Business Management Middle East

Sebastien International - Episode 3 � London

Thu, 17 Feb 2011 11:42:00 +0000

In October 2010, Australian entrepreneur Sebastien Eckersley-Maslin embarked on a bold business challenge: become the Smallest Multinational in the World. Follow Sebastien's whirlwind journey around the world as he attempts to prove that with the right entrepreneurial spirit, you don't need to be big to be big. Sebastien International tells the inspiring story of a unique business adventure.

Episode 3 - London

Sebastien has just two days to strike a deal in London and a tube strike has brought the city to a stand still. It's far from ideal for the young man who is trying to become the world's smallest multinational, but as every successful entrepreneur knows - it's about how you adapt and overcome.

Top apps when you're on the road

If there is anything that my last business trip to London taught me, it's to make sure you've got your apps in order before you go.

With the right technology you can be prepared for anything, even a tube strike the day you've got a major presentation, an interview and a networking event.

Here are some of the apps I rely on to stay productive - on the road and in the back of a London cab:

Todo
- a very powerful to do list designed for both the iPhone and iPad. You can create projects and checklists and even get a little help in ‘Getting Things Done' GTD. More about Todo

Cisco Mobile
With this app I can make ‘local' calls from any office number in my virtual network and make calls over a Wi-Fi network to save on roaming charges. This app only works as part of an enterprise buy, but anyone connected to Servcorp Online can benefit from it. More about Cisco Mobile

Dropbox
A great cloud computing app, dropbox let's you access your files from anywhere, syncs from multiple computers so you'll always have the latest version of the file, and it lets you share files with others via a private URL - it's simple and beautiful and a great timesaver. More about Dropbox

Servcorp Meetings
Book a meeting room anywhere in the world, arrange lunch, tea and coffee, request a white board for a presentation or make sure a personal assistant is on hand to translate. The meetings app highlights what's truly unique about Servcorp's Virtual Office packages. More about Servcorp Meetings

Flight Track
This app allows you to stay on top of last minute changes to your travel schedule. Check the times and status of flights anywhere in the world, view boarding gate numbers, baggage claim numbers, temperature in destination cities and much more. More about Flight Track

LinkedIn
All the contacts of the world via a very intuitive application. Don't underestimate the power of LinkedIn, particularly when you're on the road. The portal is a constant source of inspiration and can put you within reach of business opportunities in an instant. More about LinkedIn app

Of the 300,000 or so apps now available for iOS, there must be a few more that Business Management readers can add to this list.

Sebastien Eckersley-Maslin

To see episode 1 click here.

To see episode 2 click here.

To see episode 4 click here.

Sebastien International - Episode 2 - Tokyo

Wed, 19 Jan 2011 15:29:00 +0000

Sebastien International - The Web Series

Episode 2 - Tokyo

In February 2010, Sebastien Eckersley Maslin left the Australian Navy and became an Entrepreneur. Shortly after, he started a successful business in seven days with just AU$500. And now, he's taking on his biggest challenge ever: become the Smallest Multinational in the World. In episode 2, we join Sebastien in Tokyo.

Doing business in Japan is like a lesson in fine art. While the pace of Tokyo can make your head spin at street level, step inside the cool calm of any highrise and the attention to time honoured traditions is as detailed as an 18th century block print.

You'll also find that being skilled in these customs is powerful currency. The Japanese are extremely polite and place significance on respect and social rank. From ceremonial rituals like the exchange of business cards, to the importance of attire and the formality of meetings, etiquette is to be observed with reverence. Here are some tips that will help you make a good first impression and build a lasting relationship with your Japanese partners.

1. Exchanging business cards
The exchange of business cards during a meeting is a ceremony in itself. Always present your business card to the most senior member at the meeting first. Always bow when presenting or receiving a business card and handle with both hands. Always treat the business card with respect, take the time to read it carefully, never write on it or play with it. A symbol of your name and your credibility, business cards are very important in Japanese business culture.

2. What to wear
Business attire must be formal. Wear a dark suit with a white shirt and subdued tie, but steer clear of a black suit and tie worn with a white shirt, as this is traditional Japanese funeral attire. A red tie is traditionally the colour of someone heroic. The combination of red and white (tie and shirt) is also a symbol for auspicious or happy occasions (business meetings). Men in power - like the Presidents of the United States - are often seen sporting dark power suits with white shirts and a red tie.

3. Business meetings
Punctuality is a must in Japan. Arrive 10 minutes early and plan a detailed agenda. Wait to be seated in the meeting room, as it is customary for the most important or senior associate to sit the furthest away from the door. Business meetings are about relationship building and decisions are rarely made on the spot. Meetings may feel a bit slow and key details are often discussed in a round-about way - but don't mistake indirectness as non-commitment. Be patient, it will pay off. Silence is also a virtue, if things go quiet during a meeting do not panic, reflection is taking place.

4. Language
Another important aspect to consider is language. If you don't speak Japanese, your meetings will be done through an interpreter. Documents, presentations and even business cards need to be translated. It's important to find yourself a trusted partner on the ground in Japan to help you with these services and anticipate your needs if you visit regularly. This is where the services of a virtual office provider like Servcorp can be invaluable.

5. The Experience
The natural partner to a Tokyo business trip is a stay in a capsule hotel. You might choose a regular city hotel or even the more traditional Ryokan for the majority of your stay, but if you have a sense of adventure it's an experience not to be missed. Once inside, the capsules are larger than they appear, but still definitely not for the claustrophobic. Or those particularly sensitive to hospital style robes, communal showers and smoking. Sometimes all at once!

They might seem like small things, but the few pointers above can make all the difference to a trip to Japan for business. Take some time to consider them before you go and you'll be glad you did your homework.

