Tuesday, October 25, 2022

From Slate: New Hindu The Right Honourable Rishi Sunak MP Prime Minister of the United Kingdom Assuming office 25 October 2022

PLEASE Note: As many as 1.5 million people of Indian descent live in England and Wales making them the largest ethnic group outside of white Britons.

Nitish Pathway writes, "There couldn’t have been a more fitting moment for the ascendance of the United Kingdom’s first Indian prime minister, who will also be his country’s first PM of color, the first Hindu to lead its government, and the youngest person to have the role in 200 years. 

On Monday, when the 42-year-old, 5-foot-7 Rishi Sunak was selected by Conservatives to lead their party—and therefore the former British empire—it was also the first day of Diwali. It was only weeks after the death of Queen Elizabeth II

And 2022 marks  the 75th anniversary of Indian independence from Britain. 



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Why Indians Everywhere Feel So Weird About Rishi Sunak

He’s an inspiration. He’s “posh and rich and just like the rest of Westminster.” He’s “kinda hot.”

"The diaspora has much to consider in this desi power broker’s rapid ascent in British politics—helped, in part, by years of turmoil on Downing Street and within the Tories’ ranks. The Southampton-born son of Punjabi medical workers who emigrated from East Africa, Sunak mostly carries a typical Tory pedigree: a boarding-school education, an Oxford degree, and multiple family connections to wealth. Before his election to the House of Commons in 2015, he worked for various international finance firms and married his Stanford Business School classmate Akshata Murthy—the daughter of legendary Indian billionaire N.K. Narayana Murthy, who co-founded the tech behemoth Infosys in the 1980s. Sunak’s financial career and his wife’s fortune made them one of Britain’s richest couples by the time he became an MP; Murthy’s assets, including a chunk of her father’s company, made her “richer than the queen,” according to the Guardian...

✓ It’d be a strange political origin in any context, but Sunak’s is further magnified by his nationality and religion. British Indians, especially its Hindus, have historically leaned toward the Labour Party, given the Conservatives’ history of blatant racism. But, as in the United States, more British Hindus of South Asian origin have drifted toward the center-right in recent years. Various factors have contributed to this: Hindu nationalism has expanded its global presence, abetted in part by app-fueled misinformation; more privileged Indian immigrants increasingly support “pro-business” politicians; small-c conservative politicians in Western countries are often perceived as “friendly toward India”—i.e., toward the subcontinent’s right-wing government. Indeed, some of Britain’s most globally prominent politicians of Indian descent have risen under Tory cabinets: Alok Sharma, who led last year’s United Nations climate conference; the scandal-plagued Thatcher superfan Priti Patel, a member of both the May and Johnson governments; and Suella Braverman, a Truss Cabinet appointee who was forced to resign just last week for mishandling documents (and after making comments about Indian immigrants that almost scuttled a U.K.-India trade deal).

So, in the midst of all this, just how are Indians looking at incoming PM Rishi Sunak? Well, all the WhatsApp forwards that fizzled when Truss beat him for the big job are flurrying anew, as Indians incorporate Sunak’s “kinda hot” visage into Diwali wishes to their families.

✓...But many responses across the diaspora have focused on Sunak’s ethnicity and Hindu faith, which are highly meaningful on a symbolic level...At least superficially, Sunak represents a major advance in a country that brutalized Indians for centuries. One Delhi businessman told ABC News this was “a moment of pride for India”: that “the country which ruled us for many years” is now anointing a prime minister of Indian descent.

✓ ...Sunak is also a proud Hindu who took his MP oath of office on a copy of the Bhagvad Gita, an essential text of Hinduism, and used his social media presence to share photos of himself practicing his faith. This is especially significant in light of the fact that just four years ago, a Conservative politician said that Hindu and Muslim faith-based celebrations had transformed Britain into a “crime-ridden cesspool.” It may be that Sunak’s new position as party leader will help marginalize sentiments like this within his party. But he’s also been quickly embraced by Hindu nationalists, including from India’s ruling party, who hope his selection augurs well for more fundamentalist forms of Hinduism. Sunak does not appear to have solid ties to Hindu nationalist organizations. But it seems unlikely he’d confront India over its Hindutva agenda anytime soon.

