YOUNG EXECUTIVES TO WATCH OUT FOR

Al Khamis Plaza, Qurum Commercial Area, Muscat • Tel: +968 24 560945E-mail: oma.kp@mouawad.com

Website: www.mouawad.com

2 June 2011

Mayank Singh

EDITORIAL

Editor-in-ChiefHH Sayyid Tarik Bin Shabib

Group EditorMayank Singh

Assistant EditorVisvas Paul D Karra

Sub EditorMuhammed Nafie

DESIGN

Senior Art DirectorSandesh S. Rangnekar

Senior DesignerM. Balagopalan

Senior PhotographerRajesh Burman

PhotographerMotasim Abdulla Al Balushi

Cover conceptChanjeet Singh

Production ManagerGovindaraj Ramesh

MARKETING

Business HeadJacob George

Senior Advertising ManagerAvi Titus

Advertising ManagerArif Abdul Bari

CORPORATE

Chief ExecutiveSandeep Sehgal

Executive Vice PresidentAlpana Roy

Vice PresidentRavi Raman

Senior Business Support ExecutiveRadha Kumar

Business Support ExecutiveZuwaina Said Al-Rashdi

DistributionUnited Media Services LLC

OER Presentations

LIVING

– Guide to AC and Refrigeration– Property and Interior

Published byUnited Press & Publishing LLCPO Box 3305, Ruwi, Postal Code - 112Muscat, Sultanate of OmanTel: (968) 24700896, Fax: (968) 24707939Email: publish@umsoman.comWebsite: www.umsoman.com

All rights reserved. No part of this publication may be reproduced without the written permission of the publisher. The publisher does not accept responsibility for any loss occasioned to any person or organisation acting or refraining as a result of material in this publication. OER accepts no responsibility for advertising content.

Copyright © 2011 United Press & Publishing LLCPrinted by Oman Printers

Correspondence should be sent to:Oman Economic ReviewUnited Media ServicesPO Box 3305, Ruwi 112, Sultanate of OmanFax: (968)24707939Email: editor@oeronline.comWebsite: www.oeronline.com

No 131 June 2011 LIVING A GREEN LIFET

he 9.0 magnitude earthquake that hit Japan on March 11 brought us face

to face with the destruction that nature’s fury can wreak. Coastal towns,

cars and buildings were swept away like toys by marauding waves. The

powerful quake shifted the earth on its axis and shortened the length of

a day by 1.8 millionth of a second. Once the water receded, the economic

toll of the tsunami became clear. The Toyota Stock Exchange lost $700bn in three days.

Sony suspended production at seven plants; Toyota slipped from being the largest

manufacturer of cars worldwide and supply lines are still uncertain. The nuclear leak

at the Fukushima Daiichi plant, put a question mark on nuclear energy as a source

of power. Switzerland announced a freeze on new nuclear plants, Germany shut

facilities built before 1980 and people in India took to the streets to protest against

nuclear plants. It’s been close to three months since the tragedy and the havoc caused

by it is still fresh. The tsunami has brought the environment issue centrestage yet

again.

Oman Green Awards 2010 was born out of a conviction that saving the environment

is no longer a matter of choice but a necessity. The overwhelming response to the

initiative from Oman’s corporate sector reinforced our belief that we were on the

right path. Oman Green Awards 2011 takes forward the promise of a green Oman. To

reinforce our commitment on green living, we have printed OER’s June issue entirely

on recycled paper. Hopefully, this should save a few trees from being felled.

To raise the intellectual bar on environment issues, we decided the look beyond the

obvious issues. The result is OER’s cover story which takes an in-depth look at two

issues that merit immediate attention in the Sultanate – wastewater management and

solid waste management. I am sure you are going to hear a lot about these topics in the

months to come. The other big story in this issue, Young executives to watch out for,

showcases the success, dreams and aspirations of Omani youth. Let me repeat myself

– these are stars whom you are going to hear a lot about in the coming years.

To read, click on link at: www.oeronline.comOER -magazine

4 June 2011

Write to us with yourcomments/feedback at: editor@oeronline.com

STRENGTHENING PILLARS OF THE NATIONThe government’s decision to allocate RO1bn in the budget for the welfare measures announced by His Majesty Sultan Qaboos Bin Said in his Royal Directives reflects His Majesty’s keenness to improve the standard of living of citizens, speed up social development, and improve skills of Omani workforce to build the national economy. There is no doubt that the additional spending will provide a big boost to the economy as business activities will grow, resulting in more and more job opportunities for the youth.

The Royal Directives of His Majesty Sultan Qaboos Bin Said to provide 50,000 jobs to Omanis has prompted a number of organisations in the public and private sectors to recruit nationals. The many Royal Directives issued by His Majesty the Sultan in March and April ordering a number of reforms have given a big boost to the task of nation-building. And this will go a long way in

strengthening the pillars of the nation. The end result will be huge gains for the Sultanate, which has been striving hard to achieve the goal of self-reliance in many areas. Madhu Shekhar , Azaiba

SET FOR A TAKE-OFF OER’s May edition had two articles on Qatar, though, the overall perspective from the articles about the nation was different in both cases. Qatar is being written and discussed a lot these days and rightly so.

No doubt the country has been placed with abundant natural gas, however, what has been heartening to note is the fact that the country has been utlising this resource judiciously. Qatar has already placed a moratorium on all natural gas developments at the gigantic North Field. The large projects expected to commence in the next few years, is sure to lead to unprecedented growth of the nation. With a small population and abundant natural gas resources, the

per capita income of the country in the coming years is bound to leapfrog that of Luxembourg.

Nurbina Mohammed, Al Khuwair

A WELCOME RELIEFThe speculation being witnessed in most of the commodities including crude oil, gold, silver and other metals finally seems to have abated. Sharp rises as witnessed in the last few months can never be sustained and invariably lead to a sharper correction. Though commodity as a theme has given better returns than some of the stock markets globally, a further correction in commodities cannot be ruled out. The pertinent questions to ask oneself now would be: Is the bubble reached? Or is it just a correction before the next leg up? Difficult to predict, but I would be inclined to believe the first. Anil Jose, CBD

In the OER Top 20 article (Cover story, May 2011), there was a mistake in the numbers used for Salalah Port Services Company. Given below are the correct numbers and the published numbers. The overall rank of the company remains unchanged in the OER Top 20 ranking.

ERRATA – Changes to Salalah Port Services Company numbers

Heading Correct Published

Profit 2010 5760 3297

Profit 2009 4535 5773

Profit Growth% 27.01% -42.89%

Profit Growth Rank 9 20

Profit as % of Revenue 10.93% 6.26%

Profit as % of Revenue Rank 9 11

Profit as % of Assets 4.52% 2.58%

Profit as % of Assets Rank 11 13

Profit as a % of Equity 14.94% 8.55%

Profit as a % of Equity Rank 12 17

CORRIGENDUM – BANKMUSCAT In the OER Top 20 article (Cover story, May 2011) write-up, HE Abdul Malik al Khalili was erroneously referred to as the Chairman of BankMuscat. Sheikh Khalid bin Mustahail al Mashani is the Chairman of BankMuscat (see page 18).

The errors are regretted. – Editor

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6 June 2011

BEYOND BOARDROOMS

Acquire mastery in your field

A focus on developing talent have enabled Dr Muthanna to achieve path-breaking success

79

INSIDE

32

49

People Planet Profit

Young executives to watch out for

C O V E R S T O R Y

H R S P E C I A LMEDIA

The perfect alchemyMerge 104.8 FM is looking at redefining

listening habits and growing the radio market in the Sultanate

46

GOLF UPDATEAn irreparable loss

The demise of Seve Ballesteros has created a void that is unlikely to be

filled anytime soon

24

8 June 2011

CLOSE UPGCC economic integration: A long way to goIn the 13th GCC consultative summit GCC officials feel embarrassed about the lack of progress on integration

68

Editorial 2

Economy Watch 10

Business Briefs 12

Executive Movements 18

In the news 20

Environment 44

70AUTO TALKPorsche pleasure

PERISCOPEInvesting in bank sharesInvestors can well accumulate shares of global banks at modest valuations

28

INSIDE

30INFORMATION TECHNOLOGYShared visionThe Gartner Enterprise Architecture Summit 2011 demonstrated the value of Enterprise Architecture

26BY INVITATIONA tenuous correlationCan oil’s clout continue to protect Oman’s stock market from regional and local unrest?

Real Estate 48

Auto News 72

Billboard 74

Market Watch 76

Gizmos 77

Browsing Corner 78

CARTOON CORNERBy Kannan Murali

10 June 2011

ECONOMYWATCH

NUMBERSSultanate’s education development indicators

Sources: Ernst & Young

Schools Expenditure

1970 1980 1990 2000 2009

1.3 37.9135.5

330.7

948.41000900800700600500400300200100

0

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3

9531040

1200

1000

800

600

400

200

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Num

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Teachers Students

600

0.9 065

29.9

94.9

190 166

356

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450

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12 June 2011

Ross Cormack, CEO, Nawras, has been named Outstanding Leader of the

COUNTRY CLUB PROMOSA series of promotions by The Country Club, India’s biggest chain of family clubs, in Qurum City Centre attracted thousands of people interested to sign up as members. Member service executives, armed with elaborate information of the various offerings from The Country Club, methodically took each prospect through all the details, from the location of the 225 resorts all over India, and in Sri Lanka and Dubai. Country Club’s entertainment shows were another highlight of the briefings to prospects.

THE WAVE SUPPORTS MIRSKY RACINGTorvar Mirsky and his Mirsky Racing Team have been handed a massive boost in their quest to land their first World Match Racing Tour title with the announcement that The Wave, Muscat is backing their 2011 campaign. This is the second major international sailing partnership by the Sultanate’s leading lifestyle development, which also supports one of Oman Sail’s two Extreme 40s in the Extreme Sailing Series.

JUMBO ELECTRONICS EARNS SONY HONOURSJumbo Electronics, Oman walked away with some prestigious crystal ware when it was awarded the “Excellent Performance – FY 2010” award by Sony Gulf FZE at their annual Business Partners Meeting in March 2011. The award recognises Sony’s business partners who have shown outstanding growth in sales as well as excellence in related support services. “We are proud of this recognition from Sony Gulf,” says Sachin Malhotra, country head, Jumbo Electronics, Oman.

HSBC renews partnership with ESOFor the second consecutive year, HSBC Oman has renewed its partnership with the Environment Society of Oman (ESO) for the implementation of a four-year innovative scientific research

project on frankincense headed by researcher and ESO Board Member, Dr Mohsin Al-Aamery. With preliminary findings indicating that the manner in which trees are tapped to harvest

frankincense can lead to degeneration beyond repair, the study aims to determine the right frequency of cutting to retrieve a good yield without harming the trees. It will also address the potential impacts of climate change on the growth pattern of Frankincense trees. Concrete findings and recommendations to ensure the sustainability of frankincense farming, a primary source of Dhofar’s livelihood, will then be disseminated to farmers, relevant government authorities and the local community for implementation.

Jotun Oman celebrates 25th AnniversaryJotun Paints celebrated its 25th anniversary in Oman on April 27 , 2011. Jotun Paints was founded in Norway in 1926. As one of the leading paint companies in the world, the Jotun group has a strong position in the Middle East

market. The Sultanate offered investment and development possibilities in the 70s and 80s and based on this it was decided to establish Jotun in Oman in 1985.The anniversary ceremony was held at Al Bustan Palace Hotel in the

presence of the chairman of the company, board of directors, general manager, customers, distributors and a large number of guests. The ceremony was opened by a welcome speech from the chairman Anwar Ali Sultan.

Ross Cormack named Outstanding LeaderYear at the third TMT Finance & Investment Awards Middle East, held in Dubai. This accolade for follows a year in which Nawras became a public company after the largest IPO in the Sultanate of Oman since 2005 and also began offering broadband services to corporate and residential customers. “It is a great honour for me to represent Nawras at this prestigious regional event and I am even more thrilled that as an Omani company, Nawras has won this award

and been shortlisted in two other categories,” says Cormack after receiving his trophy. He adds, “I would like to extend my sincere thanks to the entire Nawras family and I share this award with every member of our team. Together we promised to enrich the lives of people in Oman through better communication services and it is my privilege to work with so many dedicated professionals who continue to share this strong commitment to our customers.”

14 June 2011

MUSCAT EYE LASER WINS ISO Muscat Eye Laser Center (MELC) has been conferred with an ISO 9001:2008 certification. MELC was bestowed with an ISO 9001:2000 certification three years ago. The latest certification attests to the Center’s stringent adherence to a quality management system that ensures the delivery of consistently superior eye-care services to the exacting standards demanded of ISO certified institutions.

ZUBAIR CORPORATION AT MECIT CAREER FAIRThe Zubair Corporation had a reception counter at the Middle East College of Information Technology’s (MECIT) recent 2011 Career Fair in furtherance of its continuing commitment to provide 1,300 jobs to Omanis, as part of its contribution to the 50,000 additional jobs announced by His Majesty.

OMAN AIR’S CONNECTS SALALAH-DUBAIOman Air has restarted its services between Salalah and Dubai. Salalah flights will operate twice weekly on Wednesdays and Saturdays. To celebrate the resumption of the flights between Salalah and Dubai, a ceremony was organised at Salalah Airport.

PARK INN EMPLOYEES AWARDEDPark Inn Hotel has instituted two annual employee awards – ‘Host of the Year - Front of the House’ and ‘Host of the Year - Heart of the House’ - for its customer-facing and behind-the-scenes staff respectively. For the year 2010, the two proud recipients of these awards are Omar al Amri and Vikesh Nayak.

Starcare Hospital inauguratedStarcare Hospital, managed by Starcare Health Systems, UK was inaugurated near Muscat City Centre in Seeb, under the auspices of HE Muhammed bin Salim bin Saeed Al Toobi, Minister of Environment and Climate Affairs. The Minister expressed his appreciation

and happiness in the rapid progress witnessed within the private healthcare sector in recent times and commented that hospitals such Starcare will provide an alternative to Omani patients from seeking treatment abroad. Starcare is the only private hospital in Seeb, with a capacity of

50 beds and three modern operating rooms, offering advanced medical services in over 35 specialties with one of the most advanced Private Emergency Department in the country. The inaugural function was also attended by ambassadors, dignitaries and the national basketball team.

BankMuscat launches simple investment planBankMuscat has launched an investment campaign targeted at raising awareness and inculcating prudent savings habit. The new Simple Investment Plan (SIP) heralds an affordable and systematic investment option offering lucrative returns to investors. The underlying theme of the campaign is, “Everything meaningful starts small. So do investments.” Ali Said Ali, AGM – Asset Management and Private Banking, says, “Over the years, BankMuscat has made the dreams of numerous customers come true and transformed their lives for good. The life-changing experience by the

bank takes another dimension with SIP. The new investment plan encourages everyone to invest into BankMuscat mutual funds, starting with an amount as low as RO50 a month.” The main features of

the SIP include easy liquidity, with daily subscription and redemption wherein units can be converted into cash the moment one needs it, as well as being within everyone’s means.

Al Khonji Real Estate is AqarAl Khonji Real Estate & Development has announced the creation of a new name and identity for its business. The company will now be known as Aqar – which is the Arabic word for real estate – and under the new identity the company will shortly announce plans for a major residential and commercial project in the heart of Muscat. Aqar will operate as a new

and specialised real estate developer. The team behind the new company has years of experience in property development, architecture and the implementation of other projects in the Muscat area and will be led by Al Khonji Real Estate & Development’s chairman Mohamed Al Khonji. He will take on the joint role of chairman and CEO of Aqar. Mohamed and his brother

Qaboos Al Khonji set up their business together 20 years ago in 1991.

16 June 2011

REEM BATTERIES EDUCATES DEALERS World over battery manufacturers are shifting towards sealed maintenance free batteries, and indigenous battery manufacturer in Oman Reem Batteries & Power Appliances is no exception. At recently held channel partner meets across Oman, officials of Reem Batteries stressed upon this very point. The meets were held in Muscat, Seeb, Barka, Sohar,Nizwa and Ibri. The meets were also used as a launch pad for some exciting offers on Antara Gold batteries.

ONICH OFFERS JOB OPPORTUNITIESOman National Investment Corporation Holding (ONICH) participated recently in the Omanisation and Job Opportunities Exhibition (JOBEX 2011). The exhibition was held from April 19- 21 at the Oman International Exhibition Centre. During JOBEX jobseekers and parents had the opportunity to interact with representatives from ONICH, and were informed on the available vacancies in the company.

