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The Arabian Review

Issue 116

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The women who don’t mind leading

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CHANGING HERSTORY 12

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22 Special Feature

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19 Interviews

DR FATIMA AL-BALOOSHI SAMEERA RAJAB NANCY KHEDOURI DR LULWA AL MUTLAQ DINA KASRAWI HALA ALMOAYYED NADA ALAWI SHUBBAR JAMILA MISSILMANI MONA ALMOAYYED Telecoms

BAHRAIN: THE NEW GIPX HUB Finance

MENA PRIVATE EQUITY ASSOCIATION’S REPORT Business

MIDDLE EAST: AEROSPACE AND DEFENCE INDUSTRY Property

BEST INTERNATIONAL CITIES

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CONTENTS September 2014 AFFAIRS

24 26 32 28 30 34

Why is No-one Talking about the Morocco Model?

The Ruins of Gaza’s Airport

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The Arabian Review

COMMENT...

Publisher & Editor in Chief - Nicholas Cooksey Admin & Finance - Nikesh Pola Business Development - Redia Castillo

US Dollar faces rude awakening

Layout Designs - Dhanraj S

In 1944 Europe was in ruins and the US was simultaneously the largest economy in the world, the primary victor in the war. It was easy to dictate terms for a new financial system.

Photography - Shareef Panhatt - Redia Castillo

Global commerce would be conducted and settled in US Dollars, and these settlements would clear through the US banking system. This created substantial demand from foreign governments who needed dollars for trade and reserves.

Contributors - Melissa Nazareth - Hugh Haskell-Thomas - Nicholas Cortes - Neal Jones - Agnieszka Piechoska

Demand for the dollar became so strong that the US government could get away with printing more dollars than they had gold, which the dollar was backed against. This allowed them to run deficits with minimal accountability.

Distribution Executives - Mohammed Yousif - Muhammed Shareef P - Rafnaj K P

Initially the consequences were insignificant, but by 1971 foreign nations’ dollar reserves far exceeded the US government’s gold holdings, and many began redeeming their dollars for gold. Richard Nixon put a stop to this and unilaterally terminated the US dollar’s convertibility to gold - effectively defaulting on US obligations to the rest of the world. Yet the dollar somehow managed to remain the world’s reserve currency.

Over the past 43 years, the US has continued to print, devalue, and mismanage the dollar, and run up the biggest deficits and debt levels ever seen in the history of the world.

Published by:

Media

In a few months the US will be overtaken by China as the world’s largest economy. So it seems clear that the renminbi will become a critical component of a new financial system. Expect in the next few years to start seeing trade settlements in renminbi, even when none of the parties are in China, marking an historic change for the international financial system.

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Distribution Bahrain: Al Hilal Corporation, Tel. +973 1748 0800 UAE: Jashanmals, Tel. +971 4341 9757

The multi-award winning Arabian magazine

WORK for PLAY see other side

The Arabian Review

Issue 116

Arabia’s most intelligent magazine Established since 2004, Gulf Insider is the multi award winning Arabian business and current affairs magazine that also covers property and expat news, interviews, car reviews, travel features, even a bit of art and fashion.

The monthly print edition of Gulf Insider is distributed to Bahrain’s highest spending consumers and decision makers. There’s also limited distribution in other GCC states via airline lounges, duty free, ARAMCO in the KSA, and other strategic locations.

Gulf Insider now also includes:  Easy to navigate website that offers online access to the magazine and much, much more.

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HERSTORY

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The Arabian Review

Issue 115

Also inside:

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

INDIA & BAHRAIN

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

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Learning to Take Advice In reference to GI’s exclusive interview with Mr Mohammed Dadabhai, I agree with his reservations about the effect some of the MPs’ decisions might have on Bahrain’s economy. The Parliamentarians need to BAHRAIN LEGAL learn to take expert advice before drafting or amending any major laws. Take the recent traffic law with an article banning from driving the majority of expats in the Kingdom. The years-long discussions and delay in passing the – much needed – updated traffic law could have been avoided, should the MPs have listened to those who simply knew better.

Tareq A.

The multi-award winning Arabian magazine

The Arabian Review

Issue 114

The much talked-of new visa policy for Bahrain is frankly too good to be true. I come from one of the countries mentioned in the proposed list and I can hardly hold my excitement. I am probably not the only one, considering the number of various nationalities present in Bahrain. Fingers crossed for all the expats out there!

EXCLUSIVE INTERVIEW

Torsten Müller-Ötvös CEO, ROLLS-ROYCE MOTOR CARS

FEATURE SPECIAL

BAHRAIN LEGAL

A special guide to some of Bahrain’s top legal firms (and what they specialise in) Bahrain BD2

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Issue 113

MIDDLE EAST Travel trends

GCC

Investor’s risk appetite increasing

MBA

Is it worth the time and money?

BAHRAIN’S TELECOM MARKET

Roberta

A ‘Thank You’ from Art Enthusiast I instantly fell in love with your last month’s art section, which presented the captivating paintings of Lebanese-born artist, Zena Assi. I do understand that art is not your main focus, and that is why I would like to congratulate GI for an excellent eye for a true work of art.

Nesreen

Wishful Thinking?

I wish the optimistic conclusion in your story about the travel ban problem in Bahrain – hinting on the soon-to-come real solution – was not far from reality. Way too many people pay way too high a price for their somehow missed financial decisions.

Jerry

India’s Celebrations As a Bahraini national, I would like to extend my warmest wishes to the Indian community in Bahrain on the occasion of India’s 68th Independence Day. It is amazing how many years back our two nations go together.

Sincere congratulations on the 68 years of independence!.

Sami

Status Quo and Emerging Trends

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MAHER SALMAN AL MUSALLLAM Gulf Air’s Acting CEO Bahrain BD2

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News

GULF ROUNDUP NEWS AROUND THE GCC AND BEYOND

BUSINESS & AFFAIRS

Gulf Banks in Lending Bonanza as Foreign Banks Falter Cash-rich Gulf banks are grabbing a growing share of the region’s loan market as they cut fees and ease terms, elbowing aside some of the foreign banks which used to dominate lending.

The shift reflects the weakened state of European and US banks in the wake of the global financial crisis. The Gulf banks, aided by high oil prices and rapid economic growth in the region, have been able to rebuild their balance sheets since the crisis and in many cases cut back provisions for bad loans, leaving them flush with cash.

The shift can be seen in Thomson Reuters league tables for Gulf loan syndications. As recently as 2011, the list of the top 25 arrangers of syndicated loans in the region included 20 foreign banks. In the first half of this year, there were only eight banks from outside the region. – ARABIAN BUSINESS

IKEA to Open its First Store in Bahrain Bahrain Duty Free Net Profit Drops by 12% Bahrain Duty Free reported a profit of $4.4m for Q2, representing a 12.7 percent drop compared to last year.

A statement on the company’s website said the reduction was “due to a reduced income from one investment which in 2013 paid out an exceptionally large dividend”.

Profit before dividend income was $2.9m, an increase of 9.1 percent versus the same quarter last year.

There was also an increase in passenger volume of 14.1 percent (total of 1.6m), which contributed significantly to the $19.5m sales, increasing 12.1 percent compared to last year.

Operating costs were also up by 4.3 percent, which the company says was due to increased marketing activities and additional depreciation charges incurred. – ARABIAN BUSINESS 8

Gulf Insider September 2014

IKEA Saudi Arabia have announced plans to open a 30,000 square metre flagship store in the Bahraini capital of Manama.

Since its establishment in the region, IKEA has opened three stores in Saudi Arabia, in Jeddah, Riyadh and Dhahran and is planning ten more stores in the kingdom in coming years.

The Dhahran store in the Eastern Province, at such close proximity to Bahrain, will serve the Saudi market as well as the Bahraini market until the launch of the store in Manama.

Saud Ghassan Al Sulaiman, CEO of IKEA Saudi Arabia, said the new store is part of the company’s plan to expand its services in the region. – BUSINESS INSIDER

News

Mideast Investors Spend Nearly $8bn in Europe in H1 Middle East investment in Europe rose by 25 percent year-on-year in the first half of 2014 to €5.9 billion ($7.9 billion), while the total cross border investment in Europe rose by nearly a third to top €44 billion, according to a new report.

Middle East capital accounted for approximately 13 percent of cross border capital coming from outside of Europe and was the second largest investment group into Europe following North America (€18 billion).

While Central London continued to dominate, now paying sub-5 percent yields, Colliers’ Capital Flows Quarterly Report also highlighted growing interest in continental Europe.

John D Davis, CEO, Middle East & North Africa at Colliers International, said: “Middle Eastern buyers are increasingly prepared to venture outside Central London, looking at alternative asset classes such as hotels and serviced apartments in other tier 1 cities.”

Recent examples include Qatar Investment Authority’s acquisition of five more properties to its hotel portfolio, located in Cannes, Madrid, Frankfurt, Amsterdam and Rome, while Qatar Armed Forces Investment Portfolio acquired the Hotel Renaissance in Barcelona for approximately €78 million.

Davis added: “We have also seen Middle East investors play a key role in major deals in Central London during H1 2014, for example China Life and Qatar Investment Authority taking a 90 percent interest in Clifford Chance HQ in Canary Wharf.” – ARABIAN BUSINESS

Saudi to Open $530bn Bourse to Foreigners The Saudi government has approved opening its stock market, the largest in the Arab world, to direct foreign investment starting sometime in the first half of 2015.

The Saudi market is capitalized at about $530 billion and is one the most waited for financial reforms in the world’s oil top exporter. The bourse would be one of the world’s last major exchanges to begin welcoming foreign money, according to Reuters.

Following the announcement, the kingdom’s benchmark Tadawul All-Share Index (TASI) surged by more than 3 percent, reaching its highest level in nearly seven years.

A number of powerful companies are listed on Tadawul, including one of the world’s largest petrochemical groups, Saudi Basic Industries Corp.

The International Monetary Fund raised its economic growth forecast for Saudi Arabia from 4.1 to 4.6 percent.

Motlaq al-Bogami, editor-in-chief of the Saudi online business website Maaal.com, described the decision as “necessary for the kingdom to be part of the global economy.”

In addition, the influx of foreign investment into the Saudi market is likely to “instil confidence in the Saudi economy as whole,”Bogami said. – AL ARABIYA

Dubai Prime Office Rents up 25% as Vacancy Rate Plummets Office rents in Dubai are still rising, with average prime Central Business District (CBD) rents up three percent quarter-on-quarter and 25 percent year-on-year, according to the Q2 2014 Dubai Market View by global property advisor CBRE. CBRE said the CBD market continues to face a diminishing availability of good quality office accommodation, specifically offices that are capable of accommodating large corporate space occupiers over contiguous floors.

Occupancy rates within prime CBD offices have been rising steadily over the past 12 months, with less than 16 percent vacancy rate compared to an average of 40 percent vacancy for all Dubai office stock.

Mat Green, head of Research & Consultancy UAE, CBRE Middle East, said: “The average prime rental rate now measures AED1,884 per square metre per annum and this figure is expected to increase further within the short term amidst strong economic growth and rising business confidence.”

He added: “Secondary office locations continue to see an improving performance with average rents rising from AED924 per sq m per annum in Q2 2013 to AED1,148 per sq m per annum in Q2 2014.

This reflects growth of 24 percent in just one year with a 5 percent rental growth recorded during Q2 2014.”

