Determinants that attract and discourage foreign direct investment in GCC countries: Do macroeconomic and environmental factors matter?

In general, foreign direct investments (FDIs) play a crucial role in driving a country's economic development, promoting diversification, and enhancing competitiveness. The Gulf Cooperation Council (GCC) countries, which heavily rely on the oil and gas sectors, are particularly vulnerable to fluctuations in commodity prices. However, these countries have recognized the imperative of economic diversification and have increasingly turned to inward FDIs to achieve it. By attracting capital, advanced technology, and expertise from foreign investors, FDIs enable the GCC countries to expand their economic base beyond the oil and gas sectors. This diversification not only creates employment opportunities but also fosters resilient economic growth, ultimately leading to an improvement in the living standards of the local population. This study investigates the macroeconomic and environmental factors that potentially attract foreign direct investment (FDI) inflows into the Gulf Cooperation Council (GCC) countries in the long run. Additionally, the study explores the causal relationship between these factors and FDI inflows. The panel autoregressive distributed lag (ARDL) approach to co-integration is the primary analytical technique used, utilizing long time-series data from six GCC countries, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE) during the period 1990-2019. The empirical results indicate that, in the long run, almost all independent variables significantly influence FDI in GCC countries. Variables such as GDP growth (GDPG), inflation (INFL), carbon dioxide emissions (CO2), and urbanization (URB) are found to be highly significant (p≤0.01) in their impact on FDI. Moreover, unemployment (UNEMP) also positively and significantly influences FDI in these countries in the long run. Based on the key findings, strategies aimed at reducing persistently high unemployment rates, maintaining population growth, viewing FDI as a driver for GDP growth, and continuing with infrastructure development and urbanization are expected to attract more FDI inflows into GCC countries in the long run. Additionally, fostering both long-term economic incentives and creating a conducive business infrastructure for investors are vital for attracting inward FDI into any nation, including those in the GCC. This research would benefit various stakeholders, including governments, local businesses, investors, academia, and the local society, by providing valuable knowledge and informing decision-making processes related to economic development, diversification, and investment promotion.

Environmental pollution and price dimension of renewable and nonrenewable energy, economic growth, and financial inclusion in Asia: analysis for carbon mitigation to achieve UN Agenda-13.

This study scrutinizes the impacts of oil price fluctuations, financial inclusion, and energy consumption on carbon flare-ups in 20 Asian developing nations. For empirical analysis panel data for the period from 1990 to 2020, and the CS-ARDL model is applied. Furthermore, our data confirm the existence of CD), slope parameter heterogeneity (SPH), and panel co-integration among the variables. For the stationarity of variables, this study applies a cross-sectional augmented IPS (CIPS) unit root test. The outcomes of the study depict that the price volatility of oil in the selected countries affects carbon emissions positively and significantly. This is because these nations use oil as a primary source of energy for the production of electricity, for manufacturing activities, and mainly in the transport sector. Financial inclusion helps to mitigate carbon emissions in developing Asian economies by motivating the industrial sector to adopt clean environmentally friendly production methods. Therefore, the study suggests that reducing dependency on oil and promoting renewable energies, and improving access to affordable and financial products will provide a pathway to achieve UN Agenda-13, a clean environment by mitigating carbon emissions in developing Asian nations.

Does economic policy uncertainty affect insurance premiums? Fresh empirical evidence.

Economic Policy Uncertainty (EPU) is the level of uncertainty or unpredictability arising from government policy on topics such as taxes, trade, monetary policy, and regulation. Exploring the relationship between EPU and insurance premiums can provide insights into broader economic trends and policy decisions. EPU is often driven by political and economic events, and understanding its impact on insurance premiums can provide valuable information about how policy decisions and other external factors can affect the insurance industry and the broader economy. To understand the impact of EPU, this research examines the nexus between EPU and insurance premiums across 22 countries from 1996 to 2020. By applying panel cointegration tests, and the PMG-ARDL regression, it is found a periodical (both short-term and long-term) influence of EPU on insurance premiums. Additionally, it is revealed that EPU has a longer-term consequence on insurance premiums than it does in the short run. Also, EPU has a greater role in life insurance than non-life insurance. The results are consistent when robustness techniques (FMOLS and DOLS) are applied. The findings of the article have major implications for the government, policymakers, insurance authorities, and other relevant stakeholders.

Enhancing ERP Responsiveness Through Big Data Technologies: An Empirical Investigation.

