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ralqass

Saudi Arabia approves ambitious plan to move economy beyond oil | World news | The Guardian - 0 views

www.theguardian.com/...lan-to-move-economy-beyond-oil

shared by ralqass on 26 Apr 16 - No Cached
  • ralqass on 26 Apr 16
     
    15-year plan includes diversification, privatisation of state assets, tax increases and creating a $2tn sovereign wealth fund
kristaf

What's Next For Egypt After Sisi's Win? : NPR - 0 views

www.npr.org/...next-for-egypt-after-sisis-win

#EgyptElections #MuslimBrotherhood #PoliticalPrisoners #Sisi

shared by kristaf on 22 Sep 14 - No Cached
  • une 01, 2014
  • Abdel-Fattah el-Sisi
  • 2012 brought the Muslim brotherhood and Mohamed Morsi to power.
  • ...6 more annotations...
  • Muslim Brotherhood
    • kristaf
      kristaf on 22 Sep 14
       
      Muslim Brotherhood- "in Egypt is a Sunni Islamist religious, political, and social movement."
  • in 2011, the revolution hatched in Tahrir Square helped bring down Egypt's long-time dictator, Hosni Mubarak
  • Egyptians went to the polls once again and they elected former Field Marshal Abdel Fatah Al-Sisi
  • How can be genuinely democratic when certain portions of society are basically banned, not allowed to participate in that way, if they're members of the Muslim Brotherhood.
  • And also all voices of dissent being suppressed. Thousands of people characterized as political prisoners are languishing in jail here in Egypt.
    • kristaf
      kristaf on 22 Sep 14
       
      comment on how there are still injustices within Egypt as some people have been jailed for voicing their opinions
  • his is a country that has a difficult economy, power outages, a huge gap between the rich and poor. So this is a president that's going to have to deal with all the issues that Egyptian's are trying to deal with along with security.
    • kristaf
      kristaf on 22 Sep 14
       
      Question's regarding the economy, power outages, and the gap between the rich and poor. All issues to be considered and researched
  • kristaf on 22 Sep 14
     
    The story discusses the election of Abdel-Fattah el-Sisi following the forced removal of Morsi whom was a leader of the Muslim Brotherhood. The Muslim Brotherhood boycotted the election in an effort to make their presence known as well as their strong belief in having Morsi return to office. The Muslim Brotherhood still banned from being recognized as an organization establishes the contradiction of the elections being "genuinely democratic."
  • kristaf on 22 Sep 14
     
    The story discusses the election of Abdel-Fattah el-Sisi following the forced removal of Morsi whom was a leader of the Muslim Brotherhood. The Muslim Brotherhood boycotted the election in an effort to make their presence known as well as their strong belief in having Morsi return to office. The Muslim Brotherhood still banned from being recognized as an organization establishes the contradiction of the elections being "genuinely democratic."
allieggg

Islamists Aren't the Obstacle | Foreign Affairs - 0 views

www.foreignaffairs.com/...islamists-arent-the-obstacle

middle east democracy Islamists institutions egypt politics tunisia

shared by allieggg on 28 Sep 14 - No Cached
micklethwait liked it
  • A minority of the population -- 26 percent of Tunisians and 28 percent of Egyptians -- believes that Islam should play a large role in government.
  • Islamist parties received considerable support in both countries' recent elections -- not only because there is a broad ideological affinity for Islamism among the population but also because of Islamist parties' effective campaigning.
  • Both secularists and Islamists associate democracy with economic prosperity
  • ...10 more annotations...
  • When asked about the most important feature of a democracy, 69 percent of Egyptians and 32 percent of Tunisians put providing people with basic necessities or narrowing the gap between rich and poor at the top of their lists.
  • On a related note, Islamist parties have shown a remarkable ability to maintain their base.
  • Tunisia has fared better than Egypt so far in the post-Arab Spring transition, with less violence, fewer demonstrations, and greater political stability. This is in part because challenges are easier to confront in a country of only 11 million, 98 percent of whom are Sunni Muslim, compared to the more diverse and populous Egypt. But Tunisia's success is primarily a result of its stronger institutions, which provide a conduit for political debate.
  • Egypt's institutions are weak and have been routinely undermined by entrenched interests. The countries' different geopolitical situations play a role here. Tunisia's minimal strategic importance means that foreign countries have less reason to intervene. But Egypt's proximity to Israel and the Palestinian territories, its 1979 peace treaty with Israel, and its role as an intermediary between Israel and Hamas make its political developments important to Israel and the United States. Consequently, Egypt is vulnerable to foreign interference, particularly to attempts to prop up its military. Furthermore, beyond serving as a pillar to Egypt's authoritarian regimes, the Egyptian military has significant business interests and accounts for ten to 30 percent of Egypt's gross domestic product.
  • Egyptians, in fact, are no more religious than Tunisians.
  • Many onlookers claim that Egypt's more tumultuous post-revolution trajectory is because of the country's legacy of religiosity and Islamism.
  • Egypt's judicial branch, which is also more powerful than Tunisia's, has at times undermined democratic processes.
  • Egyptian Supreme Constitutional Court ruled that the Islamist-dominated parliament and the Constituent Assembly it elected were unconstitutional, because Islamist parties contested seats intended for independent candidates. The move polarized the country and pushed the executive branch to take extreme measures.
  • Egyptian democracy is undermined by the inability of institutions to address citizens' demands and the impulse of powerful actors to interfere, not by the divide between Islamists and secularists. Institutions in Egypt fail to provide a meaningful forum for debate. As a result, violent street protesters and extremist sheiks are gaining power.
  • U.S. policy must support institutions rather than actors, and processes rather than outcomes, in order to help Egypt and Tunisia achieve their democratic potential.
  • allieggg on 28 Sep 14
     
