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Dubai’s real-estate market is looking vulnerable again Dubai’s property market looks like it has hit a peak. Residential real-estate sales fell by 69% in the first half of 2015 compared to the same period the year before, according to a report released by the country’s Land Department. This after the IMF warned the Dubai government that it could be facing another property bubble. What worried the IMF? Property prices climbed 32% from the first quarter of 2013 to the first quarter of 2014. In response, the government tightened lending and doubled sales duties to discourage speculation. Residential property prices have fallen between 1% and 2%, according to reports by property developer JLL and surveyor/ consultants Cavendish Maxwell, respectively.
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That is likely to just be the beginning. Standard & Poor’s wrote in a recent report that it’s only a matter of time before this drop off in sales takes a toll on price. “Additional supply and lesser demand on the UAE property market this year is likely to result in a moderate 10% to 20% correction in Dubai residential real estate prices — much less than what led to the Dubai crisis in 2009,” it said.
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Amazing and helpful piece on travel hacks not commonly known. I’ll be referring to these tips next time I fly, especially long routes that yield the most time and money! I had no idea what those code shares were and how they can help me get an upgrade. Thanks!
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Your cover story in August was quite the eyeopener and mind-boggler. I cannot believe there are more than 3000 people with worthless degrees working and living in this region. It’s such a shame that we have general managers, principals and supervisors, leading institutions and companies, some of which are in accident prone industries such as oil and gas. I hope the respective authorities develop strict guidelines for employers and take action against such an obnoxious trend.
I wish more people understood the importance of trimming excess and unnecessary things from our lives. It seems so much of our lives are cluttered. Marie Kondo is a Japanese organizing consultant and author. Kondo’s method of organizing known as the KonMari method is becoming famous amongst many homemakers, however, her method consists of gathering together everything you own and then keeping only those things which “spark joy” and choosing a place for everything from then on and can easily be applied to any space, including offices. You should recommend her books in your publication. - Carlos
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London – The Arabs are in Town Although it was entertaining to see the GCC’s fascination with customized cars, I can see why governments across the region are pushing for regulations on public spending and lifting subsidies. With the current oil crisis, I worry for the economic future of our region.
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Bahrain reveals plan for $815m airport expansion Bahrain’s prime minister has announced the details of a planned $815 million expansion of Bahrain International Airport. The plans comprise seven key projects, including a new passenger terminal, 24 air bridges, new arrival and departure lounges and airport ‘aprons’, where planes are parked, unloaded and refuelled. It is intended to increase capacity at the airport to 17 million passengers a year, up from 4 million at present. The expansion will be completed by the first quarter of 2019. The airport scheme will also include housing, infrastructure, electricity, water, health, social development and roads. – Arabian Business 10
Gulf Insider September 2015
Oman oil production climbs above 1m bpd in July Oman’s crude oil and condensate production rose to more than 1 million barrels per day in July for the first time in its history, the oil and gas ministry said in a report. The sultanate has been ramping up oil production despite a global supply glut that has hit oil prices, with the Gulf Arab country looking to compensates for the drop in its oil revenue. “The average daily production rate during July exceeded the barrier of 1 million barrels for the first time in the history of Oman’s oil industry,” the ministry said. Total oil output was up 0.5 percent from June, producing 894,156 bpd of crude oil and 106,926 bpd of condensate. The month’s crude exports reached 796,977 bpd, with all shipments going to the Asian market, while supplying 163,062 bpd to domestic refiner Oman Oil Refineries and Petroleum Industries Company. Though a small non-OPEC oil producer, Oman’s crude oil forms part of the benchmark price for millions of barrels per day of exports from Middle East producers to Asia. – Gulf Business News
Building permits increase 7pc in Bahrain A seven per cent increase in construction permits was recorded in the first quarter of 2015 compared to the same period last year, as reported by the Information Ministry. This reflects investor confidence in Bahrain and the government’s development efforts. - Trade Arabia
News
Batelco Announces its Support for Bahrain International Airshow 2016 The 4th edition of the Bahrain International Airshow will take place under the patronage of H.M. King Hamad bin Isa Al Khalifa and under the supervision of Shaikh Abdullah bin Hamad Al Khalifa, King Hamad’s personal representative and Head of the BIAS Supreme Organising Committee from January 21 to 23, 2016. BIAS 2016 is being organised by the Ministry of Transportation and Telecommunications and the Royal Bahraini Air Force in association with Farnborough International Ltd (FIL). Batelco Chairman Shaikh Hamad bin Abdulla Al Khalifa and H.E. the Minister of Transportation and Telecommunications and Deputy Chairman of the Supreme Organising Committee for BIAS, Engineer Kamal bin Ahmed Mohammed, signed the sponsorship contract at the Civil Aviation Affairs (CAA) premises last month.
Batelco Chairman Shaikh Hamad bin Abdulla Al Khalifa and H.E. the Minister of Transportation and Telecommunications and Deputy Chairman of the Supreme Organising Committee for BIAS, Engineer Kamal bin Ahmed Mohammed, signing the contract, with Batelco Corporate Affairs Senior Manager Osama Alsaad, left and Civil Aviation Affairs Acting Undersecretary Ahmed Nemat Ali, (right)
Oil prices unlikely to go up in near future Prices are unlikely to bounce back until second quarter of next year, analysts said as the prices dropped to a six year low due to concern over the growth of the Chinese economy. Brent, the global benchmark, dropped 3.83 per cent to a low of $43.72 (Dh160.5) a barrel in early trading, the lowest since March 2009. US West Texas Intermediate fell 3.63 per cent to $38.98 a barrel, hitting a February 2009 low. Oil analyst Richard Mallinson, says that sentiment remains negative and supply response is not yet visible. He said a number of projects have been either cancelled or suspended due to low oil prices. “There has been steep cut in capital expenditure by oil companies.” Daniel Ang, an Investment Analyst from Phillip Futures said they do not have much hope for prices to stay afloat. – Gulf News
Kuwait banks drive earnings growth in H1 15 - NBK Economic Report Financial results for corporates listed on the KSE revealed strong growth in banking, real estate and financial services sectors during the first half of 2015, though overall results were more mixed. Weakness in telecommunication and oil and gas companies offset the robust growth seen in other sectors. As a result, aggregate profits were up an unimpressive 5.6 percent with no noticeable impact on equity prices. Earnings of 169 Kuwaiti listed companies totalled KD 868 million. Earnings’ growth appears to have moderated somewhat from the stronger results last year. Reported losses continued to shrink, declining by 42 percent to KD 29 million. The number of loss-making companies was steady. Banks were the main driver of growth with the sector’s profits up a solid 13 percent this year. Banks benefitted from an improving operating environment and healthy growth in credit. With such results, bank profits continue to dominate the listed corporate sector with a 41 percent share of total earnings. The real estate sector was the second main contributor to growth in earnings. – Zawya
Gulf Insider September 2015
11
News
Foreign investors can now own shares in Etisalat
Business confidence falls in Middle East
A UAE federal decree has been passed, allowing foreign investors to own shares in Etisalat. The amendments introduce momentous changes, including the possibility of foreign investors owning shares in Etisalat Group, while Etisalat’s legal name will change to Emirates Telecommunications Group Company PJSC, it will continue to be known as Etisalat Group. These changes allow for legal persons, including institutions, in the UAE, or UAE government agencies, or other legal persons, to own shares in Etisalat. Also, non-national individuals and entities may own up to 20 percent of Etisalat Group’s shares, subject to the approval of the Etisalat Group Board of Directors. However, restrictions in respect of voting rights shall be applied to the shares owned by nonnationals and such shares shall not hold any voting rights at Etisalat Group’s general assembly although holders of such shares may attend the meetings. -Emirates 24/7
Business confidence in the Middle East continued to fall in the second quarter of 2015, but not as quickly as it had in the first three months of the year, according to the to the Global Economic Conditions Survey (GECS). The slight optimism was due to a temporary reprieve in oil prices during the spring, but was a short-lived flame of hope for OPEC members, due to the prospect of Iran re-entering the market. More than any other region, 43% firms in the Middle East began looking for opportunities in new markets while more than 53% sought ways of reducing costs during this difficult period, said respondents to the survey. Saudi Arabia, which has yet to achieve significant diversification away from oil, was drawn into Yemen’s internal conflict during the second quarter. Qatar on the other hand has continued to boom, owing to large reserves of natural gas rather than oil, as well as ongoing investments ahead of the 2022 FIFA World Cup. While Qatar is expected to record strong growth of 7.1% this year, the IMF revised its overall forecast for the region down by a percentage point in its April 2015 World Economic Outlook. – ME Newswire
Tamkeen Honours Graduates of Hospitality Training Programme A total of 75 Bahrainis signed up for the programme, the training and certification for which are provided by Third Wave International and the William Angliss Institute. The integrated training course prepares participants to provide high quality and world-class services, with content including dealing with guests, customer care, operations and other important skills required by the hospitality sector in the fields of reception, dining, management and others. “The hotel sector is one of the fastest growing sectors in
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Gulf Insider September 2015
the Kingdom, offering Bahrainis with many developmental opportunities. The first edition of our hospitality programme is a testament of this fact, with all 15 trainees getting careers in this industry, which this year’s participants will also be able to peruse through the specialised skills that they acquired during the programmme to develop themselves and advance their careers in the industry,” said Operations Chief Executive Amal Al Kooheji.