AXA RECORDS PROFIT GROWTHAXA recorded a profit of $46mn in the gulf for 2010. This marked a 14.5 per cent increase over the preceding year. AXA has maintained its resilience and implemented strategic and operational initiatives in 2010 to improve its position for the future. Jérôme Droesch, CEO AXA, Gulf Region says, “Thanks to our well diversified geographical presence in the GCC, the engagement of our staff and the trust of our clients, we have been able to weather this turbulent time with solid results.”

Al Hassan and Siemens extend agreementAl Hassan Power Industries (AHPI), a part of Al Hassan Group recently signed an OEM agreement with Siemens, Oman for manufacturing medium voltage switchgear in Oman. Al Hassan is leading in switchgear business with a large market share. A good part of its production is exported to GCC countries. AHPI started manufacturing medium voltage switchgear with technical know-how from Siemens in 2001. The new agreement was signed

The Wave gives 15 hospitality scholarshipsThe Wave, Muscat has announced the expansion of its role in the 40/40 Scholarship Fund by increasing the number of hospitality student scholarships from four to 15. The pioneering

educational initiative comes in partnership with the British Scholarships for Oman (BSO) and the National Hospitality Institute (NHI). The scholarships consist of an 18-month diploma in Hospitality Management

at NHI complemented by a six-month internship at a property of Kempinski Hotels or with Dubai Golf, the official operator of the 18-hole PGA Links Golf Course designed by the legendary Greg Norman.

Al Maha Ceramics eyes expansionSohar-based ceramic tiles producer, Al Maha Ceramics plans to expand its capacity and product range to strengthen its position in the market in the second half of 2011. “The company will be launching tiles in the new size

of 50x50 and 25x40 from July 2011 onwards”, says CEO, Arvind Bindra. “The designs for these tiles have been selected from the leading design studios in Italy and Spain. Our tiles are similar to the Spanish and Italian

tiles in terms of quality but available at a much lower cost to consumers in Gulf Co-operation Council. ” Bindra adds that the company is optimistic about attaining 15 to 20 per cent growth each year for the next three years.

by Talal Al Assaad, CEO-Manufacturing & Trading, Al Hassan Group and Markus Strohmeier, CEO, Siemens, Oman in the presence of

Dr. Wolfgang Heuring, CEO, Siemens MV, Germany and Matthias Becker, Head of Siemens, Medium Voltage – Lower Gulf.

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OMAN PERMITS ISLAMIC BANKING The government of Oman approved the establishment of Islamic banking, permitting lenders to run Shariah compliant operations. The Oman cabinet announced the decision to permit opening of an Islamic bank and Islamic windows at local banks. According to Oman News Agency, “His Majesty approved the establishment of an Islamic Bank and allowing the banks in the Sultanate to open new branches if they wish.” However, conventional banks in the state of Oman will not be allowed to convert to Islamic banks. Oman opened up its markets to tap the demand for Shariah compliant Islamic products and services which is currently being met in the other Gulf states. According to a PricewaterhouseCoopers study Islamic finance is expected to touch $2trn by 2012. Audit firm Ernst&Young estimates peg the industry’s growth at 20 per cent per annumn.

OMASCO SUPPORTS ESO MARINE RESEARCH With rapid urban development taking place in Oman, the Environment Society of Oman (ESO) is working to preserve and protect the rich biodiversity of the Sultanate including the marine and terrestrial wildlife. In support of its marine research on sea turtles and cetaceans, ESO received contributions from OMASCO including three top-of-the-line Panasonic cameras, a generous discount on two Honda Marine 4-stroke outboard engines and a cash donation. The in-kind donations will be used during the ESO Marine team’s field work in two marine projects.

Welcare renamed Lifeline Medical Centre

After successfully inaugurating its maiden facility at Salalah, the Abu Dhabi-based Lifeline Hospital Group has expanded its footprint to Muscat, by taking over the management of the First Medical Centre and re branding it as Lifeline Medical Centre (the erstwhile WELCARE DTC Oman). The Lifeline Medical Centre will

have top-of-the-line outpatient facilities. In addition to existing specialists the management has appointed experienced full-time cardiologist, ent, neurologist, ophthalmologist, orthopaedics, implantologist (dental department), radiologist etc. Lifeline Hospital Abu Dhabi has been awarded the prestigious

Sheikh Khalifa Excellence Award and the International Patient Safety Award during the Arab Health 2010. It has obtained an accreditation from Joint Commission International and holds a certificate from the Australian Council on Healthcare Standards International for adherence to international regulations.

Al Ajwakh Trading receives excellence awardAl Ajwakh Trading welcomed John Sockman, vice president of Weiler Cooperation USA to Oman recently. Sockman was in Oman to honour Fazil Kutty, managing director, Al Ajwakh Trading with the Best Sales Excellence Award (GCC) for the year 2010. Weiler Corporation is one of the world’s largest producers of welding brushes and abrasives for welding cleaning process. The company is constantly focused on improving the efficiency of welding cleaning process. Weiler’s Middle East business development manager, Raz Ghazikhanian, says that Al Ajwakh trading could maintain this award in coming years due to upcoming projects in Oman.

Al Ajwakh Trading is a well established organisation that has been serving the market for over a decade. Al Ajwakh Trading has come a long way

and has emerged as a fast growing organisation, driven by quality products, on time supply and excellent customer approach.

18 June 2011

Sheikh Khalid bin Mustahail al Mashani, who served as deputy chairman of BankMuscat for the past 12 years, has been appointed Chairman of BankMuscat. Shaikh Khalid possesses astute leadership skills in financial management and strategic planning. He was deputy chairman of the bank since March 1999 and is currently the chairman of the bank’s risk committee. Among the varied roles, he is the deputy chairman of BankMuscat International, Bahrain.

Sheikh Khalid holds a BSc. in Economics from Buckingham University in the UK and a Masters Degree in International Boundary Studies from the School of Oriental and African Studies (SOAS), the University of London, UK. He has also attended various executive training development programmes, conferences and seminars in the areas of banking, finance, investment, economics and managements fields, including ‘Strategic Finance’ and ‘High Performance Leadership’, Institute of Management Development (IMD), Lausanne, Switzerland. Sheikh

Khalid’s financial and management skills are reflected in the top positions held by him in leading companies. He serves as Director and Chairman of several leading companies in Oman, and has contributed to the success and progress of these companies. He also possesses strong relationships with leading businessmen and officials in the country, and is well-known for his efforts in the field of human resource motivation. Commenting on the new appointment, Sheikh Khalid says, “I am honoured to be appointed as chairman of BankMuscat, the leading banking institution in Oman. My priority is to fulfill the trust and confidence reposed in me by the board of directors, shareholders and all stakeholders to sustain and strengthen the leadership position of the Bank.”

Gulf Air, the national carrier of the Kingdom of Bahrain, has appointed Karim Makhlouf as chief commercial officer. Makhlouf joined Gulf Air in October 2010 as director commercial planning and was leading one of the airline’s business-critical departments ensuring the company’s business strategies are delivered. Makhlouf brings with him significant and relevant experience of over 14 years in key commercial and strategic planning areas of the airline business, along with a good operational understanding. He started his career with Lufthansa working in the company’s key divisions such as pricing, network planning and management and project management and moving on to become the senior vice president of German Wings a subsidiary of Lufthansa. Later, he moved to SkyEurope airlines as its chief commercial officer and since 2008 he was the chief commercial officer and deputy CEO of Malev Hungarian Airlines before joining Gulf Air.

African + Eastern has appointed Rob Chinman as the ‘on trade manager’ for Oman.

Having served in the UK beverage industry, Chinman moved to African + Eastern in February 2010 as Key Account Manager, looking after key five star hotels in the Emirates. In his new role as On Trade Manager in Oman, Chinman will play a central role in supporting the current structure, and in driving business growth at African + Eastern, through the development of sales programmes and initiatives. Chinman holds a BA Honours degree in Business Administration and an intermediate WSET certification.

The Fund for Development of Youth Projects, also known as Sharakah, has appointed Abdullah Al Jufaili as the new General

Manager. During his college years at Florida Atlantic University, Al Jufaili worked as a valet, surveyor, registration’s office clerk,

freelancer web developer and network analyst. He started his professional career as an information technology specialist at the

Public Authority for Investment Promotion and Export Development. Later, he joined Knowledge Oasis Muscat to assist in setting

up the first business incubator programme, The Knowledge Mine. During that time he completed his MSc. From Salford University, UK in Managing Information Technology. In 2007, he joined Shell Development Oman as Intilaaqah Director through which he has facilitated training and business

development services to more than 4,000 nationals. He also acted

as a member in various public committees. As a cofounder/writer in Ruwad magazine, the

first magazine dedicated to support Small and Medium Enterprises (SMEs) in Oman, Jufaili brings a wealth of experience to

Sharakah in developing SMEs.

shareholders and all st

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website: www.gutech.edu.omemail: admission@gutech.edu.omphone: +968 2461 6666 +968 98667766 +968 98445464

P.O.Box 1816 PC 130Sultan Qaboos Highway, AthaibahMuscat, Sultanate of Oman

Bachelor of Science Applied GeosciencesUrban Planning and Architectural DesignApplied Information TechnologySustainable Tourism and Regional Development

Bachelor of Engineering Mechanical EngineeringProcess Engineering

Masters of Science Petroleum GeoscienceIntegrated Urban Planning

Programmes

20 June 2011

IN THE NEWS

The Middle East is slated to become a world-class producer and distributor of iron ore pellets with the start of phase one of operations in Vale’s

$1.356bn pelletising plant and distribution centre in Oman. Located in the coastal city of Sohar, the Industrial Complex will serve as a hub catering to the growing demand of iron ore products in the Middle East, North Africa and India (MENAI).

Vale’s Industrial Complex comprises a two-unit pelletising plant, each with a nominal capacity of 4.5mn metric tonnes of direct reduction pellets per year, in addition to a distribution centre with an annual capacity of 40mn metric tons. In May 2010, Vale entered into a strategic partnership with the Omani government through the sale of a 30 per cent stake in the pelletising company to Oman Oil Company.

“Sohar’s strategic location outside the Strait of Hormuz, with the advantage of deep water seas, and the heavy infrastructure investments to provide leading logistics networks, advanced energy and power supply technologies and world-class facilities at Sohar Industrial Port, were key to our decision to establish our operations in the Sultanate,” says Roger Agnelli, Vale CEO.

The visionary economic diversification plan adopted by the Omani government will enable the establishment of a competitive steel cluster that will be a vital component contributing to the reduction in the 30mn metric tonnes supply-demand gap of finished steel in the region. Vale’s project in Oman will create a just-in-time operations framework to serve customers better across MENAI. The company is committed to emerge as the largest investor in the mining industry

operating around the world with a simple yet dynamic premise that there can be no future without mining and there is no mining without caring about the future.

Vale’s history is marked by a capacity for transformation and has played an instrumental role in building a solid industrial platform by positively contributing to the development of the local economy. In line with this strategy, the company contracted Sohar Industrial Port Company to build a 1.5km jetty to be exclusively used and operated by Vale, which is scheduled to be operational in June 2011. Three ship-loaders and one ship-un-loader have already been delivered. A long-term agreement was also signed with Oman Shipping Company for the construction of four very large iron ore carriers (VLOCs) with a loading capacity of 400,000 tonnes to be dedicated to Vale.

Driven by its commitment to the sustainable development of the Sultanate, Vale places high priority on developing and retaining local qualified talents in the communities where it operates. To date, the company has invested $11.3mn in specialised recruitment and training programmes that aim to generate 720 direct and 1,800 indirect jobs.

Vale considers the environment as a fundamental component of its operations and seeks to balance environmental protection with economic development. In Oman, the company continually invests in managing environmental aspects and risks as well as research new technology to surpass the established standards of excellence in environmental control systems. A total of $40mn has been invested in green technology which includes an advanced 100 per cent water recycling system as well as a 3,150-mtr wind fence surrounding the industrial complex to control dust emissions. Vale is also innovating the technology used for the production of pellets, making its plant in Sohar the first to use ‘Grate Kiln’ furnace. This technology will provide consistent quality results and an end product with high compression, low abrasion and perfect roundness. Headquartered in Brazil, Vale operates in 38 countries on five continents.

A new beginningVale commences first phase of operations of $1.356bn industrial complex in Sohar

$40mn in green technology ¡

$11.3mn in training and ¡recruitment programmes

$317mn in contracts awarded to ¡local companies

VALE OMAN: INVESTMENT

22 June 2011

A ringside viewOman Power & Water Summit highlights developments taking place in the Sultanate’s utilities sector. An OER report

The first-ever Oman Power & Water Summit held between May 22-25, 2011 put the spotlight on ongoing and upcoming projects to keep

the Sultanate’s power and water supply in pace with growing demand as the country continues to experience rapid industrial and economic development.

The four-day event was held under the patronage of the Public Authority for Electricity and Water (PAEW) and was officially inaugurated by PAEW chairman HE Mohammed Abdullah Al-Mahrouqi. The formal opening ceremony was attended by ministry officials, diplomats, the top executives of companies, industry experts and over 250 delegates representing many leading players in the region’s power and water sector.

Organised by Global Exhibitions & Conferences (GEC) and IQPC Middle East, the Oman Power & Water Summit was officially supported by the Ministry of Regional Municipalities and Water Resources (MRMWR), Electricity Holding Company (EHC), Oman Power and Water

Procurement Company (OPWP), Rural Areas Electricity Company (RAECO) and the Authority for Electricity Regulation, Oman (AER).

“The Oman Power & Water Summit is truly a high-profile industry event with the strong presence of government authorities, public and private sector companies, industry professionals and other participants, all of whom play a major role in the continued development of the sultanate’s vibrant power and water sector,” said CJ Paul, CEO of GEC.

The event was supported by Siemens as the gold sponsor and ACWA Power International and Wartsila as the silver sponsors. GE was the event guide sponsor, while the associate sponsors included ABB Transmission and Distribution, DYK Incorporated, Future Pipe Industries, Greenergy, HBK Contracting, Khimji Rhamdas, and Solar Total. The summit also had the full backing of the Oman Society of Contractors, Oman Water Society, the London-based Chartered Institution of Building Services Engineers (CIBSE) and

the Society of Public Health Engineers (SoPHE).

The Oman Power & Water Summit featured technical presentations, panel discussions, case studies, roundtable sessions and interactive workshops. The event’s conference programme covered an extensive range of topics, including the potential of renewable energy technologies in Oman, the government’s future plans for the development of the country’s power and water sector, sustainable management of the sultanate’s water resources, strategies for improving power system capacity and efficiency, and the importance of private sector participation and investment in the industry.

“The speakers chosen to discuss these topics are renowned industry experts and highly influential personalities whose vision and future decisions will be the main driving factors in sustaining the industry continued growth,” said Rozenn Cornec, conference director at IQPC Middle East. “Delegates of the Oman Power & Water Summit got the opportunity to not only be updated on the latest developments in the industry but also got a full sense of the range of prospects in this highly important sector.”

On the sidelines of the conference there was an exhibition featuring the display of all the corporate sponsors and other major companies that are active in the power and water sector. The exhibitors included Al Dastoor Contracting & Trading, Douglas OHI , KSB Middle East, Larsen & Toubro Oman, Saint-Gobain PAM, Septech Muscat, Sogex Oman Co. , Towell Engineering and Target.

The Oman Power and Water Summit was supported by leading media companies, including the AEC Online, Alam al-Iktisaad Wal A’mal, BNC Network, Mbendi Information Services, Middle East Tenders, OER Dossier, Oman Economic Review, Oman Projects, Oxford Business Group, Times of Oman, and Zawya.

OER, AIWA and Dossier were the media partners for the event.

IN THE NEWS

23June 2011

Creating awareness

Al Maha Financial Services wins award

Al Maha Financial Services Company, a licensed brokerage house in the Muscat Securities Market, has received the ‘Excellence Award’ (for its research reports promotion and

website content) at a function held on May 7 organised by the Muscat Securities Market.

The awards ceremony was held under the auspices of HE Shiekh Saad al Saadi, the minister of Commerce and Industry and chairman of the Capital Market Authority, and was attended by the president of Arab Bourses, HE Yahya Al Jabri, executive president, Capital Market Authority (CMA), dignitaries, staff from the Muscat Securities Market (MSM), brokerage companies and the general public.

Al Maha Financial Services is a licensed Omani Limited Liability Company operating in the MSM under the authority of the CMA. It is fully licensed to offer brokerage services, portfolio management, research and advisory, marketing of international securities / products, corporate finance and advisory.

For GUtech, sustainability is an important issue and plays a ma-jor role in all its programmes. Sustainable development is de-

velopment that meets the economic, social and environmental needs of the present without compromising the ability of future generations to meet their own needs.