With limited availability of good quality office accommodation in prime areas, CBRE said Dubai can expect to see demand spill-over into some secondary locations, particularly for single owned properties in close proximity to transport links. – ARABIAN BUSINESS

Gulf Insider September 2014

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Insider Business Dubai

CHANGING

HERSTORY

The women who don’t mind leading

A

s Bahrain moves forward, so do Bahraini women. Amidst the Kingdom’s economic, social, and political progress, they would not think twice before entering the previously male-dominated territories. They are talented, ambitious, and know exactly what they want. They represent their country from the highestranking executive offices; they run large concerns singlehandedly; they climb the corporate ladder and start businesses.

Having been exposed to rather traditional views on gender roles, Bahraini women seem incredibly comfortable in a corporate setting or holding public functions. This special feature aims to recognise their impact on the Kingdom’s economy and social evolution.

Gulf Insider’s Agnieszka Piechoska talks to the extraordinary women of Bahrain about self-fulfilment, breaking new grounds, and what their word of advice would be for those who wish to follow in their footsteps.

DR FATIMA AL-BALOOSHI SAMEERA RAJAB NANCY KHEDOURI DR LULWA AL MUTLAQ DINA KASRAWI HALA ALMOAYYED NADA ALAWI SHUBBAR JAMILA MISSILMANI ...and MONA ALMOAYYED 48

Gulf Insider September 2014

Special Feature POLITICS

WOMEN LEADERS IN BAHRAIN

DR FATIMA AL-BALOOSHI Minister of Social Development 12

Gulf Insider September 2014

BUSINESS

SOCIETY

Special Feature

Dr Fatima Al-Balooshi Minister of Social Development since 2005, the second female Cabinet Minister in the history of Bahrain Acting Minister of Health in 2011 Former Dean of the College of Education at University of Bahrain PhD in Education holder from Columbia University, New York Holder of Master of Arts in “Computing in Education” and Master of Education in “Instructional Technology and Media” from Columbia University, New York Recipient of the Excellence of Achievement Award, among several other honours

W

hy did you get involved in politics? Do you remember a particular moment when you decided on this career path?

As far as I remember, my main interest was to work with the public, therefore from the early start I was involved with the NGOs and women’s rights campaigns in particular. My original career as a university professor enabled me to publish many papers that focused on the women’s empowerment.

Becoming a minister was, of course, the result of the decision of HM King Hamad bin Isa Al Khalifa and I am truly grateful for His Majesty’s efforts to give women a stronger role in the Government. I’ve been involved in politics for the past ten years now, which is the longest term as a female minister in Bahrain. For a number of years I was the only female minister but now, I have two colleagues who came along a couple of years ago [Sameera Rajab, Minister of State for Information Affairs, and Shaikha Mai Al Khalifa, Minister of Culture – Ed.], which is a clear sign that our political reform is right on track.

Do you think Bahraini women are ready for this reform?

We’ve seen both men and women’s empowerment in the Kingdom’s political arena, through the Constitution, the National Action Charter, and the Parliament. People get involved, learn

The Kingdom has always been a leader in political reform and Bahraini people are keen on it.

They are ready for it from both intellectual and social point of view.

And, as women are a part of the society, they are a part of this change, too. what it takes to be in politics, and become more aware of their political rights. This is quite new to Bahrain, we’ve been doing this for the past 15 years, and in this short time we’ve achieved a lot.

The Kingdom has always been a leader in

political reform and Bahraini people are keen on it. They are ready for it from both intellectual and social point of view. And, as women are a part of the society, they are a part of this change, too. We have women in the Parliament, the Shura Council, and the Government – holding very important positions, which proves that we are as capable as our male counterparts.

In your opinion, do women take a different approach to politics than men?

No, I don’t think so. However, we need to learn to work together. One individual won’t accomplish much but as a team, we can make a difference.

I’ve been noticing nowadays that many politicians do understand it, and try to create better organisations to have more effective role and to further develop our political system. I think everyone is learning equally and I don’t really see any difference between men and women’s approach.

What advice would you give to a Bahraini woman aspiring to enter the political arena?

I think it’s important for everyone, men and women, to understand that entering politics is never an ad hoc success; you need to learn a lot. As I mentioned before, politics cannot be done through an individual work, therefore I suggest that women join larger organisations, as it would be extremely difficult for them to be on their own. And, they need patience. For women, to have a role in a political change, things will not happen very quickly. My last advice would be that they stay true to their values. In politics, some people can become rather deceitful or even corrupted but to me, integrity is crucial, as eventually the truth will prevail.

What has been the most valuable life lesson you have learned so far?

I’ve learned to never give up in my fight for the worthy cause, and to stop wasting energy on smaller issues. In addition, one cannot be the brains and the muscles at the same time, therefore create a trustworthy team and let them work with you.

Gulf Insider September 2014

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Special Feature POLITICS

BUSINESS

SOCIETY

WOMEN LEADERS IN BAHRAIN

HE Sameera Rajab, performing her oath for her official appointment as the Minister of State for Information Affairs in April 2012, in the presence of HM King Hamad bin Isa Al Khalifa.

SAMEERA RAJAB Minister of State for Information Affairs 14

Gulf Insider September 2014

Special Feature

Sameera Rajab Minister of State for Information Affairs and the Official Government Spokesperson Member of the General Secretariat – Arab National Conference Member of the Islamic National Conference Founding member of the Bahrain Society for Family Planning and Care Founding member of the Center (Tes’aa) for Women Support in Bahrain Former journalist and political columnist for a number of publications including Akhbar Al Khaleej Former member of the Shura Council Former Deputy Chairman of the Shura Council’s Services Committee for the third session of the second legislative term BSc graduate from the Beirut Arab University

W

hy did you get involved in politics? Do you remember a particular moment when you decided on this career path?

Politics, like any other career, requires skills, and any person can build their skills through proper education and knowledge. My involvement in politics was a logical continuation of my successful career as a political columnist which required a significant amount of expertise in the subject.

What do you most love about your chosen career?

The reason I enjoy every aspect of my career is that I am successful at what I do.

As the Minister of State for Information Affairs and Official Government Spokesperson, how do you think you can contribute to promoting women´s participation in politics?

The development of political participation in all societies includes both men and women, and they both need empowerment. My job in the media sector may be a channel that enables me to raise awareness and spread knowledge within the society, which will eventually empower everyone – regardless the gender – to enter the political arena.

What is your view on the acceptance, or otherwise, of women in political positions of power in Bahrain?

Women in Bahrain have reached the top level in political and administrative careers, and have proven their capabilities to the Bahraini society. Of course, as in many societies, there are groups that support the idea of having women in leading positions, and others that are against it. I do believe, however, that this issue has been resolved in our country and Bahraini women are worthily competing with men.

What advice would you give to a Bahraini woman aspiring to enter the political arena?

Continue your active participation in

I believe that knowledge is power, and it is what women need the most to succeed. politics, invest in a thorough knowledge in your field, and work on your leadership and other relevant skills.

What has been the most valuable life lesson you have learned so far?

I’ve learned that women – when compared to men – are more capable of learning, more patient, and less likely to resort to unfair competition.

Is there a quote, saying, or motto that you particularly value?

I believe that knowledge is power, and it is what women need the most to succeed.

Gulf Insider September 2014

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Special Feature POLITICS

BUSINESS

SOCIETY

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WOMEN LEADERS IN BAHRAIN

hat do you most love (and dislike) about your chosen career?

The best part for me is having multiple unique roles, which come with different kinds of professional and personal satisfaction.

But, in the end – whether as a lawyer, a member of the Shura Council, a book author, or a Managing Director of a family business – I’d say the common denominator of what drives me in my career is the human factor. Helping the people of my beloved country and making a positive change for the women and the society in general is my happiness. The hardest part in my career would be the very start of it. Having only been 21 years old at the time my father passed away, it was a great challenge for me as a young lady, the only child to my parents, to embrace the task of having to manage the family business in a male-dominated society. It was not easy, there was much to learn the hard way but today, I am thankful for that experience that has molded me into the person that I have become.

NANCY KHEDOURI Shura Council Member Nancy Khedouri Member of the Shura Council (for the third legislative term) Deputy Chairwoman of the Shura Council’s Foreign Affairs, Defence & National Security Committee Managing Director of J.E. Khedouri & Sons Bestselling author, “From our Beginning to Present Day” Head of Administration of the Bahrain-Japan Business & Friendship Society (BJBFS) Member of the Bahrain Historical & Archaeological Society 16

Gulf Insider September 2014

What has been the most valuable life lesson you have learned so far?

Take each day at a time, always trust in God, and depend on yourself to reap success. Life has its challenges but with the right approach you can determine the positive outcome of your trouble – although it is a skill that is mastered with time.

Who do you most admire, and why?

I have always been enthralled by successful personalities and leading figures, as each of them brings a different merit to the table. This way we are guided by an assortment of qualities that help us in search for our own success.

Is there a quote, saying or motto that you particularly value?

Yes, a famous quote by former British Prime Minister Margaret Thatcher, “If you want something said, ask a man but if you want something done, ask a woman.”

Special Feature BUSINESS

SOCIETY

As the CEO of a large organisation, what are your biggest pet peeves when it comes to your employees?

What bothers me a lot is inefficient performance and not paying attention to details. Also, I do not like an individual to be a just a “number”, rather than a contribution to the company. I view this as a waste of human resources and minds – it makes a huge difference in the overall success of any business.

DR LULWA AL MUTLAQ President and CEO of Golden Trust

W

hy have you chosen human capital development for your career?

Simply, it’s my passion. I love developing young and ambitious people, guiding them through their career, and being a part of their

success. Everyone has that unique personality, attitude, and capacity to learn and grow. With this in mind, I always encourage people to stand out and be different in order to achieve their goals.

Dr Lulwa Al Mutlaq President and CEO of Golden Trust Institute Chair – Training, Human Resource & Education Committee of Bahrain Chambers of Commerce & Industry (BCCI) Deputy Chairman of the Board of Trustees, HRD Fund Board member of Bahrain Businessmen Society Member of Bahrain Businesswomen Society Member of Council of Arab Business Women Former Senior Vice President of Arab Banking Corporation Chartered Fellow CIPD, CPHRC Ph.D. holder in Education and Human Development, from Vanderbilt University, USA Holder of the Honorary Doctorate in Business Administration and Oxford Innovation Award

What has been the most valuable life lesson you have learned so far?

There are a number of lessons that I have learned throughout my career and life experiences. The three most important to me are, “No one is born a leader; we can build our leadership through developing others,” “We need to follow our passion and let go of whatever prevents us from achieving our target,” and, “There is no end to achieving results, it is a non-stop journey.”

We need to follow our passion and let go of whatever prevents us from achieving our target.

Who do you most admire, and why?

I admire my family; my husband for his support and love through all these years; my sons for being a great help in both good and difficult times; my daughter for bringing different and beautiful touches into my life; my mother for her prayers; and my other family members for believing in me. Moreover, my team for making my vision come true.

Is there a quote, saying or motto that you particularly value?

My favourite motto is, “The expert in anything was once a beginner, so take a step today”.

Gulf Insider September 2014

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WOMEN LEADERS IN BAHRAIN

POLITICS

Special Feature POLITICS

BUSINESS

SOCIETY

WOMEN LEADERS IN BAHRAIN

words, “It always seems impossible, until it’s done.” Giving up is never an option, and there are no insurmountable challenges. When faced with a problem, break it down into smaller parts, and tackle it one issue at a time.

What has been the most valuable life lesson you have learned so far?

Reputation is the most important currency. Maintain your integrity, respect others, and do what is right.

What advice would you give to a woman who is at the start of her career?

Be true to yourself and your values; there’s no need to change who you are to succeed. It is essential to give a serious thought to your career and have

DINA KASRAWI Global Head of Communications at PineBridge Investments

W

hat drives you in your professional life?

