qatartoday

OCTOBER 2010

AUDI: A DRIVE WITHBEAUTIES

“SPEAKING OUT FOR THOSEWHO CANNOT BE HEARD”ROXANA SABERI

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2 Qatar Today october 10

october 2010

inside issue

Qatar is never going to have a flourishing mass tourist industry. The country is too small and its tourist attractions too few. But the burgeoning economy, prolif-eration of luxury hotels and conference facilities under construction mean that MICE activity is on the rise in Doha. Qatar Today gets the public and private sectors’ thoughts on the future of business tourism here.

You Messed up -- AdMit itA brand paradox: If organisations want reputations without tarnish, they need to acknowledge their mistakes.

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Reinventing ouR CitiesAs the world addresses the potentially catastrophic consequences of climate change over the coming years, tackling cities’ carbon emissions will be a decisive factor. Today, nearly 80% of carbon di-oxide emissions emanate from cities and the problem is expected to become more acute as the population in the MENA region becomes more urbanised.

ChAMpioning A CAuseHSBC is helping address the climate issue by sending its employees to assist various environmental organisations.

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october 10 Qatar Today 3

october 2010

inside issue

A dRive with beAuties fRoM AudiA test drive with the new models – the A8 L 3.0 TDI Quattro, the A8 L 3.0 TFSI Quattro, the A8 L 4.2 TDI Quattro, the A8 L 4.2 FSI Quattro and the A8 L W12 Quattro – from Salzburg to Munich

A toniC foR the tRoops A business will stand or fall according to the quality – and happiness – of its staff. That, certainly, is what specialist Human Resources company Mercer seems to think.

A ConteMpoRARY look At islAMiC ARtAs part the events planned for the Arab Cultural Capital, Dubai-based Christie’s hosted a public art exhibition. We speak to Will Lawrie, Specialist of Modern and Contemporary Arab & Iranian Art about some basics of the auction.

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News Bites.................................08Realty Check..............................14O&G Overview..........................16

Bank Notes.................................18Arab Snippets.............................20World View.................................22

Braking News.............................72Market Watch..............................80Doha Diary..................................85

Ò speAking out foR those who CAnnot be heARdÓIranian-American journalist Roxana Saberi visits her alma mater’s campus in Qatar to speak about her book, Between Two Worlds: My Life and Captivity in Iran. Qatar Today caught up with her...

inside: CgC nokiA pRoduCt booklet

RegulARs

foR the love of the gAMeThat Qataris love their football is not in doubt, but what makes a high-profile local buy a low-profile Spanish club? Qatar Today blows the whistle.

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Qatar Today introduces Graham Wolverson, an Independent Financial Advisor with over 20 years’ experience dealing with expatriates’ financial concerns. He casts his eye over some of our readers' queries.

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Publisher & editor-in-chiefYousuf JAsseM Al

dARwish

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Address all your correspondence to Qatar Today, oryx Advertising co WLL, P.o. box 3272; Doha-Qatar. tel:(+974) 44672139, 44550983, 44671173, 44667584, Fax:(+974)44550982, email: [email protected]. All rights reserved. no part of this publication may be reproduced without the written permission of the publisher. the publisher does not accept responsibility for advertising contents. Licensing/republishing Qt content: to obtain permission for text syndication in books, newsletters, magazines, newspapers and web or to use images/pictures carried in Qatar Today, please contact our syndication & licensing department on the numbers given above. Permission is also required to photocopy a Qt article for classroom use, course packs, business or general use. custom reprints: Any of the previously published article/s to be used as stand-alone pieces can be reprinted by us on special request. the reprint cost is based on the length of the article and the quantity ordered. contact our custom publishing division on the numbers given above for more information. Previous issues (FebrUAry 2004 onwards) of Qatar Today are available for sale, contact our Library department. to subscribe to Qatar Today call our subscription department on the numbers given above.

FroM the DeSk

VoLUMe 36 iSSUe 10 october 2010

At the recent FIFA inspection, the 2022 Bid authorities dazzled with the “first of its kind” cooling technology and the “exceptional” stadium de-signs. But the inspectors speculated on how a small country like Qatar would be able to handle an event of this magnitude. Football enthusiasts tend to get carried away and be unruly, so how would the country score when large numbers of them turn up for the World Cup? Good question. But to doubt the country’s ability to achieve what has been promised has often proved to be imprudent. Remember the roads before the Asian Games and how it was all completed just in time? Another promise made was on the FIFA hospitality requirements. Qatar needs 60,000 hotel rooms and the Bid leaders have promised that the figures would be met and in time.

That makes us reflect, does Qatar’s tourism industry foresee such a need?

When in an earlier interview, the Qatar Tourism Authority Chairman Ahmed Al-Nuaimi had said that Qatar was not interested in mass tour-ism, we were positive that the country had planned its strategies wisely.

What, then, is the country’s vision on its tourism sector? Are we relying on the MICE segment to establish a niche?

We deliberate on this in our cover story, which gets the public and private sectors’ thoughts on the future of business tourism here.

Iranian-American journalist Roxana Saberi was here to speak her book, Between Two Worlds: My Life and Captivity in Iran. Qatar Today caught up with her for an exclusive interview.

Climate champions of HSBC, Christie’s advent, Al Jazeera Children’s new production – Salahuddin animation series, the story behind Málaga – the first top flight Spanish outfit to be owned by a native of this region... there’s enough to chew over for the rest of the month.

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The winning number of ThelasT QT poll is 55739275

QAtAr toDAy inViteSreADerSÕ FeeDbAck

Share your views on the magazine or any issue connected to Qatar. one lucky reader will win an exquisite Mont blanc writing instrument.

Write to:the editor, Qatar today, Po box 3272, Doha.

Fax: (+974) 44550982, email: [email protected]

Qatar Today reserves the right to edit and publish the correspondence. Views and opinions expressed in the published letters may not necessarily be the

publicationÕ s views and opinions.

Power of phonesThe cover story on smartphones made an interesting read. It is amazing how these smartphones have come a long way since their creation. With people turning tech-savvy by the day, mo-biles now form an eminent part of our busy world. It would be a scary sce-nario, the day mobiles stop function-ing. What the future holds for these devices is something we have to wait and watch out for.

Zeeshan Sheikh

Loving the jobI couldnÕ t agree more with the cover story of the September issue of Qatar Today. The power of mobiles has been well captured in the article. Now ev-erything can be accessed through our fingertips! Even the article on Caro-line Drees was interesting. ItÕ s nice to read about someone who loves her job. Her passion was well-reflected through the write-up.

Sharon DÕ souza

A healthy careerQatar Today has always managed to carry well-researched and informative articles. The cover story of every issue touches upon different topics. The ar-ticle on smartphones was an excellent piece. I also enjoy reading the articles under the Ô Bottom LineÕ section. They have managed to bring out aspects of

the work life which any employee can relate to. For instance the article on career well-being was a perfect take on how career affects health.

Ali Zafar

News with viewsI have always enjoyed reading Qatar Today as it provides you with every kind of news. From current happen-ings in the city to picture spreads of interesting events that happened around the world Ð the reader is kept informed. The global scenario is also captured beautifully. The team at Qa-tar Today deserves kudos, for treat-ing its readers to relevant information, every month.

Philip Chang

Art with pearlsQatar Today has always managed to keep me engaged, thanks to its vari-ety of articles. The Ô Doha DiaryÕ sec-tion is my favourite as it keeps me informed about what is going on in the city. This section in the Septem-ber issue carried an article on Patric Rozario, the creator of PearlAppetite. The combination of art and pearls is simply fascinating. Pearls have been a significant part in Qatar’s culture and such art deserves encourage-ment in the country.

Sarah Mitchell

...letters [email protected]

Check out select articles of Qatar Today onwww.explore-qatar.com

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newsbites


54.Ò SPeAkinG oUt For thoSe Who cAnnot be heArDÓ

the Emir His Highness Sheikh Hamad bin Khalifa Al-Thani said the world economic crisis had af-fected the international communi-

ty’s efforts to realise the objectives of the Millennium Development Goals (MDGs) in poor countries.

“Development assistance to those countries dropped, while foreign direct investment decreased, a matter that had negative ramifications on the develop-ment programmes and policies, especial-ly in the fields of education, health and ef-forts to fight poverty and hunger, said His Highness the Emir during the Summit on MDGs, held on the sidelines of the 65th session of the UN General Assembly.

The summit was attended by HH

Sheikha Mozah bint Nasser Al-Missned as well as the Prime Minister and Foreign Minister HE Sheikh Hamad bin Jassem bin Jabor Al-Thani.

The Emir pointed out that the realisation of the objectives of the MDGs required both parties to carry out their responsibilities.

“Developing countries are required to adopt comprehensive national strate-gies and to promote good governance, fight corruption and encourage economic development and create an environment that attracts foreign direct investment.These countries should work towards the involvement of civil society organi-sations and the private sector in such programmes,” he said.

SheikhA MozAh hoStS Un Meet

eMir: criSiS AFFecteD reALiSAtion oF MDGS

her Highness Sheikha Mozah bint Nasser Al-Missned hosted a meet-ing at Qatar’s mission in New York, recognising the passing of a

recent UN resolution protecting the right to education in emergency situations, and to take the next step of identifying the gaps and challenges that still remain.

The resolution, which was introduced by Qatar and passed in July this year by the UN General Assembly, was the result of the work of six sponsoring countries – Benin, Bosnia and Herzegovina, Costa Rica, Nicaragua, Norway and Qatar – as well as a host of UN agencies and non-governmental organisations. A total of 38 countries became co-sponsors, showing broad support for the resolution. Sheikha Mozah acknowledged the efforts and te-

nacity of the organisations represented at the meeting and urged continued attention on the issue of safeguarding education in times of conflict and insecurity.

“Despite its significance, the resolu-tion is only a first step to a fuller provi-sion of education during emergencies. We must work together to build upon the achievements of the resolution,” she said.

Special Representative of the Secretary General for Children and Armed Con-flict, Radhika Coomaraswamy praised Qatar’s work for the resolution, in particu-lar the personal involvement of Sheikha Mozah.

“Her Highness brings a lot of energy, commitment and passion to this issue of the protection of education. She has energised all of us,” Coomaraswamy said.

The Emir, His Highness Sheikh Hamad bin Khalifa Al-Thani

Her Highness Sheikha Mozah bint Nasser Al-Missned

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news bites


the ‘Humanisation of Cities of To-morrow’ a summit held here recently brought together prominent pundits from all corners of the globe.

The Summit tackled the horizons of set-ting up environmentally-friendly, truly hu-manised cities of tomorrow, which achieve the high ends of development while observing the environment.

The Summit opened its first day with a speech by His Excellency Abdul Rah-man bin Khalifa Al-Thani, Minister of Municipality and Urban Planning.

“We wish your conference the best of luck, as it highlights an issue of univer-sal significance and a trend which un-covers a region-wide awareness of the environmental challenge.”

Ian Lyne, Project Manager at Ori-ental Consultants Ltd gave a keynote address on Qatar ‘s National Mas-ter Plan, in which he examined turn-ing the country’s vision into reality. Two panels discussions were held. The first titled Economic development: Ensur-ing financial stability for the cities of to-morrow, tackled the means of establishing recognised global business hub that en-sure sustainable economic development. The second panel tackled environmen-tal development – the Preservation and Protection of the Natural Environment. Two more discussions followed on sus-tainable development in construction and the elevation of the human potential in cities.

DohA SUMMit DeMArcAteS Ô citieS oF toMorroWÕ

A cALL For hoLiStic eDUcAtion reForMThe Ministerial Colloquium on Quality of Education in the Arab World, held in Doha recently, called for a common vision for education reform, that is ho-listic and attuned to the demands of the fast growing world.

“Quality education is at the forefront of priorities in the Arab world, and the ultimate goal we seek to turn into real-ity,” said HE Saad bin Ibrahim Al-Mah-moud, Minister of Education and High-er Education and Secretary General of Supreme Education Council, Qatar.

The Minister urged experts to pay at-tention to quality education that is ho-

listic, aligned to international standards and based on accountability, diversity, gender equity and respect for others.

Steen Lau Jorgensen, Human Devel-opment Sector Director, World Bank-MENA Region outlined the challenges Arab education systems are facing, namely raising student achievement in basic education; expanding second-ary and tertiary education to address implications of the youth bulge while improving general quality; and respond-ing to evolving labour market driven by forces in the greater global knowledge economy.’

The Qatar Chamber of Com-merce and Industry’s (QCCI) Doha 2013 Bid Committee travelled to Paris to present the chamber’s proposal to host the 8th World Chambers Congress in Doha in 2013.

Organised by the World Cham-bers Federation, the Congress is the world’s signature gathering of inter-national businesspeople and a valu-able opportunity to exchange ideas, best practices and innovations, pro-mote networking efforts between the chambers of commerce and draw on their experiences for the benefit of future business and commerce.

The delegation, lead by QCCI Chairman Sheikh Khalifa bin Jassim Al-Thani, highlighted the depth of government and industry support for the Doha 2013 bid.

In a presentation to the World Chambers Federation Congress Se-lection Committee, the Doha 2013 Committee highlighted Qatar’s po-sition as a regional media hub, the extraordinary facilities and infra-structure in Doha, and Qatar’s role in using trade and business to bring people together to promote dialogue and understanding.

Doha’s bid to host the 8th World Chambers Congress is another mile-stone in Qatar’s march of progress embedded in Qatar National Vision 2030 to promote Qatar’s leading po-sition in the region and all over the world, the QCCI said.

Qcci biDS For 2013 WorLD chAMberS conGreSS

A panel discussion at the Summit

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qatar has a mountain of challenges to overcome before it can meet the FIFA requirements to host World Cup 2022. But it has the

will and support of its leaders to meet all of them, which was evident when a six-member FIFA inspection team, led by the President of the Chilean Football Federa-tion Harold Mayne-Nicholls, inspected the Bid proposal.

Climate, lack of infrastructure, cultural barriers, hotel rooms and visa restric-tions were but some of the challenges that the 70-odd foreign media, who had gathered for the FIFA Inspector’s opening

statement, probed about. All of them were promised to be ad-

dressed, climate by the latest cooling technology made available in the stadia, a metro plan to take care of the infra-structure backlog, cultural barriers to be overlooked keeping in mind the visitors’ sentiments, hotel rooms constructed and visa barriers to be handled as per fan re-quirements. HE Sheikh Mohammed bin Hamad Al-Thani, Chairman of the Qa-tar 2022 Bid, in his address to the me-dia said, “We have always been honest about our challenges and how we will be meeting them.”

When the FiFA inSPectorS cAMe cALLinG...

QAtArÕ S USPQatar’s Bid showcases a $4 billion (QR14.56 billion) plan to build nine stadiums and renovate three others, all with the new cooling system, as well as some of the $42.9 billion (QR156.58 bil-lion) in infrastructure upgrades including a new airport, metro system, high-speed rail network, and more hotel rooms. The Bid claims that the country will have a ‘Compact, Cool and Connect-ed’ Cup. And being compact, the organisers guarantee that visi-tors could see as many as three games in a day since all stadiums will be no further than an hourÕ s travel apart. And when itÕ s over, Qatar will break down several stadiums and donate 170,000 seats to developing countries to avoid leaving behind any white elephants.


news bites

The FIFA team inspecting a prototype stadium showcasing Qatar’s environment-friendly cooling technologies

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The FIFA team visited Qatari Diar, to view presentations on Qatar’s development plans for the capital city of Doha, which includes a state-of-the art high-speed rail and metro system to be completed before the World Cup

HE Sheikh Mohammed bin Hamad Al-Thani, Chairman of the Qatar 2022 Bid with

Myane-Nicholls

StAr AMbASSADorQatar 2022 Bid Committee unveiled legendary French footballer Zinedine Zidane as the newest bid ambassador. Zidane appeared at a press conference at the Four Sea-sons Hotel in Doha, flanked by Qatar 2022 Bid CEO Has-san Al-Thawadi and other bid leaders, and announced his firm support to Qatar’s bid and their goals to bring the world’s greatest sporting event to the Middle East for the first time.Ò Football is for everyone,Ó Zidane said. Ò When I think of all the youth of the Middle East, what they’re missing is an event like the World Cup. We had [the World Cup] in Africa and now it is time for the Middle East.”Zinedine Zidane with Hassan Al-Thawadi,

Head of Qatar 2022 Bid

Qatar 2022 Technical Director Yasir Al-Jamal (R) stands with Head of FIFA Inspection Team, Harold Mayne-Nich-

olls (L) in front of a model of the proposed stadium at QU


news bites

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ReAltYCheCk

Dohaland won the Arabian Business ‘Special Corporate Social Responsibility (CSR) Award’ at the inaugural Arabian

Business Qatar Awards 2010 recently.The award was in recognition of the

company’s outstanding and continu-ing social contributions to the Qatari community.

Dohaland ran various CSR initiatives aimed at enriching lives, fostering in-novation, promoting sustainability and preserving Qatari heritage, according to the spokesperson. Dohaland’s initial successful CSR initiatives involved ac-tivities to inspire the younger generation

with environmental awareness. Using art as a catalyst, the Company engaged 58 schools with over 3,000 children draw-ing, sketching, painting their ideas of the city of their dreams.

Another CSR commitment was the Fu-ture Affiliate Club, initiated to open chan-nels of communication with the youth, of-fering them the prospect of working with the Company, providing an opportunity to prepare for their future roles as Qatari leaders.

Qatari Diar Vinci Construction (QDVC) has been awarded the contract to design and build an underground car park and landscaped gardens fronting the Sheraton Doha Hotel in the financial and diplomatic district of West Bay.

The contract, worth QR1.22 billion in-cludes the construction of a car park with around 2,000 spaces for the hotel’s guests and the general public and will be fitted

with an electronic system to guide drivers to vacant spaces – a first in Qatar. The work will include construction of a maintenance depot and command centre for the future Doha light rail system, as well as three electricity substations, and landscaping of an area measuring 73,000 square metres, including fountains, basins, play areas and restaurants.

Also included will be the construction of

a cut-and-cover tunnel between the car park and the Doha Convention Centre, which is under construction.

Qatari Diar holds a 51% stake in QDVC, a Qatari shareholding company, with Vinci Construction Grands Projets of France hold-ing 49%. The company is working on other major projects in Qatar such as car parks, the Light Rail Transit System in Lusail and the Qatar Bahrain Causeway.

The Emirates Green Building Coun-cil, Qatar Green Building Council and Jordan Green Building Council have agreed to group Green Buildings Councils in the region to form Middle East Green Building Councils Network to be known as ME GBC Network.

The objective of this initiative, ac-cording to the authorities, is to pro-vide a regional platform for serving professionals and engineering com-munity involved with designing and

executing green buildings in the Middle East, enhance cooperation between Green Building Councils (GBC) in the region; promote and sup-port the establishment of new GBCs in other countries within the Middle East and to present a coherent voice representing the region at the World Green Building Council (WGBC).

The ME GBC Network will be led by the Emirates Green Building Council (EGBC), the only GBC in the Middle

East that has the status of ‘Estab-lished Council’ by the World Green Building Council (WGBC).

Qatar Green Building Council and Jordan Green Building Council which were established in 2009 are affiliated with the WGBC as ‘Prospective Coun-cil’ along with Saudi GBC, Palestine GBC and Morocco GBC. Other GBCs are being established in the region in-clude those in Egypt, Syria, Oman and Lebanon.

