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Since becoming a member of the United Nations in 1971, Qatar has played an active role in fulfilling the organisation’s objectives of maintaining international peace and security and fostering development across the globe.Over the past five decades, the relationship between Qatar and the UN has been characterised by co-operation and joint co-ordination, serving global humanity and addressing regional and international crises. Qatar has emerged as a prominent figure in the UN, working tirelessly to prevent conflicts, resolve crises, and contribute to peacebuilding efforts.Qatar’s efforts toward achieving these goals have been multi-faceted, involving hosting numerous conferences, workshops, and meetings dedicated to peace, security, development, democracy, human rights, and fostering a culture of peace. The capital, Doha, has become a hub for international dialogue, playing host to important discussions and initiatives aimed at finding solutions to some of the world’s most pressing issues.Qatar’s commitment to international co-operation is also evident through its close partnerships with various United Nations agencies and specialised bodies. These include institutions such as the United Nations Economic and Social Council, the United Nations Development Programme (UNDP), the International Labour Organisation (ILO), and the United Nations Educational, Scientific and Cultural Organisation (Unesco), among others. Through these relationships, Qatar has continued to support global development initiatives and advance the UN’s mission.Since its independence in 1971, Qatar has prioritised international co-operation as a cornerstone of its foreign policy. Over the decades, the country has shown a deep commitment to supporting international bodies and agencies, both politically and financially. By contributing to peacebuilding efforts, development initiatives, and humanitarian assistance, Qatar has solidified its role as a responsible and active member of the global community. Its efforts are particularly focused on the least developed countries (LDCs), where Qatar works to assist in achieving the Millennium Development Goals (MDGs) and provides aid to those affected by natural disasters, conflicts, and other emergencies.Qatar’s approach to humanitarian assistance is distinguished by its focus on delivering aid through bilateral and multilateral channels, ensuring best practices and high levels of professionalism. Most of the aid is directed to low-income and least-developed countries, in addition to nations struck by natural disasters or conflicts.Among the numerous countries that have benefited from Qatari aid are Indonesia, following the devastating 2004 tsunami, Pakistan, after the 2005 earthquake and subsequent floods, Haiti, and Somalia, among others. Qatar has also played a significant role in assisting displaced people and those affected by wars across the world, including its contributions to humanitarian relief in conflict zones.Qatar’s foreign policy places a strong emphasis on diplomacy and mediation as essential tools for conflict resolution. Over the years, Qatar has built a reputation as a credible and trusted mediator in various international conflicts, contributing to peace efforts through its participation in diplomatic negotiations. This approach has earned Qatar significant international recognition for its ability to bridge divides between opposing parties and foster agreements that satisfy all sides.Qatar’s efforts in this domain have been instrumental in resolving a range of conflicts, with its diplomatic interventions achieving tangible results on the ground through development projects and peacebuilding initiatives.One of the most prominent examples of Qatar’s successful mediation efforts was the signing of the Peace Agreement for Bringing Peace to Afghanistan between the United States and the Taliban in February 2020. This agreement marked a significant milestone in the efforts to end decades of conflict in Afghanistan and restore peace in the region. Qatar’s involvement in this peace process further highlighted its growing role as a mediator in international affairs and demonstrated its commitment to supporting global peace and security.Qatar has also participated in UN peacekeeping missions in various regions, including Lebanon, Bosnia and Herzegovina, Eritrea, and other conflict-affected areas. Additionally, Qatar has played a crucial role in resolving crises in Sudan and Chad, as well as helping to mediate border disputes between Djibouti and Eritrea. These efforts have not only contributed to regional stability but have also positioned Qatar as a key player in international peace and security efforts.In 2021, Qatar again demonstrated its humanitarian leadership by participating in the evacuation of thousands of Afghan and foreign nationals at risk following the Taliban’s return to power in Afghanistan. In addition to providing urgent humanitarian aid to those affected, Qatar also played a pivotal role in supporting the broader international efforts to confront the Covid-19 pandemic.Qatar’s contributions during the pandemic included the provision of much-needed support to countries in need, evacuation and transportation services for stranded individuals worldwide, and United Nations employees to mitigate the pandemic’s effects. Qatar’s aid and development assistance during this period focused on the health, education, water, and sanitation sectors, particularly in countries that had been devastated by natural disasters, such as floods and droughts.Within the framework of its longstanding relationship with the United Nations, Qatar continues to provide extensive support to UN agencies to enable them to carry out their missions effectively.In addition to its mandatory contributions to the UN’s regular budget and peacekeeping operations, Qatar has consistently provided voluntary donations to numerous UN funds and programmes. Between 2000 and 2014, Qatar made substantial donations to over 41 UN-affiliated bodies, supporting the organisation’s efforts to alleviate poverty, improve access to education, and respond to global disasters and crises.Qatar’s voluntary contributions are guided by a comprehensive national approach that aligns with the country’s priorities and strategies for supporting international institutions. This approach focuses on mediation, promoting sustainable development plans, improving the conditions of children in developing countries, and enhancing humanitarian assistance in conflict and war zones. Qatar has contributed significantly to UN initiatives aimed at alleviating complex humanitarian emergencies, including those addressing issues such as entrenched poverty and food insecurity. Among the prominent UN bodies that have benefited from Qatar’s contributions are the United Nations Population Fund (UNFPA), the UNDP, Unicef, and the United Nations Office for the Co-ordination of Humanitarian Affairs (OCHA).Qatar has also taken significant steps to address global challenges through its own institutions. One such initiative is the establishment of the Silatech Foundation, which focuses on tackling youth unemployment worldwide by creating job opportunities for young people.With a capital of $100mn, the foundation has implemented numerous projects and initiatives, particularly in Yemen, Morocco, and Syria. Silatech’s work has had a substantial impact in these countries, providing thousands of young people with opportunities for employment and helping to address the root causes of poverty and instability.Qatar’s efforts to support vulnerable groups in various societies, particularly children, have not gone unnoticed. In May 2020, the UN General Assembly adopted a resolution introduced by Qatar to designate September 9 as the “International Day to Protect Education from Attack.” The resolution was spearheaded by