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The Global Financial Stability Review

The Global Financial Stability Review

Global Economy

Overview The outlook for the global economy has deteriorated causing an increase in financial market volatility this year. More uncertain global growth prospects and declines in inflation expectations could produce sustained economic and financial weakness as well as intensified concerns about global financial stability. The IMF pointed out in...

28 Jun 2016

The Group of 20 Limps Along

The Group of 20 Limps Along

Global Economy

At the height of the global financial crisis in 2008, the Group of 20 (G20) was elevated from a group of finance ministers to a heads of state meeting. The G20 won plaudits for effectuating a coordinated response that helped to mitigate the crisis and for seizing the opportunity...

28 Jun 2016

Tomorrow never comes: Why Africa’s Economic ‘rise’ may yet fall flat

Tomorrow never comes: Why Africa’s Economic ‘rise’ may yet fall flat

Global Economy

Since it (in)famously dubbed Africa the ‘hopeless continent’ the Economist has undergone something of an epiphany. In the intervening period the magazine has regularly eulogised about Africa’s performance and potential culminating in its rechristening in a 2013 special report as the ‘hopeful continent’. This volte-face epitomizes the seemingly unquenchable...

21 Jun 2016

The Kurds and the Fight Against Daesh

The Kurds and the Fight Against Daesh

Constructions of Terrorism

Recent bomb attacks in Turkey draw attention to the destabilizing effect of the ongoing conflict in Syria and Iraq.  Retired four-star U.S. Army General and former head of the CIA David Petraeus has called the Syrian civil war a, “geopolitical Chernobyl—spewing instability and extremism over the region and the...

14 Jun 2016

UAE Economic Diversification Record

UAE Economic Diversification Record

Global Economy

After the global oil price has fallen almost 70 % since mid-2014, oil exporting countries have felt the impact of the lower prices on growth rates, trade figures and public finances.  Despite the negative impacts of the fall in oil prices, the UAE Government remains positive about the country’s...

14 Jun 2016

Next Steps for the Introduction of VAT

Next Steps for the Introduction of VAT

Economy

Introduction The introduction of Value-added Tax (VAT) will occur in 2018 across the GCC.  It is a popular misconception to see the current low crude oil prices and the implementation of VAT as an example of cause and effect.  In fact, the GCC carried out extensive investigations into a...

30 May 2016

Building Human Capital

Building Human Capital

Education

Innovation and human capital are intertwined. In a knowledge and innovation economy, the greatest resource a country has is manifested in its workforce. Improving the qualifications of the population by providing education, training and continuous professional development significantly enhance the economic prospects.  As described by Theodore William Schultz, an...

30 May 2016

Water Security in the GCC

Water Security in the GCC

Environment & Security

The UN’s Water Security and the Global Water Agenda (2013), says that water security encapsulates multifaceted and interconnected challenges. It illustrates the centrality of water for all forms of security, whether related to more traditional forms of geo-political military security, or newer ones such as sustainability, development and human...

17 May 2016

Phoenix Rising? The Group of 7 System

Phoenix Rising? The Group of 7 System

Global Economy

The leaders of the Group of 7 (G7) countries will convene for their 42nd Annual Summit in Ise-Shima, Japan on 26-27 May. The G7 originated in a series of ad hoc meetings convened by finance ministers grappling with the aftermath of the collapse of the Bretton Woods system. Sensing...

17 May 2016

Transnational Crime, Transnational Criminal Law and Security in Afghanistan

Transnational Crime, Transnational Criminal Law and Security in Afghanistan

Transnational Crime & Security

Afghanistan remains the world’s largest producer of opium (more than 90% of illicit global supplies) and the heroin derived from this opium constitutes the bulk of the supply of the heroin in Europe and Eurasia.  As a result, transnational crime and the weakness of the legal control of that...

03 May 2016

Diversifying GCC Economies: The prospects and pitfalls of financial services

Diversifying GCC Economies: The prospects and pitfalls of financial services

Global Economy

As other Trends contributions have observed, the slump in global oil prices has reignited the debate surrounding the need to diversify the economies of the Gulf Cooperation Council (GCC). Speaking at the Arab Fiscal Forum in February 2016 Christine Lagarde, the IMF Managing Director, revealed that oil exporters in...

03 May 2016

Confronting the Challenges to Global Security Created by Daesh/Islamic State

Confronting the Challenges to Global Security Created by Daesh/Islamic State

Constructions of Terrorism

Daesh/Islamic State (IS), also known as ISIS/ISIL has seized the attention of global leaders, diplomats, military and security officials, academics and journalists alike.  Tracing its linage back to the insurgency that grew out of the 2003 invasion of Iraq by the United States and its allies, Daesh/IS now transcends...

19 Apr 2016