July

CONTENTS07.15

42”Right from the beginning we had ambition and we never planned to stop at just one Cozmo branch.” Imad Bukhari, Founder of the Cozmo supermarket chain and Chief Executive Officer of ThE Group.

6 | VENTURE MAGAZINE | JULY 2015

CONTENTS07.15

52 BUsINEssEasing Investment in Iraq Mawared Investments Jo Managing Director Khaled Kanaan outlines his plan to break down barriers to entry into Iraq.By Dina al-Wakeel

58 MANAGEMENTValuing Good HRHow quality human resource management is undervalued in Jordan’s corporate culture.By Jane Hosking

features

46Cover storyUber Arrives in AmmanWhat reception will the popular but controversial ride-hailing app get in the capital?By laitH aBou-RagHeB


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regulars

CONTENTS 14OPINIONThe EconomistWasted YouthEven though the economy appears to be bouncing back, youth unemployment remains a huge challenge.By khalid W. Wazani

16 The Strategist Building Up DubaiDespite past volatility, the city’s real estate sector remains a safe bet for investors.By nader Museitif

18 Tech TalkTech Talent TournamentJordanian students proved their worth at Microsoft’s Imagine Cup semi-finals. By Zeid nasser

20 The AnalystDubai Metro: Mass Transit Done Right Cities all over the region can learn a lot from Dubai’s excellent public transportation system.By Jawad J. abbassi

40 Media and SocietyCutting through the Noise Faced with a barrage of divergent news sources, how can we be sure what’s really happening in the world?By osama al sharif

MONEY36 Amman Stock ExchangeFinancials Drag Index DownWhile the services and industrial indices gained, a decline in the financials sector pushed the General Index down.By aram Rabadi

REVIEwHot WheelsSupercar Station WagonAudi’s remarkable RS6 Avant delivers supercar-bothering performance, but is still spacious enough to lug around a family of five in complete comfort.By ghaith Madadha

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Rudi Jagersbacher, Hilton Worldwide’s MEA President

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32 30

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Ali al-Husry, Chairman of Endeavor Jordan

BMW i8


Managing Director Qais [email protected]

Senior AssociateDina al-Wakeel

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EditorLaith Abou-Ragheb

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Staff WritersJane Hosking

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Elisa [email protected]

Senior Designer Ahmad Aliah

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Photography Alaa’ al-Sukhny

Contributing Writers Aram Rabadi, Ghaith Madadha, Jawad

Abbassi, Khalid W. Wazani, Nader Museitif, Osama al-Sharif, Robert Carroll, Sadad

Talhouni, Zeid Nasser

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This month’s cover story deals with the launch of Uber in Amman. As an exciting a development as this may be, the ride-hailing service will still likely prove out of reach for many residents of the capital unable to pay the required premium to be ferried about in one of its cars. Sadly, these people will still have to make-do with existing subpar mass transport options.For years, Ammanis have been crying out for a decent integrated transportation network to replace the current chaotic system, which is mostly based around a fleet of poorly-maintained buses that appear to abide by no set timetable or route map. And let’s not even mention the menace of those speeding Toyota coasters. We’ve received numerous assurances from the Greater Amman Municipality (GAM) that a better system would be introduced. GAM seems to be delivering on its promise by finally getting the long-delayed BRT project up and running again. But work

needs to be ramped up if we have any hope of tackling Amman’s growing congestion problem before it gets really out of hand. For an idea of the transportation model we should ultimately be aiming for, we need look no further than Dubai. Each day, the city’s metro transports around 450,000 passengers, while more than a million use other forms of public transportation like buses and light rail. (For more on this see Jawad Abbassi's The Analyst column). We genuinely appreciate recent efforts by GAM to make it easier to get around Amman (the initial teething problems with the Eighth Circle traffic lights notwithstanding). But a much more ambitious and comprehensive overhaul of the city’s public transportation network is needed now more than ever.

editor's letter

Dina al-Wakeel senior associate

Let’s Get Amman Moving


EvERy Six MonThS, ThE WoRlD Bank publishes the Jordan Economic Monitor. The wide-ranging report provides a snapshot of how the Kingdom’s economy is performing via a large variety of indicators. The latest edition, which was published last month, focuses on the steady recovery of the Jordanian economy following the Arab Spring, falling unemployment, lower fiscal deficit, improvements in the balance of payments’ external trade figures, and the comfortable level of foreign reserves at the central bank.Macroeconomic indicators are hard to dismiss. They’re usually used as a testimony to the robustness of the economic policies of any government, not only in Jordan, but all over the world. however, focusing on macroeconomic indicators alone is insufficient when trying to devise economic development policies that attempt to target the broadest segment of society. in the case of Jordan, this segment comprises the many people on low or middle incomes.in this context, Jordan’s targeted economic development policies are worth highlighting. The government claimed a breakthrough when the unemployment rate fell despite the presence of almost 150,000 Syrian refugee laborers working in the market, legally or illegally. The international labor organization said Jordan has the highest unemployment rate among youth (30 percent), and the shortage in job openings in the public sector (there are only about 10,000 jobs available regularly for every 100,000 new jobseekers in the market). The report was brave enough to say the drop in the unemployment rate from 12.6 percent to 11.9 percent between 2013 and 2014 wasn’t a result of an

increase in economic activities, but rather was a result of a drop in the labor force participation rate to 36.4 percent in 2014, compared to 37.1 percent in 2013. Policy makers should pay close heed to these figures, as they show that almost 1 percent of our youth who are supposed to look for jobs are dropping out of the labor market, or out of the

actively participating population. it’s important to ask what’s becoming of these people? it’s clear they are now classified as discouraged workers, and are becoming susceptible to radical ideologies, crime, and drug addiction. So in this context, the drop in unemployment rate in Jordan is an early warning signal, not an achievement for the government to brag about. Actually, this is one of the outcomes of the demand-side policies that the government has been pursuing for the last three years. These policies have focused on imposing more taxes and lifting subsidies more than improving the supply-side of the economy through encouraging investments and

expanding the local market for the current investors, or by encouraging investors from hot spot areas around the region in Syria, iraq, libya, yemen, among others, to move to a safe and stable economy like ours. if we continue on this path, we could push these young discouraged workers, or disappointed active population,

towards three streams of social unrest: drugs, violence, and radicalism. in the same context, some international and local reports said the unemployment rate among Jordanians between the ages of 20 and 24 is around 30 percent, which is the highest percentage in the MEnA region and worldwide. This is another wake-up call for policy makers about the importance of absorbing young people into the labor market. This shouldn’t necessarily mean finding them jobs, but can also involve helping them create their own jobs. The latter means incentivizing startups. But young people need access to finance to create their own jobs instead of looking for jobs. And as the previous edition of the Jordan Economic Monitor

report pointed out, the trend in access to finance in Jordan is weak across all firms and sectors. nevertheless, the window is still wide open if the government decides to use some of the Gulf grant to create a micro and small enterprise financing fund, with special focus on youth projects in all governorates, not only Amman. Also, special attention should be given to joint initiatives undertaken by young women and men.

The Economist KhalID W. WazanI

Khalid W. Wazani is the Chief Economist/ Strategist and CEO of IssnaadConsulting. Dr. Wazani can be reached at [email protected] and his twitter account @khwazani

Jordan’s economy might be improving, but youth unemployment remains a pressing challenge.

Wasted Youth

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VENTURE MAGAZINE | 1514 | VENTURE MAGAZINE | JULY 2015

EvERyonE lovES ChATTinG ABoUT Dubai’s real estate sector, even those who don’t actually live in the city, which is now synonymous with outlandish mega projects and glittering skyscrapers. The desert continues to be pushed back and replaced with sprawling residential and commercial undertakings that target the city’s thousands upon thousands of customers, employees, and residents. And trying to keep track of the latest shopping malls, restaurants, and other leisure hotspots is almost an impossible task.The subject is especially relevant now given the recent decline in real estate prices. This year has witnessed a slowdown in buying activity due to several factors. Some related to local demand control like increasing fees and mortgage down-payments. others related to global dynamics like inconsistent global growth, drop in oil prices, and therefore GCC investor sentiment, and falling currencies against a strengthening dollar in markets like Russia, Africa, and Europe. After reaching unprecedented lows in 2009, the market started a steady

improvement in 2011 and 2012 and went on an accelerated boom trend in late 2013 (after Dubai won the Expo 2020). By 2014 it was safe to say that the market made up its previous losses and reached new highs in some segments. This year has seen varying degrees of correction. All this is called volatility. And guess what? it’s normal.

A developed market will always feel the swings of the global economy. yet a smart market will optimize its exposure to global forces. The UAE was dealt a heavy blow during the 2009 crash and Dubai’s real estate was probably hit hardest. But the city’s engine never stopped; infrastructure projects continued, with highways, bridges, metros and trams popping up all over the place. Tourism was promoted and millions of visitors took advantage of falling prices. The market rebounded faster

than most others. The short-term investors made a fortune, and so did the long-term endurance investors who entered pre-crisis. Cycles will occur indefinitely—even in officially non-capitalist markets. Dubai’s cycles are no different; if anything they might be stronger given the state of growth it undergoes and the speculative nature of investors.

But the economic engine that kept rolling post 2009 is bigger and now supposedly more resilient to shocks. Cycles will continue but they may be headed towards a range and an equilibrium that rewards long-term players and, at times, the short-term return hunters.

THE STRATEGIST naDEr MusEITIF

Nader Museitif is a director of Merg-ers and Acquisitions and franchising at Aramex. You can contact him at [email protected]

Despite recent volatility, Dubai's real estate sector is proving to be more resilient than ever.

Building Up Dubai

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tHE ECONOMIC ENGINE tHAt KEPt ROLLING POSt 2009 IS bIGGER AND NOW SUPPOSEDLY MORE RESILIENt tO SHOCKS


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ThE iMAGinE CUP iS MiCRoSoFT'S global technology competition for students between the ages of 16 and 24. Since it began in 2003, a significant number of Arab teams have made their mark at the closely-fought event.Three Jordanian teams made it to the pan Arab semi-finals of this year’s tournament, which was held in Bahrain between May 31 and June 2. They were Jordan’s national champions in the categories of Games, innovation, and Global Citizenship. They were competing against national champions from 11 other Arab countries. The winners will go on to compete in the finals, slated to take place in Seattle later in the year. of the three Jordanian teams at the pan Arab competition, two came in the top three in their chosen categories. Clinching second place in the innovation category was the University of Jordan's Welink team, which produced a glove for people with hearing disabilities that converts sounds into vibrations.Securing third place in the Global Citizenship category was the Captiosus team from the Jubilee School. The year eleven students

created a Windows Phone application that serves as a personal assistant for the vision-impaired. The CodeFathers team, which was made up of fourth year iT students from the Middle East University, failed to win in the Games category. But even so, they still brought a

unique and well presented creation to the competition. Wadro is a 2 dimensional multi-level adventure game which aims to raise awareness of water conservation. it features a drop of water which goes on a journey through a maze of pipes, changing from liquid to solid to gas state. All the teams showed bags of energy and enthusiasm, a fact which wasn’t lost on John Scott Tynes, Student Developer Evangelism Program lead at Microsoft, who runs the imagine Cup worldwide. "All of you here are winners,” he told the competitors. “your participation in the imagine Cup will reflect positively on your

professional life and your chances in progress in the fields of information technology. This is the ultimate goal of educational programs and events at Microsoft.”it’s important to note the competitors’ creations were developed for various platforms, not just for Windows,

and utilized various non-Microsoft programming tools. hana habayeb, the open Source Strategy lead at Microsoft Middle East and Africa said: “Regardless of the technology that students, startups, or enterprises prefer to use, Microsoft wants to be there for them. We have a legacy of being the platform and productivity company, therefore we want to grow the pie for everyone in this Mobile First, Cloud First world.”

TECH TALK zEID nassEr

Zeid Nasser is a tech and media writer and commentator since the 1990s. He’s also the founder of vari-ous local and regional media [email protected]

As a high profile showcase for Jordan's brightest young minds, Microsoft's Imagine Cup is hard to beat.

Tech Talent Tournament

OF tHE tHREE JORDANIAN tEAMS At tHE PAN ARAb COMPEtItION, tWO CAME IN tHE tOP tHREE IN tHEIR CHOSEN CAtEGORIES


ThE DUBAi METRo iS An engineering marvel. As one of its frequent users, i am constantly impressed by its spotless, luxurious air-conditioned stations and its driverless trains. i also love how its platforms are closed from the tracks by doors that only open when the trains arrive, offering security measures not present in most other city metro systems.The metro’s passenger numbers are equally as impressive. last year, it carried over 164 million passengers, up 19 percent from 2013. Passenger numbers exceeded 44 million in the first quarter of 2015, growing by 9 percent over the same period in 2014. Assuming one round trip per passenger per day, one can deduce that the metro served 225,078 unique passengers per day in 2014, and 243,133 unique passengers per day in the first three months of 2015, which amounts to 10.45 percent of Dubai’s population of 2.326 million people by the end of 2014. The metro’s effect in reducing street congestion in Dubai is very clear. Assuming one daily round trip per passenger, and two passengers per car, the metro reduced car traffic by over 243,000 car-trips (or 121,500 car round trips) every day in the first quarter of 2015. Reportedly, the metro still hasn’t broke even since it was launched in 2009. But Dubai’s Road and Transport Authority expects this to happen by 2017. Still, the metro offers many positive economic externalities to Dubai’s economy which justifies the massive cost. For example, Dubai received 13.2 million tourists in 2014, up from 11 million in 2013, a growth rate of 20 percent. A big segment of these tourists are conferences and exhibitions attendees. The World Trade Center, which hosts most big exhibitions in Dubai, has a metro station that carried

3.76 million passengers in 2014, up from 2.67 million passengers in 2013 (a growth rate of 40 percent). This busy metro station that serves the exhibitions hub in the city underpins Dubai’s attraction as the leading

exhibitions hub in the region. i recall that, before the metro was set up, delegates of GiTEx wanting to leave the annual technology show had to wait hours for a taxi, and would then quickly get stuck in a massive traffic jam. Tourism is also another clear beneficiary. The metro stations at Dubai international Airport served over 5 million passengers in 2014. Moreover, five metro stations that cater to Dubai’s mega malls served close to 20 million passengers in 2014, reducing pressure on parking spaces and reducing street congestions. Businesses benefit, too. The metro stations serving the business hubs of Dubai internet City, Dubai Media City, and Dubai Financial Center carried over 22 million passengers in 2014, up from 19.9 million in 2013—a growth rate of 12 percent. Clearly, a state of the art public transport system is a massive and expensive undertaking. The

relatively long payback period of such infrastructure investments, coupled with their clear positive external benefits, make them ideal candidates for long-term public sector investment.