    The Council on Foreign Relations published an article about democratization in the middle east and the major obstacles that are present in the process. While most assume Islamists and Islamic embedded institutions are the root of the delayed democratic transition, the problems are much bigger than that. While Islamist regimes do indeed stunt the growth of democratic progress in terms of creating a stable government, Arab countries struggle with economic and social factors as well. The Arab Spring Revolutions have caused economic and social degradation across the region, resulting in a road block of political leadership. Without a reliable and capable government structure, the states are unable to progress economically. However, in order to have a stable government, social and economic institutions must be in place to create this capitalist economy that they strive for. Because most wealth resides in oil, the revenue that the states bring in isn't distributed properly throughout society and is concentrated within few business elites. The article stresses that instead of foreign aid going into the hands of an unstable leader or regime, it should be invested in institutions in order to spur economic growth and eliminate corruption. Rather than focusing on the Islamist-secularist divide, the world should be working towards the strengthening of institutions to create a stable foundation for governance. 
aavenda2

Saudi Arabia's Muhanna Sees Oil Recovering From 'Temporary' Drop - 0 views

www.bloomberg.com/...d-is-temporary-saudi-s-muhanna

Saudi Oil Future

shared by aavenda2 on 09 Apr 15 - No Cached
  • aavenda2 on 09 Apr 15
     
    An article of Saudi oil leaders projecting their optimistic views on the future of the oil economy. + a very interesting quote "Saudi Arabia sets its crude prices based on refining margins and not politics, al-Muhanna said."
wmulnea

The Isis economy: Meet the new boss - FT.com - 0 views

www.ft.com/...27-11e4-82c7-00144feabdc0.html

shared by wmulnea on 02 Mar 15 - No Cached
  • Iraq’s second city of Mosul looks like a model of success for its new rulers from the Islamic State of Iraq and the Levant
  • But in the back alleys, litter fills the streets. The lights stay on, but only because locals rigged up generators themselves. And under the blare of café televisions, old men grumble about life under Isis’s self-proclaimed caliphate.
  • “We’ve endured international sanctions, poverty, injustice. But it was never worse than it is now.”
  • ...16 more annotations...
  • Abu Ahmed at first welcomed the takeover by Isis,
  • Sunni Muslims in both countries have long felt discriminated against by regimes dominated by rival sects
  • without an economy that gives people a chance to make a living, many say Isis has little more to offer
  • “Compared to past rulers, Isis is a lot easier to deal with. Just don’t piss them off and they leave you alone,” says Mohammed, a trader from Mosul. “If they could only maintain services — then people would support them until the last second.”
  • “They’re operating like something between a mafia, an insurgency and a terror group. Maybe they thought six months ago they were going to function as a state. But they don’t have the personnel or manpower.”
  • the FT found its attempt at state-building has so far failed to win over locals.
  • volunteers handing out sacks of wheat stamped with their black and white seal. They even announced plans to issue a currency,
  • In some cases they say Isis takes credit for systems in place before it seized power. In others, locals say it is stealing the resources of the region it seeks to rule
  • Travellers must stock up on Iraqi dinars to use in Iraq, US dollars for the road and Syrian pounds once they arrive.
  • “I’m against Isis with all my heart,” Mahmoud says. “But I can’t help but admire their cleverness.”
  • Isis struggles to balance its books,
  • services continue to function because of the money Baghdad still pays to former civil servants in Mosul. Isis taxes those employees at up to 50 per cent of their salaries.
  • It is as if Isis is financing itself partly through a pyramid scheme, and this has begun to falter.”
  • Though many now question Isis’s economic management, its military prowess and organisational skills are clear.
  • Isis allows easy movement through its territories to facilitate trade. Trucks passing through are taxed about 10 per cent of the value of their cargo.
  • “I may be a Salafi, but I’m not an idiot,” he jokes.
allieggg

