inside this issue july 2013 / Vol. 39/ Issue 7
cover story
44 Heralding a new era in healthcare
June was a landmark month in the rapidly changing healthcare landscape in Qatar. Two years on since the National Health Strategy was announced, we look back at the progress that has been made and the reforms that are imminent, including the pivotal Primary Healthcare Strategy and the roll-out of the National Health Insurance Scheme. Qatar Today talks to the big names behind these complex, ambitious and far-reaching programmes for some in-depth insight on how healthcare delivery in the country is set to change drastically.
22 India woos Qatari investments
Qatar is looking keenly at investment options in various emerging markets, and India is top of the list. How are Qatari companies planning to navigate the volatile quagmire that is the Indian economy?
30 Barwa and its Luxury Offerings
Barwa's Deputy CEO, Ahmad Al Abdulla, tells Sindhu Nair about the company's new projects, while predicting that the country will see inflation similar to that of the 2006-2008 period.
34 Unlocking the potential of Gulf equity markets
With a combined capitalisation of around QR2,910 billion ($800 billion), the Gulf markets remain small relative to the size of the GCC economies, some of which rank among the world’s top 20. Many investors are pressing for action to allow GCC equity markets to realise their potential. The question is: What can be done?
inside this issue july 2013 / Vol. 39/ Issue 7
38 Taking Wealth Management Digital
Principals from Booz & Co. explain why the wealth management sector is lagging behind in embracing digitisation and give three good reasons for changing this.
65 Wealth Creation is the Crux
Qatar Today looks at the potential for growth in Single Family Offices in the Middle East, especially Qatar, considering how over two-thirds of the private sector is made up of familyowned businesses.
68 Marhaba, Guv‘nor!
Aisha Ghanem Al Attiya from the Office of Strategic Cultural Relations at the Qatar Museums Authority (QMA) speaks to Qatar Today about how “Qatar UK 2013” will bridge the cultures while lending new perspectives.
75 Technology on the Highway
Damien Radcliffe takes a look at the alarming figures pertaining to road safety in Qatar and shows how technology will increasingly shape our daily commute, keeping us focused, connected and safe.
96 Conquering the Mountain Within
Sheikh Mohammed bin Abdullah Al Thani, the first Qatari to scale Mount Everest, opens up about the two months he spent in the shadow of the great mountain and the unexpected lessons learnt.
72 Engage Your Convictions
Deepak Kuntawala, Founder of DVK International and this year's "Global Entrepreneur of the Year" at The Indus Entrepreneurs UK Awards, talks to Qatar Today about going with your gut feeling.
and regulars 12 newsbites 26 o&g overview 20 bank notes 28 realty check 78 tech talk 82 auto news 85 market watch 91 doha diary
from the desk From being a country that was virtually unknown, Qatar’s profile has been raised to one that commands respect and has proven time and again its successful role as a peace negotiator in the Arab world. To appreciate the reforms within the country, one needs to be conscious of Qatar in its infancy when HH Sheikh Hamad took over the reins of power in 1995. While the country had its medical facilities and infrastructure in place, equal opportunities for women, sports, culture and education have all been improved. I don’t think anyone who resides outside Qatar can fathom the love and admiration the people in Qatar have for the now former Emir HH Sheikh Hamad bin Khalifa Al Thani. “How can he be a good leader, when he was after all an ‘autocrat’?” many have asked. To them there is only one reply: See the effect HH Sheikh Hamad’s abdication had on social media sites, which portray the sentiments of the tech-savvy youth population in real time. Just to get a sense of the diversity portrayed through the tweets, here are two, from a proud Qatari and a thankful expat respectively: “It’s not power, money or status that defines people. It’s their vision, leadership and wisdom.” and “In a region of turmoil, Qatar has provided our family a safe home the last 14 yrs. #ThankyouHamad”. Recently health reforms in the country too have taken a major leap in tune with the already-drafted Qatar National Vision 2030, another step taken by HH Sheikh Hamad to guide the country towards its far-reaching goals. It is on the new National Health Strategy that Qatar Today focuses this month, talking to officials to understand the steps taken to date, the most important being the all-inclusive health insurance strategy that goes live this year. As someone who has been here to witness at least some of the path-breaking transformation of the country in the past 10 years, it gives me immense pride to be in country that redefines “power”: power as a tool to improve the lives of its citizens, to bring about change, and finally be that change and abdicate at the right time to make way for the power of youth. Qatar Today salutes the new leader of the country, the Emir HH Sheikh Tamim bin Hamad Al Thani, the harbinger of change, who we hope reflects the power of youth with the maturity and far-sightedness of the old. Qatar Today also fondly celebrates the legacy of the ex-Emir HH Sheikh Hamad, and says #ThankyouHamad.
Sindhu Nair
Publisher & Editor-in-Chief Yousuf Jassem Al Darwish Chief Executive Sandeep Sehgal Executive Vice President Alpana Roy Vice President Ravi Raman editorial Editor Sindhu Nair SENIOR CORRESPONDENTS eZdhar ibrahim abigail mathias ayswarya murthy sub-editor sue eedle art senior Art Director Venkat Reddy deputy Art Director Hanan Abu Saiam assistant art director Ayush Indrajith senior Graphic Designer maheshwar reddy Photographer Robert F ALTImirano marketing and sales senior Manager – Marketing Zulfikar Jiffry ASSISTANT MANAGERS – MARKETING Chaturka Karandana THOMAS JOSE senior Media ConsultantS HASSAN REKKAB LYDIA YOUSSEF MARKETING RESEARCH AND SUPPORT EXECUTIVE KANWAL BALUCH senior Accountant Pratap Chandran distribution Sr. Distribution Executive Bikram Shrestha Distribution Support Arjun Timilsina Bhimal Rai basanta pokhrel
Published by Oryx Advertising Co WLL P.O. Box 3272; Doha-Qatar Tel: (+974) 44672139, 44550983, 44671173, 44667584 Fax: (+974) 44550982 Email: qtoday@omsqatar.com website: www.omsqatar.com Printed at: Gulf Publishing and Printing Co WLL Copyright © 2013 Oryx Advertising Co WLL
letters
QT POLL
the winning text for June's QT Poll was sent from
30237966
Powered by
SMS
Time to digitox After reading the article on Digital addiction and the need for a digital detox, I came upon an interesting offer -- a 20% discount on total bills for any guest who deposits all mobile devices upon arrival at the Al Dana restaurant, Sharq Village and Spa. Though the offer seems valid only for the month of May, this is one step towards connecting to “real” people and spending quality time with near ones without glancing at mobile devices between meals. I recommend that this offer stays! Unde Wilden
Leo in Doha It is endearing that such a big football star like Messi was in Qatar meeting young football enthusiasts. I only wish that more is done to promote sport in our schools and colleges. Gillian Byers
Thirst for art The Bidding Business was a revelation! One wouldn’t suspect (I certainly never did) that there was a thriving art scene in the Middle East, and in Doha, in particular. And considering the increasingly large sums involved, it won’t be surprising to see art being looked upon as a serious investment by Qatari businessmen and elite very soon, if it isn’t already. Jill Morrison
Qatar Inc. on a roll Ah! That time of the year again – Qatar Today’s top 10 companies. It was good to see a few new entrants on the list in addition to the usual suspects. It was also great to read opinions and perspectives from top ranking executives from these companies. Here’s to a more vibrant Qatar Exchange in the coming years and even better numbers.
33170142
Do you see the benefits of the National Insurance Scheme penetrating to the lowest levels of our society? last month qatar today poll to win a Nokia Lumia 720
should the bourses across the middle east region be consolidated?
66 YES
34 NO
experience a new era of reading Qatar Today invites readers’ feedback
Share your views about the magazine or any issue that affects you here. One lucky reader will win an exquisite MontBlanc writing instrument. Write to: The Editor, Qatar Today PO Box 3272, Doha. Fax: (+974) 44550982, email: qtoday@omsqatar.com
Aamir Halik Check out all articles of Qatar Today on www.QATARTODAYONLINE.COM www.issuu.com/oryxmags/qatartoday
Qatar Today reserves the right to edit and publish the correspondence. Views and opinions expressed in the published letters may not necessarily be the publication’s views and opinions.
follow us on www.facebook.com/qatartoday www.twitter.com/qatartoday www.qatartoday.tumblr.com
published by oryx advertising co wll, All rights reserved. qatar today is published monthly by oac, po box no. 3272, doha, qatar. subscription rate for qr. 180 per year. address for all subscription correspondence to qatar today, oryx advertising co wll, po box 3272, al hilal area, doha, state of qatar. for single copies call us on + 974 44672139 or mail to qtoday@ omsqatar.com. material in this publication must not be stored or reproduced in any form without permission. request for permission should be directed to qtoday@omsqatar.com. reprint requests should be directed to the info@Omsqatar.com. qatar today is registered trademark of oryx advertising co wll reprint requests should be directed to the info@Omsqatar. com. qatar today is registered trademark of oryx advertising co wll reprint requests should be directed to the info@Omsqatar.com.
affairs > local
Power to the youth
Qatar writes history yet again with a peaceful power transition
I
n a path-breaking move not just for the GCC but for the entire Arab world, HH Sheikh Hamad bin Khalifa Al Thani transferred power peacefully to his son, Heir Apparent HE Sheikh Tamim bin Hamad Al Thani, on June 24, 18 years to the day after he became ruler of Qatar. Addressing the nation on June 25, the day after the abdication, HH Sheikh Hamad said: “I declare that I will hand over the reins of power to Sheikh Tamim bin Hamad Al Thani, and I am fully certain that he is up to the responsibility, deserving the confidence, capable of shouldering the responsibility and fulfilling the mission.” Addressing the country a day after the transfer of power, the new Emir, Sheikh Tamim bin Hamad Al Thani, in his first address to the nation, said: “It is natural that we put the interests of Qatar and the Qatari people on top of our priorities. This in-
14 > qatar today > july 2013
cludes humans, society, economy, politics, and cultural identity. At the same time, we have to bear in mind that there is no identity without belonging to wider circles. “We are part of the Arabian Gulf region, and part of the Arab world, and the Islamic world. We are also a part of humanity and the international community.” He continued: “We seek to preserve relations with all governments and countries and we respect all sincere, active and effective political directions in the region but we do not support one side over the other.” HH Sheikh Tamim formed a government in which he replaced former Prime Minister and Foreign Minister HE Sheikh Hamad bin Jassem Al Thani with the former minister of state for internal affairs, Sheikh Abdullah bin Nasser bin Khalifa Al Thani, who was named both Prime Minister and Interior Minister, while former minister of state for foreign affairs Dr Khaled Al Attiyah was promoted to Foreign Minister.
I971
1971
I977
1977
Watershed Moments How HH Sheikh Hamad bin Khalifa Al Thani shaped the identity of Modern Qatar
Graduated from the British Royal Military Academy at Sandhurst and joined the Qatari Armed Forces, gradually rising through the ranks from Lieutenant-Colonel to Major-General
Appointed Minister of Defence and also announced as Heir Apparent
I995
I996
1999
Launched Al Jazeera television station
1996
1995
Became the Emir of Qatar
I999
Granted the United States military the use of Al Udeid Air Base, which now serves as the hub for the US Central Command in the Gulf
2005
Presided over the drafting of the country’s first written constitution
2005
2003
2003
Granted women the right to vote in municipal elections
2006
Under his auspices, Qatar won an ambitious bid to host the FIFA World Cup in 2022 He also asserted Qatar's position as a strategic player in the Middle East with the country’s brave and unwavering support for the various revolutions under the Arab Spring – namely Libya and Syria.
2008 2010
20I0
2013
2008
Recognising the need for a fundamental transformation, he guided his council of ministers in drafting the visionary Qatar National Vision 2030
2006
A long-standing patron of civilian sports, he was instrumental in bringing the Asian Games to Qatar
20I3
Handed over power to his son and Heir Apparent Sheikh Tamim bin Hamad Al Thani qatar today > july 2013 > 15
affairs > local
“Good governance in any country is made by justice, honesty and good example. Destiny has entrusted me with a great responsibility. God is my witness, I have acted as dictated by the duty of the mandate as the Heir Apparent, and my conscience.” HH the emir Sheikh Tamim bin hamad al thani
Mohammed Al Sada, meanwhile, retained the post of Energy Minister, a key position in the country. “We don’t take direction, and this independent behaviour is one of the established facts,” Sheikh Tamim said in his speech, broadcast on Qatari state television.
Before the crown At 33 years old, Sheikh Tamim bin Hamad Al Thani – the second son of Sheikh Hamad bin Khalifa Al Thani and his second wife, Sheikha Moza bint Nasser – will be among the youngest emirs in Qatar’s history. Sheikh Tamim attended Sherborne School, Harrow School and the Royal Military Academy at Sandhurst in the United Kingdom, from which he graduated in 1998. Sheikh Tamim was named heir apparent in 2003. His responsibilities include serving as president of the Qatar National Olympic Committee and deputy commander-in-chief of the Qatar Armed Forces. He is chairman of the committee organising the 2022 FIFA World Cup, which will be hosted by Qatar, and he chairs the Supreme Education Council. Sheikh Tamim is also chairman of the Qatar Investment Authority, the country’s sovereign wealth fund, which reportedly has assets of more than $100 billion and owns stakes in many major companies such as Barclays, Xstrata, Harrods and Volkswagen. 16 > qatar today > july 2013
A leader who transformed the country When HH Sheikh Hamad became the ruler of Qatar, its economy stood at $8 billion, a figure which grew to $174 billion a decade and half later. The growth came largely from natural gas; Qatar possesses some of the largest proven reserves in the world, but produced almost nothing before 1995. Sheikh Hamad, 61, also pushed several prestige projects that put Qatar on the world map while also helping to take “Brand Qatar” to the skies. Most important of these brand-building exercises were Al Jazeera, the Arab world’s first satellite news channel, and Qatar Airways, which was relaunched in 1997. During Sheikh Hamad’s rule, Qatar adopted a foreign policy that was moderate, and he also cultivated relationships with countries and groups across the political spectrum. Qatar played host to a range of peace talks and negotiations: between Sudanese rebels and President Omar al-Bashir and warring parties in Lebanon as well as Fatah and Hamas, the long-divided Palestinian
factions. The Arab Spring brought a more prominent role for Qatar. In his speech to the nation, HH Sheikh Tamin spoke about his father, the leader who helped raise the profile of the country. “His Highness has raised our name high. During his term of office our country has derived its strength from doing good, supporting the aggrieved party, and worked out reconciliations. His Highness the Father has managed to achieve a quiet, gradual and comprehensive revolution in all aspects of the State of Qatar without exception: investment, economy, media, culture, foreign policy, education, health, sports and environment; to make in a few years a true miracle in this region, and provide a unique paradigm for its peoples.” “We take great pride in recording that the reign of His Highness represents a milestone in the history of Qatar,” he added. “HH the Father decided to end his reign while he can give his best. He handed over the banner to me as an expression of confidence in his Heir Apparent. I hope to be worthy of this trust, and to be able to continue the path laid out by this man who is actually the builder of the modern State of Qatar and the pioneer of its awakening,” he said. Now, I am responding to the call of duty to carry the banner with pride on the path of glory of great ancestors, said HH Sheikh Tamim
Armed for a cause? Khalid Al-Attiyah (L), Qatari acting minister of business and trade, and former Prime Minister and Foreign Minister HE Hamad bin Jassim bin Jabor Al Thani listen as US Secretary of State John Kerry speaks during a meeting of the "London 11" Friends of Syria in Doha on June 22, 2013. Foreign ministers of governments that support the Syrian opposition gathered in Qatar after rebels welcomed recent arms deliveries that they said could turn the tables on the Damascus regime. AFP PHOTO/JACQUELYN MARTIN POOL
“Build and they will come”
Qatar Development Bank (QDB) analysts note that Qatar is building 77 new hotels and 42 hotel apartments ahead of the FIFA World Cup in 2022.
Justice delivered
In a landmark judgement, a lower criminal court on June 20 sentenced four people to six years in jail at the end of a ninemonth hearing into the Villaggio Mall fire case.
PICTURE CREDIT: FMEXP (QFC)
A S
ome hotels are also looking at joint ventures. The Qatar Tourism Authority (QTA) has adopted an ambitious strategy of increasing the number of visitors by 20% over the next
five years. It recently stated that the country saw a 58% increase in the total number of tourists from Asia, 19.13% from the Arab world, and 15% from Europe. A total of 72% of this tourism is business-motivated.
fifth defendant was handed five years in jail, while two of the seven defendants were cleared of all charges. The four convicted were the two co-owners of Gympanzee nursery and the owner and manager of the mall. The mall’s assistant manager and head of security were cleared of all charges. All five sentenced will get 15 days to appeal and will remain out of custody until the appeal process is completed, according to legal sources. The court also ordered payment of blood money of QR200,000 each to the families of all the 19 victims. It referred the case to the civil court to decide on other financial claims, including material and emotional damages, by the families. qatar today > july 2013 > 17
affairs > local
QCB Directors appointed by Emir The Father Emir HH Sheikh Hamad bin Khalifa Al Thani has issued Emiri Decree No. 69 of 2013, forming the board of directors of Qatar Central Bank (QCB).
T
he Emiri decree appointed QCB Governor Sheikh Abdullah bin Saud bin Abdulaziz Al Thani as Chairman; Deputy Governor Sheikh Fahd bin Faisal bin Thani Al Thani as Deputy Chairman; and as ordinary members Dr Ibrahim Ibrahim; Khalaf Ahmed Al Mannai, the representative of the Ministry of Economy and Finance; Sultan Rashid Al Khater, the representative of the Ministry of Business and Trade; Dr Saleh Mohammed Al Nabit; and Nasser Ahmed Al Shaibi.
STATE OF PEACE Very High High MEDIUM LOW Very LOW NOT INCLUDED
Qatar tops Global Peace Index in MENA region Qatar topped the Middle East and North African (MENA) region on the Global Peace Index (GPI) in 2013 for the fifth year in a row.
T
he index is published by the Institute for Economics and Peace (IEP), which is based in Sydney, Australia. This year’s index was announced at London last month. Qatar came first among Arab countries and 19th globally among the 162 countries covered by the GPI, which added four more countries this year to the 158 countries listed last year.
QATAR
I.48 GPI Score
Country Rank
I9 I62
out of
Francois Hollande Brings High Level Business Delegation President of the French Republic Francois Hollande arrived in Doha with 46 top-level businessmen from various sectors to strengthen ties between the French and Qatari private sectors. “Our relationship is based on trust and having the same analysis and will towards many of the political challenges of the day. With this delegation, we hope to take a big step towards furthering our economic partnership,” he said. He invited the country to share French know-how in organising mega-sporting events, and oversaw the signing of memorandum of understanding, creating a new Franco-Qatari business council. 18 > qatar today > july 2013
Yousuf Jaseem Al Darwish (left) at the signing of a MoU with Qatar Rail
Doha Metro
Contracts worth QR30 billion awarded Qatar Rail has awarded QR30 billion worth of projects to Qatari contracting companies.
QE gets Emerging Market status MSCI has upgraded the Qatari market from a Frontier Market to an Emerging Market. This decision has been described as a positive step in the development of the Qatar Exchange and a milestone that will attract further foreign investment to the Qatari stock market. Rashid bin Ali Al-Mansoori, CEO of the Qatar Exchange, stated that the exchange, which has a market cap of over QR512 billion (more than $140 billion), is one of the leading stock exchanges in the GCC and MENA regions.
QRC to the rescue in Syria
The Qatar Red Crescent Society will continue to provide health care for children in the Syrian city of Tal Abyad, based on a memorandum of understanding signed with the organisation “Doctors Without Borders” on June 1, 2013.
U A
ccording to a statement by Qatar Rail, although tunnelling and station construction is being executed for the first time in Qatar, Qatari contracting companies have been engaged in all consortiums of the awarded contracts. There are currently 20 consultancy
companies working on these vital projects under the supervision of Qatar Rail. Metro lines connect Al Wakra, Al Khor and Al Rayyan with each other as well as with Doha, while they all intersect at Msheireb Main Station.
nder this memorandum, Medecins Sans Frontieres (Doctors Without Borders) will convert the second floor of the Qatar Red Crescent Hospital in Tal Abyad City into a specialised unit for children, which the organisation will rehabilitate and provide with full equipment. The rehabilitation began in the first week of June, and the memorandum will continue for a period of six months. Saleh Al Mohannadi, Secretary-General of QRC, said, “We will not stop any of our relief and medical projects in Syria... Relief work is inevitable and continuous for our Syrian brothers and sisters in distress.” qatar today > july 2013 > 19
affairs > local
Trade surplus QU celebrates
Qatar University honoured the 845 female students who graduated in the 36th annual Class of 2013 ceremony held at the Qatar National Convention Center (QNCC) in the presence of guest of honor the President of Hamad Bin Khalifa University, HE Sheikh Abdulla bin Ali Al Thani.
Qatar’s foreign merchandise trade surplus increased by 2.2% in April 2013. According to preliminary figures released by the Qatar Statistics Authority (QSA), the trade balance of goods showed a surplus of QR35.2 billion, an increase of QR0.8 billion compared with April 2012.
In total, 1,071 male and female students – 588 Qataris and 483 non-Qataris - graduated over two days of ceremonies.
I,07I 226 845 588 483 Total QU graduates
QA orders 9
Boeing
777
Male graduates
Female graduates
Qataris
and the Value of imports was
QR billion
QR billion.
The total value of exports was UP BY
and Total value of imports up by
43.2 8
(Including exports of domestic goods and reexports)
Non-Qataris
Qatar Airways announced an order for nine Boeing 777 passenger aircraft worth QR10 billion ($2.8 billion) on the opening day of the International Paris Air Show, according to statements by both QA and Boeing. The announcement was made for the 777-300 ER (Extended Range) version of the aircraft. The additional aircraft will help the airline open up new routes and add capacity to existing markets in its rapidly-growing network. The order for seven Boeing 777s will increase to 16 and boost QA's 777 fleet from 35 to 51 aircrafts.
aircrafts
Landmark development at QBRI
Researchers at the Qatar Biomedical Research Institute (QBRI) in Doha, in collaboration with Imperial College London, have developed a revolutionary method of instructing stem cells to secrete insulin when it is needed. Although yet to be tested in animals and humans, the discovery shows promise for helping people with diabetes who have lost the ability to produce enough insulin for the body to maintain the correct sugar level in the body’s circulation. The findings are published in the major peer-reviewed scientific journal Molecular Therapy-Nucleic Acids. 20 > qatar today > july 2013
In April 2013 total export revenues were
2.3 2.8 %
%
respectively over the same period last year.
T
he total exports increase was mainly from “Petroleum gases and other gaseous hydrocarbons”, which showed a rise of 5.1%; however the increase was partially offset by a double-digit drop in exports of “Petroleum oils and oils from bituminous minerals (crude)”. The main countries of destination were Japan, South Korea and India. “Cars and other passenger vehicles” and “Aircraft spare parts” were among the main imported products in April 2013. The United States is the leading country of origin with a share of 13%, followed by the UAE with 10%.
