From The Chair soon. The contents of the MOU are published on page 8.
Dear Members, Welcome to the summer edition of the Forum magazine. A number of you will shortly be taking a well earned opportunity to visit the United Kingdom on vacation. No doubt you will have time to reflect on the challenging and fascinating year so far in Bahrain and the United Kingdom. I have had the honour of serving you for just over one year and I will proudly reflect on the many achievements that we have made working together as a great team of Bahraini and British businessmen and women. We signed a Memorandum of Understanding (MOU) with the Bahrain Chamber of Commerce (BCCI), in May 2010, in the presence of H.E. Ambassador Jamie Bowden. We are very proud of this achievement and looking forward to working more closely with H.E. Dr. Essam Fakhro, BCCI Chairman, and his dedicated team. There are clear synergies between our two groups which we hope to capitalise on in order to forge stronger business ties between the Kingdom of Bahrain and the United Kingdom. We plan to hold a joint networking function at the BCCI’s impressive Seef headquarters very
Our kick-off meeting with Tamkeen and the oversubscribed follow-up April lunch with Abdulellah AlQassimi, CEO, has borne fruit. A number of UK Educational Institutes, including BBBF members, have signed contracts and/ or are actively involved in discussions with Tamkeen in respect of a number of educational and development programmes in support of the 2030 Economic vision. May saw an incredible UK election unfold and the return visit of our dear friend and stalwart BBBF supporter, HRH Prince Andrew, Duke of York. The visit was very successful and helped to cement relationships with senior members of the Bahraini Royal family and business ties with parties such as the BCCI, Tamkeen and the Ministry of Finance. We were thrilled to hold our lunch on the day that, our dear colleagues, The British Club celebrated their 75th year anniversary; an astonishing achievement that we congratulate Bill Frost, Peter Down and all their committed team and members on. The BBBF committee will consider some new ideas for the coming months to better serve you, and action the candid feedback that we received from our recent Members survey (results of which were published in the
Registration number ISSN 1985-9929
Spring Forum magazine edition). Robin Watson and the SIG Heads have stepped up the momentum in the last quarter with a number of well supported activities. A special mention also to Gulf Air, HSBC, and RSA our 2010 corporate sponsors, who continue to be a great source of financial support and generous encouragement. Their support allows us the financial security to increase the number of initiatives and enhances the quality of events we organise. I would like to add a special thank you to HSBC. CEO, Patrick Gallagher, and his team sponsored an excellent Curry Night at the British Embassy for 200 members and guests. We are looking forward to next year’s evening with eager anticipation. We hope that you enjoy this Forum edition and the Committee is looking forward to seeing you, and your guests, at forthcoming BBBF functions and hearing more about how we can serve you better. Despite the relatively slow summer vacation period, the BBBF will continue to run events throughout the summer and I do sincerely hope that if you are in town, then you and your guests will be able to join us. Please see Page 4 and 11 for details of some of our events. Khalid Al-Zayani Chairman
BBBF Tel: +973 1781 3488, Fax: +973 1781 3489, Email: email@example.com Bahrain British Business Forum, P. O. Box 10051, Manama, Kingdom of Bahrain
Contents The 2009-2010 Executive Committee ......2 Advertiser Index ..............2 From Her Majesty’s Ambassador ....................3 Welcome to new members ..................4 Member Benefits .............6 Why join the BBBF? ........7 BBBF & BCCI sign MOU.........................8 Special Interest Groups .10 CEO Tamkeen at April Lunch ....................12 BBBF Legal SIG ............14 Security SIG ..................16 Financial News ..............18 Islamic Funds Ernst & Young Report ...22 The Role of the Credit Bureau ..........24 Feature Article How to capitalise on emerging mega trends .26 Feature Article It's time to make a plan..28 Medical News ................30 Bahrain Construction Update......32 News from the E.P ........34 Hotel News ....................36 Bahrain News ................40 British Club Celebrate 75 years ........48 Career Expo 2010 .........52 And Finally.....................52
Cover Image: BBBF Chairman and BCCI Chairman exchange signed copies of the MOU (see page 8) Forum
The 2009-10 BBBF Executive Committee
Chairman Khalid Al Zayani
Deputy Chairman Austin Rudman Mob: 3969-9475
Treasurer Patrick Dornan Mob: 3924-3739
Secretary Bill Frost Mob: 3963-5110
Member Rob Grey Mob: 3966-3452
Member Rebecca Eriksson Mob: 3953-6989
Member Jill Boggiss Mob: 3996-3026
Embassy Representative Rebecca Topping Mob: 3975-0496
Our thanks to all the advertisers in this edition of Forum. Without their support, this issue would not have been possible. Please give them yours. Allied Pickfords.................................................page 33 American Mission Hospital ................................page 31 AXA Insurance................................. Outside Back Cover Best Western Hotel ...........................................page 34 bmi .................................................................page 35 BMMI ..............................................................page 41 British Club ......................................................page 47 British School of Bahrain ...................................page 43 citibank ....................................................... 27, 37, 51 DHL Express.....................................................page 49 Euromotors ........................................................page 9
Diary Dates July 6th - Tuesday Business Lunch Meeting Guest Speaker: Dr Essam Fakhro, BCCI Chairman Venue : BCCI Time: 12 noon for 1pm Costs: BBBF Members BD12. Non members BD15 July 21st - SIG Meeting at Capital Club at 3pm BBBF SIG (S) in partnership with OSAC To register for this meeting contact Tony Palys August 17th - BBBF Annual Ramadan Night Venue: British Club Time: 7.30pm Costs: TBC - BBBF Members only event September 21st - Tuesday Business Lunch Meeting Guest Speaker: Rupert Potter, British Embassy Venue: TBC Time: Registration 12 noon Costs: BBBF Members BD12. Non members BD15 2
Fine Foods Bahrain.............................Inside Front Cover Gulf Agency Co ...............................................page 15 Gulf Air ...........................................................page 23 Gulf Hotel .......................................................page 39 Gulf Markets International.................................page 45 HSBC ..............................................................page 19 Mansouri Mansions ..........................................page 34 Nexus Financial Services ...................................page 29 RSA .................................................................page 21 TNT Express ....................................... Inside Back Cover Veritas Investments............................................page 25
From Her Majesty's Ambassador
Visits by HRH The Duke of York to Bahrain always generate a huge amount of goodwill and opportunities for practical follow up action. But I don’t recall one where the scope for getting deliverable benefits for both British and Bahraini business has been as extensive as that on 6 May. His Royal Highness had a number of meetings with Bahraini and British business people, most notably the Minister of Trade and Industry, the
Minister of Works and the Bahraini Chamber of Commerce and Industry, which enabled him to deliver some key messages about the UK and to hear some about Bahrain. To the Bahrainis he said that Britain was still an industrial power. Manufacturing output had increased by 2% in Q1 2010, the highest figure in 15 years. He said that the UK recognised that notwithstanding our excellent relationship with Bahrain, our companies had to be competitive. He stressed that there were opportunities for FDI in both directions between the UK and Bahrain. Finally he asked which sort of UK companies should be coming here and whether they should be coming as partners or consultants. The sectors that his Bahraini interlocutors suggested were health, education, construction, IT and downstream aluminium, steel and petrochemicals. Bahraini companies were looking for JV opportunities. But the
Bahrainis were also frank that British companies were conspicuously less active than their rivals, including their European rivals, in bidding for work here. The Embassy is now working with the BCCI and the Duke’s office over ways of making British companies more aware of the opportunities available in Bahrain. The day before The Duke visited the BCCI, the Chamber and the BBBF signed an MOU. I was greatly honoured to be present at that occasion and congratulate the Forum on another first. The BCCI have not signed such an MOU before. Later in May we welcomed back to Bahrain an old friend, Sir David Lewis, who as Lord Mayor visited in 2008. Sir David spent a day calling on Bahraini ministers and meeting senior figures from the financial services sector to discuss the global and regional financial situation and to emphasise the City’s position as the world
centre of international financial activity. On the political front, the Defence Secretary, Dr Liam Fox, visited Bahrain on 24 May. This was the very first visit by a member of the new Government to a Middle East country, a fact which illustrates nicely the warmth and importance of the bilateral relationship. I wish you all a restful summer holiday. I have no doubt we’ll need a break before the pace picks up again after Ramadan. Jamie Bowden British Ambassador
Ambassador's Reception H.E. The British Ambassador Mr Jamie Bowden hosted an evening event at his Residence for the members of the Bahrain British Business Forum (BBBF) on 27 April 2010. The Ambassador was delighted to welcome approximately 200 of the Forum’s members to enjoy an evening in his Gardens and reinforce the strong links between the Bahrain British Business Forum and the British Embassy. The event was kindly sponsored by HSBC Bank, which is also a Platinum Sponsor of the Bahrain British Business Forum. HSBC Bahrain’s CEO Mr. Patrick Gallagher commented, “As the banking choice of leading regional and international businesses, it is a pleasure to be associated with BBBF.” Forum
Jacek Brodniewicz Architect Aedas Architects Ltd Tel: 1721-2887 Mob: 3991-5721 firstname.lastname@example.org
Chidambaram Gunaseelan General Manager Aeradio Technical Services WLL Tel: 1770-6401 Mob: 3960-8351 email@example.com
Shirley Dockerill Consultant Act.3 Tel: 3914-7760 Mob: 3914-7760 firstname.lastname@example.org
Katarzyna Jaromin Senior Sales Manager Diplomat Radisson Blu Hotel, Residence & Spa Tel: 1752-5229 Mob: 3634-1856 email@example.com
John Dunkerley Manager Apache Bahrain Consultancy WLL Tel: 1756-2865 Mob: 3916-5462 firstname.lastname@example.org
Heinz Krähenbühl General Manager Mövenpick Hotel Bahrain Tel: 1746-0088 Mob: 3933-5696 heinz.kraehenbuehl@ moevenpick.com
Sharon Fernandes Director of Sales - Corporate Diplomat Radisson Blu Hotel, Residence & Spa Tel: 1752-5223 Mob: 3993-7853 email@example.com
Steven Mayes Manager - Sales & Agency C B Richard Ellis WLL Tel: 1655-6600 Mob: 3666-2940 firstname.lastname@example.org
Patrick Gallagher Chief Executive Officer HSBC Bank Middle East Tel: 1756-9900 Mob: 3999-6659 email@example.com
Nevine McDonald Associate Ogier Fiduciary Services Tel: 1720-6825 Mob: 3995-9472 firstname.lastname@example.org
Roy Gardner Chief Financial Officer Arab Banking Corporation Tel: 1754-3223 Mob: 3986-8082 email@example.com
Matthew Mulry Managing Associate Ogier Fiduciary Services Tel: 1720-6821 Mob: 3602-1161 firstname.lastname@example.org
Welcome to New Members Charlotte Oven Senior Manager Ernst & Young Tel: 1751-4792 Mob: 3968-8310 email@example.com
Jane Sheikh Chairman Party Party Trading WLL Mob: 3670-1133 firstname.lastname@example.org
Adrian Pepper Chief QS G. P. Zachariades (Overseas) Ltd Tel: 1759-8800 Mob: 3605-9908 email@example.com
Ian Stacey Director Advisory KPMG Fakhro Tel: 1721-3065 Mob: 3996-5626 firstname.lastname@example.org
Paul Perris Group Director Ogier Fiduciary Services Tel: 1720-6822 Mob: 3628-3882 email@example.com
Stephen Swan General Manager B.C.S. Management Co. W.L.L Tel: 1758-3155 Mob: 3943-1081 firstname.lastname@example.org
Peter Petyt Partner BDO Jawad Habib Tel: 1753-0077 Mob: 3657-1105 email@example.com
Jonathan Trafankowski CEO Gulf Markets International Tel: 1749-0040 Mob: 3689-4949 firstname.lastname@example.org
Simon Roberts Vice President Security DHL Express Tel: 1735-1213 Mob: 3606-1566 email@example.com
James Ward Head of Real Estate Alpine Wealth Management Tel: 1756-3333 Mob: 3688-5085 firstname.lastname@example.org
Andrew Sharpe Partner Charles Russell LLP Tel: 1713-3219 Mob: 3903-5451 andrew.sharpe@ charlesrussell.co.uk
Hanna Ylijukuri Manager Ogier Fiduciary Services Tel: 1720-6824 Mob: 3628-3880 email@example.com
Benefits for BBBF Members Benefits for all our members may be obtained on production of their Membership card at the concerned outlet. We would like to hear your feedback concerning these discounts. Please do not hesitate to offer your services to our members by contacting the BBBF office. If any member has any difficulty obtaining a discount, please contact the BBBF office so we can rectify the situation. Al Faris Auto Centre Special discounts on parts and services. Contact: Yousif Eid Tel: 1787 7222 Email: firstname.lastname@example.org Azrek Search Associates 20% discount on search and headhunting services. Contact: Rory Adamson Tel: 1758 3885 Email: email@example.com AXA Insurance 10% discounts to members on personal lines insurances. (excluding medical) Terms & Conditions Apply. Contact: Stephen Wagstaff Tel: 1758 8222 Email: firstname.lastname@example.org Bahrain Kuwait Insurance Company (BKIC) Special schemes have been arranged with Bahrain Kuwait Insurance Company (BKIC) for BBBF members for the following classes of insurance: House & Contents, Domestic Servants & Motor Insurance. Special terms are available on production of your membership card. Bateel Bahrain 10% off on production of your membership card. Bateel offers a wide selection of classic and customised gifts for corporate functions, weddings and special occasions. Contact: Mahboob Shareef Email: email@example.com Tel: Alaali Shopping 1758-0845 Citycentre Mall: 1717-9181 BFG Commercial Services Special Discounts available on current stock of Patio / Outdoor furniture & Area Rugs. Contact: Lynne Biddle Tel: 1774 1484 British Club Entrance Fee waivered when booking Business lunches in the Ascot Restaurant. (pre-booking only) Group booking welcomed. Contact: Reception Tel: 1771-3999 Crowne Plaza Hotel Bahrain 10% discounts to members when they dine in any outlet on production of your membership card. Cannot be used against any other promotion or discount. Effective until 31 Dec 2010 Contact : Kate Simmonds: Tel 1753-1122
Conscious Connections 5% discount on Crystal Therapy and Awareness, 10% discount for group bookings and group workshops. Contact: Julie Lomas Mobile: 3960 6712 Email: firstname.lastname@example.org DHL 25% discount from the cash tariff for any personal shipments being sent from Bahrain to anywhere in the world available on production of your membership card. Contact Andy Broughton DHL Customer Service 1736 4100 www.dhl.com.bh Diners Club Services Bahrain Offer Special Discounts on Corporate, Purchasing & Travel Cards for BBBF members. Effective until 31st December 2010 Contact: Amanda Reeves Tel: 39974384 Email: email@example.com Hasan Mansouri 10% discount to members at Mansouri Mansions Hotel and Country Club. Contact: Karim Mansouri Tel: 1772 8144 Email: firstname.lastname@example.org National Hotel Services (NHSC) 5% on beers, 15% on wines and spirits with the exception of products already on special offer. Contact: Ian Bricklebank Tel: 1781-5929 Email: email@example.com Royal Over-Seas League The Royal Over-Seas League has clubhouses in London and Edinburgh which include hotel-style accommodation.Reduced rates for BBBF members. Application forms for membership are obtainable from the Membership Secretary at: Royal Over-Seas League, Over-Seas House, Park Place, St Jamesâ€™s Street, London SW1A 1LR Tel: 0044 20 7408 0214 Fax: 0044 20 7499 6738 Email: firstname.lastname@example.org The MakeOver Experience 10% discount to BBBF members on all individual and group courses, with occasional extra special offers and prize draws. Additional discounts to BBBF corporate members for customised training courses. Contact: Dr. Leila Edwards Tel: 1759 2019 Mob:3966 7623 Email: email@example.com
This edition of the BBBF Forum magazine was compiled by Andrew Mead at Mead Management Services Ltd. email: firstname.lastname@example.org UK Mob: 0044 7940 559 925 KSA Mob: 00966 506 271 151 Bahrain Mobile: 00973 3638 7595 and produced in cooperation with Krishnan Surendran at Jumana House, Riyadh, KSA Tel 00966 1 292 0451 Fax: 00966 1 472 6962 If you would like to contribute to a future edition please telephone or send an email to email@example.com A full page advert is charged at BD300. A half page advert at BD180, A quarter page advert at BD100 A small panel at BD50 Please note: The BBBF nor its agents do not warrant the services of any of the individual or corporate members of the BBBF. The views and opinions expressed by independent contributors must not be regarded as those of the BBBF or its agents. Publication of any article or advertisement does not imply any endorsement of the views, products or services described therein.