At any rate, Sunak’s honeymoon period as a paragon of British multiculturalism will likely be brief. He’s inheriting a Britain suffering from both economic and energy crises, and as a result his party’s approval rating has sunk to the bottom of the Thames. And to the dismay of many Indians in the U.K. and elsewhere, the Tories are still the party of austerityclimate denialtransphobia, crackdowns on citizenship eligibility, and—yes—racism. Sunak has sometimes bucked the party line on these issues, and at least has far better records on climate and the economy than Truss (which really isn’t saying much). But, as evidenced by this summer’s Conservative Party contest, he’s not likely to halt the Tories’ ever-rightward drift. Meanwhile, the majority of Indian Britons still back Labour, and Britain’s minority artists and activists, increasingly surveilled and demonized under Conservative administrations, probably won’t get relief or empathy from their first PM of color. Sunak has benefited a lot from good timing, savvy image-making, and relative newness to the global stage—not to mention an immense personal fortune. So he’s getting quite a bit of love this week. Soon enough, we’ll see how the auntie WhatsApps really feel."

Monday, October 24, 2022

RUNNING AFOUL HERE IN MESA: YOUTH SPORTS COMPLEX HUSTLE

 

Stephen Griffin, a whistleblower in Rhode Island who is a former executive and investor in a failed youth sports company in Boston, has been predicting trouble for Bell Bank Park since September.

✓ Griffin, an accountant for major firms before becoming an investor, doesn’t think the Mesa project is capable of generating the revenue needed to cover its current obligations.

He said the revenue potential and economic benefits of destination sports facilities like Bell Bank Park have been over-hyped to communities across the country.

✓ That’s also been true in the East Valley, where Mesa and Queen Creek officials have been especially enthusiastic about the park and its future potential as a magnet for visitors to their municipalities. Although some Gilbert officials were concerned about the park’s impact on the town’s Cactus Park sports venue, they too took a broader favorable view of its tourist potential.

✓ . . .Griffin said he is providing information to the Securities and Exchange Commission about Legacy Cares. He shared an email exchange with the Tribune showing communication with Rebecca Olsen, deputy chief of the SEC’s Public Finance Abuse Unit. . .

Whatever the outcome of Legacy Cares’ default and upcoming bondholders’ meeting, a statement Griffin posted in early September to kick off his whistleblowing campaign is resonating today.


“Whoever said municipal bonds are boring has never been to Mesa, Arizona. Stay tuned – this story is incredible,” he wrote."


 Why people commit fraud and continue down the path of fraud: “I think very few people wake up and decide that today is the day I’m going to misrepresent financial statements or book an arbitrary general journal entry to record revenue. That’s inappropriate. I think it sneaks up on somebody typically, and they start making smaller, inappropriate decisions. And then it’s hard to dig out of those decisions. And then they find themselves at a really significant inflection point, which is, do I raise my hand and acknowledge that this business is not performing the way I’ve been reporting to my board or my stakeholders and bite the bullet and deal with the consequences at that momentO r do I continue to perpetrate?” 

Go to >

sportlifestylenetwork.com

Stephen Griffin Front Row Seat S1E34 - Sport Lifestyle Network

6 - 8 minutes

In this episode of the SLN Podcast, John Peters is joined by Stephen Griffin, someone who’s never been afraid of the numbers. Stephen is a father, husband and worked his way up the corporate ladder as a trained accountant. Stephen eventually found himself helping private equity firms as a forensic accountant of sorts and would go on to work as a board member while helping diligence investment opportunities before ultimately becoming a private investor himself. Stephen later invested in Legacy Global Sports, one of the largest youth sports operators at the time. Legacy, who reportedly generated over $1MM / week in revenues, provided elite programming and events in youth soccer, hockey, lacrosse, and more. Today, Legacy is bankrupt and still under an ongoing criminal investigation by the DOJ. John spoke to Stephen about what went wrong...