Sebastien Eckersley-Maslin

Catch Episode 1 here.

And episode 3 here.

And episode 4 here.

Sebastien International - Episode 1 � Sydney

Tue, 04 Jan 2011 14:35:00 +0000

Sebastien International - The Web Series

Episode 1 - Sydney

So Sebastein, tell BM what you're doing right now.

Basically I'm in the middle of a round the world trip to become the world's smallest multi-national. It's a bit of a challenge. I'm also going do it in record time - two weeks. That's the end objective.

I'm no stranger to challenges. I've done a few of these business challenges in the past. One was a start-up in 7 days for under $500.00, a business which is still going today quite successfully. This is all just basically a way of inspiring other people and pushing the boundaries of what can be achieved in really just demonstrating that someone doesn't really have to be big to be big.

Tell us a bit more about Sebastien International. Sebastian International is the global organization. It's just a name. It's a branding exercise. The real business itself is called One for One, and it's basically an organization that for every product that you purchase through us, we donate a like product to someone of need.

It's just a really good way of increasing social conscience in consumers. I found through a lot of research that charities are fantastic and do a lot of good in the world, but people sometimes get a little disenfranchised about the whole charity concept.

They can't really see exactly what their donations actually do because charities work on a much larger scale. What One for One does is it gives people a direct understanding of exactly what their contribution is doing. So, for example, with a bottled water product, you buy a bottled water through One for One and we donate clean drinking water to a child in South Africa for a month. It's a very clear understanding of exactly what their purchases have done.

So talk us through the business model

Firstly, the One for One organization will promote other businesses in this space that currently do this, and there are others out there that already use this concept. We've got them on board already.

Secondly, we really want to show with One for One is that businesses can still have a charitable aspect and be profitable at the same time, and going to show that by having our own product line. So that's really where the actual business sense is.

So the One for One group is more of the marketing and PR aspect to the organization. We'll make our revenue in business in the actual One for One product line.

So why philanthropy?

Well for two reasons. One, I was heavily involved in the Club Kidpreneur Program in Australia, which is a not-for-profit organization that teaches our primary school children basic leader skills. I helped write the curriculum for that. I felt really good about doing that and I wanted to continue down that path.

Secondly, because this challenge is over a very short amount of time I needed a product or an idea that people would jump on and support. One for One is something people will get really excited about because they can see that you're doing good in the world.

It seemed like a really natural fit for this opportunity to go around the world and make a global organization, and also change the way people think and perceive products and consumerism.

Biggest challenges?

There have been a few challenges, some of which we've managed to overcome on the way. The biggest challenge is time. I'm doing this in a very short amount of time, but things are going well and the support of the virtual office provider, Servcorp, just made it so much easier because I had the staff, systems and office space I could call my own.

The other real challenge is that large organizations have long lead times. They'll only meet businesses who want to sell them something in certain time periods and if you're not in that one week period they won't even talk to you. So it's a bit of a challenge to get around that. Calling lots of personal favors, using LinkedIn to identify the exact individual I want to talk to and leveraging my network and going through agents is my way around that.

Catch episode 2 here.

And episode 3 here.

And episode 4 here.

Total Plans Petrochemical Plant in Qatar

Mon, 13 Dec 2010 14:29:00 +0000

Total, the French oil giant has entered into talks with Qatar regarding a petrochemical plant a spokesman for Total said last week.

The talks are in relation to a petrochemical complex that Qatar is planning to build in Ras Laffan, where it has also been working with ExxonMobil. The project was initially valued at US$6 billion.

"We are in discussions with Qatar about the project. But they are still in a very early stage," a Total spokesman said.

According to Reuters, two industry sources have claimed that Exxon Mobil has pulled out of the Ras Laffan project. But the company has denied the reports and repeated its statement from August when it said it was still working with Qatar. However, Total Petrochemicals' senior vice president for Asia and the Middle East, Graeme Burnett, was quoted as saying in ICIS news that Exxon Mobil, Total's US rival, has exited the project. If Exxon does pull out of the project, it will be the third time a US company has pulled out of an energy project in the Gulf region this year.

"ExxonMobil has exited the cracker project in Qatar, and we've always told media that we are interested in doing another project in Qatar," he was quoted as saying in the article published last week.

The proposed complex in Ras Laffan includes a 1.6 million tonnes per year (tpy) steam cracker and associated units including two 650 tpy polyethylene plants and a 700 tpy ethylene glycol facility.

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Qatar to Invest US$6 Billion on World Cup Infra

Tue, 07 Dec 2010 14:13:00 +0000

Despite possessing a strong World Cup pedigree and infrastructure, the US' bid was beaten by Qatar, who will host the 2022 competition despite having no current, recognizable infrastructure in place.

However FIFA, the governing body responsible for selecting the host countries, did take into consideration Qatar's economy, which is expected to grow by 15.5 percent this year and soar by 21 percent in 2011.

Qatar - a country smaller than Connecticut with a population of less than one million - will need to invest US6 billion and have to build from the roots up, investing heavily in new stadia and accompanying infrastructure like hotels and rail.

Top of the agenda will be rejuvenating three existing stadiums and building nine more, including a proposed 86,000 capacity Lusail Stadium which is expected to be completed by 2019 and is scheduled to host the opening and final matches. The 12 stadiums will be spread across seven cities. Due to Qatar's rising economy and population the country has already been investing billions on rail, air and road links.

By 2017, a new metro system that connects to each stadium should be in place.
The country is also set to invest heavily in its hotel and tourism infrastructure to cope with an influx of approximately 400,000 fans. The country currently has around 50,000 hotel rooms but bid leaders have promised that 95,000 will be available come 2022.