Why Join The BBBF?
BAHRAIN The Pearl of the Gulf has had a long standing relationship with Britain and is still a major trading partner. BRITISH Trade with Bahrain is now subject to significant competition in this era of globalisation particularly from countries in Europe and from the USA.
Membership directories are distributed to members of visiting Trade Missions and are available to businessmen visiting Bahrain through the Embassy and business centres in five star hotels. Simply click on “Sign Up” on our website www.bbbforum.org complete the application form and click submit. Sounds simple, it is, it must be worth it.
BUSINESS between Bahrain and Britain must be promoted in order for Britain to maintain its dominant position. The BBBF has been formed to help in whatever way it can to do this and through its close cooperation with the British Embassy seeks to promote exchange of trade and good relations between Bahrain and Britain.
Cost of membership Individual Membership: BD 75 per annum, with an additional BD 40 once-only registration fee.
FORUM Is defined in the Collins English Dictionary as, “an assembly or meeting to discuss topics of public concern”. The BBBF provides through its monthly meetings a platform for networking amongst its members and the exchange and dissemination of useful business leads and opportunities. In addition, in return for a modest subscription, members receive the benefit of inclusion in an annual directory describing the products and services they have to offer and a listing on the BBBF website again with a description of activities, contact numbers and useful links.
Corporate Sponsorships Three levels of sponsorship are available:
BBBF Membership Application Please complete the membership form and send it to: BBBF Administration Manager, Fax: (00973) 1781 3489, or Email: firstname.lastname@example.org. For further information call (00973) 1781 3488, Web site: www.bbbforum.org
Corporate Membership: BD 200 per annum (up to 5 individuals) plus BD 40 for each applicant up to a maximum of 10, with an additional BD 100 once-only registration fee.
Platinum: BD 2500 each year for three years Gold: BD 2500 for one year Silver: BD 1250 for one year Sponsor packages include a variety of advertisement opportunities in the Membership Directory, the Forum magazine, the BBBF website and at the regular lunch meetings. Full details are available on request.
Corporate Membership please complete separate form for each applicant
Website address of business (if applicable)
Title and full name (Surname first)
Describe how you / your company contribute to substantial business interests in Bahrain (Maximum 150 words)
Position in business Nationality
Date of Birth
CPR Number Address of business (P.O.Box & Town) Business telephone
I agree to abide by the BBBF Constitution & Internal regulations. Applicants Signature
Please note that the granting of individual or corporate membership is subject to BBBF Committee approval.
Historic achievement as BBBF and BCCI agree greater co-operation
The Bahrain Chamber of Commerce and Industry and the BBBF have outlined areas in which they will work together to improve Bahraini / British business ties.
Dr Essam Fakhro, Chairman at the BCCI said he was delighted to further strengthen the special business relationship that exists between the two countries.
MEMORANDUM OF UNDERSTANDING
Mr Al Zayani and Dr Fahkro are pictured above at the signing of an MOU, the text of which is shown below. The move will see the two groups developing joint seminars, conferences and Trade 3.
Organise visiting trade delegations to the Kingdom of Bahrain and the United Kingdom in order to strengthen cooperation and relationships between businessmen in both countries.
Cooperate in carrying out studies and research on trade relations between the Kingdom of Bahrain and the United Kingdom, and the volume of trade exchange between two countries.
Work on the transfer of modern technologies which are useful to the Kingdom of Bahrain in various areas of trade, industrial and Information Technologies.
Exchange of publications, information available on economic affairs.
Encourage the establishment of joint investment projects, and work to overcome obstacles facing investors in both countries.
Each party allocates a website link of the other party on his homepage website.
The first party shall allow the second party to use the conference and meeting facilities available at BCCI Building (Bail Al Tijar) to organise conferences and seminars at preferable rates.
This MOU is made and signed this 5th May 2010 between: −
Bahrain Chamber of Commerce and Industry, of P.O. Box: 248 Manama –Kingdom of Bahrain, represented by Dr. Essam Abdulla Fakhro in his capacity as chairman of Board of Director of BCCI, hereinafter referred to as “the first party.” AND Bahrain British Business Forum, of P.O. Box 10051 Manama - Kingdom of Bahrain, represented by Mr. Khalid Rashid Al Zayani, Chairman of the Forum, hereinafter referred to as the “second party”. Preamble
Bahrain Chamber of Commerce and Industry and the Bahrain British Business Forum desire to cooperate and coordinate their efforts to activating the role of the private sector in attracting foreign investment, and strengthening of relationships between the private sector in the Kingdom of Bahrain and the United Kingdom, both parties have agreed as follows:
Cooperation in organising seminars and conferences that contribute to attracting the British investments to the Kingdom of Bahrain.
Promote investment opportunities available for businessmen in the Kingdom of Bahrain and the United Kingdom.
Missions. "We are excited at this historic achievement and look forward to working with the BCCI and its large and diverse private sector membership" said Mr Al Zayani
This MOU shall come into force on the date is signed, and shall remain valid for a period of one year. Thereafter, it shall continue to remain into force unless a written notice is giving by either party for termination at least one month before the intended date of expiry.
Special Interest Groups
The Finance and Insurance [FISIG] has had a slow start, mainly due to the obvious reason that every Bank is focussing on the world financial situation. Bahrain has done remarkably well mainly due to the excellent banking system and the good governance of the Central Bank of Bahrain.
is retiring from his company and hands over the responsibilities to Premal Patel who has provided an update of the plans for the group for the reminder of the year. [See RH Column opp. page] Our good wishes go to David who, as well as being a good friend, had a wealth of experience in Banking and a knowledge level that not many people in the industry have. He was always a guiding light for me and many others. We wish him well and thank him for all the work he's put into the FISIG over the last two years.
It is with regret that I've accepted the resignation of the previous head of FISIG, David Halstead who
On a note of concern, I read in the recent survey that around 50% of the Membership had not heard
LAWSIG, Clive Hopewell who has already had his first seminar. Jill Boggis has organised and presented two excellent seminars which were well attended and everyone thought extremely worthwhile.
The Special Interest Groups are gaining momentum with the introduction of two new groups, The Lawyer SIG and one dedicated on improving work skills for everyone, the Organisational Effectiveness Group. The Lawyer SIG has already met and has shown an initiative from the Head of
Update from Organisational Effectiveness Group organisations need to be aware of the potential risks and rewards of using such tools.
Our first meeting was held at the Capital Club in March with around 35 people attending a presentation made by David Ingle of Hill & Knowlton who outlined enterprise 2.0 applications and how they are used in organisations to improve communications and employee engagement. There was an interesting discussion with a range of opinion about whether this was change for the good or a security risk for organisations. All agreed these developments are here to stay and 10 Forum
The second meeting in April was on a related topic with Dr Joe Dunn talking about how to flatten hierarchical structures in organisations and the benefits to morale and effectiveness that can result. Again an interesting debate took place after his presentation where some audience members in some of the functions (namely HR and Finance) that Joe was suggesting could be dispensed with from the senior teams - made valiant cases for their survival! (see page opposite for a fuller account.) It seemed to me that it was high time for input from the “real” world (as we have now had two consultants as speakers) and so the June 22nd meeting at the
Capital Club will continue the theme of how to get the best out of people in organisations. Teodor Ardeleanu, of Marriott Executive Apartments, will talk about how the Marriott group train and develop their people. He will talk about how they already do as Joe suggests – place their employees at the heart of their strategic focus – this ensures that customers are taken care of by those who fully understand their needs – and the financial results follow as a “scoreboard” rather than as a focus for strategic thinking. Teodor will outline how he works with his team and how “the Marriott way” of having global standard operating procedures and clear founder values and involvement supports the creation of such consistent levels of service. I hope to involve some of the other hoteliers in this meeting
of the Special Interest Groups which I thought suprising. I have stood up many times in meetings and this magazine has carried many articles about the various group activities. Anyone interested in forming a group or helping the BBBF promote SIGs in a way we have not thought of should give me a call or drop me an e-mail. Meanwhile the Special Interest Group heads wish everyone a good summer and safe travels and I personally hope that BA gets us back on British travel as soon as possible. Robin Watson email@example.com – and if not at this one Ivor Prestwood (Crowne Plaza) and James McDonald (Intercontinental) have some ideas about a topic for a future event. I intend to hold some meetings as working meetings - where we spend some time in a “workshop” format actually working together on an issue someone is working on in real time – to provide a free “consulting” service to each other – I haven’t figured out the right format yet but will keep you posted. I think that we could really help each other and learn a lot in the process. We have a LinkedIn group with 30 members and a list of around 50 people who have expressed an interest in being kept informed of future events. We will have a formal meeting every six weeks or so and I will let you know about the focused workshops.
cont...Update from Organisational Effectiveness Group I would like to thank the Capital Club for their support and seamless service to our group (sadly Ursula is heading off to Vietnam and Yvett is going to continue to
support us) and I also want to thank Chris Pratt and his media coverage star, Hassan al-Jundi, for their help with getting us some great coverage.
From pyramids to circles - BBBF Organisational Effectiveness Group second meeting 'dictatorship' that people sometimes experience.” he continued.
At a meeting held at the Capital Club on Tuesday 11 th May Dr Joe Dunn outlined his thoughts about the changing nature of the work environment and how changing management structures within organisations can improve the productivity and morale of those involved. Dr Joe proposed that the way in which companies build their management structures needs to be fundamentally shifted. “I believe that the time is right to consider these structures in terms of 'bare necessities', looking at which functions are essential to the profitability of the business” said Dr Joe. “Many functions can be re-engineered to allow them to provide support to the workforce without the tendency for central
Dr Joe outlined approaches taken by organisations like Google and Ikea who have successfully flattened their organisational structures and he outlined work he has recently undertaken in an international oil company in Yemen where the new thinking has improved profitability and led to considerable cost savings as well as improving morale. “This special interest group is focused on how to improve organisations and to make them better places to work including how to make them more productive and profitable and we welcome anyone to attend who has an interest in learning from others or who has ideas to share” said Jill Boggiss, BBBF Organisational Effectiveness group head. Dr Joe, an agricultural engineer by qualification, has been involved with organisational development, business consultancy and soft skill training in the Arabian Peninsula for over twenty five years while based in Bahrain. He has been a member of the BBBF since its formation.
