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November 2030 submitted by
Well, uh, this sucks. Just a few short months after the Arab States of the Gulf finally unified, the world economy decided to explode
. This is what we in the business of economics call a very bad thing.
The effects across the FAS have been relatively disparate. The United Arab Emirates, easily the most diversified economy in the region, has been the least heavily impacted (though it's still bad
). Diversification programs in Oman and Bahrain have also helped to stave off some of the worst impacts of the crisis, though they haven't been as successful in avoiding the effects as the UAE. Qatar and Kuwait, still almost entirely
reliant on hydrocarbon exports, are not
happy with this turn of events. Falling global oil prices, though propped up a little by a sudden increase in demand from China
, have left their economies struggling much more than the rest of the country, and in desperate need of assistance from the better off parts of the country.
One major pain point in this crisis has been the FAS's economic ties to the United States. While most of the FAS's trade is with Asia, Africa, and Europe, the US financial system still plays a crucial role in the FAS. The stability of the US Dollar has long been used to protect the economies of the Gulf using their vast Forex reserves (earned from oil sales) to peg their currency to the US Dollar. With the US Dollar in complete collapse, the value of the Khaleeji is plummeting right along with it, causing a significant degree of harm to the FAS's economy.
To help offset this harm (and to decouple the FAS's economy from a country that the FAS is starting to view as maybe not the most reliable
economic partner), the Central Bank in Dubai has announced that the Khaleeji will switch its peg from the US Dollar to a basket of foreign currencies (the Euro, the Pound Sterling, the Swiss Franc, the US Dollar, and the Japanese Yen). The FAS hopes that this will help to salvage the Khaleeji's value, better protecting the economy from the collapse of the dollar-based international financial system. Rumor has it that the Central Bank is discussing the idea of unpegging the Khaleeji entirely and allowing it to float freely, but so far, the Central Bank has made no moves towards floating the Khaleeji. Crises suck. They shatter the status quo and throw established norms and procedures into chaos. No one really wins during a crisis.
But in another sense, they're a double-edged sword. The status quo is often a repressive entity, reinforcing existing hierarchies and preventing dramatic shifts in the order of things. Chaos breaks that apart, giving the ingenuitive and the entrepreneurial on opportunity to better their lot in ways they otherwise could not.
Put differently: chaos is a ladder, and the FAS intends to be the one climbing it. As the largest economy in the Arab World (and one of the world's 20 largest economies) by both nominal GDP and GDP per capita (by a significant margin--it's probably either Saudi Arabia or Egypt in second place in nominal GDP, and definitely Saudi Arabia in second place in GDP per capita, but the FAS more than doubles the country in second place in both categories, so it's sort of a moot point), the FAS hopes to cement its place as the regional economic power.
The FAS has announced a new slate of policies intended to attract rich investors, manufacturing firms, and financiers fleeing the new nationalization program of the United States. New free trade zones have been created throughout the country--especially in the struggling, undiversified regions of Kuwait and Qatar--with the goal of convincing fleeing American manufacturers to set up shop in these areas. Attractions include wildly low tax rates (as low as zero percent in some instances), a common law framework (as opposed to the Sharia-based legal system in most of the FAS), highly subsidized land prices (sometimes free), relaxed financial restrictions (making it easier to move money in and out of the FTZ), and, for large enough firms moving enough operations into the country, preferential visa treatment (making it easier for them to relocate foreign employees into the country). Sitting at one of the major crossroads of global trade, moving operations to the FAS offers easy access to both the world's established consumer markets (like the EU and East Asia) as well as to some of its largest growing markets (South and Southeast Asia, East Africa, and MENA). Pair this with wildly high standards of living (for people who aren't
slaves Asian or African migrant workers) and established expatriate communities, and the FAS becomes an incredibly attractive option for American and other foreign firms looking to relocate.
In addition to manufacturing-oriented FTZs, special attention has been paid to attracting service-oriented firms to new and existing FTZs in the vein of Dubai Internet City, Dubai Design District, Dubai Knowledge Park, and Dubai Media City, with the goal of developing a robust service economy that can capture growing markets in the MENA, South Asia, and East African regions. In advertising these zones, the governments of the FAS have highlighted the success of previous ventures in Dubai, which have attracted the regional headquarters of giants like Facebook, Intel, LinkedIn, Google, Dell, Samsung, Microsoft, IBM, Tata Consultancy, and more.