✓ REPORT 

www.themesatribune.com

Default threatens owners’ hold on Bell Bank Park

Scott Shumaker, Tribune Staff Writer
7 - 9 minutes

"The organization that built the $280 million, 320-acre youth and amateur sports complex known as Bell Bank Park in southeast Mesa is in default of its loan that covered the project. . ."


 


THE BACK STORY

www.golocalprov.com

Providence Author Unveils Corporate Greed and Broken Business Ethics in New Book - GoLocalProv

Josh Fenton
3 - 4 minutes

Thursday, November 12, 2020

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An inside look at chaotic business in 2020

The new book from Providence-based Stephen Griffin is half John Grisham-esque thriller, and half Harvard Business School case study. And, that is a compliment.

Griffin is the most unusual author, but he is the perfect guide that unveils the inner workings of private equity, corporate greed and failed business ethics in 2020.

The book titled, Front Row Seat - Greed and Corruption in a Youth Sports Company is a fast-paced read.


> FROM MESAZONA ARCHIVE

05 February 2022

MESANOW: Nation's Largest $280-Million Multi-Purpose Sports-and-Entertainment Complex

From the City of Mesa's non-profit newsroom

Bell Bank Park Officially Opens as Nation's Largest Multi-Venue Sports and Entertainment Complex

February 4, 2022 at 12:54 pm
WHERE: Bell Bank Park, 1 Legacy Drive, Mesa, AZ 85212
WHAT: Representatives from Legacy Cares, Legacy Sports USA, Bell Bank and Oak View Group Facilities, along with friends, family and supporters, gathered Feb. 4 for a special ribbon cutting ceremony to signal the official grand opening of Bell Bank Park, the new $280 million multi-purpose sports and entertainment complex in Mesa.

Bell Bank Park, fulling the mission of Legacy Cares, opened in January of 2022 to host a number of sports teams, events, and competitions throughout the entire month, but this grand opening and ribbon cutting signifies the official opening of the entire sports and entertainment complex.

ABOUT BELL BANK PARK
Bell Bank Park, a 320-acre world class family sports and entertainment complex, fulfills the mission of Legacy Cares.
The one-of-a-kind complex features a 5,000 seat Outdoor Stadium, 2,800 seat Indoor Arena, (35) Soccer/Lacrosse/Football Fields, (57) Indoor Volleyball Courts, (8) Baseball and Softball fields, (20) Basketball Courts, (41) Pickleball Courts, (12) Beach Volleyball Courts, Obstacle Course Racing Park, (22) Futsal Courts, Gymnastics Center, Dance Studio, Cheer Center, Sports Performance Center, Family Fitness Center, Wellness & Fitness Center, esports Center, Kids Play Center, two zip lines, 2.7 acre Tixr Yard for concerts and events, The G.O.A.T Sports Bar and Restaurant, and so much more. With numerous playing fields, Bell Bank Park powered by Legacy Sports USA serves as a major hub for professional, club and recreation competition at various levels of expertise and proficiency. The Park expands beyond sports. The team at Bell Bank Park will create festivals, signature experiences and live concerts that feature national touring acts. The Park will create a thriving entertainment destination in Mesa and the Greater Phoenix region.

✓ ABOUT OAKVIEW GROUP (OVG)
Oak View Group (OVG) is a global sports and entertainment company founded by Tim Leiweke and Irving Azoff in 2015. OVG is focused on being a positive disruption to business as usual in the sports and live entertainment industry and currently has eight divisions across four global offices (Los Angeles, New York, London, and Philadelphia). 
✓ In addition, OVG is leading the redevelopment and operations of five other new sports and entertainment arena projects, including the Climate Pledge Arena, home to the National Hockey League's newest franchise, the Seattle Kraken, the UBS Arena in Belmont Park, NY, the new home of the NHL's New York Islanders, Co-Op Live in Manchester, England, Enmarket Arena in Savannah, GA, and the Coachella Valley Arena in Coachella Valley, CA, the home of the newest AHL franchise. OVG Global Partnerships is also responsible for securing the naming rights for these projects, and the 2021 winner of the SBJ Sports Awards for best in Sales, Consulting, and Client Service.

