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8/9/2019 Gulf Business | May 2010
1/84
Wok) =0 A||p` = Emq 68=
sss)cpkgfp|ai`||)loe
Fmdvmai))))))))))))))FN =)8
Bpsma~))))))))))))))) BN =)8
Oemi)))))))))))))))) VO =)8
]m~mv)))))))))))))))))) ]V =8
\mpna Mvmfam)))))))\V =8PM@)))))))))))))))))) ND\ =8
^D@ I@S CPMVN: PIXOKA\D@N OEMI ^MB@\ OI CKA^ZQ PM@ ^OPVA\E
^OX FMIB\ AI D@ CLLDACD DOX@\Eoicokam ~d` i`s fkp`ldax| emvb`~
LOI\OKM^AOI XVAZ@
La~q|lmx` olp|`| oi n`kaw`vq
CME@ LDMIC@VKminemvb| Wax`i \`~da
Ag QOP FPAKN A^)))
Cpk gimilamk l`i~v`| |~akk |~vpcckaic
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sss)vokk|%voql`eo~ovlmv|)loe
Loxqvacd~ Vokk|%Voql` Eo~ov Lmv| Kaea~`n 68=8) d` Vokk|%Voql` ime` min koco mv` v`ca|~`v`n ~vmn`emvb|)
Mfp Ndmfa Eo~ov|+ Mfp Ndmfa+ PM@
^`k: 8813= 6 733 444> sss)vokk|%voql`eo~ovlmv|%n`mk v)loe/mfpndmfa
MCEL+Npfma+ PM@
^`k: 8813= > >3 3033 sss)vokk|%voql`eo~ovlmv|%n`mk v)loe/nodm
@pvo Eo~ov|+ Emimem+ Baicnoe og Fmdvmai
^`k: 8813< =3 308 308 sss)vokk|%voql`eo~ovlmv|%n`mk v)loe/fmdvmai
Mk J`imafa Ai~k Mp~oeofak`| KKL+ Ep|lm~+ Oemi
^`k: 88174 6 >07 3=84 sss)vokk|%voql oemi)loe
Mka Mkcdmiae ' \oi| Mp~oeo~aw` Lo) SKK+ Bpsma~
^`k: 88170 66> 7888 sss)vokk|%voql`eo~ovlmv|%n`mk v)loe/bpsma~
Eodme`n Qop|pg Imcda Eo~ov|+ J`nnmd+ Baicnoe og \mpna Mvmfam^`k: 88177 6 771 0
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M~`v ~so loi|`lp~aw` xoov |dos| ai ~d` Cpk Fp|ai`||miipmk ^ox 08 Fmib| v`xov~+ a~ |``e| ~d`v` a| imkkq|oe` coon i`s|) ^d` ckofmk%v`l`||aoi%|xmvb`n imilamkv``mkk dm| imkkq |~oxx`n min |kacd~ v`low`va`|mv` tx`l~`n ov ~d` v`caoi| fmib| ai 68=8)
Pimllp|~oe`n ldmic`^d` i`s k`l~voial v`ca|~vm~aoi
|q|~`e o Npfma Lp|~oe| q`~ ~o
xvow` mi aexvow`e`i~)
4Gataic ~d` lvmlb|A|kmeal imil` ep|~ mnnv`||
|~vpl~pvmk s`mbi`||`| ~o xp|d xm|~
`loioeal nalpk~a`|)
06M xkml` oi ~d` |~mc`Cpk imilamk l`i~v`| ~acd~`i ~d`av
Emq 68=8 pfp|ai||)loe 3
^D@ N@^MAK\
~d` LOEE`I~
=6
Aiw`|~e`i~^d` p~pv` |dai` o ~d` Fva~a|d
|~`vkaic n`x`in| oi sdo emb`| a~ ~o
Nosiaic \~v``~)
=>Ai|an` ^vmlbXvpiaic ~d meakq fp|ai`|| ~v` a| m
nalpk~ fp~ i`l`||mvq ~m|b |oe`~ae`|)
=7Eoi`qSd`i m fp|ai`|| lqlk` cvain| ~o m
dmk~+ ~d` oikq smq a| ovsmvn)
=4Emvb`~| =8=Aiw`|~aic ai px min loeaic Eoicokam
o`v| m ov~pi` ai ~d` imk voi~a`v)
68Cp`|~ loee`i~Eannk` @m|~ v`mk |~m~` emvb`~
ox`iaic px okkosaic xo|a~aw` k`cmk
min lo|~ |da~|)
66K`~~`v|
~d` FvA`gAIc
6>V`caoimk Fva`gic
8/9/2019 Gulf Business | May 2010
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4pfp|ai||)loe Emq 68=8
^D@ N@^MAK\
~d` kAg`\~Qk`
38^vmw`kM vm~ o tx`va`il`| px Vpmb Vaw`v ai
^dmakmin)
3=Mv~Lmavo |dai`| m| ~d` ~vp` j`s`k o
A|kmeal mvlda~`l~pv`)
36Eo~ovaicKmpvm Lokkmlo~~ ~va`| coaic cv``i sa~d
~d` dqfvan K`tp| K\ 788dK)
3Foob|
37Lmk`inmv
34Do~`k|Sd`v` ~o |~mq ai ~d` CLL)
48\~m~| ' Gml~|S` pixmlb ~d` nm~m ov qop)
46Op~ ~o KpildVmm`ka Vpcc`va na|lp||`| ~d`
v`|~mpvmi~ fp|ai`|| m~ da| osi
Fal` Emv`)
38
36 3loxa`|
Jpi` 6881
D`mn Oggal`:XO Fot 6 646 >> 4>0
Mfp Ndmfa: XO Fot >+@%emak: eo~awm~`%mndHeo~awm~`)m`
Koinoi: Mlv` Dop|`+ ==/=0 Sakkame Vomn+Koinoi IS=
8/9/2019 Gulf Business | May 2010
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=8 cpkgfp|ai`||)loe Emq 68=8
^D@ LOEE@I^ K@MN@V\
Miqoi` sdo dm| f``i ai ~d` Cpk ov koic`v
~dmi m `s eoi~d| bios| ~da| |lvax~ mkk
~oo s`kk: m |s``xaic ldmic` a| miiopil`n
fq m cow`vie`i~+ op~ o ~d` fkp`+ sa~d io
loi|pk~m~aoi min+ |``eaickq+ io ~daibaic o
~d` loi|`}p`il`|) F` a~ m fmi oi lmv| okn`v
~dmi =8 q`mv|+ m fmi oi loobaic sa~d mklodok
ai do~`k|+ |~vaic`i~ lpvf| oi |eobaic+ ov+
`|x`lamkkq loeeoi+ m |s``xaic ldmic` ai wa|m
v`cpkm~aoi| mae`n m~ lko|aic kooxdok`| min
wa|m vpi| mlvo|| fovn`v|+ ~d`q loe` mvopin
`w`vq `s eoi~d|) ^d`v` okkos| m x`vaon oloip|aoi2 fp|ai`||`| min v`|an`i~| m`l~`n fq
~d` ldmic` emb` m `s dmk%d`mv~`n loexkmai~|2
min n``in`v| eow` ai ~o fmlb ~d` ldmic`|
oi lpk~pvmk+ loioeal ov |`lpva~q cvopin|
$o~`i jp|~a`n!) Fp~+ jp|~ m| aexk`e`i~m~aoi a|
aeeai`i~+ ~d` kms| mv` |pnn`ikq v`w`v|`n+ ov
`w`i na|ea||`n m| m |aexk` ea|pin`v|~minaic)
Km|~ eoi~d sm| Nodm| ~pvi+ m| ]m~mv
n`lan`n ~o |lvmx ~d` a||pmil` o ~opva|~
wa|m| m~ ~d` mavxov~) Gov m |~m~` ox`vm~aic ai
m dacdkq loex`~a~aw` emvb`~+ sa~d `w`vq la~q
maeaic ~o f` m dpf ov ~da| min ~dm~+ a~ |``e`n
xmv~alpkmvkq |dov~%|acd~`n) Mvcpe`i~| ~dm~sovb`v| min `w`i fp|ai`|| x`oxk` dmw` ~d`av
osi wa|m v`cpkm~aoi|+ sdald v`emai pildmic`n+
aciov` ~d` ml~ ~dm~ emiq x`oxk` xo~`i~amkkq
koobaic m~ ]m~mv m| m xkml` ~o no fp|ai`||+
ov Cpk Loox`vm~aoi Lopilak CLL v`|an`i~|
p|`n ~o ~vmw`kkaic f`~s``i |~m~`| ov sovb+
p|`n ~d` wa|m%oi%mvvawmk |q|~`e m| m em~~`v o
loiw`ia`il`) Vacd~kq ov svoickq+ a~| ~d` smq
m ko~ o loexmia`| ox`vm~`+ min `inaic ~dm~
loiw`ia`il` sopkn |pv`kq e`mi Nodm ko|aic
op~ ~o vawmk la~a`| oi ~d` fp|ai`|| min ~opva|e
voi~|) Caw`i ~d` `loioeal lkaem~`+ ~d` km|~%
eaip~` fmlb~vmlb sm| ai`wa~mfk`)
N``in`v| o ldmic`| ai v`cpkm~aoi mv` o~`ivacd~: koo|` wa|m vpk`| mv` m |`lpva~q iacd~emv`2
lpvf| oi |eobaic |dopkn f` s`kloe`n fq eo|~
min `w`i ~d` fmi oi loobaic sa~d mklodok lmi
f` m|akq jp|~a`n oi v`kacaop| cvopin|) Fp~ ~d`
dmxdmzmvn smq ~d`|` ~daic| mv` miiopil`n
xkmq dmwol sa~d fp|ai`|| xkmiiaic+ min lmi
|lmv` o aiw`|~ov| p|`n ~o eov` xv`nal~mfk`
k`cmk lkaem~`|) Okn dmin| ai ~d` Cpk ~`in ~o
f` na|ea||aw` o loi~vow`v|amk cow`vie`i~
miiopil`e`i~|2 ~d`q lmi xoai~ ~o m noz`i ov
eov` xvoxo|`n ldmic`| ~dm~ i`w`v emn` a~
oi~o ~d` foob|) @w`i ~d` eo|~ dmvn`i`n lqial+
~dopcd+ sopkn no s`kk ~o dmw` loi~aic`ilqxkmi| ai ~d` `w`i~ ~d`av kaw`kadoon a| ~mb`i msmq
oi m sdae)i
Ow`viacd~ ldmic`| ai vpk`| mv` ogg%xp~~aic gov aiw`|~ov| sd`~d`v ~d`q dmxx`i ov io~)
Fmn gov fp|ai`||R XokalqU
Oemi i``n| ~o ~v`mn lmv`gpkkq ag a~ smi~| ~o f` m |`vaop| nvms gov ~opva|~|)
Ep|lm~| fac mefa~aoi|R ^opva|e U
Fmlb ai 6883+ Npfma sm| |~akk ox`iaic m w`%
|~mv do~`k w`vq eoi~d+ Npfmakmin sm| |~akk
~op~`n m| ~d` ~opva|e xvoj`l~ ~o `in mkk ~opva|e
xvoj`l~| min ~d` `eavm~` dmn cami~| |pld m|
Gkovanm ai a~| |acd~| m| a~ eow`n ~o ~vmi|ove
a~|`k ai~o m ckofmk ~opva|e n`|~aim~aoi) C`ov`q
B`i~+ ~d` ldmavemi o ~d` Sovkn vmw`k min
^opva|e Lopilak+ dai~`n d` sm|i~ dmwaic miq o
a~) M|b`n oi ~d` |an`kai`| o ~dm~ q`mv| Eannk`
@m|~ |`||aoi o ~d` Sovkn @loioeal Govpe ov
da| ~dv`` ~ox ~ax| ov Eannk` @m|~ ~opva|e+ d`
v`xka`n: Oemi+ Oemi min Oemi) Npfma+ d`
|man+ sm| m fpvi`n%op~ fvmin)
\pf|`}p`i~ q`mv| dmw`i~ `tml~kq wainalm~`n
dae) Sdak` Npfma dm| |p`v`n ~dvopcd m xvox`v~q
fpffk` min+ mvcpmfkq+ m do~`k fpffk`+ a~| mv voe
fpvi`n op~) Ai ml~+ n`|xa~` ~d` f`|~ ai~`i~aoi| o
`kkos `eavm~`| min lopi~va`|+ ov |`vaop|+ em||%
emvb`~ ~opva|e+ a~| |~akk fq mv ~d` facc`|~ xkmq`v
ai ~d` v`caoi) Min Oemi? N`|xa~` a~| xo~`i~amk+ ai
8/9/2019 Gulf Business | May 2010
11/84
Emq 68=8 cpkgfp|ai`||)loe ==
~d` ~dv`` q`mv| |ail` B`i~| xv`nal~aoi+ a~ dm|i~
emn` }pa~` ~d` aivomn| a~ lopkn dmw`)
Npfma fvopcd~ ai 1)< eakkaoi wa|a~ov| km|~
q`mv ~dopcd ~d` p|pmk oxmla~q ai cpv`|
emb`| a~ dmvn ~o na|~aicpa|d dos emiq wa|a~ov|
mv` ~opva|~| ai ~d` ~vp` |`i|` o ~d` sovn ov
fp|ai`|| wa|a~ov| |~mqaic ov m iacd~ ov ~so) Ai
loi~vm|~+ Oemi fvopcd~ ai jp|~ ~so eakkaoi mi
== x`v l`i~ ailv`m|` ow`v ~d` xv`waop| q`mv+ fp~ m
koic+ koic smq |dov~ o ~d` 68 eakkaoi a~ dox`| ~o
fvaic ai fq ~d` `in o ~da| n`lmn`) Npfma a~|`k+
sa~d eov` 0%|~mv do~`k| ~dmi miqsd`v` `k|` ai
v`caoi+ dm| |`~ a~|`k ~d` eov` v`mka|~al ~mvc`~ o
=0 eakkaoi wa|a~ov| fq 68=0)
Gov ~dm~ 68 eakkaoi cpv` ~o f` v`mld`n+
Ep|lm~ sakk i``n ~o vokk op~ m |`vaop|kq
aexv`||aw xvocvmee` o xvoj`l~| ~o |s`kk~d` ipef`v o do~`k vooe| mwmakmfk`+ min sakk
i``n ~o pxcvmn` ~opva|e mlaka~a`| ~o sovkn
|~minmvn|) ^dm~ ai a~|`k emq f` |`k%n``m~aic
ov m lopi~vq ~dm~ |`kk| a~|`k oi pi|xoak~
im~pvmk f`mp~q) A+ m| ~d` ~opva|e xpina~| |mq+
Oemi| emai |~v`ic~d a| ai nvmsaic wa|a~ov|
s`mvq ov smvq o Npfma| loilv`~` jpick`+
a~ sakk f` kpef`vaic a~|`k sa~d m n`lmn` o
loi|~vpl~aoi |a~`| min |pf%xmv aivm|~vpl~pv`
oi` o ~d` emai lva~ala|e| o Npfma npvaic a~|
osi fv`mbi`lb cvos~d x`vaon mkk ~o f` jp|~
mio~d`v ow`v%fpak~ Cpk n`|~aim~aoi)
Mk|o oi Ep|lm~| vmnmv |dopkn f` Mfp Ndmfa)
^d` `eavm~` a| n`kaf`vm~`kq ~mvc`~aic `tml~kq
~d` |me` mgp`i~+ s`kk%d``k`n+ fac |x`inaic
~vmw`kk`v| ~dm~ Oemi smi~|) A~ dm| kmpild`n
mi aexv`||aw` mvvmq o xvoj`l~|+ voe ~d` dpc`
\mmnaqm~ A|kmin lpk~pvmk aia~am~aw`| ~o ~d` eov`
meakq%~d`e`n m~~vml~aoi| oi Qm| A|kmin+ |pld
m| ~d` vml`~vmlb min G`vvmva Sovkn) Mcmai|~
~da|+ Oemi lmi~+ min |dopkni~+ ~vq ~o loex`~`)
A miq~daic+ Oemi |dopkn |lmk` fmlb |oe` o
a~| mefa~aoi+ min sovb op~ dos ~o emtaea|`
v`w`ip`| ~dvopcd `txkoa~aic a~| `ta|~aic
v`|opvl`| min m~~vml~aoi|) Min+ ai noaic |o+ ~d`v`mv` oxxov~pia~a`| ov Oemi ~o ~mb` mnwmi~mc`
o a~| i`acdfopv| mefa~aop| xkmi|) d` v`l`i~
