Maciu Matairavula has a vision: the creation of a sea cucumber farm in a coastal village, tapping into the growing popularity of the overfished maritime creatures.
The high-tech farm is one of a raft of business proposals - from bottled spring water to luxury hotel resorts - that are currently competing for investors in his native Fiji.
Mr Matairavula, however, has never been more optimistic. The reason? The South Pacific island state recently assumed its most high-profile international position in recent history: chairman of the Group of 77 of developing nations and China.
"The G77 chairmanship is a great elevation for Fiji and marks a big paradigm shift in terms of economic recovery and international recognition," says the businessman. "The future climate is positive."
Fiji, a scattered clutch of 330 remote islands in the South Pacific, has long enjoyed a split personality reputation as a postcard-perfect tropical but troubled paradise.
The name immediately brings to mind dramatic volcanic peaks, sweeping white sands, coral islands and crystal clear waters - alongside military coups, political instability and electoral corruption.
Now, however, the island state appears to be at a crossroads.
Amid much domestic fanfare, Fiji is settling into its new role as leader of the G77, the largest intergovernmental organisation of developing countries within the United Nations.
In its new position, Fiji will be leading the charge among developing nations in its mission to eradicate poverty, improve living standards, boost economic fortunes and increase their influence on the global political stage.
It is a timely appointment for Fiji, a British colony until 1970, whose main industries are tourism and sugar. The country tends to hit international headlines for more controversial reasons, having experienced four coups since 1987.
Currently at the helm is the prime minister Commodore Josaia Voreqe "Frank" Bainimarama, who seized power in a coup in December 2006 in an alleged attempt to quell corruption. His heavy-handed military tenure has provoked a slew of international criticism, the imposition of sanctions from Australia, New Zealand and the European Union, Fiji's expulsion from the Commonwealth - and for Fijians, economic stagnation.
Last year, however, the mood changed.
Firstly, Commodore Bainamarama announced that martial law would be lifted after three years - hailed by commentators as a vital, albeit limited, step towards democracy.
The government also announced last July the establishment of a commission to create a new constitution and most critically, pledged to hold democratic elections next year.
It was amid such a climate of tentative political optimism that last September, Fiji was unveiled in New York as the 2013 successor to Algeria, the outgoing G77 leader.
Robin Nair, Fiji's ambassador to the UAE, tells The National: "Fiji is showing leadership in political, economic, trade and social issues. It is led by an extremely proactive government with new and innovative ideas of building a nation.
"Its assumption of leadership positions on the global stage is part of this agenda and also a recognition by the international community of Fiji's capacity and understanding of international affairs."
He adds: "The business community is leveraging from Fiji's greater exposure and prestige on the global and regional stage. There is now a greater awareness and interest in Fiji among the global business and investment community, with Fiji taking several leadership roles in recent years."
At first sight, Fiji's economy does appear to be slowly reaping the benefits of its new-found - albeit tentative - political stability, with growth forecast at 2 per cent this year, according to the Asian Development Bank.
Tourist arrivals are growing healthily, despite continued sanctions, with new developments including a five-star casino scheduled to open later this year.
The national carrier Air Pacific is also being rebranded as Fiji Airways complete with an expanded fleet while the nation's sugar industry, hit hard by EU sanctions, has been restructured to bolster its efforts to emerge from the doldrums.
But independent experts, however, are more cautious, with many warning that it is only if the 2014 elections proceed democratically as scheduled that sanctions will potentially be lifted - opening the floodgates for economic growth.
And more recent political events in Fiji appear to indicate that hopes of electoral democracy may still be a distant dream for the republic.
Last month, Commodore Bainamarama announced that he was abandoning plans for the constituent assembly charged with establishing the new constitution - only months after binning a draft constitution drawn up by an earlier commission.
As a result, despite domestic proclamations relating to its G77 leadership, shadows remain cast over both the political and economic future of the troubled island state, says Jon Fraenkel, the professor of comparative politics at Victoria University of Wellington, New Zealand.
"There are many people in Fiji who are opposed to the military-led government and are very critical of such appointments as they believe that it entails international recognition of a military leader who has seized control of his country by force.
