economy Archives - Al Ansaar

BRICS vs. G7: The Battle for Economic Supremacy

20Oct

By Muhammad SalaahuddinNo Comments

Business

BRICS vs. G7: The Battle for Economic Supremacy

Summary:BRICS alliance surpasses G7 in terms of purchasing power parity (PPP) with 31.5% contribution to global GDP.BRICS aims to challenge G7 and the US dollar, convincing other developing countries to ditch the dollar for local currencies.The shift in global trade could tilt financial power to the East and potentially damage the US economy.BRICS Alliance Market ShareIn a remarkable turn of events, the BRICS alliance has emerged as a formidable force, overtaking the G7 countries in terms of purchasing power parity (PPP). According to data from the UK-based research firm, Acorn Macro Consulting, BRICS now contributes 31.5% to the global GDP, slightly ahead of the G7's 30.7%. This economic shift has significant implications for the balance of power on the global stage. ...

AfCFTA Could bring a new Upliftment to Africa’s Regional Economy

13Oct

By Muhammad SalaahuddinNo Comments

Business

AfCFTA Could bring a new Upliftment to Africa’s Regional Economy

The African Continental Free Trade Area (AfCFTA) is taking its first steps to fruition. However, it is going to be a long and unsteady road. But, Blockchain technology and Cryptocurrencies are one way of helping implement the agreement across borders.1 Based on the use cases and challenges examined above, it is evident that there are strong arguments in favour of introducing the functionality of cryptocurrencies in the financial architecture of the trade agreement.2 However, for it to achieve success, concerted efforts are needed as necessitated to address the implementation challenges if the gains of adoption are to be realised.3 Principally, the state parties (governments who are signatories to AfCFTA) must be co-opted as the initiative can simply not work with the polit...

As BRICS Summit Approaches New Opportunities for Business and Currency Arise

2Aug

By Yacoob CassimNo Comments

Business, Trending News

As BRICS Summit Approaches New Opportunities for Business and Currency Arise

As the summit for BRICS approaches plans are being made as regards to preparing entrepreneurships by searching for what are the country’s best up-and-upcoming tech gurus (Professionals) to represent the country in the BRICS Future Skills Challenge.1 The future skills Olympics for this year will focus on solving problems the BRICS nations face around energy, water and health.2 BRICS being made up of Brazil, Russia, India, China and South Africa are seeking to rear new professionals in this skills challenge set for 12 to 15 September 2023 in Johannesburg.3 With hundreds of participants expected be involved, the BRICS Business Council aims to select 120 individuals from across the country, covering their travel expense.4 Joanne Brink, founder of TechWays and project manager at BRICS Future Sk...

Food Security becomes Fairytale for Very Poor

14Jul

By Yacoob CassimNo Comments

Food, Trending News

Food Security becomes Fairytale for Very Poor

In South Africa’s rural areas, food security remains a critical problem.1 The rising inflation and cost of living has sent food prices up to the roof meaning most people do not eat healthy.2 Many South African citizens who live below the poverty line or on social grants can’t afford food.3 Malnutrition is a huge risk.4 Some elderly pensioners with large households have a difficulty affording food for the loved ones under their care.5 The Younger ones are unable to attend school and the older children are unable to find work.6 Due to the fact that food in rural areas are hard to come by, many families skip meals.7 Stunted growth remains a serious problem.8 The risk is these families fall victim to loan sharks, as a result of them not having enough money to buy food, relying on subsistenc...

Concerns Over Turkish Economy Ahead of Presidential Runoff

17May

By Hajira KhotaNo Comments

Concerns Over Turkish Economy Ahead of Presidential Runoff

/*! elementor - v3.12.1 - 02-04-2023 */ .elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px} Concerns over Turkish economy ahead of presidential runoff As the Turkish presidential elections head for a runoff between incumbent Recep ...