What gives me the most satisfaction as a professional is that my work adds value and makes a tangible difference. It’s all about people and interpersonal skills, which makes it all the more interesting.

I really enjoy the fast-paced nature of

my career, although it also makes it very consuming. At the end of the day, I’m content to know that I’ve performed at my best.

In your opinion, what is the best strategy for overcoming career obstacles?

I frequently recall Nelson Mandela’s

Dina Kasrawi Global Head of Communications at PineBridge Investments Held senior positions at Bahrain Mumtalakat Holding Company, the Bahrain Economic Development Board, and the World Bank Holder of an M.B.A. in Finance from Columbia Business School, New York, and Master’s degree in Public Communications from American University in Washington, D.C. 18

Gulf Insider September 2014

Giving up is never an option, and there are no insurmountable challenges. When faced with a problem, break it down into smaller parts, and tackle it one issue at a time. a plan. If you put your goals ahead of you, you ensure that you have the tools to succeed. Also, it’s ok to ask questions and to learn; I would recommend that young people get themselves a mentor who can guide and support them through their experience.

Who do you most admire, and why?

I have a high regard for the female Arab artists of today. They are breaking the global gender barriers, and telling stories that challenge the stereotypes.

Be it paintings, films, novels, poetry, or any other form of creative expression – their art is valuable and has been highly recognised at art and film festivals.

Special Feature BUSINESS

SOCIETY

What has been the most valuable life lesson you have learned so far?

Life teaches us through all sorts of experiences; the most useful lesson for me was that the employees are the actual building blocks to the success of any organisation. That’s why I have become a firm believer in developing human capital, which requires an environment that fosters learning new skills and generating new ideas. In what I do, I always focus on that.

Who is your professional source of inspiration, and why?

Without a doubt, I’ve always looked up to my father, Farouk Almoayyed, because he’s the kind of leader who leads by example. He has succeeded by believing in human capital development.

I appreciate people who honour their

HALA ALMOAYYED Executive Director of Almoayyed Contracting Group

D

o you feel professionally fulfilled in the maledominated field of contracting?

I won’t deny that contracting is a very challenging field from a commercial perspective, as it creates constant disappointments and hurdles.

Having said that, I love the fact that

through my hard work I am able to visibly reshape and develop the infrastructure of my country. My success literally materialises in front of me and it is definitely worth any possible effort. On a personal level, it is extremely rewarding to see how a great project touches and changes the lives of thousands of our employees.

Hala Almoayyed Executive Director of Almoayyed Contracting Group Board member of Y.K. Almoayyed & Sons

The most useful lesson for me was that the employees are the actual building blocks to the success of any organisation. word and my father lives by that; I try to live by that too. Although I could have chosen my career in any other sector, he supported and empowered my decision to work in a male-dominated field. This is what helped shape me into who I am today.

Is there a quote, saying or motto that you particularly value?

“Don’t find the fault, find the remedy,” by Henry Ford. When working in a corporate environment, many employees tend to focus on identifying the problems at work, which is counterproductive. I therefore always encourage my employees to be solutiondriven rather than of problem-driven.

Gulf Insider September 2014

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WOMEN LEADERS IN BAHRAIN

POLITICS

Special Feature POLITICS

BUSINESS

SOCIETY

A

WOMEN LEADERS IN BAHRAIN

s a co-founder of two successful business ventures, is there an advice you wish you had gotten as you were beginning your career?

Launching a company is relatively easy, because you have that strong drive to make it. The true challenge comes once your business takes off, as you need to stay creative to maintain your success. I think what I did at the start of my career was sufficient but, of course, I’ve learnt a lot since then. Time and experience gives you an advantage. The best advice is that you just need to go for it. If you hesitate and worry about what other people think – you won’t be able to focus on your goals.

NADA ALAWI SHUBBAR

Co-Founder and Director of Annada Nada Alawi Shubbar

Founder and Director of Annada, the luxury brand that puts art and fashion together Co-Founder and former General Manager of OSHO Centre Board member of the Bahrain Economic Development Board Former board member of the Bahrain Bourse Former President of Rotary Club of Salmaniya Former Vice President of Sales and Marketing of Tri-Max Industries in Huston, Texas Named “Entrepreneur of the Year” by the Bahrain Development Bank Recognised at the Mohammed Bin Rashid Awards for Young Business Leaders as the Best Arab Start-up Business in the female category, among other recognitions 20

Gulf Insider September 2014

In your opinion, what are the main advantages that Bahraini women have when pursuing business careers – both in terms of skills and the opportunities?

I think women in Bahrain are very bold and by no means intimidated by their male counterparts. They have rather nurturing conditions here, with all the support from the Government, especially Princess Sabeeka bint Ibrahim Al Khalifa and Crown Prince Salman bin Hamad Al Khalifa. All they need to do is just to show initiative and think of a scalable business.

Who is your ultimate female role model, and why?

If I had to choose one, I think it would be Oprah Winfrey. She’s such an inspiration, the way she has handled her own career, against the odds. She stayed true to her beliefs and proved that once you do that, you will succeed.

My other role model that I just have to mention here is also my friend – Candace Johnson, a founding President of the world’s first and largest independent Satellite Broadband Network.

Is there a Wquote, saying or motto that you particularly value?

Oprah Winfrey once said that she never looked at her competition and always did what she felt was right, and that’s how she was able to impact the world. I am a true believer of that.

Entrepreneurs just have to work hard in a planned direction.

Special Feature BUSINESS

SOCIETY

You’ve seen Bahrain grow over the past two decades. In terms of women empowerment, how would you compare your experiences then and now?

I must say, not being taken seriously at work was a bit of a challenge at the start of my career. I had a full support from the Management but the clients often hesitated at first, when they were to deal with a female. Eventually, I’d earned their respect through my results.

Today, there has been a major shift in Bahraini society; men have realised that without their wives’ extra income, they might not be able to support the family. Also, I’m really impressed with the Government’s focus on empowering women in the Kingdom.

JAMILA MISSILMANI Director of Sales, Elite Hospitality Group

Y

ou’ve taken Elite Group by storm since joining some 20 years ago. What’s the secret to your success?

Although destiny had played a huge role – I was blessed to become a part of a great organisation – my determination, hard work, and the ability to deal with challenges were also the vital factors in my journey. If you love what you do, want to learn new things,

and are not afraid to take risks, you are on your way to success.

What have you learned along the path?

The most important life lesson for me is that what you give is what you get.

The more you invest in your life – be it professional or personal – the higher your reward.

Jamila Missilmani Director of Sales, Elite Hospitality Group Directly involved in opening various properties for the Elite Group including Elite Suites Hotel (Bahrain’s first non-alcoholic hotel) Law graduate from the Lebanese University Faculty of Law Recipient of several awards and commendations from various organisations including GOYS, Bahrain Royal Equestrian & Endurance Federation, and Bahrain Football Association, as well as HH Sheik Khalid bin Hamad Al Khalifa and Shaikh Nasser bin Hamad Al Khalifa (Bahrain Olympic Committee)

Bahrain has a new generation of well-educated and bold women, the go-getters who are willing to contribute to their families and their country.

Are Bahraini women prepared for this change?

Bahrain has a new generation of well-educated and bold women, the gogetters who are willing to contribute to their families and their country. Female employees are prompt, organised, creative, and great at customer relations – we can benefit any business.

What would you say is the essence of Elite brand?

Elite’s special quality comes from the brave-minded and passionate people behind it. We are ready to face the challenges and the changes. Our aim is not only to sell Elite; we promote Bahrain as a destination where all cultures meet.

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WOMEN LEADERS IN BAHRAIN

POLITICS

Special Feature POLITICS

WOMEN LEADERS IN BAHRAIN

MONA ALMOAYYED Managing Director of Y.K. Almoayyed & Sons

Y

ou’ve seen Bahrain’s social fabric evolve since the conservative 1970s.

What has changed in terms of the women’s social status?

I’ve seen big changes since my graduation in the mid-seventies. During those days, women did not have many career opportunities; they were given simple clerical jobs, as the common notion was that they were incapable of taking managerial posts.

The leading positions would be off-limits and the glass ceiling was nearly impossible to break through, both in the private and the public sectors. In the government sector in 22

Gulf Insider September 2014

BUSINESS

SOCIETY

Special Feature

Mona Almoayyed Managing Director of Y.K. Almoayyed & Sons The first woman to be elected to the Bahrain Chamber of Commerce and Industry (BCCI) Founder of the Business Women’s Committee in the Chamber of Commerce and Industry Former President of the Bahrain Businesswomen’s Society, for three consecutive terms Co-founder and former Chairwoman of Migrant Workers Protection Society, for three consecutive terms Board member of the Bahrain Childcare Home Ranked as the third most influential Arab woman in the MENA region by Forbes Middle East in 2013 particular, many of my female friends would not get promoted as much as their male colleagues. Today – even though women still have to work harder than men to reach to the same level in their careers – there is more gender equality in the workplace. I’m very happy to see how things have improved for women since the seventies.

What are the current issues that need to be addressed to further encourage Bahraini women’s participation in the business world?

First of all, women need a high-quality business education – in bookkeeping, marketing, or any related field. It is very important for women to be able to write a strong business plan and be aware of both the risks and the potential of their business ideas. Taking advice from other experienced businesswomen will help them avoid unnecessary losses.

Secondly, the banks could offer women loans at low interest rate, which would enable them to enter the business world. Thirdly, we need to support these women by buying their products whenever possible.

What does it take for a woman to succeed in the business world?

She definitely needs to work hard and with full dedication. Many times she will face additional challenges as a wife or a mother and that’s when the help from those close to her, her children and especially her husband, comes in

The higher a woman gets in her career, the bigger responsibility she has to promote other competent women, both at the workplace and outside the corporate world. handy. If her husband is not there for her, she’ll find it extremely hard to continue.

Unfortunately, the society still tends to place greater confidence in male professionals rather than their female counterparts. Some Bahrainis still think that women should stay at home and not pursue a career. Women in particular need to support the female talent. It’s very difficult to be on your own against such social barrier. I also recommend transparency and honesty in doing business; women should stick to that if they want to succeed.

As an active advocate for women rights, what policies would you say work best in promoting top female talent?

The higher a woman gets in her career, the bigger responsibility she has to promote other competent women, both at the workplace and outside the corporate world. In my work experience, most female workers are very dedicated to their jobs, honest, punctual, and hardly ever absent. They are usually more loyal and less likely to switch jobs just because they’ve been offered a better position elsewhere. We employ more than 400 women and I do my best to support them. For example, I understand very well what it takes to be a new mother and that is why we have flexible HR policies for them.

Also, as a former President of Bahrain Businesswomen’s Society (BWS), I used to put all my efforts into helping young female entrepreneurs. It’s all about the support and networking.

We are currently witnessing a major shift in the approach to corporate leadership, from hierarchical style to one that focuses on decentralisation, empathy, and communication – the values often referred to as “feminine”.

How would you relate to this new trend?

At Y.K. Almoayyed & Sons, we follow an open door policy with our employees.

They are free to express themselves and their achievements are noticed and rewarded. With our performance management system, we appraise all our employees twice a year and look at ways to facilitate training programs to help them grow and get promoted. The employees with excellent appraisal get raise in their salaries and bonuses. We make sure they don’t find themselves stuck in a small cubicle with no prospects in their career.

In the future, when you look back on your career, what would you have liked to be your greatest accomplishment?

