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Economy Of The Middle East
The economy of the Middle East is very diverse, with national economies ranging from hydrocarbon-exporting rentiers to centralized socialist economies and free-market economies. The region is best known for oil production and export, which significantly impacts the entire region through the wealth it generates and through labor utilization. In recent years, many of the countries in the region have undertaken efforts to diversify their economies. Overview An International Monetary Fund (IMF) analysis of growth determinants indicates that greater integration with international markets could provide a substantial boost to income and gross domestic product (GDP) growth. According to Bayt.com's Middle East Consumer Confidence Index, March 2015: While close to a quarter (24%) of respondents indicated that their country's economy had improved over the previous 6 months, over one third (35%) thought that it had gotten worse. Those in Syria were the most negative about their c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
GDP (nominal)
Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is often revised before being considered a reliable indicator. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful when comparing living standards between nations, while nominal GDP is more useful comparing national economies on the international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. The ratio of GDP to the total population of the region is the per capita GDP (also called the Mean Standard of Living). GDP definitions are maintained by a number of national and international economic organizations. The Organis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Palestinian Territories
The Palestinian territories are the two regions of the former British Mandate for Palestine that have been militarily occupied by Israel since the Six-Day War of 1967, namely: the West Bank (including East Jerusalem) and the Gaza Strip. The International Court of Justice (ICJ) has referred to the West Bank, including East Jerusalem, as "the Occupied Palestinian Territory", and this term was used as the legal definition by the ICJ in its advisory opinion of July 2004. The term occupied Palestinian territory was used by the United Nations and other international organizations between October 1999 and December 2012 to refer to areas controlled by the Palestinian National Authority, but from 2012, when Palestine was admitted as one of its non-member observer states, the United Nations started using exclusively the name State of Palestine. The European Union (EU) also adopts the term occupied Palestinian territory, with a parallel term Palestinian Authority territories also occasion ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
High Income Economy
A high-income economy is defined by the World Bank as a nation with a gross national income per capita of US$12,696 or more in 2020, calculated using the Atlas method. While the term "high-income" is often used interchangeably with "First World" and "developed country," the technical definitions of these terms differ. The term "first world" commonly refers to countries that aligned themselves with the U.S. and NATO during the Cold War. Several institutions, such as the Central Intelligence Agency (CIA) or International Monetary Fund (IMF), take factors other than high per capita income into account when classifying countries as "developed" or "advanced economies." According to the United Nations, for example, some high-income countries may also be developing countries. The GCC countries, for example, are classified as developing high-income countries. Thus, a high-income country may be classified as either developed or developing. Although the Vatican City is a sovereign state, it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start, its first loan was to France in 1947. In the 1970s, it focused on loans to developing world countries, shifting away from that mission in the 1980s. For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its loan strategy is influenced by the Sustainable Development Goals as well as environmental and social safeguards. , the World Bank is run by a president and 25 executive directors, as well as 29 various vice ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Human Development Index
The Human Development Index (HDI) is a statistic composite index of life expectancy, education (mean years of schooling completed and expected years of schooling upon entering the education system), and per capita income indicators, which is used to rank countries into four tiers of human development. A country scores a higher level of HDI when the lifespan is higher, the education level is higher, and the gross national income GNI (PPP) per capita is higher. It was developed by Pakistani economist Mahbub ul Haq and was further used to measure a country's development by the United Nations Development Programme (UNDP)'s Human Development Report Office. The 2010 Human Development Report introduced an Inequality-adjusted Human Development Index (IHDI). While the simple HDI remains useful, it stated that "the IHDI is the actual level of human development (accounting for inequality), while the HDI can be viewed as an index of 'potential' human development (or the maximum l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manama
Manama ( ar, المنامة ', Bahrani Arabic, Bahrani pronunciation: ) is the capital and largest city of Bahrain, with an approximate population of 200,000 people as of 2020. Long an important trading center in the Persian Gulf, Manama is home to a very diverse population. After periods of Portuguese Empire, Portuguese and Persian control and invasions from the ruling dynasties of House of Saud, Saudi Arabia and House of Al Said, Oman, Bahrain established itself as an sovereign state, independent nation in 1971 after a period of British hegemony. Although the current twin cities of Manama and Muharraq appear to have been founded simultaneously in the 1800s, Muharraq took prominence due to its defensive location and was thus the capital of Bahrain until 1923. Manama became the mercantile capital and was the gateway to the main Bahrain Island. In the 20th century, Bahrain's oil wealth helped spur fast growth and in the 1990s a concerted diversification (marketing strategy), d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tourism
Tourism is travel for pleasure or business; also the theory and practice of touring (other), touring, the business of attracting, accommodating, and entertaining tourists, and the business of operating tour (other), tours. The World Tourism Organization defines tourism more generally, in terms which go "beyond the common perception of tourism as being limited to holiday activity only", as people "travelling to and staying in places outside their usual environment for not more than one consecutive year for leisure and not less than 24 hours, business and other purposes". Tourism can be Domestic tourism, domestic (within the traveller's own country) or International tourism, international, and international tourism has both incoming and outgoing implications on a country's balance of payments. Tourism numbers declined as a result of a strong economic slowdown (the late-2000s recession) between the second half of 2008 and the end of 2009, and in consequence of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manama Fog
Manama ( ar, المنامة ', Bahrani pronunciation: ) is the capital and largest city of Bahrain, with an approximate population of 200,000 people as of 2020. Long an important trading center in the Persian Gulf, Manama is home to a very diverse population. After periods of Portuguese and Persian control and invasions from the ruling dynasties of Saudi Arabia and Oman, Bahrain established itself as an independent nation in 1971 after a period of British hegemony. Although the current twin cities of Manama and Muharraq appear to have been founded simultaneously in the 1800s, Muharraq took prominence due to its defensive location and was thus the capital of Bahrain until 1923. Manama became the mercantile capital and was the gateway to the main Bahrain Island. In the 20th century, Bahrain's oil wealth helped spur fast growth and in the 1990s a concerted diversification effort led to expansion in other industries and helped transform Manama into an important financial hub in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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