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inside this issueJune / July 2018 / Vol. 44 / Issue 03

COVER STORY

34 OIL PRICE HIKE: SHOT IN THE ARM FOR GCC

Qatar Today speaks to experts about the latest developments in the energy market and what’s in store for the GCC economies.

46 A CATCH-22 SITUATION A new research paper unravels the problems associated with

renewable energy incentive policies.

48 HANDLING WITH CARE Nils Pries Knudsen, CCO of Swissport International Ltd., leading

providers of ground handling and air cargo services worldwide, speaks exclusively to Qatar Today.

50 CLOUD NINE Oracle’s Vice President of Business Applications, Rahul Misra, talks

about the company’s presence in Qatar.

16 SETTING THE BENCHMARK FOR CLIENT SATISFACTION

Joseph Abraham, Group CEO of Commercial Bank, talks about the various activities that the bank has been involved in this year.

20 WINNERS ALL THE WAY Qatar recently witnessed the sixth edition of the Al Attiyah

Energy Awards function, which was held during a gala dinner at the Museum of Islamic Art.

28 HOW FAST CAN YOU ACHIEVE A SECOND NATIONALITY?

Indians, Pakistanis, Syrians, Egyptians and Sudanese residing in Qatar are at the top of the list of demand for second citizenship.

32 ADDRESSING QATAR’S ECOLOGICAL CONSCIOUSNESS

Of late, Earth Talks Qatar has gained a reputation for attracting leading academics, thinkers and activists from all over the world.

inside this issue

and regulars08 NEWS BITES

11 REALTY CHECK

12 BANK NOTES

13 OIL & GAS REVIEW

52 TECH TALK

54 AUTO NEWS

56 MARKET WATCH

58 DOHA DIARY

June / July 2018 / Vol. 44 / Issue 03

PUBLISHER & EDITOR IN CHIEFYOUSUF JASSIM AL DARWISH

MANAGING DIRECTOR & CEOJASSIM YOUSUF AL DARWISH

MANAGERDR FAISAL FOUAD

EDITORIALCHIEF EDITOR

IZDIHAR IBRAHIMSENIOR CORRESPONDENTS

UDAYAN NAGKARIM EMAM

ARTSENIOR ART DIRECTOR

MANSOUR ELSHEIKH DEPUTY ART DIRECTOR

AYUSH INDRAJITH

ADVERTISING MANAGERSONY VELLATT

EVENTS OFFICERGHAZALA MOHAMMED

ACCOUNTANT

PRATAP CHANDRAN

PUBLIC RELATIONS OFFICERESLAM ELMAHALAWY

DISTRIBUTION DEPARTMENTBASANTA POKHREL

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from the deskThe month of June proved to be a landmark of sorts, as it marked an entire year of the Saudi Arabia-led blockade imposed on Qatar on June 5, 2017. The nation continues to hold its own as its saga of resistance and resolve reached new heights. Describing the UAE’s role in the blockade as a violation of human rights, the Qatar government recently said that it was taking its GCC neighbour to the United Nations’ International Court of Justice. In another major move, the Qatar cabinet met with Prime Minister and Interior Minister HE Sheikh Abdullah bin Nasser bin Khalifa Al Thani to take the necessary steps to issue the draft law on a permanent residency card.

At the long-awaited summit in Vienna on June 22, OPEC agreed with Russia and other oil-producing allies to raise output from July, with Saudi Arabia pledging a “measurable” supply boost but giving no specific numbers. Our Cover Story tracks all the developments prior to the Vienna meet, which led to oil prices touching $79 per barrel globally.

In our other prominent stories, Qatar Today speaks to Nils Pries Knudsen, CCO of Swissport International Ltd., the leading providers of ground handling and air cargo services worldwide; we also have an exclusive interview with Oracle’s Vice President of Business Applications, Rahul Misra, who talks about the company’s growing presence in Qatar.

Our Viewpoint section consists of a research paper which unravels the problems associated with renewable energy incentive policies, in addition to opinion pieces on dual citizenship and Earth Talks Qatar, which is attracting leading academics, thinkers and activists from all over the world.

We round things out with a special feature on the Al Attiyah Energy Awards 2018, which includes quotes from former Chairman and CEO of ExxonMobil, Lee Raymond, who played a major role in the merger of Exxon and Mobil that overtook BP as the largest global oil company.

Happy Reading!

8 > QATAR TODAY > JUNE/JULY 2018

affairs > local

The first piece was Creed’s mutable ‘Everything is Going to be Alright’, while the second installation by Al Khater, ‘A Blessing in Disguise’, introduces Qatar to another creative commentary.

Qatar had also recently announced the banning of products from the blockading countries – the UAE, Saudi Arabia, Egypt and Bahrain.

“Products originating from the blockading states, which as a result of the blockade cannot pass the Gulf Cooperation Council Customs Territory, have to undergo proper import inspections and customs procedures,” said a government statement.

“To protect the safety of consumers in the State of Qatar and to combat improper trafficking of goods, the government issued a directive to find new suppliers of the variety of goods impacted.”

To mark the anniversary of the Saudi Arabia-led blockade on Qatar on June 5, 2017, Qatar Museums (QM) unveiled two public art installations by British artist Martin Creed and emerging Qatari ARToonist Ghada Al Khater.

QATAR HANGING TOUGH, A YEAR AFTER BLOCKADE

“As set forth in detail in Qatar’s application to the International Court, the UAE led these actions, which have had a devastating effect on the human rights of Qataris and residents of Qatar,” the government said in a statement.

The Qatari government said that the UAE enacted a series of measures that discriminate against Qataris, including expelling them from the UAE, prohibiting them from entering or passing through the UAE, ordering UAE nationals to leave Qatar, and closing UAE airspace and seaports to Qatar.

Qatar said it believed the actions were in violation of the International Convention on the Elimination of All Forms of Racial Discrimination (CERD) – including discrimination on the basis of nationality – of which the UAE and Qatar are both signatories.

QATAR TAKES THE UAE TO TASK OVER EMBARGO

Describing the UAE’s role in the year-old blockade as a violation of human rights, the Qatar government said that it was going to drag its GCC neighbour to the United Nations’ International Court of Justice.

IN THE PIPELINE:PERMANENT RESIDENCY CARD

After reviewing the recommendations of the Advisory Council late in

May, the Qatar cabinet met with Prime Minister and Interior Minister HE Sheikh Abdullah bin Nasser bin Khalifa Al Thani to take the necessary steps to issue the draft law on a permanent residency card.

The Minister of Justice and Acting Minister of State for Cabinet Affairs, HE Dr Hassan bin Lahdan Al Hassan Al Mohannadi, stated the following:

“The Cabinet took necessary measures to issue the draft law on a permanent residency card, after reviewing the recommendations of the Advisory Council on the topic. Under the provisions of the draft law, a committee shall be established within the Ministry of Interior to consider requests for granting a permanent residency ID to a limited number of candidates, in accordance with the provisions of the draft law.”


In a statement, the Ministry of Foreign Affairs recalled the meeting that took place between the leaders of the two Koreas in April and considered the Trump and Kim meeting a historical precedent promising the further easing of tensions on the Korean Peninsula

and reaching a binding agreement under which the denuclearisation of the peninsula would be made.

The statement added that the comprehensive solution will be a quantum leap and a new achievement in efforts to curb the spread of nuclear weapons around the world, and perhaps that step is significant for the Middle East, which Qatar fears will become a nuclear racing arena unless the situation of escalation is contained by activating peaceful means to resolve disputes and differences and to reduce the nuclear ambitions of all parties.

The MoU includes the exchange of experiences, information and media resources, training the staff of the Iraqi Media Network in the professional and technical fields, and

developing the media content industry.The two sides underlined their keenness on

strengthening and developing the cooperation between Qatar Media Corporation and the Iraqi Media Network through activating the provisions of the MoU in order to achieve common interests.

Sheikh Hamad bin Thamer Al Thani, Chairman of Qatar Media Corporation, signed a Memorandum of Understanding (MoU) for cooperation in the field of media with Mujahid Abu Hail, the Chairman of the Iraqi Media Network, during a visit by him and his delegation in Doha this June.

Apart from hosting iftars for the general public and the Muslim community in Turkey, Qatar Charity (QC) organised iftar programmes for underprivileged people and refugee families in that country during the holy month of

Ramadan. Mohammad Wahi, director of QC’s regional office in Turkey,

said Qatar Charity implements iftar projects and distributes food baskets and vouchers in cooperation with the local authorities in targeted places. He pointed out that vouchers are gifted to families, who cannot attend iftar tables, to enable them to purchase items in a manner that preserves their dignity.

An agreement has been signed with the A-101 company, a chain of commercial stores with more than 7,000 branches in all neighbourhoods in Turkish cities, to help beneficiary families purchase all their food items from the stores of this company until the end of the holy month of Ramadan, which is the expiry date of these vouchers, added Wahi.

QATAR WELCOMES MEETING BETWEEN TRUMP, KIM JONG-UNQatar hailed the recent Singapore Summit, where US President Donald Trump and North Korean President Kim Jong-Un signed an agreement for the ‘denuclearisation’ of North Korea.

QC’S NOBLE GESTURE FOR THE NEEDY IN TURKEY

QATAR, IRAQ SIGN MOU TO BOOST MEDIA TIES

affairs > local


Both parties formalised their partnership on June 11, 2018, with the signing of a Memorandum of Understanding (MoU) by Eng Badr Mohammed Al Meer, Chief Operating Officer at HIA, and Amal Abdullatif Al Mannai, Chief Executive Officer of Qatar Foundation Social Work and Acting Chief Executive Officer at Shafallah

Center.As part of the MoU, HIA will soon add a special handling lounge in the terminal for

passengers with special needs. Shafallah Center will also provide specialised training for ground handling staff at HIA on how to provide special care and assistance to passengers with special needs, including those with autism.

Of the employees surveyed across the region, 28% (more than one in four) admitted planning to watch some of the games during working hours. Of these, roughly one-third expected that they would be given permission to watch the games, while a quarter said they would secretly watch the games by live streaming them on their computers or smartphones.

Other strategies employees said they would use to watch the games during working hours include requesting a full day’s leave, leaving work early to watch the games, or simply calling in sick.

A new edition of the critically acclaimed Pearls: Treasures from the Seas and the Rivers exhibition will be travelling to Moscow in July as part of the Qatar

Russia 2018 Year of Culture. The exhibition is curated specifically for this year’s Year of Culture programme and will display 50 new, never-before-shown artefacts.

A Qatar Museums (QM) exhibition, the showcase will be hosted by the World Diamond Museum at the State Historical Museum in Moscow from July 11 to October 1, 2018.

Comprising 100 pieces of jewellery and other examples of pearl craftsmanship, the exhibition will introduce visitors to a selection of jewellery made from freshwater pearls born in Central Asia for the first time.

Other masterpiece objects on show at the State Historical Museum will include a spectacular tiara worn by Archduchess Marie Valerie of Austria and treasures from other European monarchies.

‘BESPOKE TRAVEL EXPERIENCE’ FOR THE DIFFERENTLY ABLEDHamad International Airport (HIA) entered into a partnership with ‘Shafallah Center’, one of Qatar Foundation for Social Work’s (QFSW) affiliated centres, to provide additional services to passengers with special needs, with a focus on passengers with autism.

STAFF PRODUCTIVITY TO TAKE A HIT DURING WORLD CUP

Employers across the Middle East are set to witness a major productivity drop during June and July this year as a result of the FIFA 2018 World Cup, according to a survey by online recruitment firm GulfTalent. Based on GulfTalent’s survey findings, 92% of employees in the region plan to watch at least some of the games.

QM TO BRING PEARLS EXHIBITION TO MOSCOW


business > realty checkEXIT MODE

QINVEST records $858 million of completed exits after announcing the recent successful exit of a real estate mezzanine murabaha transaction in the US.

According to the Qatar edition of the first-ever Propertyfinder, an increased demand from expatriates and the market witnessing more transactions may be witnessed if there is an increase in foreign businesses establishing regional bases in

Qatar.Upgrading homes, moving to more desirable areas, and even

entering home ownership for the first time is becoming a reality for many. There is a significant downward pressure on prices due to the economic climate and additional real estate supply.

The biannual ‘Propertyfinder Qatar Trends Real Estate Report 2018’ shows that Qatar’s volume of real estate transactions remains favourable with the potential for further growth.

A rise in foreign direct investment as well as an increase in sales of Qatar’s residential and commercial properties are expected thanks to the country’s new draft law for foreign real estate ownership.

RENEWED HOPE FOR QATAR’S PROPERTY MARKET

According to a research report citing data from IPE Real Assets, Qatar Investment Authority (QIA) is among the top five real estate investors in the world, a sign of gulf sovereign wealth funds growing their alternate

investments portfolio. QIA, with $35 billion of investments in real estate, is

ranked fifth after Abu Dhabi (UAE), Netherlands, Germany and France. Its real estate investments include the Empire State Realty Trust in the US and skyscrapers in London such as The Shard and Canary Wharf.

“Not only have large institutional real estate investors become more ‘global’ in origin, they are investing more globally,” the report added.

It further said: “Institutional investors have been increasing their portfolio allocation to alternative investments including real estate.

“Real estate assets have helped provide a steady and diversified income stream to institutional portfolios as well as providing yield in the context of a low interest rate environment.”

