Saudi Arabia: What happens when the oil stops

In a post oil era, Mohammed bin Salman would lose his power of patronage but the collapse of Saudi economy is a bad news for the region.
Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS) can no longer plead youth or inexperience, that time has passed.
What you see is what you get. The misrule, blunders and war associated with him as crown prince will only continue with him as king.
The full repertoire of the crown prince’s statecraft was on display in a stormy telephone call he made to Russian President Vladimir Putin on the eve of an Opec meeting last month which ended in a calamitous price war between Saudi Arabia and Russia.

A big mistake
Mohammed bin Salman can see for himself just how big a mistake that call was. The price of oil has collapsed, storage will rapidly run out, and oil companies face the real prospect of having to cap wells. The oil and gas sector accounts for up to 50 percent of the kingdom’s gross domestic product and 70 percent of its export earnings. This has just disappeared. 

As anyone who has met Putin will tell you, you can bargain as hard as you like with the Russian president. You can even be on opposing sides of two regional wars, in Syria and Libya, and still maintain a working relationship, as the Turkish President Recep Tayyip Erdogan continues to do.

But what you must not do is back Putin into a corner. This is what the Saudi crown prince did by giving Putin ultimatums and shouting at him. Putin just shouts back, knowing that the Russian balance of payments is in better shape to play that game of poker than the Saudi one is.


MBS is finding out now how weak his cards are. To be fair, before he made that call, he took advice from someone as arrogant and unthinking as he is. US President Donald Trump’s son-in-law and Middle East advisor Jared Kushner listened to what the Saudi crown prince was about to do and did not object. Read Full Story

Why Princess Hend Al Qassimi of UAE is Angry with Hindu Radicals

"I'm sorry about the Islamophobia that is going on in India, but hatred is not welcome in my country," Princess Hend Al Qassimi said, in an interview with Arfa Khanum Sherwani.

The intelligentsia in India-friendly Gulf countries has been speaking out against Islamophobic tweets in India. The Organisation of Islamic Countries (OIC) has also issued a statement on growing Islamophobia in India.

Senior editor of The Wire Arfa Khanum Sherwani spoke with Princess Hend Al Qassimi, a member of the royal family of the United Arab Emirates, on why she decided to speak out about the state of affairs.

“This is how genocides are born. They first begin by hate that grows in the heart, comes to the tongue, and eventually turn into a genocide,” Princess Hend Al Qassimi said. “I’m sorry about the Islamophobia that is going on in India, but hatred is not welcome in my country.”

Gulf Countries and Hindu Radical Attacks on Muslims

Navdeep Suri a Distinguished Fellow & Director-CNED at ORF. Ex-Amb of India to UAE, Egypt & HC to Australia on the ongoing controversy.

A) UAE pro-actively promotes tolerance and celebrated 2109 as Year of Tolerance
B) Apart from allowing a major Hindu temple in Abu Dhabi, they are also building a Church, a Mosque and a Synagogue in the same compound.
C) UAE has strong laws against hate speech. This applies to derogatory remarks against ALL religions.
D) Ambassador to UAE Mr. Kapoor has alerted our Indian community
E) Hate speech emanating out of India is another matter. It provides fodder to those unhappy with India-UAE friendship.
F) UAE is a strategic partner - our 3rd largest trading partner, source of FDI, partner in energy security, home to 3.4 mn Indians who sent $17 bn in remittances to their families.
G) Bilateral ties are strong and will endure. But unnecessary controversy doesn’t help.

How A Middle Class Family Can Plan Finances During Corona Crisis

The coronavirus has taken its toll on society - both on the health of the common man and disruption of economic activity. And those working as consultants/in the gig economy along with small businesses/non-essential shops have been hit. In this rather difficult situation, a key question that pops up repeatedly - how does one plan finances during the crisis and the aftermath to meet both the short-term and long-term financial goals of a family?

The immediate requirement for middle class families in the short term is to draw up a budget - on one side, they need to take into account all their income streams - it could be salaries, gig income/consultancy income, rent from flat, government pension, interest from fixed deposits or government bonds, and dividends from companies etc. On the other side of the budget, they need to include their monthly expenses which typically includes groceries, school fees, rent or EMI for flat, mobile and electricity bills, costs related to running 2-and 4-wheelers, and medical expenses amongst others.

In the current scenario, most families across the country are grappling with a sudden loss of income which could be in the form of reduced/considerably curtailed salary/gig income/consultancy income. Also, for those families which rely on monthly rental income, they may experience hiccups, with tenants finding it difficult to pay rent during this pandemic.

As a result, an immediate financial planning requirement for most middle class families would be to review and curtail unnecessary/avoidable expenditure. For instance, in middle class families, one does find two or three cable TV connections in a home, and if practical, it could be reduced to just one. The above measure could result in savings of Rs 700 -1,000 per month. Source

Backlash Over "Islamophobia" Posts In India

Coronavirus - Indian Envoy's Tweet Amid Backlash Over "Islamophobia" Posts In India

The tweet came amid anger in Arab countries, including UAE and Kuwait, over instances of Muslims being targeted in India amid the COVID-19 crisis.

New Delhi: 

India and UAE share the values of non-discrimination on any grounds, the Indian ambassador to the country tweeted on Monday amid growing resentment in the Arab world over reports of Muslims being targeted in India over the coronavirus pandemic.

"India and UAE share the value of non-discrimination on any grounds. Discrimination is against our moral fabric and the Rule of law. Indian nationals in the UAE should always remember this," Ambassador Pavan Kapoor.

He quoted a tweet by Prime Minister Narendra Modi in which he had said, "COVID-19 does not see race, religion, colour, caste, creed, language or borders before striking. Our response and conduct thereafter should attach primacy to unity and brotherhood. We are in this together."

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