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Gulf Financial Insider
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Rolls-Royce Dawn Desert Drive Hotel Review
The domain hotel & Spa Business
Red Tape Cost Me BD 20,000 Property
Real Estate Boom in Bahrain? Hotel Review
Ramada Manama City Centre Now Open! Car Insider
Porsche 911 Carrera and 718 Boxster Car Insider
Rolls-Royce Dawn Desert Drive
10 12
Telecom Insider
ICT Breakthroughs by VIVA Finance
Citigold Banking
Style
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Shoe Tales
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Why I Didn’t Sell My Watch
30
Nadia Bouslama
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Publisher & Editor in Chief - Nicholas C. Cooksey Editorial - Abeer Saeed Parkar
Dear Readers, Welcome to our latest issue, which if you look hard you will find slightly evolved over previous issues. Anyway, it’s not for us to tell you of the changes but for you to notice them. Inside our May issue we focus on (amongst other things):
Regular Contributors - Hugh Haskell-Thomas - Nicholas Cortes - Bill Daly Guest Contributors - Tariq A. Al Maeena - Rich Hutchinson - Loe Babauta Layout Designs - Dhanraj S
The cost of Red Tape to businesses in Bahrain n Expats getting priced out of UAE n Is there a real estate boom in Bahrain (or not)? n The world’s richest Arabs 2016 n Is Dubai’s 7 Star Burj Al Arab really that special? n Bahrain hotel review – The Domain Hotel & Spa n Bahrain hotel review – Ramada City Centre n Latest new car launches in Bahrain n New Porsche 911 and 718 review n New Rolls Royce Dawn review n Latest telecoms news for Bahrain n Beautiful new watches and shoes for men n Major business launches and events … and much more, so enjoy n
Admin & Finance - Nikesh Pola Photography - Shareef Panhatt Distribution Executives - Mohammed Yousif - Muhammed Shareef - Rafnaj K P
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Arabia’s 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.
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Just wondering who would want to live there permanently?! Even the Saudis escape en masse to Bahrain every weekend! Good idea. The longer you choose to stay in a particular country, the more you are invested there and the more you give up elsewhere. Several years being in limbo on short visa permits is mentally draining. Good move, but I hope Bahrain also adopts the same. Different coloured cards won’t make a difference to Saudi, happiness is an exit visa only.
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GI met Ali Abbas Abusaeya, Operations Manager Corneliani, at their store in MODA Mall Bahrain. We asked him what makes for the perfect gentleman’s suit. Very informative, thanks! The warmer weather means many of us have to upgrade our wardrobes.
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Hotel Review
Celebrate Wellness at
the Domain Hotel & Spa
Coming from a family of holistic healers, Emma Hatfield, newly appointed Spa Manager at The Domain Hotel & Spa shares the personal touches and fresh concepts she plans on introducing at the VIE Lifestyle Lab.
H
ighly professional and humble in her approach, Emma tells us that she’s always had a passion for image consulting, styling and nutrition. Working in the health and wellness industry is naturally close to her heart and allows her to ensure that guests leave feeling energized after their treatments. Emma recently joined the team at the VIE Lifestyle Lab, an urban wellness spa that focuses on relaxation, rejuvenation and revitalization; offering comprehensive personal consultations with trained therapists using a series of methodologies that analyze both body and mind to improve or restore guests to the best possible health and well-being. “Working in this environment is very
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Gulf Insider May 2016
Spa treatments offer a total body, mind and soul experience to fully restore you back to the best you! relaxing even for my team and me, it adds to our experience in helping people enjoy their stay with us,” shares Emma. Catering to in-house guests as well as members from around the city, the
11th floor of the VIE lifestyle Lab offers a ‘ladies only’ area with a spa, gym, steam room, Himalayan Salt Stone Sauna, and treatment rooms, while the 15th floor caters towards a mixed area for ladies and men with a spa, gym, Steam, Himalayan Salt Stone Sauna, treatment rooms. The treatments available at the Domain Hotel & Spa are targeted at individuals who lead busy lives and are looking for a lifestyle change and rejuvenation. “I urge those who have never been to spa to experience such a positive area which fully relaxes and rejuvenates; spa treatments offer a total body, mind and soul experience to fully restore you back to the best you!”. In addition to personal trainers who can create wellness programs to suit each person’s need, the VIE Lifestyle Lab is the only spa in Bahrain that offers the Iyashi Dome – a technology that burns around 600 calories in 30 minutes using heat and infrared energies. Hanakasumi is another body treatment highly preferred amongst returning guests at the spa. Inspired by traditional Japanese methods, the treatment offers full body and mind relaxation through exfoliation, massage and pressure point stimulation. Many clients also return for European face therapies available at the spa which are conducted using only Sothys products, which are exclusively retailed at the hotel and available for purchase. The 36th floor indoor pool is another facility for the guests to enjoy, offering delightful views of Bahrain between 7am and 10pm daily. Emma is currently working with Master Chef Rukmal on bringing exciting food and beverage options to the Vitality Café, wherein guests can extend their health and wellness experience by grabbing a bite to eat after their treatments and workout sessions or pack meals to go. Guests and members can continue their health routine by winding down for fresh smoothies, soups, sandwiches or juices before they head out back to completing their day to day activities. : For information about VIE Lifestyle Lab, visit: www.domainhotels.com or call: +973 1600 0000.
Business
Red Tape
Cost Me BD 20,000 Opening a business is not easy business, there are various procedures and applications involved… but could the waiting period be pushing potential investors away?
G
ulf Insider spoke to a South Asian resident who recently launched a restaurant, although he is over the moon about his new business, the effects of constantly running back and forth in the last one year just to get a Commercial Registration (CR) left him financially exhausted. “I was very positive and thought it’s great that the Ministry of Industry and Commerce has an online portal, alongside other ministries. But despite most of the procedures being put online, I found myself waiting a long time to hear any news about my applications,” he shares. The individual pointed out that it’s not just one ministry’s fault and not the others, he generally had trouble coordinating with the various ministries
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Gulf Insider May 2016
in submitting his forms online and then waiting for approvals or decisions. Opening a restaurant meant that he has to deal with the Ministry of Health, Civil Defence and many others. If he ever approached them in person, he would be told “your application is online – so just wait.” Akin to waiting in line at the ministry itself, he found himself waiting in cyber-space. “Setting up the franchise, organizing and getting all my papers together took me about two months. I also had to finalize my location and began paying rent for it every month. But then I had to wait 10 months to get a CR. During that time, I was paying rent and salaries for a business that’s not yet running; four of my employees ending up leaving. I lost close to BD20, 000 in rent and salaries
even before I started selling.” He believed his restaurant would be up and running in three to six months, but unfortunately he had his calculations wrong. Quoting a similar case, he tells Gulf Insider of his friend who decided to open an ice-cream shop in one of Bahrain’s high-end commercial and leisure locations. “My friend wanted to start his business in the summer, but by the time he got his CR it was already December and it wasn’t the right season to be selling ice-cream. He missed a huge opportunity.” When asked whether he’d like to open another food business down the road, he says yes. “The food industry will never stop – people eat food to survive and restaurants are always going to be an integral component in any economy.
Business
Waste management programs worth close to BD300m have been in the pipeline for over four years and are being stalled due to a lack of coordination between Bahraini government agencies. Yes the overhead costs are high, but I’m willing to do it again. I’ve learnt from my experience the first time and now I know who to contact and where to go. Maybe the reason my CR got delayed is because the MOIC had just launched its online portal at that time and it could have been dealing with a lot of applications at once.” He says he would go through Tamkeen the next time he does business; unfortunately he was under the impression the organization is only open to Bahrainis. “I learnt about this after I opened my restaurant. I could have saved a lot of money if I went through Tamkeen, they have schemes that support with paying 50% of machinery and equipment costs and various other options,” he continues.
According to Tamkeen, outdated sites or inactive portals or dated information has led to a lack of facilitation in the Bahraini business environment. “In a time of thriving e-business, it is important to enhance services to meet customer demands and facilitate the process. Tamkeen has accordingly updated its website with an interactive online portal designed to ease the customer experience and bring services closer to Tamkeen’s customers,” a representative commented. “Programmes such as the Enterprise Support programme, Professional Certifications and Training programmes allow individuals to maximize their benefit in the most efficient manner. Recent efficiencies include quicker payment transfer times from 40 days
to two weeks, use of IBAN to facilitate payment transfers, abolishment of the 4% training levy, community engagement and outreach initiatives as well as added customer support centers around the kingdom.” At its core Tamkeen aims to provide Bahrainis with skills and training to achieve their potential and become the employees of choice for the private sector. But the organization has two primary objectives which are 1) Fostering the creation and development of enterprises, and 2) Providing support to enhance the productivity and growth of enterprises and individuals. “We’re here to help the private sector or anyone who works in the private sector,” Tamkeen tells us. On the same subject, Malaysian Ambassador Ahmed Shahizan Abd Samad claimed that a huge amount of foreign investment in Bahrain is being delayed due to red tape, recent local reports state. He explained that waste management programs worth close to BD300m have been in the pipeline for over four years and are being stalled due to a lack of coordination between Bahraini government agencies. The ambassador reportedly states that by blocking or delaying Foreign Direct Investments, investors will be intimidated. He criticized that it takes almost a year to obtain a CR in Bahrain, claiming there are many entities that investors have to approach for official registration. “What we need is an entity that unifies these bodies and oversees investments, like a planning ministry, which will help investors and Bahrainis alike,” Mr. Samad remarked.