Can Libya Rebuild Itself After 40 Years of Gaddafi? - 0 views

www.newsweek.com/f-after-40-years-gaddafi-68601

Gaddafi libya Arab Nationalism recontruction political tabula rasa Revolution politics middle east

shared by allieggg on 12 Nov 14 - No Cached
  • the man has hollowed out the Libyan state, eviscerated all opposition in Libyan society, and, in effect, created a political tabula rasa on which a newly free people will now have to scratch out a future.
  • Jamahiriya, a political system that is run directly by tribesmen without the intermediation of state institutions
  • the problem is, of course, that much like in the former Soviet satellites in Eastern Europe, virtually everyone at one point or another had to deal with the regime to survive.
  • ...25 more annotations...
  • Libya is truly a case apart.
  • the disastrous Italian legacy in Libya, has been a constant element in Gaddafi’s speeches since he took power
  • inspired by Gamal Abdel Nasser, neighboring Egypt’s president, whose ideas of Arab nationalism and of the possibility of restoring glory to the Arab world, would fuel the first decade of Gaddafi’s revolution.
  • he was unimpressed with the niceties of international diplomacy,
  • In a brilliant move that co-opted tribal elders, many of whom were also military commanders, he created the Social Leadership People’s Committee, through which he could simultaneously control the tribes and segments of the country’s military.
  • When it turned out that Libya, which was still a decentralized society in 1969, had little appetite for his centralizing political vision and remained largely indifferent to his proposals, the young idealist quickly turned activist.
  • Green Book, a set of slim volumes published in the mid-1970s that contain Gaddafi’s political philosophy, a blueprint is offered for a dramatic restructuring of Libya’s economy, politics, and society. In principle, Libya would become an experiment in democracy. In reality, it became a police state where every move of its citizens was carefully watched by a growing number of security apparatuses and revolutionary committees that owed loyalty directly to Gaddafi.
  • Having crushed all opposition by the mid-1970s, the regime systematically snuffed out any group that could potentially oppose it—any activity that could be construed as political opposition was punishable by death, which is one reason why a post-Gaddafi Libya, unlike a post-Mubarak Egypt, can have no ready-made opposition in a position to fill the vacuum.
  • The tribes—the Warfalla, the Awlad Busayf, the Magharha, the Zuwaya, the Barasa, and the smallest of them all, the Gadafa, to which he belonged—offered a natural form of political affiliation, a tribal ethos that could be tapped into for support. And perhaps, in the aftermath of Gaddafi, they could serve as a nucleus around which to build a new political system.
  • Gaddafi feared they might coalesce into groups opposing his rule. So, during the first two decades after the 1969 coup, he tried to erase their influence, arguing that they were an archaic element in a modern society.
  • comprehensive reconstruction of everything civic, political, legal, and moral that makes up a society and its government.
  • After systematically destroying local society, after using the tribes to cancel each other out, after aborting methodically the emergence of a younger generation that could take over Libya’s political life—all compounded by the general incoherence of the country’s administrative and bureaucratic institutions—Gaddafi will have left a new Libya with severe and longstanding challenges.
  • the growing isolation of Libya as international sanctions were imposed.
  • Lockerbie was the logical endpoint for a regime that had lost all international legitimacy.
  • while the regime still had the coercive power to put down any uprisings that took place in the 1990s, it became clear to Gaddafi’s closest advisers that the potential for unrest had reached unprecedented levels.
  • way out was to come to an agreement with the West that would end the sanctions, allow Libya to refurbish an aging oil infrastructure, and provide a safety valve by permitting Libyans to travel abroad once more.
  • intent to renounce weapons of mass destruction in December 2003—after a long process of behind-the-scenes diplomacy initially spearheaded by Britain
  • “The Revolution Everlasting” was one of the enduring slogans of his Libya, inscribed everywhere from bridges to water bottles.
  • regime that had, for four decades, mismanaged the country’s economy and humiliated its citizens
  • country was split in half, with eastern Cyrenaica and its main city Benghazi effectively independent—a demonstration of the kind of people’s power Gaddafi had always advocated. Reality, in effect, outgrew the caricature.
  • used a set of divide-and-rule policies that not only kept his opponents sundered from each other, but had also completely enfeebled any social or political institution in the country.
  • Beyond Gaddafi, there exists only a great political emptiness, a void that Libya somehow will need to fill.
  • the creation of a modern state where Libyans become true citizens, with all the rights and duties this entails.
  • the terrorist incidents
  • Regimes can use oil revenues strategically to provide patronage that effectively keeps them in power.
  • allieggg on 12 Nov 14
     
