Latest news with #Economic
Arabian Post
9 hours ago
- Business
- Arabian Post
UAE Secures Tenth Spot in World FDI Rankings
The United Arab Emirates drew AED 167.6 billion in foreign direct investment in 2024, climbing to tenth position globally, according to the UN Conference on Trade and Development's World Investment Report 2025. This 48.7 percent surge from 2023 cements the UAE as a top-tier destination for international capital, with greenfield projects playing a central role. Foreign investors backed 1,369 new greenfield ventures worth AED 53.3 billion, placing the UAE second globally in announced projects, trailing only the United States. Remarkably, nearly 37 percent of total FDI into the Middle East went to the UAE. Sheikh Mohammed bin Rashid Al Maktoum described the achievement as 'an international vote of confidence in the UAE's economy', adding that AED 37 of every AED 100 invested in the region now enters the UAE. He attributed the growth to a unified national development agenda under President Sheikh Mohamed bin Zayed Al Nahyan, underpinned by strategic policy clarity and government cohesion. ADVERTISEMENT The UAE's cumulative FDI stock has reached AED 994.9 billion, reflecting a compound annual growth rate of 10.5 percent since 2015. This growth trajectory builds on a decade-long expansion, with inflows growing from AED 31.6 billion in 2015 to AED 167.6 billion in 2024. A diverse range of sectors attracted foreign capital. Software and IT services projects led greenfield values with 11.5 percent, followed by business services, renewable energy, oil and gas, and real estate. Energy-specific inflows to renewable initiatives reached AED 4.8 billion, helping drive a national target to triple clean-energy capacity by 2030. The Ministry of Investment, established in 2023 with Mohamed Hassan Al Suwaidi as minister, was credited with orchestrating this outcome through regulatory reforms and global outreach. Under its stewardship, clear legislation and incentives—including full foreign-ownership rights, a standard corporate tax of 9 percent, and streamlined licensing—have enhanced the investment environment. Global rankings reflect these advances: the UAE placed fifth in the 2024 Global Talent Competitiveness Index and third in the 2024 Stanford AI Index for AI talent attraction. The nation has also forged 21 Comprehensive Economic Partnership Agreements and 120 bilateral investment treaties, further easing entry for international investors. National strategy for the next decade envisions doubling cumulative FDI to AED 1.3 trillion by 2031, aligned with the National Investment Strategy 2031 which prioritises sustainable growth through sector diversification. Initiatives focus on attracting innovation and green investments while scaling existing operations. Despite a global slowdown in productive FDI—with global flows down 11 percent adjusted for conduit economies—the UAE has charted a positive 2.8 percent rise in greenfield projects, underscoring its resilience. Legal insight from White & Case points to ongoing sector-specific reforms that will deepen the FDI ecosystem, including possible relaxation of onshore investment restrictions and expansion of free zone offerings.
Morocco World
a day ago
- Politics
- Morocco World
Morocco Marks the 55th Birthday of Prince Moulay Rachid
Rabat – On Friday, the Moroccan Royal Family and the Moroccan people will joyfully commemorate the 55th birthday of Prince Moulay Rachid, an occasion that unites the nation in celebration and sincere well wishes for King Mohammed VI, Crown Prince Moulay El Hassan, Prince Moulay Rachid, and the entire royal family. Born on June 20, 1970, in Rabat, Prince Moulay Rachid pursued his academic path with distinction. In May 1993, he earned a degree in public law with a specialization in internal administration, along with a diploma in comparative law from the Faculty of Legal, Economic, and Social Sciences in Rabat, both with honors. Three years later, in June 1996, he obtained his second graduate degree in international relations with high distinction. On May 18, 2001, he earned a PhD in law from the University of Bordeaux, receiving the highest honors and a special commendation for publication for his dissertation titled 'The Organization of the Islamic Conference: A Study of a Specialized International Institution'. Prince Moulay Rachid has long shown a deep commitment to cultural, social, and sporting life in Morocco. Since April 1997, he has presided over the Royal Moroccan Shooting Federation, and in 2018, he took the helm of the Royal Moroccan Golf Federation. He also leads the Hassan II Golf Trophy Association and the Marrakech International Film Festival Foundation. Over the years, he has represented the King at key national and international events and chaired major cultural and sporting ceremonies. Recently, on June 17, he chaired the extraordinary general assembly of the Royal Moroccan Golf Federation. In April, he inaugurated the 30th edition of the International Book and Publishing Fair in Rabat and visited the Mausoleum of Moulay Idriss II in Fez during a traditional ceremony for the royal family's youngest members. Earlier this year, in February, Prince Moulay Rachid presided