The biggest challenge to Qatar's bid was highlighted when FIFA officials toured the potential stadia sights and expressed concern about the intense Middle-East heat (the World Cup would fall within Qatar's two hottest months) and how it would affect players and fans. However bid organizers said that all the stadiums will be climate-controlled and zero carbon emitting to combat what could be temperatures as high as 50 degrees centigrade. Qatar also confirmed training facilities and fan areas would also be cooled with solar-powered air conditioning.

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New UK Head of Emirates Appointed

Mon, 06 Dec 2010 11:55:00 +0000

Emirates Airline has announced the appointment of Laurie Berryman as the award-winning carrier's new Vice President for UK and Ireland.

Mr Berryman is promoted from his current position of Area Manager - UK North, and replaces Conrad Clifford.

The move is a highlight of a 20 year career with Emirates for Mr Berryman, 59, who joined the airline in 1990 ahead of Emirates' inaugural Manchester-Dubai service.

Since then Emirates has grown from operating just from Manchester and London Gatwick, to the country's largest non-UK long haul operator with 98 flights a week from six gateways. Mr Berryman has overseen subsequent launches from Birmingham, Glasgow and Newcastle.

Richard Vaughan, Emirates' Divisional Senior Vice President, Commercial Operations, Worldwide, said: "Laurie has been a driving force in developing Emirates' hugely successful operations in the UK regions.

"Our services to and from Manchester, Glasgow, Birmingham and Newcastle are a cornerstone of the Emirates growth story in the UK and Laurie has done much to bring the airline to a whole new audience - he has a wealth of knowledge and experience in the UK market.

"The UK remains Emirates' largest market outside of Dubai and Laurie is ideally placed to continue our growth in a fiercely competitive market."

As well as managing Emirates' regional services from the UK, he has overseen the growth of the airline's European Call Centre in Wilmslow which employs over 300 people. He will be relocating from Emirates' office in Wilmslow to the airline's UK head office in Cromwell Road, West London.

Mr Berryman said: "Behind our strong brand in the UK is also a great team of people dedicated to delivering excellent customer service - I will be immensely proud to lead them.

"Even through the toughest of times we have been able to grow our services and I look forward to continuing to build on that success."

Mr Berryman was previously with British Airways and British Caledonian Airways. He has a degree in economic history and politics from the University of Kent and is married with two sons.

About Emirates

Emirates operates 98 non-stop flights per week from the UK to Dubai and beyond to a global network of over 100 destinations across six continents. The airline flies five times a day from London Heathrow (two of the services operated with an A380), three times daily from London Gatwick, double daily from Birmingham and Manchester (with one of the services operated with an A380) and daily from Newcastle and Glasgow.

So far this year, Emirates has launched new services to Tokyo, Amsterdam, Prague, Madrid and Dakar in Senegal.

Since its launch in 1985, Emirates Airline has received more than 400 international awards in recognition of its efforts to provide unsurpassed levels of customer service. Onboard passengers can enjoy state-of-the-art in-flight entertainment, meals produced by leading chefs and some of the finest wines available. Advance seat selection is complimentary on all flights, and Emirates offers generous baggage allowances for First Class, Business Class and Economy Class passengers of 50kgs, 40kgs and 30kgs respectively.

For more information, visit www.emirates.com/uk

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Saudi Arabia, Kuwait Aim to Increase Natural Gas Production

Thu, 02 Dec 2010 11:49:00 +0000

Saudi Arabia and Kuwait aim to reduce the amount of oil it uses to generate power by utilizing natural gas instead, according to two nations' state oil companies.

"We are picking up gas exploration," Ahmad Al Sa'adi, vice president of gas operations at Saudi Aramco, said today at a conference in Doha, Qatar. "Any liquid fuel we are burning comes at the expense of our exports."

Saudi Arabia and Kuwait are currently both hampered in producing natural gas by the Organization of Petroleum Exporting Countries limits the amount of gas that can be extracted. Any gas that is currently collected is as a by-product of oil exploration.

Kuwait intends to seek gas fields within its borders and also import. Currently Kuwait uses an average of 200,000 to 300,000 barrels of oil and refined products each day to generate power.

"Our plan is to use less oil than gas," he said. "If worst comes to worst, we would continue to use the more expensive fuel," said Farouq al Zanki, chief executive officer, Kuwait Petroleum Corp at a gas supply conference in Qatar.

Saudi Arabia's domestic oil and gas use is growing faster than its economy, according to Bloomberg. Oil and gas is rising at an average of 5.9 percent annually in the past five years, the kingdom's central bank governor Muhammad al Jasser said in September. The Saudi economy, excluding oil, may expand 4.5 percent in 2010 according to the International Monetary Fund, compared with 3.3 percent in 2009.

"What is really making the difference is that domestic demand is growing," Al Sa'adi said.

Kuwait is currently producing 2.2 billion cubic feet of gas a day, which is one billion cubic feet of gas a day less than it needs, according to Sami al Rushaid, Kuwait Oil Co chairman. Kuwait currently pumps three million barrels a day.

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BP Projects Solar Power to Equal Fossil Fuel Costs by 2020

Thu, 25 Nov 2010 11:14:00 +0000

BP officials have predicted the cost of solar energy will fall 10 percent a year for a decade, bringing the expense of solar energy to the same level as that of fossil fuels.

The comparative costs could meet in as soon as five years, according to Vahid Fotuhi, Middle East director of BP Solar, who explained at a conference in Abu Dhabi that the increasing cost of fossil fuel and the decreasing cost of alternative energy would likely meet in the middle.

The increase in oil prices are expected to continue indefinitely, and rise to an average of $94.50 a barrel in 2012 and $102.13 a barrel in 2013.

