In line with the vision, managing director of Khalid Almoayed and Sons wants the BCCI to help create a favourable environment for the entire business community, which includes foreign investors.

Mr Almoayed said that some of the laws and procedures pertaining to foreign investors needed to be reconsidered and the BCCI had to play an active role in having them addressed.

He said that foreign investors were not allowed to buy property or sponsor their children past 18 or even remain in the country past the age of 60.

"According to the vision we should be an ambitious multicultural society but how can we achieve this when we are kicking people out of the country at the age of 60," Mr Almoayed told the GDN.

"This means for the last 15 years of your life you can't spend it in the country you have lived and worked all of your life.

"A guy can come to Bahrain and invest millions of dinars but when that individual goes to the Labour Market Regulatory Authority (LMRA) to renew his visa he is treated like a labourer.

"How is it that you can be brought up in Bahrain but between the ages of 18 and 21 you can't stay here because you can't work and you aren't a high school student?

"With all this, how will you encourage experts and specialists to the country?"

"The vision is fantastic but we need to keep up with it."

Mr Almoayed said he wanted the chamber to be a body that thoroughly studied new regulations and laws before giving its recommendations.

In the case of the labour reforms, he believes the chamber should have studied the plans in more detail before giving its approval.

"I would like to help the chamber know where it is headed," he said.

"People in the chamber need to be qualified, it is not a popularity contest and this is why I wanted to run as an independent.

"I want to bring back the fire and enthusiasm and I would like more young business people to come in."

Mr Almoayed has been a member of various BCCI committees, including the young business and IT committees, and is the chairman of the Association of Bahrain Travel and Tour Agents.

He can be contacted on s@pobox.com.

Supporting and advancing SMEs is also a priority of BCCI candidate and Gulf Global Economic Consultancy chairman Dr Hussain Al Mahdi.

If elected he intends for the BCCI to work together with the entire business community and micro and small and medium companies specifically.

"The aim should be to utilise all resources available towards diversifying the country's income away from oil and gas, concentrating on industry, banking and finance, knowledge based economy, human resources, training and education and the healthcare sector," he said.

"It should help emerging SMEs, especially those involving women and youth, as well as work to attract foreign direct investment (FDIs), particularly those which add value for the economy and provide higher salaries and training development."

Dr Al Mahdi has a strong background in training and development and is the BCCI human resources development and training committee chairman and Bahrain Training Institute board member.

From this point of view he believes the BCCI should concentrate on promoting training and human resources initiatives within Vision 2030.

According to Dr Al Mahdi the BCCI should also take a more active role in national affairs directly or indirectly to cover economic, social and political sustainable development and support members of the business community in running for parliament.

Contact Dr Al Mahdi on 17233024 or email gulfgc@hotmail.com.

Running for the BCCI elections for the first time is Memo Express chief executive officer and Alqadisiya Youth Club president Fuad Hassan Abul.

If elected, Mr Abul's goal is to develop the private sector and SMEs because they represent 72 per cent of all commercial registrations and are the basic dynamo of the country, he says.

His election campaign includes creating more awareness about the role of BCCI among SMEs.

"We need to reach out to SMEs at their locations to see what are their difficulties and requirements," said Mr Abul.

"We need to have more communication with them because they often don't participate in the chamber. Further outreach of the BCCI would include having the 70-year-old chamber build strong relationships and networks with other chambers of commerce and industry in the region, said Mr Abul.

"We need to develop strong ties with other chambers in the GCC to help Bahraini industry expand in the region," he added.

To contact Mr Abul email: fuad.abul@hotmail.com.

Meanwhile, Bahraini businessman Abdulhameed Al Kooheji has called on candidates running in the BCCI elections to conform to the chamber's code of ethics.

Warning them against spreading nasty rumours, Mr Al Kooheji said elections must be viewed as a perfect model of democracy the chamber has always incarnated, reports our sister paper Akhbar Al Khaleej. becky@gdn.com.bh ]]>

The assets of the company have also grown remarkably by 24pc to BD34m compared to last year's results.

He said that despite the stiff competition in the market and the adverse effects of the global financial crisis which has impacted the financial sector, NFH achieved good results and mainly due to its continued strategy to follow conservative lending policies, while maintaining the quality of the portfolio.