Her Highness Sheikha Moza bint Nasser, Chairperson of the Education Above All Foundation, and called for international support to hold accountable those responsible for attacks on education and children in conflict zones. This initiative reflects Qatar’s broader commitment to protecting education as a fundamental human right and promoting accountability for violations of children’s rights.Beyond its role in peace and security, Qatar has hosted numerous international conferences and forums focused on global trade, development, and democracy in cooperation with the United Nations and other international organisations.These events have included the 2001 WTO Fourth Ministerial Meeting, the 2005 Group of 77 and China Summit, the 2006 Sixth International Conference of New or Restored Democracies, and the 2011 Fourth Global UN Alliance of Civilisations Forum. In 2020, Qatar played a leading role in hosting the Afghanistan Peace Negotiations, which ultimately led to the signing of the agreement to bring peace to Afghanistan.Qatar is also a staunch advocate of the UN’s Alliance of Civilisations initiative, which aims to counter extremist ideologies and promote intercultural dialogue. The initiative has become a crucial platform for fostering understanding between different cultures and religions, and Qatar has continued to provide financial and logistical support for its activities. Since hosting the Fourth Global UN Alliance of Civilisations Forum in 2011, Qatar has been at the forefront of efforts to combat extremism and promote a culture of peace and tolerance.Qatar’s humanitarian and diplomatic efforts extend into the field of sports as well. Qatar is one of the key sponsors of the UN resolution on sport for development and peace, recognising the role of sports in promoting global unity and development. The country has hosted numerous international sporting events, including the FIFA World Cup in 2022, which garnered international acclaim for its organisation and success. Initiatives like “National Sports Day” and the “Doha Goals” platform have further enhanced Qatar’s efforts to use sports as a tool for promoting global development and peace.Qatar’s dedication to advancing human rights is evident from its active membership in the United Nations Human Rights Council, where it served from 2007-2010, 2011-2013, and 2015-2017. During these periods, Qatar worked closely with other member states to address specific threats to human rights, particularly through its participation in the Group of Friends United against Human Trafficking. Doha is also home to the United Nations Human Rights Training and Documentation Centre for South-West Asia and the Arab Region, which plays a key role in raising awareness about human rights issues in the region.In the context of combating terrorism, Qatar has been a proactive participant in international efforts. The country emphasises the need to address the underlying causes of terrorism, advocating for an approach that does not associate terrorism with any particular religion, culture, or civilisation.As a founding member of the Global Counterterrorism Forum (GCTF), Qatar co-ordinates with 30 countries to develop initiatives that address emerging threats, including terrorist financing. Qatar is also an active member of the Terrorist Financing Targeting Center (TFTC), a coalition of GCC states and the United States aimed at combating terrorist financing.In December 2018, Qatar signed an agreement with the United Nations Office of Counter-Terrorism (UNOCT) to establish a regional office in Doha, contributing $75mn to support the office’s global strategy. This partnership was further strengthened in 2019 with the first Qatar-UNOCT Strategic Dialogue, held at the UN headquarters. These initiatives underscore Qatar’s commitment to combating terrorism on a global scale while promoting sustainable peace and security.In conclusion, Qatar’s contributions to international peace, security, and development through its partnerships with the United Nations and other global institutions reflect the country’s commitment to fostering a more just and equitable world. By focusing on diplomacy, mediation, humanitarian aid, and sustainable development, Qatar has positioned itself as a key player in global efforts to address some of the most pressing challenges facing humanity today.

The origin of the Sars-CoV-2 virus, which caused the Covid-19 outbreak that disrupted life across the world for nearly three years from January 2020, has been a topic of contention. While the Huanan seafood market in Wuhan, China, was in the centre of the storm during the initial months, later on an alternative suggestion emerged that the virus escaped from the Wuhan Institute of Virology, where staff were known to be studying bat coronaviruses, but not Sars-CoV-2.However, a new study by an international team concludes ‘beyond reasonable doubt’ that it is more likely that the virus emerged from wild animals sold at the market and not from a lab escape. The researchers re-analysed data from 800 samples collected at the Huanan market by the Chinese Center for Disease Control and Prevention beginning on January 1, 2020, and also studied viral genomes from the earliest Covid-19 cases. The Chinese government made the market data available in 2022, fully allowing scientists to conduct an in-depth study of the market-origin hypothesis. The results were published in the journal Cell last Thursday.Team member Ed Holmes at the University of Sydney said Chinese investigators swabbed surfaces, freezers, drains and cages to test for the presence of Sars-CoV-2. “We analysed these data to determine which species were present and where they were found in the market, particularly in relation to where Sars-CoV-2 was found,” he said. An analysis of genetic samples taken from the Huanan seafood market has identified a shortlist of wild animals being sold there that were the most likely source of the virus that sparked the Covid-19 pandemic.While bats are thought to have been the original carrier of the Sars-CoV-2 virus, it has been previously proposed that an intermediate wild species became infected and brought it to the market, where an outbreak in humans began. Stalls there sold live animals as well as seafood. The team found evidence for a variety of wildlife being sold at the market that could have been an intermediate host for the virus, including common raccoon dogs, masked palm civets and hoary bamboo rats. Importantly, traces of these animals were found in exactly the same stalls as Sars-CoV-2, said Holmes. “This suggests – but does not prove – that the animals were infected. Hence, it is very likely that Sars-CoV-2 emerged in a live animal market. All the scientific data point one way — to Sars-CoV-2’s natural zoonotic origin in the Huanan market, Wuhan,” stated Holmes.The genetic studies of the virus in the earliest Covid-19 cases revealed that few, if any, people were infected prior to the market outbreak, the team reported. However, it couldn’t rule out the possibility that the virus was brought to the market by an infected person handling animals. Team member Zach Hensel at NOVA University Lisbon, Portugal, said the study highlights the preventable risks posed by the human-wildlife interface in Huanan market, and the need to mitigate these risks in similar locations.“Even though humans were, of course, everywhere in Huanan market and live mammals were concentrated in a small number of stalls, human viruses, other than Sars2, were rare and several animal viruses were quite abundant,” says Hensel. “This included one influenza virus with zoonotic spillover potential and an animal virus closely related to others that had caused devastating animal outbreaks.” He was of the view that simple personal protective equipment recommended for such settings prior to the outbreak of Covid-19 could have prevented the entire pandemic.

