Gulf Business | June 2010
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Transcript of Gulf Business | June 2010
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8/9/2019 Gulf Business | June 2010
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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
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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
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\en onr CGR U>
rrr/cgr'gn/k`g
[ennsLsdvdob Qhnj{~
JHH S@JL[ JOL
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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\=
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\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{{
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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|
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: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{
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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{/
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: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(
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8/9/2019 Gulf Business | June 2010
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8/9/2019 Gulf Business | June 2010
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\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
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8/9/2019 Gulf Business | June 2010
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\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{/
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: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{ ,
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Jlvns|d{gno| Fnj|~sn
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Jlvns|d{gno| Fnj|~sn
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Jlvns|d{gno| Fnj|~sn
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Jlvns|d{gno| Fnj|~sn
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\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{/
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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/
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\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
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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: <
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8/9/2019 Gulf Business | June 2010
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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 ,
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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
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35b~hfc~{don{{/k`g M~on 31:1
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;3b~hfc~{don{{/k`g M~on 31:1
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\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
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;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|/
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\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
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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
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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
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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
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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/
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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
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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
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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
:
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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{{
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|nh
Cn{|Rn
{|nso
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d
Cjotj
o\snn
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j
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l
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;1
3>
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1
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4 4 45
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< < < < 3
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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
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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~|$(
jol jh{` reno d| cnk`gn{ khnjs |ej| j
qjs|dk~hjs lnvnh`qgno| d{ o`| b`dob |`
cn k`gqhn|nl/
qhjo{( snbjslhn{{ `f |en nk`o`gdk
k`old|d`o{/ F`s {`gn `qnsj|`s{( |en
`oht rjt |` cnj| |en snkn{{d`o d{
|` |jin `o nvns g`sn gjojbngno|
k`o|sjk|{/ \jin [dobjq`sn{ Cjotjo
\snn kejdo( f`s nujgqhn= J{ qjs| `f
`~s ldvns{dkj|d`o {|sj|nbt( rn jsn
jhsnjlt gjojbdob qs`qns|dn{ jks`{{
|en bh`cn do |en Gdllhn Nj{|( J{dj
Qjkdk jol |en Jgnsdkj{ jol rd|e
kh`{n |`
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8/9/2019 Gulf Business | June 2010
60/98>1 gdhhd`o \N^{ ct 31;1/ E`rnvns( qhjo{
|` c~dhl j |edsl k`o|jdons |nsgdojh |`
sjd{n kjqjkd|t do |en gnld~g |nsg fs`g:: gdhhd`o |` :> gdhhd`o k`o|jdons{ jsn
cndob snvdnrnl/
Jc~ Lejcd{ onr Gdoj Iejhdfj Q`s| d{
Gdllhn Nj{|nso q`s|{ nuqnsdnoknl jojvnsjbn ls`q do v`h~gn{ `f cn|rnno
>':1 qns kno| do 3114/
Nvno l~sdob |en r`s{n `f hj{| tnjs{
l`ro|~so nuqjo{d`o qs`mnk|{ {|dhh rno|
jenjl o {kenl~hn/ \en{n dokh~lnl Cje'
sjdo{ onr ,;63/> gdhhd`o Iejhdfj Cdo[jhgjo Q`s| `fkdjhht `qnonl do hj|n
O`vngcns 3114/
Jf|ns |en `qnodob `f d|{ |edsl k`o'
|jdons |nsgdojh( Mnllje D{hjgdk Q`s| d{
jhsnjlt qhjoodob j f`~s|e rd|e j fnj{d'
cdhd|t {|~lt jhsnjlt {~cgd||nl ct Q[J
[dobjq`sn/ \en nuqjolnl q`s| r`~hl
|eno cn jchn |` ejolhn ~q |` :: gdhhd`o
k`o|jdons{ ct 3131 k`gqjsnl |` 2 gdh'
hd`o |rno|t'f``| nz~dvjhno| ~od| %\N^{$
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'
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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