How National Strategies are Born The Qatar National Research Strategy Forum provided a platform for planning and managing future research investments, implementing activities to support the nation’s research enterprise and fostering a collaborative research culture.
T
he greatest thinkers in the country came together for the QNRS Forum 2013 to identity some of Qatar’s ‘Grand Challenges’ and discuss solutions. The two-day closed-door conference is said to have involved supporters and stakeholders of the QNRS from different sectors, disciplines and institutions. “This is the second year of the forum,” said Faisal M Al Suwaidi, President of Research and Development at Qatar Foundation, “where we sit together take a look at what has been achieved in the past year and set priorities for the next year. We make recommendations, get them approved and start working on implementing the solutions.” While roughly 76 research objectives were identified in 2012, the list has been drastically reduced to 12 this year. Ellis Rubinstein, President and CEO of the New York Academy of Sciences, also spoke about the nature of the collaboration between NYAS and QF. “NYAS is
unique in the regard that it is a local academy that has become global. We have helped many countries develop their priorities in science and technology and execute meaningful projects on limited capacity. We are happy that the Qatar Foundation has engaged us as consultants to take a look at their systems and compare it with the best practices employed in other emerging economies.” He also pointed out the new shift in research strategies around the globe. “Today’s ‘Grand Challenges’ are too complex to be solved by silo behaviour. There is a special value in collaboration – industries need to work with universities, biologists with engineers, chemists with geologists – and QF has understood this right from the beginning. This sort of working across sectors is rarely done in large countries but it’s the only way in emerging economies. It brings out ideas and gets the stakeholders talking and reflecting on them.”
According to documentation released by the Qatar Foundation, the following ‘Grand Challenges’ were chosen and prioritised based on key criteria Desalination and waste waster reuse Develop and deploy at least 2% solar energy on the national grid as well as create high value products from natural gas Sustainable food supply Environment and Society Sustainable urbanisation - Doha as a Smart City Mobility and Road Safety Human Capacity Development Holistic and systematic assessment of the rapidly changing environment Managing the transition to a diversified, knowledge-based society Support of arts, culture, media, heritage and language within the Arabic context Develop modernised integrated health management Assure cyber security
What’s holding us back “Even these 12 objectives have to be narrowed down further, to maybe around 2-4, because we simply do not have the capacity to undertake all of them,” said Al Suwaidi. He noted that 7000 researchers and scientists were needed to achieve their goals by 2030 while currently there were only 500. “More than funds, the need of the hour is change in mentality and rules that would groom local talent towards scientific disciplines (like the Qatar Science Leadership Program) and also attract expatriate scientists, encouraging them to relocate here.”
Taliban opens office in Doha Security guards stand outside the new Taliban political office in Doha before the official opening on June 18, 2013. The office is intended to open dialogue with the international community and Afghan groups for a “peaceful solution” in Afghanistan, office spokesman Mohammed Naim told reporters. AFP PHOTO / FAISAL AL-TIMIMI qatar today > july 2013 > 21
business>bank notes QCB sets new ceilings for banks Qatar Central Bank has tightened its curbs on how much banks can invest in stocks and bonds, according to a recent QCB circular.
B
anks’ total investment in equities and debt instruments must be limited to 25% of their capital and reserves, though debt instruments issued by the government and national banks are exempt from the limits. Previously, under instructions to banks issued in November 2011, the limits were 30% each for equities and debt instruments. Among other restrictions, the central bank has set new limits for investment in individual companies and unlisted securities, and introduced a 15% ceiling for total securities investment outside Qatar.
Real estate investment by Islamic banks will be limited to 10% of capital and reserves; previously, the limit was 30%. The central bank did not give the reasons for its new rules, but Qatar is gearing up to spend tens of billions of dollars on major infrastructure projects, and it is seeking to develop its government debt market partly to help finance this. The rules may push banks to free up more money to lend to infrastructure projects or invest in government debt, but may not have much immediate effect in forcing them to sell securities because not all banks have reached the limits.
Capital injection To strengthen capacity expansion and to support working capital, Qapco has secured a QR1.1 billion banking facility from Barwa Bank
Investment Excellence QInvest receives a 2013 Euromoney Award For Excellence as Best Investment Bank in Qatar 22 > qatar today > july 2013
Shariacompliant MasterCard launched by QFB Qatar First Bank (QFB), Qatar’s first independent Sharia-compliant bank regulated by the QFC Regulatory Authority, announced the launch of the first Sharia-compliant "World Elite MasterCard Charge Card" in Qatar and the MENA region.
T
he launch is the opening initiative in QFB’s recently-announced strategy of becoming a full service Sharia-compliant institution. The highly exclusive metal QFB World Elite MasterCard Charge Card is going to be accepted at more than 35.9 million outlets across more than 210 countries. It will be offered by invitation only. The card provides an innovative experience-based service platform for affluent customers and is packed with a host of high-value benefits and rewards that include travel benefits, lifestyle concierge and insurance, among others.
business > bank notes
Gathering Clouds
India woos investments amid economic chaos
As Qatar’s gas money swells and it looks at deploying the gains productively, India is wooing Qatar to invest in the country. And despite the myriad economic problems that India is facing currently, Qatar too seems to be showing a keen interest in India. By Sowmya Sundar Photography: Robert Altiminaro
24 > qatar today > july 2013
Hassad Food Company Chairman Nasser bin Mohamed al-Fahid Al Hajri, (right), with CEO Fahad Abdullah Turki al-Subaie addressing the media.
I
ndia’s Finance Minister, Palaniappan Chidambaram, was recently in Doha trying to convince investors to put their money into his country’s massive infrastructure sector, which requires QR3.64 trillion ($1 trillion) in investments. Chidambaram has steered the country’s latest economic reforms, which includes liberalising key sectors such as aviation and retail and announcing several measures to make India an attractive investment destination. He has also embarked on a global tour meeting prospective investors across the globe and selling the India growth story. Doha and Dubai were the only two places he visited in the GCC. Of this “strategic” pit stop the Indian Ambassador to Doha, Sanjiv Arora, says, “Infrastructure is the most important segment that is seeking Qatari investment, but the other investment-worthy sectors are tourism and hospitality, the entertainment industry, media, manufacturing and the food sector. Retail and the aviation sector are other lucrative areas given the recent liberalisation of Indian markets.” The finance minister had detailed discussions with his counterpart HE Yousef Kamal, and he also met top representatives from Qatar Investment Authority and its subsidiary organisations like Qatari Diar,
Hassad Food, Qatar Holding as well as chairmen and CEOs of major banks. The high-level visit by the finance minister assumes significance as India has traditionally attracted negligible investment from the Gulf despite its wider engagement in the region. Total investments in India from GCC countries between April 2000 and March 2013 totalled QR10.5 billion ($2.89 billion) according to data from India’s department of Industrial Policy and Promotion, the nodal department for foreign direct investment (FDI) policy. The UAE has been the top investor by a mile, accounting for 85% of the total fund flow from the GCC for the above-mentioned period. Contrast this to the recent QR4.55 billion ($1.25 billion) equity buy, representing a 5% stake, announced by Qatar Foundation Endowment in India’s largest telecom operator, Bharti Airtel, which was also Qatar’s maiden equity investment in a listed Indian entity. Earlier Hassad Food, also an arm of Qatar’s sovereign wealth fund acquired 51% of Bush Foods, a major player in basmati rice globally, for reportedly over a QR364 million ($100 million). Hassad Food Chairman Nasser Al Hajri revealed recently in a press conference that he had plans to invest $500 million in India over two to three years in the production of rice,
Investments IN INDIA announced SINCE March 2013
$2,865.43
Million FDI FROM APRIL 2000 tO March 2013
$I.00
million hassad food
$I.25
billion Bharti AIRTEL deal qatar today > july 2013 > 25
business > bank notes
FDI from the GCC into India Received from April 2000 to March 2012
“Excellent Relations A harbinger for investments” The Indian Ambassador to Doha, Sanjiv Arora, says that Indian Finance Minister P. Chidambaram’s visit to Doha came in the framework of the excellent relations between India and Qatar and “our multifaceted cooperation”. “We have a regular exchange of high-level visits. HH the Emir, Sheikh Hamad bin Khalifa Al Thani, visited India for the third time in April last year,and in the bilateral context, after the Emir’s visit, this visit was the most important of all high-level visits.” The Finance Minister’s message during his official interactions and also at the Investors Meet, according to Ambassador Arora, was that there was vast potential for India’s economic, business and financial cooperation with Qatar. “He expressed appreciation on the strides made by Qatar in several areas in terms of expansion in infrastructure, education, energy, culture and sports. He also highlighted the huge size and the robustness of the Indian economy, and gave the message that India has a distinctive advantage as a business destination and business partner and we welcome foreign investments. There are already some investments from Qatar, and the potential to increase this is immense.” He also highlighted the increasing interest that Indian companies are showing in business opportunities in Qatar, in construction and in information technology. The Ambassador also spoke about the major investment by Qatar less than two months ago when it bought a 5% stake in India’s global telecoms firm Bharti Airtel Ltd for $1.25 billion. The deal was channelled through Qatar Foundation Endowment – an investment vehicle of the Qatar Foundation controlled by HH Sheikha Mozah bint Nasser. “It is truly a strategic partnership between two excellent partners,” he says, “Another interesting side to this partnership is that Bharti Foundation, the civic society arm of Bharti Airtel is also part of Qatar Foundation in the area of education, through Sheikha Mozah’s “Educate a Child” initiative.” This is a good example of how India’s corporate sector can develop collaborations in business and non-business areas, he says. Top officials from the Qatar Investment Authority have also visited India recently, and just after the Minister’s visit, though the outcome of these visits is not yet official or confirmed says Ambassador Arora. Qatar makes a vital contribution to India’s energy security needs with India importing 7.5 million mt tonnes of LNG from Qatar every year. “India with a population of 1.2 billion is the world’s third largest economy in terms of purchasing power parity and our energy needs are immense," says the Ambassador. “In addition to these substantial amounts of gas in long-term contracts, both sides are in active discussions for further increasing the supply to India,” he says. (Interviewed by Sindhu Nair) 26 > qatar today > july 2013
Country
FDI inflows ($million)
% of total FDI flows
received FROM April 2012-March 2013 FDI inflows ($million)
% of total FDI flows
UAE
2,242.62
1.32
179.85
0.8
Oman
341.24
0.2
10.77
0.5
Saudi Arabia
33.8
0.02
7.12
0.03
Bahrain
27.16
0.02
2.08
0.01
Kuwait
17.84
0.01
0.11
0
Qatar
1.62
0
1.22
0.01
Total FDI from GCC
2664.28
201.15 (Source: India's Department of Industrial Policy and Promotion website)
cardamom, coffee and “ready-made food”. Close on the heels of Chidambaram’s visit, QNB announced that it would start operations in India by the third quarter of 2013 through a fully-owned subsidiary, QNB (India) Private Limited. QNB said it would offer consultancy and advisory services in investment and finance for Middle Eastern companies looking to establish businesses and/or invest in India, clearly signalling the potential for more investments into India from the region. As India issues a slew of new banking licences in 2013-14, there will be ample opportunity for investments. The Economic Times, an Indian financial daily, reported that Qatar’s sovereign wealth fund is looking to invest QR728 million ($200 million) in an Indian reality firm RMZ group, based in Bangalore. Going by the cumulative investments made so far by Qatar’s sovereign wealth fund entities, this is just about a fourth of the proposed QR36.4 billion ($10 billion) that Qatar’s SWF is willing to invest in India. Ever since India increased the foreign investment limit in Indian airlines from 26% to 49 %, there has been wide speculation that Indian carriers are talking to Qatar Airways for possible investment. India’s Spice Jet is a strong contender. Qatar Airways CEO, Akbar Al Baker has however categorically denied that the airline is looking at buying a stake in any Indian airline as of now. However, given Qatar Airways' aggressive growth so far and India’s market potential, the possibility is not to be ignored. The deepening engagement between the
two countries of late is a spot of relief in the economic chaos that India is engulfed in. For India, the Bharti deal has been the single largest deal in recent months, and the recent developments signal a positive flow of funds from Qatar in future. Despite India’s desperate efforts to attract foreign investment, investors have failed to queue up. In a slew of measures launched last September to shore up foreign fund flow into the country, India, under the leadership of Minister Chidambaram, increased FDI limits in the civil aviation and retail sector, amidst tough resistance from the opposition; slashed withholding taxes for foreign institution investors and NRI’s investing in Indian government and corporate bonds from 20% to 5%, announced a new NRI bond scheme, an inflation-adjusted bond to stem gold imports into the country, and the formation of a cabinet committee on investment to speed up project clearances. Despite these attempts, Standard and Poor’s retained its negative outlook on India and warned that it might downgrade the country to “junk” investment status. The rupee has plummeted by 30% in the past one year and foreign institutional investors are pulling out of Indian debt and equity markets. Slow growth and the hurdles to the implementation of economic reforms have frustrated investors who are otherwise sold out on the long-term India growth story. The impending election next year and a possible change of guard at the center further clouds the continuity of the current reforms
business>oil&gas expert speak
“For those of us in the energy industry, the challenges are about how we respond to the big shifts we are seeing a shift in demand towards emerging economies and a shift in supply towards a greater diversity of energy sources, including unconventionals.” Bob Dudley BP Group chief executive
First GTL fuel exported Qatar International Petroleum Marketing Company Ltd (Tasweeq) and Pearl GTL witnessed the loading of the first export cargo of GTL blended Jet Fuel from Ras Laffan on June 12.
World Energy Statistics The US recorded the largest singleyear increase in oil production in 2012, according to the BP Statistical Review of World Energy. The review, released on June 12, was the company’s 62nd annual report. According to BP, world nuclear output recorded the largest annual decline in 2012. World energy consumption 2.4%
2011
2012
I.8% major source of demand growth, emerging countries of global consumption
42%
56%
T
asweeq's Chief Executive Officer, Saad Al Kuwari, said: “In 2011 we sold the first cargo of GTL Naphtha. We are also so proud of adding yet another GTL product to the Tasweeq portfolio. I am sure GTL blended Jet Fuel produced in Qatar will also enjoy a sound reputation as a quality product in key international markets around the world. We are keen to be introducing GTL blended Jet Fuel to global customers in the aviation industry.”
GTL blended Jet Fuel is a blend of GTL Kerosene and conventional crude oil-derived standard jet fuel. GTL Kerosene burns with virtually zero sulphur dioxide and produces lower particulate emissions (very fine soot particles) than conventional crude oil-derived jet fuel. This means that once blended with conventional jet fuel to create GTL blended Jet Fuel, it can be attractive to airlines and airport authorities keen to improve local air quality at busy airports by reducing local emissions.
Strengthening Ties Qatar University (QU) and Qatar Shell Research and Technology Centre (QSRTC) signed a Memorandum of Understanding (MoU) to further strengthen their long-standing partnership, committing to greater collaboration in technology, innovation and research and development and offering greater opportunities for students and faculty. The agreement was signed by QU President Prof. Sheikha Al-Misnad and Qatar Shell Managing Director and Chairman Wael Sawan in the presence of QU Vice-President and Chief Academic Officer Dr Mazen Hasna, QU faculty members and senior Qatar Shell staff. 28 > qatar today > july 2013
20 years ago
Global oil consumption increased by 890,000 bpd, 0.9% below the historical average. OECD consumption declined by 1.3% (530,000 bpd) and non-OECD consumption grew by 3.3% (1.4 million bpd). Global oil production climbed by 1.9 million bpd. Despite a decline in Iranian output due to international sanctions, OPEC contributed about three-quarters of the global increase. Non-OPEC production grew by 490,000 bpd with increases in the US, Canada, Russia and China.
business > realty check
Msheireb to build Gulf’s largest open-air square The Gulf’s largest open-air square, Al Baraha, will be built within Msheireb, according to Msheireb Properties, developer of the Msheireb Downtown Doha project.
A
l Baraha will be one of the main attractions of the development, where visitors will be able to enjoy al fresco fine and casual dining at over 15 outlets. Being built as part of Phase 1B of Downtown Doha, Al Baraha is set to be the biggest manmade square in the Gulf, equal in size to the famous Piazza San Marco in Venice. Al Baraha will comprise state-of-the-art cooling systems and climate management
technologies to create a comfortable temperature for visitors, pedestrians and diners even in the hot summer months. The square will also be bordered by the 19,000-square-metre Cultural Forum, which will provide a venue for the creative community, with features including two art house cinemas and a performing arts theatre. Space will also be available for public art exhibitions and lessons in music and the fine arts.
KEO to manage Al Wakrah stadium construction The Qatar 2022 Supreme Committee has appointed KEO as the Project Manager and AECOM as the Design Consultant for Al Wakrah Stadium.
A
l Wakrah Stadium will have a gross tournament capacity of 45,000 during the 2022 FIFA World Cup Qatar. The top tiers of the stadium will be modular. Following the tournament, the capacity of the stadium will be reduced to 20,000, with 25,000 seats removed, donated and re-constructed in coordination with FIFA in countries that require assistance in developing their sporting infrastructure.
30 > qatar today > july 2013
Hassan Al Thawadi Secretary-General for the Qatar 2022 Supreme Committee
“We are looking forward to working with our partners on Al Wakrah Stadium to construct an amazing sporting facility that both serves the local community and integrates with Al Wakrah’s fabric. We are delighted with the sustainable legacy that this stadium, as well as forthcoming ones, will leave behind for Qatar and the world.”
business > realty check
Barwa Wows with Luxury Offerings Barwa's Deputy CEO, Ahmad Al Abdulla, tells Sindhu Nair about the company's new projects while predicting that the country will see inflation similar to that of the 2006-2008 period.
W
Ahmad Al Abdulla
Deputy CEO, Barwa
A model of Dara, residential development located in Fox Hills, Lusail. 32 > qatar today > july 2013
hen Ahmad Al Abdulla sat down for an interview during Cityscape Qatar 2013, held in May at the Doha Exhibition Centre, he had a certain gleam in his eye. A look that clealry indicated the excitement built up by the huge projects announced by Barwa. A look that said: “You'd better believe this.” Barwa Real Estate Group, one of Qatar’s largest real estate management and investment companies, launched three new flagship projects – Oryx Island, Gulf Resort and Dara – during the opening of Cityscape Qatar. Oryx Island will be an integrated pedestrian-only development featuring luxury villas, an aqua park and five floating hotels; Gulf Resort is set to be developed on a 250-hectare site and will contain a natural harbour, three hotels and a shopping mall; and Dara will be a 176,000-square-metre residential development located in Fox Hills, Lusail.
Barwa is not one for building luxury villas in a market that is already flooded with high-end residential options, but is known better for its popular solutions for the lower- to middle-income population. At the time when The Pearl project was launched, Barwa came up with solutions for the needy. “Barwa has a social responsibility, since it is partly owned by the government. We have to look at the market conditions, understand the need and provide according to the requirements on different levels. We started with low-income housing – the Masaken Mesaimeer and Masaken Al Sailiya housing projects are designed to provide affordable community housing, with close to 1,900 units – and then came Barwa Village, which provides housing for the low- to middle-income groups. There was massive demand for low-income housing, because that was at the period when housing rents across the country had spiralled and were at an exaggeratedly high level due to the skew in the supply-demand ratio,” he says. “Another middle-income offering is Barwa City in Mesaimeer, containing 6,000 units. The residential units are fully complete, while the amenities will be completed by the end of July. People have already started living there.” Barwa's Al Baraha development is designed to serve as an integrated workers’ city that will accommodate 53,000 workers and employees, making it the GCC’s largest workers’ accommodation. “The project will be developed in two phases. Phase one will be parking for trucks and vehicles, for which work commenced in 2009, while phase two will provide accommodation for 20,000 workers, pre-owned car showrooms, auctions, workshops and stores for truck and machinery maintenance services. Work on the second phase also started last year, and 5,000 units will be completed before the end of this year. The second part will be completed by the end of 2014,” says Al Abdulla. Taking Barwa out of Doha Talking about projects outside Qatar, which according to him are more geared towards building on opportunities and for prestige value than for investment purposes, Al Abdulla says, “We have just announced two projects. One is Ottomare in Turkey, a project comprising 391 upscale residential units, scheduled for completion in the third quarter of 2013. All the units save eight have already been sold. The other project is a much smaller one, with 28 apartments.” In the UK, Barwa has mostly bought
Barwa Real Estate Group
CEO Abdulla Abdulaziz Al Subaie providing an overview of Oryx Island to Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman of the Qatar Chamber of Commerce and Industry
apartments, furnished and restored them, and then rented them out, he says. “With the current scenario in Europe, our investments in Europe are not strategically important but more for the esteem such projects bring us. We are keen to expand in the Far East and also in UK.” Going forward with Passive House Baytna, another Barwa brainchild, is a “Passive House” project whose feasibility is currently being measured; only once the experiment is complete and the results have been analysed will further strategies be implemented. “After the construction, the first six months is for experimenting and the next six months for testing by real-life tenants. After a year, we will know whether the project is worth investing in or if the project has to be constructed on a mass scale.” Real Estate trends Al Abdulla believes that the trends seen in the realty sector from 2006 to 2008 will resurface. “The same cycle will follow,” he says. “The rush will be there to complete projects, there will be a large influx of population, and traffic congestion, and shortage of housing will all come back. There will be inflation due to the lack of supply...” But all this can be controlled too, Al Abdulla says, if there is proper and timely communication between government agencies, builders and property owners on the demand and supply needs. “All these entities can make sure that gaps can be filled by the builders and developers,” he feels. “Prepare according to the need in the market, and if that is met then the inflation can be controlled,” he says. The supply-demand market seems balanced right now, so when does he see it getting shaky? “The need is already there,” he prophesies, “And it will peak by 2014...”
New and luxurious Dara features a variety of spacious, modern apartments and integrated facilities such as restaurants, luxurious hotels, shopping outlets, a fully integrated transportation system, day-care centres and fitness centres. Located a short walk from the Lusail Stadium, home of the 2022 FIFA World Cup Opening and Finals, Dara is easily accessible on foot or by bike, minimising the use of motorised vehicles. Dara is also a sustainable project with a 3-star GSAS rating. It features 53 buildings and 1,000 apartments and is split into two zones: Zone 1 is residential, while Zone 2 offers a mix of commercial and residential areas.
qatar today > july 2013 > 33
business > viewpoint
Southeast Asia’s
stocks offer big opportunity
For Qatari investors, the booming stock markets in ASEAN are of great interest. These markets have opened a new avenue for cash-rich stock buyers from the Gulf, with a lot of successful initial public offerings (IPOs) in 2012 and an impressive line-up for 2013.
34 > qatar today > july 2013
A
SEAN is set to become the world’s most active region for IPOs in 2013, having already earned a solid reputation in this field with several mega-listings happening in Malaysia in 2012, among them, most notably, palm oil conglomerate Felda Holdings, with its QR11.65 billion ($3.2 billion) raised in June 2012 ranking only second behind Facebook in that year. It has become easy for Qataris to put their money to work at ASEAN exchanges, with all major banks now offering brokerage services from tax-friendly locations such as Singapore or Hong Kong, and a new ASEAN trading platform, the ASEAN Exchange Link, also seeking to attract individual investors and bolster volumes by offering cross-border trading.