Dubai Metro will serve the city’s population and visitors for decades, and will eventually generate a positive return on investment as a stand-alone project. yet its contribution to business and tourism-related sectors already benefit the economy and enhance government tax receipts. Finally, a successful public transit system allows any city to grow sustainably with less pollution and congestion problems. Dubai Metro’s success story should be a case study for Amman and other cities already suffering from traffic congestion.

THE ANALYST JaWaD J. aBBassI

Jawad J. Abbassi is the founder and GM of Arab Advisors Group. Contact him on [email protected].

Dubai’s metro system has radically reduced the city’s congestion problems and secured its position as the region’s leading convention and business hub. Its example should be adopted everywhere.

Dubai Metro: Mass Transit Done Right

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A SUCCESSFUL PUbLIC tRANSIt SYStEM ALLOWS ANY CItY tO GROW SUStAINAbLY WItH LESS POLLUtION AND CONGEStION

Source: RTA annual report

Dubai Metro Passengers

Growth

Growth (%)

109,491,741 137,759,258

28,267,517

26%

164,307,080

26,547,822

19%

40,655,978 44,371,860

3,715,882

9%

2012 2013 2014 Q1 2014 Q1 2015


mailto:[email protected]

uniteD states, June 18 Charleston shooting suspect Dylann Roof is escorted from the Shelby Police Dept. Roof is suspected of fatally shooting nine people at the historic Emanuel African Methodist Episcopal Church in Charleston.

soutH koRea, June 15Health workers disinfect a bus in Seoul, during a MERS outbreak which has killed at least 25 people.

MONTHIN PICTURES

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JoRDan, June 13Mourners in the city of Madaba carry the coffin of tariq Aziz to be buried. the senior Iraqi diplomat, who was a close confidant of Saddam Hussein, died on June 5 in an Iraqi prison.

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sWitZeRlanD, June 3 FIFA President Sepp blatter steps down from a podium after delivering a speech during the FIFA Congress in Zurich. He resigned on June 2 as head of the world soccer organization, which has been shaken by massive corruption allegations.

CHina, June 4A vigil is held for the 400 people who died when the cruise liner they were travelling on overturned during a storm on the Yangzte River.

gaZa, June 16A Palestinian market vendor sells traditional “fawanees” lanterns in the run up to Ramadan.


What is it? Mobile Number Portability (MNP) is the ability to keep your mobile phone number when switching from one telecom operator to another.

Why does it matter? MNP is particularly important for business users, many of whom find value in keeping a particular mobile number over the long-term, but don’t necessarily want to remain wedded to one provider. Furthermore, if implemented well, MNP should in theory increase competition between telecom operators by forcing them to improve the price, quality, and range of their services to attract and retain customers.

do We have mNP iN JordaN? Even though countries like Saudi Arabia managed to put MNP in place years ago, the practice has yet to be implemented here despite several concerted attempts over the past decade. but Mohammad al taani, the CEO of the Kingdom’s telecommunications Regulatory Commission, is now reportedly trying to get Jordan’s three main telecom providers to sit down at a specially convened meeting to discuss ways of finally making MNP a reality for Jordan’s millions of mobile phone users.

hoW much demaNd is there for mNP? It’s hard to pinpoint an exact figure, but it’s safe to assume there are a significant number of Jordanian mobile users that are annoyed by not being able to keep their number while shopping around for the best deals. but it’s important to also consider that technology has moved on greatly since MNP first began being implemented in telecom markets around the world. More and more users are now arguably more interested in communicating via mobile apps like twitter and WhatsApp than bog-standard voice calls.

MoBile nuMBeR PoRtaBility CHeat sHeet

gateway news&views

J

“The refugee crisis is one of the defining challenges of the twenty-first century, but the response of

the international community has been a shameful failure.”Amnesty International Secretary General Salil Shetty said after the

human rights organization released a report on the global refugee crisis.

“We recognize the world has changed and we need to change with it.”

Stuart Gulliver, HSBC chief executive, on the restructuring of the bank that involves closing hundreds of branches and axing 25,000 jobs

around the world.

“Everyone must respect the will of the people.”Turkish President Recep Tayyip Erdogan said after his ruling AKP party lost its parliamentary majority in a general election.

"This home of ours is being ruined and that damages everyone, especially the poor."Pope Francis said in a papal declaration on the need to protect the environment.

QUOTED

ordan said last month it was going to issue its first ever sovereign

sukuk, or sharia-compliant bonds, soon.The long anticipated issuance is expected to rake in some JD400 million to finance real estate projects, a source familiar with the topic told The Jordan Times. The source also predicted the sovereign issuance to be a dinar-dominated offering.Though Jordan passed the islamic Finance Sukuk law in 2012, allowing both public and private entities to issue sukuk, it was only in April that the government vetted the islamic Corporation for the Development of the Private Sector, an arm of the Jeddah-based islamic Development Bank, to support the country's maiden security bonds issuance. only one corporate sukuk had been issued in the Kingdom before: a seven-year JD85 million security launched by Al Rahji Cement in 2011. The Governor of the Central Bank of Jordan Ziad Fariz told the oxford Business Group earlier this year that interest in islamic bonds would help reverse a trend of typically low activity amongst private companies in the debt markets.Jordan’s banks are generally hesitant to trade on bonds and economists hope that a successful issuance of an islamic bond may encourage businesses to take a closer look at raising their capital through the debt market. “This could be especially

appealing for those private companies which don’t want to borrow directly from banks and want to diversify the way they finance themselves,” said economist Jawad Anani.But the sukuk issuance may also prove to be successful on the secondary market, where these bonds are traded. “Private and sovereign issuance have not succeeded on Jordan’s secondary market,” Anani said. “Most of them have been traded solely on the primary market without creating the secondary market the government hoped for, with people often purchasing and holding them until maturity.”More Jordanians feel at ease with the islamic security, the economist said, as they’re sharia-compliant. While their return is lower than on government bonds, their liquidity

factor might make them more appealing on the secondary market.Several countries have launched maiden sukuks in 2015, including the UK and South Africa. “islamic financial instruments are growing in size in general,” Anani said. “By the year 2020, estimation sees that their market would exceed $2.5 trillion. Though this is not a huge number in terms of international market for financial instruments, many international banks have started to find them appealing in light of the safety they bear.” And while some investors made losses using other financial instruments during the international financial crisis in 2008, the sukuk market was different, Anani said, as they are not affected by the ups and downs of interest rates. –eo

FiNANCE

JORDAN ExPECTED TO ISSUE DEBUT SUKUK

s part of Jordan’s second round of national renewable energy iPPs, Arabia Group said it

has been shortlisted to construct a 50 MWp plant.The company said it’s one of four solar developers that will be selected to provide a combined capacity of 200 MWp in power plants located in Azraq, Mafraq, and Safawi. They will sell electricity at record low tariffs; $0.0613, $0.0649, $0.0691, and $0.0767 per kWh, respectively. The cheapest international prices for electricity generated from solar energy range from $0.059 to $0.11 per kWh.“This second round will prove to be extremely beneficial to the country in many ways and has already set a new balance between prices and costs,” said Arabia Group’s Project Development Director Tareq Khalifeh, whose company’s record-breaking bid was made in partnership with construction giant Saudi oger. “The government set a ceiling tariff of $0.169 per kWh in round one to incentivize the sector. The prices in round two set instead a new benchmark for tariffs in the market today. it is clear now that if you are above these prices, there’s a very low chance of being involved in this sector.”Arabia Group, the only developer successfully involved in both rounds, is also developing a project as part of Jordan’s first 180 MW renewable energy iPP. The company is set to begin work soon on a 10 MW solar energy plant in southern Jordan.As part of a drive to diversify its energy basket, Jordan aims to generate 15 percent of its energy needs from renewables by 2020. Round one plants will make up about 4.5 percent of Jordan’s energy requirements, while renewable power in round two will account for some 5 percent. –eo

ENERGY

FOUR COMPANIES SELECTED IN SECOND RENEWABLES TENDER

a


UAE

Property in ExcessRising residential unit supply pushed Dubai rental and property prices down in the second quarter of the year, Phidar Advisory said.Data from the Dubai-based real estate consultancy said apartment lease rates decreased by 2.4 percent, while sale prices decreased 1.5 percent. but Phidar Advisory Managing Director Jesse Downs said the drop was no cause for worry. “If we consider only under construction and launched projects, the majority of the development pipeline is justified due to sufficient total demand,” he said. “However, overbuilding in the mid-high income segment will likely increase competition and lead to supply reordering.”

QATAR

Media Onside in FIFA ScandalMembers of the GCC have called on their media outlets to show support for Qatar’s hosting of the 2022 World Cup tournament, as speculation grows that the state’s successful bid could be annulled amidst the FIFA corruption scandal.“GCC information ministers renewed their call for the media to counter all those who seek to question the right of the State of Qatar to host the 2022 World Cup,” a statement carried by the official Qatar News Agency said. It added that the ministers were “stressing GCC states full solidarity with the state of Qatar and encouraged media in the GCC to continue countering these campaigns at home and abroad.”Qatar has strenuously denied allegations that any of its officials paid bribes to win the right to host the 2022 World Cup.

SAUDi ARABiA

Oil Price Drop Begins to Bitethe IMF said Saudi Arabia was considering issuing government bonds to ease the downward pressure on the country’s foreign reserves, Arabian business reported.“the sense we had is this year,” tim Callen, chief of the IMF mission to Saudi Arabia said of the timetable for the potential issuance.the drop in oil prices, which has slashed Saudi oil export revenues, has caused net foreign assets at the central bank to fall to $679 billion in April from $737 billion in August. the government last issued a development bond in 2007.

GULF ROUNDUPinflation WatCHinflation in May dropped by 0.22 percent over the same month last year. Indicators for Rent rose by 5.8 percent, Education by 3.7 percent, Communication by 0.2 percent, and Clothing and Footwear by 4.9 percent. However, transportation, and Fuel and Lighting dropped by 13.1 percent and 11.8 percent respectively.

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3.66 3.7 3.7 3.7

-13.12 -12.16 -12 -11.8

-18.85 -15.8 -13.1-13.9

1.22 1.4 1.5 1.4

7.03 6.7 5 4.9

-0.09 0.11 -0.16 2.4

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TECH SUPPORT

TRAVEL APPS

Travefy

Skyscanner

Hotel Tonight

TripAdvisor Offline City Guides

Foodspotting

Whether you’re traveling for business or pleasure, these five apps will take the hassle and stress out of planning your trip so you can enjoy your time on the road.

BY JANE HOSKiNG

There are few better ways to plan a trip and collate all your travel details into a seamless itinerary than Travefy. This new app allows you to enter in your flight details, hotel bookings, places you plan to visit, and restaurants you want to try, so that all the information you need is located together in one place. And the best thing about this app is that you can link up with the people you are traveling with to discuss ideas, split costs, and put your itinerary together.Available on: iOSPrice: Free

if you’re booking flights and you’re after the best time or the cheapest deal, but don’t have time to sift through multiple airline websites, Skyscanner is the app for you. This handy travel-booking tool pulls together flights from almost all of the top airlines and low cost carriers, allowing you to compare prices, flight times, and airlines in a matter of seconds. Skyscanner also provides a monthly chart view of your search so you can see the cheapest days to travel. Available on: iOS, Android, and Windows PhonePrice: Free

you never know when you’ll find yourself setting out on a spontaneous holiday or business trip without having a chance to book a hotel in advance. And if you do, there’s no better place to turn than hotel Tonight. This hotel-booking tool provides last-minute discounts on the best budget and top-range hotels that have empty rooms, making your choice not only quick and easy, but affordable as well. Available on: iOS, Android, and Windows PhonePrice: Free

Most people have heard of TripAdvisor but few have heard of their offline City Guides app. These downloadable travel guides mean that even if you don’t have a local sim or you want to avoid costly internet roaming charges, you can still have the best travel advice and crowd-sourced reviews in your pocket so you’ll know where to eat, stay, what attractions to visit, and more. Just make sure you download the guides you need before you leave. Available on: iOS and Android Price: Free

There’s certainly no shortage of food apps around, but Foodspotting has brought something different to the table. instead of basing your search on the type of restaurant you are after, this app allows you to search for the type of food you want to eat, by either the closest option or the best. Available on: iOS, Android, Windows Phone, and BlackberryPrice: Free


UNIVERSITIES TO LAUNCH DIGITAL LEARNING PLATFORM

ordan’s public universities are aiming to increase their internet

presence through a new online platform that will pool lectures, examinations, and lesson plans. The Jordan Universities network (JUnet), in partnership with Microsoft Jordan, will launch the Jordan open Courseware Platform—www.elearning.edu.jo—in the autumn. The move is part of JUnet’s “commitment to simplifying and accelerating the procedure of attaining information needed by university students for teaching and learning processes, as well as for completing their researches,” JUnet Executive Director Faruq al-omari said in a statement.The platform will be developed later to become a research hub for all the Kingdom’s universities that will also help ease the exchange of information between students. Further services will also include web-based classes, exams, a digital library, and cross

research activities.Microsoft office Manager in Jordan hussein Malhas said through this step his company was seeking “to enhance local higher education standards on par with worldwide educational systems, as well as empower youth to excel within their respective majors.”

