2010 oct - dec issue

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Oct - Dec 2010Volume 2 - Issue 4

Living Life to the Fullest

VivaLife

Random RecipesDiet be Damnd

Dates an Ideal FoodDate Recipes too

IRAQ

Business Perceptions

Jashanmal90-year Retail History

Business BytesBusiness news

Porsche CayenneA Hybrid too Good

Buckling Paper BuckValuing Worlds Foreign Currency Reserves

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3www.vivalife1.com Oct - Dec 2010

Managing Editor Sunil Pvee Senior Editor Yacoub Omar Editorial Assistant Marcel AssousiContent Contributors Butros Shadly - Ken Rubin - Leena Ayyad - Martin Tobola - Rita Alshoaibi

Art Director Reyas Ensign Design & Layout TMC Kaur Web Designer Mohammed AbbasPhotography Ashraf Hassan Marketing Analyst Namaya JayamanaeSales Co-Ordinator Michelle PauleFor Content [email protected] ForAdvertisement [email protected] For more info [email protected]

Website www.vivalife1.com

MBS Group Publication - All rights reserved

5 Editorial

6 Porsche unveils Cayenne Hybrid

10 Toyota introduces Avalon 2011

12 Business Bytes

16 Pareto Principle

18 25 years of Dot com

20 Buckling Paper Buck

24 Jashanmal - 90 year retailing history

28 Iraq - Business Perceptions

31 Dates an Ideal Food

34 Random Recipes

36 Your Cosmic Calendar

6

10

18

12 20

24 28 30

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4VIVALIFE Oct - Dec 2010

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We all laud tolerance, or at least we should. We believe thata lack of tolerance among our fellow beings is the rootcause behind many of the conicts in the world around us.

Good for us. Now that we have benevolently patted ourselves onour back, perhaps it is time to take a really good look; right underour noses among the community we live and work in. Do we showtolerance to those around us? For that matter is tolerance the rightattitude we should be displaying? Is tolerance by its very natureimplying a condescending attitude on our part?

Communities differ along religious, nationalistic, ethnic, racial andlinguistic lines; they are divided into indigenous people, disabledpeople, migrant workers and people in-between; and then they arefurther demarcated by wealth, education, gender. No matter wherewe live in this wide world, the diversity of our community and ourinability to identify with a community other than our own mightcome as a surprise to us.

Let us take a look ... Except for the omnipresent hamburgers, piz-zas, sushi or biryanis what is the extent of our interaction withcuisines of other communities? How about the arts music, lms,theater, literature except for the popular varieties what is ourexposure to them. Have we ever created the opportunity to visit aconcert or cultural festival of another community? It has been saidthat a culture is the sum total of all the inuences that a region has

undergone, and this region no doubt has undergone quite a few;but despite the variety of these inuences, what has its impact beenon us?

How about the rights of people working for us, or with us? Do werespect their rights to human rights as enshrined by the UN andother bodies. When was the last time, or even the rst time, thatwe actively attempted to propagate tolerance towards other com-munities; or, at least refrained from stereotyping, including gender-typing others? How about our assumptions and beliefs about othernationalities and ethnic groups; have we ever made any attempt toverify the veracity of these impressions?

We seem to easily forget that every community is based on interde-pendence among its diversity. The very survival of the human raceis based on the intrinsic diversity in a community, not in its homo-geneity Darwin proved this long ago on the Galapagos Island andelsewhere. However, we still seem to have difculty accepting this.

Meanwhile, lets pat ourselves on being tolerant ...

An Editorial Note ...

SunilPve

e

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Porsche Centre Kuwaitrecently introduced 5new models of Cayenne

to the market, including itsagship hybrid model theCayenne S Hybrid. Speaking in

front of a crowd of hundredsof Porsche enthusiasts andafcionados gathered at a lav-ish launch ceremony, GraemeHunter, General Manager ofPorsche Centre Kuwait, em-phasized the new features ofthe Cayenne which meet cus-tomers demand in the localmarket. We are extremely

proud to launch the new Cay-enne. This model representsthe perfect balance betweenelegant design, powerful driv-ing dynamics and high level ofcomfort. Despite all of this, theefciency on the new modelsof Cayenne is a signicantimprovement over its prede-cessors, making this model anoutstanding trendsetter in itssegment.

More dynamic and more efcient, more spacious insideand yet lighter overall, the new Cayenne models pointto the future of technology. And in its sporting elegantdesign, the new Cayenne models are more Porschethan ever before.The new Cayenne enters the Kuwaitmarket with several versions, led by the Cayenne S Hy-

brid, the rst production car from Porsche with hybriddrive.Like every Porsche, the new Cayenne models havebeen developed according to the principle of PorscheIntelligent Performance more power on less fuel,greater efciency and lower CO2 emissions. Together,the ve versions offer customers the exact model oftheir choice.

Of the ve new models of Cayenne, the base model

comes with 3.6-litre V6 engine delivering 220kW powerthrough a six-speed manual gearbox or an optionaleight-speed Tiptronic S. Other specications includePorsche Traction Management (PTM) with active all-wheel drive; acceleration 0100km/h in 7.5seconds(with Tiptronic S in 7.8seconds); top speed 230km/h;fuel consumption 11.2ltr/100 km (with Tiptronic S9.9ltr/100 km) and CO2 rating 263g/km (with TiptronicS 236g/km).

Cayenne Diesel is powered by a 3.0-litre V6 enginethat delivers 176kW through eight-speed Tiptronic S.

Porsche unveils Cayenne Hybrid

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PTM with permanent all-wheel drive ; acceleration0100km/h in 7.8sec; topspeed 218km/h; fuel con-sumption 7.4ltr/100km;CO2 rating 195g/km.

Cayenne S 4.8-litre V8,294kW; eight-speed Tip-tronic S; PTM with ac-tive all-wheel drive; ac-celeration 0100km/hin 5.9sec; top speed258km/h; fuel consump-tion 10.5ltr/100km; CO2rating 245g/km.

Cayenne S Hybrid is aparallel full hybrid 3.0-litresupercharged V6 and syn-chronous electric motor,

279kW overall system out-put; eight-speed TiptronicS; PTM with permanent all-wheel drive; acceleration0100km/h in 6.5sec; topspeed 242km/h; fuel con-sumption 8.2ltr/100km;CO2 rating 193g/km.

Cayenne Turbo 4.8-litre

biturbo-V8, 368kW; eight-

speed Tiptronic S; PTMwith active all-wheeldrive; acceleration 0100km/h in 4.7sec; top speed278km/h; fuel consump-tion 11.5ltr/100km; CO2rating 270g/km.

Given these facts andgures, three out of vemodels in the range re-main below the limit often litres fuel consumptionper 100 kilometres. While,two models the CayenneDiesel at 195g/km andthe Cayenne S Hybrid at

193g/km also remainbelow the emission limitof 200grams of CO2 perkilometre.

Beneting from a weight-optimised mix of materi-als and concept changeson the overall vehicle suchas the new, extra-lightall-wheel drive, weight isdown, for instance, on theCayenne Turbo by no lessthan 185kilos from previ-

ous versions, despite the

improvement in productsubstance and an evenhigher standard of all-round safety. Clearly, thisis good news not only interms of fuel consump-tion and CO2 emissions,

but also when it comes toperformance, agility andhandling on the road.

As a result, the new Cay-enne offers even moredriving pleasure than be-fore both onroad and of-froad, combined with even

greater everyday drivingqualities, enhanced com-fort and supreme el-egance. Brand-new, sport-

ing but elegant designmakes the new generationof the Cayenne in 2010 aneven closer member of thePorsche family, bringingout its particular characteras a sporting performerfrom every angle andclearly revealing that par-ticular shape and design so

typical of a Porsche.

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Toyota recently in-troduced the boldly

redesigned 2011Avalon. Evoking a timewhen travel was sophisti-cated, elegant and com-fortable, the new Avalonpossesses a distinctivenew exterior style whileoffering a restyled interiorrich with premium touchpoints and practical new

technologies.

Dynamic New ExteriorRe-styled Avalon proj-ects an elegant, outgoingpresence; a wider, moresubstantial grille ties intostate-of-the-art projectorheadlamps, working witha broad, undisturbed front

hood to suggest a lowered

center of gravity that em-phasizes the Avalons wide

stance.

The new headlamps, whichcombine multi-reectorhalogen high beams withhalogen or HID low beams,utilize light pipes to cre-ate a signature, night-timeappearance. The front foglamps, now integrated into

a trapezoidal front bumper,provide a wider angle ofillumination.

Viewed from the side, NewAvalon is enhanced byadditional use of chrometrim, redesigned rockerpanels, and glare-resistantouter mirrors with inte-

grated turn signals.