He also attributed these results to the opening of a branch in Sitra earlier this year which has positively contributed to the result by providing faster services to our customers and the auto dealers.

NFH general manager Jassim Khalaf said that despite the financial crisis during the year, the company continued to achieve excellent results and succeeded in increasing its market share reaching more than 20pc by the end of the third quarter.

Moreover, NFH is now known for providing the fastest approval for loans in the kingdom by its extensive presence at car dealerships showsrooms.

Mr Khalaf also said that the company is currently finalising its strategic plan for the next three years which will include launching new services and opening new branches.

NFH is a Bahraini closed shareholding company established in 2005 and started operations late in 2006. NFH shareholders are among the largest well-known companies in the business of insurance, car dealerships, finance, investment, and industry in Bahrain and the GCC.

Its major shareholders are Bahrain National Holding Company, E.K. Kanoo, YK Almoayyed and Sons, Almutlaq Group in Saudi Arabia, Oman National Investment Corporation and Al Khaleej Insurance and Reinsurance in Qatar. ]]>

The authority said Bapco's average daily production from January to September dropped by 4.1pc to 256,000 barrels from 267,000 barrels in the same period last year.

Local daily sales rose by 0.4pc to 24,000 barrels, up from 24,648 barrels last year, Noga said.

Natural gas outpout reached 409 billion cubic feet, at a daily average of 1.497bn cubic feet, up from 1.491bn cubic feet. ]]>

Another analyst, requesting anonymity, said "the small contracts that will be made public during the show will not have an impact on stock exchanges."

At the 2007 edition of the biennial show, European manufacturer Airbus received its largest single order valued at $20 billion from Dubai's Emirates, which mainly included 70 units of the future long-haul A350.

This year, Airbus and its major rival Boeing are likely to take few if any orders.

However, Allison Weller, director of show organiser F and E Aerospace, has "expressed confidence that this event will spearhead the aerospace industry's recovery, reflecting the 'green shoots' apparent elsewhere in the world economy," the airshow's website says.

"The past year has been a difficult time for the aerospace industry worldwide, with manufacturers, suppliers and service providers facing a bleak and uncertain future," Weller was quoted as saying.

"However, with a more bullish outlook for the coming year, especially within the Middle East region, I am cautiously optimistic that the Dubai Airshow will signal a return to a healthy marketplace."

She said the industry is "now looking to the Middle East, where aerospace suppliers and service providers have managed to weather the economic maelstrom better than elsewhere."

Weller did not cite any figures, but has been quoted as saying she expects sales to beat the $155.5bn spent in 2007, claimed to be the largest amount of deals ever concluded at a single event.

This year, 900 exhibitors from 50 countries are expected to show their wares and services, compared with 850 in 2007. At the same time, organisers expect to attract around 50,000 visitors, up from 45,421 two years ago.

On the defence side, meanwhile, no significant deals are expected to be announced, despite a rich military display. ]]>

New Zealand Prime Minister John Key said he expected minor appreciation in the yuan, adding such a move would help support the global recovery.

International Monetary Fund managing director Dominique Strauss-Kahn, also in Singapore, noted that China's economic stimulus is helping to rebalance its economy towards relying more on domestic demand but it still needs to let its currency rise over time.

On Wednesday China's central bank said it will consider major currencies in guiding the yuan, suggesting a departure from an effective dollar peg that has been in place since the middle of last year.

The reference to a new set of benchmarks for determining the value of the yuan holds out the possibility of a departure from recent practice. Roach argued that an early appreciation could undermine the recovery in the export-led region given China is leading the revival.

"Their exports to China have been a critical piece to their own recovery so they have to watch out and be very careful that they don't bite the very hand that feeds them," he said.

The recovery in Asia-Pacific economies has been gathering steam, with China, South Korea, Singapore and Indonesia reporting a pick up in annual economic growth in the September quarter compared with the previous quarter. ]]>

Their campaign slogan is: connection, harmony, equality and prosperity. "We are trying to develop connections with chamber members and non-members, as well as consultative and legislative members," Mr Al A'ali told the GDN.

"We are trying to focus on enhancing the information resources for members and to develop communication through the media to keep members and non-members aware of the commerce and trade industry here.

"We want the new board to work together as one team and have one vision supporting the economy of the country and bringing more business opportunities for small and medium enterprises (SMEs)."