Organizations are integrating big data technologies with Enterprise Resource Planning (ERP) systems with an aim to enhance ERP responsiveness (i.e., the ability of the ERP systems to react towards the large volumes of data). Yet, organizations are struggling to manage the integration between the ERP systems and big data technologies, leading to lack of ERP responsiveness. For example, it is difficult to manage large volumes of data collected through big data technologies and to identify and transform the collected data by filtering, aggregating and inferencing through the ERP systems. Building on this motivation, this research examined the factors leading to ERP responsiveness with a focus on big data technologies. The conceptual model which was developed through a systematic literature review was tested using Structural equation modelling (SEM) performed on the survey data collected from 110 industry experts. Our results suggested 12 factors (e.g., big data management and data contextualization) and their relationships which impact on ERP responsiveness. An understanding of the factors which impact on ERP responsiveness contributes to the literature on ERP and big data management as well as offers significant practical implications for ERP and big data management practice.

Understanding the Role of Technology in Asian Economies: The Environmental Impact of Remittances and Economic Complexity.

In recent years, scholars have determined various determinants of environmental degradation using the panel and time-series studies. However, technological innovations (TI) and remittances, among the financial system's essential components, are relatively ignored. In addition, nations' economic progress and environmental performance also depend upon the nature of their economic structure. This empirical research investigates the effects of TI, remittances and economic complexity (EC) on CO2 controlling economic growth and trade openness (TR) in the selected 15 Asian nations. The study collected panel data of 15 Asian countries from 1990 to 2019 and employed the panel quantile regression and augmented mean group methods to unveil the impacts of variables on CO2 emissions. The empirical findings established that remittances are negatively linked with CO2 emissions. Similarly, EC reduces CO2 emissions in the context of Asian countries. In addition, EC and remittances Granger cause CO2 emissions. These findings indicate that remittances and EC positively contribute to environmental quality in Asian countries. Conversely, TI, economic growth, and TR intensify CO2 emissions in Asian countries. Finally, the study recommended policies to enhance remittances and EC in Asian countries to curb environmental degradation.

Performance evaluation and financial viability analysis of grid associated 10 MWP solar photovoltaic power plant at UP India.

The main aim of this simulation work is to assess the financial possibility analysis of 10 MWP grid-associated solar photovoltaic (PV) power plants in seven cities i.e. Lucknow, Agra, Meerut, Gorakhpur, Kanpur, Allahabad, and Varanasi of Uttar Pradesh (UP) state of India with the RETScreen Software. The presented research work demonstrates the method of selection of profitable locations for solar PV power plants according to financial viability indicators. It is found that Allahabad city is the most profitable site with values of 16,686 MWh of electricity exported to the grid (EEG), US$20,896.30/year of electricity export revenue (EER), 9.4 years of simple payback period (SPP), 7.7 years of equity payback period (EPP), 19545.9 tCO2/year of GHG emission reduction, US$3492.82/year of the annual life cycle savings (ALCS), 1.5 benefit-cost (B-C) ratio, US$27394.59 of net present value (NPV), 16.5% internal rate of return on equity (IRR-equity), 12.3% modified internal rate of return on equity (MIRR-equity), 5.4% internal rate of return on assets (IRR-assets), and 7% modified internal rate of return on assets (MIRR-assets). The second most profitable site is found in Gorakhpur city and Varanasi city is found the least profitable site. The other two cities, Agra and Kanpur are not found suitable because of the negative values of NPV and ALCS.

The IFRS adoption, accounting quality, and banking performance: An evaluation of susceptibilities and financial stability in developing economies.

International Financial Reporting Standards (IFRS) 's adoption increased attention to International Accounting Standard Regulations worldwide. It has opened the door for empirical analysis having different perceptions of mandatory IFRS adoption. This paper's main objective is to examine the impact of accounting quality and IFRS adoption on Pakistan's banking sector efficiency. We have employed the Malmquist productivity index, Roychowdhury's Earnings Management, and modified learner index to conduct the empirical analysis. The results mean how much banking sector efficiency is affected by accounting quality and IFRS adoption. The results demonstrate that the banking sector efficiency significantly increases through accounting quality and IFRS. Furthermore, it can be seen that the foreign banks' efficiency in Pakistan is less than other banks compared to public or private banks. Additionally, more earnings timeliness has been noted in large banks than medium and small banks in Pakistan. Preferably, the practice of quality accounting relies on disclosed information through financial statements. In contrast, the organizations may evade the losses once the information quality is precise and appropriate. The study provides valuable information to managers and other stakeholders.

COVID-19 Vaccine Acceptance among Social Media Users: A Content Analysis, Multi-Continent Study.