MiDDLe eASt Green bUiLDinG coUnciLS netWork ForMeD

UnDerGroUnD cAr PArk For WeSt bAy

DohALAnDÕ S cSr ActiVitieS recoGniSeD

24.reinVentinG oUr citieS

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o&goveRview

16 Qatar Today october10

50.A tonic For the trooPS

t he $1billion (QR3.65 billion) Jetty Boil-Off Gas Project, im-plemented by Qatargas and its partners, which is expected to be

completed by late 2013 or early 2014, aims to collect the gas that boils dur-ing the loading of LNG tankers, which is now being flared. The technology is

being provided by GE. According to Bill R Alashqar, GE Infrastructure Account Executive (QP & subsidiar-ies), the new GE technology helps collects the boil-off gas and bring it to a central facility, where it will be compressed and sent back to the LNG trains. It can later be used as fuel gas or converted into LNG.

“The project will help significantly re-duce emissions by capturing boil-off gas, which is now being flared. Boil-off gas increases emissions and leads to signifi-cant amounts of LNG being wasted. Since Qatar is the world’s largest liquefied natu-ral gas producer, the project benefits are immense,” says Alashqar.

The Jetty Boil-Off Gas Project is being implemented by Qatargas and partners. Qatar has already awarded the engineer-ing, procurement, and construction man-agement (EPCM) contract to US firm Fluor Transworld. Alashqar said the proj-ect would help Qatar meet the Ministry of

Environment and international standards on emission and improve energy use.

“Qatar will be pioneering the tech-nology. GE Oil & Gas is committed to working with our Qatari partners to bring in new technologies that will serve Qa-tar. We will continue to create value for Qatar’s LNG industry,” Alashqar said.

The compressors will be manufactured and tested at the GE Oil & Gas facilities in Florence and Massa, Italy, he said.

Environment and international standards

QP UnVeiLS neW WebSite Qatar Petroleum (QP) recently unveiled its new website, providing visi-tors with updated infor-mation on the company’s business activities, supply management system, available career opportunities as well as the latest news on the company’s operations.

“QP’s new website strongly reflects our firm commitment to transparency in our operations, and its modern corporate design reaf-firms our thrust to always keep up-to-date with the latest trends and rapid developments in information tech-nology,” said HE the Deputy Premier Abdullah bin Hamad Al-Attiyah.

The project was an initiative of QP’s Higher IT Committee, chaired by HE Dr Mohamed bin Saleh Al-Sada, Minister of State for Energy and Industry, and was implemented by the Media Section of QP’s Public Relations & Communications De-partment with local web developers, Gulf Interactive.

QAtAr Soon to AttAin MiLeStone LnG ProDUctionWith the completion of two super trains (7.8 million tonnes capacity each) at Qatar-gas, Qatar will soon have a liquified natural gas (LNG) production capacity of 77 mil-lion tonnes per year (tpy) and take a van-tage position in the global energy stage as the world’s largest LNG producer.

Qatar’s two LNG producers – Qatargas and RasGas – currently operate LNG facili-ties with a combined production capacity in excess of 55 million tpy. Some 14 LNG trains will be in operation; seven each at

Qatargas and RasGas.Recently, Deputy Premier HE Abdullah

bin Hamad Al-Attiyah, also the Minister of Energy and Industry, announced the forma-tion of a high-level task force for the suc-cessful conduct of the “77Mta” event at Ras Laffan on December 13.

HE Al-Attiyah said: “Our country will certainly take centre position on the world energy stage as the world’s largest LNG pro-ducer. I am very proud of this achievement and look forward to the celebration.”

neW technoLoGy to MiniMiSe GAS FLArinG

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bAnknotes 58.For the LoVe oF

the GAMe

ibQ GrAntS SchoLArShiPS to QAtAr StUDentS

international Bank of Qatar (IBQ) presented academic scholarships to Qatari stu-dents enrolled at univer-

sity which according to officials Ò is in parallel to the permanent annual Qatari Development Programme which has been running at the Bank for three consecutive years.Ó The schol-arships were offered to ten stu-dents from Qatar University, Col-lege of North Atlantic College and Stenden University, enrolling in majors of accounting, legal stud-ies, IT and statistics which are critical fields for Qataris to gain expertise in.

IBQ, Managing Director, George Nasra said, “IBQ is com-mitted to the recruitment of new Qatari staff in our aim to be-come the ‘Employer of Choice’ in Qatar. We strongly believe that a knowledge-based econo-my is essential for success and therefore we strongly invest in the academic welfare of the country.Ó

An over-capitalised and crowded banking industry in Qatar makes the sector that was helped out by the government last year ripe for mergers, say analysts.

“I think consolidation makes sense,” said Rami Sidani, Head of Middle East and North Africa investment at Schrod-ers in Dubai. “There is not enough room for all these banks to be in the Qatari market.”

Financially most banks in Qatar are in good health after the government in-tervention last year to prop up the sector. The country’s sovereign wealth fund, the Qatar Investment Authority, now owns between 5% and 10% of most of the lend-ers. But analysts say there are too many banks, most flush with cash – in a country that is home to 1.7 million people.

“Many of the banks in the [Qatari] market are over-capitalised, which means they need a lot of lending opportunities in

order to achieve a good return on equity which is today not possible,” said Sidani. “It’s hard to see these banks reduce their capital base and expansion beyond Qatar is going to be tricky,” he added.

There are some signs that a wave of mergers might not be too far away. Lend-ers Al Khaliji and International Bank of Qatar, have said they are currently in merger talks.

The government, which is currently looking at ways of shaking up the bank-ing sector according to Qatari banking sources, has already taken steps to mop up excess liquidity among local lenders. In June, the country’s central bank is-sued $2.8 billion worth of local currency bonds – aimed at developing Qatar’s debt markets. Sofia El-Boury, a Banking Ana-lyst at Shuaa Capital in Dubai, said any consolidation would most likely happen in the Islamic Banking sector.

Ò tiMe For MerGerS in the bAnkinG inDUStryÓ

VALUe PArtnerS hiGhLiGht StrAteGieS For riSk WeiGhteD ASSetS reDUctionValue Partners (VP), a management con-sultancy firm in the Middle East, has identified that effective credit risk man-agement and risk weighted assets (RWA) reduction can be used as a key strategy to optimise invested capital.

VP, Senior Manager, Roland Topic said, “As GCC banks implement Basel II regulations, competition and pressure on profit mounts. Thus, the need for effec-tive implementation of a RWA strategy becomes critical. Banking institutions can create value for their stakeholders by en-

hancing their risk management strategy.” VP recommends three levers for an ef-

fective RWA reduction programme. First is focusing on collateralisation of debt or increasing the value of the collateral as it reduces the loss in case of default due to a higher rate of recovery.

Second is switching and amending product features to lower RWA products. And third is to support clients in improv-ing their credit rating that reduces the probability of default and consequently the RWA.

IBQ MD George Nasra (centre) with Qatari scholarship

students.

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ARAbsnippets 64.chAMPioninG

A cAUSe

Growing nervousness over risks of war with Iran over its nuclear programme will boost US arms sales in the Arab states, shrinking opportunities for European suppliers with big ambitions in the top oil-exporting region.

US plans to sell Saudi Arabia up to $60 billion in aircraft, helicopters and other arms could lead to the six Gulf Arab states spending as much as $100 billion in the next few years to overhaul their armed forces.

Unease on the Arab side of the wa-terway about the prospect of retaliatory strikes in the event of war is also drawing the countries, closer together. Their top US ally looks set to benefit most.

Riyadh and Washington, which 70 years ago formed a strategic relationship

based on oil for security, share concerns over Iran’s nuclear program, fearing Teh-ran wants to develop nuclear weapons, a charge Iran charge denies.

The arms deal, which Saudi Arabia yet has to confirm, would help Washington’s key Gulf Arab ally to counter Iran’s re-gional influence by giving it superiority over Iran’s air force, security experts say.

The US Congress also needs to ap-prove the potentially record deal, which would benefit US military sup-pliers such as Boeing and United Technologies Corp.

US and Israel have not ruled out military strikes to curb Iran, a trou-bling prospect for Gulf states fear-ing they could become target of retaliatory strikes.

Though inflationary pressures within oil producing Gulf nations have eased sig-nificantly, rising global food prices are becoming a concern among the region’s central banks.

Inflation in the world’s top oil exporting region started to pick up again this year helped by generous government spend-ing, but price rises in coming months are expected to stay well below the record double digit peaks seen in 2008, central bankers said at a meeting of Gulf central bankers in Kuwait.

In his opening remarks, Sheikh Salem Abdul Aziz al Sabah said: “At this stage it

is necessary to pay attention especially to signs of a rise in food prices internation-ally.” He later added that inflation could edge up to 4.5 percent towards the end of 2010. Annual inflation in the world’s fourth largest oil exporter hit a 13 month high of 4.0 percent in July. Kuwait’s econ-omy should rebound strongly to grow by 4-5 percent this year, Sheikh Salem said, after a 4.6 percent drop in 2009.

Saudi Arabia’s central bank has also voiced its discomfort about rising infla-tion in the region’s biggest economy, which at 6.1 percent is the highest rate in the Gulf.

ArAb coMPAnieS to inVeSt $800Mn in rUSSiA

UAE investors agreed to spend $800 million on new projects in Russia amid a Russian drive to boost commercial ties with Arab countries.

Gulftainer Company, a port op-erator in Sharjah, and Dubai-based Damac Properties recently signed investment accords with the finan-cial arm of Russian Technologies Corp, a state holding of more than 500 companies.

Gulftainer will invest $500 mil-lion in infrastructure, including ports and logistics centres, and Damac will invest $300 million in real es-tate projects, including facilities in Sochi for the 2014 Winter Olympics, said Valery Kartavtsev, a Russian Technologies spokesman.

Russia had long allied with the Arab countries in areas ranging from military to technology and cul-ture, but that dwindled over the last decades due to a changing global balance of power.

Russia’s new foreign policy doctrine calls for domestic com-panies to expand cooperation with the Arab world to foster pragmatic, business- oriented relations to lure investment and expertise that can help modernise the economy.

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globAl leAdeRs pledge to end poveRtY

woRld view

Chancellor of Germany Angela Merkel delivers her address on September 21, 2010 at the Millennium Development Goals Summit at the United Nations in New York.

CouRAge French amputee and swimmer Philippe

Croizon poses with his mother on Septem-ber 20, 2010 in Wissant, northern France

after he succeeded his attempt to swim the English Channel. Croizon, a 42-year-old former metalworker swam across the

Channel 16 years after losing all his limbs in an electrical accident.

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islAnd in disputeA Hong Kong activist stands on a boat as it gets ready to set sail from Cheung Chau Island near Hong Kong on September 22, 2010 for the disputed island chain in the East China Sea, amid an escalating row between China and Japan over the territory.

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hoMAge to huMilitY

The exiled Tibetan spiritual leader Dalai Lama on his arrival in Passau, southern Germany, on September 21, 2010, where

he is to receive an award by the forum for international understanding “People in

Europe” (“Menschen in Europa”), awarding people acting for Europe.

QT-Oct.indd 23 9/30/10 3:15:35 PM


a s the world addresses the potentially catastrophic con-sequences of climate change over the coming years, tack-ling cities’ carbon emissions

will be a decisive factor. Today, nearly 80% of carbon dioxide emissions – the main cause of global warming – emanate from cities and the problem is expected to become more and more acute as the population in the MENA region becomes more urbanised. According to the UN, the population will reach 430 million by 2020, of which 280 million people will live in cities.

Urban InfrastructurePolicy makers and business leaders can change this potentially disastrous course. The key is in urban infrastructure: the systems of transportation, energy, water, building, and communications that support

cities, distinguish them, and contribute so much to their vitality. Estimates from a new research study suggest that cities around the world will have to spend an astonish-ing $350 trillion – seven times the current global GDP – on building, operating, and maintaining these infrastructure systems over the next 30 years to accommodate the growth in their population. If this in-vestment is managed along a business-as-usual path, cities will become a growing force for environmental destruction. If, on the other hand, government and busi-ness leaders direct enough of this spending to initiatives that lower the carbon, then cities will become a primary source of ecological rejuvenation.

All cities will have to take action to limit carbon emissions, but it will be particularly important for two categories of cities. The first category is the rap-idly growing smaller cities with current

populations under 1 million, where the largest population gains and infrastruc-ture expansions will occur. They have fewer resources than other metropolitan areas, but they have an upstart’s advan-tage: They are still in the formative years of infrastructure development and thus have smaller carbon footprints than their more established counterparts. In the MENA region, this category would in-clude economic zones and cities such as King Abdullah Economic City in Saudi Arabia and Masdar in Abu Dhabi. The other category is made up of cities that have less recognition outside their home countries but burgeoning economies and rapidly growing, multimillion popula-tions – Doha and Dammam, for instance. Both types of cities have the opportunity – and the urgent need – to plan for better infrastructure.

Based on the analysis of a 2010 global

view point

Reinventing OuR CitiesCarbon emissions in cities’ are increasing at an alarming rate. Green infrastructure is the key to controling the emissions say experts at Booz

QT-Oct.indd 24 9/30/10 3:15:41 PM


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study conducted by the World Wide Fund for Nature (WWF) and supported by Booz & Company, there are three practices essential to any city’s green strategy.

Ambitious, aspirational planningIn order to control emissions while meeting the challenges of urban growth, cities will need to shift their spending from high-car-bon infrastructure to green infrastructure. This will require the creation of long-term low-carbon emission plans, which differ depending on the city’s level of develop-ment: During their early stages, the bulk of expenditures and emissions come from the construction of infrastructure for trans-portation, housing, and commercial ac-tivities. As the city matures physically and economically, energy use increases until the bulk of expenditures and emissions come from existing infrastructure. At that point, the power of population density can be leveraged to promote energy efficiency, particularly in the areas of transportation and housing. It is during this formative period that opportunities to affect long-term infrastructure expenditures and emissions are most dramatic. Developing cities with more needs and faster-grow-ing populations have more challenges, but they also have more opportunities to create themselves afresh as greener, more livable entities. By providing easy and cost-effective access to energy-efficient public transportation, high-density cities in emerging markets can meet the mobil-ity needs of growing populations while

managing both congestion and their carbon footprint.

Energy-efficient technologySuch technology is the single strongest weapon that cities possess in the fight against climate change. But the small, in-cremental improvements of the past – for example, the use of hybrid vehicles and better models of air conditioning – are not enough. Although they may offer a few more miles per gallon or slightly fewer kilowatt/hours of electricity usage, they cannot provide the absolute emissions reductions necessitated by our booming cities and increasing consumption levels. In addition, cities must invest in techno-logical advances that enable the planning, construction, and usage of low-carbon urban infrastructure. These advances will likely feature a diversified portfolio of in-telligent and integrated renewable energy solutions, including solar, wind, and bio-mass. Increased electrification may also be necessary in order to dramatically in-crease efficiency and enable a larger share of renewable energy input through smart grids, which can boost efficiency and lower costs further by adding two-way communications capabilities, intelligent monitoring systems, and the ability to in-tegrate renewable electricity into conven-tional electric power systems.

Green incentives Although new public and private en-ergy financing opportunities are emerg-ing as climate change rises to the top

of the global agenda, scarce resources and competing agendas pose continued challenges. That being the case, inno-vative financing strategies are needed to provide funding for up-front capital costs. Furthermore, consumers must have incentives in order to choose en-ergy efficiency over energy guzzlers. “We’ve found very clearly that if people ever get $10,000 to improve their home, they fix up their kitchen,” explains Su-san Anderson, Director of Portland’s Bureau of Planning and Sustainability. “They don’t insulate their homes.”

By directing the enormous expendi-tures earmarked for urban infrastruc-ture and usage toward energy-efficient technology, policymakers will be able to accomplish several important goals: First, they can make progress in limit-ing climate change. Second, they can enhance the livability of urban areas. Finally, they can ensure their city will serve as an innovation platform and hub of green entrepreneurship, building the economic base and creating jobs by at-tracting green industry. And although the greatest opportunities lie in new construction, every city – regardless of its size or level of development – can make smart choices in the sustainable rejuvenation of its existing infrastruc-ture. By galvanising all our intellectual, technological, and financial resources, we can avert environmental destruction and build a sustainable foundation for future growth, at the same time that we meet tomorrow’s urban challenges.n

By Dr Walid Fayad, Partner and Tarek El Sayed, Principal

Booz & Company is a leading global management consulting firm, helping the world’s top businesses, government ministries and organisations.

Ò As the city matures physically and economically, energy use increases until the bulk of expenditures and emissions come from existing infrastructure.

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t he GCC telecom sector, once praised for outgrowing West-ern counterparts, is facing an inevitable challenge that might transform its course and culture.

The sector’s 2010 first-half results asserted this fact, showing that several incumbents round the region suffered profit decline between 15 and 30%.

Even worse, the possibilities of future profit-making will be under very high pressure in a semi-saturated environ-ment and a market ridden by price wars and mounting competition.

A fresh study by Boston Consulting Group ((BCG), however, claims to have the keys to restoring growth.

‘Lean Advantage in Telcos: Reduc-ing Complexity and Transforming Cul-ture’ points out that regional telcos can achieve full potential via innovative cost/waste cutting arrangements.

Qatar Today spoke to Joerg Hildeb-randt, Partner and Managing Director, BCG Middle East for further insights.

How different are the Middle East telecom markets from other parts of the world?Over the last five years, the Middle East telecom markets have clearly outgrown western counterparts, ie the US and Eu-rope. Saudi Arabia and Egypt, for in-stance, experienced drastic changes with the entry of second and third players. Mobile penetration growth skyrocketed, fueled by new offers and fierce price competition.

However, following a global trend, GCC markets are nearing saturation. As a result, regional telcos need to get ac-customed to slower growth rates, adapt their business model and apply rigorous efficiency management. On the growth side, another similarity exists: the re-maining resort of growth will be mobile and fixed broadband including Value Added Services (VAS).

All operators round the world includ-ing GCC telcos have to fully embrace the VAS opportunity and make the man-agement of VAS part of their DNA.

Is the telecom operatior’s inefficiency a regional or global phenomenon? The telecom business is a utility busi-ness, which can be characterised by investment-intense assets, complex and employee-heavy processes.

Due to shrinking margins and commoditisation of voice, opera-tors around the globe find them-selves in comparable situations: they need to significantly increase the efficiency in their business set-up. But the underlying rea-sons are different.

In the Middle East, opera-tors can hardly keep up with the growth compromising the ef-ficiency of processes. Now after decades of growth and constant addition of complexity to business, it is time for Mideast telco players to change the fundamental and underlying

By Ahmed Lotfy

Ringing tHe CHAnges

Joerg Hildebrandt, Partner and Managing

Director, BCG Middle East.

QT-Oct.indd 28 9/30/10 3:18:52 PM

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processes, of course via automation.On the contrary, operators in the West

started to increase automation in their business design earlier on. However, Middle East telecoms can unlock consid-erable efficiency potential when merg-ing fixed and mobile operations. This is quite common in the region, e.g. for the incumbents in Qatar, UAE and KSA.

Do you think waste cutting is the only way out for in-cumbents in semi-saturated markets? It will basically be a combination of

three levers Growth in broadband and value

added services, Reducing cost and more focus on

a cost-conscious culture, and Reducing complexity and waste

in business processes and organi sation.

