Gulf Insider November 2014

The multi-award winning Arabian magazine

WORK for PLAY see page 36

The Arabian Review

Issue 118

Special Feature:

A Guide to Bahrain’s Property Ladder Watch Review

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A CHALLENGE FOR BAHRAIN HH Shaikh Nasser bin Hamad Al Khalifa

WORK Special Feature

A GUIDE TO BAHRAIN’S PROPERTY LADDER Business

GROWING STONG Business

IF YOU’VE GOT IT, FLAUNT IT! Affairs

SALARIES EXPECTED TO GROW IN GCC Affairs

OBAMA’S HANDS-OFF APPROACH IN ME Affairs

MISSING AIRCRAFT

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CONTENTS

November 2014

19 40 27 46

Travel

28 48

Style

31 52 32 60

Style

34 64

Art

HOTEL INSIDER REVEALS SECRETS Life

FINE DINING: LUNCH BUFFET AT LA MED

WATCH REVIEW: OMEGA SEAMASTER PLANET OCEAN

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CAR REVIEW: ROLLS ROYCE GHOST II

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The Arabian Review

COMMENT...

Publisher & Editor in Chief - Nicholas Cooksey Editorial - Agnieszka Piechoska

Huff Post, for its own reasons, ignores Bahrain The Huffington Post - often referred to as the Huff Post, is the left leaning online news source ranked as the world’s foremost political site based on its global traffic.

Shortly before we went to print with this issue of Gulf Insider, Huff Post ran an article about the findings of HSBC’s annual Expat Explorer Survey for 2014 in which 9,300 international expats gave their views on their favorite places to live.

Bahrain proved itself up with the very best and scored 5th in the world, and came 1st in the Middle East (Qatar came 13th, Oman 14th, UAE 15th, and Saudi Arabia 28th), but you wouldn’t know this if you relied solely on the Huffington Post for your information. They reported on the first four countries (Switzerland, Singapore, China and Germany). They also commented that New Zealand came 6th. But no mention whatsoever of Bahrain and place number 5!

Why not, we wonder.

Google the words “Huffington Post” and “Bahrain”, and the first listing is from Huff Post promising “big news on Bahrain”. Sadly for a supplier of news this incident proves that they are highly selective on what news they are prepared to share with their readers.

Well over a hundred years ago the writer Mark Twain famously stated; “If you don’t read the newspaper, you’re uninformed. If you read the newspaper, you’re misinformed.” Some things don’t change.

WORK

PLAY

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Issue 118

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Issue 118

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A Guide to Bahrain’s Property Ladder Omega Seamaster Planet Ocean Car Review

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Issue 117

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Useful and Entertaining

Bravo on the Makeover

Your special feature, “Investing in Bahrain”, was really informative; it gave us the honest, first-hand insight into the current market situation in the Kingdom. I must commend the excellent choice of experts and personalities that were interviewed for the feature!

I have noticed some changes in the general look of Gulf Insider and I think it’s for the better. The two sections, “Work” and “Play”, make it easy to navigate and it’s become more entertaining (without losing its ‘intelligent’ edge!). I look forward to your next edition.

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Also inside:

Travel Bans Bahrain’s New Visa Policy Banks; Greedier than Ever?

I was a bit disappointed to read your article titled, “Arabs Escape Gulf Summer in London”.

Having lived in the Gulf for a good few years now, I got used to the outrageous traffic violations and inconsiderate parking habits of the ‘wealthy Arabs’ but until now, I was convinced that this kind of behaviour would not be tolerated in any of the European countries, where (I always believed) the law applies to all, regardless the financial or social status. How depressing to learn that these notorious drivers can get away with the same driving practices wherever BAHRAIN LEGAL they go.

Carlton

INDIA & BAHRAIN

Dr Mohan Kumar, Mohammed Dadabhai, and Vijay Boloor discuss business and Bahrain/Indian relations.

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Gulf Insider November 2014

Uneven Fight In reference to the recent arrest of a British woman in Iran for attempting to watch a men’s volleyball match – as much as I sympathise with her and her family in their traumatic experience – I am always glad to hear about the brave people who challenge the discriminating and totally backward laws that should not even exist in this day and age. These strong women (and men, too) choose to put their own wellbeing at risk to make a statement and, hopefully, to make a difference.

Alaa

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News

GULF ROUNDUP NEWS AROUND THE GCC AND BEYOND

BUSINESS & AFFAIRS IMF: GCC Risks Deficit as Oil Price Falls Gulf states will face budget shortfalls if the recent decline in oil prices persists, International Monetary Fund (IMF) chief Christine Lagarde warned.

A sustained decline of $25 a barrel in the oil price would reduce the revenues of most Gulf countries by eight per cent of gross domestic product, “and put many of them into a fiscal deficit situation,” Lagarde told reporters.

But the six nations of the Gulf Cooperation Council (GCC) have built up fiscal buffers to cope with the immediate impact of the reduction in revenues, she said after a meeting with regional finance ministers and central bank chiefs.

The combined GDP of the GCC last year reached $1.64 trillion, so in this scenario the annual revenue of the six nations could plunge by roughly $130 billion.

The total revenue of the GCC states — 90 percent of which come from oil — more than doubled from $317 billion in 2008 to $756 billion in 2012. It declined slightly to $729 billion last year, according to IMF estimates.

Lagarde called on GCC states to implement reforms and stressed the urgent need for fiscal consolidation — an appeal echoed by Kuwait’s finance minister.

Anas Al-Saleh urged steps to tackle rising public spending, mainly on wages and subsidies, as well as efforts to boost the role of the private sector. – SAUDI GAZETTE 10

Gulf Insider November 2014

Micky Jagtiani Tops List of GulfBased Rich Indians Middle East retailing king Micky Jagtiani has been named the richest Indian in the Gulf by Forbes magazine.

Seven Gulf-based Indians are included in the latest global ranking of rich Indians, with Jagtiani at number 17, worth $5.3 billion.

His Landmark Group, based in Dubai, started with one store in Bahrain in 1973 and now rakes in revenues of $5 billion annually, with 1800 stores across the region, Africa and India.

The second richest Indian in the Gulf, according to Forbes, is Ravi Pillai, chairman and CEO of the RP Group of Companies.

His wealth grew 65 per cent in the past year, to $2.8 billion, moving him four places up the ladder to 30.

Pillai is the highest ranked Gulf tycoon originating from Kerala, and ranked above Lulu Group, Yusuffali MA, who was the third highest ranked GCC resident, at number 40, worth $2.3 billion. – ARABIAN BUSINESS

TRA sponsors Arab ICT Forum 2014 The Arab ICT Forum 2014 was held on October 21 and 22, under the Patronage of the Chairman of the Telecommunications Regulatory Authority (TRA) of the Kingdom of Bahrain Dr Mohammed Al Amer.

The forum, organised by the ICT Committee, the Federation of Arab Engineers, and the Bahrain Society of Engineers, saw a number of speakers, ICT experts, and representatives of the operators, suppliers, major local companies and the ITU gather to interact in a positive dialogue on the latest global developments that would pave the way for more joint work among key entities involved in the sector.

News

Dubai’s Inflation Rate Highest in 5 Years, Set to Rise Further Dubai inflation is running at its highest in nearly five years, driven by the soaring price of property.

The consumer price index edged up 3 per cent from a year earlier, the same rate of growth as the previous month, according to data from Dubai Statistics Centre. It rose 0.1 per cent compared to the previous month.

Housing and utility costs were the main catalysts of inflationary pressures.

Housing accounts for about 40 per cent of the weighting on the index.

“This continues an upward trend that we expect to persist through this year and into next,” said Simon Williams, the chief economist for the Middle East and North Africa at HSBC. “The last few years have been easier for Dubai because spare capacity in the labour market has helped keep prices low. We are coming now to the end of that cycle.”

In response to rising inflation, some employers have raised staff salaries this year.

Billy Turriff, data services and technology line business leader at Towers Watson, the human resources consultancy, estimated average salary rises in the UAE this year of 5 per cent, above its forecast inflation rate of 2.5 per cent. But, he said the average inflation rate was more representative of prices faced by Emiratis, who benefit from subsidies. – THE NATIONAL

Transparency Still a Weakness in GCC Corporates, Says Fitch Fitch Ratings has cautioned that the ratings of Gulf Cooperation Council (GCC) privately-owned corporates are being constrained by relatively weaker corporate governance than their developed market peers.

The ratings agency said in a statement that this is mainly due to the absence of an effective independent board, weak transparency, and limited disclosure practices.

It added that few regional corporates have independent boards, and of those that do, their effectiveness remains questionable, with few independent directors and “key man” risk from the influence of the dominant CEO or shareholder.

“Risks also stem from the influence of family shareholders on corporate strategy and operations; related-party transactions; management succession; and dividend policies that may favour family interests over the interests of other stakeholders,” the statement added.

Fitch claimed that lagging governance standards can discourage international investors from looking for opportunities in GCC as they face closely controlled company ownership and general lack of transparency. – ARABIAN BUSINESS 12

Gulf Insider November 2014

Saudi Tourism Income Stays Biggest in Gulf Saudi Arabia is expected to continue its dominance as the largest tourism market in terms of revenues, followed by the UAE, Alpen Capital said in its latest GCC Hospitality Industry report.

Upcoming mega events in Qatar and UAE are expected to be the key growth drivers for the hospitality industry in these countries.

The GCC hospitality industry is expected to grow at an annual rate of 9.5 per cent to $35.9 billion by 2018 compared to the $22.8 billion in 2013.

Average occupancy rates are likely to be in the range of 68 per cent and 74 per cent between 2013 and 2018 while ADR is likely to average between $225 and $263 during the same period.

The resource-rich GCC region’s growth prospects remain favourable, supported by stable oil prices and continuous government spending, especially on infrastructure upgrade and economic diversification. GCC countries continue to maintain a pro-business environment with no or low corporate taxes, which has encouraged private sector investments including foreign investments. – SAUDI GAZETTE

News

CHARTERED ACCOUNTANTS AS STRATEGIC PARTNERS The “Together towards Tomorrow: CAs as Strategic Partners” conference by the Bahrain Chapter of the Institute of Chartered Accountants of India shows the local businesses how to prepare for an unpredictable future.

T

omorrow is always uncertain.

With uncertainty come challenges, and with challenges come opportunities. The unstable global economic conditions pose probably the greatest of challenges for businesses, and make it even more difficult to prepare for the opportunities.

For any organisation, be it private or public, the key to handle the unplanned circumstances lies in a sound strategy that enables them to tap into the vast opportunities that future presents.

For this, organisations need a strategic partner who can identify superior prospects, and mitigate the risks.

The Bahrain Chapter of the Institute

of Chartered Accountants of India has a proven record of such successful partnerships with several organisations.

Subsequently, their role served as main inspiration for the theme of the international conference, “Together towards Tomorrow: CAs as Strategic Partners,” to be held on November 28 and 29, 2014, at The Diplomat Radisson Blu Hotel, Residence & Spa in Bahrain, under the Patronage of H.E. Minister of Commerce and Industry Dr Hassan Fakhro.

The forum aims to equip participants with the right set of tools for securing a fruitful tomorrow – by learning from the experiences of successful business

partners and industry leaders, in addition to discussions on important developments in the management, finance, and accounting sectors.

The conference will see some great personalities in the field of finance and management, including CA Venkatraman Balakrishnan, Ex-CFO and Board Member of Infosys; CA Suryanaran Subramanian, CFO of Emirates NBD; and CA Amarjit Chopra, Past President of ICAI.

For more information, call CA Maheshkumar Narayan on +973 3322 1229 or visit www.bahrain-icai.org.

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Gulf Insider Exclusive

A CHALLENGE FOR BAHRAIN Gulf Insider asks HH Shaikh Nasser bin Hamad Al Khalifa about the importance of sports education + Bahrain’s first international half Ironman race.

I

n your view, how big a role does sports play in the education of Bahraini youth?

Sports can be a powerful tool to promote the all-round growth and development of the youth of a nation.

In Bahrain, under the patronage of His Majesty King Hamad bin Isa Al Khalifa, we are dedicated to provide all sorts of opportunities for our young people as far as sports is concerned.

I strongly believe that an efficient physical education program equips people with vital qualities such as leadership, perseverance, social and moral character, self esteem, commitment to team work, problem-

14

Gulf Insider November 2014

solving and organizational abilities. In today’s most challenging environment, such life skills only can help individuals to succeed in life, and that brings prosperity to the nation.

As Chairman of the Supreme Council for Youth and Sports, and President of the Bahrain Olympic Committee, how do you go about promoting physical education?

