What Is Going on Between the Gulf Countries and Egypt?
Economics 101: Interpreting the Business Cycle
A business cycle is the movement of total economic activity (GDP) around a long-run trend. When total economic activity grows faster than its long-term trend, it is called a boom, and the reverse is a recession.
An Economist Explains the Work of This Year’s Winners of the Nobel Prize in Economics
The two men who on Monday received the 2016 Nobel prize in economics, Oliver Hart and Bengt Holmstrom, made key contributions to contract theory, including the “principal-agent” (PA) model.
Paying Wages on Time Is Good Ethics – and Also Good Business
The UAE implemented a decree on October 3 that helps workers receive their wages on time by specifying punishments for tardy employers. This is a welcome move for a country where more than 90 per cent of the labour force is foreign, although maybe not for the reasons that you would think.
Economics 101: Privately Funded Research and Development Leads to the Most Useful Innovation
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?
Aramco IPO Could Improve Its Governance and Management
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.
The Strategic Importance of Establishing a Saudi-gulf Lobby in the United States
The Failed Coup in Turkey: an Opportunity to Strengthen the Economic Relations Between Turkey and the GCC
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.
Nato and Regional Crises: a Challenge or an Opportunity?
Public Vs. Private Sector Employment
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.