The report maintains that tra-ditional ways of cost cutting will fall short of achieving full potential. What other mea-sures do you advise? In the short-term, operators should scru-tinise all different cost categories; insur-ance costs, maintenance costs ...etc. The biggest saving potential, however, still resides in the optimisation of capital ex-penditure, e.g. purchase of network ele-ments. In the mid-term, operators need to change the way of operations by intro-ducing a much more lean set up n

Ò Due to shrinking mar-gins and commoditisa-tion of voice, operators around the globe need to significantly increase the efficiency of their business set-upÓ

teLco coMPLexity inDexThe study shows that complexity is the key driver of cost inefficien-cies in the regionÕ s telecom pro-cesses and business models.

GCC telecom operators have been in Ô growth modeÕ over years, not being able to catch up with customer demand. Complexity has exponentially increased through new products, partnerships, and various service levels to custom-ers.

Complexity is greater in typi-cal operators than in a lean, fully optimised provider, the study maintains and suggests four frameworks or Ô lensesÕ to reduce complexity.

The Strategic Lens Setting overall objectives for

transformation using this lens involves identifying and man-aging the strategic tradeoffs that drive a companyÕ s operating model.

The Operations Lens Analysing a company using this

lens helps it prioritise available methods, or levers, for achiev-ing excellence in its processes and systems.

The People Engagement Lens Involving employees and re-

ceiving their full cooperation are often the missing links in improvement efforts.

The Performance Governance Lens

Viewing an organisation through this lens helps a com-pany measure-and maintain-change by choosing the correct structures and measurement systems.


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I received an email from the ‘tax authorities’ back home telling me that I have an income tax rebate and they need my bank details to transfer the money. The last time I paid tax there was years ago, surely this can’t be genuine?

It isn’t genuine and is one of many scams doing the rounds at the moment. Quite simply, someone is trying to get your bank account details and should they get them, they will no doubt attempt to liberate some of your money. A recent scam included the name of a prominent Middle East bank which was offering to double your salary for six months if you register with them. Registration required you to give all your banking details but fortunately the authorities are onto it and are closing down the website links from the email. More creatively, an email we saw recently, supposedly from VISA, was asking for verification of your de-tails for security reasons. Having looked at the information they were requesting, they could have easily emptied a bank account. Disturbingly, in the region very little information is required to purchase goods or services using someone else’s bank account. You may have noticed that when using a card to make a purchase you are not always required to enter your PIN. Also, the sales assistant fails to check that the signature on the invoice matches the signature on your card.

I have been offshore for many years and have recently been contacted with regards to moving my old UK pension schemes overseas. I have done

some of my own research and there do indeed appear to be advantages to this. My concern is that a lot of what I have found does not always match and I want to make sure I am making the right decision.

Under the right circumstances there are many benefits in moving a pension scheme overseas but there is no generic answer to this. Attempting to buy one of these solutions ‘off the shelf’ is not wise. When legislation was introduced in the UK to allow you to move your pension money out of the control of the authori-ties, many companies offered services to provide a solution. It is an easy concept to sell and the main advantages are generally for tax purposes. However, because these solutions are quite expensive to set up, not all product providers give the full range of offshore solutions and therefore the advi-sor is limited to what they can offer. It is a minefield and care should be taken as well as professional advice. Simply looking at a website is not going to be enough to make sure you are making the right decision which has expensive consequences if you get it wrong.

I am considering buying a prop-erty for investment purposes in my home country and while back in the summer, I checked to see if I could get a mortgage. As I have been away for so long I was told that I couldn’t. One bank did say that even if they could, they would charge me extra interest as I would not be living in the property. Is there a solution?

International mortgages are available to purchase property in a large number of countries and the rates are favourable. Fur-thermore, they won’t charge you extra if you choose to let the property. If you are employed, you need to show six months’ bank statements from the bank that your salary is paid into. If you are self em-ployed, you need to have two years’ audit-ed accounts. Both scenarios require other various documents on top.

My family and I came to the Gulf with the intention of returning home after a few years, that was 10 years ago. We are now very much settled here and have no intention of leaving. It has occurred to us that although we have a Will that we took out before we came over here, we don’t know if it is suitable for us here?

A lawyer would suggest that it is pru-dent if you have a Will in all of the jurisdic-tions that you have assets. It has also been suggested by a Will specialist that a single Will should be sufficient as wherever a Will is written, the courts will want to see that your worldwide affairs have been put in order. Should you die here, a local judge will make the decision on how your estate is carved up. A Will would give him a clear indication of what your wishes are. We un-derstand that in the event of a death, the Will can be translated into Arabic and at-tested before being presented to the judge. The Will specialist we know does this for you as part of their service n

emAil sCAms On tHe Rise

Graham Wolverson, an Independent Financial Advisor with Pinnacle Asset and Wealth Management, has over 20 years’ experience in dealing with expatri-

ates’ financial concerns. This month, Graham casts his eye over a number of queries from our readers.

Graham welcomes enquiries for financial advice at: [email protected]. Peruse the

website at: www.yourmoney-matters.com

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QT-Oct.indd 31 9/30/10 3:19:05 PM

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32 Qatar Today OCTOBER 2010

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Qatar is never going to have a mass tourist industry. the country is too small and its tourist attractions too few. But the Burgeoning economy, proliferation of luxury hotels and conference facilities under construction mean that mice activity is on the rise in doha. Qatar today gets the puBlic and private sectors’ thoughts on the future of Business tourism in this country.

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a country of just 11,500 sq mt and with a population of 1.7 million having little in the way of tourist attractions, Qatar has donned the cap of a host for various global meets and conferences and is touting itself as a MICE (Meetings, Incentives, Conventions

and Exhibitions) hotspot. Is this expecting too much from a ‘small country’?Not if you look at the list of conferences held here, successfully

at that, in the last couple of years.The World Economic Forum held its Global Redesign Summit in

Doha this year, The Humanisation of Cities conference was held this past month, the World Innovation Summit for Education is to be held later in the year. The list is lengthy and ever-growing, and now with Qatar vying to host the FIFA 2022 World Cup – with its advanced technology and designs for the stadiums – the hospitality sector seems to be set for a major boost.

Qatar Today speaks to the authorities to learn more about the sector and its plans for the coming years.

a lucrative sectorQatar Tourism Authority (QTA) Chairman, Ahmed Al-Nuaimi, feels that the MICE sector “is a very lucrative sector of tourism – and a sector in which we succeed.”

Qatar MICE Development Institute CEO, Matthew Meredith is in agreement, saying the sector is ‘extremely competitive’. He says that Qatar faces serious global competition.

He feels, though, that Qatar is still in the early stages of development, and this will change quickly as new infrastructure comes on-stream.

“So the medium- to longer-term opportunities are enormous but key stakeholders must align to implement critical initiatives to fully exploit the opportunities in this sector,” he says.

“QTA”, says Al-Nuaimi, “promotes Qatar as a top-quality destination in the region, focusing on business and meetings, tourism, culture, upscale leisure and sports.”

A lofty claim, one might think, but the government is busy doing its homework to make this come true.

“To meet future demands, Qatar has two additional convention centres under construction – the Qatar National Convention Centre and the Doha Convention Centre. Both venues will bring an additional 90,000 sq mt of exhibition space to the market. Qatar will continue to bid for the large world congresses and

“the entire system that supports the mice sector must Be fully developed and aligned to ensure the delivery of a truly world-class experience.”aiming

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sporting events, as we have proven that we can host such events,” says Al-Nuaimi.

But Meredith foresees another deterrent: the cost factor.

“On the supplier’s side costs are still high relative to the surrounding markets. Some prices have softened as a result of economic realities. Competition has also increased, further driving down prices,” he says.

existing facilitiesAl-Nuaimi speaks of the one existing exhibition hall in the country.

“Completed in 2007, the Doha Exhibition Centre has 15,000 sq mt of space and is designed to host six simultaneous exhibitions. It has the latest in smart technology controls with every aspect of operation, from lighting and fire control to wireless internet access. The Doha Exhibition Centre is currently the largest exhibition space in Qatar, and is centrally located with easy access to the airport as well as the top hotels for incoming guests,” he says.

The Doha Exhibition Centre has been the venue for more

than 30 events during the exhibition season including trade shows, conferences and festivals.

Hallmark events, he says, include the Doha Trade Fair in January and June, the Doha Watches & Jewellery Exhibition in February and the

International Book fair held every December. “Conferences held at the Doha Exhibition

Centre cover all industries from medical and education to gas and petroleum. The Doha Exhibition Centre will be the venue for the First International Edition of the Qatar Motor Show in January 2011.”

Meredith speaks as an end-user of the facility and comments, “The new Doha Convention Centre will be an appealing large scale centre once it is completed. The existing Exhibition Centre is not ideal for conference business as the build cost for conference facilities is prohibitive.”

The existing facilities may not be ideal, but that issue will also be resolved next year when the Qatar National Convention Centre (QNCC) in Education City is scheduled to open, says Al-Nuaimi.

“QNCC will be open mid-2011, and will be the venue for the

“Qatar’s tourism strategy is to focus on Business tourism

– targeting the Business traveller.”

ahmed al-nuaimiC h a i r m a n , Q ata r t o u r i s m a u t h o r i t y

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World Petroleum Congress later that year. The Doha Convention Centre will open a few years later in the city centre, surrounded by top hotels, and retail shopping. Both venues will boast state-of-the-art facilities, built to international green standards, with VIP and VVIP access,” he says.

And with that, Al-Nuaimi predicts that Qatar’s MICE sector will see more growth.

“The exhibition and event calendar is expanding with our growing reputation as a venue with strong capabilities and good facilities. We have a number of high profile international events scheduled in the next few years – from industry events to sporting events. Qatar will continue to bid to be a host venue for such events,” he says.

Meredith feels that in terms of event infrastructure Qatar will shortly be on par with many of its competitors.

“The key to success,” he says, “will depend on securing sufficient numbers of events to fill the venues and making Qatar a location that business visitors want to visit.“

As of now, the QMDI uses the convention facilities provided by major hotels but pricings are an issue, he says.

“Our relationship with the hotels is excellent and has developed over the past three years of business relationships with the venues. Rate negotiation is an issue, as the hotels work only on yield management revenue-based rates and are reasonably non-negotiable. This may change as supply overtakes demand which is not the case at the moment. In the short-term rates are high in comparison with other conference hotels in the region. Price is a key issue in attracting large scale international events – even more so in the current economic climate. We are anticipating in the medium- to long-term rates

will reduce as a result of increased supply.”

the usp of QatarWhat can Qatar offer potential MICE clients that other countries in the region cannot?

Al-Nuaimi says that Qatar has been a destination for doing business for centuries due to its vast resources.

“Leveraging this, Qatar’s tourism strategy is to focus on business tourism – targeting the business traveller. Because of the country’s strategic location midway between East and West, and due to the rich cultural heritage, the strategy is also to target the upscale leisure traveller and stop over passengers,” he says.

Qatar is a destination away from the hustle and bustle of mass tourism, he feels.

Meredith is not currently convinced of the suitability of Doha as an incentive destination, in the short-term, ‘however this will develop over the coming years as the market matures’.

He says that the scope to develop the sector is already close at hand.

“Qatar Airways and their global marketing and advertising campaigns have increased awareness significantly. Importantly, Qatar has maintained its Arabic culture and heritage. This is a major draw for visitors. This must be maintained to ensure Qatar retains its identity.”

Business tourists are now curious to find out more, he says.“It is important that Qatar’s tourism offering maintains focus.

Qatar should not be interested in mass tourism. It should remain targeted in its approach focusing on lower volumes, but of high quality. Qatar must strive to be different.”

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and special presentation

suites

halls 1-5 comBine to

create a single exhiBition

space of

28,627sQ mt

total of

57 meeting

rooms



QTA seems to believe in the same ideology when Al-Nuaimi had earlier said that “Qatar is not interested in the mass tourist but in the niche segment.”

“Qatar’s emerging business-focused environment for business tourism and the burgeoning economic infrastructure has already facilitated the promotion of business meetings and international business conferences and congresses. There is much however that remains to be done but Qatar is moving in the right direction as more attractions like the Cultural Village , the Islamic Museum , the Pearl, Al-Shaqab Stables, and Souk Waqif gain greater international awareness and recognition. Qatar’s natural resources such as the Corniche, even the skyline of the business district also give Doha unique backdrops against which to stage events that remain memorable images to visitors,” says Meredith.

Meredith feels that the leisure infrastructure has to be upped too. “One also has to remember that the development of leisure infrastructure is equally important to business tourists since they can’t be on duty 24 hours a day and in many instances they will bring along their families so having ‘things to do’, attractions to visit outside of work, is vital. The creation of a couple of annual unique, even iconic international events or festivals reflecting the local culture would support the emergence of the market incredibly.”

talking figuresThat brings us to revenue generation.What levels of revenue is MICE activity bringing into the country? How has this risen and what sort of percentage increases are you looking for over the coming years?

QTA does not provide any figures on this, though.

Meredith says, “This is difficult to quantify since unlike other tourism authorities, the relevant statistics are not published. The economic multiplier, benefits of revenues generated from MICE activities relative to the

investments required to attract this business have been shown to be substantial. The evidence of this can be seen from the large investments, budgets other countries invest in attracting MICE business via business tourism. They recognise the importance of business tourist expenditures in the local economy.”

Meredith hopes that Qatar will quickly develop strategies to emulate its competitors “since some of the required initiatives take a number of years to come to fruition. Starting from a relatively low basis with appropriate national strategies and budgets in place, double digit growth should be possible on an annual basis for a number of years,” he says.

But he is optimistic that in the long-term Qatar will develop into a fully fledged Convention City.

“Qatar could become one of the world’s leading players but it has to get its business proposition right. There are also opportunities to develop highly-focused niche exhibitions in key sectors attracting regional audiences. The creation of large scale events for the public should also not be forgotten. There are opportunities to develop unique world-class events here that attract both leisure and business tourists.”

However, it is important to look beyond just the events and their venues alone. The entire system that supports the MICE sector must be fully developed and aligned to ensure the delivery of a truly world-class experience that exceeds the expectations of its suppliers and also the end users to support the growth of the sector.

55,000sQ mt

2011

15,000 sQ mt

2010

2013

90,000sQ mt

(this does not include the facilities inside hotels)

“Qatar could Become one of the world’s leading players But it has to get its Business

proposition right. ”

matthew meredith, C E o ,Q ata r m i C E d E v E l o p m E n t i n s t i t u t E



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mICE activity in Qatar currently suffers from a dearth of standalone exhibition and conferencing facilities. When public sector bodies (QMDI) posit that the existing Qatar Exhibition Centre is ‘not ideal for conference

business’ then you can be certain the MICE infrastructure in the country is nowhere near complete.

The norm in MICE structure is to have a variety of venues for MICE activity with hotels supporting delegates in terms of accommodation, catering and ‘after hours’ entertainment. Here, the hotels provide everything under one roof: exhibition space, conferencing rooms, ballrooms, bedrooms, restaurants, bars, spas...

It should not be forgotten that Doha is a modestly-sized city yet the number and prestige of hotel brands both existing and incoming belies the city’s diminutive stature. Why is this? Well, these brands are not here for the good of their health, they know that in a country whose GDP again belies its size that there is money to be made. This is another reason why

hotels in Doha fall broadly into two categories: luxury and low-end, though this is an argument for another time.

whip handWith hotels holding the ‘whip hand’ in Qatar’s MICE industry at present, it’s important to know how these service providers view the market now, and what is to come. Qatar Today spoke to representatives from some of Doha’s high-end properties for their take on the MICE market, and what their respective hotels offer that makes them unique.

how do you view the mice market in Qatar? “Doha is aiming to attract international business and leisure visitors, as well as local guests. Qatar is investing heavily in the MICE industry and this is paying off with the creation of high-end venues and an impressive number of business visitors,” says Safak Guvenc, General Manager, W Hotel. “Regarding Doha’s place in the leisure market, the country offers the best of the sea and desert, as well as a stylish urban landscape. As Qatar’s growth is forecast to continue, both local and foreign investments are continuing to pour in to further development.

“Analysis of the latest figures shows that Qatar is thriving

the hotels making Qatar a mice trap

B y J o h n h u n t

“these Brands are not here for the good of their health, they know that in a country whose gdp Belies its size that there is money to Be made”



The MICE market is an

important target segment for La Cigale Hotel thus the

hotel has invested in the construction of a convention centre to cater to MICE travellers

and activities. Other facilities including 11 dining and entertainment outlets, indoor swimming pool, a fully equipped gymnasium with

certified instructors and a spa with hammam facilities serve to complement the convention

facilities

housni el-yamanla CigalE

What is uniQuE about

What your property can

offer the mice sector?

Oryx Rotana offers nine ultra-modern

meeting rooms. The daylit meeting rooms are equipped with high-tech

solutions and all rooms have their own built-in A/V system, iPad remote control, monitor

signage software, wireless internet, ceiling built-in projector system, meeting room partitioning and the close proximity to Doha International

Airport. This in combination, makes Oryx Rotana the preferred meeting place for the

corporate events

lisa tahaBsem dirECtor of markEting &

CommuniCations,oryx rotana

property ratingnumBer operational

2008 2009

h h h hotels 15 17

h h h h hotels 11 13

h h h h h hotels 12 15

total 38 45**single year increase in 3-star+ hotels: 18%

category hotel hotel apartments

numBer of properties

70* 48

numBer of rooms

12,981 8,763

total 21,744*approximately three-quarters of new hotel

properties will be in the 5-star category

hotel/hotel apartments

under construction until 2012



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in attracting more business and foreign investments to the country. Qatar aims to become a dominant player in the Middle East for the MICE sector as well as the cultural and sport sectors.”

Ritz-Carlton Director of Sales and Marketing, Belal Al-Kadry, commented, “MICE in Qatar is very buoyant. Meetings and events is a main source of business for the hotels and we are seeing an increase in events hosted in Qatar every year. This is mostly generated through the Government, Qatar Foundation for Education and Health as well as the Oil and Gas industry. However, due to the steady increase in competition, it is starting to get competitive in terms of pricing and added value.

“By winning the Qatar 2022 World Cup bid, the MICE market could get the boost it needs in Qatar and it would make the country even more attractive as a key destination in the Middle East.”

Qatar, which currently has about 50,000 hotel rooms, will need 60,000 to meet the requirements of world soccer’s governing body FIFA. Bid leaders have promised 95,000 rooms would be available by 2022, offering over 50% more than the minimum figure.

how, in terms of facilities, is your prop-erty geared towards the mice market? “La Cigale has premises dedicated to convention facilities including a fully-equipped business centre two ballrooms and a number of interconnecting function rooms suitable for events of a smaller scale,” says Housni El-Yaman, Director for Sales and Marketing for the hotel.

Al-Kadry boasts of the Ritz-Carlton’s 34,000 sq ft of meeting space, ten ballrooms with private entrances and 700 parking spaces and W Hotel’s Guvenc tells of

“ballrooms, meeting spaces and chic get-away locations. We can transform our space to meet your diverse needs and many of our facilities have their own distinct personality.”

MICE activity is on the increase, of that there is no doubt, as when posed the question: are you seeing increased amounts of MICE business at your property?, the response was unanimous.

Sheraton Doha acting Manager of PR, Luis Zapanta, said, “During the first, second and fourth quarters of the year, Sheraton Doha has been busy. Meetings and conferences are being held throughout the year, particularly during the aforementioned periods. As the country goes on to be the preferred host of international events, Sheraton Doha will continue to increase amount of business in the segment.”

