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20 October 2003
$1.3 BILLION BAHRAIN FINANCIAL HARBOUR PROJECT UNVEILED IN LONDON
Dubai, 20/10/2003: Bahrain Financial Harbour (BFH), the $1.3 billion development set to consolidate Bahrain’s status as the leading financial centre of the Middle East, will be previewed in London tomorrow at WaterfrontExpo. The BFH Chairman, Esam Janahi, and the lead project architect, Ahmed Janahi, will unveil the visionary project during the conference at the Excel Conference Centre in London Docklands.
Both will brief journalists and other distinguished guests on the pioneering scheme at a high-profile reception on Thursday 23 October at Claridge’s Hotel in London.
Work is currently underway on BFH, which has been called the “Canary Wharf of the Gulf”, on a prime waterfront site in the heart of Manama, capital of Bahrain. The two magnificent towers comprising the first phase are among Bahrain’s tallest buildings. They will accommodate leading regional financial institutions alongside other prestigious international companies and a Financial Mall - site of a number of financial markets including the Bahrain Stock Exchange. This single, strategic location will offer access to a $2,000 billion regional investment pool.
The BFH project will leverage Bahrain’s 30-year pedigree as the financial gateway to the Middle East. With zero taxation and overseas-friendly ownership regulations, Bahrain is a recognized regional base for international firms. Manama is host to more than 350 banks, insurance companies and other financial institutions, drawn by an open economy underpinned by international financial best practice.
BFH is the Middle Eastern focal point on the world’s financial map, combining access to global markets with the latest technologies, accommodation and leisure facilities. The centre is located on a high-profile site on the Manama Corniche, directly opposite the Manama Souq and retail district and only 15 minutes from Bahrain International Airport.
Mr Esam Yousif Janahi, Chairman of the BFH Holding Co, said: “Bahrain Financial Harbour is a revolutionary project that will give global investors and executives access to the Middle East while providing an unparalleled international focus for local business people. Bahrain Financial Harbour has everything modern financiers need.”
The first tenants will move in by the end of 2006 in advance of the December 2009 target date for completion of the entire project. BFH will comprise 26 individual developments, forming part of a harmonious and integrated design. The first four of these will be released in early December 2003.
Only 20 of the 38 hectares will be built upon, leaving the remainder for public space, roads, a leisure resort, and a concert hall. Of the gross building area of 570,000m?, some 266,000m? will be allocated to residential space, 250,000m? to commercial and 54,000m? to retail.
A pleasure-craft harbour basin will reflect the mercantile heritage of the city of Manama, overlooked by the first stage of the development, comprising 47 floors of business centres, office suites, exclusive residential apartments and health and recreation facilities.
Harbour House provides 10,800m? of offices for media-based enterprises specialising in business, finance and investment, and is attracting letting enquiries from broadcasters, publishers, marketing and media consultancies.
Bahrain Stock Exchange will be among the bourses active in the Capital Financial Market section of the project. The Stock Exchange has played a leading role in establishing the country’s position as the financial capital of the Middle East, and its decision to relocate to the Financial Harbour underlines the status of the scheme.
The presence of the Exchange is expected to attract complementary financial activities and as a result, letting enquiries are being received from investment and commercial banks, offshore banking units, fund managers, accounting and auditing firms. The Exchange began operations in 1989 with 29 companies listed and this has since grown to more than 40.
Among the leading institutions to have signed letters of intent to relocate to Bahrain Financial Harbour are Gulf Finance House, the Islamic investment bank, and Solidarity, the life assurance and long-term annuity Savings Company.
As placement agent and financial adviser to the project, GFH has demonstrated further commitment by choosing Bahrain Financial Harbour as its regional headquarters. GFH will occupy more than 11,000m? of floor space, creating a springboard for future expansion, backed by full-service resources and infrastructure.