What’s on the IPO plate for 2013? Malaysia will see more major deals now that Kuala Lumpur has risen to become the world’s fourth-largest centre for bourse debuts in 2012, overtaking other financial hubs in Asia and, most notably, London. In what is expected to be Malaysia’s next large bourse debut, UMW Holdings Bhd, one of the largest Malaysian industrial conglomerates, is planning to sell 39% of its oil and gas unit in an IPO, a deal that some bankers say could raise up to QR3.64 billion ($1 billion). Other IPOs expected in Malaysia this year include long-haul discount carrier AirAsia X, which is looking to raise QR1,092 million ($300 million), with pricing to take place in June. Energy and water firm Ranhill Energy and Resources is also likely to raise up to QR1230 million ($337 million) in June. New regulations in Malaysia are now also allowing the listing of business trusts, corporate entities that combine assets such as property and enjoy certain tax incentives. Such trusts, namely real estate investment trusts, or REITs, that are paying regular dividends at higher yields to make them more palatable to investors, were previously only available in Hong Kong and Singapore. After record share trading in 2012, Thailand looks likely to have another strong year of bourse activity in 2013. The country’s largest-ever IPO, an infrastructure fund of Bangkok’s Skytrain operator BTS Group Holdings, was listed successfully in April, raising around QR5.8 billion ($1.6 billion). Companies planning to list in Bangkok this year include the two commercial carriers Bangkok Airways and Nok Air, power producer CK Power, industrial developer Amata VN and the Thai arm of Malaysia’s CIMB Group Holdings Bhd. Issuance has totalled QR14.2 billion ($3.9 billion) so far in 2013, on pace to surpass last year’s record. Thailand’s stock market, already one of the best-performing in the world, has added 9.9% so far this year. In Indonesia, a number of medium-sized companies are waiting in
the 2013 IPO queue, among them Blue Bird Group, the country’s biggest taxi operator, aiming to raise around QR910 billion ($250 million), as well electronics retailer PT Electronic City Indonesia (ECI), and textile manufacturer Sri Rejeki Isman, or Sritex. However, the IPO spree should be topped by Indonesia AirAsia’s debut, expected in the third quarter of 2013. In the Philippines, Robinson Retail Group is planning to raise $800 million, and a joint venture between Genting Hong Kong Ltd and Philippine conglomerate Alliance Global Group called Travellers International eyes $850 million in an IPO. In the first IPO at the Philippines Stock Exchange after the country received investment grade status, Manila-based Asia United Bank Corp., jumped as much as 9.5% on its market debut on May 17. Interestingly, the former IPO capital of Southeast Asia, Singapore, has faced a famine in initial public offerings, or at least repeated delays of big-ticket stock deals. However, this ended when Asian Pay Television Trust, owner of Taiwan’s third-largest cable television operator, raised QR4 billion ($1.1 billion) in an IPO on May 16. And Formula One’s planned QR43.68 billion ($12 billion) IPO in Singapore could reportedly take place in the next 12 months. Investor interest in Southeast Asian stock markets has been very strong thanks to healthy trends in domestic consumption and capital spending spurred by supportive local fiscal and monetary policies. While the larger emerging market economies, such as China, India and Brazil, have been posting growth rates somewhat below market expectations, Southeast Asian countries have been growing at or above expectations. The rallies have been evident in the performance of market cap-weighted country funds and are expected to continue for the foreseeable future. Clearly, attention has shifted to these new markets, and smart investors will certainly know how to make sense of it
By Arno Maierbrugger
dr arno MAI ERBRUGGER is Editor-in-Chief of www.investvine.com, a news portal focusing on Southeast Asian economic topics as well as trade and investment relations between ASEAN and the GCC. The related website www.insideinvestor.com is currently being developed as an online platform connecting investors with investment opportunities.
qatar today > july 2013 > 35
business > viewpoint
Regulators hold the key:
Unlocking the potential of Gulf equity markets By Shadi Zubeidi
Gulf equity markets are enjoying a resurgence at the moment, boosted by stronger performances from stock markets around the world and the region’s buoyant economic prospects. 36 > qatar today > july 2013
W
ith a combined capitalisation of around QR2,910 billion ($800 billion), Gulf markets remain small relative to the size of the GCC economies, some of which rank among the world’s top 20. Many investors are pressing for action to allow GCC equity markets to realise their potential. The question is: What can be done? Regulation is a crucial part of the answer. Two important recent announcements show how stock market regulators can speed up the development of local equity markets. First, in Saudi Arabia the Ministry of Commerce and Industry, the Capital Market Authority and the Communications and Information Technology Commission announced the liquidation of the Saudi Integrated Telecom Company (ITC), a joint stock company listed on Tadawul Stock Exchange, insisting that priority be given to meeting the company’s obligations to non-founding shareholders. While the results of this decision have yet to be tested, it illustrates how market regulators can enforce the law to ensure that the interests of public investors are fully protected. Second, confirmation that Qatar Petroleum will list four companies on the Qatar Exchange will help promote private sector participation, create a larger pool of traded shares and increase liquidity. At the same time, these decisions also demonstrate how far the region’s equity markets have to evolve. There are several areas where decisive regulatory action would help GCC equity markets to expand. Most equity market regulatory agencies in the Gulf started about a decade ago. While they share many similarities, the differences between them and the variations in the speed at which regulations and listing rules have been implemented mean that equity markets in the region are largely confined to national exchanges. The standardisation of listing rules and regulations in the region is therefore one example of how regulatory action could encourage the integration of regional markets and the participation in local stock exchanges of investors from across the GCC. Naturally, there are political, social, economic and technical factors that need to be addressed. But the gradual unification of regional stock markets is possible, and regulators should give it top priority as a
strategic objective. Giving foreign investors greater freedom to invest on local stock exchanges, for example by raising foreign ownership limits, is another much needed move. It would promote local corporate brands internationally and help attract inward investment. The pros and cons of reducing the restrictions on foreign investors have long been debated. It should be clear by now, however, that the small size of some regional equity markets makes opening them up to foreign investment to stimulate their development imperative. The decision of Morgan Stanley Capital International (MSCI) recently to upgrade the status of the Qatar and UAE exchanges from Frontier to Emerging Markets should stimulate the development of the stock exchanges and pave the way for more active equity markets. A further measure would be to encourage the dual listing of companies operating in the region and allow international corporates to list on regional stock markets by modifying listing rules and modernising equity trading infrastructure. Liquidity on regional exchanges and risk management by investors could also be increased by permitting new financial instruments such as sukuk, bonds and financial derivatives and introducing short-selling (selling shares you do not own in the expectation of buying them back at a profit). In parallel, there is a strong case for specialist markets for small- and medium-sized enterprises (SMEs) for which listing rules are less stringent. Many of these ideas are under discussion in Qatar. The Qatar Exchange (QE) has announced a range of measures to improve liquidity and services to investors, and many of these actions led to the successful inclusion in the MSCI index. Furthermore, QE launched last year the QE Venture Market for SMEs with the objective of prompting small and medium enterprises to consider the equity market as an alternative for raising fresh capital. To conclude, GCC stock markets are less likely to benefit from the global recovery in equities if local investors tire of waiting for reform and invest outside the region to take advantage of the new opportunities. Swift action by GCC regulators is essential to ensure that regional markets remain competitive and attractive to local and international investors
Shadi Zubeidi Managing Director and Head of Corporate Finance, Qatar First Bank
qatar today > july 2013 > 37
newsbites > regional
38 > qatar today > july 2013
C ELEBRATING C HANGE
IRAN, Tehran : Iranians celebrate the victory of moderate presidential candidate Hassan Rowhani (portrait) in the Islamic Republic’s presidential elections at Vanak Square in northern Tehran on June 15, 2013. Iran's Interior Minister Mostafa Mohammad-Najjar said Rowhani had won outright with 18.6 million votes, or 50.68%. TOPSHOTS/AFP PHOTO/ATTA KENARE
qatar today > july 2013 > 39
business > viewpoint
Taking Wealth Management Digital
When an industry faces competition from abroad and disruptive technological change, the natural response is to ignore it as long as possible. But there is often wisdom in looking for opportunity hidden amidst threat.
40 > qatar today > july 2013
T
hat's the challenge facing the wealth management industries Ė the network of private banks which serve wealthy clients and manage their investments Ė in the Gulf Cooperation Council (GCC) countries today. And because the GCCís banks play such a pivotal role in its economy, the choices they make in the next few years could have a lasting impact on the growth of the region. The wealth management industry is undergoing considerable change worldwide. As a result of the financial crisis, many firms are experiencing lower margins and increased pressure on operating costs. Regulations and compliance requirements are becoming more stringent, everywhere
in the world. Upstart competitors are entering the industry with innovative, Internet-driven offerings Ė for example, new kinds of pay-by-phone and investment services Ė that challenge the industryís traditional fee-based model. Most importantly, they are trying to keep pace with clients who are increasingly digitally adept. To be sure, much of the financial services industry has transformed its business using digital technologies. It is now considered the most digitised industry in the world. This has enabled retail banking operations, for instance, to run more efficiently and with greater transparency, and has allowed customers to do their banking online using a range of handheld mobile devices. But the wealth management sector has
lagged behind. Because private banking firms rely on traditional, long-term client relationships, the industry has made slow progress in crossing the digital frontier. A recent Booz & Company survey found that only 22 of 50 private banks had optimised their websites to integrate smartphone applications. Worse yet, 14 had no mobile presence at all. A Reason for Change Private banks and wealth management firms in the GCC countries have considerable reason to raise their game in this area Ė indeed, to become global pioneers if they can. With its natural resources and associated wealth, the viability of the GCCís wealth management and private banking sector matters. Digitising their businesses more rapidly and proactively will enable the Middle Eastís financial services firms to remain competitive, as well as enhance the regionís role as a key financial services hub. This in turn would contribute to the Gulf statesí core national goals, such as self-sustainable growth and development. Bringing digital prowess to private banks will also benefit the wealth holders of the region. They can stay with their local institutions Ė with their investments guided by regional managers who understand this particular regional economy and who are aware of local investment opportunities Ė without losing the convenience, access and other benefits of using new digital tools. Three Digital Opportunities There are three major reasons for wealth management and private banking firms to make this leap. The first is to drive sales by building closer ties to clients, especially the digital natives. Designed correctly, digital apps and tools will help private banks identify client needs earlier and with greater accuracy. Digital tools will also provide new online channels for transactions, advice, and information exchange, as well as what bank innovators call ďclient-to-client networkingĒ - enabling people to learn from each other in online spaces moderated by the bank. With these innovations, firms will be better able to develop new offerings for their current customer base and attract new clients. The second reason is to drive down costs. Banks can use digitisation to automate and standardise many processes, which can
help them efficiently roll out new programs and investment ideas to their relationship managers. They can also make more productive use of relationship managersí and specialistsí time. For example, banks can use online chatting and videoconferencing tools to provide more rote information, thereby freeing up time to help clients think effectively about their portfolios. The third advantage is better risk and compliance management. For instance, relationship managers can use tablet applications for risk and compliance checks, bringing the tablets into meetings with clients, and thus set up an electronic audit trail, reducing risk and compliance costs for the bank. Banks can also set up client-tailored digital portfolio risk management tools so that clients can run real-time portfolio simulations and risk scenarios. Automated systems can also warn clients if their portfolio has exceeded predefined risk tolerances. A Road Map to Success Adopting a digitisation strategy is no easy feat, especially given that many wealth management and private banking firms in the Middle East are seeking to catch up with global competitors. Private banks can follow a five-step road map: First, determine the expectations about digitisation held by internal stakeholders, such as the board of directors. Then assess the digitisation expectations of current and potential future clients. Third, evaluate the threat of disruption from more digitally proficient competitors, including those outside the traditional financial-services industry. (Are telecom companies, for instance, beginning to offer competitive mobile banking?) Fourth, actively seek out information on how evolving technology will continue to drive digitisation in the industry. The fifth and final step of the road map is to decide whether to focus on the external, client-facing (front-office) or internal (middle- and back-office) implications of digitisation Ė or both. In general, change is coming to the wealth management and private banking sector, and firms in the Middle East must decide whether they want to cling to the status quo or adopt a more proactive approach that will bring them a host of benefits both to their business and clients, as well as their regional economy
By Christian Reber, Partner, and Dr. Daniel Diemers, Principal, with Booz & Company
About Booz & Company: Booz & Company is a global management consulting firm involved in helping som e of the world’s top businesses, government ministries and organisations. It's founder, Edwin Booz, can be said to have defined the profession when he established the first management consulting firm in 1914. Today Booz & Co. has over 3,300 people working in more than 60 offices around the world.
qatar today > july 2013 > 41
business > viewpoint
growth predicted for Qatari aviation
By Oliver Cornock The author is the Regional Editor of Oxford Business Group.
How will Qatar Airways be able to overcome regional competition?
42 > qatar today > july 2013
R
ecently-released figures indicate that the aviation sector is continuing to post positive growth. However, competition in the sector across the region is also increasing, presenting a significant challenge to all players. According to research carried out by the aviation intelligence firm OAG and presented at the conclusion of Qatar Transport 2013, Doha’s market share of the booming Gulf Cooperation Council (GCC) aviation industry has grown from 6.5% in 2003 to 11% in 2013 and is predicted to increase further to over 23% by 2023. These figures alone represent significant progress, but when viewed in the context of the GCC region’s increasing share of global capacity, the figures are even more impressive. The projections of further significant growth are underpinned not only by the plans of the nation’s flag carrier, Qatar Airways, which has booked orders for 250 aircraft with a value of QR182 billion ($50 billion), and its route expansion plans, which see 12 new destinations added every year over the next five years , but also by the scale of projects aimed at improving the aviation infrastructure. Perhaps the most significant of these projects is the New Doha International Airport (NDIA), which is slated to open in late 2013 and is projected to have a capacity of 28 million passengers a year during Phase 1, and up to 50 million passengers annually by 2020, when the facility is set to become fully operational. The expanded airport has also created considerable potential for the low cost carrier (LCC) sector, which has been developed elsewhere in the region, adding further momentum to the sector. These figures represent a significant aid to achieving the government's goals of sustainably diversifying away from a hydrocarbon-based economy. An expanded aviation industry will not only provide stable local employment for Qatari citizens, one of the main goals of Qatar National Vision 2030, but also enable more business and leisure travellers to fly in and out of the country, boosting business, tourism and shopping, and more generally further raising Qatar’s profile.
Due consideration must however be given to several regional factors that might impede the growth of this sector in the coming years. Challenges from other regional hubs such as Dubai World Central (capacity: 160 million passengers) when it opens; and Abu Dhabi’s Midfield Terminal Complex (MTC), due to open in 2017 (capacity: 27-40 million passengers); and, slightly further afield, Istanbul’s Yeni Havalimani (capacity: 150 million passengers), slated to begin operations in 2017. Similarly, Qatar Airways faces stiff competition from other carriers in the region, most notably Emirates and Etihad, all of which have similarly ambitious plans for growth in the coming years, with 454 aircraft on order among them. Perhaps the more worrying issue for all of these airlines is whether such vast expansion runs the risk of over-saturating the marketplace, restricting the prospects of all the carriers in the region and damaging their ability to grow as predicted. It seems Qatar Airways has considered this threat and is working to avoid it. Strategically expanding its routes into areas of high population, particularly in East Asia, that are currently either undersupplied or supplied by state-run carriers burdened with large amounts of debt and thereby unable to offer such competitive fares is an important element in this. Nearly all of the Gulf’s carriers are supported by their respective governments, which means that they have been able to fund expansion without taking on high levels of debt, leaving them flexible to react to new market opportunities. Qatar Airways is not alone in this strategic expansion. Emirates is negotiating additional direct routes to South and North America. Similarly, Etihad has been expanding its own routes, joining up with other airlines and linking existing routes to extend their global reach. Quite what the Gulf’s aviation sector will look like in ten years time is unclear, but it seems there are exciting times ahead for all players, presenting significant opportunities for travellers as well as the economies they serve. What does seem certain, though, is that Qatar will be at the forefront of developments
affairs > international
44 > qatar today > july 2013
Was h e d Away!
INDIA, Govindghat : Alaknanda river's fast moving waters destroy buildings during a heavy monsoon rain in Govindghat town in the Indian state of Uttrakhand on June 17, 2013. Heavy rains lashed parts of northern India, resulting in the deaths of more than 1,000 people with many still stranded in the Uttrakhand region even as the Indian Army steps up rescue operations. AFP PHOTO/ STR
qatar today > july 2013 > 45
development > coverstory
cover story
Heralding a new era in healthcare
46 > qatar today > july 2013
The story of Qatar’s success is legendary. It is OFTEN PORTRAYED IN foreign media as the TRANSFORMATION of a MODEST pearl-diving COMMUNITY BY the fortunate discovery of gas openING doors to instant riches. OIL AND GAS HAVE INdisputABly played a pivotal role, BUT SO TOO HAVE GOOD governance that charted each step of the country. the Qatar National Vision 2030 (QNV), SOUND global investments, valiant effortS in building the downstream sector, the knowledge economy that is being painstakingly built, and slow but now INCREASINGLY confident PROGRESS TOWARDS oil- independenCE. AND While health services HAVE BEEN constantly improved and updated toWARDS INTERNATIONAL standards, the recently-announced National Health Strategy (NHS), part of the QNV 2030, takes the health services IN QATAR to an entirely new LEVEL. By Sindhu Nair
qatar today > july 2013 > 47
development > coverstory
HE Abdulla bin Khalid Al Qahtani, Minister of Health and Secretary-General of the Supreme Council of Health
The overall approved budget for financial year 2012/13
9.I5
QR billion
47
%
higher than 2011/12
I
QR billion for Primary Health Care Corporation (PHCC)
7
QR billion for Hamad Medical City, which together with the Sidra Medical and Research Centre, will continue to develop the country's tertiary care capability 48 > qatar today > july 2013
S
peaking at an event to mark the completion of two years of the National Health Strategy (NHS) 20112016, the Minister of Health and Secretary-General of the Supreme Council of Health, HE Abdulla bin Khalid Al Qahtani, said recently that Qatar will inject QR38 billion into its healthcare system in the next five years, which is a huge increase from its current annual spending of QR1.34 billion. The expenditure will be on workforce and services to patients, excluding infrastructure. “Thirty-nine projects have been initiated, of which two projects have already reached completion,” he said. He said that Qatar’s National Vision 2030 aims for sustainable development with decent living envisioned for all its people. “Progress is not automatic,” he said, addressing the media. “It is based on a long-term and previously-designed vision. The NHS is the first step to achieving the National Vision, and it is the result of two years of hard work by all concerned parties. It has been two years since we started the NHS and the challenge continues to grow daily, but it is rooted in an established foundation guaranteeing success,” said Al Qahtani. But to confirm the success of this strategy, he said, there should be a dialogue. “When we know the loopholes we know we have succeeded, as we then know what to avoid or change and go ahead,” he said. But Qatar’s challenges are huge and unique. It will have to address region/race/ culture-based health issues, given the large and diverse migrant population. Profes-
sor Edward William Hillhouse, Chief of Scientific, Faculty and Academic Affairs at Hamad Medical Corporation (HMC) addresses this issue by saying, “HMC has evolved to meet the changing healthcare needs of Qatar’s growing population, which has grown remarkably in just two decades. The Corporation manages eight hospitals along with further specialist clinical, educational and research facilities, and is growing in capacity each year around the diverse needs of the evolving population. “Ours is a forward-thinking organisation that blends international expertise, accreditation and technological advances with the best elements of Qatari values, innovation and skills. “We have a vibrant, well-trained and multicultural workforce, reflecting the wide variety of communities we serve, who deliver the highest quality care to our patients.” Qatar Today talked to the principals involved in steering the health strategy in the country, to learn about the intricacies involved and to understand the new insurance scheme that will be partly effective from this year and completed by 2016. Shift to a community-based model Dr Faleh Mohamed Hussain Ali, Assistant Secretary-General, Policy Affairs at the Supreme Council of Health (SCH) told us the three main aims of the NHS are to shift Qatar’s healthcare to a more preventative and community-based model, with better coordination and improved quality of care at all levels, to create effective, affordable and sustainable services for all residents in Qatar, and integrate high-quality research and continuous professional development into all areas of care delivery, in line with the health priorities of the country.
“In the first two years of the NHS projects, we have been very busy building the essential building blocks of success for each of the 39 projects, including assigning managers, building project teams and allocating budgets to deliver against project objectives and developing key strategies and building back-bone infrastructure including the development and decree of the Social Health Insurance Law, the launch of the National Primary Health Care Strategy and establishment of the Qatar Council of Healthcare Professionals,” he said. The NHS has also been involved in building additional detail into the implementation plans, and aligning and connecting where projects have interdependencies and require cross-organisation working. Qatar Today questioned Dr Hussain Ali further. What, according to you, are the most challenging aspects of the strategy? The NHS is a large, complex programme of work, with many interdependencies. The challenge is ensuring that all the project teams across the health sector are talking to each other about the plans and the impact changes will have upon other key projects, stakeholders and services. We continually remind ourselves that the NHS is about improving the capacity of the system to improve the quality of care we provide to the
citizens and residents of Qatar. What steps are you taking to ensure greater cordination between publicprivate healthcare systems? The National Primary Health Care Strategy details how primary care will become the first point of contact for patients. In future, care decisions and choice of treatment will be supported and coordinated by the patient’s family doctor. We are also supporting the development of a National e-Health
Dr Faleh Mohamed Hussain Ali, Assistant Secretary-General, Policy Affairs at the Supreme Council of Health
Healthcare Model
Global expertise with local execution The purpose of the Academic Health System (AHS) is to integrate health, education, and research through further collaboration between each partnering institution. The AHS is tried and tested. It has been adopted by some of the most prestigious health systems across Europe, the Americas, Asia and Australia. Recognised internationally as a model for pioneering research and clinical discoveries, these systems deliver high quality patient care and educate world-class healthcare professionals. Qatar’s innovative partnership, launched in 2011, is transforming healthcare here. This is the first partnership of its kind in the MENA region and the world’s first nationwide academic health system. Although its origins are drawn from international best practice, and it is guided by an International Advisory Board, comprised of high-profile international experts in the development and leadership of academic health systems, its execution is distinctly local. As such, Qatar’s AHS is designed to meet the country specifics needs both now and for the future. Over the next five years, Qatar’s AHS will improve standards of patient care, help train the next generation of clinical and scientific leaders in Qatar, and support world-class research. The
Professor Edward William Hillhouse, Chief of Scientific, Faculty and Academic Affairs at Hamad Medical Corporation (HMC)
AHS is focused on six key themes – clinical, education, research, human resources, community engagement and information systems. Within each key theme, ambitious goals and programmes have been developed which will advance, and in some cases, transform health, education and research practice across Hamad and all the other AHS partner organisations. Initially, goals and programmes are focused on developing a number of institutes specifically designed to address the healthcare challenges most relevant to the local population: neurosciences, metabolic disease, cardiovascular disease, cancer and translational research.
qatar today > july 2013 > 49
development > coverstory Qatar which will include provision for a Health Information Exchange.