His Highness the Amir Sheikh Tamim bin Hamad al-Thani’s commitment to attending the annual sessions of the United Nations General Assembly (UNGA) emphasises Qatar’s dedication to its international responsibilities and the positive image of Qatar and its people, as well as its civilisational and humanitarian role on various global issues and challenges as well as towards friendly and brotherly peoples.HH the Amir’s speeches at the United Nations conveys numerous local, Arab, international, and humanitarian messages, affirming that Qatar has been and will continue to safe safeguard rights, uphold commitments, aid those in need, support the oppressed, stand for truth and justice, respect neighbours’ rights, and adhere to values and ethics.Additionally, Qatar presents a bright model of a secure and stable state capable of achieving high development rates and providing the highest standards of living for its people and residents.HH the Amir’s speeches have also demonstrated that Qatar prioritises contributing to the peaceful resolution of conflicts, including proposing ideas for collective security, as there can be no security, stability, development, or dignified human life in the presence of conflicts.Additionally, HH the Amir’s speeches presented insightful strategic visions and effective humanitarian initiatives, highlighting Qatar’s commitment to global peace, justice, harmony, and economic growth, as well as promoting dialogue, discussion, and diplomacy to resolve wars and crises around the world.During the 78th United Nations General Assembly (UNGA), HH the Amir said, “In Qatar, we have had a dream that our country would be one of the prosperous nations whose people would enjoy well-being and prosperity, and we invested decades of planning and comprehensive development work to make this dream come true. We have achieved a lot, thanks to God, and the solidarity of everyone in Qatar. While investing in liquefied gas was a leverage to realise this dream, this investment has enabled us to play an important role in addressing the energy challenge around the world with a realistic vision that takes into account the world needs for a diverse mix of different energy sources by using the highest levels of advanced technology which is, at the same time, environmentally friendly.”Arab concerns, especially the Palestinian cause, occupied significant place in HH the Amir’s speeches before the UNGA. His Highness has consistently emphasised the just nature of the Palestinian cause and the right of its people to freedom, independence, and the establishment of their own state. He has repeatedly criticised the international community’s failure to take effective steps against Israeli intransigence, the ongoing occupation of Palestinian and Arab territories, the suffocating blockade on the Gaza Strip, and the continuous expansion of settlement policies.His Highness has stressed that it is not acceptable for the Palestinian people to remain prisoners of the Israeli settler occupation arbitrariness, and the rejection of any just political solution in accordance with the principles of international legitimacy by successive Israeli governments.In his speeches at the United Nations, HH the Amir called on the international community – especially the Security Council – to assume its legal responsibility and compel Israel to lift the siege on the Gaza Strip and put the peace process back on track through credible negotiations based on international resolutions and not force, address all final status issues, end the occupation within a specific period of time, establish an independent Palestinian state on the 1967 borders with East Jerusalem as its capital, and end the Israeli occupation of all occupied Arab territories.HH the Amir stressed that Israel must realise that the security of its people will only be achieved through peace, and that the occupation is destined to disappear, and that it must know that oppression and the policy of fait accompli do not create security. His Highness pointed out that within the framework of Qatar’s efforts to create the appropriate environment to achieve peace and respond to the economic and humanitarian difficulties facing our brothers in Palestine, Doha continued in co-ordination with international partners to provide humanitarian and development support to address urgent and long-term needs in the besieged Gaza Strip, in addition to enhancing its contributions to UNRWA.On Syria, HH the Amir said that it is not permissible to condone the gross injustice that has befallen the brotherly Syrian people as if it’s their destiny. The crisis is still awaiting a comprehensive settlement through a political process leading to a political transition, in accordance with the Geneva Declaration-1 and the Security Council Resolution 2254, in a way that meets the Syrian people’s aspirations while maintaining Syria’s integrity, sovereignty and independence.His Highness expressed sorrow on the outbreak of violence in Sudan, which has left a dire impact on the Sudanese people and exacerbated refugee crisis, adding during the 78th UNGA, “We condemn the crimes perpetrated against civilians in the capital Khartoum and the Darfur region, and we call for holding perpetrators to account. We also call for cessation of fighting, resort to the voice of reason, and spare civilians the consequences of fighting. We affirm our support for all regional and international efforts to facilitate reaching a ceasefire and hold a dialogue between the Sudanese political forces about the future of Sudan, with only one army charged with protecting rather than ruling the country.”Regarding Lebanon, HH the Amir stressed the importance of finding a sustainable solution to the political vacuum, introducing mechanisms that thwart its recurrence, and forming a government capable of addressing the aspirations of the Lebanese people and getting them out of their economic and developmental crises, expressing regret for the long suffering of this brotherly people due to political and personal calculations.On Yemen, HH the Amir, in all his speeches, underscored Qatar’s keenness on the unity of Yemen and the integrity of its territories, calling for the crisis to be resolved in accordance with the resolutions of the National Dialogue, the Gulf Initiative, and the relevant Security Council resolutions.Concerning the Libyan issue, HH the Amir reiterated Qatar’s unwavering support for the efforts of the Special Representative of the Secretary-General, Head of the United Nations Support Mission in Libya, and his efforts to achieve tangible results to resolve Libyan crisis.In His Highness the Amir Sheikh Tamim bin Hamad al-Thani’s speech at the 76th Session of the UN General Assembly, which marked the 50th anniversary of Qatar joining the United Nations on September 21, 1971, His Highness said that during the past five decades, the relationship between Qatar and the international organisation has been characterized by close co-operation and the establishment of exemplary partnerships in various fields. Qatar’s bet on international institutions and multilateral co-operation is a strategic one.The speeches reflected Qatar’s pride in its partnership with the United Nations, especially with the inauguration of the United Nations House in Doha and Qatar’s hosting of several international conferences such as the Fifth United Nations Conference on the Least Developed Countries (LDC5). His speeches also noted that Qatar has become one of the largest supporting partners of the UN across various fields. Qatar’s developmental and humanitarian contributions have extended to over 100 countries worldwide. Additionally, Qatar supports more than 10mn children globally and is preparing 1.2mn Arab youth to be active and productive members of their communities.During HH the Amir’s participation in the 75th Session of UNGA, His Highness delivered a speech, stressing that this step represented a great hope for mankind in the aftermath of the disasters of the Second World War, pointing out that the United Nations had made great strides in achieving the goals agreed upon by the international community, and has been able over the past decades to make many contributions for the advancement of humanity, saving millions of people and changing their lives for the better. But it is still falling short of finding the necessary mechanisms to impose its principles on its members, while the right of might still outweighs the might of right in different regions of the world.HH the Amir’s speeches also addressed the importance of achieving comprehensive reform, particularly regarding representation in the UN Security Council as well as the mechanisms of implementing its resolutions, avoidance of double standards in implementation, and review of internal regulations that correlate common security issues with the positions of each of the five major states.In the context of ensuring the security and stability of the Gulf region specifically, and the Middle East in general, and protecting them from nuclear threats and dangers, His Highness emphasised in his speeches at the United Nations that Qatar believes in the necessity of reaching a fair agreement on the Iranian nuclear programme.On Afghanistan, HH the Amir said that Qatar continues to co-ordinate international efforts and facilitate dialogue between the UN, the countries concerned, and the caretaker government of Afghanistan to ensure compliance with the Doha Agreement, in a way that ensures non-recurrence of past mistakes, in order to prevent Afghanistan from sliding into a difficult-to-manage humanitarian crisis and to ensure that the Afghan people receive the international support and assistance they need, and enjoy human rights, particularly minority rights and women’s rights in education and work.Recognising the risks arising from the war in Ukraine and its negative global impacts on vital areas such as energy and food, and in the absence of a permanent political solution, HH the Amir reiterated the call