The youth and sports movement in Bahrain has made great strides in recent years. The Supreme Council for Youth and Sports continually monitor the progress of tailor-made projects aimed at youth welfare, and aims to ensure that we get

results. Our foremost aim is to work for our youth as we recognise that they are the backbone of our nation. We have a vision statement which nicely captures our aim; “youths with a Bahraini identity and global contribution”.

The Bahrain Olympic Committee (BOC) has recently taken a big leap ahead by initiating a variety of futuristic programmes for the youth of the country. All associations under BOC take special attention to nurturing the talents of our youth. We have a very good record of achievements in various regional and international events including the Beijing Olympics and Incheon Asian Games. BOC is hosting the prestigious

Gulf Insider Exclusive

World Sport Congress 56th ICHPER. SD Anniversary this December. Besides these, a three-day congress, to be held in cooperation with the International Council for Health, Physical Education, Recreation, Sports and Dance (ICHPER. SD) and the University of Bahrain, will be attended by officials from 120 countries.

Several significant scientific research papers that are linked to health, sports, physical education and recreation will be discussed in depth at this Congress.

Regarding sports education, are there areas in Bahrain that you believe still needs improvement?

We are always on the lookout for ways of improving facilities and practices for physical education. One example of this is that I feel we should develop a more holistic physical education policy to be implemented right from the early school stages. Possibilities for implementing such a policy are being explored.

“I feel we should develop a more holistic physical education policy to be implemented right from the early school stages.�

In what ways do you believe children most benefit from sports?

Essential life skills are so often the outcome of an effective physical education. In fact, sports have been proven to actually raise IQ in addition to building confidence and teaching kids about managing emotions, such as selfcontrol. Sports help children to learn hard work, patience, persistence, and how to respond positively to setbacks and failures. Most importantly, sports help a child to prepare to take on the many challenges that life has to offer and emerge victorious like a champion.

Is sports an important part of the culture of Bahrain?

Definitely! Especially endurance horse riding and show jumping which have an immense traditional value, although we must not forget there are also other sports and sporting events that boast a rich history for us.

Challenge Bahrain is the first international half Ironman race ever held on the Island. Can you tell us more about the event?

Challenge Bahrain is a triathlon that we are about to initiate with the aim of making Bahrain the centre of Triathlon in the Middle East. We are inviting various Gulf Insider November 2014

15

Gulf Insider Exclusive Image Credit: AP

Ruqaya Al Ghasara competes at Beijing Olympics

“Sports help a child to prepare to take on the many challenges that life has to offer and emerge victorious like a champion.” professional sportsmen from across the globe to participate. This sport has been acclaimed worldwide and we expect a big crowd here in Bahrain this year.

How do you think it will affect the Kingdom’s international exposure?

Bahrain has a successful track record of organizing various international sports events. In addition to highlighting Bahrain as the centre of Triathlon in the Middle East by hosting Challenge Bahrain, we want to showcase the immense potential of Bahrain’s youth through this championship. I am sure that it will only enhance the reputation of Bahrain on the global sports map.

For details on Challenge Bahrain visit www.challenge-bahrain.com.bh 16

Gulf Insider November 2014

Al Muharraq after being crowned champions of the GCC Champions League

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MIND THE GAP Buying a property is more of a complex matter than it may appear, thus knowledge and experience are a must for a successful real estate transaction. If a would-be buyer fails to control their finances, pick the right asset, or pay attention to the legal aspects in the process, there is a strong chance for a buyer’s dream to turn into a nightmare.

Bahrain’s real estate market holds some opportunities for investment and many residents – both local and expatriate – choose to hop on the island’s property ladder.

Gulf Insider presents a comprehensive guide to what needs to be learned before starting house hunting in the Kingdom.

49

Gulf Insider October 2014

Special Feature

A Guide to Bahrain’s Property Ladder

Special Feature

BUYING PROPERTY IN BAHRAIN

THE PROPERTY EXPERT FRANCINE WILLIAMSON Senior Sales & Leasing Executive at Cluttons Bahrain

THE BASICS When house hunting in Bahrain, you may wish to consider the following: • Where will you be working? Keep in mind that the journey from one end of the island to the other takes approximately 40 minutes, or even longer at peak times.

• In which parts of the country are

you legally permitted to purchase a property? While for the GCC citizens this will not be an issue, all the non-GCC nationals – both individuals and business entities – will only be allowed to purchase real estate in certain areas, such as the Amwaj Islands, Juffair, or Riffa Views.

• If you have children, where will they be going to school? There are a number of good schools in Bahrain; knowing which one your children will be attending is an important consideration, given the potentially long commute that you may face during the school run.

20

Gulf Insider November 2014

• What’s your budget? The cost of a three-bedroom property varies greatly in different areas, so it is important to understand the budget that you have available as this will guide the areas that you can afford to live in. One-bed apartments in popular expat areas start at around BD 40,000, with three-bed family homes starting from around BD 140,000.

• Are community facilities important to you?

When living away from your friends and relatives, the ability to integrate your family within a neighborhood may be an essential factor.

Or, perhaps you do not have children and are likely to be travelling frequently on business, so this may not matter so much. Typically, residential areas and compounds that have community facilities come at a premium, so it’s worth considering how much value you place on these amenities.

CHOOSING A REAL ESTATE AGENT A good real estate agent can save you both time and money. An experienced agent will be able to walk you through the search process and ensure that you are not caught out by any of the common pitfalls. Buying a property is usually one of the largest financial decisions that a person will make in their lifetime, so any mistakes can be extremely costly.

To choose the right one, select someone within a registered company who has experience in the market.

Ideally, opt for an agency that is governed by a regulatory body, such as the Royal Institute of Chartered Surveyors, and ask around. In many cases, friends or colleagues may be able to recommend someone who assisted them when they first arrived in Bahrain.

Special Feature

QUESTIONS TO ASK THE SELLER Matters that should be discussed include: • Who is taking care of transfer fees?

• Have the title deeds been issued for the property?

• Is there a mortgage on the property (i.e. is the property held by a bank)?

• What items are included (white goods, furniture, etc.)?

• What are the service charges?

THE BUYING PROCESS The actual process of transferring the ownership of the property is extremely quick and can take a matter of days. Typically, there are other factors to take into account, such as mortgages, availability and efficiency of the two parties, and whether the property is currently vacant, which means that on average it takes between four and six weeks for the sale to take place from initial offer to completion.

THE PITFALLS In order to avoid future troubles, it is advisable that a potential property buyer does their homework: • Ensure that all items agreed upon are clearly stated in the contract of sale, and strict timelines are included.

• Clarify whether there are any unpaid service charges.

• Double-check the status of the title deeds.

• Be aware of any outstanding mortgages.

• Be cautious in case of any misrepresentation, which may include wrong property size being advertised, or even access to facilities that might not exist.

• Follow up regarding all the items that have been initially agreed upon, verifying that they are actually provided.

Expert Insight: Bahrain’s Property Market The residential market in the Kingdom is certainly on the rise. The number of sales taking place continues to grow, attractively priced properties are moving quickly, and rates have begun to increase.

This trend is expected to last, as the economy is on its way to recovery from the financial crisis, and the region as a whole benefits from the upcoming World Expo in 2020 and the Qatar World Cup in 2022.

Gulf Insider November 2014

21

Special Feature

BUYING PROPERTY IN BAHRAIN

THE FINANCIAL EXPERT DALAL ABDULLA Head of Shared Distribution & Contact Centre at Standard Chartered Bank

FINANCIAL ASPECTS Choose the Right Location In some areas, there are restrictions regarding the maximum number of storeys allowed in each building, which is crucial to know in advance. Moreover, some venues tend to depreciate in land value, and some are likely to appreciate – so do your homework before going ahead with the purchase. It’s also important to know the difference between the area that is either commercial or residential.

The property prices are usually higher in the commercial areas, which can have an impact on the resale value. As for the purely residential districts, there is a strong possibility that the prices will remain unchanged, or even drop in time.

Investment vs Own Occupation For

22

a

residential

property,

Gulf Insider November 2014

it

is

recommended to pay more attention to the neighbourhood and other lifestyle aspects. For speculative investment, however, the main thing to consider is the value of the property – whether it is reasonable, so that you’ll be able to find a buyer in the future.

HIDDEN COSTS? The property buying process in Bahrain is rather straightforward, so there will be hardly any hidden costs. On average, the additional expenses include: 1. The cost of taking a loan from the bank (a processing fee).

2. The cost of the property evaluation, which is a mandatory pre-requisition even for the loan to be approved. In essence, the bank will assign an evaluator who will assess the property value. Based on this evaluation, the actual price of the estate will be established. The

reason for this practice is to prevent any misrepresentation of the property worth, and to protect the buyer.

3. The fixed registration fee paid at the Survey and Land Registration Bureau (SLRB), which constitutes 1.7 per cent of the property value.

THE EXPAT BUYER While Bahraini citizens are not restricted in purchasing property anywhere on the island, the expats can take advantage of 100 per cent ownership of a freehold estate that is situated in selected areas, as allocated by the Government. Consequently, the banks will only approve a mortgage loan based on that list, which might differ from one bank to another.

It’s also worth mentioning that once an expat purchases property in Bahrain, they are automatically granted a lifelong Bahraini residency.

Special Feature

PROPERTY TAXES Bahrain’s Government does not impose any tax on the property owners, regardless of their nationality. Some expats, however, might need to pay tax in their home country if they are required to declare their assets abroad.

THE MARKET Mortgage portfolio in Bahrain has been increasing, which is a very positive indicator. The statistics of estate ownership in the kingdom before 2011 are actually comparable with the recent figures. The prices have picked up, there are many new housing projects in motion, and the banks offer very attractive mortgage packages. That means the demand for real estate is growing yearon-year, and the market is bouncing back.

MORTGAGE FACILITIES

The market offers mortgage facilities for both Bahrainis and expatriates. At most banks, the main difference for the expats is a prerequisite that they buy an existing property (registered at the SLRB and with a title deed issued), and not an off-plan project.

The Initial Paperwork 1. The primary requirement in the process is that the applicant is either employed or self-employed. Based on the submitted documents verifying his or her individual earnings, the bank will calculate the maximum loan amount that can be issued to them.

2. Along with the income documents, the applicant needs to present the property title deed.

Subsequently, 3. the applicant will submit the basic identification documentation and sign the loan request form, documents related to opening of the bank account, and the remaining bank formality papers.

The Process Once the initial paperwork is in place, the bank will proceed with the property evaluation, upon completion of which

the applicant will pay the down payment, with the remaining amount distributed as instalments. The bank will then conduct the assessment of all the documentation in order to issue the final approval of the loan.

In the next step, the title deed will be transferred from the property buyer to the bank, which means that the bank will be an actual owner of the estate for the duration of the loan. The title deed will be transferred back to the buyer upon completion of the loan payment.

The process from the moment of submitting the initial documentation until the final approval of the loan usually takes four days, and ten days including the land registration, due to the time limitations for making an appointment at the SLRB.

Down Payment Options The down payment options in Bahrain vary depending on the property location and whether the buyer is Bahraini or expatriate. The standard amount is 20 per cent of the purchase price, although if the bank considers the loan to be that of a lower risk, it might be reduced to even ten per cent.

Mortgage Insurance Most banks in Bahrain offer life and disability insurance against all their loans, in cooperation with the insurance company. In fact, they will complete the full application process on their customer’s behalf, and the payment can be automatically included in their monthly instalments. At some banks, such insurance is even mandatory when taking a mortgage.

In any case, it is highly recommended, especially for the long-term mortgages that can span up to 30 years, as it protects the applicant (and their family) in case of any unfortunate event that would prevent them from finishing the payment – in such situation, the full loan amount will be paid off from the insurance itself.

The extra amount paid for the coverage – which is calculated based on the loan amount – is relatively insignificant, given the financial security it provides.

For example, for the mortgage of BD

250,000, the life insurance will cost less than BD 2,000 per year.

Pros and Cons The main advantage of taking a mortgage is the low interest. It is, however, a long-term financial commitment. And, the longer the tenure, the higher the interest. In order to reduce it, the down payment must be increased, so if you have the ability to do so, it is the right way to go.

Mortgage loan options in Bahrain: Minimum loan amount: BD 25,000  Maximum loan amount: BD 570,000  Maximum loan to value ratio: 80 per cent  Maximum tenure: 25 years  Maximum age: 65 years for Bahrainis and 60 years for expatriates  Joint borrowers options: Yes, for immediate family members  Minimum monthly net income: BD 700 for Bahrainis and BD 900 for expatriates  Minimum period of employment: One year in service  Maximum debt service ratio: 65 per cent  Interest rate: 5.5 per cent annual percentage rate (APR) 

The rates were provided by Standard Chartered Bank. The details may vary depending upon your bank.