✓ ABOUT LEGACY SPORTS USA
Legacy Sports USA is the organization behind Bell Bank Park, initially the vision of Randy J. Miller, Chairman of Legacy Sports USA, Chad J. Miller, CEO of Legacy Sports USA, and Olympic gold medalist Dan O'Brien, Director of Performance Training at Bell Bank Park. Legacy Sports USA is dedicated to hosting premiere tournament events for youth sports and offering opportunities for athletes of all ages and at all levels to develop skills and enjoy training and competition.
Bell Bank Park also includes outdoor and indoor team athletic facilities geared to high-energy entertainment, sports venues, and a multi-purpose arena and outdoor amphitheater for live events, family shows, exhibitions, and conventions.
For more information visit www.LegacySportsUSA.com.

MESANOW: Nation's Largest $280-Million Multi-Purpose Sports-and-Entertainment Complex

From the City of Mesa's non-profit newsroom Bell Bank Park Officially Opens as Nation's Largest Multi-Venue Sports and Entertai...
 
02 October 2021

Knocking-The-Hustle In Southeast Mesa/District 6: City Manager Chris Brady Wants To Speed-Up Fast-Tracking for A Water-Guzzling 'Sports Complex' 


 

One word sums it all up: It's a HEIST ...and where is any analysis of Environmental Impact or Sustainability Financial Disclosures and F...
28 June 2022

NOT A SURPRISE: Salt Lake City Developer Gets Go-Ahead for 40-Year Development Rights @ Gateway East 


 

Hmmm Before Boyer starts putting buildings in, there is “horizontal development” that needs to take place, namely roads and utilities. Yep, ...

(Excerpt detail) 
Making connections to meet a crisis
". . .Early in the pandemic, a grant from U.S. Bank Foundation via LISC seeded RAIL’s effort, providing $20,000 to augment organizational capacity and $40,000 for dispersal as small grants to businesses in Tempe and Mesa. 
✓ Also via LISC, Bell Bank contacted RAIL for help distributing federal Paycheck Protection Program (PPP) forgivable loans to underserved businesses in need. And when the City of Mesa, using funds made available by the CARES Act, started a program providing three months’ utilities and rent to businesses suffering COVID-related losses, says Suarez, “we called the city and said we would love to help, we want to reach out to places we know are not being reached.”
 
02 October 2022

TRUMP CAMPAIGN RALLY FOR THE ENTIRE TRUMP TICKET@ LEGACY SPORTS PARK Here in Mesa Next Sunday

Save America Rally in Mesa, AZ Sun, October 09, 2022 - 04:00 pm (US/ARIZONA) Legacy Sports Park Please join us f...

____________________________…….…,,

02 October 2021

Knocking-The-Hustle In Southeast Mesa/District 6: City Manager Chris Brady Wants To Speed-Up Fast-Tracking for A Water-Guzzling 'Sports Complex'

One word sums it all up: It's a HEIST ...and where is any analysis of Environmental Impact or Sustainability
Financial Disclosures and Fact-Checking all the hope. Most important is for any Mesa City Council member to recuse themselves of voting to approve by disclosing any apparent or perceived conflicts-of-interest that are direct or indirect, or ownership of stock interests that might be involved in the massive plans.

BTW: That item on last Thursday's Mesa City Council got some special focus - and a presentation - for two items Item *6-a and *6-b 
 
 
 
The 320-acre complex will be called Bell Bank Park, designed to host youth and amateur sports teams and individual and team training, family fun via events, concerts, youth sports tournaments, and fitness opportunities,” the announcement last week stated. “It will be the largest of its kind in North America.”
==============================================================================
BLOGGER INSERT:When it opens in January 2022, Legacy Sports Park — on 320 acres at Ellsworth and Pecos, just east of Mesa Gateway Airport on the former General Motors Proving Ground — will be the largest privately owned facility of its type in the country.
========================================================================
"The fast-track project, announced less than six months ago, is scheduled to open in January 2022.
The park will also feature a multi-purpose arena and outdoor 2.7-acre great lawn for concerts and events. 