QATAR AMONG TOP GLOBAL REAL ESTATE INVESTORS

QATAR’S Q1 REAL ESTATE PRICES STABLE O

fficial data indicates that Qatar’s real estate prices have remained almost stable in the first quarter of this year compared to the previous

quarter (October-December 2017).The Real Estate Price Index issued by the

Qatar Central Bank (QCB) for Q1 showed a marginal decline of 0.51% (quarter-on-quarter) – it stood at 248.98 against 250.26 in Q4, 2017.

However, when compared on a year-

on-year basis, the price index for the first quarter of 2018 (based on the data issued by the Ministry of Justice) has decreased by 10.91% compared to 279.48 in Q1, 2017 (average of the January-March quarter).

According to QCB’s updated data, the country’s real estate price index in March 2018 increased to 252.08 points, showing a month-on-month increase of 2.38 points, or nearly 1%, compared to 249.70 points in February 2018.


THE DEVALUATION PROBE

Qatar Central Bank seeks more data from banks about US dollar-riyal trades as it investigates suspected attempts to devalue its currency at the height of the diplomatic standoff with its GCC neighbours.

business > bank notes

The IMF’s Article IV consultation report said: “Given the strong starting position of Qatar’s financial system, with low NPLs (non-performing

loans), adequate provisioning and solid profitability, banks can comfortably withstand higher NPLs and lower profits brought about by macroeconomic shocks.”

It added: “Even under the severe stress scenario, with the oil price dropping to $25 per barrel and private sector non-oil

activity contracting by 3% a year for three years, the aggregate CAR would stay above the 10% prudential minimum.”

However, the IMF also pointed out that, though banks have substantial loss absorption capacity in terms of capital and loan loss provisioning, a sharper decline in property prices presents a risk to the banking system given its sizable exposure to the real estate sector.

According to the International Monetary Fund (IMF), Qatar’s banking sector can withstand severe macroeconomic shocks through solid profitability, a robust capital base, lower bad loans and adequate provisioning.

In its recent report on the GCC banking sector entitled ‘Shifting Horizons’, KPMG has said that Qatari banks will focus primarily on the local market, as opposed to looking abroad for growth, ahead of the FIFA 2022 World Cup.

“QATAR BANKS RESILIENT TO MACROECONOMIC SHOCKS”

“We expect there to be continued control around the cost side of the business to ensure profitable growth remains

and cost-to-income ratios (CIRs) are maintained at low levels,” said KPMG, adding that banks will continue to look to access the capital markets for funding through the Euro medium-term note and sukuk issuances, to help support growth.

According to the report, Qatar’s listed banks have the “lowest” CIR (29.5%), on average across the GCC, reflecting “cost consciousness” across the sector and the

country as a whole. KPMG also said that overall profitability for listed Qatari banks has increased 5% year-on-year.

WORLD CUP 2022:“BANKS TO FOCUS ON LOCAL MARKET”

Doha Bank Sri Lanka Repo Office Chief Representative Officer Eranda Weerakoon told Mirror Business that they have invited Sri Lankan banks to set up their windows at Doha Bank in Qatar, to provide financial services for the country’s workers in Qatar.

Meanwhile, Finance and Mass Media Minister Mangala Samaraweera invited Doha Bank to set up its regional office at the Colombo International Financial Centre (CIFC), assuring that the best operating environment will be provided.

He added that CIFC will provide cutting-edge infrastructure and regulatory framework to encourage banks and financial services companies to set up their offices and even global headquarters.

With the Sri Lankan migrant workers in Qatar expected to reach 300,000 in the next two years, the country’s remittance earnings from the Gulf State is also likely to double over the years.

DOUBLING REMITTANCES, FROM SRI LANKA TO QATAR


business > oil&gasBOOST FOR NORTH FIELD PROJECT

Qatar Petroleum has announced the award of a detailed design contract to US engineering company McDermott International Inc. for offshore jackets for the new North Field expansion project.

“We think that prices will be corrected downwards towards the end of the year and remain capped in 2019,”

JP Morgan analyst Abhishek Deshpande wrote in the note.

“We think there might be one last hurrah when it comes to prices especially if OPEC

were to announce a release of barrels which is less than what markets have priced in currently,” Deshpande said further, according to a CNBC report.

JP Morgan added that the rally would unwind because any move by OPEC to ease output caps would signal a return to pre-2017 production levels.

Qatar Petroleum (QP) and Exxon Mobil signed a deal in June which gave the former a 30% stake in two of Exxon’s affiliates in Argentina.

According to the agreement, QP will have access to oil and gas shale assets in the Latin

American country. The two affiliates are ExxonMobil Exploration Argentina S.R.L. and Mobil Argentina S.A., which holds rights with other partners for seven blocks, QP said in a statement.

“This is an important milestone, as it marks Qatar Petroleum’s first investment in Argentina as well as its first significant international investment in unconventional oil and gas resources,” said Eng Saad Sherida Al Kaabi, President and CEO of Qatar Petroleum.

The signing of the agreement took place between Al Kaabi and Andrew Swiger, senior vice president at ExxonMobil Corp., in Doha.

From QP’s point of view the deal offers a chance to invest in a sizeable shale operation for the first time.

“India is a very important country for us, especially with regard to our growing LNG production, and India’s rising demand for energy,” said Al Kaabi.

“Currently we are supplying over eight million tonnes of our LNG to India every year under long-term agreements. We intend to supply more. A few months ago I visited India and had meetings with top officials of all the important Indian companies that are buying LNG,” he added.

Al Kaabi also said that during his visit to India he met with Dharmendra Debendra Pradhan, the country’s Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship, and had fruitful discussions to boost energy cooperation between Qatar and India.

JP MORGAN PREDICTS MAJOR SLUMP IN OIL PRICESDespite geopolitical tensions and risks of large supply disruptions, oil prices are heading lower later this year and will fall even lower in 2019, as the fundamentals of supply and demand weaken, said a research note by JP Morgan.

QP ACQUIRES EXXON STAKES IN ARGENTINA

“WE’RE OPEN TO MEETING INDIA’S LNG DEMAND”Eng Saad Sherida Al Kaabi, Chief Executive of Qatar Petroleum, recently said that they are always open to enhancing cooperation to meet India’s energy requirements.


affairs > local

Led by HH Sheikh Tamim bin Hamad Al Thani, the entire nation celebrated Eid, as the festive spirit engulfed one and all. Eid al-Fitr, which marks the end of the holy month of Ramadan, held special significance this year because it also marked a year of the blockade imposed on Qatar by some of its Arab neighbours.

QATAR CELEBRATES EID AL-FITR

15 > QATAR TODAY > MAY 2018


finance > bank notes

C ommercial Bank has made a strong start to 2018, with Q1 financial results showing a net profit of QR 405 million, an increase of 345% over the same period

last year. Commercial Bank has also been busy fundraising, including signing a $250 million syndicated loan in the Asian market and issuing bonds in Switzerland.

According to Commercial Bank Group CEO Joseph Abraham, tapping international markets for funding such as issuing bonds are part of the bank’s normal business operations, and the proceeds are used for general funding purposes to support the company’s five-year strategic plan.

He further says: “In March this year we successfully issued the largest-ever Swiss franc (CHF) bond from the MENA region at

CHF 335 million. The three-year CHF bond was driven by our objective of diversifying our funding sources and demand for the bond was strong from a very select group of appropriate investors, which is reflected in the bond’s pricing. The deal is a great result for Commercial Bank as it demonstrates our financial strength, the confidence from investors in our five-year strategic plan, and Qatar’s resilience in terms of coping with the economic blockade.”

At the bank's recent AGM, Commercial Bank Chairman Sheikh Abdulla bin Jabor Al Thani had said that the bank “increased profitability from the previous year and successfully completed the first year of the five-year strategic plan in 2017”. Talking about the various initiatives taken by the bank which led to this “increase in profitability” and noting the significant achievements of the bank, Abraham says:

IN AN EXCLUSIVE INTERVIEW WITH QATAR TODAY, JOSEPH ABRAHAM, GROUP CEO OF COMMERCIAL BANK, TALKS ABOUT THE VARIOUS ACTIVITIES THAT THE BANK HAS BEEN INVOLVED IN THIS YEAR.

SETTING THE BENCHMARK FOR INNOVATION, CLIENT

SATISFACTION

BY UDAYAN NAG


“The intent of our five-year strategic plan is to make Commercial Bank the best bank in Qatar on the foundation of our five Cs – Corporate Earnings Quality, Client Experience, Creativity and Innovation, Culture and Compliance.”

He explains that in terms of corporate earnings quality, a number of actions taken under the bank’s five-year strategic plan led to improved financial results, with Q1 2018 being Commercial Bank's fifth quarter in a row of increased operating profitability demonstrating strong business momentum.

“We continued to grow our business, with loans and advances up by 13% in Q1 2018 compared to the same period last year, while simultaneously reshaping our balance sheet through sector diversification to reflect current and future market opportunities. We reduced our cost-to-income ratio by reducing waste and eliminating unnecessary expenditure, while a prudent provisioning process for legacy loans has largely come to an end.”

Joseph Abraham goes on to say that continual investment in new technologies and practices touches on creativity and innovation as well as client experience. “This is especially true in digital technology, where Commercial Bank is the pioneer of this change currently transforming the banking industry. Last year we launched a ‘first to market’ 60-second digital

remittance initiative to India, and we have grown from handling a couple of thousand remittances to India per month to over 10 times this amount. This initiative has now been extended to the Philippines and Sri Lanka, as we seek to become the leading bank for remittances in Qatar.”

“In 2017 we introduced contactless debit cards in Qatar for ‘tap and go’ transactions, followed by contactless credit cards this year, representing another first in market innovation by Commercial Bank. As our commitment to innovation never stops, another significant milestone on the horizon in 2018 are mobile wallets that allow customers to use their mobile phones to make payments.”

With regard to Qatar’s 2018 budget, an increase in infrastructure expenditure will put the focus on the country’s banking sector, as it might be called upon to fund a significant proportion of this spending. So, will Commercial Bank and the other banks in Qatar benefit from the anticipated rise in oil prices, which in turn is expected to reduce the budget deficit?

“For the first time in three years, Commercial Bank has outperformed

the market in terms of loan growth and this is mainly attributable to increasing our share of high-quality public sector loans,” says Abraham. “The government remains committed to spending on major infrastructure projects in the build-up to the 2022 World Cup, and public sector loans are a strategic priority, not only in terms of growth opportunities but also to diversify our loan book.”

“Opportunities for banks are not just limited to funding large infrastructure projects, one example being new self-sufficiency initiatives led by the

“THE THREE-YEAR CHF BOND WAS DRIVEN

BY OUR OBJECTIVE OF DIVERSIFYING OUR FUNDING SOURCES

AND DEMAND FOR THE BOND WAS STRONG

FROM A VERY SELECT GROUP OF APPROPRIATE

INVESTORS.”

“DESPITE THE CURRENT VOLATILITY, THE LONG-TERM

OUTLOOK FOR TURKEY REMAINS STRONG, THANKS TO ITS PLACE AT THE CROSSROADS BETWEEN

EUROPE AND ASIA, ITS LARGE SKILLED POPULATION AND

DIVERSIFIED ECONOMY.”


government in areas such as food security, logistics and manufacturing as a result of the economic blockade imposed on Qatar.”

Turkey’s Alternatif Bank became a 100% subsidiary of Commercial Bank in 2016 and offers its expertise in Turkey via 53 advisory branches and 1,000 employees. With a new CEO and leadership team in place, the right strategy, and a rebranding exercise completed in March 2018, Alternatif Bank looks set to grow its QR50 million in net profit achieved for 2017.

Commenting on Commercial Bank’s tie-up with Alternatif Bank, Abraham says: “The future looks bright for them as the Turkish economy has enormous growth potential, and the GCC blockade has intensified the strategic trading relationship between Qatar and Turkey.

“This presents an opportunity for Commercial Bank and Alternatif Bank, and we will continue to collaborate and integrate our two banks closer together to capture a share of the accelerating bilateral economic and investment flows between Qatar and Turkey.”

Abraham cites transaction banking as an essential part of the company’s strategic future and feels that the bank is already “a very significant player” in terms of the

number of transactions it handles. “We have the second largest ATM network, third largest branch network in Qatar, 56% of all point-of-sale terminals (excluding government) in Qatar, and over 20% market share of credit card spending.

He adds: “Transaction banking presents an opportunity to create fee income for more diversified, sustainable earnings. To fully capitalise on this opportunity, we launched an in-house entity in December 2017, representing a major step forward towards realising our goal of leading transaction banking in Qatar.”

“Bringing an end to a previous

outsourcing model, our in-house entity facilitates the implementation of new technologies and new ways of thinking such as robotics, machine learning and straight-through processing to revamp our end-to-end operating model.”

Joseph Abraham points out that by having direct control over its own processes, Commercial Bank can now fully exploit these latest technologies and digitisation as a driver of innovation and future growth.

Regarding the company’s plans for this year, Joseph Abraham says: “We will strengthen our corporate earnings quality by continuing to reshape our loan book and improve asset quality through selective de-risking, diversification and increasing our share of government and public sector business.

“We will continue to reduce our costs further in line with the market, grow our international portfolio, and strengthen collaboration with our subsidiary and associate banks to achieve greater returns. We will also continue investing in innovative technologies as part of our digital transformation journey in order to provide best-in-class products for our customers, and also enhance the way we work as an organisation.”