After the success of last year’s Muscat Green Days Conference – “Education for a Sustainably Built Environment” a second conference on sustainable urban planning and sustainable tourism issues will be held end of November this year at the Grand Hyatt Muscat. GUtech university is keen on creating awareness and promoting sustainable architecture and urban planning as well as sustainable tourism in Oman - for the benefit of the economy of the region, the environment and our future generations.

The two-day conference will be organised by GUtech and Sesam Consulting. Moreover, the university is an academic partner of the conference. The chair for the conference is taken by Dr Dieter Fuchs,

general manager of the German Research Institute Fraunhofer in the Middle East and President of the World Association of Applied Research, WAITRO.

During this year’s Muscat Green Days Conference a number of GUtech projects, such as social housing projects, research on sustainable urban planning patterns and the GUtech green campus in Halban will be presented.

The GUtech campus in Halban will be one of the first Green building campuses in the Sultante. When the master plan was developed, sustainability guidelines were worked out which provide the basis for the design of single buildings. For example, one detail is the green courtyards which are located in front of all seminar and classrooms to create a comfortable micro climate. Another aspect is the orientation of the buildings considering the local climatic conditions such as solar radiation, wind direction and others. Other green elements are economising of natural resources, reuse of water and using solar energy.

24 June 2011

golf in 2007 because of continued poor form, and in 2008 was diagnosed with a malignant brain tumour. After reports that Ballesteros would make a return to the spotlight at the 2010 Open Championship, following the advice of doctors he did not travel to St Andrews in 2010 for the Open Championship.

Ballesteros was awarded the Lifetime Achievement Award for the second time at the BBC Sports Personality Awards 2009. He was presented with the award at his home in Spain by his friend, compatriot and former Ryder Cup team-mate José María Olazábal. Ballesteros died of brain cancer on May 7, 2011, aged 54.

GOLFUPDATE

Severiano ‘Seve’ Ballesteros Sota was a Spanish professional golfer, a World No. 1 who was one

of the sport’s leading figures from the mid-1970s to the mid-1990s. Ballesteros was a five-time major champion whose incomparable imagination and fiery personality made him one of the most significant figures in modern golf.

He gained attention in the golfing world in 1976, when at the age of 19 he finished second at The Open Championship (British Open). A member of a gifted golfing family, Ballesteros won five major championships between 1979 and 1988, the Open Championship three times, and the Masters Tournament twice. He was also successful in the Ryder Cup, helping the European team to five wins both as a player and captain, and won the World Match Play Championship a record-tying five times. He is best known for his great short game, and his erratic driving of the golf ball. He is generally regarded as the greatest Spanish golfer of all time.

Because of back-related injuries, Ballesteros struggled with form during the 1990s. In spite of this, he continued to be involved in the game of golf, creating the Seve Trophy and running a golf course design business. Ballesteros eventually retired from competitive

AN IRREPARABLE LOSSTributes

“He was the greatest show on earth.” – Nick Faldo

“Seve was one of the most talented and excited golfers to ever play the game.”

– Tiger Woods

“Today, golf lost a great champion and a great friend. We also lost a great entertainer and ambassador for our sport. No matter the golf that particular day, you always knew you were going to be entertained. Seve’s enthusiasm was just unmatched by anybody I think that ever played the game.”

– Jack Nicklaus

“He did for European golf what Tiger Woods did for worldwide golf.”

– Nick Price

“He was a man who got into trouble. Only for Seve, there was no such thing as trouble.”

– Gary Player

The demise of Spanish golfing great Seve Ballesteros has created

a void that is unlikely to be filled anytime soon

April 9, 1957 - May 7, 2011

26 June 2011

BY INVITATION

Can oil’s clout continue to protect Oman’s stock market from regional and local unrest?

A tenuous correlation

The recent geopolitical developments in the region and in Oman have had a

telling effect on the Muscat Securities Market (MSM). Between January and March the events in Tunisia, Egypt and Oman have resulted in major fluctuations in the stock market although unrest within Oman’s borders has had a greater and longer lasting effect.

The events in Tunisia which started in December 2010 and culminated in the ouster of the Tunisian President on January 14, 2011 resulted in a 33-point drop (0.47 per cent) in the MSM 30 Index. The market was quick to recover

going back to pre-unrest levels in just two trading days.

The events in Egypt which started on January 25 and resulted in the ouster of the Egyptian President on February 11 caused the Index to drop by 252 points (3.6 per cent). This time, the market was slow to recover as it took 14 trading days for the MSM 30 index to go back to pre-unrest levels and recover the losses.

The steeper decline and longer recovery time on this occasion was due to a number of reasons. First, Egypt is a much bigger trading partner with Oman than Tunisia. In 2009, non-oil trade with

Egypt totalled RO96mn as against RO3mn with Tunisia. Second, developments in Egypt got greater media coverage than those of Tunisia and by then similar unrests were beginning to sprout in other Arab countries causing cautious fear in regional markets. Third, Egypt is geographically closer to Oman than Tunisia. And fourth, it took a longer time for the Egyptian President to step down (MSM recovered completely two trading days after Hosni Mubarak stepped down).

The events in Oman which started peacefully in January but turned belligerent in February first affected MSM

Comparison of the performance of the MSM 30 Index with the OPEC oil basket price (Base=100 on 3 Jan 2007)

Ahmad Ayyub is an Executive and Faisal

Sultan is an Analyst with Ernst & Young in Oman. The views expressed in

this article are the authors’ and do not reflect the

views of Ernst & Young.

Source: Muscat Securities Market and OPEC

27June 2011

BY AHMAD AYYUB AND FAISAL SULTAN

THE LARGEST OUTFLOWS OCCURRED IN THE MONTH

OF FEBRUARY WHEN IT BECAME EVIDENT THAT THE

PROTESTS WOULD NOT BE SIMPLE ONE-OFF EVENTS

on February 15. The MSM 30 index continued to drop until February 28 losing 859 points (12.3 per cent) in this period. The sharpest daily declines in the MSM 30 occurred on February 27 and 28 (decline of 187 points and 316 points respectively), the days when tensions escalated. The market saw negligible recovery in the days following these events, reflecting a temporary loss of confidence by investors.

Events outside the borders of Oman did not have a significant long-term impact on the stock market. Investor fears that events in Tunisia and Egypt would have an economic impact on Oman were short-lived. However, when political unrest reached Oman and turned unexpectedly violent, the market dropped sharply with fears that the unrest would continue and that there would be a negative effect on the economy. The market has yet to recover to pre-protest levels.

Upon further examining the movement of funds in MSM, it is apparent that the unrest in Oman triggered an outflow of international investment in the stock market. MSM registered a net weekly outflow of international investments in stocks between the week ending on January 13 and the week

ending on March 31. The largest outflows occurred in the month of February when protests spread to a number of towns in the country and it became evident that the protests would not be simple one-off events. Net outflows of funds by international investors reached RO23mn in that month.

Oil price impactThe effect of the unrest in Oman has had some far reaching implications. As an oil-based economy, the performance of the stock market in Oman has been closely correlated to the price of oil. Between January 2007

and December 2010, the MSM 30 index and the OPEC basket price showed a 91 per cent correlation. Whenever the price of oil increased or decreased, the MSM 30 Index moved accordingly.

However, since the beginning of the unrest in the country, the MSM 30 Index has become negatively correlated to the OPEC basket price. The price of oil kept edging upwards while the MSM 30 index plummeted. This shows that no matter how much more revenue the government makes from oil exports, there cannot be economic stability without social stability.

Prior to the latest developments in Oman, the country was able to rely on oil revenues to protect its stock market and economy from the ramifications of external economic and political events.

The latest developments within the borders of Oman have changed this, at least in the short-to-medium term. The effect of social instability in Oman simply outweighs the benefits of higher government revenues from oil. It would be interesting to see if the MSM 30 index manages to regain its correlation to the price of oil in the near future.

28 June 2011

Investing in bank sharesInvestors can well accumulate shares of global banks at modest valuations

BY MATEIN KHALID

Bank shares have not exactly been winners on Wall Street in 2011. The Volcker Rule

limits on proprietary trading, Dodd Frank restrictions on derivatives, excessive liquidity on balance sheets, weak US loan demand, low margins, Uncle Sam’s aversion to dividend hikes and share buybacks, investor skepticism about the strategic future of Citigroup and Bank of America have all slammed the shares of money centre banks. Bank shares have been the worst performing sector of the S&P 500 in 2011 and highly correlated to bearishness about GDP growth, even though the US Treasury yield curve has been extremely weak. However, amid the doom and gloom, investors can well accumulate shares of global banks at modest valuations.

Take Citigroup (C), whose shares are 4.50, down from 5.50 last summer (pre-reverse stock split prices). The bank earned $10.8bn in 2010 after a $1.6bn loss in 2009, though trading and North American consumer bank revenues are still mediocre. Citi trades at eight times forward estimates of 0.56 and can well slash its $26bn loan loss provisions down to the 13-15bn dollar

range. If so, Citi shares offer 30 per cent upside to six dollars.

Goldman Sachs shares have fallen below 150 even as capital markets (M&A advisory IPO, debt and equity underwriting, Euromarkets) revenues have surged in 1Q 2011. Goldman has repurchased Berkshire Hathaway’s 10 per cent preferred dividend shares, a boost for future earnings power. The golden age of prop trading is over but Goldman can well earn $15 in 2011 and $17-18 in 2012. The Abacus CDO haunts Goldman Sachs in the SEC, Senate, media and the court of public opinion. I believe Wall Street’s top investment bank is a buy at 145 for a 180 target.

Apart from a mini-rally in February and March, I expect Indian bank shares to correct by 20 per cent in the next three months as the RBI is behind the inflation curve and at least three more rate hikes are inevitable. Loan growth, net interest rate margins, non performing loans and EPS metrics will all contain treacherous landmines in the next three months even as rising risk aversion will hit emerging markets as an asset class and dampen capital inflows into Dalal Street. The

slump in industrial production is bearish for corporate profits, retail sales and, consequently, bank loan spreads/NPL. The macro risk in Indian banking exceeds the current valuation metrics of Indian bank shares, particularly for public sector banks exposed to greater earnings risk.

Kiss of deathIn any case, rising inflation and higher interest rates are the kiss of death for banking NPLs, particularly since the RBI has withdrawn 70 per cent blanket provision coverage requirements. It would not surprise me to see Sensex at 17,000 by October. ICICI’s New York ADR is expensive at 48 and I expect India’s leading private bank to trade down to 40-42. This would equate to a 150-200 rupee hit on the shares in Mumbai. A strategy to generate 50 per cent returns if ICICI falls would be to buy the December ICICI put options (48 strike) at 46. If I am correct, this strategy offers a 50 per cent return on risk capital if the bank’s New York ADR falls to 42. Somewhere near 800 rupees, ICICI would once again be a compelling buy.

Egyptian banks trade at some of the lowest valuation metrics in MENA and the banking system is generally liquid with low

The author is a renowned investment

banker based in Dubai

exposure to foreign currency debt. The stock market has endured trauma, capital flight and a 40 day closure after the political crisis that began in Tahrir Square in January and culminated in the resignation of President Mubarak and the arrest warrant for former finance minister Youssef Boutros Ghali. I would avoid Egyptian banks even though the market multiple is only 10 times earnings since the risk of currency depreciation is now extremely high. I can easily envisage the Egyptian pound at 6.50 against the dollar by year end 2011 from the current 5.94 because GDP will contract as tourism, remittances and capital flows plummet, even though Sinai

LNG sales, cotton, Suez Canal shipping toll revenues are still intact.

Egypt’s central bank hard currency reserves are now down to only $30bn and it would need an IMF loan in the event of a speculative assault

on the pound or if foreign investors fail to rollover government issued Treasury bills. Bank shares would be gutted if new political and economic black swans unsettle the stock market. I would wait until the elections to re-enter Egyptian bank shares.

QNB, Qatar’s flagship commercial bank, will complete a jumbo QR12.7bn rights issue that will increase its tier one Basel capital ratio to an impressive 23 per cent. This means loan growth metrics can well rise by 20-24 per cent in the Middle East’s fastest growing economy. The rights issue will boost QNB’s EPS and return on equity (ROE) at a time when its economies of scale and demonstrated government support can well enable it to increase its marketshare. QNB is not expensive at 2.3 times book value and 12 times forward earnings. QNB offers 20 per cent upside if its valuation metrics are re-rated in Doha.

PERISCOPE

SNAPSHOTCitigroup earned $10.8bn in 2010 after a $1.6bn loss ¡in 2009

Goldman Sachs shares have fallen below 150 ¡

ICICI’s New York ADR is expensive at 48 and is ¡expected to trade down to 40-42

Egyptian pound against the dollar is expected go up to ¡6.50 by the end of 2011

30 June 2011

SHARED VISIONThe Gartner Enterprise Architecture Summit 2011 demonstrated the

value of Enterprise Architecture and showed how to broaden its influence both

inside and outside the enterprise. Mayank Singh reports exclusively from London

INFORMATIONTECHNOLOGY

The Gartner Enterprise Architecture Summit, held on May 9-10, 2011, in London discussed key issues facing the Enterprise Architecture

(EA) Industry. EA is a key strategic initiative, as the majority of practitioners have shifted their focus to their business’s strategic vision, not focusing on the IT organisation alone, according to Gartner, Inc. By 2016, 30 per cent of EA efforts will be supported as a collaboration between business and IT, up from nine per cent in early 2011.

“The discipline of EA has passed a tipping point where practitioners are moving beyond applying EA to IT alone, either in aspiration or in actions,” says Betsy Burton, vice president and distinguished analyst at Gartner.

As with many traditional IT practices, the discipline of EA has been gradually evolving for several years to become more closely integrated and aligned with business strategy. However, there are several trends, in particular, that have helped to spur this evolution, including:

An increased ability for business users ¡

to lead and make technology decisions, with or without ITA continued CIO view that IT ¡strategies must be closely related to the business’s strategic prioritiesIncreased management pressure on ¡EA to demonstrate business value, due to the economic downturnContinued growth and emergence of ¡several new practices and disciplines that are focused on enabling EA practitioners to better communicate and collaborate with business leaders.

“Enterprise architects need to assess their own aspirations, their senior management’s expectations for EA and the type of IT service management (ITSM) they are operating under to understand the opportunities and constraints on their ability to collaborate with business leaders,” says Philip Allega, research vice president at Gartner.

Given the current focus for EA, organisations will increasingly support their EA efforts with people reporting into different parts of the organisation (business and IT). Gartner analysts say that a virtual reporting structure is fine, as long as team members are all

working together, based on a shared vision and charter and are being measured based on this shared vision. It is important to have one person working as the chief architect – guiding, facilitating and leading the virtual team on a coordinated effort.

“If your organisation is still thinking about EA as an IT-only discipline or developing an IT-focused guidance, you are in the minority of your peers. If you are not actively seeking to engage with business leaders and focusing EA on your business strategy, you are in the minority of your peers,” adds Burton.

The Gartner Enterprise Architecture Summit brings together a large number of chief enterprise architects and it is the premiere community gathering for enterprise architects, strategists and planners. Designed to meet the needs of enterprise architects, strategists, planners and innovative specialists, this year’s summit helped EA leaders to solidify fundamentals, redefine parameters and ensured stakeholder support – important first steps towards managing the evolving EA discipline with clarity and confidence.

Gartner analysts speaking at the event

We are committed to reducing our carbon footprint, with our goal of 25 percent reductions in carbon related emissions by 2014.

PO Box 369, Salalah, PC 211, Sultanate of OmanTel: +968 23219500. Fax: +968 23219540. Email: info@salalahport.com

www.portofsalalah.com

COVERSTORY

32 June 2011

33June 2011

The rise of a strong industry capable of performing its national role in social progress and prosperity, while at the same time

maintaining the purity and cleanliness of the environment at the highest possible level will always be our strategic goal. We call upon all officials and others involved in industry to achieve this aim.”

An excerpt from the speech of His Majesty Sultan Qaboos bin Said on the occasion of the 21st National Day (18.11.1991).

Most of the pro-environment initiatives in the country stem from this precise directive of His Majesty The Sultan who is a staunch votary of preserving the environment. Oman is one of the few countries that has placed environment at heart of the matter a long time ago and one of the first countries in the region to create an environment ministry and formulate environmental laws for the protection of the environment in terms of its flora and fauna.