Middle East expansion

BP confirmed it plans to increase its solar capacity from 200 megawatts to 300 megawatts this year. Fotuhi also confirmed that BP would be pursuing large-scale solar projects in the Middle East.

Other projects in the Middle East include a 100-megawatt solar plant in Abu Dhabi's desert - with the UAE intending to generate seven percent of its energy from renewable sources by 2020.

According to Bloomberg, several tenders to build plants with capacities of about 10 megawatts each will be announced in the Middle East and North Africa in the next year, said Sami Khoreibi, chief executive officer of Abu Dhabi-based Enviromena Power Systems. Enviromena built a 10 megawatt plant at Masdar, the renewable energy and low-carbon city project being built in Abu Dhabi.

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Leading Figures Discuss Oil Uncertainty in MENA

Tue, 23 Nov 2010 10:34:00 +0000

With territorial ownership being put forward in all four corners of the globe, including Great Britain's claim to the Falkland Islands and more recently Japan's claim to the Kuril Islands, Great British and Argentinean armed forces are on standby for inevitable confrontation. Argentina dispute Great Britain's claim to the Islands they call Islas Malvinas and Russia dispute Japan's claim to the Kuril Islands.

In November of 2009 the Japanese government reiterated the accusation that "the Russian Federation is illegally occupying four northern islands."

The Russian Foreign Ministry responded by labelling a document issued by Tokyo as "unacceptable." The document identifying the alleged "illegal occupation by Russia" of the Kuril Islands, stating: "We consider it necessary to stress that the Southern Kuril Islands are an inseparable part of the Russian Federation territory on legal grounds based on the WW2 results in accordance with the legally binding agreements and treaties between the ally states, as well as the UN Charter that was ratified by Japan."

Last month then-Japanese Foreign Minister Katsuya Okada spoke of the Kurils being "illegally occupied by Russia."

In light of this instability major oil giants are sending their top decision makers which includes, Eon's John Roper, Head of Middle East, Jura Energy's Abdul Ghafoor Anjum, Chief Geologist and Shells, Martjin Van Lieshout, Manager of Production to the Oil & Gas Summit in Dubai on the 12th - 14th April. Here topics from upstream solutions to downstream management will be discussed along with the current territorial issues facing many oil chasing countries.

Japan is concerned by the holding of Russia's Vostok-2010 military drills on Iturup Island, the largest of the disputed South Kuril Islands, Japan's Kyodo news agency said.

A British company has begun drilling for oil in the territorial waters of the Falkland Islands, despite strong opposition from Argentina. Argentina claims sovereignty and has imposed shipping restrictions. UK Defence Minister Bill Rammell said the government had a "legitimate right" to build an oil industry in its waters.

Before the financial crisis gripped the globe in late 2007, countries that had disputed territorial claims to land off their regional borders tentatively agreed to disagree. It's only now, in recent months, with fears of a double dip recession panicking nations into looking further afield, to find new ways to kick start their own flagging economies, have opposing governments made their territorial claims louder and more aggressive.

At the Oil & Gas Summit government officials along with major players from the world biggest energy companies (as stated above) and industry experts will negotiate cost effective, safe and market leading solutions to the successful extraction of sought after, hotly disputed and depleting natural resources their country may possibly own.

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Middle East Oil News Round-Up

Fri, 12 Nov 2010 10:15:00 +0000

In a report by Reuters, oil and natural gas companies are likely to eclipse $380 billion in investment in production projects. A consultant for Wood Mackenzie suggested that this increase in spending was driven by spending on drilling on shale gas in the US.

The anticipated rises will are estimated at 5.3 percent, an increase from 2009 of $19 billion.

"The most spectacular recovery has been in the US, where total spend should return close to peak levels by 2011," the consultant said. "This is primarily due to restored confidence and an impressive renewal of activity in unconventional resources, particularly shale gas."

"Record growth in capital spending is already under way in Australia, where new project approvals and major gas developments will see capital expenditure grow three-fold by 2013," Wood Mackenzie said. "In Iraq, upstream investment is likely to climb rapidly to $10bn in the next three years."

Major oil and gas companies have been utilizing the US with new, unconventional methods of drilling for shale gas, primarily drilling horizontally for thousands of feet and fracturing rock with water, sand and chemicals.

One of the beneficiaries to this new expertise in shale extraction is Chevron Corp, who agreed this week to purchase Atlas Energy for $3.2 billion - a strategic move which enables the second-largest US oil company access to the Marcellus Shale formation in Pennsylvania.

Refiners Increase Production in Middle East

Prices for Middle-Eastern crude rose for a second day as demand increased for middle distillates above benchmarks.

Murban, produced by Abu Dhabi National Oil Co, for January loading rose 1 cent to a premium of 21 cents a barrel to its official selling price, according to data compiled by Bloomberg. Qatar Marine rose 3 cents to a premium of 18 cents to its official price, according to Bloomberg.

Oman crude for immediate loading gained 83 cents, or 1 percent, to $86.90 a barrel, according to data compiled by Bloomberg. That's the highest since May 4 when prices reached $87.40, the most this year. Dubai for January rose 83 cents, or 1 percent, to $86.61. Murban increased 1 percent to $88.10.

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IT Innovation Ripe in the Middle East

Thu, 11 Nov 2010 14:55:00 +0000

Dell CIO Robin Johnson recently announced his belief in the strength of the Middle East's position when it comes to IT innovation, but how realistic is this viewpoint?

'Agility', 'business services' and 'cloud' stand as the ABC of the new CIO lexicon. How do we turn these latest buzzwords into actionable imperatives to produce new business capability for Middle East markets? Which of tomorrow's IT-led initiatives will produce real business advantage? How do we drive the necessary changes to strategy, to operations, and to services to benefit from them?