News
GIF to push for industrial development Gulf Industry Fair 2016 (GIF) will be unveiling a series of events and initiatives to enhance its reputation for being the GCC’s exclusive annual industrial promotion showcase championing economic diversification and industrialization across the region. The 2016 annual industrial event is scheduled to take place from Feb. 9-11. Organizers say the 2016 exhibition takes place at a watershed period for the economies of the region and the economic importance for encouraging industrial promotion has never been required more than at this time of declining oil prices. The GIF will focus on promoting economic diversification through the elements of industrial development. – Arab News
Kuwait’s inflation soars to 3 year high Kuwait’s inflation has soared to its highest level in three years, at 3.4 percent, according to the official statistics office. The significant rise is heavily influenced by housing costs, which account for nearly 29 percent of consumer expenses. They jumped 6.3 percent since last year. The waiting list for government housing in the Gulf state is at least 20 years, according to past reports. An influx of expatriates, who account for two-thirds of the population, without matching residential construction, also has caused rents to climb significantly. Food and beverages, which account for more than 8 percent of the basket, rose 2.3 percent from a year earlier. Kuwait is under pressure to reform its public spending, including reigning in subsidies and increasing spending on infrastructure, which has failed to keep up with population growth. The International Monetary Fund (IMF) and the finance ministry have said the country risks dipping into a deficit as early as 2017 if it does not respond to economic reforms. Oil accounts for more than 90 percent of export revenues and the state budget. The economy has been hit hard by the 50 percent fall in oil prices since June. – Arabian Business
Post-sanctions Iran to face serious power crisis Despite significant power production growth, Iran’s electricity export plunged in 2015 due to soaring domestic consumption. But during the post-sanctions era, it’s expected the country’s industrial sector will revive and the power needs will increase by 20 to 25 percent in this sphere. According to the report, released by the energy ministry, Iran has exported 4 billion kWhs of electricity from March 21 to August 8, while the figure for January 1 to March 20 was 2.2 billion kWhs. Therefore Iran’s power export in 2015 stood at 6.2 billion kWhs, about 15 percent less than 2014. On the other hand, the country’s electricity import increased by above 10 percent to 2.4 billion kWhs in 2015. Iran’s industrial sector consumes about 35 percent of total electricity consumption, while this sector works at about 70 percent of capacity due to sanctions. – Trend News
Gulf Insider September 2015
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Special Feature
Bahrain to End Subsidies? With dropping oil prices, governments across the GCC are pushing to lift subsidies on various products due to an increasing budget deficit… Gulf Insider inquires further. Mohammed Adel Fakhro
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Gulf Insider September 2015
P
ertaining to this need, the government has decided to remove meat subsidies starting September 1st, however this move has been delayed as officials discuss a more feasible way to compensate its citizens and residents for the increased prices. Gradually, subsidies on fuel and electricity will also be lifted. We spoke to Mohamed Adel Fakhro, Board Member and Chairman of Entrepreneurs Committee in the Bahrain Chamber of Commerce and Industry about the implications this has on the public and what difficulties they may potentially face. “The subsidies were initially put with good intentions for the people of Bahrain, however, it’s becoming an unsustainable expense for the government. The country needs to look for ways to decrease budget expenses,” he said. The IMF has repeatedly called on Gulf states to cut spending on energy subsidies, and estimates that Middle East governments spend $250bn on reducing fuel prices for consumers. Bahrain needs the oil price to return to $82 per barrel to break even, according to data from Deutsche Bank. A state budget predicts a deficit of 1.50 billion dinars ($3.98 billion) in 2015, equivalent to 11.2 per cent of the country’s GDP; up from an originally planned deficit of 914
Special Feature
million dinars last year. As well, the government expects to run a deficit of 12.4 per cent of its GDP in 2016. Without additional fiscal measures, government debt is projected to increase and become an important source of vulnerability to the economy in the medium term. A gradual retargeting of subsidies to the lowerincome segments of the population, and controlling the growth of other current spending (the public sector wage bill and goods and services) would help stabilise debt in the medium term,” the IMF said in a statement. Like many other Gulf countries, Bahrain’s dependency on oil is affected most due to its smaller oil and financial reserves (Arabian Business). Mr. Fakhro confirmed, that even though the country has diversified its economy substantially, more is needed. “Diversifying the sources of fiscal revenue is essential
in the longer term to lower vulnerability to oil price shocks,” the IMF statement also said. “80% of Bahrain’s revenue comes from oil and the dropping prices are bound to reduce our income further since we don’t have taxes in this country, or region,” Mr. Fakhro continued to explain. The dilemma arises when it comes to who receives compensation if subsidies are cut in Bahrain to save costs. More than half of the 1.3 million population in the country are expatriates.They are likely to face the most difficulties since they won’t receive a potential reimbursement like the Bahraini nationals might. Some MPs in Cabinet have proposed Bahrianis be given an allowance for cut meat subsidies; accordingly breadwinners will receive an allowance of BD5, adults BD3.5 and children BD2.5. However this suggestion is subject to change. The introduction of ration cards has also been recommended. Mr. Fakhro believes a more a reasonable method
Accordingly breadwinners will receive an allowance of BD5, adults BD3.5 and children BD2.5. However this suggestion is subject to change. The introduction of ration cards has also been recommended. can be applied to ease pressure on lowincome families especially. “The current suggested methods do imply a slight discrimination between the expatriates and nationals, however it depends on how you define the government’s objective,” he explained.
“It doesn’t seem like oil prices will go up any time soon, so we do need to find ways to decrease the budget deficit within reasonable efforts.” “I’m in favour of restructuring the subsidies program in a way that will benefit those who need it the most. The government is more responsible for the low income bracket and I believe for profit companies don’t need subsidies...” Mr. Fakhro said. He referred to countries like the US and Singapore that offer low income families/individuals a discounted grade for groceries. “Basically, the fairest approach in my opinion is that individuals above a certain income bracket shouldn’t be eligible for subsidies.” Starting with meat, the government is looking into lifting subsidies for expatriates on fuel, electricity and water as well. Mr. Fakhro cited concern for construction workers and labourers in Bahrain as an example; “they buy bread for 10fils, so should the government cut subsidies on various products, it will hinder the survival of one of the poorest demographic in the country.” Many expatriates that Gulf Insider spoke to are mostly worried about subsidized electricity and meat. The setup of a new bureaucracy is also another expense that will have to be factored in Mr. Fakhro agreed. Pointing out that in an attempt to cut costs by cutting subsidies, the creation of a new bureaucracy is an added expense. “We need a precedent to control the setup of a subsidies program on fuel, food and other amenities, similar to what we have for housing,” he explained. “We definitely need a group of international consultants and professional who are well-versed in this sort of issue and help develop a system feasible for both the expatriate and national population.” “Introducing value added taxes is another suggestion,” he continued, “But let’s see what impact lifting subsidies will have first.”
Mohamed Adel Fakhro is the Bahrain Chamber of Commerce and Industry (BCCI) Board Member, BCCI Entrepreneurs Committee Chairman, and Abdulla Yousif Fakhro Group Director.
Gulf Insider September 2015
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Special Feature
Will Lower Oil Prices Lead to Cuts in Subsidies? Gulf Insider looks into fuel prices, subsidies and the need for economic diversification in the GCC.
oil, and production in Alaska and the North Sea) and causing a decline by OPEC abandoning supply management. Prices of OPEC’s benchmark crude oil have fallen about 50 percent since last year, from around $115 to $45 per barrel. – World Bank Report
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80% of Bahrain’s revenue comes from oil and the dropping prices are bound to reduce income further. Without additional fiscal measures, government debt is projected to increase and become an important source of vulnerability to the economy. Pertaining to this need, the government has decided to remove meat subsidies. According to Information Affairs Ministry, BD47 million are spent annually on meat subsidies. - GDN
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The IMF has called on Gulf states to cut spending on energy subsidies to avoid running into a deficit and to diversify its economy. A state budget for Bahrain predicts a deficit of 1.50 billion dinars ($3.98 billion) in 2015, equivalent to 11.2 per cent of the country’s GDP; up from an originally planned deficit of 914 million dinars last year. As well, the government expects to run a deficit of 12.4 per cent of its GDP in 2016. – IMF Report
1
The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization that co-ordinates and unifies petroleum policies among member countries, in order to secure fair and stable prices for petroleum producers. OPEC countries include The Islamic Republic of Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Indonesia, Libya, the United Arab Emirates, Algeria, Nigeria and Angola.
2
OPEC (especially its large producers) has traditionally acted as the global oil market’s swing producer, using its spare capacity to adjust oil supply and stabilize prices within the desired price range (set to $100-110/bbl during 2011-14). This targeting of an oil price band dramatically reversed course in November when OPEC decided to focus instead on preserving its market share by maintaining its production level of 30 million barrels per day after the emergence of unconventional oil sources (biofuels, oil sands, and shale 16
Gulf Insider September 2015
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Low oil prices, if they persist, will push other commodity prices down, especially those of natural gas, fertilizers, and food commodities. Price collapses unfolded after the emergence of unconventional oil sources (biofuels, oil sands, and shale oil now, and production in Alaska, the North Sea, and the Gulf of Mexico then), the decline was accompanied by OPEC abandoning supply management. – World Bank Report
4
Gulf countries and shale producers are feeling the heat as oil prices continue to plunge. The number of rigs in the US has been falling since oil prices started to decline. From 1,609 rigs last October, to 674 rigs last month. According to the US Energy Information Administration’s Drilling Productivity Report (DPR), crude oil production in August from seven major US shale plays is expected to decline by 91,000 barrels a day to 5.36 million barrels a day. – Gulf News
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Critics often point to economic distortions created by subsidies, especially subsidies that are used to promote specific sectors or industries. Generally, such subsidies tend to divert resources from more productive to less productive uses, thus reducing economic efficiency. – Global Subsidies Initiative, International Institute for Sustainable Development
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Last year The Bahrain government had allocated BD1.535 billion ($4.05 billion) for subsidies and support schemes according to the Finance Ministry. Subsidies included BD67 million for food, BD268 million for petroleum products, BD610 million for gas and BD350,000 for electricity and water. Another BD105 million went to lowincome families, BD26 million to the Social Insurance Fund, BD4.4 million to the Royal Charity Organisation, BD45.3 million to Bahrain University, BD6 million to the Bahrain Teachers College, BD9.1 million to Bahrain Polytechnic and BD40 million covered rent allowances. (Trade Arabia)
Business
MENA primed to become global logistics hub Region generated $66 billion in revenues in 2013 and faces tremendous future growth.