olp| fq Npfma min Mfp Ndmfa oi fvaicaic
ai eov` lvpa|` ~vml sakk v`mx f`i`~| ov
`w`vqoi` oi ~d` lom|~+ |x`lamkkq Oemi) M~`v mkk+
eon`vi Cpk la~a`| lmi c`~ m ka~~k` v`x`~a~aw`+ min
~d` ldmve| o Ep|lm~ sakk pinopf~`nkq xvow` m
fac nvms ~o wa|a~ov| ~o ~d` Mvmfami Cpk) i
\~akk sma~aic gov m lk`mv xal~pv` oi ~d` d`mk~d og Cpkg fmib|)
Gacd~aic ~d` gmkkop~R Fmibaic U
^D@ LOEE@I^ K@MN@V\
A km|~ q`mv| wa`s o ~d` ox 08 Fmib| ai ~d`
Cpk Loox`vm~aoi Lopilak lme` npvaic m ~ae` o
~pvfpk`il`+ ~da| q`mv| m~ k`m|~ xoai~| ~o v`low`vq)
Opv p|pmk loee`i~| ~oo emiq fmib|+ ~ooka~~k` v`cpkm~aoi+ m kmlb o i``n`n loi|okanm~aoi
~o nvaw` wmkp`+ min m kmlb o ~vmi|xmv`ilq ai
~d` fmkmil` |d``~| |~akk mxxkq fp~ ~d`|` mv`
~`ex`v`n fq i`s loil`vi|)
@txo|pv` ~o ~d` \mmn/Mk Cdo|mafa fmibaic
|lminmk dm| f``i eo|~kq mf|ovf`n+ sa~d Msmk
Fmib min ~d` Ai~`vim~aoimk Fmibaic Lovxovm~aoi
na|mxx`mvaic voe opv ka|~ m| m v`|pk~) Fp~+ sa~d
Npfma Sovkn| v`|~vpl~pvaic |~akk eav`n ai ~mkb|+
~d`v` emq f` m `s eov` im|~q |pvxva|`| md`mn)
^d` san`v xvox`v~q n`xv`||aoi a| |~akk ~o f`
xvox`vkq mnnv`||`n+ fo~d ai ~`ve| o fmn komi
xvowa|aoi|+ v`wmkpaic xvox`v~q min kmin m||`~|
oi ~d` foob| min loeaic px sa~d m loovnaim~`n
|~vm~`cq ~o n`mk sa~d ~d` ai`wa~mfk` v`xo||`||aoi|
min n`mpk~|)Gov ~d` q`mv md`mn+ m| n`l`i~ xvo~mfaka~q
v`~pvi| ~o ~d` |`l~ov+ fmib| ep|~ mk|o mll`x~
~dm~ ~d`q dmw` san`v v`|xoi|afaka~a`| ~dmi
jp|~ ~o ~d`av nav`l~ov| min |dmv`dokn`v|) A~|
px ~o ~d`e ~o ml~ ai lod`|aoi+ min sa~d ~d`
nav`l~aoi min |pxxov~ o l`i~vmk fmib|+ ~o
v`~daib va|b xvok`| min ~o v`|~ov` kai`| o
lv`na~ ~o ~do|` fp|ai`||`| min |`l~ov| ~dm~
i``n a~ eo|~) ^d` dmklqoi nmq| emq f` f`dain
p|+ fp~ ~d` v`caoi i``n| m d`mk~dq+ |pxxov~aw`
fmibaic |`l~ov a ~d` Cpk| loioea`| mv` ~o
cvos min xvo|x`v) i
8/9/2019 Gulf Business | May 2010
12/84=6 cpfp|i`||)loe Emq 68=8
^D@ LOEE@I^AIW@\^E@I^
Gokkosaic Covnoi Fvosi| miiopil`e`i~ ~o lmkk
~d i`t~ Fva~a|d c`i`vmk `k`l~aoi oi Emq 7+ |~`vkaic
fo~~oe`n mcmai|~ ~d nokkmv m~ =)>4 m| `mv| mfop~ m
dpic xmvkame`i~ ai S`|~eai|~`v s`v v`xkml`n fq
xokk| ~dm~ |pcc`|~`n m san`iaic k`mn ov Nmwan Lme`voi
min ~d Loi|`vwm~aw Xmv~q mcmai|~ ~d ailpef`i~ oi
Nosiaic \~v``~) Covnoi Fvosi| fom|~ ~dm~ I`s Kmfopv
mfoka|d`n fooe fp|~ lqlk`| npvaic da| ~`ipv m| oiq Fkmav|
Ldmil`kkov $=113%6883! sm| lvp`kkq v`p~`n fq ~d imilamk
lva|a| ai 6884 min DE v`m|pvq| e`vc`ilq fmakop~ o VF\
min Kkoqn| DFO\)
^d ov`aci `tldmic emvb`~ dm| emn io |`lv`~
mfop~ a~| xv``v`il ov ~d saii`v oi Emq 7) M n`la|aw`
^ovq sai sakk f ~d facc`|~ foo|~ ov |~`vkaic m|
Lme`voi| xokala`| |pcc`|~ voi~ komn`n |lmk ~acd~`iaic)
M dpic xmvkame`i~ ai S`|~eai|~`v sakk
~vacc`v m Xmwkowami |~`vkaic mkk fp~ io
eov ~dmi m sov|~ lm| |l`imvao o =)>0
mcmai|~ ~d nokkmv+ sa~d ~d |~mfka|de`i~o m |lmk dmsba|d lomka~aoi cow`vie`i~
~d goov) Ai miq lm| + Ldalmco AEE
xo|a~aoiaic nm~m+ ~`ldialmk ldmv~ xm~~`vi|
min v`mk eoi`q ~vmnaic f`dmwaopv
|pcc`|~| lmfk $|~`vkaic%nokkmv! a| cvo||kq
ow`v|okn m~ =)08)
^da| a| mkk ~d eov ~vp |ail ~d PB
`loioeq |``e| ~o dmw e`vc`n voe
a~| sov|~ v`l`||aoi |ail ~d km~`v =138|
sai~`v o na|loi~`i~ ~dm~ fopcd~ nosi ~d cow`vie`i~ o
Jme`| Lmkkmcdmi min k`n ~o ~d `k`l~aoi o Ev|) Emvcmv`~
^dm~ld`v) da| a| ~d v`m|oi |~`vkaic dm| f`loe do|~mc ~o
~d ~ov~pop| xvol`||`| o Fva~a|d xoka~al| m| Fvosi| fmibaicfmakop~| min xpfkal |x`inaic kmvc`|| dm| ailovxovm~`n m va|b
xv`eape oi cak~| imil`n fq o|dov lv`na~ov|)
A~ a| avoial ~dm~ ~d @P%AEG imilamk ka`kai ~o Cv``l +
cvpncaickq mcv``n ~o fq Ldmil`kkov E`vb`k min ~d lokn
eoi`~mva|~ |opk o ~d Fpin`|fmib+ lopkn ml~pmkkq emb ~d`
PB wpki`vmfk ~o m xo|~%`k`l~aoi |x`lpkm~aw m~~mlb) \kpcca|d
`loioeal cvos~d min m =6 x`v l`i~ fpnc`~ n`la~ ~o CNX
vm~ao+ m |lmk eon`k fvob`i np ~o ~d so`| o ~d La~q o
Koinoi| imil v`w`ip`| min |dmvxkq kos`v dop|aic/lmxa~mk
cmai ~mt`| e`mi| ~d Fva~a|d emkma| lopkn v`xkml ~d Cv``b
~vmc`nq m| ~d i`t~ of|`||aoi n jopv o ~d lpvv`ilq emvb`~|)
^d`v a| piea|~mbmfk wan`il o m PB loioeal v`low`vq)
^d Dmkamt dop| ain`t+ xvonpl`v xval`|+ m eon`|~ fp~ |~akk
~micafk 8)> x`v l`i~ cvos~d ai Fva~a|d CNX min `w`i m va|`
ai loi|pe`v |`i~ae`i~ dmw mkk foo|~`n |`i~ae`i~ oi ~d`
op~koob ov ~d Fva~a|d loioeq min |~`vkaic) da| a| ~d`
v`m|oi a~ a| pisa| ~o |dov~ ~d Fva~a|d xopin mcmai|~ ~d`
nokkmv f`kos =)0>) A~ a| mk|o pisa| ~o ovc`~ ~dm~ |~`vkaic|
~vmn s`acd~`n n`wmkpm~aoi |ail 6883 a| cv`m~`v ~dmi ~d`
\`x~`ef`v =116 @VE lva|a| pin`v Jodi Emjov+ ~d =174
n`wmkpm~aoi pin`v Dmvokn Sak|oi ov w`i Fva~mai| n`la|aoi
~o mfminoi ~d cokn |~minmvn ai =1
8/9/2019 Gulf Business | May 2010
13/84
8/9/2019 Gulf Business | May 2010
14/84=> cpgfpi`)loe Emq 68=8
^D@ LOEE@I^AI\AN@ VMLB
Oi` o ~d` dmvn`|~ ~oxal| ~o ~mkb mfop~ ai miq
meakq fp|ai`|| a| ~d` a||p` o vaic meakq
e`ef`v|) ^da| a| m w`vq ~opldq |pfj`l~ f`lmp|`
~o eo|~ ai ~da| v`caoi+ ~o |mlb m meakq e`ef`v ai
qopv meakq fp|ai`|| a| mfop~ m| mxx`mkaic m| mfminoiaic
qopv v`km~aw` ai m jpick` pkk o sakn miaemk|)
Sdak` sa~d meaka`|+ xvolv`m~aoi min xvo~`l~aoi mv` ~d`
ovn`v o ~daic|+ ~d` |me` a| io~ ~d` lm|` ai fp|ai`||`|)
M loiw`i~aoimk fp|ai`|| a| mfop~ fo~~oe kai`|) Min m|
~d` dqfvan o ~d` ~so meakq min fp|ai`|| meakq
fp|ai`||`| dmw` m w`vq i` kai` ~o smkb ai koobaic m~`v
~d` ai~`v`|~ o ~d` meakq min ~d` fp|ai`||) Oi` eop~d a|
`m|q ~o ``n lmwamv) so a| m fa~ n`mv`v min 08 f`loe`|
nosivacd~ tx`i|aw`) Dos`w v+ ~vq ~o loiwail` ~d` x`v|oi
sdo a| p|`n ~o `m~aic lmwamv ~dm~ |mvnai`| mv` `iopcd ~o
kk da| dpic`v) Ov `w`i sov|`+ ~vq ~o
loiwail` ~d` >4 o~d`v eop~d| ~dm~
|mvnai`| |dopkn f` |pla`i~ `iopcd
ov ~d`e sd`i ~d`q s`v` ~mpcd~ ~of`ka`w` ~dm~ lmwamv a| ~d` smq ~o co)
M| meaka`| cvos ai ipef`v|+ mkk
e`ef`v| f`ka`w` a~ a| ~d`av vacd~+
io~ xvawak`c`+ ~o f` xmv~ o m meakq
fp|ai`||) d`q |`` ~dm~ cokn`i lmc`
~dm~ xvowan`| ~d`e sa~d |`lpva~q min
xvo~`l~aoi `w`i ~dopcd a~ kaea~| ~d`av
mfaka~a`| min |~vmick`| ~d`av lv`m~awa~q)
^d`q mv` pisakkaic ~o fv`mb v`` voe
~da| |~qka|`n xal~pv` ai ~d`av eain f`lmp|` a~ no`| jp|~
~dm~ xvo~`l~| ~d`e) Sdm~ a| dmvn ov ~d`e ~o |`` a| ~dm~
~d`q mv` ai m lmc`) Min io em~~`v sdm~ em~`vamk a~| lvm~`n
voe+ a~ a| |~akk m lmc` cokn ov io~) \oe`~ae`| ~dm~ lmc`nmeakq fp|ai`|| e`ef`v sopkn f` f`~~`v |`vw`n op~|an` o
~d` loii`| o ~d` loi|~val~aic fp|ai`||) Min |oe`~ae`|+
~d` fp|ai`|| a| f`~~`v |`vw`n a ~d` meakq e`ef`v sm| io~
pin`v a~| `exkoq)
Gov ~d` lmc` b``x`v+ v`mn ~d` meakq xm~vamvld+ d` lmi
|`` io svoic ai `i|pvaic ~dm~ mkk ~d` e`ef`v| o da|
meakq mv` |m`kq ~plb`n ai|an` ~da| lmc`) Ai ml~+ d` |``|
a~ m| da| np~q ~o `i|pv` ~dm~ mkk da| fvoon mv` xvo~`l~`n)
D` `w`i co`| ~d` `t~vm |~`x o fom|~aic mfop~ ~da| ~o
|ola`~q m~ kmvc` min `tx`l~| bpno| voe ~d`e ov noaic
|o) \ola`~q |d``xa|dkq ion| a~| d`mn min ~d` |~m~p|
}po a| xv`|`vw`n) Q`~ a~ a| ~da| w`vq ml~ ~dm~ |~ag`| ~d`
|ola`~q f`lmp|` a~ ovl`| ~d` lv`m~aw` eain| ~o f`loe`
npkk min sa~d`v msmq) ]p`|~aoiaic ~da| ai miq smq a|
x`vl`aw`n m| f`aic picvm~`pk min io~ m| mi txv`||aoi o
na||m~a|ml~aoi sa~d f`aic aexva|oi`n)
M `s n`lmn`| mco mi ai~`kkac`i~ emi lmkk`n Em|kos
xp~ nosi m kms ~mkbaic mfop~ dpemi f`dmwaopv) A~ sm|
n`xal~`n ai m ~vamick`) d` fo~~oe ~so ~a`v| o ~d` ~vamick`
mv` oon min xvo~`l~aoi % opv fm|al dpemi i``n|) M~ ~d`
~ox o ~dm~ ~vamick` sm| m ~d`ovq lmkk`n |`k ml~pmka|m~aoi)
^da| |`k ml~pmka|m~aoi e`mi|+ ai m ip~|d`kk+ ~dm~ ~d`
x`v|oi bios| sdo d` a| min sdm~ d` smi~| ~o no sa~d da|
ka`) Ai o~d`v sovn|+ sdak` d` kow`| da| meakq min dm| mkk
da| fm|al i``n| o oon+ xvo~`l~aoi+ kow` min |pld pkkk`n+
d` koic| ~o |~mfka|d dae|`k m| mi ainawanpmk sdo dm|
e`miaic) ^da| lmiio~ dmxx`i ai m lmc`) ^da| v`}pav`| mav
~o fv`m~d` min |xml` ~o |omv) ^da| a|
sdq d` lmp|`| na|vpx~aoi ai ~d` `q`|
o ~d` lmc` b``x`v)
^da| kmlb o pin`v|~minaic o fm|aldpemi i``n| a| m emjov loil`vi ~dm~
opv |ola`~q ep|~ mlbiosk`nc` min
meaka`|+ xmv~alpkmvkq ~do|` sdo mv` ai
fp|ai`|| ~oc`~d`v+ ep|~ loe` ~o cvax|
sa~d) M| dpemi|+ s` |~vaw` ov ~d`
mfaka~q ~o pin`v|~min sdm~ s` mv` min
sd`v` s` loe` voe) A ~dm~ nvaw` a|
oxxv`||`n+ ~d`i ~d` an`m o m~~maiaic
|`k%sov~d sakk i`w`v dmxx`i min
~dp| s` mkk fmlb oi ~o ~d` an`m o oon min xvo~`l~aoi
m| opv emai nvaw`v|) Eov`ow`v+ a~ f`loe`| `m|q ~o mll`x~
~d` xva|oi o m |~m~p| }po min ~d` x`vemi`i~ vok` ai ~d`
meakq fp|ai`||+ m| a~ |`vw`| fo~d i``n|)Ai ~da| |a~pm~aoi+ ~d` meakq+ sdald |dopkn f` mi
ainawanpmk| xvo~`l~aoi+ f`loe`| da| xva|oi) A |`~ v``
voe ~da| xva|oi+ sdo bios| sdm~ d` eacd~
mlloexka|d? B`x~ ai ~d` xva|oi+ d` sakk a~d`v na|vpx~ ov
lovvpx~ o~d`v|)
^o xvpi` m ~v`` a| ~o mkkos a~ ~o cvos |~voic`v) Q`| ~d`
xvpi`n fvmild`| eacd~ na` fp~ ~d`q eacd~ f` ~d` epkld
~dm~ mkkos| o~d`v |~voic ~v``| ~o cvos voe a~)
A|i~ ~dm~ mxxvoxvam~`+ loi|an`vaic mkk meaka`| dmw` m
meakq ~v``?