To be frank, I’ll always be deeply proud of the fact that our family business continues to prosper and grow, 18 years after my father passed away. On the social level – since giving back to society is something very close to my heart – I’d say co-founding the Migrant Workers Protection Society (MWPS) tops my list of achievements.

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Telecoms

BAHRAIN

THE NEW GIPX HUB IN THE REGION

T

his month, VIVA Bahrain is participating, for the second consecutive year, in Telecoms World Middle East (TWME). The event, which is on its 10th year anniversary, will bring together leading

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Gulf Insider September 2014

regional operators to discuss the most relevant industry topics under the umbrella of ‘Strategy, Innovation and partnerships for telcos’.

TWME will present an opportunity for VIVA Bahrain to further expand on

its partnership with BT to build a Global IP Exchange (GIPX) interoperability hub in Bahrain. The hub is targeted to be launched in the first quarter of 2015 and VIVA Bahrain will deliver hosting and connectivity whilst providing a new route to market for BT’s Global IP Exchange interoperability services in the region.

What is VIVA-BT GIPX? GIPX VIVA-BT IP Exchange is an interoperability service that enables fixed, mobile, legacy and next-generation networks to interconnect in a way that minimizes the cost and technical burden of protocol conversion. Specially developed to meet the growing need for connectivity between IP operators, traditional communications providers, and converged service providers, it provides essential interworking between the various communications technologies currently used by businesses and consumers around the world.

Telecoms

What are the benefits of VIVA Bahrain and BT partnership?

The partnership will enable BT to extend its Global IP Exchange footprint to a fourth region, following the launches of BT interoperability hubs in Europe, Asia Pacific and the Americas. It unlocks significant pull-through business for future IP Exchange propositions. It

VIVA-BT IP Exchange is an interoperability service that enables fixed, mobile, legacy and next-generation networks to interconnect in a way that minimises the cost and technical burden of protocol conversion. will ensure convenient, simplified and seamless access that allows telecom operators to provide their end customers with fully interoperable services and innovative products.

“Interoperability is key to the success of future communication services and IP Exchange is a core element to bring it to life for our fast growing region. Investing in this technology together with BT underlines our strong commitment to develop our wholesale infrastructure for the benefit of the regional telecom industry. This hub will provide regional operators with service innovation and choice for their IP interoperability requirements further enhancing their competitiveness to service their local markets”, added Ulaiyan Al Wetaid, VIVA Bahrain CEO.

BT already connects more than 400 IP Exchange customers globally with fastpaced growing traffic demand. BT’s and VIVA Bahrain’s efforts will provide endusers in the Middle-East and beyond

with more choice, better service and higher quality communication services.

For more information on VIVA-BT GIPX contact gipx@VIVA.com.bh

The officials during the signing ceremony, (from left) Ulaiyan Al Wetaid, CEO of VIVA Bahrain, Sh Fawaz bin Mohammed Al Khalifa, Minister of State for Communications, and Wael El Kabbany Vice President – BT Global Services Middle East, North Africa & Eastern Mediterranean.

GIPX BENEFITS TO BAHRAIN Position Bahrain centrally on the regional ICT map - Allow Bahrain to

be the first nation to host a true interoperability hub in the region, which will provide Global IP connectivity to all operators in the gulf region and other specific countries.

Foster development of the ICT Sector in Bahrain - Develop a new ICT ecosystem and draw global players to drive new ICT services, in addition to offering the latest technology services to the home market.

Benefit local businesses and customers – Strengthen Bahrain’s position as a business friendly environment with cheaper and faster connectivity – thus improving revenues and reducing costs.

Benefit local operators - Maximize business potential, cost efficiency for all OLOs in the Kingdom, and assist operators in growing their value added services as part of BT’s GIPX innovation roadmap.

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Finance

MENA PRIVATE EQUITY ASSOCIATION Launches 8th Report

KEY HIGHLIGHTS: 



• UAE and Egypt lead the number of investments in 2013 in the MENA region • Consolidation in the private equity industry limits growth in fund raising • 2014 outlook is positive 

T

he MENA Private Equity Association, a non-profit organisation supporting and developing the private equity and venture capital industry in the Middle East and North Africa, last month launched its eighth “MENA Private Equity & Venture Capital” Annual Report compiled in collaboration with KPMG and Zawya Thomson Reuters. It presents a detailed review of the private equity and venture capital arena in light of the uncertainty and continued challenging environment across the region.

Overall, the private equity industry in the MENA region has demonstrated flat performance during 2013. Based on disclosed information, the number and total value has seen a slight decrease compared to 2012. The fundraising environment remained challenging with a decrease in total funds raised during 2013 compared to prior year. This is attributed to the consolidation of the private equity industry and the unrest in the region.

During 2013, Capital markets have shown signs of improvement in the IPO activity, with a number of MENAbased companies listing on the foreign stock exchanges. These included Al Noor

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30%

Information technology accounts for 30% of the total investment volume in 2013 Hospital (Ithmar Capital) and Gulf Marine Services (Gulf Capital) on the London Stock Exchange and Sotipapier (Swicorp) on the Tunis Stock Exchange.

According to Vikas Papriwal, Partner and UAE Country Head for Private Equity and Sovereign Wealth Funds at KPMG, “2013 continued to be a challenging year for the PE and VC industries in the region.

Whilst the industry in general continued to invest cautiously favouring the noncyclical and defensive sectors, such as oil and gas and healthcare, investors are increasingly broadening their focus across a range of sectors including food and beverage and leisure and tourism the two largest sectors of investment by value during 2013.”







Total number of investments decreased to 66 in 2013 from 101 in 2012. Average investment size in 2013 has been stable at USD 15 million with continued focus on venture capital (VC), growth capital and SME investments.

USD 744 million funds raised in 2013 compared to USD 863 million in 2012, a decline of 14%. However, average close per fund increased to USD 74 million in 2013 compared to USD 43 million in 2012, reflecting the consolidation trend among funds where fewer funds are able to raise bigger amounts.

In 2013, total number of private equity investments completed

by MENA PE funds dropped by 35% to 66 with an average investment size level at USD 15 million UAE continues to be a popular destination for fund managers due to the size and dynamic nature of the economy.

Information technology, media, telecoms (TMT), and healthcare sectors have seen an increased volume of investments.

Information technology accounts for 30% of the total investment volume in 2013 with the majority as venture capital. Other sectors such as oil and gas and healthcare account for nearly 26% of the total investments by volume in 2013. Construction, real estate, and financial services have seen a drop with continued challenges for the financial services sector in 2013.

Number of exits completed during 2013 decreased, with number of divestments expected to increase in the short- to medium-term.

Business

MIDDLE EAST CHALLENGES

Aerospace and Defence Industry - Study Sector driven by continued expansion of Middle East carriers through massive fleet orders and acquisitions.

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A

fter a record year, the aerospace and defense (“A&D”) industry is likely on the verge of a new wave of major structural transformation and possible M&A moves, at the same time that commercial aerospace may be reaching its peak and as the “war on costs” intensifies in the defense sector. New players and technologies, that many thought unheard-of just a few years ago, are also entering the industry. That’s according to a new study by AlixPartners, the global business-advisory firm.

2013 proved to be a record profit year for the industry, mainly driven by the boom in commercial aerospace.

Average profitability of the top 100 companies in the industry reached a record level, with continuous growth since 2009. However, what’s on the horizon for the A&D industry is likely not without turbulence, especially given declining defense budgets in Europe and North America, and the potential prospect of a cycle peak for commercial aerospace, considering the record backlog for Airbus and Boeing jets, up 17% from 2012.

The AlixPartners study focuses on three main levers of structural and strategic change facing the industry

Business

today: The battle for the profit pool in commercial aerospace, signs of a new M&A rebound that could be on its way, and disruptive innovations.

The overall A&D industry increased its profitability, driven by the commercial aerospace segment, whereas defense budgets declined for the second consecutive year in Western countries. Profitability among the industry’s top 100 players reached a record level in 2013; but a “cash culture” gap remains between Europe and North America. The dominance of North American players (9.5%) over European ones (5.2%) has never been so marked, driven by a combination of better profitability, working-capital management and asset utilization.

Commercial-aerospace revenues and fleet growth have been sustained by global air-passenger traffic, says the study, steadily rising at 4.8% annually in the last 20 years and expected to grow at about the same rate for the next 20.

The passenger-jet fleet reached 19,200 aircraft at year-end 2013, up 78% in 20 years, and the study forecasts that this will increase by 91% over the next 20 years, with more than 32,000 new deliveries expected. Asia Pacific could be the biggest beneficiary, with that

37%

region accounting for 37% of the global passenger jet fleet by 2033, compared to 27% today.

Yet, with a record backlog for Airbus and Boeing jets at 10,600 (up 17% from 2012), 2013 may turn out to be the peak of the current commercial aircraft industry cycle, suggests the study.

The last few months have proven less than prolific in new orders. The sector might be entering a slower order-intake phase, as backlog at the end of 2013 is more than eight years’ worth of production and airlines are constantly adapting to changing market conditions, reassessing fleet growth plans and scaling down the type of mega-orders seen in recent years.

Commercial airline revenues are up but profitability remains low, diverging between much-improved US carriers and still-struggling legacy carriers. The sector is being driven by the continued expansion of Middle East-based carriers, led by Etihad Airways, Emirates and Qatar Airways, which are increasing their scale and scope through massive fleet orders and acquisitions and commercial agreements. Due to their importance as launch customers and the sheer size of their order books, Gulf carriers are

Asia Pacific region accounts for 37% of the global passenger jet fleet by 2033

exerting significant influence in terms of new aircraft design, product strategy and production.

European legacy carriers and cargo operators continue to face major challenges.

At the opposite end of the spectrum, the defense sector faces a major transformation as it faces declining sales, more-demanding challenges internationally and high cost structures.

Western defense spending continues its steep decline (down 13% from 2010 to 2013); this may translate for

Commercial airline revenues are up but profitability remains low, diverging between much-improved US carriers and stillstruggling legacy carriers. some key players into a 20 to 30% top-line reduction in the next three to five years. Despite this trend, the US market remains the largest in the world with growth opportunities, especially if companies succeed in creating agile business models, more partnerships and lower-cost solutions. The European market keeps declining with no clear sign of an upturn.

Growth markets such as China and Russia are mainly captive markets with most of the business directed toward domestic players. The few accessible international markets for Western players, such as Saudi Arabia, India and Brazil are therefore increasingly competitive.

Key drivers seem to be in place for strong M&A rebound in 2014, driven by commercial aerospace.

Many major companies today are cash-rich, with, at the end of 2013, US$86 billion of cash sitting on the balance sheets of publicly listed companies, an 8% increase compared to 2012.

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Property

BEST INTERNATIONAL CITIES For Real Estate Investment

T

he Candy GPS Report reveals the top tips for global city performance according to Savills World Research. The report – produced by Candy & Candy, Savills World Research and Deutsche Asset & Wealth Management – identifies 12 cities around the globe with the potential to show strong residential property price growth as they become more fully invested in the next few years.

Prices in these rising cities are

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generally much lower than in the world cities, which make them more accessible and attractive to yield seeking real estate investors.

The list ranges from well established cities such as Melbourne, Australia, to centres in developing economies such as Chennai, India, that have a high number of ultra-high-net-worth residents.

“For many ultra-high-net-worthindividuals real estate has become a unique asset class, but investment to

date has focused on prime property in the top tier world cities which have shown record market growth,” said Nick Candy, CEO of Candy & Candy. “Real estate will continue to play an important part in global investment with investors now looking beyond established safe havens and prime world cities.”

Yolande Barnes, Director, Savills World Research, who conducted the analysis said: “As prime real estate in many premier cities has become more

Property

Real estate values will grow as new cities all over the globe rise on fortune’s wheel.