Vaccine hesitancy (VH) is defined as a delayed in acceptance or refusal of vaccines despite availability of vaccination services. This multinational study examined user interaction with social media about COVID-19 vaccination. The study analyzed social media comments in 24 countries from five continents. In total, 5856 responses were analyzed; 83.5% of comments were from Facebook, while 16.5% were from Twitter. In Facebook, the overall vaccine acceptance was 40.3%; the lowest acceptance rates were evident in Jordan (8.5%), Oman (15.0%), Senegal (20.0%) and Morocco (20.7%) and the continental acceptance rate was the lowest in North America 22.6%. In Twitter, the overall acceptance rate was (41.5%); the lowest acceptance rate was found in Oman (14.3%), followed by USA (20.5%), and UK (23.3%) and the continental acceptance rate was the lowest in North America (20.5%), and Europe (29.7%). The differences in vaccine acceptance across countries and continents in Facebook and Twitter were statistically significant. Regarding the tone of the comments, in Facebook, countries that had the highest number of serious tone comments were Sweden (90.9%), USA (61.3%), and Thailand (58.8%). At continent level, serious comments were the highest in Asia (58.4%), followed by Africa (46.2%) and South America (46.2%). In Twitter, the highest serious tone was reported in Egypt (72.2%) while at continental level, the highest proportion of serious comments was observed in Asia (59.7%), followed by Europe (46.5%). The differences in tone across countries and continents in Facebook and Twitter and were statistically significant. There was a significant association between the tone and the position of comments. We concluded that the overall vaccine acceptance in social media was relatively low and varied across the studied countries and continents. Consequently, more in-depth studies are required to address causes of such VH and combat infodemics.

Impact of COVID-19 on the Quality of Life of Households in Saudi Arabia.

The COVID-19 pandemic has affected every stratum of the population and all categories of households to varying degrees. The impact of the pandemic on the quality of life (QoL) of populations is complex and can vary by region, socio-economic status, and other demographic factors. The main purpose of this study was to empirically examine the effects of pandemic trauma on the QoL of households in Saudi Arabia. Primary data from 506 households in different regions were collected through online surveys and estimated using descriptive statistics, analysis of variance (ANOVA), statistical regression techniques, and ordered Probit analysis. It was found that the QoL of Saudi households dropped significantly due to the COVID-19 crisis. Demographically, there were significant differences in the impact of COVID-19 on QoL. Low-income households, large households, male-led households, urban households, households living in the central and western regions, households with head unemployment or low educational attainment, and households with elderly head reported greater QoL declines. The findings emphasize the significance of generating on-the-ground survey data to track the well-being of households during the crisis to accumulate the information required to construct evidence-based policy responses. This study makes a significant contribution to the literature on the impact of COVID-19 by providing additional evidence of the pandemic's impact at the household level. The study paints a grim picture of the effects of COVID-19, as it was carried out at a time when the coronavirus was spreading, millions were dying or fighting it in healthcare centers, and lockdowns were imposed throughout the world.

Resolution of Idiopathic Epidural Lipomatosis after Bariatric Surgery: Case Report and Literature Review.

Spinal epidural lipomatosis (SEL) is traditionally a rare disorder defined as an abnormal accumulation of unencapsulated epidural fat. SEL can be classified into idiopathic and secondary. We report a 46-year-old obese male with idiopathic epidural lipomatosis with a clinical picture of bilateral L5 and S1 radiculopathy, with an L5 and S1 distribution. Magnetic resonance imaging (MRI) showed epidural lipomatosis at L4, L5, and S1. After 2-year of sleeve gastrectomy, his bilateral sciatic radiculopathy disappeared, and updated MRI showed complete resolution of epidural lipomatosis. We present a case of an unusual epidural lipomatosis, resolved completely by bariatric surgery. This case report set out the effect of metabolic surgery on the local and systemic metabolic process.

The effects of carbon emissions, rainfall, temperature, inflation, population, and unemployment on economic growth in Saudi Arabia: An ARDL investigation.