Key Note Speaker, Dr Cristian C Baeza from Chile, addresses the gathering on the second anniversary of the NHS launch
There is a huge population of single, lower-income male expat population in realtion to the available healthcare facility. This is a woeful situation, and is bound to adversely affect the rest of the population. What specific efforts are being made in this area? Will there be specific clinics for this population? The Supreme Council of Health has a specific focus on this population. In partnership with the Qatar Red Crescent Society, we have opened clinics targeting the worker population. We are currently working with Private Engineering Office, a government agency, to develop a network of primary care centres and hospitals for workers, located for their convenience. These facilities are designed to meet their specific needs and will link effectively with specialist services when more complex care is needed. We expect these facilities to open by 2016. 50 > qatar today > july 2013
Strategy, which will ensure we have the technology to allow patient records to follow the patient through the system. What is the current budget outlay for primary and tertiary healthcare? Qatar is investing significant additional funds in the public healthcare budget. The overall approved budget for financial year 2012/13 was QR9.15 billion, 47% higher than 2011/12. This included an approved budget of just over QR1 billion for Primary Health Care Corporation (PHCC) and just over QR7 billion for Hamad Medical City, who together with the Sidra Medical and Research Centre, will continue to develop the country's tertiary care capability. A report on occupational health mentions workplace injuries and accidents. How do you intend to address these in the interim period before the health insurance scheme falls into place? Who will bear the cost? The occupational health and safety laws are the responsibility of the Ministry of Labor, but Health Ministry supports this through the development of occupational health policies and campaigns which help safeguard all workers across Qatar. All citizens and residents of Qatar also have access to our urgent care and emergency services should these be necessary. Seamless patient record management is a concern now. What are the plans in this area? A smart card that carries all patient information, inter-facility record sharing, etc? Our healthcare providers are committed to implementing electronic patient records. HMC and the PHCC have embarked on an ambitious project to implement an integrated clinical information system that will lead to the creation of a Personal Health Record for each patient. Over the next 12 months, the Supreme Council will be developing a National e-Health Strategy for
Are there any plans for a regulatory framework covering alternative medicine? All herbal medicines available in Qatar currently have to undergo a registration process. Current plans are to introduce legislation to regulate alternative medicine. The most recent draft is currently being amended to incorporate GCC obligations (as there is a GCC project dealing with this matter). Once the draft has been approved by the SCH, it will be submitted to the Council of Ministers for further consideration. The Global shortage of healthcare professionals is a challenge. Do you think current training facilities in the country are sufficient? We want to get the balance right between recruiting the most talented and best clinicians from around the world, so they can help with the development of our system, and developing our own clinicians in Qatar. That is why we have created partnerships with international institutions such as Weill Cornell, Calgary and the College of the North Atlantic who are providing education and training here. Qatar University has also opened a college of pharmacy. We offer incentives to nationals to train as clinicians, and have recently offered sponsorship for long-term residents to undertake clinical training. As part of the NHS we are making an assessment; we are developing a National Health Workforce Plan which considers the number of healthcare professionals we will need in future. We will use this to make sure we are focusing and maximising training in Qatar, and have the right plan to recruit and retain an appropriate international workforce. Added to this are individual efforts by institutions like Sidra which is sponsoring the medical education of almost two hundred Qatari and long-term national residents in Qatar and elsewhere around the globe. “My fantasy is that we will create an intellectual and work environment that entices most of these accomplished young people to remain or return to Qatar and join the Sidra team,� says Dr William Owen, CEO of Sidra. Its Jana Programme, also offers Qatari graduates the opportunity to train for two years in the career of their choice within Sidra. Is there a goal or a target for what the healthcare system should be like or
stand for by 2016, 2022, 2030? Yes, thanks to the Qatar National Vision 2030, we have a very clear goal for our healthcare system – which is to create “a comprehensive, world-class healthcare system whose services are accessible to the whole population”.The NHS 2011-2016 is the first stage of that journey. By 2016 we will offer patients a more comprehensive and accessible service, it will be more integrated, there will be a greater focus on pre-
venting ill-health, there will be a larger high quality clinical workforce, we will have improved regulation of clinicians and facilities, we will have introduced better mechanisms for funding and paying for health services that benefit patients – for example health insurance – and we will have a stronger focus on research and education. The specific changes you will see in these areas are set out in the updated executive summary of the NHS
Insuring the health of the population The formation of the National Health Insurance Company, which will start operating this year and get work under way to implement the first phase of the system, is perhaps the most revolutionary and far-reaching programme of the NHS. Husein Reka, Health Insurance Manager at Supreme Council of Health, clarifies some key aspects of the new National Health Insurance Scheme. By Ayswarya Murthy
qatar today > july 2013 > 51
development > coverstory
Husein Rekha, Health Insurance Manager at the Supreme Council of Health
E
xplaining the idea behind the National Health Insurance Scheme (NHIS), the SCH's Husein Reka says: “The genesis of the plan to introduce social health insurance lies in the Qatar National Vision, which sees a healthy population as a key necessity for the building of a successful nation. One aspect of achieving a ‘healthy population’ is providing ‘effective and affordable healthcare services’, which is one of the seven key goals of the NHS. By launching the NHIS, everyone in Qatar will have guaranteed, affordable and effective access to basic healthcare services from a choice of providers from the public and private sectors.” Ensuring universal coverage is also supported by the World Health Organisation which asks its member states to commit to developing their health financing systems so that all people have access to services and do not suffer financial hardship paying for them. Ryder Smith, Partner, Health Industries at PwC, who have been lead advisers on many of the National Health Strategy
52 > qatar today > july 2013
projects, specifically the National Health Insurance Scheme, explains how all these factors come together in the NHS. “The motivation of the SCH around insurance has been first and foremost for the insurance scheme to be part of the overall theme of improving quality across the entire health economy. Insurance by itself is only one element of what the state, principally through the SCH but also with significant and critical involvement of HMC, the PHCC, other ministries and the private sector, is trying to accomplish with the NHS. All of the nearly 40 initiatives come together and complement each other over time. That is the real beauty and value of the NHS.” PwC has had the privilege and honour of being the lead adviser to the SCH on the implementation of the NHIS for over four years, says Smith. “Our specific role has been to assist with the development of the underlying scheme mechanics, e.g. what should be covered, how it should be administered, and in what sequence it should be implemented. As part of that we have also had the opportunity to draft the newly passed law and associated regulations, and to assist in the formation of the new National Health Insurance Company (NHIC). Most recently we
completed work on the recommended fee schedule with which the SCH will reimburse providers for services provided to members of the scheme. But more important than the fee schedule itself, I would suggest, is the underlying coding scheme which all providers are now in the process of adopting. The benefit of this to the wider health economy, in time, will be enormous,” he says. Challenges anticipated in the roll-out of the NHIS Talking about the challenges anticipated, Reka says: “This is certainly a major undertaking that involves dealing with complexity on several levels. Over the past couple of years, we have already initiated a series of projects as part of the roadmap to prepare for the NHIS. One of the first issues was that of getting a uniform coding system in place to allow insurance processes to work. The ICD-10-AM (International Classification of Diseases 10, Australian Modification) was selected as Qatar’s inpatient coding system, while a custom-made Qatar Outpatient Classification System (QOCS) has been developed for outpatient activity. Providers who are part of the scheme are already using this system. All providers in Qatar will have to use these systems and will be brought into them over the coming year. One of the key challenges expected, according to Reka, “is that of the change to the system as the NHIS is rolled out, in terms of both patient and provider behaviour. These don’t change overnight, and that’s one reason why we are rolling out the scheme in stages. This will allow a smoother transition to the new scheme and systems. “The other reason for the staged roll-out is that it is more efficient to add in select groups of people in phases. It also allows us to learn from each stage and ensure that we are building as robust an NHIS as possible.” There will be a learning curve for all parties as the NHIS rolls out. According to Reka, an extensive communications campaign to inform and interact with the various groups about the scheme has been planned. Smith agrees that with anything “new”, the first challenge is always communication. “Helping providers, payers, patients and other stakeholders to understand why the scheme is being implemented, how to work with it, and what the benefits are to everyone will be a huge task. The SCH is mobilised to do that, and one is confident the communication will be very successful,” he adds.
Relationship between the NHIS and other insurance companies Reka feels the NHIS will provide a greater impetus for the development of more tailored private health insurance in the country. By expanding access to providers for all of the population, the healthcare sector itself will be able to develop faster and better than it currently can because the market itself will have expanded. “In doing so, private health insurance companies will be able to address this expanded market for specific services, including services outside the basic package offered by the NHIS – and also coverage outside Qatar,” he says. What the NHIS won’t cover Cosmetic surgery is not generally covered within a national health insurance scheme as it is elective (i.e. chosen by the person for aesthetic rather than medical reasons). Examples of elective cosmetic surgery would include facelifts, rhinoplasty etc. For clarity, reconstructive surgery will be covered as this will be medically necessary, just like any other clinically indicated services that form part of the benefits package. Expat health cover The onus is now on employers “As you know,” saya Rekha, “all non-nationals must be sponsored to be legally resident in Qatar. The rationale for asking employers to cover the insurance premium is to ensure that responsibility for their employees’ well-being is part of their overall contract of engagement. In a practical sense, it also makes it simpler to ensure that universal health coverage is achieved in a smooth process by dealing with several thousands of employers rather than millions of individuals,” says Reka, explaining the reason behind shifting the onus of healthcare on to the employers. The recently-enacted Health Insurance Law (Law No. 7, 2013), under Article 18, clearly places responsibility for the premiums of employees on their employer. The NHIC will work together with the Ministry of Labour (which is represented on the NHIC Board of Directors) to ensure implementation and adherence to the provisions of the law. “Regarding the kind of premiums that might be involved, schedules are being developed for stages 4 and 5 that pertain to expats. These are currently in process and will be announced well before the launch of the relevant stages. Since stages 1 to 3 cover only Qatari nationals, whose premiums are
Ryder Smith, Partner at Health Industries, PwC
Stages of implementation
July
20I3
Qatari women aged 12+ for maternity and related women’s health conditions (close to 90,000)
QI 20I4
All Qatari nationals in a select provider network
Q3 20I4
All Qatari nationals in an expanded provider network
Q1 2015
All Qatari nationals, whitecollar expatriates and visitors
TBD 2015
All Qatari nationals, whitecollar and blue-collar expatriates and visitors qatar today > july 2013 > 53
development > coverstory covered by the government, this issue does not immediately become applicable,” he clarifies. The NHIS, the blue-collar workforce and health screening The scheme will obviously benefit the workforce because they will all have coverage, and thus access to healthcare services, which is not necessarily the case right now.
“It means that they will have their health issues covered and therefore be able to lead healthier and more productive lives. The scheme will not discriminate against any of its members based on their prior condition or health status, so there will be no incentive for employers to do additional screening besides the mandatory medical commission screening for immigration purposes,” says Reka
Attendees at the second Doha e-Health Dialogue
The changes ahead
The NHIS is not designed to resolve shortfalls in the health insurance landscape. Rather, it is designed to help resolve the issues of access, choice and quality for the population of Qatar with regard to healthcare services in the country. There are several aspects to these gaps that will be resolved with the introduction of the NHIS: People will be able to access a network of public and private providers for their healthcare needs. There will be standardisation. Providers will work on a uniform basis for coding and measurement of how patients' healthcare needs and treatments are managed. In turn, this will provide a mass of data which, when analysed, will give the authorities information that can be used to make informed and relevant decisions on the healthcare needs of the population. There will also be greater transparency, as the information collected gives a clear and measured insight into trends, treatments and results or outcomes of the current treatments. In addition to this, you will see member and provider surveys covering a range of aspects of the scheme. As a consequence, there will be greater quality, driven by competition, as members make informed choices about their selection of providers.
54 > qatar today > july 2013
Clicking on e-health The second of four e-Health Dialogues jointly planned by PwC and Pinsent Masons focused on health information exchange (HIE). The meeting saw the congregation of various stakeholders from Dell, Sidra Medical Research Centre, Qatar Health Insurance Company, e-Europe, Hamad Medical Corporation, Qatar Life and Medical, ictQatar, the Supreme Council of Health and the Primary Health Care Corporation, and hoped to “evolve into a formal steering committee that could take key decisions” in this regard. Dr Sue Feldman, who currently leads the Virginia statewide health information exchange, said: “HIE is the right thing for healthcare as it creates knowledge across the health continuum. Qatar has the wonderful advantage of starting with a clean slate – you can get everyone on board at the same time.” Roger Phillips, Legal Director at Pinsent Masons, expressed the hope that
e-Health will remain one of the top priorities of the SCH. “Let’s say the standards are in place and patient record is agreed upon. Though we can see progress in 18 months to three years, in reality it would take longer to change mindsets and train doctors (starting from medical school level),” he said. According to Smith of PwC, “e-Health is part of the NHS and in our view a central and critical component. e-Health is fundamentally about collecting, analysing and sharing data to effect improvements first in quality, but also in access and cost. That being said, as with the phased implementation of the insurance scheme, the overall e-Health implementation will likely need to come in stages so that participants – providers, payers and customers (patients) – can learn how e-Health can be of benefit to them. As demonstrated in these e-Health Dialogues, the country is ready to take this on.”
“Patients are our priority” Dr Mariam Abdulmalik, Managing Director of the Primary Health Care Corporation (PHCC), describes the National Primary Health Strategy 2013-2018 as “ambitious”. By Sindhu Nair
qatar today > july 2013 > 55
development > coverstory
E
PHCC Outlay
6 II
By the end of 2014, six (6) Health Centres will be constructed.
By the end of 2018, eleven (11) more Health Centres will be constructed (subject to increase).
laborating, Dr Abdulmalik says: “It is a highly ambitious plan to make primary healthcare the foundation of Qatar’s health system and ensure that excellent services for managing sickness in primary care are complemented by excellent health promotion services.” The three main aims of the PHCC are to be evidence-based, within purpose-built, patient-centred and family-oriented facilities; to have a safe, efficient and effective way of treatment; and to maintain a pro-healing environment that is respectful to the culture of the country. According to Bill Gillespie, Assistant Managing Director for Strategy and Organisational Development, National Primary Healthcare Strategy, “we expect to see primary care as an equal partner to hospital care; we expect to see a balance between treatment and prevention in primary care; and we expect to see primary care supporting more patients to take control of their own health. All of these will be translated into measurable goals as part of the implementation of the strategy.” Primary healthcare will focus more on private-public partnerships, and this will be nurtured, according to Dr Abdulmalik. “We are already procuring a private-sector partner to manage and run four of our health centres,” she says, “In addition,
changing the health system's focus 2012
2022 Primary Care Treatment/Manageent
Secondary Care
Primary Care Prevention
Self Care
56 > qatar today > july 2013
social health insurance will give primary care providers the opportunity to step into a growing primary care market.” To ensure greater coordination between public and private primary healthcare systems to ensure seamless service to the patient, “we need to realise that there will be specific services that will be provided by private versus public health systems as part of the national strategy. Once these are defined at a state level, we need to then begin the work of coordination, collaboration and development of appropriate procedures and protocols to ensure all sectors of healthcare are working towards the best care for the patient. The PHCC is a major provider of services in the country and therefore will take the lead in developing the service models that will help realise the national healthcare strategy and vision for Qatar,” she says. Qatar at present has a hospital-centric approach, and HMC is where the population wants to go for quality healthcare services. PHCC’s aim is to reduce that, with primary care being the first contact for the population. This should be a humongous task, as the population’s trust in the primary care centres is still precarious. “The PHCC has a long-standing history of being part of HMC, which is a hospital system. This is why it is very important that in the next three to five years we begin to deliver care that serves the primary care needs of the population.” Calling on the public for support, she says: “We will need to get the support of everyone including the public to start to understand the strategy of primary healthcare, and how to utilise our services appropriately based on the individual’s health needs. The idea is to have the patient at the right venue of care, at the right time and with the right care provider each time. We are also working with HMC to continue to deliver seamless patient care by improving our processes together, whether it is in the area of referrals for specialist care or access to diagnostics and pharmaceuticals.” The confidence of the public in primary healthcare will be a challenge for all of us, and we intend to meet it, she says. “This is why we are undertaking very serious changes that are going to be implemented in the next few weeks to years, and we appeal to the public for their support and patience during this time. The changes will require our own people’s commitment to raise the quality of care we deliver each day. The leadership team of the PHCC is very serious about improving patient
experience in the near future, and many groundbreaking initiatives are already in place to be implemented,” she promises. “To give examples, we are looking at improving patient flow, reception and registration; workforce development and training of staff that is more specific to needs; improvement of the appointment system; reduction of the backlog for specialty clinics; and raising the standard of patient safety and quality as we commit to seek accreditation with an international standard in the next two years. Seamless patient record management is a concern now. But the PHCC has plans to make it a requirement as “systematic documentation of patient medical history and care over time by healthcare professionals is essential in order to deliver quality services.” The PHCC has embarked on two major programmes in this area. The first programme aims to redesign and standardise current paper medical records. The second programme is a joint initiative between HMC and the PHCC to introduce a shared Electronic Medical Record across primary and secondary care. “At present, we have multidisciplinary teams heavily engaged in this programme. We aim to introduce computerised orders and results, e-prescribing, clinical documentation and electronic referrals. It is envisaged that the first facility will go live early next year,” she says. The concept of family GPs (general practitioners) was also mentioned in the NHS, but according to Dr Abdulmalik, it will be looked into in the coming years. “It didn’t take place yet, because in the current stage the PHCC is concentrating on developing infrastructures, expansion of services, expansion of manpower and addition of more relevant subspecialty requirements for the future implementation of the PHCC vision. “For the future, community health services will focus on the preventive aspect. Services such a community clinic that focuses on a healthy lifestyle, obesity, smoking cessation etc. will be worked on. Community or preventive health services will be added and will be covered by multiple healthcare providers as a team, including family physicians, community and public health physicians, nurses, midwives, health educators and social workers in addition to other support staff.” A shortage of healthcare professionals is another challenge that affects the smooth working of the PHCC. Dr Abdulmalki says that there is a need to initiate an
existing phcc centers
Al Shamal Health Center
Khuwayr
Al-Kaaban Health Center Al-Ghuwariya Health Center Al-Jumailiya Health Center Al-Khor Health Center Al Daayen Health Center Umm Salal Health Center
nuqay'ah
Al-Shahania Health Center
khawr jumaliyah
Al Gharafa Health Center Al-Rayyan Health Center West Bay Health Center Madinat Khalifa Health Center
umm salal'ali
dukhan
rayan
umm bab
doha
wakrah
Umm Ghawalina Health Center Al Muntazah Health Center Airport Health Center Omr Bin Khatab Health Center Mesaimeer Health Center Al-Wakrah Health Center Abu-Baker-Al-Sidiq Health Center
Abu Nakhla Health Center
umm sa'id
kir'anah Al-Karaana Health Center
kharrarah
academic department to deal with formal training and certification. In addition to recruitment, outsourcing of the recruitment process may be considered to overcome the shortage of health professionals. “The training facilities to produce graduate family physicians are not sufficient; there is only one health centre for training for the Arab Board of Family Physicians (West Bay Health Centre) where the throughput is only about 10 physicians per year. “The recommendation is to upgrade the training facilities and recruit trainers as a transitory stage until we have our local trainers.” qatar today > july 2013 > 57
development > coverstory The PHCC aims to be a continuous point of contact “Primary care, as a proven model in other, first world, countries, should be the first point of contact for managing wellness and chronic conditions. As patients are required to get more specialised care beyond primary care services, these referrals will be initiated from our primary care physicians to the right level of specialist for the patient to receive their next level of care as most appropriate and needed. After the patient receives this needed treatment or further testing from a secondary or other specialist, they will come back for wellness and maintenance, screening and chronic conditions programme management of their existing diseases. "The advantage of having an Electron-
ic Health Record (EHR) in the future is that it will allow the PHCC to share and access pertinent records with other healthcare providers within Qatar, mainly HMC. " The goal is to make it easy for patients to access the right level of care at the right time with the right provider, says Dr AbdulMalik. PHCC for the workers There are currently two health centres that have been designated and transitioned from the PHCC to the management of Qatar Red Crescent, who are now managing these primary care centres to cater for the growing population of workers. These are Al Mamoura and Al Wafideen healthcare centres
“A treatment gap in mental health care” Dr Suhaila Ghuloum, Senior Consultant Psychiatrist at HMC WORKING ON THE National Mental Health Strategy, Speaks on the subject of mental health – which worldwide is probably the single largest burden on healthcare.
58 > qatar today > july 2013
R
eflecting worldwide trends, studies conducted in Qatar have revealed that one in five people will experience a mental illness at any one time. Three of the top five causes of disability in Qatar are mental disorders, namely depression, anxiety and substance misuse. We also know that there is a treatment gap here – it’s estimated that fewer than 25% of the population who need mental health services are accessing them. People are currently receiving services through the Department of Psychiatry, and the transformation of Qatar’s mental health services has begun, but there is a long way to go to address this gap, says Dr Ghuloum. “Service provision will involve multiple providers, therefore more studies are being conducted to further evaluate the gap currently present in mental health needs, in collaboration with our stakeholders,” she adds. The Supreme Council of Health Executive Committee, chaired by HH Sheikha Moza bint Nasser, is leading system-wide change in mental health in Qatar. The new Qatar Mental Health Strategy, which is planned to be launched by year-end, will deliver a high-quality mental health system for Qatar, including the introduction of a Mental Health Law, and outlines the plans to implement a broad range of programmes and services. “With the support of HE the Minister of Health, funding and resources for mental health care will steadily increase to build capacity and support the implementation of the strategy. Through education, we plan to build the capacity of the community to maintain good mental health and well-being and to recognise the signs and symptoms of mental illness. "We will also build the capacity of the mental health workforce in Qatar to
support the delivery of individually tailored, accessible care, based on treatments that work. Care will be delivered in a range of settings including primary care, community and inpatient services to ensure the mental health needs of Qatar are met." Also, independent studies have shown that narcotics abuse is prevalent in the country and the region. Will there be recovery treatment centres for this? “Developing specialist services for people experiencing these types of difficulties is essential for a comprehensive system of healthcare and new facilities are being planned. Qatar has recognised the importance of providing recovery-focused treatment for this group and has already invested in the development of two specialist substance misuse services – the Treatment and Rehabilitation Centre and Naufar. These services will have strong links with the mainstream mental health system. The Department of Psychiatry is currently collaborating with the Social Rehabilitation Centre for referral of some patients presenting with substance misuse." Psychiatric services work closely with the Permanent Committee for Drug and Alcohol Affairs on raising awareness about prevention, recognition of substance misuse and early intervention in schools, students and teachers. Health promotion initiatives encouraging healthy lifestyles
Dr Suhaila Ghuloum, Senior Consultant Psychiatrist at HMC
“Service provision will involve multiple providers, therefore more studies are being conducted to further evaluate the gap currently present in mental health needs, in collaboration with our stakeholders,” qatar today > july 2013 > 59
development > coverstory will also provide people with information about how to access services specific to this need. Challenges faced in mental health care In Qatar, as in many countries, the stigma often attached to mental illness is a barrier to health care and quality of life says Dr Ghuloum. Negative attitudes about mental illness prevent individuals and families from seeking help and impact their capacity to participate fully in community life. “The social stigma is a significant challenge, and education is critical to our mission to reduce the impact of mental disorders in Qatar. We will need the support of the community as a whole to bring about a major transformation in attitudes about mental health. Awareness campaigns and training initiatives will increase knowledge about how to identify mental illness and to access services and will promote positive attitudes about mental health in Qatar,” she says. But stigma is not the only challenge. “Mental health is a complex area and will require collaboration and integration across a range of sectors to support the im-
plementation process over time. "The new model of mental health care has significant implications for facilities and infrastructure, and we face challenges in developing an appropriately skilled workforce to manage and treat a range of mental health issues, especially as we shift to deliver care in primary and community settings,” she says. Early intervention needed Dr Ghuloum talks about mental health difficulties in childhood and adolescence, which are common here, and says, “a lack of attention to this age group may lead to lifelong consequences”. “The mental healthcare needs of children and adolescents in Qatar will be met through specialised service provision, which will provide effective assessment, treatment and support for young people and their families. "The focus will be on early intervention to deliver improved outcomes. School settings will be a key area with teachers and school nurses being educated about how to recognise mental illness and onward referral procedures.”