Toyota introduces Avalon 2011

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At the rear of the car, iden-tication is clearly denedby a single Avalon logolocated above the licenseplate. Dual-exhaust pipesare integrated into thecutaway trapezoid shape

of the lower bumper for amodern image. Taillightshave been reshaped toreduce turbulence at therear, and integrate stop,turn and side marker light-ing functions in one com-bined lamp.

Spacious Interior Built For

ComfortA new interior has beendesigned with a contempo-rary style. The new interiorremains generously spa-cious and elegant, ttedwith comfortable seatingand thoughtfully integratedamenities. The rear seat-ing area is congured toseat three passengerscomfortably, with amplelegroom and reclining rearseats, unique in the seg-ment. The rear headrestshave also been reshapedand enlarged for bettersupport, and a convenientip-down center armrestprovides storage when themiddle seat is not in use.

The steering wheel in-cludes controls for Blu-etooth hands-free phones,the audio system, climatesystem, and the informa-tion center.

A dual-zone climate controlsystem has nine air-ow

modes for more precise

control of interior cli-mate, and a clean-air lter

removes dust and pol-len. The front-console boxhas a sliding armrest thatmoves 4.7 inches front torear, able to accommodatea wide range of driver po-sitions.

Performance and EfciencyCombined

Avalons exceptional com-bination of ample horse-power and excellent fueleconomy offers one ofthe best overall dynamicperformances in the largesedan segment.

New Avalon is powered bya 24-valve, dual-overheadcam 3.5-liter V6 enginethat produces 268 horse-power at 6,200 rpm.The engine is equippedwith the latest dual VVT-ielectronic valve-controlmechanism that providesa broader power-band,while requiring less fueland generating feweremissions. It is mated to a

multi-mode six-speed au-tomatic transmission.A roadworthy mix of neride quality and accuratedriving control is deliveredby the Avalons MacPher-son strut suspension,which uses coil springs atall four corners. Rack-and-

pinion steering combines

with front-wheel-drive andoptimized steering gear fora natural handling feel.

Safety is StandardThe new Avalons occu-pant-safety strategy in-

cludes use of extensivelytested energy absorbingstructures, protective sideimpact beams and over-head structure, advancedbelt systems and activefront headrests as stan-dard equipment. Avalonwill also have a redesignedaccelerator pedal assembly

and a brake override sys-tem.

Seven airbags, includinga front knee bag for thedriver, and front side cur-tain airbags for both rows,are also standard. Toyotasstandard Star Safety Sys-tem includes Vehicle Sta-bility Control (VSC), anti-lock braking system (ABS)with Electronic Brake forceDistribution (EBD), BrakeAssist, and TRAC tractioncontrol system.Each wheel has its ownpressure sensor to warn iftire pressure drops, pro-viding the driver with anearly warning to change a

tire safely.

Avalon 2011Even with numerous re-nements inside and out,the Avalon remains trueto the idea that comfort ishonest and uncomplicat-ed, and Traveling AvalonClass is rich in simple,

familiar pleasures.

Avalon will also have a re-designed accelerator ped-al assembly and a brake

override system.

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Caribou Coffee AlwaysSocially Responsible

Caribou Coffee, being partof the Kuwaiti culture hasa strategic commitmentto lead a strong sociallyresponsible role in theMiddle-East. As part of

this role, Caribou contin-ues to play an active rolein promoting the activitiesand projects of the Kuwaitiyouth including being anactive sponsor of ProjectNation Proud to be Ku-waiti and Negdar.

Caribou Coffee recentlydecided on taking anotherstep with the Kuwait As-sociation for Care of Chil-dren in Hospitals (KACCH)foundation in support-ing the Fund Raising andAwareness Campaign forBayt Abdullah Childrens

Hospice. The main purpose

for this campaign is to en-courage the participationand involvement of everyindividual, company, orga-nization and institution tomake Abdullahs and otherchildren with terminal con-ditions, dreams come true.

Mr. Hamad Musaed AlSayer, Managing Directorof Al Sayer Franchisingcommented: Caribou Cof-fee being profoundly inte-grated in the Kuwaiti cul-ture had no better choicethan sponsoring KACCHfoundation to give back toour community.He added: Bayt Abdullahis dear to our hearts weare behind it to the endand cant wait seeing itcompleted to give the bestcare needed to our chil-dren in need. This projectis truly a manifestation of

humanity.

Mr. Boulos Younes, GeneralManager of Caribou CoffeeMiddle-East added: Spon-soring projects like BaytAbdullah is an essentialpart of our companys corevalues which are foundedon the socially responsibleprinciple of giving back tothe community.

Caribou Coffee (CBOU),founded in 1992, is theleader in gourmet coffee-housesin the world, and secondlargest based on numberof coffeehouses. In No-vember 2005, Al SayerFranchising Co. launched

the rst Caribou Coffeeshop outside the UnitedStates, in Kuwait.

Today, Caribous successhas carried it to 28 lo-cations in Kuwait, 25 inU.A.E, 8 in Bahrain, 2 inJordan, 2 in Qatar, 2 inKSA, 1 in Oman and 1 in

Lebanon with a plan toopen more in the Middle-East in the years to come.Living its mission state-ment of creating an expe-rience that makes the daybetter, for coffee lovers,it seems Caribou Coffee isnow gearing to make surethe days of children atBayt Abdullah will indeed

be better.

Business Bytes

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ydubai strengthenspresence in Kuwait

ydubai, Dubais rst lowcost airline, has ofciallylaunched its ofces inKuwait in an effort to re-inforce its presence andstrengthen its commitmentto the market. Speakingat the launch of ydubaisofce in Kuwait City, which

was attended by dignitar-ies from Kuwait and theUAE, Ghaith Al Ghaith,CEO of ydubai, said: Weare delighted to be ableto open our rst ofce inKuwait. It is important tous to establish ourselvesin the market with theright kind of partner andin Barakat Travel we arecondent we will be able toenjoy a successful futurein Kuwait.

Tayseer Barakat, Presidentof Barakat Travel, wel-comed the ofcial delega-tion, which comprised HEJamal Al Hai, Senior VicePresident of Dubai Airports

and Federal National Coun-

cil Member, HE Hussain AlShafar, Federal National

Council Member, HE Dr.Sultan Al Moadhen, FederalNational Council Member,HE Hasan Salem Al Khayy-al, UAE Ambassador toKuwait, and said:

ydubai is an importantaddition on the Kuwait-Dubai route and one whichwill create stability of

prices and provide optionsand added conveniencefor the traveler. We salutethe Government of Dubaifor creating this wonderfullow cost airline and lookforward to working withydubai and the travelagents in Kuwait to ensurethis route is a success.

Mr. Monzer Najia, CEO ofBoodai Aviation, spoke onbehalf of the travel agents.He added his welcome tothe delegation, and com-mented: We are excitedthat ydubai will operatetwice daily ights fromKuwait to Dubai and hopethat further frequencies

will be added in the future.

We are committed to play-ing our part in the devel-opment of this route andwish ydubai every suc-cess for the future.

Established in March 2008with start-up capital ofAED 250 million, ydubaiis Dubais rst low cost air-line. Owned by the govern-ment of Dubai, the airlinesupports the citys com-mercial and tourism sec-tors by serving all travel-ers, providing them with

affordable air links to arange of destinations.

With ydubai, travellerscan take 1 piece of handbaggage (weighing up to10 kg) no larger than 56cm x 45 cm x 25 cm onboard without charge. Ifthe bag does not meet the

cabin requirements, it willbe checked into the aircrafthold at a cost of AED 150.For a little extra, passen-gers can check a bag. Eachbag purchased can holdup to 32 kg and not largerthan 90 cm x 75 cm x 43cm. If customers want totake more, an additionalbag can be purchased,subject to availability.

Based on a low cost busi-ness model, ydubai offersa value-for-money productat an extremely com-petitive price. Its website(www.ydubai.com)will be an important in-terface for customers and

travel partners.

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Qatar Airways wins threeprestigious industryawards

Qatar Airways recentlyclaimed key international

awards by winning threeaccolades at two glitter-ing award ceremonies inDubai. The Doha-basedcarrier retained its Lead-ing Business Class Airlinein the Middle East title asvoted by travel industryprofessionals in the presti-gious World Travel Awards,an honor that the airline

has now held for ve con-secutive years.

The airlines innovativeexclusive Premium Ter-minal for First and Busi-ness Class passengers atDoha International Airportwas named Leading Air-port Lounge in the Middle

East. The two awards werepresented at a ceremonyheld at The Address inDubai Marina where ac-claimed internationalsinger Nancy Ajram wasthe star performer of thenight.

At a separate ceremony

organized by BusinessTraveller Middle East fortravel industry profession-als held at the JumeirahEmirates Towers Hotel,Qatar Airways took homethe airline award for BestEconomy Class in theMiddle East for the secondyear running. Readersof the monthly magazine

based their voting on cabin

comfort and inight ser-vice. The airline, which of-fers superior space with anEconomy seat pitch of upto 34 inches above theindustry norm recentlybegan introducing seat

back entertainment acrossits cabins on the new Air-bus A320 family of aircraft.The British Embassy Con-sul General in Dubai GuyWarrington presented theevenings awards and thelatest accolades dem-onstrate Qatar Airwayscommitment to offering

the travelling public withunrivalled levels of inightservice.

