Latest news with #EconomicsDepartment
The Hindu
11-05-2025
- Business
- The Hindu
Experts shed light on rising importance of data during The Hindu Education Plus Career Counselling Series webinar
As a part of The Hindu Education Plus Career Counselling Series, a webinar titled 'Data-Driven Economics: A New Era' was organised in collaboration with Shiv Nadar University, Chennai. During the webinar, experts discussed the rising importance of data in shaping contemporary economic thought. According to a press release, Pushpa Trivedi, senior professor and head of the Economics Department at the School of Science and Humanities, Shiv Nadar University, Chennai, explained various forms of data and emphasised the value of integrating economics with data science in academic programmes. 'Traditionally, theory comes first, followed by analysis and conclusions. But today, with the abundance of data, sometimes theories can emerge directly from data patterns,' she said. Soumyadip Roy, associate professor and in-charge director at UNext Manipal Academy of BFSI, Bengaluru, spoke about the growing role of data in today's world. 'In the way the world is evolving, working with data is no longer optional — it is an essential skill,' he said. Mr. Roy, while speaking about the future of jobs in the BFSI sector and the influence of AI, said, 'It is a blend of multiple disciplines, but there is still a crucial need for the human element.' He also stressed that graduates must combine technical skills, domain expertise, and effective communication to stay relevant in the industry, the press release added.
Jordan Times
03-05-2025
- Business
- Jordan Times
Key growth drivers of Jordan's economy
The government's Q1 2025 report on the Economic Modernization Vision (2023–2025) shows clear progress in four main areas that support growth: investment, quality of life, making Jordan a global destination, and sustainable resources. These areas have seen real improvements in laws, infrastructure, and easier procedures. This is supported by data and completed projects. The government is now clearly working within the framework of the Economic Modernization Vision, which is Jordan's roadmap for achieving sustainable growth by focusing on key parts of the economy. In 2024, macroeconomic indicators showed stability. The economy grew by 2.5 per cent and inflation stayed low at 2.21 per cent. GDP per person reached 3,228 dinars. The budget deficit after aid remained low at 0.7 per cent of GDP. Foreign currency reserves were $22 billion in March 2025, enough to cover 8.5 months of imports. Foreign direct investment reached 1,122 million dinars. Imports totaled 1,623 million dinars, while exports were 703 million dinars. Attracting investment is a key government goal. More than 5,200 companies have registered on the investment services platform since 2023. This shows that the business environment is improving. The government is working to bring in more foreign investment and improve public services using tools like Salesforce. This helps attract investors in key sectors such as mining, chemicals, and logistics. Industry is also an important growth driver. It fits under the 'high-value industries' part of the modernization plan. In 2024, manufacturing exports reached 6.827 billion dinars. The sector adds strong value to the economy and continues to grow. The government has given financial incentives to 94 industrial companies and launched support programs for small and medium industries. This helps local companies grow and compete globally. Agriculture and food security are also key for Jordan's economy. Despite tough natural conditions, the country maintains strong reserves: 10.4 months of wheat and 8.4 months of barley. This supports stable food security. The sector is improving with projects like the National Seed Bank and planting one million trees. Loans worth 1.3 million dinars were given for land use and farming. Another 6.9 million dinars went to support livestock, helping meet local food needs. Even with regional challenges, the Economic Modernization Vision is Jordan's roadmap for balancing growth and sustainability. The steps taken in investment, industry, and agriculture are moving in the right direction. With strong strategies in place, these efforts are expected to bring steady improvements to Jordan's economy in both the short and long term. Raad Mahmoud Al-Tal is head of Economics Department – University of Jordan, [email protected]
Jordan Times
19-04-2025
- Business
- Jordan Times
How agriculture is powering Jordan's economy