"Bainamarama has so far blown his opportunity to preside over a meaningful transition to a constitutional rule and I would anticipate that his new constitution and the election process are going to come in for quite a lot of criticism.
"People had got their hopes up as a result of the constitutional review process last year but now there's a lot of despondency.
"Investment has virtually halted, partly because domestic investors are reluctant to put their money into projects, partly because of political uncertainty and also because of the bewildering flurry of decrees that keep being passed. They constantly change the rules. There's a sense of pent-up frustration within the business community."
Such concerns were echoed by Moody's, the ratings agency, in a report published this month, stating that the economic future of Fiji remained intrinsically tied to its political situation.
Christian de Guzman, the vice president and senior analyst at Sovereign Risk Group at Moody's Investors Service, says that aside from additional interest from Chinese investors, Fiji's G77 leadership is likely to have "limited" impact on investment. "We see the investment climate in Fiji as a function of the political context," he says.
"The successful restoration of electoral democracy would be positive for Fiji's relations with its neighbours, particularly Australia and New Zealand, and multilateral development partners such as the World Bank and the Asian Development Bank. In turn, these would be positive for investment and growth."
Perhaps due to its tropical paradise-style geography, there remains one robust aspect of Fiji's economy that appears immune to coups, sanctions and political intrigue: tourism.
"Tourism is having a very successful period," says Professor David Harrison, the head of the School of Tourism and Hospitality Management at the University of the South Pacific. "Last year's arrivals were well up on the year before.
"The prospects for investments look good and provided the government keeps to its promise of having elections in 2014, this should continue."
And so perhaps it is only after - or if - these elections take place democratically next year, that investments in Fiji will flourish - and Mr Matairavula will finally be able to realise his cherished dreams of opening a sea cucumber farm.
business@thenational.ae
THE BIO:
Favourite holiday destination: Thailand. I go every year and I’m obsessed with the fitness camps there.
Favourite book: Born to Run by Christopher McDougall. It’s an amazing story about barefoot running.
Favourite film: A League of their Own. I used to love watching it in my granny’s house when I was seven.
Personal motto: Believe it and you can achieve it.
End of free parking
- paid-for parking will be rolled across Abu Dhabi island on August 18
- drivers will have three working weeks leeway before fines are issued
- areas that are currently free to park - around Sheikh Zayed Bridge, Maqta Bridge, Mussaffah Bridge and the Corniche - will now require a ticket
- villa residents will need a permit to park outside their home. One vehicle is Dh800 and a second is Dh1,200.
- The penalty for failing to pay for a ticket after 10 minutes will be Dh200
- Parking on a patch of sand will incur a fine of Dh300
Safety 'top priority' for rival hyperloop company
The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.
He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.
“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.
“Only once the system has been certified and approved will it move people,” he said.
HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon.
With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.
if you go
The flights
Fly direct to Kutaisi with Flydubai from Dh925 return, including taxes. The flight takes 3.5 hours. From there, Svaneti is a four-hour drive. The driving time from Tbilisi is eight hours.
The trip
The cost of the Svaneti trip is US$2,000 (Dh7,345) for 10 days, including food, guiding, accommodation and transfers from and to Tbilisi or Kutaisi. This summer the TCT is also offering a 5-day hike in Armenia for $1,200 (Dh4,407) per person. For further information, visit www.transcaucasiantrail.org/en/hike/
The Beach Bum
Director: Harmony Korine
Stars: Matthew McConaughey, Isla Fisher, Snoop Dogg
Two stars
Tell-tale signs of burnout
- loss of confidence and appetite
- irritability and emotional outbursts
- sadness
- persistent physical ailments such as headaches, frequent infections and fatigue
- substance abuse, such as smoking or drinking more
- impaired judgement
- excessive and continuous worrying
- irregular sleep patterns
Tips to help overcome burnout
Acknowledge how you are feeling by listening to your warning signs. Set boundaries and learn to say ‘no’
Do activities that you want to do as well as things you have to do
Undertake at least 30 minutes of exercise per day. It releases an abundance of feel-good hormones
Find your form of relaxation and make time for it each day e.g. soothing music, reading or mindful meditation
Sleep and wake at the same time every day, even if your sleep pattern was disrupted. Without enough sleep condition such as stress, anxiety and depression can thrive.
BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
QUALIFYING RESULTS
1. Max Verstappen, Netherlands, Red Bull Racing Honda, 1 minute, 35.246 seconds.
2. Valtteri Bottas, Finland, Mercedes, 1:35.271.
3. Lewis Hamilton, Great Britain, Mercedes, 1:35.332.
4. Lando Norris, Great Britain, McLaren Renault, 1:35.497.
5. Alexander Albon, Thailand, Red Bull Racing Honda, 1:35.571.
6. Carlos Sainz Jr, Spain, McLaren Renault, 1:35.815.
7. Daniil Kvyat, Russia, Scuderia Toro Rosso Honda, 1:35.963.
8. Lance Stroll, Canada, Racing Point BWT Mercedes, 1:36.046.
9. Charles Leclerc, Monaco, Ferrari, 1:36.065.
10. Pierre Gasly, France, Scuderia Toro Rosso Honda, 1:36.242.
Eliminated after second session
11. Esteban Ocon, France, Renault, 1:36.359.
12. Daniel Ricciardo, Australia, Renault, 1:36.406.
13. Sebastian Vettel, Germany, Ferrari, 1:36.631.
14. Antonio Giovinazzi, Italy, Alfa Romeo Racing Ferrari, 1:38.248.
Eliminated after first session
15. Antonio Giovinazzi, Italy, Alfa Romeo Racing Ferrari, 1:37.075.
16. Kimi Raikkonen, Finland, Alfa Romeo Racing Ferrari, 1:37.555.
17. Kevin Magnussen, Denmark, Haas Ferrari, 1:37.863.
18. George Russell, Great Britain, Williams Mercedes, 1:38.045.
19. Pietro Fittipaldi, Brazil, Haas Ferrari, 1:38.173.
20. Nicholas Latifi, Canada, Williams Mercedes, 1:38.443.
UAE currency: the story behind the money in your pockets
What is a black hole?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
UAE currency: the story behind the money in your pockets
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
UAE currency: the story behind the money in your pockets
Mohammed bin Zayed Majlis
Zakat definitions
Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.
Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.
Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.
Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
Essentials
The flights
Emirates and Etihad fly direct from the UAE to Los Angeles, from Dh4,975 return, including taxes. The flight time is 16 hours. Alaska Airlines, United Airlines, Delta Air Lines, Aeromexico and Southwest all fly direct from Los Angeles to San Jose del Cabo from Dh1,243 return, including taxes. The flight time is two-and-a-half hours.
The trip
Lindblad Expeditions National Geographic’s eight-day Whales Wilderness itinerary costs from US$6,190 (Dh22,736) per person, twin share, including meals, accommodation and excursions, with departures in March and April 2018.
Sanju
Produced: Vidhu Vinod Chopra, Rajkumar Hirani
Director: Rajkumar Hirani
Cast: Ranbir Kapoor, Vicky Kaushal, Paresh Rawal, Anushka Sharma, Manish’s Koirala, Dia Mirza, Sonam Kapoor, Jim Sarbh, Boman Irani
Rating: 3.5 stars
TOUCH RULES
Touch is derived from rugby league. Teams consist of up to 14 players with a maximum of six on the field at any time.
Teams can make as many substitutions as they want during the 40 minute matches.
Similar to rugby league, the attacking team has six attempts - or touches - before possession changes over.
A touch is any contact between the player with the ball and a defender, and must be with minimum force.
After a touch the player performs a “roll-ball” - similar to the play-the-ball in league - stepping over or rolling the ball between the feet.
At the roll-ball, the defenders have to retreat a minimum of five metres.
A touchdown is scored when an attacking player places the ball on or over the score-line.
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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More coverage from the Future Forum
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
The biog
Birthday: February 22, 1956
Born: Madahha near Chittagong, Bangladesh
Arrived in UAE: 1978
Exercise: At least one hour a day on the Corniche, from 5.30-6am and 7pm to 8pm.
Favourite place in Abu Dhabi? “Everywhere. Wherever you go, you can relax.”
