Press Arabia

The Kingdom of Bahrain has won the membership of the International Bureau of Education (IBE) of the United Nations Educational, Scientific and Cultural Organisation (UNESCO), representing the Arab States Group, during the UNESCO’s General Conference in France and the meetings of its committees.

 

 

 

Education Minister, Dr. Majid bin Ali Al-Nuaimi, extended sincere congratulations to His Majesty King Hamad bin Isa Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, on the occasion.

 

 

 

The new achievement proves the distinguished status enjoyed by the kingdom thanks to the wise leadership of HM King Hamad in all fields, including education, he said, highlighting UNESCO’s respect and appreciation for the kingdom.

 

 

 

The IBE was established in 1925, as a private, non-governmental organisation, and became an integral part of UNESCO in 1969.

 

 

 

Its mandate is to strengthen the capacities of member states to design, develop, and implement curricula that ensure the equity, quality, development-relevance, and resource-efficiency of education and learning systems.

 

Source: Bahrain News Agency

Beijing, Asian stock markets sank Friday as traders watched a surge in coronavirus cases in Europe and anti-disease controls that threaten to disrupt trade and travel.

Shanghai, Tokyo, Hong Kong and Sydney declined. U.S. markets were closed Thursday for a holiday, reports AP.

Austria imposed a nationwide 10-day lockdown after its daily virus deaths tripled, while Italy imposed curbs on activity by unvaccinated people.

The U.S. government advised Americans to avoid Germany and Denmark. Morocco suspended flights from France after its daily new cases spiked above 30,000.

“Traders will be closely monitoring the situation with the new COVID wave across Europe,” said Anderson Alves of ActivTrades in a report. Alves said curbs imposed by China that limit access for shipping crews are “prolonging a crisis” in global trade.

The Shanghai Composite Index lost 0.4% to 3,569.86 and the Nikkei 225 in Tokyo plunged by an unusually wide 2.5% margin to 28,779.03. The Hang Seng in Hong Kong tumbled 1.9% to 24,260.94.

The Kospi in Seoul lost 1% to 2,949.71 and Sydney’s S&P-ASX 200 fell to 7,301.90. New Zealand and Southeast Asian markets also declined.

Wall Street’s benchmark S&P 500 closed up 0.2% on Wednesday. U.S. markets are due to reopen Friday for a shortened trading session.

Investors are more cautious after Federal Reserve officials said in notes from their October meeting released this week they foresaw the possibility of responding to higher inflation by raising rates sooner than previously planned.

Financial markets had been encouraged by strong U.S. corporate earnings and signs the global economy was rebounding from last year’s history-making decline in activity due to the pandemic. Stock prices have been boosted by easy credit and other measures rolled out by the Fed and other central banks.

Investors worry central bankers might feel pressure to withdraw stimulus earlier than planned due to stronger-than-expected inflation. The Fed said earlier it foresaw keeping rates low until late next year.

In energy markets, benchmark U.S. crude fell $1.68 to $76.71 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the price basis for international oils, shed $1.29 to $79.63 per barrel in London.

The dollar fell to 114.62 yen from Thursday’s 115.36 yen. The euro advanced to $1.1224 from $1.1221.

Source: Bahrain News Agency

Chicago, Bargain hunters ventured out in chilly weather to buy Christmas gifts on Black Friday, finding stores less crowded than in years past as major U.S. retailers opened their doors early.

A shift online, COVID fears and less-steep discounts have thinned crowds on the day after the U.S. Thanksgiving holiday, which kicks off the year-end shopping season. Many shoppers are also choosing curbside pick-up rather than venturing inside, Reuters reported.

“What a lot of customers are doing is drive-up, they don’t even enter the store. I think that’s one of the reasons it looks quiet,” said Ian Korolenko, 29, a vacuum salesperson asked by Target to help out on Black Friday.

“I also think a lot of these stores do their Black Friday deals earlier in the week now, and a lot of them go online now.”