Says Guvenc: “Despite the current economic climate, we have seen a progressive increase in business within the local market. Doha is hosting 183 exhibitions this year. W Doha recognises local trends, and strives to deviate from them, developing a unique atmosphere.”

does Qatar have sufficient ‘attraction’ to maintain the upward trend? “We are certain that the MICE market in Qatar has a lot of potential to expand in the coming years. Upcoming new facilities such as the Qatar National Convention Centre will further expand the country’s MICE market,” says Al-Yaman.

“increasing the supply of decent mice venues is going to fulfil,

and ultimately enhance, an already existing demand”

Sheraton Doha, the ‘Pyramid of

the Gulf’, is the only property in Qatar that boasts a 70-acre convention hotel and a

fascinating beach resort in the centre of a business district. The property has been the preferred venue

for international conferences and conventions having 26 meeting rooms and a convention centre which

can accommodate up to 5,000 guests. Ten outlets of different themes provide each guest an option to culinary

perfection for every palate. The hotel is a landmark in Doha and well-known for

perfect architecture, premier location, quality service, culinary concoctions and

the smiles of its associates

luis zapantashEraton doha



“Qatar progresses rapidly and infrastructures are being built making the country an attractive destination. Meetings and exhibition venues, sports facilities, hotels, amusement and entertainment parks will cater all kinds of travellers. MICE market will continue to expand in Qatar as before and will more and more become the preferred destination for different segments,” says Zapanta and Al-Kadry offers, “The Qatar Bid for the 2022 World Cup could change the whole perspective and make Doha and Qatar a key MICE destination in the Middle East. Doha is a fast-growing city and has key venues like the Cultural Village, Losail International Circuit, a convention centre and many more. Looking into the future with the opening of the second Convention Centre in Qatar Foundation, this will add another key location to the city’s portfolio.”

is there, then, a particular niche that Qatar could occupy within the regional mice network? “Qatar will definitely be a major MICE destination in the region over the coming years,” says Al-Kadry. “With the increase in number of hotels, convention centres, cultural activities and investment from the government in key areas such as sport, health, education and cultural activities, Doha will host many of the major events in the region. At this stage, Doha and Qatar can already offer a variety of cultural venues, i.e. The Museum of Islamic Art, The Cultural Village and the traditional

Souk Waqif. Qatar will continue to remain a key driver in the sports arena with many major international sporting events to continue to be hosted in Doha – Moto GP, Qatar Masters, Qatar Open, Cycling, Asian Games and so on.”

well connectedSaid El-Yaman, “In addition to the existing and upcoming facilities for MICE travellers, Qatar is generally perceived as a safe and secure country to visit. A basic but effective infrastructure is notable. The currency exchange against foreign monetary units is also generally stable and favourable. Qatar is a hub for the oil and gas industry and the country is well-connected via flights to numerous major cities in different continents.”

For the service providers, the outlook is overwhelmingly positive, as well it should be. As things currently stand, they are providing the majority of venues as well as occupying the traditional role of housing, feeding and watering the guests. Regardless of how many new, independent venues come online, guests will always need somewhere to stay.

Increasing the supply of decent MICE venues is going to fulfil, and ultimately enhance, an already existing demand. Augment this demand with the work that is being done to consolidate existing attractions (Sport, Museum of Islamic Art) and bring new ones (World Cup 2022, next year’s AFC Asian Cup) to Doha and for the MICE sector as a whole – provider and consumer – the future looks promising n




While the concept of luxury

is not new in Doha, as it is a dynamic and exciting emerging market, W finds itself as a

sophisticated stand-alone concept in the Middle East. W Doha offers an innovative and ultra-modern level of design, energy and style while providing high

level access to some of the most authentic and treasured elements of the city, including shopping in traditional souks and desert safaris. Guests and residents are treated to the W brand’s signature Whatever/Whenever

service, the hotel’s 24-hour concierge who can provide whatever guests want

whenever they want it... as long as it is legal

safak guvencW hotEl

The Ritz-Carlton Island – a private

outdoor space which can cater events for up to 3,000 people. A very

‘secure’ location for high-profile corporate meetings, government events and celebrity

events. A first class and always fully-dedicated service across the entire property from the

guest’s arrival until the guest’s departure and a ‘one stop shop’ for all clients who book

with us

Belal al-kadryritz-Carlton


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w e know that the founda-tion of any enduring re-lationship is confidence – trust that partners will always keep their prom-

ises. But we also know that maintaining a strong partnership is bit more compli-cated, involving something we’ve called integrity. Integrity is a reflection of how each partner behaves when hiccups and snags occur or when the partnership con-fronts unforeseen barriers.

Problems and pitfalls are the acid test of a relationship. They can never be completely eliminated, but mutual trust is bolstered when relationship-imper-iling tribulations are expeditiously ad-

dressed in a manner that Õ s both fair and forthright.

CEOs can provide leadership by liv-ing the values of fairness, honesty, and authenticity.

One particularly important high-pro-file relationship involves an organisa-tion Õ s CEO and its employees. A Wall Street Journal article on the attributes of a vital business leader shares some valu-able lessons about manager integrity and what it implies. In this article, the author champions a fundamental leadership characteristic that many CEOs might view with some alarm: vulnerability. The author argues that confidence in a leader is enhanced not just by competence but

also by honesty and humility. In short: You can increase your leadership stature by acknowledging your limitations.

A related argument appears in a com-mentary by Stanford University Profes-sor Robert Sutton, who maintains that CEOs have to balance the need to be assertive with the requirement that they demonstrate sensitivity.

The latter implies flexibility and open-ness, which along with vulnerability, are traits that might not automatically be as-cribed to hard-driving business leaders.

Starbucks CEO Howard Schultz ap-peared to subscribe to the philosophy of honesty and humility when he stat-ed, “We had to admit to ourselves and

A brAnD PArADox: iF orGAniSAtionS WAnt rePUtAtionS WithoUt tArniSh, they neeD to AcknoWLeDGe their MiStAkeS

YOu messed up – Admit it

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to the people of this company that we owned the mistakes that were made.” Starbucks was accused of losing its way, overextending into too many locations and too many product areas while losing sight of the distinctive coffeehouse ex-perience that was the core of the brand. Schultz contends that publicly admit-ting responsibility and making ‘an honest confession’ about his com-pany’s mistakes have been essen-tial first steps for Starbucks to begin moving forward again. According to this view, the complete CEO is one who evidences humanity rather than infallibility.

The contention here is that CEOs can provide leadership not just by project-ing strength to outline a mission but also by living the values of fairness, honesty, and authenticity.

Those values help boost morale and employee buying in pursuit of the organisation’s mission.

Confidence managementMaybe there’s a lesson here for more than just the CEO. After all, there are many types of relationships, both inter-nal and external, that are important to an organisation. One particular sphere that seems to cry out for smart relationship management is the activity surround-ing an organisation’s brand. The brand makes a statement to the world about what the organisation stands for, what makes it different, and why it’s worthy. The brand promise provides the basis for a set of critical connections. For any given organisation, this includes the bonds forged with customers, prospects, employees, shareholders, regulators, and analysts. Some of these relationships may be strong, vibrant, and enduring, but others may not. The overall strength and health of these connections comprise the brand’s equity.

At Gallup, we’ve learned a fair amount about brand bonds. We know that these connections are fundamentally rooted in human emotions, and they have a defined structure. As with personal relation-ships, an ‘engaged’ brand relationship is grounded in Confidence in the brand’s commitment to always keep its prom-

ises. We also know that a fully engaged brand relationship requires an additional component of Integrity, one that’s very much akin to what is required of a CEO. Those who buy and use an organisa-tion’s branded products and services need to feel certain that they will always be treated fairly by a product or service provider that stands ready to remedy any

problems that might occur.In recognition of the importance of

these two fundamental brand relationship requirements, marketers have invested heavily in programmes specifically de-signed to bolster the feelings of Confi-dence and Integrity that key stakeholders ascribe to the organisation. First, manu-facturers have spent millions implement-ing Six Sigma solutions with the goal of dramatically reducing possible defects. But ‘dramatically reducing’doesn’t mean ‘eliminating’. Even with more aggres-sive corporate oversight of the sort some analysts have advocated, firms can’t possibly anticipate or eliminate all potentially disruptive hazards.

So these same organisations must in-vest in corporate structures and recovery programmes that are designed to tackle defects when they occur. After all, cus-tomers don’t necessarily demand abso-lute perfection from the products and services they use. But they do fully ex-pect that marketers will stand foursquare behind their promises and will always respond openly, honestly, and with re-spect for the intelligence of customers – whose continuing loyalty they hope to merit.

Self-serving plaudits that lack authenticity won’t resonate with custom-ers or employees.

Organisations are understandably at-tentive to the need for quality control and problem recovery. But they’re also paying attention to how they might be viewed in the world, since consumer perceptions may not always sync with

“CEOs can provide leadership not just by projecting strength to outline a mission but also by living the values of fairness, honesty, and authenticity.”

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By William J. McEwen

McEwen is the author of Married to the Brand (Gallup Press, 2005) and coauthor of the Harvard Business Review article “Inside the Mind of the Chinese Consumer”.

Copyright The Gallup Organisation, Princeton, NJ. All rights reserved. Reprinted with permission. Visit the Gallup Management Journal at gmj.gallup.com

the objective reality of freedom from de-fects. Therefore, recognising this crucial cornerstone of consumer confidence, many organisations allocate significant resources to initiatives designed to boost their brand image and enhance their brand’s esteem.

But just as defect reduction doesn’t mean elimination, perceptions of es-teem don’t necessarily equate to images of perfection. Litanies proclaiming the good news about an organisation’s good works may not generate high levels of esteem. High-profile advertising, public relations, and corporate responsibility campaigns won’t establish customer confidence and brand esteem if they overclaim corporate altruism. Trumpet-ing unachievable flawlessness in the organisation’s operational performance doesn’t work either.

Sounds like preaching to the choir. Most businesses are already spending serious sums in pursuit of defect reduc-tion, problem resolution, and effective corporate communications.

Enter the unexpectedRegardless of how much they may be spending to address their brand re-lationship management needs, many organisations are unprepared to tackle disruptive issues when they do arise. Maybe it’s because they aren’t pre-disposed to changing their established course when they encounter storms. Or perhaps their leaders fail to rec-ognise the need to reveal a dollop of humility – the sort espoused by Star-bucks’ CEO. Possibly it’s because leaders assume that the path to brand esteem is reached by proclaiming only their positive achievements while steadfastly ignoring their occasional imperfections.

Does it happen? Yes, even in organi-

sations with brands as esteemed as Toy-ota and BP. Both companies have spent many years nurturing their brands and have achieved truly enviable levels of brand equity. They’ve ballyhooed their achievements and shared their impres-sive victories through well-managed corporate communications campaigns. Yet their response to unanticipated operational failures has come under severe criticism, in part for allega-tions that the companies evidenced a ‘bunker mentality’ that lacked empathy with those affected by these failures.

“In the end, it’s the brands them-selves that will suffer if they violate the trust they have built with consum-ers, businesses and the government,” stated one copywriter who formerly worked on BP advertising campaigns.

In fairness, Toyota and BP are hardly alone in being put to the test – and in being critiqued as falling short in the quality of their response. There are other noteworthy exam-ples, even within the confines of pe-troleum and automobiles. Witness the problems that previously plagued Exxon (Valdez) and Ford (Explorer). Even the mighty can be taken sharply down a peg or two. The troubles encoun-tered by these industry dominators may well stem from their propensity to act more like powerful corporate oligarchs and less like leaders who have embraced the lessons about what it takes to inspire the troops – and the stakeholders.

If employee enthusiasm for the organ-isation’s leadership can be enhanced by CEOs who acknowledge their own foi-bles and imperfections, then the organisa-tion’s brand might be similarly enhanced if the organisation acknowledges that it has some decidedly human attributes. Maybe brand esteem is bolstered better by demonstrating a touch of

vulnerability than by proclaiming perfection.

Perhaps, when confronted by crises, brand images need a bit more “We try harder” and a bit less “We’re No 1.” n

eiGht keyS to rebUiLDinG the reLAtionShiPGallup researchers have culled eight ways to restore engagement after a customer has encountered a severe problem: ItÕ s not just about what you say.

ItÕ s about what you do. Align-ment is key.

‘Own’ the problem. Underscore your personal determination to aggressively and effectively respond. Apologise. Share the pain.

Acknowledge your imperfec-tions. Don’t deflect and deny.

Responses must be clear, trans-parently honest, and straight-forward. Eschew obfuscation.

Responses must be thoughtful, meaningful, and relevant, but also timely. The clock is tick-ing. Failure to respond speaks loudly.

Establish and maintain genuine dialogue with all stakeholders. Eagerly solicit their feedback.

Establish clear points for con-tact. Create empowered struc-tures that will ensure mean-ingful response and timely follow-up wherever and when-ever itÕ s warranted.

Show you care. Show youÕ re committed.

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BOOst YOuR pROduCtivitY in tHe WORkplACe

you still want to do things right, handing in assignments by their deadline, exceeding customers’ expectations and maximising organisational profits...but you

are suddenly wrestling with the system-atic process of getting the most basic job tasks done, a process which once brought a smile to your face but which leaves you with shivers today. Does that imply your motivation is long lost and forgotten? Or that you have lost your way and should jump to the job hunters’ ranks? Not nec-essarily!

How is your productivity doing? Is the whole concept of productivity now suddenly blurry in your mind? Do NOT panic! Working professionals of-ten strive to get into their comfort zone from day one on the job, yet when they get there, they often fail to keep things exciting and promising.

They seldom manage to train them-selves to seek new challenges, new sce-narios, new plots that would keep their adrenalin pumping and thus their pro-ductivity wanes. The company naturally does its part to keep your productivity levels on the high, but it is up to you at the end of the day to keep the thrill of the job going.

This may not be so easy post- economic crisis, we concur, but it is def-initely doable. It is a matter individual determination above all.

Here are five tips to boost your productivity at the workplace.

Keep an activity planner on your desk (or your laptop): This planner will serve as a record of all your current/upcoming major assignments with dates (and will break them down to smaller gradual as-signments with realistic deadlines). Take a look at your planner every morning and check where and when there is room for novelty. Have you been eying that CSR project another team has been as-signed to? A client account that has not yet been allocated? First, make sure your schedule permits extra responsibilities. If not, maybe delegating some job tasks to subordinates/ colleagues could be do-able? Planning correctly is your work productivity No. 1 Rule.

Maintain a transparent and clear com-munication channel with managers/ subordinates and peers: It is essential that you recognise at all times that com-munication is a two-way channel. If you want to be listened to, listen. If you want to be approached, approach. If you want to be assisted, assist, and always make sure you are using clear concise lan-guage and backing up your statements/ proposals/requests with facts!

Cherish prioritising: Mutli-taskers have earned a worldwide reputation, but you do not necessarily need to be one in order to be productive. As a matter of fact, focusing on one thing at a time (mono-tasking) might prove much more effective and productive than you might

think. Get your priorities set straight – again, identify small attainable daily ob-jectives on your to-do list that you can accomplish one after the other.

Steer clear from online distractions: And aren’t they many! Itching to update your Facebook status? Tweet with @Bayt jobs, CNN or Ashton Kutcher? Browse for the perfect Porsche Carrera or Chanel Vintage bag? As productive is this might turn out to be (outside working hours), make sure you are keeping online social engagement to a minimum while at work to avoid distraction and clear away from hindering your productivity. Should you decide to spend your lunch break online rather than outside taking a refreshing walk and having an ice cream that is entirely another story!

Remember that work productivity is at all times directly linked to your personal productivity: What are you doing to maintain/increase your pro-ductivity on the personal level? Are you committing yourself to ‘personal’ small (but attainable) goals on daily/weekly/monthly basis? This might come as a surprise to some of you but the truth is a compelling ‘personal’ to-do list is more often than not followed by a similar ef-fective productive and ‘professional’ to-do list. Give your inner personal and professional superpowers a second thought now! You absolutely can go that extra mile!n

Bayt.com is the #1 job site in the Middle East with more than 30,000 employers and over 4.75 Million registered job seekers from across the Middle East, North Africa and the globe, represent-

ing all industries, nationalities and career levels. Post a job or find jobs on www.bayt.com today and access the leading resource for job seekers and employers in the region.

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By John Hunt

A business will stand or fall according to the quality and happiness of its staff. That, certainly, is what Human Resources company Mercer seems to think.

A tOniC fOR tHe tROOps

m ercer is, according to its own literature, “the global leader for trust-ed Human Resources (HR) and related fi-

nancial advice, products and services. In the work with clients, they make a posi-tive impact on the world every day. We do this by enhancing the financial and retirement security, health, productiv-ity and employment relationships of the global workforce.” That’s quite a boast, and worthy of further investigation. Qatar Today met Mercer’s Head of Mar-keting Development GCC, Tom O’Byrne to examine the hype.

First things first; what does Mercer do? “What we do is work with organisations in ‘people strategies’ to help businesses realise their objectives,” says O’Byrne. “We help organisations develop their people, align them to the business strategy, so that they can deliver these objectives.”

At first hearing, it sounds like O’Byrne’s line of work is ‘Human Resources, plus’. What is it he hopes to bring to the region, and, more specifically, Qatar? “Mercer wants to bring global best practice in HR to the region, customise it to an organisa-tion, its lifestyle and its culture. This is a discipline that crosses numerous sec-tors: natural resources, telecoms, FMCG, hospitality and local government.

Qatari resilience“In the GCC, as a whole there is a focus on scaling up the capability of workforces through various HR factors to keep pace with the aggressive business objectives in this market. It’s a high growth market so there is a lot of pressure on develop-ing businesses.” Of Qatar in particular, O’Byrne says, “The Qatari market has shown a resilience when compared to the

UAE. Doha is using the market reality to position itself as an equal player, effective-ly and aggressively in all the HR methods of transformation.”

How would Mercer manifest itself in improving a company’s HR? What are the most common methods Mercer employs? “Mercer is a human capital consulting firm. Human capital is as important to a business as financial capital.”

“In the execution of our operating meth-ods (see over), Mercer uses its own infor-mation products – a core part of our busi-ness is survey data from a massive range of global markets – and uses this to exam-ine trends and provide accurate data which can be applied to HR requirements,” says O’Byrne. “If someone comes to Mer-cer and says, ‘we need to know what we should be paying our people in 2010 in Qatar’ then we need to be able to tell them. We can do this through the application of data we obtain in the course of our work, real numbers from real organisations. We get this information because people trust us,” says O’Byrne.

It’s quite unusual – and always inter-esting – to learn of vertically integrated companies, especially when information gleaned in the furtherance of a paid task can be applied elsewhere, for additional payment.

Generational shiftsMercer is by far the world’s biggest HR consultancy with annual sales in the bil-lions of dollars and 15,000 employees operating in over 40 countries. Is Qatar showing the appetite seen elsewhere for Mercer’s wares? O’Byrne is adamant that it is, and that demand is growing, even relative to the GCC as a whole. “There is an optimism and a confidence here relative to the rest of the GCC,” he says. “A lot of the partnership activity with clients that

Tom OÕ Byrne Mercer’s Head of Marketing

Development, GCC

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we have become involved in should be viewed as ‘generational shifts’, big plays to realign the order of things in the GCC. Qatar can do this because they have active government and the resources. Investment in human capital has really kicked off across all sectors in Qatar in the last two to three years.”

