Chapter 3b Macro and Macro Preprocessor-Design of Macro Prepropcessor
Macro Newsletter
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![Page 1: Macro Newsletter](https://reader035.fdocuments.us/reader035/viewer/2022062411/577cbfd41a28aba7118e38fc/html5/thumbnails/1.jpg)
PAGE 1
GCC to have single currency soon
During the three day summit happened on 5th October 2020, Gulf Cooperation Council
(GCC) had taken a historic decision to have a single currency by end of this year. This
decision is part of their long standing effort in bringing eco-
nomic integration, and better political cooperation. Efforts
have been made to have a single central bank, uniform legal
and regulatory environment.
GCC has taken big strides in driving economic growth with
major infrastructure projects, improving the booming tourism
and financial sector. Few GCC members believe that unless
there is a shift from trading oil and gold in dollars to the new
common currency, the move will have minimal impact. GCC
GDP has reached US $2 trillion, and is estimated to grow 6% annually for the next 5
years.
VOLUME 10 ISSUE 1
THIS ISSUE
Indian & Chinese expats in GCC
record highest remittances P.2
Hong Kong to choose
its Chief Executive P.3
Narendra Modi is the most followed
personality on Twitter P.4
Apple to launch 3-D OS P.5
‘Smart Meters’ in every UK household P.6
Dubai is all
geared up to
host World EXPO
2020
With just a few days to go, Dubai is
all set to host World Expo 2020 start-
ing from 20th October 2020 to 10th
April 2021. The World Expo is one of the largest global events. This six month mega
event is expected to attract 25 million visitors, 70 percent to 80 percent of whom are
expected to be from overseas. The theme of this Expo is “Connecting Minds, and Cre-
ating the future”, which aims to bring together likeminded people across the globe and
inspire them to contribute towards unprecedented scope in field of mobility and sustain-
ability.
Over the last 5 years, Dubai has invested Dh30billion on infrastructure projects . Dubai
Expo 2020 has managed to create 2,50,000 jobs in the field of construction, hospitality
and aviation. Huge investments, high inflow of tourists, and more prospects of trade
expected to push Dubai economy to greater heights. Hosting this mega event will posi-
tion Dubai as a global city and preferred destination for business.
WEEKLY DASH OF NEWS & VIEWS
GCC CENTRAL
OCTOBER 4-10, 2020
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Remittances from Indian &
Chinese expats based in GCC
countries hits the $150 billion
mark
The Dubai Expo scheduled to commence on October 20th has
created an economic boom not just in UAE and other GCC countries
but also in other developing nations; the prime benefactors being India
& China. Of the 200,000 new jobs created by the Expo, 65% were
distributed among the two Asian superpowers with Indians accounting
for 35% and 30% taken up by the Chinese.
The remittances by Indian & Chinese expats based in GCC
countries reached the $150 billion mark. The past 4 years has seen a
100% rise in remittances owing largely to the employment generated
by the Dubai Expo and the FIFA World Cup in Qatar in 2022. Labour
force employed in the numerous Infrastructure projects especially in
UAE and Qatar was the major contributor to the remittances with 75%
of the amount contributed by the workers. The $150 billion accounts
for 56% of the total global remittances by Indian and Chinese expats; a
rise of 10% from the last year.
Mohamed Badawy Al-
Husseiny talks to GCC
Central about his experience
on board the Virgin Galactic
Mohammad Badawy Al-Husseiny, the CEO of Aa-
bar Investments shares his experience on board the Virgin
Galactic with Abrar Ali
1. What was your experience like to be on the first flight
of Virgin Galactic?
It was unbelievable. I had goose bumps while the spacecraft
was surging through the skies at 2500 mph. As we moved away
from the atmosphere we could see the cobalt blue skies. I felt I
was watching Avatar from my window.
2. How tiring was your journey?
I was as fresh as a cucumber even after 4 days of the journey.
Richard has carefully thought about the safety and every aspect
of passenger comfort has been considered to make the journey
a memorable one.
3. Did you experience any glitches on board?
We had quite a few test flights without passengers on board.
We had no glitches enroute our journey to the moon. Richard
and I believe that the engine noise levels are areas for improve-
ment.
GCC CENTRAL REGIONAL NEWS
“There is no doubt in my mind that
the reformed education system in
India will keep producing
precocious talent who will find
employment across the world and
send more money back home.”
- Narendra Modi, PM of India
Pic: Mohamed Badawy Al-Husseiny (Right) with Richard Brason
PAGE 2
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China succumbs to protesters
pressure, Hong Kong to choose its
Chief Executive Hong Kong Federation of students with Benny Tai Yiu-ting hold the distinction
of starting “Occupy Central with love and peace” (civil disobedience movement) on
September 28th 2014. The movement intended to pressurize the government of
China to grant electoral system in Hong Kong chief Executive election in 2017.
