a cost-effective, efficient, and sustainable solution to pressing maternal, newborn, or child health problems".

The contest will run for six months and two contest winners will see their designs built, with coaching from Frog, and distributed by Unicef, using ARM-based computer hardware.

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ith this launch Internet.org is now available to one billion people – a major step toward CEO Mark Zuckerberg's goal of linking up the next 5 billion people to the Internet.

With criticism of Internet.org's violation of net neutrality mounting, Facebook announced that it would open Internet.org to anyone who meets the programme's low-bandwidth guidelines, allowing for more free apps on the platform. It is also experimenting with a number of ways to expand web access to underserved areas, including the use of solar-powered drones which can beam Internet access down to people from the sky.

MICROSOFT OPENS UP PREVIEW OF SKYPE TRANSLATOR Previewed late last year, this feature, which translates a conversation conducted in different languages in real time, has now been made available for free trial. Microsoft has announced that this is still a pre-release feature and is only available for PCs and tablets running Windows 8.1 and Windows 10 preview. Microsoft is using this preview phase to gather feedback from users as it expands the features including support for two new languages, Chinese (Mandarin) and Italian, in addition to English and Spanish. Besides the four spoken languages, Skype Translator offers support for 50 languages when you're instant messaging.

Blackberry announces downsizing

After slowly recovering from a loss-making phase and posting an annual profit last year, Blackberry announced that it would be making cuts in its workforce.

T

he company released a statement announcing the layoffs but didn't indicate exactly how many of its current employees will be affected. This is seen as a move to maximize the company's ability to make its device business profitable. "We have made the decision to consolidate our device software, hardware and applications business, impacting a number of employees around the world," the statement read. Meanwhile the company, which is no longer in the red, is showing tangible signs of recovery with plans to release four new devices this year and prioritization of its software business.

QATAR'S M-GOVERNMENT PLATFORM GETS BIGGER All the e-services and information on the Hukoomi portal can now be accessed on smartphones and tablets through the new mobile app. The Hukoomi Mobile App, available free of charge on Apple, Android, Windows and Blackberry platforms, was launched by ICT Government Programmes of the Ministry of Information and Communications Technology.

"This channel between Hukoomi and its users, targeting faster and easier e-Services and information being made available and accessible anytime anywhere, is part of a continued improvement of the portal," said Tareq Alemadi, Manager, e-Government Portal Department.

Currently, Hukoomi contains some 4.4 million pages, has over 50,000 subscribers and is visited around 500,000 times a month by visitors from over 180 countries; but only 24% log on to the portal though mobile devices. Mobile users can now view and directly download other government mobile applications, access all information and services available on Hukoomi portal through a unified search, and submit feedback and suggestions for better services.

"Jeff Bezos is opening a retail store and owns a newspaper.

Turns out everything we thought about the Internet is wrong."

AARON LEVIE CEO of Box

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affairs > tech talk

D Travel:

Digitised, personalised Just in time for the summer holiday rush, our technology contributor highlights regional trends in the online travel sector.

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ecades ago there was just one way to plan your travel – visit a travel agent. You would go to the agency, browse through a few brochures and a travel agent would help you plan your holiday, including your hotel bookings, flights, transport etc. But with the arrival of the Internet a traveller has the control of how they want to plan their journey. With so many Online Travel Agents (OTAs) you are no longer limited to a few options. With a click you can book your flights, hotels, transfers, travel insurance – the list goes on. Agoda, Expedia. Booking.com, Skyscanner and ClearTrip are some of the many OTAs that can help a person make their travel plans.

However, it doesn't mean that the travel agencies on the ground have disappeared.

They still cater to a lot of corporate companies and individuals.

Travellers in the Middle East have also caught up with the online booking trend. With a young population, many OTAs, airlines and hotels are encouraging people to use their online platforms to plan their travel. Online travel bookings in the MENA region increased by 10% in 2014. According to YouGov data (which surveyed 22,686 online respondents,

MONTHLY VISITS TO QATARAIRWAYS.COM ON DESKTOPS IN THE LAST SIX MONTHS

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7.5 M 5M

Source: similarweb.com

all MENA residents, in 2014), 31% of those surveyed booked all of their travel requirements online, an increase of 10% over 2013. Of those surveyed 25% used their smartphones to book hotels online while mobile usage to access online travel guides or to book leisure activities rose by 6%. Spontaneity in the decision-making process for choosing a destination has increased by 11% according to the YouGov data, thanks to upgraded technology.

