World Government Summit in Dubai to Host 15 Global Forums in Late March

Mohammed Abdullah al-Gergawi, Minister of Cabinet Affairs and Chairman of the WGS Organization. (Asharq Al-Awsat)
Mohammed Abdullah al-Gergawi, Minister of Cabinet Affairs and Chairman of the WGS Organization. (Asharq Al-Awsat)
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World Government Summit in Dubai to Host 15 Global Forums in Late March

Mohammed Abdullah al-Gergawi, Minister of Cabinet Affairs and Chairman of the WGS Organization. (Asharq Al-Awsat)
Mohammed Abdullah al-Gergawi, Minister of Cabinet Affairs and Chairman of the WGS Organization. (Asharq Al-Awsat)

The World Government Summit (WGS) revealed it will host this year 15 forums to explore the most important global trends defining the next decade.

The Summit’s eighth edition, which will be held at the Expo 2020 Dubai at the Dubai Exhibition Center in late March, will bring together the world’s most prominent talents to discuss vital sectors and develop ideas and visions for a new future.

The WGS will host for the first time this year the Global Crypto Forum and the Global Metaverse Forum to discuss the most prominent global trends during the current decade.

It will also organize the first Arab Meeting for Young Leaders, the Arab Government Administration Forum, Cybersecurity in Aviation Forum, the Investopia Investment Summit, in addition to the TIME 100 Gala, and the Forbes 30 Under 30 Forum.

The WGS continues to host major forums that comprise key pillars for global communities and their future, namely: the Climate Change Forum, which focuses on the UAE hosting of the (COP28), and the Global Energy Forum, the Global Health Forum, the SDGs in Action, the Government Services Forum, the Women in Government Forum, and the Gender Balance Forum.

Mohammed Abdullah al-Gergawi, Minister of Cabinet Affairs and Chairman of the WGS Organization, said the Summit has become the largest global platform for shaping the future of governments.

His remarks were made in a speech delivered at the WGS Dialogue, which was held at the Museum of the Future in Dubai on Monday.

He said that the Summit – which will soon complete its first decade of operations – has “evolved into an incubator of innovative solutions at the decision and policymaking level, where ideas, knowledge and success stories are shared and transferred by pioneering government officials, leaders and industry experts.”

“We need to enhance the participation of young people – who make up two-thirds of the region’s population – in decision-making positions to provide a platform where their voice can be heard,” Gergawi said, noting that the Summit provides an annual platform for Arab youth to share their aspirations and future visions.

“WGS also witnessed the appointment of the UAE’s youngest minister of youth, the launch of youth councils and youth strategies, the creation of youth policies, and the launch of the Arab Youth Center to prepare a pioneering model for empowering the largest social segment in the Arab world,” he added.

Gergawi pointed out that hosting the Summit at Expo 2020 Dubai is symbolic of the UAE’s connected, forward-looking philosophy.

“Organizing WGS 2022 at Expo 2020 Dubai will make for an exceptional event,” he said.

“It will build on the achievements of this incredible expo which overcame unprecedented challenges and disruption to bring people together in the most challenging of times.”

“We are connecting the world’s greatest minds to create the future we all want,” he stressed.



Iraq Oil Output Exceeds 5 million bpd

Majnoon oil field near the Iraqi city of Basra (Reuters)
Majnoon oil field near the Iraqi city of Basra (Reuters)
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Iraq Oil Output Exceeds 5 million bpd

Majnoon oil field near the Iraqi city of Basra (Reuters)
Majnoon oil field near the Iraqi city of Basra (Reuters)

Iraq produces more than 5 million barrels of oil per day (bpd), Oil Minister Basim Mohammed told state news agency INA on Saturday.

According to Reuters, Iraq is pushing for a higher OPEC production quota as the economic fallout from the Iran war and new investment by oil majors increase pressure on Baghdad to boost output, potentially putting it at odds with the producer group.

The conflict has hit Iraq particularly hard, forcing major export cuts and depriving the state of oil revenue, which accounted for 88% of government income last year.


