Word: servicesal
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In 1998, John Bissell died, leaving his then 31-year-old son with a daunting choice. William could let the company coast (the export business was doing well, but handweaving limited the volumes that Fabindia could trade in). Or he could begin selling cheaper, machine-produced cloth, discarding his father...
Some of his proposals seem far to the left of his peers - like setting up a sort of sovereign wealth fund that would use the income from natural resources to fund basic services - but others are refreshingly pragmatic, like a suggestion to measure poverty not by income but by access...
Other countries in the gulf are spinning the same line: cherry-picking the best of Dubai while avoiding the worst. Saudi Arabia, the region's behemoth, has ambitious plans for new development, and Riyadh, its capital and biggest city, is bound to host the central bank for a proposed future...
Kuwait may be less conservative than Saudi Arabia, but its ban on alcohol is also a major stumbling block to becoming a tourism and professional services hub. Bahrain - another of Dubai's challengers in financial services - has a thriving banking industry and the most ethnically and religiously diverse local population...
India's burgeoning middle class has responded with cheerful readiness, spending freely on personal products and services - an industry that McKinsey forecasts will grow 9% annually over the next 15 years. Habib claims his empire grew 1,000% last year. There are now 155 Jawed Habib salons and 42 training...