If elected, the businessmen intend to create an outreach programme to attract the younger generation into trade and industry.

Another goal is to ensure the BCCI plays a more proactive role with legislators in pushing forward the requirements of the private sector.

"We are carrying on the last board's assignment and mission to boost trade in Bahrain," said Mr Al A'ali.

"We are looking at attracting the younger generation into trade and support training of fresh graduates through the Labour Market Regulatory Authority (LMRA) and Tamkeen.

"We also want the LMRA to reconsider the fees it requires from SMEs."

Mr Al A'ali is a former member of the BCCI tourism committee and BCCI election committee and is a board member and former chairman of the Association of Bahrain Travel and Tour Agents.

To contact Mr Al A'ali email: malaali@batelco.com.bh and Mr Biljeek at: dawood@biljeek.com.bh. ]]>

"Overall, the economic growth is expected to be in the range of 6-7pc in 2009/10, despite the setback due to a poor monsoon," Mukherjee said.

The growth rate in Asia's third largest economy fell to 5.8pc in each of the December and March quarters as the global slowdown trimmed factory output and slashed exports.

The Indian economy grew 6.7pc in 2008/09 (April-March), slowing from 9pc or more in the previous three years.

"The effort now is to bring the economy back on the growth path of 9pc per annum," he said.

The government had cut duties twice since December and stepped up public spending, while the central bank slashed its policy interest rate by 425 basis points between October and April, and pumped in extra cash to stimulate a slowing economy.

Just as the economy was turning a corner in the June quarter, the worst dry spell in nearly four decades was followed by floods which trimmed farm output and cast a shadow over a faster recovery.

Faster factory output and accelerating inflation have added to the debate over when the government and central bank should pull back from its aggressive policies to drive growth.

National Institute of Public Finance and Policy economist N R Bhanumurthy said he expects inflation at 7.8pc by end of March next year, higher than a central bank forecast of 6.5pc.

"Monetary tightening will be conditional on robust recovery especially in industrial output. If there is a strong recovery and inflation is also high, monetary tightening could happen between end of January and April," he said. ]]>

It covers key development projects including building more cabins, lanes and sunshades in addition to upgrading the causeway towers, restaurants, toilets, mosques and recreational areas, reports our sister paper Akhbar Al Khaleej. ]]>

Tony Tan, deputy chairman of the Government of Singapore Investment Corporation, said the biggest danger facing the world economy in coming years is protectionist sentiment, which may be stoked by high unemployment rates.

Tan, speaking at a business forum on the sidelines of an Asia-Pacific summit, said protectionism could spread from the trade arena to financial markets.

"This could manifest itself in the form of protectionist measures not only in world trade but also in financial markets and impede the free flow of funds," he said.

Jin Liqun, from the China Investment Corporation, also cautioned against barring investments from government-owned funds.

"The sovereign wealth funds will be playing a big role in rebalancing the process but we need cooperation from the recipient countries," said Jin, CIC's chairman of the board of supervisors. New growth strategy - Page 23 ]]>

The strategy calls for America to save more, spend less, reform its financial system and cut its deficits and borrowing.

"It will also mean a greater emphasis on exports that we can build, produce, and sell all over the world," Obama said.

"We simply cannot return to the same cycles of boom and bust that led us into a global recession."

Fresh government figures on the US trade deficit, which ballooned by more than 18 per cent to $36.5 billion in September, could add urgency to Obama's efforts to seek greater export opportunities in China and other Asian countries.

Leaders of Apec, a 21-member grouping accounting for more than half of all global output and 40pc of world trade, began their two-day summit yesterday before Obama arrived and resolved to exert more political will to jump-start the Doha round of global talks, a Press release after the meeting said.

They also "reiterated their commitment to reject all forms of protectionism", the release said.

Calling himself "America's first Pacific President", the Hawaii-born Obama signalled in Tokyo a commitment to the region, but with no specifics on how to re-invigorate his trade agenda.

Although Obama proclaimed his faith in open markets, the sniping of regional leaders ahead of his arrival underlined the challenge he faces to convince them it's more than lip service.

After taking office in January, the US president focused first on a huge stimulus to the economy and then on a domestic agenda that so far has included little attention to trade.

No end is in sight for the Doha trade round, now eight years old, despite pledges by Obama and others to get a deal by next year. ]]>