Extra Tip The Ministry of Housing has recently introduced a new project for the citizens who wish to buy a house, offering to subsidise 25 per cent of the mortgage, taken through the ministry – provided the property value does not exceed BD 120,000, and the maximum income of the borrower is BD 700.

Gulf Insider November 2014

23

Special Feature

BUYING PROPERTY IN BAHRAIN

THE LEGAL EXPERT SIMON GREEN Partner and Head of Real Estate & Construction Middle East at Charles Russell THE ACQUISITION PROCESS There are five stages to go through when acquiring a property in Bahrain:

1. Pre-exchange At this initial stage, the buyer should undertake the due diligence concerning the property itself. This will include investigating the title of the property by reviewing the title deed, undertaking searches at registries capable of public inspection or with relevant authorities, and making enquiries with the seller in relation to the property. The buyer should also enquire whether any third party approvals are required, such as from the Ministry of Industry and Commerce or the Ministry of Justice. The buyer and seller will also negotiate the terms of the contract. Unlike some other jurisdictions that clearly specify which party is responsible for preparing a contract, in Bahrain, either the seller or the buyer may take on this responsibility. The sale 24

Gulf Insider November 2014

contract can be quite comprehensive, although in case of residential property, it is usually fairly concise.

2. Exchange Once the buyer is satisfied with the results of the due-diligence, the parties enter into the sale contract, which will be legally binding. The buyer will normally pay a deposit, which constitutes a percentage of a total purchase price – usually ten per cent but, of course, it may vary depending on the negotiation.

3. Pre-completion The buyer will need to ensure that their financing arrangements are in place following the exchange. A prescribed form of transfer of the legal title of the property is also prepared – normally in English and Arabic – and finalised. Both parties will also need to ensure that they have procured all the documents required by the Notary Public in order to proceed

with the transfer of the title. These will include the preparation and legalisation of a power of attorney (if required), identification documents in case of individuals, and corporate documentation for companies, such as the certificate of incorporation, articles and memorandum of association, and board resolutions authorising the sale. It is important to note that the requirements of the Notary Public may change on a case-by-case basis. As such, the best practice to avoid delays is to perform a “trial run” before the completion stage, to make sure all the papers are ready.

4. Completion During this phase, the parties will attend the offices of the Notary Public in Bahrain (usually at the GOSI Commercial Complex or the Survey and Land Registration Bureau [SLRB]), to sign the prescribed form of transfer. The buyer will also pay the balance of the purchase price.

Special Feature

5. Post-completion

The buyer completes the transfer of title by submitting the prescribed transfer to SLRB, which is the entity that deals with the land and property ownership in Bahrain. The SLRB will initiate the registration process and specify the registration fee that the buyer is required to pay. Only once the payment is made, can the transfer of title be finalised. The buyer will then receive the title deed, or “red book”, which will record their ownership and contain the information relating to the property.

THINGS TO KEEP IN MIND It is important to know that legal title to a property – actual ownership – remains vested in the seller until registration has been completed at the SLRB, which can take up to three months. It should be noted that the date of registration is not backdated to the date of completion or the date the application for registration was made.

This gives rise to a risk period where the buyer hands over the full purchase price and yet does not have the legal

common parts. Notwithstanding these requirements, some developments don’t set up any management company to maintain these facilities and some owners aren’t aware of this prerequisite.

This means that the common parts in a development may not be properly maintained or that owners may find themselves having to bear unanticipated costs.

In addition, if a buyer is purchasing a property which is subject to existing leases, it is important to know that all the existing leases will be transferred

THE EXPAT BUYER The process of buying a property in Bahrain is substantially the same for both Bahrainis and expats, although there are a few additional aspects expats to consider.

Foreign nationals or corporate entities are permitted to own a property situated in certain parts of Bahrain, such as tourism and investment projects of a special status. However, a recent additional requirement has been placed on foreign buyers whereby a foreign buyer must obtain approval from the Ministry of Justice in order to purchase a property in those specified areas. It is anticipated that issuing such a decision by the ministry will take three to five weeks and will require a draft of the prescribed form of transfer to be given to the Notary Public. Only after meeting these prerequisites, will the expat buyer be able to proceed to sign the transfer title.

The requirements of the Notary Public may also differ in that any documents not originating in Bahrain must be notarised and legalised by both the authorities in the buyer’s home country and Bahrain.

This process will involve having the documents legalised and certified by the relevant Ministry of Foreign Affairs and the Embassy of Bahrain in the home country, as well as the Ministry of Foreign Affairs in Bahrain. Finally, the documents must be translated into Arabic by a certified translator. This process is time consuming (approximately two weeks or longer) and may result in increased costs, which may not have been budgeted for.

ownership to the property. To minimise this risk, the buyer can negotiate with the seller to delay the full price payment until obtaining a receipt from the SLRB, which indicates that the registration has been approved and is going to be processed. In any case, however, problems associated with this ‘registration gap’ very rarely occur.

Another issue relates to strata titling and community ownership. According to Bahrain law, if an individual owns an apartment in a building, they also own a percentage of the common parts – the stairways, lifts, outdoor landscape areas, etc. – which need to be maintained. If there are more than four owners, the law requires them to form an owners association, which is usually a corporate body that looks after these

on the same terms and conditions. This means that the buyer will not be able to terminate these leases unless certain events occur.

Extra Tip A new legislation governing real estate developments in Bahrain has been approved and will shortly be enacted. It seeks to establish a balanced framework to attract property investment and build consumer confidence in Bahrain.

The new law will regulate off-plan sales by ensuring that developments and developers are licensed, funds received from buyers are ringfenced and protected, and delays are managed.

Gulf Insider November 2014

25

Special Feature

BUYING PROPERTY IN BAHRAIN

WHAT YOU DON’T KNOW

CAN (AND WILL) COST YOU

W

hen it comes to buying a villa or apartment, be it for own occupation or as speculative investment, not doing your homework and making irrational decisions are the key ingredients in the recipe for disaster.

Learning from others’ mistakes is always less painful and thus, recommended.

Here are some pitfalls to look out for.

1. Not Knowing the Location Being the only thing that cannot be changed, ensuring suitable location should top the home buyer’s to-do list.

The amenities available in the area, workplace accessibility, general traffic situation, possible future developments that may positively or negatively affect the value of your property… and what are the neighbours like? One needs to be fully aware of these aspects.

2. Skimping on Property Inspection Buying a property is a serious investment and so it should not be taken for granted. An additional expense for inspection might seem unnecessary at a time but it can save the future owner a fortune in the long run.

3. Overoptimistic Financial Plan Spending over one’s budget is never a good idea. And, the expenses do not end with finalising the purchase deal; owning 26

Gulf Insider November 2014

a property bears many extra costs, which must be taken into consideration when working the financial plan, not least of which is the rate of interest you will be obligated to pay and how such rates are calculated.

4. Losing Grip on Reality If the property requires serious renovation or calls for a full-blown rebuilding project, it is probably the wrong choice, because unless you know exactly what you are doing, these things never go as planned. The wise thing to do in this case, unless you have either building experience or access to such experience that you can trust, is to keep on looking.

5. Opting for Small Down Payment The smaller the down payment amount, the bigger the long-term costs, so the buyer should be financially prepared to cover at least 20 per cent of the loan. Otherwise, perhaps it’s just not the right time to buy. Also, refer to comments regarding interest rates payable on your loan mentioned above.

6. Buying Off-Plan Investing lifetime savings in a real estate development project is just too risky, especially with less than perfect consumer protection laws in some of the Gulf states. There is always a chance

that something goes terribly wrong and the buyer finds themselves with empty bank account and no property in sight.

The safest approach is often to look for an existing asset.

7. Not Knowing What You’re Buying (and not Buying) This particularly affects people buying off-plan; what’s included (and not included) in the price? What quality of materials will be used? Are they guaranteed? How much will be any service fees – and who decides? People have purchased properties sometimes only to discover afterwards of restrictive covenants, faulty building materials used, that they have no control over extortionate service fees charged to them, and/or low quality of maintenance, yet are unable to dispute such charges or change the service providers. Ensure contracts you enter into protect you from such things by clearly stating your rights and the seller’s responsibilities, and that it is legally enforceable.

8. Bad Timing, Worse Decision Apart from the obvious financial capabilities, the would-be buyer needs to weigh up many other aspects that come with the commitment they’re about to make. It might be a good idea to evaluate one’s financial stability and long-term life plans beforehand.

Business

GROWING STRONG Backed by deep research and development to further enhance its skill-sets in the market, VIVA Bahrain continues to offer leading-edge solutions.

GITEX 2014: THREE YEARS IN A ROW VIVA Bahrain continued its participation for a third consecutive year in one of the world’s biggest technology events, GITEX Technology Week 2014, held from October 12 to 16 at Dubai World Trade Centre.

This year, VIVA showcased its latest technology and world-class capabilities in establishing the first regional Global IPX (GIPX) in Bahrain through its partnership with BT, one of the world’s leading providers of communications services and solutions.

Commenting on its third-year participation, Ulaiyan Al Wetaid, VIVA Bahrain CEO, said, “This is a significant year for us at GITEX – we will be demonstrating our expertise in developing a new ICT ecosystem for the region to provide Global IP connectivity between all GCC operators and other international markets. This will unlock business potential for all regional operators, attract global players to introduce new ICT services, and also assist in growing their value-added services.”

As a fully-owned subsidiary of the STC Group, VIVA Bahrain offers diverse coverage through its full access to the international operators’ largest national and regional network.

Ulaiyan Al Wetaid, VIVA Bahrain CEO

ONE-STOP-SHOP BUSINESS SOLUTION VIVA has partnered with key ICT providers across Bahrain to offer new fixed voice solutions for businesses, with dedicated voice capacity using high-quality technologies.

This comprehensive service has been designed to offer fast, secure, and efficient connectivity to the businesses’ private exchanges (PBX), and unified communication systems to support their requirements from business collaboration, voice, video, and conferencing services – while ensuring significant cost savings and scalability.

The packages, delivered over digital ISDN PRI or IP-based (SIP Trunk) connections, give businesses the flexibility to either connect their existing unified communication system to VIVA’s network, or add a new PBX system with affordable charges. Moreover, the plans are offered with special local and international calling rates coupled with free monthly credit.

And, business users have the flexibility of maintaining their existing range of numbers when joining VIVA.

Gulf Insider November 2014

27

Business

IF YOU’VE GOT IT, FLAUNT IT!

By Agnieszka Piechoska

Strategic location, strong economic position, extended periods of summer weather, beaches, and rich culture… The must-ask question is: what’s exactly stopping Bahrain from becoming one of the world’s holiday hot spots?

C

ould it be that Bahrain hasn’t been aware of its own potential?

Or, does it not particularly care for the tourism-generated income and its possible contribution to the economy?

Perhaps a little late, but it seems that the authorities are finally gearing up for some serious makeover of the island’s image as a tourist attraction. There are talks about opening private beaches to the public, a large-scale hospitality sector revamp, and – most importantly – the Culture Ministry has recently announced its four-year tourism strategy for the years 2015-2018.

The Burning Issues For some time now, the country has been quite heavily marketed to the business travellers (it ranked 46th out of 189 economies in World Bank’s 28

Gulf Insider November 2014

Doing Business 2014 report). However, the leisure market is what counts, as it usually constitutes the largest source of the tourism sector revenue.

Bahrain’s leisure tourism is currently dominated by one market segment – the weekend visitors arriving en masse via the King Fahad Causeway. According to the figures provided by the Culture Ministry, four out of five travellers come to the country via the causeway, and almost 90 per cent of them are Saudi nationals, predominantly male and single.

Most of these tourists favour the island as it is more flexible on the social restrictions than their homeland; the availability of alcohol and relatively relaxed gender-mixing norms are believed to be the main reasons behind Bahrain’s popularity among the Saudi bachelors.

“This non-family-oriented tourism

has created a particular image for Bahrain regionally,” Bahrain Chamber of Commerce and Industry (BCCI) Board Member Mohammed Adel Fakhro told us, “In my personal experience, I have encountered many Saudi nationals who consider going to Bahrain for tourist purposes as something vastly against the traditional values. The conservative Saudis generally avoid visiting Bahrain for this reason. This is probably not the sort of brand that Bahrain’s officials want to promote.”

The authorities have openly commented on this situation, and they are very clear about it – they prefer Bahrain to be known as a family destination that endorses traditional Muslim ethics. “We have to make sure that tourism communicates the intrinsic cultural values and heritage assets of Bahrain,” the Culture Ministry’s Tourism Affairs Adviser and strategy project

Business

leader Dr Heba Abdulaziz was quoted as saying by the Gulf Daily News (GDN).

