Gulf Business | June 2010

download Gulf Business | June 2010

of 98

Transcript of Gulf Business | June 2010

  • 8/9/2019 Gulf Business | June 2010

    1/98

    E@[QD\JHD\T [^SVNT= L@RO C^\ O@\ @^\ DO \EN SNBD@O[ CDB KD\DN

    Jk|d`o*

    ONR FS@O\DNS[

    @qq`s|~od|dn{ `s |en csjvndo [sd Hjoij jol \jdrjo

    CJKI @O \SJKII~rjd|{ gnbj qs`mnk|{fojhht bn| ~olns rjt

    E@GN BS@RO[j~ld {esdgq jsg|` gjin cdb rjvn{ENJH\ET BS@R\ERn{|nso do{~sns{ lsjroct h~sn ` |en ~odo{~snl

    E`r |en B~hf{ c``gdob kdongj{ jsn|es`rdob |en {q`|hdbe| `o h`kjh |jhno|

    V`h/ :> D{{~n 3 M~on 31

    rrr/b~hfc~{don{{/k`g

    Cjesjdo//////////////CL :/1

    I~rjd|/////////////// IL :/1

    @gjo//////////////// S@ :/1

    Zj|js////////////////// ZS :1

    [j~ld Jsjcdj///////[S :1^JN////////////////// LE[ :1

  • 8/9/2019 Gulf Business | June 2010

    2/98

    M@T D[ \EN ONR CGR U>/

    M`t h`vn{ fsnnl`g jol m`t h`vn{ |en rdhlnson{{/ \ej|{ ret |en onr CGR U> d{ qsnqjsnl |` |jin o jot s`jl|` lnhdvns t`~ |` t`~s ln{|doj|d`o( |ejoi{ |` |en CGR uLsdvn f~hht vjsdjchn

  • 8/9/2019 Gulf Business | June 2010

    3/98

    \en onr CGR U>

    rrr/cgr'gn/k`g

    [ennsLsdvdob Qhnj{~

    JHH S@JL[ JOL

  • 8/9/2019 Gulf Business | June 2010

    4/98

    BN@SBN KH@@ONT[ KE@DK

    @gnbj c`~|dz~n{ %C~sM~gjo( Lndsj Kd|t Kno|sn( L~cjd Gjhh(Gjhh `f |en Ngdsj|n{( Gdsldf Kd|t Kno|sn( [jejsj Kno|sn( Rj$jol j| {nhnk| Sdv`hd [|`sn{/ \ hh Fsnn= 511'SDV@HD

    JVJDHJCHN J\=

  • 8/9/2019 Gulf Business | June 2010

    5/98

  • 8/9/2019 Gulf Business | June 2010

    6/98

  • 8/9/2019 Gulf Business | June 2010

    7/98

  • 8/9/2019 Gulf Business | June 2010

    8/98

  • 8/9/2019 Gulf Business | June 2010

    9/98

    \en B~hf jqqnjs{ nobs`{{nl ct kdongj( rd|e |en lnc~|`f |en s{| Ngdsj|d'ldsnk|nl fnj|~sn hg do |en ^JN(`ob`dob kdongj k`o{|s~k|d`o( jol |en hj~oke f |enL`ej Fdhg Do{|d|~|n do Zj|js/ C~| d| d{o| jhh f~o jolbjgn{( rd|e dol~{|st do{dlns{ rjsodob f kejhhnobn{

    jenjl jol hdgd|j|d`o{ do |en gjsin|/

    D{{~n 3 M~on 31:1

    \EN C^[DON[[

    6

    Cdb {ksnno c~{don{{

  • 8/9/2019 Gulf Business | June 2010

    10/98

    5b~hfc~{don{{/k`g M~on 31:1

    \EN LN\JDH[

    \EN QN@QHN

    63Kh`{n ~q^JN'cj{nl hg qs`l~kns \dg [gt|en

    |jhi{ jc`~| g`vdn gjidob do |en B~hf/

    66K`gqn|d|d`o

    65Nunk~|dvn G`vn{Re` d{ g`vdob ~q do |en BKK

    c~{don{{ r`shl/

    \EN HDFN[\THN

    21\sjvnhVd{d| |en ff'|en'cnj|no'qj|e f Cnhd}n

    f`s j |j{|n `f ~o{q`dh| cnj~|t/

    2:Js|J rjvn `f |enf| jol f`sbnsdn{ snvnjh{

    |en ~olns{dln f |en js| r`shl/

    21

    23

    Nld|`s'do'Kednf @cjdl E~gjdl Jh \jtns

    Bs`~q Nld|`s jol Gjojbdob Qjs|onsDjo Fjds{nsvdkn

    Bs`~q [nod`s Nld|`s Bdoj M`eo{`o

    Bs`~q Nld|`s'C~{don{{ Jhd{|jds Ksdbe|`o

    Lnq~|t Nld|`s ]jsdoj IejoHdfn{|thn Nld|`s Khjdsn Edhh

    Nld|`sdjh K``sldoj|`s'C~{don{{ K`okn{{j L[`~}j

    Js| Ldsnk|`s Ksd{ L`gl`g

    [nod s Ln{dbons C Sjvnnolsjo

    [qnkdjh K`o|sdc~|`s{ jol

    Do|nsoj|d`ojh K`ssn{q`olno|{

    Cnshdo R`hfsjg Cdnhno{|ndo

    E`ob I`ob Gdkejnh GkIjt

    M`ejoon{c~sb Cdhh Kjdo

    H`ol`o S`cns| CjdhntIjsno \e`gj{

    Onr Lnhed Sje~h Cnld

    [ejobejd B`sl`o E~

    Rj{edob|`o Invdo M Inhhnt

    E`{qd|jhd|t B~t [|jold{e'Rdhido{`o

    Bnonsjh Gjojbns Qs`l~k|d o

    jol Kdsk~hj|d o [ [j{dlejsjo

    Qs`l~k|d o Gjojbns K [~lejijs

    Bnonsjh Gjojbns Bs`~q [jhn{

    Jo|e`ot Gdhon

    [nod s Jlvns|d{ngno| Gjojbns

    Jcsjejg I`{et

    Jlvns|d{ngno| Gjojbns

    Jmjt Gj|enr{

    Qsdo|nl ct Ngdsj|n{ Qsdo|dob Qsn{{( L~cjd

    33(22>/ Do |en `ffdkn{ `f |en {`hdkd|`s Gs/ Ke`d{t( j t`~ob

    Gj{|ns Rj|kegjins fs`g Bnonvj ojgnl Mnjo'Gjsk Vjkens`o d{ jc`~|

    |` edsn ed{ fds{| jqqsno|dkn/ \ed{ jbsnngno| d{ |en fds{| io`ro snfnsnokn

    |` |en f`~oldob rj|kegjins `f j qsn{|dbd`~{ ltoj{|t jol d| snqsn{no|{

    |en n{|jchd{egno| `f Vjkens`o K`o{|jo|do( |en `hln{| rj|kegjidob

    gjo~fjk|~sns do |en r`shl do k`o|do~`~{ `qnsj|d`o/

    Nvns {dokn |ed{ jbsnngno|( jol |s~n |` |en ed{|`st |ej| c~dh|

    d|{ snq~|j|d`o( Vjkens`o K`o{|jo|do ej{ cnno k`ggd||nl

    |` qj{{dob `o d|{ io`rhnlbn |` njke `f d|{ Gj{|ns

    Rj|kegjins{ do `slns |` b~jsjo|nn |en nuknhhnokn jol

    l~sjcdhd|t `f d|{ ksjf|{gjo{edq jol `f d|{ |dgnqdnkn{/

    Z~jd ln hDhn Ljt'Lj|n jol Q`rns'sn{nsvn( Qdoi b`hl jol |d|jod~g kj{n(

    Ejhhgjsi f Bnonvj( [nhf'rdoldob gnkejodkjh g`vngno|

  • 8/9/2019 Gulf Business | June 2010

    12/98

    :1b~hfc~{don{{/k`g M~on 31:1

    \EN K@GGNO\ HNJLNS[

    L~cjd D{hjgdk Cjoi{ %LDC$ s`hh`~| `f d|{

    hj|n{| qs`l~k| hj{| g`o|e( Jh D{hjgd [jhjg

    Fdojokn( snvnjh{ {`gn `f |en `~|{|joldob

    d{{~n{ |ej| |en bs`rdob nhl `f D{hjgdk ojokn

    {|dhh fjkn{/

    Do |stdob |` snqhdkj|n k`ovno|d`ojh ojokdjh

    qs`l~k|{ do |ed{ kj{n( j k`o{~gns h`jo

    [ejsdje'k`gqhdjo| do{|s~gno|{ kjo k`gn

    `vns j{ m~{| qhjdo k`gqhdkj|nl/ \en qsngd{n `f

    [jhjg d{o| j {dgqhn `on |` bsj{q= j| |en qsn{{

    k`ofnsnokn( |en FJZ `o |en qs`l~k| jqqnjsnl |`

    k`o|sjldk| jo{rns{ bdvno l~sdob |en k`ofnsnoknd|{nhf( jol |en LDC |njg {qno| g`sn |dgn |jhidob

    ~q |en D{hjgdk c`oj ln{ f |en qs`l~k|( sj|ens

    |ejo nuqhjdo e`r d| r`si{ do |en snjh r`shl/

    Jol |ej|{ |en cdhhd`o'ldsejg z~n{|d`o %jol

    jh{` |en jg`~o| |en cjoi d{ {n||dob j{dln |`

    kjqd|jhd{n |ed{$/ [jhjg sn{ngchn{ j f~|~sn{

    k`o|sjk| g`sn |ejo jot|edob nh{n/ \ensn d{

    j snjh ~olnshtdob j{{n|( do |ed{ kj{n( {~bjs(

    ke`{no cnkj~{n `f d|{ snhj|dvn do'v`hj|dhd|t/

    N{{no|djhht( j c`ss`rns r`si{ `~| e`r g~ke

    ~qfs`o| kj{e en `s {en onnl{ %fs`g ,6(511 |`

    jc`~| ,32;(111$( |en cjoi {~qqhdn{ |ed{( jol

    |en c`ss`rns |eno qjt{ cjki |ej| jg`~o| `o jg`o|eht cj{d{ do {~bjs/ \es`~be |en cjoi{

    k`gg`ld|t jkk`~o|( |en qet{dkjh lnhdvnst `f

    {~bjs d{ o`| |en c`ss`rns{ qs`chng( {` cjb{

    `f \j|n & Hthn jsno| b`dob |` b~g ~q |en

    cjoi{ J\G{/

    [|dhh( z~n{|d`o{ sngjdo/ Jkk`sldob |` |en FJZ(

    |en cjoi gjin{ d|{ qs`| ct {nhhdob |en {~bjs

    `o |en `qno gjsin|/ O`r( ~ohn{{ |en `sdbdojh

    k`o|sjk| d{ ln{dbonl {` |en c`ss`rns d{ c~tdob

    ed{ {~bjs j| j {dbodkjo| qsngd~g |` gjsin|

    sj|n{( |` `ff{n| jot f~|~sn lnkhdon{ do |en {~bjs

    qsdkn( |ed{ h``i{ doksnldcht sd{it/ Rd|e`~|

    f~s|ens khjsdkj|d`o( {`gn gjt r`olns d{ |en

    cjoi( do nffnk|( |jidob j bdjo|( jol ~oenlbnl(

    cn| `o |en {~bjs gjsin|0 E~{{jdo EjgnlEj{{jo( |en enjl `f LDC{ [ejsdje [~qnsvd{`st

    C`jsl( do{d{|nl j| |en qsn{{ k`ofnsnokn |ej|

    jojht{|{ io`r |en gjsin|{ rnhh no`~be |`

    no{~sn |ed{ d{o| gnsn {qnk~hj|d`o redke

    r`~hl cn k`o|sj |` |en vjh~n{ f [ejsdje

    ojokn redhn Jlojo Kedhrjo( |en cjoi{ enjl

    `f sn|jdh jol c~{don{{ cjoidob( {jdl |ej| d|{ |en

    {~bjs re`hn{jhns{ re` rdhh kjsst |en sd{i/

    C~| o` jojht{| kjo snhdjcht |nhh t`~ rej| |en

    {~bjs qsdkn rdhh cn |`g`ss`r( onvns gdol |esnn

    tnjs{ fs`g o`r j q`do| cs`~be| e`gn ct |en

    {h~gq do {~bjs qsdkn{ cnbdoodob fs`g Mjo~jst

    |ed{ tnjs jol j cdhhd`o ldsejg{ jqqnjs{ |` cnj h`| |` k`ggd| |` j qs`l~k| |ej|( ~h|dgj|nht(

    k`~hl hnjvn |en cjoi rd|e j cd||ns jf|ns|j{|n/

    \en{n d{{~n{ g~{| cn khjsdnl/

    L~cjd D{hjgdk Cjoi{ {~bjs'cjkinl h`jo d{ j{ vjb~n j{ d| d{ ~o~{~jh/

    [rnn| lsnjg{0Y D[HJGDK FDOJOKNW

    Jf|ns rj|kedob d|{ ondbec`~s{ gjin ejt( I~rjd| d{ ojhht bn||dob d|{ |dgn do |en {~o/

    Rjd|dob f`s j b`Y DOFSJ[\S^K\^SN W

    RJT( rjt cjki do 3116( reno L~cjd{

    nk`o`gt rj{ {|`sgdob jenjl jol

    dofsj{|s~k|~sn qs`mnk|{ rnsn cndob {dbonl ff

    hnf|( sdbe| jol kno|sn( I~rjd|{ c~{don{{gno

    rnsn o`| j ejqqt c~oke/ Lng`ksjkt( |ent

    {jdl( rj{ e`hldob |eng cjki/ Dolnnl( I~rjd|{

    qnk~hdjs f`sg f lng`ksj|dk qs`kn{{ rj{

    e`{|jbn |` j o~gcns f fjk|`s{ dokh~ldob {nhf'

    {nsvdob GQ{ jol |sdcjh fjk|d`ojhd{g/ @o |`q

    `f |ej|( |en re`hn qs`kn{{ `f b`vnsogno| rj{

    rndbenl l`ro ct j c~snj~ksj|dk gjkedon |ej|

    {qnrnl j k`o{|jo| {|snjg `f snl |jqn/

    [`( j{ |`rns{ s`{n do ondbec`~sdob k`~o|dn{(

    j{ q`s|{ nh{nrensn rnsn gjln lnnqns jol

    hjsbns( jol j{ ndbe|'hjon edberjt{ k~|

    |es`~be c`slnsdob ln{ns|{( I~rjd| {|jboj|nl(

    fsnz~no|ht do |en ljsi j{ |en {khns`|dk q`rns

    {t{|ng fjdhnl |` nvno innq ~q rd|e lngjol

    fs`g kd|t sn{dlno|{/

    Fj{| f`srjsl |` 31:1( jol k`o|sjk|`s{

  • 8/9/2019 Gulf Business | June 2010

    13/98

    M~on 31:1 b~hfc~{don{{/k`g ::

    |es`~be`~| |en B~hf( {|dhh hdkidob |ends r`~ol{

    jf|ns |en qs`qns|t ksj{e do L~cjd hnf| |eng

    `vns'nuq`{nl jol ~olns'ngqh`tnl( jsn {edf|dob

    |ends f`k~{ |` I~rjd|/ \ej| {jgn qjshdjgno|

    |ej| rj{ qs`chngj|dk j lnkjln jb` ej{ q~|

    j{dln ldffnsnokn{ |` `vnsrenhgdobht cjki j

    ,:11 cdhhd`o lnvnh`qgno| qhjo |` f~ol g`sn

    |ejo :(111 qs`mnk|{ {`gn `f |eng vnst hjsbn

    dolnnl/ \ed{ dokh~ln{ r`si `o jo `dh jol bj{

    dofsj{|s~k|~sn( j gjm`s s`jl{ ~qbsjln( j onr

    jdsq`s| |nsgdojh jol [dhi Kd|t j vj{| ~scjo

    qs`mnk| ln{|donl |` cn {nk`ol `oht |` |en

    kjqd|jh do {d}n/

    @f k`~s{n( j h`| `f |ed{ rj{ {kenl~hnl |` cn

    k`gqhn|nl tnjs{ jb`( jol {qnoldob d{o| b`dob

    |` {`hvn jhh `f I~rjd|{ qs`chng{/ \en {|`ki

    gjsin| sngjdo{ r`nf~hht ~olns snb~hj|nl(jol |en oj|d`o onnl{ |` |jkihn j {nsd`~{

    lnqnolnokt k~h|~sn jg`ob d|{ kd|d}no{/

    Oj|d`ojh Cjoi `f I~rjd| j{dln( |en k`~o|st{

    cjoidob {nk|`s rj{ ed| ejsl ct |en ojokdjh

    ksd{d{( jol sngjdo{ rnji( jol GQ{ jsn q~{edob

    f`s |en{n {jgn cjoi{ |` rsd|n `ff {`gn ,6/;

    cdhhd`o `f do|nsn{| `o |en no|dsn k`o{~gns

    lnc| q`s|f`hd`( jsb~dob |ej| k`sq`sj|d`o{

    rnsn cjdhnl `~|( {` ret o`| doldvdl~jh{0 \en

    b`vnsogno| ej{ {` fjs sn{d{|nl |en{n q`q~hd{|

    g`vn{( snk`bod{dob |ej| ojokdjh {|dg~hj|d`o

    rdhh snz~dsn g~ke g`sn |ejo kj{e ejol`~|{ `s

    lnc| f`sbdvnon{{/

    J k`o{|sdk|dob c~snj~ksjkt sngjdo{

    j {nsd`~{ d{{~n( jol I~rjd|d{ {|dhh vdnr

    b`vnsogno| r`si j{ {`gn|edob j{ j sdbe|(

    rd|e 51 qns kno| `f kd|d}no{ ngqh`tnl do |en

    q~chdk {nk|`s/

    F`s |e`{n k`gqjodn{ qj|dno| no`~be |` lnjh

    rd|e |en snl |jqn( e`rnvns( |ensn{ jo`|ens

    qsd}n( m~{| jks`{{ |en c`slns/ \en q`hd|dkjh hdoi{

    gjt cn hjkidob( c~| |en {|j|n{ qs`udgd|t |`

    Dsjz g~{| cn {nno j{ j||sjk|dvn9 jot k`o|sjk|`sh``idob j| |jidob j {hdkn `f |en n{|dgj|nl ,611

    cdhhd`o do dofsj{|s~k|~sn r`si `o |en kjsl{ do

    |en rjs'|`so k`~o|st r`~hl l` rnhh |` h``i

    j| qs`mnk|{ do I~rjd| j{ {`gn|edob `f j lsn{{

    snenjs{jh( jol( j{ j h`bd{|dk{ cj{n f`s Dsjz

    lnvnh`qgno| r`si( d| kjo| cn cn||nsnl/

    \ensn d{ hdbe| {e`rdob j| |en nol f [edoljbej |~oonh/

    Lnjh o L~cjd R`shl lnc| lsjr{ onjs

    Y NK@O@GT W

    \EN K@GGNO\ HNJLNS[

    \en jkknq|jokn `f |en L~cjd R`shl lnc|

    sn{|s~k|~sdob lnjh ct 61 qns kno| f hnolns{

    hj{| g`o|e snqsn{no|{ j {dbodkjo| gdhn{|`on do

    |en ngdsj|n{ cj||hn |` bn| d|{nhf `~| `f d|{ lnc|

    ksd{d{/ F`s |en s{| |dgn do j h`ob redhn( {`gn

    q`{d|dvn doi rj{ {qhj{enl js`~ol jc`~| L~cjd(rd|e {`gn k`ggno|j|`s{( o`|jcht |en Fdojokdjh