Macy’s (M.N) is extending its digital delivery deadline closer to Christmas, Chief Executive Jeff Gennette told Reuters in an interview. The deadline will now be Dec. 22 or Dec. 23, versus Dec. 15 last year. If shoppers order by 10 a.m., they could have same-day delivery in certain stores and categories.

“You’re still going to have that last-minute procrastinator that’s going to come in on Christmas Eve,” Gennette said.

Francisco Martinez, 22, a delivery driver, was one of more than 100 people standing outside a Walmart Supercenter in the Kilbourn Park neighborhood of Chicago before 5 a.m., in 20 degree Fahrenheit (-7 degree Celsius) weather.

As people queued, a Walmart worker handed out coupons for items such as Apple AirPods and watches and Gateway laptops.

“I want to get a 65-inch Element TV – it’s $350 off,” said Martinez, who was wearing three layers of clothing, adding: “I think I’m going to get it – it’s not as crowded as it used to be.”

‘EARLY ONLINE BIRDS GET THE WORM’

As online shopping has taken off, Black Friday crowds have dwindled, particularly in 2020 when people were still unvaccinated and worried about COVID-19.

Dresden Davis, 28, said she’s doing her Black Friday shopping from her couch now that sales aren’t “Black Friday-ing” like they used to. “I feel like a lot of places only have 20-25% off, when usually Black Friday sales are more,” said Davis, a strategy and planning specialist in Odenton, Maryland.

For November and December, online sales are estimated to hit a record $207 billion, up 10% from last year, according to Adobe Digital Economy Index. The National Retail Federation has forecast combined brick-and-mortar and online holiday sales would grow 8.5%-10.5% to between $843.4 billion and $859 billion.

Walmart (WMT.N), Best Buy (BBY.N) and Target (TGT.N) this year did not require vaccinated shoppers to wear masks, but some indoor malls kept existing mask requirements.

At the Chicago-area stores Reuters visited, both employees and shoppers generally wore masks.

Realtor Kelsey Hupp, 36, for years shopped at the Macy’s department store in downtown Chicago on Black Friday, and she kept with the tradition this year.

“Chicago is pretty safe and masked and vaccinated. I got my booster so I’m not too concerned about it,” she said.

Macy’s Gennette said Black Friday store traffic “exceeded our expectations in the first couple of hours.”

A Deloitte survey showed people already spent 80%-85% of their budgets before Black Friday.

“People are looking to get back to normal,” said Rod Sides, Deloitte’s U.S. retail leader. “The early online birds, and the birds that went into the store, may get the worm.”

Another concern is that an ongoing supply chain logjam might prevent retailers from stocking sought-after items such as Hoverboard scooters, Oculus Quest 2 headsets, Nerf toys, AirPods Pro earbuds and MacBook Air laptops.

CURBSIDE DEMAND

U.S. consumers enter the holiday season flush with spending power thanks to a still-hefty pile of savings from multiple rounds of government pandemic relief, and double-digit wage increases as businesses compete for workers. read more

Online and brick-and-mortar retailing come together just outside the store. Retailers including Target, Macy’s and Walmart allocated more space and workers to online pick-up stations and curbside parking.

Walmart, the world’s biggest retailer, hired 150,000 workers for the holidays, many for these jobs. Walmart is giving users an hour to check out after scheduling a time to retrieve orders.

Target added more than 18,000 “drive-up” parking spaces, more than doubling spots versus last year. Target’s website warns of “limited qualities” and “no rainchecks.”

Curbside pickup increased 92% in November compared to 2019, according to Adobe Digital Economy Index.

Electronics – in short supply due to a global chip shortage – had the highest out-of-stock levels, followed by personal care, and home and garden, according to Adobe.

Through most of November, out-of-stocks were up 261% versus 2019.

“Instead of seeing eight piled-high boxes of TVs, you might see three or four stacks of TVs,” NPD analyst Marshal Cohen said.