“We must also encourage tourism businesses to embrace the communitybased tourism,” she added.

The Plan The ministry’s primary goal is to promote the Kingdom as a ‘boutique destination’ overflowing with cultural heritage and historical sites.

In order to attract more diversified tourists (families as opposed to bachelors, that is) and to utilise the island’s true assets after all, the ministry will design dedicated guided tours based on the seven ‘unique experiences’, each of which will refer to a different aspect such as desert fauna and flora, pearl diving heritage, or Formula One. A new Supreme Committee for Tourism has been established to oversee the execution of the recommendations, and a tourism development fund – primarily funded by the five per cent tourism tax – has been proposed, in addition to encouraging the publicprivate partnerships.

Ministry’s somewhat sudden decision to ban the alcohol and live entertainment in all the three-star hotels in the country – which followed the similar ban for the one- and two-star hotels in 2009.

Critics may say that steering away from the nightlife-oriented facilities may cause huge losses and discourage foreigners from visiting. If the authorities play all the cards right, however, their plan can actually work.

A Facelift for the Hospitality Sector The officials seem to keep a strong focus on their objectives, as some of their steps in the recent months would indicate.

One of these steps was the Culture

Implemented last July, the move has been criticised for not giving long enough notice to the business owners to complete their contract periods with the suppliers and artistes, and for potentially

causing major losses and possible closures of most of the affected hotels, as they mainly generate their income from the entertainment services and not the rooms.

While the ministry had offered a full support to those hoteliers who wished to upgrade their hotels to four-star facilities, it is rather clear that the measure was meant to reduce the “weekend tourism” from across the causeway and make the country more family-friendly.

“Although selling alcohol attracts foreign tourists as this is what they usually expect on their holidays, Bahrain is a conservative country and culturally, it is against the locals’ values. There is no easy way to deal with it. Perhaps a recent strong religious current across the region contributed to this sudden decision. It’s a balancing act between projecting a tourist-friendly image and maintaining political stability at the same time,” Mr Fakhro commented.

Almost simultaneously, all five- and four-star hotels in Bahrain had entered an agreement with the ministry to reduce their prices by 20 per cent until the end of the year. “The initiative aims at revitalising internal tourism and attracting Bahraini and resident families to tourism facilities,” according to the Assistant Under-Secretary for Tourism, Shaikh Khalid bin Humood Al Khalifa, as quoted by the GDN.

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Business

The Supporting Developments

The Long Way to Go

The ministry has also been working hard on preserving historical sites in the country, which was largely neglected in the past. At this point, two of the Kingdom’s properties are inscribed on the UNESCO World Heritage List, which is not too bad for a small island but, if the ultimate goal is to be recognised as a cultural hub, it might need a bit more than that.

The new strategy includes a five-year agenda to develop the human capital in the hospitality sector with a dedicated training institute. A special focus is to be placed on having more Bahrainis to work in the industry, which the ministry hopes to achieve through incentives, better working conditions, and addressing misconceptions among the locals that the industry is “not compatible with social values,” as put by the Labour Minister Jameel Humaidan, quoted earlier this year by the GDN. A few other developments may soon help the local tourism sector. Bahrain’s relatively restrictive visa requirements have just been scrapped with the new visa policy, bringing the total number of nations allowed to obtain a visa on arrival to nearly 100. Also, the expansion project of Bahrain International Airport (BIA), which was officially announced in 2011, when completed, will boost its capacity by 50 per cent, which will in turn increase the number of layover passengers who can be converted into tourists.

Critics may say that steering away from the nightlife-oriented facilities may cause huge losses and discourage foreigners from visiting. If the authorities play all the cards right, however, their plan can actually work.

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Gulf Insider November 2014

The authorities have openly commented on this situation, and they are very clear about it – they prefer Bahrain to be known as a family destination that endorses traditional Muslim ethics.

Having said that, many aspects still need to be considered and addressed including lack of quality public beaches, tourism-related infrastructure such as transport facilities, as well as resolving the security issues, which is crucial for the tourists to want to spend their

holiday break here.

Out of them all, probably the most urgent is the ‘no public beaches’ dilemma, which is puzzling given that Bahrain is, in fact, an island.

“While many countries implement the requirement that the beaches belong to the public, nearly all of the beachfront properties in Bahrain are privately owned.

I suppose you could make the case that the Government should allocate more beaches to the public or at least specify the minimum distance from the seashore where the private properties can be built.

Bahrain would definitely benefit from it,” Mr Fakhro said.

The Hidden Benefits With a vibrant international tourism segment, Bahrain will enjoy manifold socioeconomic benefits that usually come with it: booming SMEs, historic sites preservation, stronger human capital, and economic expansion at large, including retail and construction sectors.

Not to mention a generally improved image on the international scale. By becoming popular among the world travellers, the country will profit on all fronts, and so will its own citizens.

As the Culture Ministry officials were unavailable for comment, the previous quotes from the GDN publications have been used for this article.

Business

SALARIES EXPECTED TO GROW 5.1% ACROSS GCC

C

ompanies across the GCC are predicting an average salary increase of 5.1% in 2015 according to the latest figures from Aon Hewitt, the global talent, retirement and health solutions business of Aon plc (NYSE: AON).

The figure is slightly down from forecasts made in 2014 and 2013 which was 5.5% and 5.4% respectively, indicating that companies across the region are being slightly more conservative with their budgets.

However, employees were given an average salary increase of 4.9% in 2014, only slightly below the original projection of 5.5%.

Released as part of its annual Global Salary Increase Survey 2014, the figures are based on data from a robust comparative group of over 500 organizations across the Middle East.

The report offers a unique snapshot of salary increase trends which, in turn, enables organisations to benchmark their forecasts with the market in order to remain competitive.

Robert Richter, Compensation Survey Manager, Aon Hewitt Middle East,

4.5%

Bahrain gave the lowest salary increase projection at 4.5%

said: “The latest figures show that corporates continue to have confidence in the 2015 economic outlook despite the slightly lower predictions made for the year ahead. It is normal procedure for companies to rethink their salary projections on an annual basis and the latest figure shouldn’t be a cause for concern for employees. Final budgets will be determined by HR and the management team of a company and the numbers we receive are the projections made by HR only; it seems this year HR will be more in line with the final numbers.”

Among the participating GCC organizations, Oman and Saudi based companies gave the highest salary increase projection for 2015 at 5.4% each; a slight decrease from the 2014 predictions. According to the research firm Capital Economics, inflation in Saudi Arabia is likely to remain steady at around 3.5%- 4.0% over the coming years, as growth weakens in comparison to the past decade. According to the National Centre for Statistics and Information (NCSI), inflation in Oman has remained subdued in the first quarter of 2014, despite a rise in consumer spending.

Bahrain gave the lowest salary increase projection at 4.5% followed by United Arab Emirates at 4.8%, Qatar at 5.2% and Kuwait at 5.3%.

Aon Hewitt has been conducting the Global Salary Increase Survey on an annual basis for 36 years and launched it in the Middle East for the first time in 2009. The report is free to participating organizations and available at a price of $1,000 to others.

GCC Countries:

GCC Countries:

Country

Country

Predicted Predicted Salary Salary Increase Increase 2014 2015

Actual Predicted Salary Salary Increase Increase 2014 2014

Bahrain 5.2% 4.5M%

Bahrain 4.5% 5.2%

Kuwait 5.6% 5.3%

Kuwait 5.2% 5.6%

Qatar

Qatar

5.6% 5.2%

5.1% 5.6%

Oman 5.6% 5.4%

Oman 5.3% 5.6%

Saudi Arabia 6%

5.4%

Saudi Arabia 5.2%

6%

UAE

5.%

4.8%

UAE

4.6%

5%

Average

5.5%

5.1%

Average

4.9%

5.5%

Gulf Insider November 2014

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Affairs

OBAMA’S HANDS-OFF APPROACH IN MIDEAST

By Joyce Karam

A chilling account of the Barack Obama administration by the former Defense Secretary Robert Gates has shocked Washington and attests to the “largely hands-off policy approach” in the Middle East, unlikely to change in the next two years.

G

ates, who served as Secretary of Defense from 2006 to 2011, offers the highest ranking assessment so far about the Obama administration in his new book “Duty: Memoirs of a Secretary at War”.

Excerpts and reviews of the memoir published in the Washington Post and The New York Times quotes Gates describing his former boss as someone who “does not believe in his own Afghanistan strategy, and doesn’t consider the war to be his.”

For Obama, “it’s all about getting out” he writes, voicing skepticism over the president’s circle of “political operatives” and the “controlling nature” of the White House. Gates’ words on Vice President Joseph Biden are more scathing, finding him “wrong on nearly every major

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Affairs

foreign policy and national security issue over the past four decades.”

Gates’ critique of Obama is especially surprising in its “tone” and “level of criticism” says Robert Danin, a senior fellow at the Council of Foreign Relations, who served in consecutive U.S. administrations from Ronald Reagan through Barack Obama.

Danin tells Al-Arabiya News that Gates comes across as “deeply angry about the highly politicized policy environment” and “an overly intrusive White House.”

Perhaps, and more than anywhere else outside of Washington, the Gates critique will resonate in the Middle East where a sense of disappointment in the Obama administration lingers from Cairo to Damascus.

Gates, highly regarded for his 30 plus years in public service, lambasted the level of meddling from the Obama White House in the U.S. military. The man who was the architect of ending the Iraq war, and reengineering U.S. military power, said in his memoir he was close to quitting in 2009.

His account of the Afghanistan review and policy dynamic inside the White House confirms previous assessments by former official Vali Nasr and New York Times reporter David Sanger in their books “The Dispensable Nation” and “Confront and Conceal.”

In that sense, the image of Obama as a calculated strategist and campaigner seeking to limit U.S. footprint in war zones is not new, but coming from Gates it carries more political significance Perhaps, and more than anywhere else outside of Washington, the Gates critique will resonate in the Middle East where a sense of disappointment in the Obama administration lingers from Cairo to Damascus.

Former U.S. national security officials and Arab diplomats in Washington see in Gates’ narrative a “confirmation of Obama’s approach to the region.”

Arab diplomats, speaking on condition of anonymity, tell Al-Arabiya News that “getting out” is a defining theme for the administration across the region and not only in Afghanistan.

The New York Times spoke about “the emergence of a post-American Middle East in which no broker has the

power, or the will, to contain the region’s sectarian hatreds.” A reality that will only be enforced by Gates’ account of the White House.

This reality of keeping an arm’s length from Middle East turmoil is not, however, at odds with the U.S. public. Danin points out that the “the American public is generally supportive of the president’s largely hands-off approach towards the Middle East.” Today, the legacy of ending wars stands as a big accomplishment for the 44th president, regardless of the turmoil across the region.

Danin adds that while the book “could make U.S. government officials more defensive about the policy choices they have made,” it remains “part of larger battles both to define the historical legacy of the Obama administration

The American public is generally supportive of the president’s largely hands-off approach towards the Middle East. and to elect his successor.” In other words, Gates’ memoir will unlikely have direct ramifications on the Obama administration at the time being, nor will it change its policy trajectory in the Middle East.

Joyce Karam is the Washington Correspondent for Al-Hayat Newspaper, an International Arabic Daily based in London. She has covered American politics extensively since 2004 with focus on U.S. policy towards the Middle East. Prior to that, she worked as a Journalist in Lebanon, covering the post-war situation. Joyce holds a B.A. in Journalism and an M.A. in International Peace and Conflict Resolution.

Twitter: @Joyce_Karam

Gulf Insider November 2014

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Affairs

MISSING AIRCRAFT Emirates CEO Sir Tim Clark doubts official view of missing Malaysian airliner’s fate.

T

he chief executive of Emirates has claimed that ‘control was taken of’ Malaysian Airlines flight MH370 before it vanished.

Sir Tim Clark said it was very important that the airline industry does not accept that the fate of MH370 is an ‘unexplained mystery’ His airline, Emirates, operates almost 130 Boeing 777 aircraft, similar to the doomed jet.

Flight MH370 vanished in March with 239 passengers and crew on board.

In an interview with German magazine Spiegel, Clark said: ‘MH 370 remains one of the great aviation mysteries.

Personally, I have the concern that we will treat it as such and move on. At the most, it might then make an appearance on National Geographic as one of aviation’s great mysteries. We mustn’t allow this to happen. We must know what caused that airplane to disappear.

For Sir Tim, there is only one logical conclusion as to what happened to the highly advanced and reliable passenger jet. ‘MH 370 was, in my opinion, under

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Gulf Insider November 2014

control, probably until the very end.’