OBJECTIVE: While macroeconomic and environmental events affect the overall economic performance of nations, there has not been much research on the effects of important macroeconomic and environmental variables and how these can influence progress. Saudi Arabia's economy relies heavily on its vast reserves of petroleum, natural gas, iron ore, gold, and copper, but its economic growth trajectory has been uneven since the 1990s. This study examines the effects of carbon emissions, rainfall, temperature, inflation, population, and unemployment on economic growth in Saudi Arabia. METHODS: Annual time series dataset covering the period 1990-2019 has been extracted from the World Bank and General Authority of Meteorology and Environmental Protection, Saudi Arabia. The Autoregressive Distributed Lag (ARDL) approach to cointegration has served to investigate the long-run relationships among the variables. Several time-series diagnostic tests have been conducted on the long-term ARDL model to check its robustness. RESULTS: Saudi Arabia can still achieve higher economic growth without effectively addressing its unemployment problem as both the variables are found to be highly significantly but positively cointegrated in the long-run ARDL model. While the variable of carbon emissions demonstrated a negative effect on the nation's economic growth, the variables of rainfall and temperate were to some extent cointegrated into the nation's economic growth in negative and positive ways, respectively. Like most other nations the short-run effects of inflation and population on economic growth do vary, but their long-term effects on the same are found to be positive. CONCLUSIONS: Saudi Arabia can achieve both higher economic growth and lower carbon emissions simultaneously even without effectively addressing the unemployment problem. The nation should utilize modern scientific technologies to annual rainfall losses and to reduce annual temperature in some parts of the country in order to achieve higher economic growth.

Analysis of CO2 emissions and energy consumption by sources in MENA countries: evidence from quantile regressions.

The development of economies and energy usage can significantly impact the carbon dioxide (CO2) emissions in the Middle East and North Africa (MENA) countries. Therefore, this study aims to analyze the factors that determine CO2 emissions in MENA under the environmental Kuznets curve (EKC) framework by applying novel quantile techniques on data for CO2 emissions, real income, renewable and non-renewable energy consumption, and urbanization over the period from 1990 to 2015. The results from the estimations suggest that renewable energy consumption significantly reduces the level of emissions; furthermore, its impact increases with higher quantiles. In addition, non-renewable energy consumption increases CO2 emissions, while its magnitude decreases with higher quantiles. The empirical results also confirm the validity of EKC hypothesis for the panel of MENA economies. Policymakers in the region should implement policies and regulations to promote the adoption and use of renewable energy to mitigate carbon emissions.

Managerial policy and economic analysis of wind-generated renewable hydrogen for light-duty vehicles: Green solution of energy crises.

The unconventional energy sources like hydrogen energy have tremendous potential of filling the gap between economic growth and clean energy consumption. A little intention has been made in this regard in the developing economies like Pakistan. This study develops a fusibility analysis to highlight the potential of hydrogen energy source in Pakistan. For this purpose, this study used a hybrid mathematical model that combines the range of wind speed with the log law to push wind power's potential to generate wind hydrogen in Pakistan. The study results indicate that Pakistan has an excellent source to generate hydrogen energy through wind power stations. According to the outcomes, Nooriabad can produce 303.66 million RE/kWh per year through wind energy sources. According to the results, the rest of the seven wind generation sites also can generate enough hydrogen energy. This study also concluded that hydrogen energy has enough sources to meet the demand for light-duty vehicles in Pakistan.

The dynamic role of energy security, energy equity and environmental sustainability in the dilemma of emission reduction and economic growth.

This study examines the relationship between energy security, energy equity, and environmental sustainability from the perspective of economic growth and CO2 emissions. For this purpose, this study utilizes the energy trilemma index (ETI) 2018 of the World Energy Council (WEC) to measure, evaluate and assess the energy efficiency of the top ten best-performing countries around the world. This study formulates an interval decision matrix to apply Principal Components Analysis (PCA) by reducing a large set into a small set of underlying variables with comprehensive information. Finally, this study uses the Fuzzy-TOPSIS method to determine the comprehensive ranks of all countries. This study shows that Denmark holds overall first rank in energy efficiency with a score of one in energy security, eleven in energy equity, and seventeen in environmental sustainability. In contrast, Germany has dominated all top ten performers by energy and environmental progress, which cannot be shirker within the UK's social progress concept. Thus, with ceteris paribus, a higher energy price will indicate a higher degree of scarcity of energy sources, encouraging working for cheaper and renewable alternatives and ultimately influencing the energy supply side. Carbon valuation can reduce greenhouse emissions by paying the extra dollar to the enterprise for less emission. It will lead to changing energy consumption structures and make it a cleaner choice for profit maximization.

Safety measures for COVID-19: a review of surgical preparedness at four major medical centres in Saudi Arabia.

In view of the worldwide coronavirus disease 2019 (COVID-19) pandemic, hospitals need contingency planning. This planning should include preparation for an unexpected patient surge. This measure is evolving concomitantly with the implementation of the needed infection control rules. Here, we present our experience in contingency planning at four large tertiary hospitals in Saudi Arabia during this global pandemic, with a focus on dealing with COVID-19 patients who need to undergo surgery. The planning covers response measures required in the operating room and supporting units, including the administrative department, intensive care unit, and different sections of the surgical department. Furthermore, it covers the role of education and simulation in preparing health care providers and ensuring smooth workflow between all sections. We additionally discuss the guidelines and policies implemented in different surgical specialties. These measures are necessary to prevent the transmission of COVID-19 within healthcare facilities. Throughout the COVID-19 pandemic, the healthcare system should develop a comprehensive pandemic plan and set guidelines addressing the management of urgent and malignant cases. The guidelines should be in concordance with internal guidelines.

