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Search Results for "covid 19" (360 articles)


If European industries are to remain competitive in this environment – and if Europe is to achieve its goal of “strategic autonomy” – the EU will have to follow suit.
Opinion

There can be no business as usual for European industry

A month before the European Parliament elections, many of Europe’s industries are fighting to survive. But rather than make the difficult decisions needed to reverse the European Union’s industrial decline, leaders have often settled for the status quo. Some populist leaders even oppose plans to modernise Europe’s industrial base – effectively deceiving the public in the process.Europe’s manufacturing sector has faced a series of unprecedented challenges in recent years. The Covid-19 pandemic and the Ukraine war laid bare Europe’s reliance on others for critical goods and dealt serious blows to manufacturing by disrupting supply chains and triggering energy and cost-of-living crises.The embrace of short-termism by corporations – reflected in their preference for dividends and share buybacks over reinvestment of profits – has further undermined the EU manufacturing sector’s dynamism and resilience. Compounding all these challenges is the biggest crisis of them all – climate change – which is generating rapidly increasing financial and human costs.The impact on European industry is already apparent. In 2022, the EU’s trade deficit reached a staggering €432bn ($465bn), driven by both higher spending on energy imports and manufacturing losses linked to the energy crisis. In February 2024, industrial production fell by 6.4% in the euro area and by 5.4% in the EU year on year.Unless the EU reverses its industrial decline, Europeans could end up without industries that have, for decades, provided quality jobs to countless workers, who gained not only economic security, but also a sense of purpose, community, and identity. And it is not at all clear how that void would be filled.The world’s other major economic powers are already committed to industrial modernisation. Two decades of aggressive industrial strategy have given China a dominant position in most of the clean-technology supply chains. Recently, the United States has responded with an industrial policy of its own, the CHIPS and Science Act and the Inflation Reduction Act (IRA). If European industries are to remain competitive in this environment – and if Europe is to achieve its goal of “strategic autonomy” – the EU will have to follow suit.The good news is that we already have a roadmap for sustainable industrial modernisation: the European Green Deal, a wide-ranging set of policies aimed at transforming the EU into a modern, resource-efficient, and competitive economy. Unfortunately, it hardly represents an easy fix, and we are a long way from delivering on it. To get there, European policymakers will have to deliver unprecedented levels of investment fast and ensure that industries and workers in all member states are included.The Green Deal’s investment demands are considerable. With electricity consumption projected to rise by around 60% by 2030, the European Commission estimates that €584bn will be needed this decade to modernise our grid alone. This calls for a comprehensive EU-wide investment strategy that both sustains existing heavy industry and incentivises clean-tech innovation.For nearly 20 years, the EU has favoured the emissions-trading “stick” over carrots, or positive incentives for decarbonisation. To be sure, the European Emissions Trading System – which effectively establishes a carbon price by forcing companies to acquire enough permits, or “allowances”, to cover their carbon dioxide emissions – has helped to curb emissions from electricity generation. But it has also increased pressure on European industry’s competitiveness – pressure that the IRA is now compounding.Europe has attempted to ease that pressure through carbon border taxes and foreign subsidy regulation. But these are partial measures. EU leaders must go much further, devising a broader industrial strategy that both addresses investment shortfalls and mitigates the risks associated with the production of more expensive net-zero goods in a fiercely competitive global market.Unfortunately, the EU’s new fiscal rules – agreed by the European Parliament and Council in February – will undermine the bloc’s ability to invest in green technology and industrial upgrading, and deepen disparities among member states. According to research by the European Trade Union Confederation, only three countries (Denmark, Ireland, and Sweden) can meet their social- and green-investment needs under the EU’s new fiscal rules. To bridge the gap across the rest of the EU, an additional €300-420bn annually will be needed. If that funding is not delivered, the EU’s internal market risks fragmentation, which would accelerate deindustrialisation.Moreover, support for working communities – provided through strong social conditionalities on all public-funding, public-procurement, and lead-market initiatives – is needed to boost economic growth, create jobs, and protect the environment, all of which is essential to win public trust. Exceptional times demand innovative solutions, not more of the same failed policies. Approaches like austerity, labour-market flexibilisation, and privatisation will only exacerbate the problems we face.Similarly, short-sighted populism is no substitute for the holistic industrial strategy Europe needs to match those of its competitors – an approach that accounts for all dimensions of the challenges ahead. For example, a one-dimensional focus on strict environmental criteria risks producing unaffordable green products, which would stall progress in electric vehicles and other critical industries.The choices we make in the coming years will determine whether European industry – integral to the EU’s social fabric – has a long-term future. That is why the next European Parliament must make implementing a renewed European Green Deal, complemented by initiatives to bolster industry and attract broad public support, a top priority.— Project SyndicateJudith Kirton-Darling is General Secretary of the European trade union IndustriAll.