Finance Scheme & Enterprise Support Portal Tamkeen works towards supporting the private sector through initiatives such as the Finance Scheme which bridges the financing gap in the private sector and through Enterprise Support which provides grants and consultancy through Tamkeen’s Advisory Services.
For more information visit www.tamkeen.bh
Gulf Insider May 2016
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Life
UAE expats
priced out of their lives Expats in Bahrain are going to be particularly hard-hit by big price increases in electricity and water (as well as other staples) that will not apply to Bahraini nationals. What will be the consequences of such policies? Here’s a sobering story by Nima Abu Wardeh about the plight many expats are now facing in the UAE.
I
‘ve recently come across a growing number of people who are packing up and leaving the UAE, others who are seriously contemplating it, and many who are being vocal about their pain, but are staying put – for now. Add to this snippets of conversation overheard about this when I’m out and about.
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Life
The problem is the cost of living. Expats who come on bumper packages and have the increasingly pricey outgoings of rent and education covered – wholly or partially – won’t be affected by this. It’s long-term residents and entrepreneurs who are being hurt the most, especially those with children of school-going age. And these two groups of people are exactly what any city needs; they choose to live here and want to stay, but cannot afford to. In the past fortnight alone I have discovered that a handful of neighbours will be leaving the country – one family in particular embodies what’s happening: they’ve been in Dubai for
goodbye to special friends, the only life their children know and their hopes for their futures here, it’s also that this time it’s different: going means never coming back, and that’s affecting them. A lot. They can’t come back because they would never be able to afford entry level prices to live in the UAE once again. Finding a home, for example, would be a major barrier once they give up their current lease. Their place is going for Dh280,000 these days, but they pay Dh150,000 – and they only moved in a year- and-a-half ago. Their basic outgoings add up to Dh600,000 a year. That’s school fees for three, rent, utilities and other basic, redtape and living costs. They could do a
place where you cannot save, and where you have no benevolent government that will pay your way when you go back home. So the cash-flow crunch dictates that people either live irresponsibly – not providing for the future – or make very emotional decisions and go elsewhere. But some – I call them “expat prisoners” – can’t leave. These are people who have superb track records in their fields and cannot get jobs back home because of their age. The big question is: if everything they earn goes out to pay for their lives and if there’s no hope of them saving, or of creating additional streams of income, is it worth staying? Some are trying to figure out how
lot with that money back home – where schooling is free. I’m told that when confronted with a dilemma and not being able to work out what’s best for them, this couple tosses a coin and goes with fate. I don’t believe they’ll be doing that this time round. It just doesn’t make sense to stay. A view echoed by friends who got together earlier in the month to celebrate someone’s 40 years in the UAE. Many of these long-term expat residents are upping sticks too. Most don’t have children at school, but they also find that the UAE isn’t what it used to be. Of course there will always be people who bemoan a past lost for ever. Cities change – but this isn’t just about a fastpaced metropolis evolving, it’s also very much about how difficult it is to live in a
to do both: stay and stem the money haemorrhage. I met someone last weekend who is contemplating moving to Ras Al Khaimah or somewhere in between there and Dubai, purely to get out of the rent hell that is her Dubai at the moment. Not only has her rent been put up by 20 per cent (take it or leave it), but she has just been told that no money will be put into the property as it seems it’s been earmarked for demolition. Scores of people want to stay and contribute to the place they call home. When people like this can’t afford to to make ends meet, we lose more than just another expat.
Finding a home, for example, would be a major barrier once they give up their current lease. Their place is going for Dh280,000 these days, but they pay Dh150,000. a couple of decades – with one shortterm hiatus in the late 1990s owing to family circumstances – and they’re torn. Both the husband and wife have built up businesses in the UAE, their three children are very settled and love their lives, and they genuinely believe that Dubai has a lot more to offer than what’s available back home. But the double whammy of rising fees along with not being paid on time by clients has hit them hard. This is a family that saves but can’t any more – and they’ve been dipping into savings over many months to survive. Their life lurches from one term’s school fees to the next. And it just doesn’t work for them. But they’re struggling with the decision to leave. It’s not just that they’re saying
Nima Abu Wardeh is the founder of the personal finance website cashy.me. You can reach her at nima@cashy.me
Gulf Insider May 2016
15
Property
Real Estate Boom in Bahrain? As the economy adjusts to low oil prices and other issues, Cluttons reports there has been an impact on the real estate sector in Bahrain. So why is there such noticeably high activity in the construction industry? 16
Gulf Insider May 2016
Property
remained a complex issue at the time of this report, with little clarity on whether the increased cost should be borne by tenants or landlords. As for the office market, rents have remained mainly static, with a vast majority of occupiers relocating due to cost-saving. Isa Saad, General Manager at Al Sharfa Holdings affirms this news, stating that a few of his customers have moved to smaller spaces due to downsizing or cost-cutting measures. “Companies can’t just sell assets and leave the country if issues arise,” he says, referring to the low oil environment, “Even when the market cools down a little, deals and processes continue.” He states that newly started companies are likely to take a blow due to recently
Both the residential and commercial markets are being subjected to challenging headwinds that are slowing growth.
C
luttons’ Bahrain Property Market Outlook Spring 2016 report examines the local office, retail and residential markets throughout the Kingdom. According to the firm, both the residential and commercial markets are being subjected to challenging headwinds that are slowing growth; wherein the retail sector has been resilient, although they predict this may change over the course of the year. Average rents of residential properties have remained stagnant for the past two quarters, dragging the annual rate
of change down to 4.4% from 5.2% at the end of 2015. Data from Bahrain Property World (BPW) from January 2016 shows a weakening in average budgets – furthermore, with the gradual dismantling of national energy subsidies, which has resulted in a petrol hike of over 50% and prices of some essential foods rising; household budgets are likely to come under further pressure. The regular season of tenancy renewals commences in April and it’s likely an increased amount of rent negotiations would have begun last month. The removal of subsidies
hiked utility bills, but the residential market won’t be as affected. Gulf Insider asked Isa what could be the reason so many buildings are suddenly coming up around the country, almost resembling a boost in the industry. According to Isa, a high volume of visitors from Saudi Arabia account for a major market demand when it comes to freehold and daily service apartments. He didn’t share any figures on how much of the current under construction buildings are residential and commercial, but said that there is an evident demand, why else would there be so many buildings coming up otherwise? He adds that his company is also catching up with business after a little slowdown in the first quarter.
Gulf Insider May 2016
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Property
Gagan Suri, CEO of Bahrain Bay Development and Head of Real Estate (MENA) at Arcapita, is also a firm believer that Bahrain’s real estate market and economy has great potential to become the Middle East’s best tourism destination. With regards to property, he believes Bahrain has a cyclical market, which has already sustained two economic cycles in 2008 and 2011, and is currently on its third. “ The real estate market is not a consumer good, “ he informs, “It’s an investment market that takes a while to develop. To evaluate it, you have to measure its success and positive momentum over five, 10 or 20 years. “ Gagan explains that Bahrain’s a good example of sustaining through short term cycles and facing blips in the market. However, he points out that Bahrain is set to return with various initiatives conceptualizing between ministries to boost tourism and attract foreign investors to establish offices in Bahrain and hire more people. Gagan is confident and says regional investors are positive about the country’s market in the longterm, which is why there has been an evident hike in the construction or expansion of prime areas in Bahrain. 18
Gulf Insider May 2016
He believes Bahrain’s central location, aptly close to UAE, Qatar, Saudi Arabia and Kuwait is a huge benefit for the country, once new transport networks are established. “Manama’s convenient distances from major GCC countries will add to the ease of doing business and help the Kingdom grow significantly.
The second causeway between Saudi and Bahrain will possibly triple tourism. The second causeway between Saudi and Bahrain will possibly triple tourism Gagan adds. He shares that the new causeway and connectivity via bridges to the north of the island will bring in traffic right through Bahrain Bay – which means this prime development will become
the heart of the city. Gagan is certain that The Avenues, which will offer a unique shopping experience, is a game changer for Bahrain. “ The Avenues has been a great success for Kuwait. It’s a promenade inside a mall, with a variety of shops and restaurants. It will be a major attraction for the people of Bahrain and its visitors.” “ The boutique hotels and luxury service apartments market will pick up; F&B and retail will also gain momentum in and around the inauguration of The Avenues,” Gagan forecasts. Offices will be a tough sector for some time according to him, but he says new grade A offices which are currently experiencing an approximately 50% vacancy rate, may adjust rents to compete with grade B spaces in Seef and Manama. As for the ongoing cuts in subsidies, Gagan explains that people will not stop buying or eating, they need these elements to live. “ When we had subsidies, people didn’t notice the costs. Now that we’re paying more for certain amenities, people will adjust their lifestyles, learn to avoid wastage, live more consciously and sustainably, thus taking more consideration towards the environment.
Hotel Review
Ramada
Manama City Centre Now Open!
This modern hotel comprises of 140 rooms and suites, with spectacular sea views and is ideally located in the Al Seef District, close to Bahrain City Centre Mall.