Recognising Bahrain Financial Harbour’s status as a world-class financial complex and its strategic location for servicing target markets, Solidarity has also decided to establish its headquarters there.“Bahrain is long established as the financial capital of the Middle East and the Financial Harbour will give this status a genuine global dimension,” said Mr Khalid Abdulla-Janahi, Chairman of Solidarity’s founders’ committee. “For any financial institution serious about being a key player in the region, there is really no credible alternative to Bahrain Financial Harbour.”Imagery is available on request. Further information on the Bahrain Financial Harbour project can be found on the BFH website wwwbfharbour.com
Mr Esam Yousif Janahi, Chairman of the Bahrain Financial Harbour Holding Co, has broad experience in conventional and Islamic banking, particularly in structuring and managing investment funds, direct investments, asset management and advisory services. He has held senior positions with several financial institutions including First Islamic Investment Bank EC and Islamic Investment Company of the Gulf and is currently Chief Executive Officer of Gulf Finance House.
AHMED JANAHI – ARCHITECT, BFHMr Ahmed Abubaker Janahi is a Bahrain-born and UK-trained architect for whom the Bahrain Financial Harbour project marks the pinnacle of a distinguished career.He has designed the beautiful and highly acclaimed A’Ali Complex, among others, leading to his being commissioned to design the buildings and layout for the Bahrain Financial Harbour. His spectacular concept on the Manama waterfront links Bahrain’s mercantile history with its visionary future, creating a truly global landmark.
GULF FINANCE HOUSE
Established in 1999, GFH has grown rapidly to become one of the Middle East’s leading Islamic financial institutions. GFH has a paid-up capital of $65 million and authorized capital of $150 million. It is committed to the Islamic philosophy of ethical wealth management and this directs its innovation and shapes the structure of its investment products.
Apart from Bahrain Financial Harbour, GFH’s other major projects include Lebanon’s Arab Finance House, Bahrain’s Royal University for Women, Menajet – a low-cost airline initiative for the region, as well as several real estate investment funds.
SOLIDARITY
Solidarity was formed in January 2003 by corporate shareholders from Geneva, the Bahamas, Qatar, and Bahrain, and is expected to list on the Bahrain Stock Exchange by the end of this year.
It is believed to be the first regional Takaful and life assurance company that offers innovative products complying with Islamic principles. It operates under the governance of the Bahrain Monetary Agency – the Bahraini central bank – and focuses on markets in Bahrain, Saudi Arabia, Kuwait, Qatar, Iran, Yemen, Pakistan, Egypt, Lebanon, and Morocco.
Ministers to Discuss Deeper Economic Cooperation in Central Asia
MANILA, PHILIPPINES (20 October 2003) - Ministers and senior officials of the seven countries participating in the Central Asia Regional Economic Cooperation Program will gather in Tashkent, Uzbekistan, on 11-12 November to discuss ways to expand cooperation and deepen economic ties.
The Second Ministerial Conference on Central Asia Economic Cooperation will include ministers from Azerbaijan, People's Republic of China, Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan and Uzbekistan.
The country delegations will be joined by senior representatives from a number of multilateral institutions including ADB, the European Bank for Reconstruction and Development, the International Monetary Fund, the Islamic Development Bank, the United Nations Development Program and the World Bank.
The conference will feature a Senior Officials Meeting on 11 November and a Ministerial Meeting on 12 November.
Delegates will review progress in regional cooperation activities since the First Ministerial Conference in March 2002, which identified energy, transport and trade facilitation as priority areas.
The Ministerial Meeting will also provide direction and policy guidance for future work in the region.
ADB initiated the Central Asia Regional Economic Cooperation Program in 1997. The program's primary objective is to promote economic growth and raise living standards by encouraging economic cooperation among the participating countries.
The program is focused on financing infrastructure projects and improving the region's policy environment in the areas of energy, transportation and trade. This focus is intended to lessen Central Asia's economic isolation, maximize the potential benefits of available natural resources such as water, coal and natural gas, and ensure the formation of policy frameworks that support trade within and beyond the region.
ADB to Strengthen Devolved Social Services for the Poor in Punjab Province, Pakistan
MANILA, PHILIPPINES (16 October 2003) - ADB will help the government of Punjab, Pakistan, prepare a program to strengthen and expand the devolved social services for the poor in the province, through a technical assistance (TA) grant approved for US$300,000.
The program will aim to boost the effectiveness, efficiency, and equitable distribution of social services to better target the poor in health, education, and water and sanitation. It will also offer support for related services such as poverty reduction, community participation, and gender in development.
From August 2001, Pakistan's social services were devolved to district and tehsil (subdistrict) governments under a radically new governance system that has left the services in heavy demand. Education and health services were devolved to the district governments, and water supply and sanitation to the tehsil municipal authority.