Qatar Airways Chief Execu-tive Ofcer Akbar Al Bakersaid: Most airlines investheavily in developing theirpremium cabins and, whilewe continue to do this,Qatar Airways strives toinnovate in Economy Classensuring our high stan-dards are maintained andpassenger expectationsare exceeded worldwide.More than 400 leadinggures from across theregional and internationaltravel and tourism industryattended both events.

Al Baker added: Winningthe Leading Business Classcategory ve years in arow and Leading AirportLounge once again provesthat we have an outstand-ing product, which con-tinues to convince travelindustry professionals andour customers year on

year.

These are great achieve-ments for the airline andshow that we clearly de-liver an ultimate inightexperience which our cus-tomers appreciate. Our ex-clusive Premium Terminal

is the worlds only dedi-cated commercial passen-ger terminal for First andBusiness Class passengers and winning again justfour years after its openingreects the importance weplace on service delivery.Our passengers travelingin Economy also have an

unrivaled experience andwe are extremely delightedto have won over the trav-eling public for our highservice standards in theEconomy cabins.

The World Travel Awardswere conceived in 1993 toacknowledge and celebrateexcellence in the worldstravel and tourism indus-try. Now in their 17th year,travel professionals anddiscerning travelers havecome to regard the WorldTravel Awards as the verybest endorsement that atravel product can hope toreceive. Dubai-based Busi-ness Traveller Middle East

is a prestigious monthlytravel magazine, part ofa global franchise of simi-lar publications worldwidededicated to frequent trav-elers. Qatar Airways cur-rently operates a moderneet of 82 aircraft to 89 di-verse cities across Europe,Middle East, Africa, Asia

Pacic and North America.

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Flex Resorts unveils sum-mer surprises

Flex Resorts in Kuwaitproudly unveiled its newand exciting summer campfor children at the Flex An-gels Academy. With a widevariety of sports activitiesand fun-lled educationalprograms the Academywill provide an engagingand challenging environ-ment for the little children.Situated in Bneid Al Gar,the summer camp at FlexAngels Academy offers

kids an all-rounder agendadesigned to provide a richlearning experience involv-ing group activities and in-terpersonal skills that helpin developing self con-dence and character in aprofessionally monitoredsocial setting.

Flex Resorts top priority isto keep children engagedwith its fun-lled activities.With summer holidays onthe brink, and consider-ing Kuwaits low activityrate during the season,

Flex brings a full-edgedsummer camp tailored forchildren to indulge in. It isthe organizations aim tomotivate the younger gen-

eration towards a healthylifestyle combined with anintellectual active mindand to instill healthy livinghabits from a younger age.With the ability and fa-cilities to provide a uniqueand exclusive experience,Flex Resorts houses amulti-level fully equipped

and state-of-the art facilitywhich incorporates all theactivities lined up on theagenda for the summercamp under different clubsand services.

Specically tai-lored for chil-dren from 18-23months, the pro-

gram is focusedon nurturingwhile developingself condenceand encourage-ment to discoverthe world aroundthem as they willfocus on enhanc-ing social and

motor skills.

Children from 2-4 yearswill get to experience amultilingual Montessoribased curriculum with les-sons delivered in Arabic,

English and French.

Apart from the club fa-cilities which include twoswimming pools to buildtheir swimming skills andwater condence there isalso a 12 meter tall climb-ing wall, one of the mostpopular sport among kids!

Moreover, a whole oor isdevoted to children ac-tivities-Kids Athletic Clubgames include, basketball,soccer, gymnastics, hiphop dance, sand play anda bowling alley.

In addition to the above,the Kids Athletic club of-fers complete sports skills

development experiencewhich caters to the kids fo-cusing on the developmentof their body control, bal-ance, coordination, speedand condence. And not toforget, our very own littleDashing Diva; Flex Resortsplace for young girls to goand have their nails done.

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IWC SCHAFFHAUSENboutique opens in Kuwait

Morad Yousuf Behbehanitrading division recentlyopened the rst IWCSCHAFFHAUSEN boutiquein Kuwait at the dynamic360 MALL. Redeningluxury shopping withinKuwait, the opening of thenew outlet at the 360 Mall,marks Kuwait as one of therst premier markets thatoffer end consumers withthe complete IWC SCHAFF-HAUSEN experience which

can only be performed inthe hands of its sales con-sultants.

The IWC SCHAFFHAUSENboutique will provide watch

enthusiasts not only withthe nest engineered time-pieces, but also with atruly emotional experienceand rst class service.

With its 141-year history,

IWC SCHAFFHAUSEN isone of the pioneers of theSwiss watch industry anda highly emotional brandwith an exciting and fast-changing corporate history.The founder, the AmericanFlorentine Ariosto Jones,had the vision in 1868 ofusing Swiss horologicalcraftsmanship to producehigh-quality pocket watchmovements for the Ameri-can market. In a locationnot far from the Rhinefalls, the young manufac-turer utilized the energy

of the river for its modernproduction, bringing abouta horological revolution toSwitzerland.

These roots and the de-velopment of the brand

make afascinat-ing com-

bination.A passionfor bril-liant in-ventions,technicalrene-mentsandhorologi-cal mile-stonesare, andalwayswere, the

drivingforce behind the engineersat IWC SCHAFFHAUSEN.Men with a air for tech-nology and a taste fordiscreet luxury choose our

haute horlogerie products,

to say nothing of our spe-cialty products.

The ingenieur line and ourwatches for divers and pi-lots with their professionalfeatures and functions, onthe other hand, are thefavorites of sportsmen, ad-venturers and people whoare looking for a robustand dependable timepiecewith an attractive designfor everyday use.

IWC SCHAFFHAUSEN iscommitted to several social

responsibility projects suchas: The Charles DarwinFoundation in the Galapa-gos Islands, for the protec-tion of endangered spe-cies; the Laureus Sport forGood Foundation, to helpchildren in need to improvetheir life through sport;the Saint Exupery Founda-

tion for children educationand the adventure ecologyand its Plastiki Project forthe Cousteau Society.

Philips revolutionizes LEDlighting

During this years Light +Building, the worlds lead-

ing lighting and architec-ture fair, Philips underlinedits global leadership inlighting by substantiallybroadening its portfolio ofLED-based lighting solu-tions that enhance thelives of people in homesand cities.Leveraging the fairs plat-

form Philips launched itsmarket-leading innovative

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portfolio of LED lightingsolutions for consumersand professionals to makehomes and cities more en-ergy efcient, including abreakthrough 12 watt LEDlamp as a substitute for a

60 watt light bulb.

Other innovative productslaunched at the fair in-cluded: LivingAmbiance,a revolutionary concept tomood creation that inte-grates multiple luminariesat home through a wirelesssystem. Using a simple

remote controlthe system en-ables a roomsambient light-ing to reectthe mood oroccasion. Liv-ingAmbiencealso incorpo-rates Philipslatest genera-tion of Living-Colors, the ac-claimed rangeof consumerluminarieswhich enable thousands ofcolors to be chosen at thetouch of a button.The new-shape range ofLivingColors colored and

white light luminaries buildon this proposition by add-ing adjustable and dim-able white light for dailyactivities as well as offer-ing more possibilities forambiance creation.

Philips recognizes and un-derstands the fundamental

changes taking place in

the world today, saysRudy Provoost, CEO ofPhilips Lighting and amember of the board ofmanagement of RoyalPhilips Electronics.Lifestyles are changing,urbanization is present-ing new challenges for cityleaders, and society ingeneral is more environ-mentally aware. We areapplying the functional andcreative potential of LEDlighting to address thesetrends, and to simply en-hance life with light.

As LED technology opensup the application of archi-tecture and design in homelighting, Philips will intro-duce a collection of homeluminaries at the cutting-edge of contemporaryinterior design. Three newproduct families - Lirio byPhilips, Arcitone and Ledi-no - each enable consum-ers to express themselvesby applying the designexibility of LED lightingwith bold new forms, ma-

terials and nishes.

As increased urbanizationpresents new challengesfor cities to provide morelivable urban environ-ments, Philips is to drivethe appeal of LED in out-door lighting to help cit-ies improve road andpedestrian safety, reducenight-time light distur-bance and make signicantenergy savings. During2010 Philips will introducea new range of outdoorluminaires all built aroundLEDGINE, a future-proofedand fully upgradable plat-

form for out-door luminariesWith legisla-tion to phaseout older, inef-cient lightingtechnologies,Philips willcommerciallylaunch the rst

ever high-quality 60watt-equivalentLED replace-ment lamptowards the

end of 2010. The dim-able12-watt bulb will deliveran industry benchmark806 lumen of comfortable,warm white light, comply-ing fully with Europeanperformance norms forreplacement lamps. Forbusinesses such as hotels,replacing high concentra-tions of 60 watt lamps withPhilips LED replacementsolution will potentiallyhelp them save up to 80percent of the energy used

earlier.