on all parties to comply with the UN Charter and the international law, respect the sovereignty and territorial integrity of states, and resort to a radical peaceful solution that is based on these principles.HH the Amir also emphasised that the path to resolve conflicts through peaceful means is a long and strenuous path, but it is less costly than wars, pointing out that Qatar’s commitment to continue its efforts in facilitating and making peace is a firm commitment deeply rooted in the core of its foreign policy.Counterterrorism is a priority in Qatar’s policy at the national, regional, and international levels. His Highness addressed this issue multiple times in his speeches before the international organisation, affirming that terrorism remains one of the most prominent challenges facing the world as it poses a real threat to international peace and security, and impedes achieving sustainable development for peoples.His Highness’s speeches at the United Nations have illustrated that Qatar spare no effort to actively participate in international and regional efforts to address this phenomenon and tackle its roots, especially by supporting education for millions of children, youth and women and creating job opportunities for young men.Additionally, His Highness’s speeches have indicated that eradicating terrorism requires a comprehensive approach that includes addressing its political, economic, and social roots alongside security and military actions, and that it is crucial to distinguish between terrorism and resistance to occupation.On climate change, His Highness the Amirs speeches have demonstrated that the State of Qatar has embraced its responsibility as an active partner in the international community to address climate change. In 2012, Qatar hosted the 18th session of the Conference of the Parties (COP18) and the Doha Carbon & Energy Forum (DCEF). Qatar has also made significant efforts to ensure the success of the Paris Climate Agreement negotiations in 2015. The country has undertaken numerous measures to develop climate-friendly technologies, adopt clean energy, and diversify its energy sources to include a varied mix of sustainable sources such as solar energy, hydrogen, wind power, and hydrocarbon resources. Additionally, Qatar focuses on optimal water use, improving air quality, recycling waste, and increasing green spaces.During the Climate Action Summit held on the sidelines of the 74th Session of the UNGA, His Highness the Amir announced Qatar’s contribution of $100mn to support least developed countries and small island developing states to address climate change and environmental challenges and building capacity to confront their devastating effects.Regarding the FIFA World Cup Qatar 2022 and the role of sports in fostering connections between countries and people, His Highness the Amir said during his speech at the 78th UNGA session that, during the 2022 World Cup “there was an opportunity for interaction between peoples, and for the world to see our people as they are, to learn about some aspects of our culture and values, besides Qatar’s stature as a global destination and nexus between East and West, and we emphasised the role that sport plays in building bridges of communication and rapprochement between peoples and cultures. I hope that we have contributed, through this tournament, to breaking the stereotypes, and presented a new exciting and safe tournaments formula to the world.”During the 76th UNGA session, HH the Amir, addressed the impacts of the Covid-19 pandemic, which caused millions of victims and countless humanitarian, social, and economic crises. HH the Amir said that this “difficult test, which humanity is continuing to face, has revealed the flaws and vulnerabilities in our collective security system, meanwhile it has inspired us with many lessons, namely, the importance of balancing the concern for people’s health and maintaining the economic cycle that secures at the same time their livelihoods, as well as the importance of integration between the indispensable role of the state within its borders, on the one hand, and its role in confronting cross-border issues and joint commitments to confront challenges, crises and disasters, on the other hand.”His Highness pointed out that Qatar, in line with its commitment to global humanitarian efforts, provided assistance to over 60 countries and five international organisations, and actively participated in international efforts to mobilise resources and energy to address the pandemic and its consequences.HH the Amir’s speeches have addressed many global humanitarian issues such as the rapid advancement of technology and the increasing reliance on it, which open unprecedented horizons for human progress. Science and technology are key to increasing productivity and improving the quality of human life. However, His Highness cautioned in his speeches that celebrating technological means without responsible consideration of their intended purposes has led to major disasters, such as the use of nuclear weapons, dangerous experiments on humans, and genocide in concentration camps.His Highness emphasised the importance of keeping pace with and encourage scientific and technological advancements and removing barriers between countries in this field. He warned against ignoring the growing risks associated with issues such as reality manipulation, invasion of individuals’ privacy, disruption of the educational process through plagiarism facilitation, and the amplification of misleading propaganda and deception tools. His Highness called for co-operation and investment in developing these technologies to unify efforts in preventing the misuse of cyberspace and regulating this vital area in accordance with international law. (QNA)

Juventus and Napoli played out a goalless draw on Saturday as two teams tipped to challenge for the Serie A title cancelled each other out on Antonio Conte’s return to his old stomping ground.A fiercely contested, but far from exciting contest at the Allianz Stadium in Turin ended with Juventus maintaining their unbeaten start to life under new coach Thiago Motta. Juve are yet to concede in Serie A this season but their third consecutive league stalemate denied them top spot, currently held by local rivals Torino following their 3-2 win at Verona on Friday.Torino are a point ahead of Udinese, who are at Roma on Sunday, and third-placed Napoli, while Juve are a further point back in fourth. “Without goals, it is impossible to win games,” said a blunt Weston McKennie.Motta drew surprised reactions when he substituted Dusan Vlahovic at half-time for Timonthy Weah, the Serbia striker taken off purely for tactical reasons.Vlahovic hasn’t scored in five of his six appearances this for Juve this season and only touched the ball six times in the first half in another frustrating display.Napoli coach Conte, a winner of eight Serie A titles and the 1996 Champions League in 16 years with Juve as player and coach, was reserved a low-key welcome by his former supporters. Conte had been back to Turin as Inter Milan coach but during the Covid-19 pandemic when fans were not present in the stadium.And his team did a fine job of shutting the match down while also creating the two best chances of an underwhelming match either side of half-time, with Michele Di Gregorio pulling off a super save from Matteo Politano who also slammed over shortly after the break.Before kick-off fans remembered Toto Schillaci, the former Juve striker who became a national hero by scoring six times for Italy at the 1990 World Cup. Schillaci died on Wednesday at the age of 59 after suffering from bowel cancer.There was little goalmouth action once the match got underway, with the first real chance not coming until stoppage time when Di Gregorio did brilliantly to tip away Politano’s free-kick as it whizzed past Romelu Lukaku’s head.Politano was in the thick of it again nine minutes after the break when he cut inside and fizzed a curling shot just over the bar. That was the last major incident of a match as both teams seemed happy to settle with a draw rather than risk defeat to a direct rival so early in the season.Earlier, Venezia won their first match since being promoted, claiming a 2-0 home win over Genoa.ResultsJuventus 0 Napoli 0; Venezia 2 (Busio 63, Pohjanpalo 85) Genoa 0Playing Sunday (GMT): Fiorentina v Lazio (1030), Monza v Bologna (1300), Roma v Udinese (1600), Inter Milan v AC Milan (1845)Playing Monday: Atalanta v Como (1845)Played Friday: Cagliari 0 Empoli 2 (Colombo 33, Esposito 49); Verona 2 (Kastanos 12, Mosquera 90+3) Torino 3 (Sanabria 10, Zapata 33, Adams 79)

Doha College hosted Sir Lindsay Hoyle MP, Speaker of the House of Commons, on campus.Accompanied by The UK’s ambassador to Qatar, Neerav Patel, Sir Lindsay’s visit was aimed at strengthening the enduring ties between the nations. His presence provided a unique opportunity for the students to gain firsthand insight into the world of politics from a prominent figure in British governance, a statement said.Sir Lindsay engaged with Year 12 and 13 pupils, along with similarly aged guests from Park House English Speaking School.He spoke about his career in politics, highlighting key moments and challenges he has faced along the way. Pupils were then invited to pose their questions, leading to a discussion that covered a wide range of topics.They included the importance of political engagement across generations, the impact of Covid-19 measures on parliamentary procedures, the role of hereditary peers in the modern political landscape, the complexities of Brexit for Parliament, and his experiences and responsibilities as Speaker of the House.“Sir Lindsay more than matched the warm reception he received from our staff and students. His enthusiasm for the role and for inspiring our bright young minds to learn more about, or even enter, the world of politics was palpable. We were delighted to be brought to order by Sir Lindsay,” said principal David Tongue.