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Gulf Insider May 2016
W
yndham, the World’s largest Hotel Group by hotel properties, is proud to announce the opening of Ramada Manama City Centre, the newest addition to the Ramada Hotels in Bahrain. Located in the heart of Manama, the hotel is merely a few minutes’ walk away from Bahrain City Centre Mall, the nation’s most popular retail and leisure destination in Bahrain. The property is predicted to satisfy Bahrain’s growing business and leisure market with state of the art facilities and amenities. It will soon inaugurate a
branch of the Reem Al Bawadi Restaurant and Cafe, famous for its authentic Middle Eastern cuisine and humble hospitality wherein guests can enjoy the traditional Shisha on the outdoor terrace. The hotel also has a rooftop swimming pool with an extensive BBQ area, offering a party experience with friends and family under the city lights sky. The hotel is also equipped with a full-fledged Gymnasium. For a relaxing massage and spa treatment, the hotel’s Taqah Spa is determined to cater to the needs of the guests with the best of stress relieving treatments.
Hotel Review
Lobby
For meetings, trainings, conferences or social occasions, the hotel’s Function Rooms Oryx and Bulbul can seat between 20 to 250 guests. Its F&B experts aim to deliver delightful menus, International buffets or energizing coffee breaks to match the event settings.
Reem Al Bawadi
Junior Suite
Business Suite
Oryx Meeting Room Taqah Spa
For more information: visit www.ramadamanama-citycentre.com or call +973 17104000. Guests can also participate in the Wyndham Rewards Loyalty Program.
Gulf Insider May 2016
21
Business
mostly American. Forbes Middle East traces the trajectory of the Alajlan family, from small shop owners, selling menswear in a Riyadh souk, to exclusive licensees of Versace, Ferrari, Kenzo and other luxury brands for shemaghs, the traditional Arab headdress.
Richest Arab billionaire Prince Alwaleed Bin Talal Alsaud (Saudi Arabia) – No. 1, net worth $17.3 billion. The Prince owns stakes in private and public companies in the U.S., Europe
Prince Alwaleed Bin Talal Alsaud
The World’s Richest Arabs 2016
T
he past year was unkind to billionaires all over the world, including the Middle East, where Arab billionaires saw their net worth drop by 23.8% from a year ago. Still, FORBES MIDDLE EAST added five new billionaires, including Hussain Sajwani from the U.A.E., Sheikh Faisal Bin Qassim Al Thani of Qatar, and Oman’s Suhail Bahwan. Prince Alwaleed of Saudi Arabia remains the wealthiest Arab in the world, even though his net worth fell by more than 20% from a year ago.
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Gulf Insider May 2016
At 7, Lebanon has the most billionaires, making it also one the countries with the highest number of billionaires per capita in the world. Saudi billionaires are the richest with a combined net worth of $34.6 billion. The second richest are from the U.A.E. with a combined net worth of $19.7 billion. Families remain pillars of Arab economies, providing jobs and stability. Saudi Arabia again tops the rich list, with 12 of the 15 richest families. Nine out of the 15 families made a fortune owning licensing rights to foreign brands,
Saudi billionaires are the richest with a combined net worth of $34.6 billion. The second richest are from the U.A.E. with a combined net worth of $19.7 billion. and the Middle East through Kingdom Holding Co .
Youngest Arab billionaire Fahd Hariri (Lebanon) – No. 32, net worth $1.2 billion. Fahd Hariri is the youngest son of slain Lebanese Prime Minister Rafik Hariri. While he currently lives in Paris, he develops residential buildings in Beirut .
New Arab billionaires Suhail Bahwan (Oman)– Ranked #7, net worth $3.4 billion. Bahwan started out as a small trader before diversifying into several industries. Hussain Sajwani (U.A.E.) – Ranked #8, net worth $3.2 billion. Sajwani founded
Business
residential real estate developer Damac Properties in 2002. Sheikh Faisal Bin Qassim Al Thani (Qatar) – Ranked #18, net worth $2 billion. At age 16, Al Thani started selling car parts in Doha, before establishing his eponymous holding company in 1964. Abdul Wahid Al Rostamani (U.A.E.) – Ranked #28, net worth $1.3 billion. Al Rostamani and his late brother, Abdullah, founded Dubai’s first bookshop in 1954. Mohammed Saud Bahwan (Oman) – Ranked #28, net worth $1.3 billion. Bahwan’s late father became Toyota’s agent in Oman in 1975 and built it into a market leader.
Richest families
Style
Olayan (Saudi Arabia) – Ranked #1, net worth $8 billion. The 69-year-old Olayan Group remains one of the largest familyowned holdings in the Middle East. It has partnerships with Kimberly Clark, Coca-Cola and General Foods, among other companies, and is a major investor in stock markets. Alshaya (Kuwait) – Ranked #2, net worth $5.billion. Founded in 1890, M.H. Alshaya Co. operates more than 2,800 stores across the Middle East, Russia, Poland and the Czech Republic, including Starbucks, H&M and The Body Shop. Al-Kharafi (Kuwait) – Ranked #2, net worth $5.billion. Founded by the late Mohammed Abdulmohsin Al-Kharafi, the Kharafi Group is one of the Middle East’s biggest conglomerates and a major investor in the Kuwaiti stock market. Abudawood (Saudi Arabia) – Ranked #4, net worth $4 billion. The late Ismail Ali Abudawood founded a small wholesale business in 1935 in Jeddah. Two decades later, the Abudawood Group became the exclusive agent for Procter & Gamble. Alajlan (Saudi Arabia) – Ranked #5, net worth $2.6 billion. Ajlan Alajlan opened a small shop in Riyadh in 1978. He and his brothers now own five garment factories in China, and sell clothing in more than
6,000 stores throughout the Gulf. Al Jaber (U.A.E.) – Ranked #6, net worth $2.5 billion. Founded in 1970, to date the Al Jaber Group has laid 7,000 kilometers of roads in the Emirates, and is the largest private sector employer in the country with more than 60,000 workers. Khalid Bugshan & Family (Saudi Arabia) – Ranked #7, net worth $2 billion. Holding Abdullah Said Bugshan Co., founded in 1923, was split between Khalid and his two cousins, Ahmed and Abdullah in 1998. Khalid Bugshan is CEO of Saudi Bugshan Group. Alhokair (Saudi Arabia) – Ranked #8, net worth $1.8 billion. Fawaz Alhokair Group is Saudi Arabia’s most valuable retail company with 11 shopping centers across the country, and rights to global brands including Zara, Gap, Nine West and Topshop. Ahmed Salem Bugshan & Family (Saudi Arabia) – Ranked #8, net worth $1.8 billion. Ahmed Salem Bugshan is chairman of one of three offshoots of Abdullah Said Bugshan Co. The group owns half of the Pepsi bottling and distribution operation in Saudi Arabia. Sharbatly (Saudi Arabia) – Ranked #10, net worth $1.7 billion. Founded in the 1930s, the Al Nahla Group is a conglomerate with interests in automobiles, food and real estate. It owns 40 million square meters of land in Saudi Arabia. Alrashed (Saudi Arabia) – Ranked #11, net worth $1.6 billion. Rashed AlRashed founded AlRashed Group in 1950, selling building materials during Saudi Arabia’s construction boom. He later diversified into real estate, automotive parts and food. Al-Dabbagh (Saudi Arabia) – Ranked #12, net worth $1.5 billion. Abdullah AlDabbagh founded the Al Dabbagh Group in 1962. Amr Al-Dabbagh, who was chairman of the Saudi Arabian General Investment Authority, now heads the family holding.
Jameel (Saudi Arabia) – Ranked #12, net worth $1.5 billion. In 1955, Abdul Latif Jameel won exclusive rights to distribute Toyota in Saudi Arabia. He passed away in 1993, and son Mohammed became chairman and president of Abdul Latif Jameel Co. Al-Agil (Saudi Arabia) – Ranked #14, net worth $1.3 billion. Brothers Mohammed, Abdulkarim, Abdulsalam, Abdullah and Nasser opened Jarir Bookstore after graduating. Jarir went public in 2003, now selling smartphones, office supplies and laptops. Al Subeaei (Saudi Arabia) – Ranked #15, net worth $1 billion. Mohammed and his brother Abdullah founded the Alsubeaei Company in 1933. In 2010, the second generation divided the assets and Mohammed’s family formed MASIC.
By Country Saudi Arabia – 6 billionaires worth $34.6 billion U.A.E. – 6 billionaires worth $19.7 billion Egypt – 6 billionaires, worth $14.2 billion Lebanon – 7 billionaires worth $12.5 billion Oman – 3 billionaires worth $6.2 billion Morocco – 2 billionaires with a new worth of $3.2 billion Algeria – 1 billionaire worth $3.1 billion Qatar – 1 billionaire worth $2 billion
Methodology Net worths are estimates as of February 12, 2016 for individual billionaires (unless otherwise stated) and March 8, 2016 for the families, where several relatives own shares in the same holding, but division of ownership is not known. The cut-off is $1 billion. Although he’s a native of India, FORBES ranks P.N.C. Menon as an Omani national, as he is a citizen of that country. Gulf Insider May 2016
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Opinion
Dubai's 7 Star Burj Al Arab is it REALLY that special? Gulf Insider bravely reports on spending a night at Dubai’s most iconic hotel.