In aligning themselves with Mercer, Qatari organisations will join the approxi-mately two-thirds of the companies listed on the major stock exchanges of the world: the Nikkei Dow, the DAX, the NYSE. O’Byrne is keen to stress, however, that size is not a prerequisite to working with Mercer, explaining that in recent visits to Doha he has talked shop with one organi-sation just 50 people strong and another of 2,500 employees ‘famous for its labels’. His reticence to confirm the name of the organisation lends weight to O’Byrne’s claim that, “The reason Mercer gets called in is because we are trusted to be confiden-tial. We have a strong client base here and across the GCC but just as importantly, we are very protective of what we do – for all the right reasons. It’s our relationship with our clients that holds our business together.”

The company’s impressive numbers in-dicate that business is going well and there is an appetite for their services in this re-gion. What will Qatari companies be doing in five years’ time that they are not doing now? “HR function and HR profession-als will be thinking much more in line with what the business needs. We will see a more educated HR professional, a more experi-enced HR professional – more respected, more strategic and business focused. We see that already in this country and some good practices being shared and so we see that developing rapidly.

A geographic presence“Qatari businesses want to become re-gional businesses and expand into global businesses, to go to the next level. We like to see ourselves as the best practitioners. The relationship we have with Qatar cus-tomers is long-term – it needs to be long-term to realise business objectives. Mercer has 50+ people working in the GCC with a mix of languages and areas of expertise. That we have a geographic presence in the

region means that we are able to develop long-term relationships.

To those companies that want to ‘get on’, what would you say? “We would suggest a review of ‘people strategy’, of HR pro-grammes, practices and processes. To see what is causing discomfort – is it attracting

the right people? Keeping the right people? Have a look at what is keeping your CEO awake at night. It could be any number of things but the questions I would ask and would suspect that any ‘discomfort’ has to do with would be the people dimensions of an organisation.

“Efficient HR is not just a Qatar chal-lenge, but a global challenge in an era where talent mobility is more prevalent than ever, the way in which organisations attract and retain their people is more critical today than it ever has been,” says O’Byrne.

The employee has always known that the human resource is the organisation’s most valuable asset. Now, it seems, the employer is beginning to realise it too n

Ò In the GCC, there is a focus on scaling up the capability of workforces through various HR factors to keep pace with the aggressive business objectives in this market.Ó

OÕ Byrne speaks of the Mercer Ô standardsÕ in enhancing a com-panyÕ s HR and he tells us that there are four Ô methodsÕ which are most frequently applied:

Human capital strategy Ð help HR and company leadership align their strategies over one, three, five years. Address talent attraction [recruitment], growth and organisation design.

Rewards Ð while this usually means money, it does not mean exclusively so. In a contract between an employer and an employee, the financial consid-eration is always the most impor-tant. There are many other con-siderations, [location, vocation and job security are also men-tioned by O’Byrne] but money is at the top. There are a range of financial and non-financial tools and programmes which can help a companyÕ s HR achieve the business goals Ð compensations, benefits programmes, incentives/commission for retail employees, long-term incentives for senior executives, career development and so on. Health benefits also

can be included here Ð wellness

and medical programmes and, in this part of the world, time off to take part in Ramadan charity programmes for example.

Talent Ð doing all we can with the business and HR leadership to attract, develop, retain and motivate the people within the organisation to bring results. This involves processes such as performance management and succession management Ð the latter relevant here with the rela-tively high percentage of family-owned businesses.

Operations and technology Ð maximising the effectiveness of HR processes; holiday entitle-ment processing and adminis-tration, HR procedures and prac-tices for example, even things like the employee handbook; handling the Ô micro dimensionsÕ needed to make judgements around HR. The technology as-pect of this method is how the use of IT in an organisation can increase its impact on and effec-tiveness of strategy in HR sys-tems. Examples of this include automated holiday, salary and performance level systems.

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y ou have been speaking to a variety of audiences interna-tionally. What motivates your visits? What do you want to achieve at this moment in time? A few things. I hope to increase awareness of human rights violations in Iran, which I experienced during my imprisonment. I also met other women

who were experiencing injustices and I realised how important it is for people out-side prison to speak out for those who are struggling to make their own voices heard. Not just for political prisoners or prisoners of conscience who are being punished for peacefully standing up for basic rights, but also others who are facing injustices, it empower them when they know that they are not alone. I also try to tell the story of my own personal journey when I was imprisoned. I fell to one of my lowest points,

“speAking Out fOR tHOse WHO CAnnOt Be HeARd”Iranian-American journalist Roxana Saberi visits her alma mater’s campus in Qatar to speak about her book, Between Two Worlds: My Lifeand Captivity in Iran.Qatar Today caught up with her...

Roxana Saberi,Iranian-American journalist

by Myriam Chandana

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and then I tried to pull myself up again through a renewed sense of faith; And also the inspiration that I got from many of my fellow prisoners who were stand-ing up for their principles, no matter what the cost.

How has this ordeal changed you as a person?In one way, it has made me reflect a lot more on human rights. Earlier, I some-times reported on issues of human rights or wrote about them, but never really thought about it, until I was deprived off my own rights. And then, I realised how valuable universal human rights like freedom of speech through expression, the right to be presumed innocent until proven guilty in a fair and public trial are. I wasn’t allowed to have an attorney for several weeks. I wasn’t allowed to tell my family where I was. And I was threatened with many years in prison and even the death penalty. I realised that these are rights that people would want, no matter where they were in the world, regardless of what their background, nationality, re-ligion, political affiliation, or ideology. When I was freed, I appreciated my free-dom more than before and felt a respon-sibility to join others in speaking out for those who cannot make their own voices heard.

What kind of actions are you currently taking to support human rights organisations or other people like you who are fighting against human rights violations in Iran?Wherever human rights violations take place, they should be addressed – wheth-er that’s in the West or the East. And I am just one of the many who are doing this. In my talks, I address these issues and bring attention to violations in Iran. I try to speak about it as much as I can in the media, by doing interviews and writ-ing op-eds. In my book, I tell the story of student activists, followers of a civil dis-obedience movement, and two of my cell-mates who were two of the seven detained leaders of Iran’s minority Baha’i faith, who were sentenced to 20 years in prison last month. They are being persecuted for

their religious beliefs, in my opinion. The sentence was reduced to 10 years, but 10 years is still a long time! I ask people I speak to do their part by signing petitions or writing letters to Iranian officials at the United Nations or to their own lawmak-ers, because a mass effort over a period of time will be very effective.

What do you believe resulted in your release? The international attention in my case played a huge role in pressuring the Ira-nian authorities to release me when they did. Social media played a huge role – the news of my capture, and then my subse-quent hunger strike went viral through a lot of online support groups.

You have upheld throughout your book that the truth is im-portant to you. But you were initially sentenced to eight years in prison for telling the

truth. What is your message to wrongly accused human rights activists, journalists and cre-ative artists who do not have the kind of backing you did? Not just in Iran but in other countries? I am very fortunate that I had internation-al attention on my case and a large part of it because I was American, my mother is Japanese, and I worked for international news organisations like Fox News and BBC. That is why when I was freed I felt very glad for my freedom, but I felt a lot of sorrow for those prisoners I was leav-ing behind who did not have the kind of international attention but deserved free-dom all the same. It is always a personal decision; at what price are you willing to stand up for these. I don’t look down on those who make false confessions under pressure. Some people are actually physi-cally tortured. I was not so it is hard to compare. Some are not able to leave the country after they are free, so if they re-cant their false confessions there can be serious repercussions for them and their entire families. So, it is really a personal decision. Incidentally, a lot of the women I met, were more willing to stay in prison than live on telling lies.

A prevalent theme throughout your book was conspiracy the-ories, the Iranian Intelligence’s belief that the US is fabricat-ing schemes, sending highly qualified intellectuals to work in Iran to spy on the regime, as in your case. Do you think the leadership in Iran truly be-lieves this? Is there any proof to justify this belief?Every state in the world faces national security threats. But I think hardliners in Iran often knowingly target innocent peo-ple because they want to intimidate cer-tain groups in society and believe these people represent those groups. By doing this, they can scare other likeminded peo-ple like journalists, bloggers, opposition figures, or even scholars. It is possible that with the spread of ideas about democracy and human rights, that these hardliners who do not want democratic rights will

Born in Belleville, New Jersey, and raised in Fargo, North Da-kota, Saberi holds bachelorÕ s de-grees in communications and French from Concordia College in Minnesota, as well as masterÕ s degrees in broadcast journalism from Northwestern University and in international relations from the University of Cambridge. She has reported for ABC Radio, the BBC, Feature Story News, Fox News, NPR, and PRI. Saberi moved to Iran in 2003, and currently lives in North Dakota.

Saberi was arrested in Janu-ary 2009 while working on a book about the people and issues in Iran. She was convicted in a half-hour trial, which resulted in an 8-year prison sentence. Before be-ing freed on appeal, Saberi was held in solitary confinement for five months, during which time her ordeal attracted internation-al attention, including a protest from the Doha Centre for Media Freedom.

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be threatened. But the methods that they are using, by locking people up and using force and brutality, they are creating re-sentment in society which itself is a threat to them in the long run. They also like to make examples of people just to justify their argument that Iran is under threat by foreign powers and people outside the country who are conspiring with foreign powers to spy or overthrow the govern-ment. In the name of national security, maintain a tight grip on society.

In a documentary on Iran, Christiane Amanpour said that Iran currently is a “schizophrenic society.” Do you agree?

There are a lot of conflicts in society, and I think Iran is caught between modernity and tradition, and the East and West, and nationalism and internationalism. On an individual level, a lot of people have dual or multiple identities because

of these clashes between conservative and liberal, but also because they often act differently in public than they do in private. Often times, what they do in pri-

vate might be considered illegal in public.For example watching satellite television or dancing in a between men and women in a mixed gender private party. A lot of people learn to lie in public. Par-ents tell their children if someone comes

to your door and asks if you have satel-lite television, you say no, even if you do. And people eventually develop multiple identities n

Ò When a bird realises that it is other than the cage, it is already free.Ó With these liberating words of 17 century Persian poet Saeb Tabrizi Ð Roxana Saberi begins her memoir, Between Two Worlds: My Life and Captivity in Iran.

Followed by a brief note on the con-

tent of her book and her style of writing, Saberi, an Iranian-American journalist who was imprisoned in Iran last year on charges of espionage, delves into a distressing ac-count of her time in TehranÕ s notorious Evin Prison.

Before reading Between Two Worlds: My Life and Cap-tivity in Iran, few would have received an insight into what happens within the walls of a looming edifice located right at the foot of the sce-nic Alborz Mountains. In her book, Saberi chronicles the 100 days she spent in Section 209 of Evin – a wing known for housing political prisoners since the 1979 Islamic Revo-lution Ð punctuating it with

Iranian political history and culture, current events, and personal stories from the six years she spent in the country.

As she narrates her own ordeal, Saberi raises key issues which have placed Iran in the international spot-light in the recent past. Mainly, she

points out the importance of what she believes are universal human rights and tenets of media freedom. She also makes an effort to relate the agendas of Iranian Ò hardlinersÓ and their im-pacts on lives of journalists, lawyers, and human rights activists in Iran, who eventually end up becoming po-litical prisoners.

The main aspect working in favour of SaberiÕ s account is her journalistic tone and objective reporting of facts. Several paragraphs throughout her book, especially those describing common perceptions, echo the pitch of a news report on US-Iran relations.

Through vivid characters like Javan Ð the interrogator and Haj Khanom Ð one of the prison wardens, and strong dialogue construction, Saberi conveys her interaction with her captors.

Concise and unexaggerated, Be-tween Two Worlds: My Life and Cap-tivity in Iran, is SaberiÕ s informative account of controversial issues sur-rounding the Iranian intelligence, gov-ernment, and judicial system, coupled with a gripping narration of her own position amidst the three entities. Without doubt, a captivating read.

book reVieW: BeTween Two worlds: My life and CapTiviTy in iran

Ò When I was freed, I appreciated my freedom more than before and felt a responsibility to join others in speaking out for those who cannot make their own voices heard.Ó

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i f you asked 100 people, any-where in the world, to name a famous football club, you would get pretty short odds on any or all of the following being men-

tioned: Manchester United, Liverpool, Barcelona, Real Madrid.

Of these clubs, the last two are Span-

ish (well, they both belong to the Spanish league, so for any Catalan Separatists out there, don’t bother writing in) and playing in that country’s top division, La Liga, which is also home to... Málaga Club de Fútbol, or Málaga CF for short. If you’re thinking: ‘who?’ at this point, then don’t be too hard on yourself, you’d most likely

have to be among the fans actually gath-ered inside Málaga’s home ground, La Rosaleda, on a matchday to hear this name proposed as one of note.

Málaga CF, found in the city of the same name in the deep south of the Ibe-rian Peninsula, was born in 1994. Reborn, perhaps, from the ashes of Club Deportivo

By John Hunt

fOR tHe lOve Of tHe gAme thAt QAtAriS LoVe their FootbALL iS not in DoUbt, bUt WhAt MAkeS A hiGh-ProFiLe LocAL bUy A LoW-ProFiLe SPAniSh cLUb? QaTar Today bLoWS the WhiStLe.

The Málaga players line up prior to this season’s opening game.

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Málaga, who played in La Rosaleda in similar colours for 50 years before being dissolved in 1992. In the 16 years hence, it’s fair to say that Málaga have not shak-en Spanish Football. Málaga’s best league performance to date was an eighth-place finish the season before last and they have represented Spain in European competi-tion once, reaching the quarter-finals of the UEFA Cup (now Europa League) in 2002.

Sounds like a pretty unremarkable club, right? Not quite. Since June, Málaga has been wholly owned by Qatar’s own Sheikh Abdullah bin Nasser bin Abdullah Al Ahmed Al-Thani, billionaire business-man. In becoming Abdullah’s property, the club is the first top flight Spanish out-fit to be owned by a native of this region.

A man who could appropriately be described as ‘solvent’, Abdullah found himself €36 million lighter having bought the club and its attendant debts. Pocket change, really, but the very nature of football, its ability to engender strong emotions in interested parties of all hues, means that what on the surface looks like a comparatively modest purchase raises an immodest number of questions.

Why Málaga? The most pertinent question is simple enough: why buy Málaga? In its wake follow 100 other questions. To help us an-swer the query we enlisted the assistance of Málaga CF Press Officer Victor Varela and that of Ronnie Esplin, a journalist

with the Press Association who has been covering football worldwide for over 20 years. Says Valera, “Spanish football is going through its best moments in history, of that there is no doubt. “The World Cup victory has confirmed its place at the top of the FIFA world rank-ings, especially with regard to the way the game is played. The Spanish national team, with its attractive and snappy style, has become the ‘mirror’ that all the teams in La Liga try to emulate.”

Esplin concurs, saying, “The English style of football has historically been re-nowned for its high tempo and getting the

ball from back to front as quickly as pos-sible. The Italian style: more technical, more tactical, cagier. For some time, and especially so in recent years, the Spanish style has been something of a mix of the two, making it attractive as an exciting spectacle but also one for the ‘purists’ who like to see the game played with flair, but within a structure.”

While it could be argued that the pur-chase of Málaga just before the World Cup win was somewhat fortuitous in terms of the subsequent increased expo-sure, Spanish football is already watched worldwide, just behind the English Pre-miership in terms of popularity. For the

same kind of money, Abdullah could have bought a club like Rangers – wildly suc-cessful in the Scottish league and with a worldwide fan base – but ‘Quality over Quantity’ certainly seems to have been a factor in his purchase choice.

What, however, can Málaga hope to achieve in Spanish and European com-petition going forward? The club’s past hasn’t been in any way successful and Valera admits as much when he says, “The history of football in Málaga has always been more linked to disappoint-ments than to big achievements. Málaga CF has always been a humble club but

with the arrival of Sheikh Abdullah Al-Thani, everything has changed. The fu-ture looks hopeful and we would like to become one of the big clubs in Spain.”

That’s going to be a tall order, accord-ing to Esplin. “Spanish football is es-sentially split into three strata,” he says. “At the top, you have Barcelona and Real Madrid, by far and away the biggest and most successful sides in Spain. Then there is a ‘second tier’ composed of popu-lar and relatively successful ‘provincial’ sides such as Sevilla, Valencia and Atleti-co Madrid. Then there is the rest. Málaga find themselves in this latter category.

“I don’t see it as realistic that a club

Ò The history of football in M‡ laga has always been linked to disappointment.Ó

Victor Varela Málaga press officer.

Sheikh Abdullah bin Nasser bin Abdullah Al Ahmed Al-Thani (right) in the director’s box at La Rosaleda.

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from a city of 500,000 people and with an average attendance of about 20,000 could break the duopoly atop Spanish football, there just isn’t the history there, the nationwide popularity nor the ‘num-bers’. The best Málaga could hope for is to break into this ‘second tier’ – and that’s not going to be easy,” he says.

Patience required For Varela, though, the destination is dis-tant, but visible, and the route navigable. “We must be patient,” he says. “We find ourselves in a period of transition, and as such we have to wait. New owners, new objectives, a new way of thinking, a new manager, new players and only one dream: to reach for a high position in the league and to consolidate this project. Everybody knows Rome wasn’t built in a day.

“This team has the scope to improve and if [manager] Jesualdo Ferreira can shorten the time for the players to adapt, I’m sure that the team will bring many glorious afternoons to La Rosaleda. To be among the top ten clubs is our objective.”

Here, importantly, is the recognition that growth is something best achieved organically. Ferreira is a manager of the highest calibre with a glittering CV from his near-30 year career managing in his native Portugal. It doesn’t look as if Ab-dullah is going to throw money at his new purchase willy-nilly as, with very few ex-

ceptions, this approach rarely brings re-sults with clubs that do not already have an extensive history of achievement and the legacy of being well-supported.

Varela seems to appreciate this situation when he says, “Each club is different and it would be a mistake to compare the in-vestments or the examples of other clubs. Málaga would like to be big, but not huge with feet of clay. We are trying to create

a good foundation on which to build a grand project in the next few years.”

It was asked of Varela where Mála-ga CF would be in five years’ time and whether or not the two outcomes would vary. dependent on the amount of money Abdullah put into the club. Our respon-dent would not be drawn on the precise spending plans of the owner. “In five years, Málaga will be one of the great clubs in the Spanish League,” he says. “We will take the name of the city to all the stadia in Europe, this is our dream. We would like to continue to grow a little but more each year, until we have a place among the greats and can fight for more important titles.

“Sheikh Abdullah has already given the first lesson in good, sensible investment

in the space of a couple of months. If we want to have a great team, we have to take on the structure of a big club. Because of this, Sheikh Abdullah has made an impor-tant investment, and not only in the team, during his first months at the club. The project is exciting and the investment will be appropriate to the growth of the club and each year it will be more.”

A project, not an investment Now we know where the club is, where it has come from, where it hopes to go and how it hopes to get there. Although we lack an exact figure as to how large the ‘investment’ in the club will be, overall this should help us address the question previously posed.

Of course, in attempting to ascer-tain why Abdullah bought the club, it wouldn’t hurt to include the thoughts of the club official. “Really I believe that Abdullah bought the club because he is a true lover of football. His link with football is already important in Qatar but now, as owner and president of a club in one of the best leagues in the world he is even more involved. This experience must be very exciting for him as it is for

all those who are part of this project.”Esplin concurs to an extent when he

says, “I don’t see how buying a club like Málaga could be considered a ‘vanity purchase’. For the same money or a little more you could get something much more high profile. It’s hard to second guess someone you’ve never met but I think Abdullah bought Málaga as a proj-ect, not an investment. Only about one percent of football clubs make money and Málaga would not be in that one percent. I really think he just wants to see how far he can take the club.