    \dgn{( nvno {~bbn{|dob |ej| Bsnnkn k`~hl

    hnjso j |edob `s |r` fs`g e`r |en ngdsj|n ej{

    ejolhnl |en onb`|dj|d`o{/

    C~| |ej| l`n{o| gnjo L~cjd d{ `~| `f |en

    r``l{ tn|/ [`gn 66 ksnld|`s{ jsn {|dhh e`hldob

    `~| f`s j cn||ns lnjh( o`|jcht( |en h`kjh cjoi{

    |ej| jsn ~oejqqt rd|e |en h`r do|nsn{| sj|n

    `o `ffns/ Bn||dob |eng `o{dln jol jk|~jhht

    q~||dob qno |` qjqns `o |en lnjh gjt {|dhh cn

    j g`o|e `s |r` `ff/ \eno |ensn{ |en d{{~n `f

    `|ens dolnc|nl b`vnsogno|'snhj|nl no|d|dn{/

    L~cjd E`hldob ej{( jkk`sldob |` onr{ {`~skn{(

    cs`~be| do jo jlvd{`st bs`~q |` qsn'ngq| d|{

    `ro g~ke'jo|dkdqj|nl lnc| sn{|s~k|~sdob( jol(

    jkk`sldob |` `~s b~sn{ fs`g Mjo~jst |ed{ tnjs(

    |ensn d{ {|dhh {`gn ,>< cdhhd`o do {e`s|'|nsg

    ksnld| |` cn {nsvdknl ct 31:< jol |ej| l`n{o|dokh~ln cdhj|nsjh cjoi h`jo{ |ej| rdhh s~o |`

    gjot cdhhd`o{ g`sn/

    [|dhh( jol nuk~{n |en q~o( rn g~{| bdvn

    ksnld| rensn d|{ l~n/ Do {|sdk|ht q~chdk

    snhj|d`o{ |nsg{( L~cjd ej{ k`gn j h`ob

    rjt fs`g |en {e`ki joo`~okngno| `f |en

    L~cjd R`shl lnc| {|jol{|dhh do O`vngcns/ Do

    ojokdjh |nsg{( d|{ qhjtdob d|{ ejol j{ rnhh j{

    `s cn||ns |ejo jot`on k`~hl ejvn nuqnk|nl/

    Df L~cjd ej{ cnno ffinn|'f``|nl no`~be |`

    l`lbn |en io`ki'`~| ch`r{( |ensn{ {|dhh e`qn d|

    kjo bn| d|{nhf `ff |en s`qn{/

  • 8/9/2019 Gulf Business | June 2010

    14/98

    :3b~hfc~{don{{/k`g M~on 31:1

    \EN K@GGNO\ DOVN[\GNO\

    @on( \jdrjo{ nuq`s|{ |` Kedoj jsn bsnj|ns |ejo d|{

    nuq`s|{ |` |en ^[( N~s`}`on jol Mjqjo q~| |`bn|ens/ Kedoj

    rdhh cn |en r`shl{ hjsbn{| QK( g`cdhn qe`on( k`o{~gns

    nhnk|s`odk{( qhj{gj \V jol on|r`si k`gq~|dob gjsin| do

    |en onu| lnkjln( j{ |en Kedon{n gdllhn khj{{ {~sbn{ fs`g

    311 |` >11 gdhhd`o qn`qhn/ Kedon{n jol ngnsbdob J{djo |nke

    nuq`s|{ rdhh hnjl |` j l`~chn cjbbns do \jdrjon{n njsodob{qns {ejsn do |en onu| |r` tnjs{/

    \r`( q`hd|dkjh snhj|d`o{ cn|rnno |en s~hdob \jdrjo

    IG\ %I~`gdo|job$( ds`odkjhht |en qjs|t `f Gj`{ sdvjh

    Bnonsjhd{{dg` Kedjob Ijd [eni( jol Cndmdob ejvn dgqs`vnl

    {dbodkjo|ht {dokn |en nhnk|d`o f Qsn{dlno| Gj Tdob Mn`~/

    Do n{{nokn( ~ohdin ed{ ld{bsjknl qsnlnkn{{`s( Qsn{dlno| Gj

    ej{ jcjol`onl |en sen|`sdk `f \jdrjon{n dolnqnolnokn/

    \ed{ ej{ hnl |` |en ed{|`sdk Kedoj'\jdrjo nk`o`gdk

    k``qnsj|d`o |snj|t |ej| rdhh {dbodkjo|ht c``{| |en d{hjol{

    ojokdjh hdoijbn |` |en Gjdohjol jol dok`sq`sj|n j bs`r|e

    qsngd~g do \jdrjo nz~d|dn{/

    \esnn( \jdrjo ej{ |en h`rn{|

    b`vnsogno| c`ol tdnhl do |en J{djoQjkdk( rd|e |no tnjs lnc| |sjldob cnh`r

    3 qns kno|/ \ed{ gnjo{ \jdrjo{ nz~d|t

    sd{i qsngd~g d{ nukn{{dvn j| d|{ k~ssno|

    g`ln{| vjh~j|d`o/ \ed{ rdhh o`| hj{|/

    F`~s( \jdrjo d{ nu|sngnht kenjq

    snhj|dvn |` d|{ `ro qj{| |sjldob ed{|`st/

    \jdrjo {ejsn{ |sjlnl j| :2 |dgn{ f`srjsl

    njsodob{ {dokn |en :441{( reno |en

    sjqqs`kengno| rd|e |en r`shl{ sd{dob

    ojokdjh {~qnsq`rns jks`{{ |en [|sjd|{ `f \jdrjo rj{ o`|

    sng`|nht o |en bn`q`hd|dkjh jbnolj/

    Fdvn( Kedoj{ R\@ qs`gd{n gnjo |ej| d| rdhh nvno|~jhht

    jhh`r \jdrjon{n cjoi{ |` `qno csjoken{ do |en gjdohjol/\ed{ qs`{qnk| d{ o`| qsdknl do|` k~ssno| cjoi vjh~j|d`o{/

    [du( \jdrjon{n ch~n kedq{ \[GK( E`o Ejd( J@ @q|s`odk{(

    Rd{|ns`o( Kedoj Hdfn( F~c`o jol Kedoj|s~{| jsn {`gn `f |en

    cdbbn{|( cn{| gjojbnl c~{don{{ do |en Fjs Nj{|/

    Jol hj{|ht( `ff{e`sn f~ol gjojbns{ jol nvno h`kjh{ jsn

    ~olnsrndbe| do \jdrjo {ejsn{/ Nuknhhno|/ C~hh gjsin|{

    khdgc j rjhh `f r`sst/ D| d{ |dgn dovn{|`s{ snnujgdonl |en

    d{hjol Kdolnsnhhj `o |en nlbn `f Kedoj/ \en \jdrjo {|`st d{

    {dgqht k`gqnhhdob |` gn/

    Gj|ndo Iejhdl d{ j bh`cjh gjks` |sjlns( nk`o`gdk{

    qs`fn{{`s( f~ol gjojbns do j s`tjh dovn{|gno| fkn

    jol rsd|ns do ojokn jol bn`q`hd|dk{/

    \en Kdolnsnhhj fjdst |jhn d{ jo jq| gn|jqe`s

    f`s |en `o{n| `f j {nk~hjs c~hh gjsin| do

    ngnsbdob gjsin|{/ D| d{ |en g`gno| reno j

    gjsin| d{ kenjq( ~oh`vnl( ~olns'`ronl jol

    nvno gd{~olns{|``l/ \ed{ rj{ |en kj{n rd|e Doldj do

    3113 reno |en [no{nu |sjlnl cnh`r ;(111( |en f`srjsl

    vjh~j|d`o rj{ j gnsn odon |dgn{ njsodob{ jol ff{e`sndovn{|`s{( |sj~gj|d{nl ct |en snkno| [dhdk`o Vjhhnt |nke

    gnh|l`ro( ejl }ns` do|nsn{| kej{dob |en k`sq`sj|n

    Kdolnsnhhj{ f Ljhjh [|snn|( nvno |e`~be dol~{|sdjh

    sn{|s~k|~sdob ejl ksnj|nl jo njsodob{ nuqh`{d`o/ [du

    tnjs{ hj|ns( |en [no{nu {`jsnl |` 3:(111( j {|sj|`{qensdk

    vjh~j|d`o f 3; |dgn{ njsodob{ jol Doldj rj{ |en ljshdob

    `f |en ngnsbdob gjsin|{/ @f k`~s{n( j{ rn hnjso| |en ejsl

    rjt do |en B~hf( d| d{ jhh |`` nj{t |` gd{|jin Kdolnsnhhj %j

    {nk~hjs c~hh gjsin|$ f`s |en ~bht {|nq{d{|ns{ %vjh~n |sjq{$

    do |en cjhhs``g %j hnvnsjbnl ksnld| c~cchn$/ Jgdl tn|

    jo`|ens {qj{g f sd{i jvns{d`o do |en

    ojokdjh gjsin|{( D {njske f`s |en onu|

    ngnsbdob gjsin|{ Kdolnsnhhj( redke Dcnhdnvn d{ \jdrjo/

    \jdrjo( lng`od{nl j{ |en snonbjln

    qs`vdokn `f |en Gdllhn Idobl`g ct |en

    gjoljsdo{ f Cndmdob nvns {dokn Kejdsgjo

    Gj` f`~olnl |en Qn`qhn{ Snq~chdk `f

    Kedoj {du lnkjln{ jb`( d{ on f |en

    r`shl{ |s~n nk`o`gdk jol q`hd|dkjh fjdst

    |jhn{/ Jo dgq`vnsd{enl( qjsdje( ltoj{|dk

    ldk|j|`s{edq j| k`o|do~jh sd{i f dovj{d o

    fs`g |en gjdohjol( g`sqenl do|` j vdcsjo| lng`ksjkt

    rd|e j |nke nuq`s| nk`o`gt do |en {qjo f on hdfn|dgn(

    rd|e {`gn f |en edben{| ejsl k~ssnokt sn{nsvn{ do |en

    Qjkdk Cj{do jol j k`o{|nhhj|d`o `f r`shl khj{{ |nkeo`h`btgjo~fjk|~sns{/ E`rnvns( ln{qd|n cndob [dhdk`o Vjhhnt{

    f`~olst jol j{{ngcht hdon( \jdrjo ej{ o`| cnno vjh~nl j{

    j bs`r|e gjsin| ct f~ol gjojbns{ {dokn |en k`hhjq{n `f

    |en |nke c~cchn j lnkjln jb`/ \jdrjo |sjln{ j| j gnsn :;

    |dgn{ njsodob{ jol |rdkn c``i vjh~n nvno |e`~be njsodob{

    rdhh l`~chn do 31:1 jol 31::/ \en ojokdjh gjsin|{ qsdkn

    \jdrjo j{ j h`r'nol( k`gg`ld|t gjo~fjk|~sns |ej| d{

    e`{|jbn |` |en ^[ jol Mjqjon{n k`o{~gns/ \jdrjo d{ |en

    Kdolnsnhhj f J{djo {|`ki gjsin|{( j bng o |en vnsbn f j

    {dbodkjo| vjh~j|d`o sn'sj|dob/ D cnhdnvn |en \JDNU k`~hl

    rnhh sd{n fs`g |en k~ssno| 2(

  • 8/9/2019 Gulf Business | June 2010

    15/98

  • 8/9/2019 Gulf Business | June 2010

    16/98

    \EN K@GGNO\G@ONT

    :(111 j{ |en r`shl b`n{

    |es`~be {`gn|edob hdin j sn's~o f |en gdl'21{/ \eno( j{

    o`r( j gj{{dvn ksnld| nuqjo{d`o qs`l~knl j e~bn c~{| do

    qs`qns|t jol |eno {|`ki qsdkn{( jol b`vnsogno|{ snffij|nl

    |ends nk`o`gdn{ |` k`~o|ns |en l`ro{rdob/

    Doffij|d`o sn{~h|nl jf|ns |en dod|djh qsdkn lnffij|d`o(

    jh|e`~be {|`ki jol snjh n{|j|n qsdkn{ {|jtnl h`r( jol

    c`ol qsdkn{ fnhh/ Nvno b`hl qsdkn{ |``i j oj{|t |~gchn

    do :426 j{ |ent ldl do hj|n 3115/ C~| |eno kjgn |en

    {qnk|jk~hjs :424'51 ch`r'`ff do

    qsnkd`~{ gn|jh qsdkn{ rd|e b`hl j|

    ,5>1 jol {dhvns j| ,>1 jo `~okn/ D{ |ej|

    ojh {qdin jc`~| rensn rn jsn |`ljt(

    `oht |` fjs edbens qsdkn hnvnh{0O`|n |ej| {dhvns d{ |en `oht

    k`gg`ld|t do |en r`shl o`| |` ejvn

    qj{{nl d|{ qsnvd`~{ jhh'|dgn edbe( jol

    |ej| rj{ {n| |esnn lnkjln{ jb` o`r/

    [` rdhh ed{|`st snqnj| d|{nhf jbjdo0

    Df rn h``i j| rej| ej{ ejqqnonl |`

    e`~{n qsdkn{ jol {|`ki{ %jc`~| l~n f`s jo`|ens ldq df

    :421{ v`hj|dhd|t d{ jot b~dln$ |eno |edob{ l` h``i vnst

    {dgdhjs/ B`vnsogno|{ ejvn jh{` cnno |jidob ln{qnsj|n

    gnj{~sn{ |` k`~o|ns |en ojokdjh ksj{e( jol {dbo{ `f

    doffij|d`o jsn jhsnjlt ngnsbdob do qhjkn{ hdin Kedoj

    jol |en ^I/

    \en onu| {e`n |` ls`q rdhh {~snht cn |en c`ol gjsin|j{ d| ldl `vns ;1 tnjs{ jb`/ Do|nsn{| sj|n{ s`kin|nl do

    |en hj|n :421{ jol |ej| d{ cjl f`s c`ol qsdkn{/ \ ljt

    b`vnsogno|{ js`~ol |en r`shl onnl |` c`ss`r j h`| `f

    g`ont |` ojokn |ends lnkd|{ jol |en gjsin|{ jsn b`dob

    |` nujk| j edbens qsdkn f`s |ej| g`ont/

    J{ snjh n{|j|n( {|`ki{ jol c`ol{ knj{n |` cn j||sjk|dvn

    dovn{|gno|{( |ej| hnjvn{ |en qsnkd`~{ gn|jh{ j{ j {|`sn

    `f vjh~n/ \en {dhvns gjsin| d{ g~ke {gjhhns |ejo |en b`hl

    gjsin| jol do |en :421{ cnkjgn k`sonsnl ct |en E~o|

    Cs`|ens{( f`skdob |en qsdkn |es`~be |en s``f ~o|dh |en

    gjsin| s~hn{ rnsn kejobnl jol |en qsdkn {h~gqnl/

    Jhh `vns |en r`shl b`vnsogno|{ fjkn g`~o|dob

    lnkd|{ l~n |` |ends cjdh`~| qjkijbn{ jol j {e`s|fjhh

    do |juj|d`o fs`g |en r`s{| snkn{{d`o {dokn |en [nk`ol

    R`shl Rjs/ \ed{ gnjo{ j bdbjo|dk b`vnsogno|'

    c`ss`rdob qs`bsjggn d{ do qs`bsn{{/ Jol rej| f`hh`r{

    doksnj{nl b`vnsogno| c`ss`rdob0 Edbens/ \ed{ {h`rht(

    `s o`| {` {h`rht( lnvjh~n{ |en lnc| c~slno `f edbe c`ol

    d{{~jokn `vns |dgn/

    \eno rej| ejqqno{ d{ |ej| c`ol c~tns{ rd{n ~q jol

    lngjol edbens jol edbens sj|n{ `f do|nsn{| |` f~ol

    b`vnsogno| lnc|/ [` t`~ nol ~q hdin do |en hj|n :421{

    rd|e edbe do|nsn{| sj|n{ jol edbe doffij|d`o/ \ej| jh{`

    gnjo{ h`rns c`ol qsdkn{ j{ do|nsn{| sj|n{ sd{n/

    \en sn{~h| d{ g`sn c~tns{ f`s b`hl jol {dhvns |`

    cnj| doffij|d`o do j |dbe| gjsin| `o

    |en {~qqht {dln( jol |en qsdkn b`n{

    {e``|dob ~q/

    Do|nsn{| do c~tdob {dhvns j{

    |en qsnkd`~{ gn|jh cn{| {~d|nl|` enlbdob jbjdo{| doffij|d`ojst

    b`vnsogno| lnc| hnvnh{ js`~ol |en

    r`shl d{ bs`rdob jg`ob dovn{|`s{/

    Df t`~ h``i sj|d`ojhht j| :1 tnjs{ `f

    sd{dob qsnkd`~{ gn|jh qsdkn{ |eno |en

    {|`st |` lj|n ej{ cnno `on `f {h`r

    c~| {~sn bs`r|e( hnjvdob b`hl qsdkn{ f`~s |dgn{ edbens

    jol jk|~jhht |en cn{| qnsf`sgdob j{{n| khj{{ `f |en qj{|

    lnkjln( jqjs| fs`g {dhvns redke d{ ~q {du'f`hl( jhcnd|

    rd|e fjs bsnj|ns v`hj|dhd|t jh`ob |en rjt/

    \ensn d{ o` 51 qns kno| qsdkn {qdin do |en qj{| :;

    g`o|e{ hdin ^[ {|`ki{/ Dolnnl( |en f~oljgno|jh lsdvns{

    `f b`hl jol n{qnkdjhht {dhvns qsdkn{ jsn {|dhh do qhjkn/E`rnvns( hdfn d{ onvns |ej| nj{t f`s dovn{|`s{/ [dhvns

    d{ v`hj|dhn jol fnhh ct g`sn |ejo b`hl do |en 3115 {nhh'

    `ff/ Rdhh |ed{ ejqqno jbjdo df dol~{|sdjh k`gg`ld|dn{

    fjhh l~n |` gjsbdo kjhh{ do j fjhhdob {|`ki gjsin|0 Jol

    d| rj{ |ed{ hdz~dlj|d`o `f |en kjsst |sjln |ej| cs`~be|

    qsnkd`~{ gn|jh{ l`ro do 3115/

    T`~ kjoo`| cn {~sn/ \eno jbjdo df t`~ l` o`| dovn{|

    o`r t`~ gdbe| gd{{ |en cn{| qsdkn hnvnh{/ \en gjsin|

    ktkhn ej{ g`vnl `o {dokn 3115 jol dovn{|`s{ jsn o`|

    {` edbeht hnvnsjbnl jol |ensnf`sn gjt rnhh o`| ejvn |`

    l~gq |ends b`hl jol {dhvns do j ksj{e/

    Qn|ns K``qns d{ |en nld|`s `f jsjcdjog`ont/on|

    \ensn d{ jo jsb~gno| |` cn gjln jc`~| j snqnj| `f |en :421{ qsnkd`~{gn|jh{ c``g cndob do |en r`si{ |`ljt( rd|e {dhvns |en q`{{dchn rdoons/QN\NS K@@QNS