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ell, the hotel justifies its claiming an extra 2 stars because of the extra service and luxury it offers over other premium hotels. This includes dual-level suites… and gold-leaf interiors… and a helipad… and personal butlers…etc… etc. So the extra stars are self-elected, which is cheeky, but in fairness there’s merit in the decision. Let me eplain. The Burj Al Arab exists for the crème of society. It is what many would describe as opulent, or ostentatious. Some would describe it’s décor and services as ‘over the top’. Of all the hundreds of hotels in the region, the Burj Al Arab probably has the most famous and recognizable silhouette. It stands alone from other structures into the sea and is shaped like a sail so as to represent Dubai’s marine heritage. It has become the national symbol of Dubai. It even appears as the icon on Dubai’s car registration plates. It is to our knowledge the only hotel in the world that serves as a national symbol.
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OK, first things first… How is the Burj Al Arab able to claim to be a seven star property when official hotel ratings from Forbes and AA only offer a maximum of five-stars?
Opinion
meant I didn’t give it the full attention it deserved. On the subject of food. The place to go in the evening is all the way to the top of the hotel where you will find Al Muntaha (Arabic for ‘The Ultimate’ or ‘The Top’), where you can view the distant glittering lights of Dubai. There’s a helipad on the roof - some guests prefer this method of arrival over plain old Rolls Royce. I will remember this for my next visit. When I tucked myself into bed at the end of the evening I noticed a great big mirror on the ceiling looking down on me – A MIRROR!! ON THE CEILING!! I thought about all the ‘interesting’… er, ‘events’ it must have seen in its time. Far more interesting that me looking up at it, and perhaps latter lying across the bed I was picked up from Dubai’s International Airport, now the busiest airport in the world having surpassed London Heathrow less than a year ago, and delivered to the hotel in a brand new white Rolls Royce. The hotel has its own fleet of white Rolls Royce’s, and the last leg of the journey to the hotel is crossing a short causeway which separates the property from the, er… ‘mainland’. Upon arriving at the hotel and entering the Burj’s spectacular lobby my eyes were immediately drawn to fountains shooting water high into the air. Perhaps designed to make arriving guests look up and see the architectural open planning visible all the way, a long way, to the ceiling of the hotel. I walked past lavish expensive designer shops accompanied by a hotel representative who took me to my room duplex (2 floor) suite. Huge windows looked out across the glittering sea and the pad was the epitome of luxury. There was a
Macbook computer, Hermes toiletries, complimentary gold leaf chocolates, a massive walk-in closet, and a huge kingsized bed... oh yes, and it came with my own butler who unpacked for me – then without any instruction from me began ironing my clothes that had crumpled in my case. He also ran a bath for me to relax which included adding candles, flowers, and fragrances to the water. So what to do next? Off to lunch of course. There are nine signature restaurants. I choose to dine at the hotel’s Al Maharba restaurant (Maharba is Arabic for ‘Welcome’). It is surrounded by a giant aquarium filled with colourful fish as well as a few sharks. On hand is a team of seven experts, led by a marine biologist, who between them look after this ‘fish tank’. Oh, and the food was amazing, though the incredible distraction of my exotic surroundings
asleep with my mouth open snoring. Obviously I slept fantastically, after all – as a leading Bahrain hotel manager once told me, the primary function of any hotel is to provide guests with a good night’s sleep. During my stay I had the opportunity to visit the Royal Suite, which is larger than the average house – and better equipped. Amongst other things it has a revolving bed (for ‘good night’s sleep’… hehe) and a gold staircase. There are many who will find this hotel ‘over the top’, ‘untasteful’, ‘overly opulent’, but that is what this property is all about – being over the top, because it can be so!
Duplex suites at the Burj Al Arab are priced from $1,500 per room per night for the deluxe duplex one bedroom suites (the entry level category). Gulf Insider May 2016
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Affairs
The UAE adds another notch
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e often marvel at the progress made by the UAE. At the heart of that country is the emirate of Dubai, a glistening city of glass and glitz. But it is not simply the honor of hosting the tallest building in the world or accommodating a ski slope with real snow smack in the middle of a desert that continues to bring fame to the country. It is about the “can do” spirit among its public servants, a 26
Gulf Insider May 2016
spirit that somehow is difficult to find among our bureaucrats here. The UAE’s uniqueness now includes something unheard of anywhere on this planet. Under the direction of Crown Prince Sheikh Mohammed Bin Rashid, the UAE has announced ministries for happiness, tolerance, youth and the future. This is a dramatic break from the traditional ministries, departments and prefectures found elsewhere in the
Tariq A. Al-Maeena world. As an example of further “in your face” spirit, the country has appointed a 22-year-old woman to be the first minister of youth, another woman to head the ministry of happiness and finally another woman to be the minister of tolerance. This makes a total of eight women in the UAE’s 29-member cabinet. Before we are too quick to dismiss such moves as frivolous, let us hear about the logic behind them from the architect
Affairs
forget that the genesis of the tension in our region, the events dubbed the ‘Arab Spring’, was born as a result of the lack of opportunities for young people to achieve their dreams and ambitions.” Direct in acknowledging the role of the youth of his country, Sheikh Mohammed justifies his government’s decisions by adding that “we are proud of our youth. We invest in them and empower them precisely because they are our future.
The role of government is to create an environment in which people can achieve their dreams and ambitions, not to create an environment that government can control. himself, Sheikh Mohammed Bin Rashid. Reflecting on the many news reports, stories and media interviews on the reasons for the new changes in the government, Sheikh Mohammed says that “the changes reflect what we have learned from events in our region over the past five years. In particular, we have learned that failure to respond effectively to the aspirations of young people, who represent more than half of the population in Arab countries, is like swimming against the tide. Without the energy and optimism of youth, societies cannot develop and grow; indeed, such societies are doomed.” He continues: “When governments spurn their youth and block their path to a better life, they slam the door in the face of the entire society. We do not
We believe that they are faster than us in acquiring and processing knowledge, because they have grown up with tools and techniques that we lacked at their age. We entrust them with driving our country to new levels of growth and development, which is why we have now appointed a cabinet minister of their age and created a special council of youth.” In explaining the reasoning behind creating the post of the minister for tolerance, Sheikh Mohammed said that lessons should be learned from “the hundreds of thousands of dead and millions of refugees in our region that sectarian, ideological, cultural and religious bigotry only fuel the fires of rage. We cannot and will not allow this in our country. We need to study, teach, and practice tolerance and to instill it in
our children, both through education and our own example.” Sheikh Mohammed emphasizes that “tolerance is not simply a slogan or a buzzword, but an ideal we must cherish and put to use. It must be woven into the fabric of our society to safeguard our future and maintain the progress we have made. There can be no bright future for the Middle East without an intellectual restoration that re-establishes the values of ideological openness, diversity, and acceptance of others’ viewpoints, whether intellectual, cultural or religious.” As for the happiness of his subjects, Sheikh Mohammed added that “their satisfaction with their lives and optimism for the future are crucial to our work, which cuts across every sector of government. That is why there must be a minister to guide and follow up with all government institutions. Ours is no empty promise. We will seek to create a society where our people’s happiness is paramount, by sustaining an environment in which they can truly flourish. And we hope our formula benefits others in the region.” Sheikh Mohammed also used this forum to send a message to others in the region that “change happens by our hands only. Our region does not need a super-strong external power to stop its decline; we need the power from within each one of us that can overcome the hatred and intolerance that has shattered life in many neighboring countries.” He said that “governments in our region and elsewhere need to revise their roles. The role of government is to create an environment in which people can achieve their dreams and ambitions, not to create an environment that government can control. The point is to empower people, not hold power over them. Government, in short, should encourage and promote an environment in which people create and enjoy their own happiness.” Wouldn’t it be a better world if every ruler put those words into action?
The author can be reached at talmaeena@aol.com. Follow him on Twitter @talmaeena
Gulf Insider May 2016
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Motors
CAR insider
New car launces in Bahrain
2016 Toyota Innova Multi-Purpose Vehicle (MPV) Launched by Ebrahim K. Kanoo
Price: BD6,400
The Young and Dynamic MG GS Price: BD8,500
The MG GS is the first SUV emerging from Morris Garages’, making its debut in Bahrain. It effortlessly carries a trendy look combining sporty elegance with sharp, smooth body lines.
Ferrari 488 Spider Arrives to Bahrain The Ferrari 488 Spider is the latest chapter in Ferrari’s on-going love affair with open-top V8 sports cars.
Price: BD95,000
The New Porsche 911 Featuring subtle design enhancements, new bi-turbo boxer engines for more power, and a host of advanced technology for total control.
Price: BD36,400 28
Gulf Insider May 2016
Motors
Porsche Centre Bahrain welcomes the thoroughbred Macan GTS
NEW 2016 INFINITI QX50 LAUNCHED IN BAHRAIN Enhanced for 2016 with a new front and rear bumper and lower front end and rear facia.
Price: BD14,300
Maserati’s remarkable story continues with the ground-breaking Levante
Price: BD30,300
2017 Mercedes C-Class Coupe Al Haddad Motors introduced the allnew Mercedes Benz C-Class Coupe during Formula 1 by Lewis Hamilton and Nico Rosberg.
Price: BD32,500
Price: BD18,700
Motorcity reveals the all-new SUV X65 from BAIC
Price: BD6,600 Gulf Insider May 2016
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in si de r CAR
Porsche 911 Carrera and 718 Boxster Nick Cooksey shares his views on the latest Porsche 911 and 718 Boxster models after taking them for hot laps at Yas Marina F1 Circuit in Abu Dhabi.