over a royal dinner at the Chellah archaeological site and later awarded the winners of the Hassan II Golf Trophy and the Lalla Meryem Cup. In December 2024, he represented the King at the reopening of Notre-Dame Cathedral in Paris and attended a state dinner hosted by French President Emmanuel Macron. In November, he presided over the royal dinner at the official opening of the Marrakech International Film Festival. A few weeks prior, he joined the royal family in welcoming President Macron to Morocco and attended the signing of major bilateral agreements. The celebration of Prince Moulay Rachid's 55th birthday is a moment of national unity and heartfelt allegiance to the monarchy an enduring expression of Morocco's loyalty and shared joy. Tags: BirthdayMoroccan Royal FamilyPrince Moulay Rachid
Sharjah 24
a day ago
- Business
- Sharjah 24
Sharjah Public Finance Award hosts Public Debt Management Forum
The forum, titled "Managing Public Debt in a Changing World – Sustainable Strategies to Address Global Economic Challenges," aimed to exchange knowledge, experiences, and best practices in the field of public finance among participating countries. This initiative seeks to strengthen the ability of these nations to tackle contemporary financial challenges. The forum featured a distinguished group of experts and officials who discussed the latest trends in public finance and highlighted government success stories in managing public debt, thereby fostering collaboration among nations to overcome financial challenges and enhance government financial performance. The event was attended by His Excellency Waleed Al Sayegh, Director General of Sharjah Finance Department (SFD) and Member of the Board of Trustees; His Excellency Sheikh Rashid bin Saqr Al Qasimi, Secretary-General of the Award and Director of the Sharjah Finance Department; His Excellency Dr Nasser Al-Hatlan Al-Qahtani, Director General of the Arab Organisation for Administrative Development – League of Arab States, alongside ministers, government officials, and numerous speakers and participants from Turkey, the host country, as well as representatives from ministries of finance, public debt departments, banks, financial organizations, and international experts from Arab and other countries involved in the forum and the award. A platform for excellence In his keynote address, His Excellency Sheikh Rashid bin Saqr Al Qasimi, Secretary-General of the Award and Director of the Sharjah Finance Department, emphasized the importance of fostering Arab cooperation in public finance in light of the increasing global economic challenges. He stated that the forum served as an ideal platform for exchanging knowledge and best practices between Arab nations and sharing success stories in managing public debt and achieving financial leadership. His Excellency expressed his delight at the forum's success, noting that reviewing government success stories in managing public debt reflects the commitment to developing government financial performance and adapting to rapid economic changes. This contributes to enhancing transparency and efficiency in managing financial resources. He added, 'The Sharjah Public Finance Award, by recognizing distinguished efforts, represents an incentive for governmental bodies and individuals in the Arab world to achieve the highest standards of excellence in public finance, aligning with the sustainable development goals and developing financial strategies.' He also highlighted that the award provides an opportunity to honor efforts that elevate government financial work and promote higher levels of transparency and professionalism. The award will inspire both individuals and institutions in the UAE and the Arab world to achieve greater success and excellence in public finance, contributing to comprehensive development and economic prosperity. Furthermore, it will encourage many countries participating in the forum to strive for excellence in their financial institutions, fostering sustainable development goals and innovative solutions to tackle public debt challenges in an evolving global environment. Strengthening cooperation for a sustainable financial future His Excellency Dr Nasser Al Hatlan Al Qahtani, Director General of ARADO and Vice Chairman of the Board of Trustees, emphasized that the forum addresses multiple economic challenges faced by countries, especially those in need of continuous support. He noted that the Sharjah Public Finance Award and its partnership with the Arab Organization for Administrative Development exemplifies a model for achieving excellence in public finance to confront these challenges. The forum aims to improve government financial performance and support national economies through a financial environment characterized by efficiency and sustainability. Dr Al-Hatlan Al-Qahtani expressed, 'We look forward to continuing this forum as a platform for encouraging innovation and excellence in public finance and strengthening financial cooperation between Arab countries and participating nations. This collaboration will help realize the financial aspirations of governments and their developmental goals.' He also explained the organization's role in managing various