Outline Diary for FISIG Date June 15 June 22 June
End June 15-30 June July Mid July All month w/c 1 July
September Post Eid Post Eid
October 6 October 7 October November 1st-3rd
Proposed FISIG Committee meeting -1st meeting Chaired by Premal Patel Robert Ettens, President and Founder Insight Solutions Group US (see www.in-sightsolutions.com) in Bahrain – potential meetings for BBBF Finance & Insurance (FI) members. Organisational Assessment & Development Seminar + networking dinner, Movenpick Hotel. Hosted by Premal Patel with keynote address from Robert Etten, Insight Solutions and Ron Ribeiro, CEO Aryan Business Consulting. Finalise new FISIG Committee Members and Advisory Board. New membership drive. All FI members to be contacted, new FISIG Value Proposition shared and feedback noted. Potential Turkey Investment Forum (still being planned) New Membership drive – round table discussions, 1:1 meetings etc Announce the 2010 GCC CARDS SUMMIT 1-3 November at Ritz Carlton Hotel Bahrain (2nd Summit to be held in Bahrain). This year we will include 2 x workshops – Risk Management and Pre-Paid Business. Potential forum in London to meet UK businesses who are interested to develop business partnerships in Bahrain (still under planning phase) FISIG Committee Meeting 2nd seminar in the series – focus on Project Management (commercial projects and not IT) and Financial Management for non-financial experts, plus key meetings with domain experts and BBBF members Round table (1) : Focus on Private Banking & Wealth Management. Round Table (2) : Focus on Cards & Payment GCC Cards Summit plus Risk Mgt and Prepaid Business Workshop. Potential meetings for BBBF Members with keynote speakers (Ms Elisabet Sahtouri – www.sahtouris.com)
December w/c 1 Dec FISIG Committee meeting PLEASE NOTE: All dates provisional - please confirm. Forum 11
CEO of Tamkeen addessed the April Business Lunch At the BBBF April lunch 150 members and guests heard from Mr Al Qassimi about Tamkeen’s updated strategy, which runs from 2010 – 2014. The Tamkeen vision is “A distinguished career for prosperous living,” and the strategy refresh remains focused on improving living standards for Bahrainis. “Tamkeen wants to partner with the private sector to deliver practical and useful
solutions to enable national enterprises to grow so that they can create sustainable and well paid employment for Bahrainis,” said Mr Al Qassimi, “We want to support the creation of a large pool of skilled Bahraini talent for the private sector to draw on. We will enable enterprise through encouraging and supporting entrepreneurs as well as supporting established commercial enterprises and will partner
with the private sector to improve labour market policies to make it easier for organisations to employ the best people in a business friendly environment” he continued. “Bahrain’s Economic Vision 2030 lays out the national intention to grow and develop a healthy and competitive private sector, and no investment is more important than that made
in education and in the development of human capital” said Austin Rudman, Deputy Chairman of BBBF, “It is also very important for inward investment from the UK that the labour market is easy to deal with and that the people available in the local workforce are developed to an international standard. Our members welcome Tamkeen’s strategic focus and many will benefit from their activities”
Manager skills development - a framework to consider First in a series of articles from the organisational effectiveness interest group by Jill Boggiss, Ernst & Young with help from Dr Mark Jenner, MJA Associates
Developing people and enabling them to be more effective at their jobs is of increasing importance to organisational success. In particular it is vital for people who are responsible for managing others to develop the right skills to get the best out of their team – whether this is leading a small work group or leading the senior executives responsible for running the whole business. Which skills are needed will depend on the role and the level of responsibility that is involved, as well as the experience of the person managing the team. For organisations to be sustainable and successful they need to have a flow of people coming through who have the right skills for each increased level of management responsibility – and for these people to be coached and developed intensively as they change roles. In turn most people in organisations are more effective when they know what is expected of them, how they can progress 12 Forum
in their role and are offered opportunities to gain the necessary skills either through training and development or by being offered stretching assignments to learn through experience, preferably both - and to get focused support in process. In many organisations having a development framework is an important part of an overall talent management strategy and a useful way of thinking about this is to use the “Leadership Pipeline” (sometimes called the crossroads model). This was first developed within GEC in the 1970s by a gentleman named Mahler. This was then refined by Charan, Noel and Drotter who were consultants working with these ideas. This framework is in use today in many organisations and is used as a way of defining the right kind of training and development at each management transition and level. The difference in the development focus is determined by the changes the person needs to make
in terms of how they apply their time, which new skills they need to acquire and the shift they need to make in terms of what they value about the work they do. As people progress through the management pipeline their work gets progressively less technical until it is totally about inspiring and leading the enterprise. I am sure we have all been blessed with the experience of having a manager who is able to bring out the best in us – hopefully a few times over the time of a career. Being managed by someone who helps us to achieve things that we didn’t think were possible and who supports us to have the courage to take action and try for something new makes the working day pass very quickly – some of this is based on personality but a very large proportion is based on skill. Skilled managers are essential for organisations, particularly now when all resources, including people, need to perform more effectively. Many of the key skills can be learned
through programmes, study and crucially through “on the job” development. Please let me know of manager development that you have found to be effective or ideas you would like to share through the organisational effectiveness group. Abdulellah Al Qassimi talked of Tamkeen’s strategy and the commitment being made to building capability within the Bahraini workforce and this type of development can be funded through the Career Progression Programme (2). This is being administered by BDO and it can be tailored to suit the specific needs of the organisation involved. Career Progression Programme 2 is available to Bahrainis earning over BD400 in organisations registered under the scheme and covers a full range of professional skills training as well as soft skills training delivered by training service providers registered with BDO. The Career Progression Programme (1 & 2) is detailed on this information sheet.
Career Progression Programme
Guide your employees up the corporate ladder
With The CPP, employers can:
If you are looking to put your employees on the fast career path, Tamkeen has the programme for you. Tamkeen through BDO Consulting offers the Career Progression Programme. This programme is designed to address skill deﬁciencies that hinder the Career Progression opportunities of your employees and also those who decrease their productivity.
– Improve Bahraini Employee Skills – Achieve better retention rates – Increase productivity – Avail HR and training consultancy fees – Avail training costs – Avail pay increase for at least 1 year
With The CPP, employees can:
The programme is designed to help your employees to achieve higher productivity and improve their efficiency by indentifying and tackling their personal skill deficiencies. After successful completion of the programme employees will be entitled to receive an increment in their basic salary according to the option chosen by the employer for the development of the employee.
– Improve their skills – Receive a minimum of BD 50 according to the option chosen for employee by the employer – Receive expert career guidance – Grow and improve chances to climb up the corporate ladder
All details are highlighted in the table below Tamkeen CPP Options
Pay increaseSubsidy Training Budget subsidy by Tamkeen After completion (BD) (BD) up to Yr 1 Yr 2
Who can apply? – Employers can nominate their employees who meet the following criteria – Bahraini – Full time and Registered in GOSI – Receive a basic salary not less than BD 200
How to apply?
BD200 - Track 1A BD400*
>BD400* Track 2
For more information
Contact Tamkeen on Tel: 17383333, Fax: 17382352 or visit www.tamkeen.bh
To apply and for further information please contact BDO Consulting on Tel: 17530077 or email us on firstname.lastname@example.org or visit www.bdo.bh
* Employee’s Basic Salary
www.bdo.bh | www.tamkeen.bh
Special Interest Groups BBBF Legal SIG – Arbitration Event On Wednesday 10 March, Clive Hopewell, Partner of Charles Russell LLP and Head of Middle East for the firm, chaired the inaugural session of the BBBF Lawyers SIG on the topic of arbitration at the Capital Club. Clive expressed his gratitude to both Her Excellency Shaikha Haya Al Khalifa, Chair of the Bahrain Chamber of Dispute Resolution (BCDR-AAA), and to James McPherson, CEO of the BCDR-AAA for kindly agreeing to speak at the event. Their talks were followed by a very interactive Q&A session, where lawyers from the various member firms and in house lawyers were able to seek clarification on a number of important issues. Clive said “it was excellent to have such an important and historic development in Bahrain’s legal system as the topic of the Lawyer’s SIG inaugural event and we were honoured to have such distinguished guest speakers. The launch of the BCDR-AAA offers significant opportunities for both the UK and Bahraini legal communities and we look forward to working in collaboration with our fellow lawyers in Bahrain, in making a success of this important new venture.” Adam Vause, a senior dispute resolution lawyer at Norton Rose (Middle East) LLP in Bahrain, added “the creation of the BCDR-AAA is exciting for the business community and for dispute lawyers alike in that it should enable parties to resolve their disputes in Bahrain in an efficient and timely manner before a neutral tribunal and provide them with a readily enforceable award”.
Section 1: Statutory Arbitration • The BCDR-AAA will deal with commercial and financial disputes involving claims over BD500,000 raised by, or against, an organisation licensed by the Central Bank of Bahrain or involving an international party. • The language used will be Arabic unless the parties agree a different chosen language. • Non-Bahraini lawyers are not able to represent parties unless accompanied by a Bahraini lawyer licensed by the Court of Cassation. • Interim measures, for example a freezing order over a debtor’s assets to prevent dissipation, are able to be requested from the BCDR-AAA. If an interim measure is applied for and successfully obtained the respondent must be informed within three days and has the right to object within eight days of the order being granted. • After a case has been raised at the BCDR-AAA the claimant may request a travel ban be imposed on the defendant if there are risks of absconding. • The award issued by the BCDR-AAA will be final and binding and will be considered a final judgment as if issued by the Court’s of Bahrain. Awards may only be challenged on grounds of procedural irregularity. The Section 1 Rules set out the specific grounds on which challenge is permitted.
The Chamber has been created as part of Bahrain’s “Vision 2030” to enhance the country’s future economic outlook and international business and legal credentials. It is intended that the Chamber will offer purpose-built, rapid and effective resolutions for commercial disputes, dealing in particular with disputes in the construction, financial services, insurance and energy sectors.
Section 2: Chamber Jurisdiction by Parties Agreement • The BCDR-AAA is also competent to adjudicate disputes where parties agree that any disputes are to be resolved under the rules of the BCDR-AAA. There must be written agreement between the parties in this regard. • If the parties have not, or cannot, agree on the applicable law the BCDR-AAA will determine the law using relevant conflicts of law rules. • The Chamber will specify the language of the arbitration, unless the parties can agree. • There are limited grounds on which an award may be appealed, unless on the grounds of procedural irregularity. Under Section 2 arbitration, parties can choose to exclude the Bahraini Courts from having the right to review or overturn an award. • Non-Bahraini lawyers can represent parties in the arbitration, unaccompanied by Bahraini lawyers. • The free arbitration zone, available under Section 2, is open for all parties and all disputes. There are no criteria to satisfy, such as the claim value being over BD 500,000 as in Section 1, other than the parties involved must have written agreement to submit to the competence of the BCDR-AAA.
The BCDR-AAA has been established primarily in two halves: Section 1) statutory arbitration for commercial and financial disputes; and Section 2) Chamber jurisdiction by parties agreement. The key points of each section are summarised as follows:
It is intended that the development of the BCDR-AAA will meet the needs of the regional and international business communities, as well as promoting “Business Friendly Bahrain” and offering access to a modern and flexible legal system.
BCDR-AAA The Bahrain Chamber of Dispute Resolution (BCDRAAA) was launched in early 2010 and aims to set a new standard for the provision of alternative dispute resolution services. The Chamber has been established in conjunction with the American Arbitration Association (AAA), the largest provider of conflict management and dispute resolution services.
Special Interest Groups Special Interest Group - Security
See Something – Say Something - Was the theme of the combined BBBF SIG (S) and OSAC Hotel Sub Group meeting & presentation which was held at the Ritz-Carlton Hotel & Spa on the 23rd May 2010.
The guest speaker was Andy Williams the Regional Director Global Safety and Security: Europe-Middle East –Africa for the Marriott Hotels International Limited. This theme has been incorporated into an “E Learning” package that is backed and promoted by the Head of the Marriott Hotels International Mr. J.W. (Bill) Marriott, Jr. Those of you who are my age and were involved in the NVQ knowledge based training in the UK will remember that part of the training was completed using computer based modules. Well the “E Learning” training is similar but more advanced and can be tailored for different scenarios and different languages or as one of the participants mentioned “you’ve managed to 16 Forum
effectively condense a two week surveillance detection course into 15 minutes and make it accessible for everyone.” This package is still under development so watch this space in future articles. Also discussed were the lessons learnt from the 2009 Jakarta bombings with some pictures and video clips which had not been seen before. The presentation certainly brought home how determined the coordination was to get the individuals into place to complete their suicide attacks, almost simultaneously, whilst at the same time highlighting the strengths and weaknesses in the security at that time. This has resulted in the changes that are now being incorporated in not only the Jakarta hotels but their hotels world wide. Good hotels around the world are also following suit of which the challenge continues to be welcoming whilst at the same time secure without being overly oppressive. The picture below is from the attack on the Ritz-Carlton which was actually mentioned in the Autumn 2009 edition of this magazine.
Hotel Sub Group Leadership As mentioned in the Spring edition “Look Forward” we are looking for Leadership of the Hotel Group and as with any group you need someone to come forward to “Head Up” the membership so as to ensure the consistency in communication and to look for opportunities to engage the differing Hotel communities by way of informative Safety, Security and Training advice which will be beneficial to all. Fortunately two members of the BBBF have come forward to take on this challenge Simon L`Empriere the Security Manager at the Diplomat Blu Hotel and Waseem Ahmed the Safety & Security Manager at the Crowne Plaza Hotel.
If You See Something, Say Something • • • •
We intend to carry on this theme in our next combined meeting, which is scheduled for Wednesday 21st July, where it is hoped to have one of our guest speakers presenting “Hotel Refurbishment from a Security Perspective”
Be alert to unattended packages. Be wary of suspicious behavior. Take notice of people in bulky or inappropriate clothing. Report exposed wiring or other irregularities Report anyone tampering with surveillance cameras or entering unauthorised areas.
Sub Group Coordinator - We have also been nurturing a candidate to join
the Executive Committee as the Sub Group Coordinator of which I am pleased to announce that the post has now been filled by Andrew Deamer CPP the Managing Director of the Security & Training Consultancy Moneo Middle East Co W.L.L. Andrew will be responsible for all coordination and support to and between the Executive Committee, the differing Sub Groups and associated external organisations.
Andrew Deamer BBBF SIG (S) , OSAC & AMCHAM Partnership Continues to flourish with formal meetings held at the Intercontinental Regency Hotel and the General Organisation of Ports Building which included a visit of the new Khalifa Bin Salman Port. Intercontinental Regency Hotel The meeting was kindly hosted by the General Manager James McDonald where we were royally taken care of by all the staff throughout the gathering. We were very fortunate to have Major General Abdul Latif Al Zayani, Chief of Public Security at the Ministry of the Interior who presented his vision on the Private Sector Security Awareness Project, which is where Policing meets the Private Sector to work together in raising the security awareness in all areas. This presentation was particularly well received as our guest stayed with us for over an hour and took
time to meet and chat with those attending. We were also very fortunate to have Julian Davis, the Regional Manager for the Middle East for Salamanca Risk Management, presenting a challenging perception to living, working and the so called understanding of the world’s perception of Yemen. A thought provoking presentation that certainly made its mark.
James McDonald greets Maj Gen Zayani
of the complexities of what running a developing port such as the KBSP is really like. The port security operation, as a whole, is not one that can be taken for granted with the interaction with the many different agencies demanding extremely good and accurate reporting; both on land and of course on water. You do not really get a feel for the size of the port until you actually start driving around the site. Sameer acted as an excellent guide throughout the vehicle borne tour of which our collective thanks goes to Sameer, Ian and both their teams for taking the time out of their busy schedules to present such an outstanding facility. Further information can be found at: www.apmterminals.com/ africa-mideast-india/bahrain
Julian Davis Khalifa Bin Salman Port Visit (KBSP) Ian Rawlinson
Sameer A. Al Zayani
The Gathering Was hosted by Ian Rawlingson the Chief Commercial Officer, APM Terminals Bahrain and Sameer A. Al Zayani HSSE Manager and Port Facility Security Officer APM Terminals Bahrain. Both presentations certainly gave those attending a window
Weathered Eye Political unrest continues in countries within the European Union due to the unwelcome austerity packages that governments are having to put in place. How will this impact on the Region? Also the recent incidents involving the blockade of Gaza has
resulted in condemnation from Governments round the world. Should we expect large scale demonstrations here in Bahrain? Business Continuity Planning FRONTLINESMS allows you to text messages with large groups of people anywhere there is a mobile signal. We would appreciate any feedback if the reader has had any experience in using this tool. Further information can be found at: www.frontlinesms.com BBBF SIG (S) Membership - Ask yourself the following questions: 1. Is your company a security focused company? 2. Is your company a security industry company? 3. Does your company have a security element to its operations and if so who “heads it up”? 4. Do you or your company need to be kept up to date on security, guarding and policing issues? 5. Does your company’s orientation package encompass security awareness both in the workplace and leisure time? 6. Does your company’s security and safety policy reach out to the families of members of staff? 7. Does your company have a Travel Management Policy? If ‘yes’ to any of the above then you may want to consider the BBBF SIG (S) & OSAC as a forum for future attendance, advice & membership.
For further information please do not hesitate to contact Tony Palys on email@example.com
Bahrain HR Forum This is a forum that was founded in April 2009 meeting regularly with now 112 members. The objective of the Bahrain HR Forum is to advance Human Resources in the Kingdom of Bahrain. Areas of Focus: •
Share HR best practices
Discuss common business challenges
Increase understanding of local HR legislation
Create networking opportunities
Increase awareness and understanding of the HR profession within Bahrain to result in local Bahraini’s becoming attracted to the HR profession.