"Devolved social services at the district level and below are the best way to achieve results that impact people and increase community participation, accountability, and sustainability of basic social services," says William Loxley, ADB Principal Education Specialist.
"But health and education administration and planning require extensive and continuing capacity building and substantial leadership. The focus of the TA will therefore be on relatively low cost services that are easy to administer and will benefit many people, especially the poor."
About one third of Punjab's population lives in poverty, on less than $1 per day, and faces harsh conditions such as water shortages, unemployment, political turmoil, security problems, and, in some areas, feudal land tenure systems. One third of the people lack access to clean drinking water, one quarter of school age children do not attend primary school, and two thirds of rural children aged 12-23 months are not fully immunized.
Meanwhile, women not only lack assets, opportunities, and a social safety net, but are bound by traditions and practices that affect their welfare and sometimes make it difficult for them to attend schools and clinics. The maternal mortality ratio, like immunization and school enrolment an important Millennium Development Goal (MDG), has remained very high due to lack of family planning services despite high demand, and lack of midwives and emergency obstetric care. Malnutrition is a major public health problem affecting both women and children.
However, poor social indicators notwithstanding, there have been a number of recent positive developments in the region. Females are increasingly getting access to education and employment, while communities are organizing themselves to operate schools, clinics, and water schemes under devolution.
With ongoing ADB assistance, the government of Punjab has set ambitious targets for the social sector under its Poverty Reduction Strategy and Program toward the MDGs.
The Devolved Social Services Sector Development Program for Punjab is included in ADB's 2004 pipeline of assistance for $150 million, and follows a similar program for Sindh, which is in ADB's current year's assistance pipeline.
"Punjab already has an extensive network of schools and health care facilities, which when properly managed and functioning will provide major public health benefits to the poor," adds Marshuk Ali Shah, Country Director of ADB's Resident Mission in Pakistan.
"Activities in the upcoming project will aim at improving run-down facilities and supporting new initiatives, including public-private partnerships."
A flexible approach is followed to ensure that funding will be complementary to support of other donors and address the gaps that hamper effective delivery of social services.
The preparatory TA will promote discussions with stakeholders to recommend social sector policies that will help improve the efficiency of local governments in the delivery of social services. Then, activities will be designed to help the local governments improve the quality of the expanded social services.
"Priorities will mirror the MDGs in extending universal basic education, reducing dropout rates, improving gender balance, reducing maternal and child mortality, and increasing access to safe drinking water supply and sanitation," Mr. Shah adds.
The total cost of the TA, which is due to be completed by end-May 2004, is estimated at $400,000, of which the provincial government will contribute $100,000 equivalent. The Planning and Development Department of the government of Punjab will be the Executing Agency for the TA. A steering committee will be established to provide overall guidance.
Reforming Mongolia's Health System to Redirect Resources To Health Care
By Graham DwyerMANILA, PHILIPPINES (13 October 2003) - After years of being mired in the Soviet system of maintaining big expensive hospitals, rationalizing Mongolia's gargantuan hospital system is one of the major challenges facing the country's health sector.
Health care, at least in the cities, is often characterized by long hospital stays (more than 10 days on average) and relatively high admission rates.
In any one year, about one fifth of the population is hospitalized.
Much of the health budget is therefore spent on keeping its hospitals open and heated, depleting funds needed for the care of patients.
Many of the hospital admissions are for services or illness that in other countries would be treated on an outpatient basis, including headaches and hypertension.
"A public health culture dominated by hospitals has left the country with unequal access to quality health services, particularly in rural areas, where there is also a shortage of doctors and other qualified health workers, mostly dilapidated health facilities, and a lack of basic equipment and supplies," says Takako Yasukawa, an ADB Health Specialist.
"But resistance is strong to reducing the number of beds and hospitals, not only among health staff and government officials, but also the public, who have become accustomed to spending time in hospital for even minor ailments."
Such was the outcry, that the Ministry of Health's plans to close or merge hospitals have been suspended. New hospitals are being built and the number of hospital beds has been increasing in the capital, Ulaanbaatar, since 2000.
The efficiency of the health sector is also hampered by overstaffing and poor staff distribution.