Interestingly, travellers from Qatar form the highest proportion of people who checkin online. The profile of the person who usually checks in online from Qatar is an Indian aged 40+ earning around $2,666 (QR9,700) and is married without children.

In a study conducted in 2014 by Expedia the online travel website, UAE travellers are the most dependent on mobile devices with 86% saying their smartphone is "very important/critical" versus 76% of global travelers who say the same. 89% of UAE travellers always bring a smartphone on business trips, and Emiratis are the most likely of all countries surveyed to always bring a laptop on leisure trips. These devices effectively serve as a concierge, guide and companion for travellers, who rely on smartphones, tablets and other mobile technologies during every stage of their trip. On the whole, more than one-

third (35%) of the world's travellers use their smartphones more when they travel than they do at home.

The online savvy travellers are not only active on the OTA websites but also many of them prefer directly visiting their preferred hotel or airline website for booking their itinerary. For example, the Qatarairways.com website receives approx. 6.2 million visitors on a monthly basis. Qatar and Saudi Arabia combined contribute to 12.5% of this traffic, i.e., 775,000 visits a month. We don't know how many of these visits convert to a booking; however, these numbers are encouraging signs of growing interest in online bookings in the region.

As online booking websites have increased in popularity, whether it be via comparison websites or directly through the source, the market is extremely competitive. As a result, most of the OTAs, hotels and flights have their own loyalty programmes tempting customers to book with them. An example is Qatar Airways' QMiles.

The travel sector has a major contribution to the e-commerce boom in the Middle East region. Thanks to the online capability that has empowered the consumer to take control of their travel plans

BY KAPIL BHATIA

ABOUT KAPIL Kapil is a digital professional in the Financial Services Industry. He is an expert in Digital Channels, Payments, e-Business, Cross Sell and development of Digital Marketing strategies, with a sound Information Technology base. He is also a founder of a digital/tech blog called Tfour.me that is focused on Middle East

QATAR TODAY > JUNE 2015 > 87

business > auto news MORE QATARIS ENJOYING MINI FUN

Alfardan Automobiles, the official MINI importer in Qatar, announces 6 % sales growth for the British icon in Qatar.

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oth the MINI 3-Door Hatch and MINI 5-Door Hatch claim the top spots for MINI sales, with a 6% sales increase for the brand during the first quarter of this year compared to the same period in 2014. Ihab Allam, General Manager of Alfardan Automobiles, commented: "This is an exciting time for MINI in Qatar, with the sales increase being testament to the care and attention Alfardan Automobiles gives its MINI customers. We have seen the British icon's popularity grow over the years, and with some of the best-in-class models like the MINI Hatch, we are sure this upward trend will continue well into the future. We strongly believe in this brand's success in Qatar; with year-onyear growth we have recognized the potential of MINI in this market and because of that we built a standalone MINI showroom in one of Qatar's most modern and stylish areas, a fitting home for the new MINI." With a limitless variety of equipment and accessories brought in through the MINI Yours programme, customers can customise myriad options to reflect their own personality and style. The wide range of exterior paint finishes and alloy wheels, upholstery variations and interior colour schemes, trims and colour lines, as well as the numerous MINI-specific options such as mirror caps, additional headlamps, roof decor and graphic elements create almost limitless options for making every MINI a unique made-to-measure creation.

AUDISUPERFAN GETS A RIDE OF A LIFETIME AT AUDI TT LAUNCH One lucky social media follower was treated to a special experience by Audi. The catch: he had to agree to it before finding out what it was.

Rashid bin Ahmad was chosen as the #AudiSuperFan because of his extensive engagement with the brand and was treated to a full driving experience behind the wheel of the brand new Audi TT on the Dubai Autodrome track.

Then Rashid was whisked off to the big surprise – to take part in the official Middle East launch of the new Audi TT at SkyDive Dubai. He experienced what it was like to accelerate from 0-100 km/h in 4.6 seconds, but from a different perspective; by jumping from a plane at 14,000 feet above Dubai, in an event that kicked off the official launch of the new TT in the region.