T
he MENA Region is all set to become a global logistics hub in the next few years, an Al Masah Capital Limited Report on “Transportation & Logistics in MENA” has revealed, which experts believe will be driven by the emergence of the MENA-Asia trade corridor that will redefine global supply chains. Notably in 2013, India and China ranked as top merchandise export and import destinations for MENA markets. In addition, the MENA Region is strategically located between the West and the East, serving as an ideal transshipment hub for international trade and commerce. The transportation and logistics industry in MENA generated approximately US$66 billion in revenues in 2013 (2.7% of the GDP) of which the GCC accounted for US$40 billion (2.5% of the GDP) cited the report. “As countries in MENA seek to diversify their economies, significant investments are being made into the development of state-of-theart infrastructure and logistics facilities. Along with the region’s expanding consumer base, rapid adoption and growth of e-commerce and current vast transportation infrastructure are driving the MENA Region’s positioning and potential to become a transportation and logistics hub for the world. The region has also witnessed a rise in the demand for transshipment services augmented by the overall growth in international
trade,” Mr. Shailesh Dash, Founder and CEO of Al Masah Capital commented. Infrastructure spending in the region is expected to reach US$4.3 trillion by 2020 including an ambitious GCC rail network worth US$128 billion, several light-rail projects worth US$76 billion across the region’s metros, and port development projects across different markets such as the US$750 million second terminal at Dammam’s King Abdulaziz Port in Saudi Arabia, Khalifa Port in Abu Dhabi, and Sohar Port and Free Zone in Oman. The region also has developed many free zones such as the Dubai Airport Free Zone Authority (UAE), Tanger Free Zone (Morocco), Salalah Free Zone (Oman), Aqaba Special Economic Zone (Jordan), Bahrain Logistics Zone (Bahrain), and Jebel Ali Free Zone Authority (UAE). “All in all, we find that the significant rise in external and internal merchandise trade activities will spur demand for the rapid evolution of transportation and logistics in the MENA Region. The new trade corridor between MENA and Asia is witnessing steady growth and given the geographic similarities between these regions, many MENA-based logistics companies are seeking to expand into Asian markets and other high-growth countries resulting in brighter future prospects,” Mr. Dash added. Another finding after assessing current industry trends is that MENA companies are increasingly seeking contract logistics services to focus on primary activities
and simultaneously carry out logistics activities with better expertise and at a lower cost. In the report, the industry has been categorized into four segments with Transportation being the most important segment, accounting for 40–60% of the total logistics cost, followed by Warehousing (15–20%), Freight Forwarding (10%) and Value-Added Logistics Services (5%). Corroborating the findings of the report by Al Masah Capital, Transportation including road transport, sea and air freight, Warehousing and Freight Forwarding in the MENA Region accounted for 52%, 27% and 21% of the total cost respectively, a Booz & Co research report revealed. The report has also revealed that despite robust growth prospects, MENA’s transportation and logistics industry faces various challenges. Currently, the transportation and logistics industry is highly fragmented, which leads to inconsistent market regulations, poor service quality, and unskilled manpower, amongst many others issues. “Overall, the Middle East is receiving significant attention from the global players in logistics and transportation. Attractive opportunities for business biodiversity, alluring operating margins and sophistication in operational techniques will also contribute towards long-term profitability outlook that looks positive,” Mr. Dash concluded.
Gulf Insider September 2015
17
Business
Dubai -
Dollars and Sense
A
fter a decade of finding bargains in real estate markets against the backdrop of a secular weak US Dollar, as well as a regime of declining interest rates, foreign investors in the last year have faced the prospect of sharply higher housing prices in Dubai, as their nations’ currencies have fallen against the US dollar. In times of a weak dollar market, real estate prices have had greater rates of appreciation, when compared to that of a strong dollar. Whilst there have been several factors that contribute to the under/over performance in each of these periods, it is clear that USD strength is a major variable in the contribution of returns of the sector. That could reshape certain global housing markets going forward (explaining in part why global real estate market returns have had significantly higher correlations in the past two years) as the baton shifts from an investor oriented market to that of an end user driven market. The strength of the US Dollar since 2014 has had significant implications for the attractiveness of Dubai (and even the US housing market) for foreign 18
Gulf Insider September 2015
investors, and has particularly affected markets that have been dominated by foreign investment flows. Developers have responded by offering an array of incentives via payment plans to cater to both the foreign investor base, as well as attract potential end users from the domestic market. These macro variables have been the predominant factor behind rising correlations in the world real estate markets, rising from a decade wide correlation of 0.29 to 0.65 in the last two years, as a financial regime in the form of change has caught global investors
off guard. Against the backdrop of lower oil prices, and a rising dollar and interest rates, speculative behavior will likely continue to subside, and transactional activity will remain subdued. This is positive news for the end user as it allows for the allocation of capital formation to an asset class that has historically been for the purposes of housing and longer term stability.
Article submitted by REIDIN, the leading real estate information company focusing on emerging markets.
Business
Image: AP Photo/Kamran Jebreili
Another Dubai debt crunch Dubai will likely suffer the most as falling oil prices hit economies across the Middle East.
C
ar parks filled with abandoned sand covered Porsche and Ferrari sports cars was an enduring image of Dubai’s last flirtation with economic oblivion five years ago. The emirate had loaded up on billions of dollars debt during the last decade in a race to diversify its economy so as to be less dependent on oil. The strategy came unstuck in late 2009 when the emirate shocked the markets when it announced it needed to freeze $26bn of debt owed by one of its largest “Government-Related Entities” (GREs), Dubai World. Eventually Dubai was able to borrow from Abu Dhabi, its wealthy partner in the United Arab Emirates and the nasty bankers in New York and London who
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Gulf Insider September 2015
According to the IMF, the UAE’s fiscal balance will turn negative this year for the first time since 2009 with a deficit equal to 2.3pc of GDP expected.
had lent the money didn’t have to mark a massive default on their balance sheets. It looked like Dubai was out of the woods and the economy well on the way to recovery until late last year when the price of oil started to plummet. Although the port city has little crude of its own its mercantile economy depends to a large extent on the wealth and economic activity that is created around in Abu Dhabi, Saudi Arabia, Qatar and Kuwait. These energy superpowers create the economic activity which sustains Dubai and its large service economic which rests on the industrial port of Jebel Ali and the emirate’s position as a transport hub. When oil is trading at $100 per barrel this model works well. International companies base more of their employees in Dubai and this in turn creates demand for real estate and services such as banking and leisure. However, with oil now trading at around $50 per barrel and some forecasters warning that crude may even drop to levels much lower Dubai’s economy is once again looking extremely fragile. The International Monetary Fund (IMF) warned recently that Dubai was once again loading up on debt. According to the fund GREs have increased their net debt positions to around $93bn (£60bn) over the last year, while the emirate’s total debt is arguably unsustainable at around 102pc of gross domestic product. At the same time some key drivers of Dubai’s economy are beginning to stutter. Real estate - a key driver for the economy and one partly linked to expat employment - is in reverse. According to JLL transactions fell by almost 70pc in the second quarter. Of course Dubai will also be able to fall back on the financial support of Abu Dhabi and the wider UAE. However, the fall in oil prices is now taking its toll on the entire federation. According to the IMF, the UAE’s fiscal balance will turn negative this year for the first time since 2009 with a deficit equal to 2.3pc of GDP expected. Although this isn’t calamitous and the UAE as a whole has billions of foreign currency reserves the falling oil prices is clearly a major risk. Just keep an eye out for abandoned supercars at the airport.
Business
ABU DHABI OFFICE
RESEARCH REPORT H1 2015
K
night Frank has released their Abu Dhabi Office Research Report for the first half of 2015, which provided insight and commentary on the office real estate market in the UAE capital and highlighted a number of key observations. The report highlights a lower number of office space enquiries in the first six months of 2015, which may be due to uncertainty stemming from lower oil prices. The main demand for offices was between 200 sq m and 500 sq m (50% of total inquiries) while demand was led
by the financial services (22%), leisure/ hospitality (15%) and professional sectors (15%). Over the same period, the number of enquiries from the engineering and construction sector has increased, reflecting growing demand stemming from rising infrastructure construction activity. As per the report, little change in office headline rents has been witnessed in the first half of this year but rents are likely to see upward pressure in the next twelve months as little Prime or Grade A new office supply is due to be delivered to market. Prime office rents edged up in
Abu Dhabi in the first six months of 2015 to AED 1,900 per sq m, whilst rental values for Grade A shell and core office space remained steady at AED 1,400 per sq m. Going forward, Knight Frank expects that Prime/Grade A supply under construction or being delivered to the market does not fully meet current market demand, in terms of price point and location. Prime office supply due to be delivered or currently vacant includes Al Hilal Bank building, Al Maryah Island and part of ADGM Square (FZ) respectively. Commenting on the wider picture of real estate in the city, the report pointed out to the ongoing process of diversification where the UAE continues to cement its position as a regional financial centre and a hub for trade, transport and tourism. Further spending to improve the city’s infrastructure should make it a more attractive destination for private investment in the medium to long-term. In turn, this is likely to have positive implications for office demand in Abu Dhabi.
4 Strategies for Working Smarter
W
e’ve all got 24-hours to work with. Success comes down to what we’re able to do in those hours. Here are 4 strategies that will help maximize work habits and productivity:
1. Parkinson’s Law - “If you wait until
the last minute, it only takes a minute to do” observed Cyril Northcote Parkinson. We’ve all experienced Parkinson’s Law. We struggle for a month to finish a project, then magically get it done in the final week. Or, the house is a mess for weeks, then spotless within a few hours of the in-laws showing up.
2. Flow - AKA being “in the zone,” where
you’re so focused that you’re numbed out to any distractions. It’s a state we can all tap into: writers, musicians, and entrepreneurs. We’re at our most efficient when in the zone.
3. Single-tasking
- Multi-tasking a misnomer better termed “taskswitching.” We don’t juggle so much as we jump around. The problem is ending up with too many open projects, and spreading yourself too thin.
4. 2-Minute Rule - Having a list of two-
minute tasks on hand whenever windows appear will increase productivity. Cleaning out the inbox, checking voicemail, approving a request, all in brief openings in the schedule, builds our efficiency muscles and gets the ball rolling for bigger tasks. A major cause of procrastination lies in overthinking the next step. It often takes less time to do the action than the time spent thinking about it.
Gulf Insider September 2015
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Business
Advertorial
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center for indoor skydiving in the Kingdom of Bahrain, with the tallest indoor skydiving tunnel in the world at an overall height of 12 meters for the glass flight chamber. Wind speed will reach up to 290 km/h in the 12 by 4.3 meters high glass flight tunnel. Equipped with advanced safety technology and suitable for all age groups, the attraction is set to lure amateurs and experienced fliers. Indoor Skydiving Specialists will be present to educate visitors and train the fliers. A variety of facilities such as restaurant and cafes, merchandising outlet, a viewing gallery and the multifunctional hall are also included. The new and exciting experience lets customers learn to fly without the need to wear a parachute or boarding an aircraft. Bahrain’s first skydiving tunnel is located in the Southern Governorate of Bahrain, Al Wasmiyah, and is scheduled to open at the end of the year.
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VIVA and Azadea to expand benefits for VIVA Elite members An agreement signed with Azadea Group, one of the leading fashion and lifestyle retail companies in the region, will further expand the range of benefits and privileges offered to VIVA Elite members. Members can enjoy discounts at Azadea’s premier fashion retail shops including Boggi Milano and Salsa, along with refined restaurants Kosebasi, The Butcher Shop & Grill and Columbus Café. “We are pleased to have Azadea joining the exclusive line up of VIVA Elite partners,” Andrew Hanna, VIVA’s Chief Commercial Officer, commented. With their VIVA Elite membership,
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Gulf Insider September 2015
customers are eligible for a variety of world-class exclusive benefits to complement their lifestyle, from travel to hospitality and sports. They can enjoy savings at some of Bahrain’s top five star hotels and sports clubs as well as restaurants and lounges, such as the The Ritz-Carlton, Intercontinental Regency and The Domain. They can receive special deals offered at the Royal Golf Club to play on the Montgomeriedesigned Championship course. VIVA Elite customers will also benefit from free access to the finest lounges at international airports around the world.