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his was the first time Gulf Insider had the opportunity to experience two car launches simultaneously by the same company. Quite often when invited to a media test drive, the driving component can be a bit boring since being on the road means we typically drive for hours in a convoy, strictly following legislated speed limits yawn. But test driving on the Yas Marina Circuit meant we motoring journos could push the car to the limit of its ability… or rather I should say to the limits of our own abilities as these Porsches were far
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more capable than anyone there to drive them over the two days I was there. The Porsche 911 and 718 Boxster, formally known as just Boxster, are each iconic cars. In fact the 911 is not just an icon but has been the benchmark that all other “practical” Supercars set themselves against. Porsche undertakes major upgrades to their models every seven years, which gives them time to make huge changes and improvements over the models they replace. We were told both new models were effectively brand new cars over the previous model
while still maintaining continuity and their original DNA. This means anyone from the past would still instantly recognize even the most modern models. The 2017 Porsche 911 Carrera’s bi-turbo charging engine raises the emotional driving pleasure and results in an increase of 20hp across the range. The 370-hp flat-6 engine boosts from zero to 100 km/h in 4.2 seconds, while the Carrera S models now develops 420hp and completes the zero to 100 km/h sprint in just 3.9 seconds. The exteriors and performance options vary widely
Motors
Porsche 911 across the 911 range, but the cabins are nearly identical throughout. The front seats are comfortable and roomy, with an open-feeling cabin thanks to a large windshield and side windows. The rear seats allow for extra cargo and occasional back-seat passenger, as leg room is minimal. A sloping roof limits headroom, while the front trunk area holds a fair amount of luggage. New items featured in the 2017 models include a handful of small refinements, such as the new Porsche Communication Manager (PCM); it’s now a state-of-the-art, 7-inch touchscreen, easily operatable like a smartphone and offers new Porsche Car Connect features. The new wheel’s taken from the 918 Spyder with four driving modes and the Sport Response Button for extra boost while overtaking. If you’re willing to pay the price you can add many of the comfort, technology, and appearance-related add-ons that are offered in luxury sedans and SUVs. Personally, for doing hot laps around the Yas Marina Circuit, the 718 Boxster S for me took the prize. It’s light, perfectly balanced and responsive, and terrific fun. Comparing it to the standard 718 Boxster is like comparing two completely different sports cars that just happen to look virtually identical. Don’t get me wrong, the standard 718 Boxster
In fact the 911 is not just an icon but has been THE benchmark that all other “practical” Supercars set themselves against.
is a great car, but add the S and it’s a different beast. This was proven when we had the opportunity to compare the 718 Boxster and 718 Boxster S side by side over hot laps. When I was driving the 718 Bosxter I could not even keep up with the 718 Boxster S, even over a single lap. Yet swapping cars while keeping the same drivers and things were reversed. Suddenly it was me that was way ahead. It was useful to be able to conduct such a test, proving that so often it is the car and not the driver that ‘wins the race’. The standard 718 Boxster gets a two-litre ‘boxer’ turbocharged engine with 300bhp, up by 35bhp from the older 2.7-litre unit. It’s also upgraded Gulf Insider May 2016
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Motors
718 Boxster Personally, for doing hot laps around the Yas Marina Circuit, the 718 Boxster S for me took the prize. It’s light, perfectly balanced and responsive, and terrific fun. to 380Nm of torque from 1,950rpm, boosting it a full 100Nm. Meanwhile, the 718 Boxster S features a 2.5-litre version of the same engine, but with variable-geometry turbocharging (like the 911 Turbo), producing 350bhp and a mighty 420Nm of torque from 1900rpm (increased by 60Nm). It adds up to 0-100km/h in 4.2 seconds and 285 km/h flat-out, while fuel economy improves by up to 13%. As for design differences over the previous model, at the front of the car there are larger air intakes at a flatter angle, as well as thin four-point LED light strips and sharp new headlights. 32
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There are bigger vents on the sides (required for the huge air demands of that turbocharger) and sleek new door handles. At the back the changes are more noticeable, with wider haunches, a more tapered boot-lid and pinched taillights with a dual-LED strip. The Porsche badge now sits atop a controversial new ‘accent strip’ running between the lights, while there’s new oval exhaust tip and an electrically raising rear spoiler. 18, 19 or 20-inch wheels can be selected, with the latter getting chunky 265-section tires. If you are racing then by all means go for the 20 inch, otherwise you will be
a lot more comfortable sticking with the standard 18”.
To arrange a test drive, contact Porsche Centre Bahrain Tel: +973 1745 9911 or Visit: www.porsche.com/middle-east/
Starting PRICES: 911 Carrera
BHD 36, 400
911 Carrera S
BHD 42, 900
718 Boxster
BHD 22, 900
718 Boxster S BHD 25, 700
in si de r CA R
Rolls-Royce Dawn Desert Drive Nick Cooksey was one of the first few in the region to drive the 2016 Dawn; he shares his experience of spending a luxurious day in Dubai.
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he company’s design chief, Giles Taylor, set out to create the Dawn as beautiful with the roof up as it was down, with the intention of producing “two cars in one”. The 2016 model is inspired by the Silver Dawn Drop heads that were produced shortly after the end of World War II and were limited to just 28 cars. Rolls-Royce claims it understands luxury as unique or rare, handcrafted and beautiful. The two-door, four-seat convertible is big, luxurious and comfortable, with
loads of leg-room at the back and enough space for a small fridge that stores a bottle of champagne and two flutes. When the roof’s down, the Dawn offers a completely different experience proving Taylor’s goal of creating “two cars in one” to be true. The six layers fabric roof is completely silent and folds down in about 20 seconds when the car’s driving at up to a speed of 50km. Rolls-Royce calls the mechanism’s operation “The Silent Ballet”. Powered by a 6.6L twin-turbo V12 that
Motors
Nick Cooksey gets used to being behind the wheel of the Dawn
Powered by a 6.6L twin-turbo V12 that revs up to 563HP, the Dawn is incredibly mighty, in fact it has the same power as a Ferrari. revs up to 563HP, the Dawn is incredibly mighty, in fact it has the same power as a Ferrari. But you’d obviously not drive it that way, given its likeliness to a gentlemen’s club on wheels with its exterior sheet metal curves and swoops and gorgeous leather and real wood trim interiors, you let the car glide rather than race, making a bigger statement on the road.
Driving a Rolls-Royce is a unique experience. You feel you have near limitless power and yet you don’t feel like you need to use it – and I say this as someone who loves to drive fast (and had just spent a couple of days driving Porsches on a race-circuit – see previous article). Often on a media event for a car launch you feel frustrated having to drive in a convoy at the legislated speed limits and so feel you are unable to properly experience the car. Yet, here I was gently cruising in a 563 horsepower V12 monster of a car, and I was perfectly content to just have the roof down and the car radio’s volume up. This is not just my opinion by the way, everyone on the trip that I spoke with on this subject felt the same. Rolls-Royce insisted we drive the cars in a convoy following a colour coordinated pattern – how artistic! (or more likely I think an ‘in-joke’ said with straight faces). Since part of the experience was to “explore a day in the life of a Rolls-Royce owner”, the company invited us to drive our cars across Dubai and to spend the night at the wonderful Al Maha Resort. This haven of peace and desert tranquility may only be an hour’s ride from central Dubai, but in many ways it’s a different world – a beautiful world (to see a one minute video filmed on my camera-phone check out Gulf Insider – Al Maha on YouTube. Supposedly less formal in looks, the Dawn, Rolls-Royce tell us, is targeted towards a younger clientele although the average buyer age is 45. In the end, age is hardly a factor when its owner enters this world of luxury on wheels and glides to wherever it is they have decided to go to.
youu ask,k,yo vetotoas have youuha Pr ice: :IfIf yo Price ford it. ca can’n’t tafafford it Gulf Insider May 2016
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Bahrain
Telecom insider VIVA takes the lead in battling scam and spam VIVA Bahrain is reaching out to combat the issues on rise by first raising awareness among its customers.The three most prevalent cases VIVA customers have reported are international ghost calls, lottery calls and calls from fraudsters disguised as VIVA employees on mobile messaging applications like WhatsApp or IMO Instant Messenger. All are known as scam and involve imposters requesting sensitive details in a variety of ways to steal.
Mohamed Bubashait, General Director
TRA Lifts Regulations on Competitive Telecommunications Markets TRA’s in its latest reviews of competition in the retail market concluded that the retail market for international outgoing calls from Bahrain, and the retail market for massmarket access to call services including domestic calls from a fixed location are competitive. The latest market indicators show that most domestic calls are made using mobile services. Mobile subscriptions have grown by 40% since 2010, accounting for 90% of all combined fixed and mobile subscriptions at the end of 2015. Accordingly, a majority of calls in Bahrain originate on mobile networks, accounting for 94% of total domestic call traffic at the end of 2014. The average price per minute for international calls has fallen by 68% since 2008, causing total international outbound call minutes to triple from 953 million minutes in 2008 to 3.4 billion minutes in 2014. 36
Gulf Insider May 2016
Batelco Announces Prime Sponsorship of International Telecoms Week (ITW) 2016 Pprestigious events such as ITW offer Batelco a platform to meet its partners from around the world, and discuss ways to strengthen their relationships further. ITW is an annual event which attracts more than 6000 senior executives from carriers, service providers, ISPs, VOIP providers and technology partners from all over the world. The event is scheduled to take place in Chicago from Adel Daylami, Batelco Chief Global Officer 8 to 11 May.
