Results for Category: Economy
According to Business Monitor International, a research firm, diversity is the key to such a development, with incentives to build mid-range hotels and improve the safety reputation of the Emirates, high standards of accommodation and attractive cultural heritage, adaptation to middle-class travellers from Asia and Africa and short-stay visitors. However, investment in the sector was $7.1 billion and it is expected to reach $20.3 billion in the next 19 years (11.2 per cent).
A radical economic transformation requires serious compromise from every segment of the establishment – a compromise that those currently benefitting from the corrupt system are unlikely to make. What is certain is that the status quo, which has left many Iranians desperate, will pave the way for periodic outbreaks of dissent that could get out of control at any time.
Although the US has not officially withdrawn from the deal, the signals from Washington are unsettling for potential foreign investors. Yet despite these challenges, one sector in Iran is thriving: renewable energy. Iran is one of the most advanced countries in the region in its development of renewable energy, mainly hydro-power schemes.
Foreign investment was trending up again in the second quarter of 2017, but it remains to be seen how investors will react to political developments. The political turmoil, which has seen the arrests of dozens of princes, ministers and businessmen in what has been presented as an anti-corruption sweep led by the crown prince, prompted an increase in oil prices but also may have unsettled potential investors
The gas discoveries, notably Zohr, are changing the country’s economic prospects. Egypt started to limit its orders for LNG shipments in 2017 and those planned for 2018. By early 2019, it hopes to break even, and in the years after it plans to become a net gas exporter again. However, The gas discoveries may solve Egypt’s immediate cash crisis, but it will take more to build a resilient economy.
The iceberg project will help support the international effort to combat global warming in many ways, including “providing a new drinking water resource to the world; making the world greener by utilizing the harvested water for farming the Empty Quarter sand desert; reducing pollution from desalination; and lowering the sea level caused by melt water”.