Earlier this year, the Metropolitan Policy Program and the Center on Children and Families at Brookings released a study on multidimensional poverty and race in America. The study shows why it’s important to look at poverty through the dimensions of low household income, limited education, lack of health insurance, concentrated spatial poverty, and unemployment, and why we should consider ways to de-cluster and reduce the links between them.
55 is the magic number. Sure - 175 parties (174 countries plus the European Union) signed the Paris Agreement in April in New York City earlier this year. But this alone is not enough. It matters not only how many countries signed the document, but also how many countries ultimately join the Paris Agreement by ratifying it.
Gulf banking markets may have entered an important phase of consolidation, with the potential to dramatically reshape both the role and the intermediation capacity of the industry. A few days ago, two large banks in the UAE, National Bank of Abu Dhabi and First Gulf Bank, agreed on a tie-up to create a national champion and regional powerhouse with $170 billion in total assets. In Oman, Bank Sohar and Bank Dhofar are in advanced merger talks. Bank mergers are expected to take place in Bahrain and Qatar as well.
The protracted downward trend in oil prices is threatening economic growth and fiscal sustainability in the region. This is having an impact on the banking systems. Banks are increasingly facing pressure on liquidity in the face of both private and public deposit outflows. This coupled with a low interest rate environment in the context of pegged currencies is eroding margins. Capital buffers are strong yet asset quality may deteriorate if oil prices remain low for a prolonged period and economic growth decelerates further. Therefore, in a context largely characterized by fragmented markets, consolidation may help achieve efficiency gains and ultimately preserve financial stability.
However, it is important that banking consolidation in the Gulf does not come at the detriment of competition. International experience shows that healthy bank competition generally promotes access to finance and improves the efficiency of financial intermediation, without necessarily eroding the stability of the banking system. Bank competition in the region is traditionally weak largely due to strict entry requirements, restrictions to bank activities, relatively weak credit information systems, and lack of competition from foreign banks and nonbank financial institutions. While increased market concentration does not necessarily imply greater market power, there is a risk that the current and prospective wave of industry consolidation may have long-lasting negative effects on competition if left unchecked.
The Middle East and North Africa region has never faced such significant stress on its ageing infrastructure like it does today, with one of the most telling being the substantial increase in the need for electricity. It is estimated that electricity demand in the MENA region will increase by 84% by 2020, requiring an additional 135 GW of generation capacity and an investment of US$450 billion. The quest for new approaches to ensure adequate and reliable supply of electricity in the region is more urgent than ever before.
The Middle East and North Africa (MENA) is a region of extremes. It has the highest unemployment rate in the developing world, with the rate for women and young people double the average. MENA economies are among the least diversified, with the Herfindahl index—a measure of the concentration of exports in a few commodities—ranging between 0.6 and 1 for most countries. The region had the highest number of electricity cuts per month. The ratio of public- to private-sector workers is the highest in the world. While, until recently, the region had been averaging 4-5 percent GDP growth, that average masked a highly volatile growth path.
There were over 1,000 Lebanese youths together in one large auditorium, all from different communities, confessions and party affiliations. Some were chanting the Lebanese national anthem, waving the country’s flag. Others were holding hands, and screaming every time their pictures or that of their new friends appeared on a large screen. These young men and women all had one thing in common: they put aside their different socio-economic, religious, and political backgrounds and gave up their spare time to jointly identify and implement community projects across Lebanon.
France has just hosted COP21 to a very successful conclusion: the 2015 Paris Agreement. This achieved consensus among 196 countries on the most complex and challenging global issue of our time – climate change. It reconciled the widely different perspectives and interests of developing and developed countries, the North-South divide which has been at the heart of the failure to reach climate change agreement for twenty years. It makes global trade negotiations look easy by comparison. France should have every confidence in its diplomatic and political ability. Chapeau!
In the build up to the Arab uprisings, data was doing its part to deceive those who follow the region closely. Tunisia and Egypt provide great examples. Both nations closed the first decade of the century implementing the kind of classic economic reforms often praised by western-based multilateral and international organizations. Extremely qualified, intelligent and well-meaning experts on both countries took an objective look at reforms, GDP trajectories and other traditional metrics, such as infant mortality rates, poverty reduction, etc., and concluded that these countries, while not perfect, were moving forward along a path of increasing correction. A few weeks later, both nations were in complete political upheaval.
The world is fast. The three biggest forces on the planet—globalization, Mother Nature, and Moore’s Law (the exponential growth of computing power and, so, of digitalization)—are all surging so fast at the same time that the most critical challenge for the planet now is knowing how to plan for them.
She is described as having strong ideas. A spirited and energetic girl who dreams of a big future, Shams helps children and encourages them to learn and play.
But Shams is not a real child. She is a Muppet and one of the most popular fictional characters in the children’s show Iftah Ya Simisim, the Arabic version of the popular, long-running US children’s show Sesame Street, which was introduced in the Arab world in the 1980s.
- Gender Equality and Socia Inclusion
- gender equality
- Gender and Equality
- women empowerment
- Girl's Education
- Children's rights
- Children's Education
- Middle East and North Africa
- West Bank and Gaza
- Yemen, Republic of
- United Arab Emirates
- Syrian Arab Republic
- Saudi Arabia
- Egypt, Arab Republic of