Foreign direct investment in infrastructure and productive assets fell "significantly" in developing countries last year, hindering their recovery prospects from the coronavirus pandemic, according to a new report by the United Nations.
However, overall FDI flows to developing economies remained relatively resilient and fell 12 per cent in 2020 compared with a 69 per cent decline recorded by richer economies.
“These investment types are crucial for productive capacity and infrastructure development and thus for sustainable recovery prospects,” James Zhan, director of investment and enterprise development at the Geneva-based United Nations Conference on Trade and Development, said.
Productive capacities include entrepreneurial capabilities and production linkages, which determine the capacity of a country to produce goods and services to help it to grow and develop.
“Without investment in the productive sectors of the economy, developing countries will struggle to rebuild from the effects of the pandemic,” Mr Zhan added.
The Covid-19 pandemic, which upended global trade and disrupted the travel and tourism sector, tipped the world’s economy into the deepest recession since the 1930s. Global output is set to expand 5.2 per cent in 2021 after contracting 4.4 per cent last year, according to the International Monetary Fund’s projections.
Global funding for greenfield projects – when a company plans to invest in new production facilities in a foreign country – also declined by 35 per cent in 2020 to an estimated $547 billion.
The decline was steeper in developing economies, dropping 63 per cent in Africa and 51 per cent in Latin America and the Caribbean, according to the report. Even developing economies in Asia – the continent that has best weathered the coronavirus-induced FDI storm – saw a 38 per cent drop in greenfield announcements.
The biggest drop in international project finance in developing economies occurred in the second half of the year and bucks the global trend, the Unctad report said.
“The data suggests that the slide in developing economies is not yet over,” Mr Zhan said. “It sends a worrying signal that project finance in 2021 will be skewed towards developed economies, and that any increase in FDI flows is more likely to come from cross-border mergers and acquisitions than from new investment in productive assets.”
Cross-border merger and acquisition deals dropped 10 per cent in 2020, but rebounded in the second half of the year due to technology and healthcare deals, according to the report.
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Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.
A semen analysis of the father showed abnormal sperm so the couple required IVF.
Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.
A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.
On day three of the process, 14 embryos were biopsied for gender selection.
The next day, a pre-implantation genetic report revealed four normal male embryos, three female and seven abnormal samples.
Day five of the treatment saw two male embryos transferred to the patient.
The woman recorded a positive pregnancy test two weeks later.
Things Heard & Seen
Directed by: Shari Springer Berman, Robert Pulcini
Starring: Amanda Seyfried, James Norton
2/5
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The essentials
What: Emirates Airline Festival of Literature
When: Friday until March 9
Where: All main sessions are held in the InterContinental Dubai Festival City
Price: Sessions range from free entry to Dh125 tickets, with the exception of special events.
Hot Tip: If waiting for your book to be signed looks like it will be timeconsuming, ask the festival’s bookstore if they have pre-signed copies of the book you’re looking for. They should have a bunch from some of the festival’s biggest guest authors.
Information: www.emirateslitfest.com
UNSC Elections 2022-23
Seats open:
- Two for Africa Group
- One for Asia-Pacific Group (traditionally Arab state or Tunisia)
- One for Latin America and Caribbean Group
- One for Eastern Europe Group
Countries so far running:
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Credits
Produced by: Colour Yellow Productions and Eros Now
Director: Mudassar Aziz
Cast: Sonakshi Sinha, Jimmy Sheirgill, Jassi Gill, Piyush Mishra, Diana Penty, Aparshakti Khurrana
Star rating: 2.5/5
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More from Rashmee Roshan Lall
RESULTS
1.45pm: Handicap (TB) Dh80,000 (Dirt) 1,400m
Winners: Hyde Park, Royston Ffrench (jockey), Salem bin Ghadayer (trainer)
2.15pm: Conditions (TB) Dh100,000 (D) 1,400m
Winner: Shamikh, Ryan Curatolo, Nicholas Bachalard
2.45pm: Conditions (TB) Dh100,000 (D) 1,200m
Winner: Hurry Up, Royston Ffrench, Salem bin Ghadayer.
3.15pm: Shadwell Jebel Ali Mile Group 3 (TB) Dh575,000 (D) 1,600m
Winner: Blown by Wind, Xavier Ziani, Salem bin Ghadayer
3.45pm: Handicap (TB) Dh72,000 (D) 1,600m
Winner: Mazagran, Tadhg O’Shea, Satish Seemar.
4.15pm: Handicap (TB) Dh64,000 (D) 1,950m
Winner: Obeyaan, Adrie de Vries, Mujeeb Rehman
4.45pm: Handicap (TB) Dh84,000 (D) 1,000m
Winner: Shanaghai City, Fabrice Veron, Rashed Bouresly.
MATCH INFO
Chelsea 3 (Abraham 11', 17', 74')
Luton Town 1 (Clark 30')
Man of the match Abraham (Chelsea)
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Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
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F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