Create a partnership approach with government bodies i.e. providing feedback on policies.
The next meeting will be in mid June – and you can contact Membership Secretary, Feras al-Mejad on +973 3985-0510 if you would like to join or Jill Boggiss if you have ideas for a future presentation or workshop, firstname.lastname@example.org. Forum 17
Financial News HSBC’s Trade Academy - formal structured classroom-based training, conducted on a set curriculum HSBC is hosting interactive, classroom-style training workshops in Bahrain to equip business owners with the necessary skills and knowledge to capitalise on trade opportunities in 2010. Trade Academy is an innovative global initiative from HSBC which aims to convey traderelated information to the Bank’s corporate clients. It is currently run in more than 10 countries across four continents; Bahrain is one of the first countries in the region to deliver this programme. Presented in a series of monthly trade workshops, participants will learn about the processes associated with doing business internationally, as well receiving clarification on the nuances of trading successfully within the region and in key markets such as China and India. Ranjith Wanniarachchi, Head of HSBC Trade and Supply Chain Bahrain said HSBC’s Trade Academy demonstrates our commitment to helping our clients’ businesses grow. With our global reach and local expertise, we are well placed to help importers and exporters reduce their risks when engaging in cross border trade. In the current environment, our customers are increasingly looking overseas for new opportunities and are asking for help with their business decisions. As the leading trade finance bank in the Middle East, we are committed to helping businesses understand 18 Forum
In addition, HSBC’s Trade Academy also offers bespoke programmes for larger corporations with more complex needs. Seminar topics can be tailored to suit the industryspecific requirements of certain companies. HSBC Trade and Supply Chain’s recent accreditations include awards from: • Trade Finance 2009 – Best Trade Finance Provider in the Middle East and North Africa; Best Factoring Institution • Global Finance 2008 & 2009 – Best Supply Chain Finance Provider Middle East
the current environment and learn how to grow their business while protecting their company.” Jafar Amin, Head of Global and Commercial Banking, HSBC Bahrain, added “We have made tangible contributions to the trading business of our valued customers. We draw on the expertise of over 3,000 dedicated trade experts across 60 countries for relevant and up-to-date market insights.” Reinforcing HSBC’s position as a leading trade and supply chain services provider in Bahrain, sessions are conducted by HSBC Bahrain’s trade experts, who have over 25 years of
combined trade expertise. To date, more than 200 delegates have attended Trade Academy sessions in Bahrain representing over 100 companies. Each Trade Academy seminar is designed to provide comprehensive, yet ‘easyto-digest’ information along with updates on trade finance and trade-related topics. Scheduled 2010 seminar sessions include: • Module 1: Export DC Negotiation • Module 2: Documentary Credits • Module 3: Receivables Financing (Factoring) • Module 4: Import/ Export Financing
• Global Trade Review 2007-2009 – Leading Trade Services Bank in the Middle East & North Africa • Middle East Logistics Award 2009 – Best Trade Finance Bank in the Middle East • Global Finance 20092010 – Best Trade Finance Provider in Saudi Arabia For more information on Trade Academy along with the 2010 schedule, please visit our website at http://www.hsbc.com.bh/ 1/2/commercial/tradeand-supply-chain/tradeacademy or contact Hammad Zafar on 1756-9538.
Financial News RSA Insurance announce expansion plans RSA (formerly known as Royal & SunAlliance Insurance Company), one of the world’s leading and oldest insurance companies,has inaugurated its new office premises in Sanabis, Exhibition Towers (next to the LMRA building). This office move which is part of RSA’s ‘expansion’ plans,
aims to be more accessible and customer-friendly focused and enhance customer experience to a new level. This new office in Sanabis will cater to customers’ insurance needs including motor, home, travel and commercial insurance whilst also catering to the broker
First Energy Bank records Q1 profits of $3.96 million another successful year for the Bank. “
Mr. Esam Janahi, In May First Energy Bank (FEB) announced a net profit of US$ 3.96 million for the first quarter ending on 31st March 2010. FEB also reported a Gross Income of US$ 10.32 million, with a total Assets increase to US$ 1,242 million. Additionally, the total equity attributable to shareholders rose slightly to US$ 1,018 million. Commenting on the results, Mr. Esam Janahi, Chairman First Energy Bank, said, “The first quarter’s achievements are considered a solid and positive start to the year, and are testament to the attractive investment opportunities we are continuing to provide to our investors. We have set some strategically important goals for 2010, and we fully expect to achieve these goals and make 2010 into 20 Forum
“Despite the fact that FEB is a relatively new institution, we are strongly placed with solid backing from investor base, intact capital and tireless teams working to tap the multitude of investment opportunities that have shown up on radar over the past few months,” he added. Commenting on the way forward, Mr. Vahan Zanoyan, CEO of First Energy Bank, said: “Our strategy remains the building of a well diversified portfolio of quality assets in the global energy sector, spanning the entire breadth of the energy value chain, from upstream oil and gas production, to petrochemical, distribution, energy logistics and renewable energy sources.” The first quarter of 2010 was marked by FEB with the floating of the first of two “Friede & Goldman Super M2” jackup off shore drilling rigs, which are being constructed at the Maritime Industrial Services Co Ltd Inc (MIS) yard in Sharjah, UAE.
businesses. Rakesh Nayar, CEO RSA, said, “We welcome our customers and partners to our new office premises where I am confident that they will not only receive an international insurance proposition but also experience better customer service standards.”
Unicorn win two awards Unicorn Investment Bank (Unicorn), the Bahrainbased financial services group, has been named the Best Investment Bank in Bahrain by international business magazine Global Finance for the second year running. Global Finance editors, with input from industry experts, used a series of criteria to arrive at their selections. These included market share, number and size of deals, service and advice, structuring capabilities, distribution network, efforts to address market conditions, innovation, pricing, and after-market performance of underwritings. Unicorn has also been named the Best Islamic Bank in Bahrain by the pre-eminent Asia-focused business magazine, Asiamoney. In presenting Unicorn with the award, the editors of Asiamoney cited the Bank’s “extraordinary progress in the capital markets, and in innovation generally”. Unicorn recently announced the successful close of a US$450 million Sukuk for Dar Al-Arkan Real Estate Development Company in a landmark transaction
that is expected to set the benchmark for GCC corporate borrowers going forward. Issued in February 2010, the Dar Al-Arkan Sukuk marked the first international issue out of the GCC region in 2010 and the first Sukuk to be issued since the Dubai World debt standstill announcement in November 2009. Furthermore, as the first 144a issue by a company in Saudi Arabia, the Sukuk made it possible for US investors to directly participate in a Saudi Arabia issue for the first time. Commenting on the awards, Majid Al Sayed Bader AlRefai, Managing Director and Chief Executive Officer of Unicorn, said: “We are honoured to receive these two awards which recognise Unicorn’s progress and achievements in a difficult year for the global financial sector. We believe that Unicorn has a unique strategy, an innovative approach and, with Allah’s grace, the ability to successfully deliver its vision, and we are tremendously grateful for the support and goodwill of our industry peers as we continue to build a leading Islamic financial services group.”
Financial News Global Islamic Fund assets level at US$52 billion in 2009 According to Ernst & Young’s 4th annual Islamic Funds & Investment Report (IFIR 2010), the global Islamic fund assets stagnated at US$ 52.3 Bn in 2009, remaining at almost the same level as the US$ 51.4 Bn posted in 2008. In contrast, the global conventional mutual fund assets under management (AuM) exhibited signs of recovery from their lows of US$ 19 trillion in 2008, reaching $22 trillion in 2009.
2009 compared to 10 in 2008, and 18 in 2007. Also, the lack of investor confidence led to placing higher proportion of deposits with banks, rather than investing in funds.
Sameer Abdi, (pictured above) Middle East Head of Ernst & Young’s Islamic Financial Services Group said, “This trend is reflective of a distinct shift in investors’ preferences, and requires Islamic fund managers to adapt their strategies and operating models accordingly to meet the new levels of expectations.”
Stronger players that have critical AuM volume and are flexible enough to adapt to investors’ evolving financial needs stand to capture a more dominant market share.
The research reveals that only 29 new Islamic funds were launched in 2009, almost offsetting the 27 Islamic funds that were liquidated during the same period. New Islamic funds launched were at their highest number ever at 173 in 2007. Since then, this number has declined dramatically. The overall Islamic asset management industry, which includes funds and Islamic investment accounts, touched US$ 292 Bn or 31.1% of the total industry assets. This also underlines the predominance of investor deposits with banks. Islamic wealth pool still growing The silver lining for the industry is the continued strong growth in the overall Shari’a sensitive investable assets. Shari’a compliant investable wealth pool grew by 20% to reach US$ 480 Bn in 2009. In 2008, this was US$ 400 Bn. The GCC remains the single biggest contributor to this growing wealth pool. It clearly represents substantial untapped opportunities for local and international players who can understand and respond to their investors’ evolving needs.
Half of all Islamic funds may not be profitable The report revealed that almost 70% of Islamic fund managers are struggling to build scale and have under US$ 75 Mn in AuM, while 55% have less than US$ 50 Mn AuM. On the other hand, average fees charged by Islamic fund managers have dropped by almost 25% since 2006, and are expected to continue at this level for the foreseeable future. Profitability remains under tremendous pressure especially for smaller fund managers. Clearly, shake-outs and consolidations are the way ahead and will be in the best interest of the industry’s long term prospects.
Back to strategy Most leading Islamic fund managers are re-focusing on understanding their investors’ appetite post-crises. Rebuilding investors’ trust is of paramount importance and has moved up the priority list for fund managers. Several investor segments are showing early signs of recovery, also reflected by choice of riskier asset classes. Allocation to cash and money market products decreased in 2009 and there is a clear preference for larger, more established brands in the market. As fund managers try to re-discover the investors’ preferences, they are focusing on enhancing the quality of their offering, moving away from transactiononly approach to comprehensive wealth management solutions. There has been substantial investment in enhancing risk infrastructure, adopting flexible business models, segmented approach to accessing new customers as well as dramatic changes in fee and cost structures including more transparency and incentive based remuneration. All this also feeds into building stronger brands.
Shifting investor preferences
The fact that the Shari’a sensitive wealth pool is still showing strong growth, the opportunity is really for the fund managers who can quickly adapt their strategies to address clients’ requirements who are smarter and more demanding than what we saw earlier in the decades.
During 2009, there was a shift away from fund investments in traditional asset classes, such as equities and real estate funds, as a number of new alternative asset classes including Shari’a compliant ETFs and hedge funds were launched. No real estate focused funds were launched in
Ernst & Young’s Islamic Funds & Investment Report builds on more than 400 unique insights from key players in all major financial markets. A better understanding of these strategies can clearly help fund managers articulate new strategies for post-crises era.
Financial News The role of the Credit Bureau With the introduction of Corporate Governance, the word of the Credit Risk Officers or “CRO’s” will rank amongst the other Members of the board i.e COO’s, CFO’s, CIO’s and of course the CEO. Many would say this should have happened long ago and more so before the recent financial crisis. I can remember taking over a multi million dollar portfolio 18 years ago which looked in pretty good shape. In actual fact the over 180 day bucket had been kept away from the eyes of the owners as it was not good news; by coming up with a clear and precise strategy to handle the real value, which was almost triple, we laid the foundations of what turned out to be a huge business opportunity. In those days without Credit Bureaus you had to rely on gut feel however indicators from your own portfolio would sometimes support your decision. Unfortunately Credit Managers who are not aware of the worst case scenario or do not have access to comparative information can find decision making very difficult. Taking up Bank references from rival banks just opens up the door to competition or “Good for the purpose you require” usually meant that they were trying to dump the business on you. Judging your own customer base without being able to compare risk profiles puts the institution at risk, risk of losing money or the risk of losing good business. These days information is critical and lack of it often leads to wrong decisions. Recently the 24 Forum
rapidly changing economic indicators only lead to confusion whereas a reference to a central source of information would have advised regulators that the market sector was tumbling. The recent sub prime could have been avoided if the Central Banks and banks had access to information which would have indicated a worsening situation of housing loans lent into the Medium Risk Customers. Nobody likes to hear bad news but now a confident CRO can better predict the way existing portfolios are working while keeping an eye on predicting the market. After all, the stock markets have indicators by the minute so why should a bank's risk department not have the same and we are talking considerable amounts of money. I learnt a hard lesson from a Judge in a court where I was sending all my large default customers: “ You sold him the loan. You signed him up for the loan. You get it back and don’t bring anyone back here!” No point saying the book was something I inherited but I did learn that in this part of the world it is always the customers’ intention to pay back their loans - eventually. You just had to make it as easy as possible for them to do so while scientifically predicting the highs and lows of the business. With this in mind when I established my first Credit Bureau in Kuwait I realised that the core database has a wealth of knowledge however the system at the time could not be adapted to
provide this without further investment. Investment in bureaus with small bankable populations can be hazardous, unlike large countries where the income easily covers the set up and operating costs. Countries with less than 600,000 need very careful arithmetic to get started however the real value to the banks is when they want you to invest in cost effective products and services. More and more institutions will need to outsource the gathering of information in order to save money and a Credit Bureau with the entire correct data audit processes will provide a wealth of information for CRO’s.
customers in High, Medium and Low categories so they can compare their ratios with those of the country. Remedial action can be taken if there are more customers in high risk and a different approach to customers in low risk. At the front end any applicant who has a high score is likely to be a VIP customer allowing banks to increase their portfolios in this risk sector; acceptance can be immediate. If applicants fall into the high risk category then his application can be declined. Any medium risk applicants can of course be referred where a decision can be made to accept and at what rate.
With this in mind we designed the bureau database and core system so it would not just be a service where information is available at the front office, it is able to provide information to support risk & collection management. When they are armed with the correct information with the necessary triggers to help them the bureau becomes invaluable.
Currently most banks spend as much time with good customers as they do with high risk customers; often the good applicant is lost to a rival and more risk hungry bank even while the original bank is still deliberating over the ‘low risk’ and the ‘high risk’ applicants. The bureau provides both Credit Officers and Credit Risk Officers information that helps them strategically plan where they want to take the bank in terms of risk while good business is being signed at the front end.
