Smart cities have arrived and the potential is huge October 29, 2013 THE PROPORTION of people living in the world’s cities passed 50 per cent for the first time in 2008. And just 600 cities accounted for about 60 per cent of economic growth in 2011, according to McKinsey. While a third of the developed world’s cities are expected to drop out of the top 600 by [...]
Britain can build on its position as a leading centre of Islamic finance October 29, 2013 WITH London opening its doors to the World Islamic Economic Forum (WIEF), the buzz around Islamic and ethical finance continues to grow louder and stronger, and it’s easy to see why. As an industry worth around $1.85 trillion (£1.15 trillion) globally, with growth rates of up to 15 per cent each year, many are attracted [...]
British Business Pavilion sells UK healthcare innovations to Islamic investors October 29, 2013 SITTING two floors above the main exhibition space, and accessible by invitation only, UK Trade and Investment’s (UKTI) British Business Pavilion at this year’s World Islamic Economic Forum is the centre of Britain’s attempts to gain a tangible trade benefit from the Forum. A carefully selected series of exhibits offer a snapshot of the UK’s [...]
UK sukuk plan could spark wider Islamic finance renaissance October 29, 2013 DAVID CAMERON’s plan to issue a £200m sharia-compliant government bond (a sukuk) may spark a drastic rise in Islamic financial activity in the West, a leading analyst says. “The lack of sharia-compliant debt instruments outside the Muslim world has acted like a funnel, creating a mismatch between supply and demand,” says Sayd Farook, Thomson Reuters’s [...]
Karzai calls for further trade liberalisation October 29, 2013 Afghan President Hamid Karzai yesterday called for trade liberalisation in order to help poorer nations close the gap with the developed world. Speaking at the opening of the World Islamic Economic Forum, Karzai said that “the challenge of reducing inequality among nations must also be addressed through liberalising trade. In particular, ensuring free access to [...]
Female empowerment crucial to growth October 29, 2013 Malaysian Prime Minister and World Islamic Economic Forum patron Najib Razak gave the opening address of this year’s Forum, using his speech to raise the issue of female labour participation rates in the Islamic World. “It is time to put women at the heart of our economic system,” he said. “Greater involvement of women in [...]
WIEF 2013 today October 29, 2013 Face to Face – Smart Cities ■ 9am to 10am ■ Boris Johnson, mayor of London ■ Lauren Taylor, presenter, Aljazeera English, UK Designing the Future – Why do we need Smart Cities? ■ 10am to 11.30am ■ Neil M Denari, founder, Neil M Denari Architects, United States ■ Professor Dr Uwe Krueger, chief executive, [...]
London looks to build on Islamic investment lead October 28, 2013 A GUIDING principle of the World Islamic Economic Forum is that business and trade connections can bring the Muslim and non-Muslim worlds closer – politically, culturally, and economically. Today, speakers including Lord Green, the UK’s trade and investment minister, Kamal bin Ahmed, acting chief executive of Bahrain’s Economic Development Board, and Jaguar Land Rover chief [...]
Why business is key to uniting East and West October 28, 2013 TODAY the ninth World Islamic Economic Forum (WIEF) meets for the first time outside a Muslim country. And it’s happening here in London, the UK’s cosmopolitan and inclusive capital. There has never been a more important time for Western and Islamic countries to work together. We’ve discovered that, when people get together for business, they [...]
Why bringing Islamic culture to London has a powerful business case October 28, 2013 WHILE the serious business of growth and economics will be top of Forum delegates’ minds today, from tomorrow a free festival of the creative industries will showcase how culture, art, and creativity can play a crucial role in economic empowerment. The Marketplace of Creative Arts festival (MOCAfest), running tomorrow and Thursday from 10am to 10pm, [...]