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The Pareto Principle also called the 80/20 Rule, is named afterItalian economist, sociologist, industrialist and philosopher

Vilfredo Federico Damaso Pareto. In 1906, while a lecturer ineconomics at the University of Lausanne in Switzerland,

Vilfredo noted the great inequality in the distribution of wealthin society.

Pareto Principle

8020

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Vilfredo published hisndings on the cor-relation between

distribution of land andland ownership in Italy ina book which showed that80 percent of the land in

Italy was owned by just20 percent of the popula-tion. Pareto claimed thatthis 80/20 distributionof wealth was repeatedthrough any human so-ciety, in any age, or anycountry.

In 1940, American busi-

ness management pioneerand quality proponent,Dr. Joseph M Juran, recog-nized a universal principlefrom which he derivedthat, which he then de-rived that 20 percent ofsomething was always re-sponsible for 80 percent ofthe results. Applying thisprinciple as an effectivetool in business manage-ment, Juran summarizedit as the vital few andtrivial many. In Juransinitial work he identied20 percent of the defectscausing 80 percent of theproblems. Today, ProjectManagers know that 20percent of the work (the

rst 10 percent and thelast 10 percent) consume80 percent of their timeand resources.

Pareto Principle has beenapplied to observation ina variety of elds fromhuman developmentalbiology to more mun-

dane matters as meeting

your friends or selectingclothes. You can apply the80/20 Rule to almost any-thing: For instance, duringthe human gestation pe-riod, the critical early em-bryonic development takes

up 20 percent of the timewhile the remaining 80percent is devoted to fetaldevelopment.

In everyday life, we tendto spend 80 percent of ourtime with 20 percent ofour friends; wear 20 per-cent of our wardrobe items

80 percent of the time.In business, you know 20percent of your stock takesup 80 percent of yourwarehouse space and that80 percent of your stockcomes from 20 percentof your suppliers. Also 80percent of your sales willcome from 20 percent ofyour sales staff. 20 percentof your staff will cause 80percent of your problems.And, it works both ways,another 20 percent of yourstaff will provide 80 per-cent of your production.

In a further afrmationof the Pareto Principle, aUnited Nations Develop-

ment Program report in1992 showed that the dis-tribution of global incomeis very uneven, with therichest 20 percent of theworlds population control-ling 82.7 percent of theworlds income. A furtherdissection of income in-equality reveals that of the

top ten wealthiest individu-

als in the world, top threeown as much as the nextseven put together.

The Pareto Principle hasbeen generalized to statethat, for many events,

roughly 80 percent of theeffects come from 20 per-cent of the causes. Butthe Pareto Principle is alsooften misquoted. For ex-ample, it is mistake toassume that a solution toa problem ts the 80-20Rule just because it ts80 percent of the cases; it

must be implied that thissolution requires only 20percent of the resourcesneeded to solve all cases.It is also a misuse of the80-20 Rule to interpretdata with a small numberof categories or observa-tions. 80/20 Rule shouldonly be regarded as short-hand for the general prin-ciple at work.

The value of the ParetoPrinciple lies in remindingus to focus on the 20 per-cent that matters. Of thethings you do during yourday, only 20 percent reallymatter. Those 20 percentproduce 80 percent of your

results. Identify and focuson those things. When thedaily grind of work beginto sap your time, remindyourself of the 20 percentyou need to focus on. Ifsomething in the schedulehas to slip, if somethingis not going to get done,make sure it is not part of

that 20 percent.

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Dot com may be the

most popular ofthose three little

fragments that helpedreshape the world, but therst registered name oc-curred without fanfare. Acomputer manufacturerbased in Cambridge, Mas-sachusetts called Symbol-ics, Inc. was the rst to

stake a claim in .com onMarch 15, 1985. What fol-lowed was hardly a goldrush: that year only veother companies signedup for a name.

At the time, the Internetwas largely a project forcomputer scientists anduniversities who wanteda way to communicate.As more and more peopleand institutions discoveredthe growing network thatwas set up by the DefenseDepartment, it became in-creasingly shabby place.

The early history of theInternet is peppered with

stories about the difcultyof sending an email. Oneof the challenging thingsin the 1980s was gettingmail from one network toanother. Figuring out howto manually route throughgateways was somethingof a black art and oftennot ofcially sanctioned.

As mail loads got heavier,

sometimes postmasters

would ask for people tostop using their connec-tions.

The need for some sortof organizing principlesbecame more and moreapparent as more enti-ties connected into theedgling Internet. Bringing

order to the increasinglychaotic universe fell to thelegendary Jon Postel andhis colleagues at the Uni-

versity of Southern Califor-nias Information SciencesInstitute.

Postel who was called theKing of the Internet be-came the request for com-ment (RFC) editor in 1969.As RFC editor, Postel and

his colleagues personallyshaped the Internet as weknow it today. In October1984, RFC 920 on the re-quirements of establishinga new domain in the ARPA-Internet and the DARPAresearch community waspublished, setting thestage for the birth of .com.

25 years of dot (.)com

While we know that therst .com was assigned tosymbolics.com on March15, 1985, the genesis of

.com is less clear.

While we know that the

rst .com was assigned tosymbolics.com on March15, 1985, the genesis of.com is less clear. Accord-ing to Craig Partridge,chief scientist at RaytheonBBN Technologies, thename for domains evolvedas the system was created.At rst, .cor was proposed

as the domain for corpora-tions, but when the nalversion came out it wasswitched to .com. Like-wise, .org was originally.pub and .mil was origi-nally .ddn. Other domainsthat came into being atthe same time as .comwere .edu, .gov, .net and.arpa.

Jack Haverty, anotherInternet pioneer who wasat MIT at the time, saidthey were not really think-ing about business whenthey were developing thetop-level domains. I think.com originally was derivedfrom company rather

than commercial. The.coms werent thoughtof as businesses in thesense of places that con-sumers go to buy things,he wrote in an email.They were companies do-ing government contractwork. The Internet wasnot chartered to intercon-

nect businesses it was

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a military command-and-control prototype network,being built by educational,governmental, and con-tractors.

Since most of the In-ternets pioneers wereinvolved in educationalinstitutions, the militaryand government, it wouldexplain why the other top-level domains seem moreintuitive. Since what would

become the Internet wasnot set up to do business,and the prot-motive wasnot ofcially sanctioned,Internet pioneers did notnaturally think about a .bizor something else. Still,they seemed to under-stand that some kind ofcommerce was coming.

But to say that .com took

some time to take off is anunderstatement. Two anda half years after the rstregistration, only 100 total.com domains existed.Among the early adoptersincluded IBM, Intel, AT&Tand Cisco. By 1992, therewere still less than 15,000.com domains registeredand the million-domainmark wasnt crossed until1997, well into the Inter-net boom.

Then came the .comboom, with nearly 20million names registeredin the next two years. Italso ushered in somethingtermed cyber-squatting,where domains of famouspeople or companies wereregistered in hopes of get-

ting a hefty sum to sell it.

Nations implemented lawsto combat cyber-squatting,and the entertainer Ma-donna won a notable casein 2000 to get control ofmadonna.com.

The burst of the .combubble cooled off the rap-id growth for a short pe-riod, and since then .comhas grown at a steadyrate, with now more than80 million domains. Yet,some of the most popularwebsites today were reg-istered late into the .com

era. Youtube.com, for ex-ample, was not registereduntil 2005. Twitter.comwas also registered af-ter the .com boom. WhileSymbolics the company didnot fare well, symbolics.com remains as the oldest.com and was purchasedby Aron Meystedt, ownerof XF.com in 2009.

Today, .com is an inte-gral part of a technologyboom that reshaped theway people work, live, playand connect with familyand friends. Much to theamazement of its creators.I dont recall anybodyever thinking we were

creating an organizationalstructure to encompasshundreds of millions ofentities covering the en-tire planet in support of allhuman activities, Havertyexplained in another email.And it certainly wasntsupposed to last for 30+years; it just happened to

turn out that way.

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The question manypeople have begunto ask is how worthy

is the paper buck, storedin the form of trillionsof dollars of foreign cur-rency around the worlde.Read on to nd out. Theforeign currency depositsand bonds held by a coun-

trys Central Bank or othermonetary authorities arereferred to as the its for-eign exchange reserves.This is different from inter-national reserves, whichin addition to the foreignexchange reserves alsoincludes gold reserves, In-ternational Monetary Fundreserves and other drawing

rights held by a country.