Vietnamese ambassador Tran Duc Hung.
Qatar

Vietnam envoy underlines potential for enhanced co-operation with Qatar

As the Vietnamese ambassador Tran Duc Hung is set to conclude his service in Qatar, he stressed that bilateral relations between Qatar-Vietnam have a strong potential for more co-operation in all fields to further strengthen the friendly relations between the nations on all levels.He said: "I arrived in Doha especially at the peak of the Covid-19 pandemic. Three years is not a long period but exciting for me to live, work and meet people here in Doha. As a professional diplomat, I have got experiences in different parts of the world from Singapore, the US and now Qatar. Along with friends in Qatar in my last posting here, I gained great and unforgettable experiences."In the first year of my posting during the pandemic time, diplomatic activities were implemented in restricted ways, but somehow Vietnam-Qatar relations have been maintained and developed successfully. Right after the end of the pandemic, the number of Vietnamese enterprises coming to Qatar to explore investment opportunities has been rapidly increasing. Two big Vietnamese companies also held a number of activities to promote tourism between Vietnam and Qatar."In recent years, Vietnam-Qatar relations have made progress in multifaceted fields. The exchange of visits at various high levels from both sides’ leadership has cemented bilateral relations between the two countries. Especially, the agreement on a mutual visa exemption for diplomatic official and special passport holders was signed in August 2022 and then put into effect in September 2023. This has created more favourable conditions for boosting bilateral relations. "He stressed that "economic co-operation has been enhanced with the two-way trade volume increasing from $400-500mn to around $770mn. The Embassy also co-operated with a number of Vietnamese companies to participate in AgriteQ 2023 at Expo 2023 Doha with their top agricultural products such as rice, pepper, cashew nuts, agarwood and others."Besides, he said Petro Viet Nam has taken part in a number of energy- related service and LNG contracts with its Qatar counterparts. Vietnam has provided Qatar with 500 skilled labourers in such fields as energy, construction, and others."It is one of our priorities to develop bilateral labour co-operation, which meets the current demand of Qatar," stressed the ambassador.He further noted that "Qatar Airways is operating successfully in Vietnam. Qatar Investment Authority has invested hundreds of millions of US dollars into the Vietnamese market. Last year, Vietnam and Qatar celebrated the 30th anniversary of the establishment of diplomatic relations. Accordingly, the Embassy of Vietnam held a variety of cultural events from film screening to art performance."The envoy remarked that such events bring people of both countries closer together. Eventually, he concluded that Qatar is a safe, advanced, well-organised and peaceful country with excellent living standards that that promotes coexistence among different people.