Ea|dmk Bmioo a| n`xp~q ldmavemi og ~d` Bmioo Cvopx)
cfHeo~awm~`)m`
^D@ N@KALM^@ MV OG
XVPIAIC D@ GMEAKQ V@@\mlbaic gmeakq e`ef`v| emq |``e kab` ~d` dmvn`|~ ~daic ~o no+ fp~ a~ lopkn f`~d` w`vq ~daic mi pin`vx`vgove`v i``n| ~o v`mld ~d`av xo~`i~amk)Ea|Dmk BmIOO
m ge` cvos
i ipef`v+ e`ef`v f``w`~ ~d`v vcd~+io~ xvw`c`+ ~o
f` xv~ og geqfpi`)
8/9/2019 Gulf Business | May 2010
15/84
8/9/2019 Gulf Business | May 2010
16/84
^D@ LOEE@I^EOI@Q
=7 cpkgfp|ai`||)loe Emq 68=8
^vqaic ~o sovb op~ sd`v` s` mv` ai ~d` fp|ai`||
lqlk` a| |`knoe m| `m|q m| a~ km~`v koob| sa~d ~d`
f`i`~ o dain|acd~)
\o a~ xmq| ~o dmw` m ka~~k` d`kx voe mi `tx`v~ kab`
Nv Emvl Gmf`v) Da| foob ^oeovvos| Cokn dm| m fvakkami~
n`xal~aoi o ~d` |~mc`| o ~d` `e`vcaic emvb`~ fp|ai`||
lqlk`+ min a~ a| `m|q `iopcd ~o loilkpn` ~dm~ m~ ~d` eoe`i~
Npfma a| |~plb ai ~d` xdm|` |at ov lvm|d |~mc`)
F`qoin ~dm~ xmaipk x`vaon ka`| xdm|`| z`vo min oi`+ min
ml~pmkkq ~d`v` mv` |aci| o ~d` `eavm~` ios xalbaic a~|`k
px o ~d` goov sa~d a~| n`f~ v`|~vpl~pvaic xkmi| fp~ o~d`v
|qex~oe| mv` |~akk io~ ~dm~ `ilopvmcaic)
Emiq o ~d` |qex~oe| o xdm|` z`vo m| ldmvml~`va|`n
fq Nv Gmf`v mv` mxxmv`i~: ~opva|e a| aexvowaic m~`v m
fac |kpex ai vooe vm~`| min ollpxmilq km|~ q`mv2 ~d`
|~olb emvb`~ dm| f``i eowaic |an`smq| ov |oe`~ae` min
a| w`vq pin`vwmkp`n2 w`vq `s ov`aci pin emimc`v| wa|a~
~d` la~q2 xv`|| d`mnkai`| mv` |~akk w`vq
i`cm~aw 2 lv`na~ a| |~akk ~acd~ f`lmp|`
o ~d` xvofk`e| o ~d` xv`waop| fooe2aiw`|~e`i~ ai~`v`|~ a| kos m~`v fac
xvo~ mkk| ai 68812 min ~d`v` sm| m fac
op~gos o lmxa~mk km|~ q`mv)
^da| a| mkk |~vmacd~ op~ o Nv Gmf v|
xdm|` z`vo) A~ lopkn f` sov|`) d`v`
a| io pi`exkoqe`i~ f`lmp|` x`vdmx|
>88+888 loi|~vpl~aoi min v`mk `|~m~`
sovb`v| dmw` coi` doe`) Min emqf`
ov ~dm~ v`m|oi ~d` la~q a| |~akk |m`)
Nosi~osi do~`k| mv` |~vpcckaic fp~ lom|~mk do~`k| mv` pkk)
Gov ~da| ~o eow` oi ~o xdm|` oi`+ ov ~d` |~mv~ o m v`mk
v`low`vq+ ~d`i m lm~mkq|~ a| v`}pav`n) ^da| lopkn f` m
|dmvx va|` ai ~d` xval` o mi aexov~mi~ loeeona~q+ ~d`mxxkalm~aoi o mi aexov~mi~ i`s aiiowm~aoi+ m |pnn`i
va|` ai `txov~|+ ov ldmic`| ai ~mt min aiw`|~e`i~ kms|
|mq| Nv Gmf`v)
D` mnn| ~dm~ o~d`v lm~mkq|~| lopkn f` ~d` pin`v~mbaic
o kmvc`%|lmk` aivm|~vpl~pv` xvoj`l~| ~dm~ aexvow` xos`v
|pxxka`|+ vomn ~vmi|xov~m~aoi min xov~ mlaka~a`| ov ~d`
xvawm~a|m~aoi o `i~av` ainp|~va`|)
Ai ~d` loi~`t~ o Npfma ~d` lm~mkq|~ ov m v`low`vq a|
lpvv`i~kq ea||aic) dm~ a| io~ ~o |mq ~dm~ a~ sakk io~ loe`+
x`vdmx| ai km~` 68=8 ov 68== ov km~`v) Ain``n+ a~ a| io~ dmvn
~o |`` sdm~ eacd~ dmxx`i)
Oak xval`| lopkn fooe mcmai ai m x`vaon o ckofmk
aigm~aoi m| m v`|pk~ o ~d` eoi`q xvai~aic ~o loefm~ ~d`
v`l`i~ imilamk lva|a|) Dacd dqnvolmvfoi xval`| sopkn
vmxankq d`m~ px fp|ai`|| ai Npfma m| ~d` v`caoimk ~vmnaic
min koca|~al| dpf)
^d`i mcmai ~d` PM@ a| xv`|`i~kq v`wa`saic a~| kms| oi
ov`aci aiw`|~e`i~ min ~dm~ sopkn d`kx) \o ~oo sopkn m
eow` ~o piaq ~d` |~olb emvb`~| o ~d` PM@ ai~o m |aick`
~vmnaic xkm~ove)
Xvawm~a|m~aoi ov xmv~amk xvawm~a|m~aoi o ~d` mavkai`+
xov~|+ mavxov~| min xos`v c`i`vm~aoi sopkn m~~vml~ mi
aigos o lmxa~mk) Cow`vie`i~ n`f~ lopkn f` v`xman)
^d`i mcmai aivm|~vpl~pv` aiw`|~e`i~| mv` oicoaic
min lv`m~aic m eov` m~~vml~aw` min la`i~ pvfmi
`iwavoie`i~ ov fp|ai`|| ai Npfma)
^dp| ~d` v`low`vq xvo|x`l~| o Npfma mv` x`vdmx|
vm~d`v ofwaop| min ~d` la~q| p~pv` op~koob mv voe
dox`k`||) Fp~ mkk o ~da| sakk ~mb` ~ae`+ w`i a m| |``e|
~o f` ~d` lm|` ~d` cow`vie`i~ bios|
sdm~ a~ opcd~ ~o f` noaic ~o |ov~
~daic| op~)V`mnaic ~dvopcd mio~d`v foob ^da|
^ae` a| Na`v`i~: @acd~ L`i~pva`|
o Gaimilamk Gokkq fq Lmve`i E)
V`aidmv~ min B`ii`~d \) Voco a|
m v`eain`v ~dm~ ai ~d` aiw`|~e`i~
sovkn emibain a| nooe`n ~o v`x`m~
~d` ea|~mb`| o ~d` xm|~ f`lmp|`
|a~pm~aoi| ~dm~ eacd~ f` na`v`i~ ~da|
~ae` |`knoe ~pvi op~ ~dm~ smq) Npfma|
v`l`i~ fooe%~o%fp|~ a| jp|~ mio~d`v tmexk`)
Ain``n+ sa~d 7> lva|`| ov nm~m ~o nvms pxoi+ ~da|
e`||mc` f`loe`| m ka~~k` s`mvqaic m| ~d` xmc`| vokk oi)
Qop eacd~ ~daib x`oxk` sopkn k`mvi voe ~da| da|~ovalmk`tx`va`il`) Q`~ ~d` loi|~mi~ v`x`~a~aoi o ~da| lqlk`
|pcc`|~| io~) A |o+ ~d`i ~d` mimkq|a| xv`|`i~`n ai ^da|
^ae` a| Na`v`i~ |dopkn f` mfk` ~o xv`nal~ ~d` m~`vem~d
o ~d` xv`|`i~ lva|a|)
^d` mp~dov| no xo|a~ |`w`vmk loilkp|aoi|) Gav|~+ v`mk
`|~m~` xval` lovv`l~aoi| ~`in ~o ~mb` mi mw`vmc` o |at
q`mv|+ sdak` `}pa~a`| fopil` fmlb sa~dai ~dv``) \`loinkq+
mkk emjov imilamk lva|`| mv` okkos`n fq |pf|~mi~amk
min x`v|a|~`i~ ailv`m|`| ai pi`exkoqe`i~) Min ~davnkq+
cow`vie`i~ n`f~ mksmq| |omv|+ eov` f`lmp|` o ko|~ ~mt`|
~dmi ~dvopcd |~aepkp| |x`inaic)i
X`~`v Loox`v a| ~d` `na~ov og mvmfamieoi`q)i`~
Sovbaic op~ sd`v` s` mv` ai m fp|ai`|| lqlk` a| lva~almk ~o embaic~d` eo|~ og miq |a~pm~aoi m~ miq caw`i eoe`i~)X@^@V LOOX@V
^dp| ~d v`low`vqxvo|x`l~| og Npfmamv x`vdmx| vm~d`v
ofwaop| min~d la~q| gp~pv`op~koob gmv gvoe
dox`k`||)
GvOE D@ FO^^OE+@W@vQ^DAIC kOOb| PX
8/9/2019 Gulf Business | May 2010
17/84
8/9/2019 Gulf Business | May 2010
18/84=4 cpgfpi`)loe Emq 68=8
^D@ LOEE@I^Emvb`~| =8=
Eo|~ aiw`|~ov| bios mfop~ Eoicokam ai ~d`
loi~`t~ o C`icda| Bdmi+ min ~d` |~mv~kaic
da|~ovq o dos oi` `t~vmovnaimvq emi voe m
v`eo~` lovi`v o ~d` sovkn lv`m~`n mi `exav`
~dm~ k`n ~d` sovkn ai~o ~d` eon`vi mc`)
^onmq+ Eoicokam a| m dacdkq k w`vmc`n lmkk ox~aoi oi ~d`
eaiaic min Ldaim cvos~d |~ovq min ai 68=8 a~ a| ~d f`|~ lmvvq
~vmn` ai ~d sovkn) Ldaim sa~d ow`v = fakkaoi x`oxk min CNX
cvos~d o "==)1 x`v l`i~ a| n`|x`vm~ ov vms em~`vamk|)
^d` ^mwmi ^okcoa eai` a| loi|an`v`n fq c`okoca|~| ~o f`
~d` sovkn| kmvc`|~ pi~mxx`n lobaic lomk n`xo|a~ min Oqp
okcoa a| ~d` sovkn| kmvc`|~ pi~mxx`n cokn%loxx`v n`xo|a~)
Mllovnaic ~o wmvaop| |~aem~`|+ Eoicokam| loioeq
lopkn cvos "08+888 ~oii`| o loxx`v x`v
q`mv min
8/9/2019 Gulf Business | May 2010
19/84
8/9/2019 Gulf Business | May 2010
20/8468 cpgfpai`)loe Emq 68=8
^D@ LOEE@I^V@MK @\^M^@
^d` Eannk` @m|~ v`mk%`|~m~` emvb`~ dm| pin`vcoi` m
kmvc` lovv`l~aoi v`l`i~kq) V`mk `|~m~` a| o~`i eov`
lqlkalmk ~dmi o~d`v emvb`~|+ f`aic m~ ~d` ov`voi~ o
fpffk`| oi ~d` smq px min lvm|daic eov` |`w`v`kq
oi ~d` smq nosi) Ai eov` em~pv` emvb`~| fmib| xkmq m
kmvc`v vok` ai xvowanaic loi|~vpl~aoi gimil` min ai nosi
~pvi|+ m| `mld xvoj`l~ a| o~`i ainawanpmkkq |~vpl~pv`n voe
fo~d m k`cmk min gimilamk |~minxoai~ $ioi%v`lopv|` komi|!+
~d` n`w`kox`v dmin| ~d` b`q| ~o ~d` fmib min ~d`i smkb|
msmq+ ko|aic sdm~`w`v }pa~q sm| xvowan`n m| s`kk m| |oe`
o ~d`av v`xp~m~aoi)
^d fmib| ~d`v`ov xvowan ~d emvb`~ lk`mvaic ml~awa~q
fq ml~aw`kq ginaic i`s fpq`v| fq |`kkaic ~o v`low`v mcmai|~
~d`av komi+ m~ m na|lopi~ a i``n`n ov doknaic oi pi~ak xval`|
dox`pkkq v`low`v) Ai ~d lm| o K`demi Fvo~d`v|+ sd`v`
M'E a| emimcaic ~d sain%nosi+ ~d`
.68 fakkaoi o v`mk `|~m~ m||`~| dmw`
f``i |xka~ ai~o coon min fmn+ min ai
|oe lm|`| M'E dm| mnwa|`n ~d `|~m~`min of~mai`n mcv``e`i~ voe ~d lopv~
~o aiw`|~ ~o loexk`~ |oe xvoj l~| ~o
emtaea| v`low`va`|) d Eannk @m|~
emvb`~ lpvv`i~kq dm| oikq m `s xkmq`v|
sa~d |aexk gimilamk |~vpl~pv`| $mk~dopcd
o~`i sa~d ime k`inaic! min v`km~aw`kq
pi~`|~`n k`cmk vme`sovb|) Gpv~d`veov +
fo~d loee`vlamk min v`|an`i~amk xvoj l~|
dmw o~`i f``i gimil`n fq epk~axk in%
p|`v| oi na`vaic xmqe`i~ xkmi| vm~d`v ~dmi fmib xvowan`n
loi|~vpl~aoi gimil ) da| emb`| loee`vlamk xvoj l~|
pim~~vml~aw ~o emjov ai~`vim~aoimk na|~v`||`n aiw`|~ov|+ m|
~d`q lmiio~ dmink i`co~am~aoi| sa~d |o emiq xmv~a`|) Ai~`ve| o v`|an`i~amk |xml ~d`v a| ~oo epld xkmii`n dacd%`in
ov kptpvq |xml oi o`v fm|`n oi piv`mka|~al v`i~mk vm~`| min
`in%p|`v| dmw |~oxx`n xmqaic m| x`v ~d`av xmqe`i~ xkmi|)
Gpv~d`veov + cow`vie`i~| dmw f``i nvawaic ~d v`mk |~m~`
emvb`~ ov ~d`av osi xoka~almk min n`w`koxe`i~mk mc`inm|
m| s`kk m| ~vqaic ~o n`vaw ailoe fo~d voe kmin |mk`| min
fq f`aic em|~`v n`w`kox`v|) Sa~d ~d lpvv`i~ lv`na~ xv`||pv`
oi |ow`v`aci min |`ea%|ow`v`aci `i~a~a`| ~da| dm| mnn`n q`~
mio~d`v kmq`v o loexk`ta~q)
Dos`w`v ~d` aexm||` meoic |~mb`dokn`v| |``e| ~o f`
lk`mvaic) Loi|~vpl~aoi lo|~| dmw` nvoxx`n fq 68%>8 x`v l`i~+
~d` k`cmk |a~pm~aoi a| lk`mv`v+ min n`w kox`v| dmw` |~mv~`n ~o
|da~ voe mwoanaic miq loeepialm~aoi ~o f` ml~aw`) d q
mv` c`i`vmkkq xpv|paic gw` |~vm~`ca`| m~`v ~d`q dmw` noi`
~d` n`~mak`n min na|xm||aoim~` mimkq|a| v`}pav`n ~o m||`||
~d` ~vp` wamfaka~q o ~d`av `ta|~aic xvoj`l~| min ~d` lo|~ ~o
loexk`~aoi) Gav|~kq+ ~d`q mv` ~vqaic ~o loi|okanm~` in%p|`v|
ai~o ~d`av osi `ta|~aic wamfk` xvoj`l~| ov lmil`k loi~vml~|
sd`v` xo||afk`) da| a| `|x`lamkkq wan`i~ f`~s``i Npfma
min Mfp Ndmfa) \`loinkq+ ~d`q mv` ldmicaic ~d` n`|aci ov
p|` o m xvoj`l~ ean%smq ~dvopcd loi|~vpl~aoi ~o emb` a~
eov` wamfk`+ sdald s` dmw` |``i |`w`vmk ~ae`| ai Bpsma~ min
\mpna Mvmfam) ^davnkq+ ~d`q dmw |oe`~ae`| fopcd~ i`skq
loexk`~`n fpaknaic| ov xmv~i`v`n sa~d o~d`v n`w`kox`v| ~o
xvowan` pv~d`v ox~aoi|) da| dm| o~`i sovb`n ov in%p|`v|
sdo dmw` mkv`mnq emn` px voi~ xmqe`i~| o f`~s``i 60%>8
x`v l`i~ m| ~d` emvb`~ xval`| x`v |}pmv` oo~ mv` ios 0
x`v l`i~ k`||+ |o ~d`v` a| `l~aw`kq |~akk
vooe ov ~d` n`w`kox`v ~o emb` |oe`
xvog~) Ai ~da| lm|` o lopv|` ~d` in%p|`v
ko|`| sdm~ ~d`q dmw` mkv`mnq xman fp~lmi |~akk of~mai m xvox`v~q ai m v`mka|~al
~ae`vme` m~ xo~`i~amkkq m f`~~`v xval`
~dmi ~d`q lopkn mlda`w` ainawanpmkkq)
Gopv~dkq+ |oe n`w`kox`v| mv cawaic
`in%p|`v| v`pin| ai ~d` ove o lv`na~
io~`| min ~d`i embaic m emvb`~ ai
~d`|`+ em~ldaic in%p|`v| ~dm~ smi~ ~o
lm|d op~ sa~d ~do|` ~dm~ mv` sakkaic ~o
xp~ ai eov` lm|d) d` emvb`~ vm~` ov
~d`|` io~`| n`x`in| pxoi ~d` }pmka~q o ~d` n`w`kox`v min
~d` wamfaka~q o ox~aoi| mwmakmfk`+ fp~ ~d`q mv` ai ~d` v`caoi
o m
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LOIGAN@IL@ ai oi`| |~v`ic~d| k`mn| ~o L@V^MAI^Q ai oi`| ml~aoi)
A~ a| sa~d ~da| biosk`nc` ~dm~ s` dmw` xvow`n m v`kamfk` \SA\\ xmv~i`v ai XVAWM^@ FMIBAIC) \ail` =300)
da| Aigovem~aoi dm| f``i na|~vafp~`n fq Lkmvan`i K`p M||`~ Emimc`e`i~ $Npfma! Kaea~`n) V`km~`n gaimilamk xvonpl~| ov |`vwal`| mv` oikq mwmakmfk` ~o xvog`||aoimk lka`i~| sdald }pmkagq m| lka`i~| pin`v ~d` Npfma Gaimilamk \`vwal`| Mp~dova~q vp
mvan`i K`p M||`~ Emimc`e`i~ $Npfma! Kaea~`n a| npkq kal`i|`n min v`cpkm~`n fq ~d` Npfma Gaimilamk \`vwal`| Mp~dova~q $NG\M!)