The foreign currency re-serves of the central bank,often held in US dollar,and to a lesser extent ineuro, UK pound and theJapanese yen, support thebanks liabilities, includinglocal currencies issued and

the various bank reservesdeposited with the CentralBank, by government ornancial institutions. For-eign exchange reservesare important indicatorsof ability to repay foreigndebt and for currencydefense, and are used todetermine credit ratings of

nations.

Central banks around theworld cooperate in buyingand selling ofcial inter-national reserves in orderto inuence its exible orxed exchange rate poli-cies. A central bank with axed exchange rate policymay face a situation wherean increase in demand for

the currency would tendto push its value higher,and a decrease in demandwould lower its value. In aexible exchange rate re-gime, these operations oc-cur automatically, with thecentral bank clearing anyexcess demand or supplyby purchasing or sellingthe foreign currency.

Large foreign currency re-serves allow a governmentto manipulate exchangerates - usually to stabilizethe foreign exchange ratesto provide a more favor-able economic environ-ment. Also, the greater acountrys foreign reserves,

the better position it isin to defend itself fromspeculative attacks on thedomestic currency.

However, there are costsin maintaining large cur-rency reserves. Fluctua-tions in exchange marketsresult in gains and losses

in the purchasing power of

reserves. Even in the ab-sence of a currency crisis,uctuations can result inhuge losses. For example,China holds huge U.S.dollar-denominated assets,but if the U.S. dollar weak-ens on the exchange mar-kets, the decline results ina relative loss of wealth for

China. In addition to uc-tuations in exchange rates,the purchasing power ofat money (state-issuedmoney which is neitherlegally convertible to anyother thing, nor xed invalue in terms of any ob-jective standard) decreas-es constantly due to deval-uation through ination.

Therefore, a central bankmust continually increasethe amount of its reservesto maintain the same pow-er to manipulate exchangerates. Also, reserves offoreign currency providea small return in inter-est. However, this may be

less than the reduction inpurchasing power of thatcurrency over the sameperiod of time due to ina-tion, effectively resultingin a negative return knownas the quasi-scal cost.In addition, large currencyreserves could have beeninvested in higher yielding

assets.

Buckling Paper Buck

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The British act of parlia-ment that introduced thegold bullion standard in1925 simultaneously re-pealed the gold speciestandard. The new goldbullion standard did not

envisage any return to thecirculation of gold speciecoins. Instead, the lawcompelled the authori-ties to sell gold bullion ondemand at a xed price.This gold bullion standardlasted until 1931.

In 1931, the United King-

dom was forced to suspendthe gold bullionstandard due tolarge outows ofgold across theAtlantic Ocean.After WorldWar II, a sys-tem similar to aGold Standardwas establishedby the BrettonWoods Agree-ments. Underthis system,many countriesxed their exchange ratesrelative to the U.S. dol-lar. The U.S. promised tox the price of gold at $35per ounce. Implicitly, then,

all currencies pegged tothe dollar also had a xedvalue in terms of gold.

However, under the re-gime of the French Presi-dent Charles de Gaulle, upto 1970, France reducedits dollar reserves, trad-ing them for gold from the

U.S. government, thereby

reducing U.S. economicinuence abroad. This,along with the scal strainof federal expendituresfor the Vietnam War, ledPresident Nixon to endthe direct convertibility of

the dollar to gold in 1971resulting in what is com-monly referred to as theNixon Shock.

In theory the manipula-tion of foreign currencyexchange rates can pro-vide the stability that agold standard provides,

but in practice this has not

been the case. Previously,before the Bretton Woodssystem when the US dol-lar began to function as areserve currency, ofcial

international reserves, themeans of ofcial interna-tional payments, consistedonly of gold, and occasion-ally silver.

From 1944-1948 the USdollar was convertibleinto gold from the FederalReserve System, but after

1968 only central banks

could convert dollars intogold from ofcial goldreserves, and after 1973,no individual or institutioncould convert US dollarsinto gold from ofcial goldreserves. And since 1973,

no major currencies havebeen convertible into goldfrom ofcial gold reserves.Even though US dollarsand other currencies areno longer convertible intogold from ofcial goldreserves, they still func-tion as ofcial internationalreserves and allow central

banks to stabilize the valueof domestic cur-rency.

At the end of2004, centralbanks and in-vestment fundsheld 19 percentof all above-ground gold asbank reserveassets. It hasbeen estimatedthat all thegold mined by

the end of 2009 totaled165,000 tonnes. At a priceof US$1000 per ounce, ex-ceeded in 2008 and 2009,one tonne of gold has a

value of approximately USdollar 32.15 million. Thetotal value of all gold evermined would not exceedUS$5 trillion at that valua-tion.

And yet, according to a re-cent Reuters report citingU.S Treasury Department

sources, global foreign cur-

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rency reserves swelled to$8.1 trillion by the end of2009.

This gure, recently re-leased as part of the long-awaited report by the

Treasury to the Congresson exchange rate policies,more than covered theamount that was pulledout during the recent glob-al economic throes. Anddespite China interveningheavily in the foreign ex-change market from Feb-ruary to December 2009,

to hold its yuan peggedto the Dollar, the TreasuryDepartment once againdeclined to label Beijing acurrency manipulator.

Not surprising seeing howin the same period Chinaboosted its holding ofDollars by $487.1 billion,more than six times therise of any other country.Before the worst phase ofthe nancial crisis in 2008,global reserves had peakedat $7.2 trillion. BetweenJuly 2008 and February2009, they declined by5.8 percent, largely as aresult of countries effortsto stem currency deprecia-

tion.

Some countries also useda portion of their reservesto fund stimulus programs.Russias reserves showedthe biggest decline, drop-ping $120.1 billion over aseven-month period. Near-ly all major reserve-hold-

ing economies resumed

building stockpiles startingin February 2009.

For a few countries, mostnotably China, the increasein reserves was associ-ated with a decline in the

nominal effective exchangerate, indicating that re-serve accumulation mayhave been used to preventexchange rate apprecia-tion, the Treasury said.There are no hard andfast rules for how mucha country should hold inreserves. Commonly-used

benchmarks include a suf-cient amount to coverexternal debt comingdue within 12 months, orenough to cover three tofour months of imports.

Treasury said Chinas re-serves alone would coverthe short-term debt of the12 largest reserve-holdingemerging markets and stillbe above adequacy bench-marks.

Countries hold reservesfor a variety of reasons,including for day-to-daytransactions like debt re-payment. Countries suchas China with pegged ex-

change rates need to holdreserves to offset down-ward pressure on theircurrencies.

Some governments alsohold reserves as a formof self-insurance againstsudden loss of investmentows that could cause a

nancial crisis.

According to Treasurysgures, Chinas reservesas of December 2009 to-taled $2.4 trillion, up 2.3percent since February ofthat year. Japans were$997 billion, up 0.2 per-

cent since February. Russiaand Saudi Arabia each heldnearly $400 billion.By H1 2010, the followingcountries held more than60 percent of the totalworld foreign currency re-serves.

China with 2454 billion

topped the list followed byJapan with 1019bn, Eu-rozone with 716bn, Rus-sia 456bn, ROC (Taiwan)362bn, India 283bn, SouthKorea 271bn, Switzerland262bn, Brazil 257bn, HongKong 240bn and Singapore203bn. The adequacy ofthe foreign exchange re-serves is more often ex-pressed not as an absolutelevel, but as a percentageof short-term foreign debt,money supply, or averagemonthly imports.

While the gold reserve isthe gold held by a centralbank or nation intendedas a store of value and as

a guarantee to redeempromises to pay deposi-tors, paper money hold-ers, or trading peers, or tosecure a currency.

Today gold reserves arealmost exclusively, al-beit rarely, used in thesettlement of international

transactions.

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Celebrating its 90thanniversary in 2009,

Jashanmal is syn-onymous with quality retailaround the Middle-East.Founded by the late RaoSahib Jashanmal whocame from India andlaunched his general storein Iraqs port city of Basrain 1919 the JashanmalGroup is now run by the

fourth generation.

What started out as aone-store outlet sellinghousehold goods, mensclothing, stationery, booksand newspapers in Basrahas grown to become aretail and wholesale behe-moth with branches spread

across the region.

The group, which is a bigname in retail and whole-sale business in consumergoods in the region, issteeped in history begin-ning when the British con-trolled most parts of anunderdeveloped ArabianGulf, and there were more

sand dunes than people. It

was also a time when cam-els and bandits roamedfreely and oil, which laterbrought immense riches tothe land, had not yet beendiscovered.

When the Jashanmals rstcame on the scene, Indiantraders were spread all

over the Gulf region, buy-ing pearls from Arab mer-chants in return for justabout everything that astarved land and its peoplerequired. Ships from In-dia ferried in people andMade in England goods,making stops at Basra,Kuwait, Dubai and Bahrainbefore returning to Bom-

bay (now called Mumbai).

