China’s role aids Egypt’s army more than the economy

Significance China’s ability and willingness to build and finance mammoth initiatives of questionable national value has made it a convenient partner for President Abdel Fatah el-Sisi. Impacts Both sides will tout projects that reflect the personal visions of their leaders. Private-sector Egyptian companies will be crowded out of the market by military-led enterprises. Egypt’s main economic partners will remain GCC countries, Europe and the United States for the foreseeable future.

Subject Innovation in artificial intelligence-enabled defence systems outside the United States. Significance Besides the United States, China and Russia seek a geostrategic advantage through artificial intelligence(AI)-enabled defence. European governments are also waking up to the potential of such systems, but their efforts are splintered. Impacts The feverish pace of development in China suggests its defence systems may be unreliable or unsafe initially. Western researchers will be more bound by ethical barriers than their Russian and Chinese counterparts. Private sector responses will balance commercial gain and reputational risk.


Significance The hacking of emails of the Democratic National Committee (DNC) and Hillary Clinton’s campaign chair has touched off national discussion in the United States on Russia’s involvement and -- along with other high-profile cyberattacks believed to have been carried out by states such as those on Sony in 2014 and Saudi Aramco in 2012 -- have shone a spotlight on the complexity of attribution in cyberspace. Impacts Companies will increasingly find themselves in the crossfire of disputes between states. Governments will need to not only ramp up their country’s defences but also work with the private sector to ensure their cyber readiness. Societies may experience a challenge to democratic processes as states use cyber instruments to influence foreign elections.


Significance Facing the region’s largest coronavirus outbreak, the authorities belatedly closed schools, banned all religious and social gatherings and asked people to stay indoors. However, since mid-April, they have loosened restrictions, reflecting the difficulties of the private sector as well as the government’s limited capacity to provide relief. Impacts The economic pressure from COVID-19 on top of sanctions may force Tehran to divert assets away from the conflict in Syria. Finance for operations in Iraq will be prioritised as a core Iranian interest as well as an arena to combat the United States. The central bank may be forced to print money to finance increased health spending and social security, risking extremely high inflation.


Significance The countries have historically had strong ties. However, Delhi’s growing partnership with Washington and burgeoning Moscow-Beijing relations are complicating factors, given the rivalry between Russia and the United States, and between India and China. Impacts Russia’s burgeoning ties with India’s enemy, Pakistan, will not undermine the Moscow-Delhi relationship. India’s private sector will remain reluctant to invest in Russia, fearing US sanctions. Delhi will over the next five years initiate 2+2 dialogues with individual ASEAN and EU members.


Subject Prospects for defence and security in the second quarter. Significance Spending patterns on military expenditures will continue to shift, with Russia and China increasing spending while European nations stagnate. However, the United States will continue to have by far the largest military expenditures for the foreseeable future.


2018 ◽  
Vol 10 (2) ◽  
pp. 189-209
Author(s):  
Umayal Kasi ◽  
Junaina Muhammad

Purpose This paper aims to compare and analyse the aspects of Shariah screening methodologies within the selected Gulf Cooperation Council (GCC) countries as well as comparing the methodologies with the USA, and to examine how Shariah screening methodologies affect financing and investing activities of a firm. Design/methodology/approach Shariah screening methodologies within the selected GCC countries and between the GCC countries and the USA are compared on the basis of the data collected from secondary sources. Findings Design, qualification and Shariah governance set the Shariah screening methodologies within the GCC countries apart. Feasibility, duration, economic viability and funds required differentiate these Shariah screening methodologies between the GCC countries and the USA. Shariah screening methodologies implied in the USA is more stringent than in the GCC countries. Research limitations/implications The suggestions in this study include using a longer research timeline, examining many more number of countries’ Shariah screening methodologies and exploring other types of Shariah screening methodologies. Practical implications The possibility of generalising the implementation of strict and uniform Shariah screening methodologies across all the country-specific Shariah indices amongst Muslim nations, globally, is likely to benefit all the Muslim countries, by strengthening the understanding, interaction and economic co-operation amongst these countries. Social implications People’s needs can be tended to if Maqasid Al-Shariah (objectives of Shariah) is achieved through flexibility, dynamism and creativity within the social policy. Originality/value Aspects of Shariah screening methodologies are compared and contrasted within the selected GCC countries as well as between the GCC countries and the United States and the role of Shariah screening methodologies is examined in order to determine the extent of what is Shariah-Compliant and what is Non-Shariah Compliant for a firm.


Significance The United States and Iran sent their foreign ministers and 74 other countries also participated, along with many multilateral organisations, NGOs and private sector representatives. However, pledges were vague and even the most generous interpretation of aggregated funds -- 30 billion dollars, mainly in credit and investment pledges, not grants -- fell far short of the 60-88 billion dollars estimated to be needed. Impacts The relatively low level of pledges could harm the prime minister’s electoral prospects. Investments could flow to more prosperous areas rather than those worst affected by war. A failure to rebuild the economy in Sunni areas could catalyse future extremism.


Significance Kim's departure creates unforeseen turbulence at the institution, whose corporate commitments around climate change, gender and renewable energy are anathema to the current US administration. Impacts If the US nominee is an ideological conservative, World Bank relations with either the United States or other shareholders will be damaged. Short-term impacts on Bank operations will be minimal. Kim’s belief that he can affect “global issues” more in the private sector emphasises the importance of the Bank reviving its global role.


Significance Both the Thai and Chinese militaries are participating. The Thai junta -- keen to bolster strategic cooperation with Beijing and to attract Chinese infrastructure investment -- has made much of Chinese participation in the exercise, to the consternation of Japan and Thailand's long-standing treaty ally the United States. Beijing, for its part, seeks to build alliances in South-east Asia and capitalise on Thailand's market and investment opportunities. Impacts US firms are unlikely to be marginalised in the Thai market, even though their presence in Thailand is limited. Security relations will dominate US-Thai relations for the foreseeable future. Japan will continue to boost security relations with South-east Asian partners.


Significance The passenger car market will expand by 2.7% in 2016, according to private sector estimates, with growth evenly spread between the BRICS, Europe and the United States. The industry will focus on three transformations: the push into emerging markets (EMs), exploiting the potential of data and connectivity and managing the regulatory drive towards cleaner fuels. Impacts Diesel will remain a viable fuel in European markets. However, tougher testing and lower filtering margins will strengthen the case for further hybridisation of new models. The limited response from European regulators risks diminishing the incentives for domestic manufacturers to make changes early. Volume manufacturers are squeezed between low-cost manufacturers and the premium brands when it comes to connectivity.


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