“Cutting edge and compassionate
healthcare” Dr. William Owen, the newly- appointed Chief Executive Officer at the sprawling Sidra facilities in Education City shares his vision of the hospital’s larger role in the National Health Strategy.
60 > qatar today > july 2013
F
irst things first: Dr Owen talks about Sidra’s grand opening, “We are at present setting our opening date more by the achievement of extraordinary experience and competency than by a calendar.”
Sidra’s role in the implementation of the National Health Strategy (NHS) “There are a number of components of the NHS that align with and bolster Sidra’s commitment to redefine health and healthcare for women and children," says Dr Owen, "For example, in striving to achieve new standards in patient care, like the NHS aims to, we will focus on improving our patients’ health as much as offering cutting edge and compassionate healthcare. " "Like the NHS, we view our clinical services as extending to the community, so we will coordinate and integrate with the network of health providers in Qatar who are predominantly community-based. Therefore, Sidra will not focus on an individual episode of ill-health that brought a patient to us, but will work to improve the individual’s health and healthy practices throughout their life.” Research goals Research at Sidra will be a defining activity says Dr Owen. "The quality and uniqueness of our research will be a defining attribute. We will perform research at many levels of Sidra. First, research will be conducted routinely in terms of identifying better ways to care for patients and their families, – even when a cure is known. For example, research will be conducted to see if a known treatment can be administered in a way that results in a speedier recovery, or is associated with less discomfort or
inconvenience. Research will be routinely conducted to test new therapies with comparison to old therapies for patients. And of course, with our substantial laboratory research base, we will be developing new therapies ourselves that are derived from the discoveries in Sidra’s laboratories, also known as translational research. "We are rapidly assembling a team of translational scientists and research clinicians with a special expertise in the cuttingedge technique of gene and cellular therapy. These unique and novel therapeutic approaches are based on the ability to replace cells in children that carry damaged genes. These genetic defects can cause severe and often life-threatening diseases. The genetic approaches intended at Sidra are available at only a few world-class research centres in the world and promise the ability to treat diseases that, until now, were virtually untreatable. "Our sincerity and the evidence of our purpose is given witness by the recent acclaim of groud-breaking research just last month from a global-based team of scientists that included Sidra’s Chief Research Officer, Francesco M. Marincola.”
Dr Willianm Owen, CEO at Sidra
The NHIS and Sidra “Sidra is carefully reviewing the publicly available information on the NHIS to ascertain its positive impact on patient access. As a specialty provider of health services for women and children, we look forward to participating in the early feasibility testing of the NHIS. "We also see our participation in the conduct of clinical outcomes, health services, and health economic research that will quantitatively verify the favourable impact of the NHIS on health and the cost of care for the residents of Qatar.”
An artist's impression of the completed Sidra facility at Education City
"We are at present setting our opening date more by the achievement of extraordinary experience and competency than by a calendar.” qatar today > july 2013 > 61
business > bottomline
Freelancing as a Career
in the Middle East Bayt.com explores whether freelancing in the Middle East is a good career option.
I
n the current shaky but recovering job market, freelancing can open up a host of opportunities for professionals to earn more income, or even as a primary source of income. Freelancing is a great option regardless of whether you are an entry-level professional or stay-at-home parent, or have a full-time job. Bayt.com has recently conducted a poll to gauge perceptions of the freelance job market in the Middle East. The poll, entitled “The Bayt.com State of the Freelance Market in the MENA Region” (June 2013), reveals that freelancing is considered by 75.2% of respondents to be a good option for someone working in the Middle East and North Africa (MENA) region. So, how viable is freelancing in the MENA region? And is it a good idea to take on freelancing on a full-time basis? The career experts at Bayt.com, the Middle East’s #1 job site, answer some of these questions by weighing the pros and cons of a freelancing career in the Middle East:
poll
shows that good freelancers:
62 > qatar today > july 2013
28
%
are flexible and adaptable
The Pros Choose when to work As dual-career families become more commonplace, so is the need among professionals to be more flexible with their work hours. Freelancing offers you the flexibility to choose your work hours. You’re working for yourself, after all. As long as you get the work done, that’s all that matters. Make more money 64% of professionals in the region would take up freelancing to earn more, while 55% say that freelancers have the potential to earn more than full-time employees. Depending on the time and resources you have, you can stand to make more money freelancing. Achieve a better work-life balance 31% of professionals in MENA say freelancing is a good option for a better work-life balance. Indeed, freelancing can offer you the convenience of working from home and structuring your work commitments around your family life and activities.
I6
%
have great self-confidence
Do what you love With freelancing, you can decide which of your skills could be turned into a full-time freelance career. According to Bayt.com’s poll, 24% of professionals in MENA believe that freelancing would allow more focus on what they truly love to do. Control your career path The Bayt.com “Career Reinvention and the MENA Workplace” poll (May 2011) reveals that 82.4% of Middle East professionals desire a career change. The Gen-Y professional of today is less risk-averse when it comes to career changes, i.e. they are more likely to risk a career change. Freelancing allows you to mould your future to a large degree: you can choose what kind of projects to work on, when to do them, how much extra work you need, and what direction to take. In fact, 12% of professionals feel that freelancing can give them better control over their career path. The Cons Inconsistent flow of work and income Unlike working as a full-time employee – where regular work and income are guaranteed – as a freelancer, neither the flow of projects nor the end-of-month pay cheque is guaranteed. Your projects and income fluctuate based on the overall state of the market, opportunities, clients etc. This can be hard to live with for many people, especially when you have a lot of fixed monthly expenses that have to be paid. You have to find work on your own With freelancing, you don’t just spend time working; you also need to spend time building your network of clients. This is perhaps why 31% of professionals in MENA said that they don’t know how or where to start. A good piece of advice is to start by working for people you know to gain experience.
I5
%
are good at multi-tasking
Many laws and regulations Depending on the country you live in, there are laws and regulations you need to be aware of. Research these online and, if possible, seek legal help. On a related note, visa issues are also considered a major concern for 15.6% of professionals in MENA who want to embark on a freelancing career. Takes a lot of discipline Being your own boss, delivering within deadlines, doing what you’re supposed to do and so on takes a lot of discipline. One thing that’s definitely for sure is that freelancing isn’t for everyone. No benefits A top concern for freelancers is not having any medical insurance or benefits. As a freelancer you will not enjoy any medical coverage, paid sick days, paid leaves, retirement savings, and many other common employee perks and benefits. So, should you consider freelancing on a full-time basis? In light of the above, it’s definitely hard to be a freelancer. But it can also be extremely rewarding. Most things have pros and cons, and it’s up to you to decide how all of these points weigh in on that final decision. Bayt.com poll shows that good freelancers are flexible and adaptable (28%), have great self-confidence (16%), are good at multi-tasking (15%), have good time management skills (15%), and have excellent communication skills (10%). The candidates best suited for a freelance career would therefore be self-motivated, punctual and organised professionals who don’t mind working independently. They must enjoy working from home and setting their own schedule while successfully achieving a good work-life balance
I5
%
have good time management skills
bayt Bayt.com is the #1 job site in the Middle East, with more than 40,000 employers and over 11,595,000 registered job seekers from across the Middle East, North Africa and the globe, representing all industries, nationalities and career levels. Post a job or find jobs on www.bayt.com today and access the leading resource for job seekers and employers in the region.
I0
%
have excellent communication skills qatar today > july 2013 > 63
affairs > local
CULTURAL CHANGE FROM THE OUTSIDE IN 64 > qatar today > july 2013
Building the right culture within an organisation should be practised from day one so employees can work off it to stimulate their performance. However, what if the culture isn’t fostering the right results within the organisation and it needs tweaking? How should you go about doing this? By Dave Ulrich
A
senior executive called me recently and said that he wanted to “change his culture”. When I asked what he had in mind, he talked about how he felt that the underlying norms, values and ways of working were not effective and that he wanted to bring his top team together to discuss how to build a new culture. With this new statement of his organisation’s desired culture, he could then help people behave consistently with the new culture. He was partly right. Culture changes patterns, not just events. Many executives are seduced by events like off-site meetings, communications forums, tweaks in compensation systems, public announcements and so forth. But culture change focuses on new patterns of activities, the things employees do without thinking. Too often executives define culture from the inside out: our behaviour, our values, our norms, our ways of working. These internally-focused culture change efforts generally fall short. Redefine culture from the outside in Think of culture as the identity of the firm in the minds of its best customers (or investors). Think of culture as your firm’s brand. Start the culture discussion by figuring out
what key customers want your organisation to be known for. By focusing on customers, culture change is not just a nice thing to do, but a source for establishing sustained customer commitment. Strong brands foster both increased customer loyalty and revenue for the same product. By aligning corporate culture inside with firm brand outside, you not only find a new way of working, but you find the right way of working. When the executive realised that his desire to change culture should begin with gaining clarity around his firm’s brand and customer expectations, he began to broaden his view. Culture change became more than just an off-site team rally, but a fundamental repositioning of his organisation even more focused on meeting the needs of targeted customers. He committed to four steps to build a culture from the outside in.
“Think of culture as the identity of the firm. Think of culture as your firm’s brand. Instead of executives diagnosing what they perceive as the desired culture, start the culture discussion by figuring out what key customers want your organisation to be known for.”
Step 1: Gain clarity on what we want to be known for by our best customers (or other external stakeholders) When he first brought his management team together to talk about culture, each person was asked to respond to the question “What are the top three things we (our organisation) want to be known for by our best customers in the future?” With 12 members of the leadership team, there qatar today > july 2013 > 65
business > bottomline were 36 answers. When they were clustered into common answers, the top three clusters had 20 of the 36 answers, or about a 55% unity. This surprised him, as the team had done work on vision, mission, and strategy. The team then looked at customer surveys, focus groups and their history to determine how they wanted to distinguish their organisation. After a few hours, they were able to zero in with some unity and confidence their top three qualities. This is a statement of firm identity or firm brand as experienced by customers; it is also a statement of the culture as experienced by employees. For the past 15 years, my rule of thumb is that the senior team should have about an 80% consensus on what they want their organisation to be known for by its best customers. But even well-managed teams have individuals with differing views on what they want to be known for by their best customers. However a few hours of debate and discussion, the team can begin to coalesce around their desired brand or identity in the view of their customers. Seeing the culture through the eyes of the customer unifies the team to a common agenda and it sets the standard for new patterns of activity.
Dave Ulrich is a professor at the Ross School of Business, University of Michigan and a partner at the RBL Group, a consulting firm focused on helping organisations and leaders deliver value. He studies how organisations build capabilities of leadership, speed, learning, accountability and talent through leveraging human resources. He has helped generate award-winning databases that assess alignment between strategies, organisation capabilities, HR practices, HR competencies and customer and investor results. Dave has published over 25 management books and over 200 articles and book chapters. He was the editor of Human Resource Management Journal (1990-1999), has served on the editorial boards of four other journals, and is a Fellow of the National Academy of Human Resources. 66 > qatar today > july 2013
Step 2: Make the culture real to customers An articulated firm brand outside (and culture inside) can then be translated to the customer experience. Every point where a customer touches or is touched by the organisation should reflect the desired culture. Asking customers about how they experience the desired culture is a test of the extent to which it exists. For example, you might have executives behave as customers and see if they experience the culture they espouse, or you might use focus groups of targeted customers to determine whether your desired firm brand meets customer expectations. Step 3: Make the culture real to employees When internal employee experiences coincide with external customer expectations, the new pattern of employee behaviour is likely to be sustained. We have found four ways to make outside customer expectations real to employees. First, adapt leadership behaviours inside to customer expectations outside. In the book Leadership Brand, Norm Smallwood and I suggest that most studies of effective leadership still focus either inside
the individual or inside the company (define competencies by separating the high and low performers within our company). We suggest that sustained leadership success comes when leadership behaviours inside an organisation reflect customer expectations outside, or what we call leadership brand. So, once your leadership team has identified your desired firm brand, it can then determine the leadership behaviours that make this identity real to employees. Second, shape a top-down or intellectual agenda. Customer expectations need to be defined and talked about redundantly. Build awareness of what customers think and how they act. Use many communication tools so that employees are attuned to thinking about how their actions are viewed by key customers. Third, create a bottom-up or behavioural agenda. Leaders teach correct principles but let employees govern themselves. Executives might use town hall meetings, problem-solving groups, action learning teams, and other forums where employees learn the essence of the customer-centred culture, but then figure out how they can make it real to them in their jobs every day. When employees determine what they will personally do to make the culture real to them, it is less an abstraction and more a reality. Finally, create a side-to-side or process agenda. Culture should show up in a host of management processes: who is hired, who and what is trained, how compensation works, how decisions are made, how strategies are formed, how information is shared. When these management processes shape and are shaped by the culture, it begins to be a pattern. Step 4: Build a 90-day action plan One executive said that too often culture is when the rubber hits the sky. It is nebulous and so long-term that it never happens. Leaders who really change their culture do so in chunks. In the first 90 days, a company may work on communications both inside and outside. In the next 90 days leaders might engage employees in how the desired culture affects their behaviour. In the next 90 days, staffing, training and compensation systems might be modified. When HR professionals facilitate culture change discussions from the outside in, they start with firm brand or identity and translate it to both customer and employee experience. This approach to culture is sustained less by the personal whims of the executive and more by the desire to gain customer share in competitive markets
Wealth Creation is the Crux
By Ayswarya Murthy
Wealth owners in the Middle East will start to feel the need for a Single Family Offices to manage their assets
T
he wealth in the Middle East, especially Qatar, has seen consistent double-digit growth for several years now. A recent survey stated that high net worth individuals (HNWIs) in the Middle East are more confident about the increasing speed of wealth creation than those in any other market. The latest report in the Barclays Wealth Insights series reveals that the figure of 100% of Qatari HNWIs (UAE – 68%; KSA – 54%) who have accumulated their wealth within that timeframe is the highest of any country surveyed. Most of the wealth has been accumulated through profits from business, personal investments and profits from property. Over half (60%) of respondents in the Middle East agreed that wealth can be created faster today than in the past, in comparison with 43% in Europe and 31% in North America.
The need of the hour A slew of recent studies and research has uncovered just how staggering the growth really is and how the nature of wealth here has been hitherto misunderstood, mainly due to placing “a western template on Middle Eastern reality”, according to Andrei Postelnicu from Campden Wealth, which recently released its first-ever report on the wealth in the Middle East. Entitled, "Beyond Convention", the report, which was sponsored by the Qatar Financial Centre, stated that over 75% of the private businesses in the region are family-run. The report highlighted some other key aspects that stand out and make investment firms and wealth managers sit up and take notice – namely, that a big majority of these businesses actively pursue wealth creation rather than preservation owing largely to qatar today > july 2013 > 67
business > tag this
Yousuf Al-Jaida (second from left) and Andrei Postelnuci (second from right) presenting Beyond Convention
the fact that even second- and third-generation businesses are still in entrepreneurial mode, with “a certain dynamism which you won’t find in companies elsewhere which are at a similar stage of evolution”, according to Postelnicu. This directly means that demands of double-digit returns are not considered unrealistic. (“These expectations have been realised in the past in Middle Eastern markets,” says Yousuf Mohamed Al-Jaida, Chief Strategic Development Officer at the Qatar Financial Centre Authority.) Businessmen are more handson with their investments than ever before, with many of them less than satisfied with the lack of transparency and accountability of private banks and wealth managers. All these indicators have led the QFC to believe that the time is right to facilitate the growth of family offices in the region, as is apparent from the introduction of Single Family Office (SFO) regulations. “These regulations are designed to streamline and
speed up the procedures for establishing a family office in those centres and are likely to significantly contribute to the growth of these entities in the Middle East. This, as well as the existence of similar regulations at the Dubai International Financial Centre, is likely to boost the trend,” Campden Wealth says in its report. Family offices: Presence and proliferation in the Middle East For the uninitiated, Postelnicu explains: “Family offices provide an infrastructure to manage the personal fortunes of significant wealth owners. It is an institutionalised entity that can deal across jurisdictions with a focus towards investment and capital preservation.” Their services might also include managing assets, trust funds, legacy, philanthropic initiatives and luxury (concierge) services. Campden Wealth, which provides information, news and education for generational family business owners and
reasons to consider setting up a family office
80%
To manage my financial matters
I00%
To manage the overall family wealth
83%
wealth planning To help coordinate concierge services to rely less on external financial groups To help with philanthropic efforts educational, to pass wealth wisdom on the next generation
50% 50% 67% I00% Source: Qfc/Campden Wealth Middle East Wealth Report 2013
68 > qatar today > july 2013
family offices globally, estimates that there are probably just around 60-75 family offices in the Middle East, which is way fewer than there should be given the high density of substantially wealthy individuals. But the high and ultra-high net worth individuals here are waking up to the allure of creating a family office, or rather formalising it. “Families in the Gulf often begin by increasing their investment focus, adding additional staff to oversee that function,” says Angelo J. Robles, Founder and CEO of Family Office Association, a global forum for wealth owners and the professionals who run their single family offices. “Then they gradually professionalise the office, perhaps now calling it their family office.” “Although family offices have yet to take hold among the investment structures of the very wealthy in the Middle East, at least within the region, the potential was compelling,” the Campden Wealth report says. Robles agrees, saying that even though their current membership is “modest” in the Middle East, he anticipates winds of change in the coming years. “I see the most interest in families exploring to create an SFO in the Middle East. The families here are very interested in information about how other SFOs are set up, and have been attending global workshops and conferences on this subject,” he says. The family office edge But why would businesses bother with setting up family offices, the running costs of which are quite substantial, when private banks and wealth managers seem to offer the same services? A family office doesn’t necessary replace, so much as act a buffer between the wealth owner and these entities. When you are dealing with multiple private banks or wealth managers, as is the prevalent practice among wealthy individuals here, a family office focuses resources and streamlines performance information. Robles asks: “Who wouldn’t see the value of privacy, control and customisation, much of which is not guaranteed when trusting this to outside entities?” Campden Wealth suggests that above certain levels, wealth becomes unmanageable as a part-time effort and requires fulltime engagement. “Neglecting this aspect can result in unfortunate outcomes: in the best cases, sub-optimal returns on investments, and in the worst, the deterioration of the liquidity that had been created.” Andrei has another worrying statistic that might shake wealth owners in the Middle East out of their “if it's not broken, why fix
family office investment horizons
dealing with multiple private banks or wealth advisers
I3%
I0 years
43%
4
%
6
%
5 years
four
20 years plus
7%
more thanfour
I8% one
6%
I2 months
25%
three
I9%
24 months
I3
%
46% two
36 months Source UBS/Campden Wealth Middle East Wealth Report 2013
it?” mindset. “We have seen that, due to a variety of reasons, only 38% of the family wealth is transferred from the first generation to the second and only 3% filters down to the third generation,” he says. Conducting these businesses internally, often with the corporation’s financial department also handling the family’s wealth affairs, is also an option when compared with establishing a separate limited-liability concern. “It’s best to separate the legal liability concerns of the family office and the business. In some countries there are also labour and other regulatory concerns over such co-mingling,” says Robles. Additionally, he feels, the SFO is treated as an afterthought in co-mingling employees, as this stretches people too thin. Investing differently Fadi Salibi, Head of Middle East at AXA Investment Managers, says they are actively involved with family offices in the region, and points out how they are more return-driven than corporations. “Investment done for a family can be aggressive, imaginative and long-term,” he says. “Family offices don’t demand cash on short notice like companies do, and have a longer horizon, allowing us to invest in areas in real estate, equities etc.” He warns, however, that if the hierarchy is not properly defined, decision-making can be long and tedious. “SFOs are highly professional investment vehicles with talent focused and exclusive to the SFOs, including often investment banking professionals doing global direct deals. Many SFOs allocate to hedge funds and other alternatives,” suggests Robles. “Distribution needs among the family members also need to be taken into account, and investment policy statements,
Source Qfc/Campden Wealth Middle East Wealth Report 2013
asset allocation and execution issues are also shaped by that. “People don’t know what they don’t know” Most Arab families are reluctant to go down the road of establishing an independent legal entity to deal with their finances. Robles sees this exclusively as a problem of not knowing. “There needs to be better education on the option of a single family office, and then there is the issue of who to go to in obtaining more knowledge and setting one up,” Robles comments. “There are not many in the Middle East yet with such knowledge, and families of substantial wealth here would see the value in a single family office if they were more aware of them.” Campden Wealth, in its report, has also said that wealth in the region is relatively new, and “operating family businesses have yet to experience the type of ‘liquidity events’ (be it an initial public offering, or an acquisition by a larger company) that tend to fuel the emergence of family offices in other markets”. But the very nature of Arab business practices, and where they like their financial advice to come from, means that the growth of family offices here will be more of a bell curve than anything else. “Private bankers and advisers can talk all they want to the wealthy Arabs. They won’t get anywhere. The way you’ll get them to change is to show them the example of other Arabs who have established family offices. Put them at the same table as respected veterans, patriarchs they’ve read about. Let them hear stories about why a family office is a good idea from these people they respect and want to emulate. That, my friend, is what will work,” a family principal from Dubai said in the report
Angelo J. Robles Founder and CEO of Family Office Associations
A closer look at the highlights of QFC’s Single Family Office Regulations For the purposes of the single family office, a family is made up of one individual or group of individuals all of whom share the bloodline of a common ancestor. The family must have a minimum of QR18 million ($5 million) of investable/liquid assets under management. It may not engage in any activity that constitutes a regulated activity as defined by QFC regulations. qatar today > july 2013 > 69
development > tag this
Marhaba,
Guv'nor! Aisha Ghanem Al Attiya from the Office of Strategic Cultural Relations at the Qatar Museums Authority (QMA) speaks to Qatar Today about how “Qatar UK 2013 Year of Culture” will build bridges while lending new perspectives. By Ayswarya Murthy
70 > qatar today > july 2013
R
ight on the heels of a successful year-long cultural exchange, with Japan in 2012, comes another year commemorating another old friendship. In celebration of diplomatic ties stretching over six decades, and with a sizeable British expat community based in Qatar, QMA and the British Council have come together to host over 70 events in both countries, highlighting their rich traditions and cultural depth. “A very important tenet of the Qatar National Vision 2030 is to help Doha evolve into the cultural hub of the Middle East,
and it was with this in mind that we started the Year of Culture programme last year,” says Aisha Ghanem Al Attiya. “Through this we hope to bring the world to Qatar as well as take Qatar to the world.” It seems like a tall order, but the programme has enlisted the help of iconic and pioneering institutions from both countries towards achieving this noble and seemingly intangible objective. From Qatar Foundation to the Tate and Shakespeare’s Globe to the Doha Film Institute, all are putting their weight behind promoting the exchange of ideas across fields as diverse as sports, film and media, performing arts, art and design, education and more. Even with the year well under way, there is plenty still
Watch out, Doha: Special Mentions
The Selector Sundays (4 p.m. - 6 p.m.), 97.5 FM The British Council’s award-winning international radio show The Selector, which has been broadcast in over 37 countries, can now be heard in Qatar. Tune in weekly to QBS Radio to hear the very best in contemporary music from the UK, from indie, grime and dubstep to folk, soul and electro, and everything else in between. Each show also features interviews and exclusive studio sessions from some of the most exciting artists in the UK.