It was apparently a 21-daytrip. Later, planes beganlanding on sandy stripsunseen from the skies,bringing intinned food,shoes,clothes

and otherluxuryitems thatthe colonialrulers andthe localsneeded.

Rao Sahibtook advan-

tage of thechanging

times and opened a gen-eral store in Kuwaits SafatSquare in 1934, his rstventure out of the seclud-ed connes of Basra. Thesquare was then the des-tination of camel caravansfrom Saudi Arabia. Vintagepictures show the Jashan-mal store surrounded by

bored-looking camels andtheir shabbily-dressed,tired drivers.

After Kuwait, growth camerapidly. Rao Sahibs sons-- Narain, Atma, Hiro andlater Mohan -- took overand began expanding thebusiness into other partsof the region. The busi-

ness moved into Bahrain-- which then was the onlydestination of British Air-ways in the region -- Dubaiand nally Abu Dhabi,where the youngest broth-

Jashanmala 90-year retail history

Vintage photo: Jashanma Kuwait

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er Mohan arrived in 1964to open an outpost on thebeach.

At the time, Abu Dhabi,says Mohan, had no roads,a few buildings and a lot of

tents. There was no po-table water or electricity.When Mohan arrived therewith his Boston-educatednewly-wed wife, she won-dered whether they weregoing to crash when shesaw the wide expanse ofsand below. The Jashan-mals have seen the emir-

ate grow and they havegrown with it.

Rao Sahib made the re-gion his home. The busi-ness in Basra was closedin the late 1950s when theHashemite monarchy wasoverthrown in Iraq andit became difcult to im-port goods from the West.Since then, the group hasfocused on the Gulf region-- except Saudi Arabia-- and today runs storesand franchise shops inthe United Arab Emirates,Kuwait, Bahrain and Omanthat sell pens, cameras,luggage, fashion acces-sories, books, magazines,

newspapers, giftware,household and kitchen ap-pliances, and crystal ware.The rm has some of thebiggest global brands in itsstable and employs morethan 1,000 people.

Research shows that acompanys performance

usually slips once the

founders vision is dilutedby second- or third-gen-eration descendents. Themain issue is one of suc-cession and how familiesmanage succession, saysWharton management pro-

fessor Raf Amit.

The Jashanmals are dif-ferent. Founder Rao Sahibretired in 1973, leaving thebusiness to his ve sons -one of whom later chose togo his own way. The busi-ness has only grown sincethen, as the Jashanmals

have remained involved inthe company from a dis-tance, letting professionals

run the day-to-day opera-tions.

Despite research ndingsthat family-run compa-nies are a better bet forall stakeholders as long asthe founder of the rm is

involved as chief executiveofcer or chairman, theJashanmals say the busi-ness has lasted well intothe fourth generation be-cause family elders under-stood very early on that togrow, they needed to stepinto the shadows and handover management to pro-

fessionals.

The desire of every per-son who starts a businessis to see it grow so that hecan leave something forhis descendents. It works

well for two generations. Itis the transformation fromthe second to the thirdgeneration when [the rm]either breaks up, or someprofessional structure hasto be formed for it to last,notes Tony Jashanmal, RaoSahibs grandson and cur-rently the executive direc-

tor of the Group.

The multifold growth maynot have been possible ifthe family had not decidedto step away from day-to-day operations, they main-tain. The process began instages. After Rao Sahibsretirement, the group con-tinued to be run as a tradi-tional family business.

Later, the family decidedto turn the business intoa shareholding companyequally divided betweenthe four brothers. [Familymembers] who worked forthe company received sal-aries and dividends; those

who didnt got only the

Tony Jashanmal - Executive

Director - Jashanmal Group

The desire of every per-son who starts a businessis to see it grow so thathe can leave something

for his descendents.Tony Jashanmal

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Copenhagen 7 - 18 December, 2009

dividend. This was the rstact of discipline, statesTony, in a phone interviewfrom Kuwait.

In the early 1980s, whennew partnership laws wereintroduced in the region,the Jashanmals decided totake a step forward andoated a holding companyto accommodate familyand non-family partnerswith different sharehold-ing, a move that Tonycalls a jump into modern

times. A new entity --Jashanmal Holding -- wascreated, with a board ofdirectors and a chief ex-ecutive ofcer to run thebusiness.

Family members shouldnot be at the top of thecompany, Tony notes,

adding that while familymembers could work forthe company, they had tocome up from the bottomjust like other profession-als. That was one of thereasons why many familymembers did not stay.

The transition from afamily-run company to afamily-owned company

was shepherded by GanguBatra, the group presidentwho plans to step downafter 50 years with thegroup. For decades, hewas the public face of the

company and shepherdedrapid expansion in therms retail and wholesalebusiness, while also seek-ing other opportunitiesfor growth as consumersbegan spending more andplaces like Dubai becamemajor tourist and tradinghubs due to low customsduties.

Since 1980s, the Jashan-mal business has un-dergone a huge change-- expanding through jointventures and afliationsthat have allowed it tobecome leaner, and remainprotable even in the cur-rent troubled economic

times.Many businesses that theJashanmals once con-trolled directly, such asperfumes, are today man-

Gangu Batra - President -

Jashanmal Group

aged by joint venturepartners, ensuring that thegroup keeps reaping prof-its without the daily head-aches.The group does not have

plans to expand aggres-sively outside the region,however, not even in In-dia, where the Jashanmalsoriginally came from. Weare the most condent inthe GCC (Gulf CooperationCouncil) because we knowthis region the best. Wehave helped our principalsto get into India when theywanted to, Tony states.

At the same time, thegroup has chosen to stayout of the vast Saudi mar-ket -- the biggest in theregion -- because of thevarious market restrictionsthere. It, however hopesto be back in Iraq where it

started once the securitysituation there improves.I dont think you lose outif you are not the rst oneto enter, he says.

To succeed, Tony notes,family businesses need tomake the staff aware ofthe familys values, and

the beliefs on which thefounder based businesspractices. Many profes-sionals have a short-termview, but in family busi-ness they need to havea long-term view. Peopleneed to have more meet-ings, talk more. Thats whyyou need family membersto be around to emphasizethat point of view.

Family members shouldnot be at the top of the

company, Tony notes,adding that while familymembers could work forthe company, they hadto come up from the bot-tom just like other pro-

fessionals.

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Anew survey of seniorbusinesspeople bythe Economist Intelli-

gence Unit (EIU) nds thatdespite the countrys manypro9blems, investor per-ceptions of Iraq are slowlyimproving. Preliminaryresults from the EIU sur-vey of 300 executives allof whom have direct input

into their companys deci-sions on doing businessin the Middle East showthat the security situationremains the major deter-rent to business.Indeed, 64% said it is stilltoo dangerous to do busi-ness in Iraq at the presenttime. But more than half of

those surveyed said their

IRAQ - Business Perceptions

But more than half of thosesurveyed said their view of

Iraq has become more posi-tive over the past two years.

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view of Iraq has becomemore positive over thepast two years.

Moreover, most respon-dents expect the securitysituation for foreign ex-

ecutives and employees toimprove over the next twoyears, with 46% saying itwould improve somewhatand 9% saying it wouldimprove signicantly, de-spite the draw-down ofWestern troops. Just 10%expected it to worsen.Other key ndings include:

Iraqs capital holds greateconomic importance:Northern Iraq, where vio-lence has been limited, isthe region that investorsview the most favorably,with 46% of respondentsviewing it either highlyfavorably or somewhatfavorably, while 20% viewit unfavorably. Yet Bagh-dad, which has suffered farmore violence, is viewedalmost as favorably by re-spondents, 46% of whomsaid they viewed it eitherhighly favorably or some-what favorably illustrat-ing the economic impor-tance of the countrys

capital.

Sector analysis:43% saw construction andreal estate as the countrysmost promising non-hy-drocarbon sector, followedby consumer goods (23%),with healthcare and phar-maceuticals tying with

chemicals for third place

The most attractive aspect ofIraq as perceived by these ex-ecutives was unsurprisingly the countrys oil and gas re-

sources (cited by 56% as oneof the top three attractions).

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(18%) respectively. Media(4%) and retail (6%) wereseen as the least promis-ing sector.

A country with signicantopportunities:

45% of respondentsjudged that The ongoingviolence means doing busi-ness in Iraq will remain toorisky for some time. Butnearly as many 38% see Iraq as A country withsignicant opportunitiesfor those who are willing toaccept risks in the short-

term.

Increasedbusinessdependenton issue ofsecurity:40% of re-spondentsare notcurrentlyconsider-ing doingbusinessin Iraqbut woulddo so if circumstanceschange. Those who are notcurrently doing business inIraq emphasized that themost important factor in

their decision is security.

Violence possesses mostrisk to businesses:The top three risks to busi-ness were judged to beviolence (67%), corrup-tion (44%) and the lackof infrastructure (35%).The next three were bu-

reaucracy, lack of contractprotection and credit risk.