He said: ‘My own view is that probably control was taken of that airplane. It’s anybody’s guess who did what. We need to know who was on the plane in the detail that obviously some people do know. We need to know what was in the hold of the aircraft. And we need to continue to press all those who were involved in the analysis of what happened for more information.

‘I do not subscribe to the view that the Boeing 777, which is one of the most advanced in the world and has the most advanced communication platforms, needs to be improved with the introduction of some kind of additional tracking system. MH 370 should never have been allowed to enter a nontrackable situation.’

Sir Tim said it would be unlikely that the aircraft’s pilots would have been able to disable all the jet’s tracking equipment. The aircraft was fitted with a highly advanced system called ACARS - Aircraft Communications Addressing

and Reporting System - which provides constant real-time information to the airline’s engineering staff. This system monitors the aircraft’s engines and can notify engineers of possible faults even before the pilots are aware of the situation. Malaysian Airlines lost contact with this system when the jet vanished.

But for Sir Tim, one of the most baffling elements of the mystery is the complete lack of any physical evidence of where the aircraft landed. He said not even a ‘seat cushion’ has been recovered.

He said: ‘There hasn’t been one overwater incident in the history of civil aviation -- apart from Amelia Earhart in 1939 -- that has not been at least 5 or 10 percent trackable. But MH 370 has simply disappeared. For me, that raises a degree of suspicion. I’m totally dissatisfied with what has been coming out of all of this.’

The hunt for Malaysia Airlines Flight MH370 has resumed in a remote area of the Indian Ocean – more than six months after the jet disappeared.

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GULF ROUNDUP NEWS AROUND THE GCC AND BEYOND

LIFE

Magic Island Introduces Golf Simulators Following its extensive BD 2.7 million refurbishment, Seef Mall’s new Magic Island has a new world-class attraction – two XGolf simulators, which feature over 90 renowned golf courses from the United States, Asia, and Europe, including Pebble Beach, Harbour Town, and more.

Equipped with swing analysis and video tools, golfers can virtually travel to some of the world’s most famous courses.

Every hole is replicated precisely for golfers of any playing ability who can benefit from the opportunity to improve their game under the supervision of golf instructors.

The simulator comes with two unique features: XPLATE – the area on which the golfer stands, which is designed to reproduce both the feel and the slope of an actual course; and XBALL technology, which retrieves and tees all the balls, eliminating the need to fetch them after shots.

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Gulf Insider November 2014

Bahrain Ranked Best Expat Destination in ME Bahrain has been named as one of the top five destinations for expats, with two-thirds of those asked saying they have a better work and life balance than in their home country.

In the HSBC 2014 Expat Explorer survey, Bahrain ranks fifth overall in the world for expat satisfaction.

It is also second in the world for expat experience, ninth in suitability for raising children and 11th in “expat economics”.

More than 9,000 expats in 34 countries across the world were surveyed for the HSBC report on their quality of life, financial well-being and the ease of raising a family abroad.

At second on the list, Bahrain scored particularly well for quality of life – much better than other Middle Eastern countries such as Oman at 19th, the UAE at 21st, Qatar at 28th and Saudi Arabia at 32nd.

“Over half (53pc) of expats in Bahrain say they moved to improve their job prospects (compared with a global average of 38pc) and the majority have found that their work to life balance has improved since they arrived (62pc compared with a global average of 40pc),” said the report.

“This is particularly impressive when considering that 77pc of expats in the country say that they are earning more than they would do at home, compared with a global average of only 53pc.”

In addition, 47pc said they experienced a better working culture and environment compared with the regional average of 43pc and the global average of 39pc. – GULF DAILY NEWS

News

Schengen-Style Visa for GCC? Gulf hydrocarbon producers are planning to introduce a collective entry visa similar to the 25-nation European Schengen visa, and the plan will benefit 35 nationalities, according to a Kuwaiti official.

The new visa is intended to promote tourism and business within the six-nation Gulf Cooperation Council (GCC), said Samira Al Ghareeb, Assistant Undersecretary for Tourism at the Kuwaiti Ministry of Trade.

She told the Saudi daily ‘Al Eqtisadiah’ that plans for a “unified tourism visa” are being considered by the interior ministries in the GCC members – the UAE, Saudi Arabia, Kuwait, Qatar, Bahrain, and Oman.

“The unified visa targets 35 nationalities from Arab and foreign countries who are frequent visitors to the GCC. It will also be granted to expatriates working in the GCC countries provided they do not use it as a work visa,” she said. Ghareeb did not identify those nationalities.

– EMIRATES 24/7

Kuwait to Deport Brawling Expats without Right of Appeal Ministry of Interior intends to expand the circle of ‘immediate deportation’ to cover expatriates that engage in quarrels on streets and at commercial complexes, and subsequent to series of cases the country has registered lately and countless violations committed by some security operatives, the ministry will not hesitate to dismiss corrupt security elements.

In a statement, the Director of Public Relations and Moral Guidance Unit of Interior Ministry Brigadier Adel Al-Hashash stressed the decision of deporting troublemakers will curb the phenomena of chaos and quarrel that is taking root in the country and claiming life and property.

He indicated the Interior Ministry strictly applies law on violators without bias and the doors of police stations are open to all people to file complaints against citizens and expatriates who disturb public peace, and legal measures will be taken against them objectively .– ARAB TIMES

Sheikha Lubna Tops Female Power List, Fourth Year Running For the fourth year running, HE Sheikha Lubna Al Qassimi tops the CEO Middle East list of the Arab world’s most powerful women.

Sheikha Lubna was promoted to her current role as Minister of International Development last year. As the UAE’s first ever female minister, Sheikha Lubna has long been a trailblazer and mentor to Arab women the world over.

Haifa Al Mansour, the Saudi film director, was placed second. Her film, Wadjda, was the first Saudi film to be nominated for the Academy Awards last year.

The highest new entry was third-placed Reem Al Hashimy, the UAE’s Minister of State and managing director of Dubai’s victorious Expo 2020 bid team.

There were a record 33 new entries in this year’s list.

The CEO Middle East list examined the influence of Arab women across the globe in all sectors, including business, academia, science and entertainment. – ARABIAN BUSINESS

Bahrain Amends Visa Policies Bahrain’s Nationality, Passports and Residence Affairs (NPRA) announced the implementation of the unified visa fees with the Ministry of Foreign Affairs, which are effective from October 26, 2014.The fee changes were introduced to balance the differences between the NPRA and the ministry, and the increase is not significant when compared to the region. The visa fees at the King Fahad Causeway won’t be affected.

In addition, the NPRA confirmed the new policy for 2015, which will extend both business and tourist visas to one month, renewable for up to three months. Multiple-entry visa will also be expanded with no changes in fees.

For more information, visit www.evisa.gov.bh or www.npra.gov.bh.

Gulf Insider November 2014

37

Travel

A POWERFUL TOOL AT YOUR FINGERTIPS

Planning a stay at InterContinental Regency Bahrain?

Take to your mobile device – for it is now all you need.

I

nterContinental Regency Bahrain has not wasted time before catching on to the power of apps for those who seek maximum relaxation and minimum disturbance.

Designed to smooth out the experience before and during the stay, the hotel’s new fully integrated mobile application equips the hotel residents with an all-inclusive service package, delivered through some lovely, intuitive design.

The first-of-its-kind application, officially launched last month, offers the A to Z interactive features, which are bound to change the way customers utilise the services currently provided by the hotel. With little to no effort (and at no additional cost, as the application is free for download), the guests can now complete all their travel accommodation arrangements with nothing more than a

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Gulf Insider November 2014

smart phone at hand.

Start with searching for the most attractive rates and special offers; make an actual booking; and then, continue to make the best use of the application throughout your stay – be it a room service, a housekeeping request, an inhouse restaurant reservation, or a spa booking – it is all available via the app.

“At InterContinental Regency Bahrain, we take great pride in that we assess and address the individual needs of our customers,” said Michael Koth, General Manager and Regional General Manager – Bahrain and Kuwait.

“We felt this was the right move at the right time, as with the launch of our mobile application, we are able to take advantage of the popularity and versatility of the technological advancements at hand, and amplify the satisfaction factor of our customers,” he added.

The first-of-itskind application offers the A to Z interactive features, which are bound to change the way customers utilise the services currently provided by the hotel.

Overall, the app delivers its promise, as it offers a convenient user-friendly tool that makes the hotel residents’ lives much easier, so we have a feeling its popularity and practical usage is only set to grow.

For more information, call InterContinental Regency Bahrain on +973 1722 7777.

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Our other Software Solutions include: Financial Management and Accounting System Estimation and Project Management Software Fixed Assets Management Systems HR Systems Integratable to Bio-metric devices for time and attendance / overtime calculations

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Please feel free to contact us for a Free DEMO. Also visit www.mbafakhro.com to understand our company’s presence in Bahrain.

Software & IT Division

Call:

17540303

email:info@mbafakhro.com

Travel

solution if you have one, and then ask whom you should speak with to have the problem solved. ‘Should I speak to a manager about this?’ ‘Should I speak to housekeeping about this?’ Those are wonderful and beautiful questions to ask. Best of all? Ask for the employees name as nothing concentrates the mind better than knowing you can identify them later if everything is not resolved.

HOTEL INSIDER REVEALS SECRETS Getting Most Out of Your Stay Jacob Tomsky spills beans on the industry.

J

acob Tomsky and author of Heads In Beds: A Reckless Memoir Of Hotels, Hustles, And So-Called Hospitality started life as a valet in North America more than a decade ago and rose through the ranks to land a front desk job in New York. As a result, he knows some of the best and worst secrets of the industry.

Beware the hotel front desk. Not only do they hold the key to your room, they also hold the key to the difference between an average or a premier stay.

Knowing how to ask staff for things, how much to tip, how to book, when to push your cause and when definitely not to can transform the service you receive.

Here, we run through some of his best revelations.

1. Hotels make a packet on room rates - According to Jacob,

the average cost to turn over a room and keep it sleep-worthy is just $40.

That covers everything from washing sheets to electricity, hourly wages for housekeepers, minibar attendants, front desk agents and cleaning supplies. In other words, the whole shebang. ‘The fact that a hotel could fail to be profitable 40

Gulf Insider November 2014

astounds me,’ says Jacob.

2. Never pay for the mini bar -

Mini bars sit in every hotel room begging you to spend money. Amazingly, Jacob says you can almost always wriggle out of paying for them. According to him, the process for applying a mini bar bill is always horribly inexact and anything from keystroke errors, delays in restocking, double stocking and many other mishaps can cause miscalculations. People at the front desks don’t want an argument.

Jacob says, ‘Even before guests can manage to get through half of the ‘I never had those items’ sentence, I have already removed the charges and am now simply waiting for them to wrap up the overly zealous denial so we can both move on with our lives.’

3. Phrase it right - Getting the front desk to take your latest gripe seriously can be tricky. Jacob has some tips.

‘Though most complaints should be delivered to the front desk directly, in person or on the phone, keep in mind that most issues will not have been caused by the front desk at all.

So briefly outline your problem, offer a

4. Don’t book on discount sites and expect the world - It’s obvious but if you want the best room you have to fork out for it. Hotels give those who book through last minute discounts sites such as Expedia the worst, smallest dingiest rooms. They know you’ve come to them because of a one-off deal rather than through their own website - and most likely won’t be a repeat visitor. James explains, ‘First of all, we earn the slimmest profit from these reservations...[Secondly] since we have no reason to assume Internet guests will ever book with us again, unless our discount is presented to them, it truly makes business sense to save our best rooms for guests who book of their own volition.’

5. Tip like your life depends on it - Every front desk wields a certain

amount of power when it comes to awarding a guest a better time, and they’re almost always authorised to upgrade for special occasions. There’s always a room with a bigger TV screen, a room that, according to the building’s layout, has a larger bath and two sinks or a room that although listed as standard has a great view. All it takes? A decent tip. ‘When I feel that $20 you slipped me burning in my pocket, I will find [that upgrade] for you. And if there is nothing to be done room-wise, I have a slew of other options: late checkout, free movies, free minibar, room service amenities, and more. I will do whatever it takes to deserve the tip and then a little bit more in the hope that you’ll hit me again.’

Jacob Tomsky is the author of Heads In Beds: A Reckless Memoir Of Hotels, Hustles, And So-Called Hospitality.

Available from Amazon.com

Travel

“PUTTING PEOPLE FIRST”

M

arriott International held its annual Global Customer Appreciation Week (GCAW) last month. Can you tell us more about the event and the main concept behind it?

GCAW is an opportunity to highlight the great customer service provided by our associates. Throughout the week (October 19 to 23), sales associates from around the world will come together to show our clients exactly how Marriott puts people first. It is a time to reinforce relationships with existing customers and establish connections with new ones. It is a time to tell them how much Marriott values their businesses and the opportunity to thank them for their loyalty to our brands.

