The World Bank estimates the funding gap for micro, small and medium enterprises is $5.2 trillion across some 65 million MSMEs scattered across 128 countries the global institute examined
World Bank
diversity and inclusion
3 steps towards the gender-balanced workforce we all deserve
As the UAE continues its efforts towards equity, diversity, and inclusion – and other countries in the region try to replicate its progress – here are three ways in which regional firms can overcome complexities as they look to spur gender equality
district cooling
UAE’s Tabreed inks deal to invest $400m in Indian district cooling plan
Partnership with the International Finance Corporation outlines five-year investment programme in India
commodity
Why consumers may escape global rise in price of raw materials
Expert says industries including the auto sector cannot afford to pass on increasing costs during Covid recovery phase
AB In Focus
AB Talks: Covid-19 is wake up call for development finance institutions
Covid-19 and global warming have exacerbated global poverty, with women and children disproportionately affected. Around 9 percent of the world population lives in poverty, with millions lacking access to education and jobs, clean water and infrastructure.
Development Finance Institutions
Why development finance needs private sector help
Traditionally, development finance institutions, like the World Bank and various regional and country-level development banks, have channelled money to troubled high-risk markets, but it’s not enough
Arab Gas Pipeline
Egyptian gas to reach Lebanon by year-end, says minister
Gas will help feed the Deir Ammar power plant in Lebanon, which has a capacity of 450MW
covid-19
Kuwait’s economy to grow 2.4% this year, according to World Bank report
Economies of the GCC countries predicted to 2.2% in 2021, bouncing back from a 4.8% contraction last year
Saudi ministry of tourism
Saudi Arabia pledges $100m to World Bank tourism fund
Tourism Community Initiative is a fund which aims to raise a total of $500 million in its five-year first phase
expat remittances
UAE-India remittances flow slumps by 17% as Covid fuels 2020 job losses
World Bank says India saw remittances fell by just 0.2% in 2020 overall, as resilient flows from the US and other host countries offset decline
expat remittances
UAE-Pakistan remittances grow despite depressed global outflows
The World Bank estimates that global remittances fell by seven percent in 2020, but Pakistan and Bangladesh buck the trend
Beirut port
World Bank draws up recovery priorities for blast-hit Port of Beirut
42-page World Bank document aims to provide guidance to policy makers in Lebanon on how best to undertake the rebuilding of the port
Cash-strapped Lebanon
1.7 million fall into poverty amid ongoing Lebanon crises
Study by the World Bank and the UN Refugee Agency rules out any economic recovery in Lebanon next year
Coronavirus Pandemic
Video: What do students in the Middle East think about e-learning?
According to the World Bank, more than 103 million students in the Middle East and North Africa region have been unable to attend school since the Covid-19 pandemic began.
coronavirus
Video: India is promised $1 billion to fight Covid-19 pandemic as deaths rise
The World Bank has pledged one billion dollars to India to help tackle the coronavirus pandemic there. The city of Mumbai has some of the highest number of cases in India, with many people living in congested slums.
Abraaj Capital
Revealed: how Abraaj execs decided which investors to pay
Internal memos reveal how the now defunct Abraaj Group used colour coding to prioritis investors depending on how much noise they made
Ease of Doing Business Index
Revealed: the service fees being waived, cut by UAE’s Ministry of Economy
A list of 115 Ministry of Economy service fees being removed or reduced is detailed by state news agency WAM