For more information, customers can contact 103, visit www.viva.com.bh/elite or any of VIVA’s stores.
Business
Fire Station Qatar Museums announces first 20 artists to benefit from the “Artist in Residence” programme at the old Doha Fire Station.
Q
atar Museums Chairperson H.E Sheikha Al Mayassa bint Hamad bin Khalifa Al Thani, Qatar Museums (QM) announced the 20 artists who have been selected to take part in the innovative “Artist in Residence” programme, which is hosted in the newly-renovated Doha Fire Station building. Launched in March 2015, the “Artist in Residence” programme is scheduled to kick off in mid-September, and marks an important milestone in QM’s goal to provide support to the next generation of cultural producers and to help inspire an indigenous culture of creativity and innovation in Qatar. The residency programme will open to local Qatari artists and residents of Qatar first, and then to regional artists at a later stage. The creative exchange programme runs in nine-month cycles, with a different group of artists taking part in each cycle. A group of six jury members convened twice to agree on the final 20 artists from a talented pool of more than 150 applications. The judging panel included Sheikh Abdullah Al Thani, Mahmoud 24
Gulf Insider September 2015
The residency programme will open to local Qatari artists and residents of Qatar first, and then to regional artists at a later stage. Obaidi, Fatima Al Rumaihi, Jean-Paul Engelen, Wissam Al Mana and Rhys Himsworth. The group of 20 artists, which includes 11 Qataris, consists of artists from a range of different disciplines including art, photography, design, architecture and others. To welcome and congratulate the inaugural group of residents, H.E Sheikha Al Mayassa bint Hamad bin Khalifa Al Thani and Hala Al Khalifa (Director of
the Fire Station) hosted a get-together where residents were able to meet and greet one another, as well as share their vision and plans for their respective residencies. Commenting on this occasion, Hala Al Khalifa, Director of the Fire Station, said: “Each application that we received was unique and truly impressive and every artist used their talent and creativity and showed their commitment to this initiative. This Artist in Residence programme perfectly reflects Qatar Museums’ vision of enriching the lives of all those who live in and visit Qatar, as well as inspiring an indigenous culture of creativity and innovation, and we hope that the nine month residency will enable these talented artists to be recognised on an international scale to become the creative sparks of our future.” The residency programme will involve mentoring and tutoring from respected local artists and will give the residents the opportunity to be in close contact with some of the big international names that Qatar Museums continually attracts to Qatar, such as Richard Serra, Louise Bourgeois, Takashi Murakami and Damian Hirst. This is in addition to access to world class curators, art historians and professors. The Fire Station will also be hosting open studio visits for art dealers in the region, and will be collaborating with QM’s free arts and cultural membership programme – the Culture Pass, offering a variety of activities and benefits for its members to enjoy. Housed in the original garage of the Fire Station building, the Garage Gallery will also host the residency end-of-year exhibition in June 2016 and will be open to artists, students and professors from universities across Qatar and the region for bookings.
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“As people travel around the world, they want to maintain their ‘home’ banking relationship, credit and easy access to their accounts,” Harpreet Arora, Head of Citigold Segment and Business Development at Citi Bahrain added. “Today, Citigold Global Banking allows our customers to take advantage of these and other world class services, 24/7 all over the world. Citigold Global Banking delivers a new level of value, performance and access that very few banks in the world can match.” Citigold’s premium package offers its clients their own Relationship Manager, international banking in various currencies, wide range of investment products in all major currencies and personalized privileges overall. Access to off-shore wealth management services means customers can easily maintain financial interests in different countries through Multi-country Pre-account Opening and Instant Fund Transfers, making it easy to open bank accounts in the destination country and transfer funds. Other services include transportability of credit history for local assistance towards credit card applications, global recognition of customer’s Citigold status, emergency cash withdrawal of up to 10,000 USD and free access to Citigold Centers in 36 countries featuring lounges, meeting rooms and free use of communication services.
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*Note: All services provided under Citigold Global Banking are subject to availability and local legal and regulatory restrictions. Citibank does not guarantee the availability of any of these services in any markets Citibank operates. Citibank reserves the right to change Citigold Global Banking product offerings without prior notice to customers Gulf Insider September 2015
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Finance
Islamic Economy State of the Global Islamic Economy – new report
D
ubai Islamic Economy Development Centre (DIEDC) have announced initial trends from the 2015-2016 edition of the ‘State of the Global Islamic Economy’ report and the accompanying Global Islamic Economy Indicator, ahead of the Global Islamic Economy Summit that will run in Dubai from 5-6 October, 2015. The report, which is being compiled for the third consecutive year, is set for release in the fourth quarter of 2015. Examining latest development trends and statistics across a number of key sectors that comprise the US$2 trillion Islamic economy currently featuring predominantly Muslim consumers, the report focuses on categories such as Islamic Finance, Halal Food, Tourism, Clothing and Fashion, Media and Recreation, and Pharmaceuticals and Cosmetics. The report will also feature an update to the Global Islamic Economy Indicator, which was introduced in 2014. The indicator is a composite index that presents the current outlook of the Islamic economy sectors across 70 countries beyond the growth of its assets, focusing on awareness, governance and social metrics. Furthermore, a special focus report on the Islamic Digital Economy will be launched this year alongside the State of the Global Islamic Economy Report.
Key Trends Islamic Finance:
New markets are emerging, with African countries launching debut sovereign sukuk and East Asian countries enabling their domestic markets to tap into Islamic
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Gulf Insider September 2015
financing. The Islamic Development Bank (IDB) and the Bill & Melinda Gates Foundation have formally launched a US$500 million grant facility to address poverty and diseases in IDB member countries. Meanwhile, European banks in Russia and Germany, for example, are also investing in Islamic finance through debut sovereign sukuk and Islamic banking windows.
Halal Food:
As the demand for safe, wholesome and humane food grows around the world, producers of halal food who truly adhere to the concepts of ‘Halal’ and ‘Tayyib’ foods have an opportunity to become the global standard for this segment. Saffron Road is a leading premium US brand in the halal and all-natural market; the company is ranked as the fastest growth brand of natural entrées in the USA, among all frozen entrées, not
just halal. The brand will achieve over US$40 million in retail sales this year, and is expected to grow over 50% next year.
Tourism:
There have been many success stories in the ever-burgeoning halal travel sector. HalalBooking.com, a travel search and booking website for halal-conscious travelers, has achieved tremendous success. The website’s booking for Turkey-based hotel clients has exceeded millions per resort, and hopes to reach 10 million per hotel for many of its properties by end 2015 and through 2016. This is in addition to other success stories such as Yamsafer, a hotel booking start-up from Palestine that raised US$3.5 million from Global Founders Capital.
Clothing and Fashion: In stark contrast
Finance
to the pressures the mainstream fashion industry faces in the aftermath of the global recession, the modest fashion space continues to expand. Muslim fashion e-commerce platforms such as Hijup and Modanisa are receiving further investments to grow their user base, while mainstream fashion players such as Uniqlo, Mango and Tommy Hilfiger are following the lead of haute couture houses such as DKNY in tapping into the modest fashion market.
Islamic Digital Economy:
A new frontier in the Islamic economy is its digital component. This segment has woven itself into the lives of many Muslims worldwide as an integral part of their lifestyle. From Qur’an and halal travel mobile apps to online Islamic education services and tools for locating the nearest halal restaurants, the Islamic Digital Economy has emerged as a high growth segment. Success stories include Zabihah. com, a leading location-based guide to halal restaurants and markets with a digital reach of 10 million unique users, MuslimPro, a prayer, and the ‘qibla’ tracking mobile app with over 10 million Android downloads in 16 different languages.
The indicator is a composite index that presents the current outlook of the Islamic economy sectors across 70 countries beyond the growth of its assets.
Pharmaceuticals & Cosmetics: This
sector offers several success stories and opportunities for growth. The halal cosmetics sector in particular is growing quickly in the Asia Pacific through smaller brands, forcing large companies such as Unilever to start looking at halal cosmetics to ensure they maintain their strong presence in this region. South East Asia is leading the development of halal vaccinations for meningitis, hepatitis and meningococcal for Hajj pilgrims.
Gulf Insider September 2015
27
Affairs
a Tale of TWO
Soldiers
British officer who lived among the Afghans and led his warriors to victory over the Taliban wins medal second only to the VC.
Captain Owen Davis,25 of the Royal Marines immersed himself in Afghan culture, growing a beard, wearing a neck-scarf and learning to speak Pashto
British Royal Marines Officer
A
Royal Marines officer who spent a year training and fighting alongside Afghan tribesmen has been honoured for inspiring a local resistance to the Taliban – drawing comparisons with Lawrence of Arabia. Captain Owen Davis, 25, who 28
Gulf Insider September 2015
immersed himself in the culture and lifestyle of villagers in southern Afghanistan, has won the Conspicuous Gallantry Cross (CGC), Britain’s secondhighest battlefield honour. Since the UK-led campaign in Helmand Province began seven years ago, hundreds of British officers have
attempted to mentor Afghan personnel, with varying success. Few have gone to the lengths of Captain Davis, who spent every day and night with a 25-man unit of Afghan Local Police (ALP), cooking and eating with them, learning their language and gaining their trust. Captain Davis has been credited with turning the hope for a functioning ALP force into a reality in Helmand’s strategically significant district of Nahr-e Saraj. So successful was his influence that his commanders tore up the cultural advisors’ rulebook and granted Davis ‘artistic licence’ to live as an Afghan. With a wispy beard hanging six inches from his jaw and a traditional black Afghan scarf wrapped around his neck, by day Davis led the local policemen on patrol missions and firefights with rebel insurgents. In order to gain their trust completely, he also lived, ate, and slept with them, becoming so fluent in their Pashto language that he could participate in traditional night-time poetry recitals. The CGC – second only to the VC as a gallantry award – is intended to recognise his willingness to remain so perilously exposed for so long, and his bravery when confronted by the enemy. Now his feats have attracted comparisons with T.E. Lawrence, the British officer who inspired the Arab revolt against Turkish Ottoman forces in Northern Africa during the First World War. Davis said: ‘My job was to go into areas where we didn’t have a lot of knowledge, to speak to the villagers and to train the local police officers. ‘In these areas allegiances could change in a moment, everyone knew somebody in the Taliban. I would lead these Afghan elements in engagements against the insurgents.’ He added: ‘Sharing a bed with the Afghans wasn’t the done thing, nobody else was doing that. I suppose I went a bit bush, especially with the really horrible beard. ‘Fluency in Pashto was really important as I would have lost a lot of the wit and banter without that. ‘We were getting attacked by the
Affairs
Taliban every day. Then in the evening we’d prepare food together and recite poetry. ‘The Pashtuns have a history of great poets. We’d listen to this verse, which is often set to dreadful disco beats, until about midnight then fall asleep together on mattresses or these wicker beds outside, gazing at the stars. ‘We’d tell jokes too. They had a good sense of humour, a lot of slapstick. If somebody fell over they’d burst out laughing. Davis’s friendships with his Afghans were tested to the extreme on June 13 last year when the ALP joined soldiers from the Grenadier Guards on an operation to capture a Taliban sniper – a mission which cost the life of Lance Corporal James Ashworth, who was later awarded the VC. Davis recalled: ‘Me and the Afghans knew there was enemy inside the compound so we pushed in. ‘The guy with me was cut down pretty much straight away, killed after taking a burst of 15 to 20 rounds. He was touching distance from me. ‘As I moved forward to drag him out a grenade rolled around the corner. I jumped over a wall, landing upside down in a ditch. The guy who died was in his late 20s and was someone I was very close to. So I was really, really sad. Losing a close colleague is the worst feeling in the world.’ On a follow-up assault, L/Cpl Ashworth was killed trying to post a grenade through the window of a Taliban mud hut. Davis cleared the remaining enemy from the building and rescued another British casualty. Now he is leaving the Marines to retrain as a doctor, and is hoping to work with medical charities in Africa. But Afghanistan will forever be in his heart. ‘My hope is that we’ve done enough in terms of security to allow the Afghans to be educated, because that is how the next generation will build their country. Former British commander in Afghanistan, Colonel Richard Kemp, said: ‘Men of Davis’s calibre are most rare, even in the Royal Marines.’