Designed to Win Till June 23, Katara A collaboration with the Design Museum of London, Designed to Win explores the various ways in which design has influenced sport and how, in turn, sport has influenced design, art and culture. From revolutionising sports opportunities for people with physical impairments to the process of designing sporting equipment and the role design plays in safety and performance, the exhibition gives you an insight into this overlooked yet pivotal aspect of sport.
to look forward to. We are aware we are putting Aisha Al Attiya in a fix by asking her to mention some of the events that are close to her heart. She has to think hard. “Definitely, ‘Pearls’ at the Victoria and Albert Museum is one of them.” That exhibition, which is being organised in partnership with QMA, will explore the history of pearls from the early Roman Empire to the current age, and will be on display for four months starting in September. “For Qatar, which was exporting pearls long before it was exporting oil and gas, this event has special historic and cultural significance,” she says. “Qatari royals and elites had been adorning themselves in these signature pearls fished
out from local shores even before they knew how famous and sought-after these would become.” The advent of cultured pearls, of course, put an end to pearl-diving, but the country remains fiercely proud of its history. Among the many “firsts” in Doha this year is the staging of Stomp. One of the most widely-performed and longest-running theatre stories, born on the streets of Brighton, Stomp brought its reverberating rhythms to Doha for the first time last this month. We saw them at the London Olympics closing ceremony last year; now we could catch their furious choreography, wild percussion and staggering acrobatics live. The QMA is also hosting, in October,
3-D Encounters Till December 31, UCL Qatar Science meets heritage at this mind-blowing 3-D exhibition of artefacts from UCL's Petrie Museum of Egyptian Archaeology in London, offering a 360-degree view of ancient items that range from fragments of stone vessels and carved wooden hair combs to the skull of an ancient Egyptian ruler. The exhibition adds another dimension by being interactive: hunt for artefacts in a virtual simulation of an archaeological dig in Egypt, restore a mummy, and recreate the facial features of a skull that archaeologists believe is that of an ancient ruler named Inti. qatar today > july 2013 > 71
development > tag this
The QMA is also hosting, in October, for the first time in the Middle East, a solo exhibition by the prolific English artist and collector Damien Hirst.
72 > qatar today > july 2013
for the first time in the Middle East, a solo exhibition by the prolific English artist and collector Damien Hirst. “It’s always a challenge for someone to engage with and understand an alien culture,” says Al Attiya, and she couldn't have said a truer word. For children, however, fresh and eager, this never seems to be a problem. Which is why Al Attiya is quite excited about an initiative that looks to develop new resources to introduce Arabic language and Qatari culture in British schools at the primary level. “This will be an ongoing process and will extend beyond the end of Qatar UK 2013,” she states. There is an underlying vision to Qatar UK
2013. “These are not just merely a sequence of events. There is a deeper message that we are looking to convey to people in the UK. They see us there, popping in and out of Harrods, weighed down with shopping bags, and they think ‘oil money’. But that’s not where it stops,” she says passionately. “Qatar has much more than oil and gas, and we are not all about the money; Qataris have a deep respect for music, art, sports and education.” This understanding is what the programme hopes to inspire among its friends in the faraway UK. HE Michael O’Neill, the British Ambassador to Qatar, said in a press statement: “Culture and education are areas of mutual
Clockwise from top left: Part of the Ferozkoh collection from Afghanistan HH Prince Charles and the Duchess of Wales during their recent visit to Doha
strength for Qatar and the UK, and Qatar UK 2013 builds upon that. We are pleased to see bilateral ties deepen with the recent visit by HRH Prince Charles and the Duchess of Cornwall, as well as Ed Vaizey, UK Minister of Culture, and David Willetts, UK Minister for Universities and Science.” Considering the duration and scale of the project and the fact that it is only in its second year now, it’s understandable that the QMA's Strategic Cultural Relations Office is still figuring out how to negotiate its way around some of the difficulties. “It’s a real challenge to coordinate between so many different institutions and get events approved and off the ground. We
underestimated the time required to get many of them on board,” admits Al Attiya, when talking about the skewered spread of events between here and the UK, and the failure to highlight and capitalise on a common craze – football. So this year they aren’t wasting a single day, and the office has already rolled up its sleeves and got down to business with next year’s programme. “We have finalised countries till 2018, and up next year is Brazil!” she says. We can’t wait for the sizzling country to bring us in full measure its vivacious, party spirit, vibrant, foot-thumping music; colourful culture, and, of course, football
Rock on Top of Another Rock art installation by Fischli/Weiss in Kensington Gardens which will eventually go on display in Doha A scene for Al Muqanaa, which premiered at the Liverpool Arab Arts Festival as a part of the "Made in Qatar" film programme At a performing arts show At the Arts and Disability Festival The Rosebery Tiara, part of QMA’s Pearls Collection Wallace & Gromit Basketball player Mariam Hussein’s photograph at Hey ‘Ya (bottom left)
qatar today > july 2013 > 73
development> entrepreneur exchange
Engage your
conviction “My decision to invest in selfdevelopment has helped me to develop a better business model, from which I’ve been able to secure the best resources, be they manpower, capital or ideas. I’m a better entrepreneur thanks to the training and education that I’ve undertaken.” 74 > qatar today > july 2013
Qatar Today continues its focus on big entrepreneurs who have received recognition for their intuition, vision and determination to succeed. This month, we talk to Deepak Kuntawala, founder of DVK International, who was recently hounoured with the title "Global Entrepreneur of the Year" at The Indus Entrepreneurs (TiE) UK Awards. He is also the first man to introduce a women-only Sharia fund to the Middle East. by Rory Coen
F
or many people, gaining qualifications and degrees is simply a means to a specific end: getting into a secure job with an established company where they can slowly rise up the corporate ladder by performing adequatly, while carefully avoiding anything that might affect their comfort zone. Others can’t leave these early-career “internships” fast enough to free their entrepreneurial spirit. Deepak Kuntawala belongs to the second group. Rather like a coil-spring, he absorbed as much information as he could from a tender age before releasing it all when the time was right. Post-graduate programmes in Finance and Leasing and Market Research followed his business degree. He learned his trade with various
investment banks such as J.P. Morgan and Credit Suisse First Boston. All the while, he crucially kept an interest in the family business, seeing this market as holding the most opportunities. It was only a matter of time before he hit the release button. “There is no greater thing you can do with your life than follow your passion, in any way that serves you and the world,” Kuntawala says, paraphrasing Virgin founder Richard Branson after he collected his TiE award. “Establishing a business was a conviction that I had since I was a child. Once I had garnered enough experience, I decided to go it alone and set up my own business.” Kuntawala’s family emigrated in the late 1970s from South Africa to the UK, where Kuntawala and his brothers eventually created the London-based Kaysons Trading Company, a wholesale and distribution organisation dealing in gift- and artefact-
“There is no greater thing you can do with your life than follow your passions, in any way that serves you and the world.” qatar today > july 2013 > 75
development> entrepreneur exchange related products. Using his knowledge of the specific market, Kuntawala created a dedicated giftware company called DVK Giftware in 2000, which supplied major retail stores like T.K. Maxx and Tesco. Six years later, he consolidated his business interests, merging Kaysons and DVK Giftware to create the DVK Group.
“Every entrepreneur and business faces challenges. The key is to focus on the initial vision that you had, and then create the steps to get there and achieve your vision. 2013 is full of opportunities; it’s all about what one makes of them.” 76 > qatar today > july 2013
The right time Going it alone was a bold and brazen decision by the young banker, but he leveraged all he had to make the right judgment call. Co-CEO of SAP Bill McDermott told Qatar Today in December that there are many reasons why businesses fail early on: “The timing is wrong; finances dry up; a lack of expertise; the wrong market.” Statistics show that entrepreneurs often choose the markets in which businesses are most likely to go under; they fail to take the actions that research shows help businesses to survive. Academic research shows that putting in place careful financial controls, emphasising marketing plans and writing a business plan increase the odds that a new business will survive, yet many founders fail on all three counts. However, Kuntawala felt he was prepared: “I was thorough in my research and studied the market conditions carefully to see where DVK could fit in, and which niche we could fill,” he says. “I also relied on and utilised my expertise from my career in banking to raise the capital that I needed. My funds were raised from a combination of my savings and loans from family and friends.” Today, the business focuses on private equity and commodities trading. At present it has 11 offices and 72 people involved with the business, and its future plan is to continue developing in the trade finance business. DVK offers finance to small and medium businesses and corporates to support their international expansion, as well as supplying imported goods to major retail stores. “Our success," says Kuntawala, "can be attributed to the vision statement that we created, which sets out clearly, and in detail, our vision for the business. We formulate KPIs (Key Performance Indicators) and we meet these benchmarks. I have also studied business development and management, and this has helped me to better understand the workings of a business, and how to motivate, inspire and reward employees. “The brand is successful because we
adapt to market forces. We have seen change continuously throughout our businesses, but this is essential to keep up with the changing trends. Being in business, there are always many challenges to face. But I have always been a person who listens to his gut instinct,” he adds. Another big entrepreneur, Muhammed Mekki, has said that the most important early lesson he learned was to incorporate a working culture in his team: pick the right people, empower them and facilitate their ingenuity. “I was lucky in that I knew people with the capabilities, experience and knowhow – people I could trust with my business needs,” says Kuntawala. “We have also recruited externally. Getting the right resources is always difficult. However, we had a solid vision statement in place, which helped a lot. We invest in people with education and the right training in order to develop their full potential.” Recognising a gap Recognised for growing DVK into an international brand, Kuntawala was named Global Entrepreneur of the Year at The Indus Entrepreneur (TiE) Awards earlier this year. As an acclaimed entrepreneur, he claims he always has his finger on the pulse and isn’t afraid to diversify if the market conditions and trends tickle his gut. One of his latest ventures is indeed a fascinating one. “I found [a women-only Sharia fund] to be an untapped market and one that has massive potential. It will be very specialist, and will offer a niche and discreet service. We are planning its launch [for late May], but we need to get the marketing for it absolutely correct. There are also various compliance formalities that we need to meet before we can establish the fund.” Indeed, in May’s Qatar Today Senior Financial Consultant at Guardian Wealth Management Claudine Gillard said she had seen first-hand the lack of thought that often goes into the area of financial services for women, which is why they themselves were launching a “bespoke service” in Qatar. “A female-focused financial advice service not only responds to women's different priorities, but serves to promote a better understanding of the financial services landscape that appeals to professional women and full-time mothers alike,” she said
development > tech talk
Tech on the highway
How technology can make our roads – and us – safer
As anyone living in Qatar knows, driving in Doha in particular can be a source of considerable stress from sudden unexpected roadworks to equally sudden unexpected manoeuvres by other drivers. The result is that it feels like you’re playing some sort of “road roulette” whenever you get behind the wheel. And it’s a trend that is only getting worse. By Damian Radcliffe
L
ast year it was reported that the number of traffic accidents in had Qatar jumped by 160% between 2000 and 2010. At the same time, the Qatar Statistics Authority reported that there were over 5,000 traffic accidents in Qatar during 2011. This trend is even more pronounced over the border in Saudi Arabia. At current rates it is estimated that KSA may have four million traffic accidents a year by 2030. Outside the GCC, the UN reports that globally 1.3 million people die and between 20 and 30 million others are injured every year as a result of traffic accidents. The impact of this is considerable. According to the academic Dr Khalid Al Seghayer, “accidents [in Saudi Arabia] result in 19.1 deaths a day, and the country spends about QR910 million ($250 million) annually to treat injured drivers”. Beyond that he also noted that “each year about QR22 billion ($6 billion) is spent on matters related to car accidents” - a figure akin to 4% of KSA’s national income. With the number of cars on the road growing, especially in emerging economies, and accident numbers also growing exponentially, what role can technology play in addressing some of these issues? The GSMA, the trade organisation that represents the mobile phone industry,
being deployed to improve road safety and traffic flow.
Auto-reply Message
I am currently driving and can't take your call; I will call you once i reach my destination (Auto Reply Sent from Salamtek)
Accept
Cancel
recently predicted that all new cars will be equipped with mobile technology as standard by 2025. Connected cars, they predict, will improve safety, traffic information and navigation. Many of the areas of growth anticipated by the GSMA can already be seen today, with mobile applications already
Removing digital distractions One new innovation recently launched in the region is “Salamtek” (meaning "Your Safety"), a free Android app that allows drivers to block “distractions” from smart phones like phone calls, messages and alerts when you drive above a certain (driver-designated) speed. The application was designed by the Qatar Mobility Innovations Centre (QMIC). According to Dr Adnan Abu-Dayya, Executive Director of QMIC, this is the first anti-distraction mobile application made in the Arabian Gulf region. QMIC will be launching more road safety-orientated apps in the near future. One of the reasons that anti-distraction apps like “Salamtek” or AT&T DriveMode – a free auto-reply service for AT&T customers that notifies the senders of incoming texts or calls that you’re on the road and will get back to them – have been created is that many drivers don’t think there is an issue with driving whilst using their phones. In one recent survey 55% of young drivers claimed they can safely text whilst driving. Yet research from the US suggests that in 2011 at least 23% of all auto collisions (1.3 million of them) involved cell phones, with 13% of drivers aged 18-20 who were involved in crashes admitting to the fact that qatar today > july 2013 > 77
development > tech talk eCall: How it works
Emergency call centre Positioning Via satellite positioning and mobile telephone caller location, the accurate position of the accident scene is fixed and then transmitted by the eCall to the nearest emergency call centre. More information is given in the eCall, e.g. the direction of travel and the vehicle type.
The eCall's urgency is recognised, and the accident's location can be seen on a screen. A trained operator tries to talk with the vehicle's occupants to get more information. If there is no reaction, emergency services are sent off without delay.
Emergency Call A 112 emergency call (eCall) is made automatically by the car as soon as on-board sensors (e.g. the airbag sensors) register a serious accident. By pushing a dedicated button in the car, any car occupant can also make an eCall manually.
Quicker help Thanks to the automatic notification of the crash site, the emergency services (e.g. ambulance, fire fighters, police) arrive there much more quickly. Time saved translates into lives saved.
QSA:
5,000
traffic accidents in Qatar during 2011 KSA may have
4 million
traffic accidents a year by 2030 78 > qatar today > july 2013
they were using their phones at the time of the crash. “Anti-distraction” technology therefore offers a potential solution to the inability of some motorists to resist the allure of their phones whilst driving. A technology-led solution removes the possibility of digital temptation and should, hopefully, help to make our roads a little safer. Managing traffic flow: Harnessing citizen- produced data Safety aside, new apps are also improving traffic flow. SatNavs have, in some cases, offered to reroute you depending on delays further along your route. I used one in LA in 2006 and it saved me hours of traffic jams every day. Earlier this year Roadtraffic-technology. com reported that in 2010 alone, US drivers wasted 3.9 billion gallons of fuel sitting idle in traffic, and that traffic jams are estimated to cost the US economy more than QR565 billion ($155 billion) annually. Closer to home, Google’s live traffic updates, which overlay traffic movements onto Google Maps, launched in Kuwait City and
Jeddah in 2012 and Doha earlier this year. These maps have been in place for many US cities for some years, with data typically captured by thousands of small sensors based along popular routes. In the past year information from Android users has been added into this mix, via users who have opted in to the My Location feature on Google Maps. As Mashable notes: “Google would be able to tell, for instance, if there were several Android owners moving slowly on the freeway and determine that there was traffic slowing them down. The more people opting into the service in the area, the better the traffic information available will be.” Google’s interest in this space was reaffirmed with its recent $1.1 billion purchase of the Israel-based social mapping service Waze, a community of “[50m] traffic-obsessed drivers”, which the search giant notes “is working together to find the best routes from home to work, every day”. Other car- and traffic-based apps can help with remote unlocking (I’ve used an iPhone app to open a rental car in London), promoting carpooling (Egypt’s Wasselni) or using location data, as in the case of Beliaa (another
Traffic Accidents Casualties
Egypt-based app), to help drivers locate road assistance centres or to send maintenance requests to authorised workshops.
5500 5000 4500 4000 2008
2009
20I0
STATISTICS
I,I22
Qataris were injured in traffic accidents.
20II
4.3%
in 2011 Fatal casualties constituted
356
57%
Civil Defence Department operations
of Total rescue operations were related to road accidents.
driving while texting: LOL to ttyl
23%
In 2011, at least 23% of auto collisions involved cell phones.
...that's 1.3 million crashes
5
seconds
The minimum amount of time your attention is taken away from the road when you're texting and driving
If you're travelling at 88kph, this equals driving the length of a football field without looking at the road
"but adults do it, too!"
48%
of young drivers have seen their parents drive while talking on a cell phone
48% of kids aged 12-17 have been in a car while the driver was texting
I5%
of young drivers have seen their parents text while driving
27%
of adults have sent or received text messages while driving
The future is automated The use of location-based data, manifest in a number of these services, will become increasingly important for two-way transmission of real-time information, much of it automated. This can be especially useful in the event of an accident, where emergency services can be contacted automatically. This month the European Union mandated that from October 2015 all new models of passenger cars and light duty vehicles must be fitted with the “eCall” system. In the event of a crash this system automatically communicates the vehicle’s location to the emergency services, even if the driver is unconscious or unable to make a phone call. It is estimated that it could save up to 2,500 lives a year and that eCall cuts emergency services' response time by 50% in the countryside and 60% in built-up areas. Self-drive cars and vehicles that use video cameras, radar sensors and a laser range finder to “see” other traffic might sound like something out of science fiction. Yet last year Google claimed that its self-driving cars had already clocked up 300,000 miles without having any accidents. Ford has also announced that it envisions a self-driving car by 2017 using current-generation technologies, whilst Bloomberg reports that GM is “testing a Cadillac with 'Super Cruise' technology that automates steering, braking and lane centring while driving on a highway in good conditions”. New research by the McKinsey Global Institute has suggested that the potential economic impact of vehicles that operate autonomously or semi-autonomously is in the region of QR0.7 trillion-QR6.9 trillion ($0.2 trillion-$1.9 trillion), with 30,000-150,000 lives potentially being saved. What happens next? Given these developments it’s no wonder that Forbes recently ran a feature with the catchy headline: “Silicon Valley vs Detroit: The Battle For The Car Of The Future”. Of course, “a car is not a smartphone on wheels,” as Gartner’s Thilo Koslowski recently put it. But as we move closer to the “Internet of Things” – a world of machine-to-machine connectivity – devices will be talking to each other as never before. The impact of this new level of communication and data-sharing will impact all areas of our lives including work, home and the roads and transport routes that shuttle us between them qatar today > july 2013 > 79
development > tech talk
Apple unveils iOS 7 Christmas came early for Apple-lovers when CEO Tim Cook gave the world its first glimpse of iOS 7.
I
ntroducing change is always risky, especially when you have to answer to over 600 million users across the world, but Apple has gone all out this time. Though this brand new operating system might not change too much behind the scenes for your iPhone/iPod, the design changes are striking and will shakes things up a bit. While Apple is proud of having traded in their bold and primary colour scheme for “an elegant colour palette”, fans are already put off by the sick green (yeah, YOU know what we are talking about). Icons have been redesigned, the typography is
Google’s Project Loon
entirely new and the home screen looks a lot less static. Android lovers are crying foul at a lot ‘copycat’ features, most importantly Control Centre. This feature, particularly, has been a constant request from Apple users over the years and the manufacturer finally seems to have woken up and smelled the coffee. Other interesting new additions include full multi-tasking for apps, iTunes Radio, auto updates, new and enhanced Siri and Safari, Air Drop, and more. Currently the beta version in available for developers and the update is expected to be made available to users by fall.
A high altitude balloon sails over Southern New Zealand after its launch, bringing this floating internet network to remote parts of the country.
Saudi to block Whatsapp Saudi’s telecom regulatory authority might bring the axe down on Whatsapp as early as before Ramadan. After putting the lid on Viber’s operations in the country, the Communications and Information Technology Commission has said it would ban Whatsapp in Saudi Arabia before Ramadan. Saudi’s massive expat population’s shift from traditional calls and texts to new-age communication tools like Skype, Viber, Whatsapp etc is devastating for the country’s telecom operators and this move is seen as an attempt to protect their interests. The CITC had said earlier that these internet tools were breaking local laws, but failed to elaborate, also saying that unless Whatsapp agreed to “co-operate and comply with Saudi telecom providers” they are in for some rough weather.
80 > qatar today > july 2013
Mayer’s Promise
“Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business.” Marissa Mayer, CEO, Yahoo
Qatar rolls out fibre network at the speed of light Qatar has adapted fibre optic technology faster than any other country in the world.
I
n an independent survey conducted by the management consultancy firm, Arthur D Little, Qatar’s rapid deployment of fibre technology has been shown to have outpaced severally highly developed nations’, including neighbour UAE. Dr.Karim Taga, from ADL, pointed out that in just two years since initiating the plans
“Tweet”
officially an English word
Editors of the Oxford Dictionary included both the noun and verb forms of the word ‘tweet’ in their 2013 edition. This addition bends an important rule for addition of new words - that it should have been current for at least ten years before it can be included. But considering the microblogging site’s runaway popularity, guess they decided they couldn’t have to wait that long.
to deploy a fibre optic network, Qatar has overtaken countries like Japan and Singapore, who started planning for this almost a decade ago. The “Leading Fibre Nation” has enjoyed one of the fastest nationwide fibre roll-outs in the world since the start of deployment in 2011, as judged by the average percentage of homes passed by fibre (33.3 percent of the total) and the number of homes connected (6.3 percent) per year. Ooredoo deployed majority of the fibre and in parallel with the government-initiated QNBN and both now have an interworking agreement. Ooredoo’s COO Waleed Al Sayed stated that the network has been passed to over 191,000 homes in Qatar and 56,000 of them are now connected to the network which is capable of handling speeds of 1GBps (although Ooredoo currently provides speeds ranging from 1-100 MBps).
