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In its World Economic Outlook published yesterday, the IMF cut forecasts for almost all countries in the MENA as the region is going through some geopolitical troubles or as posted by NORTH AFRIC of October 15, 2019, in its article titled ‘World Bank: Geopolitical Tensions Affect Growth in MENA in 2019.’
Economic growth in the region of North Africa and the Middle East is expected to drop to 0.6 pc in 2019 against a 1.2 pc growth posted last year, says the World Bank in its latest report.
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Matthew Hedges says: my UAE spy arrest shows universities must do more to protect academics working in the field.
Last year I was imprisoned for nearly seven months in the United Arab Emirates (UAE). I was held predominantly in solitary confinement, endured heavy interrogations, with my human rights violated on a daily basis.
From artificial intelligence to autonomous vehicles, transformative science and technology have driven impactful change across the GCC countries in recent years, a report said.
With regional governments now set to reduce oil dependency through policy and regulation change, the Industrial Revolution 4.0 and the phenomenon of the Internet of Things (IoT) is now rife among all sectors in the region, added the report from MEED, a leading business intelligence provider.
The political impasse in which Algeria has been mired for more than seven months would result in a sharp economic slowdown in the short term. This Algeria’s Political deadlock and economic breakdown that the World Bank forecasters have reached is by any means comprehensive but could be read as some sort of alert.
The institution expects non-hydrocarbon sectors, as well as all oil and gas-related activity, to run through an air hole this year; which should have some unavoidable consequences on the country’s GDP growth. In effect, in similar way to other developing countries, it is expected to come down to 1.3% in 2019 from 1.5% the previous year.
Streets demonstrations in the vast and populous countries of the MENA region’s Algiers, Khartoum, Cairo and finally, Bagdad chasing some Long-time running democratic awakening appear to be stalling. However, these capital cities of the so-called republics’ populations seem to be going through a quasi-general disenchantment with their respective establishments because of all the prospects for future development in political and security terms have become uncertain given this sudden but not surprising worsening regional situation. Like throughout all these countries, Iraq protests expose the fallacy of the country’s democracy. Technological advances in the world and their penetration in the MENA region could definitely be behind all these upheavals.
Romain Duval and Davide Furceri, authors of this article that obviously does not differentiate between oil and/or other scarce natural resource and non-exporters of the same might as well be talking about these two categories of countries. Why you might wonder. Simply because How To Reignite Growth in Emerging Market and Developing Economies as developed here, could well apply to all countries in the MENA region, perhaps not for the same reasons.
An interesting interval notably for all those industries already devoting billions of Dollars to building these E-cars, thus affecting not only the whole world’s manufacturing and energy generation industries alike but also the planet’s climate. But this obviously not happening overnight, is somehow phased as described in this article.
David Reiner, Cambridge Judge Business School and Ilkka Hannula, University of Cambridge, say that Electric cars are here – but we’ll still need fuel for a long time.
The latest political upheavals in certain countries of the MENA cannot separate from the recent developments and trends in social media usage across the region. In effect, whether it is those gigantic streets demonstrations of Algiers, Khartoum, and Cairo and more recently those in Bagdad, it is to be acknowledged that these have something to do with the ease and spread of information to and from any movement of their respective populations.
Arab Council for Housing and Construction endorsed the preparation of an Arab Strategy for Housing
and Sustainable Urban Development, whereas the League of Arab States (LAS) General Secretariat gives special
attention to developing strategies and programs of actions to achieve sustainable development in the Arab States, with the technical support of the United Nations Human Settlements Program (UN-Habitat). More recently this 36th Ministerial Council for Housing and Construction in UAE proceeded along and part of the above strategy as reported by Emirates News Agency.
Seban Scaria, ZAWYA #CONSTRUCTION of October 3rd, 2019 reported that MENA construction boom with Saudi leading and Egypt, Ethiopia shining in Africa but according to GlobalData, construction in the same region has been relatively sluggish and is forecast to grow at 3.3% in 2019, with the pace of growth then accelerating throughout the forecast period to reach 4.9% by 2022 – 2023. Whilst awaiting some more clarifications, here is Seban Scaria’s thoughts.
In the World Economic Forum’s Global Agenda, stories on Migration and Workforce and Employment abound. This one on India’s record-breaking diaspora is the latest. It is doubly interesting because of a) the significant presence of more than 8 million NRIs (non-resident Indians) in the Gulf and b) it is reflective of a mutual necessity relationship between the Gulf and India.
In 2019, remittance flows to low- and middle-income countries are expected to reach $550 billion, becoming their largest source of external financing. ‘Indians abroad sent back $80 billion, making the country the leading recipient of funds from overseas.’