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In this study a relationship between the fluctuation of a nation's monetary reserves and political risk is established. A least square regression model is used for the 1972–87 period and monetary reserves fluctuations of nineteen countries are analyzed. It is concluded that monetary reserves data can be used as a cost efficient proxy for political risk in moderate risk non‐oil exporting countries. Less politically risky countries also exhibit a positive relationship but the results are not statistically significant. This study has special implications for small and medium‐sized corporations. Further, the limitations of this study are discussed.

This study aims to examine the impact of flexible work arrangements (FWAs) on employees’ perceived productivity, quality of work and organisational commitment (OC) with a special focus on the United Arab Emirates. It also analyses the mediating effect of employee happiness on the relationship between FWA and employees’ perceived productivity, OC and perceived work quality.

A quantitative, non-experimental correlational study was used for this research project. The study yielded numerical data, which were analysed using a deductive approach. The analysis aimed at exploring the relationships between the constructs, which were viewed as variables; these relationships were considered correlations, mediation and moderation. The sample comprises employees currently working at different public and private sector organisations, representing all major service industries in the UAE. Nine questions were used to assess the flexibility at work and six out of the nine questions were used to measure the level of FWAs using the Likert scale.

FWA has a significant and positive association with the employees’ perceived productivity, quality of work and OC. It was confirmed that happiness plays a mediating role in the relationship between FWA and employee outcomes. The facility allows employees to manage their personal and professional lives with ease using their preferred work method. This ability promotes employee satisfaction. In conclusion, managers and employees around the world should view FWAs as a positive tool to enhance employee productivity and OC, particularly in an emergency like the Covid-19 pandemic.

The participants’ honesty was a limitation, which could raise questions on the validity of this study. This limitation arises when the self-report method is used for data collection. Use of multiple instruments could be another limitation.

Organisational leaders can use FWAs to improve employee outcomes. When an organisation grants flexible work options to employees, it implies that the organisation trusts its employees to complete the task. This factor motivates all employees to work with dedication, which is particularly true if the employees are creative people and wish to work on their preferred time and place.

This study is significant because the findings will allow managers to assess the benefits of using FWAs to improve employee productivity, particularly in the service sector. It combines the aspects of perceived productivity, OC and perceived work quality, as well as employee happiness to assess the role of FWAs in organisations. The study also investigates the influence of FWAs in improving these employee outcomes. Based on the literature review, this study on FWAs is the first of its kind in the UAE, the country using a truly multinational workforce coming from more than 100 countries and cultures.

Outlines the technological problems which make it hard to deliver high quality video over the internet, e.g. insufficient bandwidth, clients’ machines etc.; and considers how they might be solved. Describes how digital video, audio presentations and animations can be streamed to a computer and the ways in which various US sectors are actually using streaming media at the moment. Discusses the future for multimedia applications in corporate training, e‐business and higher education; and predicts they will be very widely used as the technology improves.

Assesses the economic strengths and weaknesses of the six member states of the Co‐operation Council for the Arab States of the Gulf (GCC) and the patterns of trade between these states and the European Union (EU): the GCC’s largest trading partner. Explains the tariffs applied by the GCC states and the provisions of the EU‐GCC Free Trade Agreement; and considers its implications for trade, tariff revenues, industry, development prospects and political stability. Believes that it will contribute positively to the GCC and EU economies and help to reduce “tension between east and west”.

Outlines the development of Mercosur (South American economic bloc) and considers the assertion that it protects inefficient Brazilian industries and has failed to create extra trade. Analyses selected 1990‐1997 data for Brazil, Argentina, Paraguay and Uruguay to show that trade and foreign investment have increased since its formation in 1991; and compares the impact on trading patterns and trade balances for all four countries. Admits that Mercosur has some way to go in establishing a common market and has not increased exports to the rest of the world to the extent expected, but regards it as a qualified success.

A widely used strategy to cope with the dangers of foreign investment by hedging against potential losses is political risk insurance. All multinational corporations are subject to political risk perils. Political risk is defined as the adverse effect on the value of a business arising out of direct or indirect actions by a foreign government. Broadly speaking, there are six different types of political risk: confiscation, expropriation and nationalization; contract repudiation and frustration; unfair regulatory environment; currency inconvertibility; contingency; and war risk. Similarly, policies available can be defined according to these six categories. In summary, political risk insurance addresses losses which occur because of politically motivated decisions.

This special issue is devoted to a discussion of some major risks facing multinational companies (MNCs) in the operation of their global business. Multinational business is carried out in many ways including international trade and investment activities. Such enterprise may be confronted by a number of risks. Among these, the most important are foreign exchange risk, credit risk, interest rate risk, and political risk.