Property rents and values will rise in line with new and growing economic strength.

fully valued, emboldened investors are now spreading their wings and looking for high yielding secondary properties in those cities as well as starting to consider the value of second-tier cities in counties with strengthening economies.

“This more adventurous approach is likely not only to provide higher income returns but also the opportunity for significant capital growth. Real estate values will grow as new cities all over the globe rise on fortune’s wheel. Property rents and values will rise in line with new and growing economic strength.”

Dario Schiraldi, Head of Deutsche Asset & Wealth Management’s Global Client Group, said: “Our UHNW clients are increasingly seeking locations outside the mainstream to broaden their real estate portfolios.”

He adds: “Demand for investment opportunities in both traditional and rising markets is very strong. Real estate fundamentals are improving with the global economic outlook and deal volume is picking up.”

Beyond the purely economic, the report identified certain characteristics that add to the attractiveness of these cities.

Some of those that stand out include English as a first or second language; the presence of new tech industries and financial centres; favourable conditions for international companies; and a large, young and well educated population.

Global Real Estate Investment The report also examines the property purchasing habits of UHNWIs. Three markets – Germany, Japan and the United States – top the list as the global locations with the highest value of direct real estate investment by UNHWIs. Together they account for 39% of all UHNWI global real estate holdings.

It also identifies those locations that have been the biggest recipients of private real estate wealth. Together five cities – Hong Kong, London, Moscow, Singapore and New York – account for 40%, or $2.2 trillion, of all global UHNWI real estate holdings. Hong Kong, with the weight of mainland Chinese investment pushing at its borders, receives the most ($798bn) followed by London, the city we identify as having the broadest global reach ($676bn).

Investment Outlook In addition, Deutsche Asset & Wealth Management identifies some intriguing investment opportunities available to UNHW investors. Similar to real estate, investors will need to look outside the mainstream for returns in 2014. In the report, Deutsche Asset & Wealth Management explores key global trends around the world that look attractive for the year ahead.

The 12 rising cities – from the most expensive residential property to the least

City

Beirut Central District, Lebanon.

2 Bed 2 Bed Prime to Appartment Appartment Secondary Secondary Prime Ratio

Tel Aviv, Israel

$500,000

$1,450,000

2.90

Melbourne, Australia

$320,000

$675,000

2.11

Miami, USA

$275,000

$900,000

3.27

Chicago, USA

$250,000

$700,000

2.80

Dublin, Ireland

$210,000

$560,000

2.67

Panama City, Panama

$200,000

$500,000

2.50

Beirut, Lebanon

$180,000

$500,000

2.78

Istanbul, Turkey

$125,000

$280,000

2.24

Cape Town, South Africa

$110,000

$370,000

3.36

Jakarta, Indonesia

$90,000

$260,000

2.89

Lagos, Nigeria

$70,000

$300,000

4.29

Chennai, India

$40,000

$160,000

4.00

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31

Affairs

Why is no-one talking about

THE MOROCCO MODEL? Why is the popular view in the international media that Bahrain’s only alternative is to take the plunge into the revolutionary unknown, when clearly the countries which have fared best in the region are those which have succeeded in managing a process of reform?

T

he Western media has happily applauded as one Arab state after another has lemming-like jumped over the precipice into the unknown, with vague promises of democratic utopia and unlimited prosperity.

For us in Bahrain, there were clearly many who a year ago aspired for our country to follow. As if a revolutionary wiping of the slate was the only answer to all the challenges our country faced.

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Affairs

It was obvious that Libya, Syria, Yemen and several other states were basket cases, ruled by regimes for whom “reform” equated with suicide and for whom transition of power could only come at the battle of a gun. However, this didn’t mean that exactly the same medicine should be prescribed for every country in the region.

Actually, numerous states have been quietly getting along very nicely, despite at times witnessing demonstrations and civil tensions.

I would like to call this “the Other Arab Spring”.

If we look at some of these countries, many of the ones which have fared better, like Morocco, Oman, the UAE and Qatar are monarchies. In contrast it was the Nasserite or Ba’ithist-leaning regimes which appeared so forwardlooking and full of promise in the 1960s which have fallen one after the other.

Morocco, which also witnessed s i g n i fi c a n t protests early last year, is a particularly good example of managed reform. A new constitution was promulgated last July reducing the powers of King Mohamed and allowing the winning party in November’s elections to choose its own Prime Minister.

Oman was also hit by protests and significant industrial unrest, but protesters were always careful to express their loyalty to their king. The response of the Omani Authorities has been a number of initiatives to improve job prospects and working conditions, culminating in elections this October and reforms to increase the powers of the elected Shura Council. This has been in parallel with increased media freedoms and other pragmatic response to popular grievances.

Other Gulf States like Qatar, the UAE and Saudi Arabia have sought to diffuse potential tensions through packages of

social, economic and political measures; while other regional states like Jordan, Algeria, Sudan and Turkey have also had to be forward-leaning in their ability to be responsive to popular aspirations.

Meanwhile, the revolutionary states of Egypt, Yemen, Libya, Tunisia and perhaps Syria give little cause for confidence.

Different brands of Salafists and Islamists have done unnervingly well in the post-revolutionary political chaos and investors and tourists are still staying well away.

So why is the popular view in the international media that Bahrain’s only alternative is to also take the plunge into the revolutionary unknown, when clearly the countries which have fared best in the region are those which have succeeded in managing a process of reform?

Part of the problem is that many NGOs and newspapers have wholly b o u g h t in to the o p p o s i t i o n’s propaganda; that they are peaceful, that they are democratic and that they have Bahrain’s best interests at heart. For most Bahrainis, we wouldn’t trust opposition leaders like Issa Qasim, Hasam Mushaima and Ali Salman with driving a Tehran taxi cab.

These figures are pro-Iran Islamists, they are extremists and the one thing they are not is democrats.

Our request here is that the world take a less simplistic approach to the Arabian Gulf region and Bahrain in particular.

Revolution is no more likely to bring about peace, stability and democracy in Bahrain in 2012, than it did in France in 1789.

Reform is working very well in Morocco, Oman and elsewhere. This “Other Arab Spring” is bearing very visible fruits.

Morocco, which also witnessed significant protests early last year, is a particularly good example of managed reform.

This article is by Citizens for Bahrain.

For more information visit www.citizensforbahrain.com Gulf Insider September 2014

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Affairs

THE RUINS OF

GAZA’S AIRPORT

When violence re-ignited, Israel bombed the control tower, then the runway, and finally the elegant Moroccan-designed terminal.

Image: UPI/Landov/Barcroft Media

Lying in ruins in the desert after years of neglect and war, this is the airport that never took off.

G

aza’s window to the world, Yasser Arafat International Airport, was built in the southern city of Rafah in 1998 with millions of dollars in foreign grants.

Egypt, Japan, Saudi Arabia, Spain, Germany and other European Union countries all contributed, with Moroccan architects designing the buildings’ mosaic walls.

Gaza’s international airport was meant to be a powerful symbol of the Palestinian state that never was, and opened by then U.S. president Bill Clinton And when it did, Gazans were euphoric, gathering at its gates in the thousands to watch the first Palestinian Airlines flight land. Tens of thousands of passengers used it.

But within three years it was closed.

When violence re-ignited, Israel bombed the control tower, then the runway, and finally the elegant Moroccan-designed terminal. The airport became unusable.

In December 2001, Israeli armored bulldozers into more than a dozen pieces, in response to an attack that killed four Israeli soldiers Then Israeli F16 jets bombed the airport’s

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Gulf Insider September 2014

Bombed-out debris lines the stripped-out runway that cost a reported $60 million to build

Image: APA Image/Polaris

Affairs

Image: UPI/Landov/Barcroft Media

When violence re-ignited, Israel bombed the control tower, then the runway, and finally the elegant Moroccan-designed terminal.

Gaza’s international airport was meant to be a powerful symbol of the Palestinian state that never was, and opened by then U.S. president Bill Clinton

Image: Reuters

Image: APA Image/Polaris

Amid ongoing hostilities between Israel and Hamas, Gaza’s dream of its own international airport is sinking even further away

Image: EPA US President Bill Clinton (right) and his Palestinian counterpart Yasser Arafat, accompanied by their wives, Hillary Clinton (left) and Suhah Arafat, review Palestinian honour guards before the opening of the airport in December 1998

Palestinians stand next to the Flying Hospital, an aircraft carrying dozens of international surgeons at Gaza Airport in Gaza. The aircraft belonged to Operation Smile, an international humanitarian foundation established to improve the lives of children worldwide

radar centre and exterior camera security system.

The airport’s VIP lounge, once topped with a golden dome crafted by Moroccan architects, is a gaping open-air patio.

What is left is a pile of rubble.

For years, Palestinian leadership continued to push for the airport’s reopening, emphasising economic loss from its closure.

But Israeli officials cited security concerns, and argued that the airport only benefitted high-flying diplomats and VIPs, offering no contribution to the larger Palestinian economy.

Gazans who can afford it have to travel through checkpoints and border crossings, sometimes for days, to get to airports in Israel, Jordan and Egypt.

However, last month the stricken airport was one of the negotiation points in the truce talks in Cairo.

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Travel

Bahrain’s BEST Hotels & Serviced Apartments The Arabian Review

Ramee Grand

(5 Star) Located in Seef close to major shopping centers. Outlets include Japanese restaurant on 27th floor.

rameegrandbahrain.com

is available at these premier properties!

Marriott Exec. Aprts. (5 Star)

Conveniently located close for both central Manama and the restaurants and nightlife of Juffair and Adliya.

Al Areen Palace & Spa (5 Star)

Home to the largest spa in Bahrain.

Luxury private villas provide quiet seclusion far from Manama. 6 restaurants. No alcohol served.

alareenpalace.com

marriott.com Serviced Apartments

Ritz-Carlton (5 Star)

Crowne Plaza (5 Star)

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

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

ritzcarlton.com

cp-bahrain.com

Sheraton (5 Star)

Diplomat Radisson Blu (5 Star)

Located in Manama next to Bahrain World Trade Centre.

Includes Mediterranean bistro, Irish pub, large lagoon pool, and a Thaiiced inspired spa. rv Se & el Hot Apartments

sheraton.com

radissonblu.com

Sofitel

(5 Star) Private beach. Located out of town, close to F1 circuit.

Fraser Suites (5 Star facilities)

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

Serviced Apartments

Gulf Hotel (5 Star)

rviced Hotel & Se Apartments

sofitel.com

frasershospitality.com

Adjacent to Gulf Convention Centre and close to Adliya’s many restaurants and nightlife venues, with 9 top class restaurants of its own.

gulfhotelbahrain.com

InterContinental Regency (5 Star)

Recently renovated business hotel in central Manama.

icbahrain.com

Elite Group (3, 4 and 5 Star)

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

Hotel & Se ts Apartmen

elitegroup4u.com

Al Manzil (4 Star)

Business hotel ideally located for easy access to financial and diplomatic areas rviced as well as Adlya/Juffair’s restaurants Hotel & Se and nightlife.

Apartments

almanzilhotelbh.com

Mövenpick (5 Star)

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

moevenpick.com

Domain (5 Star)

Boutique hotel in Diplomatic area.

Several trendy restaurants, lounges, and bars.

thedomainhotels.com Gulf Insider September 2014

25

Travel

W DOHA HOTEL Gulf Insider enjoyed a weekend at the W Doha.

D

oha in mid-summer can be a boring place. The 45 + degree heat is made worse by being fanned by desert winds. And what is there to do?

