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The purpose of this study is to explore the role of gold as a hedge against inflation in the case of the United Arab Emirates.

The study utilizes monthly data on the local sharia-compliant spot gold contract traded on the Dubai Gold and Commodity Exchange (DGCX) and the corresponding consumer price index series over the period December 2015 to January 2021. The econometric approach employed by the study involves a unit root testing procedure that allows the timing of significant breaks to be estimated. A cointegration analysis is then conducted using a nonlinear autoregressive distributed lag (NARDL) model, taking into consideration the presence of structural breaks in addition to short- and long-run asymmetries.

The results reveal that consumer and gold prices are cointegrated, which implies that investing in gold can hedge against inflation in the long run. No sufficient evidence, nonetheless, is found in support of the ability of gold to serve as a hedge against inflation in the short run.

The findings have several important policy implications for policymakers and investors that are further discussed in the study.

This paper presents experiment results that examine the validity of extracting blade vibration signature from the shaft torsional vibration signals. A special test rig was designed and manufactured for this objective. A set of strain gages were bonded to the shaft and to the blades to measure the shaft twisting and blade bending deformations respectively. A controlled frequency exciter excited the blade vibration. The shaft torsional and blade bending vibration signals were simultaneously recorded and presented in the time and frequency domains. The blade bending vibration frequencies appeared dominantly in the shaft torsional vibration signals for all blade vibration frequencies up to 100Hz. For frequencies higher than 100Hz, less sensitivity of the torsional vibration to blade vibration was observed.

An economic assessment was performed of the potential for clean energy options to contribute to the power and desalination needs in the State of Kuwait over the next 20 to 40 years. The paper aims to summarize two analyses that were performed for the Kuwait Institute for Scientific Research to develop a strategy promoting renewable energy and evaluating alternative technologies including nuclear energy.

The analyses were performed using a power and water model for Kuwait that was constructed using the International Energy Agency – Energy Technology Systems Analysis Programme (IEA‐ETSAP) TIMES modeling framework. Data provided by the Ministry of Electricity and Water (MEW) and the Kuwait Petroleum Company (KPC) characterizes the projected demand for power and water; the existing and planned power generation and water desalination plants, including the expected retirement of existing plants; and future fossil fuel prices and availability. New power generation options – including renewable energy (RE), nuclear, combined cycle gas turbines (CCGT) and reheat steam power plants (RHSPP) – were compared in this least‐cost optimization framework.

The model results indicate that by 2030 the cost‐effective RE share is 11 percent of electricity generation in the reference case and 8 percent in the case with the nuclear option. The RE technologies alone provide a 2030 net‐back value compared to the reference case of US$2.35 billion, while in the nuclear case they increase the 2030 net‐back value by an additional US$1.5 billion. Increasing the RE share, as a government policy, to 10 percent, 15 percent and 20 percent, decreases the 2030 netback benefit by US$1.0, $3.6 and $8.3 billion, respectively.

Sensitivity runs based on scenarios that assume higher RE costs or lower availability, lower demand growth, lower oil and gas prices, higher nuclear plant investment costs, and RE capacity credit were analyzed.

The analysis provides a compelling economic basis for initiating a renewable energy program in the State of Kuwait. However, these forecasted benefits will only materialize to the extent the projected RE investments are achieved if they begin in earnest soon.

The analysis identifies a cost‐effective share of renewable energy use in Kuwait as about 11 percent of electricity generation in 2030. The investment in renewable energy provides the State of Kuwait with a net‐back value of US$2.35 billion, due to the fuel savings that are generated by using renewables.

This study investigates the impact of US dollar volatility and oil rents on the performance of small and medium-sized enterprises (SMEs) in the Gulf Cooperation Council (GCC) region, with an emphasis on understanding how these factors influence SME financing constraints in economies with fixed currency regimes.

Employing a random effects panel regression analysis, this research considers US dollar volatility and oil rents as independent variables, with SME performance, measured through the financing gap, as the dependent variable. Controls such as trade balance, inflation deltas and gross domestic product (GDP) growth are included to isolate their effects on SME financing constraints.

The study reveals a significant positive relationship between dollar volatility and the financing gap, suggesting that increased volatility can exacerbate SME financing constraints. Conversely, oil rents did not show a significant direct influence on SME performance. The trade balance and inflation deltas were found to have significant effects, highlighting the multifaceted nature of economic variables affecting SMEs.

The study acknowledges potential biases due to omitted variables and the limitations inherent in the use of secondary data.

Findings offer pertinent guidance for SMEs and policymakers in the GCC region seeking to develop strategies that mitigate the impact of currency volatility and support SME financing.

The research provides new insights into the dynamics of SME performance within fixed currency regimes, which significantly contributes to the limited literature in this area. The paper further underscores the complex connections between global economic factors and SME financial health.

This paper aims to examine the dynamic conditional correlation (DCC) and hedging ratios between Dow Jones markets and oil, gold and bitcoin. Using daily data, including the COVID-19 pandemic and the Russia–Ukraine war. We employ the DCC-generalized autoregressive conditional heteroskedasticity (GARCH) and asymmetric DCC (ADCC)-GARCH models.

DCC-GARCH and ADCC-GARCH models.

The most of DCCs among market pairs are positive during COVID-19 period, implying the existence of volatility spillovers (Contagion-effects). This implies the lack of additional economic gains of diversification. So, COVID-19 represents a systematic risk that resists diversification. However, during the Russia–Ukraine war the DCCs are negative for most pairs that include Oil and Gold, implying investors may benefit from portfolio-diversification. Our hedging analysis carries significant implications for investors seeking higher returns while hedging their Dow Jones portfolios: keeping their portfolios unhedged is better than hedging them. This is because Islamic stocks have the ability to mitigate risks.

