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| GCC Expansion Plan |
 THE
proposal to enlarge the Gulf Cooperation Council to Jordan and
Morocco, made at a council summit meeting in Riyadh last month,
marks a profound change in the nature of the organisation as
it reaches its 30th anniversary. This decision, which went practically
unnoticed in the West, is all the more worthy of attention in
that it is likely to usher in long-term changes in the region´s
political scenario. Initially set up to provide a safeguard
against an Iranian military threat and to create regional economic
integration in the Arabian peninsula, the Gulf Cooperation Council
has moved away from its early... |
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| LESSONS FOR CHINA FROM ARAB SPRING |
 FROM:
Ministry of State S e c u r i t y TO: President Hu Jintao SUBJECT:
The Arab Spring Dear President Hu: You asked for our assessment
of the Arab Spring. Our conclusion is that the revolutions in
the Arab world contain some important lessons for the rule of
the Chinese Communist Party, because what this contagion reveals
is something very new about revolutions unfolding in the 21st
century and something very old about why they explode. Let´s
start with the new. Sometime around the year 2000, the world
achieved a very high level of connectivity, virtually flattening
the global economic. |
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 | Saudi Arabia, Iran may
clash at OPEC meeting SAUDI Arabia and its Gulf Arab allies may struggle to push through more than a cosmetic increase in oil supplies at a meeting of the OPEC cartel this week. Worried that crude prices near $115 a barrel are undermining economic growth, Gulf producers...
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| | IATA halves airline profit
outlook for 2011 to $4bn |
 IATA
ON Monday halved its profit forecast
for the airline industry to $4 billion
in 2011 due to the March 11 tsunami
in Japan, unrest in the Middle East
and North Africa and high oil prices.
"That we are making any money at all
in a year with this combination of unprecedented
shocks is a result of a very fragile
balance," International Air Transport
Association (IATA) director-general
Giovanni Bisignani said. "Natural disasters
in Japan, unrest in the Middle East
and Africa, plus the sharp rise in oil
prices have slashed industry profit
expectations to $4 billion this year,"
he said at IATA´s annual general meeting,
which is being held in Singapore this
week... |
| | RBI sees no
stress on
liquidity in
short term |
 THE
Reserve Bank of India is closely monitoring
liquidity in the banking system and
does not see any sign of stress as of
now, going by the current call rates,
one of its deputy governors said on
Monday. Shyamala Gopinath was responding
to a query on whether the Reserve Bank
of India (RBI) would conduct open market
operations to tide over an expected
cash crunch in mid-June, when quarterly
advance tax payments by corporates would
fall due. "We are closely monitoring
the liquidity situation and looking
into various aspects of liquidity management.
As of now, we don´t really see a stress
as such if you look at the call rates."
The interbank call money... |
| | Gold benefits from
safe-haven demand |  GOLDrose for a second day on
Monday, drawing strength
from investor concerns over
the outlook for US growth
after Friday´s surprisingly
weak employment data and a
decline in the dollar to onemonth
lows.
US employers hired the
fewest number of workers in
eight months in May and the
unemployment rate rose to
9.1 percent, stoking worries
that economic growth may be
faltering and supporting sentiment
in gold, which is seen
as a safe-haven investment
during times of economic
uncertainty. Spot gold edged
up 0.1 percent to $1,543.49
an ounce by 0945 GMT,
building on three consecutive
weeks of gains. weeks of gains.
US gold rose 0.2 percent to
$1,544.80... | |
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