Batelco Joins World Teleport Association (WTA) Batelco has been welcomed by The World Teleport Association (WTA) as an Industry Patron Member. The support of Industry Patrons makes WTA’s research, publishing and cooperative development programmes possible. Batelco also recognizes that the satellite industry is a key catalyst for the Bahraini economy, as it services a number of verticals including maritime, oil and gas, enterprise and broadcast.
in si de r Te le co m
What Customer Service?
Etisalat’s inability to put customers first By Alex Malouf
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’m a patient man. Really, I am (I can imagine my wife shaking her head right now, but it’s true). I can put up with anything. It’s just that I don’t want to give up the good fight when it comes to telling companies that we customers in the Gulf (and especially in the UAE) deserve more. Here’s one story of a company that could do a whole lot more to be customer-friendly, my favorite Etisalat. At the beginning of the year, I was jumping up and down with excitement. For the first time I could change my internet provider at my home in Abu Dhabi. For years, I’d been stuck with Etisalat and its atrociously poor customer service. Now, I could move to Du. I took the opportunity, and moved. Unfortunately, no matter how much I wanted it to work, I couldn’t get television services as part of my internet and telephone services, and Du’s internet connection was poor and often dropped. With a tear in my eye, I had to go back to Etisalat.
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Forget listening to the customer, forget keeping them happy and increasing their average spend through giving them what they want. So, I head on down to one of Etisalat’s outlets and make the request for internet at home. The request was simple enough, until we got to the nitty gritty of the agreement, which included a router and phone. There was no need for either, I explained, as I’d already spent on both. No, I was told by the sales person, I’d still have to take the router and phone as part of the package (in other words, the
package was fixed). First step done, I waited for the engineer to come around. He did and he had a look at my internet setup. He then asked if he could set up the network, including the Etisalat router, a D-Link AC1750 router. I said I’d like my router set up, a Linksys WRT1900ac which I’d already spent a significant chunk of money on and which I’d already set up for my home. After an hour of “discussion,” including lines such as “the Etisalat connection will only work with the D-Link router from Etisalat,” and “the Linksys wouldn’t work as it couldn’t be configured” (both of which were utter nonsense), I spoke to a supervisor who told me that it was a sales decision and that I’d need to go back to the store to sort it out. I even offered to take the router but not to use it. My request was turned down. In essence, no Etisalat router installed = no internet. Two days later, I received an SMS saying that my original request for internet had been declined and that I’d have to make a new request. Which of course I did, and during which I asked the same things, to be told the same excuses. Essentially, someone in head office had decided that he knew best, better than his customers, and that without a router from Etisalat, which we pay for, we can’t get internet from Etisalat. What pains me is that I’m not alone in my point of view (and my suffering). The first engineer explained that every day seven or eight customers would tell him the same thing, and yet he couldn’t do anything. All that we customers can do is dump our expensive kit so that someone in Etisalat can make more money. Forget listening to the customer, forget keeping them happy and increasing their average spend through giving them what they want. Let’s ram products down their throat as there’s nowhere they can go and no one they can complain to. It’s naturally disappointing, especially when you consider the leaps and bounds that are being made by other operators in the Gulf.
The author originally published this article on his blog Alex of Arabia.
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Advertorial
Te le co m
Telecoms
ICT Breakthroughs by VIVA
Technology Leadership Strengthened with 4G Network Upgrade.
Having already established Bahrain’s widest 4G network with more than 500 4G sites across the country, VIVA’s recent upgrade meets the growing needs of
VIVA’s state-of-theart 4G network upgrade will boost customers experience by adding 50% to the overall network speed.
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IVA Bahrain announced the successful completion of its first 4G network upgrade, further reinforcing it as the fastest and widest in the Kingdom. VIVA’s state-of-the-art 4G network upgrade will
boost customers experience by adding 50% to the overall network speed, offering now up to 150 mbps and the ability to handle major network capacity and continue delivering next-generation technologies.
NEW! VIVA Communicator App VIVA Bahrain has announced its partnership agreement with CSG, a global leader and innovator in enterprise mobility solutions, to create an enterprise communication platform. Primarily, this platform will provide enterprise voice and messaging services with the ability to share files between registered employees. CSG’s application suite forms the foundation for the new platform that will be offered to serve companies in Bahrain. The VIVA Communicator application allows users to send text messages, pictures, videos and file attachments in an enterprise controlled manner between smartphones and tablets. The app also provides closed Voice over IP (VoIP) calls and allows users to create closed contact groups for ad-hoc conference calls. With Enterprise features such as an interface to standard office phone systems (PBXs), voice mail, conference calling and calling the public phone network, the app ensures that company confidential information remains protected.
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Bahrain’s highly connected environment and fulfils customers’ ongoing demand for expansion of existing and new services, which creates more demand for voice and data capacity. “To provide our customers with the best communication experience, we have added value to our 4G network to continue ensuring its superior performance. The successful upgrade of our 4G network makes way for ultraspeeds for VIVA’s mobile customers and enables faster connectivity and downloads,” Ulaiyan Al Wetaid, VIVA’s CEO, commented. The upgrade in VIVA’s 4G network allows for better speeds and higher bandwidth for customers, further enhancing their experience when downloading, media streaming, gaming or when using social media. It aims at delivering the highest 4G service speeds to subscribers and continues providing the most reliable and operationally efficient network in Bahrain.
Telecoms
Eng. Ulaiyan Al Wetaid, VIVA CEO
VIVA Bahrain deploys the world’s first triple-beam antenna technology in collaboration with Huawei.
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IVA Bahrain made a global breakthrough by successfully implementing, for the first time commercially, Huawei’s triplebeam antenna technology. This innovative technology, delivers approximately 2.7 times the performance of a regular mobile tower and capacity to absorb traffic demand, offering higher quality telecommunications services, whilst enhancing VIVA’s customers connectivity at events or locations were data demand is extremely high. VIVA’s first successful deployment of Huawei’s-designed solution was done during the ‘2016 F1 Gulf Air Bahrain Grand Prix’ race, where VIVA subscribers enjoyed flawless connectivity to the Kingdom’s fastest and widest 4G network. This was the first stage of a full roll out planned of this technology in different locations across Bahrain where installation of new tower sites has limitations.
We always look for new ways to further enhance our customers’ experience and meet their demands for high data volume.
“Delivering the Kingdom’s fastest 4G LTE network lays at the heart of VIVA and this time we have achieved so by implementing an innovative solution that also provides an environmentally responsible alternative by significantly reducing the need to build new tower sites in Bahrain,” he ended. “Both companies worked closely to ensure the successful deployment of Huawei’s solution, making VIVA the first operator in the world to use it for commercial purposes. Crowd management and sustaining network performance at these previously unreachable levels is truly a great achievement,” said Peng Honghua, President of Huawei’s Wireless UMTS Product Line. With this innovative solution, VIVA customers will continue to enjoy uninterrupted voice and data services and an unprecedented telecom experience.
“Jointly with Huawei, we have achieved a great technological breakthrough. We always look for new ways to further enhance our customers’ experience and meet their demands for high data volume,” said Eng. Ulaiyan Al Wetaid, VIVA Bahrain CEO.
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Finance
Citi Bahrain
Citigold Banking
Redefining banking services What are the key advantages of being a Citigold customer, who can apply for the program and what are the procedures involved? Harpreet Arora
C
itigold Banking, a premium personal banking and wealth management service is available exclusively to Citigold clients around the world. This globally integrated offering provides seamless access to a wide range of financial services that fully leverage Citi’s worldwide reach and expertise. From day-to-day banking and global services to investments, the focus is on what matters most to you. Citi’s Global offering for its Citigold customers provides enhanced levels of service, as well as access and convenience for today’s globally mobile customers, anytime and anywhere. Citigold offers a combination of three premium services - wealth management, international banking accounts and services for an international lifestyle. However, the services require the customer to maintain a minimum average monthly balance of $100,000 (or any currency equivalent) across all Citi Bahrain accounts, including investments. “Today we live in a global village. As the world gets smaller, the needs of affluent clients is more diversified in nature. The number of people travelling or relocating outside their home countries for business or pleasure, managing a sophisticated
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Gulf Insider May 2016
investment portfolio or studying abroad is growing rapidly,” said Hussain AlBaluchi, Head of Wealth Management and Branch Banking at Citi Bahrain. “Our Citigold Global Banking offering not only simplifies these customers’ banking
Citigold privileges its customers whether they are relocating, travelling or residing in multiple countries. experience wherever they are or want to be, but also further strengthens our ability to anticipate and meet the needs of this fast-growing customer segment.” Harpreet Arora, Head of Citigold Segment added “As people move or travel around the world, they want to maintain their ‘home’ banking relationship, their credit and, above all, quick and easy access to their accounts.
Hussain AlBaluchi Today, Citigold Global Banking allows our customers to take advantage of these and other world class services. Citigold Global Banking delivers a new level of value, performance and access that very few banks in the world can match. Services include a wide range of investment products in all major currencies, unique opportunities and personalized privilege and access to offshore wealth management.” Further, existing Citigold customers can now benefit from referring their friends and family members through a referral program for a complimentary financial consultation with a Citigold Relationship Manager and can be rewarded when they start a banking relationship with Citi Bahrain. The referral program is specifically designed for existing Citigold customers.