You name it in the sports world, they got it. Indoor and outdoor facilities will host soccer, baseball, softball, football, lacrosse, basketball, volleyball, pickleball, gymnastics, cheer, dance, obstacle course racingplus eSports and high-level fitness training.

(OK. and don't forget gambling and betting on the new industry of e-Sports)

 

 “One of the things we pride ourselves on is it’s not just a sports complex but a true entertainment district. There’s going to be something for everyone from 5 to 95, whether you play sports or just want to go out and walk around and hear music,” Legacy CEO Chad Miller told the Tribune in mid-March.

Even before receiving official zoning approval, and even before Mesa officially annexed the former “county island,” Miller’s bulldozers were moving dirt near East Pecos and South Ellsworth roads.

The Mesa City Council gave Miller and company the green light, fast-tracking the construction project.

“As a family-owned company, it’s been especially meaningful to us to connect with the Miller family at Legacy Sports USA,” Bell Bank CEO Michael Solberg said.

Founded in 1966 in Fargo, N.D., Bell Bank now has locations in Arizona, North Dakota and Minnesota and more than $10 billion in assets. Bell Bank also has a “pay it forward” program, giving every full-time employee $1,000 and every part-time employee $500 each year to give as they choose to individuals, families and organizations in need.

“Bell Bank Park will be a special place to compete and train, and gather with family and friends to enjoy sports and live entertainment,” Miller promised. And, OVG Chairman Peter Luukko chimed in, “Bell Bank Park will be the premier destination for aspiring athletes, sports enthusiasts. It will be the ultimate place to train, play and enjoy live events.”

> Miller and Luukko already booked tournaments from pickleball to softball, planning to hit the turf running in 2022.

Mutsy Icon Step Into Your Future Sticker by Mutsy for iOS & Android | GIPHY

They expect 5 million visitors every year for the area just south of the Eastmark and Cadence communities." 

THERE'S A LOT OF INFORMATION TO PROCESS > TRY THIS ONE ON

A Proposed Development + A Related Pre-Annexation Development Agreement
"Legacy Sports Park"
Legacy Sports Park is a planned 320-acre private family sports and entertainment complex
 
SOUNDS LIKE AN ALREADY-DONE DEAL ???

Massive multisport facility under construction in Mesa gets first general manager, new events

 
____________________________________________________________________________________________
Item 2-a
File #: 21-0296   

Type: Presentation Status: Agenda Ready


In control: City Council Study Session
On agenda: 3/11/2021

Title: Hear a presentation and discuss a proposed development project known as “Legacy Sports Park”, generally located at the southeast corner of South Ellsworth Road and East Williams Field Road, and related pre-annexation development agreement.
Attachments: 1. Presentation

=======================================================================

___________________________________________________________________________

 

17 April 2022

MESA'S FAST-TRACKED LAND-USE PLANNING CREATES A $90 BILLION-DOLLAR SELF-INDUCED BOTTLE-NECK

When back-handed plans between ADOT, Mesa and Legacy Sports USA (which operates Bell Bank Park) suddenly materialized a few months ago, it turns out that the state-and-municipal partnership with a private  group is creating one more scheme to ask for public tax-dollars to finance the infrastructure that will deliver forecasted 3,000,000-5,000,000 visitors to the area.
That old short-sighted Suburban Sprawl Mantra "Build it and They will come" has untold consequences on the environmental impact - the fat-jammed project has not undergone public scrutiny nor an objective analysis of the long-term costs.
MAG officials asked community leaders for their transit wish list for the coming decades.
The estimated cost for all of those more than 1,400 projects is $90 billion.
FEATURED TOP STORY            

Bottlenecks big priority for agency

Transit             

"Addressing bottlenecks on the Santan and Loop 101 freeways and adding two rapid bus routes are among the transportation priorities for the county agency that plays a key role in helping people get around Maricopa County.

