Middle East major market for developing countries
Sep0
With nearly half the world’s population living in what are popularly termed ‘developing countries’, the economies of these countries have become the major concerns of businesses in the developed world. In particular it has emerged that the Middle East is seen as a critical market for the developing economies, in particular for India and Pakistan.
Nearly $7 billion’s worth of electronics hardware was exported from India to the Middle East in 2008-2009, a massive rise of over 100% from the previous reporting period. $1.5 billion’s worth of software and services in the ICT industry made their way to the Middle East as well in this same period from India, and the ever-rising figures are good news for those investing in the Indian economy.
On the other hand, more established, developed countries are making greater inroads to the Middle Eastern economy. LG Electronics, a stalwart of the South Korean electronics industry, have made it their target to take advantage of the region and its population with “rich oil money” along with the more low-end African market.
In a global economy where times are hard in many traditional markets, opening up new markets in places like Africa and the Middle East is proving to be a wise move for most companies.
Saudi Arabia’s open university
Sep0
Saudi Arabia has opened its latest university, 50 miles north of Jeddah. The King Abdullah University of Science and Technology, covering 36 square kilometres and with an endowment of over $10 billion, has the aim of raising the profile of research and science in the kingdom which depends on oil revenues to a high level.
The thing which makes this new institution different from any other university is the setting – in the middle of the desert, a sprawling mini-metropolis designed to enhance the lives of students and staff. Oh and one other thing – the country’s usually strict segregation and religious laws concerning women have been loosened to keep everyone on-task at the best of their abilities. This means women will be allowed to drive on-campus, sit in the same lectures as male students and socialise together. However, it is expected that the strict laws governing alcohol consumption and bans on the presence of males inside the female accommodations will remain.
It is hoped that with the $1.5 billions worth of equipment at the site, including one of the world’s fastest supercomputers, Saudi Arabia will be able to source revenue through research in key areas and end its reliance on oil exports. Whether this works or not remains to be seen, though.
Internet TV taking off in the Middle East
Sep0
The Middle East is set to embrace internet-connected TV over the next 3 years with the announcement of a new device to enable televisions to connect to the internet to stream international and local video straight to the living room.
Netgear are behind this new broadband router, cashing in on the nearly 50 million internet users in the region. The idea is to allow users to view streaming content in full screen on their TV screens from a variety of sources. Web video sites such as YouTube should be catered for, along with broadcasts from European and American markets. The device connects directly to the television set and provides functionality to search for and view content available on the internet, whilst also providing a method to view locally-stored content accessibly via a flash drive.
With the popularity of internet streaming video reaching ever higher levels, this device is well placed to take advantage of the burgeoning market and consumer demand. Netgear estimates that the market will reach a total of 1 million users by 2011, and hopes that this figure will turn out to be conservative due to the increasing numbers of users being hooked up to broadband connections in the Middle East.
Shoe throwing journalist free again
Sep0
The man sent to prison for throwing a shoe at ex US President George W. Bush has been released from prison after spending 9 months locked up for his protest.
Muntadar al-Zaidi has become something of a hero in both the Middle East and on the internet for his tirade against Bush on his final visit to the Middle East before he left office. Even though he was punished for the outburst, many agree with what he said at the time and love the fact that he had the courage to stand up for what he believed.
The Cairo-based journalist had been held captive before, both by terrorist groups and the US armed forces, and decided to register his, and many others, discontent while Bush gave a press conference.
Shouting: “This is a goodbye kiss from the Iraqi people, dog. This is from the widows, the orphans and those who were killed in Iraq”, he almost hit the then-current US President with his shoe. This has spawned numerous internet games and videos, a notoriety which is sure to go on for some time.
Originally sentenced to 3 years in prison, later commuted to 12 months, he has been released 3 months early due to good behaviour.
Dubai welcomes first mass transit system
Sep0
Residents of Dubai are welcoming their new metro train network as it opens today, becoming the first fully automated, driverless train network in the Gulf region.
Costing $7.6 billion, up from the original estimate of $4.2 billion, it is as state-of-the-art as they come. Air conditioned station platforms and carriages, leather seats (for those who want to pay for them) and segregated, women-only carriages are designed to appeal to those who usually drive to work. Low fares have had to be implemented to compete with the cheap fuel costs residents are used to.
However, the introduction of this public transport milestone has come at a bad time, with Dubai suffering from the effects of the recession to a greater degree than most other parts of the world. Traffic problems which were constant and growing worse by the month when the project was drawn up are now subsiding due to an exodus of foreign migrant workers. It remains to be seen whether the project will reach its goal of the 200 million passengers annually organisers hope for, let alone how long it will take to recoup the costs of a very expensive statement of intent.
Even if the passenger numbers never quite reach the heights expected, then at least there will be some high-tech engineering work to admire and extravagant stations to wander around (some of them even have chandeliers), along with what is planned to be the biggest corporate branding effort in the world with the naming rights to stations up for grabs.
Once the second stage of the project opens in mid-2010, the Green Line, it is expected to become the longest unmanned rail line in the world, surpassing the Vancouver Skytrain. The total length of the Red and Green lines will reach 75km of track at this point.
At a time when Dubai is desperately trying to make a name for itself on the world stage with the construction of a crop of skyscrapers (a fair number of which will become record breakers in various fields when they are complete) and the urge to show itself as an environmentally sound city, this network could well help these goals be achieved.