A PAT IS NOT ENOUGHMany private sector organisations have made the concept of ‘going green’ an integral part of their CSR (corporate social responsibility) policy. However, environmental experts warn that giving ourselves a pat on the back over the ubiquitous environmental activities is clearly not enough. Underneath the green veneer, the surface is still raw and it would be a misnomer to dub such

efforts as a movement. Yes, things are moving, says Omar Khalfan Nasser Al Wahaibi, CEO, Haya Water, but we are at the beginning of the road and we need to put more resources to carry it forward in a sustainable manner. “The two most pressing issues that are at the base of environment protection in Oman are wastewater and solid waste management. This has to be driven by environmental agencies with the ministry or environment supporting the other authorities to achieve these goals,” Wahaibi says.

Consider these numbers: Haya Water for the greater capital area of Muscat and the Salalah Sanitary Drainage Company in Salalah are the only two agencies that are working towards wastewater treatment. But in the rest of Oman, there is plenty of untreated wastewater flowing around.

The Census estimates shows that there are 1.6 million people living outside Muscat and Salalah, but the total wastewater network coverage in Oman is less than 10 per cent. It means that all the wastewater produced by the rest of the population is polluting the environment.

In terms of solid waste management – the household garbage, medical waste and industrial waste etc – we have just one engineered landfill in the whole of Oman. Whereas, the Municipal Solid Waste (MSW) generated by households throughout Oman is estimated at 1.6 million tonnes per year. Actually, each individual generates an average of 1.6 kilo of waste on a daily basis.

Switching off lights, planting trees, beach cleaning

and numerous other activities are all fine.

However, Oman has a lot to do on two crucial

fronts – wastewater and solid waste – to preserve

Oman’s environment on a sustainable basis.

Visvas Paul D Karra digs deeper into this urgent issue

COVERSTORY

34 June 2011

MAIN CHALLENGESaid Darwish Al Alawi, director general of Health Control and Waste Water, Ministry of Regional Municipalities & Water Resources, admits that the main challenge across the country is the disposal of the waste both solid waste as well as waste water.

If you are talking about solid waste management in general, everyone feels satisfied about the cleanliness of the country, but the problem of final disposal still persists. And for this, the Oman Environmental Services Holding Company (OESHCO) is drawing up a master plan, says Alawi. There are 44 municipalities, which come under the purview of the ministry of regional municipalities with large and small towns and villages.

In all these 44 municipalities, there are only two sanitary landfills and more than 200 dumping sites. A consultant has been appointed to study and identify the locations for the new landfills and new transfer stations. “Presently, the municipality in each city or town collects the waste and buries it as open burning is not allowed. There is proper equipment in different sites to take care of the final disposal but unfortunately, we don’t have that much of recycling and therefore we are encouraging the private sector to take up the recycling,” Alawi points out.

The other challenge is to manage the dumping sites and the government has put this on the priority list. The same is the case with wastewater. Most the cities have STPs (sewage treatment plants) but the coverage of network is insufficient when compared to the population.

CASH FROM TRASHThere is a huge amount of economical and environmental benefits from managing the waste (both wastewater and solid waste). “Right now, all the solid waste that is going into the landfills or dumping sites around the country is actually a monumental waste of money. More than 80 per cent of all that waste can be recycled,” says Dr Puneet Sarna, business development manager, Al Ahlia Environmental Services Co, which is managing industrial waste

generated in the Sohar Port and Sohar Industrial Area.

Any waste that is generated by manufacturing industries is considered hazardous waste. In general, terms, hazardous waste contains heavy metals and toxic organic compounds. And there are about 70 parameters to test

any industrial waste and categorise it as waste. As a first of its kind project in the country, the Al Batinah Hazardous Waste Storage facility being managed by Al Ahlia became operational in April 2010 and presently it is only used to store the waste. There are about 15 companies identified in Sohar, which generate hazardous waste.

Primary tasks for Oman Environmental Services Holding Company (OESHCO)a. Dialogue with current stakeholders to ascertain their views and obtain feedback

on the key standards in the provision of waste management services

b. Implementation of baseline study to obtain critical information in the current waste management sector. This information is essential for the development of a strategic masterplan for the whole country

c. Institutional framework to determine the role of every stakeholder in the waste management sector which include, legal, finance, capacity building and education & awareness

d. A masterplan for the waste management sector towards sustainability

e. Restructuring of OESHCO and its related subsidiaries to meet the re-aligned objectives

f. Development of a waste information database system

g. Development of the overview cost estimate summary for the waste management sector

Omar Khalfan Nasser Al Wahaibi, CEO, Haya Water

Jan Jansen, CEO, Mawarid, the mining subsidiary of MB Holding

Al Khamis Plaza – Tel: 24560992,Muscat City Center – Tel: 24558148Al Khamis Shoes, Sohar – Tel: 26841178

COVERSTORY

36 June 2011

This will provide the blueprint for the restructuring and privatisation of the waste management sector in Oman. OESHCO is working closely with all the regional municipalities and other key organisations to gradually take over the waste management responsibilities from individual municipalities and

Al Ahlia is presently in the process of bidding for a number of projects announced by OESHCO for managing all kinds of wastes. These include the National Hazardous Waste Management Facility in Adam; Muscat Solid Waste Treatment Plant (two sites); a bio-medical waste management facility and a few more projects all related to waste.

Wahaibi says that by taking the wastewater for treatment, we are protecting the underground aquifers from pollution. And by treating the water and making that water reusable, we are saving on desalination water, which translates into energy and by burning less hydrocarbons we are reducing the amount of greenhouse emissions. “We are also taking sludge and treating it into compost, which goes back to the environment in the form of a natural fertiliser instead of sitting in a landfill and creating more greenhouse gases,” informs Wahaibi.

CRADLE TO CRADLEThe OESHCO has come up with a novel ‘Cradle-to-cradle’ concept for sustainability in waste management, in an endeavour to make Oman a zero waste country. Waste becomes resource in the cradle-to-cradle concept in which all waste elements end up in new products (See diagram).

OESHCO was established in July 2007 based on the recommendations of the National Solid Waste Management Strategy Report commissioned by the Ministry of National Economy to streamline and privatise waste management and environmental protection activities across the Sultanate. “There are about 348 dump sites or landfill sites ranging from large sites serving a community of 100,000 to those serving less than 500 in some cases. These landfill sites if not properly managed could pose numerous health and environment hazards,” discloses Lt Col (Rtd) Azhar Haroun Al Kindi, CEO, OESHCO

One of the main activities of OESHCO in the next two years will be to re-align the waste management strategy.

Towards zero saste (Sustainable waste management concept)

privatise the waste management sector.

Presently, OESHCO is busy implementing the following projects:

Fast Track Projects as identified in the National Solid Waste Management Draft Strategy ReportWaste Sector Emergency Project – design, construction and management of 16 engineered landfills, 65 waste transfer stations and four waste treatment plantsQuick Wins Projects as follows:

Management of used tryes, electronic waste and healthcare wasteConstruction & Demolition Waste – recycling plan to manage C&D waste Management of paper recycling Closure of dumpsite in Muscat Development of Waste Information System (WIS)Waste Management Services – Proposal for pilot project for collec-tion, transportation and disposal in Al Buraimi and Al Sharqiya regions

Lt Col (Rtd) Azhar Haroun Al Kindi, CEO, OESHCO

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COVERSTORY

38 June 2011

As part of its corporate vision to move Oman towards zero waste by providing safe, efficient and most economical environmental services in innovative ways, OESHCO is also laying stress on raising the awareness levels in the community by promoting the concept of reduce, reuse and recycle of solid waste. Individually and collectively, citizens are capable of doing more than they thought possible.

SUSTAINABILITY IS THE KEYFor many private sector companies, the definition of environment preservation and protection is directly correlated to sustainability. Many private sector industries have realised that they need to balance between socio-economic development in the areas where they operate and maintain high-quality natural resources, biodiversity and life.

Says Sergio Leite, country manager, Vale Oman, “Our preservation activities revolve around understanding the local environmental needs while preventing and minimising the negative impacts and risk of our operations on the ecosystem. Furthermore, we strive to continuously invest, improve and develop technologies that will restore degraded areas and encourage biodiversity protection.”

Vale has invested approximately $40mn in its Pelletising Plant Industrial Complex in Sohar for the installation

FIBRE OPTIC PROJECTWhat services can a sewage company provide a telecom company apart from waste water treatment? Haya Water, the company tasked with connecting all parts and districts of Muscat Governorate with a modern sewage service, is doing something which most of us would not even think of. Haya Water is laying a duct for carrying telecom fibre to the homes.

This was prompted by the telecommunication authorities, which approached Haya to lay the conduits for the fibre optic networks for Muscat alongside the sewage network pipes. Work is under progress and some areas have been connected already. This way the telecom companies need not dig again to lay the fibre. All they have to do is use the ducts laid for the wastewater network as it covers all the homes and buildings in any case. This way, the telecom companies save time, money and resources, and the public health and environment is least disturbed. Dr Puneet Sarna, Business

Development Manager, Al Ahlia Environmental Services Co

POINTS TO PONDERMunicipal Waste

Generated per person per day: 1.6 kg

Total per year: 1.6 million tonnes

Engineered landfill: Just one

Dumpsites (for burying waste): 348

Recycling plants: None

Hazardous Waste

Estimated waste per year: 90,000 tons and more

Storage facilities: Two

Recycling facilities: None

Wastewater Network in Oman

Total coverage till date: 10 per cent

Only two agencies in whole of Oman tasked with managing wastewater

of advanced pollution control and environmental safety systems designed to control dust emissions, noise, solid residues and effluent quality. The first innovative approach towards controlling iron ore dust is the installation of 24 meter high wind fences surrounding the stockyards, which have the ability to trap the smallest of particles. Studies

show that wind fences cut emission of dust by 77.4 per cent.

In addition, Vale is planting two to 20 metre high trees in an oval formation, around the plant. The trees will not only add an aesthetic element to the landscape but will also act as a natural barrier to dust. To further enhance control of dust emissions, the iron ore pellets are coated with a gelatine like substance and sprayed with water to ensure that dust remains intact.

CORPORATE SOCIAL RESPONSIBILITY“Sustainable development must increase

Said Darwish Al Alawi, Director General of Health Control and Waste Water, Ministry of Regional Municipalities & Water Resources

COVERSTORY

40 June 2011

the quality of life and environment – being valuable for your company itself, the local community and the society in general. Commitment from the company to participate in sustainable development on this basis is actually what defines corporate social responsibility,” says Jan Jansen, CEO, Mawarid, the mining subsidiary of MB Holding.

For Jansen, the term environment means people, planet and profit. Explaining this, he says, On the one hand, you have the economic realm and on the other hand you got the society within which you have to operate. The economic and social realms are bound by the environment. If you are looking at that framework, then what do you want to achieve? You want to improve the quality of life of your people and your community and at the same time, you want to improve your business processes without destroying the environment. “That is one of the cornerstones of Mawarid’s philosophy. That forms one of the core values and commitments of how we do our business – namely we shall look after ourselves, the people around us and the world we live in,” says Jansen.

Mawarid has undertaken steps to minimise the damage to the environment through its mining activities by building a fully compliant modern tailings dam facility. Tailings dams are often the most significant environmental liability

for a mining project and Mawarid has taken extreme care to prevent any environmental damage. The water collected from the tailings dams is being recycled and returned to the concentrator plant while the plastic covered dam ensures that the ground water is not polluted by any seepage from the tailings.

COMMUNITY INFLUENCESome companies are inspired by the community they live in, the country they work in and the leader of the country when they think about going green. “In this regard, His Majesty Sultan Qaboos bin Said and the government are very clear in issuing directives in order to look after the environment of this beautiful country. We have talked to our teams to raise awareness about the environment,” says Michael E Hansen, managing director, Oman Marketing & Services Co (OMASCO).

“I am actually delighted to tell you that some of the European companies based in Oman, like Carillion have actually bought Hondas cars that have higher

energy efficiency and less emissions,” Hansen mentions. OMASCO has been mainly influenced by its two key principals, namely Honda and Panasonic who are saying consistently that going green means making products that are recyclable and those that have less of an impact on the planet and its resources. Both of Omasco’s principals are also looking to improve energy efficiency in their products.

Panasonic is quite advanced in testing products that have photovoltaic cells to collect solar power for recharging dry cell batteries. Such energy will power their plasma TV, the Hi-fi system or any other Panasonic products. In some cases, they are dreaming of producing enough electricity to sell to the grid. Panasonic already has launched its Eco-navi airconditioners that significantly reduce the consumption of electricity. In conclusion, we can say that the green map of Oman has been charted out and organisations have only to set out on this journey to realise the socio-economic values of being in harmony with their environment.

Sergio Leite, Country Manager, Vale Oman

Making a positive differenceAl Bustan Palace Hotel believes that it has the responsibility to respect its environment and the communities where it operates. The hotel is working hard to ensure that it makes a positive difference by focusing on four key action areas, namely energy, waste, water and community.

“The Al Bustan Palace InterContinental Muscat recognises that the link between tourism and climate change has led to pressure on the hotel industry to be more concerned about their environmental impact and carbon footprint. Therefore, we are keen to find new ways to encourage fellow colleagues and guests to recycle,” says Martin van Kan, general manager of Al Bustan Palace InterContinental Muscat, and director of operations for InterContinental Hotels Group (IHG) – Oman.

Out of the many initiatives undertaken over the past 25 years, the Al Bustan family is particularly proud of the Al Bustan Palace sewage water treatment plant. Located adjacent to the Palace, the sewage treatment plant is one of the most environmental and economically sustainable initiatives the hotel has made. The facility has the capacity to manage all wastewater from the hotel and the neighbouring Al Bustan village, with which the Al Bustan Palace has a deep and longstanding relationship.

Martin van Kan, GM, Al Bustan Palace Hotel

Of ce furniture which naturally evoke a sense of power

The wise will always see an

opportunity to get things right

Ministry of Environmentand Climate Affairs

Ministry of HealthDept. of Environment & Occupational Health

Environment Society of Oman

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Media Partners

Here’s an evening in honour

of the guiding wisdom

OMAN GREEN AWARDS 2011Oman’s most prestigious awards to recognise sustainable initiatives

that steer Oman to a greener, brighter future.

Under the auspices of

HE Mohammed bin Salim bin Said al ToobiMinister of Environment and Climate Affairs

Date5 June 2011 (World Environment Day)

VenueMajan Ballroom, Al Bustan Palace Hotel, Muscat

Time7 pm onwards

By invitation only

www.omangreenawards.com

Support Partners

Official Call Centre

*Nominations not required

●● The Green Innovation Award ● Green Landscape Award

● Green Campaign of the Year ● ● The Green Habitat Award

● The Green Research Award ● Green Footprint Award

● Green Guardian Award ● Green Champion Award

● Green Education Award

● Special Jury Award* ● Public Choice Award*

S P E C I A L A W A R D S

C AT E G O R I E S

44 June 2011

FOR A BETTER TOMORROWOman Green Awards will honour companies and individuals furthering the green cause in Oman on June 5, 2011

ENVIRONMENT

Oman Green Awards (OGA) 2011 has rolled out the ‘green’ carpet for its prestigious awards ceremony to be held on June 5 at Al Bustan

Palace Hotel, Muscat. HE Mohammed Said Al Toobi, Minister of Environment and Climate Affairs, will preside over the function as the chief guest.

Finalists from nine different categories, as well as a host of environment enthusiasts and conservationists, will be a part of this novel environment venture that has, at its heart, the basic values of environment conservation and development of a green lifestyle among the general public. OGA is being held in association with the Ministry of Environment and Climate Affairs, Muscat Municipality, Ministry of Health and Environment Society of Oman. Representatives from these august organisations will attend the green celebrations, which coincide with the World Environment Day.

A worthy cause The event, an Oman Economic Review initiative from United Media Services, has received massive support from corporate houses and individuals who have made green mission a priority. Vale, Haya Water, MB Holding Company, Panasonic and Al Bustan Palace InterContinental Muscat have joined OGA as Green Oman partners to keep the green torch burning

originality and leadership and continuity and sustainability of the initiatives are the core values that will guide the judges in identifying business houses, institutions and individuals that are involved in promoting and implementing environmental

programmes.

Awards will be presented in the following categories – The Green Innovation Award; Green Campaign of the Year; The Green Habitat Award; The Green Champion; Green Research Award; Green Landscape Award; Green Footprint Award; Green Education Award, and Green Guardian Award. In addition a Special Jury Award and Public Choice Award will be presented as special awards.

OGA, which was conceptualised and implemented a year ago to awaken eco-consciousness in every Omani citizen as well as resident, is focussed on motivating behavioural change as well as increasing awareness in relation to protection and preservation of environment. It is a celebration of their vision for a cleaner and greener tomorrow. Its three-fold objectives focus on boosting local environmental efforts and achievements; providing green groups a platform for concerted action; and raising awareness and generating greater action. More information on OGA can be got from www.omangreenawards.com.

bright in the country. The media partners of the event include Times of Oman and Al Shabiba. Support partners of the event include Business International Group, Oman Printers and Stationers, Green Cover and Infoline.