    O`|n |ej| {dhvns d{|en oht k`gg`ld|t

    do |en r`shl o`|| ejvn qj{{nl d|{qsnvd`~{ jhh'|dgn

    edbe/

    [DHVNS \@ [EDON CSDBE\NS

    \EJO B@HL0

  • 8/9/2019 Gulf Business | June 2010

    17/98

  • 8/9/2019 Gulf Business | June 2010

    18/98

    \EN K@GGNO\DO[DLN \SJKI

    :6b~hfc~{don{{/k`g M~on 31:1

    D| d{ j bdvno do jot ojokn khj{{ |ej| |en dovn{|`s

    d{ sj|d`ojh/ \en dovn{|`s( d| d{ |j~be|( gjin{ ed{

    lnkd{d`o{ cj{nl `o fjk|{ jol onvns jhh`r{ ed{

    ng`|d`o{ |` qhjt j s`hn do ed{ jk|d`o{/

    Rej| j h`jl `f s~ccd{e/ G`{| qn`qhn ejvn cnno

    |j~be| |ed{ |en`st redke gjin{ o` {no{n tn| rn |nol

    |` jkknq| d| j{ j snjhd|t/ J{ ch``l'jol'b~|{ e~gjo{(

    rn jsn nuqnk|nl |` gjin rej| d{ do n{{nokn j vnst

    qns{`ojh lnkd{d`o rensn |` q~| `on{ g`ont rd|e jo

    dgqns{`ojh ntn ' @f k`~s{n( d| d{ onjsht dgq`{{dchn/

    E`r ldl |ed{ ~osnjhd{|dk nuqnk|j|d`o cnk`gn |en

    {|joljsl |ej| qn`qhn cj{n |ends dovn{|dob dlnj{ o0

    [dgqhn sj|d`ojh d{ nj{t |` kjhk~hj|n do f`sg~hj{ redhn

    dssj|d`ojh d{ o`|/ \ed{ d{ ret t`~ rdhh {nn |ej| |j~be| do

    ~odvns{d|dn{ j{ rnhh j{ do |en gjot

    c``i{ |jhidob jc`~| dovn{|dob/

    @vns |en qj{| |r` lnkjln{( m~{| do

    |en ^[ {|`ki gjsin| jh`on( rn ejvnejl |esnn {dbodkjo| ksj{en{/ \en

    s{| rj{ do :452/ \en {nk`ol rj{ do

    311:/ \en hj{| `on rj{ |en ksd{d{ |ej|

    |en Hnegjo Cs`|ens{ k`hhjq{n {n|

    do|` g`|d`o/ Do |ej| {jgn qnsd`l `f

    |dgn( rn ejvn ejl |en {jgn qn`qhn

    dovn{|dob do |en gjsin| `vnsjhh

    rd|e |en nuknq|d`o cndob |en onr

    dovn{|`s{ re` ejl o`| nuqnsdnoknl

    |en{n {e`ki{/ Ejl |ent o`| hnjsonl fs`g |en{n lsjgj|dk

    df o`| {nd{gdk {edf|{0 \en khnjs jo{rns d{ o` cnkj~{n

    |ent jhh qhjtnl |ends qjs| do nd|ens gjidob d| ejqqno `s

    r`s{nodob d| jf|ns d| ejqqnonl/ Fdojokdjh gnh|l`ro{innq `o ejqqnodob jol rdhh k`o|do~n |` cnkj~{n |en `hl

    jljbn onvns jbjdo `oht jqqhdn{ |` sj|d`ojh |edoins{ jol

    o`| |` |en qn`qhn re` jsn lsdvno ct bsnnl `s ct fnjs/ \en

    `oht `on{ re` rdhh onvns {~ffns fs`g |en{n bsnj| {edf|{

    jsn |e`{n re` ejvn jhh`rnl |eng{nhvn{ |` cn ld{kdqhdonl

    no`~be |` |jin |eng{nhvn{ jrjt fs`g |en btsj|d`o{

    kj~{nl ct nd|ens bsnnl `s fnjs/ Do `|ens r`sl{( |ent |sjdo

    |eng{nhvn{ |` cn sj|d`ojh dovn{|`s{/ \ed{( D jg {jl |`

    {jt( d{ o`| |en o`sg/

    Rn |`` ejvn nuqnsdnoknl `~s `ro dssj|d`ojh cnejvd`s

    do |en snbd`o/ Sjkn( do|nhhdbnokn( snhdbd`o `s q`hd|dkjh

    hnjodob{ ejvn o` cnjsdob `o |ed{ idol `f dssj|d`ojh

    cnejvd`s/ \en snj{`o f`s |ej| d{ |ej| bsnnl jol fnjs

    |en |r` g`|dvj|`s{ cnedol d| jsn {ejsnl ct jhh qn`qhn{/

    Jol |e`{n ng`|d`o{ ejvn k`o|sdc~|nl |` gjidob |en{n

    ksd{n{ bsnj|ns do gjbod|~ln/ @vns |en hj{| vn tnjs{ rn

    {jr rej| dssj|d`ojh cnejvd`s `o |en qjs| `f |en dovn{|`s

    kjo l` do |en h`ob s~o/ Rn {jr j bs`r|e do hjol vjh~n

    j| j fsdbe|nodob qjkn( rd|e 31'>1 qns kno| doksnj{n{

    qns joo~g o`| ~ok`gg`o/ Do fjk|( |ensn rj{ j {qnkdjh

    qeno`gno`o ejqqnodob do |en snjh n{|j|n dol~{|st rnsn

    qn`qhn rnsn hdodob ~q |` c~t ldsnk| fs`g |en lnvnh`qns j|

    nu`scd|jo| qsdkn{ `oht |` dggnldj|nht {nhh d| |` jo`|ens

    dssj|d`ojh dovn{|`s j| j gjsi ~q c~| rd|e o` jllnl

    vjh~n/ \ed{ rj{ k`o{dlnsnl jkknq|jchn cnkj~{n qn`qhn

    rnsn ~{dob |en jljbn `f sdkens |ejo |e`~( {|~qdlns

    |ejo |e`~ rd|e`~| jk|~jhht io`rdob

    |ej| |` cn |en kj{n/ \ends dssj|d`ojh

    cnejvd`s gjln d| jkknq|jchn f`s |eng

    |` {nhh {`gn|edob |ej| |ent ldl o`|jk|~jhht ejvn |` {`gn`on nh{n re`

    ejl( do ed{ gdol( jhsnjlt {`hl d| |` tn|

    jo`|ens qns{`o j| j qs`| nvno |e`~be

    o`|edob qet{dkjhht jk|~jhht ejqqnonl/

    Jol onjsht nvnst`on c`~be| do|`

    |en {kengn cnkj~{n |ent snj{`onl

    z~d|n rs`obht |ej| d| rj{ j {`hdl

    dovn{|gno|/ O`|edob k`~hl ejvn cnno

    f~s|ens fs`g |en |s~|e/

    Tn| |en{n qeno`gnoj innq `o snqnj|dob |eng{nhvn{

    |dgn jol |dgn jbjdo/ Jhh rn ejvn |` l` d{ h``i cjki |`

    rej| |en I~rjd|d{ kjhhnl {`~z jh gjojie do |en ndbe|dn{

    jol rej| ejqqnonl |ensn `s |en [j~ld {|`ki nukejobn`oht snkno|ht reno d| ls`qqnl fs`g 31(111 q`do|{ |`

    6(111( `s |ensn jc`~|( do j gj||ns `f g`o|e{( rdqdob `~|

    cdhhd`o{ f [j~ld sdtjh{ |ej| onvns snjhht nud{|nl/ \en

    {jgn k`~hl ejvn cnno {jdl f`s |en ^JN reno do :445

    rd|edo j |esnn rnni qnsd`l |en oj{kno| {|`ki gjsin|

    nuqh`lnl |` onr endbe|{ j e~olsnl f`hl jol |eno( f`s o`

    jqqjsno| snj{`o( dgqh`lnl rd|e |en {jgn b~{|`/ Tn| |en{n

    dovn{|`s{ jsn {~qq`{nl |` cn sj|d`ojh0

    \en `hl Jsjc{ ~{nl |` {jt |ej| |ent l`o| c~t {e do

    |en {nj/ O`r |ej| d{ j sj|d`ojh dovn{|`s/

    Gd{ejh Ijo`` d{ lnq~|t kejdsgjo `f |en Ijo`` Bs`~q/

    bcAg`|dvj|n/jn

    BSNNL JOL FNJS LSDVN

    DSSJ\D@OJH DOVN[\@S[J {~kkn{{d`o `f nk`o`gdk c~cchn{ ld{qs`vn |en gt|e `f |en sj|d`ojh dovn{|`s/

    Ng`|d`o{ jsn {|dhh j| |en enjs| `f g`{| `f `~s {|~qdl lnkd{d`o{/GD[EJH IJO@@

    Fdojokdjh

    gnh|l`ro{ innq`o ejqqnodob jolrdhh k`o|do~n |`cnkj~{n |en `hl

    jljbn onvns jbjdo`oht jqqhdn{ |`

    sj|d`ojh |edoins{/

  • 8/9/2019 Gulf Business | June 2010

    19/98

  • 8/9/2019 Gulf Business | June 2010

    20/98

    :5b~hfc~{don{{/k`g M~on 31:1

    \EN K@GGNO\ NGNSBDOB GJSIN\[

    \en lnkjln{ f kdvdh rjs ejvn {kjsnl jrjt gjot

    gjdo{|snjg |`~sd{|{( nvno |e`~be |en be|dob rj{ g`{|ht

    k`oonl |` |en o`s|e jol o`s|enj{|/ \ ljt( e`rnvns( {`gn

    `c{nsvns{ cnhdnvn [sd Hjoij k`~hl cnk`gn |en \ejdhjol `f

    [`~|e J{dj f`s |`~sd{|{/

    J{ jo dovn{|gno| |engn |ed{ gdbe| j||sjk| f~ol{ do|` [sd

    Hjoijo E`|nh {|`ki{ |ej| |sjln j| h`r vjh~j|d`o{ jol g~h|d'

    tnjs h`r{/ L~sdob |en s{| qnjkn |jhi{ do 311>( [sd HjoijoE`|nh {|`ki{ {~sbnl )311 qns kno|/ O`r rn k`~hl {nn j

    snqhjt `f |ed{ b`dob f`srjsl/

    \en nol `f |en kdvdh rjs ej{ jh{` {qnl ~q |en [sd

    Hjoijo b`vnsogno|{ onb`|dj|d`o{ rd|e |en Do|nsoj|d`ojh

    G`on|jst F~ol %DGF$ f`s j {|jolct fjkdhd|t f ,:/4 cdhhd`o/

    Jo DGF jbsnngno| r`~hl qs`vdln {~qq`s| |` sn{nsvn{

    jol ejvn `|ens q`{d|dvn nffnk|{ {~ke j{ dgqs`vdob

    dovn{|`s k`olnokn jol {~qq`s| f`s |en

    nukejobn sj|n/

    M~{| e`r g~ke g`ont [sd Hjoij

    do |`|jh onnl{ |` snc~dhl d|{nhf d{ {|dhh

    ~oio`ro/ C~| m~{| |en dod|djh dovn{|gno|

    onnlnl |` u |en {|jhhnl nk`o`gt do |eno`s|e jol nj{| d{ ,> cdhhd`o( jkk`sldob |`

    b`vnsogno| n{|dgj|n{/ S`jl{( csdlbn{(

    {ke``h{( e`{qd|jh{( q`rns qhjo|{ jol nvno

    e`gn{ ejvn |` cn c~dh| jfsn{e/ [`( |en

    ojh |jhht rdhh cn {nvnsjh |dgn{ hjsbns/

    C~| |en {rnn| {q`| f`s |en f`sndbo

    dovn{|`s d{ o`| |en rjs }`on/ \en snhj|dvnht qnjknf~h

    Rn{|nso Qs`vdokn( rensn K`h`gc` d{ h`kj|nl( d{ j snjlt

    gjsin| rjd|dob |` cn |jqqnl f~hht/ \en dofsj{|s~k|~sn jol

    j k`o{~gns nk`o`gt jsn jhsnjlt |ensn( c~| |en rjs inq|

    jrjt gjot qs`vdlns{ f b``l{ jol {nsvdkn{/ \ent rdhh k`gn

    o`r/ \en kjqd|jh( K`h`gc`( redke jkk`~o|{ f`s ejhf f [sd

    Hjoij{ ,

  • 8/9/2019 Gulf Business | June 2010

    21/98

    Jlvns|d{gno| Fnj|~sn

  • 8/9/2019 Gulf Business | June 2010

    22/98

    Jlvns|d{gno| Fnj|~sn

  • 8/9/2019 Gulf Business | June 2010

    23/98

    Jlvns|d{gno| Fnj|~sn

  • 8/9/2019 Gulf Business | June 2010

    24/98

    Jlvns|d{gno| Fnj|~sn

  • 8/9/2019 Gulf Business | June 2010

    25/98

  • 8/9/2019 Gulf Business | June 2010

    26/98

    \EN K@GGNO\JBSDK^H\^SN

    31b~hfc~{don{{/k`g M~on 31:1

    Jf|ns tnjs{ `f onbhnk|( jbsdk~h|~sn ej{ sn'ngnsbnl j{

    j {nk|`s |` rj|ke/ \en snkno| {~sbn do f``l lngjol

    jol |en j{{`kdj|nl sd{n do do|nsoj|d`ojh f``l

    qsdkn{ ejvn snvd|jhd{nl jbsdk~h|~sn/ K`~o|sdn{ |ej|

    ejvn gjdo|jdonl j {|s`ob {nk|`s ejvn cnon|nl do |nsg{ `f

    bsnj|ns `qq`s|~od|dn{ do jbsdk~h|~sjh jol qs`kn{{nl f``l

    nuq`s|{/ \ent jsn jh{` jchn |` no{~sn |ej| |ends `ro qn`qhn

    ejvn jvjdhjchn jol jff`sljchn f``l/ K`~o|sdn{ rd|e ~olns'

    jkednvdob `s hdgd|nl jbsdk~h|~sn {nk|`s{ gjt fjkn jo ~qrjsl

    {qdsjh `f {e`s|jbn{ jol doksnj{dob f``l {~c{dldn{/

    Snkno| n{|dgj|n{ doldkj|n |ej| bs`{{ l`gn{|dk qs`l~k|

    %BLQ$ `sdbdoj|dob fs`g jbsdk~h|~sn d{ j| hnj{| |rdkn j{

    nffnk|dvn do snl~kdob q`vns|t j{ BLQ fs`g `|ens {nk|`s{/

    \en{n ngnsbdob |snol{ jol {edf|{ jsn snq`{d|d`odob

    |en {nk|`s f`s doksnj{nl dovn{|gno| jol doo`vj|d`o( jol

    qhjkdob d| j| |en f`snfs`o| f b`vnsogno| q`hdkt/ J{ j

    sn{~h|( Gdllhn Nj{| jol O`s|e Jfsdkj %GNOJ$ k`~o|sdn{

    jsn snldsnk|dob |ends j||no|d`o |`rjsl{

    |en jbsdk~h|~sn {nk|`s/ \ends jdg d{

    |` |sjo{f`sg d| do|` jo nobdon f`s

    nk`o`gdk bs`r|e( m`c ksnj|d`o( joldo|nsoj|d`ojh |sjln/

    GNOJ k`~o|sdn{ jsn nok`~sjbnl ct

    |en nujgqhn `f `|ens k`~o|sdn{ |ej|

    ejvn {~kkn{{f~hht |sjo{f`sgnl |ends

    jbsdk~h|~sn {nk|`s{/ F`s do{|jokn( Csj}dh

    jlm~{|nl d|{ ks`q gdu |` cn||ns sn{q`ol

    |` h`kjh jol do|nsoj|d`ojh lngjol(

    jol j{ j sn{~h| |sdqhnl d|{ jbsdk~h|~sn

    |sjln {~sqh~{ `vns j qnsd`l `f |no

    tnjs{/ Do jo`|ens nujgqhn( Dol`on{dj snf`sgnl hnbd{hj|d`o(

    dofsj{|s~k|~sn( |nkeo`h`bt jol {nsvdkn{/ D| {~kknnlnl do

    snjhd{dob {dbodkjo| qs`l~k|dvd|t bjdo{9 d| jh{` doksnj{nl

    jbsdk~h|~sn{ k`o|sdc~|d`o |` oj|d`ojh BLQ redhn snl~kdob|en qnskno|jbn `f |en c~lbn| {qno| `o d|( {dokn |en {nk|`s

    cnkjgn g`sn j||sjk|dvn |` qsdvj|n dovn{|`s{/

    \` snqhdkj|n {~ke jbsdk~h|~sjh |sjo{f`sgj|d`o do |en

    GNOJ snbd`o( q`hdktgjins{ g~{| s{| nvjh~j|n |en

    jvjdhjcdhd|t jol z~jhd|t `f |ends cj{dk sn{`~skn{= jsjchn

    hjol( rj|ns( {nnl{( fns|dhd{ns{( qn{|dkdln{( fjsg hjc`~s( jol

    kjqd|jh/ F`s gjot GNOJ k`~o|sdn{( qjs|dk~hjsht do |en

    B~hf( d{{~n{ {~ke j{ rj|ns {e`s|jbn{ gjin d| ~ohdinht |ej|

    jbsdk~h|~sn rdhh cn j vdjchn {nk|`s f`s snf`sg/

    F`s k`~o|sdn{ re`{n cj{dk sn{`~skn{ l` `ffns j {|s`ob

    cj{d{ f`s snf`sg( q`hdktgjins{ {e`~hl k`o{dlns |esnn

    ksd|dkjh {|nq{ |` kjqd|jhd{n `o jbsdk~h|~sn{ |~sojs`~ol/

    J{{n{{ {nk|`s {|snob|e{ jol rnjion{{n{=\ {nd}n |en

    {nk|`s{ q`|no|djh( b`vnsogno|{ g~{| q~| nojchns{ do qhjkn |`

    {~qq`s| jol qs`g`|n d|/ \en{n dokh~ln q`hdkt jol snb~hj|d`o{(

    `sbjod{j|d`o jol {nk|`s b`vnsojokn( dofsj{|s~k|~sn( sn{njske

    jol |nkeo`h`bt( jol jbsdk~h|~sjh {nsvdkn{/

    J{ q`hdktgjins{ {|sdin j cjhjokn cn|rnno |en nfkdno| ~{n

    `f sn{`~skn{ jol |en lnvnh`qgno| `f {~qq`s|dob nojchns{(

    |ent {e`~hl {t{|ngj|dkjhht dlno|dft jsnj{ `f {|snob|e jol

    `qq`s|~od|t( j{ rnhh j{ kejhhnobn{( |esnj|{( jol ~olnshtdob

    kj~{n{ `f qs`chng{/

    Lnvnh`q j k`gqsneno{dvn |sjo{f`sgj|d`o qhjo= Cj{nl

    `o |en `vnsvdnr `f |en {nk|`s{ rnjion{{n{( q`hdktgjins{

    g~{| lnvnh`q j |sjo{f`sgj|d`o {|sj|nbt ct ln|nsgdodob

    |ends {|sj|nbdk `cmnk|dvn{ jol ln{dbodob dod|dj|dvn{ |`

    snjke |eng/ F`s do{|jokn( |` snjhd{n qs`l~k|dvd|t bjdo{

    jol doksnj{n {kjhn( dod|dj|dvn{ r`~hl dokh~ln doksnj{dob

    dovn{|gno|{ do jbsdk~h|~sn sn{njske

    jol lnvnh`qgno|( snvjgqdob fjsgns{

    |sjdodob qs`bsjggn{ jol dokno|dvd{dob

    hjol k`o{`hdlj|d`o jol bs`~q fjsgdob/

    J{{n{{ |en qhjo{ nk`o`gdk dgqjk|= \en

    ojh {|nq d{ |` j{{n{{ e`r |en {|sj|nbt

    rdhh jffnk| |en ksd|dkjh gjks`nk`o`gdk

    jol {nk|`s'{qnkdk doldkj|`s{/

    N{|dgj|dob jol k`gg~odkj|dob |en

    dgqjk| o doldkj|`s{ {~ke j{ BLQ(

    ngqh`tgno|( |sjln cjhjokn( fjsgns

    qs`|jcdhd|t( qs`l~k|dvd|t jol f`sndbo

    ldsnk| dovn{|gno| d{ qdv`|jh do {nk~sdob c~t'do jol

    k`ggd|gno| fs`g no|d|dn{/

    Jbsdk~h|~sn{ ed{|`st `f h`r qs`|jcdhd|t( {|jbojo|

    qs`l~k|dvd|t jol sd{dob doq~| k`{|{ ejvn snolnsnl |en {nk|`s~oj||sjk|dvn |` dovn{|`s{( q`hdktgjins{( jol |en r`sif`skn/