\ S A \ \ X V A W M ^ @ F M I B A I C \ A I L @ = 3 0 0
s s s ) l k m v a n ` i k ` p ) l o e
Lkmvan`i K`p M||`~ Emimc`e`i~ $Npfma! K~n)Npfma Ai~`vim~aoimk Gaimilamk L`i~v`K`w`k
8/9/2019 Gulf Business | May 2010
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^D@ LOEE@I^ k`~~`v|Hcpkgfp|ai`||)loe
SMA^AIC GOV SOVN
^d |~ovq Kolb`n ai kaefo $Cpk
Fp|ai`||+ Mxvak 68=8! v`mkkq ~opld`n|oe i`vw`| ov e ) A kaw ai oi o ~d`
xvox`v~a`| e`i~aoi`n ai ~d xa`l min
bios v|~%dmin dos vp|~vm~aic ~d`
lpvv`i~ |~vm~m kms |a~pm~aoi a|) Xvox`v~q
osi`v| min ~d`av ~`imi~| mv ko|~ m~
|`m vacd~ ios) @w`vqoi a| sma~aic ov
|oe lkmva~q) A d`mvn ~dm~ ~d ml~pmk Cpk
Fp|ai`|| mv~alk sm| na|~vafp~`n mvopin
fq eq i`acdfopv| sd`i ~d`q |ms a~)
PX\ MIN NOSI\
A ijoq`n v`mnaic qopv v`xov~ d` loe`fmlb ban $Cpk Fp|ai`||+
Mxvak 68=8!) A~ |``e| ~o e` ~d` m~`+ fvminaic min emvb`~mfaka~q
o ~d` Cpk| wmvaop| dpf| a| loi|~mi~kq ai pt) Min ~da| mv~alk`|dos`n ~dm~) d` xkml` ~dm~ sm| okn m|daoi`n ov npkk m `s
q`mv| mco % Emimem % a| ios oil` mcmai koobaic mxx`mkaic)
Emimem |mq| a~ dm| mksmq| xvoeo~`n ~vmi|xmv`ilq min coon
lovxovm~` cow`vimil` xv`waop| |lminmk| io~sa~d|~minaic)
Min m~ ~d` |me` ~ae`+ ~d` xkml` ~dm~ sm| ~d` ep|~%dmw
kolm~aoi ov gimilamk fp|ai`||`| Npfma a| ko|aic a~| |dai`)
^d` Npfma Ai~`vim~aoimk Gaimilamk L`i~v` sm| |`vaop|kq volb`n
fq m ipef`v o lopv~ lm|`| ~d` Nmem| vmpn min |oe` o a~|
osi `t`lp~aw`| mllp|`n o ea|loinpl~ lm|~aic ai~o nopf~
a~| lv`nafaka~q min |`lpva~q) Fp~ m~ ~d` |me` ~ae`+ m| mi mwanfp|ai`|| v`mn`v+ A io~`n ~dm~ o~d`v e`nam op~k`~| low`v`n ~d`
FIX Xmvafm| @loioeal Op~koob xmi`k pxoi sdald ~d` mv~alk`
sm| fm|`n+ ai na`v`i~ smq|) A~ sm| io~ mkk m| xo|a~aw`) \oe`
|man ~dm~ n`|xa~` Fmdvmai| m~~`ex~ ~o ios emvb`~ a~|`k m| ~d`
f`~~`v min eov` |`lpv` gimilamk l`i~v`+ a~ sakk i`w`v f` mfk` ~o
loex`~` sa~d a~| lm|d%p|d lop|ai| sdo mv` dpicvq ~o fpakn
~d`av biosk`nc` loioea`| min emvb`~|+ |o a~ v`mkkq no`|i~
dmw` epld o m dox`) A io~ Npfma+ ~d`i ]m~mv+ ov o~d`v|) ^d`
eovmk o ~d` |~ovq a| xvog~ a| miqoi`| cme`) Io~daic a| |pv`)
^d` ckofmk min v`caoimk `loioea`| mv` |~akk ai ~d` mav min
pi|`~~k`n) Min ~d` lvosi o d` Cpk| Gaimilamk Dpf a| |~akk
pilkmae`n min ox`i ~o loi~`in`v|)
^oem| W``~+ Nodm
Cpkg Fp|ai`||s`kloe`| qopv loee`i~| mfop~ ~d` emcmzai` ov a||p`| v`cmvnaic fp|ai`|| ai ~d` v`caoi) Xk`m|` sva~` ~o: ^d` @na~ov+ Cpkg Fp|ai`||+Eo~awm~` Xpfka|daic+ XO Fot 6 646301
8/9/2019 Gulf Business | May 2010
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SAIm K`mnaic @nc` Fp|ai`|| Xmlbwmkp`n m~ P\.68+8880 ^daibXmn
@nc` Io~`foob|
=> % E^EIWX
8/9/2019 Gulf Business | May 2010
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G
6> cpkgfp|ai`||)loe Emq 68=8
+ Mvmf~`l min Mmfmv |man ai
~so |`xmvm~` |~m~`e`i~| xo|~`n oi ~d` Npfma min Mfp
Ndmfa fopv|`|)
Io v`m|oi sm| caw`i gov ~d` lmil`kkm~aoi og ~d` n`mk+
sdald sm| gav|~ miiopil`n ai Jmipmvq)
A noi~ ~daib ~d` n`mk vm~aoimk` sm| w`vq loiwailaic gvoe
Mmfmv| x`v|x`l~aw`+ dos`w`v A sopkni~ f` |pvxva|`n ag
~d` emvb`~ v`ml~| gmwopvmfkq ~onmq+ \mpn Em|pn+ d`mn og
v`|`mvld min |`iaov v`mk `|~m~` mimkq|~ m~ PF\ ~okn ~d` Smkk
\~v``~ Jopvimk)
Mvmf~`l |man ai Jmipmvq a~ dmn mcv``n ~o |`kk m 38 x`v l`i~
|~mb` sov~d .=)3> fakkaoi ~o Mmfmv+ ~d` kmvc`|~ |dmv`dokn`v aiNmaek`v MC $NMA)T@!)
Mvmf~`l dm| f``i da~ dmvn fq m |`w`v` nosi~pvi ai
Npfma| xvox`v~q emvb`~ sd`v` xval`| dmw` |kpex`n lko|` ~o
08 x`v l`i~ min emiq xvoj`l~| mv` oi dokn) ^d` loi|~vpl~aoi
gave a| mk|o oi` og Npfma Sovkn| facc`|~ ~vmn` lv`na~ov| min
m~ ~d` `in og km|~ q`mv a~ sm| os`n eov` ~dmi .=)60 fakkaoi
fq ~d` loickoe`vm~` min o~d`v PM@%fm|`n n`w`kox`v|)
Mvmf~`l v`xov~`n a~| gav|~ `w`v }pmv~`vkq ko|| m~ ~d` `in og
6881 mg~`v embaic xvowa|aoi| gov nopf~gpk n`f~|)
^d` fpakn`v a| ailv`m|aickq naw`v|agqaic msmq gvoe
n`x`in`il` oi loi~vml~| ai Npfma min ~d` Pia~`n Mvmf
@eavm~`| sd`v` ~d` fpaknaic ainp|~vq a| pin`v xv`||pv`) A~
v`l`i~kq |`~ px pia~| ai ]m~mv min \mpna Mvmfam)Ai Emvld Mvmf~`l lda`g gaimilamk oggal`v Zamn Embdzopea
s`kloe`n cow`vie`i~ xkmi| ~o xpex .1)0 fakkaoi ai~o
Npfma Sovkn+ |mqaic a~ v`eow`n |oe` og ~d` pil`v~mai~q
|pvvopinaic ~d` fpakn`v| pixman fakk|)
Npfma| eow vma|`n Mvmf~`l| fmvcmaiaic xos`v+ ~d`
emimc`e`i~ v`mka|`n ~da| sm| io koic`v m coon ogg`v+ |man
Voq Ld`vvq+ m v`mk `|~m~` mimkq|~ m~ Npfma%fm|`n aiw`|~e`i~
fmib \dpmm Lmxa~mk) Mk|o Mvmf~`l dm| dmn m |~voic 68=8
|~mv~+ ~d` loexmiq dm| lmx~pv`n ow`v 08 x`v l`i~ og opv
`tx`l~`n gpkk q`mv fmlbkoc mnna~aoi|)
^d` Mvmf~`l min Mmfmv n`mk a| ~d` km~`|~ og m ipef`v og
xkmii`n e`vc`v| ~dm~ dmw` f``i lmkk`n ogg ai ~d` PM@)
\`loin| ~o emb`|`i|` og mkk og kag`|eq|~`va`|
Sd`i nan qop kmpild?
S` kmpild`n opv \E\ |`vwal` ~dm~ xvoea|`| ~o mi|s`v miq
}p`|~aoi qop dmw` oi >7>7 ai ~d` PM@ oi Mxvak +=81~oi|
687+>70~oi|
=0+888~oi|*
8/9/2019 Gulf Business | May 2010
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Emq 68=8cpkgfp|ai`||)loe 60
R ]M^MV U
Cm| |daxe`i~fq Iow`ef`v]m~mvcm| ~vmai |at sakk
dmw` a~| gav|~ KIC lmvco
komn`n fq Iow`ef`v+ sdak`
~d` gav|~ |daxe`i~ og ~vmai
|`w`i lopkn f` xo||afk` fq~d` q`mv `in)
Mde`n Mk Bkpkmaga+
loee`vlamk min |daxxaic
lda`g ox`vm~aic oggal`v
]m~mvcm|+ ~okn i`s|
sav`| ~dm~: S` mv` ai ~d`
xvol`|| og |~mv~aic px
~vmai |at m~ ]m~mvcm| )
Dox`gpkkq ~d` ~vmai |at
sakk f` xvonplaic ~da|q`mv+ emqf` ~d` gav|~ lmvco
a| ai Ol~of`v ov Iow`ef`v+
emqf` ~so%~dv`` eoi~d|
mg~`v s` sakk |`` ~d` gav|~
lmvco gvoe ~vmai |`w`i)
R OEMI U
Mei`|~q govakk`cmk sovb`v|Mi mei`|~q x`vaon dm|
f``i `t~`in`n gov akk`cmk
gov`aci`v| ai Oemi) ^d`Oemia cow`vie`i~ a|
mkkosaic pinolpe`i~`n
sovb`v| ~o mxxkq gov
mei`|~q min f` n`xov~`n
sa~dop~ xmqaic x`imk~a`|
gov ow`v|~mqaic min gai`|
gov sovbaic sa~dop~
xvox`v nolpe`i~|) ^d`
sovb`v| sakk+ dos`w`v+
dmw` ~o xmq gov ~d` lo|~|
og ~d`av oi`%smq ~alb`~ ~o
~d`av lopi~va`| og ovacai)
R BPSMA^ U
P\ v`gp|`|Mcaka~q v`i`smkBpsma~a koca|~al| min
~vmi|xov~ loexmiq Mcaka~q
sakk io~ f` caw`i mio~d`v
loi~vml~ sa~d ~d` P\
cow`vie`i~+ a~ dm| f``i
miiopil`n+ gokkosaic
oicoaic lopv~ xvol``naic|
f`~s``i ~d` ~so |an`|)
Mcaka~q a| pin`v
ainal~e`i~ ai ~d` P\ gov
mkk`c`nkq ow`vldmvcaic ~d`
eaka~mvq oi m goon |pxxkqloi~vml~ ~dm~ vmi gvoe
688< ~o ~da| q`mv)
^d` loexmiq sm|
v`xkml`n m| xvae`
w`inov og goon ~o ~d`
P\ cow`vie`i~ ai Avm}
min Bpsma~ fq mio~d`v
loexmiq oi ~d` loi~vml~)
Pin`v ~d` ainal~e`i~+
Mcaka~q sm| mkv`mnq
fmvv`n gvoe saiiaic i`s
P\ msmvn|)
R \MPNA MVMFAM U
Aigkm~aoi px8)0% ai ]=Aigkm~aoi ai \mpna Mvmfam
vo|` 8)0 x`v l`i~ ai ~d`
gav|~ }pmv~`v loexmv`n ~o
~d` xv`waop| x`vaon+ sdald
a| gmv f`kos ~d` l`i~vmk
fmib| `|~aem~`|+ ~d` |~m~`|
|~m~a|~al| mp~dova~q dm|
v`w`mk`n)
^da| a| f`kos ~d` =)0
x`v l`i~ ~d` \mpna Mvmfami
Eoi`~mvq Mc`ilq gat`n ai
G`fvpmvq m| m emtaepe}pmv~`v%~o%}pmv~`v cvos~d
xvoj`l~aoi gov ~d` lo|~ og
kawaic ain`t)
R FMDVMAI U
I`s xov~ i`~|fac ga|dAi~`vim~aoimk loi~mai`v
|daxxaic kai` cami~ MXK
dm| f``i |aci`n oi ~o
|`vwal` Fmdvmai| i`s
^D@ FVA@GAIC^D@ V@CAOI
i
i
i
i
i
i
n``xsm~`v xov~)
MXK ox`vm~aic gvoe
Fmdvmai a| m coon+ coon
|aci+ |man Dm||mi Mk
Emjan+ ~d` nav`l~ov c`i`vmk
og Fmdvmai| C`i`vmk
Ovcmia|m~aoi og \`m
Xov~|) A~ |dos| s` mv`
loex`~aic sa~d v`cmvn ~o~vmi||daxe`i~)
Bdmkagm Fai \mkemi
Xov~ a| maeaic ~o v`xkalm~`
~d` |pll`|| og emjov
~vmi||daxe`i~ l`i~v`|
|pld m| Npfma| J`f`k Mka+
sdald |`vw`| kmvc` ol`mi%
coaic w`||`k|+ pikomnaic
loi~mai`v| min v`komnaic
~d`e oi ~o |emkk`v lvmg~ ~o
|`vw` v`caoimk xov~|)
R PM@ UEpfmnmkm |dvaib|Eaim Zmq`n^d` |~vm~`cal aiw`|~e`i~
mve og Mfp Ndmfa %
Epfmnmkm N`w`koxe`i~ %
dm| nosi|az`n a~|
Eaim Zmq`n xvoj`l~ ai
m i`s n`|aci)
Jodi ^doem|+ ~d`
`t`lp~aw` nav`l~ov og
Epfmnmkm V`mk @|~m~`
min Do|xa~mka~q+ ~okn kolmke`nam ~dm~ ~d` loexmiq
sm| v`xkmlaic xkmi| gov m
=3+888%|`m~ mv`im min o~d`v
kmvc` |~vpl~pv`| sa~d kos%
va|` fpaknaic|+ v`|~mpvmi~|
min v`|an`i~amk mxmv~e`i~|)
S` f`ka`w` ~dm~ xmv~
og ~d` xvoj`l~ |dopkn f`
eov` ml~aw` min smkbmfk`+
^doem| |man) ^d` xvoj`l~
a| m fa~ eov` dpemi
|lmk` ios)
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G
67 cpkgfp|ai`||)loe Emq 68=8
^D@ FVA@GAIC^D@ V@CAOI
RMWAM AOI U
Mavkai`| ko|~ eov` ~dmi .=)3fi ~o m|d lkopnMavkai`| mvopin ~d` sovkn
ko|~ |oe` .=)3 fakkaoi ai
v`w`ip` ~o lmil`kk`n gkacd~|
lmp|`n fq m woklmial m|d
lkopn mfow` @pvox`+ sdak`
oi` Cpkg mavkai` mkoi` emq
dmw` ko|~ .38 eakkaoi ~o ~d`
s``b%koic lva|a|)
Gov mi ainp|~vq ~dm~
ko|~ .1)> fakkaoi km|~ q`mv
min sm| gov`lm|~ ~o ko|`
m gpv~d`v .6)4 fakkaoi
ai 68=8+ ~da| lva|a| a|
n`wm|~m~aic+ Ai~`vim~aoimk
Mwam~aoi min ^vmi|xov~
Mp~dova~q $AM^M! nav`l~ov
c`i`vmk min lda`g `t`lp~aw`
Caowmiia Fa|acimia |man aim |~m~`e`i~+ mnnaic ~dm~ a~
sakk kab`kq ~mb` ~d` mavkai`
ainp|~vq m~ k`m|~ ~dv`` q`mv|
~o v`low`v gvoe ~d` lva|a|)
Eo|~ og @pvox`| mav|xml`
lko|`n oi Mxvak =0 mg~`v m
dpc` m|d lkopn gvoe mi
Al`kminal woklmio |xv`mn
op~+ |~vminaic eakkaoi| og
xm||`ic`v| min xmvmkq|aic
mav ~vmw`k sovknsan`)
Oi ~d` ~dv`` nmq| gvoe
Mxvak =3 ~o Mxvak =1+ sd`i
~d` mav ~vmggal na|vpx~aoi|
s`v` ~d` facc`|~+ ko|~
v`w`ip`| v`mld`n .>88
eakkaoi x`v nmq+ AM^M |man)
M~ a~| sov|~+ ~d` lva|a|
mgg`l~`n 61 x`v l`i~ og
ckofmk mwam~aoi min =)6eakkaoi xm||`ic`v| m nmq)
^`i og ~dop|min|
og xm||`ic`v| gopin
~d`e|`kw`| |~vmin`n ai
~d` Cpkg| mwam~aoi dpf|)
@eavm~`|+ ~d` PM@| e`cm%
lmvva`v+ dmn |man a~ sm|
ko|aic .=8 eakkaoi m nmq
ai ko|~ gkacd~ v`w`ip`+
min dm| dmn ~o xmq .=
eakkaoi m nmq ~o xp~ px
|~vmin`n xm||`ic`v|)
Im~aoimk gkmc|dax @~admn
Mavkai`| |man a~ ~oo sm|
do|~aic ~dop|min| og
xm||`ic`v|+ ~dopcd a~
n`lkai`n ~o loee`i~ oi
~d` lo|~ og ~d` m|d lkopn|
gkacd~ lmil`kkm~aoi|) ]m~mv
Mavsmq|+ Oemi Mav minCpkg Mav dmw` mk|o dmn
emiq noz`i| og gkacd~
lmil`kkm~aoi|) Fpnc`~
lmvva`v Mav Mvmfam |man
a~ sopkn f` naggalpk~ gov
miq mavkai` ~o }pmi~agq a~|
ko||`| ~onmq)
Miq gaimilamk aexml~
`|~aem~aoi| vacd~ ios mv`
jp|~ m gaic`v ai ~d` mav+
Mn`k Mka+ lda`g `t`lp~aw`
oggal`v og Mav Mvmfam ~okn
kolmk e`nam)
R ^@K@LOE U
.636e ~o gpinnp aigvm|~vpl~pv`^d` PM@| |`loin ~`k`loe|
`i~vmi~ np a| |``baic m
.636)< eakkaoi vacd~| a||p`
~o gpin a~| eofak` min
fvomnfmin aigvm|~vpl~pv`
xkmi|)
^d` ox`vm~ov sakk f`
doknaic mi `t~vmovnaimvq
c`i`vmk e``~aic oi Emq
== gov a~| |dmv`dokn`v| ~o
mxxvow` ~d` vacd~| a||p`)
R V@MK @\^M^@ U
Mfp Ndmfa lp~|eov~cmc` vm~`Eov~cmc` vm~`| dmw` f``i
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`ggov~ ~o |xmvb m xval` smv
meoic eov~cmc`)
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lmi |~aepkm~` v`mk
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mk E`dmava+ ~d` gave|
ldmavemi ~okn kolmk e`nam)
RWA\M U
]m~mv n`kmq|wa|m vpk`^d` san`kq%lva~ala|`n xkmi|
~o |lvmx ]m~mva wa|m%oi%
mvvawmk| gov ~d` im~aoimk|
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R ^@K@LOE U