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Hyundai Motor celebrates Sonata's 30th anniversary The Sonata, which made its debut in 1985 in Korea, has played a pivotal role in Hyundai's growth and reputation, especially in the Middle East and Africa, where it has sold over 300,000 units since its launch in 1988.

A LEGACY TO GET BEHIND An all-new design and exciting handling is at the heart of the new generation Subaru Legacy as it surpasses 25 years on the production line.

M During its 30-year history, the Sonata has been constantly reinvented with a fresh new look and innovative technologies, as evidenced by the most recently introduced All-New Sonata 7th Generation. National Car Company, the sole distributor for Hyundai vehicles in Qatar, launched the All-New Sonata mid-size sedan in October last year which, true to Hyundai's acclaimed "Modern Premium" brand direction, offers modern styling, excellent performance, and practical application of the latest Hyundai technologies. It is the second model to have been designed using Hyundai's Fluidic Sculpture 2.0 philosophy boasting dramatic looks and a design concept that focuses on "Inner Force".

annai Auto Group announced the arrival of the award winning Subaru Legacy to Qatar. Subaru brings out the 2015 Legacy to vie in a highly competitive midsize sedan segment; it was already rated the Best Midsized Sedan by Consumer Reports in North America. Celebrating 25 years on the production line, the exterior receives a facelift in this all-new edition with a muscular and contemporary look. Roomy interiors, advanced safety technology, a central touch screen, multifunction display with Bluetooth capability and dual-zone automatic air-conditioning with an anti-dust filter are some of the standout features. With a standard 2.5-liter four-cylinder or optional 3.6-liter six-cylinder engine, mated to a continuously variable transmission, it is one of the only midsize cars offered with all-wheel drive as standard.

Nissan at UEFA Champions League

As a worldwide leader in electric vehicles, Nissan put electric at the heart of its UEFA Champions League Final activity on June 6.

As part of its innovative partnership with Europe's most prestigious football competition, Nissan aims at enriching the fans' experience of the tournament and leaving a lasting legacy for the people of Berlin. As the official automotive partner of the UEFA Champions League and producer of the biggest-selling electric vehicle in the world, Nissan supplied over 100 electric vehicles to UEFA and associated sponsors to transport guests and officials in the build-up to the Final in Berlin. To further support this, Nissan installed 129 electric car charging stations around Tegel International Airport, various Berlin hotels and the Olympiastadion, several of which will remain as a lasting legacy for the city.

The energy created at the UEFA Champions Festival by fans was converted into an equivalent amount of kilowatts and harnessed to help power the UEFA Champions League trophy to the Final at the Olympiastadion. Participants who generated the most kilowatts received tickets to the Final as well as an exclusive opportunity to accompany the trophy on its journey from the UEFA Champions Festival to the stadium in a specially designed Nissan e-NV200 allelectric van on match day as part of the UEFA Trophy Parade.

QATAR TODAY > JUNE 2015 > 89

business > auto news

PHANTOM LIMELIGHT PREVIEWED IN DOHA Limited Edition Rolls-Royce Phantom Limelight Collection, comprising only 25 cars, is now available to order in Qatar.

T MOHAMED KANDEEL

Chief Operating Officer Alfardan Group – Automotive Operations.

he Phantom Limelight Collection, which debuted at the 2015 Shanghai Motor Show, has now arrived in Qatar.

Bespoke designers at the Home of RollsRoyce in Goodwood have used their deep understanding of the habits and behaviours of Rolls-Royce Motor Cars clientele to create a unique collection that appeals directly to the busy lives of those who spend their lives in the public eye and on the world stage. RollsRoyce Motor Cars Doha, the sole authorised dealership of Rolls-Royce Motor Cars in Qatar, revealed the exclusive collection to its discerning clientele at a private event held at the Kempinski Marsa Malaz. Commenting on the availability of the Phantom Limelight to its elite clientele, Ihab Allam, General Manager at Alfardan Automobiles, said: "It is a great honour for us to host such an exclusive event for our discerning customers,

showcasing the latest Bespoke masterpiece created by Rolls-Royce Motor Cars. Being a brand synonymous with luxury, Rolls-Royce Motor Cars resonates well with our affluent Qatari clientele and the Phantom Limelight is the perfect accessory to complement their busy lifestyles."