The Bahrain Credit Bureau now provides a Country Score and the Bank Score allows Banks to compare their information with country statistics. This provides the number of
Robin Watson Head of the Bahrain Credit Reference Bureau
Bahrain to Host the 2nd GCC Cards Summit –November 1-3, 2010 ‘’Deliver: service consistency cultivates customer sustainability’’ Many financial service operators may find themselves focusing too much on preparing for the upturn and missed the opportunity to retain valued business through improved customer expectation management and service delivery. With a new paradigm upon the horizon (and customers becoming even more wiser trying to find financial services businesses they can trust) there could be no better time for Bahrain to host the 2nd GCC Cards Summit in Bahrain in which industry leaders from the Debit, Credit, Charge, Prepaid and Loyalty cards services industry will meet to discuss a wide array of topics that all address bottom line impacting aspects on the performance of their card portfolios. Veritas Events Executive Director Mr. Premal Patel is a key driving force behind the conference and noted that the purpose of the GCC cards Summit is to pull together industry thought leaders to discuss, debate and develop key conclusions on the sector. The Summit will address major issues and challenges with the ultimate aim of better understanding what it will take to succeed in the ‘’service’’ arena in 2010 and beyond. Mr. Patel remarked that “the summit will act as an ideal platform for industry experts to reshape their business strategies, take away practical business
solutions as well as network, share best practice, share their challenges, organise specific 1:1 meetings with potential partners and service providers, and better plan their marketing investments in 2010/11”. Patel added, ‘’We are joined by Arab Financial Services as our Platinum Sponsor and Bahrain Association for Banks as the Association Partner for this year’s Summit – no doubt we will have more partners on board over the coming months. The cards industry is an extremely attractive industry; however tough times have forced all business to take a critical look at how better performance from card activities can be achieved’’.
Premal Patel The conference will be held at the Ritz Carlton on 1st – 3rd November, 2010 : • 1st November – prepaid profitability workshop • 2nd -3rd November – Cards Summit (networking evening on 2nd November)
Anyone wishing to participate may contact Pemal Patel by email: premal@ veritasinvestments.me for more information or call +973 3672-1700.
Card service providers and those suppliers who span across the value chain are beginning to align business models towards more ROI impacting aspects, rather than relying ultimately on the top-line. There are a number of aspects that are critical to the industry’s success and growth, and these will all be covered in detail at the conference. Business volumes, Cost management, Risk & Compliance management, Acquisition profiling, Growth in pre-paid products and profit per customer are a few of the important aspects that will offer delegates key insights from industry leaders to better arm themselves with the knowledge and tools to ensure profitable outcomes, long-term. Forum 25
How to capitalise on emerging mega trends We are all faced with a series of great opportunities brilliantly disguised as impossible situations Charles R. Swindoll When written in Chinese, the word crisis is composed of two characters. One represents danger, and the other represents opportunity. While we have read and heard experts talk about the impact of the financial crisis and the recent European sovereign debt crisis, there are also opportunities emerging from the fundamental changes to the structure of the world we live in. Take for example, the concern that the world is becoming overcrowded. The planet’s population is growing exponentially. It has increased from around one billion people in 1900 to around 6.8 billion today. According to the United Nation’s projections, the world’s population will be close to 9.8 billion in 2030. The growth will be driven by the emerging countries while developed economies like Japan and Western Europe will face the challenges of an ageing population. This growth also represents opportunities. All these new people will have to be housed, fed, educated and employed and this throws up interesting prospects for infrastructure investments, knowledge based industries and labour intensive sectors. Similarly, the ageing population in Japan, Western Europe and America present a plethora of opportunities in the health, pension and insurance sectors to name a few. Linked to the increase in population is another mega trend of increasing urbanization. As the consultancy McKinsey observes, in China alone 350 million people are expected to migrate from farms to the cities by 2025. This is equivalent to the current population of Europe.
significant opportunity to upgrade infrastructure in developed countries. The estimated cumulative investments in infrastructure over the next 10 years is around $ 33 trillion with a projected price tag of $13 trillion in Asia, $7 trillion in Europe, $5 trillion in North America, $6 trillion in South America and a further $2 trillion in the Middle East and Africa. The global population growth also creates increasing demand for food, feed and fuel. With rising incomes, people increase their protein intake and calorie consumption increases significantly. To illustrate the impact this will have on feed demand, to produce just one kilogram of beef, you need eight kilograms of animal feed. While the world’s population is growing, the amount of available land is shrinking. According to the Food and Agriculture Organization (FAO), in 1990 there were 270 hectares per thousand people. In 2008, this fell to 210 hectares per thousand people, or 2.10 square kilometers per thousand people. This means the yield per unit of land must increase – creating opportunities in fertilizers, chemicals, hybrid and high yielding seeds, crop preservation and yield enhancement industries, as well as food processing and packaging. At the same time, energy demand is growing, but the world is running out of oil. While demand is rising, supply is finite. The optimistic forecasts are that oil production will max out in the next 20 to 30 years which in turn will cause shortages and sharp price increases. Opportunities lie clearly in increasing energy efficiency and finding alternate energy sources like wind energy, nuclear energy, solar energy and bio fuels.
Such rapid urbanization creates significant opportunities in the infrastructure value chain ranging from engineering and construction to maintenance and re-development.
So how does an investor benefit from these mega trends? There are multiple options, including Thematic Mutual Funds and Exchange Traded Funds (ETF’s) which are based around such trends.
When we think of infrastructure, we always associate the demand with developing economies. However, what tends to be overlooked is the
Thematic mutual derive their performance from understanding and leveraging key global themes. The belief is that over medium to long term,
superior performance can be garnered by riding the wave of inexorable themes. Unlike traditional mutual funds, thematic funds are not linked to any benchmarks. Examples of themes range from alternative energy, infrastructure, natural resources, re-cycling or genetics. An ETF is a fund traded on exchanges and its value is derived from the underlying assets it holds. It combines the features of a mutual fund with the tradability of stocks while ETFâ€™s have traditionally been linked to indices like S&P 500 or Nasdaq for example, recent years have seen the emergence of thematic ETFâ€™s. Since there are a plethora of options to capitalize on the mega themes, it is best to devise a plan suitable to your risk-return and time horizon through a qualified wealth management professional. About The Author Zuzar Mandarwala is Vice President, Local Commercial Bank Head & Wealth Management Product Head for Citibank N.A. Bahrain.
Neither Citibank N.A nor any of its affiliates, officers, employees or advisors, makes any representation or warranty, express or implied, as to, or accept or assume any responsibility or liability for, the accuracy, reliability, adequacy or completeness of any of the information set forth herein or shall be under any obligation to update or correct any inaccuracy in such information.
It's time to make a plan Volatile economic conditions have raised awareness among people in the Middle East for the need to make better longterm financial planning. Recent research indicates that some 42 percent of people in the market have failed to concentrate on their long term financial security. For many Middle East residents, the recent times have been their first experience of volatile markets. We all now hope that these are starting to fade into the past. This unsettling time has made a number of people consider and review their own financial security and well being but, not everyone has been prudent enough to have in place a financial plan to enable them to achieve their goals in life.
Use Your Computer
Your computer is an ideal tool to help you keep track of all those day-to-day purchases and review your budget on a monthly basis. You may be amazed at the amount of money you spend each year on small items like that morning cup of coffee. 7.
Schedule an Appointment with an Independent Financial Advisor
So to help those who do not have a plan or perhaps need to review it, we offer ten simple points for your consideration and to start you off:
It is essential that you consult with an Independent Financial Advisor (IFA). They will help assess your financial plans and in some cases help you to review financial areas such as your tax returns, investments, retirement plan, will and insurance policies. Your IFA will pinpoint areas where you may need more expertise, such as boosting your retirement income or improving your investment returns.
Define Your Financial Goals
Develop a precise, well-defined financial plan and include in it the goals that you want to achieve in life. Consider when you want to retire and should you have children, how will you fund their education. When do you need to replace your vehicle or buy that new home you have been dreaming of? 2.
Don’t Spend More than You Earn
Don’t use tomorrow’s income to pay for today’s purchases. Spending more than you earn will steer you onto the fast track to debt. Trying to just “break even” at the end of each month will not guide you along the healthy path to financial security. 3.
Prioritize Your Debts
List all of your debts and organize them according to the interest rate that you are paying. Those with the highest rates (such as credit card debt) should be paid off immediately. 4
Ensure that you save an amount of money each month. This will give you a sum to use for future purchases without having to pay interest or more importantly a sum to fall back on if hard times come around again. This also ensures better management of your monthly budget as you will have the discipline of making sure you provide enough for your monthly savings. 5.
Become More Financially Aware
You’ll find many excellent books, magazines and newspapers available focusing on financial affairs to help you better understand what is going on in the world of finance and importantly, how this affects you and your financial plans. 28 Forum
Stay in Close Contact with Your Independent Financial Advisor
Your Independent Financial Advisor can periodically review your personal financial plan and suggest changes in your programme as needed. 9.
Save Where You Can
We all like to buy gifts which can add up to a considerable amount in a year. One way of making gift buying cheaper is to look out for items on sale throughout the year. You may be able to find the perfect item months ahead of a celebration, if you are thinking about it in advance. In the same vein it may be cheaper for you to buy your gifts when you are travelling in a different country – buying gifts this way also opens up the opportunity to give more unusual presents. Many people also waste money on everyday things such as water, electricity, food, and on unused memberships for clubs. Money can also be swallowed up by failing to pay credit card bills on time or paying interest on loans. Consider making sure you shop at cheaper food stores, buy localbrand goods, only eat out once a month instead of once a week, start a car-share scheme, or making sure you look for deals on flights ahead of travelling - the list is endless. All you have to do is stick to a strict financial regime! 10. Reward Yourself for a Job Well Done When you reach certain financial goals, reward yourself. Positive reinforcement of your good work does wonders for your productivity. It might not be so difficult to budget if you know for example, that a weekend break or a meal in that special restaurant is ahead of you! After all, once you associate luxury with achievement, all that saving is much more worthwhile! by Raymond Nakfour General Manager Sales, Nexus Financial Services W.L.L.
Medical News Sexual Dysfunction Clinic Dr. Elham Atalla, the first qualified Bahraini Clinical Sexologist, has joined AMH to set up this clinic. She has a Masters of Sexology and Postgraduate Diploma in Sexology both from Curtin University, Perth, Australia. She is a Consultant Family Physician & Clinical Sexologist, academically qualified and specially trained in managing all
kinds of sexual difficulties, whatever the cause. Sexual problems affect individuals & relationships. Patients feel fearful or ashamed of their problem(s); suffering months and years without discussing their worries even with their partner. Sexual dysfunctions prevent the ability to experience
and maintain satisfying and functioning sex. They are very common and have diverse origins; physical, psychological, emotional or a combination of these factors. Contemporary approaches of sexual dysfunction management include behavioral and medical approaches. Dr Elham, being a consultant family physician, conducts more comprehensive and
Are you getting enough sleep?
Some of you will have read about recent deaths of athletes and football players at a very early age in their late 20’s. We all wonder how this can happen and there does not seem to be a straightforward answer. I was recently reading about some cardiology research into the effects of the lack of sleep and there may be a clue here.
Sleep is composed of two stages: REM (Rapid Eye Movement) and nonREM. The former helps in mental consolidation while the latter helps in physical repair and rebuilding. During the night, you alternate between REM and nonREM stages 4-5 times.
What are the main points? · Short sleep duration (<5 or 5-6 hours) increased risk for high Blood Pressure by 350% to 500% compared to those who slept longer than 6 hours per night As you know, high BP kills.
attacks. Even after getting adequate sleep later, the levels stayed high!!
· Individuals who slept less than 5 hours a night had a 3-fold increased risk of heart attacks.
· Just one night of sleep loss increases very toxic substances in the body such as Interleukin-6 (IL-6), Tumour Necrosis Factor-Alpha (TNF-alpha) and C-reactive protein (cRP). They increase risks of many medical conditions, including cancer, arthritis and heart disease. Paper published in 2004.
· Complete and partial lack of sleep increased the blood concentrations of High sensitivity C-Reactive Protein (hs-cRP), the strongest predictor of heart
· Sleeping for <=5 hours per night leads to 39% increase in heart disease. Sleeping for <=6 hours per night leads to 18% increase in heart disease.
· Young people (25-49 years of age) are twice as likely to get high BP if they sleep less.
The earlier part of sleep is mostly non-REM. During that period, your pituitary gland releases growth hormones that repair your body. The latter part of sleep is more and more REM type. For you to be mentally alert during the day, the latter part of sleep is more important. No wonder when you wake up with an alarm clock after 5-6 hours of sleep, you are mentally irritable throughout the day (lack of REM sleep). And if you have slept for less than 5 hours, your body is in a complete physical mess (lack of non-REM sleep ), you are tired throughout the day, moving like a zombie and
integrated counseling sessions. Counselling is conducted with respect for every person’s comfort level in a professional, ethical and safe environment. Sex therapy helps adults of all ages, people with chronic illness or disability, and those who are otherwise healthy. So if you or your partner have any concerns of a sexual nature you might consult Dr. Elham. on 17253447. your immunity is way down ( I’ve been there, done that ). If you are a sportsperson, especially a runner, you need an hour of extra sleep to repair the running related damage. One of the athletes who died did everything right: eating proper food, exercising (running marathons), maintaining proper weight, but he missed getting proper and adequate sleep, minimum 7 hours, and that may be what killed him. If you are not getting enough sleep (7 hours), you are playing with fire, even if you have low stress. We have all worked long hours when necessary but there is enough scientific evidence now to show that long hours, lack of sleep. too much overtime are all bad for your health and can kill you., If any of you are over-doing it, please ease off and get your beauty sleep.
Rob Grey Director Communications & Development American Mission Hospital For more information on Internal Medicine Call American Mission Hospital on +973 17253447 Ext 385
International Hospital of Bahrain expands its minimally invasive surgery unit surgery. The unit can also be utilised for Flexible endoscopy procedures.
The International Hospital of Bahrain (IHB) commissioned its new High Definition (HD) Minimally Invasive Laparoscopic system in May. The Evis Exera II Univeral Laproscopic Platform from Olympus, world leaders in optics, offers exceptionally clear, high definition imaging. This allows improved spatial image resolution compared to conventional laparoscopic systems. This high-tec surgical unit allows the surgeon to perform advanced minimally invasive procedures with relative ease. In addition the NBI allows for vascular mapping, being particularly useful in detecting certain types of cancers. The advanced unit offers a wide range of minimally invasive
The laparoscopic system offers outstanding HD imaging performance, from a single imaging platform for both medical and surgical specialities. The light source is from a powerful 300W Xenon light. The laparoscopic surgical procedure is digitally recorded and stored via the hospitalâ€™s PACS system (Picture Archive & Communication System).
surgical procedures including bariatric (weight loss) surgery; surgery for diseases of the
stomach, intestines and colon; thyroid surgery; urological surgery; ENT surgery and gynaecological
Investment in such technology as the PACS system and the Laparoscopic Platform further enhances patient safety and improved clinical outcomes.
