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...

  Business-based peace initiatives to ease tensions, says UAE business leader Syed Atique Hussain Naqvi, Riyadh, Saudi Arabia Tensions arising from conflicts like the Ukraine-Russia war and the Gaza crisis are affecting investor confidence and causing economic challenges in countries like Jordan, Egypt, and Israel, particularly in sectors like tourism and technology, Iyad Malas, Group CEO of Dubai-based Al Ghurair Group, told Executive Editor of TRENDS media Syed Atique Hussain Naqvi in an interview. Speaking on the sidelines of the annual Future Investment Initiative (FII) summit in Riyadh, he highlighted the significance of the event, emphasizing its role in uniting regional and global participants, especially in light of current geopolitical challenges. He noted that such gatherings are vital for fostering connections and potentially promoting peace through business. Malas also stressed the importance of digitization and technological advancements in the business worl...

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...

Kuwait-headquartered logistics firm Agility released its 11th annual Emerging Markets Logistics Index this week The UAE, Saudi Arabia, and Qatar are among the top 10 logistics markets in the 2020 Agility Emerging Markets Logistics Index. China and India lead the list, in first and second places, respectively. The Index, which is based on a survey of 780 supply chain professionals across 50 countries, also revealed that a big majority (64 percent) of respondents see a global recession in 2020, while only 12 percent believe that a recession is an unlikely event this year. Click here for the full story .

First 3D printed office structure in Dubai Few industries are witnessing a widespread adoption of 3D printing technology, which represents only 0.1 percent of the total $13.1 trillion value added through the global manufacturing industry. Advisory firm Moody’s Investors Service says that 3D printing technology is used in niche applications and will help boost companies’ profitability and market shares in a limited number of industries. Click here to read from the original article on Zawya news website - a Thomson Reuters company.

Khaled Hussain Biyari says that new telecom models are important for the Fourth Revolution. "We see our role in Saudi Arabia and in the markets we operate in as a major enablement partner for the government or for the different industries that we deal with. We are working and putting [in]the right models to ensure that the infrastructure needed is there." The interview was published in the March 2016 issue of the Dubai-based magazine TRENDS - An International Magazine on Arab Affairs. Below is the jpeg file of the TRENDS magazine.

Labor reform programs in Saudi Arabia are bearing positive results, says Ibrahim Abdulaziz Al Assaf, Minister of Finance, the Kingdom of Saudi Arabia. "If there are some problems, we’ll fine tune Saudization programs. It is an initiative designed for a unique situation in Saudi Arabia where we have a large number of non-Saudi workers." The interview was published in the March 2014 issue of the Dubai-based magazine TRENDS - An International Magazine on Arab Affairs. Below is the jpeg file of the TRENDS magazine.

Projects like the King Abdullah Economic City (KAEC) are not only driving Saudi Arabia’s infrastructure sector, but economic business as a whole, says KAEC’s Fahd Al Rasheed. "We opened a school last year and we are opening a hotel next month. Also, we are focusing on the development of 4,000 units now for residential development for all income levels." The interview was published in the March 2013 issue of the Dubai-based magazine TRENDS - An International Magazine on Arab Affairs. Below is the jpeg file of the TRENDS magazine.

Ministries are working to help create a thriving industry and job market, which will encourage young Saudis to take up private sector jobs, says Tawfiq bin Fawzan Al Rabiah. "There are several incentives for the private sector to recruit more Saudis. Within the past two years more than 300,000 Saudis were employed by the private sector and we expect this number to grow even at a much faster rate." The interview was published in the March 2013 issue of the Dubai-based magazine TRENDS - An International Magazine on Arab Affairs. Below is the jpeg file of the TRENDS magazine.

Saudi Arabia has launched several programs to reduce the unemployment rate, says Ibrahim Abdulaziz Al Assaf, Minister of Finance, Kingdom of Saudi Arabia. "We do not differentiate at all between men and women and we are providing loans and facilities for those who have ideas, whether they are men or women", he said in 2013. The interview was published in the March 2013 issue of the Dubai-based magazine TRENDS - An International Magazine on Arab Affairs. Below is the jpeg file of the TRENDS magazine.

The world’s biggest petrochemical maker is gearing up for robust economic growth and vast expansion projects in Saudi Arabia, said Mohammed H. Al Mady. "SABIC has undertaken a great development drive with sustainability as one of our strategies.", he said in 2011. The interview was published in the March 2011 issue of the Dubai-based magazine TRENDS - An International Magazine on Arab Affairs. Below is the jpeg file of the TRENDS magazine.