A month for acquisitions The tech world was sent into a tizzy with back-to-back billion dollars acquisitions by giants Yahoo and Google.
J
ust when the debate about the wisdom of Yahoo’s purchase of microblogging site Tumblr was dying down and Google gave Tech gurus something else to chat about - its acquisition of the social traffic app Waze. Many believe that Yahoo’s move is a bold gamble - While Tumblr would induce much needed vigour with its youthful audience, the cash-strapped, ailing internet giant has a history of acquisitions amounting to nothing (remember, Geocities and Broadcast.com?). After the all-cash purchase in $1.1 billion, Yahoo released a rather sad statement saying that they promise not to wreck things with Tumblr and let the site continue operating independently. They-who-could-dono-wrong, Google is also allowing Waze to carry on business as usual though it is expected to integrate some of its features with Google Maps. It is speculated that the deal, which is supposed to have gone down for upwards of $1 billion, was made even though Google didn’t have much use for Waze - it just wanted to keep the company out of the hands of Apple, Microsoft and Facebook (the latter was actively interested in buying the app). qatar today > july 2013 > 81
culture > wellness warriors
A man on a mission!
Driving positive change requires a lot of energy, so how does Salman Shaban, commercial manager and third-generation business owner of Lucky Group (a metal recycling company in Qatar), maintain his high level of performance? Nicole Van Hattem
82 > qatar today > july 2013
What health or lifestyle changes have you made in the past two years? I have made several conscious changes regarding my diet in the past year. These include basic tenets such as choosing to eat real foods over eating junk food, focusing on a more organic and vegetarian diet, eating more fruit, and increasingly replacing soft drinks with choices like sparkling water and fresh juices. I have taken it a few steps further by replacing gluten and wheatbased breads with rye or millet breads for breakfast, increasing the good omegas and nutrients in my diet through fish and flax seed oils, choosing the right daily multivitamins, and drinking aloe vera juice daily in the morning on an empty stomach for the regulation of my body’s systems. Until last year I used to get pampered with massages as a way to celebrate major occasions like my birthday, vacations or the end of a long hectic business trip, but now I make it a point to invest in a bi-monthly massage appointment in my calendar without fail. I am a slacker at maintaining regular gym workout schedules or exercise routines. Therefore I have tried to integrate body movements with fun sports and activities such as weekly table tennis games in my villa compound or monthly bowling tournaments with friends or colleagues. This way I not only get some movement into my routine but I also get to socialise with my friends, neighbours and colleagues. Why? What triggered you to make these changes? On a personal level, I noticed that my energy levels were steadily depleting, I was gaining weight in Qatar and my skin was suffering from the stress of fatty foods and a reckless diet. I was also becoming aware that increasingly more people within my circle were becoming victims to diabetes, heart disease, obesity, high cholesterol and such. Also, given my family’s health history, I did not want to be the next unfortunate case. My first step was to start attending health workshops to build my knowledge about health. How have these strong positive choices affected your body and mind? Well, my body weight has now stabilised back to my "pre-Qatar" weight. I cherish feeling healthy and good about myself. I’ve become much more focused on my objectives and priorities. Building a company and expanding a business can create a lot of
What do you eat (on most days) for
stress. Have you noticed positive changes in the way you handle stress in your life now that you have a strong, healthy foundation? Most definitely! I can feel the burst of good moods in me and an overall positive outlook to the daily routine otherwise. It takes a lot more to make me break a sweat now! Especially since my increased energy levels allow me to be more efficient and productive in what I do. How does your spiritual practice support your health and well-being? It instils in me a sense of gratitude and happiness with what I have, encourages acts of charity, kindness and bonding with the people around me, and reaffirms my sense of wellness in every way. Relationships are a key part of health and well-being. If these are not being nourished, then it can affect other areas of our lives and health. How do you maintain good relationships with those around you? With my colleagues, I wholeheartedly give and receive help, share experiences, support their careers, participate in regular team-building exercises and maintain a personal rapport offduty. By investing in short but proper periods of quality time, using mealtimes to engage in dialogue, and sharing new, educational and wonderful experiences together, I keep the relationship strong with my family. Friends are so important to my balance, and I’ve developed a strong network of selected friends, making regular time to hang out, travel, and otherwise make use of social networking to keep in touch. Do you consider that you have a good work-life balance? It’s not perfect, but I’m definitely more balanced than I was a year ago as an intense workaholic. I am still considered a workaholic, but with boundaries. I am getting better at prioritising my health, family time and, most importantly, “me” time over laptop hours as soon as I reach home and extending late into the night. I have learned to delegate smart, know when to say “no”, and try to stick to limited working hours. Are there any health and wellness campaigns at your workplace (or previous workplaces you have been in)? We help promote health-related activities,
Breakfast 1/2 litre of water when I get up and get ready for work 1/2 glass of aloe vera juice 2 slices of rye/millet bread with hazelnut spread and organic honey Mug of tea Lunch and Dinner Simple salad Standard rice/pasta meals with mostly vegetarian sauces/curries Snacks Dried fruits Freshly cut fruits Finger salads
primarily sports, within the company staff, such as swimming, cricket and bowling. It not only encourages the need to remain active, both in mind and body, but also helps in bonding and building the team spirit. As a professional and a male role model, setting an example for others to follow, what would you say are your top 10 tips for:
Managing stress 1. 2. 3. 4. 5. 6. 7. 8.
Learn to say “No” Don’t sweat the small stuff Don’t aim to be perfect Learn to be optimistic Maintain a spiritual practice Keep good friends Allocate “me” time Spend time on your hobbies and passions 9. Find the right stress outlet for you (swimming, jogging, meditation, etc.) 10. Travel
Maintaining professional performance 1. 2. 3. 4. 5. 6.
Love what you do Respect as you want to be respected Delegate smartly Use electronic media efficiently Learn to put things in perspective Eat light, simple snacks and lunches to avoid shutting down your brain 7. Train the trainee 8. Encourage team-building exercises 9. Maintain open channels of dialogue 10. Develop trust in your employees and vice versa qatar today > july 2013 > 83
business>auto news
The new and improved Crosstour
T
he new 2013 edition of Honda Crosstour comes with “rugged new styling, teamed with class-leading fuel-efficiency,” boasts Greig Roffey, Head of Sales and Marketing for Domasco’s Honda division. In addition to significant upgrades to the interior design and materials and a more powerful V-6 engine, this version comes equipped with the standard Crosstour features, namely rearview camera, ODMD touch screen panel, Bluetooth HandsFreeLink, sunroof, one-touch turn signals and more. It also comes in two new exterior colours – Kona Coffee Metallic and Mountain Air Metallic.
Honda Crosstour's new model comes with significant upgrades that'll wow the technophile in you.
The 2013 Crosstour is one of the first Honda models available with the new keyless Smart Entry System with Push Button Start. It is also equipped with the latest feature; Honda's LaneWatch blind-spot display, which uses a camera system mounted on the passenger mirror to provide an enhanced rearward view of the passenger-side roadway. According to Roffey, “the 2013 Crosstour is exactly what the discerning automobile consumers of Qatar are looking for. The vehicle ticks all the boxes for those who need the slickness of a city car and the ruggedness of the off-road vehicle.”
Escape into the unknown BMW's best-selling travel enduro is all set to take you across Qatar's less travelled routes.
A
dventure junkies and road warriors, stand by for one of the world’s best travel enduros to hit Doha’s showrooms in recent years – the new BMW R 1200 GS. Alfardan Motorcycles, the official importer of BMW Motorrad in Qatar, is bringing the nine-year-old bike, which has already sold over 170,000 units worldwide, to the country. Commenting on its arrival, Mohamed Kandeel, General Manager, Alfardan Motorcycles, said: “It is the unique integrated concept of the big travel enduro bike with boxer engine, complete with authentic charm and a powerful, high-torque engine, which is loved by legions of motorcycle customers and fans
84 > qatar today > july 2013
in Qatar.” The newly-designed 1170 cc engine provides top-level riding dynamics within the travel enduro segment. The six-speed gearbox is integrated in the engine housing, including wet clutch with anti-hopping function and reduced lever operation force and E-gas for improved ridability and running smoothness. The electronically-controlled exhaust flap, selectable riding modes (Rain, Road, Dynamic, Enduro and Enduro Pro), Automatic Stability Control and ABS for off-road riding are some of the special features of this bike, which comes in four main paint finishes – Alpine White, Racing Red, Blue Fire and Thunder Grey Metallic.
Nissan "Top Riser" Among Green Brands
Nissan has been recognised by Interbrand for its commitment to green technology.
I
n Interbrand's recently-announced annual Best Global Green Brands report, automotive brands took four of the top five positions, with Nissan climbing almost 16 positions from last year to reached fifth position, earning it the “top riser” title from the brand consultant. Nissan’s rapid improvement on last year's 21st place was credited to its Leaf 100% electric vehicle’s positive effect on perceptions of the brand, with over 65,000 Nissan Leafs sold as of May 2013. An array of eco-friendly actions such as plans to cut vehicle weight by 15 percent starting in 2017, and Nissan’s collaboration with Daimler and Ford for the development of fuel-cell cars to be launched by 2017, have also contributed to this rise.
Are you ready to get sporty? The All-New Range Rover Sports will take Qatar by storm with its rugged exteriors and wide customisation options, importers say.
O
nly recently unveiled at the New York Motor Show, the All-New Range Rover Sport has made its way to Qatar. Land Rover and Alfardan Premier Motors Co. marked the official launch of the vehicle with an exclusive event at the St Regis Doha Hotel. Touted as “the ultimate premium sports SUV and the fastest, most agile and most responsive vehicle ever produced by Land Rover”, this new, modern interpretation of the Range Rover Sport completes the three-model
Range Rover portfolio. Speaking about the launch, Rob Preston, Aftersales Director for Jaguar Land Rover MENA, said: “The All-New Range Rover Sport is a vehicle that has been designed and engineered without compromise... and has garnered a huge amount of attention from customers across the globe since its unveiling just a few short months ago. I‘ve no doubt there is just as much anticipation amongst customers here in Qatar.” The new, technology-packed Range
Rover Sport presents customers with adaptive dynamics, digital camera system, lane departure warning, traffic sign recognition and Automatic High Beam Assist in addition to a more assertive and muscular exterior and the option of occasional 5+2 seating. To maximise personalisation, customers will be offered a choice of wheel designs ranging through 19, 20, 21 and 22 inches in diameter, including the iconic “Viper's Nest” wheel design, along with an extensive choice of colours, finishes and details. qatar today > july 2013 > 85
business > auto news
The Wraith captivates Doha Rolls-Royce admits that nothing like the Wraith has ever been produced before.
D
espite yourself, chills run down your spine when you enter the darkened ballroom at St Regis Doha where the covered silhouette of the Wraith stands, only adding to the delicious spookiness of the atmosphere. The Rolls Royce Wraith, which was unveiled last month in Geneva, is now on a tour of the Middle East, seducing potential customers before it eventually hits showrooms in November with a price tag of around QR1.5 million. A heady mix of masculine energy, elegance and edgy design, the Wraith is the ultimate statement of “power, style and drama”, according to Ayman Ghanem, Regional Sales Manager at Rolls-Royce Motor Cars Middle East. “It is designed to look like it’s always
in motion,” he says. Equipped with the most powerful engine yet in any Rolls-Royce, the model comes with softest “Phantom-grade leathers” and expanses of wood called Canadel Panelling. “The hand-built woodwork is an industry first and extremely hard to make. Another interesting feature is the satellite-aided transmission that knows the curves ahead and adjusts gears accordingly,” he adds. 1,340 fibre optic lamps are hand-woven into the roof lining to give the impression of a glittering, starry night sky. Voice activation commands come with a one-touch call button located on the steering wheel. A destination no longer requires manual input from a navigation menu and route assistance begins immediately,
on-screen and via audio guidance following a voice command such as “navigate to The Pearl - Qatar”. “The region has been asking for something like this for a while now,” says Mohammed Kandeel, General Manager of Rolls-Royce Motor Cars Doha, “and the tour car has generated a lot of interest with this year's allocation for Doha already sold. We are now taking orders for 2014 production.”
Qatar Holding Sells stake in Porsche
The Porsche-Piech family bought back Qatar Holding’s 10 percent voting stake in the luxury car brand last month, though the value of the deal has not been disclosed.
Q
atar Holding, the investment arm of the Gulf state’s sovereign wealth fund, made a statement in this regard saying it remained to its 17 percent stake in Volkswagen Group (of which Porsche is a part), where it is the third-largest shareholder.
86 > qatar today > july 2013
File Photo from Porche's annual general meeting in 2010
business>marketwatch Under the patronage of HE Sheikh Jassim bin Abdulaziz Al Thani, Minister of Business and Trade, the fourth annual Qatar International Business Women Forum (QIBWF) will be held on November 11 and 12 at the St Regis Doha Hotel.
Qatar’s women in business to be honoured
T
he forum is organised by the Qatari Business Women Association and Interactive Business Network (IBN), and promises to be an even bigger and more eagerly anticipated event at both the Arab and international levels after the overwhelming success of its third annual session in 2012. QIBWF will coincide with the Qatar Business Women Award ceremony, which will take place on November 11. The Qatar
Business Women Award was initiated by the Qatar Business Women Association and is managed by IBN. The award aims at recognising and celebrating the contribution of business and professional women in Qatar while inspiring future generations of women to achieve their full potential and maximise their contribution to the economy of Qatar. The fourth QIBWF will host HE Dr Mohammed Saleh Al Sada, Minister of
Industry and Energy, as a keynote speaker during the opening session. HE Dr Al Sada is a major supporter of the role of women in Qatar. He will present interesting facts and figures about the current situation of women, and the scale of support they receive in the country. During the two days of the forum, international speakers will discuss several topics on the area of women's empowerment and entrepreneurship.
Grooming aid
French brand L’Occitane’s exclusive men’s shaving range is now available in Qatar.
F
ollowing age-old traditions of Provence, the L’Occitane Cade collection has been specifically designed to provide expert skincare dedicated to men’s skin, which has to cope not only with harsh environmental elements every day, but also and above all with burning sensations caused by shaving. The new rich shaving cream is enriched with purifying cade wood organic essential oil and hydrating vegetable-based glycerin, which turns into a generous lather leaving the skin soft, hydrated and smooth. The brand has partnered with Plisson to sell their shaving accessories for a limited period in L’Occitane boutiques for men who want to enjoy a sophisticated shaving experience. qatar today > july 2013 > 87
business > market watch In time for Eid our selection of watches for the season
Noted watchmaker Baume & Mercier has introduced the Clifton Complete Calendar Moon Phase, part of the newly-launched Clifton collection. It displays the moon phases contained within a large aperture located at 6 o’clock. The polished satinfinished steel case has a diameter of 43 mm, with the dial available in two options, silver or blue. It is powered by a Swiss-made mechanical self-winding calibre visible through the sapphire crystal case back.
Those who like to keep things uncomplicated will love this diamond-cased (or without) Piaget watch with silver-toned dial and pink gold Arabic numeral markers. The dial remains uncrowded, with self-winding mechanical hour, minute, seconds and date indicated and a pink gold-toned oscillating weight with a brown alligator leather strap.
Watchmaker A. Lange & Söhne takes you back in history to when the lunar cycle was an important time-keeping reference, with a watch that creates a moon-phase display that needs a mere one-day correction every 122.6 years. With 631 individual parts, the 1815 Rattrapante Perpetual Calendar comes with Arabic numerals, a railway-track minute scale, gold and blue hands and four round subsidiary dials.
Richard Mille's new store in Kuala Lumpur A new Richard Mille boutique was inaugurated in Kuala Lumpur’s luxurious Mall, following in the footsteps of the boutique Grand Hyatt Singapore. The inaugural evening began with the traditional ribboncutting by Richard Mille, Dave Tan, CEO of Richard Mille Asia, and actress Michelle Yeoh. This is the second store to adopt the new RM showroom concept, where brighter colours and subtle lighting are used to enhance each element. “Just as my watches are efficient and uncompromising, no details have been spared in the architecture and purveying of the new Richard Mille boutique experience,” explains Richard Mille. Two hundred guests were then invited to admire, at their leisure, a selection of watches presented to the public for the very first time, including the RM 022 All Gray Carbon (a limited edition of five pieces, only available in Asia) and the RM 030 Black Carbon (a limited edition of 50 pieces created only for the boutiques in Singapore and Malaysia), not forgetting the RM 11-01 Roberto Mancini and the RM 3901 Aviation. Finally, music took centre stage at the “Richard Mille Jazz Supper Club” night, featuring Yannick Bovy, a hugely talented new Belgian singer and DJ Patricia K. 88 > qatar today > july 2013
The new Linea Automatic for women from Baume & Mercier has a Swiss mechanical calibre automatically wound by the movements of its owner. The new watch features a time display including a directdrive centre second hand and a discreet date window at 6 o’clock in the mother-ofpearl dial set with 11 stunning diamonds. The interchangeable bracelet is available in steel or two-tone (steel and red gold).
Canon launches its latest products
What does a consumer product manufacturing company, or “a leader in imaging solutions", as Canon prefers to call itself, do when it wants to get focus on its new range of products? Call press meets to take journalists through a PPT to explain the products is the routine answer.
Journalists from the Arab region celebrate a day with Canon products
B
ut Canon Middle East did not take this tried and tested route. Instead took the journalists on a journey of imagery and adventure, making the products and the brand create a special impression on the journalists; an impression that lasted longer. Canon Middle East announced the launch of its exciting Spring collection of
consumer products in the region through an exciting programme letting journalists experience all the latest Canon products from cameras, camcorders to home printers by taking them through various activities including a photography workshop, horse riding, archery and clay shooting sessions at the beautiful Jebel Ali Palm Tree Court Hotel, Dubai. The comprehensive collection included flagship devices such qatar today > july 2013 > 89
business > market watch
Salam launches EOS100D in Qatar Salam Stores and Canon in Qatar launched the new addition to Canon’s entry-level consumer DSLR line-up – the EOS 100D. The high profile event took place in the Renaissance Hotel in Doha’s West Bay, and offered guests the chance to view the new products first-hand, with a presentation from Canon spokesperson, Mahboub Ali, Regional Manager – Photo Imaging at Salam Stores. The smallest and lightest APS-C DSLR ever made, the EOS 100D offers a range of simple controls and a helpful in-camera feature guide, perfect for those looking to explore the world of DSLR photography for the first time. The new EF-S 18-55mm f/3.5-5.6 IS STM is the ideal standard zoom lens for the new EOS camera, combining Canon’s leading Optical Image Stabilizer and Stepping Motor (STM) technologies to deliver minimal image blur and smooth, near-silent focus in movies. Salam Stores has enjoyed a successful business partnership with Canon in Qatar for more than 50 years. 90 > qatar today > july 2013
as the EOS 6D, PowerShot N, Legria HFR 48 and Pixma MG6340 within DSLR, DSC, DVC and Inkjet categories. The Middle East Spring launch event, hosted under the theme of "Power to your next step", reflected the company’s commitment to becoming a lifetime imaging partner, coupled with the goal of empowering, educating and inspiring consumers to take the "next step" in the creative journey of capturing, sharing and printing life’s moments. “We’ve researched what users want from photography – how they use our products, what they’re doing and what they’d like more of – and have found one common theme: no matter what level of skill they are at, everyone aspires to be a better photographer,” said Hendrik Verbrugghe, Marketing Director, Canon Middle East, addressing the media before the fun event. “With the launch of over 11 products within the Spring collection, we want to make that ‘next step’ achievable and show that Canon has a product suitable for every step, whether you’re a beginner or a professional. The new range is designed to help users to take their ‘next step’ in photography, videography and printing, by enjoying the cross-product benefit of connected cameras, camcorders and printers enabling them to share images quickly and easily,” he added. Photographs can be shared with a click of
a button, and when paired with the efficient printer, you can take instant prints of the moments making the experience more real. Shoot and print Canon Middle East unveiled two new entry-level cameras in the consumer DSLR line-up – the EOS 700D and EOS 100D. Complemented by the introduction of a new standard zoom lens, the EF-S 1855mm f/3.5-5.6 IS STM, both new models offer 18 Megapixel (MP) resolution with simple touch screen operation, making it easy to capture and relive every moment. The smallest and lightest APS-C DSLR ever made, the EOS 100D offers a range of simple controls and a helpful in-camera feature guide, perfect for those looking to explore the world of DSLR photography for the first time. On the range of printer, Canon had on offer different models, a refresh of its PIXMA MX printer range with the launch of four new all-in-one devices. The PIXMA MX394, MX454, MX524 and MX924 to replace their older versions. Offering high-productivity and sophisticated software for home office environments, the new printers feature print, copy, scan, fax and ADF functionality. These models also feature a large colour display which provides direct access to cloud services, while the ‘Dual Function Panel’ makes it easy to print, copy, scan and fax directly from the printer
focus > sports file FOOTBALL
Qatar limps out of World Cup qualification
It was a very disappointing end to Qatar’s 2014 World Cup qualification bid, as they lost their final two group games – a 1-0 defeat at home to Iran on June 4 and a 5-1 trouncing away to Uzbekistan on June 18.
T
heir hopes of qualification were pretty dim after a last-minute goal in South Korea in March, but had they beaten Iran, they would have had a good shot at a play-off spot. As it turns out, South Korea and Iran have gained automatic qualification from Group A, while Australia and Japan have secured their place in Brazil next June from Group B. Uzbekistan will face Jordan in a two-legged play-off to see who goes forward to compete in the inter-continental play-off. Qatar would have been secretly happy with their start to the group – they secured an away win against Lebanon and an away draw against Iran – but they seemed to lose all confidence after a 1-0 home defeat to Uzbekistan, which put them under pressure. A home win against Lebanon followed, and gave them an outside chance of making the play-off. However, deep into stoppage time in Seoul,
South Korea scored a winner which meant Qatar would probably need six points from their last two games to earn a play-off spot. However, it wasn’t to be. Iran beat Qatar 1-0 in Doha to finally eliminate Al Annabi from the 2014 World Cup. Qatar coach Fahad Thani lamented the fact that his side couldn’t convert its early chances against Iran, and said the team struggled in the second half without its top scorer Sebastian Soria, who was suspended. “It was a tight game and we faced a well-organised team, a very strong team,” Thani said. “We tried to control the game, and we did in the first half. But we weren’t successful in scoring goals.” Thani also contended that Qatar should have had a penalty in stoppage time when captain Bilal Mohammed collided with an Iran player in the area. Qatar will have one more World Cup qualification campaign before they host the event in 2022.