Iraqs attractive resources:The most attractive as-pect of Iraq as perceivedby these executives was unsurprisingly thecountrys oil and gas re-sources (cited by 56% as

one of the top three at-tractions). 18% also citedother natural resourcessuch as phosphates. Thesecond and third biggestdraws were the prospectsof the untapped consumermarkets and early-moveradvantage.

Opportunity to make highreturns:Among the 175 respon-dents who are doing orconsidering doing business

in Iraq, the top reasoncited was the opportu-nity to make high returns(49%), followed by the op-portunity to reach a largelyuntapped consumer mar-ket (38%).Taking advantage of oiland gas resource:

25% were attracted bythe opportunity to take

advantage of oil and gasresources, while another25% believed their com-pany was well-placed totake part in reconstruc-tion efforts. 23% cited thecountrys important strate-

gic location in the region,while 17% emphasizeda desire to participate inIraqs renewal.

Desire to renew Iraq:Among executives based inthe Middle East, 27% citeda desire to participate inIraqs renewal although

the oppor-tunities forreturns andfor reach-ing untappedconsumersremainedthe rst andsecond mostimportantreasons re-spectively.

The full re-sults of thesurvey also

included a detailed analy-sis of how businesses fromdifferent regions of theword perceive Iraq andwhat they believe should

happen politically.The complete ndings willform part of an extensivepiece of research into busi-ness perceptions of Iraq,including in-depth inter-views with key executives,which will be launched atEconomist ConferencesIraq Business and Invest-

ment Summit in Manama,Bahrain.

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The health benets ofdates are numerous,as this fruit is rich in

natural bers. These natu-ral products also containoil, calcium, sulfur, iron,potassium, phosphorous,manganese, copper andmagnesium which areadvantageous for health.Dates are even rich in sev-eral vitamins and minerals.It is said that one date isminimum requirement of abalanced and healthy diet.

It helps in ghting consti-

pation, intestinal disorders,weight gain, heart prob-lems, sexual weakness,diarrhea and abdominalcancer.

Health benets of dateshave made them the bestnourishment for muscledevelopment. People con-sume dates in severalways, like mixing the pasteof the dates with milk, yo-ghurt or with bread or but-ter to make the food tasty

and healthy. This paste is

benecial for both adultsand children, especiallyduring the time of recov-ery. According to mod-ern medicine survey, it isknown that dates are use-ful in preventing abdomi-nal cancer. It is also seenthat many Muslims breaktheir fast by eating datesand water according totheir traditions. Breakingfast with dates helps us toavoid overeating after thefast. When the body ab-

sorbs the nutritional val-

Dates an ideal food

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ue of the dates, the feeling

of hunger gets pacied.

Dates are termed as thecrown of sweets and idealfood which easily balancesand digests food. It givesextra energy to a tired hu-man body within half anhour after taking it. Datesare considered to be thebest diet for connementof the women. AmericanCancer Society recom-mends intake of 20-35grams of dietary ber ina day, supplied throughdates. It is said that tak-ing one date in a day willhelp you to maintain yourhealthy eyes for your life-time. They are quiet effec-

tive in guarding the nightblindness problems.

Benets of Dates:

Constipation: Date istermed to be a laxativefood. This is the reasonthat dates are benecialfor people suffering from

constipation. For getting

the laxative effect from

dates, you need to soakdates for one full night inwater. You should consumethese soaked dates in themorning like syrup to gettheir actual advantages.

Intestinal Disorders:The nicotine content that ispresent in the dates is saidto be benecial for curingany kinds of intestinal dis-orders. Continuous intakeof dates helps to maintaina check on the growth ofthe pathological organismsand thus, helps in the riseof friendly bacteria in theintestines.

Weight Gain: Dates are

said to be a part of healthydiet. They consist of sugar,fats, proteins as well asmany essential vitamins.If the dates are consumedwith the paste of cucum-ber, one can easily comeout from the problem ofover-slimming. One kilo-gram of dates contains al-

most 3,000 calories. These

calories alone are sufcientto meet the daily require-ments of a human body.

Heart Wealth: Dates arequite helpful in maintain-ing your heart in healthy

condition. When soaked forwhole night and crushedin the morning and con-sumed, they prove to bequite advantageous forweak hearts. They help tofortify heart, if taken twicein the week.

Sexual Weakness: Dates

are even benecial for in-creasing sexual stamina inthe human body. A hand-ful of dates, when soakedin fresh goats milk for thenight and then grinded inthe same milk with themixture of cardamom pow-der and honey, becomesa very useful tonic forincreasing sex enduranceand sterility due to func-tional disorders.

Diarrhea: Ripe dates con-tain potassium. Potassiumis benecial for controllingdiarrhea. They are easilydigestible, which helps tocope up with the problemsof diarrhea.

Intoxication: Dates areknown as an excellentremedy for alcoholic in-toxication. Dates providequick relief in the caseof alcoholic intoxication.They should be rubbed andsoaked overnight for get-ting more nutritious values

from them.

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Abdominal Cancer: Datesare benecial for curingabdominal cancer. Theywork as useful tonic for allage groups. They work asbetter as the medicines,and are natural and do not

bear any side effects in thebody. They can be easilydigested and used for sup-plying extra and neededenergy.Although dates carry tre-mendous nutritional val-ues, great care should betaken in their selectionbecause they consist of

sticky surface which at-tracts various impurities inthem. Hence, you shouldconsume only those datesthat are packed nicely.Make sure to wash themthoroughly before consum-ing. This will help to re-move the impurities pres-ent in them.

Date Recipes:

Date carrot cake:Ingredients2 cups our2 tsp. baking powder11/2 tsp. baking soda2 tsp. cinnamon1/2 tsp ground cloves1 tsp. salt

4 eggs2 cups sugar11/2 cups olive oil1 can 450g crushed pine-apple (well drained)1 cup walnuts (chopped)1 cup dates (chopped)2 cups carrots

Preparation

Sift together our, baking

powder, baking soda, cin-namon, cloves 1 and salt.Set aside. In large mixingbowl, beat the eggs andsugar thoroughly. Add theolive oil and mix well. Addthe sifted dry ingredients

to the batter and beat justuntil combined. Stir in thepineapple, walnuts, datesand carrots.

Spread batter in twogreased and waxed paperlined 25cm cake pans andbake at 160 degrees C forabout 45 minutes or until

cake pulls away from pan,and cool completely onwire rack.

Frosting1 pkg. 240g cream cheese(softened)1/2 cup butter (softened)1 tsp. vanillapinch of salt450g. confectioners sugar(sifted)

In large mixing bowl, beattogether cream cheese,butter, vanilla and pinchof salt until uffy. Gradu-ally add sifted confection-ers sugar and beat until

smooth. Frost Cake andrefrigerate.

Chewy Date Bars:Ingredients250g stoned dates, rough-ly chopped

75g demerara sugar60g plain our50g porridge oats4 tbsp vegetable oil1tsp baking powder1tsp mixed spice1tsp vanilla extract2 large eggs, beaten175g pecan nuts, roughlychopped

Icing sugar, to dust

Heat oven to 180C Placeall the ingredients in or-der into a bowl. Stir untilevenly mixed.

Pour into 15 cm tin but-tered and lined with greasepaper, level the top andput on the middle shelf for30-35 minutes or until thetop is rm and browned.Leave for 10 minutes, thenturn on to a wire rack tocool.When cold, cut into 12bars and dust with icingsugar.

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Beef SamosasIngredients2 large potatoes, peeled1 cup frozen peas, thawed2 tablespoons vegetable oil1/2 teaspoon cumin seeds1 bay leaf, crushed2 large onions, nelychopped1 pound ground beef4 cloves garlic, crushed1 tablespoon minced freshginger root1/2 teaspoon ground blackpepper1 1/2 teaspoons salt

1 teaspoon ground cumin1 teaspoon ground corian-der1 teaspoon ground tur-meric1 teaspoon chili powder1/2 teaspoon ground cin-namon1/2 teaspoon ground car-damom

2 tablespoons chopped

Random Recipes

fresh cilantro2 tablespoons choppedgreen chili peppers1 quart oil for deep frying1 (16 ounce) package

phyllo dough

PreparationBring a medium saucepanof lightly salted water to aboil. Stir in potatoes andpeas. Cook until potatoesare tender but still rm,about 15 minutes. Drain,mash together and setaside.

In a large saucepan overmedium high heat, heatthe oil. Brown cumin seedsand bay leaf. Mix in onionsand ground beef. Cookuntil beef is evenly brownand onions are soft, about5 minutes. Mix in garlic,fresh ginger root. Season

with black pepper, salt,

cumin, coriander, turmeric,chili powder, cinnamonand cardamom. Stir in themashed potato mixture.Remove from heat andchill in the refrigerator for1 hour, or until cool.