    D| d{ do onnl `f lnnq {|s~k|~sjh snf`sg{/ F`s|~oj|nht( |en

    snkno|ht ngnsbdob bh`cjh |snol{ ejvn |sdbbnsnl j gjm`s

    {edf| do |en {nk|`s{ nk`o`gdk q`|no|djh/ \ensn jsn onr

    `qq`s|~od|dn{ f`s b`vnsogno|{ jol qsdvj|n dovn{|`s{ |` r`si

    k`hhjc`sj|dvnht do |sjo{f`sgdob jbsdk~h|~sn do |en GNOJ

    snbd`o/ Rd|e k`gcdonl q~chdk jol qsdvj|n {~qq`s| jol

    dovn{|gno|{( jbsdk~h|~sn kjo {enl d|{ snq~|j|d`o j{ j c~slno

    `o b`vnsogno| sn{`~skn{ jol snkhjdg d|{ s`hn j{ `on `f |en

    s{| jol g`{| dgq`s|jo| nobdon{ `f nk`o`gdk bs`r|e/

    Ct Bn`sbn J|jhhje %qdk|~snl$ qjs|ons rd|e C``} & K`gqjot(

    jol Cd{gj Cns|d( k`o{~h|jo| rd|e C``} & K`gqjot/

    SNONRNL E@QN F@SJBSDK^H\^SNJ ffijbbdob dol~{|st `ffns{ onr q`{{dcdhd|dn{ f`s nk`o`gdk bs`r|e

    f`s |en Gdllhn Nj{| jol O`s|e Jfsdkj/

    C@@] & K@GQJOT

    GNOJ k`~o|sdn{

    jsn nok`~sjbnlct |en nujgqhn `f

    `|ens k`~o|sdn{ |ej|ejvn {~kkn{{f~hht|sjo{f`sgnl |ends

    jbsdk~h|~sn {nk|`s{/

  • 8/9/2019 Gulf Business | June 2010

    27/98

    G@SN \EJO M^[\ B@HF

    \nsg{ jol k`old|d`o{ jqqht/

    \ c``i t`~s qsnfnssnl |nn |dgn( kjh h `s ngjdh ~{=

    Qe`on= 1< 61: 1:::

    Ngjdh= jhcjldjb`hfAdkelfk/jn rrr/jhcjldjb`hfkh~c/jn

    Jh Cjldj B`hf Kh~c {rdob{ do|` {~ggns rd|e jo ~ocnj|jchn Bsnno Fnn qs`g`|d`o( k`gcdodob bsnj| b`hf rd|e ldodob j|

    [qdin{ sn{|j~sjo|/ Qhjt :5'e`hn{ j| |en kejgqd`o{edq b`hf k`~s{n `vns j hj kjs|n ldodob dokh~{dvn `f {nhnk|nl cnvnsjbn{/

    \ed{ lnjh ed|{ |en {q`|* \jin j rjhi rensn |en bsj{{ d{ bsnnons/ Sn{nsvn t`~s jqqn|d}dob {n||dob hdin o` |ens/

    Sj|n{ f`s |en qs`g`|d`o=

    JNL 344/

    JNL ;44/

  • 8/9/2019 Gulf Business | June 2010

    28/98

    \EN K@GGNO\ hn||ns{Ab~hfc~{don{{/k`g

    KNHNCSJ\DOB KHJSD\T

    \ejoi t`~ f`s |en k`gqsneno{dvn

    snq`s| o cjoi{ C`||`gnl ~| %B~hf

    C~{don{{( Gjt 31:1$ D e`qn |en snq`s|d{ j hn{{`o | |en B~hf{ cjoi{/ \en

    `on{ |ej| ejvn fjhhno do |en sjoidob{

    ejvn qs`cjcht l`on { cnkj~{n f q``s

    q`hdkdn{/ \en {|joljsl f {nsvdkn jol |en

    do|nbsd|t f dovn{|gno| jol jojht{d{ jhh

    onnl | cn sjd{nl/ Jol qnsejq{ |en cd|

    `o o`o'qnsf`sgdob h`jo{ chjgnl f`s

    g~ke f |en snbd`o{ rnjion{{ do qs`|

    qnsf`sgjokn gnjo{ Dhh {|`q bn||dob

    KH^\\NS DO \EN GJIDOB0

    D| d{ do|nsn{|dob |` o`|n |en do|no{n k`gqn|d|d`o cn|rnno B~hf

    nk`o`gdn{ do j cdl |` j{{~gn q`hn q`{d|d`o do |en snbd`o

    fs`g |en Tj{ Gjsdoj Kdsk~d| kejhhnobdob |en Cjesjdo BsjolQsdu |` |en LDFK do L~cjd rsn{|hdob rd|e ,:/> cdhhd`o Cjesjdo

    Fdojokdjh Ejsc`~s jol o`r j vj{| ,5 cdhhd`o Idob Jcl~hhje

    Fdojokdjh Ld{|sdk| csnrdob do Sdtjle/ Redhn |ed{ gdbe| cn b``l

    f`s |en snbd`o( d| d{ r`s|e rndbedob ren|ens d| d{ nz~jhht enjh|et/

    T`~s js|dkhn J qhjkn o |en {|jbn %B~hf C~{don{{( Gjt 31:1$

    sjd{n{ j vnst hnbd|dgj|n k`oknso= Csdki{ jol g`s|js jh`on rdhh

    o`| n{|jchd{e jol ~olnsqdo |en {`hdl snq~|j|d`o f`s ojokdjh

    lnjhdob{ jkednvnl ct |en r`shl{ g`sn gj|~sn h`kj|d`o{/

    D| rj{ m~{| `vns j tnjs jb` do jo`|ens js|dkhn |d|hnl Kh~{|ns

    kh~||ns |ej| j {dgdhjs k`oknso rj{ o`|nl L` dol~{|sdjhkh~{|ns lnvnh`qgno|{ do |en B~hf enhq {|dg~hj|n doo`vj|d`o j{

    cnhdnvnl0 %B~hf C~{don{{( Mjo~jst 3114$/ @oht |dgn rdhh |nhh/

    B~hf C~{don{{ ej{ cnno j| |en f`snfs`o| `f lnvnh`qgno|{

    do snbd`o jol hd||hn r`olns ret d| d{ gt fjv`~sd|n c~{don{{

    gjbj}don( qs`vdldob jo ~ocdj{nl k`vnsjbn f ksd|dkjh c~{don{{

    jol gjojbngno| lnvnh`qgno|{ do |en snbd`o/ Fs`g t`~s k`vns

    qjbn{ {dokn 3115 {|js|dob rd|e do|nsn{|dob z~n{|d`o{ {~ke j{

    BKK Do{~sjokn( j qhnlbn |`` fjs0 %B~hf C~{don{{( :4;9 `s ngjdh |`= hn||ns{Ab~hfc~{don{{/k`g/ Rn sn{nsvn |en sdbe| |` nld| k`ssn{q`olnokn/

    V`h/:> D{{~n: Gjt31:1

    Cjesjdo//////////////CL:/1

    I~rjd|/////////////// IL :/1

    @gjo//////////////// S@ :/1

    Zj|js////////////////// ZS :1

    [j~ldJsjcdj///////[S :1

    ^JN////////////////// LE[ :1

    \EN ONR B^JSL= ^OQ@HD[ENL @GJO \JIN[ @O BHD\]T ^JN \@^SD[G

    \@Q CJOI[ DO \EN BKKEDBE E@QN[G`ob`hdj |en onr ch~nkedq{ gjsin|

    K@O[@HJ\D@O QSD]NKd|t{kjqn f`k~{n{ `o lnhdvnst

    BJGN KEJOBNSHjolgjsi{ Vdqno [n|ed

    DF T@^ C^DHL D\///B~hf ojokdjh kno|sn{ {|dhh {|s~bbhdob

    BC S bd o h k`v s t 1:1 /doll : =1 Q

  • 8/9/2019 Gulf Business | June 2010

    29/98

    Cndob jrjsn `f `on{ ENSD\JBN jh{` gnjo{ k~h|dvj|dob |sjld|d`o{ |ej| hjt |en f`~olj|d`o f`s j qs`{qns`~{ F^\^SN/

    D| d{ rd|e |ed{ io`rhnlbn |ej| rn ejvn qs`vnl j snhdjchn [RD[[ qjs|ons do QSDVJ\N CJOIDOB/ [dokn :2>>/

    [ R D [ [ Q S D V J \ N C J O I D O B [ D O K N : 2 > >

    r r r / k h j s d l n o h n ~ / k ` g

    ed{ Dof`sgj|d`o ej{ cnno ld{|sdc~|nl ct Khjsdlno Hn~ J{{n| Gjojbngno| %L~cjd$ Hdgd|nl/ Snhj|nl fdojokdjh qs`l~k|{ `s {nsvdkn{ jsn `oht jvjdhjchn |` qs`fn{{d`ojh khdno|{ redke z~jhdft j{ khdno|{ ~olns |en L~cjd Fdojokdjh [nsvdkn{ J~|e`sd|t s

    Khjsdlno Hn~ J{{n| Gjojbngno| %L~cjd$ Hdgd|nl d{ l~ht hdkno{nl jol snb~hj|nl ct |en L~cjd Fdojokdjh [nsvdkn{ J~|e`sd|t %LF[J$/

    Khjsdlno Hn~ J{{n| Gjojbngno| %L~cjd$ H|l/L~cjd Do|nsoj|d`ojh Fdojokdjh Kno|snHnvnh ;( C~dhldob O`/ >( \en Bj|n VdhhjbnQ/@/ C`u >16>22 x L~cjd x ^/J/N\nh/ )42: <

  • 8/9/2019 Gulf Business | June 2010

    30/98

  • 8/9/2019 Gulf Business | June 2010

    31/98

  • 8/9/2019 Gulf Business | June 2010

    32/98

    F

    36b~hfc~{don{{/k`g M~on 31:1

    ;1

    ;1

    CT \EN O^GCNS[

    \EN CSDNFDOB\EN SNBD@O

    Y ^JN W

    L~cjd R`shl lnc| lnjhd{ q`|no|djh g`lnh f`s

    Bsnnkn Lnc|'s`kinl L~cjdR`shl{ jbsnngno| rd|e

    d|{ k`sn cjoi ksnld|`s{

    |` nu|nol gj|~sd|dn{ `o

    h`jo snqjtgno|{ {e`~hl

    cn {nno j{ jo nujgqhn

    `f e`r L~cjd jol

    Bsnnkn k`~hl gjojbn

    |ends lnc| qs`chng{( j

    hnjldob cjoins ej{ {jdl/

    \ent {|js|nl j

    qs`kn{{( |en gjsin|d{ fjv`~sjchn( d|{ jo doldkj|d`o `f e`r |edob{ {e`~hl

    cn l`on( Enost J}}jg( Ln~|{ken Cjoi{ %LC$ kednf

    nunk~|dvn do |en Gdllhn Nj{| jol O`s|e Jfsdkj |`hl

    L`r M`on{ Onr{rdsn{/

    J}}jg {jdl |en sn{|s~k|~sdob lnjh k`~hl cn j hn{{`o

    f`s L~cjd redke s`dhnl r`shl gjsin|{ hj{| tnjs rd|e

    d|{ lnc| ksd{d{ do ejolhdob d|{ |`|jh lnc|( redke d{

    n{|dgj|nl ct {`gn jojht{|{ |` cn jc`vn ,:11 cdhhd`o/

    [qnjidob j| jo nk`o`gdk f`s~g do Hncjo`o( J}}jg

    {jdl= \en {~kkn{{ `f L~cjd do sn{|s~k|~sdob d|{ lnc|

    k`~hl jh{` cn jo nujgqhn f`s Bsnnkn( re`{n {`vnsndbo

    lnc| |s`~chn{ k`o|do~n |` rndbe `o bh`cjh gjsin|{(

    ln{qd|n j sn{k~n qjkijbn fs`g |en N~s`qnjo ^od`o jolDo|nsoj|d`ojh G`on|jst F~ol/

    Do gt qns{`ojh vdnr( |en qs`chng{ `f Bsnnkn kjoo`|

    cn {`hvnl ct m~{| bdvdob |eng g`ont |` qjt |ends

    gj|~sdob lnc|{\ent onnl sn{|s~k|~sdob( en {jdl/

    J}}jg jllnl |ej| j k`o|do~nl |dbe|nodob `f fd{kjh

    q`hdkt do Bsnnkn( |es`~be snf`sg{( d{ hdinht |` csdob `o

    g`sn {`kdjh ~osn{|/

    Sn{|s~k|~sdob |ed{ d{ rej| L~cjd ldl= jlgd||dob |ej|

    rn kjoo`| snqjt `o |dgn jol snqjtdob `vns j h`obns qnsd`l

    `f |dgn j| q`{{dcht h`rns do|nsn{| sj|n{( {jdl J}}jg/

    L~cjd R`shl ej{ jbsnnl do qsdokdqhn rd|e d|{ gjdo

    ksnld|`s{ `o sn{|s~k|~sdob ,3;/> cdhhd`o `f lnc|( hdf|dob j

    kh`~l `f ~okns|jdo|t |ej| e~ob `vns |en ngdsj|n{ nk`o`gt/\en b`vnsogno|'`ronl k`obh`gnsj|n {jdl d| r`~hl

    qjt ,

  • 8/9/2019 Gulf Business | June 2010

    33/98

    M~on 31:1b~hfc~{don{{/k`g 32

    Y [J^LD JSJCDJ W

    ,:1/6 cdhhd`o doqs`mnk|{ jqqs`vnl[j~ld Jsjcdj ej{ jqqs`vnl

    `vns ,:1/6 cdhhd`o do qs`mnk|{

    do |en fds{| f`~s g`o|e{ `f

    |en tnjs( d|{ f`sndbo gdod{|ns

    ej{ snvnjhnl/

    \en jqqs`vjh{ f {`gn

    6>3 qs`mnk|{ vjh~nl j|

    ,:1/62 cdhhd`o ~olns{k`sn{

    |ej| [j~ld d{ k`o|do~dob j

    q`hdkt f {qnoldob enjvdht

    `o dofsj{|s~k|~sn qs`mnk|{ |`

    k~{ed`o d|{ nk`o`gt fs`g|en nffnk|{ `f |en bh`cjh

    nk`o`gdk ksd{d{/

    Hj{| tnjs( |en Idobl`g

    {qno| ,;;/5; cdhhd`o do

    qs`mnk| dovn{|gno|( jo

    jg`~o| d| d{ o`r `o |sjki

    |` {~sqj{{/

    Y I^RJD\ W

    IFE hnj{n{qhjon{ |` \~sint

    I~rjd| Fdojokn E`~{nej{ hnj{nl |esnn Jdsc~{

    J;31{ |` \~sid{e Jdshdon{( d|

    joo`~oknl/ Do j {|j|ngno|(I~rjd|{ hjsbn{| D{hjgdk

    hnolns( redke `ro{ jo

    jdsksjf| hnj{dob c~{don{{(

    {jdl |ej| d|{ {~c{dldjst(

    I~rjd|{ Jvdj|d`o Hnj{n

    jol Fdojokn K`( rdhh s~o

    |en hnj{dob qs`kn{{ `o

    cnejhf `f |en cjoi/

    IFE {dbonl jo jbsnngno|

    |` hnj{n |esnn Jdsc~{ J;31'