The "Phantom Suite" comprises unique personalised rear door panniers with concealed compartments, which can be personalised to suit whatever particular possessions are required for the occasion, and a new luxury seating configuration.

The exterior of the Phantom Limelight is a rich but stealthy Gala Blue and features a Seashell and Navy Blue hand-painted coachline with a diamond motif, creating a three-dimensional illusion. The unique ninespoke alloy wheels complete the grandeur look of the Phantom Limelight Collection.

Qatar welcomes Tivoli 2016

With its dynamic urban design, Tivoli features an all new platform, new body and a new engine, and competes in the global compact SUV market.

Tivoli is the first new model to be launched following the merger of SsangYong & Mahindra and is the result of 42 months of development and an investment â‚Ź280 million (QR1.2 billion).

According to a statement issued by the company, the car will compete strongly on design and reliability, safety, interior space, practicality, as well as the availability of all-wheel drive which will differentiate it from other SUVs in the sector.

The model also distinguishes itself with its passenger safety features including seven airbags, multi-function Electronic Stability Program, Active Rollover Protection, Brake Assist, Hill Start Assist, Emergency Stop Signal, tyre pressure monitoring system and a warning reminder on all five seat belt positions.

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business > marketwatch World's thinnest lens

Qatar Optics recently announced its collaboration with Tokai, the renowned Japanese manufacturers of the world's thinnest ophthalmic lenses.

QT BUSINESS EXCELLENCE AWARDS TO BE HELD ON JUNE 16 Qatar Today, the oldest and the most read English business and news magazine in the country, announced the first Qatar Today Business Excellence Awards, to be held on June 16, 2015 at the Hilton Hotel, Doha.

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eld under the auspices of Qatar Chamber, the awards will put the focus on the best performers on the Qatar Stock Exchange (QSE).

Qatar Inc has shown resilience, innovation and foresight to grow in spite of several challenges. The Top 10 corporations will be from the 43 listed companies. on QSE. Oryx Advertising Company, Publisher and Editor in Chief, Yousef Al Darwish says, “Qatar is continuing to invest in infrastructure, with planned spending in the region of $205 billion mainly on roads, stadiums, and rail projects. Despite the recent drop in oil prices, Qatar will execute majority of its projects as planned.

This is possible due to the vision of our leadership, HH the Emir, Sheikh Tamim bin Hamad Al Thani. We are all grateful to this farsighted vision of both the Emir and the Father Emir.”

Maserati is the main sponsor of the

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event. Maserati and Qatar Today will also give away the Maserati Qatar Today Young Achievers Award. This award will be given to an “influencer and role model who is pushing boundaries and changing perceptions in Qatar.”

Charly Dagher, General Manager of Alfardan Sports Motors, the official Maserati importer in Qatar, said. "We are keen on being part of our community, encouraging young role models who can make a difference in the future of Qatar.”

Amadeus, leaders in travel technology, is the support sponsor. “We hope the award will motivate the business community to encourage more participation,” said Waqif Al Wahidi, General Manager, Amadeus Qatar.

Gulf Marketing. CEO, Salah Janahi said: “The Awards ceremony is a great opportunity to meet CEOs and executives of leading companies in Doha through this platform.”

With over 75 years of experience in the global market and an active research and development department, Tokai was recently able to manufacture a lens with an index of 1.76, also considered the thinnest ophthalmic lens available. This revolutionary product is 74% thinner and lighter than other conventional ophthalmic lenses. Made of innovative materials that allow flexibility, the Tokai 1.76 can easily be partnered with rimless frames, allowing people with the higher prescriptions to enjoy aesthetically pleasing frames and lightweight lenses that offer superior vision. Qatar Optics is one of the leading eyewear retailers in Qatar with over 26 years of experience in the local market and over 15 branches in Qatar and Beirut, in addition to a wholesale office in Dubai and Beirut. The Tokai range is available at all Qatar Optics branches.

Landmark opens 21 stores in Gulf Mall

Landmark Group recently announced the opening of 21 new stores in Qatar's Gulf Mall, taking its store count in the country to nearly 70 and total retail area to almost 806,680 square feet.