The “Occupy Central” movement wound down after 13th October 2014. The com-
munist government held talks with protesters promising them with a broadly repre-
sentative nominating committee in accordance with democratic procedures.
The communist government did not fulfil their promise in the Hong Kong Chief
Executive election in 2017 as the residents were able to elect their ruler but only
from the list of candidates vetted by Beijing. Protests continued but the communist
government used force to calm the protesters.
On 23rd September 2020, the “Sit-in Tiananmen Square” movement had
gained momentum from various social media platforms and about 200,000 protes-
tors gathered in the centre of Beijing and demanded Hong Kong Chief Executive’s
(nominated by PRC ) resignation with immediate effect. The police made 23,000
arrests however the protesters continued to increase in number and refused to
leave in spite of force used against them. Official figures indicate at least 13,456
youth lost their lives since the campaign began on 23rd September. Social media
helped Hong Kong youth connect with a similar audience from China and by 4th
October 2020 the capital city was full of protesters. After four days of fruitless ne-
gotiations with protesters the communist government succumbed to the demands
of the agitators. The communist government promised protesters that the Hong
Kong Chief Executive’s would be nominated by Hong Kong citizens.
Does this movement signal the end of a communist government in China?
Corporate Tax cuts: A
bane or a boon to
America?
Republican party’s Presidential candidate Rand
Paul has brought a new tax plan as part of his election
manifesto. The new tax system plans to bring corpo-
rate income tax below 30 percent. With the election to
be held on Nov 10 2020 , this plan seems to be a last
minute addition to attract more votes. This comes into
picture after the candidate’s meeting with the current
president Hilary Clinton .
Experts predict that the tax plan might fall short of
4.2 trillion dollars in revenues. The Republican party
accepts the shortage in revenue and assures the peo-
ple that the details for closing the gap would be dis-
cussed when the tax plan is announced to the public.
Paul’s script resembles the tax plans put forward
by his predecessors from the Republican party. Ex-
perts believe the new tax plan might cause a deficit in
the total federal reserve and the national Debt will in-
crease if government spending is not reduced . The
Democratic party warns the repercussions of the tax
plan could be catastrophic . Speculation about the tax
plan without clear details has created a complete pan-
demonium among the people of United States . The
whole nation waits for the elections to be held exactly
one month from now.
Pic: Protestors at the Sit-in movement at Tiananmem Square
PAGE 3
GCC CENTRAL INTERNATIONAL NEWS
Pic: Rand Paul, Republican Party Presidential Candidate
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Narendra Modi
is the most
followed per-
sonality on
Twitter, one of the largest social
media platform has close to 2.5
billion users. With such a micro-
blogging website, not just India
but the entire world is busy fol-
lowing each other. Narendra
Modi, Prime minister of India
has surpassed the likes of Katy
Perry and Justin Bieber to be-
come the most followed global
personality on Twitter. A survey
conducted by Gartner revealed
that 20% of Modi followers are
Americans.
Narendra Modi is visiting the US
next week to strengthen Indo-
US relationships . Twitter would
be streaming the interaction
live.
PPP in India rises to a record high
In 2020, World Bank has published a report on Purchasing Power Parity (PPP), which
suggests much lower poverty rates in India. The PPP in India has increased by 20% over
the past 5 years resulting in a significant increase in the spending power of Indians. This
has made India a better country to live in since income equality is balanced. With a signif-
icant decrease in the number of people below poverty line, there is a vast growth in devel-
opment of the country which takes India one step closer to being a developed country.
Prime Minister Narendra Modi is also planning for a new goal which is expected to
make a prominent mark in the economy of the country by complete eradication of poverty
within the country.
GCC CENTRAL SOCIO-ECONOMIC NEWS
PAGE 4
Are Mortgage
Loans affordable
in Dubai ?
The topical context has been the cap on
mortgage loan which required expats to
have 50% of the deposit being reduced to
40% to buy a home. A recent survey was
conducted on expats working in Dubai on
this topic and about 35 percent said they
prefer the rent to own scheme as it
has lot of advantages. But on the contrary
about 30 percent of the expats welcomed
this move and about 25 percent were not
aware that a rent to own scheme or the
change in mortgage loans existed in Du-
bai. With EXPO on the bigger picture for
inviting more countries , this change
might seem trivial to other nationals.
Pic: PPP growth comparison over 40 years
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Apple launches 3D version of OS X –
Utopia
Apple today unveiled OS X Utopia available with the all new MacBook ProMo-
tion, a 3D version of OS X which allows you explore the world in a whole new way.