    311 |` \~sid{e Jdshdon{ f`s j

    qnsd`l f {nvno tnjs{( IFE

    {jdl do j {|j|ngno|/ Jhjfk`ej{ qsnvd`~{ht hnj{nl fdvn

    jdsksjf| |` \~sid{e Jdshdon{

    jol |esnn | \~sint{ [it

    Jdshdon{( |en {|j|ngno| {jdl/

    Y @GJO W

    Jh Mj}nnsj [|nnhl`~chn{ snvno~n{@gjo'cj{nl {|nnhgjins

    Jh Mj}nnsj [|nnh Qs`l~k|{

    K`gqjot bnonsj|nl

    snvno~n{ `f ,;4/5 gdhhd`o do|en fds{| z~js|ns `f 31:1( j{

    \EN CSDNFDOB\EN SNBD@O

    k`gqjsnl |` ,:5/4 gdhhd`o

    f`s |en {jgn qnsd`l hj{|

    tnjs( d| ej{ cnno snq`s|nl/

    \ed{ bs`r|e do snvno~n{ rj{

    {~qq`s|nl ct |en doksnj{n do

    snbd`ojh jol bh`cjh lngjol

    f`s {|nnh qs`l~k|{/

    \en k`gqjot{ |`|jh

    qs`l~k|d`o( dokh~ldob d|{qdqn gdhh jol gnskejo| cjs

    gdhh( {~sbnl |` >6(13; gn|sdk

    |`oon{ do |en fds{| z~js|ns

    `f 31:1( j{ k`gqjsnl |`

    31(21; gn|sdk |`oon{ do |en

    k`ssn{q`oldob qnsd`l hj{|

    tnjs( snk`sldob j bs`r|e `f

    :21 qns kno|/

    Y CJESJDO W

    Cn||ns sjoidob f`snojchdob c~{don{{\en Nojchdob \sjln Dolnu

    31:1 ej{ g`vnl Cjesjdo ~q

    |r` q`{d|d`o{ do d|{ hj|n{|

    sn{~h|{( |` 33ol qhjkn( d| ej{

    cnno joo`~oknl/

    \en dolnu( q~chd{enl

    ct |en R`shl Nk`o`gdk

    F`s~g( j{{n{{n{ k`~o|sdn{

    jks`{{ |en bh`cn `o |en

    do{|d|~|d`o{ jol q`hdkdn{

    |ent ejvn do qhjkn |`

    nojchn |sjln/

    \en idobl`g rj{ sjoinl:>|e bh`cjhht `o nffdkdno|

    c`slns jlgdod{|sj|d`o

    jol 32|e do jvjdhjcdhd|t

    jol ~{n `f dof`sgj|d`o

    jol |nkeo`h`bt/

    Cjesjdo jh{` sjoinl

    edbeht do |nsg{ `f

    |en z~jhd|t `f d|{ q`s|

    dofsj{|s~k|~sn %:2|e$( d|{

    jdsq`s| dofsj{|s~k|~sn

    %31|e$ jol snb~hj|`st

    novds`ogno| %3>|e$/

    Y ZJ\JS W

    B`v| ngqh`tnn{bn| |sdqhn |en qjtQ~chdk {nk|`s ngqh`tnn{

    do Zj|js njso jhg`{|

    |esnn |dgn{ j{ g~ke j{

    |e`{n r`sidob do |en

    qsdvj|n {nk|`s( j {~svnt

    ej{ doldkj|nl/

    \en jvnsjbn g`o|eht qjt

    qjkijbn do |en b`vnsogno|

    {nk|`s d{ ,

  • 8/9/2019 Gulf Business | June 2010

    34/98

    F

    35b~hfc~{don{{/k`g M~on 31:1

    \EN CSDNFDOB\EN SNBD@O

    YFDOJOKN W

    H`jo{ {rnn|nonlf`s D{hjgdk gjsin|L~cjd D{hjgdk Cjoi %LDC$

    ej{ hj~okenl jo ~o~{~jh

    `ffnsdob qns{`ojh h`jo{

    cjkinl ct {~bjs/ \en

    k`~o|st{ `hln{| D{hjgdk

    do{|d|~|d`o d{ `ffnsdob |en

    fds{| [ejsdje'k`gqhdjo|

    qns{`ojh h`jo do |en

    Jsjc r`shl/

    ^olns [ejsdje j cjoi

    kjo `ffns fdojokdob `oht df

    snjh b``l{ kejobn ejol{/

    LDC{ onr qs`l~k|( Jh D{hjgd

    [jhjg Fdojokn( d{ cj{nl

    `o j kno|~sdn{'`hl D{hjgdk

    k~{|`g |ej| bdvn{ fjsgns{

    kj{e f`s j hj|ns lnhdvnst

    `f lj|n{/ Do{|njl `f ~{doblj|n{ j{ |en ~olnshtdob

    k`gg`ld|t( LDC{ fdojokdob

    rdhh cn cj{nl `o j {~bjs

    f~|~sn{ k`o|sjk|/

    YFDOJOKN W

    [~i~i `ffnsdob{sd{n 3< qns kno|

    D{hjgdk c`ol {jhn{ jsn

    bs`rdob j| |en fj{|n{| qjkn

    {dokn 3112 j{ tdnhl{ `o{nk~sd|dn{ k`gqhtdob rd|e

    |en snhdbd`o{ cjo `o do|nsn{|

    fjhh g`sn |ejo |e`{n `o

    ngnsbdob'gjsin| lnc|(

    nvno j{ N~s`qn{ lnc|

    ksd{d{ r`s{no{/

    @ffnsdob{ `f {~i~i

    khdgcnl 3< qns kno| |`

    ,1 qns

    kno| doksnj{n do |en {jgn

    qnsd`l |esnn tnjs{ jb`(

    jkk`sldob |` lj|j k`gqdhnlct Ch``gcnsb/

    \en {qsnjl cn|rnno

    |en jvnsjbn tdnhl f`s |en

    lnc| jol |en |esnn'g`o|e

    H`ol`o do|nscjoi `ffnsnl

    sj|n ojss`rnl ;1: cj{d{

    q`do|{( `s ;/1: qnskno|jbn

    q`do|{( |`

  • 8/9/2019 Gulf Business | June 2010

    35/98

    LJSRDO RS@\N @ON

    @F \EN BSNJ\N[\

    [KDNO\DFDK C@@I[

    NVNS/

  • 8/9/2019 Gulf Business | June 2010

    36/98

    F

    ;1b~hfc~{don{{/k`g M~on 31:1

    Y K@SQ@SJ\N B@VNSOJOKN W

    F`sgns LDFK b`vnso`s snhnj{nl fs`g mjdh\en f`sgns b`vnso`s f

    |en L~cjd Do|nsoj|d`ojh

    Fdojokdjh Kno|sn ej{ cnno

    fsnnl fs`g mjdh jf|ns qjtdob

    cjki j |`|jh `f ,:;/6 gdhhd`o

    en rj{ jkk~{nl `f dhhnbjhht

    |jidob j{ c`o~{n{/

    @gjs Cdo [~hjdgjo(

    f`sgns b`vnso`s `f |en

    fdojokdjh {nsvdkn{ kno|sn(

    d{ {|dhh ~olns dovn{|dbj|d`o

    jol gjt cn dgqhdkj|nl do

    `|ens dssnb~hjsd|dn{( |en

    qs`{nk~|d`o {jdl do jo

    ngjdhnl {|j|ngno|/

    Cdo [~hjdgjo( re` rj{

    ln|jdonl do Gjske do j kj{n

    `f gd{~{n `f q~chdk f~ol{(

    d{ |en g`{| {nod`s L~cjd

    `ffdkdjh |` cn dov`hvnl do j

    k`ss~q|d`o dovn{|dbj|d`o/

    Cdo [~hjdgjo rj{ o`|

    dggnldj|nht jvjdhjchn f`s

    k`ggno| `o |en kj{n/

    YSNJH N[\J\N W

    L~cjd {|js|{ |` lnsnbd{|ns qs`qns|dn{L~cjd dovn{|`s{ re` ejvngd{{nl qjtgno|{ `o |ends

    `ff'qhjo qs`qns|dn{ jsn

    cndob {|sdqqnl `f |ends |d|hn{

    j{ L~cjd Hjol Lnqjs|gno|

    {|js|{ |` lnsnb~hj|n

    qs`chngj|dk qs`qns|dn{/

    E~olsnl{ `f hn||ns{

    rnsn snq`s|nlht {no| |`

    nssjo| dovn{|`s{ `o cnejhf

    `f lnvnh`qns{ |ej| ejvn

    k`gqhn|nl 51 qns kno| `s

    g`sn `f j qs`mnk|/\en snhnj{n `o Jqsdh

    :> `f Nunk~|dvn K`~okdh

    Sn{`h~|d`o 6 `f 31:1

    ej{ jhh`rnl lnvnh`qns{(

    dokh~ldob Ngjjs Qs`qns|dn{(

    Lntjjs Lnvnh`qgno|(

    @godtj| Qs`qns|dn{( Jh Fjmns

    Qs`qns|dn{ jol Jh Gj}jtj

    Snjh N{|j|n( |` snq`{{n{{ |en

    qs`qns|dn{ jol sn|jdo o`|dkn{( `~|

    `f redke 311 dovn{|`s{

    rnsn rdhhdob |` ejvn |ends

    k`o|sjk|{ kjoknhhnl/

    D|{ g`{|ht ejqqnodob

    |es`~be g~|~jh jbsnngno|/// `oht j fnr qn`qhn jsn

    gjidob qs`chng{( \ejod

    |`hl h`kjh gnldj/

    [nd}nl qs`qns|dn{ rdhh

    cn j~k|d`onl ct |en Hjol

    Lnqjs|gno|( rd|e |en f~ol{

    b`dob |` |en lnvnh`qns

    ~ohn{{ |en {jhn{ bnonsj|n

    j {~sqh~{( redke rdhh cn

    qj{{nl `o |` |en `sdbdojh

    c~tns{/ \ejod jllnl |ej|

    o` qs`qns|dn{ ejl tn|

    cnno q~| ~q f`s j~k|d`o/

    [|dhh( |ensn jsn l`}no{ `f

    dovn{|`s{ o`r k`o{dlnsdob

    hnbjh jk|d`o jbjdo{| j

    s~hdob |ent k`o{dlnsfjv`~s{ lnvnh`qns{/

    Ojcdh Jegnl( |en enjl

    `f sn{njske f`s |en snbd`o

    j| Ln~|{ken Cjoi( {jdl |en

    g`vn |` kjoknh k`o|sjk|{

    jol snq`{{n{{ qs`qns|dn{

    rj{ j hj{| sn{`s| f`s

    lnvnh`qns{ re`{n qs`fd|{

    ejl lrdolhnl {dokn |en

    fdojokdjh ksd{d{ |``i e`hl

    jol d| rj{ jh{` j rjt |`

    khnjo `~| |en gjsin|/

    \EN CSDNFDOB\EN SNBD@O

    Csd|d{e no|snqsnon~s

    [ds Sdkejsl Csjo{`o

    ej{ hj~okenl ed{ fds{|

    |nhnk`gg~odkj|d`o{ vno|~sn

    do |en snbd`o rd|e |en {|js|

    `f Vdsbdo G`cdhn do Zj|js

    do qjs|ons{edq rd|e h`kjh

    |nhnk`g{ hnjlns Z|nh/

    \en onr {nsvdkn( jvjdhjchn

    do {|`sn{ jol `ohdon( rdhh

    cn re`hht `ronl ct Z|nh(

    redke hdkno{nl |en Vdsbdo

    csjol f`s jo ~old{kh`{nl

    {~g/ \en lnjh snqsn{no|{

    |en t`~|e'`sdno|nl csjol{

    fds{| f`sjt do|` |enGNOJ snbd`o/

    Zj|js rdhh cn |en fds{|

    do |en snbd`o |` l` |ed{(

    Oj{{ns Gjsjfde( |en Z|nh

    kednf nunk~|dvn {jdl j| |en

    hj~oke/ Rn jsn f`k~{dob

    `o t`~|e jol |en t`~ob'j|'

    enjs| cnkj~{n rn cnhdnvn

    |en Vdsbdo csjol ffns{ f~o

    {nsvdkn{/

    [nsvdob ndbe| k`~o|sdn{

    jol :> gdhhd`o k~{|`gns{

    r`shlrdln( |en ^I'cj{nlVdsbdo G`cdhn `ffns{

    qsn'qjdl g`cdhn {nsvdkn

    redhn qdbbtcjkidob `o j

    oj|d`ojh on|r`si/ Do |en ^[(

    [qsdo| Onu|nh qs`vdln{ |en

    {nsvdkn{ cjkic`on/ Do |en

    ^I( d| d{ \'g`cdhn/ Vdsbdo

    G`cdhn Zj|js `ffdkdjh{ {jdl

    h`kjh{ k`o|sdc~|nl |` |en

    h``i jol fnnh `f |en onr

    csjol( |en `~|hn|{ jol nvno

    |en [DG kjsl{/

    D|{ jc`~| k`oonk|dobqn`qhn o`| m~{| |`

    |nkeo`h`bt( c~| | njke

    `|ens jol |en e`||n{| nvno|{

    js`~ol |`ro( {jdl Nl

    Mnoodob{( |en enjl `f Vdsbdo

    G`cdhn Zj|js/

    Vdsbdo G`cdhn Zj|js

    rdhh oht ffns j qsn'qjdl

    {nsvdkn dod|djhht j| {du ~|hn|{

    jks`{{ L`ej/ Oj|d`ojh jol

    do|nsoj|d`ojh kjhh{ rdhh k`{|

    |en {jgn j| jhh |dgn{/

    Y\NHNK@G W

    Vdsbdo G`cdhn{nsvdkn hj~okenldo Zj|js

  • 8/9/2019 Gulf Business | June 2010

    37/98

  • 8/9/2019 Gulf Business | June 2010

    38/98

    F

    ;3b~hfc~{don{{/k`g M~on 31:1

    \EN CSDNFDOB\EN SNBD@O

    Lnc| sn{|s~k|~sdob f`s

    L~cjd E`hldob d{ cnk`gdob

    g`sn hdinht l~n |` d|{

    nuq`{~sn |` |en qs`qns|t

    {nk|`s jol kj{e fh`r

    qs`chng{( jo jojht{|

    ej{ khjdgnl/

    \en b`vnsogno|'