Jordan’s Minister of information and Communications Technology Majd Shweikeh said the platform was a positive step towards further integrating technology in the learning process, which would help advance the standards of higher education across the country. –eo

EDUCATiON

ast month marked the release of the Russian-made yotaPhone 2

in the Jordanian smartphone market, with orange selected as the exclusive provider of the dual-screen handset.The launch of the 4G-enabled yotaPhone 2 “demonstrates our continued efforts to provide our customers with a diverse range of 4G-capable devices that cater to their every need,” said orange’s Chief Commercial officer Patrice lozé. The yotaPhone 2's main 5-inch 1080p AMolED screen is designed

for web-browsing, social networking, and photography. While the 4.7 inch rear screen utilizes energy-saving e-ink technology for when the user simply wants to quickly check notifications, read a book, or access other simple applications.The device itself is slim and light at just 145 grams in weight and 114 x 69.5 x 8.9 mm in dimensions, but also quite sturdy with Gorilla Glass covering the front and back. in terms of overall specs, the yotaPhone 2 is pretty basic, coming with a Qualcomm Snapdragon 801 chip, Adreno 330 GPU, 2 GB of RAM, and 32 GB of internal storage that cannot be expanded upon. The cameras are also standard, with 8 MP on the back and 2.1 MP on the front. –st

ith Project Soli, Google has developed a new gesture-tracking technology which could potentially revolutionize the way we interact

with everyday devices.instead of a physical button, gamepad, or touchscreen, the radar-enabled chip that Google has developed allows simple hand movements to control anything from a smartphone to a games console.

HOW DOES THE PROJECT SOLi SYSTEM WORK?ThE ChiP The 5x5 mm silicon radar chip is a new type of interaction sensor, which runs at 60 Ghz and is capable of capturing motions of our fingers at resolutions and speeds that haven’t been possible before—up to 10,000 frames per second.

ThE RADio WAvESProject Soli has reduced the size of radio frequency sensors traditionally used in the likes of submarines and satellites, making it small enough to be used in everyday devices. The chip works by transmitting a radio wave towards the user of a device, which then bounces off their hands and back to the device. Unlike cameras, which are often used in other motion sensing technology, radar has extremely high, 3D positional accuracy that can capture sub-millimeter motions.

hAnD GESTURESBy using certain hand gestures—turning, pressing, sliding etc.—Project Soli enables us to control devices. This includes turning a switch or dial, navigating a map, and browsing on a touchscreen. Even pressing our two fingers together could represent pressing a button to turn a device on or off. –JH

ORANGE LAUNCHES DUAL-SCREEN YOTAPHONE 2

PROJECT SOLI: NExT-GEN GESTURE SENSING TECHNOLOGY FROM GOOGLE

l

W

gateway news&views

TECHNOLOGYTECHNOLOGY

J


MW’s Jordanian distributor Abu Khader Automotive launched the

i8 plug-in hybrid supercar in Jordan last month along with the i3, the first all-electric vehicle to be commercially available in the Kingdom.The i3 is a zero-emission, four-seat hatchback made from carbon fiber reinforced plastic. it can reach a maximum speed of 150 km/h on a motor that delivers 125 kW/170 hp. in daily traffic, the i3 is estimated to offer a range of about 130 km, and can be charged through a BMW i Wallbox, a complimentary charging device that uses a domestic electrical outlet that can supposedly fully charge the vehicle in around three–and-a-half hours.The i8 attempts to combine the performance and design of a sports car with the fuel consumption and emissions of a small car. it’s powered by a three-cylinder, 1.5 liter TwinPower Turbo petrol engine and an electric engine that delivers a combined 362 hp to all four wheels. This enables the i8 to accelerate from 0 to 100 km/h in 4.4 seconds using just 2.1 liters of petrol per 100 km.According to the Managing Director of BMW Group Middle East Johannes Seibert, there’s real demand in Jordan for BMW’s electric cars—from public sector for the i3 and the retail customer sector for the i8. “We see that we will have a medium to long-term sustainable demand for a certain volume that qualifies the market for BMW i,” Seibert said at the launch event in Amman.Abu Khader Automotive General Manager Fahed naber said his dealership expects to sell between 25 and 30 units by the end of this year. To incentivize the use of electric vehicles, import taxes will be eliminated for the BMW i3, while the plug-in hybrid i8 will receive only the reduced 25 percent import tax (even though it is technically not a hybrid vehicle). According to naber, the government has promised that this will not change for the next three to

five years. The i3 is expected to retail from JD33,000, while the i8 will cost over JD180,000.The launch of the two vehicles comes in tandem with the Kingdom’s plan to diversify its resources with renewable energy, as the Royal Court signed an MoU to add BMW i3 vehicles to its fleet. “The government is investing

heavily in promoting sustainability and eco-living as a genuinely viable option,” said naber. he added there were plans to set up charging stations across Jordan within the year with GAM and other companies. For now, for electric vehicle owners, the charging station at the King hussein Business Park will have to suffice. –st

AUTOMOTiVE

BMW LAUNCHES i8 AND i3 ELECTRIC CARS

gateway news&views

Bhile Jordan isn’t lacking in creative talent, attracting

investment for media and art business ventures is no easy task. in order to grow the Kingdom’s creative economy, an industry body is needed to fight its corner, said Ali al-husry, chairman of the Endeavor Jordan entrepreneur support network.“We need some kind of umbrella that will get all of this industry under one roof to see what are the needs, requirements, and challenges,” he told venture on the sidelines of Endeavor’s Catalyzing Conversations event last month. Al-husry, who is also the director of hikma Pharmaceuticals, believes that while there are a lot of initiatives to support creative projects, these are scattered and lack collective coordination. “We have a lot of great initiatives that are happening but they are haphazard and all over the place,” he said. he also called on individuals and corporates to invest more in creative projects until the industry is able to stand on its own feet. “We need to have more of a concerted effort of funds being committed to this industry,” al-husry said, adding that a

hybrid approach to investment, which involves a philanthropic element, is required. “Some projects will be creating profits and returns for the investors, but other ventures will not have the capability of turning a profit. it needs support to hopefully get to a level where it’s sustainable.” While it may still be too early to tell how it has done financially, al-husry is hopeful that award-winning Jordanian film Theeb could be the one

to open the door to greater investment. “This was one of the most successful ventures or films that have come out of the area,” he said. “i’m very hopeful that there will be some serious returns on investment, or at least a return of the money to investors, and that this will enable them and the whole industry to say that if you are going to produce a high quality film with the following ingredients you will be able to make money.” –JH

ENDEAVOR CHAIRMAN CALLS FOR CREATIVE INDUSTRY BODY

W

ECONOMY

gofiguReteleCoM MaRket inDiCatoRs foR tHe fiRst quaRteR of 2015:

Source: Telecommunications Regulatory Commission

inteRnet suBsCRiPtions: MoBile PHone useRs: fixeD-line PHone useRs:

Ali al-Husry, Chairman of Endeavor Jordan

Pre-p

aid: 10,670,516

Resid

ential: 244,477

Po

st paid

: 893,150

Bu

siness: 131,996

inteRnet PenetRation Rate: 76 PERCEnT

Mo

bile b

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ban

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AD

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BMW i8

BMW i3


gateway executive interview

Hilton’s HigH HoPes foR DeaD sea ResoRtHilton’s regional chief says his new Dead Sea resort will be open this summer, ready to take on the competition in Jordan’s increasingly competitive hospitality market.

BY DiNA AL WAKEEL

hilton is set to expand its presence in Jordan this summer with the opening of a new 285-room Dead Sea resort. The new hotel sits next to the King hussein Bin Talal Convention Center that it has operated for several years along with a hotel in Aqaba belonging to its DoubleTree brand.

Rudi Jagersbacher, hilton Worldwide’s MEA president, said the new Dead Sea resort and the increased competition will prove beneficial to Jordan.

There were several delays to your Hilton Dead Sea Hotel’s opening date. What was the reason for that and when will it finally be open?it will be open in the summer. We had slight delays because when you build a big hotel like this you might face development and construction delays, so it’s only very normal.

How do you see it competing against the other five star hotels in the area?We have our own market. We are one of the largest, with a pipeline of 1,115 new hotels. i think it’s very important that we are competing in a market which we are good at, and others will do the same. So i think as a destination you will benefit from all of this.

For a company as big as Hilton, how do you consider the Jordanian market?We already signed a deal with the Jordan Gate project, which are the two famous towers. i think that one of the key issues that we are in discussions with the local investors and government about is to try and speed up the completion date. it’s a very big financial budget. Before the crisis it was fairly easy to finance, whereas after there were some hiccups. We run this on a very asset light strategy which we do throughout the Middle

East and Africa. We bring in our team and our brand, which are our strength, then we have an investor who puts in the capital. There’s a whole array of investors involved in this project but i cannot disclose who they are. But we have notified senior officials on several occasions, trying to help us to resolve this situation.

Have you been given any rough estimation when work on the Jordan Gate might restart?

it’s a little frustrating that it was never completed. But looking at it from a positive perspective it will probably only take a year to finish because a lot of the functionality has been done. When we talk to the municipality and the investors, there seems to be a very positive approach because clearly Jordan is doing well economically. And therefore being a mixed development that feeds hotel numbers and offices it will take care of itself. Today we need to work as a team to try and get it done.

if your project in Amman doesn’t take off, do you plan on moving to a different location?A contract is a contract. But the contract is only related to [one of our brands], which is hilton. it still gives us the opportunity to develop other hotels so we’ve looked at projects for the last two years, both operating and

new and because of our strategy we are making sure that the project has a financial ability. you can build but you need to make money. So we won’t touch anything until it is financially stable. We are actually in negotiation with some hotels and developers for another hotel but i can’t disclose more about it.

Do you think there’s a need for more hotel rooms in Jordan?There are a lot of new hotels coming up. if you have too many rooms what happens is that you’re not going to make the return which you promised your investors and therefore we will look at this stand alone. i think one needs to be very careful. The market which we are looking at is the international market, therefore we need to inbound traffic which has a lot to do with generating demand. if you go through this situation in Qatar, Dubai, or Abu Dhabi they generally have huge inbound through their carriers. But you don’t have that here. one of the advantages here is doing business. you can come in the morning and then leave the next day, so you have to provide them with things to do. Therefore you have a lot of possible activities like visiting the Baptism Site and Petra.

Jordan’s hotels have been suffering a lot of late. The government has tried to help them by significantly cutting

their energy bills. is this enough though?it’s best to pay no taxes. if you look at the sector in Dubai, they have just done something different. Because the majority of the market provides luxury service, there’s now a tax break that’s been introduced if you build a four star hotel. That generates investor interest. if you look now at the development

pipeline within that particular market segment, it is huge. That should be applied in Jordan, too. Everybody wants to stay in luxurious hotels but today not everybody has those kind of resources. i think it’s an excellent offering.

How’s the DoubleTree hotel faring in Aqaba?Exceptionally well. interestingly it’s been doing well from day one and going from strength to strength. There’s a double digit growth each year. Aqaba is at more of a standstill with all the huge developments so in this particular location the brand has done surprisingly well.

How has your growth been in the rest of the region?in 2011 when i came to MEA, we were operating just around 40 hotels. Today we are actually operating and building 150. We are opening new hotels in Egypt and Morocco, so going forward on average we open a hotel every month. The UAE is very strong, so are Qatar and Kuwait. in the GCC the internal tourism is growing massively. Also, we finally see a double digit growth in Egypt in terms of customers compared to when it stopped in 2011.

IF YOU HAvE tOO MANY ROOMS WHAt HAPPENS IS tHAt YOU’RE NOt GOING tO MAKE tHE REtURN WHICH YOU PROMISED YOUR INvEStORS

Rudi Jagersbacher, Hilton Worldwide’s MEA President


Earlier this year Deloitte published its human Capital Trends 2015 report, which examines how workforces around the world are evolving.Karim nabulsi, Deloitte Jordan’s office managing partner, believes companies need to adapt to these new workplace realities in order to survive and thrive.

What is the most notable trend that Deloitte has observed in the workforce in the last 10 years, both globally and in Jordan?nowadays human capital is different from 10 years ago and it’s constantly evolving. Generation y is completely different from the previous generation. There has been a shift in their mindset and their needs are different than people of 10 or 20 years ago. They don’t just want to work hard in their career. They want more of a work-life balance and they want an experience. So nowadays companies need to think differently about how to attract talent, how to retain talent, and how to empower employees.

What are the biggest challenges facing Jordan in the workforce at the moment? i think the first challenge for Jordan is the immense number of people graduating on a yearly basis and the very high unemployment rate. it is at almost 13 percent, and for the younger generation the rate is much higher. There’s also a gap in expectations between the employer and the skills being produced. Then you have brain drain, where skilled people who you want in the market are leaving the country either for higher education or better career opportunities. So companies need to tap into that talent pool and use creative tools to attract these people.

What specific actions can companies in the region take to attract and retain talent?i think that a real opportunity exists for

companies to take the reigns by creating the conditions and commitment needed to attract talent and encourage innovation in the work environment. First of all, they need to have a great environment to work in. They also need to establish an atmosphere where employees are respected, given flexible time, and provided with work-life balance. A firm also needs to be a place where employees’ opinions count and where they believe that their work has a meaningful purpose. Among many other actions needed, uppermost in my viewpoint is to take a corporate responsibility approach with schools and universities to lessen the skills gap and build learning environments to

create leaders.

Jordan has for years exported talent to the Gulf, but do you think that nowadays Jordanians are becoming less competitive in the job market there?i think the Gulf always looks to the levant for talent. now, however, there are many foreign people coming to work in the Gulf due to the economy in Europe and the United States. As a result, more people are seeing the Gulf as an attractive place to work and hence the competition is becoming very high and that’s why it’s becoming harder for Jordanians to migrate there.

tHe WoRk PlaCe 2.0Deloitte Jordan’s managing partner says companies must learn to navigate a new world of work.