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conic, the group's own brand, is launching its first store in the country in Gulf Mall. The brand is a one-stop fashion destination offering trendy fashion apparel, footwear, beauty products and a host of accessories for men, women and children. The brand houses internationally renowned brands like Paul's Boutique, UCLA and UMM amongst others. Gulf Mall will also host the Group's newest homegrown brand SportsOne, a multi-brand sporting gear retail destination. Additionally, Landmark Group has announced the launch of three new popular fashion franchise brands Newlook, Koton and Yours at the mall. These fashion offerings will be complemented by a host of footwear and accessories brands being introduced for the first time: Steve Madden, Carpisa, Dumond, Nose and Pablosky.

Vipen Sethi, CEO, Landmark Group, said, "Qatar is an extremely important market for us as we look to expand our regional footprint. Gulf Mall will be a significant addition to the country's retail landscape and we are delighted to be anchor tenants at the mall."

World of colour

Aspinal of London is the quintessential English luxury lifestyle brand offering designer handbags and purses, wallets and luxury leather gifts.

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his season's strong mustard wallets and office bags provide that perfect pop of colour. The brand has built the finest reputation for creating a range of quality men's leather wallets. Each wallet is individually handmade by master craftsmen to the highest standards using age-old traditional skills handed down through generations. This ensures that every wallet will be a pleasure to own and use for years to come.

FNAC OPENS FNAC, the leading French retail store renowned for diverse offerings, has opened its first outlet in the Middle East at Lagoona Mall. The event was held under the patronage of HE Minister of Education and Higher Education and the Secretary General of the Supreme Education Council Dr Mohammed Abdul Wahed Al Hammadi, in the presence of HE Minister of Culture, Arts and Heritage, Dr Hamad Bin Abdulaziz Al Kuwari; Sheikh Khalifa Bin Jassim bin Mohammad Al Thani, Chairman of the Qatar Chamber; Rabia'a bin Mohammad Al Ka'abi, representative of the Ministry of Education and Higher Education; and Manuel Biota, FNAC's VP Franchising and New Format of FNAC Group, along with key members of the Qatari community.

Founded in 1954, FNAC is a globally recognised retailer with stores worldwide including Europe, South America and North Africa. Doha will be the region's first destination for the concept store that has entertained audiences globally and will boost the retail brand's expansion strategy in the Middle East in partnership with Darwish Holding. Commenting on the new venture, Bader Al Darwish said, "FNAC is distinguished worldwide for its contribution to promoting global cultures and bringing people together, and we are delighted to be joining forces with them in their ambitious plans for the Middle East."

QATAR TODAY > JUNE 2015 > 93

business > marketwatch

Domasco launches GAC Motor in Qatar

By Karim Emam

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oha Marketing Services Company (Domasco) has officially launched the GAC Motor brand in Qatar during a special function held at Marriott Marquis in the presence of Len Hunt, President of Al Futtaim Group Automotive, Colin Cordery, Regional Managing Director of Al Futtaim Group, Steven Wang, GAC Deputy General Manager, and Sheikh Fahad bin Hamad bin Jassim Al Thani.

Faisal Sharif, Managing Director of Domasco, said: "Domasco today reiterates its strong position in Qatar by introducing one of the world's fastest-emerging automotive brands to the local market."

Domasco launched three new GAC Motor models: the GA3, a compact sedan; the GA5, a mid-sized sedan; and the GS5, an urban SUV. "With each of GAC Motor's three models already having the highest 5-star rating in the C-NCAP safety test, the brand is already foremost in passive safety. This combined with an industry-leading insurance, warranty and service combination will present a new and compelling proposition to car buyers in Qatar," commented Andrew Parrott, Sales and Marketing Manager at Domasco.

He added: "Also we are currently processing the setting up of an agency in Street No. 43 in the Industrial Area, and a group of maintenance service centres in Al Khoor, Madmak and Duhail." DOMASCO introduced the GAC Motor brand at a press conference followed by special function held at Marriott Marquis to launch their new models for the Qatari market. The brand has five models now in Qatar with two launched for the first time last month at the ceremony. Subsequently the exclusive GAC Motor showroom opened at Salwa Road.

"The Qatar market is the window to the Middle East for us, we are looking forward to building strong relations with companies here," said Steven Wang, Deputy General Manager of GAC Group.