    `ronl k`obh`gnsj|n d{

    {nno j{ |en onu| {~cmnk|

    `f |en ngdsj|n{ lnc|

    sn{|s~k|~sdob qs`bsjggn(

    redke {|js|nl rd|e L~cjd

    R`shl do O`vngcns( [j~l

    Gj{~l( enjl `f sn{njske

    f`s |en Gdllhn Nj{| jol

    O`s|e Jfsdkj j| cjoi ^C[(

    rj{ z~`|nl j{ {jtdob ct

    Sn~|ns{ Do{dlns/

    Y GNLDJ W

    T ~ob Hd`o rdoons{ joo`~oknlYJVDJ\D@O W

    Ngdsj|n{ |`sn{|js| J;51 |`Onr T`si

    \en rdoons{ `f |en

    ^JN T ~ob Hd`o{ 31:1(

    e`o`~sdob jlvns|d{dob

    qs`fn{{d`ojh{ cnh`r |en jbn`f 35( ejvn cnno {nhnk|nl

    jol joo`~oknl/

    L~cjd Gnldj Kd|t(

    G`|dvj|n Vjh G`sbjo jol

    Ngdsj|n{ jdshdon joo`~oknl

    |en k`gqn|d|d`o rdoons{(

    re` rdhh cn fh`ro `o jo

    jhh'nuqno{n qjdl |sdq |`

    Kjoon{ |` qjs|dkdqj|n do |en

    T`~ob Hd`o{ K`gqn|d|d`o

    j{ qjs| `f |en >2|e Kjoon{

    Hd`o{ Do|nsoj|d`ojh

    Jlvns|d{dob Fn{|dvjh/\en ^JN rdoodob

    |njg k`gqsd{n{ J{esjf

    Gjmdn|( js| ldsnk|`s( jol

    Ljsd` Jhc~z~nsz~n(

    k`qtrsd|ns fs`g \`odk

    K`gg~odkj|d`o{/ \en l~`

    rj{ {nhnk|nl fs`g |en

    |no |njg{ fs`g hnjldob

    ksnj|dvn jbnokdn{ |ej|

    qjs|dkdqj|nl/ Njke tnjs( |en

    qjs|dkdqj|dob |njg{ ln{dbo

    j kjgqjdbo f`s j kejsd|jchn

    `sbjod{j|d`o cj{nl `o j

    ksnj|dvn csdnf |ej| `~|hdon{

    |en kjgqjdbo `cmnk|dvn{/\ed{ tnjs{ kejsd|jchn

    `sbjod{j|d`o rj{ Enhqdob

    Ejol{ ^JN( redke qs`vdln{

    j{{d{|jokn |` k`o{|s~k|d`o

    r`sins{/ \en Ksnj|dvn

    Kh~c k`gqsd{dob {nod`s

    ksnj|dvn{ fs`g L~cjd{

    jlvns|d{dob jbnokdn{

    jg`ob `|ens ld{|dob~d{enl

    qjonhd{|{ qjs|dkdqj|nl do

    |en m~lbdob qs`kn{{/

    Djo Fjds{nsvdkn( gjojbdob

    qjs|ons `f G`|dvj|n Bs`~q(

    {jdl= \ed{ d{ |en ndbe|e

    tnjs |ej| rn ejvn e`{|nl|ed{ nvno|/ Rn jsn qs`~l

    `f |en t`~ob ksnj|dvn

    qs`fn{{d`ojh{ fs`g |en ^JN

    jlvns|d{dob dol~{|st/ \ends

    edbe z~jhd|t `f r`si d{

    snfhnk|nl do |en `~|{|joldob

    no|sdn{ j| |en 31:1 T`~ob

    Hd`o{ k`gqn|d|d`o/

    \en JN T`~ob

    Hd`o{ K`gqn|d|d`o rj{

    {~qq`s|nl ct Bjhh`Bn||t

    Dgjbn{ jol Uns`u/

    Y NK@O@GTW

    L~cjd E`hldob onjsdobonnlnl lnc| snvjgq= jojht{|

    `sbjod{nl ~olns |esnn gjdo

    bs`~qdob{= L~cjd E`hldob

    K`ggnskdjh @qnsj|d`o{

    Bs`~q( L~cjd Do|nsoj|d`ojh

    Kjqd|jh jol L~cjd Bs`~q/

    J lnc| sn{|s~k|~sdob

    `f L~cjd E`hldob r`~hl

    f~s|ens lno| L~cjd{

    snq~|j|d`o f`hh`rdob |en

    {e`ki f L~cjd R`shl{

    ldffdk~h|dn{( Gj{~l {jdl/

    L~cjd E`hldob gjt

    {|s~bbhn |` {nsvdkn lnc|

    jol innq no`~be r`sidob

    kjqd|jh j| |en {jgn |dgn(

    gjidob j lnc| sn{|s~k|~sdob

    ks~kdjh( en jllnl/

    L~cjd kjssdns Ngdsj|n{ rdhhsn{|js| d|{ J;51 fhdbe|{ |`

    Onr T`si o @k|`cns ;:( d|

    joo`~oknl/ \en jdsksjf|{

    sndo{|j|ngno| `o `on `f

    Ngdsj|n{ l`~chn ljdht MFI

    s`~|n{ k`gn{ j{ |en kjssdns

    snq`s|nl j {dbodfdkjo|

    doksnj{n do snvno~n f`s

    |en Jgnsdkj{ do 3114':1(

    snqsn{no|dob j tnjs'`o'tnjs

    sd{n `f 5/: qns kno|/

    [nod`s k`gqjot `ffdkdjh{

    {jdl |en jdshdon rj{h``idob |` jll f~s|ens ^[

    ln{|doj|d`o{ |` d|{ on|r`si/

    Bs`r|e do |en Jgnsdkj{

    enhqnl {|nns |en jdshdon

    |` j on| qs`fd| `f ,46

    cdhhd`o do h`jo{ jol c`ol{

    c~| |ed{ l`n{ o`| dokh~ln

    jot ff'cjhjokn hdjcdhd|dn{

    jsd{dob fs`g dovn{|`s

    `s nol'~{ns lnfj~h| `o

    qs`qns|dn{ |ej| ejvn

    lsjgj|dkjhht lnkhdonl do

    :5 g`o|e{( Gj{~l {jdl/

    \ensn d{ j khnjs kj{e

    fh`r sd{i do L~cjd jol D

    r`~hlo| cn {~sqsd{nl df

    |en {jgn e`hl{ |s~n f`s

    L~cjd E`hldob/

    L~cjd E`hldob e`hl{ j

    {~c{|jo|djh q`s|f`hd` `f

    csjol{ do |en qs`qns|t

    jol e`{qd|jhd|t {nk|`s{(

  • 8/9/2019 Gulf Business | June 2010

    39/98

  • 8/9/2019 Gulf Business | June 2010

    40/98

    ; qns

    kno|( d{ {|dhh do |en chjki jol ffns{

    `qq`s|~od|dn{ |` c~{don{{n{ |ej| kjo

    kjqd|jhd{n o |en bs`r|e/

    Hdon {jdl |ej| |en gjm`s kejhhnobn{

    c~{don{{n{ rdhh fjkn do kjqd|jhd{dob

    c~{don{{ d{ ksd|dkjh/

    Rd|e {nk~sn jkkn{{ |` f~oldob(

    c~{don{{n{ kjo |eno h``i |` {|jfob

    |ends qs`mnk|{ jol qnsj|d`o{ rd|e |en

    |tqn f qs`fn{{d`ojh{ re` rdhh enhq

    dgqs`vn j c~{don{{ kejokn{ `f {~kkn{{/

    @on `f |en b``l |edob{ rd|e |en

    l`ro|~so d{ |ej| |ensn d{ g`sn |jhno|

    jvjdhjchn/ Rn jsn {` g~ke jrjsn `f

    z~jhd|t |`ljt/ Cnf`sn k`gqjodn{ rnsn

    m~{| edsdob( |ent rnsno| f~{{dob jc`~|

    re` |ent rnsn edsdob/ O`r |ent jsn

    g~ke g`sn k`o{kd`~{ f rej| |entsn

    {qnoldob o e~gjo sn{`~skn{/

    T`~ kjo edsn cn||ns z~jhdnl qn`qhn

    f`s |en c~lbn| t`~ ejvn/ D|{ j ffidbe|

    |` z~jhd|t/

    Hdon jh{` {jdl |en |dgn reno kednf

    sd{i `fkns{ rnsn `oht qjs| `f |enhjsbns k`sq`sj|d`o{ d{ b`on( jol g`{|

    c~{don{{n{ kjo cnon| fs`g edsdob `s

    k`o|sjk|dob qs`fn{{d`ojh{ |` j{{n{{

    jol gd|dbj|n sd{i/

    J snkno| {~svnt ct |en Snb~{

    C~{don{{ \sjkins f`~ol |ej| c~{don{{

    hnjlns{ do |en B~hf nuqnk| j s`c~{|

    h`kjh nk`o`gdk snk`vnst |` cnbdo do

    |en s{| ejhf `f 31:1( rd|e 25 qns

    kno| `f sn{q`olno|{ qsnldk|dob h`kjh

    nk`o`gdk bs`r|e rd|edo j tnjs/

    bcAg`|dvj|n/jn

    `o |en ~q|~so jsn {nk~sdob jkkn{{

    |` ojokn |` f~ol qs`mnk|{ jol

    nuqjo{d`o( |en jvjdhjcdhd|t f z~jhd|t

    {|jff |` ejolhn |en onr `qq`s|~od|dn{

    jol sd{i gjojbngno|/

    @on `f |en `qq`s|~od|dn{ do |ed{

    qjs| `f |en r`shl d{ |ej| |ensn d{

    {dbodkjo| qs`bsn{{ |ej| kjo cn

    gjln do {dgqhn |edob{( hdin |en

    z~jhd|t `f ojokdjh snq`s|dob/ \en{n

    |edob{ kjo cn nj{dht dgqs`vnl

    redke rdhh dgqs`vn dovn{|`s jol

    k~{|`gns k`olnokn/

    O`r d{ |en |dgn f`s gjojbns{ |` snjlt |ends c~{don{{n{ f`s |en `qq`s|~od|dn{ jol bs`r|e

    `f |en jrjd|nl nk`o`gdk ~q|~so( ]JSDOJ IEJO snq`s|{/

    \EN CSDNFDOB NK@O@GDK QSNQJSNLON[[

    Gjidob |en g`{| `f |en q`{{dchn ~q|~sod{ jhh jc`~| cndob snjlt/ Df t`~ rjd| f`s|en ~q|~so |` cn ~q`o t`~( d|hh cn |``

    hj|n ct |en |dgn d| ejqqno{/

    J hdobnsdob jol qnsejq{ qnsgjono|

    dgqjk| f |en snbd`o{ nk`o`gdk

    ksd{d{ d{ snl~knl jkkn{{ |` ojokn(

    qjs|dk~hjsht fs`g cjoi{( re` ejvn

    {nsd`~{ht |dbe|nonl hnoldob ksd|nsdj/

    [`gn|edob c~{don{{n{ kjo l` |`q`{d|d`o |eng{nhvn{ d{ |` gjin {~sn

    |ent ejvn nuknhhno| z~jhd|t ojokdjh

    dof`sgj|d`o jc`~| |ends k`gqjot |`

    |jin |` |en cjoi/ D| do{qdsn{ k`olnokn

    do t`~s c~{don{{ o`| m~{| rd|e cjoi{

    jol dovn{|`s{/ Jot`on re` q~|{

    g`ont do j c~{don{{ d{ b`dob |` rjo|

    |` ~olns{|jol g~ke g`sn |ejo |ent

    ldl j fnr tnjs{ jb`/ \ensn jsn b`dob |`

    cn j h`| g`sn z~n{|d`o{ j{inl/ Cndob

    qsnqjsnl |` jo{rns |e`{n z~n{|d`o{

    rd|e khnjs dof`sgj|d`o jc`~| t`~s

  • 8/9/2019 Gulf Business | June 2010

    41/98

  • 8/9/2019 Gulf Business | June 2010

    42/98

    ;6b~hfc~{don{{/k`g M~on 31:1

    Qjdo|dob j q`{d|dvn qdk|~sn

    \en js| gjsin| do |en B~hf

    d{ {|dhh {|s`ob ln{qd|n j

    snkn{{d`o'hdoinl lnffij|d`o do

    qsdkdob( j {nod`s fkdjh fs`g

    Kesd{|dn{ khjdg{ o |en cjki f d|{

    {nvno|e L~cjd js| j~k|d`o/

    \en js| gjsin| ej{ enhl ~q

    snj{`ojcht rnhh( j{ {jvvt dovn{|`s{

    ejvn ffi`kinl |` |jobdchn j{{n|{ do

    redke |` |dn ~q |ends g`ont( {jdl

    M~{{d Qthiijono( Kesd{|dn{ qsn{dlno| N~s`qn jol Gdllhn Nj{|/

    Kesd{|dn{ sjd{nl `vns ,:> gdhhd`o

    j| d|{ L~cjd j~k|d`o hj{| g`o|e( do j

    {jhn fnj|~sdob r`si{ ct qs`gdono|

    Gdllhn Nj{|nso jol Rn{|nso js|d{|{

    dokh~ldob Qdkj{{`( Fjsejl G`{edsd(

    jol Qjsvd} \jojv`hd/

    Jg`ob |en g`sn o`|jchn jol

    edbeht'qsd}nl snbd`ojhht'qs`l~knl

    r`si{ |` b` ~olns |en ejggns rnsn

    do{|jhhj|d`o{ {~ke j{ G`{edsd{ Fhtdob

    Kjsqn| jol \jojv`hd{ Q`n| jol Kjbn(

    jg`ob {`gn 31 r`si{ fs`g GdllhnNj{| js|d{|{ {qjoodob |en Hnvjo| jol

    B~hf snbd`o{/ J o~gcns f |en cn{|

    r`si{ fs`g Gdllhn Nj{| js|d{|{ rnsn

    fs`g |en k`hhnk|d`o f Ls G`ejggnl

    [jdl Fjs{d( f`sgns H`sl Gjt`s `f

    Mnllje/ @on `f |en edbehdbe| {jhn{ rj{

    Gjeg`~l [jdl{ Hn{ Kejl`~f{( redke

    {`hl f`s j snk`sl ,3(1(111 |` ,>11(111( `s do

    Onr T si|ent snjhht l` e`hl |ends

    vjh~n qsn||t rnhh/

    Redhn |en qdk|~sn qjdo|nl ct

    Qthiijono d{ sj|ens `f j s`{t e~n(

    {`gn j||nolnn{ j| |en j~k|d`o

    nuqsn{{nl ld{jqq`do|gno| j| d|{

    sn{~h|{/ \e`~be cdhhnl j{ j {jhn `f

    gj{|nsqdnkn{( `on dol~{|st {`~skn

    re` rd{enl |` sngjdo jo`otg`~{{jdl |ensn rj{ |`` g~ke onr r`si

    ct js|d{|{( redke {e`~hl cn {`hl

    ct h`kjh bjhhnsdn{ sj|ens |ejo cdb

    j~k|d`o e`~{n{/ Fhdkidob |es`~be

    |en kj|jh`b~n( en hd{|nl `ff j fnr

    edbeht'sj|nl r`si{ |ej| fjdhnl |`{nhh( jol gjot `|ens{ |ej| ldl {nhh(

    c~| `oht f`s |en h`rn{| n{|dgj|n{

    jo|dkdqj|nl ct Kesd{|dn{/

    Rd|e :3> qdnkn{ do |`|jh( en {jdl d|

    rj{ j rnji {jhn `vnsjhh( rd|e |en

    gjsbdo{ gjln ct Kesd{|dn{ k`gdob

    fs`g hn{{ |ejo :1 qns kno| `f |en

    qdnkn{ `o {jhn/ Gjot k`hhnk|`s{

    rnsn ld{jqq`do|nl( |ensn rnsn gjot

    r`si{ ct int js|d{|{ |ej| ldlo| {nhh(

    jol gjot j| k`{| qsdkn/

    bcAg`|dvj|n/jn

    \e`~be lnffij|nl bsnj|ht ct |en snkn{{d`o( |en Jsjc js| gjsin| {|dhh ej{ {`gn jsnj{ `f vdcsjokt jol

    do|nsoj|d`ojh j~k|d`o e`~{n Kesd{|dn{ d{ ~qcnj| `o do|nsn{| do h`kjh js|/ Ct BHNOO FSNNGJO

    \EN CSDNFDOB JS\ J^K\D@O

    \en js| gjsin| ej{ enhl ~q snj{`ojchtrnhh( j{ {jvvt dovn{|`s{ ejvn ffi`kinl|` |jobdchn j{{n|{ do redke |` |dn ~q

    |ends g`ont/

    B~hf C~{don{{ |ej|= \en L~cjd gjsin|

    o`r snqsn{no|{ |en `qnodob sjkn `f

    |en kjsl( df t`~ hdin/ Jol d|{ vnst

    dgq`s|jo| |ej| d| {~kknnl{ jol d{ {nno|` cn {~kkn{{f~h/

    [`gn|dgn{ reno D {qnji |` Gdllhn

    Nj{| k`hhnk|`s{|ent l`o| {nn |en

    cs`jlns k`o|nu| `f rej|{ b`dob `o

    ensn/ [` reno |en gjsin|{ ls`qqnl

    cnkj~{n `f |en ojokdjh qs`chng{ Y|ej|

    {|js|nlW :5 g`o|e{ jb`( reno {nhhns{

    rnsn hn{{ k`olno| |` q~| |edob{ `o

    |en gjsin|qn`qhn rnsn k`oknsonl

    |ej| js|r`si{ r`~hlo| e`hl vjh~n jol

    |ej| qs`chng{ r`~hl ~olnsgdon |en

    gjsin| ensn/

    cj{ngno| qsdkn{/

    J h`| f js| k`hhnk|`s{ jsn vnst

    rnjh|et( c~tdob js|r`si{ rd|e

    {qjsn kjqd|jh/ @f|no nvno do |dgn{

    `f bnonsjh nk`o`gdk jlvns{d|t |enrnjh|et l` cnk`gn rnjh|edns( jol |ent

    ejvn kjqd|jh redke d{ nuqnoljchn(

    {jdl Qthiijono/ Do |dgn{ f qsn{{~sn(

    {`gn k`hhnk|`s{ jsn jh{` f`sknl |` {nhh(

    {` {`gn vnst dgq`s|jo| r`si{ f js|

    kjo k`gn `o|` |en gjsin|( {~ke j{

    Qdkj{{`( Kn}joond|{ edbeht hdinht

    |ej| |e`{n rd|e kjqd|jh rdhh kej{n

    |eng Yl~sdob {~ke |dgn{W/

    @on `f >11 js| j~k|d`o{ enhl ct

    Kesd{|dn{ njke tnjs( |en L~cjd j~k|d`o

    gjsi{ |en `qnodob `f |ends {nj{( jol

    j{ {~ke( Qthiijono {jdl d| d{ vnstdgq`s|jo| |ej| d| {~kknnl{/

    \en ljt cnf`sn |en j~k|d`o en |`hl

    Gdllhn Nj{|nso js|d{| FjsejlG`{edsd{ Fhtdob Kjsqn|/

  • 8/9/2019 Gulf Business | June 2010

    43/98

  • 8/9/2019 Gulf Business | June 2010

    44/98

    \EN CSDNFDOB SNJH N[\J\N

    ;5b~hfc~{don{{/k`g M~on 31:1

    Rd|e o` dggnldj|n

    jcj|ngno| |` |en

    {|jbojo| jol nvno

    bh``gt f`snkj{|{ f`s

    L~cjd{ snjh n{|j|n {nk|`s( nuqns|{

    {jt |en |dgn ej{ k`gn f`s |en

    ngdsj|n |` k`o{dlns dgqs`vdob

    fsnne`hl qs`qns|t vd{j qs`vd{d`o{/

    Rn cnhdnvn j int d{{~n d{ |en

    sn{dlnokt vd{j {d|~j|d`o/ Rn r`~hl

    {~bbn{| |ej| do `slns |` j||sjk|

    g`sn do|nsoj|d`ojh dovn{|gno|(

    d| r`~hl cn qsnfnsjchn |` ejvn j

    h`obns vd{j/ \ed{ rdhh jhh`r f`s g`sn

    {nk~sd|t do |en gjsin|( {jdl [|nvn

    G`sbjo( enjl `f Kh~||`o{ L~cjd

    jol Jc~ Lejcd( redhn k`ggno|dob

    `o {|jdl gjsin| qsnldk|d`o{/

    [dokn hj|n 3115( reno |en bh`cjh

    snkn{{d`o {jqqnl hdz~dld|t fs`g |en

    nk`o`gt( |en B~hf{ f`sgns c``g|`ro

    ej{ {nno j {|njlt lnffij|d`o do d|{

    f`sgns ch~n'kedq {nk|`s f snjh n{|j|n(

    redke rj{ o`|nl do Kh~||`o{ L~cjd

    qs`qns|t gjsin| `vnsvdnr( Z~js|nsF`~s 3114/ Snbjsldob qnsf`sgjokn do

    31:1( Kh~||`o{ f`~ol |ej| |en jvnsjbn

    sn{dlno|djh sno| qsdkn{ do L~cjd

    lnkhdonl vns vn qns kno| do |en s{|

    z~js|ns `f |en tnjs/

    [dokn |en snkn{{d`o idkinl ff(

    |ensn ej{ o`| cnno g~ke onr

    do|nsn{| do |en L~cjd sn{dlno|djh snjh

    n{|j|n gjsin| fs`g o`o'sn{dlno|

    dovn{|`s{/ Jojht{|{ {jt g`{| `f

    |en g`vngno| snk`slnl do L~cjd

    qs`qns|t do njsht 31:1 jol hj|n 3114

    rj{ gjdoht do |en f`sg `f nud{|dob^JN sn{dlno|{ |jidob jlvjo|jbn f

    snhj|dvnht h`r qsdkn{ |` {edf| fs`g

    sno|dob |` `rodob/ \en fjhh {nno do

    sn{dlno|djh ~od| qsdkdob do {`gn

    lnvnh`qgno|{ j{ edbe j{ >1 qns kno|

    ejl jh{` j||sjk|nl o`| `oht L~cjd

    sn{dlno|{ re` ejl cnno sno|dob( c~|

    jh{` |e`{n re` ejl cnno sn{dldob do

    |en g`sn jff`sljchn ondbec`~sdob

    ngdsj|n{/ C~| |ej| {edf|'cj{nl

    bs`r|e d{ o`| {~{|jdojchn/ \en

    jvjdhjchn {~qqht `f ^JN sn{dlno|{

    kejobn{ do |en hjr |ej| ejvn hnf|

    ~okns|jdo|dn{/

    Redhn hj{| tnjs |ensn rj{ {`gn

    qs`bsn{{ gjln o |en d{{~n( rd|e

    jo jgnolgno| |` js|dkhn ;; `f |en

    qs`qns|t hjr jhh`rdob `oht |e`{n

    f`sndbons{ re`{n qs`qns|t do L~cjd

    rj{ vjh~nl j| Le{: gdhhd`o %,323(3

  • 8/9/2019 Gulf Business | June 2010

    45/98

  • 8/9/2019 Gulf Business | June 2010

    46/98

    1 qns kno| `f d|{ snvno~n

    fs`g d|{ vns{nj{ qnsj|d`o{( jsn

    o`r ntndob |en JN( Zj|js jol

    [j~ld Jsjcdj do qjs|dk~hjs( rd|e

    bsnj| do|nsn{|/

    Jkk`sldob |` Gj||enr{( |en lngjol

    f`s k`ovno|d`ojh do{~sjokn fs`g

    rd|edo |en ^JN( jol |en bsnj|ns B~hf

    snbd`o( `ffns{ {dbodkjo| q`|no|djh f`s

    |eng/ En cnhdnvn{ |ej| |en c~{don{{g`lnh jljq|nl jol snonl ct Fsdnol{

    Qs`vdlno| vns d|{ :25'tnjs ed{|`st

    redke en ln{ksdcn{ j{ j e~c'jol'