Soundbite

BY JANE HOSKiNG

Karim Nabulsi, Deloitte Jordan’s Office Managing Partner


Market Brief

finanCials DRag inDex DoWnMAY 20, 2015 – JUN 17, 2015BY ARAM RABADi

T he services and industrial indices gained, but a decline in the financials sector pressured the General index

down by 0.68 percent to close at 2,154 points; the General index is now down by 0.52 percent on a year-to-date basis. in the meantime, close to 192 million shares were traded at a value of JD212 million and the average daily trading volume reached JD10.6 million. The financials sector accounted for 71 percent of the market’s activity, leaving the services and industrial sectors to account for 16 percent and 13 percent of the period’s trading activity, respectively.

The Services index gained 1.58 percent on the back of the strong performance of the utilities & energy, commercial services, health

care services, and educational services indices. At the other end, the transportation, technology & communications, and media indices suffered some losses. Most of the services sector’s activity was concentrated in the utilities & energy and transportation sectors. The utilities & energy sector was the most active services sector with JD18.6 million, representing 54 percent of the sector’s activity, and the trading of the transportation sector reached JD11.8 million.

The Commercial Services index gained 4.18 percent to lead the services sector’s sub-indices. nopar for Trading and investment (noTi) was the best performing commercial services stock

COMPANY

BEST PERFORMERS

WORST PERFORMERS

MOST ACTiVE

CLOSE(JOD)

CHANGE(%)

TURNOVER(JOD)

TRADiNG ACTiViTiES

AMI: Ab Invest Market IndexASMI: Ab Invest Smaller Market

IndexASE: Amman Stock Exchange Index

trailing P/E: Market capital weighted P/E of index elements

MARKET BREADTH

64 98 60

AD

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S

DE

CLI

NE

RS

UN

CH

AN

GE

D

cLose

chaNGe (%)

ytd (%)

y-o-y (%)

trailing P/e

ASEiNDEX

2154.16

-0.68

-0.52

0.68

14.16

VOLUME (SHARES)191,818,706

VOLUME (JD)212,448,671

VOLUME (US$)299,552,626

iNd

us

tr

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13%

se

rv

ice

s 1

6%

fiN

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TRADiNG VALUE

comPreheNsive Lad deveLoPmeNt & iNvestmeNt

Nutri dar

comPreheNsive muLtiPLe ProJects

2.46

0.72

1.42

0.42

0.54

1.92

1.26

2.46

0.76

90.70

89.47

86.84

-23.64

-19.40

-16.16

9.57

90.70

-14.61

19,304,231

23,013

149,734

3,501,787

105,243

184,669

40,099,605

19,304,231

16,937,727

Barter for iNvestmeNt & traNsPort

shareco BroKeraGe comPaNy

araB aLumiNum iNdustry

ad-duLayL iNdustriaL ParK & reaL estate

comPreheNsive LaNd deveLoPmeNt & iNvestmeNt

aL-taJamouat for cateriNG & housiNG Pr

after gaining 30.77 percent to close at JD0.68. Meanwhile, the Utilities & Energy index gained 3.24 percent as Jordan Petroleum Refinery (JoPT) gained 3.39 percent to close at JD6.10, and Jordan Electric Power (JoEP) gained 3.76 percent to close at JD2.76. JoPT was also the most active service stock with JD16.5 million in trading. The health Care Services index gained 3.54 percent and the Educational Services index gained 2.01 percent as ibn al-haytham hospital (iBnh) led the health care services sector with a 50 percent gain to close at JD1.56. Arab international Company for Education and investment (AiEi) led the educational services sector with a 3.91 percent gain to close at JD4.25.

At the other end, Jordan Telecom (JTEl) shed 3.59 percent in the technology & communications to close at JD2.95, and the Transportation index retreated 4.62 percent to become the worst performing services sub-index. Barter Company for investment and Transport (nAQl) was the worst performing transportation stock after shedding 23.64 percent to close at JD0.4. Moreover, the Media index shed 3.42 percent and Jordan Press and Publishing (JoPP) dropped 5.71 percent to JD0.33, as Jordan Press Foundation (PRES) lost 3.03 percent to JD1.28.

The industrial index gained 0.41 percent despite the retreat of the mining & extraction and electric industries sectors, which are two of the most prominent industrial indices. The Mining & Extraction index dropped 1.87 percent as Arab Aluminum industry (AAlU) posted a 16.16 percent drop to become the worst performing industrial stock for the period. in addition, Jordan Phosphate Mines (JoPh) and Jordan Steel (JoST) dropped by 3.47 percent and 9.52 percent, respectively. JoPh and JoST were the two most active stocks in the mining & extraction sector. At the same time the Electrical industries index dropped 4.36 percent as United Cable industries (UCiC) posted a sector worst 7.55 percent drop to close at JD0.49.

At the opposite end, the Food & Beverages index led the industrial

sector with a 5.19 percent gain on the back of a near 90 percent gain by nutri Dar (nDAR), which closed at JD0.72 and was the market’s second best performer for the period. nDAR issued a statement stating that the strong performance of the stock is exclusively due to the market’s demand and supply dynamics. At the same time, the Chemical industries index gained 5.02 percent as Comprehensive Multiple Project Company (inoh) led the sector with a near 87 percent gain to close at JD1.42, becoming the market’s third best performer.

The Banking index dropped 2.37 percent and dragged down the Financial index by 1.73 percent despite gains of 2.83 percent and 1.96 percent by the diversified financial services and real estate indices. Comprehensive land Development and investment (ATTA) played a big role in the strong gains of the Real Estate index after it

led the market with a near 91 percent gain to close at JD2.46. ATTA was also the market’s second most active stock with JD19.3 million in trading. ATTA announced that it entered into a partnership to develop one of its land lots in one of Amman’s busiest streets. The most active stock for the period was AD-Dulayl industrial Park and Real Estate investment (iDMC), which had JD40 million in trading as it gained 9.57 percent to close at JD1.26. in the meantime, Al-Amal Financial investment (AMAl) led the diversified financial services sector with a 54 percent gain to close at JD1.14. in other news, Cairo Amman Bank (CABK) listed 35 million new shares on June 3 to increase the bank’s capital to 160 million, and in related news and on June 17, Bank al-Etihad (UBSi) listed 15 million new shares to bring the bank’s capital up to 125 million shares.

PROViDED BY:AL ARABI INVESTMENT GROUP

“Member of the Arab bank Group”[email protected]

[email protected]

tHE GENERAL INDEX IS NOW DOWN bY 0.52 PERCENt ON A YEAR-tO-DAtE bASIS


n May 25, Aqaba’s port received its first cargo of lnG at its new purpose-built facility named after Kuwait’s emir, Sheikh Sabah Al Ahmad Al

Sabah. The gas supplies are set to

play a major role in Jordan’s efforts to meet its pressing energy needs.

however, the heightened activity at Aqaba has underscored the need for Jordan to improve connectivity between the country’s only port and the north, where the capital and

many businesses are located, and reduce the strain on its roads.

Aqaba Port was responsible for around 55 percent of Jordan’s entire export trade in 2013, while handling some 73 percent of total imports during the year, according to the

oxford Business group

Words By oliver Cornock

Oliver Cornock, Regional EditortHE INSIDE EDGE

www.oxfordbusinessgroup.com

gas to tRaCksbesides helping Jordan achieve energy security, Aqaba’s newly launched liquefied natural gas terminal is also spurring on efforts to develop the Kingdom’s rail network.

Department of Statistics. The area is also home to the Aqaba Special Economic Zone, an industrial site including airport and maritime facilities, factories, workshops, and businesses in and around the Red Sea city.

however, given the instability in

neighboring Syria and iraq, pressure is likely to increase at Aqaba due to the fact that overland trade has been largely frozen by border attacks from insurgents.

in April, Jordan closed Jaber, its only working border crossing with Syria, with the loss of trade routes hurting both importers and exporters. This forced Jordanian traders with commitments in Syria or iraq to rely on sea routes either via haifa in israel or on the long journey through the Suez Canal to Aqaba.

While the port itself is facing greater traffic, the two overstretched

highways which link the port to the north of the country, where most of Jordan’s population is located in or around the capital Amman, are also under strain, leading to calls for alternative solutions.

Rail has emerged as the front-run-ner in discussions aimed at exploring alternative forms of transport. Jordan already possesses two rail networks, both of which are managed by government-owned entities. The hejaz Railway Corporation (hRC) operates 217 km of track, while the second 293 km line falls under the responsibility of Aqaba Railway Corporation (ARC).

hRC’s main route runs from the Syrian border to the Modawara cross-ing on the Saudi border, although the conflict in Syria has severely restricted the service. The ARC, meanwhile, transports cargos of phosphates from mines in the southern interior to loading bays at Aqaba.

The government is now looking to develop the network further, with the aim of connecting the port with the capital. “The first phase of the railway network would be to connect Aqaba and Amman,” said Transport Minister lina Shbeeb. “This would include a connection to Ma’an, where we would like to have a dry port.”

The rail link would speed up the process of getting goods from Aqaba to Amman, the minister said.

in another move aimed at reducing delays, the planned dry port at Ma’an is set to be a designated hub for clearing goods, away from the main site. The minister also said her government was “eager to engage the private sector in proj-ects regarding the railway network.”

The Aqaba-Ma’an-Amman project is the cornerstone of a JD2 billion plan for the network unveiled by Shbeeb in April. The rollout for the three-part scheme is set to begin with the construction of the Aqaba-Ma’an stretch and the Ma’an dry

port, followed by the Ma’an-Amman phase of the project. Phase three will link the capital to Mafraq, where another dry port is to be built.

The railway project has wide-spread backing amongst transport and logistics firms. Aside from improving connectivity, the service is expected to reduce transport costs, making Jordanian exports more competitive and imports cheaper. The dry ports will also go some way towards cutting clearance times, while also bringing new investment and jobs to Ma’an and Mafraq.

Despite these positives, Jordan’s network plan faces some uncertainty. Established road hauliers, particu-larly those in Ma’an, may see rail as unwelcome competition. in addition, the authorities’ success in securing private investment for such a large infrastructure project could be determined in part by what is offered in terms and conditions, with much hanging on the shape of the contracts the ministry will be drawing up.

yet the need for the railway is widely acknowledged. Furthermore the government’s commitment to pushing it through is an encouraging sign for both investors and future transport users.

tHE RAIL LINK WOULD SPEED UP tHE PROCESS OF GEttING GOODS FROM AQAbA tO AMMAN

o38 | VENTURE MAGAZINE | JULY 2015

Cutting tHRougH tHe noise

he preponderance of old, new, and online media outlets in today’s world has created a number of challenges for news

consumers. The choices we have available to us, from newspapers and 24/7 Tv, to radio stations and countless websites, have combined to ensure a constant flow of news and information, anytime and anywhere. But how do we decide which news outlet to follow and on which terms?

Who really knows what’s happening in iraq, Syria, yemen,

or libya these days? our choice of news outlets also determines our

political leanings. Totally unbiased and objective news providers don’t

really exist. in the United States, the audience is polarized and in the Tv

Words By osama al-sharif

Media and society

With so many divergent news sources to choose from, how can we be sure what’s really happening in the world?

Tnews market you have Fox news, reflecting conservative Republican Party ideology and positions, and MSnBC speaking for liberals and rooting for Democrats. This same split exists in the world of print between The Wall Street Journal and The new york Times.

The other day i was engaged in a heated debate with another news junkie friend of mine over Syria and yemen. it soon became clear that when it came to finding out what was happening in these two conflict-ridden

states, he only trusted a single news provider, and one which conveniently shared his own political outlook.

in his case, it was the iranian-funded, Beirut-based Al Mayadeen channel. he’s not a unique case. i know many people who rely on one news source only; again an outlet that matches their own outlook on the world. it might be the Qatar-based Al Jazeera, or the official channel of hezbollah in lebanon, Al Manar. The same phenomenon applies to newspapers, both local and regional.

Such audience polarization is not new, but the conflicts of the past few years, especially in the bloody wake of the Arab Spring, have deepened the divide. The advent of sectarian struggle in most war-torn countries in the region has helped entrench audiences. in iraq, there are now tens of Tv channels and news websites. Almost all of them speak to a specific ethnic or religious group, and each promotes its own ideological agenda. Sadly, the situation in lebanon is not much different, with each religious sect, political party, or ethnic group in control of its own cluster of media outlets including newspapers, radio, and Tv and online sites.

in today’s Arab world, there are few truly independent news outlets, if any. Few report both sides of the story in an objective manner. it gets more complicated with coverage of controversial issues such as Syria, iraq, and yemen. My friend, with whom i had the heated debate, insisted on reciting the official Syrian regime, pro-iran, anti-Saudi storyline. he was unwilling to listen to the contrarian view point. i had similar experiences with many Egyptian friends who are also divided on issues such as the 25 January 2011 uprising, the victory of the Muslim Brotherhood in subsequent elections, and the military coup that deposed the first freely elected civilian president there. Again and until the banning of Muslim Brotherhood

media outlets in Egypt, each was hooked on a medium that reflected his or her own point of view.

But is this healthy? Entrenchment results in political grandstanding and ideological brinkmanship that leads to intellectual extremism. My job as a political commentator and analyst for over 30 years has taught me to read, listen to, and watch all points of view before forming an educated opinion. i was trained not to be biased, despite the difficulty of this, and to approach

every position carefully and with an open mind.

To form an educated opinion on Syrian events, for example, i would access many websites with divergent political leanings, watch as many news channels as possible, including government-run ones, so that i could contemplate the bigger picture. But that is what i do. it is my job. For ordinary citizens it would be difficult to expect them to switch between Al Mayadeen and Al Arabiya in order to comprehend what is truly going on in Syria. it’s sad that some news stations have become hostage to their own political agenda. Al Jazeera, for instance, has become so obsessed with the new regime in Egypt, which it vehemently opposes, that much of its news coverage is dedicated to regime opponents, even when there is little or no news value for the viewer.