Just a week ago, before deadly floods swept through central Europe, the Czech Republic looked on track to become the first country in the region since Covid-19 to pull its budget deficit firmly below the 3% of GDP cap set by European Union rules.Now that small victory for public finances hangs in the balance as the Czech Republic and Poland, which have borne the brunt of the deluge, count the cost of the worst floods to hit the region in at least two decades.Based on estimates from local officials, the damage to infrastructure could reach a combined $10bn in these two countries alone.Poland’s finance minister said the $5.6bn allotted from EU funds would cover some, but not all of the costs to recover from the floods.Economic losses linked to extreme weather are adding to strains on state finances in a region still squeezed by the aftermath of the Covid-19 pandemic and the inflation surge following Russia’s 2022 invasion of Ukraine.Since the pandemic when EU member states set aside the bloc’s stipulation that they keep annual deficits to 3% of gross domestic product, budget shortfalls in the region ballooned to as much as 9% of GDP in Romania and 7% in Poland and Hungary. Inflation and elections in Poland, Hungary and Romania – with the inevitable promises of largesse – further hampered deficit cuts.Higher military investment, inflation-linked spending on pensions and increased debt servicing costs are also stretching budgets. On Thursday, the Czech finance ministry said it would allocate 30bn crowns ($1.3bn), or 0.4% of GDP, for flood damage in a 2024 budget amendment. This could push the Czech deficit close to the 3% set under EU rules, up from an original 2.5% target, with next year’s deficit now also projected above earlier plans.The unexpected pressure on Czech finances highlights the scale of the challenge facing the rest of the EU’s eastern member countries still grappling with larger deficits ranging from nearly 7% in Romania to more than 5% in Poland and Hungary.A analysis of draft budgets and government announcements on fiscal plans shows Poland and Hungary could take most of this decade to reduce shortfalls to below 3% while Romania may not achieve this until the 2030s.For Poland, the region’s largest economy, general government debt could rise to 60% of GDP by 2027 due to increased borrowing, which will lift debt-related expenditure.The Polish budget deficit is forecast to exceed 5% of GDP in 2025, followed by “very gradual consolidation” towards a 3% shortfall over the next four to five years.Saddled with the cost of flood repairs, Poland will now push for some more EU leeway in shoring up its state finances.The floods hit a region already reeling from a weak German economy, the destination for 20%-30% of central European exports, with possible long-term ramifications for state finances.Debt servicing costs surged to 4.7% of GDP in Hungary and 2% in Poland and Romania last year, with only the Czech Republic’s 1.3% of GDP interest bill running below the EU average – but still nearly twice the 0.7% level seen before Covid-19.Romania has yet to unveil a 2025 budget, with Bucharest considering a seven-year timeframe to rein in its deficit from the EU’s highest levels, which some economists say could reach up to 8% of GDP this year due to a costly pension reform. Hungary, whose budget deficit has averaged nearly 7% of GDP since the pandemic, has pledged to lower it to 4.5% of GDP this year, though it is expected to be a full percentage point higher even after recent attempts to curb the gap.

President Andres Manuel Lopez Obrador’s controversial judicial reforms making Mexico the world’s only country to elect all its judges by popular vote have spooked financial markets and investors.What are the implications of the changes for Latin America’s second-largest economy?Experts have warned that the reforms will lead to increased uncertainty about Mexico’s legal operating environment — in particular whether disputes between the government and the private sector would be resolved in an impartial manner.“This is such a fundamental change to the Mexican judiciary that foreign investors are still trying to figure out what this will mean,” said Jason Marczak, vice-president of the Adrienne Arsht Latin America Center at the Atlantic Council, a US-based think tank.“There’s concern that the decisions that judges may take are not necessarily decisions that only take into account Mexican law and legal agreements that Mexico has with the United States and Canada” as part of a regional free trade agreement, he said.Investors worry that “there would be an inclination to also make decisions based on what will resonate well with the voters,” Marczak told AFP.Moody’s Ratings has warned that the new law “risks politicising Mexico’s federal and Supreme Court rulings, undermining the system’s independence.“The judicial overhaul will erode checks and balances, risking undermining Mexico’s economic and fiscal strength,” the ratings agency said.The Mexican employers’ association Coparmex has said that the government “is sending a worrying signal about Mexico’s institutional fragility, putting at risk our relationship with our trading partners, the flow of capital and economic growth.”Lopez Obrador — who says the reforms are needed to fight corruption — has played down such warnings, predicting that 2024 “will be the year with the most foreign investment in the history of Mexico.”The leftist leader, who will leave office on October 1, has blamed a fall in the value of the Mexican peso to a two-year low against the dollar on “external factors.”The country hopes to benefit from the so-called “nearshoring” trend of US companies moving operations closer to home to places such as Mexico instead of Asia. But Moody’s Ratings warned that changes in the judiciary system “would be particularly harmful to future investment in nearshoring opportunities.”Geopolitical tensions and supply chain gridlock during the Covid pandemic have prompted a growing number of companies to consider relocating to the doorstep of the world’s biggest economy.While that trend is unlikely to stop completely, the reforms may make companies think twice, according to experts. Long-term economic certainty is key for attracting investment, Marczak said.“The reforms will give an additional layer of questioning in the boardroom,” he added.The United States and Canada — Mexico’s partners in a sweeping regional free trade deal — have both raised concerns about the reforms.Experts say that could complicate a review of the United States-Mexico-Canada Agreement (USMCA) due by 2026.“It was going to be already a very contentious revision,” Carlos Ramirez, partner at political risk consultancy firm Integralia Consultores, said recently at a roundtable.Now the judicial reforms and the planned elimination of autonomous institutions “will make Mexico much more vulnerable” going into the negotiations, he added. According to Emerging Markets Political Risk Analysis, another consultancy firm, the reforms might potentially violate the regional trade deal, which assumes an independent judiciary.“Although it is unlikely that the US or Canada would withdraw from the USMCA due to the strong economic interdependence between the countries, increasing frictions could complicate the 2026 USMCA ratification process and limit Mexico’s opportunities,” it said.The British consultancy firm Oxford Economics said while the reform “does not pose an immediate threat to the overall economy,” uncertainty will dampen investment.It said the changes could lead to investment falling 12% below its baseline forecast, weighing on economic growth.Even before lawmakers approved the reforms, Mexico’s central bank reduced its forecast for economic growth this year to 1.5%, from a previous prediction of 2.4%, amid global headwinds.According to Gabriela Siller, head of economic analysis for the financial group Banco BASE, the judicial reform now “increases the likelihood that the Mexican economy will fall into recession.”