Percutaneous Nephrolithotomy in a Patient with Cross-Fused Renal Ectopia.

Background: Cross-fused renal ectopia (CFRE) is a rare congenital anomaly in which an ectopic kidney crosses the midline and merges with the orthotopic kidney on the other side. Patients with CFRE could present with urolithiasis. The abnormal anatomy and the lack of consensus to treat urolithiasis in these cases present challenges to treatment. In this study, we present a case of renal stone in a CFRE managed through percutaneous nephrolithotomy (PCNL). Case Presentation: We present a case of a 59-year-old man with right flank pain. Radiologic studies showed a 2 cm renal pelvis stone in a CFRE. The patient was effectively managed with PCNL. Conclusion: With proper radiologic study and thorough understanding of the aberrant anatomy, PCNL represents a safe and effective treatment for patients with renal stones in CFRE with high stone-free rate and low mortality.

The long-run and short-run influence of environmental pollution, energy consumption, and economic activities on health quality in emerging countries.

This study investigates the effect of energy utilization, greenhouses gasses emissions, and economic activities on health risks such as mortality rate and incidence of respiratory diseases in emerging Asian economies. The study analyzes a panel data from 1995 to 2018 to examine the long-run and short-run influence of environmental pollution on health issues. The empirical findings highlight that greenhouse gasses emissions, fossil fuel consumption, and natural resources depletion in the region are key factors to increasing health risks in the long-run period, while the use of clean energy and improvement in per capita economic growth is helping to improve the health status of the households. In a short period, greenhouse gasses emission is the only significant factor responsible for the high mortality rate and occurrence of respiratory diseases in the emerging economies of Asia. According to the results, there is a need for government intervention programs to rescue the region from the negative effects of environmental pollution and the utilization of nonrenewable energy. In emerging Asian countries, the combustion of fossil fuels, environmental pollution, and limited access to clean energy are such factors responsible for high mortality rate and stimulating incidence of respiratory diseases in the individuals. The study suggests that alternative green energy can prove helpful to control greenhouse gasses emissions and to control health issues by improving environmental quality. The study further suggests that the use of clean energy from water, wind, and sunlight may prove helpful to meet the energy requirement at the domestic level and improve the health status of the individuals by reducing the incidence of respiratory diseases in emerging countries of Asia.

Trends of percutaneous nephrolithotomy in Saudi Arabia.

OBJECTIVE: The objective of the study was to present the current practice patterns on percutaneous nephrolithotomy (PCNL) in Saudi Arabia and to compare it with the international patterns and to observe the adherence to the guidelines. MATERIALS AND METHODS: A survey consisting of 28 questions was sent to urologists working in Saudi Arabia using a Google Forms questionnaire. The questioner covered most aspects of performing PCNL starting from preparing the patient till discharging him. RESULTS: One hundred and thirty-two replied to the survey. Almost 70.2% performed PCNL and 59.1% of them learned PCNL during residency. The access was obtained by the urologists in 80.3% from the participants, 68.2% of them uses fluoroscopic guidance for the puncture. The majority (80.3%) perform PCNL in the prone position. Nearly 69.7% use the balloon dilators and 16.7% use the Amplatz dilators. For kidney drainage, 60.6% place a nephrostomy tube and a double-J stent (DJ stent) together and 4.5% perform tubeless PCNL (DJ stent only). About 45.5% stated that the introduction of flexible ureteroscopy decreased the rate of doing PCNL for >20%. CONCLUSIONS: Data obtained from a group of urologists in Saudi Arabia showed that the majority of urologists practicing in Saudi Arabia perform PCNL. They usually learn PCNL during residency. We observe that the majority of urologists attach to the original patterns in PCNL, i.e., they predominantly prefer the prone position and use fluoroscopy to gain the PCNL access. Furthermore, the data showed that new trends in PCNL did not gain a lot of momentum as few practices miniaturized PCNL and tubeless PCNL. The majority use balloon dilators and combined ultrasonic/pneumatic lithotripters. The complication rate encountered by the participants is concomitance with the published international figures. The introduction of flexible ureteroscopy highly decreased the rate of doing PCNL for most urologists.