US Airforce Female Officer ‘With 225 rounds of ammo strapped to my chest, I looked tougher than I felt’: Female officer on how service in Afghanistan took an emotional toll.
B
efore service in Afghanistan Lauren Kay Johnson, a lieutenant in the U.S. Air Force, said she was a fun-loving woman who would organize potluck and karaoke nights for friends. But when she returned from her nine month-deployment, the Seattle native struggled to get to grips with civilian life as the memories of war haunted her. ‘Wearing my bulletproof vest and helmet, carrying an M4 rifle and M9 pistol, with 225 rounds of ammunition strapped to my chest, I looked much tougher than I felt,’ she recounted. Limited internet and phone service added to her feelings of vulnerability as did the fact she was a woman in predominantly a man’s world. The pretty brunette said that sexual assault a constant worry for her on the front line, because she ‘knew the stories’ and ‘overheard vulgar talk.’ It was only when she returned home to her Florida Air Force base that she realized how her stint in Afghanistan had affected her. Recalling her state of mind, she writes: ‘Nearly every night I get takeout from the same place. I’m too tired to cool and too antisocial to spend any more time in a restaurant than it takes to pay.’ She also found getting to sleep on her quiet army base an ‘extreme problem’, as she missed the white noise of war. The lack of ‘helicopters,’ ‘rumbling armored vehicles’ and ‘chatting smokers on break’, she said, made for an ‘unsettling peace’. And back at her desk job as a public
Lauren Kay Johnson, 30, who spent nine months deployed to Afghanistan, has told how the experience left her psychologically scarred and she’s still struggling in civilian life three years on
affairs officer, she found it difficult to maintain focus because ‘everything seemed trivial’ in light of what she’d been through. In a bid to get back to her old self, Miss Johnson sought therapy at the mental health clinic on her Air Force base, frequented by many of her comrades. She was eventually diagnosed with chronic adjustment disorder - a milder form of post-traumatic stress disorder. On her blog UNcamouflaged.com she explains that she made it her New Year’s resolution to discover who ‘civilian Lauren’ is. ‘With a massive life change (and no uniform to wear every day, no institutionalized code of conduct, etc.) comes a bit of an identity crisis. Despite her best efforts Miss Johnson, who is currently pursuing an MFA in non-fiction writing, says that she is still not healed. ‘It’s a process I’m still going through . . . I’m still reconciling the old and new versions of myself . . . I don’t yet feel settled.’ However, she adds that she’s at least happy and settled in a relationship with a fellow Afghanistan veteran, Colin Halloran. The two are set to get married in July 2014. She concludes on her blog: ‘Like it or not, my military service will always be a part of me. I can’t - and shouldn’t - shut it out.’ Gulf Insider September 2015
29
Off Topic
IT DIDN’T ALWAYS SUCK TO BE A
WOMAN IN AFGHANISTAN
Mothers and children playing at a city park—without male chaperones A record store in Kabul
W
omen in Afghanistan were not always forbidden by law to leave their homes unchaperoned by a male relative. In pre-Taliban days Afghan women had access to professional careers, universitylevel education, public transportation, and public spaces, all of which they happily navigated freely and without supervision. Women received the right to vote in the 1920s and, the Afghan constitution provided for equality for women. By the early 1990s, 70% of schoolteachers, 50% of government workers and university students, and 40% of doctors in Kabul were women. Today, all of the women shown in these photographs, taken in the ‘60s and early ‘70s, could be found guilty of improper behavior, by clerics and government officials.
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Gulf Insider September 2015
University students, early 1970s
The multi-award winning Arabian magazine
PLAY for WORK see page 10
The Arabian Review
Issue 128
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News
GULF ROUNDUP news around the GCC and beyond
life in the gulf
Construction of Qatar World Cup stadium to start this month Construction of a giant 60,000 seat World Cup stadium north of Qatar’s capital Doha, is to begin in September, the committee in charge of the Gulf state’s hosting of the global football tournament has said. Construction on a development that will house 2,700 workers is already underway. With a total area of around 11,600 square kilometers, Qatar will be the smallest country to host the World Cup. Most of its surface area is uninhabited desert, with the sprawling capital Doha home to much of its population. Consequently, fans from the 32 competing nations will be staying within a relatively small area, which may give tournament organizers security and logistical headaches. – Al Arabiya News
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Gulf Insider September 2015
Emirati’s dream of luxury hotel for pets Afra Al Dhaheri, founder of Cloud 9 Pet Hotel and Care, the first luxury pet hotel in the UAE, says she has always been a passionate advocate for animal welfare and wants to create opportunities for change in the treatment of animals in the UAE. Moreover, being an animal lover herself, it only felt natural for her to create something that solidifies her own vision. Opened in 2012, her luxurious pet hotel offers various facilities and services for pets staying in the hotel, including veterinary care, training, boarding and grooming. “We are a facility where pets will be taken care of and made to feel like they are at home, even when their owners are away. We are also committed to creating a culture that respects and cares for animals, while educating the community about the importance of animal rights and animal welfare.” – Khaleej Times
55 new WiFi-enabled parks and gardens planned for Qatar Qatar residents should soon be able to enjoy more than 50 new green spaces in different parts of the country, a senior official at the Ministry of Municipality and Urban Plannin has reportedly said. Mohamed Ali Al-Khuri, director of the public gardens department, didn’t specify a timeline for the opening of the parks. The official added that the government has been working to respond to the needs of park-goers by upgrading facilities at several existing parks. IctQatar has long provided free WiFi in several parks around Qatar; the service is a selling point for many residents who wish to spend time outdoors but want to remain in touch with their friends and family. – Doha News
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News
Arrival procedures for pilgrims eased at KAIA Officials at Jeddah’s King Abdulaziz International Airport (KAIA) have devised a new strategy that takes only 45 minutes for a pilgrim to complete all arrival formalities. Airport officials have implemented an integrated plan to best serve the pilgrims in cooperation with government departments and the involvement of the private sector. The new process reduces the amount of time that pilgrims spend to complete formalities from 3 to 4 hours in the past to 45 minutes now. – Saudi Gazette
Roaming Rates to Fall International roaming rates between Bahrain and other GCC countries will drop next year as announced in cabinet recently. The reduction in rates will apply to roaming services, voice calls, SMS, and data services. “The decision is in line with the GCC post and telecommunications committee’s decision to reduce Arabian Gulf roaming rates from 2016,” said Cabinet secretary-general Dr. Yasser Al Nasser. – GDN
Tamkeen Supports the Careers of Bahraini Youth Tamkeen, in partnership with the General Organisation for Youth and Sports (GOYS), launched a student exhibition as part of “Molhem”, a unique programme offering youth career training through a series of workshops. The programme, part of Youth City 2030 initiative, aims to educate, train and equip the Bahraini youth with the practical skills needed to prepare them to join the labour market. During the Exhibition, students participating in the programme presented their projects that covered the various sectors that are vital to Bahrain’s economy. The students were
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guided and trained by veterans and experts in business and entrepreneurship. The programme is open to high school students between the ages of 16-18 year olds and hosts a series of courses highlighting essentials to assist students in selecting a career path while educating them about Bahrain’s market. The courses emphasise education about entrepreneurial culture, launching commercial enterprises and self-development in the workplace.
News
Dubai, Kuwait City among most improved in global liveability list Dubai and Kuwait City were both ranked in the top five most improved cities to live in according to a new study by the Economist Intelligence Unit, with Dubai third behind Harare, Zimbabwe, and Kathmandu, Nepal. But the improvement for the gulf cities in the Liveability Ranking and Overview August 2015 report failed to see either making an impact on the overall global ranking. Dubai moved up to 75th out of 140 cities covered while Kuwait City ranked 83rd. – Arabian News
US approves $150m deal for Bahrain F-16 support The US government it’s approved a possible sale of USD150 million worth of equipment to Bahrain to maintain its fleet of Lockheed Martin Corp F-16 fighter jets. The Pentagon’s Defense Security Cooperation Agency, which oversees foreign arms sales, told lawmakers that the Bahraini government had requested equipment for support and communications, ammunition and spare parts valued at $150 million. – Trade Arabia
Bahrain toughens anti-hoax bomb measures
More than 80% of Dubai Residents Faced Maintenance Issues during H1 2015 An online survey was conducted about maintenance issues faced by Dubai residents, in partnership with Imdaad, a leading provider of Integrated Facilities and Waste Management solutions in the GCC, in order to understand the quality of Dubai’s homes. The survey, carried out with 150 Dubai residents, found that 83% of the respondents faced at least one maintenance issue in their home in the first half of 2015. According to the results, nearly 50% of Dubai households - 40% of apartment building tenants and 70% of villa residents - experienced problems with their air conditioning units - which makes it the biggest maintenance issue in Dubai. Other frequent maintenance issues are related to sewage, electrical problems, thin walls and defective water heaters. Moreover, bursting water pipes appear to be a grave complication, especially in villas, with 24% of villa residents claiming to have faced this issue.
