IMF Releases World Economic Outlook, October 2018

IMF released world economic outlook, October 2018 yesterday. The steady expansion under way since mid-2016 continues, with global growth for 2018–19 projected to remain at its 2017 level. At the same time, however, the expansion has become less balanced and may have peaked in some major economies. Downside risks to global growth have risen in the past six months and the potential for upside surprises has receded.

“The latest World Economic Outlook report projects that global growth will remain steady over this year and next, at last year’s rate of 3.7 percent”, Maurice Obstfeld, Economic Counsellor and Director of the Research Department of IMF said.

Global growth for 2018–19 is projected to remain steady at its 2017 level, but its pace is less vigorous than projected in April and it has become less balanced. Downside risks to global growth have risen in the past six months and the potential for upside surprises has receded. Global growth is projected at 3.7 percent for 2018–19—0.2 percentage point lower for both years than forecast in April.

The downward revision reflects surprises that suppressed activity in early 2018 in some major advanced economies, the negative effects of the trade measures implemented or approved between April and mid-September, as well as a weaker outlook for some key emerging market and developing economies arising from country-specific factors, tighter financial conditions, geopolitical tensions, and higher oil import bills.

Output losses after the 2008 financial crisis appear to be persistent, irrespective of whether a country suffered a banking crisis in 2007–08. Sluggish investment was a key channel through which these losses registered, accompanied by long-lasting capital and total factor productivity shortfalls relative to precrisis trends.

Policy choices preceding the crisis and in its immediate aftermath influenced postcrisis variation in output. Underscoring the importance of macroprudential policies and effective supervision, countries with greater financial vulnerabilities in the precrisis years suffered larger output losses after the crisis. Countries with stronger precrisis fiscal positions and those with more flexible exchange rate regimes experienced smaller losses. Unprecedented and exceptional policy actions taken after the crisis helped mitigate countries’ postcrisis output losses.

Inflation in emerging market and developing economies since the mid-2000s has, on average, been low and stable. IMF investigated whether these recent gains in inflation performance are sustainable as global financial conditions normalize.

First, despite the overall stability, sizable heterogeneity in inflation performance and in variability of longer-term inflation expectations remains among emerging markets.

Second, changes in longer-term inflation expectations are the main determinant of inflation, while external conditions play a more limited role, suggesting that domestic, not global, factors are the main contributor to the recent gains in inflation performance.

Third, further improvements in the extent of anchoring of inflation expectations can significantly improve economic resilience to adverse external shocks in emerging markets. Anchoring reduces inflation persistence and limits the pass-through of currency depreciations to domestic prices, allowing monetary policy to focus more on smoothing fluctuations in output.

© The Expo Review

 

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Core data from UFI’s World Map of Exhibition Venues shows growth of global venue space

– 1,221 exhibition venues serve the industry around the world

– Total venue space available for exhibitions globally has grown to almost 35 million sqm

– Asia now offers more exhibition venue space then North America. Europe is home to the most exhibition space

– The number of larger exhibition venues around the world is growing significantly

As the total amount of exhibition space available around the world continues to grow, exhibition organisers have a more and more diverse choice of venues available in their target markets.

Data released last November 7 by UFI, the Global Association of the Exhibition Industry, shows that the number of venues offering more than 100,000 sqm of gross indoor exhibition space is the fastest growing segment, while the number of venues offering at least 5,000 sqm of gross exhibition space also continues to grow.

Venue capacity is an important element for the exhibition industry and the resulting economic development it generates. With the “World Map of Exhibition Venues”, UFI regularly produces a global census of all exhibition venues with a minimum of 5,000 sqm of gross indoor exhibition space.

Offering a preliminary view of the full report that will be available in December, UFI communicated on the consolidated results of the 2017 edition of the World Map, which highlights trends and developments in recent years.

Currently, there are 1,221 exhibition venues with a minimum of 5,000 sqm of gross exhibition space around the world and the total global venue space is 34.9 millions sqm, a 7.2% increase over the last 6 years. During this same period, the number of large venues offering more than 100,000 sqm of space has grown to 61, a staggering 27% increase in just 6 years.