Audra Koester Thomas, the transportation planning program manager for the Maricopa Association of Governments, said every project on its list is important, but that expanding the number of lanes on the Santan Loop 202 Freeway between the Loop 101 and I-10 as the most important.

Two rapid-bus routes are planned. One would go up Arizona Avenue through the heart of downtown Chandler to Mesa and a light rail transit center and the other between Scottsdale Fashion Square and Chandler Fashion Center.

“The purpose of the route is more about connecting Chandler, Scottsdale and Tempe residents with downtown Tempe/ASU and downtown Scottsdale, along with a connection to either mall at the north/south end and the Chandler Fashion Center,” said Jason Crampton. “Additionally, the route will provide a faster connection to light rail and other regional bus lines in the area.” 

That route would travel mostly on Rural and Scottsdale roads.

Another high priority is addressing the rush-hour bottleneck on the Loop 101 between U.S. 60 and the Red Mountain Freeway.

A key to addressing all those priorities is voters passing an extension to Prop. 400, a half-cent sales tax dedicated to addressing the region’s transportation needs. It will likely be included on this year’s ballot in November, although at this newspaper’s deadline, both chambers in the Legislature were considering a bill to put the tax on renewal on this year’s ballot. The current tax expires in 2025.

Thomas said a lot of infrastructure has been built in East Valley since the 1980s and it has helped fuel the growth of Chandler to being Arizona’s fourth largest city.

“That half-cent sales tax is what delivered this network that you see here,” Thomas said, saying there are other projects in the works that will impact Chandler commuters.

“Finishing up the HOV lane, here out east of Chandler, around the Santan, so completing that freeway network,” she said. “Build out of the SR 24 (Gateway Freeway)  and the southeast network.”

The Arizona Department of Transportation two weeks ago opened another four-lane stretch of SR 24 to help access Bell Bank Park in Mesa as well as some residential areas. 

The mile-long section is an interim four-lane roadway between Ellsworth and Williams Field roads and was completed several months ahead of schedule as part of a partnership between ADOT, Mesa and Legacy Sports USA, which operates Bell Bank Park. The new sports and entertainment complex is southeast of the new intersection connecting SR 24 and Williams Field Road.

The new section is part of ADOT’s  $77 million project to build SR 24 as a divided four-lane roadway between Ellsworth Road in Mesa and Ironwood Drive in Pinal County. 

The entire five-mile-long project is scheduled for completion later this year. . ."


THE EVERYWHERE STRATEGY (It didn’t have to be this way.)

The Chinese communist system may be repressive and rigid, but it is more steady than the trajectory of the United States, with long-term plans that can run decades. U.S. diplomacy, on the other hand, has become too capricious, unreliable and exposed to partisan deadlock, officials and analysts say...

 In diplomacy, China intends to be everywhere. In particular, Chinese diplomats lavish attention on two regions that are often afterthoughts in U.S. policy — Africa and Latin America — while devoting significant resources to their Asian neighbors. This can mean building big embassies or simply having a small outpost with a few diplomats, just to mark a presence. That includes places right on America’s doorstep, like the Caribbean.

 

www.politico.com

‘Frustrated and powerless’: In fight with China for global influence, diplomacy is America’s biggest weakness 



By Nahal Toosi 10/23/2022 07:00 AM EDT Link Copied
51 - 65 minutes

Illustration by Pablo Delcan for POLITICO 

". . .It didn’t have to be this way.

 

In late 2017, the then-U.S. ambassador to Panama, John Feeley, urged American firms to compete to build what’s called the “fourth bridge.” It was a sensitive time. Earlier that year, Panama had switched its diplomatic relations from Taiwan to Beijing, blindsiding Washington. A bid for the $1.5 billion project could have signaled America’s enduring interest in this country in its own hemisphere, home to a canal whose U.S.-led construction transformed global trade over a century ago. But U.S. firms, for various reasons, declined to bid. And unlike his counterparts from China, with their communist rule and state-owned enterprises, Feeley, a mere U.S. diplomat, held little sway over American companies.