He explained that they are entering the Qatari market in competition with the big names in the automotive world, providing

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STEVEN WANG

Deputy General Manager, GAC

customers the same quality at lower prices and offering a variety of models of cars that suit everyone.

He noted that the company began selling its products in Kuwait and the UAE and Iran. It is expected to expand in Saudi Arabia, Bahrain and Lebanon.

He added : "In 2011 GAC broke the record of China's best-selling car and has seen remarkable growth in sales by 92.2% in 2012 – and this is prominent evidence of the quality and reliability of this car". The parent company of GAC Motor was established in 1997 and is based in Guangzhou, China.

The company sets itself apart from most other Chinese manufactures in that it has strong partnerships in the form of joint ventures with car manufacturers such as Honda, Mitsubishi, Toyota, Fiat, and Hino.

Capitalizing on the years of experience of producing cars for other brands, GAC Group launched its own brand, GAC Motor, in 2007. "GAC Motor has already been launched in Kuwait and the UAE, represented by very prominent automotive business groups, and has been very well received in those markets. Qatar is the third GCC market to see the introduction of this

dynamic new brand and we have very high expectations of its performance in this market," said Sharif.

"In order to ensure production of a quality vehicle, GAC Group not only uses the experience gained from working with other car manufacturers, it also sources various components of its cars from international suppliers such as the electronic stability program and engine management systems from Bosch (Germany), front brakes from Continental (Germany), front and rear bumpers from Visteon (USA), 5-speed automatic transmission from Aisin (Japan), air conditioning from Denso (Japan), seatbelts, airbags, rear brakes, and hydraulic power systems from TRW (USA)," said Wang.

GAC Motor's strategy is to introduce one new car model each year in order to have a wide enough range of cars to compete with other more established Korean, Japanese, American, and European brands.

Especially in safety performance, GAC Motor's entire range of models received the 5-stars in the C-NCAP test, making it foremost among brands in the matters of passive safety

culture > doha diary

Reaching to take charge

Women in Qatar make up a strong part of the workforce and form the vital fabric of the country. In such a scenario, a conference throwing light on how women work attracts a sizeable audience. Qatar Today goes behind the scenes of the annual How Women Work conference.

By Abigail Mathias

The core team behind the How Women Work conference.

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or the past six years, the annual twoday How Women Work conference has engaged and informed women from all walks of life, about the goals women should aim at, opportunities waiting to be seized and networking opportunities with women in high-ranking positions and many ordinary individuals just like them leading extraordinary lives.

One of the opening speakers at this year's conference was Dana Al Anzy. She is one of the first women in Qatar to have climbed the highest mountain in Africa. Al Anzy is also a member of the Reach Out to Asia Youth Advisory Board. Besides all this, she is a second-year student at Georgetown University in Qatar. Her inspiring story was tinged with personal anecdotes of how

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she needed to believe in herself first, before she could overcome such a daunting climb.

"Believing in yourself is the biggest thing you can do. After that anything is possible," said Al Anzy.

The How Women Work community was founded in 2009 with the aim of empowering women to grow and succeed, breaking down barriers and promoting understanding across cultures and genders. It brings women with aspirations and ambitions together to share knowledge, ideas and ambitions, enabling them to find ways to create their own sustainable success. The conference was held under the patronage of HE Sheikha Alanoud Al Thani.

This year's event was held from May 20- 21 at the newly opened Qatar Business

Incubation Center (QBIC). Eulalia Sequeira, member of the Networking Committee of EMRA'A, the professional women's group at ExxonMobil Qatar, has lived in the country for more than a decade and has always attended the conference except for one year when she was out of town. "It is something I try not to miss. I enjoy interacting with other delegates, participating in the different workshops and listening to the women on the various panels. It is inspiring to not just see where they are today but to appreciate the journey of how they got there," she says.

Budding entrepreneurs were able to take up the opportunity to turn their business ideas into a reality through QBIC's Lean Startup competition. The winner, Saima Bhukhari, was selected out of 17 entrepreneurs and can now partake in action-orientated teaching and coaching sessions.

The line-up of 70 speakers and pioneers at the conference included Marwa Al Ansary, Lauren Fryer, Fatima Sultan Al Kuwari and the two-time Commonwealth gold medallist, runner Liz McColgan.

"It is important for women to support one another and share ideas on how to be the best that they can be. Through openness and discussion one thought can change your path for a life time," said McColgan.