Elver Gomez, 21, came to Best Buy at 6 a.m. but found the Apple and Microsoft laptops he wanted out of stock.

“It seems like this year it’s either out of stock or isn’t that great of a price,” the student said. “I’m not going to get what I wanted.”

Source: Bahrain News Agency

His Excellency Sheikh Mohammed bin Hamad bin Qassim Al–Thani, Minister of Commerce &Industry, chaired Qatar’s delegation participating in the meetings of the 37th session of the Standing Committee for Economic &Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC), presided by His Excellency Mr. Recep Tayyip Erdogan, President of the Republic of Turkey, in Istanbul, over November 24-25, 2021.

During the session, the COMCEC Strategy Implementation Report was discussed, in addition to showcasing the Organization of Islamic Cooperation (OIC) Program of Action for the period 2016-2025 (OIC-2025: Program of Action). The OIC General Secretariat submitted a report on the progress and latest developments in terms of implementing the OIC-2025: Program of Action.

The meeting also shed light on global economic developments, with special reference to the socioeconomic impacts of the COVID-19 pandemic on OIC member States. In this regard, the Statistical, Economic and Social Research and Training Center for Islamic Countries (SESRIC) presented its annual report on global economic developments, in light of which the member countries previewed their experiences pertaining to recent economic developments.

Moreover, the meeting touched on several issues related to intra-OIC trade among the OIC member States. Additionally, the heads of the delegations participating in the meeting tackled many topics of common interest, including discussing ways to improve the role of the private sector in economic cooperation among the member States. In this context, the Islamic Chamber of Commerce, Industry and Agriculture presented its report on the recent developments in private sector meetings.

Established in 1981, COMCEC is the main platform for multilateral economic and commercial cooperation in the Islamic world. COMCEC acts as the central forum through which the common development challenges facing the Islamic Nation are addressed.

 

Source: Ministry of Commerce and Industry

His Excellency Sheikh Mohammed bin Hamad bin Qassim Al Thani, Minister of Commerce &Industry, held separate meetings with each ofH.E. Dr. Majid bin Abdullah Al Qasabi, Minister of Commerce of the Kingdom of Saudi Arabiaand H.E. Dr. Mehmet Muş, Minister of Trade of the Republic of Turkey, on the sidelines of the37th session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC) meetings, convened in Istanbul.

During the two meetings, officials discussedways of enhancing and developing cooperationin the fields of trade, investment and industry.The discussions also featured the exchanging of views on the topics listed in the COMCEC‘s agenda.

 

Source: Ministry of Commerce and Industry

The Ministry of Commerce and Industry, in cooperation with the International Federation of Association Football (FIFA), organized a training workshop on the essential measures to protect consumers and combat commercial fraud during the FIFA World Cup Qatar 2022.

This workshop came within the framework of the Ministry’s efforts to implement and adopt best practices in preparation for Qatar’s hosting of the FIFA World Cup Qatar 2022.

Moreover, the Ministry is keen to raise the efficiency of judicial control officers, develop their capabilities, and provide them with new methods and means to distinguish between original and counterfeit goods of all forms and types.

The workshop addressed a number of topics related to the types and forms of commercial fraud in the context of preparations to host the World Cup, including shedding light on laws and legislation related to consumer protection, Law No. (8) of 2008 on Consumer Protection, and Law No. (10) of 2021 regarding the Measures for Hosting the FIFA World Cup Qatar 2022.

The training workshop also featured ways to protect the rights of joint-stock companies, brand value, and the companies whose rights FIFA protects to use their trademarks. Additionally, the workshop touched on the mechanisms for identifying officially licensed products, and the unauthorized use of trademarks and designs affiliated with FIFA and the FIFA World Cup Qatar 2022. It also showcased a number of inspection campaigns in Qatar that resulted in the seizure of counterfeit products violating FIFA trademarks.