Citi’s Global Consumer Banking division is the group’s retail banking arm with global operations through a network of 2,994 branches in 24 countries, subdivided in three main regions; North America, Latin America and Asia. For more information stop by your nearest Citi branch to speak with a registered Wealth Management Consultant or call: +973 1758 2484.
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Travel
Dubai
world’s most expensive city
Most expensive 1. Dubai - £278.92 2. New York City - £256.80 3. Botswana - £225.07 4. Marrakesh - £223.44 5. Sydney - £203.06 6. London - £191.50 7. Singapore - £183.87 8. Caracas - £173.69 9. Cancun - £172.79 10. Lima - £158.90
Most affordable 1. Budapest - £40.34 2. Tenerife - £58.68 3. Bangkok - £61.44 4. Hanoi - £63.16 5. Cape Town - £66.02 6. Faro - £67.58 7. Auckland - £73.00 8. Corfu - £78.45 9. Sharm el-Sheikh - £78.86 10. Kuala Lumpur - £81.26
Dubai ranked world’s most expensive tourist destination.
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ubai has been named the most expensive tourist destination on the planet by a British survey. According to the survey, holidaymakers spend an average of £278.92 per person for a one-night stay in the United Arab Emirates’ largest city – more than six times the price of Budapest (£40.34), the most affordable of 46 cities or countries included in the new study. New York (£256.80) is the second most expensive destination, followed by Botswana, Marrakech, Sydney and London. The study by airport transfer booking website Hoppa calculated an average cost for each destination based on six things international tourists normally purchase on holiday: a beer, cup of coffee, meal for two, bottle of wine, hotel room for one night and taxi fares. 44
Gulf Insider May 2016
Dubai topped the overall ranking, with a five-night stay for two costing on average nearly £2,800, and had the most expensive hotel rooms. Visitors to Dubai have to fork out an average of £214.81 per person, the study found. Botswana, a popular African safari destination, had the second most expensive hotel rooms, at £210.30 a night per person. Budapest, on average, has the cheapest hotel rates, at just £23.23 a person per night. For a night out, tourists will spend the most in New York (£76.50) based on food and drink costs. Hanoi offers the cheapest evening out, with tourists spending an average of £19.55. The Big Apple had the most expensive meal for two at a mid-range restaurant (£54.93), while London was second (£50).
Source: Hoppa
The cheapest eats were found in Marrakech (£10.18) and Kuala Lumpur (£10.75). Dubai (£6) and Paris (£5.93) had the priciest pints. Hanoi (47p) and Lima (£1) had the cheapest. For a bottle of house wine, tourists will spend the most in Dubai (£17.47) and Singapore (£16.99), and the least in Faro (£3.54) and Budapest (£3.57). Getting to and from the airport by taxi can be incredibly expensive in some cities. On average, taxis on Botswana charge just 73p per three kilometres, far less than Dublin, where passengers are charged an average of £10.26, the study claimed.
Currency converter: 1 British Pound (£) = US$1.44 = BD 0.38
Al Jabal Consultancy Attorneys and Legal Consultants
Mohamed Al Wasti Partner
Khadija A. Al Hussain Partner
Saleh Al Nashabh Lawyer
A full service law firm for Bahrain and the Sultanate of Oman, founded in 1995 by
Mr Ali Al Jabal Mansoor Nadhar Lawyer
Areas of Specialisation: Mohamed Ismael Lawyer
Banking & Finance Bankruptcy & Corporate Restructuring Corporate & Commercial Litigation Dispute Resolution Intellectual Property Rights Insurance Mergers & Acquisitions Private Equity
Project Finance Property & Real Estate Oil & gas Maritime Aviation Debt collection Legal drafting & Contract Reviewing Telecommunication Law
Office No. 703, 7th Floor, Diplomat Tower, Diplomatic Area, PO Box 11455, Manama, Kingdom of Bahrain Tel: +973 17 530 400 E-mail: aljabal@aljaballaw.com Website: www.aljaballaw.com
Style WATCH insider
Time pieces for him & her Iwc Schaffhausen celebrates its tenth special edition with Laureus Portofino Automatic Moon Phase 37
Must Haves
IWC Schaffhausen presents the Portofino Automatic Moon Phase 37 Edition “Laureus Sport for Good Foundation” to celebrate the Laureus World Sports Awards ceremony in Berlin. The timepiece, limited to 1,500 watches, marks the tenth special edition to be launched by the Schaffhausen-based luxury watchmaker as part of its commitment to Laureus Sport for Good. The dial and the moon phase display feature the unmistakable Laureusblue, lending the timepiece an extraordinary plas¬ticity and depth. The hour indices are complemented by 12 diamonds, which combine with the blue alligator leatherstrap from Santoni to give the timepiece a very elegant overall look. With a case measuring 37 millimetres in diameter, this watch is also suitable for watch lovers with slender wrists. It is driven by the automatic 35800-calibre move¬ment with a power reserve of 42 hours.
BD3,315 46
Gulf Insider May 2016
Swarovski unveils its first automatic watch for women
BD470
Crystalline Hours On-trend, versatile and infused with a touch of glamour, Swarovski watches stylishly complete any look from day to night. For the first time within its women’s watch collection, Swarovski introduces an automatic piece, Crystalline Hours, proving that technology and precision can be interpreted in a feminine way. Created in collaboration with top watch designer Eric Giroud, the watch features a round face, and a curvy domed case containing approximately 4,000 tiny faceted crystals that sparkle with a turn of the wrist. With a hint of 40’s watch inspiration, delicate and elegant, Crystalline Hours is a daring timepiece which can instantly upgrade a casual outfit or complement a luxurious evening one, making a bold fashion statement either way.
Style
SHOE TALES Santoni’s SS16 collection is the result of an aesthetic and artisanal research involved in a constant evolution.
S
antoni shoes are precious objects with no preciosity. This season shapes are shortened and thinned down creating new balances. The detail of the vamp closed by a double buckle is recurrent and characterizes classic double monkstrap in precious and surreal nuances, woven python or suede slippers and leather sandals. Cuts reveal the foot, redesigning its silhouette: no stitching and sharp profiles. Island soles and hand-sewn opanka shells bestow new presence to the lace-ups, while the two-colour shoes nod to a modernized yesteryear’s elegance. Softness is also a recurrent value. Unlined and graphic sneakers show a casual allure that can also be found in the bags: completely deconstructed attachés and briefcases. From candid to burnt leathers, from intense brown to deep orange and red, from the shades of blue to night black, the colour tones are dense and masculine. Materials are enveloping and precious; brushed calfskin, crocodile, kangaroo, silklike moose and aged calf with gloss finishing.
Price range: BD200-440
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Opinion
His offer took me completely by surprise, so after confirming that he was serious I considered it for a few seconds before surprising myself and very politely refusing his offer. Why did I turn down an easy couple of grand? I’m not averse to the odd trade, but I turned down his offer for several reasons. One I guess was a concern about the ‘legitimacy’ of such a trade – why would a man offer a stranger he had just met on a plane such a deal? What if he wasn’t really serious, or that the money was counterfeit etc.? I concluded that his offer was genuine and probably
Why I didn’t sell my watch for a quick profit
Nick Cooksey shares an incident when he was offered double the price, in cash, for his IWC watch.
T
hose who know me know that I have a “thing” about watches. In particular Swiss mechanical watches from certain iconic brands. I have a collection of 10 such timepieces and I typically alternate them every few weeks. A couple of months ago I was in Business Class on a flight from Dubai to Bahrain and happened to be seated next to a Saudi businessman. As a watch lover I couldn’t help but notice that he was wearing an antique two-tone gold Rolex Submariner, a fine timepiece which I complemented him on. He didn’t have much to say about it and I got the impression it had been purchased without a great deal of consideration and that he was not much interested in watches beyond wearing them as a status symbol. The gentleman asked me about the watch I had on. I explained that I was
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Gulf Insider May 2016
wearing an IWC Mark XVI, a series that originated in 1948 when the Mark 11 was designed for UK’s Royal Air Force. The reason for its simple design was so it was clearly legible when flying, particularly at night. I also told him about the custom made vintage strap that I had made for it. My enthusiasm, rather than boring him, was obviously infectious and I could see I had caught his attention. He asked if I would take off the watch so he could inspect it, which I did. To his question of how much was the watch worth I replied that in the current market, a used Mark XVI in mint condition such as mine sells in the region of USD2,500 to USD3, 000. He pondered my answer for a few seconds and then offered me US$ 5, 000 cash for it, pointing towards his briefcase, claiming it had enough hundred dollar bills inside to cover the transaction.
A watch is a personal item – it touches the body. It has travelled with you and offers memories, good and bad. based on a certain arrogance on his part. He wanted to buy it just because he could and in doing so prove to himself that he was richer than me. The incident made me reflect on the whole concept of how luxury goods are marketed. It is not good enough to just focus on the quality of a product. A story must be told, and my story and enthusiasm for this watch clearly rubbed off. The incident also made me think about how we feel about certain items. A watch is a personal item – it touches the body. It has travelled with you and offers memories, good and bad. A watch can be a gift from someone or can be gifted and passed on to someone you care about. I know many will not understand my reasoning to turn down such easy money, but the transaction just didn’t feel right even though I would have happily sold this watch, for less, to someone who I knew would appreciate it. Anyway, this incident just adds another interesting story for me to this particular watch.