Bahrain Construction Update Scott Wilson wins Queens Award for International Trade Scott Wilson Group plc, (“Scott Wilson” or “the Group”), a global integrated design and engineering consultancy for the built and natural environments, is delighted to announce that it has been awarded the prestigious Queen’s Award for International Trade 2010. This achievement recognizes the Group’s exceptional geographic reach and a highly skilled work force around the world which has led to international revenue growth more than doubling over the last six years. The Queen’s Award for International Trade is the most prominent award for businesses that demonstrate substantial growth in
overseas earnings and commercial success. The Queen makes the awards annually on the advice of the Prime Minister who is advised by representatives of the Government, industry, commerce and trade unions. The Awards are given solely on merit and competition is fierce. Scott Wilson, headquartered in the UK, has a worldwide network of 80 offices and 6,000 employees. It works with some 2,800 clients in over 80 countries and has been operational internationally for 85 years. International projects that the Group has worked on over the decades to date include Kai Tak Airport
Hong Kong, Asian Institute of Technology Thailand, Mombasa Water Supply Scheme Kenya, MTR South Island Line Hong Kong, Haramain High Speed Rail Saudi Arabia, Colombo Port Expansion Sri Lanka and the recently announced Izmit Bay Crossing in Turkey. Commenting on the award, Hugh Blackwood, Group Chief Executive, said: “It is an honour to receive the highly prestigious and internationally recognised Queen’s Award. It is testimony to the talent and dedication of our staff around the world. In 2006 we made a conscious decision to grow, build and strengthen our unified international business and
each year we continue to increase the proportion of our revenue earned outside the UK. We are now well established in some of the world’s highest growth areas and our global diversity has helped us to respond to the current economic climate. We are delighted that the Group’s achievements have been recognised by the UK Government and Her Majesty the Queen.”
Light at the end of the tunnel The Tabreed Northshore District Cooling project reached a major milestone in May with the completion of two 87-metre microtunnels underneath the King Faisal Highway. The parallel 900mm diameter insulated carbon steel pipes carry district cooling water from the Diplomatic Area Chiller Plant to Bahrain Financial Harbour, Reef Island and other Northshore developments.
densely populated urban areas will significantly reduce the cost of providing air-conditioning to offices, residential towers and shopping malls. Airconditioning is a major component of energy usage and analysts estimate that nearly 70% of all energy within the Gulf region is used for cooling buildings, essential during the regions hot summer months.
The Diplomatic Area Chiller Plant is nearing completion and it will supply chilled water to the iconic Bahrain World Trade Center alongside existing developments on the south side of King Faisal Highway. The design of the chiller plant incorporates significant capacity for future growth.
At a depth of more than 10 metres below ground, the tunnels were driven below the highway with zero impact on the heavy traffic above. Both were driven at an average rate of close to 6 metres per day and using a laser guidance system the team achieved driving tolerances within ± 20mm in each tunnel.
The network of chilled water and cooling to Manama’s
Using a Herrenknecht micro-tunnelling machine
Al Husam International and Atkins demonstrated on behalf of Tabreed District Cooling that chilled water piping systems can be quickly and efficiently installed beneath a city centre with virtually no disruption to the busy street life above. Atkins’ Site Operations Manager, Ian Cordingley expressed his appreciation of the work undertaken by the team. "It’s not easy to drill through 86-metres of earth with such little disturbance
to the surroundings. The team did a fantastic job in ensuring we deliver a chilled water network that will make the cooling of developments in Manama more economical and help in reducing Bahrain’s carbon footprint." It is anticipated that Tabreed’s Northshore District Cooling project will be complete this year and will supply 22,800 metric tonnes of chilled water per day to a growing population.
News from the Eastern Province part of the World and we wish him every success in this new venture. Turning to the Association, the total EP membership is currently running at 160 with new applications coming in every month. Jubail group, led by George Dinic, continues to hold regular monthly dinners including a very pleasant evening at Jim’s in Bahrain. Eastern Province continues to be very busy and clearly has not been hit as badly by the recession as other places. We also had the added distraction of the General Election and the installation of a new Government and now we look forward to the World Cup. Come on England… Sadly we said goodbye to HM Ambassador Sir Wiliam Patey KCMG and Lady Patey who left the Kingdom prematurely to accept a new challenge in Afghanistan. I know Sir William welcomes the opportunity to make a difference in this hostile
On the business side, our successful series of monthly dinners continue to be very popular and excellent networking events. In February, we welcomed Dr Abdullah Al-Dabbagh, President and CEO, Ma’aden who provided an enlightening insight into the history and forward thinking of the mining industry in Saudi Arabia. In March, the British Trade Office hosted the third Saudi-British Business Week and what a fantastic event it turned out to be. Almost 60 UK companies
Above: Geoff Fennah introduces the legendary Tommy Docherty to Martyn Wright and Andrew Dixon from TNT. Tommy who turned 82 in April this year was in Alkhobar to attend a BBA Dinner as part of Saudi British Business Week and proved to be a very lively and entertaining after-dinner speaker 34 Forum
The British Business Association (BBA) - Eastern Province P.O.Box 1868, AlKhobar 31952 Tel: 03 882 5288 ext 1651 Fax: 03 882 5384 Email: email@example.com Website: www.bbaep.com
participated in the event and preliminary indications are that some useful business opportunities were identified. The BBA contribution to the week was a Celebrity Dinner with football legend Tommy Docherty as guest of honour. Tommy turned out to be quite a character and very entertaining with everyone in attendance having a memorable evening. It was pleasing to raise over SR28,000 which was donated to the International Children in Need Group (ICING) charity. Congratulations to the British Trade Office, AlKhobar on a very successful week. I know that they all put a tremendous amount of effort into the arrangements and deserved the success.
been re-established and are proving very successful. A joint BBA / BBBF event was held at Riffa Golf Club, Bahrain in February. This event was a new venture and despite a clash with a golf day at Aramco on the same day the event was well supported and enjoyed by all the participants. The plan is to make the Golf Day a permanent part of our annual calendar of events – so start practicing now!
On the social front the regular quiz nights have
Geoff Fennah Chairman, EPBBA
If you have any ideas or suggestions for the BBA or need to contact us then feel free to call me directly or send an e-mail to our Secretary (Pamela) at firstname.lastname@example.org or contact via the website www.bbaep.com
Above: Chargé d'Affairs, Roddy Drummond with his wife Yasmin joined Head of the Trade Office David Harries and his wife Carol on the receiving line for the Queens Birthday Party in Alkhobar this year. Roddy will be in charge at the British Embassy in Saudi Arabia until the new Ambassador arrives in September.
Hotel News InterContinental Regency Bahrain gears up for renovation in upgrading the technical infrastructure in keeping with the requirements of the sophisticated clientele who frequent the hotel and in compliance with fastchanging environmental requirements.
Bahrain’s Iconic Hospitality address closed its doors for the first time in 30 years to undergo an exciting multimillion dollar renovation. InterContinental Regency Bahrain Management and Staff celebrated the closing and presented to the last guests an invitation to enjoy a free weekend stay in the new hotel when it reopens at the beginning of 2011. Special celebrations ended the last night of Clipper’s and Berdaouni with activities, promotions and prizes to thank all it’s guests for their continuous loyalty. The hotel has been part of many people’s lives, providing travellers far more than just a place to
sleep and an outstanding service, becoming not simply a home away from home, but a meeting hub within Manama city. The newly renovated InterContinental Regency will feature modern & high-
tech meetings and events facilities as well as new food and beverage outlets. These will include a steak house, Fish Market, International and Italian restaurants and a sophisticated entertainment venue. There is also considerable investment
“InterContinental Regency earned the loyalty and love of their guests by offering exceptional levels of service and attention to each and every detail throughout the years. It has captured a sophisticated style of hospitality, and after renovation we expect to become the leading five-star business hotel in Bahrain in terms of product, service and location” commented Director of Sales & Marketing, Cyril Mouawad.
Tennis Pro back at Country Club The Country Club, part of Hasan Mansouri, has recruited British Tennis Professional, Darran Ferre. Darran was previously with The Country Club, he knows Bahrain intimately and is happy to be back, ready to offer his tennis skills to all ages and skill levels. Darran Ferre is contactable on telephone 1759 3593.
Marriott Executive Apartments roll out summer promotion valid for any stay during weekdays and weekends. They also include free buffet breakfast and unlimited internet access. Aside from the existing “Escape Packages” and advance purchased rates, Marriott’s guests can choose from three new packages, such as; Bahrain Beach Package, Bahrain Movie Package and Bahrain Heritage Package. The Kingdom’s leading extended stay hotel, Marriott Executive Apartments Manama, Bahrain is set to launch its “Bahrain Summer Promotion 2010”. The luxury apartment is making Bahrain an even more attractive destination by offering special summer rates and new room packages to its
guests and residents in the upcoming holiday season. Starting from 18 June 2010 to 9 September 2010, the property slices its regular rate by 20%, giving attractive rates for both leisure and business travellers who visit Bahrain this summer. These special rates are
“Weekend travellers now can enjoy much more discount on their room rates and particularly visitors with families who book for 3 days or longer will get lower prices,” said Director of Sales Marwan Haddad. Additionally, according to Marwan, with the latest
three packages, visitors will have opportunities to enjoy more varieties of Bahrain attractions, from shopping at the best malls, recreation on a private beach, watching new released movies in the best theatre in town, to visiting Bahrain National Museum, Bahrain Fort and other places of interest on the island.
Hotel News The legendary Gulf Hotel triumphs at ATM by winning the 2010 World Travel Award for Bahrain’s Leading Hotel The legendary Gulf Hotel who recently debuted at the ATM in Dubai won the prestigious World Travel Award for the Leading Hotel in Bahrain. Votes for the World Travel Awards were cast by 180,000 travel industry professionals from more than 175 countries. Aqeel Raees, Gulf Hotels Group Chief Executive Officer said on receiving the award: “It is indeed a great honour to accept this award and marks a tremendous achievement for us as it is voted for by members of the travel industry across the world. The Gulf Hotel and Gulf Convention Centre established itself as Bahrain’s original fivestar hotel when it opened its doors in October 1969. Today, the hotel has secured its presence as the Kingdom’s first and most luxurious property, providing our guests with exceptional service and outstanding quality standards for over 40 years.” Graham Cooke, President & Founder of World Travel Awards remarked: “All of our Middle East winners have shown remarkable resilience to overcome the challenges of recent times, with an exceptional focus on excellent customer service and facilities that are simply second to none. Those companies that hold aloft their trophies are an example to the world, raising standards with determination, creativity and innovation. “I congratulate the team at The Gulf Hotel in Bahrain on their valued contribution to the global tourism industry. Winning a 38 Forum
World Travel Award is the ultimate accolade, and they can be justly proud of their outstanding achievement.” The Gulf Hotel, an independent Bahrainiowned property was originally built on beach land just a stone’s throw from the waters of the Arabian Gulf. Following numerous reclamation projects around the area, the Gulf Hotel now rests in the heart of Manama, directly opposite the city’s majestic Grand Mosque and a stroll away from the bustling Adliya touristic district. Situated just 15 minutes from Bahrain International Airport, the hotel is in a prime position for leisure and business travellers visiting the island. The hotel’s dedicated Platinum Floor boasts 38 luxuriously-appointed rooms and a complimentary Platinum Lounge offering some of the best views over the city and Gulf. Guests staying on the Platinum Floor can enjoy a range of additional services designed to provide the busy business traveller with a unique five-star experience. Complimentary services include use of
a private meeting room accommodating eight, private check-in and check-out, packing and unpacking services, VIP in-room amenities, deluxe breakfast, private bar, butler service, high speed internet and much more. The Gulf Hotel is well renowned for being home to some of Bahrain’s leading restaurants, making it an unmissable visitor attraction in its own right. With over 15 speciality restaurants, bars and cafés, the hotel prides itself on its gastronomy. Guests can choose to dine on a wide range of top quality and authentic cuisine, including Iranian, Thai, Lebanese, Chinese, Western-Asian Fusion, Japanese, Italian and Mexican. The onsite Gulf Convention Centre is the largest and most impressive conference facility in Bahrain, which has been firmly on the pick-list of conference and event organisers from all over the world since its launch in May 1997. The 21-roomed state of the art facility offers 5.600 square metres of space to perfectly cater for all sizes of conferences, exhibitions and meetings.
Although offering an outstanding service for the savvy business traveller, the Gulf Hotel should not be overlooked as a fantastic leisure destination too. First class recreational facilities include a large lagoon-style swimming pool, whirlpool spa, children’s pool and play area, fully-equipped health and fitness club, Jacuzzi and steam room, and expansive squash and tennis courts. This makes it the perfect location for tourists of all ages looking to enjoy the sights and entertainment of Bahrain. Whether visitors are travelling for business or pleasure, for one night or several weeks, to see all that Bahrain has to offer or to retreat to a luxury hideaway, the Gulf Hotel offers quality Bahraini hospitality and unrivalled facilities. Offering a calm and professional environment, while benefiting from easy access to Bahrain’s capital, guests will find an immaculate service that can cater for their every need. A team of professional staff, many of whom are on first name terms with regular guests, are equipped with a strong work ethic and a desire to create a personal atmosphere. It is this personalisation that sets the Gulf Hotel apart from its main competitors and ensures that it remains at the very heart of Bahraini hospitality. The Gulf Hotel Bahrain is a member of WORLDHOTELS, which is an extensive collection of the most unique and independent hotels around the world.
Bahrain News New location for Unisono In May 2010, the creative consultancy Unisono celebrated 4 years of positive growth. This momentous occasion was shared with a long anticipated move to the agency’s new designer offices at Exhibition Tower in Sanabis. The new strategic location is a visual eye-popping experience designed to get the creative juices flowing. The purpose built offices feature stateof-the-art technologies plus purposeful spaces including meditation space, a casual diner and a movie theatre. The styling blends modern pop and classical cues and shows the agencies new status as one of the most talked about agencies in the region. Co-founded by Amy Morgan and business partner, Liam Farrell, Unisono employs a dynamic international team of creative and strategic thinkers. As well as strategic consultancy, Unisono currently delivers a full creative service from Advertising to Branding and Interactive Digital design. Unisono’s brands have won many awards such as: Bahrain National Insurance (BNI) which won ‘Best of Nation’ by the World Logo Design Awards (Wolda) 2008, Majaal brand (developed for long standing client First Bahrain) which won ‘Best Industrial Development’, 2009 Gulf Real Estate Awards, while the Baytik Ijara brand (developed for KFH) won ‘Best Islamic Covered Card’ by Banker Middle East 2010. 40 Forum
Former Qatar Financial Centre Managing Director of Insurance and Reinsurance joins Kane experience in the regional and international insurance and reinsurance industry. Previously Managing Director of Insurance and Reinsurance at the Qatar Financial Centre (QFC), she was instrumental in the development of “Qatarlyst”, and the Qatar Finance and Business Academy.
