Gaza’s GDP declined by $655 million in 2023

Gaza’s GDP declined by $655 million in 2023

According to the UN Trade and Development Agency’s latest report, Gaza’s Gross Domestic Product declined by $655 million last year, roughly 25 percent, mainly due to the onset of war. Here’s Rami Al Azzeh, an economist with the Assistance to the Palestinian People Unit at UNCTAD.

February 1, 2024 25

Business / Economics

BRICS bloc dominates global GDP and wealth

The BRICS bloc now represents more than 45% of the world’s population and accounts for nearly 36% of global GDP than G7 countries (30%) when adjusting for purchasing power parity. According to investment migration consultancy, Henley and Partners’ BRICS Wealth Report, the total investable wealth currently held in the BRICS bloc amounts to $45 trillion and its millionaire population is expected to rise by 85% over the next 10 years.

February 1, 2024 3

Environment

Can ‘degrowth’ solve our ecological, social & economic problems?

Two people biking in Amsterdam, a city well known for its cycling culture. Image by Sabina Fratila (@momhasapples) via Unsplash. By Mike DiGirolamo, Rachel Donald via Mongabay Research published in the journal Humanities and Social Sciences Communications finds that just in the United States, trillions of dollars are wasted on things that do not improve the quality of life for Americans. Podcast guest Timothée Parrique, an economist and researcher at the Lund University School of […]

January 31, 2024 24

Africa

Will Kenya’s strategic mining reforms catalyse a sector renaissance?

By Bonface Orucho, via bird story agency Kenya's mining and extractives sector is flourishing, reaping the rewards of recent reforms that promise to increase sector revenues as the country positions itself for economic gains from the burgeoning industry. From legal and legislative reforms to seamless mapping and surveying of available resources, the East African country is showing increased interest in tapping into new revenue-generating opportunities in the sector. […]

January 30, 2024 9

Business / Economics

Cooperation only path to protecting humanity from ongoing crises, Commonwealth Secretary-General tells Non-Aligned Movement Summit

The Commonwealth Secretary-General, the Rt Hon Patricia Scotland KC, addressed leaders from 121 Non-Aligned Movement countries, calling for greater cooperation to protect all humanity from overlapping economic, environmental and security challenges. She was speaking at the 19th Summit of Heads of State and Government of the Non-Aligned Movement in Kampala, Uganda, on 20 January 2024. Addressing leaders, foreign affairs ministers and strategic partners as an official observer, the […]

January 22, 2024 5

Africa

AfCFTA to boost regional trade by 80%

More than half of African countries will use the rules of a continental free-trade pact this year as the continent moves closer to fully integrating into a single market. According to Bloomberg News, AfCFTA Secretary-General Wamkele Mene told a World Economic Forum panel in Davos Tuesday that of the 47 countries that have ratified the African Continental Free Trade Area, 31 will join the trade initiative, up from seven in […]

January 17, 2024 9

World

US GDP grows but voters remain dissatisfied at economy

The US economy grew 4.9% last quarter, new figures show — that's lower than recent estimates, but still the fastest pace of expansion since the fourth quarter of 2021. The Bureau of Economic Analysis said the rise "reflected increases in consumer and government spending." From Washington, Benji Hyer reports.

December 22, 2023 6

Business / Economics

The gross domestic product for the third quarter of 2023 expanded by 7.2 percent

Domestic Economy 1. In the third quarter of 2023, the Real Gross Domestic Product (GDP) exhibited a noteworthy expansion, registering a robust growth of 7.2 percent. This represents a substantial increase from the 5.4 percent recorded during the corresponding quarter of the preceding year. The economy witnessed a commendable trend, characterized by 10 consecutive quarters of positive growths. 2. In nominal terms, the size of the Namibian economy, quantified […]

December 14, 2023 8

Africa

Namibia, Ghana hold B2B networking session

The Namibian Tourism Board (NTB) on Monday held a business-to-business (B2B) networking session with over 21 tourism industry partners from Ghana to position Namibia as a tourism destination and investment opportunity. Speaking at the event in Windhoek, NTB Head of Marketing, Charmaine Matheus, explained that the B2B engagement aims to promote Namibia as a tourism destination and investment opportunity amongst Ghanaians in various sectors of the economy, including tourism. “Linking […]

November 21, 2023 9