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Gulf Insider November 2014

Gulf Insider asks Reggie Titus, Director of Sales for Residence Inn by Marriott Manama Juffair about the brand’s “True North”.

GCAW dates back to mid-1990s. How did it all start?

The concept of “True North” was conceived by the Residence Inn brand team in January 1995. At the time, the team was working to develop its “hoshin”, a Japanese term defined as “shining needle pointing direction”, which indicates a compass needle that always points to the globe’s magnetic true North. The team adopted the name and image, and brainstormed to define Residence Inn’s “shining needle”. They captured the brand’s essence and strategic direction in one bullet point, which is the pursuit of extended stay: “Aggressive, Responsible, Profitable”.

The following year, the idea of “True North” grew into a week-long celebration

for Residence Inn. In 1996, “True North” was changed to Global Customer Appreciation Week, and extended to include all brands.

Marriott prides itself to always “put people first”. How do you put it into practice in day-to-day operations?

“Putting people first” is not only our motto, but also the way we work.

In various aspects of our operations, we pass this on to all our associates, for example – in a form of a 15-minute training every morning, or a “daily huddle”.

For our guests, we are always ahead of their expectations – be it an extended stay with personalised service, such as customised cappuccino with breakfast; or a complementary GM’s reception to keep in touch with our internal guests.

In general, what is Marriott’s strategic direction for strengthening existing customer relationships and connecting with new ones?

Apart from our personal, ‘human’ touch and our sales and marketing efforts, we have the Marriott Rewards programme, which has been named top hotel loyalty programme in the first-ever Fortune and Travel + Leisure ‘Best in Business Travel Survey’.

We also maintain active social media interaction along with Flash Perks and Plus Points programme. And, with our constant update in technological innovation, our Marriott Reward guests can use mobile check-in options.

These features, among other creative interactions, bring us closer to our existing customers and entice new guests to become part of our family.

As a Director of Sales for Residence Inn by Marriott Manama Juffair, how do you implement Marriott’s key objectives?

It is crucial for us to spend quality time with our guests in order to know their requirements and take every opportunity to go above and beyond.

It is also important to ensure the entire Residence Inn team shares the same objective, and strives to make our guests feel ‘home away from home’.

Travel

Bahrain’s BEST Hotels & Serviced Apartments The Arabian Review

Le Meridien Bahrain City Centre 

is available at these premier Bahrain properties!

Directly connected to City Centre Mall, the hotel has meeting and dining venues.

Tel: +973 1717 1111

Al Areen Palace & Spa 

lemeridienbahraincitycentre.com

Home to the largest spa in Bahrain. Luxury private villas seclusion far from Manama. 6 restaurants.

No alcohol served.

Tel: +973 1784 5000

Ramee Grand Hotel & Spa 

Located in Seef close to major shopping centers.

Outlets include Japanese restaurant on 27th floor.

Tel: +973 1711 1999

alareenpalace.com

Crowne Plaza 

rameegrandbahrain.com

Large business and conference venues and an array of restaurants, bars, and cafes, plus health club.

Tel: +973 1753 1122

Marriott Exec. Aprts. 

Close for both central Manama and the restaurants and nightlife of Juffair and Adliya.

Tel: +973 1736 3999

cp-bahrain.com

Diplomat Radisson Blu Hotel, Residence & Spa

Hotel & Serviced Apartments



Hotel & Serviced Apartments

The Ritz-Carlton, Bahrain Hotel & Spa

Includes Mediterranean bistro, Irish pub, large lagoon pool, and a Thai-inspired spa.

Tel: +973 1753 1666



Direct access to a private beach and lagoon, and adjacent to the popular Trader Vic’s restaurant.

Tel: +973 1758 0000

radissonblu.com

ritzcarlton.com

Fraser Suites Seef Bahrain ( facilities)

Sheraton Bahrain Hotel 

Located in Seef within walking distance of Bahrain’s main shopping.

Tel: +973 1756 9333 Hotel & Serviced Apartments

Located in Manama next to Bahrain World Trade Centre.

Tel: +973 1753 3533

frasershospitality.com

sheraton.com

Gulf Hotel 

Hotel & Serviced Apartments

Sofitel Bahrain Zallaq Thalassa Sea & Spa 

Hotel and Gulf Convention Centre close to Adliya’s many restaurants and nightlife venues, with 9 top class restaurants.

Tel: +973 1771 3000

Private beach. Located out of town, close to F1 circuit.

Tel: +973 1763 6363

gulfhotelbahrain.com

sofitel.com

InterContinental Regency Bahrain

Elite Group (3, 4 and )



4 All Suites Hotels and 4 Luxury Residences. All offer a range of bars, nightclubs, health clubs, spas and conferencing facilities.

Tel: +973 1756 5888

Recently renovated business hotel in central Manama.

Tel: +973 1722 7777

icbahrain.com

Hotel & Serviced Apartments

Mövenpick Hotel Bahrain  moevenpick.com

Hotel & Serviced Apartments

Directly connected to the mall and featuring, dining venues, meeting rooms and the Heavenly Spa with Bahrain’s largest Turkish Hamman.

Tel: +973 1717 1000

westinbahraincitycentre.com

elitegroup4u.com

Al Manzil 

Located next to the airport, boutique style hotel overlooks a lagoon.

Tel: +973 1746 0000

The Westin Bahrain City Centre 

marriott.com

Business hotel, with easy access to financial and diplomatic areas - Adlya/Juffair’s restaurants and nightlife.

Tel: +973 1781 3366

almanzilhotelbh.com

The Domain Bahrain Hotel 

Boutique hotel in Diplomatic area. Several trendy restaurants, lounges, and bars.

Tel: +973 1600 0000

thedomainhotels.com Gulf Insider November 2014

43

Life

RAHIM ABU OMAR

General Manager of the Gulf Hotel, Bahrain

R

ahim Abu Omar has 33 years of international hotel management experience. He has worked in the UAE, the UK, and Lebanon and was recognized as one

of the top 50 influential hoteliers in the Middle East by Hotelier ME magazine.

How did you get into the hotel industry?

When I was a teenager in Jordan I worked in a travel agency and quickly realized that this was the field I wanted to be involved in.

After I had studied Chemistry, at my father’s behest, and Business M a n a g e m e n t at University of Jordan I chose to study Hospitality Management at Cornell University in the USA.

How does Bahrain compare with Dubai?

In Dubai it’s easy to get things done quickly and there’s minimal red tape. The

pace is frenetic and the employment environment is highly demanding.

Bahrain, in comparison, I would describe as offering ‘real life’, where things might take some time, to ensure maximum results. It’s just different. I have worked in the UAE, the UK, and Lebanon. I never considered I would ever work in Bahrain.

Now I am here I regret I didn’t come here earlier.

Do you have any major changes planned for the Gulf Hotel?

We will be adding to our already impressive line of restaurant outlets and will open a brand new spa next summer - a major project that will offer substantially improved facilities. But I see my job here as one of fine tuning and of capitalizing on an already highly successful brand. The Gulf Hotel has been about for 45 years. It is the most established luxury hotel in Bahrain.

It certainly does not need any major changes to how it is managed.

What do you most ‘love’, and ‘hate’, about your work?

I love meeting and looking after people, whether they be customers or staff. When I was transferred to the corporate office I lasted six months because I missed being in a hotel environment working with real people.

There’s nothing I could say that I ‘hate’, but if I had to find one criticism it would be that working such long hours, often without breaks even at the weekend, takes a lot out of your life. I wear a suit virtually every single day. That said, on weekends I sometimes allow myself the luxury of removing my tie.

What advice would you give to someone entering the hospitality industry?

Hospitality is not a nine to five job.

Those who wish to be successful must treat it as their vocation. But be smart enough to recognize the difference between what’s urgent and what’s important, and always make sure that you take care of your family, finances, and fitness.

Rahim Abu Omar 44

Gulf Insider November 2014

Life

LUNCH BUFFET AT

LA MED

In the land of skyscrapers and desert terrains, Gulf Insider meets with friends for a Mediterranean-esque escape.

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Gulf Insider November 2014

Life

FINE DINING THE AMBIENCE The first thing we notice as we enter the venue is an ample space filled with natural light. La Med is surely living up to its name – a refreshing mixture of whites, pale blues, and greys give off that genuine Mediterranean vibe, with the elegant furnishing hinting at Frenchstyle interior design.

We make ourselves comfortable by a large table located in a private room, the entrance of which can be closed for extra privacy. The section is big enough to accommodate one additional, although a tad smaller, table and a comfy sofa in the sitting area. A lovely fireplace complements the cosy atmosphere of a home we actually wouldn’t mind to live in.

THE MENU After a quick look over a buffet table, we know that none of our guests will leave disappointed; the abundant choice of entrées offers a blend of Mediterranean and Arabic cuisine, a daily carving station and BBQ, and a live cooking station for any special requests (in case the lavish buffet itself fails to satisfy your cravings).

Following a meal, we move onto a terrace overlooking a pool and a garden – both of which can be seen from inside the venue through the spacious windows. The terrace proves to be a perfect place to relax and continue to enjoy the tranquil atmosphere.

THE FINAL VERDICT La Med makes an ideal location for large dinner parties, where every last detail will be taken care of by their attentive staff. All that will be left for you to do is kick back and have a great time.

Mediterranean style.

La Med’s lunch buffet is served daily from noon to 3:30 PM, at The Ritz-Carlton, Bahrain Hotel & Spa located in Seef district.

For reservations and more information, call +973 1758 6499 or email rc.bahrz. restaurant.reservations@ritzcarlton.com.

“I found the menu superb and spoilt for choice. The food was simply perfect.”

ALDRED RYAN D’SOUZA Account Manager TBWA / RAAD / ALMOAYYED

“With its refreshing ambience and mouthwatering entrées, La Med is great for dining out – be it lunch or dinner.”

DAYANAND THOTTAPAYIL Group Head Buying Manager Mediaedge

“Delicious food, bathed-in-light setting, lovely atmosphere... What’s not to like!

I am now personally recommending La Med to all my friends.”

NOOR GHAZWAN Marketing Citibank Bahrain

Price: BD12.5++

Gulf Insider November 2014

47

Style

OMEGA

SEAMASTER PLANET OCEAN

A serious dive watch capable of depths of 600 meters!

Of course 99.5% of owners will never test its abilities beyond their swimming pools, and maybe Jacuzzis!

Nick Cooksey, reviews his all time favorite watches…

REVIEW #2

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Gulf Insider November 2014

T

he Seamaster Planet Ocean was released in 2005 to compete with, in particular, the Rolex Submariner (which is only capable of a depth of 200 meters).

There’s a choice of 42 and 45.5mm diameters, different face/bezel colours, you can opt for orange numerals (apparently better visible under water), choose between steel or titanium casing. There’s a chronograph version, a GMT version, a “Liquid Metal” version, which is the name of an Omega patented method of mixing a zirconium based alloy to ceramic which gives added strength as well as beauty to the bezel. There’s even a James Bond version commemorating the sponsorship deal which had Daniel Craig, playing James Bond, wearing a Planet Ocean.

Style

Inside there’s an automatic/selfwinding movement with a 48 hour power reserve. The ingeniously designed in-house ‘8500’ movement only requires servicing every four years as opposed to two years for most other watches due to its clever co-axial system that reduces friction, and therefore wear and tear.

As this is a dive watch there’s a unidirectional rotating bezel. A further indication of its serious deep water abilities is the helium release valve. This is something that would only have any real practical use if deep under water experiencing decompression in a diving bell where such a valve will help protect the watch against helium atoms damaging its inner workings. You certainly won’t need this application on an average diving trip!

There’s non-reflective sapphire crystal front and back - the clear case-back reveals the watch movement. This is rare to be offered on a watch capable of diving to such great depths.

The previous aluminum bezel on the Planet Ocean has been replaced with a ceramic bezel which is scratchproof and looks better. The stainless steel bracelet

So, as Omega and Rolex are clear rivals, which is best?

has a sateen-like surface, a secure folding clasp that’s opened by pressing two buttons, and can be extended so it can be worn over a diving suit. The lume is great. I tested the watch in the dark and the dial glows really brightly.

The Planet Ocean is a tough, beautiful, dependable, and desirable watch.

So, as Omega and Rolex are clear rivals, which is best? Well, in brand image few would argue that Omega is pretender to Rolex’s throne. And a Rolex typically costs about 50% more than a similar model Omega. This watch starts at around $6,000, compared to around $8,000 for a Submariner, or around $10,000 for the Rolex Sea Dweller for which in fairness it is a closer match. But, Omega is in no way of any lesser build or technical quality and have successfully moved upmarket over the years thanks to superb and innovative engineering and design, and by providing numerous options to suit different customer needs.

