Subtle changes for Harrods under Qatari ownership include a new Qatar Airways sales counter, above. Stephen Lock for The National
Subtle changes for Harrods under Qatari ownership include a new Qatar Airways sales counter, above. Stephen Lock for The National
Subtle changes for Harrods under Qatari ownership include a new Qatar Airways sales counter, above. Stephen Lock for The National
Subtle changes for Harrods under Qatari ownership include a new Qatar Airways sales counter, above. Stephen Lock for The National

Qatar passion and funds make a mark on London


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  • Arabic

It is 5pm on a hot Friday afternoon in London's swanky Knightsbridge, and Harrods is mobbed.

It's shoulder-to-shoulder in the "top people's store" as shoppers cram in, moving past the green-liveried doorman, and through to the delights of the best-known department store in Britain, perhaps in the world.

They linger in the food halls for a while, maybe buy a tin or two of some Harrods-branded item like English tea or strawberry jam, and then head through to ogle the fine jewellery and watches.

Up the Egyptian escalators they stream, clutching the store's renowned green and gold bag with a few souvenirs inside, to stare at fur coats, lingerie and designer couture at eye-watering prices, before heading back out of the store and on to their tour buses.

Another box has been ticked on the great tour of London.

Harrods is still a must-see in the British capital, like Big Ben, the Tower of London and Buckingham Palace.

The shop attracts some 40,000 visitors daily, and it's testimony to Harrods' enduring brand, and the shrewd management of its still relatively new Qatari owners, that itremains such a popular destination.

Ownership by Middle East investors is nothing new for Harrods, but in the three years since it was acquired from the eccentric Egyptian Mohamed Al Fayed by Qatar Holding for £1.5 billion (Dh8.47bn at current conversion rates), there has been a quiet revolution in the way the store is managed.

Katharine Witty, the group director of corporate affairs, reels out the figures: in the year to January 31, 2012, some £107.8 million was invested by Qatar in the store, its supply chain in the United Kingdom and its airport outlets.

In the same period, revenue rose 11 per cent, nearly three times the average increase in the UK department store sector; this year's figures are still being worked on, but Ms Witty confidently predicts "another year of double-digit growth".

New escalators have been installed, new franchises opened. Big Shoe Heaven, the biggest women's shoe shop in Europe, will open soon. New restaurants and cafes come and go. The latest, Ladurée, a macaroon and coffee shop in Louis Quatorze style, is doing good business.

There are a couple of obvious signs of the new owners. Qatar Airways has opened a ticket office in the store; and an Arabic- themed cafe and patisserie, In-Q has opened on the second floor, apparently at the expense of floor space at Harrods' famous but now slimmed-down bookshop.

"We'd like to think we can offer Qataris a home from home. We're seeing a lot more visitors from Qatar and the rest of the Middle East, even though we haven't done much marketing there. We already have very good relations with the Middle East," says Ms Witty.

More Arabic-speaking staff have been hired recently to deal with the increasing numbers of visitors from the region. In the weeks ahead of Ramadan, Arabian Gulf numbers rose significantly.

The owners are "very much involved" in the running of the business, says Ms Witty.

"They bought a brand they feel passionate about, and there are plans to expand it.

"A Harrods hotel will open in Kuala Lumpur, and other possible sites around the world. London and the UK is a possibility, but we haven't identified any sites in Britain yet,"she says.

There are no plans for a full-blown store to open in Qatar, though there is a branded concession at Doha airport.

The Harrods chairman and chief executive Ahmad Al Sayed is said to play a "major role" in business strategy at the store. He was recently made chief executive of the Qatar Investment Authority amid extensive government changes in Doha, but there has been "no change" in the way Harrods is run, says Ms Witty.

With the increase in the number of tourists visiting the store, there was speculation that the numbers of traditional Harrods shoppers - wealthy British people based in the super-prime residential areas of west London - might be falling off. Ms Witty insists that a majority of shoppers are still what she calls "locals", but admits the foreign visitor numbers are rising.

And despite the large number of backpackers in shorts this particular day, content to walk away with a small-ticket item in that renowned plastic bag, there was plenty of evidence that Harrods is still catering for its core market of high net worth individuals.

In the Cartier concession in the fine watches department, the manager had just sold the most expensive piece in the shop, a gold and jewel encrusted wristwatch with a price tag of €600,000 (Dh2.9 million).

Elsewhere in the store, the punters were going for the usual range of top-notch brands: Louis Vuitton, Prada, Gucci, all with a decent Harrods markup. Accessories, handbags, jewellery and watches were all "high performing areas".

So has Harrods become just another stop on the London tourism scene? Or is it still the "top people's store"?

The strategy under the new Qatari owners suggests it will continue to be both. The store's Latin motto, after all, is: omnia, omnibus, ubique - all things, for all people, everywhere.