The political fragmentation that’s taking place on the ground in many Arab countries is itself reflected in the chaotic state of Arab media today. no single news outlet will give you the complete picture. Those who seek to know the truth about yemen, iraq, libya, or Syria, in addition to other issues, will have to have an open mind and check as many media outlets as possible. otherwise, the state of polarization will provide half facts and half lies and leave audiences in the trenches detached from the truth.

tHE CHOICES WE HAvE AvAILAbLE tO US, FROM NEWSPAPERS AND 24/7 tv, tO RADIO StAtIONS AND COUNtLESS WEbSItES, HAvE COMbINED tO ENSURE A CONStANt FLOW OF NEWS AND INFORMAtION

tOtALLY UNbIASED AND ObJECtIvE NEWS PROvIDERS DON’t REALLY EXISt


Retail

W hen Cozmo first began business in Jordan back in 2003, there were only a few

players in a largely underdeveloped market, allowing the popular supermar-ket chain to bring something new to the table in terms of products and service.

By tapping into the growing con-sumer demand, Cozmo expanded from one large store at the Seventh Circle to six, after opening five smaller ‘Simply Cozmo’ neighborhood convenience stores in 2010. last month, this number grew to seven, with the opening of a large Cozmo store in Taj Mall that

replaced a branch of Spinneys, a regional supermarket chain owned by Dubai’s Abraaj Group.

“Right from the beginning we had ambition and we never planned to stop at just one Cozmo branch,” explained imad Bukhari, chief executive officer of ThE Group, the umbrella company which owns the Cozmo brand, as well as the BhS and hamleys franchises.

Cozmo’s customer base in Jordan has more than quadrupled over the last 10 years

With the opening of a major new branch in Amman’s taj Mall, Cozmo is forging ahead with an expansion plan that aims to cement its position as one of Jordan’s leading supermarket chains.

BY JANE HOSKiNGPHOTOGRAPHY BY ALAA’ AL-SUKHNY

Cozmo: Shopping for Success


Retail

AN AMBiTiOUS EXPANSiON PLAN it appears as though these initial plans of expansion are now in full swing. next year in spring, the Jordanian company will open another large store in Abdali Mall and is also increas-ingly looking to expand in the region. Already ThE Group opened its first Cozmo store in Kurdistan last year.

“That’s the beginning of an ambi-tious expansion plan in that part of the world,” said Bukhari, adding that while Kurdistan is the focus for now, they will look further afield in the future. “As soon as we are ready, we will start moving forward with these plans. We already have the brand registered across the Arab world,” he said.

According to Bukhari, Cozmo’s customer base in Jordan has more than quadrupled over the last 10 years, product turnover has increased around four to five times, and the Cozmo

Center at Seventh Circle, including the BhS store, has an average daily footfall of around 4,500 people.

But how did Cozmo reach this level of success in the first place? “When we began, the market environment was extremely fragmented, shopping trends were purely functional, and the market was very promotional. So anybody would shop anywhere,” explained Bukhari. “We could see there was an opportunity for experiential shopping to be introduced into Jordan.”

Bukhari said providing top notch customer service has been at the heart of Cozmo’s business strategy since its inception. he added that his chain’s 700-strong workforce greatly outnumbers that of its competitors. “We have more staff to serve the customers and make sure that the products are available all the time,” he said.

Breaking into the market and main-taining a strong foothold has required

Cozmo to respond quickly to changing customer demands and tastes. “in the past, customers were held captive to a small number of industry players, but they can now see beyond that, and what they want is quality,” said Bukhari, add-ing that with so many shopping options emerging, consumers have become more demanding over the years.

This has meant catering to a wide array of demands when it comes to products. “We have a huge variety of products in our supermarkets,” said Bukhari, explaining that this includes both imported high-end products as well as the more mainstream products. According to Bukhari, their customers have increasingly developed a taste for products with an added value. As a result, Cozmo has gone out of its way to stock health and organic items.

“it’s never been our attitude to push products on our customers, feeding them whatever we want,” Bukhari

said, adding that Cozmo has a depart-ment that looks for new products continuously, which takes on board suggestions from customers. in his role as the CEo, Bukhari also makes sure he is involved in this process as well. “i frequently travel with the team to exhibitions all over the world in search of new products,” he said.

To bring in high quality products from around the world, Cozmo has developed a number of partnerships with popular global brands. This includes a recent agreement with British multinational supermarket chain Tesco. These partnerships, Bukhari explained, are more effective for Cozmo than creating their own brand. “Many other supermarkets have their own brand label, but our customers are brand-driven consumers, so it wouldn’t make sense to put the Cozmo name on a tuna can or on a cereal box,” he said, adding that they prefer to partner with

strong brands they know they can trust.

COMPETiTiON iS GOODWhile Cozmo has no doubt achieved huge success in the Jordanian market, the competition is never far from Bukhari’s mind. “We have our own goals, ideas and ambitions, so we tend to follow our own path, but we always keep an eye on the competi-tion as well,” he said. Bukhari credits Carrefour’s entrance into Jordan as helping to structure the market, but he knows that Cozmo can’t afford to be complacent. “This is a dynamic business where you can’t just sit back and say: ‘i’m doing well’,” he said. “you have to continuously improve what you’re offering.”

There’s no official word as to why Spinneys closed its branch at Taj Mall. But some customers found its maze-like layout confusing, and there were clearly access issues

related to its location in a busy shop-ping mall that only has underground parking. Even so, Bukhari is confi-dent that the new Cozmo store will be a success. “There are a number of challenges related to operating a su-permarket inside a mall. Fortunately we have already addressed the bigger logistical challenges, in order to make it easier for our customers to navigate their shopping experience.” This has included redesigning the

entire layout of the store and a free valet service. “We would not have gone into it unless it was researched and studied,” said Bukhari.

As Cozmo moves ahead with its expansion plans, Bukhari is aware that they must continue to adapt to the changing trends in the market. he believes that as people’s lives become faster and busier they are increasingly looking for a fast shop-ping experience. “i think customers are starting to prefer smaller stores, closer to where they work or live. This has been the trend internation-ally and i believe that we can see it taking off here as well,” he said, ex-plaining that supermarkets, compact markets, and even neighborhood stores are winning out over the much larger hypermarkets. But Cozmo, with its ‘Simply Cozmo’ stores is already ready for this change and ap-pears prepared to take on any future challenge that comes their way.

We have our own goals, ideas and ambitions, so we tend to follow our own path, but we always keep an eye on the competition as well

Produce in one of Amman's Simply Cozmo stores


coverstory

Uber recently launched its massively in-demand smartphone app in Amman, allowing passengers in the capital to hail a ride at the touch of a button. But will it encounter the same resistance as it has elsewhere? And with several other similar services already available, what are its chances of finding major success? BY LAiTH ABOU-RAGHEBPHOTOGRAPHY BY ALA'A SUKHNY

Uber Arrives in AmmAn

or a growing number of Ammanis, the days of having to wait on a street corner to flag down a cab are becoming a

fast fading memory. This is thanks to the recent proliferation of ride-hailing apps and hotlines from the likes of Easy Taxi, Careem, and Taoseal Taxi, which quickly connect passengers with nearby drivers using location tracking technology.

The latest ride-hailing service to be launched in Amman comes from Uber, a company currently generating a huge amount of global buzz (and not a little controversy). Since launching its services in San Francisco in 2009, Uber has quickly spread to 311 cities across 58 countries. There are now more Uber cars driving around the streets of new york than the city’s classic yellow taxis. The company has been attracting mind-boggling levels of investment along the way, with some reports suggesting Uber is now looking to raise up to $2 billion in venture funding that would value the company at greater than $50 billion. if successful, it would become the world’s most valuable startup.

Uber has branched out to most major cities in the region, including Cairo, Abu Dhabi, and Jeddah. So why did the company decide to add

Amman to its list? “With Amman’s obvious congestion issues, we wanted to make sure that commuters had another transportation option which they could use,” Uber said in an email interview. “Amman was also an ideal market for us due to its young population and fast-growing tech community, making it an exciting and vibrant city for our operations.”

Uber said demand for its service in the city had been “amazing” since its April launch. Even though they

declined to provide specific numbers to back this up, there’s clearly significant consumer interest in ride-hailing services in Amman. Easy Taxi’s Middle East CEo Mahmoud Fouz told venture in March that his competing ride-hailing app had topped 50,000 monthly downloads, with one-third of Amman’s 12,000 licensed taxi drivers also having signed up to the service.

Transportation consultant hazem Zureiqat has become a regular user of Uber since its launch, and welcomes its arrival in the capital. “i think it’s

great that they started up in Amman. i think it raises the standard for this kind of transportation,” he said. “At the end of the day in terms of transport, we need mass transit and good public transportation. But it definitely doesn’t hurt to have these kinds of ride sharing services. i’ve heard people say they might not use their car for certain trips and use Uber instead. That translates into fewer cars on the road, fewer parking spaces that are occupied, so it has its

benefits in terms of easing congestion.”Zureiqat agrees with Uber’s assertion

that its service will prove particularly attractive to Ammanis who are forced to commute by taxis because the alternatives are so unappealing. “in Amman, because we lack a proper public transportation system, yellow taxis have played a role as a commuter mode. you don’t take a taxi to work every day if you’re in Europe or new york, for example,” he said. “But the level of service offered by yellow taxis (in Amman) is not the

Uber has branched out to most major cities in the region, including Cairo, Abu Dhabi, and Jeddah

F


best. So Uber has been able to offer a kind of premium service and can also potentially be used as a commuter mode. The prices are reasonable, so to a certain extent they could be used for regular trips and not just be seen as a ‘luxury’ service.”

it’s crucial to remember that Uber doesn’t actually own any of its cars, which is pretty remarkable considering its stratospheric valuation. Rather, Uber merely teams up with a local transport provider that agrees to abide by its standards and guidelines.

Unlike other cities, Uber is currently only offering its cheapest service—Uberx—in Amman. This means the car that’s sent to pick up passengers will likely be a no-frills Korean or Japanese mid-sized sedan. “The lower rates of Uberx makes our technology more accessible to more people and allows us to partner with a wider network of transportation providers who, as a result, can help grow their business,” Uber said. The company declined to state how many of its vehicles were in operation, but it did stress that its goal was to “match supply with demand.” At the time of writing, there appeared to be eight Uber cars available for hire on the Uber app’s GPS map screen.

The service charges a minimum fare of JD2. it then charges a base fare of JD0.70, followed by JD0.16 per kilometer. Uber concedes this is higher than a yellow taxi, but it believes a significant number of passengers are willing to pay a premium for its services. “We are giving Amman residents and visitors an alternative choice in transport, and our goal is to deliver on safety, reliability, and convenience and the overall quality of service,” Uber said. Also at the time of writing, Uber was offering one-way trips between Amman and the Queen Alia international Airport for a mere JD15, much lower than the JD20-22 or so typically charged by a standard yellow taxi. here, Uber is no doubt going after visitors to Jordan familiar with using its app in their home countries.

DRiViNG DiSRUPTiONUber hasn’t achieved its rapid expansion without treading on a few toes. licensed taxi drivers around the world have staged protests over an Uber service which effectively allows anyone to use their private car to pick up passengers, and charge them a considerably cheaper

fare. Many city governments have moved to ban this service, with Uber launching legal appeals.

When it comes to Jordan, Uber, like the rest of ride-hailing competitors, has opted for a more softly-softly approach to entering the Kingdom’s heavily-regulated transport sector. it hasn’t tried to introduce the same freelance-style service that has attracted so much ire from existing taxi drivers in cities like Paris.

Uber said it is licensed to operate in Jordan as a technology company and currently contracts out the use of its platform to local transport companies, including “well known” car rental companies. Whereas Uber’s competitor, Easy Taxi, only connects passengers with existing licensed yellow cabs.

Ever since it was set up, Uber has been very clear about what type of company it should be bracketed as. “As a technology company, we don’t employ or license drivers but only work with the existing licensed supply to provide them with the efficiency and reliability of the Uber app, helping customers get safe rides when they need it,” Uber said.

But Uber’s assertion that it’s not a transport company and therefore

shouldn’t be regulated as one is being challenged. “Uber is a technology, but it is a technology that has an impact on transportation … We’re taking our time to analyze, see, and study,” European Commission spokesman Jakub Adamowicz said at a news conference in April, after European Union regulators were asked to review complaints filed by Uber against

national laws it said are anticompetitive and were unfairly limiting its growth on the continent.

Uber said it hasn’t encountered any push-back against its services so far in Jordan. But it’s not clear if this will remain the case going forward when the company likely tries to expand—a move which could attract greater scrutiny of its business model, especially from taxi firms that pay thousands of dinars for their operating licenses. “it’s yet to be seen if there’s going to be any reaction from the taxis and their union, the land Transport Regulatory Commission, and GAM,” said Zureiqat.

GAM’s Director of Transport and Traffic Management Ayman Smadi appeared a little wary of Uber’s arrival. “Uber claims to offer some of the missing service qualities in certain markets, but it comes with a lot of controversy, including the use of private vehicles, security, and insurance, to name a few,” he said.

in late March, Uber quickly moved to introduce new passenger safety measures following allegations of sexual assault made against a driver in india. “Safety is our number one priority, and we’re always working hard to improve our safety processes to ensure that we are connecting riders with the safest ride on the road,” Uber said. “We have a zero tolerance approach to instances where rider safety is compromised and we immediately terminate partnerships with these drivers. Drivers are aware

of this zero tolerance approach and accordingly the system encourages professional and safe conduct by drivers.” in addition, Uber said all the drivers that they partner with are licensed and vetted by the local authorities, and safety features built into their app allow riders to see the driver’s name, photo, and car license plate before they get into the vehicle

car. Riders can also share the route and estimated time of arrival with family and friends.

Fundamentally, Smadi believes the answer to Amman’s transport challenges lay in the better utilization of existing resources, rather than adding more vehicles to the mix. “We believe Amman already has a large number of taxis but more work is needed on upgrading the mode of operation, such as call-in services and stricter driver and vehicle standards,” he said. “Although the regulations are

in place to accomplish this upgrade, market forces and fragmented ownership severely handicap more effective services.” Smadi added that GAM was working with a group of transport operators and tech companies to implement a city-wide taxi hailing service that will include navigation and tracking features.