“WE HAVE THE SECOND LARGEST ATM NETWORK, THIRD LARGEST BRANCH NETWORK IN QATAR, 56%

OF ALL POINT-OF-SALE TERMINALS (EXCLUDING

GOVERNMENT) IN QATAR, AND OVER 20% MARKET SHARE OF

CREDIT CARD SPENDING.”

finance > bank notes


WINNERSALL THE WAY

QATAR TODAY’S KARIM EMAM TALKS EXCLUSIVELY TO SOME OF THE MAJOR ATTRACTIONS AT THE AL ATTIYAH ENERGY

AWARDS 2018.

affairs > local


G oing according to the script set over the last few years, the sixth edition of the Abdullah Bin Hamad Al Attiyah International Energy Awards

witnessed a number of personalities being recognised for various contributions in their respective fields. And one of the most prominent names to feature at the awards night, which took place at the Museum of Islamic Art on May 7, was Sheikh Khalid bin Khalifa Al Thani, Chief Executive Officer of Qatargas, who was given the Lifetime Achievement for the Advancement of the Qatar Energy Industry award.

The Qatargas CEO was one of seven distinguished individuals recognised for exemplary careers in the energy industry, which included the OPEC Secretary General, HE Mohammad Sanusi Barkindo, who was selected as the 2018 winner of the International Energy Award for Lifetime Achievement for the Advancement of OPEC. The other winners included Maria Van Der Hoeven, former Executive Director of the International Energy Agency, who was recognised in the category of Producer-Consumer Dialogue. During her tenure at the International Energy Agency (IEA), she steered a period of exceptional economic transition in the global energy industry.

The Foundation’s annual Honorary Award for Advancement of International Energy Policy and Diplomacy was given to Lee R Raymond, former Chairman and CEO of ExxonMobil.

Professor Paul Stevens, Distinguished Fellow at Chatham House, received the accolade for The Advancement of

Lee RaymondFormer Chairman & CEO, ExxonMobil Corporation

HE DR Mohammed Saleh Al sadaEnergy and Industry Minister, State of Qatar

From left to right:HE Dr Ibrahim Ibrahim (Vice

Chairman, Al Attiyah Foundation) with Mustapha Bakkoury (President of

Moroccan Agency for Solar Energy) and Nobuo Tanaka (Chairman of

Sasakawa Peace Foundation)


Educating Future Energy Leaders, and Mustapha Bakkoury, President of Masen, the Moroccan Solar Energy Agency, was recognised for The Advancement of Renewable Energy. Another notable awardee was Kate Dourian, Programme Officer Middle East and North Africa, Directorate of Global Energy Relations at the IEA, and previously Middle East Editor for Platts for over a decade. Dourian was recognised for her achievements in the Advancement of International Energy Journalism.

Lee RaymondWidely recognised for establishing ExxonMobil as the world’s leading oil company, Raymond’s landmark achievements as Chairman and CEO include acquiring rival Mobil in 1999, and propelling the company’s market value fourfold to $375 billion by the end of his tenure in 2005, overtaking BP as the largest global oil company and displacing General Electric as the largest US corporation. In the same year, The Economist dubbed Raymond as possibly the most successful oilman in a century.

According to him, the technology and progress the world is witnessing is what drives the whole industry. “You have to commit to this technology and you should always strive to develop and enable the new technologies. I have been most interested in ‘proprietary technology’ because it simply gives you priority.”

He adds: “If you accept to buy technology developed by others, you will not make much progress. Of course it will help and facilitate things, but what made the others really progress is their investment in proprietary technology.”

Raymond holds the view that the world cannot move forward without oil and gas. “What is important and what is needed is to be more efficient in providing this energy, and today’s efficiency compared to 30 or 40 years ago is unimaginable,” he says, adding: “I am optimistic that the future will be similar and we will continue to save energy, but the demand will also continue

to increase because the world’s population is increasing and the quality of life is also improving, and both are dependent mainly on energy.”

Raymond is of the opinion that energy is an opportunity for everybody because “it will grow and contribute to economies and development”. As far as governments are concerned, he says: “They have challenges in balancing politics and economics. But they have to realise that without energy, societies may collapse and that clearly

won’t do anybody any good. The goal is to work together to make the energy sector more efficient and more responsible while, at the same time, meeting demand and consumption rates as world economies grow.”

Nobu Tanaka Tanaka, Chairman of the Sasakawa Peace Foundation, member of the 2018 Selection Committee and a winner of the Advancement of Producer-Consumer

Ibrahim Ibrahim (left) with Maria van der Hoeven, Former Executive Director,International Energy Forum

Ibrahim Ibrahim (left) with

Qatargas CEO, Sheikh Khalid bin

Khalifa Al Thani

affairs > local


Dialogue 2014 Award, makes the point that when energy is made available through new technology, there will be no need for wars that usually break out when resources are limited. “Oil is often the source of conflict, but the likelihood of energy being unlimited and available everywhere is increasing day by day,” says Tanaka. “This reduces the possibility of conflicts and wars over energy, which promotes peace around the world. Therefore, I advise countries to invest in new ideas and in innovations.”

He further says that there are many new technologies in the field of energy, so the revolutions that are witnessed in the rates of production and exploration are essentially the result of those technologies. “Of course, gas is important, but in the future, hydrogen is expected to be used as an alternative. This is a very clean alternative offered by modern technology.”

“Renewable energy is certainly closely related to technology, and we believe that solar energy is increasingly becoming cheaper, which will lead to a huge change in renewable energy, and we will see how far these efforts will go. Nobody knows what

From left to right:Ibrahim Ibrahim with Professor Paul Stevens (Distinguished Fellow, Chatham House) and Dr Mark H Weichod (Former Dean and CEO, Texas A&M Qatar)

HE Mohammad Sanusi Barkindo,OPEC Secretary General

Nasser Khalil Al Jaidah, CEO, Qatar Petroleum International

hybrid technology can offer us, especially with regard to nuclear technology.”

Mustapha BakkouryBakkoury feels that there are enough technologies and plenty of scope for the development of these technologies to meet current and future needs. “We should only open the doors to innovations and invite the youth to keep up with these innovations and to utilise technological development in that sector.”

Bakkoury also says: “It’s an honour to be among the recognised individuals from the global energy sector because it recognises

the efforts of the Kingdom of Morocco and His Majesty, Mohammed VI, in particular for his efforts in energy and sustainable development and reducing the effects of climate change by making renewable energy a considerable share of the energy mix, in addition to gas.”

“This, of course, will inspire us to continue working and to form partnerships with energy institutions. I’m glad to be present in Doha today, and I hope more projects will be developed in the future, in addition to the joint projects in Morocco or outside of Morocco, at the level of the entire African continent.”


ERDOGAN WINS TURKISH PRESIDENCY RE-ELECTION

A handout photo made available by the Turkish Presidential Press Office shows President Recep Tayyip Erdogan greeting supporters after the close of voting for the Turkish presidential and parliamentary elections in Ankara, Turkey, June 24, 2018.

EPA-EFE

affairs > worldview


affairs > arab snippets


PRINCE WILLIAM VISITS RAMALLAH

Britain’s Prince William (right) recieves a gift from Ramallah Mayor Musa Hadid in the West Bank City of Ramallah, 27 June 2018. The Duke of Cambridge arrived in Ramallah after visiting Israel and Jordan as part of his Middle East tour.

EPA-EFE/ALAA BADARNEH


affairs > viewpoint

INDIANS, PAKISTANIS, SYRIANS, EGYPTIANS AND SUDANESE RESIDING IN QATAR ARE AT THE TOP OF THE LIST OF DEMAND FOR SECOND CITIZENSHIP.

F or years on end, the citizenship by investment industry has proven to be a commendable and credible solution for individuals seeking international

integration. High-net-worth individuals in the region are gaining more and more awareness about the numerous benefits associated with having dual nationality and a second passport. However, many do not understand the process of obtaining a second citizenship and what it entails. In fact, it is a common misconception to confuse fast-track citizenship by investment programmes with immigration programmes.

There is a high percentage of the expat community in Qatar under the impression that they need to immigrate and relocate outside of Qatar for several years to achieve second citizenship status. Virtually all expats residing in Qatar, with the exception of UK residents, are looking for a second

passport.Indians, Pakistanis, Syrians, Egyptians

and Sudanese residing in Qatar are at the top of the list of demand for second citizenship. These residents are facing the usual problem of restricted visa-free travel and the hassle of obtaining a visit visa even to countries in the GCC. With a GDP of $124,000 according to the IMF, many of these expats are wealthy individuals who have set up their lives and businesses in Qatar and are looking to obtain a stronger passport without necessarily having to immigrate to a different country if they don’t have to.

Whilst every country contemplates the process of obtaining citizenship under their legislation, most of the countries in the world do not have a citizenship by investment act. ‘Citizenship by investment’ means the possibility of obtaining citizenship by investing in a certain country whether it be real estate, government bonds or simply contributing

to a government fund. However, these programmes can still require the person to reside in the country.

That said, there are only a handful of countries in the world through which you can attain citizenship by investment in only three to six months without any residency requirements. These programmes are gems within the citizenship by investment arena. You have probably heard about countries like St. Kitts & Nevis, Commonwealth of Dominica, Antigua & Barbuda, St Lucia and Grenada. These beautiful islands located in the Caribbean Sea contribute a substantial part of their economy’s success to their fast citizenship by investment programmes. Cyprus also falls into this category; it is part of the European Union and the only European country that can grant investors a passport within a period of only six months. This is unprecedented as no European countries previously had such a fast route to obtain an EU passport.

Why is the demand for these countries’

HOW FAST CAN YOU ACHIEVE A SECOND NATIONALITY?


passports on the rise? The answer lies within the convenience of their application process and the requirements, such as fast citizenship issuance and no residency or travel requirements to the country.

Detailed below are the countries which quickly grant applicants a second nationality without needing to relocate to them.

CyprusBeing the 14th strongest passport in the world with a visa-free score of 146 countries, Cyprus is a game changer for investors looking to obtain a fast track European nationality. This programme attracts the UHNWs who are interested in Cyprus’ high-end property market. The required investment is EUR 2,000,000 in real estate in Cyprus and the investors will obtain a European nationality for the entire family enabling them to live, work and study in any country of the European Union. According to the Cypriot citizenship law, an investor is eligible to sell the property after three years, keeping one of a lower value for EUR 500,000. This provides investors with the opportunity of making a profit while retaining full citizenship status.

Saint Kitts & NevisThis country has risen to the occasion given its huge popularity among people in the region. It is one of the first countries in the world to introduce a Citizenship by Investment Act in its legislation. The programme includes two investment options, one of which is a financial contribution of $150,000 to the Sugar Industry Diversification Foundation. The second option requires making a real estate investment of $220,000, which entitles you to own a share in the luxurious Six Senses hotel brand. Either investment options will grant the investor a St Kitts & Nevis nationality in less than six months. It is important to mention that the country’s passport allows visa-free travel to 130 countries including Schengen States, the UK, Singapore, Hong Kong and Russia.

Antigua & BarbudaAntigua currently has the most cost-effective financial contribution option for a family of four members for $125,000. The country’s passport is one of the strongest in the world, ranked 28th among the most powerful passports. Antigua & Barbuda is the only country in the Caribbean that requires investors to visit the country for

a period of five days after granting the citizenship, with a window of five years to do so, which could become a great family trip to the stunning region.

GrenadaGrenada is the only country amongst those in the Caribbean with a citizenship programme, which holds visa-free access to China, Russia, Schengen and the UK and has strong government ties to the GCC. Grenada is also the only programme with such ties to the USA, which enables those who became citizens to apply for its E-2 Investor Visa Agreement which enables them to reside in the United States. The country ranks 32nd among the most powerful passports in the world. Applicants can obtain a Grenada passport through a financial contribution of $150,000 to the country’s National Transformation Fund.

DominicaSince the establishment of Dominica’s citizenship by investment programme in 1991, the country has seen nothing but success. The country has a fast citizenship processing time and has recorded multiple cases of individuals obtaining their citizenship approval within a period of less than three months. Surprisingly, the most attractive point about Dominica is not only the country’s efficiency in processing the citizenship but also the fact that individuals can obtain their passport through a financial contribution of $100,000 to its Government Fund, which makes it one of the most cost-effective for single applicants.

Dominica also provides investors with a second investment option of owning a share in world-renowned hotels like the Cabrits Resort Kempinski. The value of the investment sits at $220,000 and the hotel is scheduled to start its operation by beginning of 2019.

Saint LuciaThe citizenship by investment programme being offered by this beautiful island in the Caribbean makes it a major international player. It mainly rose to fame because of its recent change in the legislation, making the programme more affordable to single applicants. The country currently requires a contribution of $100,000 to St Lucia’s National Economic Fund or a $300,000 investment in a government-approved project. It allows visa-free access to over 120 countries including the Schengen zone, UK, Singapore and other major countries

BY VERONICA COTDEMIEYCEOCitizenship Invest


Small and medium-sized enterprises (SMEs) could be set for a much more prominent role in Qatar, with the government stepping up efforts to

collaborate with local companies as part of broader diversification plans.

Local SMEs were presented with a series of potential business opportunities at the third annual Government Procurement and Contracting Conference & Exhibition (Moushtarayat), held in Doha this April.

Coordinated by the Public Works Authority, Ministry of Finance and Qatar Development Bank (QDB), the event brought together small companies, large firms and government agencies, allowing the public and private sectors to interact while also providing a platform for state entities to showcase projects open for tender or direct assignment.

