World Bank president to skip Riyadh conference | Financial Times:
Jim Yong Kim, the president of the World Bank, has pulled out of a high profile conference in Saudi Arabia which has suffered a number of defections after the disappearance of Saudi journalist Jamal Khashoggi.
“President Kim has previously informed the Saudi authorities that he will not be attending the Future Investment Initiative,” a World Bank official said on Friday.
Mr Kim was still listed as a “confirmed speaker” on the website of the FII on Friday. The World Bank would not comment on whether Mr Kim had decided to withdraw from the event before or after Mr Khashoggi’s disappearance from the Saudi consulate in Turkey on October 2.
Friday, 12 October 2018
Trump Caution on Missing Writer Risks Giving Saudis Green Light - Bloomberg
Trump Caution on Missing Writer Risks Giving Saudis Green Light - Bloomberg:
President Donald Trump’s reluctance to impose consequences against Saudi Arabia over the disappearance of Jamal Khashoggi has fed criticism that his administration could be letting the kingdom get away with murder.
Khashoggi, a Saudi dissident who wrote for the Washington Post, hasn’t been seen since he entered the Saudi consulate in Istanbul on Oct. 2 to pick up a document for his upcoming wedding. Turkish officials have said they believe he was killed inside and perhaps even dismembered.
Trump said Thursday he’s disinclined to block arm sales to the Saudi government, as senators in his own party have suggested. He said there are “other things we could do” if the gruesome allegations prove true, without elaborating.
President Donald Trump’s reluctance to impose consequences against Saudi Arabia over the disappearance of Jamal Khashoggi has fed criticism that his administration could be letting the kingdom get away with murder.
Khashoggi, a Saudi dissident who wrote for the Washington Post, hasn’t been seen since he entered the Saudi consulate in Istanbul on Oct. 2 to pick up a document for his upcoming wedding. Turkish officials have said they believe he was killed inside and perhaps even dismembered.
Trump said Thursday he’s disinclined to block arm sales to the Saudi government, as senators in his own party have suggested. He said there are “other things we could do” if the gruesome allegations prove true, without elaborating.
Saudi Arabia’s Troubled Revolution - Bloomberg
Saudi Arabia’s Troubled Revolution - Bloomberg: When Crown Prince Mohammed bin Salman rose to power in Saudi Arabia in March 2015, he was eager to establish a global image as a radical reformer. “Are you leading a Thatcher Revolution for Saudi Arabia,” he was asked in early 2016. His answer: “Most certainly.”
Almost three years on, in a lengthy late-night interview on Oct. 3 with Bloomberg, the heir to the Saudi throne—known as MBS—insists he still wants to transform his country. But it’s increasingly clear it will be change on his terms. If there’s a model the Saudi leader is following, it’s not Thatcher or even Mikhail Gorbachev. It’s more a combination of Xi Jinping and Vladimir Putin.
Although Saudi Arabia has changed under the 33-year-old’s leadership, the outside environment has as well. The more than doubling of oil prices—from about $40 when he took over to $82 a barrel—has made the country’s economic challenges feel less urgent. Thanks to the change of management at the White House, the pressure to adhere to basic norms of international conduct has also eased. Both of those developments have made it easier for the regime to behave in a way that’s outraged human rights activists and onetime allies such as Canada and Germany and left the local and international business community more than a little perplexed.
Almost three years on, in a lengthy late-night interview on Oct. 3 with Bloomberg, the heir to the Saudi throne—known as MBS—insists he still wants to transform his country. But it’s increasingly clear it will be change on his terms. If there’s a model the Saudi leader is following, it’s not Thatcher or even Mikhail Gorbachev. It’s more a combination of Xi Jinping and Vladimir Putin.
Although Saudi Arabia has changed under the 33-year-old’s leadership, the outside environment has as well. The more than doubling of oil prices—from about $40 when he took over to $82 a barrel—has made the country’s economic challenges feel less urgent. Thanks to the change of management at the White House, the pressure to adhere to basic norms of international conduct has also eased. Both of those developments have made it easier for the regime to behave in a way that’s outraged human rights activists and onetime allies such as Canada and Germany and left the local and international business community more than a little perplexed.