OGA has got an overwhelming response from Oman’s corporate sector. In 2010 and 2011 the Award has received over 200 entries raising environment consciousness in the Sultanate. The platform has encouraged a number of companies to start or enhance conservation efforts.

An august panel of judge will adjudicate and the winners will be announced and awarded on June 5. Effectiveness, innovation and creativity, impact,

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www.omangreenawards.com

● ABA - An IB World School ● Al-Abrar Petrogas LLC ● Al Bustan Palace InterContinental Muscat

● Al Hassan Group ● Al Madina Logistics ● Al Nahda Resort & Spa ● Architectural Wall Systems

● BankMuscat ● Bauer Nimr LLC ● Caledonian College of Engineering ● Carillion Alwi

● Cowi & Partners LLC ● Delma Energy ● Electricity Holding Company ● Europoles Middle East LLC

● Green Cover ● Gulf Infotech LLC ● Haya Water ● HSBC Bank Middle East Limited - Oman

● InterContinental Hotel Muscat ● MB Holding Company

● Ministry of Agriculture - Directorate General of Agricultural & Livestock Research

● Ministry of Tourism ● Mitra Creative Arts ● Molecules LLC ● Mott MacDonald & Company LLC

● Muriya Tourism Development Co SAOG ● National Pharmaceutical Industries Co SAOG

● National Mineral Water Company SAOG ● Niti Enterprises LLC

● Oman Marketing and Services Company ● Park Inn Hotel Muscat ● Petroleum Development Oman

● Port of Salalah ● Qais United Enterprises Trading ● Radisson Blu Hotel Muscat

● Renaissance Services SAOG ● Shangri-La’s Barr Al Jissah Resort and Spa

● Sohar Steel LLC ● Sultan Qaboos University (SQU), College of Agricultural & Marine

● SQU - Department of Soils, Water and Agricultural Engineering

● SQU - Landscaping & Irrigation Section

● SQU - Japan Cooperation Center Petroleum (JCCP) - Shimizu Corporation, Japan

● Tawoos Industrial Services Company (TISCO) ● The Platinum Hotel ● The View

● Vale Oman Pelletizing Company ● Zubair Building Materials LLC

GOOD LUCK TO THE NOMINEES

46 June 2011

Well begun is half done, they say. Going by the adage, Merge 104.8 (Merge), the upcoming English language FM radio station from SABCO Media

seems to have hit the right note. The station which goes live on June 7, 2011 won two silver awards for its unique corporate identity and stationery design at the annual Lynx Awards in Dubai recently. Merge is the first radio station to enter the market after a hiatus of over three years. Al Wisal, SABCO’s Arabic station was the last station to be launched in March 2008.

The name Merge is inspired by Oman -- a country which is a crucible of various cultures, nationalities and influences and the name was seen as a fitting representation of what the station stands for. Says Eihab A. Abutaha, general manager, SABCO Media, “We looked at the market and felt that there was a huge gap between listener expectations and what was on offer. Second, we have identified our target audience and are confident that if we offer something that is relevant to this audience they will surely tune into Merge.” The station’s tag line – ‘Global flavour local spice’, reinforces the confluence of cultures theme. In terms of its primary audience, the station is targeting English-speaking Omanis, Asian and Arab expatriates.

Strong tailwindsSABCO’s experience with Al Wisal gives Merge a head start in terms of product knowledge and market dynamics. “The biggest learning from Al Wisal has been insights about being closer to society,” says Abutaha. The new station is banking on its programming mix to appeal to its target audience.

THE PERFECTALCHEMYMerge 104.8 FM is looking at redefining listening habits and growing the radio market in the Sultanate. Mayank Singh reports

Eihab A AbutahaGeneral Manager, SABCO Media

MEDIA

47June 2011

Nadim Attieh, station manager, Merge says, “Our effort is to encourage listeners to tune in for a longer duration, like one and a half hours a day and for this the programming has to be tight.”

The onus of delivering this largely rests on Chris Fisher, the station’s presenter cum programme director and a veteran who has spent 18 years in the radio industry. Fisher says that market research revealed major lacunae in the radio industry in the Sultanate – there were a few stations which were doing everything, but in an unstructured fashion, others were concentrating on local mores but with an over-the-top approach while a few were catering only to a niche audience.

Merge’s programming grid tries to strike a balance between generic and specialist shows. The generic programmes will be played out during the day and early evenings while specialist shows will be aired after 10pm. Weekends will see special shows like Oman Talents, Middle East Top 30, Weekend Drive etc. The station has lined up a mix of local and international RJs to appeal to both traditional and contemporary cultures.

SABCO is pulling out all the stops to ensure the success of Merge. A strong advertising campaign using outdoors and print has been planned. The campaign will encourage listeners to ‘Switch to 104.8 FM.’ A professional agency has been hired to disseminate information about the station using social media like Facebook, Twitter and web streaming. The station has invested in state-of-the- art technology and towers. Says Abutaha, “We have looked at every touch point, the demographics and psychographics of Omanis, expatriates, the aspirations of different age groups and based on all this feedback we came up with a station that is based on what people want us to be.” And SABCO promises to continue the learning process. “We are not only a radio station to listen to but also a station which listens to its audience,” says Attieh.

Merge will be the fourth private radio station to enter the market after Hi, Hala and Al Wisal. The Sultanate presently has seven radio stations. For listeners a new station offers more choices and is sure to

be a welcome addition. The move is also expected to strengthen the radio industry in Oman but the million dollar question is whether advertisers will bite the bullet? In a market dominated by newspapers, radio remains a growing but small player in the advertising sweepstakes.

Bang for the buckFeroz Khan, director of sales and marketing, Merge says, “Clients look for reach and return on investment and as travel time increases the reach of radio can be seen and felt clearly. Secondly, radio advertisers can focus on their target group (TG).” He goes on to state that if an advertiser is looking at selling a product to women, he can easily place his spots during those hours of the day when more ladies are listening to the station. Similarly, for someone looking at reaching out to Omani youth, concepts like broadcasting out of a University can be created helping advertisers to connect

Nadim AttiehStation Manager, Merge

Feroz KhanDirector of Sales and Marketing, Merge

with their TG. “Newspaper advertising is a case of hit and trial, but radio is passive, interactive and engaging and this helps in reaching out to ones audience,” adds Abutaha.

Votaries also argue that radio lends itself naturally to tactical advertising like sales, shopping festivals etc. Abutaha does a back of the envelope calculation to show that radio advertising works out to be cheaper than advertising in newspapers. A quarter page advertisement in a leading newspaper would cost upwards of RO1,000 and an advertiser taking two insertions has a 20 second chance of being seen by the intended audience. The same RO2,000 spent on radio translates into 40-50 spots played over a 10-15 day period. A 30 second spot on radio costs anywhere between RO30-150 based on when it is being played. With close to 80 per cent of businesses in Oman being small and medium enterprises (SMEs), a RO50,000-60,000 newspaper campaign is clearly out of their reach, but radio is something that suits their pockets. Says Khan, “Advertisers needed choices as far as English radio stations are concerned and they are excited about Merge.”

“We are all passionate about making Merge a success. So while profitability is important, money is going to be a by- product of engaging our audience and giving advertisers a bridge to reach out to them,” sums up Abutaha. Having started on a winning wicket, Merge is looking at keeping up the momentum. Well, we do not have to wait for long to test the station’s promise.

Oman Ad spend – Media splitsFrom January – December 2010

Media Amount (in mn)

Share (in %)

Newspaper 63.31 82

Television 4.12 5

Magazine 3.50 5

Outdoor 4.74 6

Radio 1.83 2

Total 77.53 100

Source: Mediate

48 June 2011

An unwillingness to pay for intellectual capital is a shortsighted approach that can cost businesses dearly

Lack of maturity

REAL ESTATE

The author is General Manager,

Al Habib & Co.

BY SUDHAKAR REDDY

There is a tendency in the developing countries not to pay for intellectual

capital but to pay only for physical capital. For example, businessmen are willing to sink in millions of dollars in putting up a factory but are unwilling to pay a few thousand dollars to a consultant who can advise them if it is the right technology, the right location, the optimal scale, the best vendor etc. The result is that such investments are sub optimal and in some cases the whole business goes bankrupt.

This can be seen in real estate development too. Developers often use poor quality architects and give design briefs that are far removed from what the market wants. We have had instances of developers planning an investment of a couple of million rials but refusing to pay a little for a feasibility study by a reputed real estate consultancy. The developer’s only criterion is cost. Architects, chosen on the basis of low cost, design poor quality buildings with sub optimal structures. Similarly, developers give design briefs from their understanding of the market and without using the services of a real estate consultancy. The developers do not realise that that is costly as the investment ends up giving poor returns.

Good real estate consultancies contribute by advising developers on the best mix, on the optimal size of units, finishes etc. This is absolutely critical. In extreme cases we have advised clients not to develop anything on a particular plot but sell the land or just keep it for developing at a later date.

A small or medium size development will take two to three years from concept to completion. Unfortunately, developers make investment decisions based on present returns with no thought to how the feasibility and returns will change by the time the development comes on stream two to three years later. As it is widely known, real estate in Sohar is in distress. Most of the development in Sohar has come up without any feasibility studies and was unwarranted. Similarly a lot of office space is being built in Muscat with no demand projection and a lot of them are going to be vacant for long periods. This could

have been easily avoided with proper feasibility studies.

Even when a development is profitable, one comes across many cases where retail is built when there is no retail potential in that location, the sizes of the apartments are too large and hence the rent per square metre or sale price per square metre is sub optimal, the finishes are not in consonance with the positioning and the positioning is itself inappropriate to the location. A good real estate consultant will, at minimal cost, help a developer avoid these pitfalls.

Some developers believe that good and expensive architects and real estate consultants should be used only for premium projects. This is totally untrue and a good architect and a good real estate consultancy can make an enormous contribution even to a project targeting the middle and lower income buyers/tenants.

SOME DEVELOPERS BELIEVE THAT GOOD

ARCHITECTS AND REAL ESTATE CONSULTANTS SHOULD BE USED ONLY

FOR PREMIUM PROJECTS BUT THAT IS NOT TRUE

49June 2011

The world has always had a fascination for the dreams and aspirations of young

people because it is in their minds that the seeds of tomorrow are likely to sprout.

No country can afford to ignore the thoughts and vision of its youth while planning

for its future. With more than 60 per cent of Oman’s population being under the

age of 25, its fast-growing young population is a force to be reckoned with while

formulating policies for the future. Here sharing the secrets of their success and their

outlook for the future are a group of talented and ambitious young Omanis who

have excelled in their respective professional domains and have made it into the

last 12 of this year’s BizPro Awards for young achievers. Muhammed Nafie reports

HRSPECIAL

HRSPECIAL

50 June 2011

As a civil engineer with an astute and pioneering vision for Oman’s urban development, Ammar Suleiman Al Kharusi’s passion for property development begins from a very

tender age. He considers his current stint with Omran as a call of destiny to work for materialising his colourful dreams of a beautiful Oman studded with attractive tourism destinations.

Ammar who envisages a prospective future for the tourism and construction sectors in the country believes that each country or city has its own characteristics and architectural identity. “We need to develop Muscat as Muscat and not in the mould of any metropolis. For that we have to harmonise the natural beauty of Oman and its traditional architecture with the actual needs of our time.”

AMMAR SULEIMAN AL KHARUSI 28 Supervisor, Omran

Message to young Omanis:“Impossible is nothing, work hard to

achieve your goals and sky is the limit.”

AN EPITOME OF VISIONOman has to strike a balance between its actual requirements and its natural beauty and traditional architecture, says Ammar Suleiman Al Kharusi, Supervisor, Omran

His vision for Oman’s urban development can be summed up in his own words: “Develop the right thing with right attitude and with right financials.”

Hailing from an educated family, Ammar attributes his success to his parents who were very particular about the quality of their children’s education. Three of his five sisters are doctors. He calls himself a proud alumnus of National Private School, Al Khuwair. After schooling, he left for UAE to do his Bachelor’s in Civil and Environmental Engineering from the University of Sharjah. Immediately after completing his studies, he started working in UAE where he found immense opportunities for a young civil engineer to thrive and build up his career. With a lot of high-profile projects, UAE offered him better exposure and a more competitive environment to grow. “I got a chance to work with Tenure Construction International, a reputable project management company, and to be part of a number of high-profile and prestigious projects such as Dubai mall and various other projects in Abu Dhabi,” says Ammar.

The years spent in UAE as a student and a professional helped Ammar make a solid foundation for his career. However, he always cherished coming back to Oman to apply his skills and experience and implement his vision of urban development in the country. After five years, he came back to Oman in 2010 to start his innings with Omran. “I was lucky to join a company of Omran’s stature which seldom recruits young professionals like me. However, it has a comprehensive policy of Omanisation and, in my case, my experience abroad in a more competitive environment was greatly helpful.”

It is unsurprising that Steve Jobs, the founder and CEO of Apple Inc., has cast a spell on him. The perseverance, dedication and innovation with which Jobs braved the challenges in his chequered career to emerge as one of the successful business magnate and inventor of our time has been inspiring for Ammar. He is also a guitar hobbyist and a fan of James Hetfield and Jimmy Page.

51June 2011

YOUNG EXECUTIVES TO WATCH OUT FOR

STEPPING OUTSIDE ONE’S COMFORT ZONEAliya Abdullah Al Zadjali, Control & Automation Engineer, Mott MacDonald feels that though Omani women have proved to be outstandingly successful in different walks of life, they are yet to change certain prejudices in society about their capabilities and roles

When a flamboyant Aliya Zadjali tells you that cooking is almost a passion for her, you may not believe it, on the face of it. But you cannot disagree with

her as she goes on citing the reasons for it and describing the underlying philosophy of a process which starts from nothing and ends up preparing a delicious stuff which makes your mouth water. It is this quest for novelty and a sense of satisfaction in whatever she does that makes her different and enabled her to be the only woman among the three finalists of BizPro Awards 2011.

Aliya does not believe in doing something for nothing or just to serve a ceremonial purpose. That is why she was initially reluctant to do an MBA which she thought was nothing more than an ornamental addition to her résumé. But, once she realised the importance of the course in adding value to her mission and achieving her goals in life, she decided to do it. Aliya greatly treasures the support and motivation she got from her parents throughout her life. She is very much obliged to her mother who sent her abroad for studies and stood by her at all junctures of her educational and professional life. Aliya who did her entire schooling in India earned her Bachelor’s in Electronics from MH Saboo Siddik College of Engineering in Mumbai. She also earned a diploma in electrical and video engineering. She believes that her stay and study abroad have been instrumental in moulding her personality and sharpening her skills thereby contributing to her professional success.

Coming back to Oman in early 2004, she joined Mott MacDonald as control & automation engineer. Though she has just completed seven successful years in Mott MacDonald, Aliya knows very well when consistency gives way to complacency. “I don’t like to be complacent; I don’t like to do monotonous things. I am here because I enjoy my work and gain a lot of knowledge. I am very focused on what I am doing and do not want to be a jack of all trades and

a master of none,” says a determined Aliya. She always sought to go beyond her comfort zone taking up new responsibilities and braving challenges.

Aliya says that Omani women have proved to be outstandingly successful in different walks of life in the country. However, she feels that they have yet to change certain perceptions and prejudices of a male-dominated society about women’s capabilities and their role in society.

ALIYA ABDULLAH AL ZADJALI 29Control & Automation Engineer, Mott MacDonald

Message to young Omanis:

“Women should not restrict themselves to household duties. They are capable of both working and taking care of home. Keep an ambition in mind.

Educate yourself and believe in your strength.”

HRSPECIAL

52 June 2011

SEIZING THE MOMENTKhalid Mohammed Al Barwani, Team Leader, Corporate Banking, Ahli Bank is optimistic about conquering new heights in his professional ladder

For Khalid Mohammed Al Barwani, banking is literally a profession in his blood – a legacy he inherited from his father who retired from Gulf International Bank (GIB) in Bahrain.

This young and aspiring executive who aspires to be a CEO of a bank in future grew up watching his father climb up the career ladder. That is why he attributes his professional success to his dad who served as a mentor and a role model.

After having his schooling in Bahrain, Khalid moved to UK to do his BA (Hons) in Economic and Business Policy from the University of Portsmouth (presently known as Portsmouth Business School). This was followed by a Masters in Economics from the same university.