Moushtarayat 2018 saw more than 2,000 business opportunities with a combined

value of around QR6.5 billion ($1.8 billion) presented to SMEs, while 57 different state agencies were represented, covering most areas of public sector activity.

Among the state agencies taking part was the Supreme Committee for Delivery & Legacy (SC), the authority tasked with delivering infrastructure requirements for the 2022 FIFA World Cup.

In an effort to boost involvement of domestic SMEs in the World Cup, SC announced it was making available QR700 million ($192.3 million) worth of opportunities for local companies to provide services in preparing the main stadiums and training facilities for the event.

While only a fraction of the estimated QR60 billion ($16.5 billion) total value of projects showcased at the event was dedicated to SMEs, with most being directed to large entities, the SME-focused component represents a significant increase in terms of value when compared

SMES SET FOR GROWING ROLE IN QATAR

THE SUPREME COMMITTEE FOR DELIVERY & LEGACY HAS SAID THAT IT WILL BE MAKING QR700 MILLION WORTH OF OPPORTUNITIES AVAILABLE FOR LOCAL COMPANIES.

affairs > viewpoint


to previous years.In 2017, SMEs secured QR700 million

($192.3 million) in public procurement contracts out of a total of QR2.5 billion ($686.8 million), more than double the QR300 million ($82.4 million) posted in 2016.

Expanding SMEs a priorityThe increased focus on SMEs highlights the important role they play in the national economy. Of the 25,000 private sector businesses currently registered, more than 96% are classified as SMEs, Abdulaziz bin Nasser Al Khalifa, the CEO of QDB, said during a recent speech at Carnegie Mellon University in Qatar in January.

In light of this, expanding the segment and providing greater opportunities for smaller firms to take part in state-backed projects is seen as a significant source of employment and growth for local businesses.

According to Ministry of Finance forecasts, local firms could provide up to

90% of supplies for state projects in the coming years, with the authorities looking to improve the capacity and diversification of services offered by SMEs.

Role of private sector Increased activity for local businesses and efforts to develop SMEs align with a broader national strategy aimed at boosting the private sector’s contribution to the economy.

The country’s second National Development Strategy (NDS2) 2018-22, launched in March, sets the agenda for economic, social and human development for the next five years, building on the first NDS, while also dovetailing into the broader goals of the Qatar National Vision 2030, the blueprint for broader growth unveiled in 2008.

While there is a strong emphasis on building the state’s capacity to deliver services and achieve financial sustainability, much of the economic focus of NDS2 is on growing the private sector by developing the tools needed to broaden its base and contribution to GDP, according to Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al Thani.

The increased focus on the private sector comes amid national plans to diversify the economy away from a reliance on hydrocarbons earnings. The economic blockade imposed on Qatar in June last year by Saudi Arabia, the UAE, Bahrain and Egypt has also led to a renewed pivot towards local industry.

Key to achieving private sector growth will be collaboration with the state, Saleh bin Mohammed Al Nabet, the Minister of Development Planning and Statistics, said upon the release of the NDS2.

“The interaction and partnership between the public and private sector needs to be increased, and the role of civil society organisations in the implementation of this strategy needs to be expanded,” he said.

PPP legislation aims to boost growthTo encourage private sector development, the government has sought to improve the regulatory environment by outlining proposed new legislation governing public-private partnerships (PPPs).

Government officials have told local media that new legislation, currently in the draft stage, will outline the terms and conditions for those taking part in PPPs, with regulatory certainty expected to encourage both local and foreign companies to take part in major projects

BY OLIVER CORNOCKManaging Editor, Middle EastOxford Business Group

This Qatar economic update was produced by Oxford Business Group.


K nowledge of environmental issues and sustainability is increasingly important as industrialisation and climate change continue to wreak havoc in our

ecosystems and psyche. As temperatures rise and icecaps shrink and storms lash our coastal areas into oblivion, being smart about carbon footprints, waste streams and consumer choices become increasingly important for all of us.

That’s where the Earth Talks come in.The Earth Talks Series is hosted by the

Arab Youth Climate Movement (AYCM) Qatar. The series serves as a forum through which experts from non-government organisations, academia, government and the private sector share their experiences, wealth of insight and information about the pressing issues of the 21st century through the different voices speaking on

behalf of the Earth. Through the Earth Talk Series, AYCM Qatar aspires to bring many of the world’s greatest thinkers, leaders and activists to Qatar. Its mission is to help everyday people like you and me understand complex environmental issues, promote sustainability and live greener lives. AYCM responds to the urgency and the dire need of environmental education in Qatar. The significance of environmental education (or eco literacy) is emphasised in the National Development Strategy 2011-2016 and 2017-2022. Creating an ecologically conscious society is a precursor to achieving a sustainable society, which was the ultimate vision of Qatar National Vision (QNV 2030).

The forums were organised at the Qatar National Library and Qatar Green Building Council and were open to the public free of charge. So far two distinguished guests have been part of AYCM Qatar.

OVER THE PAST SIX MONTHS, EARTH TALKS QATAR HAS GAINED A REPUTATION FOR ATTRACTING LEADING ACADEMICS, THINKERS AND ACTIVISTS FROM ALL OVER THE WORLD.

ADDRESSING QATAR’S ECOLOGICAL CONSCIOUSNESS

green scene > viewpoint


Dr Joe Ravetz, Co-Director of the Centre for Urban Resilience & Energy at the University of Manchester, talked about urbanisation and the need to focus on building “wise communities”. Ravetz has pioneered the art of strategic thinking for sustainable cities and regions, which brings together environment-climate policy, urban planning and design, new economics and governance, innovation and future studies, systems thinking and complexity science. An architect, planner and development manager, he is also a creative graphic facilitator and foresight trainer. His main publications include ‘City-Region 2020: integrated planning for a sustainable environment’, ‘Environment and City’, and the forthcoming ‘Urban 3.0’ (Earthscan/ Routledge). He is on the editorial boards of Foresight journal, International Journal of Sustainable Development, and Sustainable Mediterranean Construction; coordinator of the Greater Manchester Policy Exchange; Principal at SAMI Consulting; policy advisor currently to Naples (Italy), and Vellore (India); and delivers training, seminars, consultancy, keynotes and reviews in many countries.

In late March, AYCM Qatar hosted Dr Vandana Shiva, who discussed the ecological crisis and the future of global food security; the lecture was held in Qatar National Library.

Dr Shiva is a philosopher, environmental activist, author and eco-feminist. She is an author of more than 20 books including Biopiracy: the Plunder of Nature and

Knowledge and Water Wars; Privatization, Pollution, and Profit.

She is one of the leaders and board members of the International Forum on Globalization (along with Jerry Mander, Edward Goldsmith, Ralph Nader and Jeremy Rifkin), and a figure of the global solidarity movement known as the alter-globalisation movement. She has argued for the wisdom of many traditional practices, and founded Navdanya (nine seeds), a movement promoting diversity and the use of native seeds.

Vandana set up the Research Foundation for Science, Technology and Ecology in her mother’s cowshed in 1997. Its studies have validated the ecological value of traditional farming and been instrumental in fighting destructive development projects in India. She is a member of the scientific committee of the Fundacion IDEAS, and was awarded the Right Livelihood Award in 1993.

AYCM Qatar’s upcoming lectures will include world-renowned individuals like Dr Rajendra Pachauri, Nobel Prize Winner, Former Chairman of Intergovernmental Panel on Climate Change (IPCC); Dr David Orr, Distinguished Professor, Oberlin College; Dr Seyyed Hossein Nasr, Professor Emeritus, George Washington University; Christina Figures, Former Executive Secretary of United Nations Framework Convention on Climate Change (UNFCCC); Annie Leonard, Creator of Story of Stuff and Executive Director of Greenpeace USA; and Dr Jane Goodall, British primatologist and anthropologist

BY NEESHAD SHAFIExecutive Director - AYCM QatarGlobal Shaper - Doha HubSteering Committee - CoalitionWILD

ABOUT ARAB YOUTH CLIMATE MOVEMENT QATAR

AYCMQ is an independent, registered, non-profit, non-government organisation in Qatar, which aims at providing knowledge that serves the public interest and maximises general welfare. We do this by raising ecological consciousness of the citizens and residents through high-quality awareness programmes for various age groups and audiences in Qatar.


OIL PRICE HIKE:

SHOT IN THE ARM FOR GCC

QATAR TODAY TALKS TO EXPERTS ABOUT THE

LATEST DEVELOPMENTS IN THE ENERGY MARKET AND WHAT’S IN STORE FOR THE

GCC ECONOMIES.BY VL SRINIVASAN

COVER STORY

COVER STORY


revenue loss incurred by the GCC nations due to low crude oil prices since 2014 was close to $300 billion (QR1.92 trillion), so it goes without saying that they heaved a sigh of relief when the prices rose, touching a four-year high of $79 per barrel around mid-May this year. Oil exporters are under pressure now to step up production to bring oil prices down.

Some of the reasons for the increase in the oil prices include a spurt in demand, the decision of the Organisation of Petroleum Exporting Countries (OPEC) to extend oil production cuts by the end of this year, the decline in supplies from Venezuela, the US decision to exit from the Iran nuclear deal, and rising tensions in the Middle East. Though the US has increased its oil production, it could not offset the short supplies from Venezuela, and with Iran’s oil also unlikely to reach the global markets, OPEC needs to increase its output by at least one million barrels per day to prevent oil prices from shooting up further.

Even the US has informally urged OPEC to step up

production, and Saudi Arabia along with non-OPEC member Russia responded positively, but Iran described the US request as “crazy and astonishing”.

The US decision means sanctions will be re-imposed on Iran, coming into force after a 180-day wind-down period ending November 4. Despite the European Union (EU) seeking US exemption for its firms from the purview of the ban, many EU companies have started withdrawing from their operations in Iran.

It may be recalled that Iran has ramped up oil production by one million barrels per day, from 2.9 million barrels per day in early 2016. When the ban was lifted around the same time, it rose to 3.8 million barrels per day in April 2018.

Market watchers aound the world opine that US President Donald Trump’s decision on the Iran nuclear deal is expected to support higher oil prices. However, if oil prices continue to rise, it will force the energy-hungry nations to look at other sources, including LNG, to meet their energy demand.

THE

MOHAMMAD JAVAD ZARIF,

Foreign Minister of Iran, speaks to the

press after a meeting on the Iran nuclear

deal in Brussels, Belgium,

May 15, 2018.

EPA-EFE/Olivier Hoslet


Francisco Quintana, Head of Strategy at Foresight Advisors, says: “The upcoming two years of high prices constitute a good opportunity for gas exporters to lure customers into switching from oil to gas.”

Still, confusion prevails on how oil prices will behave as analysts are estimating how much Iranian crude will be restricted by the US decision, and also whether all nations will fall in line with regard to the sanctions. It is likely that some nations in Africa, China and the EU will ignore the sanctions and continue buying Iranian crude and do business with the Persian Gulf nation.

GCC GROWTH RATE TO ACCELERATE Awash with funds due to high oil prices till 2014, the GCC witnessed an impressive growth rate when oil prices hovered around $110 per barrel, but when prices started falling and came down to below $30 per barrel, the growth stagnated. However, with the scenario changing, many feel that these nations are back in business.

Quintana says that the rebound in oil prices will accelerate growth, and the real GDP for the entire GCC region is expected to roughly double to around 2%, though it is a notoriously poor measure of activity for them, given that it removes the impact of prices.

“In major exporting countries like Kuwait or Qatar, it’s basically counting the volume of exports. But price has a huge importance. Nominal and non-oil GDP will accelerate much faster, and governments will dust investment plans. One can expect to see a rapidly expanding pipeline of projects. In this whole picture, real estate will disappoint because the impact of high oil prices will be offset by oversupply in Qatar, Saudi Arabia and the UAE and rising interest rates,” he says.

According to him, with higher oil prices the governments will defer implementing reforms for some time. Even though the Arab Spring is long gone, the risk of triggering social unrest by cutting subsidies or salaries remains a source of concern for GCC governments. The turmoil experienced in Jordan in the last few weeks is a good example. As such, most of the reforms pushed by the International Monetary Fund and approved in 2015 and 2016 during the period of low oil prices will be put on hold.

“Kuwait has already announced that it will delay implementation of VAT, which was to begin in early 2019, by two years. Dubai and Abu Dhabi announced stimulus programmes in the last fortnight that will reduce taxes for many sectors. High oil prices will delay the adoption of many of the reforms that are needed, and were finally getting traction, to ensure the sustainability of the region,” Quintana points out.

Echoing similar feelings, international oil economist Dr Mamdouh G Salameh says that rising oil prices should enable the GCC countries first to offset the revenue losses they have suffered due to low oil prices. They could also enable them to balance their budgets and diversify their economies.

“ALL THE STUDIES SHOW THAT BETWEEN 2021 AND 2024 THERE WILL BE A SHORTAGE OF GAS BECAUSE OF HIGHER DEMAND. THEREFORE, THE LAUNCH OF OUR PROJECT WILL BE BETWEEN 2022 AND 2024, WHICH IS THE PERIOD WHEN THERE WILL BE MARKET DEMAND.”

SAAD SHERIDA AL KAABIChief Executive OfficerQatar Petroleum

Present oil revenues will also enable the GCC to expand their oil and gas production capacities. The UAE is already planning to raise its oil production to 3.5 million barrels a day (MBD) with emphasis on producing light crude oil which normally fetches a higher price, thus enabling it not only to satisfy the needs of its refineries for blending but also to compete with US shale oil.