A committee was formed at the Ministry of Commerce and Industry called the ‘Committee to Follow-up on Instructions and Guidance regarding Measures to Host the FIFA World Cup Qatar 2022 related to the Ministry’. The committee is concerned with providing all aspects of the necessary support within the framework of the Ministry’s competencies and in accordance with Law No. (10) of 2021.

The committee shall additionally coordinate with other Ministries to facilitate the implementation of measures to host the FIFA World Cup Qatar 2022.

Source: Ministry of Commerce and Industry

H.E. Mr. Sultan bin Rashid Al-Khater, the Undersecretary of the Ministry of Commerce and Industry met today with H.E. Mr. Alexander Khvtisiashvili, Georgia’s Deputy Minister of Foreign Affairs, currently visiting the country.

During the meeting, officials touched on the bilateral relations between the two countries in the commercial, industrial, and investment fields, as well as ways to enhance and develop them. Officials also discussed aspects of joint cooperation between the two sides.

During the meeting, His Excellency the Undersecretary of the Ministry of Commerce and Industry highlighted the economic policies Qatar has put in place to support the private sector and attract foreign investments, especially the incentives, legislation, and investment opportunities made available in Qatar.

Source: Ministry of Commerce and Industry

Manama, With a record number of footfall in the first four days of the Jewellery Arabia, the show has emerged as an instant hit according to exhibitors in this year’s show.

Abdulwahab Al Hawaj, General Manager of Al Hawaj Group applauded His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, for supporting the Jewellery Arabia.

The leadership’s support has led to the tremendous success of the 29th edition of Jewellery Arabia held on November 16 – 20, and which has received overwhelming response from the visitors from Bahrain and the neighbouring countries.

Al Hawaj said he was extremely happy with the return of major events like Jewellery Arabia.

“I am so glad that this event is taking place this year after a break last year due to the pandemic that hit the entire world,” he said.

“I am amazed at the tremendous response of people from Bahrain and our neighboring countries. We see this show is being attended by thousands of people which is an indication of the success of this major annual event that is on the calendar of the Kingdom of Bahrain. I can say that Bahrain is blessed by the grace of Almighty God with businesses coming back to normal.

He added that participation in this year’s show from the local businesses and most of the international brands was tremendous just like every year.

Abbas Shirazi, Director of the Bahrain Jewellery Centre thanked HRH the Crown Prince and Prime Minister for his care and encouragement to businesses in Bahrain.

“As a Bahrain Jewellery Centre, it was among the main partners behind the idea of the creation of Jewellery Arabia in 1991,” he said.

“BJC is a family running business and now we are the fourth and fifth generation serving the people of Bahrain following the footsteps of our fathers and forefathers.”

“We are glad to see great response from the customers not only from Bahrain but also from the GCC. The footfall at the exhibition this year had been tremendous, and we are grateful to all government organizations that have come forward to make this event a huge success. We thank Deputy Prime Minister His Highness Shaikh Ali bin Khalifa Al Khalifa for inaugurating this event. Bahrain has been a home to such exhibitions and we look forward to more major events in the future.”

“We are extremely happy with Jewellery Arabia 2021 once again taking place in Bahrain, thanks to the leadership and the government of Bahrain for opening to businesses again,” said Tarik Chikhi, Area Sales Manager of Chopard for GCC and Middle East Region.

“The event since its opening has received many visitors every day. We are delighted to welcome our customers from Bahrain and the GCC after one year’s hiatus. We can say overall during these days the exhibition has been very successful, our business was good too and we look forward to participating in the next edition.”

Mohammed A.R Shirazi, Director at BJC, said they were excited to be back at Jewellery Arabia 2021 as one of the events that people in Bahrain and beyond look forward to attending.

“These five-days of the event have been a festive time,” he said. “We are happy to see overwhelming response from the people from Bahrain and the neighbouring countries. We would like to extend our thanks and appreciation to the leadership and the government of Bahrain for their support to this event.”