A group of 22 financially distressed countries, including Pakistan and Ukraine, has become the largest source of net revenue to the International Monetary Fund in recent years, with payments exceeding the Fund’s operating costs. The institution entrusted with providing the global public good of a well-functioning international financial system is, in effect, asking countries that are hardly able to pay their own bills to pick up the tab for the rest of the world.This unseemly state of affairs is the result of the IMF’s surcharge policy, which levies additional fees on countries that exceed thresholds for the amount or length of their borrowing from the Fund. Imposing fines on countries like war-torn Ukraine or Pakistan, a lower-middle-income country where flooding two years ago submerged one-third of its territory, seems antithetical to the IMF’s mission: maintaining stability in the global financial system.Surcharges neither ensure repayment nor protect IMF finances. Their main effect is to increase the burden of debt payments precisely when countries can least afford it, contravening the very rationale of the Fund, which was created to provide counter-cyclical financing.Worse, surcharges have become much more onerous for indebted countries in recent years, and thus much harder to justify. In 2020, ten countries were paying these fees to the IMF; by 2023, with the Covid-19 shock, the Ukraine war, and rising interest rates, that number had risen to 22. And, importantly, the IMF’s basic rate increased from under 1% to close to 5%, raising the total lending rate for those paying surcharges to as much as 7.8%. No wonder these countries are finding it difficult to emerge from debt distress. It is time to end the surcharges.Supporters of the surcharges argue that the additional fees discourage debtors from borrowing excessively from the IMF. But this moral-hazard argument ignores that loans require approval from the Fund’s Executive Board, which could reject frivolous requests, and it overlooks the fact that surcharges make countries more dependent on the IMF, not less.The IMF is a preferred creditor, meaning that countries must repay the Fund before other creditors. Piling surcharges on top of what countries already owe requires them to put more scarce foreign currency toward repaying the IMF, limiting their ability to accumulate foreign-exchange reserves and regain access to international capital markets. Given this, many countries will have no option but to remain dependent on lending from the Fund to pay down their previous IMF loans.Even beyond the particularities of the IMF’s preferred-creditor status, surcharges are inherently pro-cyclical. External factors such as rising interest rates, commodity price shocks, overvalued currencies, and extreme weather events often lead countries to borrow large sums from the Fund. Similarly, the ability to access international credit markets and repay the IMF “earlier” depends largely on global financial conditions, also an external factor. In an adverse international environment, increasing the burden on countries suffering debt crises is counterproductive to the goal of restoring stable growth trajectories.Defenders of the surcharges also argue that they are needed to build up the IMF’s financial buffers. But leaving aside the obvious point that imposing the burden of creating these buffers on distressed countries is at odds with the Fund’s mission of protecting financial stability, this logic no longer holds, if it ever did.This year, the IMF is set to reach its medium-term target for precautionary balances (the need for which has been greatly exaggerated, given that defaults by borrowers are extremely rare). Once that target has been met, surcharges would be taking money from heavily indebted middle-income countries to run the IMF – reducing the burden placed on rich countries. Asking these countries to finance the global public goods that the Fund provides is wrong, especially at a time when countries should be ramping up investment to meet the United Nations 2030 Sustainable Development Goals and their nationally determined contributions under the Paris climate agreement.The IMF’s recently launched review of its surcharge policy provides an opportunity to fix a broken system. The Fund should listen to those calling for surcharge reform, including Barbadian Prime Minister Mia Amor Mottley, the G24 group of developing countries, and several legislators in the United States.The simplest and most effective option would be to eliminate surcharges altogether. If this proves politically impossible, reforms could include capping total interest charges (the basic rate plus surcharges). The IMF would therefore impose fewer excessive burdens on indebted countries, especially in tight monetary conditions, and surcharges would decrease as the Fund’s basic interest rate rises.Other technical adjustments would help reduce the burden of surcharges. For example, the IMF could raise the thresholds for imposing surcharges, and align them with the current “exceptional access” limits, beyond which a country’s situation is considered extraordinary enough to allow lending outside the standard IMF framework. Counting what a country pays for surcharges as principal payments on IMF loans would also make a big difference.Even if surcharges used to make sense as a policy, they certainly don’t now. The IMF’s finances are robust; the finances of countries like Pakistan and Ukraine are not. Forcing countries to pay onerous surcharges only adds to their burden. That is no way to protect the world economy or fund the institution in charge of global financial stability. — Project Syndicate• Joseph E Stiglitz, a former chief economist of the World Bank and former chair of the US President’s Council of Economic Advisers, is University Professor at Columbia University, a Nobel laureate in economics, and the author, most recently, of The Road to Freedom: Economics and the Good Society.• Kevin P Gallagher is Professor of Global Development Policy at Boston University and Director of the Boston University Global Development Policy Center.• Martín Guzmán is a former minister of economy of Argentina.• Marilou Uy, former director of the Secretariat of the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G24), is a non-resident senior fellow at the Boston University Global Development Policy Center.