Gulf Times
Opinion

The gig economy vs America’s workers

Uber, Lyft, DoorDash, Instacart, and other gig corporations are once again seeking the law’s blessing in the United States for their unscrupulous employment practices. Ahead of November’s election, these firms have proposed several ballot initiatives in Massachusetts that would empower them to classify drivers and delivery people as independent contractors rather than employees. (The Open Markets Institute, where I work, filed an amicus brief supporting a challenge to the constitutionality of the ballot questions.)As with Proposition 22 in California in 2020, Uber and other companies will probably spend lavishly to convince voters that these measures would benefit the affected workers and the public alike.If Massachusetts voters endorse the ballot initiatives in November, these firms would have the freedom to rob workers of basic employment rights and benefits, including minimum wages, overtime pay, workers’ compensation, and unemployment insurance. It would also give gig employers a major – and manifestly unfair – competitive advantage over rivals and drive down labour-market standards. Instead of encouraging this exploitative business model, state and federal policymakers should force these companies to comply with the laws that apply to all employers.Gig companies have misclassified their main workforce from the beginning, openly violating the law or exploiting its ambiguities. Uber and Lyft, for example, have insisted to regulators and the public that their drivers are independent contractors and thus not entitled to the rights and protections of employees, including the freedom to organise. These companies retain the control of an employer – Uber tells its drivers who to pick up and what routes to take, and sets their fares – while renouncing the responsibilities and costs of being one.The ballot initiative process could lift the legal cloud hanging over gig corporations – at least in Massachusetts, where they appear to be in violation of pro-worker employment laws. In 2020, then-Attorney General Maura Healey (who is now the state’s governor) sued Uber and Lyft, alleging that they misclassified drivers as independent contractors and illegally denied them the minimum wage and overtime pay. Proceedings in the case have just begun.Codifying the classification of gig companies’ drivers, shoppers, and delivery people as independent contractors would cause substantial harm. For starters, gig workers would be formally stripped of employment rights. Despite being misclassified, they can currently pursue legal recourse under Massachusetts law for nonpayment of the state’s $15 minimum hourly wage. Moreover, gig workers would not be entitled to unemployment insurance if they lost their job, or compensation if injured or attacked while on the clock.These are not merely theoretical harms. Many, if not most, Uber and Lyft drivers make less than the applicable minimum wage after factoring in the costs of their vehicle, gas, and insurance. Many gig workers lost their livelihood during the Covid-19 pandemic. Cab and delivery drivers are frequently attacked or injured on the job.According to the Federal Bureau of Labour Statistics, transportation and delivery is the most dangerous line of work in the US, with 1,620 fatalities in 2022. Depriving gig workers of basic protections would have severe consequences for a group made up disproportionately of immigrants and people of colour.What gig companies are seeking in Massachusetts and elsewhere is a permanent competitive advantage over rivals that must comply with the state’s employment laws. Firms that misclassify workers as independent contractors, and thus shirk their responsibilities as employers, save an estimated 20-40% on labour costs.Uber, Lyft, and DoorDash already possess this advantage. Rivals required to classify their workers as employees would still need to pay their workers a liveable wage and contribute to the state social safety net. Taxicab companies that employ drivers and restaurants and supermarkets that deliver food have already lost substantial market share to gig companies that have long violated employment laws and were able to operate at a loss for years on end. The proposed ballot initiatives would legalise this unfair competition.The injustice is clear: a restaurant that employs a driver to deliver meals would be obligated to pay them at least $15 per hour, while DoorDash, delivering the same food from the same restaurant, could legally pay its driver less. When Congress enacted the national minimum wage and overtime law in 1938, it called payment of sub-living wages to workers “an unfair method of competition.”Lastly, if successful, the proposed ballot initiatives would unleash a race to the bottom. Over time, gig companies would capture even more market share through their harmful labour practices, and employ more workers who lack fundamental protections. Their rivals would face the choice of complying with the law and potentially going out of business, or engaging in practices such as wage theft to remain competitive. Though ostensibly narrow in scope, these measures could ultimately undermine Massachusetts’s strong labour-market standards.The proposed ballot initiatives represent an insidious effort on the part of gig corporations to legalise their unlawful business models. While a defeat at the ballot box – or in court – could force these companies to change tack in Massachusetts that will not be enough.State and federal policymakers must take stronger action against these companies, which have largely succeeded by violating the rules enacted by elected officials. They have moved fast and broken things, and now seek after-the-fact validation for the damage they have caused. The government should say enough is enough: no-one, including Uber, is above the law.— Project SyndicateSandeep Vaheesan is Legal Director at the Open Markets Institute.


Biden speaking at the National Museum of African American History and Culture in Washington, DC.
International

‘Black history is American history,’ Biden says in fresh appeal to voters

President Joe Biden launched a fresh bid on Friday to bolster support from African American voters, looking to seal up cracks in the Democratic coalition that carried him to victory over Republican Donald Trump in 2020.Biden visited the popular National Museum of African American History and Culture in downtown Washington and greeted his audience by declaring: “Black history is American history.”He and Vice-President Kamala Harris later will meet privately at the White House with the Divine Nine, a group of historically black sororities and fraternities.Harris joined one of those sororities, Alpha Kappa Alpha, when she attended Howard University.On Thursday, Biden met families who had relatives involved in the Supreme Court’s landmark May 17, 1954, Brown v. Board of Education ruling 70 years ago that led to the desegregation of schools.“We learn better when we learn together,” Biden said at the museum.This leads up to Biden’s commencement speech tomorrow at Morehouse College in Atlanta, a historically black school that was the alma mater of slain civil rights icon Martin Luther King Jr.He will attend an event in Georgia today focused on engaging black voters.Democrats are deeply divided over Biden’s handling of the Israel-Hamas war in Gaza, a new Reuters/Ipsos poll found, fraying the coalition that he relied on four years ago to beat Trump.A New York Times/Siena College poll released early this week found Trump winning 20% of the black vote, a sign that he has made inroads into a bloc of voters who have traditionally overwhelmingly voted for Democrats.Biden singled out Trump and other Republicans for attacking programmes aimed at improving diversity, equity and inclusion.He said during the museum visit that the “extreme” Republican and his allies were trying to “erase history”.“My predecessor and his extreme MAGA friends are now going after diversity, equity and inclusion all across America,” he said, referring to Trump’s “Make America Great Again” movement.“They want a country for some, not for all,” he said at the museum, which was opened in 2016 by Barack Obama, America’s first black president, and has since become a Washington landmark.Biden also criticised the “extreme” US Supreme Court which, with three judges appointed by Trump, has issued a string of controversial rulings on abortion, voting rights and diversity.Biden joined Atlanta radio show host Darian “Big Tigger” Morgan on Wednesday and had some sharp criticism for Trump, the former president who is trying to regain the office in the November 5 election.“Look, Trump hurt black people every chance he got,” Biden said. “Black unemployment, uninsurance rates went up under Trump. Trump’s tax plan reinforced discrimination.”“Typical white households got double the cut of the typical black household,” he continued. “They botched the coronavirus (Covid-19) response, leaving black people dead and Black-owned businesses shuttered.”Some Morehouse faculty members and students had wanted the college to withdraw its invitation to Biden over his administration’s staunch support for Israel’s war in Gaza, where the death toll has mounted to more than 35,000.However, the White House said the visit would go ahead as planned.Biden has taken steps that benefit black Americans, such as expanding access to healthcare coverage, and has fostered economic gains that led to record low black unemployment rates and the Child Tax Credit expansion, which helped cut childhood poverty in half in 2021.Opinion polls show the November 5 election shaping up to be a close match between Biden and Trump, making turnout among black Americans – who comprise sizable populations in key battleground states like Georgia, Michigan, Wisconsin and Pennsylvania – a crucial aspect of Biden’s path to victory.Biden’s re-election campaign, in a memo released by senior adviser Trey Baker, said that the president is not taking a single voter for granted.“We are not, and will not, parachute into these communities at the last minute, expecting their vote. Every day, from now until election day, we will continue working diligently to ensure that come November, black voters send Joe Biden and Kamala Harris back to the White House to continue delivering for black America in unprecedented ways,” he said.“We are meeting black voters where they are,” Baker said in an e-mail. “After Donald Trump failed us, no administration has delivered for black America like President Biden and Vice-President Harris.”