Kane, a leading provider of specialist risk and insurance management services, announced the appointment of Fetooh Al Zayani as Senior Regional Advisor for the Middle East in May. In her role, Mrs Al Zayani will provide support to all of Kane’s operations in the Middle East. She will work closely with the company’s Practice Leaders to help them enhance their existing portfolio of services and develop new and existing client relationships. Mrs Al Zayani is a well known figure in the Middle East insurance market and has been at the forefront of many of its major initiatives. She has over 30 years of marketing, underwriting and senior management
Mrs Al Zayani said: “I am absolutely delighted to be taking on the role of Senior Regional Advisor at Kane. I have followed developments at Kane closely in recent years, from their initial discussions with businesses and regulators in the region, to becoming the first multidomiciled insurance management provider in the Middle East. Through its enviable team of industry professionals and clear commitment to the region, Kane is now well positioned to offer its extensive risk and insurance management expertise to a wide range of companies. I look forward to playing my part in the growth of Kane.” Commenting on her appointment, Stephen May, Chief Executive Officer, Kane said: “Today’s appointment is a major step in the ongoing delivery of our strategic growth plans and we are absolutely delighted that Fetooh has agreed to join the Kane team. Her experience and knowledge of the region is exceptional and will further enhance our ability to achieve the business goals which we have set. My colleagues and I very much look forward to working with Fetooh.”
BMMI appoints new Ad Agency BMMI Group (Bahrain Maritime and Mercantile International) has recently announced the appointment of Truly Middle East for its 2010 international press advertising campaign. Headquartered in the Kingdom of Bahrain, BMMI is a diversified retail & distribution and contract supply group with international operations spanning three continents. ‘With our continued growth and geographic expansion, we were seeking an agency to create a dynamic campaign to communicate the depth and breadth of our operations and international penetration’ says Laura Mejia, Quality Systems & Corporate Communications Manager at BMMI. ‘Our key challenge to Truly Middle East was to execute this in a way that would set us both apart from and above our competitors, and they have done this in a strikingly impactful series of advertisements’. BMMI specialises in the distribution, wholesale and retail of food and beverages, and represents a leading portfolio of global household name brands. The Group is also a growing international player in the provision of contract-based supply services for governmental, NGO, commercial and military organisations. Listed on the Bahrain Stock Exchange, BMMI is one of the fastest growing companies in its sector.
a natural partner
Just like nature looks after its own, BMMI is here to partner with you to meet your business needs. Our people perform to the highest international standards. We operate across industries, across the region and across continents. We are your natural partner for end-to-end supply chain solutions and logistics. We provide contract-based consumable and non-consumable products. We distribute food, beverages and household goods. Partner with us. PO Box 828, 812 Shaikh Jaber Al Ahmed Al Subah Highway, Sitra, Kingdom of Bahrain Telephone: +973 1773 9444 Fax: +973 1773 1186 www.bmmigroup.com An ISO 9001 & OHSAS 18001 certified company
Bahrain News BBBF Stand well attended at Bahrain International Garden Show “Seeds for our Future” was the theme for the recent Bahrain International Garden Show, held over 3 days at the Bahrain International Convention & Exhibition Centre, under the patronage of His Majesty King Hamad bin Isa Al Khalifa and opened by Her Royal Highness Princess Sabeeka bint Ibrahim Al Khalifa. Once again, the exhibition centre was transformed beyond belief as Spring came indoors and the vast halls burst into the lush, green and colourful highlight of the horticultural calendar with exhibitors from as far afield as Syria, Italy and Oman. The Bahrain British Business Forum’s stand was well attended throughout the three days and both the Chairman, Mr Khalid Al Zayani and Deputy Chairman, Mr
Austin Rudman were on hand to welcome Her Royal Highness Princess Sabeeka bint Ibrahim Al Khalifa to the exhibition. The companies who took advantage of exhibiting their goods on the BBBF stand this year were: John A Davies Landscape Consultants, The Bookcase and CCMI.
BAE Systems Bahrain appoints new Penny's appoint new team member Country Manager in Bahrain and expand to Oman Following a review of its r e g i o n a l offices, BAE Systems is delighted to announce the appointment of Ali Hassan as the new Country Manager for Bahrain. The current General Manager, Mark Burgess, will leave Bahrain this Summer to take up a different role with BAE Systems in South East Asia. 42 Forum
and expect to announce the opening of a new Cafe in Sohar in just a few weeks time.
Ali, who joined BAE Systems in September '09, will be the first Bahraini to lead BAE System’s office in Bahrain and his appointment further reinforces the company’s commitment to Economic Vision 2030 and the development of world-class Bahraini talent. Ali is already a BBBF member and he looks forward to meeting BBBF members at forthcoming events.
Penny's restaurant company, providers of high quality foods for many business and individuals in Bahrain have announced the arrival of Louise Lloyd. Louise, pictured above, joins the Bahrain team from Liverpool in the UK. In other news, Penny's have recently taken on the catering for the Sohar International Port Company in Oman
In Bahrain they will shortly launch a Party Catering service, for both adults and children. Penny's in Bahrain is British owned and managed and is ISO 22000 registered.
Bahrain News Trowers & Hamlins recruit four new solicitors to Bahrain office Trowers & Hamlins, the City and international law firm, has appointed four new solicitors to its Bahrain office within the real estate, corporate and banking departments. The new solicitors are: • Peter Hawkes, who joins the real estate team from UK law firm Cobbetts, taking the number of lawyers in the real estate team to six; • Timothy Goh, who joins the corporate team from Allen & Gledhill in Singapore; • Rizal Mansor, who also joins the corporate team, from UK law firm
Wedlake Bell; and • Niall McMorrow, who joins the banking team from Bahrain based consultancy firm Keypoint, having previously worked at Lovells. Dominic O’Neil, Resident Managing Partner of the Bahrain office, comments: “We are delighted to welcome these new solicitors to our Bahrain office. Their experience and expertise will add a lot of weight to what are three key practice areas for our office in Bahrain.” “It is a testament to Trowers & Hamlins’ reputation in Bahrain that we are still able to grow our office in
the current challenging market.” These recruits follow on from the promotion of Jeremy Ingham as a partner in the banking team in April this year, making him the sixth partner in the Bahrain office. Trowers & Hamlins’ Bahrain office is the largest international law firm in the country, advising a number of Bahrain’s leading institutions. Recent mandates include: • Acting as legal advisor to Bahrain Airport Company on the commercial overhaul, expansion and redevelopment of Bahrain International Airport; • Being appointed as administrator to The
International Banking Corporation, one of two banks to be put into administration by the Central Bank of Bahrain last year; • Acting for Tadhamon Capital BSC (c), a Bahrain-based investment firm on a Shari’ah compliant private equity investment involving a joint venture collaboration with a Malaysian operator in the roll-out of a wasteto-energy project in Colombo, Sri Lanka; • Advising in relation to @bahrain, a flagship business, technology, retail and leisure project to be built alongside the Bahrain International Circuit.
Bahrain News New CEO at GMI Jonathan Trafankowski is the newly appointed CEO of Gulf Markets International W.L.L. (GMI) the trading arm of the Al Fanar Investment Holding Group owned by His Excellency Abdulnabi Al Sho’ala the former Minister of State and Minister for Labour. Jonathan is a qualified Chartered Accountant from the UK and has over 30 years experience in varied sectors. Apart from living and qualifying in London, he has worked in Zambia and South Africa for 18 years. Here he gained experience in trading, working for Rennies International, the trading arm of the Renfrieght shipping group. He was also Finance Director of EMCOR, Drake & Scull a leading Facilities Management company.
In 2005 he fell victim of the South African black empowerment programme and decided to return to the UK. Whilst in the UK he worked for Babcock & Brown an Australian investment bank as Group Financial Controller for Structured Finance in Europe. Then he moved to Head of Treasury and PFI’s for Servite Houses a Registered Social Landlord. Both of these positions kept him in touch with Project Finance Initiatives, an area of expertise he gained whilst in South Africa. His career has also exposed him to investment banking, pharmaceutical, freight forwarding and general management. Jonathan’s career has led him to deputise for various CEO’s he has worked with and it was only a matter of time before he assumed such a position. The move to Bahrain has
allowed him the opportunity to finally be recognised as a CEO in his own right. GMI is a leading trading house that has been operating in Bahrain and GCC for the last 37 years. Its businesses include, building supplies, agriculture and chemical supplies, lift and escalator installation and maintenance, medical supplies, government tenders, various agencies and a provider of ITC solutions.
GMI also has investments in subsidiaries and associates that cover Industrial trading through ITSS, fabrication and construction through Scan Tech International and the manufacture of industrial filters through Bahrain Industrial Filters. Sponsorship is another activity that GMI is involved in. The most recent is the creation of imad, a network of the best in British consulting covering
Architecture, Engineering, Landscaping and Project Management. The success of GMI must be the stability of its staff with some people being with the company for over 25 years. GMI is also a family business with two daughters and two son-in-laws taking an active role in the running of the businesses. The Al Fanar Group, which GMI is part of, also has Prime Media & Al Halil Hospital included in its activities.
Management Extension Programme for young Yeminis The Pitt Group, with the co-operation of the Crowne Plaza Hotel in Bahrain, are organising a Management Extension Programme for young Yemeni managers currently working in the oil and gas industry in the Republic of Yemen. The five day programme will allow the twelve selected participants to learn key management skills outside their comfort zone. The input
New supporter for Forum magazine Fine Foods an integral part of Hasan & Habib Sons of Mahmood Group was established in the 1940’s by the late brothers Hasan Mahmood and Habib Mahmood. Their primary business was the import & distribution of food items such as Fruit & Vegetables and Shipping & Construction. Since 1975 the Group has been run by the second generation with Ali Hasan Mahmood as Chairman and Fareed Hasan Mahmood as CEO. Since then the Group has expanded tremendously and presently is one of the largest companies in Bahrain with diversified interests having 26 different companies and divisions employing over 700 personnel. HHM Group is closely connected to the business community and Government Ministries in the Kingdom of Bahrain due to its long standing history of services provided to the public sector. Fine Foods, a division of Hassan and Habib Sons of Mahmood is the largest Food Service Supplier in the Kingdom of Bahrain, which carry some 6000 quality
product lines from all around the world supplying Airlines, Flight Catering Kitchens, Hotels, Restaurants, Schools, franchised Fast Foods and many other catering outlets. The company expanded its operations to encompass Ships Chandelling hence Fine Foods Ship Chandelling was formed and is a member of the International Ship Suppliers Association (ISSA). Fine Foods Ship Chandelling is specialised in supplying food and non food items to visiting Naval ships of all nationalities and also being an accredited supplier to NATO Navy Vessels, in and around the Persian Gulf, Middle East, North Africa and the Indian subcontinent. Advanced Bakery Solutions (ABS) Although Fine Foods carries a wide range of Bakery ingredients within its range of products, it was a management decision to establish a dedicated division to purely handle a complete and comprehensive range of ingredients for the bakery & pastry industry. ABS now stock some of the leading brands in the industry and supply Hotels, Restaurants,
will be provided by the PITT Group and guest speakers from Bahrain companies. The participants will get the opportunity to visit related industries in Bahrain and meet with Bahraini managers holding similar positions to themselves. The key objective of the programme is to open participant’s minds to new management techniques and to see how Bahrain has grown through the development of
Bakeries, Airlines, Coffee shops and Caterers. Fine Foods Catering is another of Hasan and Habib Sons of Mahmood Group of Companies and has a long history of catering and related services to Airlines, Schools, Hospitals, Security Establishments, Hotels and the Armed Forces of different nationalities, locally and regionally. Fine Foods Catering with HHM Group of Companies has the total capabilities of turnkey operation whether on land or at sea under one management structure, from a simple catering operation to full camp building, maintenance and life support services. Eastern Bakery is another division of Hasan and Habib Sons of Mahmood Group and has been supplying premium quality breads and confectionery to Hotels, Restaurants, School and in-flight catering for over 50 years. Furthermore Eastern Bakery is an approved source for catering related products to the US Forces. With Eastern Bakery’s knowledge, expertise and experience provide support
To advertise in the next editon of BBBForum magazine please call Caroline Wilkie on +973 3671-8115 or email email@example.com
the local workforce. If any BBBF member would like to participate in the programme, or offer hospitality in their organisations which should include interaction with successful Bahraini managers, please contact Dr Joe Dunn via e-mail: firstname.lastname@example.org to the HHM Group divisions in particular supplying Fine Foods Catering with all its bakery confectionery needs. In addition Hassan and Habib sons of Mahmood Group own and operate several other Divisions such as Gulf Cold Store & Ice Plant Company, HHM Consumer Division, Advanced Marketing and Distribution Company, HHM Fruit & Vegetable Division, Awal Food Factory, HHM Construction & Maintenance, Euro Gulf, Swift Logistics, Al Jazeera Shipping Agencies, Bahrain Juice Filling Factory and United Marketing International.
Change of Company Name BBBF Member Simon Fisher writes to advise that with effect from 7 March 2010 Heritage Insurance Management (Bahrain) W.L.L. has changed its name to Kane Insurance Management W.L.L. The contact details are: Almoayyed Tower Seef District P.O.Box 20206, Manama Tel: 1711-1020 Fax: 1758-0982 email@example.com Forum 45
Bahrain News Celebrations continue at the "Best Social Club in the World" The British Club this year celebrates its 75th Anniversary, and many events have been organised in recognition. Some have already taken place, the biggest to date being on our chosen anniversary date of 6th May.No records remain unfortunately of the exact date the club was founded, but from what we do have May seems a likely month. On 6 May we were very pleased to be able to welcome HRH The Duke of York to a lunch with BBBF members. After the lunch His Royal Highness met members of the club, including a lively exchange with some of the children and not only presented the Chairman of the British Club with a plaque to celebrate 75 years, but also congratulated the club on recently winning the UK Telegraph’s “Best Social Club in the World” award. We were delighted to win this award, managing to beat off competition from expatriate clubs and organisations all around the world. In the evening more than 500 people attended a show poolside at the
club, with three tribute acts “Madonna”, “Tina Turner” and “Killer Queen”. This was a great success, with the celebrations lasting well into the early hours of the morning. We’re also well underway with renovations to the club’s outside areas, which should be completed by the time the next edition of this magazine is published. We’re looking forward to 75 more years! Below: HRH Prince Andrew, presents a plaque celebrating the Club's 75th Anniversary
Above: James Flint, Editor of the Weekly Telegraph, presents Bill Frost, Chairman of the British Club, with the award for Best Social Club in the World.
The Globe Cocktail Lounge Enjoy a relaxing drink before ordering from our extensive Concorde Restaurant menu or try one of our famous cocktails in a comfortable setting. The lounge is located opposite the Coffee Shop. Belgrave Arms Decorated in a traditional pub style this bar is opened from 12 noon until 11pm.