AFC 2014 World Cup Qualification fourth round final tables Group A Played
Points
Goal Difference
South Korea
8
16
+6 +6
Iran
8
14
Uzbekistan
8
14
+5
Qatar
8
7
-7
Lebanon
8
6
-8
Played
Points
Goal Difference
Group B
japan
8
17
+11
australia
8
13
+5
jordan
8
10
-9
oman
8
9
-3
iraq
8
5
-4
Qualified for World Cup 2014 Qualified for fifth round of qualifiers
golf Rose finally blooms Justin Rose became the first Englishman to win a Major since Nick Faldo’s famous Sunday duel with Greg Norman at Augusta in 1996. He kept his cool magnificently on the final two holes of the US Open at Merion GC in Pennsylvania last month to win by two strokes over Phil Mickelson and Jason Day. Upon sinking his par putt on the 72nd and final hole, he pointed to the sky, obviously dedicating the win to his father, who passed away in 2002 from leukemia.”I couldn’t help but look up to the heavens and think that my old dad, Ken, had something to do with it.”
qatar today > july 2013 > 91
focus > sports file
NBA The Heat is on! The Miami Heat defended their NBA Championship last month, defeating the San Antonio Spurs 4-3 in a compelling series that could so easily have been won 4-2 by the Texan franchise. With 30 seconds remaining in Game 6 the Heat were five points down, but thanks to a Ray Allen three-point throw, they salvaged the game and won it in overtime to force a deciding Game 7. LeBron James – the series MVP – turned on the afterburners in this one, scoring 37 points, as they won 95-88 and claimed only their third-ever NBA Championship.
Basketball
Basketballers prepare for Championship showdown
The Qatari basketball team have bumped up their training in preparation for the FIBA Asia Basketball Championship to be staged in Manila, Philippines from August 1-11.
T
hey will compete in Group B alongside Hong Kong, Lebanon and Japan. There are four groups of four, where three from each group will qualify for the second round. Jordan is in Group A with Chinese Taipei, Saudi Arabia and the Philippines, while Bahrain is in Group D with Kazakhstan, India and Thailand. China, Korea, Japan and Malaysia make up
92 > qatar today > july 2013
Group C. The Qatari team began their preparation at Al-Gharafa Sports Club before leaving for Lithuania on June 24 for a training camp. After the training camp they will play four friendly matches against Tunisia and Egypt. The Qatari squad comprises Ali Turki, Mohammad Yousef, Bakr Ahmad, Yas-
sin Ismael, Erfan Saeed, Malik Saleem, Mohammad Hassan Abdulmoati, Mohammad Salim, Khalid Sulaiman, Dawood Mousa, Saeed Abdulrahman, Mansour Al-Hadhari and Omer Abdulqader. China has dominated the bi-annual event since its inception in 1975, winning it 15 times. They beat Jordan in the 2011 final in Wuhan, China.
culture>doha diary A sporty endeavour
A Holy Month
Ladies, get fit this Ramadan with a variety of basketball, handball and volleyball tournaments put together just for you by the Aspire Zone Foundation.
D
on’t worry about putting together a team, just register for the games, the organisers say. There has been an overwhelming response to the third annual edition of their Ramadan sports activities, “Hayyakum B' Aspire”, with many of the competitions running from July 14 to 28 already full. Prizes will be awarded to team winners and a variety of giveaways are on offer for all participants. In addition to the sports tournaments, AZF is organising a series of cultural, religious and charity events targeted at the whole family.
A Souq Waqif Ramadan Souq Waqif Boutique Hotels is pulling out all stops this month, providing a combined Iftar buffet at the Moroccan restaurant Argan and Al Sanbook, located in Al Jasra Boutique Hotel. Guests at Al Jasra can enjoy exquisite Ramadan food and beverages and sheesha. The Drawing Room, the Courtyard and the Terrace Lounge will be ushering in Ramadan with a selection of dishes inspired by the tastes reserved for the Holy Month.
QTA steps up its game for Ramadan
Ancient Arabia with a modern twist
Enjoy a vibrant array of legendary dishes like machboos, a lamb and rice tradition, the sweet Umm Ali dessert and more in addition to interactive cooking stations, live Arab music and Tanoura dancer, shisha, and all the favourite Ramadan beverages at the indigenously-inspired Al Areen Ballroom at Renaissance Doha City Centre. Prices: Iftar at QR195 (Sunset to 8:00 P.M.), Sohour at QR235 (9:00 P.M.- 1:30 A.M.)
the best of arabia Chef Majid Al Balushi from Oman and Chef Omer Aydin from Istanbul have been specially flown it to tantalise taste buds with their authentic Arab and Turkish offerings. Grand Hyatt Doha’s Iftar and Sohour buffet will include mezze, a rich variety of main courses like roasted lamb leg, ouzzi, samaka harra, a lavish selection of desserts including baklava,Sekerpare and the famous Turkish oven-baked rice pudding, Ramadan beverages such as laban, kamar al deen, jellab and tamerhindi, and live stations each week during Ramadan. Prices: QR230 for Iftar buffet and QR200 for Sohour
T
he “Eid Festivals” programme has been announced by the Qatar Tourism Authority (QTA)'s Abdullah Al Badr, Director of Tourism. This year’s festivities will revolve around a family-friendly hub of edutainment activities, world-class shows and exciting international performances taking place throughout Doha and Al Khor. All the malls in Qatar will be part of the festival celebrations, where visitors will be able to enjoy the activities running in these malls while they are out doing their shopping, he announced. The
QTA has extended the celebrations all the way to reach The Pearl, where children can enjoy face painting and magic balloon. The Losail International Circuit and Shooting Range and the Qatar Racing and Equestrian Club will also be open for visitors to enjoy the celebrations. Al Badr said: “What makes this year special is the participation of the private sector, who are organising several activities including kayaking/canoeing, wakeboarding, sailing lessons, parasailing, scuba diving and sky diving.”
A feast for all senses The Ritz-Carlton, Doha brings the mesmerising sounds of exotic music and the traditional Arab atmosphere of the souq to its their Ramadan tent, from where you can take home traditional Arab crafts. Dip into the many Ramadan stations including a kanafa and juice maker from Morocco and saj bread maker while you groove to the rhythms of an Egyptian band. Prices: Iftar at QR195 and Sohour at QR250 (prices include Ramadan juices only) qatar today > july 2013 > 93
culture > doha diary
L’Batak burns calories The high-tech footballthemed touring fan zone has been a big success among students.
T
housands of participants have been sweating it out at the fitness centre on wheels L’Batak, an initiative by the Qatar Football Association and Qatar Shell. The football-themed fitness centre, which was stationed at key locations in Qatar like Al Khor, Al Shamal, Khalifa Stadium and Jassim Bin Hamad Stadium, features a variety of cardio-based games that simulate traditional gym exercises like running, lunges, squats etc., and the calories burned are calculated through an automated, integrated system, the "Score Totem and Master" calorie counter. Augmented reality activities include freestyle kicks, goal scoring and a “Dance Dance Revolution”-style simulation game known as Taffanan that has proved very popular, as it allows
participants to control a player on the screen as he performs tricks with a football. To date, over 8,000 participants have clocked over 200 calories each. Ibrahim Mohamed Al Saeid, a sixth-grade student at Al Khor School, said: “I truly enjoyed the L’Batak high-tech football games. I was working out, moving, running, kicking the ball and I really had an amazing time with my friends. My scoreboard showed that I had burned 213 calories.” L’Batak is part of the "Koora Time" initiative announced by the QFA and Qatar Shell earlier this year, aimed at inspiring behavioural change towards health and fitness through football in line with Qatar’s National Development Strategy and Qatar National Vision 2030.
Voila!
La Varenne serves up a delicious country buffet for its patrons. The contemporary French brasserie La Varenne has introduced a new experience for its diners at weekends – a blend of fine French cuisine with the concept of brunch. Executive Chef Stuart Collins, who trained under Gordon Ramsay and Michael Caines, says: “There is a vibrant brunch culture in Doha, and we believe that our French Country Brunch introduces something new and unique by offering the finest in French cuisine, yet with a relaxed warm atmosphere.” The restaurant has created a new set menu comprising classic and flavourful breakfast and lunch dishes including a selection of French baked items and starters, a feast of rotisserie, an hors d’oeuvres trolley and a variety of French desserts. The menu consists of traditional French dishes such as chicken liver and foie gras parfait, bouillabaisse, steak frites, duck a l’orange and pot-au-feu. 94 > qatar today > july 2013
ROTA celebrates good work Reach Out to Asia honoured members of its Youth Service Clubs for their dedication to making a difference in Qatar’s local communities.
A
t an event hosted at Qatar Foundation’s Recreation Centre, members of ROTA's Youth Service Clubs looked back over the past 10 months spent on a broad range of projects related to sports for development, the environment, Arabic language integration and skills development. Based on a series of informal, extracurricular learning activities to engage, empower and enable secondary school and university students between the ages of 14 and 24, the programme has been supported by grants from Vodafone Qatar. The evening saw members talking about several projects and initiatives like Shrink (a project aiming to address obesi-
ty), Bricks of Hope (a project that involved rebuilding a school for orphans in Somalia), Video for Advocacy, I Care, Youth Without Borders (which raised awareness about the poor conditions of recreational and sports facilities in Gaza and the West Bank), The Changers, Educatement and more. “By helping young people to establish service clubs that serve their communities and address global issues, ROTA provides an informal learning platform that strengthens the voice and capabilities of the youth of Qatar, which in turn will yield a legacy of an active and responsible movement of local global citizens and leaders,” said Mohamed Abdulla Saleh, National Programme Director, ROTA.
Doha reverberates with Stomp
Thank, Stenden
The Event Management students of Stenden University Qatar hosted a Gala Dinner for Stenden staff, expressing their gratitude and appreciation. The event management group, "360 Degrees", raised funds for ROTA through the event, where memorable moments were shared, farewell was extended to those leaving and new staff was welcomed to the Stenden family. Egyptian stand-up comedian Ahmad Kamal kept the guests in splits with his witty banter.
The Stomp troupe swept the audience off their feet with its high-energy performance last month.
T
he Stomp troupe stormed into Doha on June 6, and perhaps it was pure coincidence that a 72-hour dust storm hit the country at the same time. The troupe’s debut shows in Doha were held over three days at the QNCC. With humble beginnings on the streets of Brighton in the UK a few decades ago, Stomp has received worldwide acclaim. Creators Luke Cresswell and Steve McNicholas first worked together in 1981 as members of street bands and theatre groups before producing Stomp. The cast have performed at the Oscars, in 1996, and won four Emmy Award nominations, and the show has been playing on Broadway for 19 years and in London's West End for nine. But what is all the fuss about? Using a variety of everyday percussion instruments in their performances, from brooms to drums and even the kitchen sink, Stomp is a mix of dance choreography, wild percussion and outstanding acrobatics. It uses no words. Its language is rhythm, which is common to all cultures. Both young and old were transfixed by what was happening on the stage. Miguel Blanco-Carrasco, Director of Strategic Cultural
Relations for the Qatar Museums Authority, a partner of the event said: “A product of the UK and a massive global hit bridging the language barrier, Stomp in many ways embodies the spirit of the Qatar-UK 2013
Year of Culture. Off stage it is engaging with students and members of the community in Qatar, and we are proud to help create an environment where these interactions can take place now and in the future.” qatar today > july 2013 > 95
A decade of excellence Seven hundred guests, including some of the most prominent faces in Doha, attended a gala celebrating the College of the North Atlantic-Qatar’s 10-year anniversary.
Dreams on ice The performers at the much-waited "Disney on Ice" show wowed audiences with their elegant and intricate dance moves while bringing some timeless toons to life.
96 > qatar today > july 2013
Marriott’s Crash Course on the Middle East
A contingent of 32 senior executives from over 50 Marriott hotels worldwide, headed by Vladimir Dabbah, Vice-President Global Sales for The Middle East and Africa at Marriott International, participated in a whirlwind tour of the Middle East.
T
his mission is the company’s way of showing our commitment to the GCC, which we see as a region with strong potential for further growth,” said Dabbah when we caught up with him in Doha. The global sales mission showcased the company’s “See the World” campaign, but also, importantly, gave the hoteliers a better understanding of the needs of the GCC traveller. The team was here after visiting Abu Dhabi, Jeddah, Riyadh, Al Khobar and Bahrain en route to Kuwait, where their two-week trip would conclude. “We want these senior managers from other cities like Zurich, Hong Kong, Paris, London, Vienna, Istanbul and more to experience the market here and visit our new properties as well as meet our customers in the GCC. First and foremost, we want them to understand how to serve the GCC traveller better.” With Arab travellers packing their bags
and taking off to various destinations across the world come summer, Dabbah explained how Marriott hotels are making them feel at home wherever they go. “It’s little things like having Arabic speakers greeting our guests, providing special menus prepared by Arab chefs flown in for this purpose, providing prayer mats and helpful signs which point to the right direction,” he said. While their packed itinerary was brimming with visits to corporate houses, government offices, trade shows and cocktail dinners, Dabbah said they made time to drop in at Souq Waqif (“for an authentic Qatari experience”), Katara, The Pearl and more. Invigorated by the response to its newest hotel, the colossal JW Marriott Marquis in Dubai, the company is planning to launch 42 new properties in MENA by 2017, including one in Doha. When asked if winning the World Cup has changed its plans for the country, he maintained that
he couldn't talk about any new projects till they were signed. “For us, it’s about developing the right hotel in the right market with the right owner. Having said that, we are more than aware of Doha’s potential as a conference, sporting and leisure destination and how Qatar Airways’ evolution into a global airline is changing the game,” he said. Dabbah also noted how the GCC is seeing travellers pouring in from emerging economies in South America, the United States and the Far East, in addition to an increase in the number of regional travellers. “This is the golden age of travel, with an increase in both the sheer number of travellers and also the number of trips taken by people. And Marriott, with its wide and diversified portfolio of hotels, is poised to cater to the aspirations and needs of these travellers, whoever they may be and wherever they are from,” he said qatar today > july 2013 > 97
culture > doha diary
Conquering
the Mountain
Within By Ayswarya Murthy
98 > qatar today > july 2013
photography by Elia Saikaly
Sheikh Mohammed bin Abdullah Al Thani, the first Qatari to scale Mount Everest, opens up about the two months he spent in the shadow of the great mountain and the unexpected lessons learnt.
qatar today > july 2013 > 99
culture > doha diary
"Arabs with Altitude"
S
heikh “Moe” Al Thani has chosen to address the country’s media at that atrium within the Qatar Foundation Student Centre where sunlight pours in through the glass ceiling with clouds casting their passing shadows. It is as if the lack of a roof is conscious and deliberate; maybe it seemed improbable to contain the man under one when, barely a few days ago, he proudly hoisted the Qatari flag atop the “Roof of the World”. Or maybe journalists tend to read too much into things. The articulate and softly-spoken young sheikh, whose sense of humour shines throughout the session, is no novice to mountaineering, Everest being his sixth peak in less than three years, but it was the sight of this looming mountain that set him on the snowy Seven Summit Challenge almost five years ago. “I was river rafting in Nepal and our 60-year-old guide, in the course of talking us through the culture, history and political turmoil of his land, started talking about Everest and the enduring appeal it has held for adventure-seekers.” His interest piqued, Moe declared that he was going to climb it one day, only to be met with laughter from the other end. “He had inspired me without even knowing it,” he smiles, “and I invited him to the press conference we had in Nepal after the climb. His eyes filled up with tears when I told him that I did it and had him to thank for it.” 100 > qatar today > july 2013
"My first call from the peak was to my mother, and even before she could say hello I asked her: 'Do you know where your son is at right now? The top of the world!' "
If it weren’t for the well-meaning but bluntly honest fellow, Moe wouldn’t have been at the peak on May 22 at 10 a.m. (local time), after a gruelling 12-hour trek, feeling like he had “won a gold medal at the Olympics... But I hadn’t just conquered Everest. I had conquered the mountain inside me. I can’t explain the feeling,” he says, trying to find words to describe the near-spiritual experience. “Those few moments there gave me an amazing clarity on what was important in life. “My first call from the peak was to my mother, and even before she could say hello I asked her: 'Do you know where your son is right now? The top of the world!',” he
beams. “And my mother said she had never heard so much pride in my voice.” Everest was the worthy reward at the end of a monumental four-year effort. “I had begun training soon after my return from Nepal and never stopped,” he says. “Each mountain I climbed after that prepared me for Everest. If one summit helped me master the technique, the next one taught me to endure the weather, while another one got me used to the altitude.” But Sagarmatha (the Nepalese name for Mount Everest) had her own lesson to teach still – patience. “The climb isn’t meant for adrenaline junkies,” he says, distancing himselffrom that tag. “It’s about patience and survival. Ultimately, it’s the mountain that decides whether we make any progress that day or not. Sometimes the weather is so bad that you can’t move at all.” Something else that Moe felt unprepared for, despite having “done the homework”, was the amount of time he would end up spending in the shadow of Everest. “Two months in the company of your fellow-climbers, away from family and barely knowing what was happening around the world – it was the harder than any physical strain I faced. It was like being in jail,” he says, “but one with a beautiful view.” And while the mountain had Moe firmly in her icy grasp, the world chugged on down below: his first daughter was born, the war in Syria continued to deteriorate and some guy was being deported from Saudi Arabia for being too handsome (he shakes his head
With ROTA sponsoring his climb and funds from the feat set to go towards education-based projects in Nepal, he simply couldn't allow himself to fail.
and laughs at the last one) – and he would receive news bites of these goings-on on his patchy satellite phone. And all the while, they were creating their own news at their end. This year many “firsts” and records were set on Everest – the first Pakistani woman, the first amputee, the oldest man, the first female twins... “I am exceptionally proud of all of them. Especially the first Saudi woman and youngest Arab to have scaled Everest, Raha Moharrak, who, along with Palestinian Raed Zidan and Iranian Masoud Mohammad, made up our group, Arabs with Altitude. We have been doing the Seven Summit Challenge together and hope to complete it with Mount McKinley in Alaska some time in May next year,” Moe says. “I wouldn’t imagine climbing without these guys. We have been doing this together for so long now that we know each other's strengths and weaknesses. We know when someone needs to slow down, when they need a push. They are like family.” Through the many mental and physical challenges that Everest threw at them, they stuck together. “Staying healthy was a top priority. If you got sick, it was all over. I don’t know how we managed that, despite sleeping on icy cold floors and drinking gravelly water. While at the base camp, I found out about my long-dormant asthma, suffered a rib injury and a bad frostbite. All this in addition to the worry of falling into a crevasse and breaking your neck,” he jokes. More than anything else, he says what kept him going was the cause he was representing. With ROTA (Reach Out to Asia) sponsoring his climb and funds from the feat set to go towards education-based
projects in Nepal, he simply couldn’t allow himself to fail. “When thousands of children are depending on you reaching the summit, you don’t feel like giving up,” says ROTA’s brand ambassador, who is committed to raising awareness about its projects. He describes his experience at a ROTA-sponsored school in a village in Nepal. “We were talking to the children, telling them where we were from. To my surprise all of them knew Qatar. Then I was told most of the men in their families worked here. When I was introducing a fellow climber, who was from Lebanon, a little girl in the class became quite upset and started crying. In between sobs she explained that her mother was working in Lebanon, carrying apples up and down a hill every day, and suffered many beatings at the hands of her employers. She was inconsolable.” Moe is quiet for a while. “Most of us employ maids, but we seldom think about what they have left behind at home. More often than not their only priority is giving their children a good education and better opportunities. This is what ROTA is working towards,” he signs off, urging people, especially corporates, to donate generously towards the cause. The mood is sombre and the silence is deafening. Celebration had given way to reflection. Effortlessly, Moe Al Thani has succeeded in giving the occasion a whole new dimension. This was more than just an adventure of a lifetime; it was more than a personal achievement; it was more than something to fuel the fierce Qatari pride – it was one man's effort on behalf of an unnamed girl in an obscure village in Nepal who was missing her mother
Everest and the environment “Our guides on the mountain pointed out how there were now new lakes that weren’t present even a few years ago. The ice, too, was soft in many places. It made the climb easier for us, but again, as the Sherpas noted, these were all effects of global warming. As for physical pollution, all climbers are cautious to 'Leave No Trace' and littering is not allowed.”
Climbing K2 “K2 is the second deadliest mountain in the world. It is called ‘the widower’ and I am married (laughs). It’s not on my list right now, the risk is too high. I love my kids and want to watch them grow up.”
Trailblazer “Currently there isn’t much interest in Qatar for mountaineering. I’d be flattered if this inspires more people to take it up. I’d be more than happy to take a group from Qatar to scale Kilimanjaro, the highest point on the African continent.”
What’s Next? "Who knows! My bucket list is long and never-ending, so there’s no telling what’s in store after I complete the Seven Summit Challenge. Maybe the Grand Slam (seven summits plus the two poles), or the deepest point on Earth..." qatar today > july 2013 > 101
Qatar Today looks at two expatriates from everyday life, one who has lived here for a significant amount of time and another who has just made Doha his home, for their take on life in this city.
My Home in Qatar Edwin Ileto
Assistant Marketing Manager - Luxury and Fashion, Ali Bin Ali Group In Qatar since: May 2004 Qatar is home: Basically, the main reasons for my move to Qatar were to earn more than I could back home and to be open to different opportunities outside the Philippines. Since Qatar was starting to grow back then, I decided to strike whilst the iron was hot, so to speak. This opportunity has helped me in all aspects – mentally, socially, emotionally and financially. Doha then, Doha now: Qatar before was a quiet place and, only a few people from the outside world knew what the country was like. Since then, its steady economic growth has put Qatar on the world map. Qatar today is bustling with construction work, restaurants opening left and right, and shopping malls being built all over the country. Back in 2004, Qatar was just a simple country with few establishments to visit and explore. Business-wise, as Qatar was just in the beginning stages of its development, businesses and work opportunities were somehow limited in terms of availability and high competition. Adapting to the culture and climate of Qatar was also challenging.
healthcare system and education institutions. The country is also very good in organising big events and I applaud its efforts in participating in international sporting events like the World Cup in 2022. Doha is Change: Qatar has given me many lessons in life. Some of these include how to adapt to working with different nationalities, working in both cold and very hot climates, and surviving in an alien country when your family is half a world away. Looking forward: I see myself as part of Qatar’s success. If time permits, I want to be here during the World Cup in 2022. After so many years here, I can say that somehow I am relatively settled in Qatar. I have already familiarised myself with the country, the businesses, the people, the culture and everything else. I don’t mind working here in the long run. Qatar is still young when it comes to opening itself to the world. I would like to be part of that development and witness how the country unravels itself to its full potential.
What you admire about Doha now: I admire the country for improving its infrastructure,
New Beginnings Sanjeev Thakur
Country Operations Manager, FoodMark WLL In Qatar since: March 2013 (four months)
just arrived: Business growth prospects brought me to Qatar.
growth every year here. I have a five-year plan which is under implementation now.
New Beginnings in Qatar: Whether it is education, entertainment, business environment, social outlook or future planning – it is all happening here. What I appreciate here is that even though it is a smaller city when compared to most, it is a more social place. You are able to meet more people here. However driving in an organised manner is something I miss the most. A lot of drivers on the roads do not follow the traffic rules. Heavy traffic is another thing that puts you off.
looking forward: Doha is a very captivating city, and opportunities arise almost every day. Business is growing due to increased flow of expatriates arriving to handle the expanding opportunities. This is only set to increase further. From the company point of view, we feel there is a lack of quality dining options in all segments, be it fast food, casual dining, fine dining or night clubs. My approach to work is a lot to do with social networking, marketing and business development, rather than pure operations. It is a very demanding market and that needs to be respected.
Aspirations: With the development happening around, I see 102 > qatar today > july 2013