Injaz Al Arab chairperson Sheikha Hanadi N al-Thani at the QEF 2024. PICTURE: Thajudheen
Qatar

Middle East sees significant push for SMEs

The Middle East is struggling with a concerning gap between education and job market demands, worsened by years of instability and rapid technological advancements, leading to millions of unemployed youth, Injaz Al Arab chairperson Sheikha Hanadi N al-Thani told the Qatar Economic Forum (QEF).During a panel discussion on *2024: Not Business as Usual on Wednesday, she said: “Let’s put it into context. I think we have one of the highest percentages of youth population in the world.”“Sixty-five per cent of the population of the Mena (Middle East and North Africa) region is under the age of 25,” Sheikha Hanadi stated. “If you take it into consideration, this is around 200mn people ... so we have around 50mn people who are jobless.”“How did we get there? We are a region that is plagued by instability, by turmoil, and we are facing an ever-changing landscape of changes in the way we live,” she said, pointing to the dire situation faced by the region’s youth population amid a landscape of staggering unemployment figures.The Injaz Al Arab chairperson underlined the unprecedented challenges stemming from a fundamental mismatch between the skills imparted by educational institutions and those demanded by evolving industries.Citing the complex nature of the crisis, she said the region had witnessed in the past decades financial meltdowns, fluctuating inflation rates, and the unprecedented impact of the coronavirus (Covid-19) pandemic.Sheikha Hanadi said that these chaotic circumstances have made “business as usual” a distant memory where the youth face a bleak reality with less hope for a better tomorrow.She lamented that many perceive a future devoid of promise, bereft of any avenue for financial independence or personal growth, and with no viable prospects for entering the labor market or realising their aspirations.However, Sheikha Hanadi noted a significant push towards entrepreneurship and the development of small and medium-sized enterprises (SMEs) as key drivers of job creation and economic growth in the region.She said the region made impressive strides in fostering an ecosystem where SMEs can thrive, becoming significant job creators.“It is astonishing; they are entering every value-added sector in the economy, from ICT (information and communications technology) and tourism to healthcare,” Sheikha Hanadi said, attributing such progress as a result of decades of reforming education systems, understanding the need to diversify away from hydrocarbons, and promoting policies that support SMEs.She said that Injaz Al Arab, which operates in 13 Arab countries, observes a wide variety of systems, noting that not all Arab countries have achieved the same level of progress.Sheikha Hanadi said that there are still countries where the public sector is growing, and in some places, 65% of the unemployed are higher education seekers.This, she pointed out, indicates a mismatch between current policies and the goal of reducing unemployment and increasing youth employment.

Saad bin Ali al-Kharji, chairman of Qatar Tourism, and Saudi Arabia's Tourism Minister Ahmed al-Khateeb at the Qatar Economic Forum  2024. PICTURE: Thajudheen
Business