Qatar Central Bank (QCB) decided to reduce the current interest rates for deposits, lending and repo by 0.55% or 55 basis points (bps) last night.The new rates will take effect on Thursday, September 19, QCB noted.Qatar Central Bank’s deposit rate (QCBDR) will now be 5.20%, lending rate (QCBLR) 5.70% and repo rate (QCBRR) 5.45%.In a message on X, QCB said the rate cut followed its “assessment of the current monetary policy of the State of Qatar.Meanwhile, the United States Central Bank - Federal Reserve announced a 0.5% (50 basis points) rate cut last night, its first rate reduction cut since Covid-19 decimated the global economy.Terming the rate cut as “aggressive”, broadcaster CNN noted, “The Fed said the cut signals inflation is under control. But it could also suggest the economy, which is showing signs of stress, is in need of a jolt. The Fed said job creation and inflation are ‘in balance’, and most mainstream economists agree a recession is not around the corner. But few economists believe the US economy is not out of the woods yet.”

Paris and Milan are among the cities closest to reaching the urban planning goal of being a “15-minute city,” while car-dependent metropolises in the United States and elsewhere lag behind, a worldwide analysis said yesterday. In fact, the central areas of many cities already meet the definition of a 15 minute-city, which means that residents are within a quarter-hour walk or bike ride from everything they need to a lead a good life, the analysis found. But even within a city, there are often stark differences between the wealthy inner cities and the urban sprawl on their outskirts, according to the Italian researchers behind the new study. The concept of the 15-minute city gained traction during the Covid pandemic, when lockdowns put more focus on local neighbourhoods. It has since been embraced by dozens of mayors around the world — and become the target of conspiracy theorists online. For the new study, published in the journal Nature Cities, the researchers built an online database looking at roughly 10,000 cities globally. They used open source data to map out how far of a walk or cycle residents were from different services, including shops, restaurants, education, exercise and healthcare. “A lot of people already live in a 15-minute city,” study co-author Hygor Piaget Monteiro Melo told AFP. But it depends on where you look within a city, he said, because of the inequality in access to services between the centre and periphery. What is clear, the researchers noted, is that population density is a crucial factor — if enough people are living close enough to each other, it is much easier for them to have easy access to services. This meant that somewhat smaller yet relatively dense cities such as Italy’s Milan or Spain’s Barcelona scored well on their map, which was made available online. When it came to the biggest cities, “Paris is an outlier,” lead study author Matteo Bruno told AFP. The mayor of Paris embraced the concept in 2020, and a “considerable fraction” of the city is below the 15-minute mark, the study said. Some European cities have a head start because they were built centuries ago at a time before cars — when basically all towns had to be 15-minute cities, the researchers said. Cities built more recently with cars specifically in mind — particularly in the United States — fared far less well on the map. Atlanta in particular stood out as being a long way from being a 15-minute city. Future Olympic host Los Angeles also lagged behind most others for walkability, as did several Chinese cities including Chongqing. But when it comes to cities, there are always trade-offs — and there is no single right answer, the researchers said. “The 15-minute city is often presented as a utopia — it’s not,” Bruno said. Americans in sprawled-out cities usually have their own houses and backyards, while Europeans in densely populated cities tend to live in apartments, illustrating the important role played by culture, Bruno said. And central parts of US cities such as New York, San Francisco and Milwaukee were under the 15-minute threshold. “Manhattan is definitely one of the most 15-minute places ever in the world,” said Bruno, a researcher at Sony Computer Science Laboratories in Rome. There has been confusion about the concept in the past, the researchers lamented. For example, “traffic has nothing to do with the 15-minute city,” Bruno said. In fact, slow traffic could indicate an area is more pedestrian friendly, he added. Yet it was new “low-traffic zones” in the UK that turned the ire of conspiracy theorists towards 15-minute city proponents. Confusing the two ideas, online groups including vaccine and climate sceptics falsely claimed that 15-minute cities were part of a secret plot to restrict the movement of citizens. The Italian researchers, who have themselves been targeted by “Twitter haters,” emphasised that nothing about the 15-minute city concept involves confining anyone. Researcher Carlos Moreno, a high-profile proponent of 15-minute cities who has advised Paris Mayor Anne Hidalgo, was also “attacked by the worldwide conspiracy mongers,” he told AFP. Moreno welcomed the new study, praising how the idea had swiftly become a topic of interest for researchers around the world. Just last week, Valerie Pecresse, the right-wing head of the greater Paris Ile-de-France area, presented a plan for a 20-minute region, he pointed out. Bruno said that the 15-minute metric is just one element in the “recipe” that makes a good city. Other parts of the recipe include tackling inequality and segregation, improving public transport, reducing traffic and so on, he said.

Donald Trump’s campaign vow to increase tariffs on imported goods, particularly from China, has the support of a narrow majority of US voters, illustrating his economic advantage over rival Vice-President Kamala Harris, a new Reuters/Ipsos poll shows.The Republican former president and his Democratic opponent have both vowed to pursue tax cuts if they win the November 5 election.However, voters also credit Trump with being more likely to lower the $35tn national debt – even though independent economic forecasters say that his proposals would have the opposite effect.Some 56% of registered voters in the September 11-12 poll said they were more likely to support a candidate backing a new 10% tariff, or tax, on all imports, as well as a 60% tariff on imports from China.By comparison, 41% said they were less likely to support a candidate attached to that proposal.The poll showed Harris with an overall five-percentage-point lead over Trump nationally, though the US presidential race will largely be decided in about seven battleground states where the race is tighter.The poll details Trump’s strengths on a key issue, the US economy.“This is what’s keeping the election so close,” said Karlyn Bowman, a polling expert at the conservative American Enterprise Institute.Bowman said that Trump’s advantage flows from a perception the economy did well during his 2017-2021 administration, and from his success convincing voters US economic problems stemmed from underhanded economic competition from other countries, notably China.The poll found one in three Democrats said they were more likely to vote for a candidate backing higher tariffs and steep levies on Chinese goods, compared with two-thirds who said they were less likely to do so. Independent voters mirrored the wider electorate.Until the coronavirus (Covid-19) pandemic ravaged the global economy in 2020, the US economy by many measures performed well during the Trump administration, boosted by tax cuts for consumers.Unemployment was at its lowest in decades, although the national debt was rising and would explode during the pandemic.This year, Trump has promised an array of tax cuts on the campaign trail, including ending income tax on tipped income – a proposal Harris also supports.On Thursday, he vowed to end taxes on overtime pay.Seventy per cent of registered voters supported the idea of exempting tips from taxes.Trump called himself a “tariff man” during his presidency as he slapped levies on Chinese imports.Economists are wary of the idea, including at Wall Street bank Goldman Sachs, which estimates Trump’s tariffs and other policies would slow the economy.Harris mentioned Goldman Sachs’s assessment in Tuesday’s presidential debate and has noted that many independent economists believe Trump’s policies would add to the national debt.However, the poll found that 37% of US voters see Trump as more likely to focus on reducing the debt, compared with 30% who picked Harris.Another 30% said neither would do so.The Reuters/Ipsos poll gathered responses online from 1,405 registered voters, with a margin of error of about three percentage points.