“The Spanish league is of an excep-tional standard, so it’s not going to be easy to get the club into the upper ech-elons. I guess he must really like foot-ball...” n

“Sheikh Abdullah has already given the first lesson in good, sensible investment. If we want to have a great team, we have to take on the structure of a big club.Ó

Flag of the World and European Champions, Spain

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T he global fund management industry underwent a massive shock in 2008 when the financial crisis hit. Both asset managers and their clients, institutions

and individuals, suffered declining earnings. One report sug-gested that in 2008 the number of high net-worth-individuals (HNWIs), defined as those with $1 million or more in invest-able assets, declined by an estimated 15% to 8.6 million while their wealth declined to $32.8 trillion. In the Middle East, HNWIs declined by an estimated 5.9% and their wealth by over 16%.

Now the global economy shows tentative signs of recovery and the asset management industry is beginning to enjoy better times. The annual World Wealth Report for 2010 by CapGemini and Merrill Lynch suggests that in 2009 the num-ber of HNWIs around the world had grown 17% to over 10 million and their wealth had increased nearly 19% to $39 tril-lion. Consultants McKinsey & Company, identifying a long-term trend, have estimated that asset management revenues in the GCC region will increase by 10-15% annually from 2005 to 2015. A TimE TO divERSifyAt the same time, GCC investors have been increasingly at-tracted to invest more at home as economic prospects have improved and as the US and European markets have looked less attractive in the aftermath of both 9/11 and the financial crisis. In addition banks and other investors are now looking to diversify their investment portfolios away from real estate,

which was particularly badly hit in the crisis, into other asset classes. This has also coincided with determined moves by these institutions to grow their activities domestically and internationally.

The growing interest from domestic investors coupled with the positive economic prospects for the GCC region as oil and gas prices rise in turn stimulating foreign investment, bodes well for both local and international asset managers which are renewing their interest in developing services in the region.

So in this context, it is no surprise that Islamic Banking and

“islAmiC Asset mAnAgement Will flOuRisH”BY YOUSUF MOHAMED AL-JAIDA

Is it true that asset management is an important and grow-ing segment within the Islamic Finance sector?It certainly is, not only for Muslims but non-Muslims looking at it as an alternative investment type. It provides for a safer invest-ment vehicle so interest in Islamic Finance as an asset class has been growing. A Muslim customer who was presented with two identical products, one Shariah-compliant and one not, would obviously choose the former. Shariah-compliant products are not just popular in the GCC, but Europe (UK/France) also.

Which organisations within QFC are focused on Islamic Finance?Within the QFC, there are several firms operating under Islamic principles. In particular, Samba, Rayan Investments, Qatar First

Investment Bank and Qinvest are all examples of firms who are offering products of a high quality in Islamic Finance.

How have the turbulent economic conditions since 2008 affected QFCA’s way of doing business?We’re fortunate to be based in Qatar so the impact hasn’t been as great, especially with such a proactive government - they bought portions of the real estate and equity portfolios of all QCB banks that wished to participate; more to provide a signal that things would remain stable. It was never an apocalyptic scenario. With international firms looking to expand here becoming more cau-tious and reticent, this perhaps showed as a slowdown also. The general buoyancy and growth in the country counterbalanced things in this regard.

gRowing AppeAl

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Finance, with its prudent approach to the latter, is now also enjoying a boost. Deloitte’s Islamic Finance Knowledge Centre estimates that the demand for Islamic financial services will continue to grow between 15-20% per annum. Not only is the number of institutions offering Islamic financial products and services growing, but so too are the number and variety of products and services.

The asset management sector forms a small part of the $1tril-lion Islamic finance market, giving ample room for fund man-agers to tap the growing potential of the sector. In a recent report, Ernst & Young estimated the size of the Islamic asset management industry at about $52 billion, comprising a little over 5% of the entire industry.

WEATHERinG THE STORmQatar has weathered the financial crisis particularly well and is reaping the rewards of a long-term investment approach to the development of Liquefied Natural Gas.

The Qatar Financial Centre (QFC), set up in 2005 to attract financial services organisations and offering a legal and regu-latory environment modelled on global best practice, has iden-tified asset management, alongside reinsurance and captive insurance, as one of its major potential growth areas capitalis-ing on an uniquely sustainable platform.

The QFCA provides a low tax regime, allows 100% owner-ship and repatriation of all profits, whilst all in an onshore trad-ing environment. It has already enjoyed success licensing over 120 organisations including major international players such as AXA Investment Managers and Deutsche Bank. In 2009 Qa-tar First Investment Bank (QFIB) was launched, becoming the first non-affiliated Shariah-compliant investment bank to be regulated by the Qatar Financial Centre Regulatory Authority.

Recently the QFC has made more specific proposals to sup-port the growth and extension of the asset management indus-try within Qatar.

These proposals relate to: Allowing authorised firms to operate foreign funds. Establishing a regime for QFC registered retail funds. Allowing foreign funds to be marketed to retail customers. And allowing the independent entity/custodian of a QFC col-lective investment fund to also perform certain administra-tive functions for that fund.

The combination of Qatar’s fast growing economy, increasing wealth and a robust regulatory environment together with the growing demand for Islamic investment products has very re-cently persuaded Qatar First Investment Bank and specialist regional asset manager Gulfmena Alternative Investments to plan to set up a Shariah-compliant asset management firm. The firm, which will have its own Shariah supervisory board, will cater to qualified investors such as Islamic banks, founda-tions and charitable organisations and will seek to be regu-lated by the Qatar Financial Centre Regulatory Authority after being set up initially as a temporary offshore organisation.

It is the QFC Authority’s goal to build a world class finan-cial services marketplace where all participants, both domes-tic and international, will benefit from the considerable local market potential which they can use not only as a springboard into other countries in the GCC, but also as a powerful regional base from which to tap into the broader growth markets of the Middle East, north and sub-Saharan Africa and the Indian sub-continent.

Asset management, and specifically within that Islamic as-set management, is forecast to further flourish n

Q & A With StePhen cArriere, heAD oF MArketinG AnD corPorAte coMMUnicAtionS, QAtAr FinAnciAL centre AUthority (QFcA).

(The writer is the Director - Strategic Development (Banking & Asset Management), Qatar Financial Centre Authority)

What would you see as the main reason people would look to an Islamic Finance product? Traditionally these types of product are concurrent with the Muslim faith. For non-Muslims, Islamic Finance viewed as a more conservative investment vehicle – something seen as more ‘moral’ perhaps.

What is QFCA’s goal for the future? Which sectors will it focusing on?Our goal is to continue to develop the financial services sector through:

Asset management Reinsurance Captive insurance

We are trying to build a pre-eminent hub in the GCC in these

three subsets. We feel that this is certainly realistic - but it’s not going to happen tomorrow.

Where will Qatar be in five years’ time as a hub for Shariah-compliant investment business? That’s something which will not be driven at a governmental level, it will need to be driven at a market level. We are trying to ensure that the infrastructure is in place to help financial busi-nesses grow and thrive - If that means regular (i.e. non-Shariah-compliant) products taking centre stage, then so be it.

Do you co-ordinate with other Islamic Finance hubs (such as Malaysia) for the discussion of ‘best practice’?We try to co-ordinate with all hubs and leverage the good work done within the different jurisdictions.

Special feature on Islamic Banking

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Al Hilal Islamic Banking continues its business and earnings growth trend, by increasing its market share and expanding its customer base. This was

achieved in partnership with other functions of the Corpo-rate, Consumer and Treasury Group, which works seam-lessly to deliver structured solutions to Islamic banking cus-tomers.

Al Hilal houses a dedicated Islamic Banking Division with-in its infrastructure and represents a horizontal cut across all major banking products and offerings that includes con-sumer, corporate and institutional offerings, commercial and SME financing, and various Islamic financing services.

Al Hilal Islamic has a well structured Shariah-compliant Islamic banking organisational set-up, which caters to all aspects of product development, business development, Sh-ariah-compliance and audit. As a result, Al Hilal Islamic has earned the distinction of being among the top tier providers of Islamic banking products and services in Qatar. The Is-lamic Banking Division Team works with seamless connec-tivity with the BankÕ s relationship and prod

AcHiEvEmEnTS The launch of Al Hilal Phone Banking services is one of the main services thrown open for the customers. In addition, structured derivative-linked Islamic investment products were introduced to provide attractive returns without com-promising on capital protection.

Al Hilal Islamic Banking offers a complete range of Islamic products and services that represent effective and innovative Shariah-compliant financial solutions. Financing options in-clude Ijara and Murabaha. For deposit products, customers can choose from Current, Savings and Term Investment Deposit options.

The Al Hilal Islamic Banking branch network also grew with the addition of its fourth Al Hilal Islamic branch in Mer-qab. This is a reassurance that Al Hilal Islamic Banking is rendering excellent and innovative Islamic banking prod-ucts and services to its valued customers through its net-work of branches.

Our Shariah Supervisory Board is comprised of eminent scholars who are well aware of the business dynamics. They continue to inspire and guide us in developing and promot-ing innovative Shariah-compliant solutions n

Al hilAl islAMiC bAnking

stRuCtuRed sOlutiOns tHROugH sHARiAH

Salah Murad, Chief Executive Officer, Al Hilal Islamic Banking

Special feature on Islamic Banking

QT-Oct.indd 64 9/30/10 3:33:37 PM

QT-Oct.indd 65 9/30/10 3:33:41 PM


gReen sCene

grouped together in one of the meeting rooms at the brand new HSBC Qatar office head-quarters, the three climate champions (of a total of five)

– Cristiano Mayrink, Shalini Sharma and Ajay Joseph – clad in black t-shirts branded with the names of all the partners in the HSBC Climate Partnership, the trio are set to answer the queries about their programme.

The roleWhat do climate champions do?

HSBC, Manager, CMB Sales – Pay-ments and Cash Management Mayrink, replies, “As part of the HSBC Climate Partnership, Earthwatch has set up Re-gional Climate Centres around the world where scientists and HSBC staff are col-lecting vital data on the impact of climate change on the forests of the world. And as part of this partnership, Earthwatch is engaging HSBC employees on climate change issues.”

HSBC, Manager, Communications,

Greta Madgwick, who has joined us, puts the whole cause into perspective. She says, “Working with leading scientists, employ-ees learn about the impact climate change is having on the environment. They are encouraged to bring their knowledge and experience back to the business and their communities, to inspire action for a more sustainable environment.”

“The entire project was launched in 2007, in partnership with five environ-mental institutions, The Climate Group, Earthwatch, Smithsonian Tropical Re-search Institute and WWF and HSBC. The project aims to involve 350,000 HSBC staff in 86 countries. If every one of them gets involved and reaches out to their im-mediate families and friends and attempt to change mindsets the impact created would be enormous.

“That is why a company like HSBC, which has nothing to do with the climate, can make a difference.”

CSR Spiel? But the Champions are proof of the fact that what is claimed has been put into action. HSBC Qatar current-

ly has eight qualified climate champions of whom five have completed the trip. Janice Virginia Trindade, Corporate Sustainabil-ity, Sponsorship & Events Manager along with Dimitri Giokas, Chief Operating Of-ficer are the other two climate champions.

The actionThe five climate champions are back from a trip to Sirsi, Karnataka in India after as-sisting the Indian Institute of Sciences in collecting data about the existing forest in the area.

Sirsi, explains Ajay Joseph, an IT Sup-port Officer at HSBC, is a town surround-ed by lush green forest and the primary crop grown in the villages is Arecanut making it one of the major trading cen-tres for the nuts. “The nuts grown here are transported all over India and also export-ed abroad. The region is also popular for many other spices like cardamom, pepper, betel leaves and vanilla,” he explains.

“Along with 15 volunteers, from other parts of the world, we helped in mapping the forests. The data collected

CHAmpiOning A CAuse

HSBC is helping address the climate issue, by send-ing its employees to assist

various environmental organisations.

Sindhu Nair talks to their ‘Climate

Champions’.

Cristiano Mayrink, Shalini Sharma and Ajay Joseph:The three Climate Champions

QT-Oct.indd 66 9/30/10 3:33:46 PM

QT-Oct.indd 67 9/30/10 4:19:27 PM


green scene

were recorded and this will be revisited to note the impact of the changing en-vironment on our natural resources,” says Shalini Sharma, Assistant Manager Corporate Banking, HSBC.

The data collection, she says, is an on-going process that will continue for 20 years, before any findings are revealed. “Results from this programme will en-able forest managers, conservationists and communities to understand how for-ests are responding to climate change and how they can better manage them,” she says.

This is just one of the initiatives of EarthWatch, says Mayrink. Others are ongoing in Brazil, USA and Mexico.

“In Brazil, EarthWatch is working at Curitiba, in the GuaraqueÁaba En-vironmental Protection Area , a region

that harbours some of the last remaining patches of the Atlantic Forest. This bio-diversity ‘hotspot’ contains thousands of threatened species that have lost their habitat due to deforestation. More than 90% of the original vegetation has been destroyed,” he says.

Lessons learntJoseph shares his experience at Sirsi, where he connected with the locals and found that, “they are heavily dependent on the surrounding natural resources.”

“The small scale industries that exist in the area are the lifeline for the poor who live there. And most of the popula-tion of this district are below the poverty line.”

“Sitting in our air-conditioned offices, we tend not to think of those directly affected by climate change. Out there, when we were with the locals, we started thinking,” says Sharma.

For Mayrink, an educational video screened for the champions made an impact.

“The future will be a lot worse than what we have been thinking. Some-

thing has to be done and done fast,” he asserts.

Carrying it forwardThe small exercise of forest mapping was but the first step for the climate champions, a sort of awakening to the

impending environmental hazards. What they have to do, though, is make a long-term commitment.

“We intend to create awareness, through small steps, conserve electricity and water, work with family members and friends and try to spread the message of conservation. This will bringing about other such movements. Even at our work place we are constantly introducing new initiatives, small and big,” says Sharma.

For Joseph, “Being in the region, any action on conservation, is a challenge. Gas is so cheap here and it is difficult to convince people even yourself. It takes an effort.”

Mayrink, feels that corporations have to get moving, “and act”. But he sees change, though. “The Earth Hour was followed; many of the high-rise build-

ings went dark at the appointed hour.”This, says Madgwick, is just the be-

ginning for HSBC, in two years time she predicts that all their initiatives will show results to prove their proactive approach. HSBC is also the presenting partner of Qatar Today Green Awards n

climate champions say:Ò Companies can play a major role in influencing its stakeholders (employees, business partners, clients and commu-nity) on the climate change cause, which as a consequence, may enhance its brand perception, longevity and profitability.”

Cristiano Mayrink Manager, CMB Sales – Payments and Cash

Management, HSBC

“Every drop fills the ocean”, hence, if each one of us endeavours to take an extra step in reducing our carbon footprints we can preserve the environment for our future generations.”

Shalini SharmaAssistant Manager Corporate Banking, HSBC

“The trip helped me un-derstand the need for each one of us to be responsible for the problems we face on Climate change.”

Ajay JosephIT Support Officer at HSBC

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QT-Oct.indd 69 9/30/10 4:19:39 PM


green scene

d HL gave its commitment to the green cause in Qatar when it signed a partner-ship deal with the 2010 edi-tion of Qatar Today Green

Awards (QTGA) – Qatar’s first environ-mental awards. The agreement for this partnership was signed on September 15, by Daniel Kearvell, Country Man-ager, DHL and Ravi Raman, Vice Presi-dent, Oryx Advertising Company WLL. DHL will now be the logistic partner for QTGA 2010.

Launched in 2008 with an aim of rec-ognising and rewarding worthy environ-mental initiatives, the QTGA generates tremendous awareness and interest among the participating sectors.

The awards recognise and promote ini-tiatives across a broad spectrum of activi-ties – from individual to collective efforts – of businesses, educational, medical, and governmental institutions, and individu-als.

QTGA provide environmental groups with a platform to make a coordinated effort, to create awareness and moti-vate participation in projects that are sustainable.

Logistic supportDHL is also the first global logistics company to set a targeted carbon dioxide efficiency target. Speaking about their commitment in Qatar, Daniel Kearvell said, “DHL has a dynamic corporate sus-tainability strategy with a strong focus on the environment through our compa-ny-wide GoGreen initiatives, which are implemented in over 220 countries. In Qatar, we have been particularly active this year in promoting environmentally sustainable behaviour, based around lo-cally-driven activities such as recycling campaigns, beach cleaning outings, no plastic days, and e-waste initiatives. We are delighted to join forces with Oryx for the QTGA, a partnership which will promote and enhance these efforts even further.”

“With over 70 registered entrees, Qa-tar Today Green Awards 2010 promises to enhance participation and partner-ship.”

Speaking about the 2010 campaign, Raman said, “This year’s adverto-rial campaign follows the theme ‘One World One Choice’ which echoes the fact that business houses must respond,

responsibly and urgently. While last year’s objective was to spread aware-ness, we intend to build on from there and launch several partner programmes at the grassroots level. We are also de-lighted that several companies have ex-pressed interest in this endeavour and they will be announced soon.”

Companies and institutions, who wish to apply for the various catego-ries can log on to www.qtgreenawards.com – a dedicated website created for the awards. They can select the category to enter (multiple entries are allowed) and submit their case studies. A panel of eminent judges will evaluate each case and shortlist them for the second round. Winners will be announced in a live event scheduled later in the year, and all nomi-nees will receive extensive coverage for their case studies and achievements.

Qatar Today is the country’s only Eng-lish news and business magazine. It is published by Oryx Advertising Co WLL- one of the oldest and biggest publish-ing house in Qatar. Established over 30 years ago, it is the only media house in the country that produces four monthly magazines n

Daniel Kearvell (R), Country Manager, DHL and Ravi Raman, Vice President, Oryx Advertising Company WLL.

DHL supports Qatar toDay Green awarDs

QT-Oct.indd 70 9/30/10 4:19:42 PM

QT-Oct.indd 71 9/30/10 4:19:46 PM


brakingnews 76.a drive with

beauties

nissan has introduced its latest member in the sports car sector – the 2011 Nissan 370Z Roadster possessing a convertible roof.

The Z Roadster’s exterior design includes its signature long nose/short cockpit proportions, vertical door handles and dis-tinctive new headlight/taillight treatment while the interiors have Bordeaux or Black perforated leather seats. The sporty steering wheel is a new ‘oval’ three-spoke design, which offers baseball-style stitching, improved thumb grips and palm rest areas.

Standard interior comfort and convenience features include Nissan intelligent key with push-button ignition, power win-dows, power auto-lock doors, automatic climate control, a Bose

audio system with eight speakers and MP3/WMA playback, Bluetooth hands-free phone system and aluminium-trimmed pedals.

Standard safety features includes the Nissan advanced air bag system with dual-stage supplemental front air bags with seat belt and occupant classification sensors, front seat-mounted side im-pact supplemental air bags, door-mounted curtain air bags and seat belts with pre-tensioners and load limiters.

The engine is a standard 328hp 3.7-litre DOHC V6 with vari-able valve event and lift control. Along with its larger displace-ment, the engine gives better power delivery to create an entirely new driving experience.

renault renews partnership withdame ellen macarthurRenault has renewed its partnership with Dame Ellen Mac-Arthur, retaining its position as a sponsor and car supplier to the yachtswoman for a further three years. In this capacity, Renault is one of the founding partners of the Ellen MacAr-thur Foundation, launched in September in London.