Qatar saw more than 2mn visitors in January-April 2024

Qatar, which has strategised efforts to strengthen its tourism industry, has seen more than 2mn visitors in the first four months of this year.The country recorded 4mn visitors in 2023, which showed a 58.4% growth compared to 2022, said Saad bin Ali al-Kharji, chairman of Qatar Tourism, at the Qatar Economic Forum powered by Bloomberg.Discussing the future of tourism in the Gulf region at one of the panel sessions, he underscored the role of tourism in job creation and emphasised the need for continuous infrastructure development to support the rapid growth of sectors such as transportation, agriculture, and construction, which contribute to creating both direct and indirect job opportunities.Emphasising the pivotal role of the FIFA World Cup 2022 in supporting the region's tourism industry growth, he said the tournament contributed "significantly" to portraying the Arabian culture and Gulf heritage to the world, thereby attracting visitors and stimulating interest in the Gulf region's unique culture.This resulted in notable growth in tourism investments, visitor numbers, and the development of new tourist destinations, he said in the presence of Saudi Arabia's Tourism Minister Ahmed al-Khateeb.Qatar’s strategic plan calls for tourism to contribute 12% to gross domestic product. According to The World Travel and Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) report, travel and Tourism is set to contribute an all-time high of QR90.8bn to the Qatari economy (11.3% of the total) and will support more than 334,500 jobs across the country (15.8% of the total workforce).It also said spending by international travellers is expected to increase significantly this year, with forecasts indicating a record spend of QR69.6bn this year, while domestic spend is projected to reach QR12bn.In 2023, the travel and tourism’s GDP contribution grew by 31% to a record-breaking QR81.2bn, representing 10.3% of Qatar’s total economic output, demonstrating the sector’s importance to the national economy.Addressing the resilience of the tourism sector, al-Kharji pointed out its ability to adapt to economic and geopolitical conditions and recover rapidly from crises."Despite challenges, global tourism has rebounded significantly from the impact of the Covid-19 pandemic, with travel levels surpassing 88% of pre-pandemic levels worldwide and exceeding pre-pandemic levels in the Middle East," he added.

Gulf Times
Qatar

'Unified VISA to augur well for tourism in GCC; Double the Discovery to gain traction'

The 'Double the Discovery', a joint initiative of Qatar and Saudi Arabia, is expected to gain traction and the proposed common GCC (Gulf Co-operation Council) visa will augur well for the tourism in the region, according to a top official of Qatar Tourism."We launched a joint programme called Double the Discovery. We are promoting Qatar and Saudi in one campaign and we identified a few markets to launch this campaign," Saad bin Ali al-Kharji, chairman, Qatar Tourism told the Qatar Economic Forum, powered by Bloomberg.The joint initiative sought to promote tourism in the neighbouring GCC countries, offering international visitors in both countries the chance to explore the rich cultural and historical wonders of Qatar and Saudi Arabia in a single trip."This is taking us to the benefits of collaboration. The competition you see in the region now, we see its cumulative efforts," he said.Qatar Airways will serve as the official airline partner of the campaign. Visit Qatar and Visit Saudi will identify the main markets for launching and promoting travel packages through tour operators in each market. Discover Qatar and Discover Saudi are the local DMC partners in Qatar and Saudi Arabia, respectively.The significant growth in tourist numbers in 2023 and hosting 4mn visitors last year demonstrates Qatar’s exceptional tourism offerings across cultural, sports, and recreational activities, as well as top-notch services in transportation, travel, and hospitality sectors.Expressing the hope that by the end of this year, the GCC might see the unified visa, he said it will also contribute to the number of visitors to this region.Asserting that time has come for the region to reap the advantage of tourism sector and its growing prospects, he said Qatar is now working on strategies and drafting regulations to enable the private sector and tourism to grow as the GCC region was the fastest growing segment within tourism after the Covid pandemic.The sector recovered very quickly and the demand has been growing due to good connectivity, according to him.Ahmed al-Khateeb, Minister of Tourism, Saudi Arabia, said the first step is to make the travel between the GCC countries seamless and then to start working on joint packages and joint flights and joint promotion programmes to put this emerging destination in the global travel map."We started with Qatar, and this is going to be a pilot. Actually, we started with Qatar during the World Cup, where if you get a visa, you can access the two countries and the pilot programme was extremely successful, and we will build on this," he said, adding tourists from China, Europe and India are the prime targets."We have the plans to reach out to these markets and attract them for various reasons," according to him.Highlighting that travel and tourism is very important industry globally, he said the GCC region accounts for 10% market share in the total. The GCC countries have started to invest in this very important industry for the future and to unlock the value, he added.In this regard, he said Saudi Arabia is planning to have 250,000 rooms with global hospitality major Accor planning to double its properties by adding 45 more hotels in the next seven years from the present 41.The country has undertaken capacity enhancement in the King Salman airport to cater to 12mn people and it is also coming with up with new airline Riyadh Air to improve the air connectivity to Saudi Arabia from major tourist cities across the world.Saudi Arabia is investing more than S$800bn in the tourism sector over the next seven years as part of efforts to enhance the sector's contribution to 10% of gross domestic product from the present 4.5%. In the last five years, it added 250,000 jobs in the tourism sector, of which 50% was captured by women.Saudi Arabia's mammoth investment in the tourism sector is through projects such as the Red Sea project, the Diriyah and Qiddiya projects, and other private projects in various regions of the country that contribute to the advancement of the tourism sector.Sébastien Bazin, Group chairman and chief executive officer, Accor said travel and tourism is the second largest industry with its contribution at 11% of total world GDP and 12% of the world jobs."In the next 20 years, the growth (of the tourism sector) will be 5-7% per year due to demographics, emerging middle class and air connectivity," he said, adding "in the next five years, India will change the industry profoundly within India and outside.