He said Saudi Aramco was planning to spend QR1.21 trillion ($334 billion) across the oil and gas value chain by 2025, and Kuwait is expected to spend QR418.6 billion ($115 billion) on energy projects over the next five years to help boost the crude production capacity to 4 MBD by 2020.

Qatar is also planning to boost the liquefied natural gas (LNG) production capacity from its giant North Field by 30%, from 77 million tons currently to 100 million tons per year in the next seven years.

“Oil will remain the backbone of the GCC economies for the foreseeable future. However, natural gas production and exports are emerging as an important and additional source of income for countries of the Middle East,” says Dr Salameh.


Dr Nasser Saidi, President of the Dubai-based Nasser Saidi & Associates, too says the latest developments will definitely ease the fiscal pains in the GCC which have in the recent past seen removal of subsidies in a phased manner as well as the introduction of VAT and excise taxes.

While higher oil prices and thereby higher oil revenues will help soften the effects of fiscal austerity, it still remains lower than breakeven prices projected for most GCC nations. It therefore remains critical that further structural reforms be undertaken for greater economic diversification.

There have been some positive reforms in the labour market, announcements of residency (in the UAE, Qatar and Bahrain) as well as opening up sectors for 100% foreign ownership. There will be spillover effects into the non-oil sector also, alongside improvements in business and consumer confidence (already visible with the uptick in indicators like PMIs, GCC projects, slow pickup in credit growth, etc). The UAE government recently also announced several measures to reduce business costs, which will also have a positive impact on non-oil growth, says Dr Saidi.

QATAR STANDS TO GAINIn its latest commentary, the Qatar National Bank (QNB) said the monthly inidicators on trade and industrial prices showed that the country’s economy was benefitting from higher global hydrocarbon prices, further minimising the impact arising out of the diplomatic rift with its neighbouring countries.

Higher crude oil prices were helping drive the improvement, adding around QR 1 billion on a year-on-year basis but, looking at the geographical split, suggest that booming LNG demand to Asia is the key driver, QNB said.

"FOR QATAR, WHICH SUPPLIES ALMOST 25% OF THE WORLD’S LNG DEMANDS, THERE REMAINS A STRONG DEMAND FROM ASIAN ECONOMIES (ESPECIALLY CHINA) AND EUROPE. QATAR HAS ALREADY ANNOUNCED EXPANSION PLANS TO INCREASE ITS LNG EXPORT CAPACITY TO 100 MILLION MTPA BY 2024 AS AGAINST THE PRESENT OUTPUT OF 77 MTPA." DR NASSER SAIDI PresidentNasser Saidi & AssociatesDubai

QATAR GDP ANNUAL GROWTH RATE

Jan 2015

SOURCE: TRADINGECONOMICS.COM | QATAR STATISTICS AUTHORITY

5

4

3

2

1

0Jul 2015 Jan 2016 Jul 2016 Jan 2017 Jul 2017 Jan 2018

1.9

4.8

3.63.9

1.8 1.71.9 1.8

3.9

2.5

0.3

1.4

COVER STORY


Exports to Japan, the world’s largest LNG importer, were particularly strong in April, up nearly QR2 billion versus last April. Japan’s export share accordingly jumped to 20%, up from 17% in March and 15% a year ago.

While Japan’s LNG imports grew by 2.3%, China’s imports soared by 49% in 2017, allowing it to leapfrog South Korea (which registered an increase of 10.8%) as the world’s second-largest LNG importer.

Exports to India were less in April but the Indian government has committed to lift LNG to 15% of the country’s energy mix (from under 7% currently) by 2020, and with more LNG import terminals coming up, the demand is expected to increase in the next few years, and these developments certainly bring comfort to Qatar.

The global LNG imports reached 289.8 million tons (MT) in 2017, registering a growth of 9.9% (26.2 MT) compared with 2016, which is the highest growth rate since 2010. No new country has joined the list of 19 LNG producing countries in 2017, but Malta became the 40th country to import LNG in the same year.

Global credit rating agency Fitch Ratings says recovering from political disputes, a $10 per barrel increase in the price of oil could add about 4% to GDP from Qatar.

“Qatar has successfully managed the fallout from last year’s rupture of trade, financial and diplomatic relations with the quartet consisting of the United Arab Emirates, Saudi Arabia, Bahrain and Egypt,” the agency said in a report.

Moving from a fiscal deficit, accounts for Qatar could move into a surplus by next year. There’s been no escalation in the regional disputes and Qatar’s economy should

“OIL WILL REMAIN THE BACKBONE OF THE GCC ECONOMIES FOR THE FORESEEABLE FUTURE. HOWEVER, NATURAL GAS PRODUCTION AND EXPORTS ARE EMERGING AS AN IMPORTANT AND ADDITIONAL SOURCE OF INCOME FOR COUNTRIES OF THE MIDDLE EAST.”

DR MAMDOUH G SALAMEH International oil economist

Supporters attend the election campaign of Venezuelan President NICOLAS MADURO in Caracas, Venezuela, on May 17, 2018.

EPA-EFE/Cristian Hernandez

COVER STORY


improve on the back of higher crude oil prices.“Our forecasts for the government budget are based on

a baseline Brent oil price assumption of $57.5 per barrel. We estimate that a $10 increase in oil prices could lead to an improvement in the fiscal balance of around 4% of GDP relative to our forecast, all other things being equal,” the reports says.

OIL PRICE INDEXATIONThe Gas Exporting Countries Forum (GECF) feels that LNG prices need to be linked to oil prices to keep the revenue predictable for producers, particularly since some QR29.12 trillion ($8 trillion) worth of investment in the sector is needed by 2040.

In an interview with Bloomberg Markets, newly appointed head of GECF, Yury Sentyurin, says: “LNG consumers should understand the peculiarities which producers face. Security of investment and supply can only be on the basis of long-term contracts closely connected to oil prices so we could plan further investments into crucial infrastructure.”

The continued expansion of supply is needed to meet demand, which is forecast to grow at an average of 1.6% per

year until 2040.Asserting that a deep-rooted linkage between prices

of oil and gas exist, Dr Salameh says this has not only kept revenues predictable and supplies steady but also eliminated both volatility in the market and the ability of one player to influence prices and any incentives to do so.

Gas indexation to spot prices will not necessarily result in lower prices, but will definitely create problems of price volatility, which will have as a consequence the inclusion of a large risk premium in gas prices at the expense of consumers.

“Gas production costs are in fact linked to oil field development costs, and the aim of the oil and gas companies’ strategies are to develop the one or the other type of field. If average gas prices and producers’ revenues are not lucrative enough, they would prefer to invest in developing new oil fields than new gas fields,” he said.

Thus the replacement of an oil-indexed price with a gas-indexed price would have the unfortunate effect of introducing higher risks than it is presently with oil indexation. Long-term, oil-indexed contracts will remain the cornerstone of security of supply for the import-dependent countries, Dr Salameh opines.

The Middle East holds 41% of the world's natural gas reserves.

2,681 Tcf

899 Tcf

Qatar and Iran 1,945 Tcf

1,046 Tcf 2,681 Tcf

6,534 Tcf

Combined, Qatar and Iran own 73% of the gas in the Middle East.

That is just under 30% of the world's proven reserves.

Natural gas production in these countries has increased dramatically over the last eight years.

Rest of the world 4,589 Tcf

Bcf per day

'00 '02 '04 '06 '08

Iran93% increase

Qatar223% increase

12

10

8

6

4

2

Total6,534 Tcf


Dr Nasser Saidi, President of the Dubai-based Nasser Saidi & Associates, says that though the markets for crude oil and gasoline are closely linked, it was not automatic as the prices of both products moved in tandem till 2008, and there has been some divergence ever since.

Since natural gas is often a by-product of drilling for crude oil, an increase in crude oil prices may likely lead to an increase in associated gas production, which in turn might exert downward pressure on natural gas prices.

He says that oil continued to remain a global commodity versus the dominance of natural gas in regional pockets (which is influenced by factors like infrastructure, storage, inventories, etc). The natural gas price shocks post-2008 were attributed to commodity-specific events (e.g., weather-related events like hurricanes) or bottlenecks at refineries, while oil price changes are affected by geo-political changes and global tensions.

“For Qatar, which supplies almost 25% of the world’s LNG demands, there remains a strong demand from Asian economies (especially China) and Europe. Qatar has already announced expansion plans to increase its LNG export capacity to 100 million MTPA by 2024 as against the present output of 77 MTPA,” says Dr Saidi, who was former Minister of Economy and Trade and Minister of Industry of Lebanon.

QP PREDICTS GROWTH IN DEMANDPredicting the growth in demand for LNG, the government-owned entity Qatar Petroleum (QP) had last year announced increasing LNG production from 77 MT to 100 MT per annum (MTPA) by boosting production in its vast North Field gas reserves, said to be the biggest in the world, within seven years.

“LNG CONSUMERS SHOULD UNDERSTAND THE PECULIARITIES WHICH PRODUCERS FACE. SECURITY OF INVESTMENT AND SUPPLY CAN ONLY BE ON THE BASIS OF LONG-TERM CONTRACTS CLOSELY CONNECTED TO OIL PRICES SO WE COULD PLAN FURTHER INVESTMENTS INTO CRUCIAL INFRASTRUCTURE.” YURY P SENTYURIN Secretary General Gas Exporting Countries Forum


WILL PRICES DECLINE AGAIN?Though Saudi Arabia and Russia were keen to step up production levels after the request from the US, other oil exporting countries such as Iraq and Venezuela are opposing the move for various reasons, including a glut in the market.

Quintana says that even if Saudi Arabia and Russia were likely to expand production, there will not be any significant declines in prices as a result.

The three factors that are creating supply constraints will remain in place for the next year: first, the collapse in production in Venezuela; second, the new sanctions on Iran (the IEA just estimated last week that these two factors will reduce exports by 1.5MBD by year-end, while OPEC is only planning to expand output by 1MBD); and third, the shortage of pipelines in the US to bring oil to its ports.

“As these issues will take at least a year to be addressed, we expect prices to end the year at around $72 per barrel. We also expect the market to be balanced in 2019 and prices to decline in late 2019 and 2020 on account of softening demand,” he says.

But Saidi believes that oil prices will settle around the $55-$65 per barrel mark in the medium term and there are various supply and demand-side factors that affect the oil prices, including factors like production of shale oil, competitive renewable energy, energy efficiency policies, meeting commitments of COP 21 and beyond, etc.

However, Dr Salameh is very optimistic.Oil prices underpinned by a global economy projected to

grow by 3.9% in both 2018 and 2019, a fast-growing global oil demand adding 2 MBD to global demand this year, surging Chinese oil imports and a virtually re-balanced oil market could see oil prices surging beyond $80 a barrel this year, rising to $80-$85 next year, and hitting $100 by 2020.

“Iran may not lose a single barrel of its oil exports as a result of the forthcoming US sanctions for two reasons. One is that the European Union (EU) has already indicated that it will stay in the Iran nuclear deal and will not comply with US sanctions and will, therefore, continue to import Iranian oil. The second reason is that Iran will be using the petro-yuan for its oil exports to China, the euro for its exports to the EU and barter trade with Turkey, Russia and India, virtually neutralising the impact of the US sanctions,” he says.

Were Saudi Arabia to accede to President Trump’s request, it will be risking unravelling the OPEC deal that has brought an end to the glut in the global oil market and pushed prices to $80 and also inflicting huge damage again on the Saudi economy, which is already spending blood and treasure in the war in Yemen.

Instead, OPEC members should aim at maximising the return on their finite assets to the highest level that the global economy could tolerate. “Judging by the robust fundamentals of the global oil market, I believe that the oil price has a long way to rise before the global economy reaches its threshold of tolerance,” adds Dr Salameh

“THE UPCOMING TWO YEARS OF HIGH PRICES CONSTITUTE A GOOD OPPORTUNITY FOR GAS EXPORTERS TO LURE CUSTOMERS INTO SWITCHING FROM OIL TO GAS.”

FRANCISCO QUINTANAHead of Strategy at Foresight Advisors

COVER STORY

QP CEO Saad Sherida Al Kaabi says the demand for liquefied gas was growing faster than that for oil. “LNG supplies are abundant now, and there are many projects under development, but the expected growth in demand is very large.”

“All the studies show that between 2021 and 2024 there will be a shortage of gas because of higher demand. Therefore, the launch of our project will be between 2022 and 2024, which is the period when there will be market demand,” he says.

Expanding its global footprint, QP has also signed an agreement with ExxonMobil to acquire a 30% stake in two of Exxon’s affiliates in Argentina – ExxonMobil Exploration Argentina S.R.L. and Mobil Argentina S.A. – which holds rights with other partners for seven blocks, giving QP access to oil and gas shale assets in the Latin American country.

“This agreement goes hand in hand with the planned expansion of our local production from the North Field, which will further boost Qatar’s leading global position by raising its LNG production from 77 million to 100 million tons per year,” the CEO adds.


T he process of hiring and seeking employment is full of challenges and obstacles. For those seeking employment, they are challenged by tough

competition due to the fact that the number of vacancies is lower than the number of applicants. However, competition among employers for the best talent can prove to be equally challenging.

With so much competition in the market, it becomes prudent to distinguish your company amongst other industry giants. This is easier said than done, but not impossible. As a small and medium enterprise (SME), you may have difficulty attracting highly qualified talent to fill your vacancies, but you can overcome that

through efficient, effective and powerful employer branding.