    This article from News Week basically paints a picture of Libyan history and how Gaddafi's reign devastated the state economically, socially, and politically. Author Dirk Vandewalle uses the phrase "a political tabula rasa" which in Latin means a blank slate, to describe the fate of Libya after Gaddafi's rule and convey the extent to which the country has to literally reconstruct every component that makes up a society and its government. He highlights major events that led to the downfall of both the Gaddafi regime and the Libyan state as a whole such as Arab nationalism, Jamahiriya, the Green Book, security apparatuses snuffing all opposition, terrorist incidents, isolation and international sanctions, the Lockerbie bombing, weapons of mass destruction, human right violations, divide and rule policies, and his use of oil revenue to fuel his insurgency. Vandewalle concludes the article with uncertain ideas thoughts towards Libya's future and the way the state is going to literally rebuild themselves from this "blank slate" that Gaddafi left behind. 
wmulnea

BBC News - Falling oil prices: Who are the winners and losers? - 0 views

www.bbc.com/...business-29643612

shared by wmulnea on 13 Feb 15 - No Cached
  • The reasons for this change are twofold - weak demand in many countries due to insipid economic growth, coupled with surging US production. Added to this is the fact that the oil cartel Opec is determined not to cut production as a way to prop up prices.
  • Russia loses about $2bn in revenues for every dollar fall in the oil price,
  • Russia has confirmed it will not cut production to shore up oil prices.
  • ...12 more annotations...
  • Venezuela is one of the world's largest oil exporters, but thanks to economic mismanagement it was already finding it difficult to pay its way even before the oil price started falling.
  • Saudi Arabia, the world's largest oil exporter and Opec's most influential member, could support global oil prices by cutting back its own production, but there is little sign it wants to do this.
  • There could be two reasons - to try to instil some discipline among fellow Opec oil producers, and perhaps to put the US's burgeoning shale oil and gas industry under pressure.
  • Saudi Arabia needs oil prices to be around $85 in the longer term, it has deep pockets with a reserve fund of some $700bn - so can withstand lower prices for some time.
  • were to force some higher cost producers
  • In the 1980s the country did cut production significantly in a bid to boost prices, but it had little effect and it also badly affected the Saudi economy.
  • Saudi Arabia, Gulf producers such as the United Arab Emirates and Kuwait have also amassed considerable foreign currency reserves, which means that they could run deficits for several years if necessary.
  • Islamic State, capturing oil wells. It is estimated it is making about $3m a day through black market sales - and undercutting market prices by selling at a significant discount - around $30-60 a barrel.
  • "The growth of oil production in North America, particularly in the US, has been staggering," says Columbia University's Jason Bordoff.
  • It has been this growth in US energy production, where gas and oil is extracted from shale formations using hydraulic fracturing or fracking, that has been one of the main drivers of lower oil prices.
  • "Shale has essentially severed the linkage between geopolitical turmoil in the Middle East, and oil price and equities," says Seth Kleinman, head of energy strategy at Citi.
  • With Europe's flagging economies characterised by low inflation and weak growth, any benefits of lower prices would be welcomed by beleaguered governments. A 10% fall in oil prices should lead to a 0.1% increase in economic output, say some. In general consumers benefit through lower energy prices, but eventually low oil prices do erode the conditions that brought them about.
aavenda2

