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The Institute of West-Asian and African Studies at the Chinese Academy of Social Sciences, one of the most prestigious research institutions in China, released at the end of last month its annual report on development in the Middle East, the Yellow Book. → Read More
When the Communist Party of China convenes in Beijing this week for its 19th national congress, all eyes will be on a leader described on the current cover of The Economist magazine as the most powerful man in the world. Xi Jinping will be confirmed for a second five-year term as president, strengthening his status as one of the most influential Chinese leaders since the establishment of the… → Read More
India and Saudi Arabia are working on elevating their relationship to a new level as the Kingdom’s state-owned oil giant Saudi Aramco has “mega investment” plans in India’s energy sector. → Read More
King Salman’s current visit to Moscow — the first such trip by a sitting Saudi monarch — marks a turning point in relations between the two countries. The king’s agenda in his meeting with Russian President Vladimir Putin was full of important issues, ranging from stabilizing international oil markets to a political settlement in Syria. The most significant development was however the signing… → Read More
Competition among ports in Gulf Cooperation Council (GCC) countries is expected to heat up as operators chase larger shares of the region’s growing logistics sector. Some estimates project that total GCC port throughput will grow to 35 twenty-foot equivalent unit (TEUs) by 2020, with more than $36 billion of investments committed for greenfield schemes and port expansions. → Read More
The occupied Palestinian territories last year witnessed deteriorating humanitarian conditions, decreasing donor support and the continuation of restrictive measures imposed under Israeli occupation, according to a UN report published on Tuesday. The UN Conference on Trade and Development (UNCTAD) report paints a bleak picture of the Palestinian economy. → Read More
Privatization may be broadly defined as the full or partial sale by a government of state-owned enterprises (SOEs) or assets to private operators. However, privatization should be understood in its broadest sense as a transfer of assets from the state to the private sector, coupled with a radical process to reallocate productive resources, restructure the existing institutional framework in… → Read More
Saudi Arabia is redrafting its main reform plan just over a year after its launch, by “stripping out some areas earmarked for change and extending the timeline of other targets,” according to a Saudi internal document seen by the Financial Times. The Kingdom will also “change existing initiatives and add new ones.” → Read More
Economic diversification is defined by the UN as a strategy to transform the economy from one source of income to multiple sources across different sectors, and with the participation of large segments of the population. → Read More
The visit to Saudi Arabia this week by Zhang Gaoli, the first-ranked Vice Premier of China, suggests that ties between Riyadh and Beijing are likely to develop to higher levels. “My visit this time is to implement the important consensus reached between President Xi and the King so as to continuously deepen the Chinese-Saudi comprehensive strategic partnership,” Zhang said. → Read More
Algeria’s president, Abdelaziz Bouteflika, last week dismissed Abdelmadjid Tebboune as prime minister, less than three months after his appointment. The president gave no reason for the change, but several Algerian experts noted that Tebboune had become embroiled in a bitter conflict with the so-called “economic cartel” allied with the president’s younger brother, Said Bouteflika. → Read More
The people of Iraqi Kurdistan will vote next month in a referendum on whether to remain part of Iraq, or choose the independent state that has been the dream of every Kurdish nationalist movement since the breakup of the Ottoman empire a century ago. → Read More
The decision by four Arab states — Saudi Arabia, the UAE, Bahrain and Egypt — to cut ties with Qatar may have ramifications on India. For now, these will be mostly concentrated in the diplomatic sphere; however, pressure on New Delhi to pick sides is likely to grow as the Gulf crisis deepens. → Read More
THE UN Conference on Trade and Development (UNCTAD) on June 7 released its annual flagship investment report entitled “World Investment Report 2017: Investment and the Digital Economy.” The 252-page report finds that investment policing is becoming more complex, divergent and uncertain. To reduce uncertainty and improve the stability of investment relations, the UNCTAD suggests a rules-based… → Read More
Iran might be boasting the world’s fourth-largest proven oil reserves and the second-largest natural gas deposits but its energy sector, hampered by years of mismanagement, sanctions and lack of advanced technology, is in dire need of new international investments. → Read More
US crude imports from the Middle East are shrinking due to the shale boom. This, in addition to American budgetary constraints and President Donald Trump’s famous “America First” slogan, has prompted some to argue that the US will reduce its military presence in the region or disengage from it entirely. But it is highly unlikely that the US will completely disengage, at least in the short- and… → Read More
Four years ago, Chinese President Xi Jinping proposed his ambitious plan “One Belt, One Road” (OBOR), or the “Belt and Road Initiative,” which comprises the land-based Silk Road Economic Belt and the 21st Century Maritime Silk Road. According to the Chinese map, the belt aims to link China, Central Asia, Russia and Europe via railroads, highways and pipelines. The Maritime Silk Road is a trade… → Read More
Over the past few years, tension has been mounting on the Korean Peninsula and has escalated since Donald Trump took over as the US president. The new US administration has pushed North Korea’s nuclear issue to the top of its foreign policy agenda and declared that the era of “strategic patience” with Pyongyang is over. → Read More
US President Donald Trump this week hosted Chinese President Xi Jinping at Mar-a-Lago, his Florida resort. The talks between the leaders of world’s two largest economies surely touched on economic and security issues, but alongside the North Korea issue, trade likely topped the agenda. → Read More
LONDON: European and Israeli governments gave the go-ahead Monday for a Mediterranean pipeline to carry natural gas from Israel to Europe, with a completion target of 2025. The planned 2,000-km (1,248-mile) pipeline aims to link gas fields off the coasts of Israel and Cyprus with Greece and possibly Italy, at a cost of up to $6.4 billion. “This is going to be the longest and deepest sub-sea gas… → Read More