One of the most influential steps to improving your recruitment is employer branding. Employer brand is commonly used to describe an organisation’s reputation as an employer and its value proposition to its employees, as opposed to its corporate brand reputation and value proposition to customers. Nowadays, professionals seek employment at organisations that provide a healthy work environment, a thriving organisational culture, and a rewards and recognition programme. It’s no longer just about the salary. When a jobseeker considers working somewhere, the factors mentioned above and several others are heavily taken into account.

affairs > bottom line

ATTRACTING TOP TALENT FOR SMALL BUSINESSES

BAYT.COM TALKS ABOUT BRAND BUILDING TIPS FOR SMALL AND MEDIUM-SIZED ENTERPRISES.


In order to have a winning employer brand as a small or medium-sized enterprise, you need to cater to what professionals expect from you. Here are four things you can implement starting today in order to improve your employer brand for 2018.

Give your brand identity a second lookThe oldest trick in the book is one of the most important – brand association. In order to create a brand that people associate positive things to, there are many items that you should take into consideration such as detailed and exciting descriptions of your job postings, the celebratory presentation of your staff on your website and social media, and the harmonised vision, mission, values and culture that are well articulated and supportive of your employer brand.

Attract employees with unconvention-al perksMillennials will soon constitute the majority of the global workforce. Their fresh perspectives and unprecedented technology savviness bring something new to the table. Even their priorities and expectations do not conform to yesterday’s methodologies. For instance, a good work-life balance and training opportunities top the list of loyalty factors for this group of employees, according to the Bayt.com Millennials in the Middle East and North Africa Survey.

This is why companies including SMEs should keep up with employee values and expectations when structuring their employer brand. While salary is very important, professionals are also looking for other perks such as training opportunities, wellness programmes like gym subscriptions and nutrition counselling, entertainment at the office, flexible work schedules, and so on. Such perks help create the environment that’s sought-after and will make your company more desirable to work for.

Give your online presence a human layerIt’s no secret that we live in the digital era.

A single bad tweet can make or break your employer brand. Among the best ways to let people know about your work environment is being active online and engaging with your audience. Humanising the digital approach is essential to make potential employees relate to your company. People actually want to reach out to you and be heard. According to the Bayt.com Social Recruiting in the Middle East and North Africa poll, 55% of respondents feel that they are more likely to get hired if they engage with the company online. Instead of utilising your online presence only to pitch at your audience and market a product or a service, engage and spark conversations. Let your employees talk to your audience. It will generate positive feedback to your employer brand.

Make use of brand ambassadorsWe’re not talking about hiring people and paying them to represent your employer brand. This approach lacks genuine fondness of your brand and only works at face value. Instead, focus on creating a great working environment, devise an engaging and strong marketing plan, run your social media channels in a humanised manner, and watch your loyalty and positive reputation grow. By implementing these techniques the satisfaction and loyalty of your employees will increase and your employees will voluntarily spread a good word about the company. Hence your employees become the best brand ambassadors as they speak about your company for the good experience that they have had. Even your customers, partners, suppliers and all stakeholders can potentially become your brand ambassadors if you adopt these strategies.

There is no doubt that companies need to keep up with evolving times. And not just in the technological sense, but also in their employee growth and retention efforts. To excel in this matter, building your employer brand and making it attractive for qualified and talented jobseekers is just the beginning. But right now, you should take the first step and start building your employer brand

ABOUT BAYT.COM

Bayt.com is the #1 job site in the Middle East with more than 40,000 employers and over 30,000,000 registered job seekers from across the Middle East, North Africa and the globe, representing 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.


I nvestment in renewable energy sources is incentivized in many regions across the globe. The majority of policies in place promote taxes on carbon emissions and minimum prices for renewable energies injected

into the grid. However, sometimes these policies fail to take the intermittent nature of many renewable energy sources into account. “A backup supply may be needed for the times when renewable energy can’t be produced,” says Sam Aflaki, Professor of Management and Information Technology, HEC Paris. “This may very well come from carbon-emitting generators.”

Carbon taxes and pricing mechanisms are enforced to make renewables more competitive against traditional, often more polluting methods of power generation. However, some renewable energy sources, such as wind and solar power, are inherently intermittent. At night, no solar power can be generated, and on calm days,

there is often very little wind. These energy sources are subject to random variation and less predictable supply. To ensure energy is added to the grid continuously and to avoid costly power cuts, energy suppliers need to make up for renewable intermittency. “Instant backup electricity is generated from technologies such as hydropower and legacy gas-fired plants that are on spinning reserve,” explains Aflaki. “These provide near immediate power when renewable energy is not being generated. However, some, such as the latter, emit greenhouse gases and come with a carbon cost that has the potential to reduce the economic and environmental benefits of investing in renewables.”

Carbon-costly backups cause incen-tives to fail Aflaki and Serguei Netessine, Professor of operations, information and decisions, Wharton School of the University of

A NEW RESEARCH PAPER BY PROFESSORS SAM AFLAKI AND SERGUEI NETESSINE UNRAVELS SOME OF THE PROBLEMS ASSOCIATED WITH RENEWABLE ENERGY INCENTIVE POLICIES.

A CATCH-22 SITUATION

affairs > bottom line


Pennsylvania, set out to understand the extent to which using carbon-costly backups can discourage investment in renewables. “Our model revealed that the intermittency of renewable technologies drives the effectiveness of carbon pricing mechanisms. This means that charging more for carbon emissions can mean renewables get a smaller share of investment when compared to modern and efficient fossil fuel sources,” says Aflaki. “This is facilitated by today’s liberalised energy market. The market has been restructured over the last 20 years to foster competition and reduce retail prices, so now electricity is a commodity that can be traded in wholesale electricity markets. These dynamics can contribute to the amplification of the aforementioned negative effect on investment in intermittent renewables.”

Aflaki and Netessine’s model shows that in some cases even higher carbon taxes lead to a lower portion of renewables in the grid. “This is okay because higher carbon taxes always lead to lower emissions, but we do not necessarily see an increase in the share of energy generated by renewables,” notes Aflaki. “This is in contrast to one of the main goals of carbon taxation – to make renewables more competitive and available – so intermittency and the technology used as a backup need to be considered carefully by policymakers.”

Rethinking renewables to increase in-vestment There are many ways to disentangle the links between carbon taxation and backup power generation that are viable, according to Aflaki. For example, you can use a renewable energy source as the backup power source. “Solar and wind energy are negatively correlated in many regions, so if you combine these, you can reduce the need for costly and emission-intensive backup,” he says further. “There is also the option of storing energy in batteries, or in other forms of potential energy through a number of innovative technologies. For example, you can use a renewable energy source as the backup power source.”

Aflaki emphasises that, for energy production to be sustainable, investment in renewables must increase. “To do so,

we need to tackle the intermittency issue, along with other incentives,” he says. “We need to think of new and smarter ways – examples include better battery technology, pairing negatively correlated sources in a regional portfolio as well as other explorative measures such as storing electricity as potential energy – to address this aspect of renewables to ensure that they continue to supply an increasing portion of the grid with energy in the years to come.”

Practical applications“It is hoped that the paper can be used to influence policymakers and it is currently being used to brief some US senators,” says Aflaki. “We want to make it clear that, in the case of intermittent renewable energy sources, it is important to take into account the real impacts of carbon taxes and other measures such as feed-in tariffs, which are designed to encourage investment in renewables but don’t always have the intended effects.” Aflaki concludes: “In order to make renewable technologies more competitive on a cost basis, we must have a more comprehensive notion of the cost of renewables. This should include the cost of intermittency or the cost of the backup and its associated effect on the environment.” He suggests policymakers adopt a holistic approach to renewables that takes intermittency into account and tailors the backup power options to individual energy supply scenarios.

MethodologyTo analyse the incentives for investing in the renewable energy sector, Aflaki and Netessine created a static, game-theoretic model of the trade-offs associated with investing in intermittent renewable sources. With reference to existing electricity markets, they modelled the effect of carbon taxes and feed-in tariffs on the cost and share of wind capacity in an energy portfolio. They found that the intermittent nature of renewables impacts the effectiveness of carbon pricing mechanisms, making carbon emission taxes a potential deterrent for investors.

The content for this article was provided by HEC Paris

ABOUT HEC PARIS

Founded in 1881 by the Paris Chamber of Commerce and Industry, HEC Paris is a founding member of Université Paris-Saclay. In 2010, HEC Paris joined Qatar Foundation and brought Executive Education programmes and research activity to Qatar and the rest of the region.


aviation > tag this

H eadquartered in Switzerland, Swissport International Ltd. operates in more than 300 airports, and earlier this year the company’s global presence

increased to 50 countries. They provided ground services to 250 million passengers and handled 4.7 million tonnes of cargo for 850 companies in 2017.

Swissport was also one of the major participants at the 2018 IATA Ground Handling Conference (IGHC) held in Doha. “We attend a lot of these conferences every year and one which we have always prioritised is the IGHC conference,” says the company’s Chief Commercial Officer, Nils Pries Knudsen, adding: “We have one of our prized customers Qatar Airways

(QA) here, with whom we work very closely.With regard to the latest developments

concerning the aviation industry, Knudsen says that there are many things on the agenda right now, and quite a few changes and updates are being planned in the regulatory schemes, i.e., the way business is contracted between airlines and ground handlers.

“This is an ongoing discussion which usually takes place in the IATA (International Air Transport Association) network, where Swissport is also a very active player. The other element which is becoming more and more evident is the need to reduce our dependence on labour. So, whether we talk ground handling, passenger services like check-in, etc., or cargo warehouses, the common factor for all those businesses is that they are labour-intensive. This is an aspect where we will need to spend a lot of time and energy. The global economy and the aviation sector are growing, and it's becoming more and more difficult for us to attract and retain qualified manpower.”

Providing details about Swissport’s association with Qatar Airways, Knudsen says that even though the company does not operate in Doha, they served QA in many other airports around the world. “We are the single largest supplier of ground services for Qatar Airways outside Doha. The reason for that is that we have a set way of working with them. So it’s quite easy for us to start a new business with Qatar Airways, or if QA starts a new route and we are present, we already have a way to work together and it becomes easy for us to start operations.”

Unfortunately, Swissport wasn’t in the news for the right reasons earlier this year. There were lengthy delays for passengers of Sunwing Airlines in Canada; for some the ordeal lasted for as long as five days. Swissport apologised and even acknowledged that about 80 staff members did not show up for work during that particular weekend because

NILS PRIES KNUDSEN, CCO OF SWISSPORT INTERNATIONAL LTD., LEADING PROVIDERS OF GROUND HANDLING AND AIR CARGO SERVICES WORLDWIDE, TALKS EXCLUSIVELY TO QATAR TODAY.

HANDLINGWITH CARE

BY UDAYAN NAG

“WE ARE THE SINGLE LARGEST SUPPLIER OF GROUND SERVICES FOR QATAR AIRWAYS OUTSIDE DOHA. THE REASON FOR THAT IS THAT WE HAVE A SET WAY OF WORKING WITH THEM.”


of inclement weather. The company, along with Aviapartner and Menzies Aviation, was also involved in protests against heavy workloads and salary issues at Schiphol Airport in Amsterdam. Apart from that, Swissport’s planned initial public offering (IPO) deal with Chinese conglomerate HNA was put on hold.

Commenting on the Sunwing incident, Knudsen says: “We are in a business where we have around 70,000 people working globally for us. We cannot say we are flawless. There will always be untoward incidents. It’s part of life. However, when a mistake happens, the recovery service is the most important thing. That's when you can shine. We recently did a survey and it was clear that the customers who had an unsavoury experience were more satisfied, after the issue was sorted out, than those who did not.”

Explaining the unrest at Schiphol Airport, “union pressure”, according to Knudsen, leads to the aforementioned situations. “Sometimes unions, which are quite strong in Europe and North America, exaggerate a certain matter in order to get their agenda across. It's a normal process and we are all professionals. From time to time we go through this process, but

obviously since there are so many people engaged, we manage our relationships amicably.”

As far as the IPO with Chinese conglomerate HNA is concerned, Knudsen says that it’s still on the table. “It was something that our owners HNA wanted to pursue. The decision was taken in January. However, about 10 weeks into the

IPO process, it was decided in April not to pursue it for the time being due to market conditions not being conducive enough. So our owners did not want to go through with it and deferred it. But it might still happen.”

In March, Swissport concluded the acquisition of Aerocare, the leading aviation services and airport infrastructure services provider in Australia and New Zealand, and its subsidiaries Skycare, Carbridge and EasyCart from Archer Capital and the Aerocare management. The move meant that the company’s global presence increased to 315 airports in 50 countries.

And finally, regarding the company’s ambitions for the rest of the region, Knudsen says: “We started our operations in Oman two years ago, which has proven to be successful and we are hoping to see it grow further. This is a good model to analyse all the neighbouring countries within the region to see where Swissport could offer its services. But it all depends on whether there’s enough business for a second handler, which might not be the case if the airports are too close to each other. So, we have to investigate and be sure that if we make a move, there’s actually going to be good business.”

“WHEN A MISTAKE HAPPENS, THE RECOVERY SERVICE

IS THE MOST IMPORTANT THING. THAT'S WHEN YOU CAN SHINE. WE RECENTLY DID A SURVEY AND IT WAS

CLEAR THAT THE CUSTOMERS WHO HAD AN UNSAVOURY EXPERIENCE WERE MORE

SATISFIED, AFTER THE ISSUE WAS SORTED OUT, THAN

THOSE WHO DID NOT.”