Ovm|loe/Gvmil`^ k`loe ~vpl`Mi mcv``e`i~ dm| f``i
|aci`n f`~s``i Ovm|loe
^ k`loe min Gvmil`
^`k`loe+ `inaic m koic k`cmk
na|xp~` ow`v ~d` @cqx~ami
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~d`q mv` joai~ |dmv`dokn`v|)
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og loeepialm~aoi| min
A^+ sakk io~ ldmic` ~d`
osi`v|dax ov emimc`e`i~
og @LE\+ ~d` xmv`i~
loexmiq og Eofaiak
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RE@NAM U
Emb~oof emb`|FFL dav`Qmdoo| Eannk` @m|~ pia~
dm| |imcc`n ~d` d`mn og
~d` FFL Mvmfal Do|me
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v`|aci`n gvoe ~d` Fva~a|d
fvomnlm|~ cami~ ~o ~mb`
oi ~d` i`s vok`)
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jopvimka|~ min fvomnlm|~`vmin sm| ~d` gav|~ Mvmf ~o
k`mn ~d` FFL Mvmfal |`vwal`
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^d` v`xov~ oi ~d` ain`t|man ~dm~ ~d` emjova~q
og fp|ai`|| `t`lp~aw`|
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og fp|ai`||`| `tx`l~
v`w`ip`| ~o cvos+ mk~dopcd
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aiw`i~ova`| min xvonpl~aoi
lmxmla~q ~o |~mq |~`mnq ov
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og loexmia`| mv` xkmiiaic
~o dav` i`s `exkoq``|+ ~d`
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^D@ FVA@GAIC^D@ V@CAOI
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N`w`koxe`i~ Loexmiq dm|
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v`wokwaic lv`na~ gmlaka~q a~
a| v`i`saic sa~d m fmib
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Mfp Ndmfa ai m vmic` og
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lv`na~ vm~aic lp~ ai Emvld
fq Eoonq| Aiw`|~ov|\`vwal` ~o Mm
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^D@ FVA@GAIC^D@ V@CAOI
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|dmv`dokn`v| og |`w`vmk
og ~d` Mgvalmi pia~| ~dm~
Bpsma~a ~`k`lo Zmai dm|
|okn ~o Fdmv~a Mav~`k dmw`
na|xp~`n ~d` |mk`+ sdald
lopkn govl` ~d` fpq`v ~o
govco osi`v|dax vacd~| ai
~d` |pf|anamva`|)
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^D@ FVA@GAIC AEXOV^ @TXOV^\
Npfma Lp|~oe|+ sdald
xvol`||`| fakkaoi| o nokkmv|
ai mav+ |`m min kmin%fm|`n
v`acd~ mld q`mv min
mneaia|~`v| oi` o ~d` sovkn| fp|a`|~
lmvco dpf|+ dm| vokk`n op~ ~d` |`loin
xdm|` o a~| mp~oem~`n n`lkmvm~aoi
|q|~`e+ Eav|mk 6) ^da| emb`| Npfma
Lp|~oe| ~d` v|~ o ~d` eavm~`|
cow`vie`i~ n`xmv~e`i~| ~o aexk`e`i~
m pkkq k`l~voial |q|~`e+ ai kai` sa~d
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meoic ~d` b`q v`m|oi| ov ~d` emjov
pxcvmn` voe ~d` ta|~aic Eav|mk
|q|~`e+ sdald sm| v|~ aexk`e`i~`n ai
=110 min dm| pin`vcoi` ldmic`| |ail`
~d`i) Eav|mk 6 fvaic| Npfma ai kai` sa~d
Sovkn Lp|~oe| Ovcmia|m~aoi $SLO!
v`}pav`e`i~| v`km~aic ~o `iovl`e`i~+
loexkamil` min mi~a%xavmlq e`m|pv`|)
\x`mbaic m~ ~d` kmpild o ~d`
i`s |q|~`e+ Mde`n Fp~~a Mde`n+
Npfma Lp|~oe| nav`l~ov c`i`vmk min
`t`lp~aw` ldmavemi o ~d` Xov~|+Lp|~oe| min Gv`` Zoi` Lovxovm~aoi+
`exdm|a|`n a~| |`lpva~q lv`n`i~amk|)
Sdm~ a| pia}p mfop~ ~d |q|~`e a|
~d ml~ ~dm~ a~| va|b m||`||e`i~ `icai`
kaib| ~d n`xmv~e`i~ sa~d kolmk+ v`caoimk
min ai~`vim~aoimk ovcmia|m~aoi| min
`i~a~a`|+ sdald xvowan aiovem~aoi ~o
~d nm~mfm| + d |man)
^da| |q|~`e a| n`w`kox`n ~o
loiove sa~d sovkn| f`|~ xvml~al`+
ailkpnaic ~d` v`}pav`e`i~| o ~d`
SLO+ Mde`n |man+ mnnaic ~dm~ a~
`imfk`| ~d` `k`l~voial |aciaic o~vmi|ml~aoi| p|aic naca~mk |acim~pv`|)
Eav|mk 6 sm| n`w`kox`n ow`v
m ~dv`` q`mv x`vaon+ sa~d Npfma
Lp|~oe|+ sovbaic ai lokkmfovm~aoi
sa~d m ipef`v o |~mb`dokn`v| sdo
aexov~+ txov~ min ~vmi|`v coon|
wam Npfma) Loexva|aic m vmic` o
lp|~oe| |`vwal`| ailkpnaic va|b
emimc`e`i~+ v`ca|~vm~aoi+ kal`i|aic
min `%xmqe`i~+ a~ `k`l~voialmkkq kaib|
Npfma Lp|~oe| ai~o o~d`v cow`vie`i~
mneaia|~vm~aoi|)
~vmi|xov~`v| lmvvqaic |emkk`v lmvco`|
lmi ios f` xvol`||`n eov` }palbkq
~dmi ~do|` sa~d facc`v xmqkomn|)
Npfma Lp|~oe| lkmae| ~dm~+ ov
lka`i~|+ ~d` i``n ov xmx`vsovb dm|
f``i v`npl`n min ai emiq lm|`|
`kaeaim~`n+ nvm|~almkkq lp~~aic
xvol`||aic ~ae`| min imfkaic vopin%
~d`%lkolb lk`mvmil` xvol`npv`|)
Dos`w`v+ mllovnaic ~o kolmk e`nam
v`xov~| ai ~d` s``b| okkosaic ~d`
ai~vonpl~aoi o Eav|mk 6+ ~d`v` dmw`f``i |oe` mvkq ~``~daic xvofk`e|)
Emiq aexov~`v| o |`loin%dmin
lmv|+ ox`vm~aic op~ o ~d` Npfma Lmv|
min Mp~oeo~aw` Zoi` $Nplmez!+ dmw`
loexkmai`n ~d` i`s |q|~`e v`}pav`|
eov` aiovem~aoi ~dmi ~d`q dmw`
v`mnakq mwmakmfk`) Pin`v ~d` ovacaimk
Eav|mk |q|~`e+ mp~oeo~aw` ~vmn`v|
s`v` v`}pav`n ~o mi|s`v |at }p`|~aoi|
ov |mk`| ~vmi|ml~aoi| ~o ~mb` xkml`)
Eav|mk 6 v`}pav`| v`|xoi|`| ~o
f`~s``i 60 min >8 }p`|~aoi|)
Sa~d ~d` mp~oeo~aw` |`l~ov f`aicoi` o ~d` ainp|~va`| eo|~ loeeoikq
m||olam~`n sa~d kmvc`%|lmk` ~d`~ min
v`fav~daic+ a~ |``e| ~d` mnna~aoimk
|`lpva~q e`m|pv`| dmw` ~dvosi px
|oe` vomnfkolb|) Dos`w`v+ ~da| a| io~
Pimllp|~oe`n ldmic`^d` i`skq kmpild`n |`loin c`i`vm~aoi og Npfma Lp|~oe| `k`l~voial v`ca|~vm~aoi |q|~`e+Eav|mk 6+ dm| m ko~ ~o kaw` px ~o+ CK@II GV@@EMI v`xov~|)
^da| |q|~`e a| n`w`kox`n ~o loigovesa~d sovkn| f`|~ xvml~al`+ ailkpnaic ~d`
v`}pav`e`i~| og ~d` SLO)
Mllovnaic ~o Npfma Lp|~oe|+
koncaic o nolpe`i~|+ sdald ai ~d`xm|~ sopkn o~`i ~mb` dopv| ov nmq|+
lmi ios f` loexk`~`n ai m em~~`v o
eaip~`| p|aic Eav|mk 6) P|`v| lmi
`k`l~voialmkkq xv`%n`lkmv` coon| f`ov`
~d`q mvvaw` ai Npfma+ `kaeaim~aic ~d`
`i~av`kq pi`tx`l~`n+ caw`i ~d` fvomn|lox` o Eav|mk 6+ sdald a| pin`vcoaic
v`i`e`i~| min mnjp|~e`i~| oi mi
oicoaic fm|a|)
^d`v` mv` lpvv`i~kq mvopin =80+888
v`ca|~`v`n lka`i~| m~ Npfma Lp|~oe|+
ailkpnaic v`acd~ ovsmvn`v|+ |daxxaic
loexmia`|+ aexov~`v| min txov~`v|)
Meoic ~d`|` mv` cvopx| |pld m|
Mk ^mq`v Koca|~al|+ Mvmemt min m
vm~ o o~d`v kmvc`+ dacdkq lmxa~mka|`n
loexmia`| o ~d` v`caoi)
cfHeo~awm~`)m`
i``n ~o emipmkkq xv`|`i~ xmx`vsovbm~ m lp|~oe| l`i~v` oi mvvawmk)
^d` i`s |q|~`e a| ai~`in`n ~o
xvowan` m|~`v xvol`||aic o v`acd~
~vmi|xov~`n ~dvopcd Npfma+ sdald
mllopi~| ov mvopin 30 x`v l`i~ o mkk
PM@ lmvco) Gov |daxxaic loexmia`|+
oi` o ~d` emjov f`i`~| a| ~dm~ ~d`
i`s |q|~`e na`v`i~am~`| f`~s``i
loi~mai`v |az`|) Ai ~d` xm|~+ mkk s`v`
|pfj`l~ ~o ~d` |me` xvol`||aic
~ae`| min emipmk xvol`npv`|) P|aic
~d` xmx`vk`|| |q|~`e o Eav|mk 6+
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]m~mv Im~aoimk Fmib ]pmv~`vkq V`|pk~|
\ail` ~d` |~mfka|de`i~ og ]m~mv Im~aoimk Fmib $]IF! ai =17>+ a~ dm| f`loe`
oi` og ~d` kmvc`|~ min gm|~`|~ cvosaic imilamk ai|~a~p~aoi| ai ~d` E@IM
v`caoi+ sa~d m xv`|`il` ai 66 lopi~va`| mvopin ~d` sovkn)
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6883) Dos`w`v+ ailkpnaic ~d` kmvc` ko||
m~ Cpk Gaimil` Dop|` $|`` ldmv~!+ ~d`
v`~pvi oi m||`~| ai 6881 sm| m kos`v
= x`v l`i~
va|` ai `}pa~q+ @eavm~`| IFN vo|` ~o
vmib v|~ ov lmxa~mk voe m xv`waop|
xo|a~aoi o ~davn) A~| xvo~mfaka~q x`v%
ovemil` sm| |~akk eov` ~dmi v`|x`l~%
mfk` caw`i ~d` ox`vm~aic `iwavoie`i~+fp~ m 1 x`v l`i~ n`lkai` ai i`~ xvo~
|ms a~ mkk ~o |at~d xkml` voe ~davn ai
~`ve| o i`~ xvo~)
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Fmibaic min Aiw`|~e`i~ Lovxovm~aoi
sm| fq mv ~d` kmvc`|~ fmib ai ~d` CLL
ai ~`ve| o i`~ xvo~+ va|aic emvcaimkkq
fq > x`v l`i~ ai ~d` q`mv ~o .=)4 fakkaoi)
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~d` dacd`|~ m~ >)== x`v l`i~) Ai ~`ve| o
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meoic|~ ~d` CLL 08 a| ]m~mv| Mk Vmq%
mi Fmib m~ m w`vq dacd 0)60 x`v l`i~+okkos`n lko|`kq fq PM@| VMB fmib
m~ 0)6= x`v l`i~) O~d`v w`vq xvo~mfk`
fmib| ailkpn`n ]m~mv A|kmeal Fmib m~
x`v l`i~ v`~pvi oi m||`~|)
Mk~dopcd m coon ~pvi mvopin sm| |``i
m~ Fmdvmai%d`mn}pmv~`v`n Mvmf Fmib%
aic Lovxovm~aoi+ sdald mlda`w`n i`~
xvo~ o .=0> eakkaoi ai 6881 okkosaic
m ko|| o .4 x`v l`i~ ai
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8/9/2019 Gulf Business | May 2010
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40/84>8 cpkfp|ai`||)loe Emq 68=8
^D@ FP\AI@\\CLL ox 08 Fmib|
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= = @eavm~`| IFN PM@ =6/81 37+361 466+43= =)4 < \MEFM \)Mvmfam =6/81 >1+01>+03+38>+ 6)00
0 4 ]m~mv Im~aoimk Fmib ]m~mv =6/81 >1+=14+780 >=+31+811 6)30
7 3 Vaqmn Fmib \)Mvmfam =6/81 >3+=07+30= >6+03>+883 =8)37 4=8+=0+7>=+==8 >>+3=0+1>8 >+881+138 >+>07+060 %=8)86 %=18+388 %>)64
>1 >4 Bpsma~ Ai~`vim~aoimk Fmib Bpsma~ =6/81 8+>67 6)43 %64+061 %8)3>
08 % Fmib Ndogmv Oemi =6/81
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Sd`v` ~d` sovkn
loe`| ~o fmib
Sa~d m cvosaic i`~sovb og ==8 fvmild`| min 708 M^E|+ ow`v oi` eakkaoi lp|~oe`v| ai
~d` PM@ ijoq opv `t~`i|aw` xov~gokao og |`vwal`|+ fmlb`n fq op~|~minaic tx`v~a|` min
kolmk biosk`nc`) Kolmkkq min ai~`vim~aoimkkq+ x`oxk` min fp|ai`||`| mv` i~vp|~aic
@eavm~`| IFN sa~d ~d`av pia}p` fmibaic min gaimilamk emimc`e`i~ i``n|)
^da| a| sdq @eavm~`| IFN a| sd`v` ~d` sovkn loe`| ~o fmib)
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42/84>6 cpkfp|ai`||)loe Emq 68=8
^D@ FP\AI@\\CLL ox 08 Fmib|
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= < @eavm~`| IFN PM@ =6/81 4+3==+3 3+86 1=8+336 =8)>7
6 = Im~aoimk Loee`vlamk Fmib \)Mvmfam =6/81 3+4+660 3+6+488 7)71 =+848+8=6 = Vaqmn Fmib \)Mvmfam =6/81 3+0>4+=3= 7+408+343 =8)=4 4=8+=8 =6)87 16+06>+487 )>7
3 3 \MEFM \)Mvmfam =6/81 7+8=0+ =+6=3+6>> 68)6>
4 == Im~aoimk Fmib og Mfp Ndmfa PM@ =6/81 0+071+78 >+03=+801 =1)43 =+=>1+811 68)13
=8 7 Bpsma~ Gaimil` Dop|` Bpsma~ =6/81 0+>04+=18 0+700+>66 %1 608+88 >+3+030 =+7 =73+
63 63 Mk Vmqmi ]m~mv =6/81 =+7 6>=+783 =>)33
64 Loee`vlamk Fmib og Bpsma~ Bpsma~ =6/81 =+067+10< =+378 %=)68 6 =)04
4 =+678= =3)>> 3=+)4=
88 7>=+6 0>+488 4)>7 >3 Im~aoimk Fmib og Fmdvmai Fmdvmai =6/81 7>=+1>8 034+=08 ==)8< ==
>3 08 Fmib og Fmdvmai min Bpsma~ Fmdvmai =6/81 7=>+>>> 000+810 =8)71 10 =0)=7
>4 >7 Bpsma~ Ai~`vim~aoimk Fmib Bpsma~ =6/81 788+8>0 040+=87 6)00 %64+061 %>)30
>1 >< PCF Fmdvmai =6/81 036+)=3
08 % Mdka Fmib og ]m~mv ]m~mv =6/81 008+8>7 =0)
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8/9/2019 Gulf Business | May 2010
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= = Mk Vmjda Fmibaic min Aiw`|~e`i~ Lovxovm~aoi \)Mvmfam =6/81 =+481+83< =+3 > =+=43+718 6)>1
< > ]m~mv Im~aoimk Fmib ]m~mv =6/81 =+=>1+811 =+88)00
> =< Im~aoimk Loee`vlamk Fmib \)Mvmfam =6/81 =+848+8=6 07=+410 16)6=
0 0 Im~aoimk Fmib og Bpsma~ Bpsma~ =6/81 16
=> =3 ]m~mv A|kmeal Fmib ]m~mv =6/81 0=+=6> %=1)78
=0 => Npfma A|kmeal Fmib PM@ =6/81
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8/9/2019 Gulf Business | May 2010
46/84>7 cpkfp|ai`||)loe Emq 68=8
^D@ FP\AI@\\CLL ox 08 Fmib|
~ox 08 cll FmiB| 6881 vmiB`n Fq loPi~vq $.888!Vmib6881
6884Vmib
FMIB IME@ Q`mv@in`n
Lpvv`i~M||`~| 81
Xv`waop|M||`~| 84
Cvos~dQOQ $%!