Arab awards and its capacity-building and developmental role in organizing events and activities that contribute to enhancing government work across Arab countries. Dr Al-Hatlan affirmed that these financial events will continue on the sidelines of the Award, stimulating participants to contribute positively to developing government financial work in the Arab world. Forum sessions The forum's activities began with an introduction to the Sharjah Public Finance Award and opening remarks. This was followed by the forum's main session, which featured speeches by His Excellency Yasser Sobhi, Deputy Minister of Finance of Egypt; His Excellency Dr Mahmoud Mohieddin, Special Envoy of the UN on Financing the 2030 Agenda for Sustainable Development; His Excellency Dr Mohamed Maait, Executive Director and Representative of the Arab and Maldives Group at the IMF; and Dr Abdullah Khaled bin Rabian, Financial and Economic Consultant from Saudi Arabia. The speakers discussed advanced strategies for managing public debt and the factors impacting sustainability in light of the changing economic landscape, offering practical solutions for successful public debt management. The session was moderated by Dr Nasser Al-Hatlan Al-Qahtani. The forum's program also featured discussions on successful public debt management projects by some Arab governments and Sharjah, along with dealing with the economic challenges of the Organisation of Islamic Cooperation (OIC) member states. Several key topics were covered, addressing challenges related to geopolitical shifts, the return of nationalism, trade wars, inflation, and chronic debt. A number of experts, specialists, and researchers presented papers on public debt management and public finance, and Dr Hassan Diab delivered the forum's concluding statement.
Morocco World
2 days ago
- Business
- Morocco World
Remote, App-Based Work is Rising in Morocco, But Workers Lack Legal Protection
Rabat – Morocco's job market is rapidly changing, with more people working remotely or through apps like delivery and ride-hailing services. A new report from the Economic, Social, and Environmental Council (ESEC) says that while these new types of work offer flexibility and opportunities, many workers are not protected by labor laws. Workers involved in similar app-based employment often lack health insurance, retirement benefits, and job security, said the report as it raised serious concerns about their rights and future. Morocco's job market is undergoing major changes due to digital technology and artificial intelligence, the council said, adding that these changes became even more common after the COVID-19 pandemic. The situation creates new ways of working, such as remote jobs, short-term work, and jobs through digital platforms. Many jobs today are no longer tied to traditional office spaces or fixed hours, the report added, citing jobs like food and parcel delivery through apps, ride-hailing services, online content creation, translation, software development, design, and consulting services. Some people also work only part-time, sometimes for different employers at the same time, or while studying or managing family responsibilities. These new forms of work offer several advantages, as they give employers more flexibility in organizing work and finding talent from different regions and backgrounds. They can also reduce costs, increase productivity, improve service quality, and help create jobs. The report found that the flexibility allows workers to better balance their professional and personal lives. It can also help women, people with disabilities, and older people to find jobs that suit their needs and situations. Remote work also reduces traffic, lowers pressure on public transport, and supports energy efficiency. Legal and social challenges Despite these benefits, the council warned of serious risks facing many of these workers, including the lack of clear legal regulations. Many people in these new jobs are not covered by labor laws or protected by contracts. The report outlined other challenges, such as low and unstable incomes, lack of health insurance and retirement plans, as well as lack of compensation if they lose their job or suffer from work-related illnesses. Some also struggle to separate work from personal time, or to protect their personal data, added the report. Another concern is the difficulty of joining trade unions or taking part in workplace discussions and decisions. These workers often do not enjoy basic rights guaranteed to others in regular jobs, according to the council. It explained that Morocco's current legal system does not reflect the special nature of these new jobs. Many of them rely heavily on digital tools and offer a wide range of flexibility, but laws still focus on old models of full-time, on-site work. Because of this gap, many workers in these growing sectors do not have access to social protection systems like family allowances, unemployment benefits, or retirement pensions. The council's report called on decision makers to put in place new legal and social frameworks to protect workers in the modern job market. Tags: app workEmploymentremote work
The Citizen
3 days ago
- Politics
- The Citizen