T echnology giant Oracle Corporation has been grabbing the headlines with a fair degree of regularity this year. In March, the company was part of

a deal in which Boeing subsidiary Tapestry Solutions also teamed up with Accenture and Mannai to build Qatar Military’s ERP/Logistics System. A month later, during a private dinner with US President Donald Trump, Oracle’s chief executive Safra Catz criticised the bidding process for a Pentagon cloud computing contract, which they themselves are pitching for, involving the US Defense Department. Other than that, the company also recently made updates to its Human Capital Management (HCM) Cloud release to introduce Artificial

Intelligence (AI) for the Human Resource (HR) sector.

With regard to the organisation’s ambitions for Qatar, Gulf Oracle’s Vice President of Business Applications, Rahul Misra, says: “Qatar is a priority market for Oracle and we have made significant investments to ramp up the Software as a Service (SaaS) business in the country, to manage the increasing demand for Oracle Cloud in Qatar. Furthermore, we are committed to introduce our latest cloud innovations to enable our Qatari customers do things they were never able to do before.”

Misra further says that in the last year alone Oracle introduced AI-based applications for finance, human resources, supply chain, manufacturing, commerce,

customer service, marketing, and sales professionals. “The new Oracle Adaptive Intelligent applications are built into the existing Oracle Cloud Applications to deliver the industry’s most powerful AI-based modern business applications.”

He adds that Oracle has also introduced the Internet of Things (IoT) Cloud with built-in AI and machine-learning capabilities in Qatar. “As such, our customers and partners can quickly gain operation-wide visibility and leverage predictive insights from connected assets. These insights can decrease deployment times, reduce costs, improve business outcomes, and accelerate new market opportunities.

Misra also says that Oracle has launched

affairs > tech talk

IN AN EXCLUSIVE INTERVIEW WITH QATAR TODAY, GULF ORACLE’S VICE PRESIDENT OF BUSINESS APPLICATIONS, RAHUL MISRA, TALKS

ABOUT THE COMPANY’S PRESENCE IN THE COUNTRY.

CLOUD NINEBY UDAYAN NAG


the innovative Cloud at Customer solution in Qatar, with a focus on empowering organisations to move workloads to the cloud while keeping their data on their own premises. “Oracle Cloud at Customer is designed to enable organisations to remove one of the biggest obstacles to cloud adoption-data privacy concerns related to where the data is stored.”

“While organisations are eager to move their enterprise workloads to the public cloud, many have been constrained by business, legislative and regulatory requirements that have prevented them from being able to adopt the technology. These first-of-a-kind services provide organisations with choice in where their data and applications reside and a natural path to easily move business-critical applications eventually to the public cloud.”

More recently, Oracle Executive Chairman and CTO Larry Ellison announced the availability of the first service based on the revolutionary new Oracle Autonomous Database. The world’s first self-managing, self-securing, self-repairing database cloud service, Oracle Autonomous Data Warehouse Cloud uses machine learning to deliver industry-leading performance, security capabilities, and availability with no human intervention, at half the cost of other web services.

“Our customers in Qatar are excited about these developments and they firmly believe that with Oracle’s ability to deliver solutions at every layer of the cloud stack (SaaS, IaaS, DbaaS and PaaS) they can tackle digital disruption head-on,” says Misra.

Commenting on the cloud market in Qatar, Misra says that its adoption is certainly on the rise in the country. IDC (International Data Corporation) estimates that IT spending in Qatar will reach $1.8 billion in 2018. Government, financial services, media and communication, manufacturing, and retail are some of the key sectors leading this transformation in Qatar.

“Education regarding the irrefutable benefits of cloud is key, and at Oracle we are working towards raising awareness across key stakeholders in Qatar with specialised events, webinars, research studies, etc.”

Talking about what differentiates Oracle from other cloud providers in the region, Misra points out that Oracle offers a complete range of services in all three primary layers of the cloud: Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service

(IaaS). According to him, that depth of product knowledge at every layer allows the company to deliver real, powerful value by freeing up resources and driving innovation.

“We provide a hybrid model that allows customers to deploy in the cloud, on premises, or in their own data centres. We believe an integrated solution must span both on-premise and cloud, because applications and information live in both and will potentially co-exist for years. Customers must address these together.

“Only Oracle allows customers to consume public cloud services while keeping their data behind their own firewall. This is done with the Oracle Cloud Machine that is part of Oracle’s Cloud at Customer offering.”

And, when asked about the organisation’s innovation strategies, Misra says that at Oracle R&D is a key priority for them to create products that match their customers’ expectations. “Our investment in annual research and development reached $6.2 billion in our last financial year.”

“We are focused on driving cloud-led digital transformation across Qatar’s public and private sector organisations. Cloud adoption is on the rise in Qatar, and organisations in the country have initiated major transformation projects to offer new products, expand into new markets, hire and retain best talent, or deliver an exceptional customer experience.”

“QATAR IS A PRIORITY MARKET FOR ORACLE

AND WE HAVE MADE SIGNIFICANT

INVESTMENTS TO RAMP UP THE SOFTWARE AS A

SERVICE (SAAS) BUSINESS IN THE COUNTRY.”


affairs > tech talk

Apple will attempt to block tools used by social media platforms, to automatically track web users, within the next version of its

mobile and desktop operating systems. The move is expected to have an effect on Facebook features, e.g., its ‘Like’ button.

Apple recently announced its iOS 12, the latest version of its mobile operating system and also previewed macOS ‘Mojave’, the latest version of its desktop operating system. Apart from making daily tasks faster and giving parents new

tools to have more control of the time children spend interacting with iPhones and iPads, iOS 12 will also have new privacy features.

In the web browser Safari, enhanced ‘Intelligent Tracking Prevention’ helps block social media ‘Like’ or ‘Share’ buttons and comment widgets from tracking users without permission, the Cupertino, California-headquartered tech giant said.

According to industry experts, the move is likely to add to tensions between Apple and Facebook.

APPLE SNUBS FACEBOOK’S WEB-TRACKING TOOLS

Started in 2008, GitHub has more than 28 million users around the world, and allows developers to cooperatively manage software.

In a statement, the company’s chief executive Satya Nadella said: “Microsoft is a developer-first company, and by joining

forces with GitHub we strengthen our commitment to developer freedom, openness and innovation.”

He added: “We recognise the community responsibility we take on with this agreement and will do our best work to empower every developer to build, innovate and solve the world’s most pressing challenges.”

Microsoft also said that GitHub will retain its developer-first ethos and will operate independently to provide an open platform for all developers in all industries.

In a move aimed at blending two opposite corporate cultures, Microsoft said it will buy software development platform GitHub for $7.5 billion.

According to ASML’s chief operating officer Frederic Schneider-Maunoury: “There is more power in your smartphone today than was used to put man on the moon.”

The company’s newest machines use highly focused extreme ultra-violet (EUV) light to imprint designs on the chips, and are at the cutting-edge of what is scientifically and technologically possible in the art of miniaturisation.

“Our problem is not just to find the technologies, we then have to put it into the products in an economical way,” said Schneider-Maunoury.

Last year ASML shipped its first 12 EUV machines to clients, each costing about $145 million.

PERFECTING ‘MICROCHIP SHRINK’ FOR TECH GIANTSSince its foundation in 1984, Dutch firm ASML has become a world leader in the semiconductor business. And the company is pushing the boundaries of ‘the shrink’ - the challenge of how to pack more circuits onto the microchips, which power our phones, computers and even coffee machines.

MICROSOFT TO ACQUIRE GITHUB


“Here in the GCC region consumers are always looking for more from their smartphones. They are quick to adopt the best technology in the market, and we take pride in being able to consistently bring them the advanced devices they’ve come to expect,” said Tarek Sabbagh, Head of IT and Mobile (IM) Division at Samsung Electronics Gulf.

“With the Galaxy A6 and A6+ we aim to provide a premium smartphone experience while still delivering on consumers’ needs for practicality and convenience at affordable prices. What’s more, we have added an impressive camera to the Galaxy A6 and A6+ that lets users capture, personalise and share their most memorable moments.”

Qatar Computing Research Institute (QCRI), part of Hamad Bin Khalifa University (HBKU), is poised to launch the QCRI Center for Artificial Intelligence (Q-CAI),

an initiative that plans to ramp up the development of artificial intelligence (AI) technologies to serve the domestic needs of Qatar and to position the country as a global leader in AI.

Q-CAI, scheduled to open this fall, will focus on research, education and policy initiatives that will position Qatar and promote organic homegrown AI technologies, as well as embrace emerging solutions.

The centre will also develop policy guidelines for the citizens of Qatar to use AI in a manner consistent with local cultural norms and work with education providers from kindergarten to universities to create programmes that promote knowledge of AI within the Qatari education system.

Huawei Consumer Business Group (CBG) introduced a new era of smartphone photography with the launch of the HUAWEI P20 Pro in Qatar, which features a 40 MP Leica Triple Camera with Master AI. The HUAWEI P20 Pro delivers a powerful yet effortless intelligent photography experience

powered by AI, allowing consumers to see more through the camera. The Master AI Photography zone allows one to test the AI-powered real-time

scene and object recognition technology, which automatically recognises more than 500 scenarios in 19 categories, and selects photography modes such as a cat or greenery.

Once an object or a scene is identified, Huawei P20 PRO will automatically adjust to give a result which looks close to professional photography. Further, the AI-powered gallery grades your images and highlights your best shots from the day.

GALAXY A6 AND A6+ LAUNCHED IN QATAR

Samsung Gulf Electronics recently announced the launch of the Galaxy A6 and A6+ in Qatar. Featuring a powerful front and rear camera, a sleek premium design, super AMOLED screens and Samsung’s signature Infinity Display, the new Galaxy A series is available in three colours – black, gold and blue.

HUAWEI INTRODUCES P20 PRO TO QATAR

QCRI TO LAUNCH CENTRE FOR ARTIFICIAL INTELLIGENCE


affairs > auto news

Mohamed Jaidah, Group Executive Director of Jaidah Group, introduced the brand new arrival to the media. “Building an entirely new brand from scratch is an audacious undertaking. That’s exactly what the team at Genesis delivered – a dream for any car designer. It’s been decades since such an event took place in

the auto industry. And my team at Skyline Automotive and Jaidah Group and I wanted to make sure that automotive aficionados in Qatar had the chance to experience this historic journey from the start.”

The Genesis G70 will be available in two variants: a 2.0 litre turbocharged engine and a sport variant with a 3.3 litre turbocharged engine.

Skyline Automotive W.L.L., a Jaidah Group company and official distribution partners of Hyundai Motor Company for the state of Qatar, unveiled the all-new Genesis G70 as the third Genesis model in Qatar, completing the luxury sedan lineup with the brand’s most compact model.

GENESIS G70 LUXURY SEDAN ARRIVES IN QATAR

Mazda Motor Corporation has announced that its cumulative production in Japan reached 50 million units in May. The company

held a commemorative ceremony recently at its Hofu Plant in Yamaguchi prefecture. Representative Director, President and CEO Masamichi Kogai, executive officers and union representatives were in attendance. The 50 million-unit milestone was achieved 86 years and seven months after Mazda produced its first three-wheeled truck in October 1931.

“Mazda began making cars 86 years ago, and now we’ve reached 50 million units of production in Japan. Even making one million cars a year, it would take 50 years to reach this milestone, showing just how long Mazda’s history is,” said Kogai at the ceremony.

“Moving forward, Mazda will continue to build a strong brand through a variety of initiatives. Our plants in Hofu and Hiroshima will continue to evolve and act as parent factories, rapidly deploying their technologies and skills to our overseas plants,” he added.

Porsche Design and Huawei recently launched the PORSCHE DESIGN HUAWEI Mate RS, which incorporates Porsche Design’s signature design language and Huawei’s breakthrough technology and craftsmanship.

MAZDA CELEBRATES 50 MILLION VEHICLES MADE IN JAPAN


Cullinan, the first-ever SUV in the history of Rolls-Royce Motor Cars, was unveiled to privileged guests, top-tier customers and invited members of the press during an exclusive event in May.

Marking Rolls-Royce’s debut in the SUV market, the Cullinan has been created to meet the demands of customers in the region, and around the globe, who desire a combination of high-end refinement, superior comfort and powerful off-road capabilities.

“The Cullinan marks the next stage in the ongoing development of Rolls-Royce in the Middle East,” said Rabih Ataya, General Manager, Rolls-Royce Motor Cars Doha.

The offer granted them a complimentary 53-point vehicle health check and report, along with special prices for AC cleaning starting from QR432, and AC disinfectant cleaning

starting from QR750. “We are proud to achieve what we have always

promised to provide – the best prices and the finest after-sales service to our customers across the State of Qatar,” said Sheikh Faleh bin Nawaf Al Thani, Operations Director, Auto, NBK Holding. “We at Nasser Bin Khaled Automobiles consider customers’ satisfaction as our top priority and value each and every one of our vehicle owners.”

NBK Automobiles is the authorised general distributor of Mercedes-Benz in Qatar.

Addressing the attendees about the objective of the club, Firas Mufti - Senior Marketing Manager - Lexus, said: “The whole purpose of the club is to build a community for thrill seekers and have them

participate on a regular basis in get-togethers and different functions in which they can compare each other’s rides and interact with other F owners from all around the country.”

The launch was also attended by owners of Lexus F and F Sport models, along with new club members, who enjoyed a full day of thrills by driving their vehicles and test driving high-performance Lexus F models.