Heat oil in a large, heavysaucepan over high heat.

Mix cilantro and greenchili peppers into the po-tato and beef mixture.Place approximately 1tablespoon of the mixtureonto each phyllo sheet.Fold sheets into triangles,pressing edges togetherwith moistened ngers.

In small batches, fry un-til golden brown, about 3minutes. Drain on papertowels and serve warm.

Kofta KababIngredients4 cloves garlic, minced1 tsp salt500g ground lamb

3 tbsp grated onion3 tbsp chopped parsley1 tbsp ground coriander1 tsp ground cumin1/2 tbsp ground cinnamon1/2 tsp ground allspice1/4 tsp cayenne pepper1/4 tsp ground ginger1/4 tsp ground black pepper28 bamboo skewers,soaked in water for 30minutes

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PreparationMash the garlic into apaste with the salt usinga mortar and pestle or theat side of a chefs knifeon your cutting board. Mixthe garlic into the lambalong with the onion, pars-ley, coriander, cumin, cin-namon, allspice, cayennepepper, ginger, and pepper

in a mixing bowl until wellblended.

Form the mixture into28 balls. Form each ballaround the tip of a skewer,attening into a 2 inchoval; repeat with the re-maining skewers. Placethe kebabs onto a baking

sheet, cover, and refriger-ate at least 30 minutes, orup to 12 hours.

Preheat an outdoor grill formedium heat, and lightlyoil grate.

Cook the skewers on thepreheated grill, turning oc-

casionally, until the lamb

has cooked to your desiredpreference; about 6 min-utes for medium.

Umm AliIngredients5 packs puff pastry (200grams each)5 cups of milk2 tbsp granulated white

sugar3 tbsp brown sugar3 tbsp butter4 tbsp heavy cream1/2 cup golden/yellow rai-sons1/4 cup hazelnut crushedopen in half1/4 cup almonds,blanched,peeled andsplit open1tsp groundcinnamon2 tbspshreddeddry coconut

PreparationPlace puffpastry in

a baking

tray and bake slightly untilgolden brown in color. Donot burn.

Heat milk in a non stickpan and dissolve sugar.Add cinnamon and bring to

boil. Then set aside.The sweetness of the milkshould be a bit more thanyou like.Break the baked pastry ina 20x30 cm Pyrex add thealmonds, hazel nut andthen the milk.

Heat oven at 250 degrees

centigrade and bake thepastry, nuts and milk for15 minutes. If the pastryabsorbs all the milk, add abit more.

Remove the Pyrex fromthe oven and mix the but-ter and heavy cream to-gether and add on top ofthe desert. Sprinkle withdry coconut.Bake again for an addition-al 15 minutes.

If no golden crust devel-ops on top, then grill for 2minutes.Serve hot.

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ARIESOne-to-onelinking appealsto you morethan group ac-tivities or morecasual associa-tions. If single,

you are moreeager than usual to enter into adevoted relationship. In general,you are exible when it comesto your affections - very willingto negotiate and make harmony.You may have a greater thanbefore wish to rule the roost.Family-related conicts and dis-putes may arise; you may havearguments with them, aboutthem, or on their behalf. It couldalso happen that now youre sobusy working for others that youhave no time for yourself, in theprocess you miss out a lot ofgood things of life

TAURUSYou may bemaking changesin your job/pro-fession, in yourrelationshipswith colleagues,health and diet.There may besome mental strain, or perhapsnancial difculties. This phase

presents an opportunity to getrid of what doesnt work in yourlife, while also discovering whatdoes. You could seek distinctionand strive towards perfection inyour work. You have a tendencyto act and reect automati-cally, and you could come acrossas an open book now. Its afavorable time for solving prob-lems and to work on improvingyour skills.

GEMINIAfter a pe-riod of self-protectiveness,you are nowmore spon-taneous andmore willing

to take risks. Arich, fruitful and happy phasecomes to you and youre enjoy-ing it. Rashness in an affair ofthe heart might leave you hurtand scattered, if not shattered.At this time, you intuitivelyknow how to position yourself inthe best light in order to makea good impression on others.Financial conditions and relatedareas may see advances, witha boost in both resources andpossessions. You have moreoomph at your disposal to makemoney, but also to support yourideals in self condence.

CANCERYou are ableto stand yourground andassert yourselfmore than usu-al. You wantworking condi-tions that satisfyyou in every way, physically,technically and in the prevail-

ing atmosphere and will takepains to achieve just that. Thereis a marvelous closeness builtup with parents, older people,in-laws, who might not alwaysapprove of your eccentric andstrongly different opinions. Youwill do your best to make an im-pression and these attempts areeither assisted or challenged bythe circumstances in which yound yourself and by others

LEOAll your mentalactivity will beintensely per-sonal, subjec-tive and evenegocentric. Nocarelessness

of any kind to be made if youwant to achieve your goals. Youare more curious and alert thanusual, and you could be quitebusy with errands, paperwork,phone calls, and light socializ-ing. As a result, fresh acquain-tances and friendships come toyou, giving pleasure, inspirationand ideas. You are especiallygood at mediating conicts. Trysmoothing over differences us-ing your diplomacy skills. Be-ing clear-cut in your ideas andthis is a good time to scheduleinterviews, meetings and one tomany discussions..

VIRGOThe trulyintimate andpersonal you,needs to be ex-amined minute-ly and wherethere is roomfor improvement, positive ac-tion be taken. There is a certaindetermination building up within

you to alter not just your life orcircumstances, but practicallycast yourself in a new image.People could literally approachyou and appreciate you for whoyou are. A mood of elation sus-tains you even as people ques-tion your values and your abil-ity. The entire range from newcontacts and acquaintances, tolifetime ties and bonds like mar-riage, are all very important,

indeed.

Your Cosmic Calendar

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LIBRAYou are likelyto throw cau-tion to thewind, espe-cially whereboundaries be-tween fantasy

and reality can be blurred, sotread carefully. You will have asense of awareness of your ownlimitations this month, lead-

ing up to mid-month phase, bethey physical, emotional or evennancial. You want more thanwhat mundane reality offers,but perhaps too much. Avoidsecret dealings, especially theones that are not clearly legiti-mate and justiable. It can bebetter to be motionless and still,and feel the wind change, thanto row in the wrong direction

SCORPIOYou reach outto people in arare show ofwarmth, con-nubial bliss andfriendship. Thisis a rather hap-py, goal-orientedperiod. Forming pleasant, affec-tionate social friendships, pos-

sibly related to activities withinan organization/society, cangure. You may meet someonethrough such group activities;consequently, your interests willbe shared. This is a time whenyour best course of action is torecognize that you need, or relyon, others for support. Coopera-tive efforts revolve around mak-ing the most of all the resourcesbelonging to other people, orga-

nizations or groupings

SAGITTARIUSYou may feelthat youre in thegrip of a forcebeyond yourcontrol, sinceit is a time forgreat, perhaps

even radical ordrastic, changes in your materialas well as emotional world. Thisis an especially introspective

month during which you havethe chance to truly uncover yourpersonal strengths and talents.This is a very expansive timewhen you have lots of liveli-ness, but not necessarily self-discipline to match. Now sucha careless attitude may lead toundesired troubles. You takemuch more interest in play and

pleasure!

CAPRICORNThe precedingtime span hadlots of highsand lows foryou to reckonwith. The up-coming periodreorients you to your lasting val-ues, and greater idealism is theresult. You are confused aboutwhat future directions to take.You want both absence of worry,and at least some, if not all, thegood things of life. Imaginationand desires may fog your deci-sion making capabilities andcreate confusion. Relationshipups and downs characterize thisphase. Disputes with co-workersare possible. If you are feelingparticularly annoyed, it wouldbe wise to nd little projects and

things to do on your own

AQUARIUSFinancial mat-ters becomeimportant or atleast the mainfocus, but goodmoves have tobe thought out.

Back your ownjudgment, but do so with cau-tion and restraint. The abilityto relate well with others mightenhance your own personalnances during this period.This is a stable position for lovematters and close relationships.Group activities and joint effortsare the best way to accomplishyour goals right now. In fact,you have all sorts of ideas aboutwhat you want to do. You wouldwant to organize projects andput things in shape

PISCES Yourvision is practi-cal right now,and you wantto see tangibleresults for yourefforts. Morecontact withauthority gures is likely duringthis period. Recognition is likelyto come your way whether you

ask for it or not. You are mostcharismatic and well-receivedon the job. You are socially go-getting right now, and successmay come though your goodmanagerial qualities or someform of artistic talent. Try towork cooperatively on relation-ship problems, and when differ-ences arise show tolerance forminor issues as thats the needof the hour.

Our in-house astrologer gazes at planetary positions in the skiesto nd out what the stars foretell about your health, wealth,

family, work and social life in the upcoming period ...

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2010 oct - dec issue

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