Interpreting Middle East Economic News and Analyzing Market Trends

Category: News

What’s a better gauge of economic health; the stock market or global trade?

DP World

DP World, one of the world’s largest port operators reported a drop volume at its ports.  Stock markets are hitter new highs and stock markets in the region have risen too high too fast.  The Dubai Financial Market (DFM), for example, is up over 60% year-to-date.  So should we believe the stock market, which is telling us that all is well and the good times are here, or shall we believe global trade, which is saying things are slowing down?

 

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Kuwaitis hang on to hope after 6th parliament is elected in 6 years

Kuwait Election 2013

Kuwaitis elected their 6th parliament in six years in a special election, but then again, isn’t every election in Kuwait special?  Members of Parliament (MPs) can’t seem to hang on to power for more than a year.  It has been a deadbeat/lame-duck parliament since the Emir brought back democracy to the state after the 1990/91 Gulf War.  Will this time be different?

 

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Saudi water usage hits record

Saudi National Water

Water consumption in Saudi Arabia hit a new record and shows no sign of slowing down.  The government has expressed concern over this rise and plans on doing something about it.  Unfortunately, it will not do the right thing.

  

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ElBaradei, Egypt’s champion for democracy, couldn’t get elected in 2011 so jumps at chance to take on PM role (undemocratically of course)

  Mohamed ElBaradei, the former head of the International Atomic Energy Agency and Nobel Peace Prize laureate, lost the election in 2011 to Mohammed Morsi.  He has been a champion for democracy in Egypt during the Mubarak days and was spotted in Tahrir Square early on during the protest in 2011.  Since then, he’s gone on to search for a meaningful role to play in Egyptian politics.  Last week he thought he finally had his chance; the seat of Prime Minister was being offered to him.  However, there were a few bumps in the road…   

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Egyptians celebrate as democracy is taken away from them

Source: New York Times

 

Last night Egypt’s military kept its word and remove President Morsi and his Brotherhood party from office.  It was a swift military coup that saw the immediate removal of Egypt’s first democratically elected president in decades.  Egyptians cheered as the main thing they fought for during the revolution was taken away from them.   

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