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?
Economics
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.
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.
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.
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.
In the wake of falling oil prices and regional instability, the Gulf Cooperation Council (GCC) countries are looking for new economic opportunities. Generally speaking, experts encourage economic integration, because specialization in production, and operating in larger markets, constitute two of the most important sources of prosperity.
In the wake of falling oil prices and regional instability, the Gulf Cooperation Council (GCC) countries are looking for new economic opportunities. Generally speaking, experts encourage economic integration, because specialization in production, and operating in larger markets, constitute two of the most important sources of prosperity.
The UAE offers economic opportunities to the rich and poor. For those with modest means, trying to move up the ladder often requires incurring substantial debt at the outset. That is why, according to one recent estimate, the average UAE resident owes creditors Dh41,000.
The UAE offers economic opportunities to the rich and poor. For those with modest means, trying to move up the ladder often requires incurring substantial debt at the outset. That is why, according to one recent estimate, the average UAE resident owes creditors Dh41,000.