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    Local, Italian companies partner up to establish food retail chain in Egypt

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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          Saudi to be among world’s big leisure tourism hubs by 2030

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          Ministry signs agreement to support Oman’s honey industry

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          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

          Oman inks pack to bolster role of SMEs in food systems

          MAFWR, Port of Duqm sign MoU

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Local, Italian companies partner up to establish food retail chain in Egypt

            Local, Italian companies partner up to establish food retail chain in Egypt

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            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Miral’s premier Abu Dhabi waterfront project work on track

            Miral’s premier Abu Dhabi waterfront project work on track

            Aecom wins Neom utilities infrastructure design contract

            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              GCC on right track toward ‘sustainable development’

              SG

              August 18, 2014
              in Economy
              0

              The use of technology in the public sector, the increasing appetite for alternative investments, achieving capital efficiencies and cost savings in the workplace and measuring national performance via non-traditional indicators are all issues that are being widely talked about in the Middle East, as businesses struggle to strive amid unstable climates, Deloitte said in the  latest quarterly publication of its Middle East Point of View (ME PoV) which includes a special insert on the Social Progress Index.

              The index is one of the most recent and noteworthy measurements of a country’s development.

              Rashid Bashir, head of Strategy Consulting at Deloitte Middle East and Steve Almond, global chairman of Deloitte Touche Tohmatsu Limited, provide in-depth analyses of the SPI and its implications for the Middle East North Africa region.

              The most commonly used measures of development and national performance in an economy have traditionally been gross domestic product (GDP) and associated indicators.

              The Social Progress Index (SPI) consists of a comprehensive measurement framework for the social and environmental performance of a nation. Published by the non-profit Social Progress Imperative in collaboration with Deloitte, and released at the Skoll World Forum on Social Entrepreneurship, this year’s SPI studies 132 countries, of which 8 from the MENA region, ranked as follows: UAE 37th, followed by Kuwait in the 40th position, Saudi Arabia 65th, Jordan 75th, Lebanon 83rd, Egypt 84th, Iraq 118th and Yemen 125th.

              In MENA, GCC countries have made significant strides for the region in providing basic needs such as housing, education, housing and utilities. However, for the Middle Eastern countries included in the SPI, the greatest challenges observed are in providing social opportunity for citizens and residents. A number of factors weigh in on this dimension, such as the unique political, religious and cultural characteristics which influence some of the outcomes measured such as Personal Freedom. Ecosystem sustainability is also an area of concern in the GCC where fresh water and biodiversity are more scarce, and high emissions are a by-product of extensive industrial development.

              “The first observation made from the SPI findings in the Middle East is that many resource-rich countries do not perform as well on social and environmental indicators when compared to countries of similar per capital wealth which are not dependent on natural resources as a primary source of income. Saudi Arabia, the UAE, Kuwait, Iraq, Iran, Russia, Kazakhstan and Angola all have a notable disparity between their SPI and GDP per capita rankings,” Bashir said.

              “The second observation is that there is a weak correlation between government spending and SPI scores, which implies that governments inclined to improve their scores will need to go beyond stimulus, spending and investment programs to improve social welfare”, he adds.

              “The GCC has started to take heed in the area of sustainability, where new policies and programs aimed at conservation and sustainable development are increasingly popular.”

              The report also explores other hot topics in the region, such as alternative investments, technology in the Public Sector, and capital efficiencies in the workplace, among others.

              Over the past five years, investors have developed an increased appetite for alternative investments, due largely to their need to achieve high returns with less vulnerability as to macro-economic risks associated with quoted stocks. Badr El Hassan, principal, Deloitte Middle East, explained in his article “Challenges to auditing alternative investments” how a growing appetite for alternative investments by Middle East businesses can prove challenging to audit.

              In “Technology gone mad?,” Raid Shahin, director, and Youmna Saloumi, consultant at Deloitte Middle East Technology Consulting explain how the public sector, in wanting to provide consumer-centric and efficient services throughout the Middle East, is adopting new technology services and implementing new IT solutions to achieve its strategic objectives.

              The alternative way of achieving efficiency in the workplace is studied by Ben Hughes, director, Deloitte corporate Finance Limited (regulated by the Dubai International Financial Center), who finds that approximately 80 percent of corporate expenditure are due to staff costs. He then suggested that to save money, one has to operate more efficiently.

              Similarly, Chris Digby, senior director, Muhammad Razeen, senior manager and Syed Ammar Zaheer, senior consultant at Deloitte Middle East provide some solutions to the challenges of keeping spending and schedule under control as companies invest heavily again in “bigger and better” projects.
              SG
              18 August

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