IMF: Any Slowdown in AI-driven Growth Would be Factor for Central Banks

IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)
IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)
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IMF: Any Slowdown in AI-driven Growth Would be Factor for Central Banks

IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)
IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)

Central bankers around the world would need to consider any slowdown in AI-driven growth as they assess steps in their fight against inflation, International Monetary Fund Managing Director Kristalina Georgieva said on Friday.

Georgieva said concerns about dependence on the AI investment boom and high valuations were impacting markets around the world.

"Things are going up and down, and this is likely to continue," she told an audience at IMF headquarters in Washington, adding that the volatility would complicate the job of central banks at a time when risks to price stability had been growing.

A steep rout in technology stocks on Thursday rippled through markets on fears that ⁠the Democrats' victory ⁠in the US midterm elections would increase regulatory scrutiny of AI and slow the data center build-out, sending investors to the safety of bonds.

The political jitters are hitting an AI trade already on shaky footing due to worry about return on massive spending on AI-related infrastructure, with the meltdown spurring margin calls and spooking retail investors and hedge ⁠funds alike.

Georgieva said the AI investment boom was lifting growth in some countries, helping to offset a negative oil-supply shock triggered by the war in the Middle East, but it was also adding to inflationary pressures and financial stability concerns.

The IMF last month flagged significant growth and financial stability risks from a potential ending of the AI investment boom, among other factors, including a prolonged Middle East war. At the time, it warned that a steep drop in AI investment could lead to a sharp fall in asset prices, ultimately cutting global GDP ⁠by 1.1% ⁠by 2028, including a 1.8% drop in US output.

Georgieva did not repeat the downside forecast on Friday, but acknowledged the recent market volatility.

"Should there be a slowdown in the AI-driven growth impulse, it would need to be factored in as central banks assess the necessary steps in the fight against stubborn inflation," she said.

Democrats are planning to unleash a flood of new legislation targeting artificial intelligence systems and data-center development when they take control of the US Congress in January, Reuters reported on Friday, citing congressional aides and advocates.

That would mark a sharp shift from the Republican-led Congress, where lawmakers largely focused on promoting AI development and declined to pass legislation restricting the technology.


World Food Prices Dip in October, but Remain Higher Than a Year Ago

A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
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World Food Prices Dip in October, but Remain Higher Than a Year Ago

A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)

World food prices edged lower in October as weaker import demand contributed to monthly declines in cereal, dairy and meat prices, but were still nearly 6% higher than a year earlier, the United Nations' Food and Agriculture Organization said on Friday.

The FAO Food Price Index, which tracks monthly changes in international prices for a basket of food commodities, ‌averaged 133.9 points ‌in October, down from a revised ‌135.6 ⁠in September.

The index ⁠was 5.9% higher than a year earlier, but remained 16.4% below its March 2022 peak.

FAO's cereal price index fell 4.5% from September and was 12.6% lower than a year ago, as wheat and maize quotations declined. Wheat prices eased on weak import demand ⁠and improved production prospects, especially in Argentina.

"Expectations of ‌easing constraints on Black ‌Sea export flows added to the downward pressure on prices, ‌although continued disruptions to Black Sea logistics limited the decline," ‌FAO said in a statement.

Maize prices also eased after reaching a three-year high in September, pressured by the US harvest, expectations of ample supplies in South America and renewed ‌prospects of easing tensions in the Black Sea region.

Vegetable oil prices edged up 0.3%, ⁠as ⁠higher soybean and sunflower oil prices more than offset a fall in rapeseed oil prices.

Sugar prices rose 6.6%, their fourth straight monthly increase, to the highest level since December 2024, after rainfall disrupted harvesting in Brazil. They were now 28.8% above a year ago.

The dairy index fell 1.1%, as lower butter and cheese prices linked to ample supplies and subdued demand outweighed gains in milk powder.

The meat index declined 1.2%, while still slightly above its year-earlier level, as ovine and bovine meat prices fell.