In 1995, Renault set up its environmental policy, aimed at reducing the ecological impact of its vehicles at every stage of their life cycle – from conception to manufacture, from use to their eventual recycling at their end-of-life. Renault’s policy is represented by its Renault Eco2 signature, a com-mitment to launch its first four zero-emission electric ve-hicles by the end of 2012 and its two-year partnership with Dame Ellen MacArthur, first signed in April 2008.

Renault has gone beyond this association with Dame El-len by engaging with her charitable foundation promoting sustainable mobility for all. The aims of the Foundation are to inspire the public to rethink, conceive and ultimately build a sustainable future. The company’s continued part-nership with MacArthur is an integral and logical element of the company’s ethical and environmental strategy.

toyota sponsors international Journalists meetAbdullah Abdulghani & Bros (AAB) was the main sponsor for the Press Conference symposium, an event which served as a platform to kick start Qatar’s bid to host the 2022 World Cup.

AAB, General Manager, Dr Mohammed A Al-Dorani said, “I am proud that our company was the main sponsor for this International Journalists meet where our nation, under the wise leadership of HH the Emir and HH the Heir Apparent, put our best efforts to justify our claim to ‘The Middle East region rep-resented by the State of Qatar is worth organising the World Cup Finals’.”

racing ahead with nissanÕ s 370Z roadster

Endorsed by:

Silver Sponsors:Gold Sponsors:

Exhibitors:

Supported by:

Media Partners: cial Fire Publication:

Condiment Sponsor:

QT-Oct.indd 72 9/30/10 4:21:30 PM

Endorsed by:

Silver Sponsors:Gold Sponsors:

Exhibitors:

Supported by:

Media Partners: cial Fire Publication:

Condiment Sponsor:

QT-Oct.indd 73 9/30/10 4:21:34 PM


braking news

panamera, the fourth series by Dr Ing h. c. F. Porsche AG, has upped demand within a year of its intro-

duction with 22,518 Panameras already delivered. The Gran Turismo has found a large fan-base, particularly in interna-tional metropolises.

Leading the sales market is North America with 890 vehicles in Los Angeles and 760 in New York. Interest in the four-

seater is also large in Asia – 300 Panam-era’s were delivered to Hong Kong, 223 to Tokyo and 188 vehicles to Shanghai. Encouraging figures were also reported in other cosmopolitan cities, such as Dubai (285), Moscow (203), Munich (206), Hamburg (117) and Berlin (108).

“Our corporate strategy of value-orient-ed growth has proven to be a successful model. With the Panamera, Porsche has

clearly positioned itself with the sportiest automobile in the high-end and luxury-class market and achieves already a 13% share in its segment today”, said Bernhard Maier, Member of the Management Board for Sales and Marketing, Porsche AG.

There are five models available in the new Gran Turismo series: Panamera and Panamera 4 with 300hp and a six-cylin-der-engine, Panamera S and Panamera 4S with 400hp and an eight-cylinder engine, as well as the Panamera Turbo with 500hp and an eight-cylinder engine.

cadillac will be unveiling the 2011 CTS Coupe and CTS-V Coupe, the latest of the brand’s series of new

designs to reach production. The CTS Coupe is a new luxury sports coupe de-signed to become the centrepiece of the brand’s line-up. The car, which the pro-duction version Coupes are based on, made its regional debut at the 10th Dubai International Motor Show in Decem-ber 2009, where it was revealed to great fanfare.

“We pride ourselves on the Cadillac

brand’s ability to maintain a balance of design, performance and technology,” said Fadi Ghosn, Marketing Director at GM Middle East, “and we are excited to raise the bar and further develop on these brand characteristics in the CTS Coupe and CTS-V Coupe, especially as we make it available to the customers in the Middle East.”

Building on the success of the CTS Sport Sedan and the 556hp CTS-V, the CTS Coupe and CTS-V Coupe join Cadillac’s line-up in the luxury segment.

get sporty with chevrolet captiva suv

t he new Chevrolet Captiva SUVÕ s sporty new look com-bines confident and dynamic

new styling while retaining its adaptable, theatre-style seating in three rows which accommodates up to seven passengers.

The new features are the sharp-ly sculptured hood, Chevrolet’s signature dual-port grille with the Chevrolet ‘bow-tie’ sited in the middle and the prism-style head-lamps and integrated LED turn signals on the outside rearview mirrors. The side air vents are more angular to emphasise the new CaptivaÕ s sportiness.

The chassis has been modi-fied to enhance vehicle dynamics and ride feel. The interior features all-new seat fabrics and interior decor appointments such as the ice-blue back lighting and the ‘wrap-around’ design of the front fascia.

The engine line-up, which is comprised of two gasoline engines (2.4L and 3.0L) aims at balancing performance and fuel economy.

cadillac unveils new luxury sports car

soaring demand for porsche panamera

QT-Oct.indd 74 9/30/10 4:21:40 PM

QT-Oct.indd 75 9/30/10 4:22:02 PM


braking news

w ith your hands on the wheel and a clear path ahead, an effortless drive may seem like a voyage in air. The

brand new Audi A8 L guarantees its pas-sengers just that – an experience of luxury and comfort. What better way to prove it than a test drive with the new models – the A8 L 3.0 TDI Quattro, the A8 L 3.0 TFSI Quattro, the A8 L 4.2 TDI Quattro, the A8 L 4.2 FSI Quattro and the A8 L W12 Quattro. And where better than the scenic

route from Salzburg to Munich, zooming past serene patches with speed and pride. The A8 L W12 Quattro stands well above the rest of the Audi line-up, both in looks and in power. The gasoline engine of the W12 has superior power and cultivation that makes it a power-packed beauty.

Power-packed elegance: A8 L enginesAll the engines of the Audi line-up – two TDI and three FSI gasoline units – come fitted with efficient technologies such as

the recuperation system and the innova-tive thermal management which increas-es power and torque, while improving fuel consumption.

The engine line-up spans a wide range, beginning with two three-litre V6 units – a TDI with 184 kW and a TFSI produc-ing 213 kW. The two V8 engines, both have a displacement of 4.2 litres, with the TDI producing 258 kW and the FSI 273 kW. The W12, a gasoline engine, de-velops 368 kW from a displacement of 6.3 litres.

a Drive witH beauties

QT-Oct.indd 76 9/30/10 4:22:06 PM


braking news

DecODing Design : auDi a8 L 4.2 Fsi quattrO

engine/eLectrOnicsengine type v8 engine with 90¡ v angle (4 valves/cylinder)

valve gear/number of valves per cylinder chain drive, continuous intake and exhaust camshaft adjustment, roller cam followers with hydraulic valve play compensation, 4

displacement in cc 4163/84.5 x 92.8/12.5

max power output in kw (hp)/at rpm 273 kw (372 hp) at 6800 rpm

max torque in nm (lb-ft)/at rpm 445 nm (328.22) at 3500 rpm

mixture preparation fsi direct injection with 120 bar system pressure, multi-hole injection valves, charge movement flaps in intake port and variable intake manifold

exhaust emission control two air-gap-insulated manifold converter modules with close-coupled ceramic catalytic converters, each with two oxygen sensors

emissions class eu 5/ulev2

alternator in a/battery in a/ah 190 (water-cooled)/450/95

recuperation temporarily stores braking energy in the battery, and thus aids driving off and acceleration

Drivetrain/transmissiOn

drive type Quattro permanent all-wheel drive with self-locking centre differential, esp

clutch hydraulic torque converter with lock-up clutch

transmission type eight-speed tiptronic with dsp and sport programme

gear ratio in 1st gear/2nd gear 4.714/3.143

gear ratio in 3rd gear/4th gear 2.106/1.667

gear ratio in 5th gear/6th gear 1.285/1.000

gear ratio in 7th gear/8th gear 0.839/0.667

Reverse gear/final drive ratio 3.317/3.204

suspensiOn/steering/brakes

front suspension five-link front suspension, upper and lower wish-bones, tubular anti-roll bar, air suspension

rear suspension trapezoidal-link suspension with wishbones, tubular anti-roll bar, air suspension

steering/steering ratio/turning circle in metres (d102) (feet)

maintenance-free rack-and-pinion steering with speed-dependent power assistance/15.1/approx 12.7 (41.67)

brake system dual-circuit brake system with diagonal split with esp/abs/ebd, brake booster; hydraulic brake assist; front and rear disk brakes: ventilated; electromechanical parking brake

wheels/tires lightweight forged aluminum wheels 8.0Jx17/235/60r17 102y

An anticipated debut: Audi A8 L 4.2 FSIThe full size A8 L 4.2 FSI sedan embod-ies the renowned ‘Vorsprung Durch Tech-nik’ approach and has had its length and wheelbase stretched by 13cm. The extra space created is of particular benefit to rear passengers.

The A8 L 4.2 FSI offers two power-adjustable and heated individual seats in the rear, which can be optionally paired with the spacious centre console. The

seats also come equipped with optional ventilation and massage functions, and features such as deluxe headrests and ad-ditional fold-down compartments in the rear armrest of the doors. Pampering you further is the attractive multimedia mod-ules comprising a high-end sound system from Bang & Olufsen and a UMTS mod-ule which provides internet connectivity. From the ambient lighting, to the four-zone automatic climate control system, comfort on board is guaranteed.

auDi a8 L 4.2 Fsi quattrO

QT-Oct.indd 77 9/30/10 4:22:21 PM


braking news

perFOrmance/cOnsumptiOn/acOustics

top speed in km/h (mph) 250 (155.34) (governed)

acceleration, 0-100 km/h (0-62.14 mph) in sec 5.8

fuel/octane value premium sulfur-free according to din en 228/95 ron

fuel consumption: city/highway/combined, l/100 km (us mpg)

13.6/7.4/9.7 (17.3/31.79/24.25)

co2 mass emission, g/km (g/mile) 316/171/224 (508.55/275.2/360.49)

idling/drive-past exterior noise level in db (a) 75/73

A new age of technical advancement is stated clearly with the Audi. The multi-media interface along with the navigation system in the A8 L 4.2 FSI comes with a touchpad, which enables the driver to control many functions intuitively. The night vision-assisted highlights detected pedestrians and with the display of the relevant speed limit, one is sure to drive safely. The parking system with sensors

is also handy. The 4.2 FSI engine draws a power of 273 kW from a displacement of 4,163 cc and 445 Nm of torque at 3,500 rpm. The highly cultivated V8 accelerates the large sedan from zero to 100 km/h in 5.8 seconds.

Revolutionising the technology and appearance aspects, the 4.2 FSI body is an aluminium Audi space frame offering optional LED headlights that use light

“The new Audi A8 expresses Vorsprung durch Technik to the

ultimate and will there-fore set a new bench-

mark in the premium segment. dealers have

already started taking orders ahead of

the launch.”

Jeff Mannering, Managing Director of

Audi Middle East


QT-Oct.indd 78 9/30/10 4:22:32 PM


braking news

weights/LOaDs

unladen weight in kg according to eu (excluding driver)/ gross weight limit in kg (pounds)

1885/1960/2535 (4155.71/4321.06/5588.72)

axle load limit at front/rear in kg (pounds) 1305/1380 (2877.03/3042.38)

trailer load limit on 8%/12% gradient, braked/unbraked in kg (pounds)

2300/2300/750 (5070.63/5070.63/1653.47)

roof load limit in kg/permissible nose weight in kg (pounds)

100/95 (220.46/209.44)

capacities

Engine oil capacity (including filter) in litres (US quarts) 7.7 (8.14)

fuel tank capacity in liters (us gallons) 90 (23.78)

bODy / DimensiOns

body type/number of doors/seats aluminum: audi space frame asf/4/5

Drag co-efficient Cd/frontal area A in m2 (square feet) 0.26/2.41 (25.94)

length (l103)/width excluding mirrors (w103)/height (h101-m), mm (feet)

5267/1949/1471 (17.28/6.39/4.83)

wheelbase (l101)/track at front/rear (w101-1/w101-2), mm (feet)

3122/1644/1635 (10.24/5.39/5.36)

height of loading lip in mm (h196) (feet) 690 (2.26)

luggage capacity in liters (cubic feet), according to vda block method (v211)/rear seat bench folded

510/- (18.01/-)

emitting diodes for all light purposes. With the Audi exclusive programme, op-tional inlays in aluminium or woods are offered as well as the colours for interiors and seat coverings from brown, beige to black and grey.

Managing Director of Audi Middle East, Jeff Mannering, said, “The new Audi A8 expresses Vorsprung durch Technik to the ultimate and will therefore set a new benchmark in the premium segment. The feedback from the region has been mas-sive and the dealers have already started taking orders ahead of the launch. It fits perfectly with the regions demand for ul-timate luxury and the latest technologies, so we expect it to become our top selling model along with the Q7 and Q5.”

Alluring without a doubt! All of the Audi A8 L models captivate with their timeless elegance, luxurious ride comfort and a polished look. So choose one that suits your needs and get set to zoom n

the Audi A8 L 4.2 FSI


QT-Oct.indd 79 9/30/10 4:22:35 PM

10.101010 0101010 10010 100010 10101 0010

O&gOverview

Charriol has introduced a new fra-grance for men – Royal Gold – which brims with luxury, refinement and rare aesthetics.

The top notes have a spicy scent of ginger with berries added to soften the intensity of ginger. A woody middle note comprises of refined iris and amyris pro-ducing a seductive and masculine orien-

tal incense and it subtly gives way to the base notes of patchouli oil, amber and gaiac wood which brings out mystery and sensuality to the perfume.

Sealed in a golden square shape bottle, the perfume is a concoction of intense spices, sumptuous flowers and precious woods fusing to produce an exceptional fragrance.

etihad airways takes off with first femalecaptain

e tihad Airways celebrated the maiden commercial flight of its first female Captain, Sophie Blanchard, who took controls of

the left-hand seat in the flight deck for the first time for flight EY17 from Abu Dhabi to London Heathrow.

Blanchard, a French national, joined Etihad in 2007 as a First Officer, after initially flying for Etihad Crystal Cargo with Air Atlanta. Since joining Etihad, Blanchard has been able to complete the necessary training and pass the rigorous checks to gain her fourth stripe.Etihad Airways, Chief Operations Of-ficer, Captain Richard Hill said, “We

congratulate Blanchard on becoming Etihad’s first female captain. It’s a great achievement and well deserved as she has shown tremendous dedication to achieve the rank of a captain.”

Blanchard said, “It is a great privilege to become Etihad’s first female captain and the company has been very support-ive in my aim.” Etihad currently has 10 female pilots within its ranks and four female cadet pilots.

charriolÕ s luxury scent: royal gold

88.salahuddin a hero revived

marketwatch

Jet airways group registers highest Ô on timeÕ performanceJet Airways, India’s premier international airline, and JetLite, its subsidiary, have registered the highest ever ‘on time’ per-formance with 94% and 94.1% respec-tively, even as it garnered a 27% market share; further consolidating on its leader-ship position for August 2010 as per the statistics released by the Director General of Civil of Aviation. The Jet Airways group registered a 21.8% increase in international operations as compared to the same period last year, carrying .37 million revenue passengers in August. The revenue passengers for Jet Airways’ domestic operations also stood at an imposing 14.9%, an improvement over the same period last year. JetLite also posted an increase of revenue pas-sengers by 6.1%, carrying over .3 million passengers in August. The domestic op-erations registered a seat factor of 70.4% in August, as against a seat factor of 70% in August 2009, carrying over .78 million passengers. Jet Airways, CEO, Nikos Kardassis said, “Jet Airways’ customer centric ap-proach, with a clear focus on providing enhanced global connectivity, high stan-dard of service offering with consistent ‘on time’ performance has enabled us to become the airline of choice and sustain our leadership position.”

Sophie Blanchard, Etihad Airways’ first woman

Captain.


QT-Oct.indd 80 9/30/10 4:23:42 PM

QT-Oct.indd 81 9/30/10 4:23:44 PM

consolidated Gulf Co. (CGC) or-ganised a week-long fun tour of Thailand for its best performing Nokia business partners as part of

the CGC business reward programme. A total of 30 achievers made it to the exclusive excursion list. They visited the capital Bangkok and beautiful Pat-taya city among others to celebrate their

successes. Anil Mahajan, Chief Operating Officer

of CGC, and Hayssam Yassine, Nokia Sales Manager, also joined in to cheer the winning team. The highlight of the tour was a special gala night hosted in Pattaya to honour the ’best among equals’.

Mahajan said, “This trip is hosted to acknowledge the contribution of the busi-

ness partners and to further strengthen the bonding between CGC and dealer sales personnel, ensuring Nokia’s leading posi-tion in Qatar. Being the market leader, it’s our responsibility to lead from the front and make sure that these wonderful in-centives help in keeping the morale of the CGC Nokia team high to work together to drive best results.”

tHE One’s Autumn 2010 Collection is an assortment of home fashion trends from around the world to appeal to international tastes. The ‘Manhattan Chic’ style combines classic and the modern

in a glamorous interpretation of an uptown New York penthouse in-fused with the glimmer of chrome, mirror and glass, whispering ele-gant sophistication. ‘Out of Africa’ is an idealistic interpretation of a safari lodge which characterises classic colonial design with quality and comfort. The earthy colour palette provides the perfect backdrop for the cosy, lived-in look.

‘Pure & Simple’ is a balanced blend of the classical and the ex-perimentally ultra-modern where clean, slim lines and glossy white surfaces contrast with raw wood, weathered metal, organic roots and rubber. The soulful look radiates natural beauty and feels good. ‘Tribal Rock ‘n’ Roll’ is a moody mix of eclectic pieces, strong pat-terns and lustrous fabrics in deep, rich tones with dark and painted woods, leather, metal. Detail, volume and ethnic embellishments are key features of this wildly eccentric style. Classic Northern European influences fuse with modern design in ‘Timeless Elegance’, creating a feminine, soft and sumptuous style. A muted colour palette forms a backdrop to stainless steel and glass, dark woods and geometric shapes, while linen adds comfort and warmth. Five trendy deco options for a beautiful autumn feel!

cgc rewards business partners with thailand tour

the one: planet fusion


market watch

THE One Ð Manhattan Chic Living.

THE One Ð Out of Africa Living.

THE One Ð Timeless Elegance Living.

CGC officials and Nokia dealer partners in Thailand.

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lgÕ s bd570 player offers unlimited contentlG Electronics (LG) introduced the

BD570, a Wi-Fi equipped Blu-ray Disc player which enables internet or home network connection, bringing

a wider variety of entertainment options to the living room. Wireless internet access allows the BD570 to show web videos on a large HD TV. This highly-connected Blu-ray player also provides convenient access to information like local and global weather forecasts from Accuweather. The BD570

connects via Wi-Fi to computers on a home network or DLNA (Digital Living Network Alliance) – compatible storage devices and with a single HDMI cable to most TVs.

Video Home & Electronic Centre, the sole distributor of LG in Qatar, Director and General Manager, C V Rappai said, “We included connectivity on the BD570 that allows it to bring an incredible array of audio, video and other entertainment to their TVs.”

grand openings at intercontinental doha

the fully renovated Al Wajba Ballroom at InterContinental Doha has reopened with a new look and with added features such as video-conference facilities, ceil-ing LCD projector and full spectrum LED lighting. It is ideal for banquets, wed-dings and conferences and can host up to 800 people.