Source: Bahrain News Agency

Manama, Gulf Air, the national carrier of the Kingdom of Bahrain, concluded its participation in Dubai Airshow 2021 with great achievements as it signed a number of agreements during the event and used it as a platform to promote its fleet, products and services.

During the airshow, Gulf Air showcased its flagship aircraft the Boeing 787-9 Dreamliner and its state-of-the-art cabins in its iconic 70th anniversary livery. An executive delegation from Gulf Air represented the airline and led a number of networking initiatives and meeting opportunities with partners and vendors.

Signings included:

• A memorandum of understanding with Emirates to explore developing a codeshare partnership cooperation

• An enhanced memorandum of understanding with Ras Al Khaimah International Airport to introduce direct flights between the Emirate and Bahrain

• A Letter of Intent with EGYPTAIR to explore fields of cooperation

• An agreement with Air France Industries KLM Engineering & Maintenance for CFM56-5B engine support

• An agreement with Safran for maintenance, revision and overhaul (MRO) operations on the landing gear of six Airbus A321 and one A320.

On this occasion, Captain Waleed AlAlawi, Gulf Air’s Acting Chief Executive Officer said: “I would like to thank and congratulate the authorities in Dubai for the warm welcome the United Arab Emirates extended to us during this successfully organized airshow where our participation was fruitful as we’ve met, networked and sealed deals with a number of partners in the aviation industry. As the first major airshow after the pandemic, this was a very important event for key industry players to attend and conclude major business transactions”. He added: “Our objectives is to continue representing the Kingdom of Bahrain on a global platform and to expand our reach through partnerships with regional and international carriers. Next year we will be welcoming the world to our own Bahrain International Airshow and host our industry friends in our beloved Kingdom”.

Dubai Airshow was the only live and in-person aerospace event taking place in 2021 and it featured more than 1,200 exhibitors, representatives from 148 countries, more than 80 start-ups and over 20 country pavilions. The event also featured a static display park & flying display activities which included the world’s most advanced aircraft on ground and in air. Including Gulf Air’s Boeing 787-9 Dreamliner, over 160 aircraft were on display from top international aerospace leaders.

Source: Bahrain News Agency

Tokyo, Japan’s government is considering releasing oil from its reserves in response to rising crude oil prices, Kyodo news agency reported on Saturday, without citing sources.

It would be the first time for Japan to release oil reserves for the sake of lowering prices, although the country in the past has tapped such reserves when it faced natural disasters and geopolitical risks overseas, Kyodo said.

Government officials were not immediately available for comment, Reuters reported.

The government of U.S. President Joe Biden, who faces falling approval ratings and higher gasoline prices, has pressed some of the world’s biggest economies to consider releasing oil from their strategic reserves to quell high energy prices.

The requests include asking China for the first time to consider releasing stocks of crude.

Japan reacted positively to the initial U.S. outreach on a possible coordinated reserve release and was considering such a step, a person familiar with the matter told Reuters previously.

Chief Cabinet Secretary Chief Cabinet Secretary Hirokazu Matsuno declined to comment on Thursday about the U.S. requests, first reported by Reuters.

“We will continue to closely watch how rising crude oil prices will affect global energy markets and the Japanese economy,” he told reporters. “While urging oil-producing nations to ramp up oil output, we will strive to stabilise energy markets by coordinating with major consumer nations and international organisations,” such as the International Energy Agency.

Resource-poor Japan gets the vast majority of its oil from the Middle East. Recent surging oil prices and a weakening yen are driving up the cost of imports, dealing a double blow to a trade-dependent nation.

The government of Prime Minister Fumio Kishida on Friday unveiled a record $490 billion stimulus plan including measures to counter higher oil prices. It plans to subsidise oil refiners in the hope of capping wholesale gasoline and fuel prices to ease the pain to households and firms from rising oil costs.

“What’s important is to urge oil-producing countries to ramp up oil production,” Kishida said last month after discussions with cabinet ministers. “We will arrange concrete measures after confirming what industry sectors are being affected.”

Source: Bahrain News Agency