Oil rebounds to $81, pares gain as IEA sees adequate supply | Reuters
Oil rebounds to $81, pares gain as IEA sees adequate supply | Reuters:
Oil rose to $81 a barrel on Friday, rebounding after two days of declines, though prices pared gains after another closely watched forecaster deemed supply adequate and the outlook for demand weakening.
Crude was still heading for its first weekly drop in five weeks, pressured by a big rise in U.S. inventories and fading concerns that looming U.S. sanctions on Iran will cut supplies significantly. [EIA/S]
A monthly report by the International Energy Agency (IEA) said the oil market looked “adequately supplied for now” after a big rise in production and trimmed its forecasts for world oil demand growth this year and next.
Oil rose to $81 a barrel on Friday, rebounding after two days of declines, though prices pared gains after another closely watched forecaster deemed supply adequate and the outlook for demand weakening.
Crude was still heading for its first weekly drop in five weeks, pressured by a big rise in U.S. inventories and fading concerns that looming U.S. sanctions on Iran will cut supplies significantly. [EIA/S]
A monthly report by the International Energy Agency (IEA) said the oil market looked “adequately supplied for now” after a big rise in production and trimmed its forecasts for world oil demand growth this year and next.
Saudi crown prince's carefully managed rise hides dark side
Saudi crown prince's carefully managed rise hides dark side:
In a kingdom once ruled by an ever-aging rotation of elderly monarchs, Saudi Crown Prince Mohammed bin Salman stands out as the youthful face of a youthful nation. But behind the carefully calibrated public-relations campaign pushing images of the smiling prince meeting with the world’s top leaders and business executives lurks a darker side.
Last year, at age 31, Mohammed became the kingdom’s crown prince, next in line to the throne now held by his octogenarian father, King Salman. While pushing for women to drive, he has overseen the arrest of women’s rights activists. While calling for foreign investment, he has imprisoned businessmen, royals and others in a crackdown on corruption that soon resembled a shakedown of the kingdom’s most powerful people.
As Saudi defense minister from the age of 29, he pursued a war in Yemen against Shiite rebels that began a month after he took the helm and wears on today.
In a kingdom once ruled by an ever-aging rotation of elderly monarchs, Saudi Crown Prince Mohammed bin Salman stands out as the youthful face of a youthful nation. But behind the carefully calibrated public-relations campaign pushing images of the smiling prince meeting with the world’s top leaders and business executives lurks a darker side.
Last year, at age 31, Mohammed became the kingdom’s crown prince, next in line to the throne now held by his octogenarian father, King Salman. While pushing for women to drive, he has overseen the arrest of women’s rights activists. While calling for foreign investment, he has imprisoned businessmen, royals and others in a crackdown on corruption that soon resembled a shakedown of the kingdom’s most powerful people.
As Saudi defense minister from the age of 29, he pursued a war in Yemen against Shiite rebels that began a month after he took the helm and wears on today.
World oil market 'adequately supplied for now': IEA | Reuters
World oil market 'adequately supplied for now': IEA | Reuters:
Oil markets look “adequately supplied for now” after a big production increase in the last six months, but the industry is coming under strain, the West’s energy watchdog said on Friday.
The International Energy Agency said in its monthly report that the world’s spare oil production capacity was down to 2 percent of global demand, with further falls likely.
“This strain could be with us for some time and it will likely be accompanied by higher prices, however much we regret them and their potential negative impact on the global economy,” the Paris-based organization said.
Oil markets look “adequately supplied for now” after a big production increase in the last six months, but the industry is coming under strain, the West’s energy watchdog said on Friday.
The International Energy Agency said in its monthly report that the world’s spare oil production capacity was down to 2 percent of global demand, with further falls likely.
“This strain could be with us for some time and it will likely be accompanied by higher prices, however much we regret them and their potential negative impact on the global economy,” the Paris-based organization said.
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