The agricultural sector has recently become a key driver of growth and development in Jordan. In 2024, it led the country's overall economic growth, with a 6.9 per cent increase over the year. In the fourth quarter alone, it grew by 8.4 per cent. Growth was steady throughout the year: 5.7 per cent in the first quarter, 6.2 per cent in the second, and 6 per cent in the third. This sector is vital and has shown strong progress. It plays a major role in national security. Agriculture is connected to about 23.5 per cent of Jordan's economic activity through backward and forward linkages. About 27 per cent of its output is exported, and nearly 52 per cent of its production inputs are locally made. Agricultural exports reached about 1.526 billion dinars in 2024, up from 1.1 billion dinars in 2023. That's a 39 per cent increase (426 million dinars). The top export markets were Saudi Arabia, Kuwait, and Iraq, making up 62 per cent of total exports. So, what caused this growth? A big reason is the hard work of the Ministry of Agriculture. Their efforts follow the National Agricultural Strategy, which supports cooperatives, holds exhibitions to share knowledge, and builds strong partnerships with private companies. Skilled workers have also helped this growth. More agricultural engineers and veterinarians have been trained and hired. New factories have been built—20 in total—and the quality and amount of production have improved. The sector employs around 80,000 people, which is about 5 per cent of Jordan's workforce. Jordanians make up about 40 per cent of that number. Although the sector lost 33,000 workers over the past ten years, it is now attracting more people again and contributing more to the economy. Jordan's Economic Modernization Vision (EMV) listed agriculture and food security as key priorities. Agriculture was ranked as a high-value sector because it adds a lot to the economy. The sector covers everything from farms to factories to markets. The plan includes nine main initiatives to boost food security and promote local food products both inside and outside the country. But the sector still faces challenges. Farmland lacks enough water and resources. Agriculture uses over 50 per cent of Jordan's water, which is why using treated wastewater is being considered. Many farms are small and scattered, which lowers productivity. Also, although Jordan is near countries with high food demand, some crops are costly and low-yield, which makes it hard to compete in those markets. Continued focus on agriculture is crucial. Over the past decade, the sector has grown by 101 per cent, contributing an additional 1.5 billion dinars to the economy. Today, there is a greater recognition of its importance, particularly in ensuring food security and maintaining national stability. Raad Mahmoud Al-Tal is head of the Economics Department – University of Jordan- [email protected]
Yahoo
06-03-2025
- Automotive
- Yahoo
Expert speaks on local impact of tariffs
(COLORADO SPRINGS) — The trade war between the U.S. and its three largest trade partners continues as consumers and businesses fear for rising costs in Colorado Springs. 'If you don't make your product in America… under the Trump administration, you will pay a tariff and in some cases a rather large one,' said President Donald Trump. The President's tariffs on imported goods from Canada and Mexico went into effect on Tuesday, March 5, and they are expected to impact businesses across the country and here Colorado Springs. It's no secret that Colorado Springs is one of the fastest growing cities in the U.S., which means our region relies heavily on building materials. 'An area where I'm particularly concerned for the Pikes Peak region is building materials,' said Dr. Bill Craighead, the Head Director of the Economics Department at the University of Colorado Colorado Springs. 'Canada is a big source of lumber, so this will affect the market price of lumber, regardless of whether you're sourcing it from Canada or from the United States.' Craighead said the average consumer will pay $1,500 to $2,000 more each year. 'It will definitely affect local auto dealers, that will affect prices at the lot, if you're looking to buy a car it will affect the availability of cars and affect the auto parts, too,' he said. On Wednesday, President Trump gave a 30-day break for U.S. automakers from his new tariffs on Mexican and Canadian imports, despite previously saying the move would force companies like Ford and General Motors to bring production back to the states. 'Numerous car companies have announced that they will be building massive automobile plants in America with Honda just announcing a new plant in Indiana, one of the largest anywhere,' said President Trump. Governor Jared Polis also joined the conversation on Tuesday. 'Tariffs are a weak threat because you're basically threatening to stab yourself and say, 'look unless you do something, I'm going to stab myself,' and, you know, often the countries are going to say, 'go ahead and stab yourself,' and it's not a great game of chicken that the President's playing here,' said Governor Polis. The Governor's Office also released data from the Colorado Office of Economic Development and International Trade, which revealed that Canada and Mexico account for 38% of Colorado's imports and 34% of Colorado's exports. 'Tourism alone–200,000 people a year about–from each of those countries, come to Colorado,' said Governor Polis. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