Well, Gulf Insider went to the W Doha for a weekend, and Doha aside, had a wonderful time. This property of 292 rooms and suites has deservedly gained itself a reputation as one of the city’s coolest hang-outs.

Having already, and more than once, checked out the historical Museum of Islamic Arts on Doha’s corniche, and explored Souq Waqif… and not being interested in shopping at the City Centre Mall, all only minutes away from the hotel, staying in and chillin at the W seemed like the best plan! Why go anywhere else and suffer the heat outside?

There’s a well-equipped gym that’s open 24 hours a day, three bars and lounges, a spa, pool deck, 3 great restaurants… so why go out?

The staff were very friendly, the food delicious to the extent we found ourselves favourably commenting on nearly every dish. One of the restaurants, the Spice Market, is now a popular and established haunt for Doha’s trendy Friday Brunchers – which we missed so can’t personally comment on, but the restaurants where we had dinner each

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Gulf Insider September 2014

had a great atmosphere that managed to be both friendly and sophisticated at the same time.

The hotel boasts the celebrated 3 star Michelin Chef Jean-Georges Vongerichten. Signature dishes served include world-class sushi and sashimi, grilled options of black cod, waygu sirloin with fresh chopped salads… and lots more!

Restaurants where we had dinner each had a great atmosphere that managed to be both friendly and sophisticated at the same time.

We each chose a massage from a ‘massage menu’ at the hotel’s Bliss Spa… and yes, they were Bliss!

And being met at Qatar’s impressive new state of the art airport by W staff and being whisked to the hotel, and at

the end of the weekend returned to the airport by limo, only added to the experience.

Just a short hop from Bahrain, yet a significant change of scene and a lovely break. The W offers several special getaway packages, such as “Find Your Suite Spot”, which includes ten per cent room discount, a special VIP welcome amenity, daily breakfast, high-speed internet access, as well as 3000 Bonus Starpoints as an SPG member, and QAR 200 Dining Voucher.

We travelled by Gulf Air which offers flights between Bahrain and Doha throughout the day.

Special Offer COME ON BOARD. ENJOY HALF-BOARD. Get more from your stay and take advantage of the W Doha’s halfboard offer.  Breakfast buffet  Dinner at an award-winning restaurant  High-speed internet access  From QAR 1,149 per night

Book at whoteldoha.com or call +974 44 535000.

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Travel

GULF AIR’S A330 Retrofit on Track

G

ulf Air, Bahrain’s national carrier, is on track with its ongoing A330 retrofit that has, to date, seen three upgraded aircrafts arrive from Canada at Bahrain International Airport. The retrofitted A330s are newly configured for a total of 214 seats in a two-class configuration of 30 Falcon Gold Class and 184 Economy seats with significant enhancements across both cabins.

The revamped A330 product introduces fully-flat bed seats in the airline’s Falcon

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Gulf Insider September 2014

National carrier’s revamped A330 product introduces fully-flatbed seats in Falcon Gold Class, upgraded seats in Economy Class and a state-of-the-art in-flight entertainment system throughout.

Gold Class, upgraded seats in Economy Class and a state-of-the-art in-flightentertainment system throughout, and was designed specifically for Gulf Air, integrating features based on passenger feedback.

Realised by three key partners: Avianor, Zodiac Aerospace and BE, the aircraft’s new Falcon Gold seats convert into fully-flat beds measuring 1.90 meters in length guaranteeing a comfortable night’s sleep. The Falcon Gold seats offer more personal space between seats

than the airline’s previous A330 business class product, allowing passengers to sit back and relax in a 22-inch wide armchair that converts easily into the passenger’s desired position. The new Economy Class seats offer passengers the very latest in comfort: a greater recline to compliment an 18-inch seat-width and an adjustable head and foot rest that allows greater passenger relaxation.

All seats in Gulf Air’s upgraded A330 aircraft include an integrated AudioVideo on Demand (AVOD) feature, an individual touch screen (15-inch in Falcon Gold class and 9-inch in Economy) in every seat and high quality headphones. A suite of movies, video

and audio titles in several languages are on offer, in addition to games. A USB port is available in every seat to allow passengers to easily charge electronic devices.

Receiving the first retrofitted A330 aircraft earlier this summer, Acting Chief Executive Officer Mr Maher Salman AlMusallam commented: “Passengers travelling on our upgraded A330 aircraft, in both classes, will now have a more relaxing and enjoyable experience.

This overhaul of our wide-body fleet demonstrates our ongoing commitment to offer superior products and services to our passengers and we look forward to receiving their valued feedback.”

Gulf Air’s A330 fleet retrofit is scheduled to be completed by the last quarter of 2014. Gulf Air’s A330 aircraft are used primarily on London and Bangkok routes.

Cars

ALFA ROMEO

Alfa want you to buy this instead of a Golf GTI! Should you?

GIULIETTA QV

By Nick Cooksey

A

lfa Romeo is new to Bahrain and so something of an unknown quantity. I owned a previous version of the Giulietta many years ago. I was 22 years old, spent all my savings on it, and it was the most unreliable car I’ve ever owned.

I grew to hate the brand thanks to my experience of constant break downs and repair bills.

Alfa now say that they have overcome such chronic reliability problems although the company finished second to bottom in the latest JD Power ownership survey and the Giulietta was considered to be the least reliable car in its class.

Well anyway, I got to drive the car on Alfa’s test track in Italy. This current Giulietta has been in production for 3 years and this latest version has been slightly restyled, most notably by new and wider alloy wheels, better seats, and a better multimedia system.

I’m driving the QV which is the sports version (the “GTI”, if you like). It offers a respectable 237 brake horse power and

Zero - 100kph in 6 seconds thanks to its 1.75-liter turbo engine the exact same as used in the impressive new Alfa Romeo 4C, a mini supercar pocket rocket that I reviewed last month in our August issue (read review online at Gulf-Insider.com).

I’m driving the QV which is the sports version (the “GTI”, if you like). It offers a respectable Zero - 100kph in 6 seconds.

side I’d say it’s perhaps the best looking although looks of course are subjective.

It roughly matches its rival on boot capacity (350-litres), and rear suspension is designed so the car can practically be used when it comes to utilizing such boot capacity when carrying heavy loads.

On the minus side, there’s less interior space and despite its good engine the car lacks the handling finesses of the Golf. So, in all honesty, when comparing it, the Giulietta, for me, wins on looks and style but loses on handling, interior space, price, and very possibly reliability.

Decide for yourself - arrange your own test drive by contacting Behbehani Motors on +973 1770 1333 Price Comparison

This is a good looking car with lots of interesting styling details. This car is aimed to go head to head with the Volkswagen Golf GTI. Well on the plus

Golf GTI From BHD12,200 Giulietta QV expected price in Bahrain BHD14,750

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

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Gulf Insider September 2014

Cars

SUBARU BRZ Nick Cooksey has mixed feelings about the new Scubi.

I

’d been really looking forward to testing the BRX as I had heard lots of good things about it, and Subaru is a car maker that I have great respect for, famed as they are for producing superb yet affordable sports cars.

So why did I feel the BRZ, much heralded as something ‘special’, to be underpowered?

A lot of TLC (Tender Loving Care) care has gone into the creation of this car by some of the best motor engineers in the world (BRZ is a joint project between Toyota and Subaru), and it’s a brake with Subaru’s grand tradition of 4 wheel drive turbocharged performance cars.

Why so?

Well, the BRZ is the successful result of a project by said engineers to produce a performance car in the true sense of

The BRZ offers superb handling and economical fuel consumption, which is precisely what the engineers at Toyota and Subaru wanted when they created this car.

the word. At the risk of sounding a bit technical, its rear-wheel drive and flat-4 engine allows the powertrain to be set far back and low in the chassis creating a low center of gravity and an ideal front/rear weight balance. Along with wonderful and communicative steering, the result is a superbly balanced sports car that’s rewarding to drive for those who will appreciate such things.

But - if you’re looking for a car with hair raising acceleration then this car will not be for you. It has a not very fast zero to 100 kph of 7.9 seconds, which is at least a second slower than its V6 rivals (and nearly 2 seconds slower than the Alfa Romeo Giulitta also reviewed in this issue).

But - if you love driving and want a car you can push to its limits, engage,

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

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Gulf Insider September 2014

Cars

when it handles as well as the BRZ. The old muscle-cars excelled only at straight-line acceleration. They didn’t handle well. Their steering was slow, suspension was sloppy, they drank petrol, and their brakes were rubbish.

The BRZ offers superb handling and economical fuel consumption, which is precisely what the engineers at Toyota and Subaru wanted when they created this car. Steering is precise, the ride is firm, it’s comfortable (in the front), and Subaru’s boxer engine makes a great sound. I can see that this is a special car, and so for everyone that loves it, someone will not love it.

Personally, I would choose a Subaru STI hatchback MY 2. My performance car loving friend Kevin Koswatte just last month purchased one and he raves about the symmetrical all-wheel drive system. But, each to their own!

Anyway, I think it’s only a matter of time before Subaru produce a more powerful version of the BRZ. May be a 3 liter V6… maybe a turbo… And when they do… WOW!

To make up your own mind on the BRZ contact Motor City in Bahrain for a test drive on +973 17 73 62 22 and that will be fun taking corners then maybe this could be just what you’re looking for.

Ok, let me talk a bit about the rest of the car and then I will come back to this ‘dilema’…

The BRZ comes with the 2.0-liter naturally aspirated 200 horsepower boxer engine… and it looks good.

The cabin is simple, even a bit bland compared with many other cars in its price range, but that’s deliberate - this is designed as a back-to-basics driver’s car.

Yes, this 2 door sports car has seats in the back, but if you’re an adult you won’t want to sit in them, well not for very long anyway as there’s little leg or head room. And there’s not much space in the

boot either - just 6.9 cubic feet, although those uncomfortable back seats can easily be folded to make for much more comfortable boot space. … and, did I say the car looks good?

Ok, back to my ‘dilemma’ with the BRZ… In many ways this car is based on the spirit of the iconic American ‘MuscleCars’ of the 1960’s, such as the Pontiac GTO and the Ford Mustang, both of which had 0-100 kph times of just under 7 seconds - which at the time was considered amazingly fast. Today, turbocharged, small displacement engines produce much more horsepower, but a 6.9 sec. time for a 2 liter non-turbo normally aspirated coupe is acceptable

PS. Car lovers; if you check out the BRZ I’d love to hear your opinion - email me at Nick@Gulf-Insider.com

Price Comparison Subaru STI hatchback MY 2 From BHD16,000

Subaru BRZ From BHD11,500

Toyota 86 From BHD10,500 (Same car - Toyota Badged) Gulf Insider September 2014

19

Art

ONE CLICK AT A TIME An interview with Bahrain-based photographer, Thanooj Thampy.

W

hat type of photography do you love?

In my free time I love capturing landscapes or still life, in the comfort of home.

I shoot anything from food, interior to corporate portraits or shoot for ad campaigns.

These days most people owning SLR cams believe that they are photographers; what is your take on that?

There are some really good artistic people out there. At the end of the day it’s a hobby that anyone can take up.

Anyone who spends enough time with their cameras producing good work is a photographer, I guess.

What do you think are the requisites to be a good photographer?

Attention to detail and willingness to experiment; it’s important to develop your own style.

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Gulf Insider September 2014

Art

Do you have formal training in photography?

No, I was encouraged by my friends who were professional photographers. I started by assisting them in their shoots which was the best training.

When did you start shooting?

I have been shooting for almost 9 years but professionally, around 5 to 6 years.

Any upcoming exhibitions that you will be participating in?