Though he spent almost 19 years in Bahrain, Khalid had always cherished coming back to Oman to serve his homeland. Besides, as a growing economy Oman has offered a lot of opportunities for young Omanis like him in various sectors including banking. Af-ter his higher studies in UK, Khalid came back to Oman and joined National Bank of Oman (NBO) as a management trainee. Later, he joined HSBC as an

023_300_2mbed_205x270_Oman 1 12.05.10 10:31

executive management trainee. It was during this time that he was sent to UK for a two-month executive trainee development programme. Soon after complet-ing the course, Khalid was promoted as a Manager in HSBC. Before leaving HSBC in 2008, he was again promoted as a senior relationship manager.

In September 2008, he joined Ahli Bank as a team leader. The new job was a challenging responsibility as Ahli Bank was a new player in the market and it was the beginning of the financial crisis. But Khalid’s sound academic and professional background helped him take it up with self-confidence. “I am tasked with generating business from large corporates in Oman; and I look after general trading and multinational companies. Though the last two years has been challenging because of the financial meltdown, our corporate banking business and the bank as a whole has done very well,” says Khalid.

As a leader, Khalid firmly believes in total team involvement. “You need to get your team to buy into the vision or target before you can achieve it. When someone has a good idea, recognise it, reward it and let them take ownership of it. A manager always takes credit while a leader gives the credit to others,” he avers.

He is also full of praise for the prompt action of the government to address the demand of the youth in the aftermath of the recent protests in the country. He thinks that it has offered a lot of opportunities and addresses the problem of unemployment. He encourages youth to seize all available opportunities.

Khalid also reveals that he will be utilising the BizPro 2011 scholarship to attend the IFF School of Project Finance in London, an effective training programme for project finance professionals run by International Faculty of Finance (IFF), UK.

KHALID MOHAMMED AL BARWANI 33Team Leader, Corporate Banking, Ahli Bank

Message to young Omanis:

“Work hard, remain focussed, stay true to your convictions and don’t be afraid to take risks.”

The new SWISS Business: A 2-metre bed designed to free your imagination. –

INNOVATION, SWISS MADE.

Enjoy ultimate sleeping comfort in the new SWISS Business. Sink into your full-length bed, adjust the seat’s air cushions to your preferences, turn on the massage function and let yourself drift into sweet dreams. You can now personalise your space on our daily ights from Muscat to Zurich and on every inter-continental ight by 2011. Contact your travel agent or SWISS in Muscat: 24 79 66 92 or visit swiss.com

SWISS.COM

023_300_2mbed_205x270_Oman 1 12.05.10 10:31

HRSPECIAL

54 June 2011

That he spends most of his leisure time reading books on banking and finance and observing the latest nuances in this field all over the world reveals how vigilant and serious he is about

his profession. It has been this passion to update and innovate himself that enabled him to grow as one of the most successful young executives in the country with a solid and sound academic and professional background. A Fulbright scholar with a long-term vision for Oman’s sustainable growth and development, Mustafa definitely belongs to a special breed of dynamic, ambitious and well-qualified Omani youth who are poised to play a pioneering role in the future course of this country.

As the senior manager of project finance and syndication, Mustafa currently plays a decisive role in formulating the policy of the bank with regards to financing various projects of national importance

BRIGHT AS A BUTTONMustafa Mohammed Al Lawati, Senior Manager, Project Finance and Syndication, National Bank of Oman predicts a crucial role for ambitious and well- qualified Omani youth in drawing the future course of their country’s development

MUSTAFA AL LAWATI 32Senior Manager, Project Finance and Syndication, National Bank of Oman

Message to young Omanis:

“Work in an organisation that you love and dedicate yourself to its development.

Do not take things for granted.”

such as power plants, new airports, refineries and dry docks.

Having started his career with treasury and covering various areas of it gave him a macro picture of banking and stood him in good stead as a professional. After having his bachelor’s from the University of Missouri, St Louis, US, in finance and accounting, Mustafa started his professional life with a French company based in the United States where he worked for one year. Later, he moved back to Oman to join Oman International Bank where he worked in the treasury for one year. After joining NBO, Mustafa handled different departments of treasury such as the foreign exchange desk, Omani rial desk, international money market desk and the derivatives and currency desk.

It was during this time that he won the prestigious Fulbright scholarship by the US government enabling him to do his masters from the University of Cleveland in business administration, banking and finance. He completed the programme scoring over 99 per cent marks. After completing his masters, Mustafa came back to NBO and joined the corporate banking division and later switched over to the project financing division as a senior manager.

As an ambitious professional, he wants to explore new avenues and take up more challenging positions that will be helpful both for the organisation and the country as a whole. Referring to his outlook for the next five years, Mustafa says he expects himself to be handling more responsibilities which require his expertise and calibre, either within NBO or in any other government organisation.

YOUNG EXECUTIVES TO WATCH OUT FOR

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56 June 2011

When Monther joined Nawras late in 2009, there were hardly seven months to go before the company

launched Oman’s second fixed-line network marking the start of a new era in broadband accessibility in Oman. For Monther who was inducted as the head of product development team, it was one of the most challenging times in his career as he had to work under a very tight schedule. But his vision, persistence and hard work paid off and his previous experience in the telecom sector came in very handy as he tackled the challenge head on.

Monther has recently switched over to the sales support department taking up more responsibilities. As a team leader, he feels that his style of management varies from team-to-team. At present, he is busy reshuffling the entire team. He works very closely with each team member in

order to extract his or her opinion with regards to the future plan. Referring to his interaction and mutual exchanges with the team members, Monther says, “We do have certain internal targets, both service and sales targets. I always make sure that the entire team gets enough support to meet these targets. I myself go into the field to ensure this.”

Monther hails from Al Sharqiyah region. Having graduated from a government school in Sur, he won a scholarship from the Ministry of Higher Education which enabled him to pursue his higher studies in Canada. He completed his Bachelor’s in Computer Science from Saint Mary’s University in Halifax and did a minor in Business Administration.

Coming back to Oman in 2003, Monther joined Omantel as a network administrator. He held different positions and was part of various important projects initiated by the company such as ADSL in 2005 and E-government in 2006. When he left Omantel after four years, he was manager of the company’s Network Operation Centre. Before joining Nawras, Monther has a short stint as the territory account manager of Awaya, an international company. Though initially he was working from home and was reporting to the regional office in Dubai, he managed to set up an office in Oman with a sales and support team comprising of 15 members.

Monther is also an aspiring entrepreneur as he plans to call it quits and launch his own business after a couple of years. Besides, he is a certified diver and likes camping, fishing, swimming and playing basketball. A firm believer in the spirit of social services and charity, Monther thinks that he owes much to the country and wants to give back.

WAY TO GOMonther Al Mamari, Product Manager Data & Internet, Nawras believes that he is obliged to give back to society as he is indebted to the country for his success

MONTHER AL MAMARI 30 Product Manager Data & Internet, Nawras

Message to young Omanis:

“Everything is possible if you have a will. Look for opportunities instead of finding excuses. Live in

peace and help others.”

YOUNG EXECUTIVES TO WATCH OUT FOR

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58 June 2011

Azhar’s inherent dynamism and passion for exploring new avenues surfaced at a very tender age. In addition to being selected as a student leader in sports and extra-curricular activities, she

tried her hand at a variety of jobs during summer holidays in marketing, IT, insurance and banking. Those summer jobs were enriching experiences that have stood her in good stead as a professional because they helped her gain valuable exposure to a number of sectors and acquire skills and competence.

As a management and commercial finance professional with over 12 years of experience in the oil and gas industry, Azhar believes that her sound academic background and broad experience are instrumental in her becoming a successful executive. Azhar did her schooling in the UAE with International GCSEs (University of Cambridge) obtaining academic excellence. She also secured A-Levels in Computing and Pure &Applied Mathematics from the Universities of London and Oxford. Coming to Oman, Azhar completed her BSc in Finance from the College of Commerce and Economics in Sultan Qaboos University.

After graduation, she started her career with PDO as contracts engineer and developed to become a seasoned supply chain analyst. While working in PDO, Azhar was selected for the prestigious

Fulbright scholarship by the US government and enrolled in a PhD programme in management in the US. After a few years, she left PDO and had a short stint as managing director with Global Management Services.

Currently she is the corporate planning and business development executive in Oman Oil Marketing Co. This position blends her skills as a strategic thinker and operational specialist, as she is tasked with developing the frameworks, systems and planning processes to align operations with the vision and corporate strategies. With Oman Oil poised to undertake ambitious projects aimed at diversifying its core business, Azhar aspires to play a leading role in those ventures.

Azhar has also volunteered some of her time in teaching and empowering disabled students and doing social works in organisations like the United Nations which have widened her horizons beyond the boundaries of workplace.

Azhar believes that women essentially have to put in more efforts to succeed, owing to their household and professional responsibilities that compel them to strive in order to maintain a balance of priorities. She advocates a holistic approach to life where measuring success on the basis of material factors alone such as money or status is not sufficient.

Azhar Mohammed Al Barwani, Corp. Planning and Development Executive, Oman Oil Marketing Co, advocates a holistic approach to life and the pursuit of personal excellence

PURSUIT OF EXCELLENCE

AZHAR MOHAMMED AL BARWANI 34Corp Planning and Development Executive, Oman Oil Marketing Co

Message to young Omanis:

“Pursue what you have passion for, no matter how simple it is. Believe in your dreams- earnest desire,

patience and faith determine how far you go.”

YOUNG EXECUTIVES TO WATCH OUT FOR

HRSPECIAL

60 June 2011

FOR A PARADIGM SHIFTFor Oman to become an industrial power, the skills and capabilities of its youth need to be harnessed and utilised properly, says Said Ahmed Al Rawahi, Plant Logistic Manager, Europoles

It was not for seeking a lucrative and greener pasture that Said Al Rawahi gave up his prestigious teaching career at Royal Guard of Oman Technical College some two years back. But it was due to

his realisation that his bookish knowledge would no longer be helpful for the students as long as he does not acquire enough practical experience in what he teaches. He firmly believes that textbooks loaded down with a lot of information will not serve their purpose unless and until they synchronise with hands-on experience; and fears that certificate sans quality education will churn out half-baked students with poor skills and capabilities. It must be this aversion to an educational system that concentrates more on giving certificates than maintaining quality that prompted him to conceptualise an alternative pedagogic plan for his children. “I do not want them to have degrees, masters or PhDs. But I want them to have skills. I will make them explore the world, improve themselves, enhance their skills and find their space. If my son wants to become a carpenter, I will definitely help him to be one of the best carpenters,” says Said.

An alumnus of Royal Guard Technical School, Said graduated with an additional BTEC National Diploma of the British government in 1997. Then he was sent on a scholarship to the United Kingdom to do his Bachelor’s in Computer Engineering from the University Crantil. After three years he came back as an IT teacher to his Alma Mater where he taught students from the fifth grade to Higher National Diploma which is equivalent to third year in the University. After seven years, Said joined Europoles as plant logistic manager at its production plant in Nizwa where he is tasked with an array of responsibilities such as maintenance.

of the machinery, warehouse supervision, quality control and delivery of poles. In the meantime, he had completed his masters from Sultan Qaboos University Information Engineering.

Asked about the contradictions in an IT wizard of his stature working in an area which has nothing to do with his expertise and ambitions, Said retorted saying: “If I have enough money, I would have resigned from my current job and start my own research in information technology.” He stressed the necessity of having more investors in IT and related areas to tap the full potentials of the youth of the country. He also warns that if the skills and capabilities of the Omani youth are not harnessed and utilised well the country’s industrial development will suffer a lot.

Said who suggests a complete overhaul in the educational system in order to make it more industry-friendly also criticises the attitude of some young Omanis to work. “Most of the fresh graduates are aspiring for high-profile jobs and lucrative salaries though they do not have sufficient skills to get it. What do they have in mind are buying new cars and houses and marriage,” he adds. He also advises them to reset their goals and let their life be driven by a long term vision to develop their skills and improve their professional expertise.

SAID AHMED AL RAWAHI 33 Plant Logistic Manager, Europoles

Message to young Omanis:

“Seek knowledge; do not give priority for salaries and positions. Your pursuit for knowledge will be rewarded in the long term, though it will be a bit

difficult in the short term.”

YOUNG EXECUTIVES TO WATCH OUT FOR

61June 2011

YOUNG EXECUTIVES TO WATCH OUT FOR

When Suleiman started his career with Omantel as a fresh engineering graduate back in 2000, what he did first was trying to understand his job

description thoroughly. He evaluated himself against the responsibilities mentioned in the job profile in order to understand the nature and magnitude of the task in hand. This evaluation helped him to understand his strength and weakness vis-à-vis the new job and equip himself for that. He tried his best to adapt himself to the new requirements of the job; and it took only 2-3 months for him to understand and learn the tricks of the trade. It is this attitude to face challenges head on and take the better of them through dedication and hard work that helped him to excel as a successful telecom engineer.

Hailing from Al Hamra, Oman’s ancient city which is home to one of the largest cave systems in the world, Suleiman did his schooling from an Omani government school. He recalls that though his father had no formal education, he used to read a lot and was very particular about providing quality education to his children.

After schooling he joined Sultan Qaboos University to do his Bachelor’s in computer engineering. When he completed the Bachelor’s in October 2000, Suleiman was the first Omani engineer to join Omantel’s international roaming division. He was tasked with all technical responsibilities of the division. After 2-3 years, he handled some managerial roles. In the meantime, he has also completed his Master’s in business administration from the University of Strathclyde, Glasgow in 2007 which enabled him to strengthen his management skills.

He joined Samatel as marketing director in January 2010 when the company was set up. Though he was in the commercial unit, he has worked in multiple roles

SCALING NEW HEIGHTSAccording to Suleiman Khalfan Al Yahyai, Marketing Director, Samatel, equipping oneself to meet the requirements of each new responsibility is essential for the success of a professional

SULEIMAN KHALFAN AL YAHYAI 32 Marketing Director, Samatel

Message to young Omanis:

“Keep on learning. Love your job, excel in it and move forward. Go to office not for salary but to do something

that you really love.”

looking after various departments in the company. Later, when the CCO left the company three months into the launch, Suleiman was appointed as the acting CCO looking after all the commercial units. After the launch, he was promoted as business development head of the company.

Suleiman always looks for new challenges in the profession to explore his talents and potential. He asks young Oamnis to equip themselves for new responsibilities in order to boost their self-confidence. He says once they could find their comfort zone it would be difficult for anything to beat their morale. He warns them against concentrating on earning degrees and certificates with scant regard for practical knowledge.

HRSPECIAL

62 June 2011

When she won a scholarship from Oman LNG to go abroad for higher education after having graduated with 94 per cent marks from Wadi Kabir Higher

secondary School, it was a dream come true for Farkha Al Kharusi. Unlike her sisters who studied in Sultan Qaboos University, Farkha wanted to go abroad for higher studies because she always desired to sail in uncharted waters. Since mathematics was her favourite subject, she wanted to pursue an accounting career and left for the UK to do her Bachelor’s in accounting and finance from the University of Leeds.

She firmly believes that her four-year stay in Britain was greatly helpful in moulding her personality. “Staying abroad itself away from your home and dear ones gives you a lot of strength. It acclimatises you with different cultures and situations so that your personality gets the wherewithal to face bigger and more serious challenges in life,” she says. Farkha still recalls those black days when Arab

ON A RESPONSIBLE MISSIONFakhra Salim Al Kharusi, formerly Assistant Chief Accountant, MB Petroleum, believes that young Omanis are accountable not only to the institutions they work for but also to the society and nation as a whole

and Muslim communities were targeted in several parts of Britain in the aftermath of 9/11. “As I was wearing headscarves, it was very difficult for me to go out because we were singled out for attack by some hooligans.”

Coming back to Oman, Fakhra worked for one year as an audit assistant in an audit firm. Later, she joined MB petroleum as an account and during the last five years climbed up the career ladder to become the senior assistant accountant of the company. Farkha, who when we met was about to quit the company to join Oman Oil, said that her five-year stint in MB petroleum were crucial in her development as a successful executive.

Farkha finds pleasure in sharing her expertise with her junior colleagues and newcomers and does her best to encourage and support her team members. “I think each person should be accountable to his or her company and to the society and country as a whole. The more you give the more you get. I always share this idea with my colleagues and always convince them the importance of working as a family.

Farkha who is doing her ACCA and wants to excel as the CFO of a company in the future reminds Omani youth especially women about the importance of having quality education and proper guidance and training to succeed in life.