I`~ Xvog~ 81 VOM$%!
Fd
= = Mvmf Fmibaic Lovxovm~aoi =6/81 60+170+888 64+>47+888 %4)40 =0>+888 8)0>
6 < Mdka Pia~`n Fmib =6/81 6< 0>+488 =)=3
< % Fmib Ndogmv =6/81 +163 =7+4=3+117 6)>4
< > Nodm Fmib =6/81 =6+768+863 =8+3=6+=78 =3)4= 673+=87 6)>1
> 0 ]m~mv A|kmeal Fmib =6/81 =8+33>+>8< 1+6=6+766 =7)10 =+783 0)60
7 7 Mdka Fmib og ]m~mv =6/81 0+87=+784 >+444+074 46+>>7 =)71
3 % Mk Bdmkaj Loee`vlamk Fmib =6/81 >+483+381 7)01 >0+413 =)>8
|p mf= = Im~aoimk Loee`vlamk Fmib =6/81 74+4=8+708 01+=>3+=1< =7) =+848+8=6 =)41+01>+03+38>+ 6)00
< > Vaqmn Fmib =6/81 >3+=07+30= >6+03>+883 =8)37 4=8+= < Mk Vmjda Fmibaic min Aiw`|~e`i~ Lovxovm~aoi =6/81 >0+7>=+==8 >
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^D@ FP\AI@\\A\KMEAL GAIMIL@
Gataic ~d` lvmlb|
^d` i`mv%n`mpk~ oi Imbd``k|
.> fakkaoi |pbpb A|kmeal foinai N`l`ef`v 6881 dm| o%
lp|`n m~~`i~aoi oi ~d` ldmk%
k`ic`| mlaic ~d` A|kmeal imil` ai%
np|~vq m| ~d` ckofmk `loioeq `e`vc`|
voe a~| sov|~ v`l`||aoi ai n`lmn`|)
Dmn Imbd``k n`mpk~`n oi ~d` |pbpb+ a~
sopkn dmw` f``i ~d` kmvc`|~ n`mpk~ oi
mi A|kmeal foin w`v+ min ~d` ainp|~vq
sopkn dmw` f``i ai pildmv~`v`n ~`vva%
~ovq ai ~`ve| o dos ~d` n`f~ sopkn f`
v`|~vpl~pv`n min sdm~ vacd~| $a miq!
~d` |pbpb dokn`v| dmn ow`v ~d` m||`~|
o Imbd``k ov a~| xmv`i~ loexmiq+ Np%fma Sovkn) Ai ~d` w`i~+ ~d` km|~ eaip~`
.=8 fakkaoi fmakop~ fq Mfp Ndmfa mk%
kos`n Imbd``k ~o mwoan m n`mpk~ ~dm~
lopkn dmw` n`mk~ m |`w`v` fkos ~o ~d`
`i~av` A|kmeal imil` ainp|~vq+ sdald
dm| |``i xd`ioe`imk cvos~d ai v`l`i~
q`mv|+ xmv~alpkmvkq ai ~d` Eannk` @m|~)
Fp~ ~d` }p`|~aoi| ow`v dos ~d` A|kme%
al imil` ainp|~vq sopkn dmw` n`mk~
sa~d m n`mpk~+ min dos miq cpmvmi%
~``| ~o |pbpb%dokn`v| sopkn dmw` f``i
`iovl`n+ v`emai pimi|s`v`n)
Ai ~d`ovq+ A|kmeal fmib| min imilamkai|~a~p~aoi| |dopkn dmw` f``i kmvc`kq
ai|pkm~`n voe ~d` imilamk lva|a| o
6884%6881) \ail` A|kmeal imilamk ai%
|~a~p~aoi| mv` io~ x`vea~~`n ~o p|` n`%
vawm~aw`| ov ainpkc` ai `tl`||aw` va|b
~mbaic+ ~d`q nan io~ dmw` `txo|pv` ~o
~d` dacd va|b |pf%xvae` eov~cmc` emv%
b`~+ ~d` lokkmx|` o sdald ~vacc`v`n ~d`
lva|a| min fvopcd~ ~d` ckofmk imilamk
|q|~`e ~o a~| bi``| km|~ q`mv) Ai ml~+
sd`i ~d` `t~`i~ o ~d` lva|a| f`lme`
`wan`i~ ai 6884 emiq mimkq|~| |pc%
Ios ~dm~ ~d` iow`k~q min ~d` dqx` dm| |aee`v`n nosi+ ~d` A|kmeal gimil`
ainp|~vq ep|~ ~mlbk` |~vpl~pvmk s`mbi`||`| ~o cvos) CPKG FP\AI@\\ v`xov~|)
c`|~`n A|kmeal imil` min fmibaic
lopkn f` |``i m| m xo~`i~amk mk~`vim%~aw` ~o ~d` loiw`i~aoimk |q|~`e+ m i`s
imilamk sovkn ovn`v)
Gm|~%ovsmvn |`w`vmk eoi~d|+ min
~d` xal~pv` sm| }pa~` na`v`i~) Mk%
~dopcd A|kmeal fmib| s`v` v`km~aw`kq
pi|lm~d`n voe ~d` v|~ vopin o ~d`
imilamk lva|a|+ ~d`q s`v` io~ aeepi`
~o ~d` biolb%oi aexml~ ~d` lva|a| dmn
oi o~d`v m||`~ min loeeona~q xval`|
min ~d` v`mk `loioeq) A|kmeal fmib|+
xmv~alpkmvkq ai ~d` Cpk+ dmn kmvc` `t%
xo|pv`| ~o ~d` v`mk `|~m~` min `}pa~q
emvb`~| ~dm~ |p`v`n emjov ko||`|`mvka`v ~da| q`mv) Ai mnna~aoi+ ~d` kmlb
o ka}pana~q ai ~d` emvb`~ m`l~`n A|%
kmeal fmib| m| epld m| a~ nan loiw`i%
~aoimk oi`|)
~d` A|kmeal imil` ainp|~vq ow`v ~d`
km|~ q`mv dmw` fvopcd~ |`w`vmk xvofk`e|~o ~d` ov`+ min ovl`n ~d` ainp|~vq ~o
n`mk sa~d |oe` o ~d` |~vpl~pvmk a||p`|
~dm~ emq f` xv`w`i~aic a~ voe f`loe%
aic m wamfk` mk~`vim~aw` ~o loiw`i~aoi%
mk imil`) Vm~aic mc`ilq \~minmvn '
Xoov| dm| v`l`i~kq v`k`m|`n m v`xov~
dacdkacd~aic |`w`vmk o ~d`|` a||p`|+
min io~aic ~dm~ ~d`|` ldmkk`ic`| mv`
oikq kab`kq ~o ailv`m|` m| ~d` ainp|~vq
cvos| min wokw`|)
AI IME@ MKOI@?
Oi` a||p` a| ~dm~ A|kmeal imilamkxvonpl~| dmw` |o mv m~~`ex~`n ~o
v`xkalm~` loiw`i~aoimk imilamk xvon%
pl~|+ fp~ ai m smq ~dm~ a| ~`ldialmkkq
^d` v`|~vpl~pvaic| min n`mpk~| ai ~d`A|kmeal gimil` ainp|~vq ow`v ~d` km|~ q`mv
dmw` fvopcd~ |`w`vmk a||p`| ~o ~d` ov`)
^d` miiopil`n e`vc`v o PM@ eov~%
cmc` ve| Mekmb min ^mes``k ai Io%w`ef`v 6884 sm| x`vdmx| ~d` v|~
dacd%xvok` `tmexk` o v`|~vpl~pvaic
ai ~d` A|kmeal fmibaic |`l~ov m| m v`%
|pk~ o ~d` imilamk lva|a| min loi|`%
}p`i~ ka}pana~q lvpild) Ai Emq 6881+
Bpsma~a ve ^d` Aiw`|~e`i~ Nmv n`%
mpk~`n oi m .=88 eakkaoi |pbpb+ ~d`
v|~ `w`v |pbpb n`mpk~) Ai Jpkq km|~
q`mv+ Imbd``k miiopil`n a~ dmn |pl%
l`||pkkq v`|~vpl~pv`n a~| .308 eakkaoi
w`%q`mv Ajmvm |pbpb np` ai 68==)
^d` v`|~vpl~pvaic| min n`mpk~| ai
\dmvamd%loexkami~) Sdak` A|kmeal
imilamk xvonpl~| mv` \dmvamd%loe%xkami~ ai ~d` k`cmk |`i|`+ ~d`av `lo%
ioeal |pf|~mil` min aexml~ a| io~
dpc`kq na`v`i~ voe loiw`i~aoimk
imilamk ai|~vpe`i~|+ |man X`~`v Lm%
|`q+ nav`l~ov m~ ~d` Npfma Gaimilamk
\`vwal`| Mp~dova~q)
Ai ~d` foin emvb`~ ov `tmexk`+ A|%
kmeal |pbpb| dmw` ailv`m|aickq f``i
|~vpl~pv`n ~o v`xkalm~` loiw`i~aoimk
foin|+ xvowanaic aexkala~ lmxa~mk
cpmvmi~``| ov foin%dokn`v| ~dm~ co`|
mcmai|~ ~d` va|b/ xvo~ |dmvaic loi%
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^D@ FP\AI@\\A\KMEAL GAIMIL@
l`x~ aid`v`i~ ai A|kmeal imil`) ^da|
~v`in xvoex~`n oi` \dmvamd |ldokmv
~o v`xov~`nkq n`lkmv` ai 6884 ~dm~ 48
x`v l`i~ o lpvv`i~ |pbpb |~vpl~pv`|
s`v` io~ A|kmeal)
A|kmeal v`~mak fmib|+ xmv~alpkmvkq ai
~d` PM@+ dmw` mk|o okkos`n ~da| eon`k
mllovnaic ~o Vmj Emndm+ fmib| mimkq|~
m~ @GC D`ve`|) A|kmeal fmib| |pld m|
Mk Vmjda Fmib ai \mpna Mvmfam no dmw`
|oe` mnwmi~mc`| ow`v loiw`i~aoimk
fmib| ai ~dm~ ~d`q dmw` mll`|| ~o m kos
lo|~ pinaic fm|`) ^d`av lka`i~| xv``v
io~ ~o v`l`aw` ai~`v`|~%kab` ailoe` oi
~d`av n`xo|a~| `w`i a ~da| a| ~`ldialmkkq
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08 cpkfp|ai`||)loe Emq 68=8
\dmvamd%loexkami~ min ~d`q mv` k`||
xval`%na|lvaeaim~ovq) ^da| caw`| ~d`
fmib| m lp|daoi o xvo~mfaka~q ~dm~ a|
n`ia~`kq mi mnwmi~mc` ow`v loiw`i%
~aoimk fmib|) Dos`w`v+ PM@ fmib| dmw`
io~ f`i`~~`n voe ~da| xd`ioe`ioi
~o ~d` |me` `t~`i~+ f`lmp|` ~d`q loe%
x`~` sa~d loiw`i~aoimk fmib| ai ~`ve|
o ~d` v`~pvi| ~d`q o`v ~d`av lka`i~|+
`txkmai`n Emndm)
GVMCE@I^@N AINP\^VQ
Mio~d`v b`q ldmkk`ic` ~o ~d` pv~d`v
cvos~d min n`w`koxe`i~ o ~d` A|kmeal
imil` ainp|~vq a| ~d` na`vaic ai~`v%
xv`~m~aoi| o \dmvamd%loexkamil` ai
na`v`i~ xmv~| o ~d` sovkn) Mllovnaic
~o m v`l`i~ v`xov~ fq Xvo`||ov Von%i`q Sak|oi m~ ~d` Piaw`v|a~q o Npv%
dme+ w`i sa~dai ~d` Cpk Loox`vm~aoi
Lopilak+ sa~d ~d` tl`x~aoi o Fmdvmai+
~d`v` mv` io im~aoimk \dmvamd fomvn|
~o |`~ |~minmvn| ov \dmvamd loexka%
mil` min `i|pv` m~sm| a||p`n fq ai%
nawanpmk fmib| min ai|~a~p~aoi| no io~
loigal~) Sdak` ~d`v` a| ka~~k` nopf~ ~dm~
~d`v` a| ~v`e`inop| oxxov~pia~q ov
cvos~d ai A|kmeal fmibaic min imil`
ai ~d` xv`noeaimi~kq Ep|kae emvb`~|
o \op~d @m|~ M|am+ Eannk` @m|~ min
Iov~d Mvalm+ ~d` vmce`i~m~aoi o ~d`A|kmeal imil` ainp|~vq a| m dpvnk`
~dm~ ep|~ f` ow`vloe` a ~d` ainp|~vq
smi~| ~o loex`~` sa~d loiw`i~aoimk
fmibaic oi m ckofmk k`w`k)
^VMI\XMV@ILQ I@@N\
@e`vcaic voe ~d` imilamk lva|a|+
oi` o ~d` eo|~ xv`||aic a||p`| ml%
aic ~d` ainp|~vq a| ~d` mxxmv`i~ kmlb
o ~vmi|xmv`ilq+ lovxovm~` cow`vimil`
min v`cpkm~ovq ow`v|acd~ o A|kmeal
fmib|) ^d` lva|a| dm| |dosi ~dm~ A|%
kmeal fmib| mv` io~ aeepi` ~o xvof%k`e| |pld m| lovvpx~aoi+ ea|emimc`%
e`i~ min fmn aiw`|~e`i~ n`la|aoi|
~dm~ xkmcp` loiw`i~aoimk fmib|) ^d`
na`v`il` a| ~dm~ A|kmeal fmib| ~`in
~o f` k`|| ~vmi|xmv`i~ ~dmi ~d`av loi%
w`i~aoimk lopi~`vxmv~|+ |o ~d`|` a|%
|p`| mv` o~`i io~ mnnv`||`n pi~ak ~d`
fmib ml`| ~d` xv`||pv` o mi `t~`vimk
|dolb+ |pld m| m lokkmx|` ai m||`~ xval%
`| ov m emjov n`mpk~)
Mllovnaic ~o Nv D`iia` wmi Cv`pi%
aic+ |`iaov mnwa|ov m~ ~d` Sovkn Fmib
^v`m|pvq+ lovxovm~` cow`vimil` min
~vmi|xmv`ilq a| |mnkq kmlbaic ai A|%
kmeal fmib| mlvo|| ~d` v`caoi) M~ m
v`l`i~ loi`v`il` oi A|kmeal imil`
m~ ~d` Npfma Ai~`vim~aoimk Gaimilamk
L`i~v`+ Nv wmi Cv`piaic |man: ^vmi|%
xmv`ilq min na|lko|pv` mv` ~d` lovi`v%
|~oi`| o coon lovxovm~` cow`vimil`+
fp~ ai eo|~ A|kmeal fmib| imilamk
|~m~`e`i~| ~da| a| o~`i kmlbaic) ^d`
imilamk |~m~`e`i~| mv` io~ `m|q ov
op~|an`v| ~o pin`v|~min min mimkq|`
ai m e`miaicpk smq) Mk~dopcd ~d`
xvailaxk`| o A|kmeal imil` ailkpn`
~vmi|xmv`ilq+ ox`ii`|| min c`i`vmk
coon cow`vimil`+ ~d` aexk`e`i~m~aoi
min v`mka~q ai A|kmeal fmib| ~onmq
a| o~`i }pa~` na`v`i~+ min ~da| a| mldmkk`ic` ~dm~ ~d` ainp|~vq i``n| ~o
mnnv`|| coaic ovsmvn)
@WOKWAIC V@CPKM^AOI\
^o |oe` `t~`i~+ ~vmi|xmv`ilq ai ~d`
A|kmeal fmibaic ainp|~vq lopkn f`
aexvow`n fq |px`vwa|aoi min v`cp%
km~ovq mp~dova~a`|+ fp~ ~da| |``e| ~o
f` `m|a`v |man ~dmi noi`) Mk~dopcd
~d`v` dm| f``i coon xvocv`|| ai |`~%
~aic v`cpkm~ovq |~minmvn| ai A|kmeal
imilamk ai|~a~p~aoi| fq ~d` A|kmeal
Gaimilamk \`vwal`| Fomvn $AG\F! min~d` Mllopi~aic min Mpna~aic Ovcmia%
|m~aoi ov A|kmeal Gaimilamk Ai|~a~p%
~aoi| $MMOAGA!+ ~d`|` dmw` |o mv f``i
ioi%fainaic min loexkamil` a| wokpi%
~mvq+ pik`|| ~d`q dmw` f``i ailovxo%
vm~`n fq v`cpkm~ov| |pld m| ~d` NG\M
ai im~aoimk k`ca|km~aoi)
^d`v` mv` |`w`vmk na`v`i~ mx%
xvomld`| ~o v`cpkm~aic A|kmeal fmib%
aic min imil`+ vmicaic voe v`cp%
km~aic ~d` ml~pmk \dmvamd vpkaic oi
imilamk xvonpl~| ~o v`cpkm~aic ~d`