Besides regulatory challenges, another potential hurdle standing in the way of Uber achieving wide-spread popularity is its decision not to accept cash payments for journeys in Amman. All of its competitors do, though. Zureiqat believes this means Uber will not in the immediate-term

achieve the same mass appeal, or have quite the same disruptive business effect, as it’s had in other countries. “Many people here don’t have credit cards and bank accounts. i don’t think it will reach a critical mass where it will represent serious competition to yellow taxis at this stage,” he said.

on this point, Uber insists it’s ahead of the curve: Jordan is steadily and inevitably becoming a cashless economy, so it believes its digital payment-only stance will win out in the end. “Uber riders all over the world have embraced this system, and we think the fact that we are cashless is extremely valuable. in this region in particular, there is a general trend towards digital payments,” the company said. “With this system, riders don’t have to worry about carrying cash, and can use the same Uber app and payment options in any of the 300 cities around the world that we operate in. So while we are always exploring additional payment options, we also believe that we are at the leading edge of technology.”

There’s no doubt that Uber will find a ready market for its services

in Amman, especially among its wealthier residents willing to pay a premium for a little extra comfort and convenience. Ride-hailing apps of its sort are proving incredibly popular elsewhere (Google is now even looking to develop one), and there’s no reason to assume Jordan will be any different. But given that, if Uber ever intends to expand its presence in Amman and push for mass market appeal, it will be interesting to see how successfully this disruptive company will navigate the city’s transport sector, which remains both heavily regulated and dominated by vested business interests.

coverstory

"Many people here don’t have credit cards and bank accounts. I don’t think it will reach a critical mass"

"We are giving Amman residents and visitors an alternative choice in transport,

and our goal is to deliver on safety, reliability, and convenience"


Who are you targeting in the Jordanian market?

We don’t really have a target audience. Transport is a daily necessity for most people and we are here to provide another choice in moving around the city, safely, and reliably via our technology. For riders, we are providing a very high level of safety, transparency, and reliability in getting around. We get lots of feedback from riders about this being one of the most convenient ways they have gotten around Amman. For drivers, we are providing additional economic benefits and flexible work hours. in addition to bringing quality of safety and reliability to the market via our technology, we think we will be empowering drivers; helping make their time more efficient, and even more flexible so that they are working at times that best suit them. Furthermore, 80 percent of every trip goes back to the driver.

How worried are you about going up against other ride-hailing services like Easy Taxi and Careem?Firstly, we think competition is a good thing. it makes us all up our game, work hard, and in the end it is the riders and drivers we partner with that stand to win. We operate in over 310 cities around the world; that means you can use the Uber app in any of those cities in the exact same way you use it at home. it makes traveling to foreign countries much easier when you don’t know the language or how to get around. All you have to do is make a request, enter the destination, and you are there, hassle-free. We also like to think outside being a technology in the transport space—if we can deliver a car to you in under 10 minutes, think what else we are able to do.

You partner with local transport companies in Jordan. How do you go about selecting which firms can use your technology and how do you ensure they abide by your guidelines?We partner with local transport companies and the drivers and cars they provide. Each driver goes through a rigorous screening and background check by a member of our team, in addition to providing a valid driver’s license, as well as a clear judicial record document, before they can start. When a rider requests a ride, they see the driver’s name, photo, and car license plate before even getting in the car. They can then share their route with family and friends via the GPS enabled map.

Riders rate and give feedback at the end of each trip so that we continue to improve and offer you the ultimate experience.

Why has Uber encountered so much opposition from licensed taxi drivers and city officials around the world? Are their

objections at all justified?Uber is changing a market that has been traditionally quiet. We’re proud and excited to be bringing more innovative mobility options to Amman as part of its existing transport market. in many of the global markets, transport policies were drafted before smartphones and apps even existed and we’re looking to work with regulators to update regulation for the smartphone era in those places. We’re committed to working with policy makers to promote the benefits that platforms like Uber can bring to cities, and help them recognize how new technology can increase mobility in both urban centers and rural communities.

What impact do you hope Uber will have on Amman’s transport network?one of our visions is to make transport safe and reliable enough that more people choose to leave their cars at home and opt to request a ride via Uber instead.

coverstory

in the driving seatSebastien Wakim, Uber General Manager for Amman and Beirut


haled Kanaan, an ambitious and proactive Jordanian businessman, has been a frequent visitor to iraq

since 1989. he started off small through a partnership with General Electric, supplying iraq’s Ministry of health with medical equipment during what he calls the “gold rush” period that followed the end of the iraq-iran war when investment began to flow back into Baghdad. Kanaan, who was 24 at the time, spent his days going back and forth between Amman and Baghdad, even after the iraqi invasion of Kuwait and throughout the 13-year economic sanctions. The business was operated through a Jordanian branch office registered in iraq, which by 2003 had

employed a permanent technical team numbering 40 fully trained techni-cians, all of whom were iraqis, and having serviced and installed medical equipment in more than 200 hospitals across the country. Come the US-led invasion, Kanaan shifted interest, operating and managing a sister company that offered logistics and life support services to US troops residing in over eight camps across iraq. The company provided them with all types of services, including cleaning, laundry, sanitation, general supplies, recreation facilities, and construction. he takes particular pride in the fact that his company was one of the first Jordanian firms to have ventured into the volatile iraqi market. “We differentiated ourselves from others in that we are a company that had invested in iraq, while others traded with iraq. That always gave us some

EASinG invESTMEnT in iRAQMomentum seems to be building behind Khaled Kanaan’s ambitious plan to break down barriers of entry into Iraq to promote greater cross-border trade, investment, and cooperation. but the prominent Jordanian businessman admitted that convincing more of his peers to bet on the war-torn but opportunity-rich country wasn’t easy.

BY DiNA AL-WAKEEL

K

There is a clear consensus that Iraq lacks just

about every type of service


sort of a distinguishing edge.”Today, Kanaan, the managing director of Mawared investments, is leading the iraq-Jordan-US (iJUS) roundtable initiative which he de-signed last year to facilitate the work of Jordanian and US companies want-ing to invest and do business in iraq, a promising and ripe market offering limitless development opportunities. As part of the wide-ranging drive, Kanaan is encouraging Jordan’s business community, particularly companies that provide soft services, to step into the breach and cover for what’s clearly lacking in iraq’s highly underserved market. So far, Kanaan’s initiative has attracted the backing of scores of blue chip firms, banks, and business groups, including Microsoft, Ernst & young, and Aramex.But Kanaan faces big challenges putting the iJUS into practice. Businesses need stability and a stimulating investment climate to thrive. And unfortu-nately, both seem to be missing in Jordan’s neighbor, which is oil-rich but war-ravaged. The iSiS threat still looms large, preventing the iraqi government from trying to conceive and implement more welcoming investment regulations and policies. Despite these obstacles, iraq remains a lucrative market for many inves-tors. its GDP went from $500 in 2003 to $6,800 a decade later, while its oil production reached a record high in April with 3.08 million bpd, generating $4.8 billion in revenue, according to Reuters.

BUiLDiNG AN ALLiANCEThere is a clear consensus that iraq lacks just about every type of service, and it being one of Jordan’s main trade partners and a country that the Kingdom shares borders, culture, and a language with makes

it more convenient for Jordanians to invest there. The iJUS initiative aims to promote Jordanian expertise to cover for infrastructure constraints across six service sectors, including finance and insurance, legal and profes-sional, engineering, healthcare, iCT, and logistics and transportation.The initiative also urges Jordanian businessmen to cooperate with their iraqi peers to help iraq with its development drive instead of dealing with the government directly.“The problem has always been that when we dealt with iraq, we focused on approaching the government directly. The power is very central-ized and it’s a procurement type of business. This is where iraq failed,” he said. “There was no [sufficient]

infrastructure of local supporting services; efficient SMEs were scarce, it was difficult to qualify a law firm capable of international legal proceedings, and procuring services of an accounting firm operating on inter-national standards would have posed a challenge.

This is where my initiative comes in; Jordanian businesses can assist in filling or at least substantively narrowing the gap.”What differentiates this from other initiatives, believes Kanaan, is that it suggests a delivery mechanism. “For instance, if you have a project like building a road, you will require particular tools to help you deliver the job; banking, insurance, legal service, logistics, and transportation.”one might ask what’s in it for the Americans and iraqis? According to Kanaan, for US firms who are already operating in iraq on larger contracts or wishing to penetrate the iraqi market, they will need partners or subcontractors to support them with essential soft services, which

the Jordanians have a good track record in. As it is too expensive and too risky for them to deploy their people, Jordanians have the expertise and could be willing to be their “boots on the ground,” he said.Kanaan approached some 15 to 20 US firms and organizations that have operated in iraq, to ask them about the obstacles that made their work harder to implement. They all confirmed that the lack of supporting infrastructure was one of the biggest hurdles. As for the iraqis, this initiative is built on Jordanian-iraqi private sec-tor cooperation. “iraq is fragmented,

each city and region has its own power brokers, there’s no way that anyone from outside can manage a relationship with everyone. however a local partner can manage this relationship in a more efficient manner,” he said.

GREAT OPPORTUNiTiESAlready, besides Kanaan, some Jordanian businesses have also ventured into the iraqi market.one such example is Capital Bank, which has invested in iraq since 2010. They are the only Jordanian bank that has a presence in iraq,

thanks to a 62 percent ownership of the national Bank of iraq.“our business has always been export

and finance, so it’s only normal that iraq is the most important market,” the bank’s General Manager haytham Kamhiyah, told venture.

Kamhiyah is also a supporter of Kanaan’s initiative, believing that there’s a lot for Jordanian business-

men to do in iraq. “After the war, iraq’s infrastructure was badly damaged, so there is a need for every-thing. Jordanian businessmen across

Jordanian businessmen

across all sectors can benefit a lot, whether it is in food supplies,

pharmaceuticals, banking, and trade

Despite the lucrative opportunities it offers, many Jordanian businessmen

have restricted their investment to Kurdistan

Since the US-led invasion, iraq's infrastructure and services sectors have been badly damaged


all sectors can benefit a lot, whether it is in food supplies, pharmaceuticals, banking, trade, everything.”The bank has actually been help-ing Jordanians to do business in Baghdad, irbil, Suleimanya, Kurdistan, and Basra. They also recently opened a branch in Um Qasir, iraq’s one and only port, with more branches planned for other areas to serve both Jordanian and iraqi businesses. Kamhiyah cited an initiative they led

two years ago, when they had their board meetings of both Capital Bank and the national Bank of iraq in irbil. For the meetings, they invited clients and non-clients to meet with iraqi businessmen and officials and encour-age partnerships. “We as Jordanians have a huge advantage,” said the GM. “We are neighbors, we have histori-cal trade relations, historical family relations, and wealthy iraqis have families and homes here.”Saad naji, vice president and

general secretary of the iraqi Business Council in Amman, agreed. he said since Jordanian factories and contrac-tors cannot compete with iraqis, then their best bet is in services. he called on Jordanian businessmen to tap into the different opportunities in his country, citing the lack of decent hospitals across iraq, as well as the absence of high-end hotels in the south, particularly in the Shiite holy sites of najaf and Karbala, where mil-lions visit every year and are forced

to stay in shabby hotels. like Kanaan, naji believes that the right way to do it is by partnering with iraqi businessmen, who know how to deal with the government and know the ins and outs of the required procedures.“i always advise Jordanian companies to find iraqi partners,” said naji, who is also the chairman of Rafidain Construction and Engineering Company. “in this council, we have more than 3,000 companies, all of whom work in iraq. These mostly giant companies can be partners and

they work across all sectors.” The council is already doing its part by ar-ranging meetings between Jordanian as well as foreign companies with their iraqi peers in Amman so that they don’t have to go scouring for investment opportunities. They also organize several confer-ences each year in the Kingdom to highlight certain sectors where opportunities are abundant.

STiLL WARYDespite the lucrative opportunities it offers, many Jordanian businessmen have restricted their investment to Kurdistan, holding back from the rest of iraq. The main reason that many cite is obviously the lack of security.

“What’s holding them back is the security situation,” said Kanaan. naji particularly named iSiS as the real problem, but he added that it has spread to become a regional issue that needs to be solved. But Kamhiyah believes that iraq has always been problem-ridden, though that hasn’t deterred many Jordanians from investing there down the years. “There are always challenges in iraq and Jordanians have been very resilient, they are very smart, and they’re used to dealing with such challenges,” he said. “We have 32 Jordanian staff there and most of them are in Baghdad. We also have staff in Basra, where the oil is and where all the companies are located. Security is huge there. The potential is also huge.”Besides security, or the lack thereof, a weak and fractured central govern-ment that has poured its resources into funding the war on iSiS and is implementing reforms at turtle’s speed, could also be discouraging many Jordanian businessmen from venturing east.“The economic decisions taken by

the parliament are all the right deci-sions but when it comes to imple-mentation they’re not there,” said Bassem al Salem, Capital Bank’s chairman, at a session dedicated to iraq during the World Economic Forum. “i think the private sector needs commitment from the govern-ment that they mean what they say and law and order is extremely important as well.”Despite these enormous chal-lenges, and the government’s lack of liquidity, money is still available for businesses wanting to invest in iraq. According to naji, South Korea is already investing in iraq and is even providing loans to any company wanting to invest there.

in further efforts to tackle the problems prohibiting investors from investing in their country, iraq’s private sector has stepped up and is currently establishing an advisory board to help the government change regulations, or even privatize public companies, a drive they call the restructuring of iraq.“We are advising them on where they should start with privatizing the public sector,” said naji. “This is also an op-portunity for Jordanian companies. We [believe] that we should start with the companies that are profitable to attract investors and to provide better services to citizens, like in the telecommunica-tion sector, roads, etc.”Although everyone venture spoke to had their own reservations about operating in iraq, one thing they all agreed on is that now is the time to invest. Put simply, those brave enough to run the risk will reap the benefits before it stabilizes and the rest of the world moves in. “The areas with problems are always the ones that have the money,” said naji. “now is the right time, even if the security situation is not great.”