The Director of Legal Affairs at Bahrain’s Interior Ministry has denied media reports that the government was planning to repeal a law that criminalises the planting of hoax bombs. In fact, he said the government has asked for a toughening of the law in line with the other criminal acts under the antiterrorism law. “Planting a hoax bomb is currently a crime under both the penal code and the antiterrorism law, but the antiterrorism law carries a stiffer penalty. The directorate has recommended that the act of planting a fake bomb be considered only under the antiterrorism law, which carries a sentence of up to 15 years, instead of the more lenient penal code, which carries a jail term or fine or both,” he said. The director added that the state does not tolerate acts that target the security of Bahrain, “especially those that attempt to create fear among the people.” – Gulf News
Gulf Insider September 2015
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Travel
The World’s Longest Flight:
DXB – PTY
Launching in February, Emirates new and longest non-stop route from Dubai to Panama City provides convenient connections to Central America.
B
oth a vibrant metropolis and gateway to tropical destinations, Panama City is also the economic and financial centre of the country. Ideally located between North and South America, as well as the Atlantic and Pacific Oceans, Panama City has developed an unrivalled transportation and communication network. It operates two of the busiest ports in Latin America, including the Colon Free Trade Zone - the world’s second largest free trade zone. Additionally, the ongoing expansion of the Panama Canal has helped contribute to Panama’s economic growth in recent years. “Panama City will be our first destination gateway in Central America, providing a convenient option for our passengers travelling from or through Dubai and onward to destinations throughout Central America, the Caribbean and the northern part of South America,” said HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief
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“We’re also pleased to be the only commercial airline to offer a daily, First Class service to travellers on what will be the world’s longest non-stop flight.” Executive of Emirates Airline & Group. “We’re also pleased to be the only commercial airline to offer a daily, First Class service to travellers on what will be the world’s longest non-stop flight.” Service to Panama’s capital and largest city by population, will commence with a daily flight operated by a Boeing
777-200LR aircraft in a 3-class layout - 8 in First, 42 in Business, and 216 in Economy. “New doors to the country will open with a direct connection to the Middle East - a strong and thriving region with great synergies to both Panama and Latin America,” said Isabel Saint Malo de Alvarado, Vice President of the Republic of Panama. “This link will generate a broader global network with countless commercial and cultural opportunities for the two regions,” explained Eduardo Fonseca Ward, Consul General of the Republic of Panama, in Dubai. Later this year, Emirates will be adding four more routes to its global network including Mashhad, Iran; Orlando; Bamako, Mali and Bologna, Italy.
Service to Panama City will begin in February 2016 and operate through Tocumen International Airport (PTY). Tickets for are now available for purchase via Emirates.com.
Advertorial
high Tea
Life
Noor Lounge at The Intercontinental Regency offers the perfect setting for afternoon tea with friends, family or clients.
Suaad Mohd - www.askthestylecouncil.com
E
scape the mundane setting at the office and invite business clients and friends over to Noor Lounge for a sophisticated cup of tea and snacks instead. A few steps away from the front lobby, the softly-lit lounge provides abundant seating with mellow coloured sofas, dark leather chairs, beautiful mirrored columns, paired with the finest teal and golden wallpaper. The exquisite décor blended with soothing music and fresh roses at every table allows the mind to tune out the chaotic noises of traffic or ringing phones, giving a more a suitable atmosphere to share your thoughts in. Open from noon to 10 p.m. every day, Noor Lounge’s service typically offers a freshly brewed pot of tea along with sweet and savoury snacks and pastries plated in a beautiful three-tier platter. Crumbly from the outside and soft inside, scones served with fresh
The grand white piano placed at the center of the lounge can’t be missed and is possibly the prime element that adds a final touch to the ambience. double cream and lightly sweetened jam are a favourite amongst visitors. Other delicious snacks include fine chocolates, macaroons, mini-wraps and bite-sized
cold sandwiches. You may choose from an array of tea blends or coffee for your pot serving or a refreshing cold drink. Pianist Sona Vardanian creates a further comforting environment playing lovely tunes between 3 p.m. and 8:30 p.m. The grand white piano placed at the center of the lounge can’t be missed and is possibly the prime element that adds a final touch to the ambience. It’s the quietest around noon since there aren’t many visitors or distractions, an ideal time for a business meeting in the five-star hotel. Though, you can head out with your friends at a later hour for some pleasant catching-up and socializing. Whatever the time of day, alone or with colleagues, a visit to Noor Lounge provides an elegant experience for all.
Afternoon Tea at Noor Lounge is BD 9++ per person. Gulf Insider September 2015
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Life
The Problem Isn’t That
Life Is Unfair … It’s That You Don’t Know The Rules. By Oliver Emberton
T
he truth is, life is just playing by different rules. The real rules are there. They actually make sense. But they’re a bit more complicated, and a lot less comfortable, which is why most people never manage to learn them. Let’s try.
Rule 1: Life is a competition - That
business you work for? Someone’s trying to kill it. That job you like? Someone would love to replace you with a computer program. That girlfriend / boyfriend / high-paying job / Nobel Prize that you want? So does somebody else. We’re all in competition, although we prefer not to realise it. Most achievements are only notable relative to others. You can dance better, or got more Facebook Likes than the average. Well done. It’s a painful thing to believe, of course, which is why we’re constantly assuring each other the opposite. Fortunately, we don’t live in a world where everyone has to kill each other to prosper. The blessing of modern civilization is there’s abundant opportunities, and enough for us all to get by, even if we don’t compete directly. But never fall for the collective delusion that there’s not a competition going on. People dress up to win partners.
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They interview to win jobs. If you deny that competition exists, you’re just losing. Everything in demand is on a competitive scale. And the best is only available to those who are willing to truly fight for it.
Rule 2: You’re judged by what you do, not what you think - Society judges
people by what they can do for others. Can you save children from a burning house, or remove a tumor, or make a room of strangers laugh? You’ve got value right there. That’s not how we judge ourselves though. We judge ourselves by our thoughts. “I’m a good person.” “I’m ambitious.” “I’m better than this.” These idle impulses
Life
may comfort us at night, but they’re not how the world sees us. They’re not even how we see other people. Well-meaning intentions don’t matter. An internal sense of honour and love and duty count for squat. What exactly can you and have you done for the world? Abilities are not prized by their virtue. Whatever admiration society awards us, comes from the selfish perspectives of others. A hard working janitor is less rewarded by society than a ruthless stockbroker. A cancer researcher is rewarded less than a supermodel. Why? Because those abilities are rarer and impact more people. We like to like to think that society rewards those who do the best work. But in reality, social
We like to like to think that society rewards those who do the best work. But in reality, social reward is just a network effect. Reward comes down mostly to the number of people you impact. reward is just a network effect. Reward comes down mostly to the number of people you impact. Unfortunately, the same rule applies to all talents, even unsavory ones. You may hate this. It may make you sick. Reality doesn’t care. You’re judged by what you have the ability to do, and the volume of people you can impact.
Rule 3: Our idea of fairness is self interest - We have an innate sense of
right and wrong, and we expect the world to comply. But reality is indifferent. You studied hard, but you failed the exam. You worked hard, but you didn’t
get promoted. You love her, but she won’t return your calls. The problem isn’t that life is unfair; it’s your broken idea of fairness. Take a proper look at that person you fancy but didn’t fancy you back. That’s a complete person. A person with years of experience being someone completely different to you and who interacts with thousands of other people every year. Now what are the odds that among all that, you’re automatically their first pick for love-of-their-life? Because — what — you exist? Because you feel something for them? That might matter to you, but their decision is not about you. Similarly we love to hate our bosses and parents and politicians. Their judgements are unfair. And stupid. Because they don’t agree with me! And they should! Because I am unquestionably the greatest authority on everything ever in the whole world! It’s true there are some truly awful authority figures. But they’re not all evil, self-serving monsters trying to line their own pockets and savor your misery. Most are just trying to do their best, under different circumstances to your own. Maybe they know things you don’t — like, say, your company will go bust if they don’t do something unpopular. Maybe they have different priorities to you — like, say, long-term growth over short-term happiness. But however they make you feel, the actions of others are not some cosmic judgement on your being.
Why life isn’t fair - Our idea of fairness
isn’t actually obtainable. It’s really just a cloak for wishful thinking. Can you imagine how insane life would be if it actually was “fair” to everyone? Noone could fancy anyone who wasn’t the love of their life, for fear of breaking a heart. Companies would only fail if everyone who worked for them was evil. Relationships would only end when both partners died simultaneously. Raindrops would only fall on bad people. Most of us get so hung up on how we think the world should work that we can’t see how it does. But facing that reality might just be the key to unlocking your understanding of the world, and with it, all of your potential.
Gulf Insider September 2015
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Life
23
o. N e l i f o r P Insider
Ali ‘Fingerz’ Esbai Bahraini standup comedian, debt collector, Capoeirista and founder of Misfitz, a sketch comedy group.
W
hen did you discover your passion for standup comedy? Who or what inspired you? As a child I partook in theatre activities at Salman Cultural Centre and began garnering acting skills since. My family always supports me in whatever I pursue, which I believe is a crucial factor for everyone; you shouldn’t break the will of an individual who strives to try something different. I began with low-scale, local gigs and got an opportunity in 2007 to open for Omid Djalili, a British-Iranian standup comedian (featured in many movies including The Mummy, 1999). I did a spontaneous skit to warm up the audience before he took over. Omid was impressed and spoke to me later. He sensed an energetic talent and motivated me to study and pursue standup. “Watch comedy to learn, and not to laugh,” He instructed, “Pause and think why you’re laughing at what’s being said and done.” Two of your roles; one as a debt collector and second as a comedian are quite diverse. Do you find it difficult to balance the two? I embrace both roles and can’t separate them. I enjoy banking and comedy, they complement each other. Previously at the bank, through the experience of working in sales I learned how to sell my comedy. Now that I’m in collections, I’ve learned how to ‘make sure I get paid for the comedy gigs’. In fact, it’s easier for me to break the ice when meeting frustrated clients with unpaid 40
Gulf Insider September 2015
bills. I come across a lot of sad people as a debt collector and the comedian in me will usually lighten up their day. Tell us a bit about MisFitz and the business involved. Misfitz is a sketch comedy group and creative platform of talented individuals. We began by introducing short comedy sketches on Instagram where we strive to deliver a funny story within 15 seconds. Our most popular skit “Wain El Hindi?” was a cheeky short highlighting racism and received 350,000 views across the GCC. It was re-posted and pushed by the movers and shakers of the social media comedy scene in the region. We are still amateurs at filmmaking, but we aim to become a solid film crew through extensive research and application. Additionally, Misfitz also offers commercial writing, standup gigs, voiceovers and scriptwriting for companies and events; we basically seize any learning opportunity that comes our way. You are dedicated to your day job, comedy and Capoeira training (a Brazilian martial art). How do you manage all three and what is your greatest fear? I feel like a juggler most of the time, three hours of sleep and lots of coffee keeps me going. But I fear I’ll get tired one day and just give up. I’m also very close to my family and can never sacrifice them for work. It’s a dilemma and I know I’ll have to make a choice down the road. Favourite standup comedian: Richard Pryor, the king of comedy. Favourite life quote: “Keep on keeping on.”