|q|~`e ai sdald A|kmeal fmib| ox`v%m~`) ^d` v`cpkm~ov ai Npfma ~d` NG\M
a| m |q|~`e| v`cpkm~ov+ min emb`|
io jpnc`e`i~ oi ~d` m~sm| ~d`e%
|`kw`|) ^d` NG\M dm| ailovxovm~`n ~d`
AG\F min MMOAGA |~minmvn| ai a~| mx%
xvomld ~o v`cpkm~aoi o ~d` |`l~ov+ fp~
m| m va|b%fm|`n v`cpkm~ov+ ~d` NG\M a|
olp||`n oi sd`~d`v ov io~ A|kmeal
fmib| min imilamk ai|~a~p~aoi| dmw`
lovv`l~kq mimkq|`n ~d` va|b| ~d`q ml`+
min ~mb`i mn`}pm~` |~`x| ~o kaea~ ~d`av
`txo|pv` ~o ~d`|` va|b|) M| m v`cpkm%
~ov+ s` mv` ai~`v`|~`n ai ~d` ai~`vimk
xvol`||`| min loi~vok| ~dm~ cow`vi
~d` fmib| ox`vm~aoi|+ ailkpnaic ~d`
ox`vm~aoi o a~| \dmvamd \px`vwa|ovq
Fomvn) S` v`}pav` m \dmvamd v`wa`s
min mpna~ fm|`n oi MMOAGA |~minmvn|+
min ld`lb ~dm~ ~d` fmib| na|lko|pv`
oi ~d` \dmvamd vpkaic| mv` mn`}pm~`+
|mq| X`~`v Lm|`q o ~d` NG\M)
M~ ~d` eoe`i~+ ~d` c`i`vmk loi%
|`i|p| meoic mimkq|~| min loi|pk~%
mi~| ai ~d` ainp|~vq |``e| ~o f` ~dm~
A|kmeal fmib| no io~ dmw` mn`}pm~`
va|b emimc`e`i~ |q|~`e| ai xkml`+
min aexvowaic ~da| m|x`l~ a| wa~mk a
~d` ainp|~vq a| ~o loex`~` sa~d loi%
w`i~aoimk imilamk ai|~a~p~aoi| ai ~d`
koic vpi)Dmva Fdmefvm+ |`iaov xmv~i`v m~
Xvm`|anape Loi|pk~aic+ a| mi `tx`v~
oi va|b emimc`e`i~ min imilamk
|`l~ov v`cpkm~aoi min |px`vwa|aoi) \d`
mvcp`| ~dm~ ~d` |me` mxxvomld ~dm~ a|
p|`n ~o an`i~aq min }pmi~aq va|b| ai
loiw`i~aoimk fmibaic lmi f` mxxka`n
ai A|kmeal fmib|) A|kmeal fmib| ml`
emiq o ~d` |me` va|b| ~dm~ loiw`i%
~aoimk fmib| ml`+ |pld m| lv`na~ n`%
mpk~ min emvb`~ va|b) ^d`q mk|o ml`
pia}p` va|b| v`cmvnaic \dmvamd loe%
xkamil` min ioi%loexkamil`+ fp~ ~d`e`~donokocq p|`n ~o an`i~aq min
}pmi~aq ~d`|` va|b| lmi f` ~d` |me`
m| ~dm~ mxxka`n ~o loiw`i~aoimk fmib|
fp~ sa~d np` eonalm~aoi ~o v`g`l~
~d` |x`lal a||p`| sdald mva|` ai A|%
kmeal imil`+ |mq| Fdmefvm) Oil`
~d` va|b| dmw` f``i an`i~a`n+ ~d`v`
mv` |~`x| ~dm~ A|kmeal fmib| lmi
~mb` ~o ea~acm~` ~d`|` va|b| sa~dai m
\dmvamd vme`sovb+ |d` |mq|)
A~ a| x`vdmx| pin`v|~minmfk` ~dm~
~d` A|kmeal fmibaic min imil` ai%
np|~vq a| xkmqaic lm~ld%px ai ~`ve| ova|b emimc`e`i~ min lovxovm~` cow%
`vimil`) A~ a| m qopic ainp|~vq+ min
dm| f``i n`w`kox`n kmvc`kq ai `e`vc%
aic emvb`~|+ sd`v` |~minmvn| o lov%
xovm~` cow`vimil` min v`cpkm~aoi
c`i`vmkkq mv` xvofmfkq io~ m| dacd m|
ai n`w`kox`n S`|~`vi emvb`~|) I`w`v%
~d`k`||+ a ~d` A|kmeal imil` ainp|%
~vq a| ~o loi~aip` ~o cvos min `txmin
ai~o ~d`|` eov` n`w`kox`n imilamk
emvb`~|+ ~d`|` |~vpl~pvmk a||p`| i``n
~o f` mnnv`||`n) i cfHeo~awm~`)m`
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^D@ FP\AI@\\GAIMILAMK L@I^V@\
M xkml` oi ~d` |~mc`
G
ov n`lmn`|+ Cpk imilamk ml~aw%
a~q sm| emaikq loil`i~vm~`n ai
Fmdvmai+ m lopi~vq sdo|` o%|dov` fmibaic ainp|~vq |pvc`n
m~`v ~d` n`ea|` o smv ~ovi F`avp~|
v`caoimk fmibaic vok` ai ~d` =138|)
Emimem| koic |~mfka|d`n vok` m| ~d`
v`caoi| o|dov` fmibaic min imilamk
l`i~v` sm| imkkq ldmkk`ic`n+ x`vdmx|
ai`wa~mfkq+ fq ~d` ox`iaic o vawmk l`i%
~v`|+ io~mfkq ~d` ==8%mlv` xpvxo|` fpak~
Fmdvmai Ai~`vim~aoimk Gaimilamk L`i~v`
ai 688> min fq ~d` |~mv~ px o ~d` ]m~mv
Gaimilamk L`i~v` m q`mv km~`v)
Gov a~| xmv~+ ~d` a|kmin v`|xoin`n
sa~d i`s mlaka~a`| min a~| .=)0 fakkaoiFmdvmai Gaimilamk Dmvfopv) ^d` loi%
lv`~` dm| f``i xopv`n+ ~d` ~os`v| fpak~
min ~d` ckm||%lkmn eoipe`i~| o lmxa%
~mka|e loexk`~`n) Dos`w`v+ ~d` loil`x~
o ~d` Cpk m| mi ai~`vim~aoimk imilamk
l`i~v` a| |~akk i`s min ~d` mefa~aoi o
~d` v`caoi| la~a`| ~o joai ~d` ckofmk fac
k`mcp` a| f`aic ~`|~`n)
Ioi`~d`k`||+ |oe` ai ~d` v`caoi |~akk
|~vaw` ~o joai ~da| `tlkp|aw` lkpf sa~d
\mpna Mvmfam aiw`|~aic d`mwakq ai ~d`
i`s Baic Mfnpkkmd Gaimilamk L`i~v` ai
Vaqmnd) Sd`i ~d` baicnoe miiopil`nxkmi| ov ~d` wm|~ .4 fakkaoi Baic Mf%
npkkmd Gaimilamk Na|~val~ ai Vaqmnd+
sdald a| `tx`l~`n ~o f` ox`i`n ai 68=6+
lva~al| s`v` }palb ~o m|b sd`~d`v ~da|
sm| io~ m imilamk l`i~v` ~oo mv ai ~d`
Cpk v`caoi)
Dos`w`v+ m |opin lm|` lmi f` emn`
ov ~d` wmvaop| l`i~v`|+ xmv~alpkmvkq
~d`av vok` ai m||a|~aic v`caoimk `loioe%
al cvos~d min |~aepkm~aic n`w`koxe`i~
min naw`v|alm~aoi)
]m~mv+ ov `tmexk`+ a| m emvb`~ ~dm~
^d` Cpk| l`i~v`| o gimil` |oe` okn min |oe` i`s mv` |~akk |~vpcckaic
~o c`~ ~d` v`locia~aoi min v`xp~m~aoi ~d`q i``n ~o loex`~` ai ~d` ckofmk
mv`im+ VOF@V^ FMAK@Q v`xov~|)
lmi f`loe` aexov~mi~ ov ~d` na|~vafp%
~aoi o ep~pmk pin|+ d`nc` pin| min
o~d`v lokk`l~aw` aiw`|~e`i~ w`dalk`|ow`v ~d` e`nape%~`ve) ^d` `eavm~` a|
mk|o s`kk xkml`n ~o xkmq m b`q vok` ai ~d`
n`w`koxe`i~ o A|kmeal imil`+ min+
x`vdmx| ~d` cvos~d o A|kmeal aiw`|~%
e`i~ pin|)
Npfma+ oi ~d` o~d`v dmin+ dm| f``i
kab`i`n ~o \aicmxov`) Ai `mld lm|` ~d`
cow`vie`i~ o m la~q |~m~` a| eofaka|%
aic `tl`|| |mwaic|+ epld o sdald ai
Npfma| lm|` loe`| voe i`acdfopv%
aic Mfp Ndmfa+ ~o n`w`kox mi `loioeq
~dm~ v`wokw`| mvopin v`caoimk ~vmn`
min |`vwal`|)Fo~d lopi~va`| mk|o dmw` c`ocvmxda%
lmk kolm~aoi m| mi mnwmi~mc` m| s`kk m|
~d` olamk loeea~e`i~ ~o xvoeo~aoi
o imilamk |`vwal`|) ^d` n`w`koxe`i~
|opin v`cpkm~ovq `iwavoie`i~+ a| loi%
nplaw` ~o imilamk aiiowm~aoi min a|
san`kq v`cmvn`n m| m xaoi``v ai ~d` n`%w`koxe`i~ o A|kmeal imil`) Fmdvmai
a| mk|o doe` ~o ~d` Mllopi~aic min Mp%
na~aic Ovcmia|m~aoi ov A|kmeal Gaimi%
lamk Ai|~a~p~aoi|)
M| oi` o ~d` k`mnaic l`i~v`| ov ~d`
a||pmil` o A|kmeal foin| $|pbpb|! a~ a|
dacdkq kab`kq ~dm~ Fmdvmai sakk f` mfk`
~o loi|okanm~` a~| aexov~mil` m| mi A|%
kmeal m||`~ emimc`e`i~ l`i~v`)
Sdak` mld o ~d` Cpk imilamk l`i%
~v`| emq in a~| osi emvb`~ iald`+
~d` koic%~`ve mae| o `mld o ~d` %
imilamk l`i~v`|+ min ~d`av |~m~` |xoi%|ov|+ dmw` ~d` loeeoi ~dv`mn o `lo%
ioeal naw`v|alm~aoi)
^d` m|xavm~aoi| o Npfma min o~d%
`v| ~o mlda`w` ~d` |~m~p| o aexov~mi~
\oe` ai ~d` v`caoi |~akk |~vaw` ~o joai~da| `tlkp|aw` lkpf sa~d \mpna Mvmfam
aiw`|~aic d`mwakq ai ~d` i`sBaic Mfnpkkmd Gaimilamk L`i~v` ai Vaqmnd)
o xvawm~` s`mk~d emimc`e`i~ emq
~pvi op~ ~o f` ~d` lm~mkq|~ ov ~d` i`t~|~mc` o cvos~d o Npfma| imilamk
|`vwal`| ainp|~vq)
Fmdvmai a| mlaic |~voic loex`~a~aoi)
Dos`w`v+ a~ |~akk v`~mai| oi` aexov~mi~
mnwmi~mc` o dmwaic olp|`n oi imi%
lamk |`vwal`|+ sdald ios mllopi~ ov 63
x`v l`i~ o ~d` cvo|| noe`|~al xvonpl~+
ov mv koic`v ~dmi o~d`v| ai ~d` v`%
caoi) @||`i~amkkq+ ~da| e`mi| a~ dm| mk|o
s`m~d`v`n emiq `loioeal lqlk`| min
piov`|``i `w`i~| ai~ml~)
^d` a|kmin dm| m s`kk `|~mfka|d`n+
ai~`vim~aoimk imilamk l`i~v`| |dopkn
mk|o f` pin`v|~oon ai ~d` loi~`t~ o joflv`m~aoi) Pi`exkoqe`i~ a| dacd meoic
~d` ainac`iop| xoxpkm~aoi+ q`mv okn| ai \mpna Mvmfam+
Fmdvmai min Oemi mkoi`)
A~ dm| f``i `|~aem~`n ~dm~ `w`vq jof
ai ~d` imilamk |`l~ov c`i`vm~`| ~so
ov eov` ai o~d`v v`km~`n ainp|~va`| ai%
lkpnaic mllopi~aic+ k`cmk sovb m| s`kk
m| ainav`l~ |`vwal`| |pld m| do~`k|
min ~vmw`k)
^d` emimc`e`i~ loi|pk~mi~ ElB%
ai|`q dm| `|~aem~`n ~dm~ fq o|~`vaic
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dm| ~o v``k fmlb ~o ~d` PB min Fmvaic|
Fmib| lokkmx|` ai =110+ ~d` @ivoi |lmi%
nmk ai ~d` P\ min \ola`~` C`i`vmk`| i`mv.7 fakkaoi ko||`| np` ~o vocp` ~vmnaic ai
`mvkq 6884) Nvmem~al min nmemcaic m|
~d`|` lvaeaimk `xa|on`| s`v`+ ~d` emv%
b`~| ai sdald ~d`q ollpvv`n s`v` fac
`iopcd ~o v`low`v v`km~aw`kq }palbkq)
@e`vcaic emvb`~|+ xmv~alpkmvkq ~do|`
sa~d kmvc` wokpe`| o ov`aci eoi`q
gosaic ~dvopcd ~d`e+ mv` mv eov` wpk%
i`vmfk`+ `|x`lamkkq ai ~`ve| o ai~`vim%
~aoimk x`vl`x~aoi| o ~d`av v`kamfaka~q
min loex`~`il`)
Cawaic v`mk ~``~d ~o ~d` v`cpkm~ov| ai
Cpk | imilamk l`i~v`| min ai|~akkaicm dacd`v n`cv`` o ~vmi|xmv`ilq min
mllopi~mfaka~q ai loexmia`| ox`vm~aic
sa~dai ~d`e sakk `idmil` ~d` l`i~v`|
|~m~p|+ `w`i npvaic m nalpk~ xdm|` o
v`caoimk min sovkn `loioeal v`low`vq)
^d` k`w`k o loeea~e`i~ mkv`mnq
emn` ai ~`ve| o loi|~vpl~aoi+ ox`vm%
~aoi| min ai~`vim~aoimk xmv~i`v|dax|
v`xv`|`i~| m w`vq wa|afk` |~m~`e`i~ o
ai~`i~) Sa~d v`cmvn ~o koic%~`ve xkmi|+
n`w`koxe`i~| |o mv ainalm~` ~dm~ ~d`
Cpk a| io~ |aexkq maeaic m~ m iald`
^d` k`w`k og loeea~e`i~ mkv`mnq emn`ai ~`ve| og loi|~vpl~aoi+ ox`vm~aoi| minai~`vim~aoimk xmv~i`v|dax| v`xv`|`i~| m
w`vq wa|afk` |~m~`e`i~ og ai~`i~)
aexov~mi~ ow`v ~d` i`t~ ~so ~o ~dv``
q`mv|) Lk`mvkq ~dm~ m|~ xml` eoe`i~pe
dm| f``i |~mkk`n fq `w`i~|)
Dos`w`v+ jp|~ dos epld Npfma| ae%
mc` dm| f``i n`i~`n fq a~| n`f~ lva|a|
min v`mk `|~m~` emvb`~ lokkmx|` sakk f`
|``i ow`v ~d` i`t~ `s eoi~d| min xo|%
|afkq q`mv|)
Ai ~d` e`mi~ae`+ a~ a| lk`mv ~dm~ mv
cv`m~`v m~~`i~aoi a| coaic ~o f` xman ~o
~d` k`cmk min mneaia|~vm~aw` v`cae`|
cow`viaic ~d` Cpk| imilamk n`mkaic|
min emvb`~|) Of|`vw`v| |mq eov` sovb
i``n| ~o f` noi` ~o lvm~ m |~mfk` %
imilamk `iwavoie`i~ ailkpnaic |px`v%
wa|ovq xvol`||`| min |~v`ic~d`iaic
v`cpkm~ovq vme`sovb|)
Wamfk` v`cpkm~ovq v`cae`| mv` `||`i%~amk ~o xv`w`i~ lvoiq lmxa~mka|e+ sdald
of|`vw`v| f`ka`w` sm| m |acialmi~
ml~ov+ ov `tmexk`+ ai ~d` =113 M|ami
imilamk lva|a|) D`v`+ emvb`~ e`ldm%
ia|e| min loi~vok| s`v` ~dsmv~`n
fq ~oo lko|` m v`km~aoi|dax f`~s``i