Rethinking conflict on the African battlefield
As wars escalate and peace efforts flounder, Eeben Barlow's innovative military strategy speaks directly to Africa's realities and its need for self-driven solutions. Africa is the most conflict-prone continent in the world. From the civil war raging in Sudan to the killing fields of the eastern Democratic Republic of the Congo (DRC) and the terrorist hotbeds from the Sahel in the west to Somalia in the east and Mozambique in the south – violence plagues Africa's citizens and governments. What is clear from these escalatory spirals of carnage is that existing responses – both African and foreign – are simply not working. The African Union's much-vaunted African Security Architecture built on the effective functioning of Regional Economic Communities' acting as first responders to trouble in their region has been a dismal failure. We are witnessing the unravelling of the Economic Community of West Africa States as former members of the bloc have withdrawn to form their own Alliance of Sahel States bloc. Meanwhile, the Southern African Development Community (SADC) has failed dismally in its interventions in both Mozambique and the DRC. Similarly, failure has bedevilled the plethora of foreign interventions from multiple external actors – including the French, Russians, Türkiye, the US, China, the various Gulf States and the United Nations. ALSO READ: China's clever trade deal with Africa – removal of tariffs on most goods Indeed, based on the magnifying conflict trajectories one could well argue that the situation is far worse now than before the intervention began. This failure could well be the result of donor-driven agendas at military transformation and the instilling of a military doctrine which scarcely speaks to the uniqueness of the African battlefield. Often, American and European military training programmes seek to create clones of their armed forces on a continent with a different political and economic reality and a hugely disparate military culture. It is in this context that General Eeben Barlow sets out his highly innovative approach to conflict – and especially that plaguing the continent in the form of asymmetric warfare. He details his theories and practice in his book, Composite Warfare: The Conduct of Successful Ground Force Operations in Africa. His approach has been informed by his 40 years experience as a front-line officer and CEO of the most successful private military company in the world – Executive Outcomes. ALSO READ: Google Open Buildings helping strengthen community resilience Barlow describes 'composite warfare' as a '…proven, intelligence-driven, whole-of-government approach that integrates multiple domains of warfare such as land, air, sea, intelligence, information and cyberspace, along with the pillars of state to achieve a desired national strategic outcome'. The revised and expanded 2025 edition of Composite Warfare speaks to African conditions and arose out of the author's successful engagement across a myriad African battlefields. It is bottom-up, it is flexible and speaks to offensive, defensive and containment strategies. Moreover, the whole-of-government approach speaks to the reality of more comprehensive approaches to address much of the insurgencies scarring African nations, where a military approach needs to be combined with both better governance and economic development. The author demonstrates the mastery of his subject by effortlessly straddling strategic, operational and tactical concepts. To the uninitiated on the complexity of the African theatres of conflict, there are case studies and maps and figures which clarify the concepts deployed. ALSO READ: Africa elects its next 'super banker' One of the great strengths of the book lie in its ability to simplify complex strategic phenomenon and therefore will be ideal to be used as a prescribed text for every military college. Another great advantage of the book is the logical sequence in which it was structured. It is lear to me that the author took tremendous care in setting out the context of the African battle space, providing much-needed background on the nature of conflict and war in Africa. Parts II and III then take the reader through conventional and unconventional manoeuvres covering such diverse areas as the advance, the attack the defence, armed antigovernment conflicts, guerrilla warfare and the planning of counter-anti-government operations. Part IV, comprising five chapters, focuses on compositive warfare operations. It is in this chapter where one vividly sees how the whole-of-government approach works in practice from the principles of composite warfare to unconventional mobile operations and the African pillars of war, to structuring ground forces for composite warfare operations, as well as reflections on how to respond to issues of stability in Africa's fragile and failed states. The numerous appendices, some never before published, add to the value of this work. This book is a tour de force and with it, Barlow has cemented his reputation as Africa's best strategic studies thinker and practitioner. Will policymakers listen to the sage words of Eeben Barlow? 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