Perhaps one of the most substantial pushes, though, is to attract American financial services and FinTech firms to base in the FAS (particularly Dubai, Kuwait City, Doha, and Abu Dhabi, the traditional centers of regional finance). New financial industry free trade zones have been set up in the four cities, structured in the vein of the Dubai International Financial Centre (DIFC). These financial FTZs boast an independent and internationally regulated regulatory and judicial system, a common law framework, and extremely low taxation rates. All government services in these regions are available in English (the lingua franca of international finance), and in events where ambiguity exists in the legal and regulatory systems, the systems are set to default to English Common Law (except for the Kuwait City International Financial Centre, which is hoping to better tailor itself towards American financial firms by defaulting to American Civil Law from pre-2020 rather than English Common Law). Much like in the DIFC, these new FTZs will also run their own courts, staffed in large part by top judicial talent from Common Law (or in the case of Kuwait City, American Civil Law) jurisdictions like Singapore, England, and (formerly) Hong Kong. Using these FTZ, the four cities hope to raise their profile as financial centers. Dubai in particular is hoping to break into the top ten global financial centers--and it stands a good chance of doing so, too, as it sits at number 12, just behind cities like LA, SF, and Shenzhen--while the other cities are just hoping to boost their profile into the 20s or 10s (according to Long Finance, Dubai is number 12 in the world and 1 in the region, Abu Dhabi is number 39 in the world and two in the region, Doha is number 48 in the world, and Kuwait City is number 91).
Duterte wants all OFWs in Kuwait to come home, "because there are jobs here now." Really?
Did you know that our workers in Kuwait remitted $806.48 million in 2017? That around PHP41.67 billion, at current forex of P51.67:$1
Middle East Remittances (In 000, US$)
|Country ||Remittance ||Percentage |
|Bahrain ||229,025 ||2.93% |
|British Arab States ||2 ||0.00% |
|Egypt Arab Republic ||838 ||0.01% |
|Iran ||2 ||0.00% |
|Iraq ||356 ||0.00% |
|Israel ||134,192 ||1.72% |
|Jordan ||59,288 ||0.76% |
|Kuwait ||806,484 ||10.33% |
|Lebanon ||65,825 ||0.84% |
|Libya ||8,889 ||0.11% |
|Oman ||345,406 ||4.42% |
|Qatar ||1,110,413 ||14.22% |
|Saudi Arabia ||2,508,948 ||32.12% |
|Syria ||0 ||0.00% |
|United Arab Emirates ||2,540,480 ||32.53% |
|Yemen ||0 ||0.00% |
OFWs in Kuwait contribute 10.33% of remittances from the Middle East, which contributes 27.83% of the total amount of remittances per month.
Worldwide Remittances by region (In 000, US$)
|Region ||Remittance ||Percentage |
|Asia ||5,273,268 ||18.79% |
|Americas ||10,298,024 ||36.70% |
|Oceania ||706,078 ||2.52% |
|Europe ||3,857,187 ||13.75% |
|Middle East ||7,810,148 ||27.83% |
|Africa ||115,084 ||0.41% |
|Total ||28,059,789 ||100.00% |
From 2010 to 2017, Kuwait OFWs sent home $3.34 billion, or PHP174.38 billion.
|Kuwait ||Remittances |
|2010 ||106,486 |
|2011 ||139,839 |
|2012 ||157,121 |
|2013 ||235,091 |
|2014 ||455,353 |
|2015 ||617,614 |
|2016 ||856,715 |
|2017 ||806,484 |
|TOTAL ||3,374,703 |
The following post by dopamineaddictt is being replicated because the post has been openly
The original post can be found(in censored form) at this link:
The original post's content was as follows:
What is the purpose of DENT?
DENT is going to create a global Data sharing economy. In which users can buy, sell or donate their mobile data to other users.
The DENT platform will be a marketplace for the trading of mobile data and the DENT token will serve as the global currency of mobile data between telecommunication companies and their users. For example, if I have a 5GB per month plan with AT&T and I only use 3GB through the DENT App I will be able to sell my extra data to someone in Mexico. This way I will benefit from selling my data, AT&T won’t care cause they were giving me that data anyways and the telecommunication company in Mexico will benefit from the new acquired customer.
The DENT ios app was launched in December and has been live ever since. The Android app is scheduled to be released by the 26th of February.
The target markets of the DENT platform are emerging economies where people use prepaid plans and the costs of data are high.
According to a recent study of CISCO, the worldwide mobile data grew year on year 63% to 7.2billion Gigabytes per month in December 2016. According to a study of Parks Associates, mobile operator data revenues stood at $386 billion USD in 2015, equivalent to $32 billion USD per month. Assuming just 15% to be unused due to expiry, in a way users lost a value of $4.8 billion USD.
In a more transparent and connected market, this value shall be unlocked to drive mobile data usage.
What Operators is DENT connected to? USA: AT&T, Verizon India: Airtel Brazil: Vivo, Claro Mexico: America Movil ,Telefonica Bangladesh: Robi, Grameen Phone, BanglaLink Nigeria: MTN, Glo Mobile, Etisalat, Airtel Sri Lanka: Hutch, Mobitell, Etisalat, Airtel Oman: Ooredoo
Where to buy DENT ? • Coinrail • OKex • Hitbtc • Etherdelta • Kucoin • QRYPTOS • IDEX
The Team ?