Due to a surge in venue projects in Asia/Pacific, driven primarily by China, there is now more venue space available in this region than in North America. That being said, Europe retains its global lead on available venue capacities with 45.4% of the global market share (down 2% compared to 2011), ahead of Asia/Pacific with 23.6% (up 3.3%) and North America with 23.4% (down 1%).

Kai Hattendorf, UFI Managing Director, says: “We are pleased to see that in recent years, additional venue space has become available in almost all regions of the world. Venue investments are long-term investments – so these trends underline the positive outlook for the exhibition industry mid- to long-term. In addition to adding new space, many venue operators have also made significant investments to upgrade their existing venue capacities.”

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Source:UFI

© The Expo Review

Dubai Chamber to organise 4 th Global Business Forum on Africa in November

The Dubai Chamber of Commerce and Industry has announced that it will organise and host the 4th Global Business Forum on Africa in Dubai on November 1st-2
nd, 2017, under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister, and Ruler of Dubai.

The two-day forum will be held at Dubai’s Madinat Jumeirah under the theme “Next Generation Africa”, and bring together 1,000 top-level participants, including government officials, policymakers, business and finance leaders, and entrepreneurs from across Africa and around the world.

During the event, delegates will explore the potential of leveraging technology to accelerate growth in Africa, and discuss trade and investment opportunities that are opening up across the continent. Public and private sector stakeholders from African and GCC countries will highlight recent economic trends, and identify mutual areas of cooperation and growth opportunities in key sectors that offer the most potential for foreign companies and investors.

In addition, the high-level forum will examine the role that Africa’s dynamic young entrepreneurs can play in tackling economic and societal challenges, and explore potential for forming long-term partnerships with the aim of filling market gaps and fuelling growth.

H.E. Hamad Buamim, President and CEO, Dubai Chamber, noted that this year’s forum comes at a time when Sub-Saharan African economies are experiencing robust growth, and described Africa’s rising middle class and rapid urban growth as two key trends that are creating exciting prospects, which companies in the UAE stand to benefit from.

Dubai Chamber’s President and CEO explained that participation and interest in the Global Business Forum on Africa has grown significantly over the last four years, and added that the event now serves as an ideal platform for business, finance and government leaders to network, discuss new avenues of cooperation, and develop the fast growing ties between Africa and Dubai.

The 4th Global Business Forum on Africa, the largest event of its kind in the region, is expected to attract a wide range of participants, including top-level government and corporate decision-makers, including African heads of state, ministers and dignitaries, prominent CEOs, heads of private banks, sovereign wealth funds, private equity firms, government officials, business leaders, and entrepreneurs.

The event is part of the Global Business Forum series launched by the Dubai Chamber which focuses on Africa, the Commonwealth of Independent States (CIS), and Latin America. The series has hosted 10 heads of state, 74 ministers and dignitaries, 5,400 executives, and decision makers from 65 countries to date.
Dubai Chamber is collaborating with the Economist Group in developing the content of the forum. The previous Global Business Forum on Africa in Dubai attracted more than 1,000 participants, while more than 100 bilateral investment meetings were held during the event.

Established in 1965, the Dubai Chamber of Commerce & Industry is a non-profit public entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub.

Source:Dubai Chamber of Commerce & Industry

© The Expo Review

 

Arab Health 2018 International Healthcare Exhibition

Arab Health 2018 International Healthcare Exhibition  will be held on January 29th, 2018 at the Dubai International Convention and Exhibition Centre.

Arab Health is the largest gathering of healthcare and trade professionals in the Middle East and North Africa. The 2018 edition of the event is expected to welcome more than 4,200 exhibiting companies and 103,000 attendees from more than 150 countries.

General medical products, medical devices, health tourism, informatics, hospital management systems, gas systems, orthopedy products, climating systems and more will be exhibited.

Accompanying the exhibition will be 17 business, leadership and Continuing Medical Education (CME) conferences providing the very latest updates and insights into cutting edge procedures, techniques and skills.

The Arab Health Congress 2018 agenda features business, leadership and Continuing Medical Education (CME) conferences to attending healthcare professionals. With the aim of bridging the gap in medical knowledge, the carefully designed congress provides the very latest updates and insights into cutting edge procedures, techniques and skills.

Arab Health 2018 will take place from 29 January – 01 February 2018. The exhibition is free to visit if you register before the show.

You can get more information at the show official website  www.arabhealthonline.com

© The Expo Review