First the CIO MENA committees, who will be meeting at the CIO MENA summit at the end of November, believe we must identify those technologies and business service trends that could be assimilated into the CIO strategy to help drive new levels of competitive advantage and business value. They also discussed exploring how the changing role of the CIO could best serve the business. No longer solely about capacity, infrastructure or operations, new business demands could push the boundaries as Chief Innovation Officer, Customer Insight Officer or Cloud Interface Officer.

"The role of IT in the next decade must have a shift in its paradigm from focusing on IT to focusing on people. The next decades will even witness further enhancements and many additional technological innovations on top of what exists today," commented representatives from BP - Farhan Mazhar, CIO Middle East & Pakistan, Landmark Group - Kirit Shah, CIO, GE Corporate - Neil Dyke, Corporate CIO EMEA, Abu Dhabi Commercial Bank - Lee North, SVP IT, Dubai Holding - Imad Choucair, CIO and Zain Group - Lynne Dorward, Group Chief Regulatory Officer.

It's no coincidence that the smartest run businesses today also boast a strong competency in business intelligence (BI). BI and analytic software is helping organizations of all shapes and sizes to not only ride out the recession but also position themselves strongly when a recovery happens. Strong demand and growth for BI is being driven by enterprises that have begun to maximize cost savings, identify revenue opportunities, mitigate risk and align business performance across all major industry sectors. BI systems are also getting "bigger, faster and smarter" to meet the demands of an increasingly dynamic and competitive business environment. Often the companies that react quickest to threats and opportunities are the ones that make it to the front page.

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Saudi Aramco Hikes December Crude Prices to Asia

Fri, 05 Nov 2010 09:32:00 +0000

Saudi Aramco, the world's largest state-owned oil company, has hiked its prices on crude destined for Asia for December. The increase is the third rise in as many months for the oil giant.

Arab Super Light crude saw the biggest increase, with Saudi Aramco raising it by $1.45 a barrel to a $3.35 premium over the average of Oman and Dubai grades.

The price increases in Asia weren't an indicative trend in the west, as light and medium crude exported to the US lowered by 5 cents a barrel in December. The total increase of Aramco crude exports to the US dropped from 20 percent in 2008 to 14 percent this year. The surplus crude was made up in China, which bought on average more than 1 million barrels of Saudi crude a day last year, an increase on the previous year.

Saudi Arabia was the fourth-biggest exporter of crude to the US last year, dropping from second place in 2008, data from the US Energy Information Administration show. Canada, Mexico and Venezuela all shipped more crude to the US, the data show.

The price of Extra Light and Arab Heavy crudes remained unchanged.

According to Bloomberg, Crude oil for December delivery rose 0.6 percent on the New York Mercantile Exchange during October to $81.43 a barrel at the close of trading on 29 October. Saudi Oil Minister Ali al-Naimi said this week that crude-importing countries are happy with prices between $70 and $90 a barrel, a broader range than the $70-to-$80 spread that he said on March 30 was "as close to perfect as possible."

As well as price cuts to the US, Aramco announced cut prices to all crude types heading to the Mediterranean, and on most oil types to Northwest Europe.

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Tun Dr. Mahathir bin Mohamed Outlines Good Leadership

Wed, 03 Nov 2010 10:27:00 +0000

When Tun Dr. Mahathir bin Mohamed took the reins of government in Malaysia in 1981, he was the first Prime Minister not to have been educated in Britain. Whether this played any part in his very unique leadership style is debatable, but one thing is indisputable: during his tenor as PM Tun Dr. Mahathir changed the global perception of Malaysia.

Throughout his 22-year tenure in office, Tun Dr. Mahathir was credited with a number of key leadership decisions. He survived leadership contests, splits in UMNO, and challenges from the Islamic Party (PAS). Yet through his term as PM, the Barisan National (a coalition dominated by Tun Dr. Mahathir's UMNO) sustained an overwhelming majority in the federal parliament as a result of successive electoral victories.

Tun Dr. Mahathir was dubbed the ‘father of modernisation' during his time in office, a moniker recognising his commitment to transforming Malaysia from a perceived third-world country into something altogether different. "I travelled a lot and I [didn't] see why Malaysia should look any different from the developed countries that I [had] visited," Tun Dr. Mahathir told MeetTheBoss.tv in an exclusive interview.

Indeed, when Tun Dr. Mahathir took office, there was more than just an ailing infrastructure to focus on. "[First I had] to create jobs for people, then [to] look for other things that [would] be consistent with the ideal of a developed country.
"[To be a developed country] you need to have the necessary infrastructure first. We need[ed] to have electricity supply, water supply, roads, bridges, railways, ports, etc. So the focus was on infrastructure."

Bringing Malaysian infrastructure up-to-date helped bring Tun Dr. Mahathir to the forefront of voters' minds; what cemented it was his commissioning of the Petronas Towers, the largest buildings in the world between 1998 to 2004.

"I used to say that when you are short to be noticed you stand on a soap box. So for me the Petronas Towers are my soap box, because then I can be tall and be seen. So you have to do something that is out of the ordinary so that people will notice you. When I started as Prime Minister, Malaysia was quite unknown. People [kept] on asking, "Where is that? Where is that?" So in order to be noticed we [had] to do certain things that will strike people as something radical and unexpected."

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The Petronas Towers certainly struck a chord across the globe; not only has the project been an overwhelming success from a business perspective, but it has captured the imagination of Hollywood, and been included in movies like the 1999 blockbuster Entrapment.

But it needn't have been so successful, and indeed Tun Dr. Mahathir freely accepts that his leadership success was about research and taking calculated risks.