The latest entrant at the hotel is the new Belgian Cafe. It is the first Belgian restaurant in Doha and boasts a menu featuring traditional Belgian dishes in addition to exclusive Belgian beverage menu.

“Belgian Cafe is a relatively new concept, featuring a traditional Belgian style res-taurant known for its unique array of food and excellent beverages. The cafe offers relaxing evenings and food that doesn’t exist anywhere else in Doha,” said Hafidh Al-Busaidy, General Manager, InterContinental Doha.

Apart from these grand openings, the hotel has a chain of food promotions and theme nights in the month of October at its various restaurants including Paloma, Fish Market, The Cafe Restaurant, Lava, Mykonos and Belgian Cafe.

get street smart with adidas originals collection

t his Fall/Winter 2010, Adidas Origi-nals offers two new streetwear col-lections which redefine the street look.

The Japanese inspired streetwear line, OT-Tech fuses iconic Adidas Originals assets with Tokyo streetwear styles, the apparel, footwear and accessories show-case clean designs with a technical touch and winter graphics. Definite highlights are the windbreakers and shell jackets, hike boots and the ZX special boots.

For the women, Adidas Originals has come up with Relace, a sporty, feminine and casual collection, which uses shoe laces as styling tools on both footwear and apparel. Relace carries famous clas-sics such as the Super girl Track Top as well as footwear styles like the Relace Mid and the Relace Boot both equipped with laces and eyelets to change the styl-ing.With Adidas Originals, streetwear just got trendier.

Belgian Cafe


market watch

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DOhaDiary a contemporary

look at islamic art90.

mohammed Essa Al-Mannai, a junior lawyer at Qatar Petroleum became the first ever Qatari to become an

English Barrister and join the ranks of the most distinguished legal profession in the world.

Head of McNair Chambers Qatar and London, Queens Counsel, Professor Khawar Qureshi said, “We are immense-

ly proud of Al-Mannai’s achievement. We are delighted that he took our advice and worked hard to become a barrister. We have made it a core of our presence in Qatar to ensure that we fully contrib-ute to Qatari society. We encourage Qa-tar’s youth to work hard and aim high. Education is the passport to greater un-derstanding of the challenges and oppor-tunities provided by the modern world.”

mannai Corporation Q.S.C. and its employees are help-ing the people in need of ur-gent humanitarian relief fol-

lowing the devastating floods in Pakistan with a donation of QR75,000 through the Qatar Red Crescent Society (QRCS).

Mannai employees contributed half (QR37,500) of the corporation’s Pakistan relief donation as part of its corporate so-cial responsibility and social mission as a loyal Qatari corporation.

“Mannai is keen to participate in efforts aimed at helping people rebuild commu-nities, which reinforce the positive im-age of Qatar and its people’s generosity and maximise the concept of cooperation between nations in serving humanitarian causes,” said Alaa Elebiary, Chief Human Resource and Administration Officer, Mannai.

Mannai’s donation to the QRCS pro-vides emergency shelters, non-food items such as hygiene kits, jerry cans, hurricane

lamps and tarpaulin sheets, food items, water, sanitation and medical equipments for 5,000 struggling families.

Alaa Elebiary receives Certificate of Appreciation from Adel Ali Al-Baker,

Director of QRCS General Manager office.

Mohammed Essa Al-Mannai, the first Qatari Barrister

Dr Tricia Kerr, Assistant Professor of Educational

Sciences, CED

q atar University’s (QU) College of Education (CED) will shortly open a teaching and learning unit which will offer professional

development courses and workshops to teachers and academic coordinators of science and math. “The objective of the courses and workshops is to strengthen the teachers’ capacity and effectiveness in improving the knowledge and un-

derstanding of students in science and maths,” said Dr Tricia Kerr, Assistant Professor of Educational Sciences, CED.

Commenting on the new unit, CED, Dean Dr Hissa Sadiq said, “The new unit will ensure that teachers in Qatar contin-ue to be engaged in advancing the quality of teaching and learning in the nation’s schools towards achieving Qatar National Vision 2030.”

Mannai Corporation aid pakistan floods viCtiMs

MCnair trains first Qatari Barrister

QU aiMs at iMproving edUCation in QatarÕ s sChools

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DOha Diary

v irginia Commonwealth Univer-sity (VCUQ) fashion design stu-dent Selina Farooqui’s collection will be sold at the prestigious

boutique Cugini in the Pearl Qatar.Farooqui was approached by Cugini,

after the VCUQ Annual Fashion Show in May this year, for which she designed a luxury ready-to-wear collection con-sisting of interchangeable separates such as jackets, blouses and dresses. The ‘India-inspired’ collection features a lot

of handwork, braiding details and deco-rative edgings in fabrics ranging from fine silks, brocades, golden embroidered georgettes and cottons.

“It is such an honour to be selling my clothes at Cugini. I think it’s great that they are being supportive of young de-signers and local talent,” says Farooqui who believes having the opportunity to design and sell her collection at a bou-tique like Cugini has helped her focus on what she wants to achieve in the future.

Selina Farooqui, VCUQÕ s fashion design student with her collection at Cugini.

in celebration of Doha as Arab Capi-tal of Culture 2010, the Qatar Muse-ums Authority (QMA) has launched ‘In Our Time – The World as seen

by Magnum Photographers, 1936-1987’, a photography exhibition in collaboration with Magnum photos. Members of Mag-num make up the elite of the photography world. The exhibition was at the QMA gallery at the Cultural Village.

The displayed photographs are all orig-inal prints, covering the political events in the1936-1987 period, captured through the lenses of Magnum photographers. The events span from World War II and demonstrations against the Vietnam War

to the funeral of the Egyptian President Gamal Abdul Nasser in 1970.

Photographs include those of high-profile personalities who influenced 20th century history, such as Queen Elizabeth II, the revolutionary Ernesto ‘Che’ Gue-vara and the French President Charles de Gaulle. The collection also includes photos that depict the natural beauty of places such as the Amazon River in South America and the Himalayas in Indian-controlled Kashmir.

CUgini showCases vCUQ stUdentÕ s fashion ColleCtion

QMa laUnChes photo-exhiBition

footBall pitCh inaUgUrated at YarMoUk CaMp

t he Qatar 2022 Bid Committee, in partnership with the Unit-ed Nations Relief and Works Agency for Palestine Refu-

gees in the Near East (UNRWA), inaugurated a brand new foot-ball pitch, built to FIFA stan-dards and specifications, at Yarmouk Camp in Damascus, Syria on International Peace Day.

The project is part of Qatar 2022’s ‘Generation Amazing’ football and social development initiative. Fo-cusing on football infrastructure development and leadership pro-grammes for coaches, teachers and students, the initiative hopes to cultivate a new generation of leaders and sustainable sport and social development.

Director of UNRWA Affairs in Syria, Roger Hearn said, “Our im-mense thanks go to Qatar for this generous contribution that comes at a crucial time for UNRWA’s work with Palestinian refugees. This project is one of many which will improve the lives of young Pal-estinian refugees living in camps in Syria.Ó

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DOha Diary

on September 16, hundreds of chil-dren flocked to Aljazeera Chil-dren’s day-long chain of festivi-ties, while their parents thronged

to secure a share of excitement from their little ones.

The ‘Open Day’ was full of sports and cultural contests for children and was dedicated to the launch of Aljazeera Chil-dren’s new production – the Salahuddin animation series. A premiere of the first episode was screened. A few minutes af-ter the screening, the little viewers had so much to ask and one of them, the bold-est threw his question at a prestigious gathering: “Are you the filmmakers?”

“Yes son,” said Mahmoud Bunab, the Executive General Manager of Aljazeera Children.

“Is this the top technology you prom-ised? We watched Avatar. How do you compare with them?” the child contin-ued. It was with this anecdote that Bun-ab opened his press conference on the same day.“The Arab child is open-mind-ed, strict and critical. Our children are looking for a hero!”

Salahuddin is inspired by the all-time Muslim Hero of Hattin, Saluddin Al-Ayyubi, who in the Battle of Hattin (1187) put an end to the Kingdom of Jerusalem, conquered by Crusaders. Aljazeera’s $8.5 million production depicts, in a rivet-ing style an early stage of Salahuddin’s life, his relationship with family and friends, as well as his attachment to his homeland.

It is the first TV series to be co-pro-duced by two Muslim countries – a joint team from Aljazeera Children and the Multimedia Development Corporation (MDeC), a creative agency affiliated to the Malaysia government and took the project from inception to finalisation throughout three years.

Parallel PrecedentBunab said Salahuddin was the first ani-mation to be rendered in two parallel ver-sions – Arabic and English.

“We wanted to allow Salahuddin and his co-stars to speak to Arabs and non-Ar-abs alike, rather than in a dubbing mood.

“Salahuddin is the child of a happy co-incidence when we met with a team from the MDeC in a European software exhibi-tion. They showcased a short film about Salahuddin’s life. We liked the idea and proposed cooperation.

“Our plan was not to reproduce the hero’s biography. We tried to composite a heroic figure from the roots of Arab and Muslim history. The ideal candidate would be a personality with a global depth and moral meaning.

“We believe this initiative marks a turning point towards the development of animation industry focused on the Islamic world and taking care of its nuances.

“We are grateful to Her Highness Sheikha Mozah bint Nasser Al-Missned, President of Qatar Foundation for Edu-cation; Science and Community Devel-opment, for the support that made it all possible. Also the Malaysian government under former Premier Abdullah Badawi and current Premier Najib Abdul Razak made tremendous effort to make our co-operation a successful one.”

Salahuddin, appropriate for children of 9-15 years, was made into 26 episodes, will be broadcast in two seasons.

Aljazeera Children has started broad-casting it weekly since September 17 at 6 pm.

The Qatari network and Malaysian partner are exploring the possibility of producing a 3D feature film on the real history of Salahuddin. They are stepping up effort to secure wide-scale distribution of their products n

saLaHuDDina hero revived

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DOha Diary

q atar’s culture scene has never looked as dazzling as it does now with Doha aiming to be the permanent Arab Cultural Capital. Calligraphy Exposi-

tions, Contemporary Art exhibitions, Pho-tography exhibits and now Christie’s, with its office based in Dubai, is reaching out to patrons in Doha. As part of the series of events planned for the Arab Cultural Capi-tal, Christie’s hosted a public art exhibition over three days from October 3-5, show-ing highlights of modern Middle Eastern art from the collection of Dr Mohammed Said Farsi, the first Lord Mayor of Jeddah in the Kingdom of Saudi Arabia and one of the region’s patrons of visual arts.

Qatar Today spoke to Will Lawrie, Specialist of Modern and Contempo-rary Arab & Iranian Art about some ba-sics of the auction and takes his expert opinion on the process of choosing fine modern art.

Lawrie, with an early interest in the re-gion initiated by his childhood memories of summers spent in his Egyptian friend’s house, and backed by his degree in the History of Art at Edinburgh University, specialising in Islamic Art, has been in-vestigating the option of including Con-temporary Arab and Iranian art in auc-tion. After the inaugural auction held in Emirates Towers in Dubai, the category of Contemporary Arab and Iranian art has been included as a permanent feature on Christie’s auction calendar.

“In classic Islamic art it must be the geographical scope – from Morocco to Indonesia – and the fact that you can find

cultural and artistic links everywhere in between and going back many centuries,” he says of the one factor that fascinates him in Islamic Art.

Middle Eastern Art and Christie’sThe art market in the Middle East is still young and needs more time to develop fully, says Lawrie though, “Christie’s is very excited by the pace of development in the art market in the region.”

He speaks of the wide interest garnered in the region after the inaugural auction in Dubai in 2006, “after which, the aware-ness and appetite for art in general and for Middle Eastern Art in Dubai has in-creased significantly.”

“At Christie’s, we have now sold over $165 million worth of art since 2006 and sold over 1,000 works by Middle Eastern artists, so the demand is increasing at a rapid rate. This phenomenon can further

be illustrated by the growing number of galleries in the region (over 60 in UAE today, from fewer than 10 just five years ago), art fairs in Dubai, Abu Dhabi, Leba-non; museum projects in Abu Dhabi and Doha...”

Asked whether the interest garnered is more for contemporary art than for other forms of art, Lawrie says that is not the case.

“Contemporary Middle Eastern art is close to people’s hearts, but there is also very strong interest in jewellery and watches, as we have seen from Christie’s auctions in Dubai. There is also strong interest in classical Islamic art and an increasing interest in contemporary art from the West.”

a contemporary Look at isLamic art

By Sindhu Nair

Will Lawrie, Specialist of Modern and

Contemporary Art and Iranian Art

look out for..."Just to name a few of my favou-rite artist and in no particular order: Dia Azzawi, Ahmed Moustafa, Paul Guiragossian, Abdul Hadi El-Gaz-zar, Hamed Nada, Mahmoud Said, Parviz Tanavoli, Charles Hossein Zenderoudi, Farhad Moshiri, Yousef Ahmed and Mohammed Ehsai. But there are so many more important artists active in the Middle Eastern art scene. "

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DOha Diary

The Doha interestWhile Christie’s sees a very strong par-ticipation from clients in UAE, both lo-cal and expats, there is an equally strong interest from clients around Middle East, such as Saudi, Qatar and even in Egypt.

“We are also seeing increasing inter-national participation in the Dubai sales, with approximately 30% of the works in these sales now being bought by in-ternational collectors in Europe, US and elsewhere.”

This, says Lawrie, is very important as it shows that the demand for Middle East-ern art is internationalising and the depth of buyers is increasing.

So will Christie’s be looking at a Doha office for its operations?

“Dubai, home to Christie’s Middle East operations, is a hub from which we can reach out to all our Middle Eastern cli-

ents. Christie’s has undertaken many ini-tiatives to help increase the awareness of art, from our auctions in Dubai, to exhibi-tions in Abu Dhabi, Qatar and Lebanon; to education seminars in Dubai, Abu Dha-bi, Kuwait and Egypt; as well as charity auctions throughout the GCC.”

Christie’s sales in Dubai“Christie’s April auction in Dubai”, says Lawrie, “was extremely successfull with combined sales of $23 million for our Contemporary Middle Eastern art, jewellery and watches auctions.”

Highlights included the sale of a work for $2.4 million by the Egyptian artist Mahmoud Said, the world record price for any Arab artist at auction.

The next round of auctions in Dubai in October, is on the awaited list for Chris-tie’s, with a combined pre-sale estimates in excess of $20 million.

Art as an investmentArt is a tangible asset that is viewed as good value. As a result, says Lawrie, the art market has attracted a lot of interest over the last 18 months as the global financial uncertainty has seen inves-tors look for lucrative areas to put their capital.

“It is fair to say that the Post-War and contemporary art market in general has at-tracted more interest as an alternative as-set class over the last 10 years. However since 2008 and the global financial crisis, we have seen speculators exit the market and traditional collectors that were previ-ously priced-out return.”

This is as valid for the contemporary art market in the Middle East, as for the international market, feels Lawrie.

But Christie’s advice, says Lawrie, is to buy for aesthetic reasons and to buy what they like, rather than for investment alone n

The highlights of the sale are works from the renowned private collection of Dr Mohammed Said Farsi, which is recognised as the most comprehen-sive group of modern Egyptian art in private hands. It includes paintings by many of Egypt’s most famous 20th Century artists such as Mahmoud Said, Ragheb Ayad, Abul Hadi El-Gazzar, Hamed Nada, Seif and Adham Wanly and Adam Henein. The high-

light of this collection is The Whirl-ing Dervishes, a spectacular early work by Mahmoud Said (1897-1964), painted in 1929. The work represents six Mawlawi dervishes, each identi-cally clad and with similar features but subtly different postures, performing a Sema dance around the circular stage of an Ottoman-era Semahane (ritual hall). The estimate for this work is $300,000-400,000.

guide to buy-ing the best modern art “Art is something you live with and not just an investment. First and foremost, buy something you can live with, that you can take pleasure in. When you find out more about the art and the artists, your greater knowledge will add to your enjoy-ment of collecting and will inform your buying habits.”

Do your research – find out what you like.

Try to find out about the trends in pricing over a number of years.

Always buy the best that you can afford. It is always better to buy one painting you really value rath-er than two or three that mean less to you.

the highlight

QT-Oct.indd 91 9/30/10 4:25:53 PM

Cliveden House Luxury Hotel, BerkshireRazed to the ground and rebuilt twice since 1666, the Cliveden House has enjoyed a long and infamous history. Owned at times by dukes, an earl, a Prince of Wales and the Astor fam-ily, it was the glamorous backdrop to the Profumo Affair in the 1960s. On a 376-acre estate with stunning views of the countryside and the River Thames, the hotel has 39 richly deco-rated rooms named after important guests or visitors.

The Ritz Hotel, LondonFounded in 1906, this London land-mark is lavishly decorated, with the emphasis firmly placed on opulence. There are 137 Louis XVI-style rooms and suites, decorated in peach, pink, blue or yellow and furnished with heavy silk curtains, elaborate light fittings and elegant antiques. There is a ‘no jeans’ rule and gentlemen must wear a jacket and tie in the restaurant and Palm Court.

The Balmoral Hotel, EdinburghThe Balmoral is the Grande dame of the Scottish capital overlooking the train station. The Number One restaurant and less formal Hadrian’s are both popular; the Palm Court is open for afternoon tea and cham-pagne. There is a spa and 15-metre swimming pool. The 168 rooms and 20 suites are decorated elegantly us-ing muted colours inspired by the Scottish landscape.

Four Seasons Hotel George V, ParisA grand palace hotel built in 1928 close to the Champs-Elysèes. There are 245 rooms and suites, many with private terraces. Public areas are im-pressive with high ceilings, serious antiques, tapestries, and lavish floral displays.

Hotel Cipriani, VeniceThe legendary Hotel Cipriani, man-aged by Orient-Express, is reaching the end of a massive, three-year re-furbishment to renovate its rooms, spa and public areas. There are now 82 bedrooms and suites in the main building and 16 in the adjacent, 15th-century Palazzo Vendramin.

Hotel Adlon Kempinski, BerlinClose to both the Brandenburg Gate and the Reichstag, this historic hotel is in a prime location. In business for just over 100 years, it was burned down in 1945, was rebuilt in 1997 and renovated in 2007. Some of the 304 rooms and 78 suites have views of the Academy of Arts.

Ellerman House, Cape TownWith glorious views over Bantry Bay, this beautiful boutique hotel is the former home of shipping magnate Sir John Ellerman. Famed for its exten-

sive art collection and 15,000-bottle wine cellar, it has just nine elegant rooms and two suites. There is a heat-ed pool in the landscaped gardens, and a spa. The three-bedroom Eller-man Villa has a private chef and butler service.

The Ritz-Carlton, DubaiThis Mediterranean-style resort on Jumeirah Beach is one of the smaller five-star properties in Dubai. Sur-rounded by landscaped gardens, it has 138 rooms, with either a pool, gar-den or sea views. Facilities include a Balinese-style spa and a kids’ club.

The Oberoi, MauritiusSet in 20 acres of sub-tropical gardens on the north-west coast of Mauritius, The Oberoi has 71 villas and pavil-ions, all with four-poster beds and marble bathrooms. Each villa has a private garden; some have private pools.

The Taj Mahal Palace & Tower, MumbaiThe venerable Taj Mahal Palace & Tower reopened its doors in Decem-ber 2008, just a month after it was attacked by terrorists. The complete refurbishment has restored it back to its previous glory.

Source: www.cnntraveller.com

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