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The Dubai International Financial Centre (DIFC) is a global financial centre strategically located between the East and West, providing a stable and secure platform for businesses and financial institutions to tap into the emerging markets of the Middle East, Africa...read more
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Is happiness the emotional ingredient lacking the most in the MENA countries? Or would as acknowledged by many, unhappiness be recognized as one of the main factors that cause emotional volatility in the MENA region whether in past or recent years? As for the 2 other ingredients as asserted in “emotional intelligence is key in the digital age”, the proposed article written by Mushtak Al-Atabi, of Heriot-Watt University studying the effects of the on-going technological advances on happiness generally, sounds quite affirmative. Would emotional intelligence being the key ingredient of happiness all over the world be adopted and be the same for all regions of the MENA?read more
The present contribution is about the Financial Constraints and Governance crisis in Algeria of 2017 – 2020 and would want to be a reminder of those economic and financial indicators of the influencing factors to be considered whilst taking steps towards structural reforms. These number 8 and are as follows:
1.-The International Monetary Fund (IMF) is concerned as much as are the European Union (EU) and all foreign economic partners, about the impact of recent measures of unconventional financing. Algeria would have a real GDP growth rate that is below 1.5% for 2017 and 0.8% for 2018 whilst the International Energy Agency (IEA) does not expect a substantial increase in oil prices in 2018, but at best their stabilization . . . .
The global economic recovery that has started mid-2016 is gaining momentum with growth accelerating according to a report by the International Monetary Fund (IMF) published with however a warning that this 2017 global recovery is incomplete with MENA’s share modest.
Growth in the MENA countries dropped from 5.1% to 2.2% so far in 2017 but is anticipated to get back to 3.2% in 2018.
Political unrest was found to be still hampering and / or delaying economic recovery generally, but more specifically in the MENA region where different tensions subsist in several of its countries.
Nevertheless, Djibouti has the highest growth in 2017 with 7%, followed in this order by Morocco, Egypt, Mauritania, and Sudan and Kuwait.
Yemen, Syria, Iraq would obviously be going through recession because of either their on-going political tension or unrest. The effect of oil prices’ drop would be affecting all hydrocarbons exports related economies of the Gulf and North Africa with budgetary restrictions. With money oversupply in these latter countries, inflation is bound to reach unforeseen heights but is nonetheless forecast to generally reach an estimated 7.1%.
This policy of questioning agreements to which America had subscribed is leading to discomfort and even outright opposition not only in the whole of the US political class but above all within the international community. In this environment of disengagement that the American president is initiating or proceeding with, waves of messages are fluttering out of the White House. These could mean that America is in “inward” contemplation; attitude that could potentially weaken its credibility at the international level. The paroxysm could be reached by Trump mulling decertification of the Iran deal. Also many are wondering why it matters now and to whom it does matter the most.
As a matter of fact, since the United States are led by Donald Trump they have left, or threaten to do so, international agreements that his predecessor Barack Obama and his administration have negotiated and signed on their behalf. They withdrew from the Trans-Pacific Partnership (TPP), a free-trade agreement across the Pacific, the Paris agreement on climate, NAFTA, the free trade and lastly the UNESCO, a UN Organization, because according to the White House it would be “anti-Israel”.
Since the advent of oil and its extensive worldwide commercialisation, the MENA region spearheaded by its petrol based countries have risen to global attention mainly because of their accumulation of wealth but sadly because also of the socio-political unrests that sporadically erupt here or there as the case may be. Meanwhile, notion such as “Islamic Finance” came to mute from niche to mainstream and despite any harmonisation in cross border activities between neighbouring countries, many believe the way forward would be for all financial institutions to get together and coordinate their movements. The question would then be how could this be a reality without any political will? The situation prevalent in many areas of the MENA countries would not be in favour. The Gulf crisis, the Maghreb standstill situation, the Mashrek’s unresolved multiple situation, etc. Life carrying on regardless, the banks of the Arab worldread more
Tesla 3 is being marketed worldwide as the model that will per The Guardian finally make electric cars “mainstream”. But more recently, Tesla drew the global media’s attention to the UAE, a region well known to be reliant on anything to do with fossil fuel, in a similar attempt that is to sell electric cars to the local gas guzzling four-wheel drive crazy cars owners. Would they buy it? The answer could partly be found in this article written by Matthew Watkins, Nottingham Trent University on the current trend that concludes by the internal combustion engine is dead, long live the electric car. Cheers.read more