FAKHRA SALIM AL KHARUSI 28 Assistant Chief Accountant, MB Petroleum*

Message to young Omanis:

“Complete your studies, gain knowledge and other skills. Think positively and do not blame others. Do your

best for the development of country because it is a collective responsibility.”

* She has recently resigned to join Oman Oil

63June 2011

YOUNG EXECUTIVES TO WATCH OUT FOR

When he was a school boy, the child in Mohammed Ahmed Al Rahbi could have been impressed by the respect and admiration his teachers garnered not only from

students but from across the society. It was during this time that the desire to be a teacher was etched in his mind, though the profession that destiny held in store for him was that of a fund manager. But having guided a number of Omani youngsters in Fincorp by giving them guidelines to groom themselves and build up a successful career, Mohammed thinks that he is doing his teaching job in a different, if not more productive, way.

An SQU graduate with Bachelor’s in accounting from the College of Commerce and Economics, Mohammed started his career in Fincrop in 2008 as an officer at asset management department. He left the company as the assistant vice president in May 2011 to join Oman National Investment Corporation Holding (ONIC holding). Mohammed says that his three years in Fincrop were instrumental in sharpening his skills and moulding his career as an aspiring fund manager. During this time, he became efficient in dealing with various finance related responsibilities and developed his communication, leadership and decision making skills. “Fincrop helped me a lot to grow and gave me exposure to the functions of various areas in the financial sector. I was part of Fincorp’s investment team which achieved the best performance for mutual funds in Oman in 2009.” says Mohammed.

Mohammed is very focused and ambitious about

Youngsters should prefer consistency to short-term gains, says Mohammed Ahmed Al Rahbi, Assistant Vice President of Financial Corporation Company

MOHAMMED AHMED AL RAHBI 32 Assistant Vice President, Fincorp*

Message to young Omanis:

“Give priority to quality education and training. Work hard and be positive; always prefer consistency to short-term gains so that you will get far better

rewards in the long run.”

*He has recently joined Oman National Investment Corporation Holding (ONIC holding)

AGAINST THE GRAIN

his career. He wants to excel as a fund manager and aspires to be the managing director of a big investment company in Oman in the next ten years. Currently he is pursuing his MBA from the University of Strathclyde, Glasgow in order to enhance his leadership and management skills. He also spends his leisure time reading management books. Besides, in the long run, he also dreams about launch his own company.

He feels that youngsters should be more consistent and forward-looking. He warns them against setting short-term goals and changing companies at regular intervals as it will adversely affect their career objectives.

HRSPECIAL

64 June 2011

It has been consistency, perseverance and dedication to work that helped Naji Al Nabhani to build up a successful career in control and automation engineering against many odds. He believes that there is no

dearth of opportunities in the country for young Omanis to grow and excel as long as they are ready to take up new challenges and responsibilities across the industrial spectrum. Naji who started his career as a trainee knows well that consistency and persistence will eventually pay off. That is why he advises youngsters not to run after glamorous and lucrative professions at the expense of their calibre and interest. Concentration of young talent in a few select professions is a cause of concern as it may lead to the gradual disintegration of various other areas due to lack of talented and a committed workforce.

Having secured a Bachelor’s of Engineering in Electronics from Caledonian College, Naji joined Tebodin Consultants and Engineers as a trainee in 2003. After spending a couple of years in various junior positions, he moved to TR Engineering in 2006 from where he resigned as Instrument Engineer to join Oman Gas Company a couple of months ago. It was towards the end of his stint in TR that Naji was nominated for BizPro awards and became one of the 12 finalists. He also completed his Master’s in Business Administration from

Naji Mubarak Al Nabhani, Control and Automation Engineer, Oman Gas Company, warns against running after glamorous and lucrative professions at the expense of skills and interests

NAJI MUBARAK AL NABHANI 32 Control and Automation Engineer, Oman Gas Company

Message to young Omanis:

“Have a long term vision and work hard for it; be patient and don’t rush into anything.”

CONSISTENCY MATTERS

Knowledge Horizon affiliated to the University of Cambridge. A solid technical background and management skills were greatly helpful for Naji to scale new heights in his career. He believes that better time management, technical expertise and communication skills were helpful for him to emerge as a successful team leader.

Backed by his string leadership and management skills, Naji looks forward to securing some responsible and challenging project management positions in future. In the long run, he also plans to start a company in oil and gas consultancy because he believes that his expertise and technical know-how in the same field will assist him to run the business successfully. However, he does not want to rush into starting a business all of a sudden without necessary preparations and forethoughts. Naji suggests that education system in Oman needs to be upgraded to make it in tune with the new demands of the job market and to keep pace with the changes going on world over. A footballer and a frequent visitor to gyms, Naji says that physical health is a prerequisite for mental health. He is also a calligraphy hobbyist and plans to hold an exhibition of his calligraphic works in the future.

65June 2011

YOUNG EXECUTIVES TO WATCH OUT FOR

Abdullah’s Al Reesi’s mantra of success is very simple: Since there is no elevator to success, you have to take the stairs. He firmly believes that to win without risk is to triumph without

glory; and that is why he considers consistency, sustainability and persistence as the hallmarks of professional success. “If you spend five years in five different companies, you will end up virtually as a fresher without having any experience. These days companies are looking for fresh engineering graduates to cast them in their specific mould so that shifting companies in short intervals will spoil one’s career prospects,” says Abdullah. He advises young Omanis to be more focused and work hard to have command and mastery of a specific field than wasting time trying to become a jack of all trades. He also urges them to get rid of certain hangovers of the past that prevent them from pursuing professional success and govern their attitude to work and commitment to responsibility.

A graduate in chemical engineering from Sultan Qaboos University (SQU), Abdullah started his career in Petroleum Development Oman (PDO) as Petroleum Engineer in 2002. The industrial training he obtained from various drilling and petroleum companies and engineering institutions including in Germany as part of his academic programme enabled him to start his career with great confidence. He is currently pursuing his masters in petroleum engineering on a part-time basis from SQU. After spending three and a half years with PDO, Abdullah joined Oman Petrochemical Industries Company (OPIC) to work for its projects

Greeting rid of certain hangovers of the past is essential for pursuing a successful profession and achieving success in life, says Abdullah Ali Sarhan Al Reesi, Senior Projects Engineer, Al Hassan Engineering Company

DARE TO STRUGGLE, DARE TO WIN

ABDULLAH ALI SARHAN AL REESI 32Sr Projects Engineer, Al Hassan Engg Co

Message to young Omanis:

“Be consistent and focused. If you keep on changing companies without concentrating

in a specific area, you will have to regret the decision eventually.”

in Sohar and Fahud. But since the project did not get budgetary approval, the company had to scupper the project halfway. This incident marked a period of transition in Abdullah’s career as he decided to switch over to construction and joined Al Hassan Engineering as a senior project engineer, despite an opportunity to go back to PDO. However Abdullah says it was not a complete change of profession as construction engineering has much in common with chemical engineering. During the last three and a half years, he has completed four projects and has spent some months in the estimation team.

Abdullah presently leads a construction team at the site of a petrochemical project in Adam. As Al Hassan is all set to develop its own engineering section, Abdullah is looking forward to playing a leading role in the new venture. As an ambitious professional, he aspires to become a project manager within the next five years and eyes a senior management position in the long run. Himself a bibliophile, Abdullah takes special interests in reading the works of Arab Booker laureates most notably Tunisian novelist Ahlam Mostaghanemi.

68 June 2011

GCC economic integration: A long way to goIn the 13th Gulf Cooperation Council (GCC) consultative summit GCC officials feel embarrassed about the lack of progress on integration many years after it came into effect

DR JASIM HUSAIN ALI

The 13th Gulf Co-operation Council (GCC) consulta-tive summit held in Riyadh paid

only lip service to economic issues facing the six-nation group. The leaders used the meeting to discuss emerging political and security matters engulfing the region, notably developments in Bahrain and Yemen. Scio-political prob-lems have lately become the norm rather than exception in the larger Middle East and North Africa (MENA) region. Undoubtedly, GCC countries cannot overlook possible ad-verse effects of what happens in Libya and Syria on their se-curity arrangement.

Customs unionNevertheless, the final com-munique touched on the need to resolve outstanding issues related to implementation of the customs union project.

For obvious reasons, GCC officials feel embarrassed about the lack of progress on this integration project many years after it came into effect. Conversely, real progress has occurred in subsequent integration schemes, notably the Gulf Common

Market (GCM), which started in 2008.

In retrospect, the customs union project went into effect in 2003 with the original plan calling for its full implementation in a span of two years. Yet, the GCC’s 26th summit held in Abu Dhabi in late 2005 pushed the deadline back by two more years, but that didn’t help much. No fresh deadlines were placed until very recently or in the run-up to the 13th consultative summit.

Unlike earlier deadlines, the new one seems realistic rather than idealistic. The new policy calls for developing a plan by this year-end to resolve all remaining issues facing the customs union project over the next three years, so as to ensure its full implementation at the start of 2015.

Overcoming obstaclesThe new approach was adopted during meeting No. 90 of the GCC’s finance ministers that discussed a range of economic issues of collective concern. The meeting was held in Abu Dhabi with the UAE heading the GCC until the next regular summit in Saudi Arabia

towards the end of this year.

To be sure, the customs union encountered serious challenges ever since its inception, notably the need to develop a formula to ensure fair distribution of customs duties acceptable to all six states. Sticking points include port of entry and final destination of goods

Another issue requiring concrete solution is ensuring smooth movement of trucks carrying goods at crossing points. This is particularly the case on King Fahd causeway linking Bahrain to Saudi Arabia as well as border crossing points of Saudi Arabia and the UAE. Suggested solutions call for ensuring availability of visas for non-GCC drivers around the clock on the one hand and sufficient support at entry points.

Common marketAs mentioned earlier, GCC states found greater success with the GCM scheme despite it coming into effect some five years after the customs union project. The GCM allows free movement of factors of production among member

The author is an eminent economist

and Member of Parliament, Bahrain

(jasim.husain@gmail.com)

69June 2011

states. The project covers all economic and investment services, dealings in the stock market and setting up of companies in the public and private sectors besides social insurance among GCC citizens.

Still, the last two GCC summits added new dim-ensions to the GCM, with the 30th summit held in Kuwait in 2009 adding an extra item to the list, namely access to technical studies provided in member states. Also, the last summit held in the UAE saw an agreement to allow GCC firms the right to open branches in member states and to be treated as local ones.

Still, the last two GCC summits added new dimensions to GCM, with the 30th summit held in Kuwait in 2009 adding an extra item to the list- access to technical studies provided in member states. The last summit held in the UAE saw an agreement on allowing GCC firms the right to open branches in member states and to be treated as local ones.

Not surprisingly, the GCM project seems popular with the

business community for the intended purpose of granting merchants unrestricted access to regional economies. Besides, the scheme provides people in the GCC with an opportunity to realise the benefits of the regional grouping.

Monetary unionConcurrently, the 13th consultative summit offered few clues about the progress of the Gulf Monetary Union (GMU) project, in turn officially launched at the start of 2010 but with no specific deadline. Only Saudi Arabia, Qatar, Kuwait and Bahrain are parties to the venture. The GMU’s final goals include unifying monetary and

fiscal policies and therefore introducing a single currency for member countries

Certainly, GCC people cannot be blamed for looking for economic benefits from the grouping that came into being more than 30 years ago.

Undoubtedly, delays in the comprehensive implementa-tion of the customs union project only undermine popu-lar appreciation of integrating projects altogether. Other than the customs union, hopes re-main high for the GCM, which is designed to remove all sorts of restrictions on intra-GCC business by promoting eco-nomic citizenship.

GCC STATES FOUND GREATER SUCCESS WITH THE GCM

SCHEME DESPITE ITS COMING INTO EFFECT SOME FIVE

YEARS AFTER THE CUSTOMS UNION PROJECT

SNAPSHOT

Gulf Common Market ¡started in 2008Full implementation ¡of customs union expected by 2015Consultative summit ¡offered few clues about the progress of Gulf Monetary Union

CLOSE UP

70 June 2011

PORSCHE PLEASURE AUTOTALK

THERE IS NOTHING TO SET YOUR PULSE RACING THAN PUSHING A PORSCHE TO ITS LIMITS. AND IF YOU HAVE THE ENTIRE RANGE OF THE PORSCHES AT YOUR DISPOSAL FOR A TEST DRIVE THEN THE RUSH OF ADRENALINE MULTIPLIES. VISVAS PAUL D KARRA PARTICIPATES IN THE PORSCHE WORLD ROADSHOW 2011 HELD IN OMAN

Porsche Centre Oman, Sata, demonstrated the power, precision and outstanding driving performance of the world’s leading sports car

manufacturer by hosting an exclusive driving event – the Porsche World Roadshow. Participants were presented with a rare opportunity to test-drive the entire model range over a period of seven days.

The Porsche World Roadshow is designed

to showcase the distinct joy of driving a Porsche with the help of Porsche-trained and certified instructors who offered advice and driver training to an impressive number of guests who gained a thorough understanding of the brand’s products and philosophy. These included the exquisite Panamera Turbo with 500hp; the 320hp Boxster Spyder; the much sought after 408hp Porsche Carrera GTS 911 and also the Cayenne diesel. This gave Porsche enthusiasts a chance to experience the

latest Porsche technologies embedded in the new models at one go.

The team of the Porsche World Roadshow brought the most admired sports cars including the popular Panamera as well as the new Cayenne, the latest addition to the model range. Altogether, 14 cars were shipped to Muscat for this highly popular driving programme. Following the twisted and breathtaking mountainous roads to Buah off Fanja, all Porsche

71June 2011

vehicles demonstrated exceptional dynamics, high safety features and uncompromising comfort even among the mountainous terrain.

The objective was to test drive the Porsche model range under the guidance of a team of professional instructors from Germany. The guests had all their questions answered and were professionally trained on mastering the challenging driving techniques, both on and off-road.

“Every Porsche model offers outstanding performance, so it is important for drivers to learn how to harness such power safely,” said Elias Awad, sales manager at Porsche Centre Oman, SATA. “The Porsche World Roadshow aims to achieve this in a fun environment with world-class instructors. This is an important event for us and it has been an absolute pleasure to see so many guests enjoying a rewarding Porsche experience in such magnificent surroundings,” he added.

72 June 201172

Volkswagen Middle East has launched an exciting new competition calling all Golf GTI owners to compete for a chance to win an all expenses paid trip to Austria where they will be invited to join in with the GTI

celebrations of the 30th anniversary of the very first Golf GTI meeting. Entries should include exciting GTI stories, images or videos, fond memories they may have of times spent with their beloved GTI or

thrilling experiences they want to share with other members of their GTI family based in Oman and across the Middle East – the person with the most interesting story to tell will win the prize.

Volkswagen ME launches competition

The new Aston Martin V8 Vantage S was launched at Al Muhannad al Hashar showroom recently. “The Vantage S has an outstanding performance and everyday usability. With its superb handling and easy control, the car is as comfortable for driving through the streets of Muscat as well as on winding mountain roads,” says Paul Varley, sales manager at Aston Martin Oman.

“We have been open for about eight months, and so far we have completed 14 registrations in the showroom, with 11 of those being retail basically people coming in from the street and purchasing one of the cars,” adds Varley. The 4.7lt V8 engine delivers 430bhp and is combined with a specifically designed seven-speed gearbox to give the driver the most responsive performance possible.

Aston Martin V8 Vantage SJaguar’s XJ launched

Mohsin Haider Darwish launched the all new 3.0ltr V6 XJ at its showroom in Muscat. The launch function was addressed by Justin Weaving- Jaguar, sales director, Johnny Amiouni-regional sales manager from the Jaguar regional office and David Aziz, director automotive, MHD. The

new model of the Jaguar XJ will be available at a price of RO29,995 with a 5 year/250,000 kms warranty. The original XJ was the last car designed by Jaguar founder Sir William Lyons and the latest car to wear the nameplate. It is as innovative, beautiful and desirable as its famous forebear.

Audi is entering a new vehicle class with the new Audi A1. The compact A1 condenses all of the virtues of the brand with the four rings – a progressive design, uncompromising quality and groundbreaking efficiency – within a space of less than four meters. James Oliver, general manager at

Audi Oman said, “The A1 is both a modern city car and a sporty all-rounder for an active lifestyle. It is the first premium car in the subcompact segment – a true, fully-fledged Audi and judging by the number of inquiries, especially from the young generation, it will be a success in Oman.”

