STANDPOINT by Atique Naqvi

  In 2023, more countries such as the UAE and Iran joined the BRICS group. BRICS Key to Arab Trade Diversification Strategy By Syed Atique Hussain Naqvi, Toronto, Canada  As global business and economic dynamics constantly evolve, countries are increasingly diversifying their trade relations to protect their interests. The Arab world is no exception. Economic powerhouses like Saudi Arabia and the United Arab Emirates (UAE) have been expanding their strategic business partnerships with major economies such as China, Russia, and India, while maintaining strong ties with traditional partners like the European Union, the United States, and other nations in the Americas. The leadership in these Arab nations envisions rapid economic growth over the next 10 to 20 years, which will require additional partners to drive foreign investment and trade. This forward-looking approach is evident in the UAE’s recent involvement with BRICS. During a visit to Russia for the BRICS Summit in Kazan...

Coronavirus has affected people across the world and the virus has spread quickly. The impact of coronavirus, COVID-19, on global economy would be relatively minor and short-lived as the Chinese economy would return to normal in the second quarter of 2020, said the managing director of International Monetary Fund in Saudi Arabia's capital  city Riyadh. IMF's Kristalina Georgieva made a statement at the G20 Finance Ministers and Central Bank Governors meeting. “While the impact of the epidemic continues to unfold, the World Health Organization’s assessment is that with strong and coordinated measures, the spread of the coronavirus in China and globally can yet be contained and the human tragedy arrested. We are still learning about how this complex virus spreads and the uncertainties are too great to permit reliable forecasting. Many scenarios can play out, depending on how quickly the virus is contained and how fast the Chinese and other affected economies return to n...

POLITICAL POLICY MAKERS ARE HEAVILY FOCUSED ON DOMESTIC ISSUES IGNORING GLOBAL PROBLEMS The world is entering into a dangerous zone, where the ill-effects of the current government policies will be seen in the decades to come, reveals the Political Risk Outlook 2019 by Eurasia Group. The New York-headquartered political risk consultancy identifies the most challenging political and geopolitical trends and stress points for global investors and market participants in 2019, as well as a few red herrings-issues that, despite media attention, are unlikely to pose a significant threat or drive instability in the coming year. Eurasia Group President Ian Bremmer and Chairman Cliff Kupchan presented this year’s report. “The political risk outlook for 2019 is reasonably good,” said Eurasia Group President Ian Bremmer. “But nearly all of the geopolitical developments that matter are now trending in the wrong direction. That’s unprecedented in my lifetime. These issues, if left unaddr...