Less than 1 per cent of the UAE’s GDP is allocated to research and development (R&D), compared with the world average of more than 2 per cent. Economists agree that innovation is critical to economic growth, so how can the GCC countries become more innovative?
Research & Analysis
In recent years, there has been a growing discussion about the security of sea lanes. This is in light of the fierce clashes with terrorist groups on land, which forced them to target shipping lanes which are the main routes for the movement of world trade.
In early 2016, Prince Mohammed bin Salman, the deputy crown prince of Saudi Arabia, declared that the Saudi government was considering an initial public offering (IPO) for a minority of Aramco’s shares.
Today the Gulf Cooperation Council States find themselves surrounded by a region plagued by a growing number of threats. The GCC states are embroiled in a difficult conflict in Yemen, Iraq is on the constant verge of collapse, Syria has collapsed and Jordan and Lebanon face immense pressures…
A concise monthly publication that covers the headline Bahraini economic indicators, and the most important Bahraini business, financial, and economics news.
Turkey has exceeded the apprehension phase of the failed coup which occurred on the evening of the 15th of June. The elected government was able to act wisely and to regain control in a matter of hours.
The Iranian official position intermittently triggers a controversy in the media about the name of the “Arabian Gulf”. The issue is not confined to insisting on marking the Gulf as Persian, but goes beyond the name to include nationalist dimensions and political implications centered on the pursuit of regional hegemony.
Public sectors are important employers in all economies, typically accounting for about 20 per cent of total jobs. Compensation in government organisations is structured quite differently to what is found in the private sector: it is usually higher, when one takes into account the education and experience of workers; pay scales are very rigid; and, there is almost a complete absence of performance-related pay.