"It takes a long time before you can really get things running smoothly. So unless you have deep pockets you shouldn't try to go into things that you really do not have enough knowledge about. But this is a government entity and it's the government's policy to introduce industries, heaving industries. We know we took a risk. There have been failures among the projects but there have also been successes.

"You must think about things which are achievable. It may be a little bit extraordinary but they must be achievable."

Tun Dr. Mahathir has always had a good relationship with the media, another aspect he attributes to good leadership. Under his tenure he initiated Multimedia Super Corridor (MSC) Malaysia, a government designated zone, designed to leapfrog Malaysia into the information and knowledge age. As part of the initiative the government aims to attract top companies to Malaysia, in exchange for certain concessions. It was through MSC that Tun Dr. Mahathir spoke to MeetTheBoss.TV.

Excited about the future release of MeetTheBoss TV Asia, the Malaysian government approval committee awarded GDS International with the MSC status. GDS International was granted the prestigious Pioneer Status that has been granted for the maximum period of five years, with the opportunity to extend the status again in the future.

"GDS International is an exciting new company with innovative products and unique online offerings made them a perfect candidate for MSC Malaysia status. We are thrilled GDS have chosen Kuala Lumpur as their Asian headquarters and we welcome our new partnership" - Datuk Badlisham Ghazali, CEO of Multimedia Development Corporation, the government implementation agency to drive the MSC Malaysia vision said.

Since retiring from office in 2003, Tun Dr. Mahathir still imparts leadership advice and is now a serving advisor to Malaysian national oil company Petronas and the Malaysian national car company Proton, and heads the Perdana Leadership Foundation.

To catch the full interview with Mahathir bin Mohamed click here.

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Desertec: Electricity From Desert Unites Europe Arab World

Wed, 27 Oct 2010 11:45:00 +0100

Clean electricity from deserts will soon be making a growing contribution to supplying the people of North Africa and the Middle East with power. And electricity from solar and wind plants in the desert will also find its way to Europe within the space of the next decade. In doing so, it will help all 27 EU states achieve their ambitious renewable energy goals by the year 2020.

'Based on a foundation of mutual respect, partnership and cooperation, a new age of sustainable energy supply can begin that is to the benefit of all. We now want to show how the Desertec vision of electricity for North Africa, the Middle East and Europe from renewable energy sources can be turned into very real activities and projects through this collaboration,' said Dii CEO Paul van Son today at the first annual Dii conference in Barcelona.

Around 300 participants from the Arab nations and Europe are using this conference today and tomorrow to take stock of the progress being made on the topic of electricity from the desert. The presence of government and corporate representatives from potential electricity-generating countries such as Morocco, Algeria, Tunisia, Libya and Egypt bears witness to the great interest that North Africa has in renewable energies. Opened by EU Commissioner for Energy Günther Oettinger, the conference will address all the important aspects of the Desertec vision:

- Generating energy in deserts:

At which locations in desert regions can energy be generated using sun and wind, with which technology and at what cost? These are the key questions in the field of power generation that international experts from the commercial and research sectors are discussing. On the basis of geo-scientific analysis, the possible locations have to be found and the best suited technologies identified, such as solar thermal and photovoltaic, and the expected generation costs calculated. The ways of reducing energy production costs are also an important consideration here.

- Transporting electricity to local and distant consumption centres:

There are also many technical and economic aspects that have to be clarified when it comes to how to transport the electricity from the generation locations to the places where consumers need it. Existing electricity grids have to be examined as to their suitability for the future, bottlenecks have to be identified and the best possible
transmission technologies selected. Within the scope of its work, Dii will also submit scenarios for the structure of the electricity grids by 2012, and the related investment propositions. In doing so, the close collaboration between Dii und MEDGRID/Transgreen will be of particular importance. This international industrial consortium is to be founded in Paris in November and develop an integrated master plan in the framework of the Mediterranean Solar Plan for a high-performance electricity grid in the Mediterranean. Using this grid, the plan is then to be able to transport up to five gigawatts from Africa to Europe.

- The development of the energy markets:

In the focus of the market analysis is the question of how the gap between the costs of electricity from the desert and the income that can be expected from it can be bridged over time. The analysis of the market potential is as important here as is the issue of who comes into question as a future buyer of the electricity. In order to make desert electricity marketable in the medium term, stimulation mechanisms have to be investigated and compared. In particular, a standardised pan-European feed-in tariff for North African solar and wind energy would be an important tool here. The earnings that can be achieved in Europe - for solar energy, for example - could also be used as financing levers for more investments in North Africa.

- Economic and social development potential for the MENA region:

A crucial success factor for the realisation of the Desertec vision will also be the analysis and ascertainment of the benefit that the potential producers of the energy from the desert will gain. To this end, the macro-economic effects of the expected investments have to be identified. The value created locally by Desertec has to become visible - for example, through the development of industries, the creation of jobs and the transfer of know-how.- Political-regulatory environment: The political-regulatory environment is another key factor for the realisation of the Desertec vision. The EU directive on the promotion of the use of energy from renewable sources provides the legal foundation for the integration of electricity from the desert. This directive makes it possible to import renewable electricity from non-EU states as long as it is then consumed within the EU. 'The EU directive for the promotion of renewable energies is an important regulatory lever for decisively advancing the vision of electricity from the desert,' says Paul van Son, CEO of the industry initiative Dii.

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Seatrade Middle East Maritime 2010 Officially Opened

Tue, 26 Oct 2010 16:10:00 +0100

Seatrade Middle East Maritime (SMEM) 2010, the region's leading event for the maritime and shipping industry, was inaugurated today by His Excellency Sultan Ahmed Bin Sulayem, chairman of Dubai World and DP World.