cow`vie`i~ min fp|ai`||) Gov ~d`
CLL+ ~da| e`mi| olp|aic d`mwakq oi
lovxovm~` cow`vimil`+ na|lko|pv` min
~vmi|xmv`ilq)
^d` Nmem| |lminmk dm| f``i m v`%
eain`v ~dm~ lovxovm~` cow`vimil`
|~minmvn| ai ~d` Cpk |~akk kmc f`dain~do|` ai `|~mfka|d`n imilamk l`i~v`|)
^d` j`s`kk`vq min cokn ~vmnaic loi%
l`vi+ sdald a| loi~vokk`n fq oi` o
Npfma| okn`|~ e`vldmi~ meaka`|+ dm|
f``i vmlb`n fq loi~vow`v|q ow`v mk%
k`c`n pimp~dova|`n ~vmi|ml~aoi|) ^d`|`
sovknsan`) Ai Fmdvmai+ fmib| osi`n fq
~d` ~so cvopx| dmw` f``i xkml`n ai mn%
eaia|~vm~aoi)Ai 6884+ m |~pnq fq ~d` Npfma%fm|`n
Dmsbmemd Ai|~a~p~` ov Lovxovm~`
Cow`vimil` min ~d` Sovkn Fmib mka%
m~`n Ai~`vim~aoimk Gaimil` Lovxovm~aoi
opin ~dm~ ~d`v` sm| io~ m |aick` xpf%
kalkq%ka|~`n loexmiq ai ~d` v`caoi ~dm~
s`v` loinpl~`n fq ~d` emjova~q osi`v|
okkosaic a~| .638 eakkaoi aia~amk xpfkal
o`vaic oi ~d` NAGL)
Ai \mpna Mvmfam+ k`in`v| mv` |~akk
v``kaic voe m |x`l~mlpkmv n`mpk~ fq
Mdemn Dmemn Mk Co|mafa ' Fvo~d`v|
Loexmiq min ~d` \mmn cvopx d`mn`n
fq fakkaoimav` Emmi Mk%\mi`m sdo a|
loii`l~`n ~o ~d` Mk Co|mafa meakq fq
emvvamc`) ^d` ~so cvopx| emq dmw`
fovvos`n px ~o .68 fakkaoi voe fmib|
okkos`n f`|~ xvml~al`)
^d` nmic`v ka`| ai ipv~pvaic mi `i%
wavoie`i~ ai sdald lovvpx~aoi emq
`|lmx` xpfkal `txo|pv`) Lva~al| o ~d`
v`caoi| cow`vimil` fkme` ~d` kmlb o m
~vmna~aoi o xmv~alaxm~aoi min o m xkp%
vmka|~al lawak |ola`~q) ^da| |~ag`| n`w`k%
oxe`i~ o ~vmi|xmv`i~ min ox`i cow%
`viaic |~vpl~pv`|)
^d` v`mka~q+ ~dopcd+ a| ~dm~ io ckofmk
l`i~v` a| aeepi` ~o |lminmk) Oi` oikq
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Emq 68=8cpkgfp|ai`||)loe 00
ov kolmk vok`) Loex`~aic sa~d ~d` kab`|
o \aicmxov` min Doic Boic e`mi|
io~ jp|~ `epkm~aic ~do|` l`i~v`| s`kk%`|~mfka|d`n |~minmvn| o xvoxva`~q+ fp~
loiwailaic ~d` ai~`vim~aoimk imilamk
loeepia~q ~dm~ ~da| a| ~d` lm|`)
\okan xvocv`|| a| f`aic emn`) Ai ~d`
La~q o Koinoi| ~sal` q`mvkq vmib%
aic| o ai~`vim~aoimk imilamk l`i~v`|+
Npfma sm| xkml`n 60 op~ o 70 l`i~v`|
sovknsan` ai 6883) ]m~mv min Fmdvmai
`i~`v`n ai >3~d min >>~d xkml` v`|x`l%
~aw`kq) Ai ~d` km~`|~ 6881 |pvw`q+ Np%
fma dmn va|`i ~o 6=|~ xkml` sa~d ]m~mv
xkml`n m~ >< min Fmdvmai m~ >>)
Mimkq|~| f`ka`w` ~dm~ ~d` Cpk| imi%lamk l`i~v`| dmw` ~d` xo~`i~amk ~o eow`
px pv~d`v ai ~d` AGL vmibaic|) Dos`w%
`v+ m v`mka~q ld`lb a| ai ovn`v |ail` ~d`v`
mv` s`mbi`||`| ai b`q mv`m| loexmv`n
~o o~d`v lopi~va`|)
^d` v`caoi| foin emvb`~|+ ov ai%
|~mil`+ v`emai pin`vn`w`kox`n sa~d
ka~~k` |ow`v`aci a||pmil`+ ka~~k` lovxo%
vm~` n`f~ a||pmil` min ka~~k` |`loinmvq
~vmnaic) Ai ~`ve| o ~d` n`f~ emvb`~
fvomnkq loi|a|~aic o cow`vie`i~ min
lovxovm~` foin|+ min mllopi~aic ov
8 x`v l`i~ o ~o~mk sovkn n`f~+ ~d`
CLL xkmq| m |emkk vok`)
Dos`w`v+ ~d`v` mv` o~d`v xawo~mkml~ov|) ^d` CLL v`xv`|`i~| m |az`%
mfk` xvoxov~aoi o sovkn s`mk~d sa~d
im~aoimk noe`|~al s`mk~d m~ jp|~ ow`v
.6 ~vakkaoi) Olamk `t~`vimk s`mk~d+
emaikq |ow`v`aci s`mk~d pin|+ a| `|%
~aem~`n ~o f` sov~d eov` ~dmi .6 ~vak%
kaoi) ^mbaic ai~o mllopi~ `t~`vimk xva%
wm~` s`mk~d+ ~d` ~o~mk xvofmfkq loe`|
~o .0 ~vakkaoi)
Of|`vw`v| f`ka`w` ~dm~ ~da| dacd k`w`k
o s`mk~d+ loefai`n sa~d ~d` ml~ ~dm~
~d` ainawanpmk \SG| o ~d` CLL v`x%
v`|`i~ |oe` o ~d` kmvc`|~ |aick` pinemimc`e`i~ ox`vm~aoi| ai ~d` sovkn+
`inos| ~d` Cpk| pin emimc`e`i~
fp|ai`|| mkoi` sa~d m xo~`i~amkkq xos%
`vpk ai~`vim~aoimk vok`)
^d` wokpe` o eoi`q min n`mk gos
e`mi| a~ a| dacdkq pikab`kq miq o ~d`
v`caoi| imilamk l`i~v`| sakk mak) Fp~
fvalb| min eov~mv mkoi` sakk io~ `|%
~mfka|d min pin`vxai ~d` |okan v`xp~m%
~aoi| ov imilamk n`mkaic| mlda`w`n fq
~d` sovkn| eov` em~pv` kolm~aoi|)i
cfHeo~awm~`)m`
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Im~pvmk | k l~aoi
GOV ~d` Mvmf ~opva|e ~vmn`+xmv~alaxm~aic ai ~d` Ai~`vim%
~aoimk ^opva|e Fopv|` $A^F! ai
F`vkai+ ~op~`n m| ~d` cv`m~`|~
~opva|e |dos oi `mv~d+ dm| f`loe`
|oe`~daic o mi miipmk va~pmk) Ain``n+
m kmvc` ~pviop~ fq Cpk tdafa~ov| m~ ~d`
Emvld `w`i~ |dos`n ~dm~ ~d` v`caoi a|
|~akk b``i ~o emb` a~| emvb ai m xo|~%
v`l`||aoi ~opva|e emvb`~)
^da| q`mv+ dos`w`v+ ~daic| s`v m ka~~k`
na`v`i~) dm~ xo|~ v`l`||aoi kmin|lmx`
a| mv voe m xal~pv` xo|~lmvn |l`i`+
M| Npfma ~va`| ~o v`fpakn a~| aemc`+ ~d` ~vmna~aoimk ~opva|e lmxa~mk og ~d`
Cpkg gml`| i`s ~dv`m~| gvoe m |`vaop| loex`~a~ov) EmIAb E@D^m v`xov~|
gvoe ~d` Ai~`vim~aoimk ^opva|e Fopv|` ai F`vkai+ min m|b|+ a| Oemi ~d`
i`t~ a~ n`|~aim~aoi?
sa~d Npfma+ |~akk ~d` v`caoi| facc`|~~opva|e nvms+ ~vqaic ~o v`cmai |oe` o
a~| ove`v ckovq m~`v m xvox`v~q lvm|d+
n`f~ |~min|~akk+ min v`me| o i`cm~aw`
xpfkala~q) A~ a| coaic ~o f` m ~opcd xa~ld+
`|x`lamkkq m| o~d`v+ k`|| l`k`fvm~`n n`|%
~aim~aoi|+ sma~ ai ~d` saic|)
^dmib| ~o m |~mxk` o dqx`n e`nam
v`xov~|+ Npfma| emkma|` f`lme` san`%
kq xpfkala|`n ai emiq o a~| ~vmna~aoimk
S`|~`vi emvb`~|+ ailkpnaic C`vemiq+
voe sd`v` ~d` eavm~` |opvl`| m |az`%
mfk` xov~aoi o a~| @pvox`mi ~opva|e
~vml) ^d` A^F+ ~dopcd+ sm| loi|an%`v`n mi ``l~aw` xkm~ove ~o xp~ ~d`
xal~pv` ai xvox`v x`v|x`l~aw`+ mllovn%
aic ~o m v`xv`|`i~m~aw` o Npfma| N`%
xmv~e`i~ o ^opva|e min Loee`vl`
Emvb`~aic $N^LE!+ sdald sm| xv`|`i~
m~ ~d` |dos sa~d eov` ~dmi =88 xmv~%
i`v| min `tdafa~ov|)
^opv| o Npfma dmw` i`w`v f``i m|
m~~vml~aw` min movnmfk` m| ios) M~%
~vml~aw` o`v| voe do~`k| min mavkai`|
emb` m wmlm~aoi ai ~d` sovkn e`~voxok%
a~mi la~q m pia}p` `tx`va`il`+ lkmae`n
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^d` N^LE v`|xoin`n g|~ ~o ~d` lva|a|fq kpildaic ipef`v og lexaci|
ae`n ~ xvoeo~aic ~opva|e)
m v`xv`|`i~m~aw` o ~d` N^LE| Gvmib%
pv~ ol`) Ai 6881+ 64
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04 cpkgfp|ai`||)loe Emq 68=8
m~`) Oemi sakk i`w`v f` m loex`~a~aoi
~dv`m~ ov Npfma f`lmp|` a~ no`| io~
dmw` mn`}pm~` do~`k| kab` Npfma) X`oxk`ai~`v`|~`n ai lpk~pv` min d`va~mc` wa|a~
Oemi+ d` |man)
Sdak` fo~d Npfma min Oemi |~v`||
~dm~ ~d`q no io~ loex`~` sa~d `mld
o~d`v f`lmp|` ~d`q mv` m| na`v`i~ m|
mxxk`| mv` voe ovmic`|+ fo~d n`|~aim%
~aoi| smi~ m kmvc`v |dmv` o ~d` ~opva|e
xa` min ~dm~ e`mi|+ aiwmvamfkq+ loe%
x`~aic mcmai|~ `mld o~d`v caw`i ~d`av
c`ocvmxdalmk xvotaea~q)
F`lmp|` o ~d` cvosaic ai~`v`|~
meoic|~ S`|~`vi ~opva|~| ai Oemi|
NPFMA
Ai ~d` v|~ ~dv`` }pmv~`v| o 6881+
Npfma |ms a~| ipef`v o do~`k vooe|
cvos =1 x`v l`i~ ~o 01+1+430 ai ~d` |me` x`vaon ai 6884)
^d` PM@ loi~aip`n ~o xo|~ ~d` kmvc`|~
ipef`v o vooe| ai ~d` ~o~mk ml~aw`
xax`kai` sa~d 06+077+ okkos`n fq \mpna
Mvmfam sa~d =>+=34)
Meoic ~d` emjov emvb`~| ai ~d`
v`caoi+ Npfma `in`n G`fvpmvq sa~d ~d`
eo|~ vooe| ai ~d` ~o~mk ml~aw` xax`kai`
sa~d
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^D@ FP\AI@\\CPKG OPVA\E
Emq 68=8cpkgfp|ai`||)loe 01
Emvaim+ ~o f` loexk`~`n fq 68=
8/9/2019 Gulf Business | May 2010
60/8478 cpkgfp|ai`||)loe Emq 68=8
^D@ FP\AI@\\CPKG OPVA\E
Sdm~ a| ~d` xvogk` o ~d` Mfp Ndmfa
wa|a~ov/~opva|~?
S` lpvv`i~kq no io~ dmw` m e`ldmia|eov ~vmlbaic wa|a~ov|/~opva|~| min s`
~mkb ai ~`ve| o do~`k cp`|~|+ m| s`
dmw` m e`ldmia|e ov ~vmlbaic min
xvokaic ~d`|`) Lpvv`i~kq 48 x`v l`i~
o opv do~`k cp`|~| mv` x`oxk` sdo mv`
ai ~d` `eavm~` ov fp|ai`|| xpvxo|`|
mfop~ =8 x`v l`i~ o ~d`|` lmi f` m~%
~vafp~`n ~o ~d` e``~aic|+ ail`i~aw`|+
loi`v`il`| min `tdafa~aoi| |`ce`i~)
S` mv` ios koobaic ~o f`~~`v fmkmil`
~d` }pm~aoi f`~s``i fp|ai`|| min k`a%
|pv` do~`k cp`|~|) S` wa`s opv k`a|pv`
~opva|~| m| ~do|` smi~aic ~o `icmc`sa~d kolmk d`va~mc`+ sdo |``b `tx`va%
`il`| o ~d` f`m~`i ~vmlb sdm~ s`
~`ve ~d` lpk~pvmk |``b`v)
Dos a| Mfp Ndmfa doxaic ~o nvms ai
wa|a~ov| sdo emq f` |xoak~ ov ldoal`
m| ~d` v`l`||aoi emb`| o~d`v Eannk`
@m|~ n`|~aim~aoi| eov` movnmfk`?
S` no ~da| fq k`w`vmcaic oi opv im~p%
vmk m||`~| min d`va~mc` sdak` xp~~aic
~oc`~d`v loex`~a~aw`+ wmkp`%mnn`n
xmlbmc`|+ sdald mv` o~`i kptpvq%ova%
`i~`n+ sd`i loexmv`n kab`%sa~d%kab`)Opv im~pvmk m||`~| mv` loi|an`vmfk`
ow`v 688 a|kmin| min >88 bakoe`~v`|
o lom|~kai`+ |~piiaic n`|`v~|lmx`|
min mila`i~ om|`|) Mnn`n ~o ~da| a| m
wafvmi~+ lo|eoxoka~mi lmxa~mk la~q) Na%
w`v|a~q o o`vaic min ~`vvmai a| m b`q
mnwmi~mc`) ^d` k`w`vmcaic o ~d`|` m|%
|`~| a| x`vdmx| f`|~ |``i ai Mk Cdmvfam+
~d` S`|~`vi v`caoi+ sd`v` \av Fmia Qm|
A|kmin dm| f``i ox`i`n px ~o ~opva|e
sa~d ~d` N`|`v~ A|kmin| V`|ov~ min
\xm fq Mimi~mvm) Cp`|~| m~ ~da| fop%
A~| io~ jp|~ Npfma ~dm~| fvaicaic ai ~d` wa|a~ov|) Epfmvmb Mk Epdmava+ nav`l~ov
c`i`vmk+ Mfp Ndmfa ^opva|e Mp~dova~q+ |dmv`| ~d` xkmi| min ~d` mxx`mk
f`dain ~d` PM@ lmxa~mk| m~~vml~aoi|)
~a}p` do~`k dmw` ~d` ldmil` ~o ~mb` ai
>t> cpan`n ~opv| o ~d` Mvmfami Sakn%
ka` Xmvb sd`v` miaemk| vome v`` minsdald dm| oi` o ~d` sovkn| kmvc`|~
d`vn| o Mvmfami ovqt eov` ~dmi >88
ai mkk) ^d` opva|e N`w`koxe`i~ min
Aiw`|~e`i~ Loexmiq $^NAL! dm| mk|o
k`w`vmc`n ~d` im~pvmk `iwavoie`i~ ai
a~| ]m|v Mk \mvmf n`|`v~ v`|ov~+ sdald
a| |`~ mean|~ ~d` ~os`vaic npi`| o
~d` Kasm N`|`v~ sd`v` cp`|~| lmi ~mb`
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