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MAKKAH – An old man in Makkah is living in a heap of cartons and roaming around without knowing where life will take him.

The scene is certainly not inspired from Les Miserables, the famous novel written by French writer Victor Hugo. It is a story of a miserable man aimlessly wandering on roads and streets without knowing anything more than his name, Ali Al-Harbi.

Al-Harbi is reluctant to let anyone come near him and if people try to do so, he may throw stones at them, exactly as the helpless Palestinian children do with the Israeli aggressors.

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INTERVIEW

Rahla Khan interviews British Muslim author and publisher Naima B. Robert

A story about Ramadan, reputation, rebellion and redemption. A story of a twin brother and sister, 16, and the first Ramadan during which they are trying to be better Muslims and how their past lives are determined to claim them back.

Sounds interesting?

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JEDDAH – Assets of exchange traded products (ETPs) surpassed $1,000 billion near the end of 2009, up a staggering 45 percent year over year.

After a drop in 2008, asset growth for ETFs and other exchange traded products (ETPs) has resumed, and assets of all ETPs globally exceeded the $1,000 billion milestone in 2009. There are now more than 2,600 ETPs, with some 4,800 listings on more than 40 exchanges from about 140 providers, and hundreds are currently in the planning stage. Moreover, ETPs now account for approximately 30 percent of the average daily volumes in US listed equities, and approximately 10 percent of European average daily volumes. ETP providers continue to launch products with new asset classes and market exposures, many of which are only tradable off exchange.

Given the vast jungle of ETPs listed around the world, even professional investors are finding it difficult to distinguish between the various index-tracking products – all of which trade like single stocks on recognized exchange. At a very high level, it is important for investors to appreciate that there are basic structural differences between the various categories of exchange traded products. Some of the confusion, no-doubt, comes from various category acronyms that have developed among the product providers and market makers. Some would say its a nightmare of acronyms – I would agree and have tried to provide an overview of the basics that have helped me distinguish the evolving ETP jungle.

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RIYADH – Dr. Bandar Al-Eiban, President of the Human Rights Commission (HRC), has said King Abdullah, Custodian of the Two Holy Mosques, is characterized by his clear ideas and wisdom regarding local, regional and international concerns.

King Abdullah is known for his frankness and keenness for enhancing Arab relations, Dr. Al-Eiban said in an article on the occasion of the 5th anniversary of King Abdullahs accession to the throne.

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JEDDAH – Todays CEO job is shorter, more intense, and more globally consistent across regions. In just the past decade, boards have shaved nearly two years off the typical CEOs tenure; chief executives today have a little over six years to make their mark. And fewer are being awarded the chairmans title when they come into office-12 percent versus 48 percent as recently as 2002. The CEO is evermore accountable to his board (“his” because the fact remains that 96 percent of incoming CEOs last year were men). Bottom line: The room for error is smaller, which makes getting it right the first time all the more crucial.

Booz & Company, which recently completed its 10th annual study on CEO turnover among the worlds largest 2,500 public companies analyzed 3,617 succession events since 2000 globally. In the Middle East region, turnover was recorded at a slightly higher level than the global average due to two contradictory dynamics. CEOs restructuring plans were heavily triggered by the world recession after years of economic boom, but due to the faster recovery that the Middle East region is experiencing, more former CEOs are stepping into other business roles.

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JEDDAH – Okaz Organization for Press and Publication held on Saturday its annual staff awards ceremony which this time included a special honoring of Okaz writer Abdo Khal for his winning of the 2010 International Prize for Arabic fiction.

“Abdo Khal is for us not merely an Okaz columnist,” Muhammad Al-Tunisi, Okaz Editor-in-Chief, told the gathering at Jeddahs Hilton Hotel. “He has been with us for 27 years, is a model member of staff, and a part of the organizations family.”

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JEDDAH – The Gulf Cooperation Council (GCC) region is one of the worlds fastest growing economic blocs. The six economies together are expected to grow by 56 percent to $2 trillion over the next 10 years while the population is projected to record an increase of 30 percent to 53.5 million.

The social costs of this fast-paced growth, however, are now a cause of concern. Overall healthcare costs in the GCC region are expected to be as high as $60 billion by 2025, nearly five times more than the expense currently incurred by the governments.

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JEDDAH – A real estate millionaire who had her search for a husband published in Roa magazine, a sister publication of Okaz, has been flooded with letters from men who are dreaming of marrying her – including an editor-in-chief and three prominent writers who are aged between 50 and 70 years.

The 50-year-old millionaire has a strict package of conditions for the man of her dreams, including that he should be educated and not be after her fortune.

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The Pakistan Repatriation Council (PRC) held a function last week on the occasion of the 72nd anniversary of the death of Allama Iqbal – Pakistans thinker, philosopher and poet.

It was presided over by renowned poet and Islamic Development Bank (IDB) executive Naseem Sehar. In his address he argued that Iqbals poetry convinced Muslims to set up a separate homeland. He also presented a poem in tribute to Iqbal.

Chief Guest Syed Riaz Bukhari, president of the Pakistan Peoples Community, the Saudi Arabian representatives of the Pakistan Peoples Party, said Allama Iqbal was the architect of the two nation theory and was instrumental in creating awareness of the need for a Muslim homeland.

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JEDDAH – The Commission for Promotion of Virtue and Prevention of Vice (the Haia) is to be the subject of a 30-episode television series addressing the “importance of the Haia and its relation to Saudis and society”.

The as-yet unnamed series, which is being made by well-known Saudi thespians and scriptwriters Mohammed Al-Zahrani and Ahmed Talal, is due to start filming soon and, they say, will “highlight the positive aspects of the Haias work in serving society and the individual”.

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