Delegates were invited to take to the stage for 90-second pitches about themselves or their business ideas. There were also 30-minute mentoring and coaching sessions offered to delegates. One of the sessions dealt with managing a busy life. Another discussed corporate social responsibility. A workshop of managing people effectively and building relationships in the workplace was held by Sherena Mistri-Yiannouka.

Hissa Al Suwaidi made her first foray into

the world of HWW when she attended the conference as a participant in 2011. Inspired, Hissa returned in 2013 strongly motivated by her desire to contribute to the conference in the capacity of a trainer.

The experience of sharing a stage with women from diverse cultures and nationalities was a chance to discover her unique voice and Hissa says that she ensures she stays in touch with the women she meets at the conference. In three years of attendance she has passed through three stages of her career, all of which have been impacted by the conferences she attended.

However, this would not have been possible if she hadn't taken the first step, which is why she recommends that more Qatari businesswomen attend. "Taking the initiative is the first step. By doing that women are going to discover themselves and decide their preferences through these conferences.

This is the most important thing for them to do."

Over the years the conference has tried to explore different aspects of the same theme.

The conference magazine is now digital and interactive, and new formats like Open Space Technology and speed workshops have been included in the schedule. Zyra Zuniga has just moved to Doha from the Philippines.

This is the first opportunity for her to connect with like-minded women in the city and share her aspirations. She said, "There's such an infectious vibe at the conference and I'm glad to be a part of it."

The "Be the Change" theme will continue with monthly workshops, the Soul Sisters Mastermind group and many other events that the How Women Work community puts on every month to keep women with aspirations and ambitions engaged

At How Women Work's #BeTheChange Left: Caroline Zeilter with Dana Al Anzy; Marwan Al Ansary

QATAR TODAY > JUNE 2015 > 97

culture > doha diary

AL JAZEERA MEDIA CAFE OPENS Al Jazeera Network opened the doors to its media cafe, an interactive experience that would give visitors a taste of the global media channel's history and operations.

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t the far end of Shakespeare Street in Katara stands the stark yet striking structure that houses the Al Jazeera Media Cafe, an eatery, a museum, a studio and an interactive zone all rolled into one. One of the network's presenters, Kamahl Santamaria, who gave us a tour of the facility, explained that the cafe was an attempt by the channel to reach out to its audiences away from the studio. Like visitors to London can opt for a tour of the BBC, those in Doha now can get a glimpse of what goes on behind the scenes of AJN. The cafe features museum pieces like the documents signed by HH the Father Emir Sheikh Hamad bin Khalifa Al Thani that established the channel back in 1996; surviving pieces of equipment from the attacks on AJN's bureaus in Afghanistan and Baghdad; letters written by cameraman Sami Al Hajj when he was detained in Guantanamo Bay for six years; and clothes worn by journalists Tareq Ayoub and Ali Hassan Al Jaber who died in the line of duty. In the interactive studio, visitors can film themselves presenting the news in a simulated newsroom setup, complete with cameras and teleprompters, and make a digital copy of it to take home. The network has said that anchors, media personalities and members of management will regularly hold meet-and-greet sessions at the cafe and also certain shows will begin filming at the studio in the cafe later this year.

A COOL SHOW For four days, young ones at the Qatar National Conventional Centre were transported to a magical world of princesses and dragons with the Disney on Ice presents Princesses and Heros tour. At the purpose-built 4,000-seat arena, characters from the blockbuster Disney movie Frozen took to the ice for the first time, skating to smash hits like "Let it Go".

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Xavi joins Al Sadd, Emir Cup 2015 winner

Midfielder Xavi Hernandez confirmed to join Al Sadd after 17 years with Barcelona.

REGGAE NIGHTS Together Bob Marley and the Wailers brought reggae to the global stage and continue to influence its evolution. The last surviving member of the original band, Aston "Family Man" Barrett, now anchors the Wailers band, who performed in Doha for one night only last month at the Sheraton.

They performed their Legends album in its entirety including hits like No Woman No Cry, Buffalo Soldier, Jamming and One Love.