Our paper may make a valuable contribution to the existing literature by examining the hedging of financial assets, including both conventional and Islamic assets, during periods of stability and crisis, such as the COVID-19 pandemic and the Russia–Ukraine war.

The purpose of this paper is to investigate the efforts undertaken by the Gulf Cooperation Council (GCC) countries in deploying renewable energy (RE), in terms of capacity assessments, research and development activities, and current and planned projects. The paper also aims to investigate the drivers and barriers for the diffusion of RE technologies in the GCC.

The paper provides a literature‐based study on the status of the RE sector in the GCC, including capacities, projects, policies and frameworks in the GCC, in addition to an analysis of the main drivers and barriers to RE deployment arising from the literature.

The results of this paper illustrate growing interest in renewable energy in the GCC countries at the R&D and project implementation level.

The paper contributes by the provision of the latest knowledge on the status of the RE sector in the GCC and by highlighting the most significant drivers fuelling RE deployment, as well as the barriers currently hindering the greater diffusion of RE technologies in the region.

The purpose of the study is to analyze the hedging abilities of the cryptocurrencies vis-à-vis gold against macroeconomic shocks in four emerging economies, India, China, Brazil and Russia.

Using the monthly data from January 2013 to April 2023, the paper analyses the response of Cryptocurrencies vis-à-vis gold prices to three different macroeconomic shocks, namely, the economic policy uncertainty shock, the financial uncertainty shock and the inflation shock, within a VAR framework with the help of the Generalized Impulse Response Function.

Both gold and cryptocurrencies have limited hedging abilities against macroeconomic shocks across countries. In India, bitcoin has become the new digital gold, while in China, it is not bitcoin but rather gold that retains its hedging abilities. Neither bitcoin nor gold, Binance Coin or Cardano, are found to be the new digital gold in Brazil and Russia.

The paper compares the top nine cryptocurrencies with the traditional asset gold in terms of their hedging potential against macroeconomic shocks in emerging countries.

This study aims to trace the transformation in the form of apartment building and the connotations it has in understanding the changes that occurred in the Jordanian society’s lifestyle over the past five decades.

A comparative case study analysis has been conducted amongst 170 apartments, covering 70 design attributes related to aspects of appearance, spatial organisation, parking and access to building, outdoor space and finishing. This was followed by experts and households solicitation to help giving more confidence on the validity and reliability of findings regarding the sorts and justifications for the changes that have taken place in the form of apartments over the studied time frame.

The results reveal changes in design attributes indicating particular alterations in people’s lifestyle. New interests act in formulating recent housing design attributes. People seem to turn into a more open social life within public community but more privatised living amongst family members. People are becoming more attached to indoor modernised lifestyle, in homes and public areas where activities take place. This entails pursuing a more comfortable, facilitating and enjoyable life that presents luxury and tranquillity.

Understanding the relationship between transformations in the built form of apartment buildings and the associated social alterations provides useful insights towards improving housing provision to better match the ever-changing demands of people and respond to alterations in their lifestyles.

The purpose of this paper is to validate mathematically the feasibility of extracting the rotating blades vibration condition from the shaft torsional vibration measurement.

A mathematical model is developed and simulated for extracting rotating blades vibration signatures from the shaft torsional vibration signals. The model simulates n‐blades attached to a rigid disk at setting angles and the shaft drives the disk is flexible in torsion. The model is developed using the multi‐body dynamics approach in conjunction with the Lagrangian dynamics. A three‐blade rotor system example is simulated for blades free and forced vibration under stationary and rotating conditions. Frequency spectrums for the shaft torsional and blades bending vibration are represented and studied for analysis verification purposes.

The torsional vibration frequency spectrums showed blades free and forced vibration signatures. The blade setting angle is shown to reduce the sensitivity of torsional vibration signal to blades vibration signatures as it increases. The torsional vibration signals captured the variation in blades properties and produced broadband frequency components for mistuned system. The shaft torsional rigidity is shown to reduce the sensitivity of torsional vibration signal to blades vibration if increased to extremely high values (approaching rigid shaft). The rotor inertia is shown to have less effect on the torsional vibration signals sensitivity. The method of torsional vibration as a tool for rotating blades vibration measurement, based on the proposed mathematical model and its simulation, is feasible.

There is a growing need for reliable predictive maintenance programs that in turn requires continuous development in methods for machinery health monitoring through vibration data collection and analysis. Turbo machinery and bladed assemblies like fans, marine propellers and wind turbine systems usually suffer from the problem of blades high vibration that is difficult to measure. The proposed new method for blades vibration measurement depends on the shaft torsional vibration signals and can be used also for verifying the signals from other types of bearings sensors for possible blades vibration condition monitoring.

This paper presents a unique mathematical model and simulation results for the rotating blades vibration monitoring. The developed model can be simulated for studying coupled blades vibration problems in the design stage as well as for condition monitoring in maintenance applications.

Until recently, the Gulf Cooperation Council (GCC) region, whose members consist of Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Oman and Bahrain, has not significantly focused on the green transition. Specifically, wind energy development has made minimal progress relative to that of other regions.

The abundance of cheap fossil fuels in the region has not incentivized renewable energy development, and where this has taken place solar technologies are often preferred.

However, lower technology costs together with lost investment opportunities – also common elsewhere in the world, has increased the pressure on the GCC region from developers. This work qualitatively addresses the challenges and the strategies for the wind development in the area. It focuses on the analysis of different proposed type of investments – driven by a state-supported proposed fund – such as utility-scale investments, industry-specific investments, manufacturing investments and regional accelerators.

The work also suggests that Gulf sovereign wealth funds should act as the lead investors under new schemes, such as joint ventures, for wind development in the GCC, using their wealth to offering their populations with new sources of employment as well as energy that is sustainable.