The Gulf Cooperation Council (GCC) countries have maintained financial and monetary stability in the region, said HE Governor of Qatar Central Bank (QCB) Sheikh Bandar bin Mohammed bin Saoud Al-Thani.Speaking during his participation in the first discussion session of Their Excellencies the GCC Central Bank Governors under the title 'The impact of exchange rate policy on financial and monetary stability in the GCC Countries', His Excellency noted that the fixed exchange rate policy is the most successful one for the GCC countries.At the beginning of the session during the first edition of the first annual conference on enhancing joint Gulf cooperation within the GCC Central Banks Governors Committee, hosted by the State of Qatar, His Excellency added that each country has a specific policy regarding its national currency as it forms the basis of the economy of each country, so each country has its own economic nature that determines the adopted exchange policy, noting that most GCC countries adopted a fixed exchange rate policy that has proven successful, which is reflected in the benefits achieved, and it has led to financial and monetary stability.Adopting this policy, he noted, attracted foreign capital, preserved domestic capital, mitigated fluctuations in the prices of imported materials and in inflation, and reduced the cost of major projects.Considering the many benefits achieved thanks to the current exchange rate policy and comparing them with the challenges represented by the lack of independence of monetary policy, the benefits are much greater than the challenges that can be faced, the QCB Governor stressed, adding that the economies of the region need to impart knowledge regarding construction and technology, and all of these matters require policies that contribute to enhancing financial and monetary stability and attracting capital to the countries of the region. The current exchange rate policy has contributed to attracting investments and achieving economic diversification, and fixing the exchange rate has limited currency fluctuations and the associated risks, he said.Adopting a specific exchange rate policy comes after an in-depth study of the economic structure of countries and infrastructure along with an assessment of the benefits that this policy will reap, His Excellency explained. Therefore, after reviewing all this data, it became clear that the fixed exchange rate policy is the most successful one for the Gulf countries, he said, stressing that adopting another exchange rate policy requires a change in the economic structure which takes years and decades and does not happen overnight, noting the International Monetary Fund's praise for the success of the current exchange rate policy.HE Sheikh Bandar bin Mohammed bin Saoud Al-Thani also touched on the GCC countries' success in maintaining a moderate inflation, and that the countries of the world witnessed, over the past two years, an increase in interest rates, reaching 9 and 10 percent, while in the GCC countries they were around 5 and 6 percent. He stressed the effectiveness of the monetary policy followed in reducing inflation levels.Governor of the Saudi Central Bank Ayman Al-Sayari said monetary policy is one of the important economic policies that aim to maintain monetary stability and its target depends on the economic structure and its characteristics.His Excellency explained that energy exports and their derivatives represent approximately 70 percent of the commodity exports of the GCC countries as these goods are priced in addition to imports in US dollars, noting that statistics indicate that the majority of transactions in global trade are settled in US dollars and that is why fixing the exchange rate contributes to reducing currency fluctuations and thus reducing imported inflationary pressures.He also pointed out the role played by the fixed exchange rate policy and monetary stability in supporting economic diversification through their contribution to supporting the ability to plan financially and formulate long-term economic policies, which supports making appropriate investment decisions and increases the attractiveness of the economy to foreign investment, in addition to supporting the economic sectors in the GCC countries that depend on importing intermediate and capital goods, which are important inputs in the production process of the economy.Maintaining monetary stability over the past decades has enhanced the credibility of GCC central banks, and this was reflected in the ability to maintain low interest rate margins compared to many other emerging markets, His Excellency said, stressing that GCC central banks have proven their success during the Covid-19 pandemic in maintaining monetary and financial stability and supporting the private sector's ability to obtain credit, which contributed to supporting the national economy during the pandemic.His Excellency praised the growth of the region's economy between 2000 and 2023 as the average GDP of the GCC countries grew by about 4 percent compared to that of the economies of developed countries which recorded a growth of 1.8 percent for the same period, while maintaining stable inflation rates in the GCC countries at around 2 percent.He also pointed to the average growth of non-oil activities in the past two years by about 5 percent in the Kingdom and bank credit by about 11 percent, while maintaining stable inflation levelsThe Governor of the Saudi Central Bank stressed that monetary stability is the most important goal of the central bank and its achievement has contributed to reducing inflationary pressures and supporting economic growth.In turn, Executive President of the Central Bank of Oman Tahir Salim Al Amri said that exchange rates vary, with pegging to a specific currency being for purely economic reasons, noting the GCC economies diverse gains.His Excellency praised the regions economies describing them as being among the largest and most significant in the global economy, which necessitates finding an appropriate exchange rate to achieve the goals and objectives of the regions countries.The Executive President of the Central Bank of Oman added that historically, a fixed exchange rate has proven beneficial and effective for the regions economy, as it provides a very favorable environment for attracting investments, with the integration of GCC countries fiscal and monetary policies ensuring stability.His Excellency continued by saying that having a fiscal policy that maintains the prices of essential goods and services without maintaining exchange rate stability (monetary policy) produces very little impact, therefore, integration is among important policies.HE Al Amri also said that while the world is moving away from a situation dominated by inflation, the Gulf region experienced the lowest global inflation level, even compared to countries with major world currencies, which are actually suffering from high inflation. He added that a flexible exchange rate could cause inflation, which would be to the detriment of the regions economy, noting that the current exchange rate policy was based on a thorough consideration.In turn, Governor of Central Bank of Bahrain Khalid Ebrahim Humaidan said that fixing the exchange rate has many benefits, the most prominent of which is achieving higher growth rates and recording lower inflation rates, along with attracting and drawing greater investments.His Excellency added that over the past forty years, the GCC countries have recorded high growth rates compared to the rest of the world, with the Gulf economy growing at a faster pace by approximately 15 percent compared to other countries.The Governor of Central Bank of Bahrain added that the average inflation rate in the region is around 2 percent, whereas the global average stands at 5.1 percent.His Excellency pointed out that the region has attracted high levels of direct foreign investment, with an annual growth rate of 5.5 percent in foreign investments, compared to a 3.1 percent growth rate in other parts of the world