Taking place until 28 October at Dubai World Trade Centre (DWTC), SMEM 2010 is the largest, and longest established maritime event in the Middle East. Now in its fifth showing and covering three halls, the event is hailed as the ‘must attend' networking arena for the maritime industry with more than 300 exhibitors and 40 industry speakers.

Chris Hayman, Chairman of Seatrade, organisers of the event said: "The event provides a great insight into the development of the industry. The Middle East maritime industry has stabilised well in 2010 and there is a steady increase in activity. Visitors to both our exhibition and conference will learn more about the current technological advancements in the industry and what to expect from the market in the near future."

SMEM starts hot on the heels of last night's Seatrade Middle East and Indian Subcontinent Awards at the Atlantis The Palm Dubai, which honoured individuals, companies and organisations who have raised standards across the entire maritime industry during the past 12 months.

Jamal Majid Bin Thaniah, Group CEO of Dubai World and Joint Vice Chairman of DP World, who was honoured with The Seatrade Lifetime Achievement Award, made the keynote address to delegates as the SMEM Conference opened this afternoon, with the first session ‘Middle East Voice in World Shipping' kicking off the discussions. Taking part in the opening session of the conference was Peter Swift, Managing Director, Intertanko; Waleed Al Dawood, Chief Operating Officer, United Arab Shipping Company; Nabil M. Bourisli, Chairman and Managing Director, Kuwait Oil Tanker Company; Scott Jones, Chief Executive Officer, Emirates Ship Investment Company; Mohammad Souri, Chairman & Managing Director, NITC and Per Wistoft, Chief Executive Officer, Gulf Navigation Holding PJSC.

The high-level conference programme provides an unrivalled insight into the state of the market and key trends as well as sessions on the major market sectors including tanker, dry bulk and container shipping, on port development and on the region's expanding engagement with offshore. Some of the challenges to the industry, including piracy and the environmental issues will also be discussed.

SMEM 2010 will be the largest to date, in terms of size and content. There is an impressive conference line, hosting some of the most high acclaimed experts from the industry with a series of debates including the state of the industry, the expanding Middle East fleet and the popular Money & Ships forum, as well a number of new elements at the event.

The Technical Seminar Theatre is another new addition to SMEM 2010, it will host a series of Technology Forums in association with the European Marine Equipment Council (EMEC), giving exhibitors the opportunity to present new technology or products to the maritime audience. Taking place on 27 and 28 October between 2 and 4 pm, the free-to-attend Technology Forums will be located behind Hall 7 in DICEC, and will be chaired by Vela International Marine's marine operations manager, Talal Bakheet.

Another first this year is the hosting of the Amver Awards, making its debut in Dubai, the ceremony will take place on 26 October in the Technical Seminar Theatre. The renowned awards will honour shipping companies' commitment to safety at sea, with many Middle East companies in the running for an award.

Since its inception in 2003, SMEM has grown to become the largest event for the maritime and shipping industry in the Middle East. Major exhibitors at SMEM 2010 include: Topaz Energy & Marine, ABS, Castrol, DP World and Drydocks World.

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Iran Offshore Crude Storage Dips by 4 Million Barrels

Mon, 25 Oct 2010 10:24:00 +0100

Iranian crude oil stored at sea has seen a significant decrease by as much as 4 million barrels, as demand from the east continues to increase.

This is in stark contrast to trade with the west, which, in light of tough sanctions means western countries shun Iranian crude, as it makes financing oil deals with the OPEC member is increasingly challenging.

"The Eastern buyers have to be taking more of it. You can't flood the European market with it because there are so many people who can't take it," said a trader with a European oil company.

According to Reuters, only large European oil companies remain major buyers of the Iranian crude oil. These include Royal Dutch Shell, Total and Eni.

"Right now, we see about 550,000 barrels per day of Iranian crude coming to Europe," a second European trader said. "October is slightly lower than September, which was lower than August."

The crude oil shortage is also due, in part, to other Asian refiners stock up on differentials for colder climates, during winter.

"I think with December sour crude premiums picking up ... refiners are turning to Iran," a Singapore-based trader for a Western oil company, according to Reuters.
The Islamic Republic was storing as much as 16 million barrels of crude oil on tankers offshore, down from 20 million last month, traders and shipping sources said.

"In October, two (very large crude carriers) VLCCs of Iranian crude have discharged from floating storage for the East. This is more than we usually see, Iran, OPEC's second-biggest oil producer, exports roughly 2 million barrels of oil a day, mainly to Asia.

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Iraq Looking for Foreign Infra Investment of $600m

Wed, 20 Oct 2010 10:55:00 +0100

In light of its Iraq's ailing infrastructure, the worn-torn country is looking abroad to foreign investors in an effort to re-build from the ground up.

The investment is ambitious; Iraq is hoping to raise as much as $600 billion in foreign investment to rebuild the country, and according to Arabian Business, is pinning its hopes on a housing project that has interested foreign investors.

The plan will be a five-year economic development plan, which at worst will raise $6 billion from foreign investors, but Sami al-Araji, chairman of Iraq's National Investment Commission hopes the figure might be considerably higher - somewhere in the $600 billion range.

"We have a target. We have a five-year plan. We need $6 billion. We'd like to go ahead and shoot for $600 billion," he told Reuters in an interview.

"We hope of course we can realise it, but we will be very happy if we realise a good percentage of it. That's if we pass the 50 percent mark in a solid way."

The housing projects are at the centre piece, with an estimated 1 million new housing units, valued at $50,000 each, which totals about $50 billion.