Tero Katajainen: DENT Wireless CEO and Founder, Tero Katajainen, originating from Finland, has co-founded several Internet startups in his 20-year career. He holds a Master of Science degree in Electrical Engineering from University of Tampere, Finland. His deep knowledge about FOREX trading systems is a big advantage for DENT. Tero was also one of the first developers ever to implement direct mobile operator payment systems to consumer applications. As a specialist for transactional systems and Blockchain, Tero is the mastermind of all tech at DENT.
Mikko Linnamäki, Co-Founder: Internet pioneer and serial entrepreneur with a track record of founding successful Internet businesses since 1994. Mikko, also from Finland, is Co-founder of DOVECOT Oy, the company behind DOVECOT, the world‘s most popular IMAP Server with a world market share of 72% and over 4 million installations. An estimated 2,5 billion users are entrusting their Email storage to Dovecot every day. Mikko recently received a patent for his invention "Ad Hoc Injection of IMAP Objects".
Andreas Vollmer, Co-Founder: Andreas is the Mobile specialist in the team with 12 years’ experience developing Mobile Apps, from Symbian in 2005 to iOS and Android today. Andreas is Co-Founder of leading German mobile app development company TDSoftware, which is developing apps for companies such as Mercedes-Benz, Audi, Deutsche Post, GLS, and others. Andreas is also an expert in mobile CRM systems, and will deploy the latest tools to analyze user behavior in order to accelerate user growth and hit target metrics.
Michael Wirth: Director Payment Systems, GM UK & Ireland. Michael is taking care of the perfect flow, analytics, and easy user experience for the exchange of DENT Tokens in the customer- and carrier-facing applications on mobile, Web and M2M. Michael has 20 years of experience in large-scale transaction projects. He was Director of Products and Services at eNett International, a Travelport company and leading specialist for payment solutions in the travel industry.
Ville Sundell, Smart Contract Specialist: Ville is a Finnish smart contract developer who has pioneered smart contract based legal entities, being the first to create companies solely on the Ethereum blockchain without any human intervention through Etherprises LLC. Ville has over 10 years of experience on limited and mission critical embedded systems ranging from automotive to mobile systems, being the ideal background for secure smart contract development.
Here are some important links: Roadmap: https://www.dentwireless.com/roadmap FAQ: https://www.dentwireless.com/faq Whitepaper: https://drive.google.com/file/d/0B7XC9TPzyTmOd0pqQ3hRLUM0UzQ/view IOS App: https://itunes.apple.com/us/app/dent-send-mobile-data-top-up/id1325019276?mt=8
Senior Sales Manager Forex - Swiss International Financial Brokerage
We are looking for Full Time Female Sales Staff with good communication skills and social networking. The Ideal Candidates has to be seasoned Sales Professional with a proven track record. A Previous Experience in Brokerage Company is a must. Experience in local and International stock market is a must. Attractive Salary Package.
- Generating/increasing revenue with existing/new corporate and retail accounts in specific industry/segment/territory through selling financial products & services.
presentations to a group of potential buyers or clients. * Sales executives will work onsite at prospect sites delivering sales presentations and collecting information about the client to assist in the development of marketing plans and sales strategies to increase chances of completing a sale. * To be an effective sales executive, you will need to demonstrate commanding knowledge of your target customers, existing competitors in the marketplace and industry trends that may impact a buying decision.
- Responsible for developing, winning, project managing and execution corporate network connectivity and bids, with the main purpose of driving penetration in the accounts and increase customer satisfaction through a proactive, customized, personalized relationship.
- As a field sales executive conducting most of your work outside of a business office, you will be expected to manage sales-productivity through software tools to effectively tracks your selling activities, manage contact information for sales prospects and existing clients, and schedule visits or meetings with clients within your sales territory.
- Main sales executive duties are to consult corporate and Retail accounts to buy financial products or services, also need to solve the queries and concerns of the clients.
- You should know the products and Services you are selling thoroughly to be able to demonstrate the products in front of the clients.
- Sales executives should have good presentation skills, as sometimes he is required to give
Strong oral and written communications skills - Prior experience in a forex brokerage company is preferred. - Bilingual: English and Arabic speaking - Excellent command of English language - Self-confident - Team Player - Availability: Immediate Attractive Package (Salary & high bonuses) one of the best in the industry.
Job Location:Al Kuwait, KuwaitCompany Industry:Financial ServicesCompany Type:Employer (Private Sector)Job Role:Finance and InvestmentEmployment Type:Full Time EmployeeMonthly Salary Range:UnspecifiedNumber of Vacancies:10Job Ref.:JB3587217
Career Level:Mid CareerResidence Location:KuwaitGender:FemaleNationality:Algeria; Bahrain; Comoros; Djibouti; Egypt; Iraq; Jordan; Kuwait; Lebanon; Libya; Mauritania; Morocco; Oman; Palestine; Qatar; Saudi Arabia; Somalia; Sudan; Syria; Tunisia; United Arab Emirates; YemenAge:Min: 20 Max: 45 Let's block ads!(Why?)
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