The John Clarke Lounge Comfortably furnished and decorated in cool pastel shades, it’s the ideal place to meet friends or just relax. Situated adjacent to the Coffee Shop, refreshments and snacks are easily available. The John Clarke Bar A quiet, smoke free environment with a pleasant atmosphere, situated off the above lounge.
Sports Bar The Sports Bar is adjacent to the poolside area and is open from 12noon on SaturdayThursday and from 11am onwards on Fridays and on public holidays. Coffee Shop Adjacent to the Lounge, the Coffee Shop is open seven days per week from 10am until 10.30pm.
Ascot Restaurant The Restaurant seats 85 persons and is open for lunch from noon until 3.30pm and for dinner from 6.30pm until last orders at 10pm daily except Fridays when the Restaurant closes at 3pm.
Poolside There is a swimming pool, children’s pool and poolside kitchen. Waiter service is available with a varied menu. Surrounding the pool are sun-loungers, chairs, tables and adjacent there is a lawn where one can relax and sunbathe, eat or drink and at the same time watch the children on the sanded area which has children’s play equipment. Library Situated above the changing rooms, access may be gained by the adjacent stairs. It has approximately 7,000 volumes in the adult library and 2,500 in the junior library, with regular additions. Gallery Bar Situated along from the Library, this room is used for private parties, seminars, small functions etc. Members may book this room for private functions. Windsor Room A large hall used for entertainment and indoor games such as badminton, aerobics and social functions. An excellent stage and dressing rooms add a professional touch to shows and productions. A function bar services the hall and buffett lunch is provided on Fridays from noon until 3pm.
Health Club – “Velocity Fitness Studio” Here we have state of the art facilities – all you need to keep fit. Our highly trained, dedicated fitness instructors will be only too pleased to help and advise you on your personal fitness needs. Our Mission Statement “To meet and exceed members’ expectations through quality service and instruction and to provide a safe and motivating environment”. Sports & Leisure Activities For raqueteers, we have two flood-lit tennis courts and an active tennis league for those who enjoy the competitive edge. For the very fit and wouldbe very fit, our squash courts have excellent facilities. Other sports activities include Cricket, Darts, Cycling, Football, and Aqua Aerobics. Other activities of interest available are Drama, Line Dancing, Badminton and Tae Kwon Do.
Bahrain News HRH the Crown Prince and US President Bill Clinton meet with CPISP Alumni and students His Royal Highness the Crown Prince and Deputy Supreme Commander Prince Salman bin Hamad Al Khalifa and US President Bill Clinton met with graduates and students of the Crown Prince’s International Scholarship Program (CPISP) at Riffa Palace, during President Clinton’s short visit to the Kingdom of Bahrain. HRH welcomed President Clinton, stressing deeprooted friendship and cooperation between Bahrain and the US in various fields. He said that Bahrain was taking the steps to build a knowledge-equipped
generation capable of engaging in various fields to actively take part in the development of their nation, which comes as part of Vision 2030. CPISP
DHL launches "Express Easy" in Bahrain DHL Express has launched "Express Easy". A new packaging range designed to simplify its shipping services for customers and reduce its environmental impact, Express Easy is now available to customers in Bahrain, as a phased deployment plan progressively replaces current branded packaging items across the Asia Pacific. John Pearson, CEO, Asia Pacific and Eastern Europe, Middle East and Africa, DHL Express, said, "With Express Easy, customers can look forward to a suite of standardised packaging with all inclusive pricing. Made from recycled material, Express Easy is also a more environmentally friendly packaging range supporting DHL Express’ GOGREEN environmental protection strategy." 48 Forum
The DHL Express Easy packaging range extends from an envelope to a pallet box, and includes a set of seven boxes of different sizes and two triangular tubes. Roland Thomas, Vice President Global Products at DHL Express, said, "This versatile packaging range really does satisfy the majority of our customers’ shipping needs. We can manage any parcel from 500g to 25kg, cater to a variety of shapes and with our patented pallet box, we can increase the weight range to 100kg." Further customer benefits of the flat pack design are evident in the reduced storage space required and in the reduced time for assembly.
Dalal Moosa then gave a presentation on the CPISP, and spoke about her experience as a Crown Prince scholar, and the opportunities she received as a result of earning a CPISP scholarship.
President Clinton praised the CPISP’s efforts to develop Bahrain’s talented youth and create future decision makers, and praised Bahrain’s overall development. He also answered questions regarding policy making and the global economy, and spoke about the goals and aims of the Clinton Global Initiative. President Clinton went on to stress the importance of education, and said he was impressed by the achievements and high capabilities demonstrated by CPISP scholars. He extended an invitation to all CPISP scholars to visit the Clinton Global Initiative offices in New York, and wished them success in their future endeavors.
New partner at BDO Bahrain BDO Bahrain is pleased to announce the appointment of Peter Petyt as Partner in charge of Corporate Finance and Management Consulting. Peter qualified as an accountant with Deloitte in 1989. He then spent ten years in industry in the UK and two years in the internet sector before commencing his corporate finance advisory career in 2001 with London based Pridie Brewster. In 2004 he joined UHY Hacker Young, where he took over as head of corporate finance at the end of 2005. In September 2006 Peter and his team were invited to establish the London and South East corporate finance division of AIM quoted Begbies Traynor and then in 2008 Peter launched his own boutique Decision Capital
which was sold prior to his move to BDO Bahrain. Peter has an excellent reputation as a corporate financier and strategic advisor, having worked closely with the SME community and large international businesses during his advisory career. His funding network is extensive and his corporate network spans the financial services, clean technology, software and IT, telecoms, real estate, retail, recruitment and engineering sectors. Peter has a degree in Modern Languages from Oxford University and holds the Advanced Diploma in Corporate Finance. He is a former Deputy Chairman of the Corporate Finance Faculty. For contact details see Page 5.
Bahrain News DHL launches new website for customers: easier access to contacts and information in focus DHL, the world’s leading logistics company, has relaunched its global web presence www.dhl.com along with 140 DHL country sites. The new website, which is focused on better meeting customer requirements, will offer a more user-friendly access to all logistics and global mail services. The new DHL.com integrates all DHL business units and ensures that the more than 300,000 daily visitors find their way to the resources they need. The site also includes local and global career opportunities, provides material for journalists and delivers comprehensive information about the Group Deutsche Post DHL. The relaunch of the global presence and all country websites covers some 80,000 web pages which service 40 different languages. Says Christof Ehrhart, Executive Vice President Corporate Communications at Deutsche Post DHL: "The new DHL.com provides an easy access to all services offered by DHL globally and places real needs of DHL customers who visit us online in focus. The website is another step on the way towards making our services and products easier to use and further simplifies the process of getting in touch with the right person." The new DHL.com website is implemented to strengthen the "ONE DHL" approach as featured in the Group’s Strategy 2015 and actively supports DHL’s brand values by offering 50 Forum
proactive solutions, personal commitment and local strength worldwide. The new website represents a key marketing, sales and communication channel for DHL and its customers. DHL had more than 110 million visits on its websites in 2009 and these numbers are increasing steadily. Interactive experience of the DHL brand As part of the relaunch activities, DHL also started a completely new website with insights into the DHL brand: www.DHL-brandworld.com. The website allows a glimpse behind the scenes of one of the leading brands in logistics and offers both information and entertainment. The mission of DHL, its brand values and customer success stories are part of the website as well as news about worldwide advertising, marketing campaigns, its partnership with Formula 1, Fashion Week, Leipzig Gewandhaus Orchestra and others. DHL invites the user to participate in special digital events such as following experts from Formula 1 via Twitter or playing virtual games. The DHL Brand World builds a platform of interactive brand experience. Wolfgang Giehl, Senior Vice President Corporate Brand Marketing at Deutsche Post DHL, says: "We enter into a new area in brand communication beside the classical media. With the new DHL Brand World, the user can feel the heartbeat and the passion of the DHL brand."
Cluttons appoint new Bahraini professionals As part of its continued efforts to achieve its strategic objectives and future vision, Cluttons has announced the appointment of Ammr Donia and Bassam Kameshki within the Middle East Valuation and Strategic Consultancy Teams. Mr. Tim Glover, Chief Executive Officer of Cluttons, said: “On behalf of Cluttons I wish to personally welcome Ammr Donia and Bassam Kameshki who I consider will be very valuable assets to our firm. They bring new skills and contacts to enhance our already strong teams.” Ammr Donia has already been working for 5 years in the real estate market in the Kingdom and has extensive Management and Agency experience. He has advised local and international clients
on several development projects within Bahrain as well as schemes across the Middle East and North Africa. Bassam Kameshki comes to Cluttons with a strong knowledge of Property Development, having worked for a couple of major developers. He has been involved in a diversified portfolio of large scale projects in the region, dealing with several international clients. “Cluttons has been serving the region since 1976”, Mr Glover added. “The recruitment of Ammr and Bassam is another step in our plan to attract highly qualified young professionals capable of developing and offering high levels of products and services to our clients throughout the region.”
Bahrain International Travel Group launch new website The Signature Collection, the leisure & hospitality marketing and consultancy arm of the Bahrain International Travel Group has just launched its new web site at www.scbahrain.com The Signature Collection is a unique product in the GCC whereby it recommends hotels and resorts throughout the destinations featured whose properties offer a unique design character, often reflecting a flavour and interaction with the environment in which they are located. The featured properties don’t all
have to be super-luxury, but they do need to be special and offer the guest an exceptional accommodation experience. Unlike many promotional sites, the Signature Collection does not seek to channel the purchasing process through its own site, rather it leaves the consumer with the freedom to choose how they wish to make further enquiries or make reservations. In this way, the impartiality and integrity of the Signature Collection as a product which is devoutly ‘customer focused’ is retained.
Bahrain Young Business Leaders offered Trip to Wales Following a suggestion from BBBF Member Talal Almoayyed, The PITT Group, in conjunction with Regional Vice President of International Business Wales (IBW) Lee Jennings, is organising a self financed visit to Wales for a number of young Bahraini business leaders later in the year. The programme includes one day spent as guests of IBW at the Welsh Assembly during which there will be a presentation of potential business links between Wales and Bahrain. These links could involve export/ import opportunities, business joint ventures, technical expertise programmes and similar support services.
The second and third days of the trip will involve participants visiting preselected companies to investigate trade deals. Wales is able to offer many opportunities across a broad spectrum of business sectors. For more information, or to put forward your name for the trip, please contact Dr Joe Dunn of the Pitt Group via e-mail: firstname.lastname@example.org International Business Wales is the business marketing arm of the Welsh Assembly and has in excess of four hundred business members based in Wales.
Norton Rose promotes two to Of Counsel in Bahrain International legal practice Norton Rose Group is promoting two senior associates to Of Counsel in Bahrain. The new promotions took effect from 1 May 2010 and follow the recent announcement of two new partners in the Middle East, in the Abu Dhabi office and associated office in Riyadh. Of the promotions, one was in dispute resolution, Adam Vause, and one was in projectsandinfrastructure, Joanne Emerson. This follows on from the arrival of senior associate Mark Adams who has relocated to Bahrain from Norton Rose Hong Kong and specialises in banking and aviation finance transactions.
Resident partner of the Bahrain office, Dominic Harvey commented: â€œThe promotions and expansion of our team highlight both the key strengths of our business and the strategic importance of international growth for Norton Rose Group. We have a very experienced team in our Bahrain office and have expanded our practice to ensure we can offer onthe-ground expertise in all aspects of banking and Islamic finance, asset finance, construction, projects and infrastructure, corporate finance, real estate and dispute resolution.â€?
Career Expo 2010
the opportunity to meet 20,000 Bahraini teenagers - all considering their future working lives. Any BBBF members whose companies depend on attracting young and talented Bahraini staff need to be represented at this exhibition. Young people about to leave school, as well as university graduates, visit this exhibition to learn more about organisations and careers.
OK, before I write anything about the ipad, I have to confess that I have a bit of a love/hate thing with all things Apple at the moment.
The 2008 Expo attracted over 20,000 visitors and participations from around 160 organisations, including corporate companies, universities and colleges, and other educational institutions; representing a
variety of sectors such as: Science and Engineering; Banking and Finance; Hotels and Hospitality; and Petroleum and Gas. Also, international exhibitors from all parts of the world took part in the Career Expo.
The Career Expo project is a non-profit, voluntary, community effort, which began ten years ago, and is jointly organised, by the government, private sector and the National Society for Support of Education & Training (NSSET). The Expo will be held at Bahrain International Exhibition Center (BIEC) on 9th -11th November, 2010.
In the Spring 2010 edition of Forum we ran an article from BBBF Member Kevin Craig with a note from the Editor that Kevin was the only Certified Professional Coactive Coach (CPCC) in the Kingdom of Bahrain. The statement was made on the basis of the information available to us at the time the article was written. New member Shirley Dockerill has asked us to mention that there is now at least one other CPCC working in the Kingdom, a lady called Ms Lorraine Somersall-Weekes. Whilst we are happy to point out the error in the original statement we would ask readers to note that we are not in a position to verify statements made by any of the article contributors. 52 Forum
The three-day Expo targets Bahraini secondary, higher education students, vocational students, jobseekers, parents and the community at large, in an effort to enhance Bahraini students and jobseekers understanding of the professional world, and to guide them in choosing, or changing, their careers; thereby enriching job prospects and the quality of the Bahraini workforce. “Career Expo 2010 will provide an unparalleled opportunity for employers and training providers to
meet face to face with students, and those wishing to improve their employment situation through exhibition stalls. As a consequence of the Expo, Bahrainis will be better informed, better prepared, more suited to the work they choose to undertake, and fully aware of work realities. This is an opportunity for your organisation to signal its commitment to the development of the Kingdom’s workforce and future decision makers and consumers by participating in their guidance and direction” said Abduelellah Al Qassimi, Chairman of NSSET. Sponsorship packages include: Platinum, Golden, Silver, Bronze and In Kind, and Exhibition Stalls, all of which you will find to be really beneficial in terms of exposure. There is TV coverage and considerable press coverage of the event. Details can be obtained from Jill Boggiss at Ernst & Young email@example.com or Saeed Abdulla Asbool firstname.lastname@example.org
I used to love some of their computing kit, and their original ipod has undoubtedly changed my life. However I was seriously hacked-off recently when the new ipod I bought failed to work with any of the speaker sets I already own and the store eventually advised that NONE, I repeat NONE of the new 5th generation nanos would work with any of my older equipment, something they'd failed to mention when they took my cash! So when the new wireless transmitter I purchased failed after only two months and I was told there was NO, I repeat NO, guarantee with "accesories", I almost threw it away. So why do I mention this? I had hoped that the ipad might be on my shopping list - it is simply the best tablet yet on the market but would I buy one? With no camera for web chat, no layout options for the virtual keyboard, problems with the refective screen, reduced WiFi signal reception, USB charging issues and no Flash support, think I'll wait for the problems to be ironed out by others before I invest in yet another new toy!