The Audi A1 arrives in Oman

73June 201173

Zawawi Trading Company, launched the iconic Mercedes-Benz CLS in suitably spectacular fashion recently, hosting a stunning event aboard a luxury mega yacht in the Gulf of Oman. The CLS four door coupé made fashionable jaws drop when it first debuted in 2003, and quickly established itself as the ultimate must-have

style statement for drivers across Oman and the Middle East. With distinctive design elements inspired by the breakthrough SLS AMG super sports car, the CLS sports a new scowl courtesy LED high performance headlamps, and will be available to the image elite as a V6 CLS 350, a V8 CLS 500, or a supercharged bi-turbo V8 CLS 63 AMG.

Mercedes-Benz CLS makes a splash

When the Mazda Zoom-Zoom club was launched, Towell Auto Centre (TAC) promised its customers extra value; and this commitment is reflected yet again with its latest tie-up. To give their loyal customer base travelling to Salalah better value this year, the Zoom-Zoom club has announced a

partnership with the Salalah Marriott Resort. Under this partnership, customers holding a Mazda Zoom-Zoom Card can avail complimentary hotel transfers to and from Salalah International Airport, complimentary transfers to Salalah market and numerous discounts. This offer is valid till December 31, 2011.

Mazda partners with Salalah Marriott

Suhail Bahwan Automobiles (SBA), the sole importer of Renault cars into Oman, hosted at its Qurum showroom an evening get-together for Renault Safrane owners in Muscat.

“The customers have all been very excited about being here, and we will surely do this again many times,”

says an official spokesperson of SBA. “Renault Safrane is the finest car one can get in the mid-size luxury segment. And families that own a Safrane reflect a joy for life. It’s our pleasure to see so many people just indulging in pure pleasure. It speaks a lot about the car too. Many call it the ‘pure pleasure’ luxury sedan,” he adds.

Exciting evening for Safrane customers

Cadillac won more categories than any other brand in Kelley Blue Book’s 2011 Brand Image Awards, a set of honours based on consumer perceptions of automotive brands in the US. Kelly Blue Book is the trusted resource for prices, values and expert and consumer reviews on new and used cars in the

U.S, and is the only vehicle valuation and information source relied upon by both consumers and the industry. Kelley Blue Book named Cadillac winner of Best Exterior Design Brand in the luxury category as well as Best Interior Design Brand and Best Comfort Brand among all classes.

Cadillac wins honours

74 June 2011

BankDhofar has signed an agreement with Dar Al Atta’a which enables customers to donate directly through the banks’ cash deposit machines. BankDhofar is able to grow its presence in the non-profit arena and is distinctively positioned as a key supporter of Dar al Atta’a by offering a unique service not only to customers, but to anyone who wishes to donate and contribute to the community through the bank’s cash deposit machines. The CDM screen

will display a charity icon and depositors will be able to select their desired charity organisation to donate to. Dar Al Atta’a is the first charity organisation to sign up with the bank.

BankDhofar supports Dar Al Atta’aOman United Insurance Company has settled a big insurance claim from Al Asfoor Furnishings. The Al Asfoor Furnishing warehouse near Wadi Kabir was gutted in a fire in October 2010. Ali H Al Asfoor, managing director of Al Asfoor Furnishings received cheque for

the company’s fire claim from Ravi Shankar, CEO, Oman United Insurance Company. Also present on the occasion were S F Fernandes, general manager (GI) of Oman United Insurance Company and NB Shetty, assistant general manager, risk management services.

Oman United Insurance settles claim

The creative team behind the successful Save Energy Oman campaign is celebrating after winning one of the UK’s top accolades at this year’s Drum Marketing Awards.

The Edinburgh-based branding agency, navyblue picked up this sought-after award at a glitzy ceremony in Manchester, England this month, in recognition for its creativity in the hugely successful Save Energy Oman campaign,

which ran from May to September 2010. Winning the ‘Best Cause Related Marketing Campaign’ category, this is the first award of its kind for the energy saving crusaders. Launched a year ago by Oman’s Electricity companies led by Electricity Holding Company. Save Energy Oman campaigned for residents and businesses in the Sultanate to reduce the output of their air conditioning systems during the hot summer months.

Save Energy Oman wins award

Oman Oil Marketing Company celebrated its successful first quarter 2011 results recently. The strong showing comes on the heels of a historic financial performance in 2010 in which the company recorded a net profit of RO6.9mn. The first quarter 2011 revenue increased by 40 per cent compared to Q1 2010 and its net profit was up by 18 per cent. Chairman Sheikh Salim bin Abdullah al Rawas along with CEO Omar bin Ahmed Qatan hosted a commemorative function during the

company’s quarterly “Al Multaqa” staff engagement forum to personally congratulate each and every member of the omanoil family.

Omanoil celebrates successful first quarter

ahlibank was the ‘Silver’ sponsor of the Corporate Governance Conference for banks and financial leasing companies, held recently at the Al Bustan Palace InterContinental Muscat Hotel. Organised by the Central Bank of Oman (CBO), the conference was chaired by HE Hamood bin Sangour al Zadjali, executive president, Central Bank of Oman (CBO). The conference focused on an in-depth analysis of effective

and efficient corporate governance and addressed recent developments and issues. The latest executive management guidelines and practices for responsible organisational direction and management were also presented. Abdul Aziz Al Balushi, CEO, ahlibank says, “It is necessary for every corporation to ensure that they employ and maintain an efficient corporate governance system in order to move forwards.”

ahlibank sponsors corporate governance conference

75June 2011

In line with Oman International Bank’s philosophy of supporting small and medium entrepreneurs for their pioneering and dynamic role, OIB’s Small Business Unit recently participated in the Small-Medium Entrepreneurs Gathering, organised by Sultan Qaboos University and the Ministry of Commerce and Industry. The ‘Friend & Partner’ initiative underlines the importance of supporting the SME sector. The bank aims at providing an ideal service to establish a common ground on which the younger generation can

build upon. Representatives of OIB’s Small Business Unit provided an in depth explanation to visitors motivating them to fulfill their potential.

OIB participates in SME gathering

In keeping with its commitment to education and support for youths in Oman, National Bank of Oman (NBO) sponsored the activities of the ‘ College of Banking and Financial Studies’ (CBFS), Open Day. The event was inaugurated by HE Yahya

al Jabri, executive president of Capital Market Authority, in the presence of Dr Ashraf al Nabhani, dean of the college. NBO’s Stall at the exhibition attracted many visitors, including CBFS students and other visitors from different local

institutions and colleges who were attending the event. Speaking on the occasion, Hassan Abdul Amir Shaban, NBO’s chief marketing officer says, “Our bank believes in participating in events which help introduce NBO as an ‘Employer of choice’”.

NBO supports CBFS Open Day

Italy’s Artemide Group, a world leader in the high-end residential and professional lighting sector, plans to make a foray into Oman’s high-end market with its award winning products portfolio having iconic product design and reliable quality. This was announced by Artemide officials during a product

launch event at Grand Hyatt Hotel recently. The programme started with the signing of the partnership agreement by Maqbool Ali Salman, MD, Al Hassan Group and Ernesto Gismondi, President and CEO, Artemide Italy in the presence of Paolo Dionisi, Italian Ambassador to the Sultanate.

Artemide lighting forays into Oman

Fujitsu General Ltd (FGL) of Japan, the manufacturers of ‘General’ air-conditioners, introduced a ‘five speed wall mounted split air conditioners’ in Oman recently. Oman is the first country in the GCC where this product, was unveiled marking yet another milestone for the Khimji Ramdas – General partnership. J Yanagimoto, managing director of Fujitsu General, says, “We have developed the most powerful AC again. This 5

speed wall mounted split AC, has a wide range of fan speeds which means more efficient cooling.”

‘Airflow’ or quite simply air movement inside a conditioned space is one of the key factors that contribute to ‘comfort’. While a normal AC provides a three speed fan, FGL has been able to cover a wider spectrum of customer needs in comfort, by providing a five speed fan selection.

Fujitsu General launches 5 Speed ACs

Leading advertising agency Team Young & Rubicam (Y&R), a member of the MENA region’s premier communications conglomerate, the MENACOM Group recently garnered a host of prestigious awards at Dubai Lynx 2011, including Agency of the Year and Network of the Year, in addition to two Grand Prix awards in the categories of Print and Design.

Organised as part of the Dubai International Advertising Festival, the Dubai Lynx Awards is a key annual event for the MENA region’s media and advertising industry, through which the region’s most outstanding accomplishments in creative advertising are acknowledged and honoured. The award ceremony was held at the Madinat Arena in Jumeirah.

Y&R crowned agency of the year

Al Khamis Trading Company, a well-known retailer for best shoes collections in Oman, has recently unveiled catalogues of the new spring/summer sports collection and men’s spring/ summer collections from Clarks. With a wide range of shoes for men and women, the Clarks Sport range includes performance sportswear,

as well as sports fashion looks. The spring/summer collections from Clarks include fashionable styles for all the family – from women’s statement sandals and platform wedges, to men’s nautical boat shoes and kids’ colourful canvas.

Shoes for summer

BLENDING DESIGN AND PERFORMANCE Samsung Electronics Co. launched the ST95, ST90 and ST30 cameras -- the latest additions to its ultra-slim, stylish design range, delivering the perfect balance between style and functionality. The latest launches reinforce Samsung’s ambition to produce high performing, fashionable and portable models for all customers, which still maintain a premium and high quality feature set to guarantee great images. The ST95, ST90 and ST30 boast impressive performance features within their ultra-slim line design. With each device measuring 16.5mm (ST90), 16.9mm (ST30) and 17mm (ST95), the new cameras ensure users have the most sleek and stylish compact cameras in the market to match their personal style.

INTERACTIVE LEARNINGSMART Technologies Inc, the world’s leading provider of interactive whiteboards showcased its latest range of education solutions at the fourth edition of the Gulf Educational Supplies & Solution (GESS) show at the in Dubai Airport Expo recently. With 20 years of first hand experience in helping teachers achieve better results with products that support student-centered learning, SMART continues to provide innovative interactive learning products that are proving to be a key resource for Middle Eastern countries to develop their educational infrastructure and improve learning outcomes.

THE LIGHT TOUCH Lenovo has unveiled its thinnest ThinkPad – the X1. The X1 is only 0.65 inch at its thinnest point and weighs only 1.7 kg. It has a spill-proof keyboard with backlighting as a bonus. The 13.3 inch glossy screen is fashioned out of the mighty Gorilla glass and boasts a resolution of 1366 x 768. Intel’s Sandy Bridge processors powering the X1, ranging from a 2.1Ghz i3 to a 2.7Ghz i7. Coupled with up to 8GB RAM, the X1 will happily eat spread sheets. The integrated Intel HD 3000 graphics should meet work and video needs with no stuttering or complaints.

77June 2011

78 June 2011

Ours is a time when humanity is saved by knowledge as much as it is

burdened with it. The volume and complexity of human knowledge has become so phenomenal that it far exceeds our ability to deliver correctly, safely and reliably. Though we have accumulated stupendous know-how and put it in the hands of the most highly talented, trained, and hardworking people, avoidable failures are common and persistent in all walks of our life from medicine to finance and business to government. Despite the dazzling success of medical science and the spectacular improvement in surgical capability, major errors are being repeated even by the super specialists. It points to some inevitable human inadequacies which may creep into whatever we do making a mockery of our abilities and expertise.

The Checklist manifesto: How to get things right by Atul Gawande, internationally acclaimed writer and surgeon, suggests a different strategy for overcoming these failures which are frequented even by the best-trained people. The book explains how checklists serve as a solution to build on and take advantage of humanity’s collective knowledge and expertise, however ridiculous the idea may sound initially.

Written in a luminous prose lifting effortlessly off the page, the book examines how checklists can bring

GETTING RID OF INEPTITUDE

ATUL GAWANDE’S THE CHECKLIST MANIFESTO: HOW TO GET THINGS RIGHT EXAMINES HOW EFFECTIVELY CHECKLISTS CAN HOLD IN CHECK

AVOIDABLE FAILURES WHICH ARE COMMON AND PERSISTENT IN ALL WALKS OF LIFE FROM MEDICINE

TO FINANCE, BUSINESS TO GOVERNMENT.A REVIEW BY MUHAMMED NAFIE

BROWSINGCORNER

precautions, checklists helps them recall and clearly set out the minimum necessary steps in a process and establish a higher standard of baseline performance.

Apart from giving a detailed account of some successful checklist stories, Gawande also describes how he prepared a surgery checklist and set a research team to work making it more usable. While drafting the checklist, they adopted a do-confirm rather than a read-do format to give people greater flexibility in performing their tasks. It also made them stop at key points to confirm that critical steps have not been overlooked. After three months of using the checklist, almost 78 per cent of surgeons, anesthesiologists, nurses and others found it very easy to use and observed that it had improved safety of care and prevented errors in the operating theatre. However, he complains that the doctors are a long way from actually embracing the idea.

Checklist promote a culture of teamwork and discipline and make sure that we apply the best of knowledge and expertise we have consistently and correctly. When half of heart attack patients do not get their treatment on time because of errors, and not because of scarcity of knowledge or expertise, Checklist emerge as an important solution to save us collectively from being accused of ineptitude and recklessness.

The publication featured in Browsing Corner is provided by WHSmith Bookstore

*This coupon cannot be combined with any other in-store promotions. Offer valid until August 31, 2011.

Cut out this coupon from OER and present it at the WHSmith’s

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featured in the June 2011 issue, or 5% discount on all other books.

about striking improvements everywhere from medicine to investment banking, cooking and professions and businesses of all kind.

Some of the most difficult feats such as building skyscrapers of mindboggling sophistication and flying planes were made possible by checklists. In the complex world of surgery, a

90-second checklist which could reduce deaths and complication by more than one-third in hospitals around the world at virtually no cost is being adopted throughout the NHS and healthcare services worldwide.

Though even experienced personnel fail to grasp the importance of certain

79June 2011

and help them grow with the business,” adds Dr Muthanna.

Elucidating his management style he states that he is a strong believer in interacting with every aspect of the business without losing the strategic planning of the organisation. He does not like sitting in an ivory tower. “I am always involved in the details of the business for two

reasons – one, to have a feel of every aspect of the business and thereby work as a maestro to ensure that all divisions are working in harmony. Success is achieved with this strategy along with the focus on growing sales and this is something that I think about all the time. ”

His advice to the young generation is simple and profound: “Focus on a career that you choose for yourself and do not move around too much in your career making frequent shifts; it will give you a thin penetration and understanding of the business. Work hard, look into the details, and be loyal to the company that you are working for.”

Dr Muthanna Al-Durrah, CEO, Genetco has the proverbial Midas touch when it

comes to establishing new businesses. Having completed his PhD from Purdue University, US in 1982, he joined the team that started IKEA in Kuwait, in 1984. Over eight years he worked with several project developments like Arby’s fast food, Bertie, a shoe agency from UK, NAPCO and many others.

“I worked as a portfolio manager for Al Homaizi Group, one of the largest business groups in Kuwait, managing real estate development, funds, and investments. During Iraq’s invasion of Kuwait, I maintained operations of the fund out of London, and then I moved to Cairo with the same group,” says Dr Muthanna.

After working in real estate development in the early 1990s, he went onto establish the Arby’s chain in Egypt in 1994. He opened five outlets in quick succession, one of which soon became the seventh highest selling Arby’s in the world with over $2mn annual revenue. Arby’s has over three thousand outlets in the world.

In 1998 he took on the responsibility of developing

RadioShack in the Middle East. Over the next 10 years, RadioShack, Middle East grew from scratch to become a $100mn company with 96 stores in the region. “We became RadioShack’s third largest international business after Mexico and received numerous awards,” he avers. In 2006 he established another company called Mobile Shop, setting new benchmarks for display and branding in the region. The result -- 74 outlets in Egypt in a span of two years. In 2009, he moved to Oman with Genetco, a leading company in the Sultanate. Genetco has two main lines of business – Engineering and Trading in consumer durables. The company has several large MEP and facility management contracts, many renowned brands, over 150 dealers and 1,600 employees.

Success principles“You stand a better chance of success establishing a well-recognised brand or franchise as you benefit from its recognition and experience; moreover, the principal helps in setting initial systems and policies with an already tried product or service. One factor which is immensely strategic is human resources. Whenever I establish a new business or franchise, I select young graduates and train them

Acquire mastery in your fieldA focus on developing talent and persistence has enabled Dr Muthanna Al-Durrah to achieve path-breaking success over the years. A report by Mayank Singh

BEYONDBOARDROOMS

QUICK FACTSSports:• Swims twice a week; exercises every day; visits the gym and plays basketball on Fridays

News:• Keeps track of global financial markets and other developments on CNN.

People who have left a • lasting impression: Dr Ali Tolba, Chairman of Delta group and Yacoub Al Homaizi, Chairman, Al Homaizi group

Management style:• Open door policy