Gulf Times
Qatar

GCC willing to take every step possible to be business friendly: Al-Jadaan

The Gulf Co-operation Council (GCC) has long-term plans and is "willing to take every step possible" for investors to do business in the region, which has become a bright spot in the world, according to Mohamed al-Jadaan, Saudi Arabia's Finance Minister."We are willing to take every step possible to make it easier for investors to do business in the region, that we are willing to do a lot of structural changes, including actually making it very predictable," he told the Qatar Economic Forum, Powered by Bloomberg.Highlighting that resource richness brings with it the dependence on oil revenues, he said the region is now marching towards a proper sustainable diversified economy that enables the private sector, utilises the demography of young population who are technology savvy and who can be inventors, entrepreneurs and investors of the future.Speaking at a panel “Reshaping Middle East Economies” at the forum in Doha, he asked policy makers to optimise the strategies to curb “economic leakage” and prevent resources or fund from being wasted.Suggesting prudent fiscal policies, he said spending at a time of global inflation results in increased project costs, which would further fuels inflation and “overheat” economy.He said Saudi Arabia's gross domestic product has risen more than 15% since the launch of 2030 vision, which was launched well before the Covid-19 pandemic, and issues like inflation and supply chain disruptions."All of these collective shocks that are facing the world calls us also to reprioritise, to look at what we are doing, and how can we actually optimise what we are doing, optimize our plans,” al-Jadaan said."We are not complacent, we need to push through the momentum of reforming the economy," he said, adding Saudi Arabia has adopted a conservative approach when it comes to oil revenues.On Saudi Arabia’s ability to fund large-scale projects amid lower oil prices, he said the country has been “conservative” in its economic projections.Saudi Arabia closed 2023 with oil revenue higher than projected at the beginning of the year, despite a 20% drop in crude prices and 17% production, he said.“[This] basically tells you that we are not optimists when it comes to projecting and therefore committing our spent to what the revenue is. We are very conservative,” he added.Mohamed Sulaiman al-Jasser, chairman of the Islamic Development Bank Group, said resilience is probably now what distinguishes the GCC economies, which is seen by the outside world as one bloc that has cohesive and complementary policies to really be a beacon of economic growth and development not for the region but also beyond."Resilience, I think is very important, and the GCC countries seem to be together moving in that direction and now they are much greater believers in their own abilities, he said.“Our demographics are not talked about enough. Our demographics are probably our greatest asset - even more than oil for the GCC," he said, highlighting the transformative changes in the Gulf since the discovery of oil and the investments in education and human development made by the GCC.

Gulf Times
Qatar

Prime Minister and Minister of Foreign Affairs: Resilient economy, investment efficiency placed Qatar in global competitive position

HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani affirmed that under the leadership and wisdom of HH the Amir Sheikh Tamim bin Hamad Al-Thani, embodied in the Qatar National Vision 2030, the State of Qatar has successfully navigated significant challenges, leading to the flexibility that characterizes its economy and positioning it competitively on the global stage, with efficient investment in natural resources and human energies.Addressing the fourth edition of the Qatar Economic Forum under the theme "A World Remade: Navigating the Year of Uncertainty," His Excellency stated that the Qatari economy continues to achieve indicators reflecting its stability and prosperity, adding that the gross domestic product at constant prices until the third quarter of 2023 recorded growth of about 1.6 percent and this growth coincided with improvements in financial stability indicators, with the government adopting a flexible financial plan in response to fluctuations in energy prices. He added that Qatar is on its way towards the final stages of Qatar National Vision 2030, with the government continuing to work on completing and enhancing Qatar's diverse economic infrastructure, driven by initiatives from both the local and foreign private sectors, supported by a series of regulatory reforms and investment incentives, qualifying it to occupy an advanced position among the top 10 countries in terms of business environment.His Excellency further highlighted Qatar's transition towards comprehensive digital transformation through increased investment in technology, innovation, and artificial intelligence. To achieve this, Qatar has allocated a package of incentives worth QR 9 billion, and the country is hosting several sessions of the "Web Summit" conference for the first time in the Middle East and Africa to enhance partnerships with major investors and exchange expertise with technology leaders worldwide. Alongside this summit, the "Startup Qatar" project was launched, with more than 250 startups registered.His Excellency also announced the launch of the "Al Fanar" Arabic Artificial Intelligence project, which will primarily focus on collecting quality data in the Arabic language, contributing to enriching large linguistic models and preserving the Arab identity. He pointed out that the government will continue its investment in the energy sector, with Qatar expected to complete its expansion in natural gas production by 2030 through the North Field Expansion project, increasing total production to 142 million tons annually.His Excellency expressed his pride that Qatar has become a beacon of economic opportunities for many, attracting investors from around the world, due to the foundations it provides for economic success that helps uplift the region, allowing everyone to enjoy this prosperity.Regarding the current global challenges and crises, HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani said that the world has barely recovered from the COVID-19 pandemic before finding itself facing wars casting heavy shadows on everyone's lives, unfolding in various parts of the world, particularly the Russian-Ukrainian war in Europe, the Sudanese crisis in Africa, and the latest challenges in the Gaza Strip, where the humanitarian crisis has worsened, claiming the lives of thousands of innocent children, women, and elderly individuals. He emphasized that the State of Qatar was among the first to warn against the danger of the Gaza war spreading to other regions in the region, yet the world as a whole failed to prevent this, leading to the expansion of confrontations to the Red Sea, threatening international navigation and exacerbating the difficulties of global trade already suffering.His Excellency affirmed that the multiple challenges resulting from these successive crises compel countries to work on improving economic conditions, as this contributes to creating oases of stability.HE Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani concluded his speech by expressing hope in the ability of nations to overcome challenges, stating that in Qatar, everyone is determined to bring about change to establish a better future, looking forward to seeing new investment opportunities through the platform of this forum.