    {q`in g`lnh ~|dhd{dob |en `~|{`~skdob

    `f o`o'k`sn jk|dvd|dn{ r`si{

    nu|sngnht rnhh do |ed{ snbd`o/

    @|ens k`gqjodn{ rd|e `qnsj|d`o{

    do ldffnsno| k`~o|sdn{ jsn |stdob

    |` jl`q| |ed{ g`lnh rnsn ~{dob/

    \en g`lnh d{ z~d|n b``l( jol z~d|n

    ~odz~n/ Rn kjo bn| |en cn{| dlnj{

    fs`g ldffnsno| qhjkn{ jol qh~b |eng

    do|nsn{|dob {nbgno| `f |en gjsin|(

    {jdl Rj|nsnhl( |e`~be en edbehdbe|{

    |ej| |ent ejvn j ldffnsno| {jvdob{

    k~h|~sn/ \en int |` |ed{ gjsin|

    d{ nl~kj|d`o/

    \en jrjsnon{{ `s nl~kj|d`o ' `f

    |en k`o{~gns d{ `on `f |en kejhhnobn{

    |` q`q~hjsd{dob do{~sjokn do bnonsjh

    do |en B~hf/ Rj|nsnhl {jt{ |ensn

    d{ jh{` j hjki f lsdvns{ {~ke j{|juj|d`o csnji{ jol hnbd{hj|dvn

    dgqnsj|dvn{/ Do gjsin|{ {~ke j{ |en

    ^I jol ^[( |en |ju'lnl~k|dcdhd|t `f

    hdfn do{~sjokn jol dok`gn qs`|nk|d`o

    do{~sjokn qsngd~g{ d{ jo jlld|d`ojh

    dokno|dvn f`s khdno|{/ F`s k`sq`sj|d`o{

    do |en{n snbd`o{( |en hnbjhht gjolj|nl

    qs`vd{d`o f qno{d`o {kengn{

    f`s ngqh`tnn{( redke f|no jh{`

    dok`sq`sj|n do{~sjokn nhngno|{( jh{`

    r`si{ do fjv`~s f k`gqjodn{ {~ke j{

    Fsdnol{ Qs`vdlno|/ Rd|edo |en BKK(

    qnon|sj|d`o `f hdfn do{~sjokn `ohtjg`~o|{ |` js`~ol : qns kno| `f bs`{{

    l`gn{|dk qs`l~k|( k`gqjsnl |` 4 qns

    kno| do g`sn lnvnh`qnl gjsin|{/

    Redhn |ensn ejvn cnno snq`s|{

    jg`ob |en h`kjh ^JN gnldj |ej|

    Fsdnol{ Qs`vdlno| rdhh cn g`vdobdo|` D{hjgdk do{~sjokn qs`l~k|{ {~ke

    j{ \jijf~h( Rj|nsnhl e`{nl l`ro

    {~ke {qnk~hj|d`o ct {jtdob |ej|

    k~ssno|ht d| d{ `oht do |en dlnj {|jbn

    jol d{ cndob sn{njskenl/

    \en qhjo d{ |` bs`r |en {kjhn `f

    |ends `qnsj|d`o{ do |en ^JN s{|( rd|e

    |en jdg `f |eno csjokedob `~| f~s|ens

    do|` `|ens jsnj{ `f |en B~hf |e`~be

    |ed{ jh{` lnqnol{ hjsbnht `o ren|ens

    |ent lnkdln |` do|s`l~kn [ejsdje'

    k`gqhdjo| qs`l~k|{/ bcAg`|dvj|n/jn

    do ensn( Gj||enr{ {jdl( jlldob |ej|

    |ent rdhh jh{` cn do|s`l~kdob j h`kjhht

    cj{nl |njg `f ~olnsrsd|ns{ |` |ends

    ^JN qnsj|d`o{ {``o/

    Cndob s{| jol f`sng`{| j

    k`ovno|d`ojh do{~sjokn c~{don{{(

    |en ^JN f`sg{ |en k`sn `f |ends

    f`k~{ do |en Gdllhn Nj{|( bdvno |en

    fjv`~sjchn q`q~hj|d`o lng`bsjqedk{(

    rd|e `vns 51 qns kno| `f sn{dlno|{cndob nuqj|sdj|n{/ Qjs|dk~hjsht jg`ob

    rn{|nso nuqj|sdj|n{( doldvdl~jh{ jsn

    [|jboj|dob bs`r|e jol j ks`rlnl do{~sjokn gjsin| do |en ^[ jol |en ^I d{ lsjrdob Rn{|nso

    do{~sjokn k`gqjodn{ |` |en nvns'nv`hvdob B~hf nk`o`gdn{/ Ct BHNOO FSNNGJO

    \EN CSDNFDOB DO[^SJOKN

    Nvno do j qhjkn hdin |ed{( redke ej{ejl j {h`r'l`ro( d| ej{ r`olnsf~h

    `qq`s|~od|dn{/ Rnsn vnst c~hhd{ejc`~| `~s `vns{nj{ c~{don{{/

    jhsnjlt rnhh jrjsn `f |en cnon|{ `f

    do{~sjokn do qs`|nk|dob rnjh|e jol |en

    hdvnhde``l{ f fjgdht gngcns{/

    Do jlld|d`o |` rn{|nsons{ hdvdobdo |en ^JN( o`o'sn{dlno| Doldjo{

    jh{` e`hl e~bn q`|no|djh( j{ |ent

    jsn |en hjsbn{| {dobhn nuqj| bs`~q do

    gjot B~hf k`~o|sdn{ hdin |en ^JN/

    Jlld|d`ojhht( |ensn jsn nuqj|sdj|n{

    fs`g `|ens qjs|{ `f |en Gdllhn Nj{|(

    re`g Fsdnol{ Qs`vdlno| Gdllhn Nj{|

    jol Jfsdkj bnonsjh gjojbns Gj||enr

    Rj|nsnhl cnhdnvn{ snqsn{no| j e~bn

    qjs| f |en JN q`q~hj|d`o/ Jc`~|

    3; qns kno| `f |en q`q~hj|d`o ensn

    jsn Jsjc nuqj|sdj|n{( redke d{ j vnst

  • 8/9/2019 Gulf Business | June 2010

    47/98

  • 8/9/2019 Gulf Business | June 2010

    48/98

  • 8/9/2019 Gulf Business | June 2010

    49/98

    Kjsld |esjkdk

    Kjsld h bt

    Lnsgj| h bt

    Lno|d{|st

    Ngnsbnokt

    Nol ksdo h bt

    NO\

    Bj{|s no|ns h bt

    Bnonsjh[~sbnst

    Do|nsojhGnldkdon

    Onqes h bt

    On~s h bt

    On~s {~sbnst

    @c{|n|sdk{jolB

    tojnk hbt

    @s|e qjnldk{

    @qe|ejhg h bt

    Qjnldj|sdk{jolO

    n oj| h bt

    Qhj{|dk[~sbnst

    Q{tkedj|st

    s h bt

    Qet{d |ensjqtjol

    Snejcdhd|j|d o

    [qnkdjhd|dn{

    G/@/E

    =O`=4

    1;3>;:2:1

    K`vnsnl ct gjm`s oj|d`ojh jol do|nsoj|d`ojh do{~sjokn k`gqjodn{/

    \ n h = ) 4 2 : < ; < > < 1 1 1 \ n h = ) 4 2 : < 3 2 ; ; ; ; ;rrr/cn he`~ hn~ s`qnjo / k`g rrr/cn he`~ h{qnk dj h d | t / k`g

  • 8/9/2019 Gulf Business | June 2010

    50/98

  • 8/9/2019 Gulf Business | June 2010

    51/98

    uqnsdnokn J~{|sdjo e`{qd|jhd|t( fsn{eht qsnqjsnl b`~sgn| gno~{( {qjkd`~{ k`gf`s| {nj|{ jol |`q'khj{{ doffidbe|o|ns|jdogno| j{ t`~ ffit |` Onr T`si( Rj{edob|`o `s \ s`o|` vdj Vdnooj N~s`qn{ fj{|n{| |sjo{fns jdsq`s|/

    jso gdhn{ rd|e Gdhn{ & G`sn/

    o C~{don{{ Khj{{/ Vjhdl ~o|dh :> M~on 31:1/ JNL :;411 jqqhdn{ fs`g :6 M~on ':> J~b~{| 31:1/ukh~{dvn `f |jun{ jol fnn{/ \nsg{ & k`old|d`o{ jqqht/f`sgj|d`o & c``idob j| |sjvnh/~jnAj~{|sdjo/k`g L~cjd= 1

  • 8/9/2019 Gulf Business | June 2010

    52/98

    qns kno| d{

    onvns h``inl j| jbjdo/ Rn |edoi rn

    kjo {jvn >1 qns kno| `o |en k`{| `f

    {|`sjbn |es`~be `~s |dns gn|e`l

    rensn rn hn lj|j jkk`sldob |` e`r

    `f|no d| onnl{ |` cn jkkn{{nl( |` q~|

    d| {dgqht( Ldoj nuqhjdonl/

    Reno |en lj|j d{ ~o{|s~k|~snl( |en

    lj|j/ Lnhh{ `fkdjh{ {jt |ent kjo enhq j

    k`gqjot snl~kn d|{ D\ `qnsj|dob k`{|{

    ct ;1 qns kno|/

    [jvdob |dgn jol sn{`~skn{ `o lj|j

    d{ o` h`obns `q|d`ojh f`s k`gqjodn{/

    O`r |ej| |en snkn{{d`o ej{ cnb~o |`

    rjon( gjot jsn jk|dvnht r`sidob |`

    {|snob|eno |ends k`gqn|d|dvn nlbn/

    K~{|`gns{ jsn |nhhdob ~{ |`ljt

    |ej| |entl enhl `ff `o ~qbsjldob |ends

    {t{|ng{ `s |jidob `o onr D\ {nsvdkn{

    cnkj~{n |entl cnno ~okns|jdo jc`~||en nk`o`gt/ C~| o`r k~{|`gns{

    jsn qsnqjsdob f`s bs`r|e/ \ensn

    d{ {dbodkjo| qno| ~q lngjol f`s

    ~qbsjldob jbnl {t{|ng{( csdobdob do

    ~odnl k`gg~odkj|d`o{ k`ovnsbnokn/

    \ensn jsn h`|{ `f `qq`s|~od|dn{

    `~| |ensn do c~{don{{n{ |` dgqs`vn

    k`gg~odkj|d`o jol lnksnj{n

    `qnsj|d`ojh k`{|( Ldoj {jdl/

    Jo D\ `sbjod{j|d`o |ej| d{ {qnoldob

    hn{{ |dgn `o mjod|`sdjh r`si kjo f`k~{

    `o g`sn dgq`s|jo| {nsvdkn{/ Cndob jchn

    |` u t`~s `ro qs`chng{ l`n{o|( |`|en ntn `f |en k~{|`gns( ldffnsno|dj|n

    `on k`gqjot fs`g jo`|ens( c~| d|{

    `qnsj|d`ojh {qnnl l`n{/

    Lnhh d{ jh{` `ffnsdob Lj|j Jskedvdob

    K`o{~h|dob( Kh`~l Dofsj{|s~k|~sn

    [`h~|d`o{ jol Do|nhhdbno|Dofsj{|s~k|~sn jol Gjojbngno|

    qs`l~k|{ |ej| jhh q`|no|djhht

    k`o|sdc~|n |` |en ,311 cdhhd`o `f

    donfkdnokt `~| `f |en ,:/3 |sdhhd`o do

    |`|jh D\ {qnol njke tnjs( j{ qs`gd{nl

    ct kednf nunk~|dvn `fkns Gdkejnh Lnhh

    hj{| @k|`cns/ Lnhh{ vd{d|dob `fkdjh{

    {jdl |en B~hf k`~hl {nn j {dbodkjo|

    q`s|d`o f |ej| {jvdob( j{ |en snbd`o{

    t`~ob c~{don{{ k`gg~od|t |dbe|no{

    ~q |ends `qnsj|d`o{ |` nlbn `~| |en

    k`gqn|d|d`o/ bcAg`|dvj|n/jn

    D\ on|r`si `f jo `sbjod{j|d`o cnk`gn{

    hdin j |jobhnl rnc( f~hh `f |dgn' jolnonsbt'k`o{~gdob ln|`~s{ jol lnjl

    nol{ |` bn||dob dof`sgj|d`o/

    Do D\ {qnol( |r` |edsl{ b`n{ |`

    qjtdob f`s hjc`~s/ \ej| gnjo{ 51 qns

    kno| d{ m~{| |en s`~|don gjdo|nojokn

    J onr lj|j gjojbngno| {t{|ng c~dh| `o nud{|dob ejslrjsn gjt cn m~{| rej| |en l`k|`s

    `slnsnl f`s k`gqjodn{ e~obst |` gjin {jvdob{( Lnhh |nhh{ ]JSDOJ IEJO/

    \EN CSDNFDOB DOF@SGJ\D@O \NKEO@H@BT

    \ensn d{ j k~h|~sn `f |njs jol snqhjkn doD\ sdbe| o`r/ Rn m~{| l`o| |edoi |ej|{vdjchn/ ^{n rej| t`~ ejvn/ Doksnj{n j|

    t`~s `ro qjkn/

    `f {t{|ng{ innqdob |en hdbe|{ `o j{rn {jt/ \ensn jsn j h`| f D\ mjod|`s{

    `~| |ensn( udob jol khnjodob |en

    on|r`si{( snqjdsdob j lnqh`tgno|

    |ej|{ b`on rs`ob( en jllnl/

    Lnhh d{ `ffnsdob B~hf `sbjod{j|d`o{

    d|{ onr `cmnk| {|`sjbn {`h~|d`o( redke

    jllsn{{n{ |en j||jkegno| `f gn|jlj|j

    |` j hn( redke |eno {|`sn{ |en `cmnk|

    do jo no`sg`~{( ffij| jllsn{{ {qjkn

    ksnj|dob j {`s| `f |jb'cj{nl lj|j hdob

    {t{|ng( redke |jin{ do|` jkk`~o| |en

    dgq`s|jokn `f jkkn{{ |` j qdnkn `f

    Jo|e`ot Ldoj( Lnhh{ ldsnk|`s `f {`h~|d`o{gjsin|dob/

  • 8/9/2019 Gulf Business | June 2010

    53/98

    F`s j k`gf`s|jchn jol {jfn lsdvn/

    Onr

  • 8/9/2019 Gulf Business | June 2010

    54/98 qs`qns|dn{ jol 43(136 s``g{ j| |en

    {jgn |dgn hj{| tnjs %snl~k|d`o{ f 31 jol

    :4 qns kno| sn{qnk|dvnht$ jol 34> e`|nh{

    rd|e 53(;>2 s``g{ do 3115 redke rj{

    d|{nhf jo jhh'|dgn snk`sl tnjs/

    ^[ kejdo Gjssd`|| E`|nh{ & Sn{`s|{

    {z~nn}nl `~| Jkk`s |` |`q |en sjoidob{

    f`s c`|e e`|nh{ jol s``g{( ~q fs`g

    |edsl jol f`~s|e qhjkn{ sn{qnk|dvnht

    hj{| tnjs( rd|e 34 qs`qns|dn{ jol 4(>23s``g{ ~olns lnvnh`qgno|/ Jkk`s{

    qdqnhdon k`gqsd{n{ 3; e`|nh{ rd|e 6((>11 s``g{/

    \en snkn{{d`o ej{ |jino {`gn `f |en {edon `ff |en B~hf{ bhd|}t e`|nh{(

    tn| hj~oken{( nuqjo{d`o{ jol ldvns{dkj|d`o k`o|do~n( jhcnd| j| j

    {`gnrej| g`sn e~gchn qjkn( B^T RDHINO[@O snq`s|{/

    @f {`gn 51 e`|nh kejdo{ {~svntnl( >>

    k`osgnl f~|~sn BKK qs`mnk|{( rd|e :4

    kejdo{ njke lnkhjsdob g`sn |ejo :(111

    s``g{ ~olns lnvnh`qgno|( k`gqjsnl |`

    3; do 3114 jol 31 do 3115/

    LNFDOD\N LNHJT[

    E`rnvns( j{ j ldsnk| sn{~h| `f |en k~s'

    sno| nk`o`gdk k`old|d`o{( |en o~gcns

    `f e`|nh qs`mnk|{ lnhjtnl ej{ doksnj{nl

    {dbodkjo|ht {dokn hj{| tnjs/ Jhg`{|ejhf %1 do |en Gdllhn Nj{| jol O`s|e Jfsdkj

    `vns |en qj{| tnjs/

    Jo`|ens kejdo |ej| sngjdo{ edbeht

    c~hhd{e jc`~| d|{ snbd`ojh qdqnhdon

    d{ [|jsr``l( redke snkno|ht `qnonl

    d|{ :(111|e qs`qns|t r`shlrdln jol

  • 8/9/2019 Gulf Business | June 2010

    55/98

    \EN C^[DON[[E@[QD\JHD\T

    M~on 31:1b~hfc~{don{{/k`g >

    :(161

    623

    53>

    :(;3(

    >25

    231

    @o e`hl[`~skn= Vdjcdhd|t Gjojbngno| K`o{~h|jo|{ %1>/31:1$

    F~|~sn kejdo e`|nh s``g{ do BKK( lnkhjsnl `o e`hl `s kjoknhhnl( 31:1 v{ 3114

    31:1 3114

    :3(111

    :1(111

    5(111

    6(111

    23

    6(/>14

    >(:6

    ;(35>

    3(412

    3(5>5

    3(>4:

    3(:11

    :(615

    :(24

    :23

    523

    6>

    165

  • 8/9/2019 Gulf Business | June 2010

    56/98

    \EN C^[DON[[E@[QD\JHD\T

    >1b~hfc~{don{{/k`g M~on 31:1

    |dn{ hdn( j{ DEB{ Ij{{nhd{ k`ggno|{=

    J{ j bh`cjh k`gqjot( rn jsn k`o{|jo|'

    ht ~qlj|dob `~s j{{n{{gno| `f rej| rn

    |nsg enjl's``g f`s bs`r|e jol jk'

    k`sldobht df rn {nn `on snbd`o {h`rdob

    l`ro jol jo`|ens snbd`o qdkidob ~q(|eno |ej| doffi~nokn{ e`r rn lnqh`t `~s

    sn{`~skn{ f`s lnvnh`qgno|/

    @o |en |ens ejol( ln{qd|n ejvdob |en

    hjsbn{| qdqnhdon( Gjssd`||{ j{{n{{gno|

    `f |en snbd`o d{ {`gnrej| l`rocnj|/ D

    cnhdnvn |en no|dsn BKK gjsin| ej{ cnno

    jffnk|nl ct |en {h`rl`ro( {jt{ Jc`~ld

    J{jhd( vdkn qsn{dlno| `f do|nsoj|d`ojh

    h`lbdob lnvnh`qgno|/ E`rnvns( rn jsn

    {|dhh {nndob {`gn onr lnvnh`qgno| do

    Cjesjdo( [j~ld Jsjcdj jol Jc~ Lejcd/

    Ct k`o|sj{|( Gjsk Ljslnoon( kednf nu'

    nk~|dvn `fkns `f |en Ngjjs E`{qd|jhd|tBs`~q jol Ngjjs E`|nh{ & Sn{`s|{(

    `qnsj|`s{ `f L~cjd{ vn ~q{kjhn e`'

    |nh{ `f |en \en Jllsn{{ csjol( cnhdnvn{

    |en `qq`{d|n= Rn {nn q`{d|dvn |snol{

    |es`~be`~| jhh BKK k`~o|sdn{/ Do fjk|(

    \en Jllsn{{ E`|nh{ & Sn{`s|{ hj~okenl

    jol c~dh| d|{ q`s|f`hd` l~sdob |en |edki

    `f |en ojokdjh ksd{d{/

    @vnsjhh |en JN sngjdo{ |en nqdkno|sn

    `f e`|nh lnvnh`qgno| do |en BKK( rd|e

    :6; k`osgnl e`|nh qs`mnk|{ k`o|jdodob

    jhg`{| >3(111 s``g{( nz~dvjhno| |` >5

    rdhh lnc~| do d|{ :11|e k`~o|st hj|ns

    |ed{ tnjs/ Jc~ Lejcd'cj{nl S`|joj(

    sjoinl o~gcns |esnn do |en {~svnt(

    khjdg{ |` ejvn cnno `vnsrenhgnl rd|e

    gjojbngno| `qq`s|~od|dn{/ Rn ejvn

    |~sonl l`ro ;> {` fjs |ed{ tnjs jh`on(

    k`gqjsnl rd|e :15 do 3114 jol :1> do3115( {|j|n{ Gjisjg Nh ]ts( |en kejdo{

    ldsnk|`s `f lnvnh`qgno|/

    Nvno h`kjh `qnsj|`s E`{qd|jhd|t Gjo'

    jbngno| E`hldob{ %EGE$( `rons `f |en

    K`sjh csjol d{ `q|dgd{|dk/ 31:1 d{ {n|

    |` cn j hjolgjsi tnjs f`s `~s bs`~q

    rd|e j e`|nh `qnodob qsjk|dkjhht nvnst

    |esnn rnni{ jks`{{ `~s f`~s csjol{/

    Rn ejvn :2 onr `qnodob{ hdonl ~q |ed{

    tnjs( |jidob `~s nud{|dob q`s|f`hd` `f ;;

    |` >1 |e~{ doksnj{dob |en bs`~q{ |`'

    |jh o~gcns `f s``g{ ct g`sn |ejo > e`|nh{ {dbonl( rd|e

    j |jsbn| `f :11 ct 31:3/

    E@\ [Q@\[

    EGE{ dok~s{d`o{ do|` Jfsdkj jsn {tgq'

    |`gj|dk `f j onr bn`bsjqedkjh f`k~{ ct

    |en snbd`o{ qnsj|`s{( re` jsn doksnj{'

    dobht h``idob cnt`ol |en |sjld|d`ojh

    jol o`r edbeht k`gqn|d|dvn BKK gjs'

    in|{( |` hn{{ lnvnh`qnl gjsin|{ {~ke j{

    |e`{n `f O`s|e Jfsdkj jol [tsdj/

    Ldffnsno| kejdo{( e`rnvns( ejvn

    rdlnht ldffnsdob qns{qnk|dvn{ `o |en

    h`kjh gjsin|{/ \en cdb do|nsoj|d`ojh

    kejdo{ {dgqht b` rensn |en `qq`s|~od'

    [~ggjst `f |`|jh{

    @o {kenl~hn(:1.