The Apple Motion Controller® with 3D graphics allows you to naturally move your
hands to feel the applications. The new technology will help you to interact with
applications in a ten cubic feet 3D space using gestures without the use of Mac’s
Multi Touch® trackpad. You can now browse the internet, read articles, listen to
music by just lifting your finger. You can even use a pencil or a paintbrush to draw
and paint. You can now play the guitar, race cars and land aircrafts with your
hand. The Apple Motion Controller® does not replace your keyboard, mouse, or
trackpad. You can disable the Motion Controller® and use your MAC like you used
to before.
Apple had reported a sluggish Q3 results brought down by declining sales for
iWatch, iPad Sleek, and MAC mini. The launch of iPhone Air and the all new Mac-
Book ProMotion is expected to help Apple bounce back with better Q4 results and
end the year on a high.
The New Age of
Machine Sports
For the first time in history Tokyo is all set to
launch its grand opening of Olympics for Robots on
12th October after tremendous success in human
Olympics that got over in 9 August 2020. This even-
tually is an opportunity for companies to showcase
their potential for creating Robots. Close to 180 com-
panies are expected to be part of this event with
HONDA and TOSY co-hosting the event.
The number of fans for robot games have been
expanding over the years. The event gives Tokyo an
opportunity to expand its tourist base as close to
200000 are expected to visit Tokyo during the Olym-
pics . This event has caused the manufacturing and
R and D sector all over the world to grow by 11%.
Electric vehicles – The
Future of Mobility has
arrived
Electric and hy-
brid vehicles
have sold record
37 million units
in year 2019,
and this year
2020 automotive
industry are ex-
pecting to sell 42 million cars. Global total car sales
stand at 100 million units, so one is every 3 car is
now an electric / hybrid car. Auto sector expecting the
electric/hybrid car sales will increase 25 percent year
on year. By year 2025, it is estimated that Electric
and hybrid car sales will constitute 80 percent of total
global car sales.
Oil price rise in recent
years is one of the major
reasons global consumers
are shifting their mobility
towards more fuel efficient
cars. Stricter emission
norms adopted by west-
ern countries and effort to move towards greener
technology are also some of the added reasons.
Globally, oil importing countries are trying to reduce
their oil imports. Auto sectors constitute 30 percent of
total consumption. It will be huge impact to the Bal-
ance of payment and reduce fiscal deficit for these
countries. Electric vehicles are the new future of mo-
bility, and going to rule in the portfolio of auto indus-
tries.
GCC CENTRAL TECHNOLOGY NEWS
PAGE 5
Techno Tidbits
Samsung will be launching the next -gen X-series
smartphone that doesn't require external charging.
They have developed a patented Electromagnetic
receiver which can amplify radio signals coming from
the mobile tower and use this energy to charge the
phones.
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UK becomes the first country to install a
‘Smart Meter’ in every household
In what could be termed as a landmark achievement in the field of energy conservation, UK be-
came the first country to achieve 100% installation of Smart Meters. October 7th marked the comple-
tion of the project that begun in early 2015, with 53 million meters installed in 30 million households
and offices across UK. Prime Minister David Cameron and King Charles of England were present at
the gala event that marked the installation of the final Smart Meter inside Buckingham Palace.
The project which was expected to cost £11 billion to the UK Government overran its
costs by £4 billion due to inflation in the rollout costs over a period of 5 years. The meters,
which monitor energy usage in real time, have enabled households to save up to £23 on
their annual energy bills. The total accumulated savings on energy bills in the last 5 years
amount to £3.4 billion and are expected to rise to £7.3 billion through the next decade.
75% of AICHI 2020 Biodiversity targets
still not met
The Conference of Parties (COP) which form the Convention on Biological Diversity
(CBD) took place in New Delhi, India on Monday, 5th October. 75% of Global Biodiversity
targets set by the convention in Aichi, Japan in the year 2010, were missed thereby pos-
ing questions to the environmental sustainability of the globe. The targets that included
among others, reduction in loss of habitat, pollution control, preservation of endangered
species and restoration of ecosystems, were grossly underachieved. 10 species of mam-
mals became extinct along with 30 species of fish and more than 200,000 km2 of land
underwent deforestation as steady growth in global population led to increased consump-
tion of resources. Governments and authorities of member countries were unable to regu-
late the degradation of flora and fauna.
European Nations set an example for the rest of the world by achieving their individual
targets whereas developing nations in Asia and Africa were unable to achieve their tar-
gets owing to population explosion and rising levels of income. Critical measures were
drafted for the next decade which would be published in the report titled New Delhi 2030,
to be released on November 27th of this year.
GCC CENTRAL ECOLOGY NEWS
PAGE 6
Email your queries to:
GCC Central
C08, China Cluster, International City, Dubai