It was the worst-kept secret in the history of Qatari football. With Xavi's contract with Barcelona at an end, rumours were rife about his future. Till recently, the bet was that he'll be going the David Beckham way with Major League Soccer's New York City F.C. But it turns out he has set his sights eastward. Xavi was reportedly touring Doha with his family to check out the facilities earlier this year. Analysts speculated that Qatar might be strategically the best move for Xavi as, along with playing for Al Sadd, he could train to be a coach at Aspire and potentially coach Qatar's national team in 2022. This was all pure speculation at that point until an Al Sadd official prematurely tweeted about Xavi's signing (though the club retracted the news). Last month, the announcement was made official though the details of the transfer haven't been made public. Media reports mentioned that the initial two-year deal might be worth â‚Ź10 million (QR40.5) a year to Xavi, though there has been no confirmation regarding this. Meanwhile, this is just more good news for the Al Sadd team, the newly crowned Emir Cup champions. The now 15-time winner defeated El Jaish 2-1 during the finals at Khalifa Stadium.

LORD DARZI PRAISES QATAR'S HEALTHCARE SECTOR Lord Ara Darzi is an integral part of Qatar's rapidly reforming healthcare sector and we spoke to him on the sidelines of a recent event about his views on its progress.

Member of the Supreme Council of Health, board member of Sidra and Executive Chairman of the World Innovation Summit on Health, among other things, Lord Darzi, who was awarded the Qatari Sash of Independence last year, was invited to speak at an event hosted by the Qatar British Business Forum. "It is fitting our speaker is one of the world's leading lights in the field of medicine, who epitomises the best of Qatari-British relations," commented Emad Turkman MBE, Chairman of QBBF. Lord Darzi spoke about the trends shaping global healthcare and the importance of new ideas and innovation. On the sidelines, he commented on the huge improvement in quality and safety of services in Qatar which has led to higher patient expectations. "There is an excellent team behind these reforms and they have done a remarkable job in the last five years, considering the challenges of the expanding population," he said. While mentioning that the world can learn a lot from Qatar's healthcare sector, he specifically mentioned the progress made in cancer services, primary healthcare, accident and emergency admissions and waiting times. "I was fortunate to be able to contribute in an advisory role and it's been a privilege to be a part of this growth."

QATAR TODAY > JUNE 2015 > 99

10 AM

A day in the life of...

After a quick check on the breakfast buffet, Chef Roock heads backstage as his team prepares for the day’s big event – their fully booked Friday Brunch.

Mattias Roock, Executive Chef at Marsa Malaz Kempinski

Qatar Today follows the daily routines of professionals around Qatar from all walks of life.

On Friday there are no deliveries.

All is good at the butchery – a beautiful roast is getting ready to be sent to the kitchen. The next time Chef Roock sees it will be at the brunch and it will look like this.

By Ayswarya Murthy

11:45 AM

10:30 AM

Time to check on the brunch again. As we enter the restaurant Sawa, the team is just dispersing after a quick briefing from the Restaurant Manager. Chef Roock clicks some pictures for his Instagram feed.

The pastry chef wants a word about the wedding cake that is scheduled for pick up later evening. Chef Roock kindly sent us a picture of the finished piece the next day.

12:00 Noon

12:15 PM

12:45 PM A quite lunch at the desk and paper work at his shockingly modest office.

Once things settle in, Chef Roock heads out to Al Sufra which is opening late for lunch and El Furo which is open only for dinner. Conversations are held on the go: in the lift, he promises a staff member to respond to his friend’s resume; his head chef texts him on WhatsApp about a shipment of mussels that is stuck in customs and needs speedy resolution from the suppliers; he reminds the Front Office Manager to tell guests about the Curry Night at Sawa; guests are eager to catch his eye and he asks them about their day.

15:00 PM He gathers all his head chefs and chef de cuisines for the afternoon meeting at the staff restaurant.

Chef Roock has a dinner meeting with an Executive Chef from a Kempinski in Africa that is planning on opening an Arabic restaurant.

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Dinner

One memorable interaction with Chef Roock during the course of the day was about taking pride in one's work, which can sometimes be missing in the assembly-line type F&B setup.

He shows us a picture of the buffet arrangements that he had shared with their supply manager the day before, to show him where and how exactly the tomatoes he ordered ended up. Now it’s not just a shipment number to him. It’s a thoughtful gesture, so typical of the man with whom we had just spent the entire day.