    Lnhjtnl : tnjs(5:(34.

    Lnhjtnl 3 tnjs{(;4(:23

    3 Jkk`s 3; 6>14

    < DEB :6 >:6 Gdhhnood~g :< :

    6 Fjdsg`o| Sjfffin{ 5 15

    2 Sn}dl`s :>

    5 G`vnoqdki :3 >

    :1 B`hlno \~hdq :; ;35>

    :: Edh|`o 4 3412:3 Rtolejg 4 35>5

    :; M~gndsje 4 3>4:

    :< Bh`sdj 3 3:11

    :> Ingqdo{id > :615

    :6 Cjvjsdj < : :322

    :4 F`~s [nj{`o{ < :1>2

    31 Sjgnn 6 4:

    3< Cn{| Rn{|nso < 235

    3> @cns`d ; 23

    32 Ejsl S`ki 3 6>1

    35 Sdu`{ 3 6;

    ;1 Kd|t [nj{`o{ 3 >34

    ;: Cjotjo \snn ; >16

    ;3 S`kk` F`s|n 3

  • 8/9/2019 Gulf Business | June 2010

    57/98

    \EN C^[DON[[E@[QD\JHD\T

    M~on 31:1b~hfc~{don{{/k`g >:

    Rn ejvn |~sonl l`ro ;> gjojbngno|`ffns{ {` fjs |ed{ tnjs jh`on( k`gqjsnl

    rd|e :15 do 3114 jol :1> do 3115/

    qns kno| f |en |`|jh qhjoonl BKK e`|nh{

    jol 63 qns kno| `f |en s``g{/ \en gj'

    m`sd|t `f |en{n qs`qns|dn{ jsn k`gdob ~q

    do L~cjd( jh|e`~be Sj{ Jh Iejdgje jol

    n{qnkdjhht Jc~ Lejcd jsn jh{` bjdodob

    do qs`gdonokn/ E`rnvns( gjot k`o{dl'

    ns L~cjd |` cn o`r ljobns`~{ht `vns'

    {~qqhdnl( rd|e |en r`s{n {|dhh |` k`gn(

    redhn Jc~ Lejcd jol L`ej c`|e o`r

    jg`ob |en k~ssno| e`| gjsin|{ do |en

    B~hf k`~hl jh{` {``o snjke {j|~sj|d`o

    q`do|( n{qnkdjhht j| |en {|js{ jol snk`bod{n |en

    q`|no|djh f`s gdl'{kjhn e`|nh{ jol

    |ej|{ rensn E`hdljt Doo d{ dlnjhht q`'

    {d|d`onl sdbe| o`r( j{ rnhh j{ E`hdljt

    Doo Nuqsn{{/ \en BKK do bnonsjh ej{

    gjln j gjm`s {edf| fs`g >'{|js qjh'

    jkn{( j{ dovn{|`s{ jsn cnk`gdob g`sn

    {jvvt jol sn|~so'f`k~{nl/

    Do j c`hl g`vn( Jkk`s ej{ jh{` lnkdl'

    nl |` do|s`l~kn fsjoked{dob f`s |en s{|

    |dgn do |en snbd`o( j f`sg~hj qsnvd`~{ht

    `oht ~olns|jino {~kkn{{f~hht ct B`hlno\~hdq jol Rtolejg{ Sjgjlj csjol/

    Jkk`sldob |` Hjoljd{( |en Fsnoke `q'

    nsj|`s rdhh fsjoked{n d|{ Gnsk~sn csjol

    `o e`|nh{ `f :11 s``g{ `s hn{{( dokh~l'

    dob k`ovns{d`o{ `f nud{|dob `qnsj|d`o{(

    redke qsnvd`~{ht ejl cnno o`o'vdjchn

    f`s |en cdb kejdo/

    Dolnnl( g`{| `qnsj|`s{ qnskndvn

    gdl'gjsin| jol nk`o`gt csjol{ |`

    snqsn{no| |en onu| bsnj| `qq`s|~od|t

    f`s e`|nh lnvnh`qgno| do |en BKK/ [|js'

    r``l( redke ejl {`gn tnjs{ jb` cnno

    jk|dvn {`hnht do |en h~u~st {nbgno|( d{|ed{ tnjs q~{edob d|{ {`'kjhhnl {nhnk|

    {nsvdkn csjol{ Jh`f|( Nhngno| jol

    F`~s Q`do|{ ct [ensj|`o/ H`~vsn E`'

    |nh{( `ronl ct [|jsr``l E`|nh{ & Sn'

    {`s|{ `ff{e``| [|jsr``l Kjqd|jh( rdhh

    {``o cn s`hhdob `~| d|{ nk`o`gt csjol{

    Kjgqjodhn jol Qsngdnsn Khj{{n vdj jo

    jhhdjokn rd|e Fhjgdob` E`|nh Gjojbn'

    gno|( |en Gdllhn Nj{| snqsn{no|j|dvn{

    `f B`hlno \~hdq( redke rj{ snkno|ht

    q~skej{nl ct H`~vsn/ Nvno Gjssd`||

    d{ gjidob d|{ gdl{kjhn Sn{dlnokn Doo

    csjol jvjdhjchn f`s |en s{| |dgn do |ensnbd`o( jol jhsnjlt snq`s|{ {|s`ob do'

    |nsn{| fs`g dovn{|`s{/

    Do L~cjd( |en s{| `f j onr gdl{kjhn

    311

    :51

    :61

    :

  • 8/9/2019 Gulf Business | June 2010

    58/98

    \EN C^[DON[[E@[QD\JHD\T

    >3b~hfc~{don{{/k`g M~on 31:1

    csjol kjhhnl Kd|tgju( qjs| `f |en {~k'

    kn{{f~h Hjolgjsi B~hf Bs`~q sn|jdh

    ngqdsn( d{ `qnodob dggdono|ht cn{dln

    |en Gjhh `f |en Ngdsj|n{ rd|e |r` g`sn

    qs`qns|dn{ k`gdob ~q {``o do C~s L~'

    cjd jol [ejsmje/ \en |dgdob k`~hlo|

    K`osgnl f~|~sn kejdo e`|nh{ do |en BKK( 31:1

    Gjssd

    ||Jk

    ks

    S|jo

    jDEB

    Gdhhno

    od~g

    Fjdsg

    o|

    Gvno

    qdki

    Sn}dl

    s

    [|jsr

    l

    Bhln

    o\~hdq Edh

    |o

    Rtolejg

    M~gndsje

    Ksjh

    Ingq

    do{id

    Cjvjs

    dj

    Kd|tg

    ju\jm

    F~s

    [nj{

    o{Sj

    gnn

    ZOE

    Hjtdj

    [~|e

    nso[~o

    [rd{{

    Cnhe

    |nh

    Cn{|Rn

    {|nso

    @cns

    d

    Cjotj

    o\snn

    Jojo|js

    j

    S{nr

    l

    @|ens{

    [`~skn= Vdjcdhd|t Gjojbngno| K`o{~h|jo|{ %1>/31:1$

    ;1

    3>

    31

    :>

    :1

    >

    1

    34

    3;

    :2:6

    :> :< :< :;:3

    4 4 45

    6> >

    < < < < 3

    :3

    ;1

    F~|~sn kejdo e`|nh qs`mnk|{ do BKK( lnkhjsnl `o e`hl `s kjoknhhnl( 31:1 v{ 3114

    31:1 3114

    [`~skn= Vdjcdhd|t Gjojbngno| K`o{~h|jo|{ %1>/31:1$ @o E`hl

    cn cn||ns( {|j|n{ |en k`gqjot{ bnonsjh

    gjojbns( Gdkejnh Rnthjol( re` khjdg{

    |ej| ed{ c~lbn| ej{ jh|nsnl hd||hn {dokn

    en s{| lsjf|nl d| |esnn tnjs{ jb`( `o

    |en cj{d{ f jo jvnsjbn s``g sj|n rnhh

    cnh`r ,:11/ D|{ j fjk| |ej| gdlgjs'

    in| jol nk`o`gt e`|nh{ ejvn qs`vno

    |eng{nhvn{ sn{dhdno| do |dgn{ `f nk`'

    o`gdk |~sg`dh/

    J o~gcns `f |en kejdo{ {~svntnl sn'

    q`s|nl sngjdodob `o |jsbn| rd|e

    |ends snbd`ojh `s bh`cjh nuqjo{d`o

    Kjoknhhnl

  • 8/9/2019 Gulf Business | June 2010

    59/98M~on 31:1b~hfc~{don{{/k`g >;

    \EN C^[DON[[E@[QD\JHD\T

    GJOJBNGNO\ K@O\SJK\ \SNOL[

    G`{| csjolnl e`|nh{ do |en

    snbd`o jsn qnsj|nl ~olns j

    gjojbngno| k`o|sjk|/ Nffnk|dvnht(

    |en `qnsj|`s s~o{ |en e`|nh f`s |en

    `rons( dok~ssdob k`{|{ jol bnonsj|dob

    snvno~n{ jol qs`|{ `o ed{ cnejhf( do

    sn|~so f`s gjojbngno| fnn{ |tqdkjhht

    nz~dvjhno| |` jc`~| 2 |` 5 qns kno| `f|`|jh snvno~n{/

    B~hf C~{don{{ j{inl qnsj|`s{

    ren|ens |en snkn{{d`o ejl jffnk|nl

    |ends cjsbjdodob q`{d|d`o reno

    onb`|dj|dob k`o|sjk|{/ \en hjsbns

    kejdo{ jlgd||nl |` lnv`|dob j h`| g`sn

    |dgn |` |ends e`|nh `rons{( o`| hnj{| do

    enhqdob |eng bn| |s`~chnl qs`mnk|{ `ff

    |en bs`~ol( c~| o`| |` h`rnsdob |ends

    fnn{ `s kejsbn{( j{ Jkk`s{ Hjoljd{

    k`ggno|{= \en csjol{ j{ rnhh j{ jhh

    |en {~qq`s| {t{|ng{ `f Jkk`s ejvn j

    vjh~n( j snjh k`{|( j{ |ent snqsn{no|jo ~q{|snjg dovn{|gno| f`s |en

    e`{qd|jhd|t bs`~q jol j{ {~ke g~{|

    cn sng~onsj|nl j| |ends sdbe| vjh~n/

    Cjotjo \snn{ Qdob jh{` {qnji{ f`s

    gjot reno en {jt{= Rn ejvn jhrjt{

    {`~be| |` jhdbo `~s do|nsn{|{ rd|e

    `~s `rons{ f`s |en h`ob |nsg( jol

    cnkj~{n `f |ed{( j {qnkdfdk {e`s|'|nsg

    nvno| {~ke j{ j snkn{{d`o( j oj|~sjh

    ld{j{|ns `s enjh|e nqdlngdk( l`n{ o`|

    jffnk| `~s gjojbngno| |nsg{/

    Onvns|enhn{{( g`{| qnsj|`s{(

    dokh~ldob |en gjm`s do|nsoj|d`ojh

    kejdo{( jlgd||nl |` cnk`gdob g`sn

    ffinudchn rd|e snbjsl |` qnsf`sgjokn

    qs`vd{d`o{ jol bn`bsjqedkjh qs`|nk|d`o

    jsnj{/ \en qs`vd{d`o{ sjobn fs`g

    jkknq|dob {hdldob {kjhn{ f dokno|dvn

    fnn{ %lnqnoljo| `o qs`| hnvnh{$ |`jkknq|dob jo `rons{ qsd`sd|t sn|~so(

    gnjodob |ent bn| qjdl |ends dokno|dvn

    fnn{ `oht jf|ns `rons k`ggd|gno|{

    {~ke j{ h`jo snqjtgno|{ jsn s{|

    e`o`~snl/ Bn`bsjqedkjh qs`|nk|d`o

    jsnj{ jsn lnonl j{ snbd`o{ do redke

    |en `qnsj|`s d{ qsnvno|nl fs`g `qnodob

    j e`|nh `f |en {jgn csjol/ G`{|

    `qnsj|`s{ qsnfns |` jkknq| |eng `oht

    f`s j hdgd|nl qnsd`l( redke d{ io`ro j{

    j c~so'`ff qs`vd{d`o/

    @o |en ffidq {dln( |en hjsbns `qnsj|`s{

    hdin DEB fnh| |ej| |ends {nsvdkn{ jolvjh~n jllnl ejl k`gn do|` {ejsqns

    f`k~{ l~sdob |en snkn{{d`o/ Jkk`sldob

    |` Ij{{nhd{( DEB jh{` fnnh{ jchn |`

    lngjol |nsgdoj|d`o qs`vd{d`o{

    fjv`~sdob |eng do |en nvno| `f jo

    `rons o`| qnsf`sgdob `s k`gqhtdob

    rd|e d|{ csjol {|joljsl{ %j{ kjo

    ejqqno reno k`{|{ jsn cndob k~|$(

    jol jh{` reno d| cnk`gn{ khnjs |ej| j

    qjs|dk~hjs lnvnh`qgno| d{ o`| b`dob |`

    cn k`gqhn|nl/

    qhjo{( snbjslhn{{ `f |en nk`o`gdk

    k`old|d`o{/ F`s {`gn `qnsj|`s{( |en

    `oht rjt |` cnj| |en snkn{{d`o d{

    |` |jin `o nvns g`sn gjojbngno|

    k`o|sjk|{/ \jin [dobjq`sn{ Cjotjo

    \snn kejdo( f`s nujgqhn= J{ qjs| `f

    `~s ldvns{dkj|d`o {|sj|nbt( rn jsn

    jhsnjlt gjojbdob qs`qns|dn{ jks`{{

    |en bh`cn do |en Gdllhn Nj{|( J{dj

    Qjkdk jol |en Jgnsdkj{ jol rd|e

    kh`{n |`

  • 8/9/2019 Gulf Business | June 2010

    60/98>1 gdhhd`o \N^{ ct 31;1/ E`rnvns( qhjo{

    |` c~dhl j |edsl k`o|jdons |nsgdojh |`

    sjd{n kjqjkd|t do |en gnld~g |nsg fs`g:: gdhhd`o |` :> gdhhd`o k`o|jdons{ jsn

    cndob snvdnrnl/

    Jc~ Lejcd{ onr Gdoj Iejhdfj Q`s| d{

    Gdllhn Nj{|nso q`s|{ nuqnsdnoknl jojvnsjbn ls`q do v`h~gn{ `f cn|rnno

    >':1 qns kno| do 3114/

    Nvno l~sdob |en r`s{n `f hj{| tnjs{

    l`ro|~so nuqjo{d`o qs`mnk|{ {|dhh rno|

    jenjl o {kenl~hn/ \en{n dokh~lnl Cje'

    sjdo{ onr ,;63/> gdhhd`o Iejhdfj Cdo[jhgjo Q`s| `fkdjhht `qnonl do hj|n

    O`vngcns 3114/

    Jf|ns |en `qnodob `f d|{ |edsl k`o'

    |jdons |nsgdojh( Mnllje D{hjgdk Q`s| d{

    jhsnjlt qhjoodob j f`~s|e rd|e j fnj{d'

    cdhd|t {|~lt jhsnjlt {~cgd||nl ct Q[J

    [dobjq`sn/ \en nuqjolnl q`s| r`~hl

    |eno cn jchn |` ejolhn ~q |` :: gdhhd`o

    k`o|jdons{ ct 3131 k`gqjsnl |` 2 gdh'

    hd`o |rno|t'f``| nz~dvjhno| ~od| %\N^{$

    j| qsn{no|/

    \en idobl`g rdhh jh{` ejvn gj'

    cndob lnvnh`qnl `vns vn {|jbn{/ \en

    |jsbn| d{ f`s |en onr fjkdhd|t |` ejolhn

    ~q |` :> gdhhd`o \N^{ jol ;> gdhhd`o

    |`oon{ `f bnonsjh kjsb` ct 31;1/ Jojlmjkno| >: {z~jsn idh`gn|sn{ dol~{'

    |sdjh }`on d{ jh{` cndob ksnj|nl `o j

    {d|n ;> idh`gn|sn{ o`s|e nj{| `f Jc~

    Lejcd Kd|t/

    Zj|js d{ q~{edob jenjl rd|e qhjo{ f`s

    j onr L`ej q`s| o j 31'{z~jsn'idh`gn'

    |sn {d|n rd|e f`~s k`o|jdons |nsgdojh{

    jchn |` ejolhn 3 gdhhd`o \N^{/

    I~rjd|{ C~cdtjo D{hjol k`o|jdons

    |nsgdojh d{ jh{` g`vdob f`srjsl/ \en

    q`s|{ dod|djh : gdhhd`o \N^{ joo~jh kj'

    qjkd|t d{ qhjoonl |` doksnj{n |` 3/> gdh'

  • 8/9/2019 Gulf Business | June 2010

    61/98

    \JIJF^H K@O\SDC^\D@O[ J[ . @F \@\JH QSNGD^G[ RSD\\NO

    \EN C^[DON[[H@BD[\DK[

    M~on 31:1b~hfc~{don{{/k`g >>

    hd`o \N^{ ct 31:6 reno j |`|jh `f f`~s

    k`o|jdons |nsgdojh{ rdhh ejvn cnno k`g'

    qhn|nl/ \en q`s| k`~hl qhjt j {dbodkjo|

    s`hn do Dsjz{ snk`o{|s~k|d`o/@gjo |`` d{ {n| |` k`o|do~n `o j qj|e

    `f q`s|{ lnvnh`qgno|/ Gdod{|ns `f Oj'

    |d`ojh Nk`o`gt Jegnl cdo Jcl~hojcd

    Gjkid snkno|ht k`osgnl |ej| |en [~h'

    |joj|n{ onr q`s| j| L~zg( 211'idh`gn'

    |sn{ {`~|e `f G~{kj|( r`~hl dokh~ln j

    ks~ln nuq`s| |nsgdojh jol lst l`ki jol

    rdhh cn snjlt ct 31:3/ Hj|ns {|jbn{ rdhh

    {nn j fsnn }`on k`gqhnu jol jo jdsq`s|

    lnvnh`qnl onjsct/

    @gjo{ {`~|enso q`s| j| [jhjhje

    c~kinl |en snbd`ojh |snol do 3114

    rd|e |es`~beq~| ~q :< qns