Emiratis, Israelis meet in Dubai as part of women’s forum event

A group of Emirati and Israeli women met in Dubai for the first time as part of the Gulf-Israel Women’s Forum. (Supplied)
Short Url
Updated 09 October 2020

Emiratis, Israelis meet in Dubai as part of women’s forum event

  • The UAE-Israel Business Council, which was founded in June, has grown to almost 2,000 members since the announcement in August of the UAE and Israel normalizing relations

LONDON: A group of Emirati and Israeli women met in Dubai for the first time, in a meeting held as part of the Gulf-Israel Women’s Forum.

The group, co-founded by Jerusalem’s Deputy Mayor Fleur Hassan-Nahoum and the co-founder of the Jewish Women’s Business Network Justine Zwerling, is a division of the newly formed UAE-Israel Business Council.

“I believe that women are natural peace builders. We created the Gulf-Israel Women’s Forum in order to facilitate people-to-people, grassroots peace building,” Hassan-Nahoum said.

“It was an honor to host this very memorable and historic meeting of Israeli and Emirati women in Dubai, creating bonds and making a better future for our children.”

The UAE-Israel Business Council, which was founded in June, has grown to almost 2,000 members since the announcement in August of the UAE and Israel normalizing relations, according to Hassan-Nahoum.

To date there are 250 Israeli companies trading with the UAE, and the council aims to help increase that number over the next couple of years.

In September, the energy ministers and tourism officials from the UAE and Israel discussed possible cooperation, travel opportunities and investment openings.

Also in September, Dubai’s Al-Habtoor Group announced plans to open a representative office in Israel, and the Abu Dhabi Investment Office said it will open its first office outside the UAE in the city of Tel Aviv.


Researchers say new model shows Turkish inflation well above official tally

Updated 22 October 2020

Researchers say new model shows Turkish inflation well above official tally

  • Since last year, opposition lawmakers have raised questions about the accuracy of official inflation data
  • Year-on-year inflation was 11.75% according to the official tally announced earlier this month

ISTANBUL: Turkish monthly inflation was more than triple the official rate in September, according to a new model developed by a group of academics and researchers based on more frequent data than the government statistics office.
Veysel Ulusoy, a professor at an Istanbul-based university and head of the independent Inflation Research Group (ENAG), said the model collects “several times more” price data than the official Turkish Statistical Institute (TUIK) tally, and is meant to complement it.
Since last year, opposition lawmakers have raised questions about the accuracy of official inflation data, arguing that the published rate was lower than the market realities.
According to ENAG’s first published finding, consumer prices in September rose 3.61% from the previous month, compared to TUIK’s calculation of 0.97% increase.
Year-on-year inflation was 11.75% according to the official tally announced earlier this month. ENAG has not yet published a year-on-year figure.
TUIK was not immediately available for comment.
“We observed price differences and volatility in almost all groups in the basket,” Ulusoy said in an interview. ENAG brings together academics from multiple Turkish universities.
“TUIK collects 550,000 prices for all the basket items in a month. ENAG calculations include several times more than that, constructing a richer set of data,” Ulusoy said.
Turkish annual inflation has remained in double digits this year despite a sharp economic contraction in the second quarter due to the coronavirus pandemic. High prices and a record low lira prompted the central bank to raise interest rates last month, and it is expected to hike again on Thursday.
The ENAG model can calculate inflation as frequently as every hour, meaning it can fill gaps for researchers and investors, Ulusoy said. It weighs items in the same way as TUIK, but excludes price data from health, education spending and alcoholic drinks.
The September calculation showed that school-related items had the most price spikes including computers, tablets and mobile phones, as well as children’s’ clothing and some agricultural goods.
Ulusoy said the ENAG model showed that tablets and computer prices were up more than 30% in September from August due to school reopenings, while TUIK put these items at around 4% month-on-month.
Last year opposition parties submitted parliamentary questions to Finance Minister Berat Albayrak over claims that TUIK tweaked inflation data for political reasons, claims dismissed as groundless by the head of the institute.