There are always challenges in Iraq and Jordanians have been very resilient

Unlike most of iraq, Kurdistan has escaped much of the violence and received more investment


Despite the vital role it can play in contributing to a company’s growth and development, human resource management still seems underappreciated in Jordan’s corporate culture.

Valuing Good HRBY JANE HOSKiNG

management

enerous maternity and paternity leave, an endless supply of free gourmet food, and the ability to bring your pet to work. These are just

a few of the perks of working for Google. Some believe the mega successful tech giant can teach many companies in Jordan a thing or two about the importance of quality human resource management.

“My assessment is that hR in Jordan is at a version 1.0 level in comparison to the world, which is moving towards hR 4.0,” said vishal Choudhary, vice president of hR at iT outsourcing company Aspire. And he said the problem isn’t limited to Jordan, but is part of a wider regional deficit. “hR is still considered to be a secondary function here.”

Choudhary also believes that the definition of hR is often far narrower than what it should be. “The admin-istrative and personnel aspects of the role can be so time consuming that hR managers often don’t have time to concentrate on other hR func-tions,” he said, noting that it is these other functions which should be the main focus of the role.

it’s a view shared by Mohammad al-Ta’mari, president of the Jordanian human Resources Management Association (JhRMA). “Some employers believe hR consists only of handling medical insurance, social security, contracts, terminations, or payroll,” he said.

But while Rasha Barakat, director of human resources at Zain, agrees there’s still a lot of work to be done,

she believes matters are heading in the right direction. “There are different initiatives that are being implemented to make sure there is a focus on hR in the region,” she said, adding that there were a lot of talented hR managers in Jordan and the field has a lot of potential.

REEVALUATiNG HRSo other than administration and personnel, what exactly should an hR manager be doing? According to Choudhary, organizational develop-ment, which includes organizational culture, employee engagement, and talent management should be the main focus of an hR manager.

Barakat similarly believes that an hR manager should have a very active role in encouraging both

Gorganizational and personal develop-ment. “hR needs to open up the right communication channels in an organization. it needs to be a strong entity that people can engage with, and it needs to invest in career devel-opment opportunities for employees,” she said, adding that it is these things that create a healthy company culture, enabling people to perform.

According to Barakat, a company should neither focus purely on em-ployees nor on business. “you need to strike the right balance between both,” she said, explaining that hR managers need to continuously talk to the top managers of their company to understand where the organization is heading, while also understanding employees to help them deliver.

in order to carry out these functions

of organizational development, al-Ta’mari said an hR manager must be active in relaying the value of their role to the workforce. “it’s the role of an hR manager to advertise what they are doing inside the organization,” he said, adding that in order to do this effectively, hR managers must have a clear idea

about what they do themselves. “As hR managers, if we want to develop the profession we need to know the functions of hR,” he noted.

Without implementing the right hR practices in a company, Barakat believes it won’t be in the best position to grow. “People are the most important aspect of any orga-nization. They are the competitive advantage and they are the drivers of the business,” she said. “if your hR policies are fair and consistent, and if your people are well taken care of then automatically these people will be more engaged,” she said.

At Aspire, Choudhary is very fo-cused on implementing hR practices that enhance business performance. he uses a sophisticated tracking and reward system to measure employee performance and to help people be more motivated. The company also has its own phone application to encourage positive interactions between employees. For example, everyone in the company gets points for sending or receiving thank you notes, which then make up 10 percent of their performance appraisal.

“This is how you build a culture of recognition and appreciation,” said Choudhary, who doesn’t believe in leaving employee behavior to chance. “Everything is target-based in the company; everyone’s role and tasks,” he said. This, he insists, allows employees to monitor themselves and improve their performance.

Despite the evident need for active

hR executives in companies, Barakat said their work is often underappreci-ated by top management, something she believes needs to change. “They should engage them in the decision-making processes and ensure that they have a voice on the top manage-ment team,” she said. For this to happen, al-Ta’mari said hR execu-

tives need to make this clear to their managers. “it is hR’s responsibility to clarify their roles and convince their employers that they deserve a seat at the table beside the upper management staff,” he said.

LACK OF EDUCATiONAccording to al-Ta’mari, one of the main reasons that hR is not a thriving field of management in Jordan is because of the lack of education in this field. he said that while there are many studies of business management in the Kingdom, there is no bach-elors or masters degree that focuses specifically on hR management. “The universities here advertise that they have hR management, but we have gone through the curriculum and it’s business management,” he explained.

The lack of education and profes-sional development opportunities in hR is one of the reasons that al-Ta’mari founded JhRMA back in 2010. The association, which has now reached approximately 250 members, conducts trainings, seminars, and workshops that bring hR managers together to learn more about their field and to share their experiences.

This year, al-Ta’mari hopes the association will be transformed into a union, putting it on the path to engage more people in the hR profession. he’s optimistic about the future of hR in Jordan in the years ahead. “We’re on the right track and we are better than a lot of countries in the region. But we do need to improve,” he said.

hR needs to open up the right communication channels in an

organization


hotwheels review

its level waistline allow for good visibility, and its long arcing roofline, estate body style, and subtly bulging wheel-arches lend a sense of sculpted and well-integrated solidity.The RS6’s 4-liter twin-turbocharged v8 engine develops 552 BhP at 5700-6600 rpm, and a 516 lb/ft torque throughout 1750-5500 rpm tidal wave. With short gas flow paths, the RS6’s twin-turbos spool swiftly with imperceptible turbo lag from tick-over. Abundantly generous through its broad mid-range, the RS6 overtakes with

effortless ease and charges through wind resistance with indefatigable intensity through to Autobahn speeds. its urgent build-up is underwritten by its muscular mid-range and accompanied by throaty growls and bellows in ‘Dynamic’ mode. With Quattro four-wheel-drive sending 60 percent power rearwards for tidier, more agile handling, the RS6, however, reallocates power distribution front, rear, and along the rear axle for unimpeachable traction and grip. it takes winding switchbacks like a rollercoaster on rails. The RS6 attacks corners with relentless commitment, while adaptive air suspension tightly controls body roll in ‘Dynamic’ mode. Smooth riding in ‘Comfort’ mode, air suspension takes the edge off firm low profile tires. Buttoned down at speed, through corners and on rebound, the RS6 also benefits from quick, meaty, and direct steering tireless brakes.The RS6, a luxurious high tech hauler, features suede roof-lining, quilted leather seats, carbon-fiber and metal accents, luxurious textures aplenty, and sophisticated sound cancellation. it is equipped with extensive entertainment and convenience options, including optional Bang and olufsen sound system. The spacious RS6 even accommodates a generous 1,680 liters of cargo with rear seats folded. it provides superb seating

support, position, and versatility, while adjustable driving mode infotainment screen menus are user-friendly. Revised for 2015, the RS6 receives mildly redesigned lED headlights, acoustic window lamination, and an upgraded infotainment system with faster processing and 4G mobile Wifi connectivity.

sPeCsengine: 4-liter, twin-turbo, direct

injection, in-line v8-cylinders

gearbox: 8-speed automatic, four-wheel-

drive, limited-slip rear-differential

Power, BHP (Ps) [kW]: 552 (560) [412]

@5700-6600 rpm

torque, lb/ft (nm): 516 (700) @1750-5500

rpm

0-100 km/h: 3.9 seconds

top speed: 305 km/h

fuel consumption, combined: 9.6-liters/100

km

CO2 emissions, combined: 223 g/km

length: 4979 mm

Width: 1936 mm

Height: 1461 mm

luggage volume, min-max: 565-1680 liters

suspension: Multi-link, adaptive air

dampers

Brakes: ventilated, perforated discs

tires: 285/30R21

The go-to brand for high performance premium station wagons—or Avant in Audi-speak—Audi was an early proponent and trendsetter with the 1983-91 200 Quattro Avant and 1994-95 RS2. The RS6 is a case of Audi at its best, and is two, or more, cars rolled into one. it also doubles as a luxury executive car; blindingly swift yet cavernously spacious for a family of five, plus luggage.The RS6 is refined, unruffled, and reassuring at speed and unyieldingly grippy and committed through corners.

Belting out a brutal 552 BhP, the twin-turbocharged RS6 is, however, relatively economical with 9.6l/100 km economy, courtesy of direct fuel injection, a traffic stop-and-go functionality, and seamless automatic cylinder deactivation when cruising. it rockets from standstill to 100 km/h in 3.9 seconds, yet is one of the safest cars around, with its all-weather Quattro road-holding complemented by a raft of passive safety features and extensive sophisticated semi-automated driver-assistance systems.

Moody and menacingly assertive, the RS6’s design elements converge on its charismatic trapezoidal grille. The RS6’s grille, which is tall and shield-like, is the focal point for its sharp low air splitter, chiseled flank character line, squinting browed headlights, and bonnet ridges. The RS6 is classy but muscular, with flourishes of brushed metal details, and it features vast tarmac gripping 285/30R21 footwear, huge flared lower intakes, gill-like vents, large rear air diffuse, and big bore dual exhaust tips. Meanwhile,

AUDI RS6 AvANt

suPeRCaR station Wagonthe RS6 is a family work horse bred for speed.BY GHAiTH MADADHA


Coffee kiCksthere are now more ways than ever to get your daily dose of caffeine. Here are four excellent coffee machines that will have you whipping up barista grade espressos in no time. BY LAiTH ABOU-RAGHEB

thecuttingedge

2Gaggia Baby Class www.gaggia.comNo list of quality coffee makers would be complete without Gaggia getting a mention. this compact counter top machine from the famed italian manufacturer comes with a double heating system for zippy espresso preparation, a built-in milk frother, plus, for anyone strapped for time, a special filter for Gaggia’s own range of coffee capsules. The BoTTom Line: don’t be fooled by its name, the Gaggia Baby class is a decidedly grown up coffee machine. Price: $350

1Nespresso Pixie www.nespresso.comNespresso machines and their accompanying range of shiny coffee capsules have become pretty ubiquitous of late, no doubt helped by their George clooney-backed ad campaign. matching its namesake, the Pixie is the smallest Nespresso machine on the market. But it still comes with a powerful 19 bar pressure pump and a thermo block heating unit that combine to consistently produce a quality cappuccino.The BoTTom Line: if it’s good enough for George (and amal), it’s good enough for us.Price: $220

review

3Kitchen Aid Pro Linewww.kitchenaid.comthis hulking and delightfully retro coffee machine from america’s Kitchen aid comes with dual independent boilers, an adjustable frothing arm, cup warmer and frothing pitchers especially designed to create latte art. the machine is available in three bold colors. We prefer the one that comes in candy apple red.The BoTTom Line: Built like a tank, the Kitchen air Pro Line will likely keep pumping out fine cups of coffee for years.Price: $1,300

4DeLonghi Gran Dama Avant Esam 6700www.delonghi.comif you want a high-end cup of coffee, but can’t be bothered to master the fine art of making one, then you might want to invest in a fully-automated coffee machine like this one from deLonghi. simply pop some coffee beans in the top, press a button and wait for it to work its magic. it’s even a cinch to clean thanks to its removable water tank, drip tray, and used coffee container. The BoTTom Line: Pricey, yes. But having your own robot barista was never going to come cheap.cosT: $3,000


http://www.delonghi.com/Global/images/products/Hero%20images/delonghi-gran-dama-avant-hero-new.jpg

classifieds pressroom executivereel

From Beirut to Amman “Ktir Salbe Show” at Landmark during Ramadan

As part of their Ramadan program this year, Landmark Amman Hotel and Conference Center announced during a press conference yesterday that it will be hosting the Lebanese satire comedy “Ktir Salbe Show” at their Royal Hall directly after Iftar. Performed by a group of well-known Lebanese comedians (Fady Charbel, Dolly El Helou, Joanna Karaky, Hussein Mokaddem and Elias Rahi) the “Ktir Salbe Show” offers comic interpretations of real life situations, and tackles hot-button social issues in sketches that cover a range of topics relevant to Arabs at large, and Jordanians and Lebanese audiences in particular.

Introducing the New Frederique Constant Classics Slimline Automatic Collection

When something looks this good, this stylish, this downright timeless, it just has to be expensive, right? Well, the designers at Swiss watchmaker Frederique Constant’s manufacture have put their considerable talents to remarkable use once again. The result? A new range of watches that “looks like a million bucks,” as they say in America. In the case of the new Frederique Constant Classics Slimline Automatic Collection, however, it’s not just the incredible good looks of the new watches that will turn heads. The price tag will also cause quite a few double-takes.


pressroom

GRAND LANGE 1 MOON PHASE Available at Luxurya Abu Shakra

The new GRAND LANGE 1 MOON PHASE gives the moon-phase display, which, by the way, is designed to remain accurate for 122.6 years, distinctive prominence on the dial. A patented coating process for the lunar disc endows this astronomical

complication with a remarkably lifelike appearance. The moon is a fascinating celestial body that has been preoccupying astronomers for time immemorial. It is not only responsible for the tides, but also influences the life rhythms of numerous creatures and plants.

Zain Jordan and Ministry of Information and Communications Technology and Palma sign MoUto achieve e-transformation of Governmental Transactions

Zain Jordan signed a memorandum of understanding with Ministry of Information and Communications Technology and Palma, on the sidelines of the World Economic Forum, to support the e-transformation of government transactions by providing electronic services to Jordanians through various applications and smart phones, in a contribution to the development of the national strategy for e-government.

pressroom executivereel

UCA Celebrates its First High School Graduation CeremonyUnder the patronage of Her Royal Highness Princess Sana Asem, the school of Universal Civilizations Academy (UCA) held its first commencement ceremony for its Class of 2015 at the Four Seasons Hotel, May 30. The intimate ceremony with approximately 200 attendees, including the Board of Directors, the administrative board, a group of teachers, parents, and students, recognized and honored the graduating seniors as well as their academic achievements through the year. During the ceremonyour students entertained the audience with memorable graduation speeches, entertaining songs, and a pleasant folklore performance.The princess showed gratitude towards the educational and academic efforts made by the school and its role in the preparation of a generation able to face the world. HRH awarded the American High School Diplomas to the Class of 2015.