“I felt frustrated and powerless,” Feeley recalled. “I rang every bell in Washington that I could to try to drum up U.S. private sector interest. I asked for a commercial delegation to come down, and I got nothing.”

Such scenes have been playing out from Kenya to the Solomon Islands as the United States and China engage in a growing contest for international influence that could heavily shape geopolitics in the decades ahead. Beijing’s success in bolstering its presence in the Americas attests to the scope of its ambitions and the extent of the United States’ challenge in answering them. President Joe Biden and his aides recognize the stakes involved, and they argue that to compete with China, the United States must, above all, invest in its physical, technological and even sociological infrastructure at home.

But when it comes to the global faceoff, America’s approach to diplomacy could prove its biggest weakness, according to conversations POLITICO held with more than 50 former and current U.S. and foreign officials, diplomats, analysts and others who follow international affairs, as well as reviews of an array of congressional, think tank and other studies. Some of the people interviewed were granted anonymity to more candidly discuss a sensitive issue. . ."


 

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Sunday, October 23, 2022

Egypt’s Economic Conference 2022

 

english.ahram.org.eg

Ongoing crises pressure emerging, developing economies including Egypt, Economist El-Erian tells Egypt’s Economic Conference 2022 - Economy - Business


Mohamed El-Erian

Global economist Mohamed El-Erian addressing Egypt s Economic Conference kicked off on Sunday in a recorded message

00:00 / 01:48

El-Erian made his comments in a recorded message aired during Egypt’s Economic Conference, which kicked off on Sunday at the New Administrative Capital in the presence of the President Abdel-Fattah El-Sisi.

The Egyptian-American economist noted that the Russian-Ukrainian conflict has curbed the global economy’s ability to grow as well as accelerated the headline inflation rates driven by the food and energy prices crisis.

“The majority of countries across the world have lost their ability to grow in terms of their economies as well as their capability of dealing with the ongoing crises,” according to El-Erian.

El-Erian also said that the shocks that global economy and the world financial system are experiencing are unprecedented, stressing that these challenges require a more sustainable and inclusive economic growth and a more resilient financial system rather than the artificial finances provided through the central banks across the world.

The three-day is being held in response to President El-Sisi’s directive to chart a clear path for the Egyptian economy amid the ongoing global crisis.

The conference focuses on exploring ways to increase the private sector’s share in Egypt’s economic activity and its GDP as well as ways to support the national economy while navigating the ongoing global economic crisis and its associated severe impacts." 

english.ahram.org.eg

Egypt’s Economic Conference 2022 kicks off in presence of President Sisi - Economy - Business 





The prime minister made his remarks in the opening speech of the Egyptian Economic Conference 2022 that kicked off on Sunday in the New Administrative Capital east of Cairo in the presence of President Abdel-Fattah El-Sisi.

"Egyptian Economic Conference 2022 comes amid one of the worst global economic crises in 80 years," added Madbouly about the conference that is centered around the theme: “a roadmap to a more competitive economy.”

Senior government officials, high-profile economists, intellectuals, thinkers, specialists, businessmen, as well as representatives of more than 80 political parties and parliament members are attending the three-day event.

The EEC 2022 was called for by El-Sisi in early September when he urged the government to organise an economic conference to discuss the present economic conditions to boost all sectors of the domestic economy. . .'

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The prime minister made his remarks in the opening speech of the Egyptian Economic Conference 2022 that kicked off on Sunday in the New Administrative Capital east of Cairo in the presence of President Abdel-Fattah El-Sisi.

"Egyptian Economic Conference 2022 comes amid one of the worst global economic crises in 80 years," added Madbouly about the conference that is centered around the theme: “a roadmap to a more competitive