UAE’s $51 Billion Pledge for Turkey Is Marred by Failed Deals

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 The United Arab Emirates’ pledge to invest $51 billion in Turkey is facing challenges two years after its announcement, as shifting economic conditions in Ankara complicate deal-making. The initial commitment, intended to strengthen economic ties between the two nations, has encountered roadblocks stemming from valuation disputes and shifting investment priorities. In 2021, the UAE announced its ambitious plan to inject substantial capital into various sectors of the Turkish economy, including finance, technology, and infrastructure. The pledge was seen as a major step in restoring relations between the two countries, following years of geopolitical tensions. However, since then, Turkey's economic landscape has evolved, with a strengthened lira, rising investor confidence, and an improved trade balance making local businesses more resistant to external acquisitions and partnerships. Turkish companies, buoyed by a rebound in economic stability, have adopted a firmer stance on valua...

UAE named the social media capital of the world

 

Social  Media

With a nearly perfect score of 9.55 out of 10, the UAE is now the social media capital of the world, with almost every person in the country holding a Facebook account.

According to Proxyrack, which offers proxies and residential VPN services, the UAE has the highest percentage of people with Facebook accounts, at over 100%.

In fact, based on the data of World Population Review, the study found there are more Facebook users registered there than the population of the country.

The Emirati citizens also have an average of 8.2 social media platforms, joint with the Philippines - and the third highest in the world.

Following the almost perfect score of the UAE are Malaysia and the Philippines, with both scoring 8.75, followed by Saudi Arabia at 8.41, Singapore at 7.96, Vietnam and Brazil at 7.62, Thailand at 7.61, Indonesia at 7.5, and Hong Kong at 7.27.

The Emirates is also now the world's most connected country, with a massive score of 7.53 out of 10, according to the study. Countries like Hong Kong, Malaysia, Saudi Arabia, Singapore, Argentina, and Taiwan follow next on the list.

However, the UAE didn't grab the top spot when it comes to the best internet access. It came fourth on the list, preceded by South Korea, Hong Kong, and Denmark.

The study further revealed that netizens in the UAE spend the 13th highest number of hours on the internet each day, amounting to an average of 7 hours and 29 minutes.

Nonetheless, internet usage has skyrocketed (if exaggerated) in the UAE and globally after the coronavirus pandemic, since more and more people started working from home and a greater number of businesses chose to make deals with clients virtually for its cost-efficiency.

South Africa topped the list concerning internet usage, recording an average use of 9 hours and 38 minutes each day.

 


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