Life
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o. N e l i f o r P Insider
sure they get my support when needed and vice-versa. By creating a solid team spirit environment, we surpass all the challenges and deliver. Finally, details, details, details that’s what makes a huge difference. Please share the most memorable experience you’ve had working at Bin Faqeeh. The Layan Launch for sure, we had a great challenge bringing an experience to Bahrain that was never done before. There was a lot of laughter, a few tears and feelings of hopelessness when the site was damaged in a rainstorm less than 48 hours before the launch. But the team spirit that day was amazing, we managed to pull it all together. On the business side, seeing our guests have a great time and seeing results via media, was obviously a great satisfaction.
Nadia Bouslama Head of Marketing, Bin Faqeeh
W
hat do you enjoy most about PR & Marketing? I enjoy the human aspect of marketing; in today’s digital world we are losing direct interaction with people. Marketing is one of the rare disciplines in business that is all about understanding people, their needs their likings, behavior etc. I am a people person and this aspect has to be part of my daily activities. Creativity and diversity in marketing and PR, are two more exciting elements that keep me going. I start my day by asking myself how can I do things differently in an 50
Gulf Insider May 2016
unusual manner and in a better way. What are three skills or characteristics that helped you to excel in your career? Honesty - I don’t waste people’s time, I am very clear on what I expect from the people I work with. Team work is also essential to meTalent is not enough for me. It is essential for me to work with people that are team players. We should all work towards the same objective. I stand up for the people I work with, whether they are from my team or service suppliers, and I make
What are some of the challenges that your job entails? How do you overcome them? Speed is a challenge since we work in an intense environment. I manage to overcome this by having a very solid, professional team and by developing a network of service providers that bring in their added value and deliver the level of quality requested. What is your ultimate career goal and how do you plan on getting there? My mid-term objective is to become a benchmark in the marketing industry in Bahrain and the GCC. In the longterm I would love to be able to pass down my knowledge and expertise to the following generations and become a consultant. Hobbies & Interests: Water sports, traveling and learning about different cultures. Favourite Quote: “It takes as much energy to wish as it does to plan.” Eleanor Roosevelt Books Recommended by Nadia: Quotes from Powerful Women about Power by Dr. Leigh-Davis.
Life
3000 Nights – A film by Mai Masri
The story of a young Palestinian schoolteacher who gives birth to her son in an Israeli prison where she fights to protect him, survive and maintain hope, will be released in Bahrain this month.
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ayal, a newlywed Palestinian school teacher, is arrested after being falsely accused and sentenced to 8 years of prison. She is transferred to a high security Israeli women’s prison where she encounters a terrifying world in which Palestinian political prisoners are incarcerated with Israeli criminal inmates. When she discovers she is pregnant, the prison director pressures her to abort the baby and spy on the Palestinian inmates. Resilient, and still in chains, Layal gives birth to a baby boy. Through her struggle to raise her son behind bars, and her relationship with the other prisoners, she manages to find a sense of hope and a meaning to her life. Prison conditions deteriorate and the Palestinian prisoners decide to strike. The prison director warns her against joining the rebellion and threatens to take her son away. In a moment of truth, Layal is forced to make a choice that will forever change her life. 3000 Nights is inspired by the true stories of the Palestinian children born in Israeli prisons and the young women coming of age behind bars. It is first and foremost a human story of a young mother, who through her struggle to raise her child in detention and her relationship with the imprisoned women around her, finds the space to reflect, develop and stand up for what she believes in. The idea for 3000 Nights began several years ago when director, Mai Masri was shooting a film in her hometown, Nablus during the first intifada where she met a young Palestinian woman who had given birth to a baby boy in an Israeli prison, “I was profoundly touched to hear how she had delivered her child in chains and how she raised him together with the other women prisoners, only to be separated from him by force. I felt that this was a story that had to be told”.
3000 Nights will be released this month. 52
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Opinion
Each month we will be putting a legal problem to legal consultant Ali Al Jabal to answer. A full service law firm for Bahrain and the Sultanate of Oman, founded in 1995 by
This month- Hit & Run Dilemma Problem: I was recently involved in a hit and run accident on the highway whilst driving. I was hit by a car that bore a Saudi license plate. Unfortunately, the driver sped off and I couldn’t catch the numbers on his plate! I contacted the traffic authorities and a case was filed. However, they were unable to apprehend the suspect. Therefore, who will pay for the damage to my car and the treatment for the injuries I sustained? What would have happened if the accident had been more than just a hit and run?
Mr Ali Al Jabal
What if I had been seriously injured by the accident? Answer: As you were unable to supply the traffic authorities with a licenses plate and if the Traffic authorities were unable to secure the identity of the suspect. Your first step of protocol should be to submit your traffic report to both your insurance company and the Compensation Fund for Victims of Vehicle Accidents (CFVVA). Furthermore, your medical report should also be sent to the (CFVVA)
to request your entitlement of compensation for the physical injury sustained as stated under the law. Regarding the vehicle damage as a result of the accident, if your insurance has full coverage for all damages, including unknown identity, you can make a successful claim
To contact Ali Al Jabal at Al Jabal Consultancy Attorneys and Legal Consultants Tel: +973 17 530 400 E-mail: aljabal@aljaballaw.com www.aljaballaw.com
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The Best of Bahrain BAHRAIN BD2 KSA SR20 KUWAIT KD2 OMAN RO2 QATAR QR20 UAE DHS20
Gulf Insider May 2016
FASHION & BEAUTY
STYLISH SUMMERS
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Life
The landmark InterContinental Regency Bahrain, hosted its first exclusive and luxurious Wedding Fair–The InterContinental World of Weddings.
business Events Tamkeen Chief Executive Officer Dr. Ebrahim Janahi met the Chief Executive of the National Authority for Qualifications and Quality Assurance of Education and Training (QQA), Dr. Jawaher Al Mudhahki, to discuss partnership and future projects that support the growth of the Kingdom’s economy. Bahrain British Business Forum (BBBF) Holds AGM Attended by H.E. Simon Martin CMG, British Ambassador
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Gulf Insider May 2016
Life
HE Dr. Abdul Hussain bin Ali Mirza, Minister of Energy, patronised the meeting of BBBF’s Special Interest Group (‘’SIG’’) for Oil, Gas and Energy sector professionals last month.
Exclusive Preview of S Hotel Earth Environmental Services W.L.L. R&D Centre opens in Bahrain
Gulf Insider May 2016
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Life
HH Shaikha Hessa bint Khalifa Al Khalifa and INJAZ Bahrain” Presents Youths with Entrepreneurship Opportunities through the Young CEOs Program Tamkeen Launches “Start Your Business” Initiative for Start Up Entrepreneurs
INJAZ Bahrain was recognized for Outstanding Achievements in the areas of compliance, quality, and collaboration, at the annual awards events recently held by INJAZ Al-Arab in Abu Dhabi.
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Gulf Insider May 2016
Life
Opening of Kooheji Jewellery in Moda Mall GIB celebrates its 40th anniversary by donating 40% of its treasury net income on the 40th day of its 40th year to charities in Bahrain and Saudi Arabia
Gulf Insider May 2016
57
Last Word
BABYSITTING …there goes your life!
T
ime is precious. We can’t go back to being two years younger, or not knowing something that scares us once we’ve learned it. Life is a rare commodity. And yet, most people can’t stop wasting it. I don’t mean the kind of loafing where you look back on an afternoon or a weekend and think, “What did I do?” in a haze of laziness, but I mean that they need to be constantly occupied. People no longer have an internal narrative. They need constant distraction or they feel empty and lost. What it amounts to is babysitting. You go to school all day, where they dole out knowledge in spoonfuls; whoever writes it all down, and then writes all of it down again on the test, wins. You could learn it in a lot less time. But then what would you do all day? It’s the same way with jobs. Some people have real jobs, like doctors, police, firefights. Even if they spend a lot of their time waiting, they have to perform and get it right. Most jobs however are redundant. You are doing the work of 1/5 of a person, and spending a lot of time in meetings. Why not go home early instead? Because you would at home trying to
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By Brett Stevens think of something to do. And again most people don’t want that. They don’t want that because they don’t have an internal narrative. They aren’t driven to accomplish; they serve their own pleasures and beyond that, do nothing. I heard about a man who invented an ultra-efficient shop. You could breeze
Every day is a trade with death. When we trade for something good, our souls fill up with enjoyment. in, pick your selection quickly from a logical arrangement, and then checkout with a wave and be done. He went bankrupt. People don’t shop because they need things, but because they need something to do. When they’re at home, people don’t invent either. They can follow instructions
in magazines and make things, or imitate something their friends did. They play video games, they go on the internet, they watch TV. Babysitting fills our time. It makes us uneasy, because we’re aware that this time is departing like water down a bathtub drain. And yet, few of us know what to do with ourselves. So it’s off to the bar. We like to be free, and we’re doing exactly what we want to. Which is… uh… well, couldn’t figure it out, so it’s the same stuff as usual, drawing out every activity to fill our time so we don’t feel empty. But even that doesn’t work, because the answer isn’t to fill our time; it’s to dedicate our time. Every day is a trade with death. When we trade for something good, our souls fill up with enjoyment, and we remember our preferences. Every day we ‘dedicate’ only to our pleasures is a day in slavery. This doesn’t seem intuitive. In fact, it would seem to be the reverse: “enjoy life, live for yourself and only yourself.” But it turns out that we are not islands and we need to feel a sense of purpose. That can only come from bonding with our world, coming to love it as ourselves, and acting on it to make our mark, however small.
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