Not yet but I am looking for a good opportunity to create my own exhibition.

Thanooj Thampy’s work is on sale; to get in touch email thanoojthampy@hotmail.com Visit fb.com/CEBahrain for more details.

Gulf Insider September 2014

17

The Bahrain based lifestyle and luxury magazine with style and editorial flair that is enjoyed by affluent customers - both

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Style

FOR SALE

World’s Most Expensive Penthouse

T

his incredible five-floor penthouse has a giant infinity pool and its own slide.

The top of the new skyscraper in Monaco overlooks the Mediterranean and will set its owner back around $400 million (YES - FOUR HUNDRED MILLIOM DOLLARS).

The penthouse is in Tour Odéon, a 49 storey 560ft tower which will be the Mediterranean coastline’s second tallest building when completed next year.

Tour Odéon, with its 70 super-sized flats, is the first new skyscraper to have been built in Monaco since the 1980s.

Prince Rainier, who was then the country’s ruler, decided to half the construction of tall buildings on the shoreline over worries they were destroying the principality’s character.

PRIVATE JET’S Panoramic Outside Views The jet uses external cameras to capture a 360-degree panoramic view around the plane

Images from outside the plane are beamed onto display panels on the cabin walls and ceiling

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Gulf Insider September 2014

A

global design company has come up with an innovative concept for a windowless private jet that uses external cameras to capture a real-time, 360-degree panoramic view of the space around the plane.

The images are beamed on to display panels on the cabin walls and ceiling, giving passengers the feeling that they’re flying in a transparent fuselage.

When the screens aren’t displaying scenes of blue or starry skies, they can be used for in-flight video conferencing or displaying photos or other images.

They could even be used to display landscapes, be it a sunny beach, a desert or outer space.

The futuristic IXION windowless jet was developed by Technicon Design’s team in France for a National Business Aviation Association (NBAA) show.

Gareth Davies, design director at Technicon Design’s studio near Paris, said the team set out to challenge current thinking and ‘propose something a little different but not just a fantasy’.

He added: ‘The user experience is greatly enhanced by directly engaging the passengers with the environment outside, giving an unhindered panoramic view.’

Style Image of the current Calatrava 5227

PATEK PHILIPPE CALATRAVA

Nick Cooksey, Gulf Insider’s Publisher reviews his all time favorite watches…

REVIEW #1

The “Rolls Royce” of Dress Watches!

W

hen people who love watches discuss premier Swiss watchmaker Patek Philippe, the concepts that will first typically come to mind are quality… tradition… class… and of course expense.

The Calatrava is considered the flagship model of Patek Philippe. Amongst men’s’ dress watches, the Calatrava is not just another dress watch. It is “the” dress watch!

The first version of the Calatrava was launched in 1932 and was inspired by the Bauhaus principle. This is a traditional watch. No gimmicky cutting edge fashion but just a simple and timeless design. A watch that will still be working perfectly and could be proudly worn by your great 12

Gulf Insider September 2014

grandson a hundred years from now.

Something that over generations should retain its style, desirability, and value.

The first version of the Calatrava was launched in 1932 and was inspired by the Bauhaus principle.

The Calatrava has a long history, and its design has been copied many times,

including by high-end competitors. Of the most recent generations of the Calatrava range, the popular 3919 was introduced in 1985. After 21 years, it was replaced in 2006 by the slightly larger 5119 model, the change in size reflecting the growing trend for larger watches.

Now comes the latest Calatrava, the 5227. It’s most noticeable changes over the previous model are the case has increased in size yet again, from 37mm to 39mm – still small considering the current fashion for men’s watch faces to typically be 42 mm – 45 mm, but this is a Patek, and Patek have their own rules!

They have also introduced an invisible caseback on the 5227, meaning the hinge and the notch to open the case cannot be seen. Patek say they spent two years in

Style

its development… (two years?)

Part of the beauty of owning a Patek is in appreciating its intricate in-house movements, which in the case of the 5227 is a caliber 324 S C automatic movement. So what a great idea to be able to simply pop open the back and look at such immaculate watchmaking artwork whenever you feel the desire to do so. And why not further add to the experience with a personally engraved private message on the inner back case as well? It could say “Who’s a lucky boy then?”

Calatrava 5107G in 18 carat white gold from around 2002.

Notice such a simple crown guard adds to the subtle beauty Value approx. $18,000

The Calatrava has a long history, and its design has been copied many times, including by highend competitors.

My only negative comment about the 5227 is that Patek, for some reason I really do not understand, have removed the classy crown guard that added to the beauty of the lines on the previous model. It was a work of subtle art that made the watch even more attractive.

Ok, I appreciate the need for innovation and change, but why replace something beautiful with something less beautiful?

Well that’s just my own personal opinion, but if I were looking to buy a Calatrava I’d opt for a previously owned model with crown guard.

Price for the Patek Philippe 5227 is approx $35,400 in 18k yellow gold, or $37,300 in either 18k white or rose gold – yes, class such as this doesn’t come cheap!

A vintage 1961 Calatrava. Such simplicity and class. When this watch was recently put on a Witschi watch tester to access its accuracy it out-performed every other watch that was tested that day.

Value approx. $21,000

Front cover inmage is a Calatrava 5116 Value appox $25,000 Gulf Insider September 2014

13

Life

STOP PROCRASTINATING

By Heidi Grant Halvorson

How to make yourself act when you just don’t want to.

T

here’s that project you’ve left on the backburner – the one with the deadline that’s growing uncomfortably near.

And wait, weren’t you going to try to go to the gym more often this year?

Can you imagine how much less guilt, stress, and frustration you would feel if you could somehow just make yourself do the things you don’t want to do when you are actually supposed to do them?

Not to mention how much happier and more effective you would be?

The good news (and its very good news) is that you can get better about not putting things off, if you use the right strategy.

Figuring out which strategy to use depends on why you are

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Gulf Insider September 2014

procrastinating in the first place:

Reason 1. You are putting something off because you are afraid you will screw it up.

Solution: Adopt a “prevention focus.”

There are two ways to look at any task. You can do something because you see it as a way to end up better off than you are now – as an achievement or accomplishment. As in, if I complete this project successfully I will impress my boss, or if I work out regularly I will look amazing. Psychologists call this a promotion focus – and research shows that when you have one, you

are motivated by the thought of making gains, and work best when you feel eager and optimistic. Sounds good, doesn’t it? Well, if you are afraid you will screw up on the task in question, this is not the focus for you. Anxiety and doubt undermine promotion motivation, leaving you less likely to take any action at all.

What you need is a way of looking at what you need to do that isn’t undermined by doubt – ideally, one that thrives on it. When you have a prevention focus, instead of thinking about how you can end up better off, you see the task as a way to hang on to what you’ve already got – to avoid loss.

For the prevention-focused, successfully completing a project is a way to keep

Life

your boss from being angry or thinking less of you. Working out regularly is a way to not “let yourself go.” Decades of research, which I describe in my book Focus, shows that prevention motivation is actually enhanced by anxiety about what might go wrong. When you are focused on avoiding loss, it becomes clear that the only way to get out of danger is to take immediate action. The more worried you are, the faster you are out of the gate.

Reason 2. You are putting something off because you don’t “feel” like doing it.

Solution: Ignore your feelings.

They’re getting in your way.

In his excellent book The Antidote: Happiness for People Who Can’t Stand Positive Thinking, Oliver Burkeman points out that much of the time, when we say things like “I just can’t get out of bed early in the morning, “or “I just can’t get myself to exercise,” what we really mean is that we can’t get ourselves to feel like doing these things. After all, no one is tying you to your bed every morning. Intimidating bouncers aren’t blocking the entrance to your gym.

Physically, nothing is stopping you – you just don’t feel like it. But as Burkeman asks, “Who says you need to wait until you ‘feel like’ doing something in order to start doing it?”

Think about that for a minute, because it’s really important. Somewhere along the way, we’ve all bought into the idea – without consciously realizing it – that to be motivated and effective we need to feel like we want to take action. We need to be eager to do so. I really don’t know why we believe this, because it is 100% nonsense. Yes, on some level you need to be committed to what you are doing – you need to want to see the project finished, or get healthier, or get an earlier start to your day. But you don’t need to feel like doing it.

In fact, as Burkeman points out, many of the most prolific artists, writers, and innovators have become so in part because of their reliance on work routines that forced them to put in a certain number of hours a day, no matter how uninspired they might have felt. Burkeman reminds us of renowned artist Chuck Close’s observation that “Inspiration is for amateurs. The rest of us just show up and get to work.”

Reason 3. You are putting something off because it’s hard, boring, or otherwise unpleasant.

Solution: Use if-then planning.

Too often, we try to solve this particular problem with sheer will: Next time, I will make myself start working on this sooner. Of course, if we actually had the willpower to do that, we would never put it off in the first place. Studies show that people routinely overestimate their

capacity for self-control, and rely on it too often to keep them out of hot water.

Do yourself a favor, and embrace the fact that your willpower is limited, and that it may not always be up to the challenge of getting you to do things you find difficult, tedious, or otherwise awful. Instead, use if-then planning to get the job done.

Making an if-then plan is more than just deciding what specific steps you need to take to complete a project – it’s also deciding where and when you will take them.

If it is 2pm, then I will stop what I’m doing and start work on the report Bob asked for.

If my boss doesn’t mention my request for a raise at our meeting, then I will bring it up again before the meeting ends.

By deciding in advance exactly what you’re going to do, and when and where you’re going to do it, there’s no deliberating when the time comes.

It’s when we deliberate that willpower becomes necessary to make the tough choice. But if-then plans dramatically reduce the demands placed on your willpower, by ensuring that you’ve made the right decision way ahead of the critical moment. In fact, if-then planning has been shown in over 200 studies to increase rates of goal attainment and productivity by 200%-300% on average.

I realize that the three strategies I’m offering you – thinking about the consequences of failure, ignoring your feelings, and engaging in detailed planning – don’t sound as fun as advice like “Follow your passion!” or “Stay positive!” But they have the decided advantage of actually being effective – which, as it happens, is exactly what you’ll be if you use them.

Heidi Grant Halvorson, Ph.D. is associate director for the Motivation Science Center at the Columbia University Business School and author of Nine Things Successful People Do Differently and Focus: Use Different Ways of Seeing the World to Power Influence and Success.

Gulf Insider September 2014

11

Life

GREER SANSOM

One of Australia’s top age group triathletes and Team Cathay’s coach for Challenge Bahrain

H

aving qualified twice to compete at the Hawaiian Ironman World Championships in Kona, what would you tell someone who says: “I could never do that”?

I used to think that myself. Then, someone told me that they didn’t think I could do an Ironman either, so I decided to prove them wrong! Self-belief and persistence will get you over the line. In Ironman distance triathlons, your mind is your most powerful asset – if the mind doesn’t mind, the body doesn’t matter.

In your opinion, are there certain personality types that are drawn to such strenuous sports competitions as the Ironman Triathlon? If so, what are these personality traits?

I’ve seen all types of characters come and go from the sport. The one thing they had in common is that, at that time of their lives, their passion for Ironman was all-consuming. Some would call it obsessive-compulsive. Those who find a healthy balance between family, work, and training seem to stay in the sport the longest.

You’ve been undefeated in any cycling or triathlon event since arriving in Bahrain last year. What are the key elements of your training?

Consistency is the key; keep in mind that for every month missed,

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Gulf Insider September 2014

it takes two months to gain back what you’ve lost. When targeting a big race, my programme of 12 to 20 hours per week includes a long ride and run at easy aerobic pace, high intensity intervals, and active recovery sessions. The most common mistake I see in age group triathletes is that the pace of their long rides is not easy enough and their high intensity work is not hard enough. Keep racing separate from training and keep your eye on your own square meter.