So Rolex had better be careful.

The Omega Seamaster Planet Ocean is available in Bahrain from BJC outlets including Moda Mall and the Omega boutique in City Centre.

Gulf Insider November 2014

49

Style

5 OF THE MOST EXPENSIVE WATCHES IN THE WORLD Here are five of the world’s most expensive watches prized for their craftsmanship and lineage. (...more next month)

1

Vacheron Constantin New Traditionnelle World Time

Thanks to an incredible Calibre 2460 WT movement, the flagship of the Excellence Platine collection, first introduced in 2011 and now available in platinum, takes the Vacheron brand to the next level. Two significant hallmarks to note: the new hand-engraved center dial world map (with a shaded area on the map to reflect day or night) and a dial that is the first to reflect the upcoming time zone change in Moscow, effective October 26, which will change from being three to two hours ahead of Geneva. This 42.5 mm timepiece has three patents: for the indication of 37 time zones, for the day/night indication, and for crown-operated adjustments.

Price: $98,500

2

Chopard L.U.C Tourbillon Qualité Fleurier Fairmined

This 43mm tourbillon with nine-day power reserve (placed over the 12 o’clock numeral) features alternating satin-brushed and polished surfaces making it the ultimate evening watch. Chopard’s grey dials are some of the most striking in the market — and this one couples a subtle sunburst on the ruthenium dial along with Roman numerals for a decidedly retro 1930s aesthetic. Beyond the use of its patented Quattro technology boasting four stacked and series-coupled barrels, what’s perhaps most striking about the timepiece is the gorgeous bridge cage in which the tourbillon is housed.

Price: $144,570

Men’s Journal 50

Gulf Insider November 2014

3

Montblanc Villeret 1858 ExoTourbillon Chronographe

One of five variations, this particular timepiece is the first to unite two of watchmaking’s most admired horological complications: the tourbillon and chronograph functions. Its ExoTourbillon name comes from the tourbillon having a balance larger than the cage — thus oscillating outside of said cage on a higher plane and with greater precision.

This equates to 30 percent energy savings, which are then used to power the chronograph’s functions. Aside from the hand-guilloched solid gold dial, what also distinguishes this series of timepieces is the hunter-style caseback reminiscent of vintage pocket watches. On the actual mechanism, meanwhile, is engraved the word Minerva, a respectful homage to the esteemed factory that now houses Montblanc’s Villeret facility — the only manufacturer in the world to produce all its parts (including balance springs) in-house.

Price: $264,500

4

A. Lange & Söhne Lange 1 Tourbillon Perpetual Calendar

One of four timepieces first presented after the brand’s re-establishment in 1994, the classic Lange 1, with its asymmetric, overlap-free displays and iconic outsize date, receives additional prominence with the inclusion of perpetual calendar and tourbillon mechanisms. To accommodate the new additions without sacrificing design, Lange watchmakers moved the months to a chic peripheral ring.

The “hidden” tourbillon, meanwhile, is fully visible through the sapphire-crystal caseback.

Price: $332,500

Style

5

Greubel Forsey Double Tourbillon 30° Technique

Limited to 22 pieces, this timepiece is arguably the ultimate of high-end niche watchmaking from a brand that’s just 10 years old. An inner tourbillon positioned at a 30-degree angle that rotates once every minute and an outer tourbillon that rotates once every four minutes? The 47.5 mm platinum case boasts titanium sides and black chromium treatment on the bridges and main plate.

Price: $620,000

CHOPARD: LOOKING AFTER THE SEVENTH ART

C

inecittà, “the dream factory” (as this movie studio complex built in 1937 is often referred to), has played a key role in the rise of Italian and world cinema.

Over 3,000 films have been shot here, of which some 50 have won an Oscar.

With its longstanding involvement in the world of the seventh art, and notably through its close ties with the Cannes Film Festival, Chopard decided to support the renovation of parts of this legendary location.

On the eve of the ninth edition of the International Rome Film Festival, Caroline Scheufele, Co-President of Chopard, Roberto Cicutto, President of the Istituto Luce Cinecittà, and Luigi Abete, Honorary President of Cinecittà Studios, unveiled the new façade of the famous Italian studios. The inauguration marked the first stage of a three-year partnership between Chopard, Cinecittà Studios, and the Instituto Luce Cinecittà, who aim to renovate the premises as well as rolls of cult films that were shot here.

the opportunity of admiring a sumptuous show highlighting the Haute Joaillerie creations from the Red Carpet collection, for which Caroline Scheufele draws inspiration from actresses and red carpets from all over the world.

Chopard is a partner to the Cannes Film Festival since 1998. Since that time, it has produced the famous Palme d’Or in its Geneva workshops, and adorned the greatest actresses as they appeared on the red carpet. The brand is also consistently present the Oscars, BAFTA awards, and the Venice Biennial.

The restoration work initially required removing all the existing paint on the building and recreating the original frescoes in traditional restoration techniques – based on the patient research work by the staff of Cinecittà in collaboration with the historic monument department at Roma Capitale.

After the ceremony, the guests, including art director and three-time Oscar winner Dante Ferretti, International Rome Film Festival Director Marco Müller, and Princess Isabella Borromeo, were given

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Style

CORNELIANI

A BYWORD FOR STYLE

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urrounded by three small lakes, the town of Mantua – a UNESCO World Heritage Site – is steeped in art and culture. It is a truly enchanting place, which certainly inspired Alfredo Corneliani’s approach to style, one which places substance over form in the pursuit of beauty.

In the 1930s, Corneliani decided to set up in Mantua a craft business that manufactured raincoats and overcoats, and it was an instant success. After the Second World War halted the production, Alfredo’s sons, Claudio and Carlalberto, went on to found Corneliani S.p.A. in 1958, giving the company a size, identity, and standard that have made it a global

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reference point for high-end menswear.

Today, with several single-brand boutiques around the globe, the company’s Mantua plant remains the nexus for design, research, and production for the clothes and accessories, which have made Corneliani fashion synonymous with the finest Italian-made goods and a byword for style.

The Continuity of the Past in the Present Now in its third generation in business, Corneliani’s practice of continuing

the highest tailoring savoir-faire and safeguarding hand stitching and finishing is completed and enhanced by cuttingedge technology. This ensures that the quality of the past lives on in the present, while the design process guarantees dynamism and modernity.

Constant research into shapes and volumes produces designs, which are ever sharper, cleaner and more elegant, while impeccable tailoring makes it possible to use surprisingly lightweight materials.

The result is the perfect suit – the quintessence of master tailoring – made with the very finest fabrics and a continually updated approach.

Style

MUST HAVES IN HISTORY 1930s Alfredo Corneliani sets up a craft business in Mantua.

1958

Alfredo’s sons, Claudio and Carlalberto, found Corneliani S.p.A.

1985

The company sets up Corneliani USA Inc. in New York.

1991 Carlalberto Corneliani, Group President and CEO, is awarded the prestigious Cavaliere del Lavoro.

1997 Corneliani opens up a singlebrand store in Milan.

2005

Corneliani receives the Leonardo Prize for Quality.

2008

The company celebrates 50th year in business.

2013

The Group opens a directlyowned flagship store in Shanghai.

The Art of Made-to-Measure The customisation of details defines uniqueness. Cherishing the sartorial wisdom and a high concept of style for over 50 years, Corneliani manufactures and delivers tailored made-to-measure suits worldwide. Precious hand sewing and finishing operations alternate with the most sophisticated technology, and over 150 steps for the construction of the jacket, all in compliance with the highest expression of Italian manufacturing prowess, guarantee the supreme quality – the indispensable value which underpins every aspect of Corneliani suit.

Corneliani’s first ever Middle Eastern boutique in Bahrain was opened last month at the Moda Mall, located in Bahrain World Trade Centre, Shop 10-B. For more information, call +973 1752 2842.

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Style

A TROPICAL SIGN DE& PUNCH DÉCOR Bring a tranquil island feel to your interiors with THE One’s Autumn/Winter Collection.

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Style

1. HOU 3.5-seater sofa – BD 435 2. FLARBERT coffee table – BD 269 3. SOFIA leather stool – BD 155 4. ANSLEY cushion – BD 16.250 5. KENNY vase – BD 75.500 6. MOUNT coral deco – BD 18.250 7. STRELITZIA stem – BD 6.500

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Style

THE GADGET THAT TURNS YOU INTO A FISH

Mask lets you breathe underwater without oxygen tanks.

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South Korean designer has created a concept gadget that claims to instantly transform the user into a human fish. The mask, dubbed Triton, acts like a fish gill to extract oxygen from water so that the user can keep on breathing while under the sea.

To use Triton, swimmers bite down on a plastic mouth piece.

Two arms, which branch out to the sides of the scuba mask, can then function as efficient gills to deliver oxygen.

The scaly texture on the arms conceal small holes in the material where water is sucked in.

Chambers inside separate the oxygen and release the liquid so that the user can breathe comfortably in the ocean.

TECH PICKS Using a very small but powerful micro compressor, the concept system would compress oxygen and store it in tanks.

The entire gadget is powered by micro battery which is around 30 times smaller than a current battery that can quickly charge 1,000 times faster.

But you may have to wait a little longer before placing an order as the product is still at concept stage.

Two arms, which branch out to the sides of the scuba mask, can then function as efficient gills to deliver oxygen.

FIREFLY LDH EMERALD LASERLAMP

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ulf Insider were given a sample of this very interesting device last month and we love it. Put it in the corner of any room, switch it on, and enjoy an amazing effect that’s wonderful on the eyes.

Firefly LDH – which stands for laser dodecahedron, referring to the shape – brings you the state-of-the-art lighting in a form of a personal, portable laserlamp. It is a hybrid lamp for utility and entertainment. Unlike everyday incandescent light, which pools around the bulb and weakens across space, laser light can beam a hundred feet. Each little Firefly dot is its own source of light. When compared to a common four watt LED nightlight, the Firefly produces better light and coverage at less than half the power usage.

To order, visit www.gottagadgets.nl Price: USD 63.44 56

Gulf Insider November 2014

FOCUSSING HISTORY

NOW ON SALE ONLY BD 15/

Presenting the rich heritage of Bahrain and history of major companies including the business families and is illustrated by more than 3,000 photographs of Bahrain’s most influential decisionmakers and business leaders.

DIRECTORY 2014-2015 BAHRAIN EDITION

Publishers Sunliz Publications W.L.L., P.O.Box 2688, Manama, Kingdom of Bahrain.

Tel: 17276682, Mob: 39441956 email: kulathakal49@gmail.com, kulathakal@yahoo.com

To get your copy please contact Tel: 17290000 / 17225998

Cars

CAR NEWS AL MOAYYED MOTORS LAUNCHES LINCOLN MKC 2015 Almoayyed Motors last month introduced to Bahrain at Block 338 Restaurant in Adliya, the new 2015 Lincoln MKC – a completely revamped model featuring a 2.0 litre EcoBoost engine that produces 240 horsepower at 5,500 rpm and 270 lb.-ft. of torque at 3,000 rpm.

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EURO MOTORS CELEBRATES FIRST YEAR OF ITS JAGUAR TAKEOVER IN BAHRAIN Euro Motors, last month celebrated their first anniversary of taking control of the Jaguar brand in Bahrain by launching a Financial Services Package with the Bank of Bahrain and Kuwait (BBK) during a press conference and media lunch. This step is in conjunction with Jaguar Land Rover’s launch of a branded Financial Services Programme across its key dealer network in the MENA region.

The launch also announced the appointment of Mr. Simon Ellis as the new General Manager of Euro Motors Jaguar Land Rover in Bahrain. Mr. Ellis comes from a strong automotive background, having worked with renowned brands in the GCC and the United Kingdom and brings with him a wealth of over 22 years of automotive sales and marketing experience.

Cars

BAHRAIN BIKE WEEK RETURNS FOR THE FIFTH YEAR

PORSCHE CENTRE BAHRAIN APPOINTS COLIN SATTAR AS NEW BRAND MANAGER Porsche Centre Bahrain, Behbehani Brothers w.l.l., has announced the appointment of Colin Sattar as Brand Manager. Sattar has more than 27 years of automotive industry experience. Starting his career in the UK, he progressed to operate a premium dealership which was voted number one for customer service. He then took up a new challenge in the Middle East, holding the position of General Manager, Riyadh Region at Al Ghassan Motors, working with top luxury automotive brands.

ALL-NEW PORSCHE CAYENNE Porsche Centre Bahrain, Behbehani Brothers w.l.l., last month launched the all-new Cayenne at the Royal Golf Club.

