Word: arabism
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...fled to Syria, where he was arrested for entering the country illegally. For two months, his Syrian jailors beat him every day, he said, before releasing him to go to Lebanon."Where will I go now?" he asks. He can't return to Sudan, where he fears Arab militias will kill him, and he says he won't go to Syria because he fears being arrested and beaten again...
Another family firm exploiting a more favorable business climate is Nadim. Once a maker of traditional furniture for Arab oil sheiks, it is becoming a producer of modern designs for trendy European and American boutiques. CEO Adham Nadim is spearheading a strategic partnership with the government to boost Egypt's furniture exports from $200 million to $1 billion by 2010. The government lured Helmy Abouleish from his job running Sekem Group, an organic-food exporter, to head the government's Industrial Modernization Center. "Globalization is coming, whether we like it or not," says Abouleish. "Can we survive five...
Over the past three years, Emaar Properties, an outfit in the United Arab Emirates, has become one of the world's leading real estate developers. Emaar was founded in 1997 by ruler Sheik Mohammed bin Rashid al-Maktoum to lead the Dubai construction boom. The 70/30 business-government partnership, run by chairman Mohammed Ali Alabbar, started taking its expertise on the road in 2002, achieving a market cap worth $20 billion. Currently, in addition to constructing Burj Dubai, touted as the world's tallest skyscraper, Alabbar is busy with undertakings from hotels in Miami to a convention center in Hyderabad...
Some of Emaar's success is explained by the nearly 300% rise in oil prices since 1997, which is pumping vast sums of unexpected new revenue into Arab investments. But much of it is also due to the savvy of executives like Alabbar, who can put Emaar's clout to advantage. "You go where your $100 million will work hardest," says Alabbar. "I'm looking at developing economies. Mature economies like those in Europe are not that exciting compared with India, which is growing at 7% or more. I'm looking eastward seriously, toward China." In July Emaar became...
...will be more Arab businesses. A milestone toward integrating the 300 million Arabs living between Morocco and Bahrain was achieved in January when Arab states signed a Middle East free-trade agreement that had been in the works for decades. Some countries have slashed tariffs to zero under the pact. Already, according to Egypt's Trade Ministry, inter-Arab trade rose 22% in 2005 compared with a 4% rise three years earlier. Last month an Arab trade-ministers meeting in Cairo took up the technical yet crucial issue of adopting common product standards. "There is a reshaping of the landscape...