Cornelia Meyer
Arab News
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Past articles by Cornelia:
Why US efforts to counter China’s tech advancements matter to the rest of the world
Nothing unites enemies more than a common foe. The US Senate proved that when it overwhelmingly passed a bill aimed to bolster technological and industrial capacity in the technology and innovation space by 68-32 votes. The sum allotted comes in just shy of a quarter of a trillion dollars. → Read More
Why the WTO and who runs it matters to GCC
The World Trade Organization (WTO) on Monday finally got its new boss. Ngozi Okonjo-Iweala is highly qualified for the job as a former deputy of the World Bank, two-time finance minister of Nigeria, and outgoing chair of Gavi, the global alliance created to enable access to coronavirus disease (COVID-19) vaccines for the developing world. The new director general – the first → Read More
The enduring luster of gold
In times of crisis and economic turmoil, investors flock to safe havens. The coronavirus disease (COVID-19) pandemic is no different. In early Monday’s Asian trading session, gold beat its previous record high in 2011, when it had reached $1,921.17. By mid-morning European time, it traded at $1,929.60 per ounce. → Read More
Thoughts on US shale space, global gas markets
On Sunday, Chesapeake Energy, the pioneer shale gas producer based in Oklahoma City, filed for Chapter 11 US (financial reorganization) bankruptcy protection. It would be wrong to draw too many conclusions from Chesapeake and the US shale space to gas markets in the rest of the world. Other than LNG (liquefied natural gas), gas markets are inherently local which is why one has → Read More
Reasons behind last week’s decline in oil prices
All good things come to an end. The oil rally stretched from the fatal week when West Texas Intermediate temporarily turned negative in April until the middle of last week. On June 5, Brent briefly pierced the $42 per barrel mark, reaching highs not seen since early March. → Read More
OPEC: It does what it says on the tin
Faced with an oil glut and a slowing economy, OPEC and its 10 allies (OPEC+) had agreed in their Dec. 6 -7 meetings to take 1.2 million barrels per day (bpd) out of the market. Oil did not react — initially briefly undershooting the $50 per barrel mark just before Christmas. The commodity has rallied since then by 7 percent, reaching $57.50 for Brent on Friday. It rose again → Read More
One belt, one road: Blessing or curse?
In 2013 he announced his “One Belt One Road” (OBOR) project. It is designed to revive the old trading routes of the silk road. The belt is the sea route emanating in China and weaving its way via southeast Asia, the Horn of Africa and the Suez Canal to Europe. The Road are several land routes connecting China to western Europe: One via Central Asia as well a Northern path via → Read More
NATO summit proved to be G-7 2.0
US President Donald Trump is on a visit to Europe. He met with NATO leaders and the military brass in Brussels, is visiting England — for consultations with Her Majesty’s government and tea with Queen Elizabeth II — and Scotland, for a round or two of golf. Then it is time for his long-awaited summit with Russian President Vladimir Putin. And, as always, where President Trump → Read More
At Chequers, another gambit in the Brexit chess game
British Prime Minister Theresa May managed on Friday to establish unity in her Cabinet over Brexit — for now at least. The two warring factions, Brexiteers and Remainers, had been at each other’s throats for months about Britain’s post-Brexit relationship with the European Union. → Read More
After G-7 fiasco, risk is on the rise
Asian markets seemed to shrug off the G-7 upset over the weekend in early trading, which seems to be counterintuitive — but this week alone will see several events that could result in increased geopolitical risk. → Read More
Boris fails to lift the fog on UK’s Brexit position
UK Foreign Secretary Boris Johnson this week gave a much-anticipated Brexit speech. It was part of a charm offensive by the UK government aimed at trying to explain its position on its EU departure. Other ministerial addresses will follow over the course of the next two weeks. → Read More
Boris fails to lift the fog on UK’s Brexit position
UK Foreign Secretary Boris Johnson this week gave a much-anticipated Brexit speech. It was part of a charm offensive by the UK government aimed at trying to explain its position on its EU departure. Other ministerial addresses will follow over the course of the next two weeks. → Read More
Market unpredictability after oil price falls
The last two weeks have seen turmoil in the markets, which have also not been kind to oil. The price of Brent fell by 8.5 percent, while US West Texas Intermediate (WTI) dropped a whopping 9.5 percent. This was the biggest weekly decline since early 2016. The price has recovered somewhat and Brent was trading at $62 per barrel on Tuesday. The price might have looked a little frothy given that… → Read More
Germany’s hard slog to form a government
After negotiations over five days and one long night, the three party leaders of Germany’s Christian Democrats (CDU), their Bavarian sister party the Christian Socialists (CSU) and the Social Democrats (SPD) gave a long awaited press conference on Friday morning, when they were finally able announce a tentative common agenda for engaging in actual coalition negotiations. → Read More
Why Trump’s oil and gas move is not the only game in town
The oil price reached highs not seen since 2014 when Brent hit $70 this week. The price rise came against the backdrop of a harsh winter in the US and the production cuts of OPEC and non-OPEC producers. Consecutive weekly draw-downs in US stocks of 12.3 million barrels per day (bpd) over the past two weeks as well as questions over the outlook of US shale production in the medium term also… → Read More
Daring Macron plans to lead European reform
In May last year, Emmanuel Macron became president of France, bursting on to the scene from relative obscurity, with a background as an investment banker and as economic minister for former President Francois Hollande. Not only did he put himself center stage, he also managed to form a party, La Republique En Marche!, from scratch and win a majority in parliament. Much of Europe breathed a sigh… → Read More
Defending free trade as the US shuts the door
According to the forecasts of the International Monetary Fund (IMF), the world economy is set to grow by 3.7 percent in 2018. Europe, the emerging markets and US are all set for prosperity. There are a few laggards like the UK, thanks to the impact of Brexit. But the wider picture looks as rosy as it has since the onset of the financial crisis. → Read More
How Catalan voters gave Spain another headache
The voters of the Spanish region of Catalonia went to the polls last week to elect a new regional parliament. The vote took place against the backdrop of high drama that had unfolded since the regional president of Catalonia, Carles Puigdemont, held an independence vote on October 1. → Read More
Ebb and flow: 2017 in oil – and what's ahead
This year the Saudi and Russian energy ministers Khalid Al-Falih and Alexander Novak took a leaf out of former CEO of General Electric Jack Welch’s book, “Control Your Destiny or Someone Else Will.” In December 2016 the 14 member states of OPEC and 10 non-OPEC nations decided to cut their production by 1.8 million barrels per day (bpd). Naysayers believed that there would be insufficient… → Read More
The hard part has just begun, and British business needs clarity
The European Council announced on Friday that “sufficient progress” had been made on the three Brexit divorce issues — the exit bill, citizens’ rights and Northern Ireland — for negotiations about a transition period and the future of the trading relationship between Britain and the EU to begin in the new year. The sighs of relief emanating from the UK’s business leaders could probably be heard… → Read More