Follow Ali and team on @misfitz.comedy and @alifingerz
The Best of Bahrain Guide to Dining, Nightlife, Entertainments The Best of Bahrain Guide to Dining, Nightlife, Entertainments
Issue 05 - September 2015
We do not try to include all places, just the best places.
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Not to be Missed Romantic Dining Friday Brunches (improved) Ladies Nights (improved) Clubs & Associations
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Cover Image: Four Seasons Hotel, Bahrain Bay
Bahrain101, reveals the best in dining, nightlife, and events in Bahrain.
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The Best of Bahrain
Life
10 Books
That Changed History A selection of 10 historically groundbreaking books on philosophy, politics, economics, tactics, and liberty – that changed the world.
“The Analects of Confucius” By Confucius Believed to have been written sometime between 475 and 221 B.C. Also known as simply “Analects” or “Lunyu,” this book is the collection of sayings and ideas attributed to the Chinese philosopher Confucius on how to live a virtuous life and be kind — what he referred to as ren. “The Analects” continues to have a profound influence on Eastern philosophy and ethics, especially in China.
“Aesop’s Fables” By Aesop Believed to have originated between 620 and 560 B.C. “Aesop’s Fables” is a collection of stories that are meant to teach the listener a life lesson. The fables are often credited to an ancient Greek slave and storyteller named Aesop (though the origin of the fables remains disputed). The stories are still important moral lessons and have had a far-reaching impact on literature and common sayings, including “wolf in sheep’s clothing,” “boy who cried wolf,” “goose that laid the golden eggs,” and many others.
“The Art of War” By Sun Tzu Written sometime between 600 and 500 B.C. “The Art of War” is an ancient Chinese military treatise attributed to Sun Tzu, a military general, strategist, and tactician. It is written in 13 chapters, each devoted to an aspect of warfare like spies, quick thinking, and avoiding massacres and atrocities. The book still has an influence on Eastern and Western military thinking, business tactics, legal strategy, and sports for its lessons on how to outsmart one’s opponent.
“Essays” By Michel de Montaigne Published in 1580. Ralph Waldo Emerson, Friedrich Nietzsche, JeanJacques Rousseau, and numerous other great thinkers of the world were all influenced by Motaigne’s massive collection of influential essays. The French statesman and writer’s ability to blend serious moral questions with casual anecdotes was at the time derided for being “self indulgent” but is nowadays regarded as some of the most important literature to come out of the French Renaissance. 42
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Life
“The Rights of Man” By Thomas Paine
“On Liberty” By John Stuart Mill Published in 1859. What was intended to be a short essay by the British philosopher Mill became one of the most famous books about the utilitarianism of society and the state. Mill emphasized the importance of individuality as well as independence from the government. “On Liberty” continues to have a major influence on political science and philosophy, and its questions about the nature of individual liberty in a democratic society remain just as pressing and important.
Published in 1791. Paine argues in “The Rights of Man” that popular political revolution is permissible when a government does not safeguard its people or their natural rights, and he thought the best way to stop poverty was through interventionist programs like welfare and old-age pensions.
“Tao Te Ching” By Lao Tzu Written between 600 and 400 B.C. Laozi or Lao Tzu (“Old Master”), a record-keeper at the Zhou Dynasty court, is believed to have written this philosophical text about living life simplistically and working for the greater good. Not only is “Tao Te Ching” fundamental to Taoism, but it also has strong ties to Confucianism, Chinese Buddhism, and Chinese popular culture in general.
“The Wealth of Nations” By Adam Smith Published in 1776. This economic theory book argues the benefits of the free market. Many of Smith’s ideas — like the “invisible hand,” division of labor, and a self-regulating market — can still be found in our society. The first edition sold out in six months and can be seen shaping government policies as soon as it was published. Today, Smith’s work is fundamental in classical economics.
“The Republic” By Plato First published in about 380 B.C. “The Republic” is written as a Socratic dialogue (in question and answer form). The most famous section is Plato’s Allegory of the Cave, in which he discusses the effect of education and the role of the philosopher. It continues to be one of the most intellectually influential works of philosophy and political theory, with themes on the definition of justice, the character of a just government, and what makes a good man.
“1984” By George Orwell Published in 1949. Written about a dystopian world nearly 40 years after World War II, the book follows protagonist Winston Smith as he tries to escape the censorship, propaganda, and oppressive government of his futuristic society. Orwell’s book was highly influential on the English language, introducing concepts like Big Brother, doublethink, Newspeak, and the Thought Police, among many others.
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Motors
Arab playboys in London
A valet helps a young Kuwaiti get out of his Lamborghini Aventor in Knightsbridge. He one of a clique of super-rich Arabs who spend the summer months in London
Inside the VERY lavish lifestyles of Arab playboys during the ‘London season’. Teams of 250 staff to fly supercars and ‘car-bodyguards’ to look after them. 44
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T
heir souped-up supercars have become an annual feature on the streets of London, when the ‘summer season’ is marked with Ferraris outside Harrods and Masaratis in front of the Dorchester hotel. But aside from their love of fast cars and expensive boutiques, little is known about the lives of the incredibly rich Arabs who frequent London’s most exclusive districts every year. But one of the men who helps organise the annual influx of the Middle
Getty Images
East’s most wealthy has now lifted the lid on their eye-watering spending. Michael Shaw, whose company Franklin organises homes and staff for the world’s elite, says his clients spend heavily on making sure their beloved vehicles arrive in pristine condition, their outrageous property demands and the army of domestic staff who rush around them. The carnival of colourful cars parading down Knightsbridge and around Sloane Square has become a tourist attraction in itself in recent summers, with visitors
Motors
Young millionaires from the Middle East hit the capital’s upmarket western districts for the ‘summer season’
Image: SWNS.com
Some of those who come to Britain pay £40,000-a-time to have their cars loaded on to a cargo plane
to the capital spending as much time photographing the outlandish vehicles as they do shopping for souvenirs. But the appearance of the sportscars is the result of months of planning and work on behalf of huge teams of staff. Mr Shaw says some of his clients book their vehicle on to a ship weeks before they plan to arrive, while others Image: SWNS.com
Some are flown via Italy, where they are ‘returned to showroom condition’ by specialist workshops
The Saudi owner of this $1.5million Porsche had a specialist team come to his central London hotel to clean it
are happy to spend £40,000 to have the vehicle packed up and put on a cargo plane. He said: ‘We have clients all around the world, but those from the Middle East tend to come to London not just because it’s so hot over there, but because they want to spend time around and be seen in London’s amazing array of restaurants and hotels. ‘Having an expensive car is the ultimate status symbol and that’s why our clients want to bring them over here. Mr Shaw’s company also organises the garish bodywork and paint-jobs which make the cars stand out. He added: ‘We had one client who wanted his Lamborghini gold plated, and not just painted gold, but really, goldplated. The work ended up coming to around five times the original value of the car. ‘Some have homes in Italy with Gulf Insider September 2015
Image: SWNS.com
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garages of classic cars and supercars, who fly them in from there. There is also a workshop there which offers £7,000 detailing jobs, using infra-red light to remove every little scratch and return to car to its original showroom condition.’ Not all of the cars are flown in however. Some of those arriving in London hire the vehicles at huge cost from specialist car hire firms. A Ferrari 430 Spider can be rented for around £600-a-day, while a Lamborghini Aventador costs an astonishing £2,000 for just 24 hours. As well as the cost of flying their
The cars, like this one outside Harrods, spend their days ferrying their owners between shops and cafes
The carefully-tended cars sit outside their owner’s hotels overnight, like these outside the Dorchester Image: Matthew Chattle
Mr Shaw says some of his clients book their vehicle on to a ship weeks before they plan to arrive, while others are happy to spend £40,000 to have the vehicle packed up and put on a cargo plane. Mr Shaw said the wealthy Arabs choose London because of its luxury hotels, restaurants and boutiques 46
Gulf Insider September 2015
Image: SWNS.com
Motors
cars in or hiring them, coupled with the fees of a high-security garage, many foreign billionaires employ a personal ‘chaperone’ for their vehicles, to make sure nobody touches them while they are parked on the streets of Mayfair and Chelsea. The bizarre role is one of scores of positions filled by Mr Shaw to ensure his clients have an easy a holiday as possible. Mr Shaw says he has seen some shoppers spend £50,000 in ten minutes while shopping for jewellery and watches. Harrods has also become a focal point since it was taken over to Qatari owners and is now a meeting place for many young men from the country. Mr Shaw revealed: ‘On returning home from London after the summer, one Middle Eastern family proceeded to have a £7,000 monthly order of food flown by air from Harrods to home.’
Image: James Gourley
Getty Images
A youngster admires a metallic Lamboghini Aventdor parked near Hyde Park, one of the incredible array of cars on show One of the most stunning machines spotted this summer has been a Mercedes S-Class which have been covered in Swarovski crystals
But while their owners enjoy the high-life in the capital’s best venues, their cars have become a tourist attraction in themselves
Getty Images
Gulf Insider September 2015
Getty Images
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Motors CAR insider
Porsche Macan Turbo Nick Cooksey spends a few days with the fastest Macan on the market…
T
he Macan is based on the Audi Q5, though with a lower roof, and The Macan Turbo is the quickest and sportiest version of the Macan sports crossover range. Dynamically it’s ahead of the Audi Q5. It can achieve zero – 100kph in 4.2 seconds (the Audi SQ5 takes 5.2
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seconds). There’s no crossover that even comes close to this. I very much enjoyed my couple of days driving this car. I found the raised driving position – high but not too high, combined with sports car performance to my liking. Depending on your perspective, the
Macan either looks like a scaled down Cayenne or a pregnant 911, and it doesn’t come cheap. And the Turbo costs a third of the price again compared with the ‘standard’ Macan S. Despite this big increase in price it looks almost identical. The only really noticeable differences are that the Turbo
Motors
Starting Price: BD 36,500 has bi-xenon headlamps, LED fog lights, staggered-width 19-inch wheels, and squared-off quad tailpipes... oh, and of course a Turbo badge. Inside, in addition to the usual abundance of leather and quality materials there’s lots of buttons all over the dash and console which can look a bit confusing, but which all make perfect sense once you know what’s what. There’s a contoured three-spoke multifunction steering wheel with proper paddle shifters which is the same as that on the 918 Spyder. The twin ¬turbocharged 3.6-liter 400 bhp V-6 is from the Panamera. It has a
I very much enjoyed my couple of days driving this car. I found the raised driving position – high but not too high, combined with sports car performance to my liking.
four wheel drive, seven-speed dualclutch PDK transmission. There’s all sorts of additional options you can go for. A tip for anyone buying – don’t go for the 21-inch wheel/tire package. While it looks good it makes for a less comfortable and noisier ride. They also cost an extra $3,300 and you will also have to pay out more money every time you change the tires.