Gulf Times
Qatar

Publishers to QNA: literature, psychology, history are top interests of translators

Knowledge translated from world languages into Arabic and from Arabic into world languages attracted the interests of readers and visitors to the 33rd Doha International Book Fair, which was reflected in translators keenness to meet the needs of readers in these fieldsIn statements to Qatar News Agency (QNA), a number of publishers pointed out that literature in general, and novels in particular, are at the forefront of readers demands, in addition to interest in translated books in the fields of psychology, history, and general medical knowledge.New transformations in crises, such as Covid-19 pandemic, and wars and conflicts have enhanced readers interest in learning about knowledge and sciences that were mostly limited to specialists, which thereby prompted many publishers to showcase their production of translations in these fields, they added.Writer at Hamad Bin Khalifa University Press (HBKU Press), Munira Saad Al-Rumaihi, said that readers and translators are mostly interested in translations of literature, as it is a reflection of a world in which we exchange knowledge. she noted that HBKU Press has a strict approach in its translation choices, since it is a bridge to convey literature and knowledge to the world, and to transfer invaluable books and knowledge to Arab readers.Through this approach, HBKU Press have translated international popular books in the fields of fiction into Arabic,besides translating the works of Qatari writers in childrens literature into English, German, Korean and Turkish, which have achieved remarkable success, in addition to distinguished translations in the fields of history and general knowledge, Al-Rumaihi added.For his part, head of the Ebjed Foundation for Translation, Publishing and Distribution in Iraq, translator Hussein Nahaba,said that his works in translating literature to and from Spanish amounted to 41 books, the most prominent of which is the novel; due to readers' interests in Spanish literature, especially following the wave of magical realist novels.Nahaba added that the interests of readers are linked to their age groups, pointing out that most of the visitors to Ebjed pavilion look for translations in the field of history and psychology, while some young readers request translations in the field of human development to enhance their abilities and talents in facing the demands of contemporary life.In turn, supervisor at Egyptian publishing house Aseer Al-Kotob, Alaa Muhammad, said that the translation trends at Aseer Al-Kotob focus on literature in its different classifications, especially modern international series in the field of drama and fantasy, in addition to the works of major contemporary writers in the field of psychology which receive special attention from readers. Muhammad stressed that the quality standard is the basis for readers interest in the houses selections of literature and sciences for translation into Arabic.For his part, head of Kuwait's Basma Publishing and Distribution House, Hamdan Al-Jubairi,pointed out that the Doha International Book Fair is characterized by the diversity of the interests of its visitors, especially in the field of translation from other languages, and that visitors to the Basma pavilion seek translations in the field of novels with a social, philosophical and educational dimension. Educational books related to human development also receive special attention. Therefore, Basma House seek more diversity in their publications in this field.Al-Jubairi pointed out that cultural thought and general medical knowledge received increased attention following the Covid-19 pandemic, as part of the keenness to enhance the prevention of health pandemics.The 33rd Doha International Book Fair witnesses the participation of 515 publishers from 42 countries, with the Sultanate of Oman being the guest of honor. It includes a number of accompanying cultural and artistic events, and continues until May 18t at the Doha Exhibition and Convention Center (DECC).