"There are basically too many doctors based around Ulaanbaatar. Incentives have to be provided for medical staff to stay in rural and remote areas," Ms. Yasukawa says.
"Mortality rates are consistently higher in rural than urban areas, indicating that rural Mongolians have not benefited equally from health service improvement."
To help address this disparity in health services, ADB approved earlier this year its Second Health Sector Development Project, which will improve the availability and quality of rural health services, especially for the poor and vulnerable, including women and children
The project will also bring wider benefits to the rest of the country by supporting sector reform and institution building, through training and development of managers and staff.
Major obstacles to attracting and retaining qualified health staff in the rural areas are isolation, the small size of medical practices (reflecting low population density), lack of up of up-to-date technology, and scant transportation and communications.
Recently, the Ministry of Health prepared a strategy to train and retain district health workers and pilot a new system of payment. ADB's project will assist this initiative and provide an integrated set of improvements.
The project will strengthen public health education and preventive activities, including maternal and child health services, and infectious disease control.
It will also help renovate and equip local health centers and hospitals, train health system staff at all levels to improve service delivery, and promote payment arrangements that increase the amount of attention given to the poor.
These include a capitation payment, under which service providers receive payment based on the number of population they are responsible for taking care of. The monitoring system that is set up concurrently monitors actual use of services by the poor and assesses if service providers fill their pro-poor duties as defined in capitation payment contracts. A capitation payment mechanism, contracts and a monitoring system are the tools to ensure needy people's access to, and use of, health services.
On a national as well as provincial and district level, it will strengthen institutional capacity in planning, budgeting, staffing management, evaluation, and coordination.
"Transparent and accountable management who are well trained will ensure that quality services are delivered to those who need it most, the poor and vulnerable," says Ms. Yasukawa.
"Changes in management must keep pace with the better services and improvements at grassroots level. That is essential if, in the long term, the country is going to successfully redirect resources to health promotion and disease prevention and quality primary health care."
Panasonic achieves over 1.1 billion dollars sales target in the Middle East this fiscal year, a 10% increase from last year's figures
Latest entertainment and business system solutions products displayed at Gitex Dubai 2003
October 20, 2003
Unveiling the global brand slogan "Panasonic ideas for life" for the
first time at the GITEX Dubai 2003 show, Panasonic has exhibited the latest
products in entertainment and business system solutions, under the theme
'Panasonic ideas for life' at Gitex 2003. Panasonic has also announced that it has achieved a sales target in the Middle East of over 1.1 billion dollars
in this fiscal year, a 10% increase of over last year's figures. By the
end of the next three years they intend to achieve a 50% increase in
business volume in the region, with plans to focus on merchandising and
aggressive marketing to push sales even higher. This was announced at a press conference held today, (Monday, October 20, 2003).Shoji Itoh said, "The Middle East is a growing market for Panasonic's
range of consumer electronics and business solutions. Consumers in the region demand the latest and most technologically advanced electronic goods, be it for personal or professional use. At GITEX Dubai 2003, we have
displayed an exciting range of products that will strengthen our position as
leading providers of entertainment and business system solutions. Our key focus is on products that cater to the needs of the emerging digital
networked society under the theme 'Panasonic ideas for life'. Each of the
products reflects our vision of 'creating a more convenient and affluent society where all homes and business applications are networked together"."Many of our new products are trend-setting and the result of extensive
research aimed at not only finding unique ways of providing
entertainment, but also innovative methods of
storing, transferring and mixing data or files, using SD or DVD-Ram
technology. Whether it is the new AV display systems, SD card products, office automation systems, network camera systems or telecommunication systems, Panasonic intends to dramatically alter the way people work and play in this digital age", added Itoh.In the exhibit, Panasonic presents total solutions areas, from
e-platforms to e-business, and even e-products, all of which will change the future of households, public places, and businesses. Creating display corners
identified as Virtual Shop, Virtual Office, Mobile Computing Solutions
and Display Solutions the new products in Business System Solutions are
networked in virtual environments. Featuring in the Virtual Shop are
the 'Digital Poster' and 'the Glass Vision' applicable in Shop Displays.
The Virtual Office shows us the networking possibilities for future office
documentation and communication. Mobile Computing Solutions Corner
within the stand will display the latest 'Toughbook' laptops from Panasonic.