The bike enthusiasts on the island are in for a treat next month, with the preparations for the 5th Bahrain Bike Week 2014 in full swing. One of the most anticipated motorcycle events of the year in the kingdom will be held from December 4 to 6 at the Al Bander Hotel & Resort. As per the organisers, Star Events Management, the event will see over 400 participants from all around the GCC region.

SCHEDULE

Thursday, December 4  Registration of participants at Al Bander Hotel & Resort  Crossing of participants from GCC via King Fahd Causeway  Top Gun show  Kids’ entertainment  Welcome dinner party for registered participants at Al Bander Hotel & Resort  Recognition for sponsors and government officials Friday, December 5 Morning group ride  Afternoon parade  Bike Show – a competition judged by recognised experts from across GCC  Entertainment  Announcement of Bike Show winners  Motorcycle clubs and groups recognition 

E.K. KANOO LAUNCHES T-CONNECT Ebrahim K. Kanoo launched the smartphone-based service application called T-Connect, which is an interactive telematics service.

It has been designed for Toyota customers to offer instant access to navigation, directory information, off-road tracking, and other features. The app’s navigation feature offers turn-by-turn directions, with up to five colour-coordinated optional routes based on shortest distance, best route, main road, and alternative routes for the user to choose from, as well as the bilingual operator service in English and Arabic. Plus, a customer service team is available at all times to help the customers find their choice of dinning, shopping, or recreational destinations.

Saturday, December 6  National Day Festival  Entertainment and family day

For more information, call +973 1771 3716, +973 3645 1527, or +973 3773 3013, or email lovely@stareventsme.com.

Registration fee for the bikers is BD 40, which includes three-day entrance, Bike Show entry, welcome dinner party, two days breakfast, and event package kit.

Spectators are welcome with the entrance fee of BD 2 (adults) and BD 1 (children between 5 and 12 years old).

Bahrain Bike Week @starevents_bh

@bahrainbikeweek

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Cars

ROLLS ROYCE GHOST II

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olls Royce has enjoyed considerable success over the past few years. In 2013 they sold 3,630 cars which represented their fourth consecutive year of record sales. 2014 looks like being the fifth such year with sales 33% up in the first half of the year compared with 2013.

I had the opportunity of experiencing something close to the oasis of calm the company aims to provide its superbly wealthy and demanding customers last month when I visited Dubai to experience the launch of the new Ghost ll.

Of course Rolls Royce is not your normal car. In the summer I visited the company’s factory in Goodwood,

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“Take the best that exists, and make it better” – Sir Henry Royce

By Nick Cooksey

England. The super modern and high tech building with glass walls is set in some of the UK’s most beautiful countryside.

There I met with CEO Torsten MullerOtvos who told me that customers of the brand typically are in the lucky position to be able to spend between fifteen and thirty million pounds ($25- 45 million) a year on themselves. These are the sort of people who will also purchase fine art, private helicopters and Swiss ski chalets.

Before I had the pleasure of driving the new Ghost ll, executives from the company who had flown from England for the occasion explained the ethos of the company and various technologies used in their motor cars. The project manager for the Ghost ll explained

that their aim had been to create a ‘masterpiece’, and assured all those gathered that the car is not only an object d’art, but a practical vehicle for both the business and pleasure of its owner, allowing them to travel while relaxing or attending to their business in spacious luxury and comfort.

Launched in 2009, this ‘entry level’ Rolls Royce has played its part in Rolls Royce sales increasing threefold since its launch, opening the brand to a new customer base. The same can be said of the recently launched Wraith, a 2 door sporting coupe that is currently responsible for much of the company’s current growth.

So what makes the new Ghost different from its predecessor? Well, it certainly doesn’t look much different – in fact few people will be able to tell one from the other, but there’s a long list of detail changes to both the interior and exterior, much if not all of which is based on the feedback of customers. Visually, the first thing noticeable is that the new Ghost looks slightly wider due to the slimmer headlights being spaced 50mm further apart from each other.

A big difference claimed by the company is to the seating both front and rear that, I’m told, is substantially improved. The old seats seemed comfortable enough to me and I can’t say that I really noticed the difference.

One thing that has not been altered in any way is the eight speed automatic

Cars

563 bhp 6.6 liter V12 engine, the same engine that is used in the Wraith, which Rolls Royce say they believe is perfect as it is.

Few Rolls Royce cars are the same, and within the Arabian Gulf the company’s executives informed me that every car is ‘bespoke’ – uniquely created for the owner thanks to the huge array of choices available for options and materials including scores of different leathers and woods.

The company prides itself on being able to deliver on just about any customer requirement providing of course that such requests do not impinge on the cars safety features.

Taking the car for a nice long drive was a joy and I was able to enjoy its space, refinement, smooth/ abundant yet near silent power, and a sense of old fashioned English style blended with cutting edge technology and handling. There are other, much cheaper, top end cars available that are more responsive and comfortable, but look closely and the qualities of materials used, the craftsmanship, and the overall emotional sense of ‘prestige’ is far superior in the Ghost.

Visually, the first thing noticeable is that the new Ghost looks slightly wider due to the slimmer headlights being spaced 50mm further apart from each other.

The Rolls Royce dealership in Bahrain is EuroMotors, tel. +973 17 750 698

The author of this article, Nick Cooksey, in addition to being publisher of Arabian Magazines and Gulf Insider Media, is a jury panel member of the Middle East Motor Awards.

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Cars

AS HUNDREDS OF RIDERS RUMBLE THROUGH THE STREETS Bahraini Harley Owners Group Chapter embarks on a mission to change common misconceptions about bikes and the bikers themselves.

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ften associated with freedom, open roads, and “raw power,” the Harley lifestyle has been gaining in popularity across the globe in recent decades.

In 1983, in response to riders’ need to share their passion with likeminded folks, Harley-Davidson established the Harley Owners Group (HOG). In 2014, Bahrain’s first HOG Rally has made it official – the islanders have caught the Harley bug.

BAHRAIN WELCOMES THE HARLEY CULTURE The opening ceremony, held at the King Fahad Causeway, saw hundreds of motorcycle riders and other riding enthusiasts arrive from all over the MENA region, via Saudi Arabia, to participate in the event.

“Our main vision as HOG Bahrain is to create awareness amongst non-riders that bikers in general are responsible, road-friendly, and safe,” said Shaikh Abdulla bin Ahmed Al Khalifa, Director 62

Gulf Insider November 2014

Photo by: Mohammed Al Sharqi

Cars

of the HOG Bahrain Chapter, as he welcomed the riders, “We intend to position Bahrain as the premier place for motorsports activities and this rally will go a long way in cementing that position.”

The rally took off with a unique motorcycle rider’s parade from Al A’ali

and historical artefacts and Harley Davidson culture in general – followed by live performance by the local band Likwid.

The three-day bash concluded with a launch of the 2015 range of Harley Davidson motorcycles, before all the GCC-bound bikers gathered on the causeway for their return-home ride.

The event took place from October 16 to 18. HOG is a not-for-profit organisation with more than 1.5 million members around the world. The local Chapter, officially recognised as a HOG member, promotes responsible motorcycling activities that support a positive image of the sport of motorcycling.

“Our main vision as HOG Bahrain is to create awareness amongst nonriders that bikers in general are responsible, roadfriendly, and safe,” mall to the Bahrain International Circuit (BIC), where they were welcomed by crowds of both local and regional enthusiasts.

The event was then officially launched

by H.E. Shaikh Khalid bin Humood Al-Khalifa, Culture Ministry AssistantUndersecretary for Tourism, in the presence of other officials and members of the HOG Bahrain Chapter Committee.

Everyone was invited to the BIC for some family-oriented games and shows, including motorcycle stunts performed by the famous Top Guns from Riyadh, Saudi Arabia, and first ever Harley Davidson expo showcasing motorcycles Gulf Insider November 2014

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Art

Haunting photographs offer insight into the lives of refugees forced from their homes by the conflict in Syria.

PALE-EYED PORTRAITS OF KURDISTAN Photographs By Eric Lafforgue

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taring into the camera, the girl’s striking blue eyes are full of unshed tears. And she isn’t alone. The girl in the polka dot headscarf and her family are just some of the thousands of people who have crossed the border into Iraq in a bid to escape the slaughter in Syria.

Although the raging civil war has cost her family their home, the girl is luckier than most. An ethnic Kurd, she has managed to escape the fighting that has taken the lives of thousands of her compatriots as well as the bouts of ethnic violence that have taken the lives of Kurds in Syria, Iraq, Turkey and Iran over the last century.

Now she and other Kurdish refugees are the subject of a series of stunning photographs by French snapper Eric Lafforgue who travelled to Iraq last month to meet them.

Since the fall of the dictator, Iraq has 64

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Art

Most striking of all is the fact that nearly all have stunning blue eyes - unusual among Middle Eastern people, for whom liquid dark brown is the norm. become a safer place for Kurds thanks to the creation of a Kurdish statelet within the country where many of those fleeing violence in Syria have taken shelter.

‘Nowadays, many Kurdish Syrian refugees have found shelter in Kurdistan,’ adds Lafforgue. ‘It was interesting to meet people who have led such a difficult life and who are trying to build a new nation.

‘The girl in the polka dot scarf lives in a refugee camp in Erbil [in Iraqi Kurdistan] and had to leave her village [in Syria] two months ago after it was bombed. They have nothing, just the help of the other Kurds.’

And life in the refugee camp is far from easy. ‘Winter will come with the rains, and everybody fears the worst,’ explains Lafforgue. ‘Her beauty hides a cruel reality.’

Despite their difficult circumstances, Lafforgue reveals that not only were the refugees happy to let him photograph them, they proved generous and welcoming hosts.

‘They all welcomed me as a friend and offered me food and drink, even when they had nothing for them,’ he remembers.

Other portraits in the series include that of an older woman, in a vibrant cerulean headscarf, and a little blond boy whose face still bears traces of a recent ordeal.

Most striking of all is the fact that nearly all have stunning blue eyes - unusual among Middle Eastern people, for whom liquid dark brown is the norm.

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Last Word

IF YOU’RE STILL POOR AT 35, YOU DESERVE IT!

By Jack Ma

night awake in the day to find all was vanity. But the dreamers of day are dangerous men, for they may act their dreams with open eyes, and make it possible.”

People lose out in life because of these 4 reasons: 1. Being myopic to opportunity 2. Looking down on opportunities 3. Lacking understanding 4. Failing to act quickly enough

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efore I founded Alibaba, I invited 24 friends to my house to discuss the business opportunity. After discussing for a full two hours, the verdict was 23 out of the 24 people in the room told me to drop the idea, for a multitude of reasons, such as: ‘you do not know anything about the internet, and more prominently, you do not have the startup capital for this’ etc etc.

There was only one friend who told me, “If you want to do it, just try it.

If things don’t work out the way you expected it to, you can always revert back to what you were doing before.” I pondered upon this for one night, and by the next morning, I decided I would do it anyway, even if all of the 24 people opposed the idea.

Looking back, I realised that the biggest driving force for me then was not my confidence in the Internet and the potential it held, but the realization that no matter what one does, regardless of 66

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You are poor because you do not have the desire to become successful, you lack foresight, you cannot overcome your cowardice, lack courage and determination. failure or success, the experience is a form of success in itself. You have got to keep trying, and if it doesn’t work, you always can revert back to what you were doing before.

As with this quote by T.E. Lawrence – “All men dream: but not equally. Those who dream in the dark recesses of the

You are poor, because you have no ambition. Ambition is living a life of great ideals; a magnificent goal in life that must be realized. The depth of one’s ambition determines the potential of one’s future. You are poor because you do not have the desire to become successful, you lack foresight, you cannot overcome your cowardice, lack courage and determination.

With ambition you can overcome all inferiority and maximise your potential, continuously learn new things and strive for perfection, defy all odds, and create miracles when others daren’t. No matter how poor your family is, do not doubt your own abilities and lose sight of your ambition. When your parents do not have money to pay the medical bills, no one will pity you. When you are beaten by your competitors, no one will pity you. When your loved ones abandon you, no one will pity you. When you have not accomplished anything by the time you are 35, no one will pity you.

Go big. Otherwise, you’re wasting your youth.

The article is originally published in Chinese, and is translated into English.

About Jack Ma: Jack Ma is a Chinese Internet entrepreneur. He is the Executive Chairman of Alibaba Group, a family of highly successful Internetbased businesses. He is also the first mainland Chinese entrepreneur to appear on the cover of Forbes Magazine and ranks as one of the world’s billionaires. Ma was named the Financial Times’ 2013 Person of the Year because he personifies the Chinese internet, referring to him as the “godfather of China’s scrappy entrepreneurial spirit.”

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