Gulf Times
International

Emirates Group books record $5.1bn annual profit

Dubai's Emirates Group announced annual profits of $5.1bn yesterday, a rise of 71 %, as the airline company set a new record for the second year in a row.Citing strong customer demand, it said group profits for the past two years hit $8.1bn, surpassing the losses seen during pandemic-hit 2020-2022."The Emirates Group has once again raised the bar to deliver a new record performance," chairman and chief executive Sheikh Ahmed bin Saeed al-Maktoum said in a statement.State-owned Emirates Group, operator of the world's largest long-haul carrier, announced a record $3.0bn in profits last year as it returned to the black after the Covid pandemic.Emirates has now erased the $1.1bn loss in 2021-2022 and the heavy $5.5bn deficit a year earlier, when it was forced to ground its fleet and lay off staff."The Group's excellent financial standing today places us in a strong position for future growth and success. It enables us to invest to deliver even better products, services, and more value to our customers and stakeholders," Sheikh Ahmed said.The airline business alone returned record profits of $4.7bn, up 63%. Emirates Group also encompasses airport services company Dnata, whose profits more than quadrupled to $400mn.The Emirates Group workforce grew 10% to a record 112,406 employees. The airline will receive 10 new Airbus A350s from August but remains plagued by delays to Boeing's 777X, with 205 on order.The positive financial results come despite a period of turmoil in the region since the Israel-Hamas war started in October, setting off a wave of political tensions."The business outlook is positive, and we expect customer demand for air transport and travel to remain strong in the coming months," said Sheikh Ahmed, adding that possible hazards included "volatile environments caused by socio-political changes".The air travel upswing has prompted Dubai to expand the Al Maktoum International Airport, which has received a relatively small share of the Gulf financial hub's air traffic since 2010.Last month, the emirate announced that work had begun on a new terminal at Al Maktoum on Dubai's outskirts, which the Gulf emirate's ruler said will become "the world's largest" at a cost of almost $35bn.Once fully operational, the airport will "handle a passenger capacity of 260mn annually", the government said in a statement.The first phase of the project is expected to be ready within 10 years, with a capacity to accommodate 150mn passengers annually.Authorities want it to replace Dubai International Airport, which can handle up to 120mn passengers annually and whose city-centre location prevents expansion.

Gulf Times
Qatar

Registration for "Police Officers of Tomorrow" Program to open Sunday

The Police Academy, represented by the Police College, announced that the registration for the fifth edition of the "Police Officers of Tomorrow" program, Summer 2024, will open next Sunday via Metrash application, while the program will commence on Jun. 22 until early August.Addressing a press conference, chairman of the committee of "Police Officers of Tomorrow" program Capt. Hamad Khaled Al Mannai highlighted that the key objective of the program is to deepen the national identity and patriotism and ingrain them in the hearts of young people, in addition to promoting noble values, shouldering the responsibility, serving the community and strengthening the inveterate Islamic principles through a multitude of activities that hone leadership skills. Also, the program intends to foster confidence of the participating students, coupled with practical exercises to upgrade their sporting, military, cultural and awareness capabilities.The program specifically targets students born in 2012, 2013, 2014 and 2015, who will be distributed to six groups, three groups during morning hours from Sunday to Thursday at 9am until 1pm, three groups during evening hours from Saturday to Wednesday at 4pm until 8pm, Al Mannai pointed out, stating that the first and second groups will start on Jun. 22 to Jul.4, while the third and fourth groups will start on Jul.6 until Jul 18, with the fifth and sixth groups starting on Jul 20 to Aug. 1.Al Mannai highlighted that the program activities will be divided into two military and sporting categories, with the military category comprising infantry and air gun shooting, along with lectures in raising the awareness delivered by the Ministry of Endowments (Awqaf) and Islamic Affairs. He added that the sporting category comprises swimming and self-defense contests, alongside lectures by National Cyber Security Agency (NCSA), with the programs featuring field trips to several departments of the Ministry of Interior, such as the General Directorate of Civil Defense, General Directorate of Coasts and Borders Security, and the Internal Security Force (Lekhwiya) to get familiarized with the activities undertaken by these institutions.The registration will kick off next Sunday either via Metrash2 application, or WhatsApp number 60004952 for inquiries, starting from 7am until 12pm, he affirmed, pointing out that students who had participated in the previous sessions could subscribe in this edition.Al Mannai added that the number students who participated in first and fourth editions reached 10,000, notwithstanding the program stopped short for two years due to COVID-19 pandemic, highlighting that admission to this program does not qualify students for military colleges.For his part, assistant chairman of the committee of "Police Officers of Tomorrow" program Capt. Mohammed Nasser Al Sayed talked about evening times and mechanisms of registration via Metrash2, along with the steps that should be followed during the registration process, starting from accessing the citizens services on Metrash and selecting Police Officers of Tomorrow icon. He added that upon accessing Metrash2, a list of children and age groups will appear to select the child to be registered, then fill out the required data and agree to the pledges.As to the mechanism of registration, Al Sayed reminded the students of the importance of reporting any diseases they suffer from, such as Asthma or others, to be put into consideration, confirming that this information will remain confidential, as the application system will shut down automatically, once the registration is complete. He outlined that the admission priority will be, as per priority of registration.