And finally the Display Solutions area showcases the high end DLP
projectors used for large venues, showing the new feature of 'Edge Blending'.
Within the same corner lie the Plasma Display Panels with the multi-functional
slot feature and vertical display options.Panasonic has displayed the latest in digital technology like the LUMIX
Digital Still Cameras, Digital Video Cameras, multifunction
copiers/fax/printers, GIGA range telephones, IP network Camera for security purpose, Hybrid IP-PBX and the latest GSM handsets. Showcased are the latest range in the D-snap series of products, powered by SD memory card technology, it includes the world's smallest MPEG2 SD video camera and the world's slimmest digital camera with built-in LCD Monitor.Panasonic's new DIGA range of DVD video recorders at GITEX have the
industry's largest built-in 80GB hard disk drive and give consumers the option of recording on either DVD-RAM or DVD-R disk, or storing up to 106 hours
of video on its hard disk drive. Leveraging the remarkable capabilities of the DVD-RAM format, the Time-Slip function in the new DVD Video Recorders offers the facility of playing back any portion of an ongoing programme even as it continues live recording.The new models of high-definition Plasma Display Panels,?feature
Panasonic's unique Real MACH System that are integrated to provide levels of gradation, contrast, and sharpness that optimally suit the way the human eye perceives images, signifying a dramatic improvement over present displays, eliminating weaknesses like blotchy picture and lack of clarity during dark scenes.Panasonic will also unveil its latest range in the D-snap series, using
SD Memory Cards including the SV-AV100, the world's world's smallest
and lightest video camera and the first of it's kind to enable recording in
MPEG2 format, and the SV-AS10, the world's slimmest, Multi Camera
device which also functions as a Motion JPEG video camera, music player and
voice recorder, making its ideal for capturing live sports matches and
events.
The D-snap series is a line of advanced mobile AV products that offers
a new lifestyle concept under the slogan ' Snap-View-Fun'.
Another one of Panasonic's much talked about products at GITEX will be
the Toughbook CF-W2, the only laptop in the ultra-lightweight category
to have an integrated DVD-ROM/CD-RW Drive. Weighing just 1.3 kgs, with
a thickness of 1.6 inches, the CF-W2 is the world's thinnest and
lightest industrial-grade rugged computer and offers upto seven hours of battery runtime. In its office solutions range, Panasonic is also introducing
ultra-compact, LCD projectors including the micro-portable PT-LC80 that weighs just 2.2 kgs and is the same size as anA4 size sheet, with a height of 65 mm. The PT-LC80 delivers
super-bright output of 2000 ANSI lumens, and brightness uniformity of 90%.
Panasonic's business solutions line of products also include a Digital
Poster, an innovative Plasma Smart Stand consisting of a plasma display
panel (PDP), speakers and PDP box, that displays information,
announcements and advertisements in moving image format, using AV technology. The Digital Poster is available in a horizontal or vertical display format.
Also on display is a range of network-capable security colour cameras
that capture live images and display them on PCs. The new cameras integrate
digital video camera, web server and a network interface into one
compact housing, which can be connected directly to an Ethernet terminal. Thus users in a remote location can dial up to the IP address and
effortlessly view dynamic surveillance images in JPEG and MPEG-4 formats.
A new range of mobile phones are on display at Panasonic's GITEX
stand, including the ultra-sleek X70 mobile phone, Panasonic's only GSM mobile phone that comes with not only MMS, but also Bluetooth and IrDA, as well as in-built 110k pixel digital camera and full multimedia functions, to
exchange rich content message instantly.
Panasonic's new GIGARANGE digital cordless phones at Gitex, offer a
revolutionary voice announcement system that activates a voice instead of a ringer, when there is an incoming call. The phones have an inbuilt walkie-talkie system and multi-tasking capability, which allows each user to use their
handset for a different function simultaneously. The phones can also be
networkable up to eight handsets with five-way conference calling and Voice
Enhancer Technology. Panasonic is participating in Dubai GITEX 2003, along with its UAE sole distributor Panatech Engineering and Oman National Electronics, part of the Al Futtaim Group.Algeria: Human Rights Defender acquitted in retrial
Government must end intimidation of Rights Activists(New York, October 17, 2003) The acquittal yesterday of Algerian human rights activist Salaheddine Sidhoum was a welcome step toward ending Algeria's record of intimidating those who work to protect human rights, Amnesty International and Human Rights Watch said today.