As a qualified Triathlon Australia Coach, you are currently preparing your team for the upcoming Challenge Bahrain – a triathlon you describe as “top priority for the year”. Why is this race so important?

Challenge Bahrain will be the first international half Ironman distance race on the island. Due to the recordbreaking prize pool, the race will attract the very best professional triathletes and the world will be watching. When you have the fastest men and women in the world going head-to-head on one of the fastest courses, expect the records to be broken. We are racing through the sponsorship of Cathay Pacific. I want to help Team Cathay to be fully prepared once they get to the start line.

Was it difficult to find someone to sponsor you and your team for this event?

When we approached Cathay Pacific, they didn’t even hesitate. I was glad to discover they had a growing presence in the Gulf. Racing under Cathay’s wing will help our team fly.

For more information on Challenge Bahrain, visit www.challenge-bahrain.com.bh

Life

MIDDLE EAST INTERNET PRIVACY Study Reveals Conflicting Views

T

he EMC Privacy Index, a study assessing consumer attitudes of online privacy, is based on responses from 1,000 consumers in the UAE, Saudi Arabia and Qatar. The long-standing debate over how much visibility governments and businesses should have regarding people’s private activities, communications and behaviors has continued into the online world. The index explores how consumers in the region view their online privacy rights.

KEY FINDINGS “We Want it All” Paradox Consumers say they want all conveniences and benefits of digital technology, yet say they are unwilling to trade privacy to get them: • 87% of respondents value the benefit of “easier access to information and knowledge” that digital technology affords, yet only 32% say they are willing to trade some privacy to receive benefits offered by the Internet • 86% of respondents value “the use of digital technology for protection from terrorist and/or criminal activity; however, only 62% say they are willing to trade some of their privacy for this protection

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56%

of respondents feel they have less privacy now “Take no Action” Paradox Although privacy risks directly impact many consumers, most say they take virtually no special action to protect their privacy – instead placing the onus on those handling their information such as government and businesses

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67% of respondents reported that they have experienced a data breach (email account hacked; mobile device lost or stolen; social media account hacked; and more.) Yet, many are not taking measures to protect themselves: • 55% don’t change passwords regularly • 42% don’t customize privacy settings on social networks • 32% don’t use password-protection on mobile devices

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Respondents listed financial fraud and identity theft (58%) ; hacker and anarchist groups (51%) and businesses using, selling or trading personal data for financial gain (40%) among the top risks to the future of privacy.

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On the other hand, a very small percentage of respondents (14%) reported “a lack of personal oversight and attention from regular people like me” among their top concerns for future privacy.

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“Social Sharing” Paradox Users of social media sites claim they value privacy, yet they say they freely share large quantities of personal data – despite expressing a lack of confidence and trust in those institutions to protect that information: • 81% of respondents in the Middle East reported to using social media to connect with people and organizations, while 63% said they share stories, videos and photos via social media • Yet, the vast majority of consumers (79%) claim they don’t like anyone knowing anything about them or their habits unless they make a decision themselves to share that information • Respondents expecting that their privacy on social media will be most difficult to maintain in the next five years • Consumers lack confidence in the skills and ethics of institutions to protect the privacy of personal data on social media sites;

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Just 61% claim to have confidence in the skills of these providers to protect personal data, and just 55% claim to have confidence in those organizations’ ethics

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A Stark Privacy Outlook Compared to a year ago, 56% of respondents feel they have less privacy now

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70% of respondents in the Middle East expect privacy will decrease in the next five years

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These findings suggest consumers are likely to engage in more online activities with institutions that demonstrate greater privacy protection. This presents real opportunities that business and governments should not ignore.

Gulf Insider September 2014

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Life

“OUT OF OFFICE” M

Majority will work remotely by 2020. ore than half of us will be working remotely by 2020, said executives, entrepreneurs and business academics at London Business School’s Global Leadership Summit last month.

As they debated the impact of technology on everything from the creation of the ‘new teenager’ to the office pecking order, an audience of 600 at the Summit organised in collaboration with Deloitte was asked a series of key questions.

When asked what percentage of their company’s full-time workforce would be working remotely by 2020, 34% said more than half and 25% said more than three-quarters would not work in a traditional office.

“Technology and some fundamental shifts in management thinking are behind this response,” suggested Adam Kingl, London Business School’s Director of Learning Solutions, Executive Education.

Innovation is held to be a critical factor for success in business and the Summit included thought on how

technology promotes fresh ideas and new approaches. The poll asked what the biggest threat to innovation in the corporate world is, with a surprising result. Nearly half (49%) said career structures that failed to encourage innovators were the biggest block – compared to 9% who blamed lack of imagination. The second biggest threat was regulatory burden and bureaucracy (33%).

Perhaps the most telling finding, given the subject of the Summit was the importance of technology and data to business today, was the response to a question about personal information.

‘A Dutch student recently auctioned all his personal data for £288. At what price would you be willing to sell your personal data?’ was the question. The vast majority – 79% – said no price was enough. Just 3% indicated that they would sell it for less than £100 – they may place no value on personal data or they may believe that the benefits of giving it up do vastly outweigh any downside.

Some of the poll findings: 1. Which of the following should be the highest priority for business leaders today? a. Maximising financial return to shareholders – 17% b. Creating a satisfying place of work for employees - 9% c. Creating a responsible culture – 12% d. Demonstrating integrity and moral leadership for society – 16% e. Promoting long-term economic stability – 34% f. Harnessing new technology and embracing innovation – 12% 2. What is your view on a sustained global economic recovery? a. It is already here! – 30% b. Next year – 9% c. 2-5 years’ time – 37% d. 5-10 years’ time – 11% e. Never again – 14% 3. Which of the following is the biggest threat to innovation in the corporate world? a. Regulatory burden and bureaucracy – 33% b. Lack of cross-border patent protection – 1% c. Lack of capital and other resources – 4% d. Lack of people with the necessary skills – 4% e. Career structures that fail to encourage innovators – 49% f. Lack of imagination – 9% 4. What percentage of your full-time employees will work remotely by 2020? a. Less than a quarter – 22% b. More than a quarter – 19% c. More than half – 34% d. More than three quarters – 25% 5. Which type of team is likely to be the most effective? a. A co-located team – 67% b. A distributed team – 33%

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Gulf Insider September 2014

News

GULF ROUNDUP NEWS AROUND THE GCC AND BEYOND

LIFESTYLE

Nod for Saudi Women to Contest, Vote in Municipal Council Polls The Saudi Council of Ministers has approved the Law of Municipal Councils that grants women equal rights with men to vote and contest municipal elections.

The councils will have not more than 30 members, including two-third of elected members and one-third nominated by the minister.

The new law also grants the nongovernmental nonprofit independent national institutions and associations the right to monitor the elections in their capacity as independent bodies to guarantee transparency and AL fairness.

– ARABIYA

First Woman Wins Math’s Nobel Prize Workers with US or British Accents Have Edge in UAE – Poll Almost 70 percent of people questioned in a survey in the UAE believe those with a western accent – mainly British or American – have an advantage in the workplace.

Of the 1,882 people who responded to a poll conducted by Gulf News, 69 percent said those with accents from the US or the UK were perceived as more educated and are valued more.

The survey also found that 30 percent of those surveyed said they adjusted their accent and how they speak English in order to sound more westernised.

“In every society there is a hierarchy of ethnicity and, along with that, there is a hierarchy of treatment. So, accents are very much a representation of social status,” Dr Rima Sabban, Assistant Professor of Sociology at Zayed University was quoted as saying.

Clinical Psychologist and Managing Director of The Light House Arabia Dr Saliha Afridi said those who change on fake their accents to be more westernised often suffered from “an inherited colonial inferiority complex.” – ARABIAN BUSINESS 4

Gulf Insider September 2014

Iranian-born Maryam Mirzakhani became the first woman ever to win the prestigious Fields Medal, considered to be the equivalent of mathematics’ Nobel Prize. The Fields Medal is given every four years, you can only be awarded it once, and all past 52 medallists have been men.

Mirzakhani completed high school and her undergrad in Tehran before going on to get her PhD from Harvard University, after which she become a research fellow and professor at Princeton University, before fulfilling her current post at Stanford.

– FORBES

News

Dubai One of World’s Most Influential Cities: Forbes According to business magazine Forbes, Dubai, which has more global air connections than any other city in the world and attracts a huge amount of foreign direct investment (FDI) every year, came seventh on the list of the world’s most influential cities – and is fast rising.

Dubai outranked other major metropolitan areas like Beijing, Los Angeles, Sydney, San Francisco Bay Area, and Toronto. London emerged as the most influential, followed by New York, Paris, and Singapore.

To come up with the ranking, Forbes rated 58 cities based on the amount of foreign investment, ease of travel to other global cities, financial services, media power and racial diversity, among others.

- GULF NEWS

Over 10 Divorce Cases a Day in UAE; Infidelity the Main Culprit Emirates 24|7 gathered figures form all the courts in the country, and found that the rate of divorce cases last year has increased from previous years, and averaged more than 10 cases daily.

Dr Abdulaziz Al Hamadi, Head of Family Marital Section at Dubai Courts, said that divorce rate in the country has increased recently, and this is normal due to the high population growth rate and increase in marriages.

He pointed out infidelity is one of the major causes of divorces in the emirate, and this happens mainly due to the lack of fear of God between the husband and wife.

Dr Al Hamadi advised women who find out that their husbands were having affairs that the best solution to the problem would be to try to fix the problem and not to rush for divorce.

On the other hand, lawyer Aisha Al Tunaiji, founding partner of Al Matrooshi and Al Tunaiji Law Firm in Dubai, told Emirates 24|7 that divorce cases in the country have increased noticeably in the past few years, and majority of married people decide to file for divorce due to infidelity.

“We don’t wish they get divorce, especially if they have children.

However, in some cases they refuse to consider all other solutions and insist on separation.”

She pointed out that women can forgive their husbands for many things, but they cannot forgive them if they cheat on them and have affairs. – EMIRATES 24l7

Saudi VIPs Clock up $720m in Unpaid Electricity Bills Nearly $720 million is owed by Saudi VIPs in unpaid electricity bills, with some arrears dating back nearly 30 years, it was reported.

The Arabic news website Sabq. org cited a report by the Saudi Electricity and Cogeneration Regulatory Authority which claimed that SAR2.7 billion ($719.8 million) was unpaid by Saudi VIPs, with some dating back to before the company was even established. The report said the electricity company said in a statement the arrears would not be allowed to continue and, in future, the law will be applied to all account holders, regardless of their status.

The figure comes to light as Arab News reported that while Saudis pay the cheapest electricity bills in the world, the electricity authority is to review tariffs and bills were likely to increase.

The report claimed the Saudi government pays around SAR150 billion per year to subsidise fuel for electricity power generation and the authority was in the process of developing a new tariff system to determine how much customers will pay for electricity in the future.

– ARABIAN BUSINESS

Gulf Insider September 2014

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Gulf Financial Insider

September 2014

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“OUT OF OFFICE” Life

MIDDLE EAST: INTERNET PRIVACY STUDY Life

PROFILE: GREER SANSOM Life

STOP PROCRASTINATING Art

THANOOJ THAMPY Car Review

SUBARU BRZ Car Review

ALFA ROMEO GIULIETTA QV Travel

GULF AIR’S A330 RETROFIT Travel

W DOHA HOTEL

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PATEK PHILIPPE CALATRAVA Review #1

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