"If we go for the 2 million housing units, by itself, that will give us a good chunk of that mark," said Araji. "As of today, 132 companies have applied. We are concentrating on 35," Araji added. "We're aiming (to finalise deals) for the end of the year."

"People still ask about the security question ... On the whole, it is much better than before and the investors realise that," he said. "Those who really want to invest in Iraq ... they see that Iraq today is more different than before, in a positive way."

Iraq is also opening up its oil and gas reserves to foreign investment. Iraq has the third-largest oil reserves and 10th largest gas reserves in the world.

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Nakheel Restarting World, Other Unfinished Projects

Tue, 19 Oct 2010 11:09:00 +0100

Dubai World, the luxurious cluster of man-made islands created by Nakheel was put on hold due to financial problems, but now the debt-laden real estate arm has confirmed it will resume work on short-term residential projects, including The World, by the end of October.

Nakheel also confirmed it would "remobilize" other stalled construction prizes including Al Furjan, Jumeirah Village, Jumeirah Park, Jumeirah Heights Clusters, Veneto, Badhrah, Jumeirah Islands Mansions and International City.

"There is a substantial amount of work to be completed there, in the order of AED7-8bn," Chris O'Donnell, Nakheel CEO, told Arabian Business.

"That is going to be very positive for the market... These projects aren't going to be ghost towns but are going to be completed. We have customers lined up and ready to move into these projects as we complete them," he said.

Other construction projects

Nakheel will also expand existing Dubai Malls including the increasingly popular Dragon Mart and Ibn Battuta.

"Dragon Mart has continued to be incredibly successful in this downturn. [The] physical number of people coming through and actual dirhams spent has increased in the last two years. Ibn Battuta mall is the same," O'Donnell said.

Nakheel will also begin work on further malls in existing developments such as Discovery Gardens and Jumeirah Village.

Mega offshore projects, like Palm Jebel Ali and The Universe will remain stagnant due to the Gulf-wide financial dip.

Nakheel is at the heart of the financial problems suffered by its parent company Dubai World, which last November asked to renegotiate more than $24bn of debt.
"It is a project that [in the] short term we are not recommencing," O'Donnell said.

"Some of the projects, like The Universe reclamation, that is very much a long, long term project."

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Dubai Airport Chief Slams Canada, France Over Tax

Thu, 14 Oct 2010 09:36:00 +0100

Dubai airport chief has slammed comments from Air France's chief executive for their remarks regarding unfair subsidies reaped on non-Emirate aviators at Dubai airports.

The comments come on the back of France and Canada accusing Dubai flag-carrier Emirates of receiving government subsidies and preferential treatment at its home hub.

The comments were not received well by Dubai Airports Co. Chief Executive Paul Griffiths, who was quick to damn the comments.

"The only thing Dubai is guilty of is providing an environment that actually supports aviation.

"Most governments around the world treat aviation as a pariah, choking its growth with costly, misdirected regulation, instead of adopting policies that recognise its considerable socio-economic benefits and support its sustainable growth. They then compound the problem with parasitic forms of taxation that usually flow straight out of the sector.

"In Dubai, aviation is embraced as a strategic imperative. Another key to its success has been equal treatment of airlines. Dubai Airports and Dubai Air Navigation Services offer the same competitive rates and charges to all airlines.

"That, combined with the UAE's open skies policy and the attractiveness of Dubai as a business and leisure destination, is why we have 130 airlines operating into one of the fastest growing airports in the world."

And that growth may be the problem. Gulf majors like Etihad of Abu Dhabi and Qatar Airways have seen substantial growth in the last few years, which commentators say has unnerved older airlines and fueled mutual accusations of protectionism.

Emirates President Tim Clark told Reuters on Tuesday it was natural for Emirates to take advantage of export credits if they were provided by the governments and said only 20 percent of its aircraft purchases were financed through export credit.

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Thailand Adopted Strong Solar Strategy

Tue, 12 Oct 2010 09:38:00 +0100

According to the International Energy Agency (IEA), 90 percent of the world's 192 countries have yet to undertake large-scale solar deployment projects and just eight countries accounted for 89 percent of the world's total installed PV generating capacity of 15 GW in 2008.

This is in stark contrast to the IEA 2020 targets of 200 GW of global installed capacity for PV and 148 GW for concentrated solar power. Even the climate change conference in Copenhagen last December, which was seen as an opportunity to set some improved green targets and limit growth in gas emissions failed to accomplish anything concrete.

According to the IEA, countries that adopt a strong policy regime are in a better position to improve renewable infrastructure.

And you don't have to be number one for GDP for this to happen. According to the report Thailand ranks 20th in the world by population, 25th in GDP, and 23rd in electricity-generating capacity, and yet has an established an effective renewable infrastructure, a free-enterprise economy and strong export industries.

Due to its climate, Thailand has focused a large part of its infrastructure on solar energy production, and believes with the right investment and manufacture it could in theory power its whole population. Wisely Thailand hasn't set any figures in stone, but has set the objective to increase its PV capacity 15 times in 15 years, from around 35 MW in 2007 to 550 MW in 2022.

And Thailand is a great example to the 90 percent of countries who have yet to adopt large-scale deployment of RE. The country has over 1 GW of capacity receiving first-phase approval under a feed-in tariff, called an adder (to base electricity prices) of THB8/kWh (US25 cent/kWh), plans to build a $250 million 73 MW thin-film PV solar farm outside Bangkok by 2011 and first-stage moves to rationalise the process for issuing permits.

"Thailand's experience illustrates some of the difficulties faced by a developing solar industry, and may offer lessons on how to avoid them. It suggests that the large-scale growth of solar requires not just selective promotion of one or two large projects, but a wide and coherent set of action programmes," says Raymond Schonfeld, writing for RenewableEnergy.com.

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