Interpreting Middle East Economic News and Analyzing Market Trends

Category: News

Tensions heat up in the Gulf as UAE, Saudi Arabia and Bahrain recall their ambassadors from Qatar

GCC Meeting in Riyadh March 2014

The smiles are for the camera only!

Tensions are once again heating up in the Gulf.  This time Bahrain, Saudi Arabia and the UAE are ganging up on the Qatar.  Rising tension is not new, what is new is the fact that other GCC members are tired of Qatar stepping out of line and not following the prescribed protocol.

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Kuwait’s dysfunctional parliament is at it again, this time attempting to kill Airbus deal with Kuwait Airways

Kuwait Airways

Kuwait can’t seem to catch a break.  Every time a major project or deal is announced, the Gulf’s only elected officials step in to mess it up… all in the name if protecting the country.  This time, parliament is sticking its feet in the mud again by getting involved in the $4.4 billion Airbus deal to sell 25 aircraft to Kuwait Airways.

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In a classic case of ‘solutions create more problems,’ Kuwait MP submits plan to control growing number of expats to ‘solve the country’s problems’

Kuwait Deports ExpatsSource: Arab Times

It’s another day in Kuwait, which means it’s another day where an MP comes up with a hair-brained idea to solve a problem.  This time, an MP has come up with a solution to solve rising unemployment, crime rates, rents and traffic jams.  The one solution to solve all of these problems; get rid of some expats.

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Syrian chemical weapons to be dumped in Mediterranean between Greece and Malta with very little protest

Syrian_chemical_weapons_disposal_BBC

Source: BBC News

 

Fourteen countries are helping remove, destroy and dispose of Syria’s massive chemical weapons stockpile, yet none of these countries could agree on where to dispose of the final product.  The solution; dump them in the Mediterranean…

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Saudi Arabia establishes unemployment insurance to tackle persistent unemployment problem

Crown-Prince-UnemploymentPhoto courtesy of Arab News

In an attempt to start the new year running, Saudi Arabia decided to introduce unemployment insurance to help address the stubbornly high unemployment problem in the country.  The plan calls for both workers and employers to contribute to the scheme, which will payout a percentage of salary in the event workers become unemployed.  The plan has a lot of similarities to unemployment insurance in the US.  Proponents of the plan say that it will provide job security to over a million Saudis.  Opponents don’t see how this will solve the key issues of unemployment, which are structural.

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