War

Director: Siddharth Anand

Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor

Rating: Two out of five stars 

Paris%20Agreement
%3Cp%3EArticle%2014%3C%2Fp%3E%0A%3Cp%3E1.%20%5BThe%20Cop%5D%20shall%20periodically%20take%20stock%20of%20the%20implementation%20of%20this%20Agreement%20to%20assess%20the%20collective%20progress%20towards%20achieving%20the%20purpose%20of%20this%20Agreement%20and%20its%20long-term%20goals%20(referred%20to%20as%20the%20%22global%20stocktake%22)%3C%2Fp%3E%0A%3Cp%3E2.%20%5BThe%20Cop%5D%20shall%20undertake%20its%20first%20global%20stocktake%20in%202023%20and%20every%20five%20years%20thereafter%C2%A0%3C%2Fp%3E%0A
HEY%20MERCEDES%2C%20WHAT%20CAN%20YOU%20DO%20FOR%20ME%3F
%3Cp%3EMercedes-Benz's%20MBUX%20digital%20voice%20assistant%2C%20Hey%20Mercedes%2C%20allows%20users%20to%20set%20up%20commands%20for%3A%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Navigation%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Calls%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20In-car%20climate%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Ambient%20lighting%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Media%20controls%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Driver%20assistance%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20General%20inquiries%20such%20as%20motor%20data%2C%20fuel%20consumption%20and%20next%20service%20schedule%2C%20and%20even%20funny%20questions%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EThere's%20also%20a%20hidden%20feature%3A%3C%2Fstrong%3E%20pressing%20and%20holding%20the%20voice%20command%20button%20on%20the%20steering%20wheel%20activates%20the%20voice%20assistant%20on%20a%20connected%20smartphone%20%E2%80%93%20Siri%20on%20Apple's%20iOS%20or%20Google%20Assistant%20on%20Android%20%E2%80%93%20enabling%20a%20user%20to%20command%20the%20car%20even%20without%20Apple%20CarPlay%20or%20Android%20Auto%3C%2Fp%3E%0A
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%3Cp%3ENon-oil%20trade%20between%20the%20UAE%20and%20Japan%20grew%20by%2034%20per%20cent%20over%20the%20past%20two%20years%2C%20according%20to%20data%20from%20the%20Federal%20Competitiveness%20and%20Statistics%20Centre.%C2%A0%3C%2Fp%3E%0A%3Cp%3EIn%2010%20years%2C%20it%20has%20reached%20a%20total%20of%20Dh524.4%20billion.%C2%A0%3C%2Fp%3E%0A%3Cp%3ECars%20topped%20the%20list%20of%20the%20top%20five%20commodities%20re-exported%20to%20Japan%20in%202022%2C%20with%20a%20value%20of%20Dh1.3%20billion.%C2%A0%3C%2Fp%3E%0A%3Cp%3EJewellery%20and%20ornaments%20amounted%20to%20Dh150%20million%20while%20precious%20metal%20scraps%20amounted%20to%20Dh105%20million.%C2%A0%3C%2Fp%3E%0A%3Cp%3ERaw%20aluminium%20was%20ranked%20first%20among%20the%20top%20five%20commodities%20exported%20to%20Japan.%C2%A0%3C%2Fp%3E%0A%3Cp%3ETop%20of%20the%20list%20of%20commodities%20imported%20from%20Japan%20in%202022%20was%20cars%2C%20with%20a%20value%20of%20Dh20.08%20billion.%3C%2Fp%3E%0A
The specs: 2018 BMW R nineT Scrambler

Price, base / as tested Dh57,000

Engine 1,170cc air/oil-cooled flat twin four-stroke engine

Transmission Six-speed gearbox

Power 110hp) @ 7,750rpm

Torque 116Nm @ 6,000rpm

Fuel economy, combined 5.3L / 100km

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

Retail gloom

Online grocer Ocado revealed retail sales fell 5.7 per cen in its first quarter as customers switched back to pre-pandemic shopping patterns.

It was a tough comparison from a year earlier, when the UK was in lockdown, but on a two-year basis its retail division, a joint venture with Marks&Spencer, rose 31.7 per cent over the quarter.

The group added that a 15 per cent drop in customer basket size offset an 11.6. per cent rise in the number of customer transactions.

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

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COMPANY PROFILE

Company name: Letstango.com

Started: June 2013

Founder: Alex Tchablakian

Based: Dubai

Industry: e-commerce

Initial investment: Dh10 million

Investors: Self-funded

Total customers: 300,000 unique customers every month

'Top Gun: Maverick'

Rating: 4/5

 

Directed by: Joseph Kosinski

 

Starring: Tom Cruise, Val Kilmer, Jennifer Connelly, Jon Hamm, Miles Teller, Glen Powell, Ed Harris

 
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.

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Most F1 world titles

7 — Michael Schumacher (1994, ’95, 2000, ’01 ’02, ’03, ’04)

7 — Lewis Hamilton (2008, ’14,’15, ’17, ’18, ’19, ’20)

5 — Juan Manuel Fangio (1951, ’54, ’55, ’56, ’57)

4 — Alain Prost (1985, ’86, ’89, ’93)

4 — Sebastian Vettel (2010, ’11, ’12, ’13)

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

FOOTBALL TEST

Team X 1 Team Y 0

Scorers

Red card

Man of the Match

 

White hydrogen: Naturally occurring hydrogenChromite: Hard, metallic mineral containing iron oxide and chromium oxideUltramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica contentOphiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on landOlivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour

Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

if you go

The flights
The closest international airport to the TMB trail is Geneva (just over an hour’s drive from the French ski town of Chamonix where most people start and end the walk). Direct flights from the UAE to Geneva are available with Etihad and Emirates from about Dh2,790 including taxes.

The trek
The Tour du Mont Blanc takes about 10 to 14 days to complete if walked in its entirety, but by using the services of a tour operator such as Raw Travel, a shorter “highlights” version allows you to complete the best of the route in a week, from Dh6,750 per person. The trails are blocked by snow from about late October to early May. Most people walk in July and August, but be warned that trails are often uncomfortably busy at this time and it can be very hot. The prime months are June and September.