The decision by a criminal court in Algiers came in a retrial of Sidhoum's earlier conviction in absentia, which had resulted in a sentence of 20 years imprisonment.
"We are delighted that Salaheddine Sidhoum is now able to return to a life in freedom and hope that this is a positive sign for human rights defenders in Algeria who must be able to carry out their work without interference or harassment," said June Ray, Director of Amnesty International's Middle East and North Africa Program.
Sidhoum, a physician and human rights activist, lived in hiding since 1994 following threats against him allegedly by both the security forces and armed groups. Wishing to clear his name and return to a normal life, he presented himself to the public prosecutor in Algiers on September 29 and was remanded in custody to await a retrial on the charges previously brought against him. He spent 10 days in Serkadji Prison in Algiers, most of the time on hunger strike, until he left the court yesterday a free man.
Sidhoum's conviction in absentia was handed down in 1997 while he was still in hiding. He had been accused of undermining the state, among other charges related to "acts of terrorism or subversion". The trial took place at a time when Algeria's courts routinely and massively violated the right of defendants to a fair trial, especially those charged with security offenses.
At the retrial, defense lawyers asserted that the court file contained only vague charges against Sidhoum but did not connect him to any specific deeds. The file contained incriminating statements by others, but these were unpersuasive, according to defense lawyers. The prosecutor argued yesterday that if Sidhoum had been in hiding all these years, he must have been with an armed group. He asked the court to impose a seven-year prison sentence on Sidhoum. The court deliberated for only about one hour before finding Sidhoum innocent on all charges. The court is expected to issue a written decision in the case at a later date.
The trial was attended by journalists and international observers, including Tunisian lawyer Samir Ben Amor, who represented Amnesty International and Human Rights Watch. However, police and security officers cordoned off the area around the courtroom and prevented access to members of the public, according to Ben Amor. Human rights organizations have repeatedly expressed concerns about restrictions imposed by the Algerian government on human rights defenders in their efforts to document and raise awareness about ongoing killings and torture, and the legacy of the past.
"Algeria faces an overwhelming problem of impunity for the most serious human rights violations committed over the past decade," said Joe Stork, acting director of Human Rights Watch's Middle East and North Africa division. "Tens of thousands of killings and thousands of 'disappearances' remain uninvestigated to this day. The Algerian authorities should do all they can to ensure that those working to protect human rights will not be subjected to arbitrary restrictions, harassment or intimidation."
Background
Since the late 1980s Sidhoum has been documenting human rights violations and disseminating reports filled with details of incidents of torture, summary executions and "disappearances" attributed to the security forces and their allies. This work, which continued even while he was living clandestinely, helped to alert the international community to human rights conditions in Algeria. He also published a chronology of killings committed over the past decade, including killings of civilians committed by armed groups.
Sidhoum went into hiding in December 1994, not long after he gave an interview to a BBC documentary filmmaker in which he denounced torture and summary executions attributed to the security forces. On December 18, 1994 - the day after the documentary, "Algeria's Hidden War", aired on French television - three armed men in plainclothes who were believed to be security officers came to Sidhoum's home in Algiers and demanded to see him. Upon being told that he was not home, they threatened his 80-year-old aunt if she did not reveal his whereabouts, and then left.
Sidhoum's fears for his personal safety had already been aroused by an article in the September 22, 1994, edition of the Algerian daily newspaper El-Watan that alleged that he belonged to a network of doctors providing medical care to wounded militants. Some of the physicians mentioned in the article had already been placed in detention. One of them was allegedly tortured, partly to extract a "confession" that Sidhoum was an Islamist supporter. That article appeared only two weeks after Sidhoum had sent an open letter to Algerian President Lamine Zeroual that provided details on 53 cases of alleged torture or summary executions.
Under international standards - including the United Nations Declaration on the Right and Responsibility of Individuals, Groups and Organs of Society to Promote and Protect Universally Recognized Human Rights and Fundamental Freedoms - the Algerian authorities have an obligation to ensure that human rights defenders are able to enjoy all their rights and freedoms in practice and to carry out their work without harassment or intimidation.
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