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Week In Review
Ramadan 04, 1441 to Ramadan 10, 1441
(2020-04-27 to 2020-05-03)

In this section, Crescent International will highlight news and events that do not attract much media Attention. We will provide our brief analysis. Hyperlinked references will be provided for confirmation, corroboration and crediting purposes.

Ramadan 04, 14412020-04-27

Palestinian cartoon exposing the Saudis causes uproar

“Palestinian cartoonist’s caricature of an Arab man struggling amid the global oil crisis has caused outrage in Saudi Arabia and led to competing hashtags on social media regarding support for the Palestinian cause.” Mahmoud Abbas, a cartoonist based in Sweden, depicted an exasperated man being pursued by a tumbling barrel of oil. Abbas told Middle East Eye that “the purpose of the cartoon is to show the oil crisis and its impact on the Arab world and the Middle East region - as it relies heavily on oil as a primary source of income,” Middle East Eye (MEE) reported.

The cartoon was not received well by the pro-Saudi elements on Twitter who accused Palestinians of being ungrateful for Riyadh’s support of the Palestinian cause. This claim would be dismissed by most informed observers considering the well-known strategic alliance between the Saudi regime and the Zionist entity.

Courtesy: Middle East Eye

Ramadan 04, 14412020-04-27

Saudi economy is going down the drain

Saudi investments outside of the energy sector are in shambles, a conclusion reached by a detailed analysis conducted by the Middle East Eye (MEE).

Most financial investments of the Saudi regime are currently declining due to the unprecedent blow delivered to the global economy.

The following data on the overall health of the Saudi economy by MEE analysis are important indicators to keep in mind;

  • On 23 January 2015, foreign reserves totaled $732bn. In December last year they had depleted to $499bn, a loss of $233bn in four years, according to the Saudi Arabian Monetary Authority (SAMA).
  • Sovereign funds are pooled by nation, UAE comes first with funds worth $1.213 trillion then Kuwait with $522bn, Qatar with the $328bn and Saudi PIF with $320bn.
  • PIF paid almost $49 a share for a stake in Uber Technologies Inc. in 2017. Uber shares have dived since. It sold almost of all its $2bn stake in Tesla toward the end of 2019, just before Tesla stock went through the roof, with an 80 percent rally this year.
  • The kingdom is spending one percent of GDP on supporting its economy during the lockdown, while Qatar is spending 5.5 percent, Bahrain 3.9, UAE 1.8.
  • PIF splashed another $1bn on stakes in four European oil companies and the Carnival cruise liner - all of which casts doubt on the strategy of PIF to diversify away from oil.

Courtesy: Middle East Eye  

Ramadan 04, 14412020-04-27

Turkey’s proxies in Syria fight each other

It appears that Turkey’s Washington strategy in Syria is facing another fiasco after reports of infighting emerge among Ankara backed militias.

Ahrar al-Sharqiya and the Mutassim Brigade, both Turkish-backed, began fighting each other. Al-monitor reported that “a Syria analyst at the Turkish think tank SETA said the fighting began when a division of the SNA from Deir ez-Zour farther south tried to take an area controlled by the Mutassim Brigade in Ras al-Ain. “Mutassim put up resistance and small clashes happened which ended very soon due to the interference of the military police of the SNA with Turkish backing.”

The incident once again highlights that Turkey will not be able to implement its strategy in Syria in a coherent manner and sooner or later will clash with its questionable allies.  

Courtesy: al-monitor.com  

Ramadan 04, 14412020-04-27

WHO officials in Tajikistan peddle the regime’s narrative

Some of Central Asia’s dictators gained notoriety for their gross mismanagement of the coronavirus crisis, outdone only by Donald Trump. If the regime in Turkmenistan was ridiculed and shamed for banning people from mentioning coronavirus, in Tajikistan it claimed to have zero coronavirus cases.

Until a few days ago, Dushanbe’s claim was just that, a claim by an autocratic system. However, on April 24, Eurasianet reported that “the World Health Organization in Tajikistan, where the government maintains it has recorded no cases of COVID-19 despite a mounting number of mysterious deaths, has declined to respond to queries from independent media, deepening concerns that the public is being deprived of clear and impartial information on a potential health crisis.”

Courtesy: Eurasianet.org

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