Umniah integrates into Bango Payment PlatformCambridge, UK & Amman, Jordan. June 8th 2015. Fast-growing Jordanian Mobile Network Operator Umniah has chosen Bango Payment Platform to deliver app store carrier billing. Umniah plans to activate a range of app store connections through Bango’s platform in the upcoming period, and begins with today’s launch of Microsoft’s Windows Phone Store. Umniah subscribers using Windows Phone Store can now enjoy one-click carrier billing, charging the cost to their phone bill, without the need for credit cards or to register personal details.


pressroom

LG Electronics Unveils its New Flagship G4 Smartphone during Exclusive Launch Event for Mobile Phone Dealers and Media Representatives

Prior to its official launch in the Jordanian market, LG Electronics recently unveiled its latest award-winning, 4G-enabled flagship smart phone, the LG G4, during an exclusive event for LG’s mobile phone distributors and

local media representatives, held at Prime Cinemas’ Baraka Mall location. The launch event included a diversified and entertaining program, which gave audience members the chance to gain experience and familiarity with the mobile’s many stand-out features.

Orange Jordan, eLEARNMENT launch pilot e-learning program

at four schools in the KingdomOrange Jordan recently signed an agreement with the Ministry of Education and Jordanian software development company, eLEARNMENT, to launch a pilot e-learning program at four public schools in Amman, which will allow students to completely replace their paper-based curriculum with purely digitized versions. The agreement falls under the umbrella of the ministry’s flagship e-learning program, Minhaji. Through the pilot program, which is currently being tested by students in grades 4 to 6 at several schools in the Kingdom — including Akef Al Fayez, Um Habiba, West Shmeisani Elementary, and Bayader Wadi El-Sir Elementary School for Boys — Orange will provide students with eLEARNMENT’s electronic syllabus and various interactive applications, all of which are presented through tablet devices offered by BCI, the official Samsung dealer in the Kingdom.

Samsung: Staying safe in the virtual marketplace

Today’s working environment is considerably more fluid and flexible that is has ever been. There are ever-increasing options that allow employees to stay connected to their working environment with whatever device they should choose. Though this provides a greater degree of adaptability and collaboration for employees across offices and geographies, it also leads to new data security challenges for the company. The growth of Bring Your Own Device (BYOD) has increased significantly in recent years. In the MENA region, it is expected to grow from USD 11.1 billion in 2013 to USD 38.03 billion by 2019, according to a report by Micro Market Monitor.

Samsung Electronics and Universal Pictures Announce Global Marketing Partnership with Amblin Entertainment’s Jurassic World

Samsung Electronics Co. announces its global marketing partnership with Jurassic World, the long-awaited next installment of Steve Spielberg’s groundbreaking Jurassic Park series. Samsung presented exclusive content from the epic action-adventure on its revolutionary SUHD TVs at retail stores in U.S ahead of the release date. As part of the cross-platform partnership, Samsung also had a presence at the Jurassic World premiere and post-party. “Partnering with Universal Pictures provides us with a unique opportunity to show our innovative technology and create an integrated marketing campaign tied to one of the biggest movies of the year,” said Won Pyo Hong, President and Chief Marketing Officer, Samsung Electronics.

executivereelMedLabs launches “Sehtak Bil Denia – Ramadan” Checkup PackageMedLabs, the leading network of

accredited medical laboratories in the region, launches a special checkup package on the occasion of the Holy Month of Ramadan. The checkup “Sehtak Bil Denia – Ramadan” includes a variety of tests that include blood sugar tests, lipid profile, kidney function tests and Vitamin B12. The aim of this campaign is to further promote healthy habits and practices of preventive medicine, particularly during this holy month of fasting.


Introducing the Four Seasons App: Customisation in the Palm of One’s Hand, Powered by the People of Four SeasonsLong the leader in personalised service in the luxury hospitality industry, Four Seasons is now offering guests an opportunity to customise their stay on the go with a new, multi-functional, content-rich global app. With just a few taps, travellers can access a wide array of services and personal options wherever and whenever they wish. “With this innovative new App, Four Seasons continues to enhance the guest experience, setting the standard in luxury digital service delivery,” says Allen Smith, President and CEO, Four Seasons Hotels and Resorts. “Developed based on guest insights and extensive testing, the Four Seasons App is user-friendly and feature-rich, with the services guests have told us they most desire, such as checking in and out with ease.”

2015, MADE IN VINTAGE.1931 Chrono Vintage. Adding « 2015 » to the name of this new timepiece from Louis Erard would make the Watchmaker’s intentions clear even before contemplating it. Each look at this latest chrono sends us time-travelling between past and present. Its design is steeped in the spirit of the 1931 collection - named for the year the company was founded - with a sobriety that only heightens its functionality, a polished steel case and rounded Arabic numerals echoed by hands in the same silver tones. Yet this is a strikingly modern watch too, from its assertive all-over black to its athletic contours, measuring exactly 42.5 millimeters in diameter, together with a Valjoux movement and a black leather strap. A subtle but seriously masculine watch that relives the past right here in the present.

Embrace the spirit of Ramadan with Marriott International properties across the Middle East & Africa.Whether you’re looking to break your fast by enjoying superb cuisine in a stunning setting or hoping to cool off with a Ramadan getaway, let Marriott International’s range of properties across the Middle East and Africa, be the destinations of choice for you. A family-run business, Marriott International knows all about the importance of spending time with loved ones during the Holy Month and understands the importance of having the right venue with the right offering in order to do so.

Audi Challenges Arabia – To dare is to dream As a first and exclusive for the Middle East region, Audi Middle East have launched a once in a lifetime opportunity to nominate an Audi challenge that will become a reality for their fans.The micro site was launched on 4th June and invites all who dare, to name the challenge of their choice and become part of Audi history. Audi Middle East have announced their Audi Challenges Arabia campaign through a bespoke micro site to capture the ideas of their fans who are challenged to nominate possible stunts that Audi can activate during 2015. Over the next few months, the winners from each of the campaigns will be invited to be part of making their Audi challenge become a reality

Mahmoudia Motors Showcases Land Rover’s New Discovery Sport in Jordan during Family Adventure Event The sole and official dealer of Jaguar and Land Rover cars in Jordan - showcased Land Rover’s New Discovery Sport during an exclusive event that gave the Kingdom’s off-roading enthusiasts and their families the opportunity to experience first-hand Land Rover’s most versatile and capable compact SUV yet. Held at the Bisharat Golf Course, the full-day event enabled attendees to witness the vehicle’s nimble all-terrain performance. Three lucky raffle winners also got the chance to test the SUV’s prowess for themselves for a full weekend on a 5-star Wadi Rum camping trip.

GUCCI TIMEPIECES & JEWELRY INTRODUCES HORSEBIT WATCHES IN PINK GOLD PVDGucci’s horse bit motif, one of the House’s signature icons, has been translated into a stylish watch design, as seen in the existing Horsebit timepiece line. The two new variants are available in a delicate 28mm size and are treated with a glossy pink gold PVD finish. The variant with a black dial and Roman numerals offers a classic look, whilst the second model, with a mother of pearl dial set with diamonds at 3, 6 and 9 o’clock, provide for a more precious touch. The horsebit design takes centre stage and the curves of this elegant motif gently embrace the bangle, sweeping around the understated dial.Simple and elegant, the dials show the “Swiss Made” seal at six o’clock and the Gucci logo at 12 or 3 o’clock. These new timepieces are worked in the chic bangle style adding further refinement to these extensions, whilst remaining wearable for every day.

Jordan Kuwait Bank-Cyprus Goes Live onICS BANKS®in 46 DaysJordan Kuwait Bank (JKB), one of the largest and fastest growing banks in Jordan, officially announced the successful go-live of ICS BANKS® from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, at its branch in Cyprus. ICS BANKS was successfully deployed at Jordan Kuwait Bank’s Cyprus Branch in a record breaking time of only 46 days. The bank experienced a smooth implementation process which started on 15 February, 2015 and was completed on 1 April, 2015.

HRH Princess Haya honoured at the 2015 Longines Ladies Awards ceremonyHRH Princess Haya Al Hussein has tonight been awarded the prestigious Longines Ladies Award in a ceremony attended by the leaders of the global equine sports industry. Former Olympic show jumper, two-term President of the International Equestrian Federation (FEI), FEI Honorary President and Classic-winning racehorse owner, HRH Princess Haya received the honor in recognition of “Her outstanding elegance as a competitor, a leader and a woman working tirelessly for the good of equestrian sports” said Mr. Juan-Carlos Capelli, Vice President & Head of International Marketing of Longines.

Longines puts the Longines DolceVita collection in the spotlight during a Garden Party The Swiss watch making company put its new Longines DolceVita collection in the spotlight during a Garden Party thrown in the gardens of the Chantilly Castle on the eve of the Prix de Diane Longines. The stunning actress Aishwarya Rai Bachchan, Ambassador of Elegance for the brand and face of the new collection, graced the evening with her presence. Since its inception, the Longines DolceVita collection has illustrated contemporary elegance of the Longines watch making brand worldwide. Inspired by the “Dolce Vita”, it is homage to the sweetness of life.

BMW Group launches i sub-brand in Jordan focusing on sustainable mobilityThe world’s most sustainable premium car company, BMW Group, has announced the launch of its sustainable sub-brand, BMW i, which represents future-orientated electric vehicles and mobility services, in Jordan. The move marks the Kingdom as the first market in the Middle East to welcome not only the world’s most progressive sustainable sports car, the BMW i8, but the zero-emission all-electric i3 onto its roads. The region-first launch, which took place on 9th June, follows the recent pledge by the Kingdom’s government to diversify its energy resources with renewable and invest in local resources and infrastructure in order to increase the renewable energy ratio mix in the country to 10 percent by 2020.


invESTMEnTS in REnEWABlE EnERGy projects are on the rise in Jordan, and for a good reason. over recent weeks a number of major solar power projects were launched in the Kingdom in a bid to bring down its energy bill that exceeded JD3.5 billion last year compared to JD3.2 billion in 2013. Jordan’s energy imports make up more than 28 percent of total imports which exceed JD12 billion annually. The energy bill has boosted Jordan’s general public debt, which the World Bank expects to reach $36.8 billion, or 93.3 percent of GDP, by the end of the year.none of this will come as a surprise to Jordanians. The government has long complained about the rising cost of energy and the burden it puts on our economy and budget. As a result, Jordanians bore the brunt of successive increases in the cost of electricity; adding more pressure on the middle class, industry and other sectors, in addition to the country’s poor.There are no magic solutions to overcoming our energy challenges. But a new push to generate renewable energy, particularly solar, could hold the key. in May, King Abdullah inaugurated a solar power plant with a 5.6-megawatt (MW) capacity in the grounds of the Royal Court. The power plant will save JD2.8 million in electricity bills annually, and its cost will be recovered in around three years.At the same time, The Jordan Times reported the government has qualified technical offers by 24 local and international companies that are competing to build solar plants that would represent some 6 to 7 percent of the national grid’s current capacity. Four out of the 24 companies will be selected, and each will build a 50 MW solar-fuelled power plant. According to the Energy and Minerals Regulatory

Commission, by the end of the year, around 330 MW produced from solar and wind energies will be added to the national electricity grid as part of a comprehensive strategy aimed at increasing renewables’ contribution.

in June, Prime Minister Abdullah Ensour also launched the early stages of Shams Maan solar photovoltaic plant, which is the largest solar energy project in the Middle East. The 52.5 MW project, with investments worth around $170 million, is being built on a 2-million square-meter area, and is expected to cover 1 percent of the Kingdom’s total annual consumption of energy upon completion. Ensour said the national strategy seeks to diversify energy sources, setting a 10 percent renewable energy contribution to the total energy mix by 2020.More public and private sector initiatives have been revealed recently. Ayla oasis in Aqaba has launched a 3.2 MW solar power plant that’s connected to the national grid at a cost of about JD9 million. The cost is expected to be recovered in four years.But it’s not only industry that’s investing in renewable energy; private individuals are too. Mosques, hospitals, schools, and homes are installing solar systems which are connected to the national grid in a bid to save money. The cost of such small and medium solutions is going down, while efficiency is going up. But technical benchmarks are needed to set standards and determine costs so that private

citizens can make the right decision. Solar power panels are now emerging in affluent Amman neighborhoods, which is an indicator that consumers are becoming aware of the opportunities and savings that renewable energy

sources provide.But solar and wind energy will not solve Jordan’s increasing energy needs. The controversial alternative is nuclear energy. Jordan has launched a national strategy to develop and acquire nuclear power. The issue has divided Jordanians, at a time when countries like Japan and Germany are seriously thinking of phasing out such sources by mid century.on paper, nuclear energy can easily meet Jordan’s increasing hunger for power. The Kingdom is aiming to build two reactors within the coming four years with a capacity to generate 1000 MW each; at a cost of between JD7 to 10 billion to be recovered in the first four years.The nuclear option will continue to raise doubts and reflect insecurities, but national security priorities will prevail and the Kingdom will make strides in renewable energy solutions. Energy has become an existential issue for Jordan and we need to maintain initiatives that make it easy and affordable for citizens and the different sectors to invest in this area.

You can contact OSAMA AL-SHARIF at [email protected]

POSTSCRIPT

a sunny solution to JoRDan’s eneRgy CRunCHA slew of renewable power projects, including the region’s largest solar plant, look set to help Jordan get a handle on its huge energy challenge. BY OSAMA AL-SHARiF

THERE ARE NO MAGiC SOLUTiONS TO OVERCOMiNG OUR ENERGY CHALLENGES. BUT A NEW PUSH TO GENERATE RENEWABLE ENERGY COULD HOLD THE KEY


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