To arrange a test drive in Bahrain contact Porsche Centre Bahrain on +973 1745 9911.
Price Comparison Porsche Cayenne Turbo From BHD 53,500 Audi Q5 Turbo From BHD 17,420
Range Rover Sport From BHD 45,000
The author of this article, Nick Cooksey, in addition to being publisher of Arabian Magazines and Gulf Insider Media, is a jury panel member of the Middle East Motor Awards. Gulf Insider September 2015
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The world’s first
luxury yacht for WOMEN
L
uxury designer Lidia Bersani has created the first luxury mega yacht with a female in mind. The sleek white and gold yacht is designed using crystal, gold, fur and flowers. It is named La Belle, which translates as ‘the beauty’. The master cabin is lavish with a round king size double bed and baldachin and its own terrace offering panoramic views The 80-metre superyacht also features opulent gold mosaics, mother of pearl, Swarovski crystal chandeliers,
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gemstones, onyx and bespoke wooden furniture. Its design revolves around soft edges, smooth lines, floral patterns and a large amount of glass, crystal and bright white. Lidia Bersani’s website says of La Belle: ‘[The] Yacht is in distinctive Bersani Style, romantic and warm. The colors in white, ivory and gold are predominant. Interior is full of opulent and comfortable elements.’ The vessel could comfortably sleep 12 guests in six deluxe cabins.
The master cabin on the second deck has a round king size double bed and baldachin (a canopy that traditionally sits over a throne or tomb of someone important), private terrace, thick curtains, gold touches and floral carpeting. There are five other guest suites spread around the boat. The yacht has lounges, dining places, facilities for live music, a spa with hyrdromassage pool, sauna, hamman, infrared sauna, snow room and ice fountains; small fitness club with outdoor Jacuzzi; library with fireplace; beauty centre, disco club, cinema – theatre, as well as a few bars. ‘The idea is to equip this Super Yacht with ultra-modern stabilizing system and state of the art machinery and equipment,’ says Lidia Bersani Luxury Design. Each of the five decks has an outside area for relaxing, sun bathing and looking out to sea. There’s a lift as well as staircase to take you in between them. A helicopter landing pad sits on top of the vessel. And in the designs mocked up by Ms Bersani, a gold helicopter sits in board. Of the price, Ms Bersani says; ‘Unfortunately we do not have yet the final price. The idea is to build the most luxurious yacht in the world, and the golden decorations, Swarovski crystals, and some precious stones which we would like to use, it will be not cheap, I am sure.’
Style
Marquetry Gift Box for Him & Her
Dominos Case
Amouage expresses its superior design capabilities and fine workmanship in its Leather Goods Collection.
for Him
PRICE: BD 295
Amouage
Luxury Gift Guide for Eid
The boxes are made from a combination of woods which have been lacquered nine times to achieve a high gloss finish. With a delicate butterfly design for women and a unique geometric design for men, the suedette-lined boxes are keepsakes that customers can cherish and use for a lifetime. The men’s sets include 100ml fragrance and 300ml shower gel. The women’s includes a bottle of 300ml body lotion and 100ml Extrait de Parfum. Both sets are available in Amouage’s most popular fragrances Jubilation, Lyric, Epic, Memoir, Honour, Interlude, and Fate for Him and Her.
PRICE: Epic Ladies BD 122 Epic Mens BD 108
for HER
The perfect picks for him and her from Amouage’s Fine Fragrance and Leather Goods Collections, on the occasion of Eid Al Adha this month.
Continental Wallet
The snakeskin leather goods comprises a contemporary variety of products from wallets, iPad sleeves and passport cases to totes and cosmetic bags. All products are hand-made of the highest quality using top grade leather and exotic skins by artisans whose skills have been passed down throughout many generations. PRICE: BD 230
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Art
The most beautiful mosques in the world Blue Mosque, Istanbul, Turkey Majestic, magnificent and utterly beguiling, the Blue Mosque has six needlelike minarets that form an essential part of Istanbul’s skyline, and is an unmissable part of any break to the city. Terry Richardson, Telegraph Travel’s Istanbul expert, describes how the “interior gleams with the famous blue Iznik tiles from which its name derives.” It was built under the reign of the Ottoman ruler Ahmed I between 1609 and 1616, and is now open to nonworshippers every day outside of prayer times.
Nasir al Molk, Shiraz, Iran Lesser known still is the Nasir al Molk mosque in the university city of Shiraz in southern Iran. Adorned with stained glass windows – unusual in Islamic architecture – it makes for a spectacular sight in the early morning and late afternoon, when the sun’s rays cause twirling light patterns across the embellished murquanas, a form of architectural ornamented vaulting.
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Sheikh Lotfollah Mosque, Iran This mosque in Isfahan, a city said by travel writer Robert Byron to rival Athens and Rome, would be known around the world were it in most other countries. Because it is in Iran, however, it has been explored (and Instagrammed) by very few western tourists. Built in the early 17thcentury under Shah Abbas I, it does not have a courtyard or minaret, making it architecturally unusual: this is said to be because the mosque was never intended for public use, but for prayer by members of the Shah’s harem. The Foreign Office currently advises against travel to Iran, but the recent nuclear deal may well see the country’s tourism industry open up to foreigners.
Aya Sofya, Turkey
Blue Mosque, Cairo, Egypt
Opposite the Blue Mosque in the historic Sultanahmet district of Istanbul, the squat, rosy Aya Sofya was built more than 1,000 years before its neighbour. The original “Church of the Holy Wisdom” was built in the 6th century, but the building on the site when the Ottoman Empire took Istanbul was turned into a mosque. Over the 16th and 17th centuries, mihrabs, minbar, and a preaching stand were added to the structure, and the Aya Sofya today is a mixture of Byzantine glittering mosaics and inscriptions from the Koran in Arabic. It is now a museum.
The Amir Aqsunqur Mosque, which dates from the 14th century, reopened in Cairo in May this year following a 13year closure to repair earthquake damage. The mosque is part of a funerary complex, containing the mausoleums of its founder Shams ElD in Aqsunqur and his sons. Its current aesthetic reflects the Ottoman style, especially in the Iznik tiles depicting cypress trees and vases holding tulips. Gulf Insider September 2015
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Bahrain’s Photo History
Dmitri Kessel—Time & Life Pictures/Getty Images The caption that accompanied this image when it appeared in LIFE: “End of shift at the Bahrein [sic] refinery starts a stampede to the gates with empty dinner pails. Workers must line up to be searched at the gates which are just wide enough for one. Since Friday is the Moslem Sabbath, working week runs from Saturday through Thursday.
Each month Gulf Insider will publish photos showing Bahrain in past times. To view many more visit Gulf-Insider.com and LIKE Gulf Insider on Facebook to receive new (er… old) Bahrain photos almost daily.
The old fish market in Muharraq in 1973 54
Gulf Insider September 2015
Street scene in Manama, with minaret standing in background. Taken by Walter Sanders, 1952
Art
A weaver (in the village of Bani Jamra, c.1965)
Local coffee shop in Muharraq Souq in 1968 Dmitri Kessel—Time & Life Pictures/Getty Images Oil industry worker, Bahrain, 1945
A mattress repairman, an outdated profession. Al Marq village, 1968
Dmitri Kessel—Time & Life Pictures/Getty Images Oil industry laborers, Bahrain, 1945 Gulf Insider September 2015
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Bits of What I Have Saleh Sharif and his team recently completed filming their first feature in Istanbul, Turkey.
‘B
its of What I Have’ is a film about two days in the life of an aging writer who is nearing death and a youthful soul who is in utter need of inspiration. He happens to seek it in the arms of the anguished writer. The film was shot in Istanbul, with Turkish actors and crew, therefore the film is in Turkish with English subtitles. To get the true and traditional essence of cinematography, the movie was shot on film reel, and not digital cameras. “There were many difficulties during the course of the film,” says writer and director Saleh Sharif, “With finding funds, securing locations and wrapping the shoot on time. But these were the things we expected. Now that it’s done, I can only recall it as a great learning experience.” Saleh, an AMA University graduate and his friends began their journey as amateur filmmakers through their institution’s Film Club under the guidance of Professor Zeeshan Shah. “Most of what I learned was through watching films and reading about film makers such as Yasujiro Ozu, Satyajit Ray and Akira Kurosawa,” says Saleh. 56
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Eventually, Saleh and his friend Zahid Balooshi made a short film that won them the Sheikh Nasser Award two years back. Although they don’t have a release date, Saleh and his team have begun sending off their movie to film festivals around the world. “We don’t want to shy away from major screening venues such as Cannes, Sundance, TIFF and the Dubai Film Festival,” says the enthusiastic and young artist.
‘Bits of What I Have’ is sponsored and supported by Saudi Photographer Ibrahim Alrabeh.
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Last Word
Steve Jobs’ 14 Most Inspiring Quotes
A
pple computers founder Steve Jobs seemingly had an opinion on everything. Here’s 14 of his more thought-provoking quotes:
something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.”
“Creativity is just connecting things. When you ask creative people how they did something, they feel a little guilty because they didn’t really do it, they just saw something. It seemed obvious to them after a while.”
“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don’t settle.”
“It’s really hard to design products by focus groups. A lot of times, people don’t know what they want until you show it to them.” “Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.”
“Being the richest man in the cemetery doesn’t matter to me … Going to bed at night saying we’ve done something wonderful … that’s what matters to me.”
“Be a yardstick of quality. Some people aren’t used to an environment where excellence is expected.”
“I’m as proud of many of the things we haven’t done as the things we have done. Innovation is saying no to a thousand things.”
“You can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in
“I think if you do something and it turns out pretty good, then you should go do something else wonderful, not dwell on it for too long. Just figure out what’s next.”
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“Getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again. It freed me to enter one of the most creative periods of my life.” “Quality is more important than quantity. One home run is much better than two doubles.” “When I was 17, I read a quote that went something like: ‘If you live each day as if it was your last, someday you’ll most certainly be right.’ It made an impression on me, and since then, for the past 33 years, I have looked in the mirror every morning and asked myself: ‘If today were the last day of my life, would I want to do what I am about to do today?’ And whenever the answer has been ‘no’ for too many days in a row, I know I need to change something.” “I’m convinced that about half of what separates successful entrepreneurs from the non-successful ones is pure perseverance.” “I want to put a ding in the universe.”
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