ROLLS-ROYCE’S NEW CULLINAN SUV NOW IN QATARRolls-Royce Motor Cars Doha, the authorised dealers of the brand in Qatar, has officially unveiled the new Rolls-Royce Cullinan.

NBK’S SPECIAL ‘AC SERVICE CAMPAIGN’ FOR SUMMER

In an effort to enable its customers to beat the heat, Nasser Bin Khaled (NBK) Automobiles gave Mercedes-Benz owners a chance to check the readiness of their cars’ air-conditioning systems before June 30.

OFFICIAL LEXUS F-CLUB LAUNCHED IN QATAR, COURTESY AABIn a landmark event attended by members of the press and social media specialists, Abdullah Abdulghani & Bros Co., the exclusive distributors of Lexus in Qatar, launched the first official Lexus F Club in the country. Lusail International Circuit was the venue for this adrenaline-fuelled event.


business > marketwatch

The robots, nicknamed Jassim and Noor, have already adapted to the environment of the bank and begun interacting with both customers and employees on diverse subjects ranging from product and services to general knowledge and fun.

With this launch, the bank aims to sensitise the community on the rapid advances in smart banking capabilities around us. “The technology will complement Al Khaliji’s existing IT infrastructure and help our employees to add a unique experience for our customers,” said Rana Al Asaad, Head of Personal Banking, Al Khaliji. “This addition, we are sure, will only accelerate the need for the bank to bring in more innovative products and services for its customers in the coming days.”

AL KHALIJI LAUNCHES FIRST HUMANOID ROBOTS IN QATARAl Khaliji Bank (al khaliji) P.Q.S.C. introduced and launched state-of-the-art humanoid robots for the very first time in Qatar.

Qur’anic Botanic Garden (QBG), a member of Qatar Foundation (QF), successfully established an ambitious programme for high

school students designed to promote the value of food sustainability.

As part of the ongoing programme, students attended workshops at QBG and gathered knowledge from experts from the Ministry of Municipality and Environment and the private sector. Participants have

also been given the opportunity to meet with local business people who work within the food industry, to learn about the challenges and obstacles that they face on a day-to-day basis.

In addition, QBG also houses a small-scale farm on-site at Education City, growing a variety of fruits, vegetables, and herbs, including tomatoes, onions, garlic, parsley and dill – enabling students to learn first-hand how to cultivate produce.

PROMOTING SUSTAINABLE FOOD PRODUCTION

Since the Saudi Arabia-led blockade imposed on Qatar a year ago, a number of organisations have launched innovative food security programmes. Barwa Bank’s new Corporate ATM service, offering

its corporate customers additional features that allow organisations to enhance the efficiency of their day-to-day business flow in the safest and most secure way possible, comes in line with the bank’s commitment to constantly enhance its customers’ banking experience.

On this occasion, Barwa Bank said in a statement: “In line with our commitment to providing innovative and convenient banking products and solutions for our esteemed corporate customers, we have launched our corporate ATM to ensure successful, fast and secure transactions, whilst reducing waiting time.”

The new corporate ATM provides several facilities, such as cash deposit and withdrawal services, cheque deposit services and full-size statement printing – a new feature allowing customers to print statements for up to six months.

In line with its continuous efforts to provide innovative services to its corporate customers in Qatar, Barwa Bank recently launched its corporate ATM at its main branch.

BARWA BANK LAUNCHES ITS CORPORATE ATM


Carrying on from where it left off last year, Turkish Airlines maintained its success with the same momentum in 2018.

The exclusive event welcomed VIPs, fashionistas and valued customers to meet the creative force behind the brand, sisters Maqdeem and Aisha Al Naama, and view their biggest collection to date. Guests were introduced to the elegant, ready-to-wear Resort Collection, which features a wide range of timeless pieces that offer endless styling possibilities. From stylish co-ordinates such as wide-leg trousers and chic blouses to maxi skirts, dresses and sophisticated tunics in a fresh summer palette, this contemporary collection can be dressed up and down for all occasions.

Perfect for warm weather climates, the pieces are lightweight and versatile and can be worn day or night, making them a must-have addition for your travel wardrobe.

According to the April 2018 Traffic Results, upon the double-digit passenger increases in the first quarter of the year, the total number of passengers carried went up by 6.4 million (15%). This passenger increase enabled the highest April load factor (83.2%) in Turkish Airlines’ history.

Excluding international-to-international transfer passengers (transit passengers), the number of international passengers went up by 30%. This has been an important indicator of the continued growing interest in Turkey.

Cargo/mail volume increased by 18% in April 2018, compared to April 2017. Main contributors to the growth in cargo/mail volume were North America with a 27% increase, the Middle East, Africa, domestic lines, which saw a 26% increase, and Europe, which registered an increase of 19%.

The opening of the new shopping centre comes as the company aims to bring to life the Qatar National Vision 2030, by providing the highest-quality products at competitive prices to the communities in which it operates, as well as keep pace with

the urban and population boom which Qatar is witnessing.

The new 3350 m2 store has been equipped to serve residents in the area with fresh sections that Al Meera clients have become accustomed to; the sections include a butchery, fishery, bakery and a delicatessen.

Commenting on the occasion, Eng Salah Al Hammadi, Al Meera’s Deputy CEO, said: “The opening of Al Meera’s new branch brings our seamlessly integrated shopping experience to the residents of Azghawa, and demonstrates our unwavering commitment to meeting our customers’ expectations.”

TURKISH AIRLINES ANNOUNCES PASSENGER, CARGO TRAFFIC RESULTSQATAR’S DYNAMIC

DESIGN DUOYoung, promising and set to create an impact on modern women around the world, Qatari fashion brand, Maqdeem, celebrated the launch of their Resort Collection at La Boutique Blanche.

AL MEERA ANNOUNCES THE OPENING OF ITS 51ST BRANCHAs part of its expansion strategy, Al Meera Consumer Goods Company (QSC) has opened a second branch in Azghawa.


city life > doha diary

The ceremony was attended by parents, teachers, students and members of the ACS Board from the UK, with Ghada Darwish, founder and Chairman of Darwish Law Firm, acting as the ceremony’s guest speaker. The theme of the ceremony was ‘leave a fingerprint’.

Urging the students to think of their legacies, Darwish said: “I believe that we are all defined by the trail we leave behind us, defined by the effect and impact we leave on our family, community, society and humanity. When you do, and whatever you do, make sure it is sustainable and worth doing, and make sure it becomes your legacy; leave a trail, and leave a fingerprint behind.”

ACS Doha International School hosted its high school graduation ceremony at The Ritz Carlton, Doha to celebrate the achievements of 32 graduates. The graduation is the school’s third since opening in 2011.

ACS DOHA CELEBRATES GRADUATING CLASS OF 2018

Showcasing Qatar’s commitment to its higher education sector, delegates from Hamad Bin Khalifa University (HBKU) and Qatar University

(QU) participated in the internationally renowned NAFSA Annual Conference and Expo in Philadelphia, Pennsylvania, from May 27 to June 1, 2018. Qatar’s participation was well represented with the HBKU and QU delegates assembling within a dedicated Qatar Pavilion for the duration of the conference.

A non-profit organisation, NAFSA’s mission is to foster education and understanding among people of diverse backgrounds in an effort to build leadership within a global community. With nearly 10,000 attendees visiting from more than 3,500 institutions and organisations in over 100 countries, NAFSA’s annual conference attracts a wide range of academic experts within a uniquely comprehensive international education event.

This year marks HBKU’s fourth participation in the NAFSA conference, giving HBKU and QU an international arena to display their drive for superior education and reconfirm their collaborative efforts.

HBKU, QU DELEGATES ATTEND GLOBAL EDUCATION CONFERENCE

Passengers through Hamad International Airport (HIA) were able to take part in the celebrations of Garangao this Ramadan. Media guests were invited to HIA where a musaher (traditional drummer) was parading the terminals, accompanied by mascot characters, Joud and Saoud, handing out sweets to children.


Recent exhibitions audited include the International Agricultural Exhibition (AgriteQ 2018), the 15th Project Qatar exhibition, and Cityscape exhibition at the Doha Exhibition and Convention Center (DECC). In cooperation with DECC, and based on recommendations from Qatar Tourism Authority (QTA), the AQ team of

experts developed an electronic stands accessibility audit system. The system makes it easy to conduct accessibility audits for the large number of stands available in each exhibition.

“QTA is working to enhance the tourism sector’s role in achieving future economic and social development for Qatar,” said Ahmed Al Obaidli, Director of Exhibitions at QTA. “Our plans target broad sectors of visitors and residents including the disabled community, which we hope will find Qatar an accessible destination.”

A safe touch water device, a landmine detector, and a solar-powered parking solution for drivers with disabilities. These were the winning ideas honoured by the British Council and HSBC Bank Middle East at the culmination of their annual Taqaddam life skills programme at La Cigale Hotel, Doha.Helping to develop resilient youth who can thrive in a rapidly changing work environment, Taqaddam challenges participants to apply their newly-acquired soft skills to present a solution for a global or social problem. This year’s programme attracted participation from 290 students representing 13 schools, with a near equal gender split. Divided into teams, the students presented a total of 12 big ideas for judging.

‘Safe Touch Water’ from Ahmed Bin Hanbal Secondary School for Boys won the first prize. The revolutionary device aims to protect Qatar’s natural water resources by recycling household water through a safe filtration system.

As part of its commitment to the Holy Month of Ramadan, Marriott International celebrated the ninth annual ‘Iftar for Cabs’ initiative at participating Marriott hotels in the Middle East, including eight hotels in Qatar of Marriott Worldwide Business Council (QWMBC).Catering teams at each hotel prepared Iftar packs which included a diverse selection of food and beverage items. Associates from across various departments within the hotels, including Catering, Administration and Guest Services joined forces to bring the ‘Iftar for Cabs’ initiative to life. “We thank the cab drivers who support our hotels throughout the year. Iftar for Cabs embodies the spirit of Ramadan and we are extremely proud of our hotel teams as they unite to give back and recognise important members of our community,” said Guido De Wilde, Chief Operating Officer, Middle East, Marriott International.

SASOL EXPANDS ACCESSIBILITY TO EXHIBITIONS

TAQADDAM RECOGNISES STUDENTS’ INNOVATIVE IDEAS

Through its leading community initiative Accessible Qatar (AQ), Sasol, the international integrated chemicals and energy company, has issued accessibility guidelines to improve access for people with disabilities to exhibition stands, and developed a system to conduct accessibility audits for these stands.

MARRIOTT INTERNATIONAL’S IFTAR FOR CAB DRIVERS


LAST WORD

LIFE IN QATARMany developments have taken place over the last two years in Qatar. Now you see many new malls that have sprung up – Mall of Qatar, Doha Festival City and Al Hazm. The variety of restaurants is also increasing and Katara Cultural Village, Souq Waqif and Qatar National Library are the main attractions for weekend activities.

Entertainment World Village opened recently, while Baladna Park is another family attraction for weekends. I am really looking forward to visiting it soon and my kids are eagerly waiting for Kidzania to open as well.

On the other hand, we as a community have a lot of social activities to attend; having been here for many years, we have a huge social circle associated with us. ................................................................................

PAKISTANI COMMUNITY IN QATARThe presence of the Pakistani community is playing an evident and positive part in the development of Qatar. For the past few years we have seen an exceptional number of Pakistani professionals relocating to Qatar, serving in the fields of petroleum, banking, education, medicine, IT, engineering, and social work.

Additionally, the Pakistani community is also very active socially with many of its professional forums like Pakistan Professional Forum Qatar, Pakistan Women’s Association and Pakistan Engineers Forum, which are keeping the community engaged by regularly hosting various events.

For instance, recently we got to witness Katara screening a Pakistani movie for the very first time in Qatar. I was honoured to be part of such an event, and was amazed to see the turnout of Pakistanis for it.................................................................................

BEFORE AND AFTER THE BLOCKADEFor us, being expats, nothing has changed due to the blockade. I remember, during last Ramadan, when the news of the blockade first came out, people panicked. Negative thoughts and insecurities were aroused in many of us, which was very natural for expats. It is truly remarkable how the Qatar government has overcome the domestic challenges and served its residents efficiently by producing its own brands and products. It gives me great pride to see that within a few months the market is full of local products. I believe Qatar has become even more powerful and independent after the blockade. As expats we are really

thankful to the nation for so many reasons and wish it the very best for the future................................................................................

FREEDOM IN QATARAn immediate example is myself; being a female expat I have achieved so much in the country. My personal view of freedom is being able to follow one’s religion without any restriction, your customs and rituals being respected, your kids being safe, and you being given your own privacy and space. Being a Muslim state, Qatar has definitely provided us with all these values for life.................................................................................

FIFA 2022 WORLD CUPI am really looking forward to it and so are my kids. The FIFA World Cup is one of the most spectacular sporting events in the world and it will definitely create a lot of opportunities for people from all corners of the world. It will be a dream come true for all of us, and will be a historic moment in the history of the Middle East. It will be something that our next generation will be proud of. I suggest that we as residents here involve ourselves positively in this in some way – as professionals as well as volunteers. I’m confident that Qatar will do a great job as hosts of the event

QATAR TODAY CHECKS OUT INDIVIDUALS WHO HAVE SPENT A SIGNIFICANT AMOUNT OF TIME IN THE COUNTRY.

ZUNIRA MALIKIN QATAR FOR ALMOST 30 YEARSHOME COUNTRY: PAKISTANBUSINESS: FOUNDER, WHATS UP DOHA

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