Saudi economic reforms must focus on efficiency - minister - 0 views

uk.reuters.com/...-economy-idUKKBN0KZ1P720150126

Saudi Arabia Economy

shared by aavenda2 on 09 Feb 15 - No Cached
  • aavenda2 on 09 Feb 15
     
    This article focuses on the economic weakness that Saudi Arabia faces with its current and future workforce. Mainly focusing on the youth and future workforce of the country. "If you talk to young people now, most of them want to be entrepreneurs." Said Muhammad al-Jasser at the opening ceremony of the Euromoney Conference in Riyadh
kbrisba

Man shot dead by police in Tunisia protest: witnesses - 0 views

www.reuters.com/...protests-idUSKBN0LC0S320150208

shared by kbrisba on 09 Feb 15 - No Cached
  • kbrisba on 09 Feb 15
     
    A man was shot dead on Sunday during a protest over the economy in Tunisia. Protests have been over taxes imposed on local traders, with residents demanding more opportunities and jobs. Witnesses said police fired bullets and tear gas to disperse crowds.
kbrisba

Public Information Notice: IMF Executive Board Concludes 2012 Article IV Consultation with Tunisia - 0 views

www.imf.org/...pn1296.htm

shared by kbrisba on 20 Feb 15 - No Cached
  • kbrisba on 20 Feb 15
     
    In 2012 there were signs of rebound from the recession in 2011. The GDP increased by 4.8 percent, tourism and FDI started picking up in the first quarter. Exporting for Tunisia would not be as strong because of the recession in Europe. Achieving higher growth will reduce high unemployment. Directors saw a need to support economic activity while safeguarding macroeconomic stability. Directors considered that structural reforms are needed to reorient the Tunisian economy and harness its potential for higher and more inclusive growth.
wmulnea

The new economics of oil: Sheikhs v shale | The Economist - 0 views

www.economist.com/...es-will-go-bust-market-will-be

shared by wmulnea on 23 Feb 15 - No Cached
  • The contest between the shalemen and the sheikhs has tipped the world from a shortage of oil to a surplus.
  • Big importing countries such as the euro area, India, Japan and Turkey are enjoying especially big windfalls. Since this money is likely to be spent rather than stashed in a sovereign-wealth fund, global GDP should rise.
  • There will, of course, be losers (see article). Oil-producing countries whose budgets depend on high prices are in particular trouble. The rouble tumbled this week as Russia’s prospects darkened further. Nigeria has been forced to raise interest rates and devalue the naira. Venezuela looks ever closer to defaulting on its debt
  • ...1 more annotation...
  • But Saudi Arabia, in particular, seems mindful of the experience of the 1970s, when a big leap in the price prompted huge investments in new fields, leading to a decade-long glut.
  • wmulnea on 23 Feb 15
     
    This article suggests that increased shale oil production is changing the economy of oil, but at the same time Saudi Arabia is reluctant to slow OPEC production.
jsawin

Four Things You Need to Know about Women, Work and the Economy - YouTube - 0 views

www.youtube.com/watch

things know economy youtube

shared by jsawin on 23 Feb 15 - No Cached
  • jsawin on 23 Feb 15
     
    When women participate in the workforce at the same rate as men, countries can see significant gains in GDP. For example, Egypt could see gains of 34% if women participate equally with men.
kbrisba

Terror in Tunisia deals fresh blow to tourism | The National - 0 views

www.thenational.ae/...ia-deals-fresh-blow-to-tourism

shared by kbrisba on 06 Apr 15 - No Cached
  • kbrisba on 06 Apr 15
     
    Since the attack on the Bardo museum 3,000 holidays cancellations have been reported, reservations have decreased 60 percent. Seven cruise lines have dropped Tunis from their itineraries and some charter airlines flying in Russian, Czech and Polish tourists have already cancelled flights. Tourism is a huge part of Tunisia's economy. Last year tourists topped 6 million, 2010 tourism industry represented 17 percent of GDP.
kbrisba

As the Middle East's newest democracy, Tunisia can take economic lessons from Turkey | GlobalPost - 0 views

www.globalpost.com/...n-take-economic-lessons-turkey

shared by kbrisba on 19 Apr 15 - No Cached
  • kbrisba on 19 Apr 15
     
    Fours years after the Arab Spring, Tunisia is arguably the region's strongest democratic success story. Economic growth is still slow to develop, recognizing this lag, Tunisia has announced it will launch an emergency economic plan. Tunisia is moving in the right direction but for a long-term guide they should look to their neighboring democracy, Turkey. There is two lessons Tunisia should take away from Turkey: integration into the global economy and inclusion of the rich and poor.
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