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Issue 828 - 2 May 2008

Headlines

UAE tough on migrants, shows business limits to compassion

At a time of moves across the GCC towards improving the treatment of foreign labour, the UAE assembly’s new proposals grate harshly. But they may reflect the reality of business-driven politics.

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India tries to protect workers from inflation, exploitation

With almost 5m citizens working as migrants in the Gulf countries, the government of India has been stepping up the pressure for better conditions and the respect of basic labour rights, notably in the United Arab Emirates.

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Kuwait says goodbye to Sheikh Saad

Final rallies in the run-up to Kuwait’s general election were cancelled as the country held three days of mourning to mark the death of former prime minister and crown prince Sheikh Saad Al-Abdullah Al-Salem Al-Sabah, who was briefly, head of state in January 2006.

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PM’s position strengthens as Maliki wins several rounds in fight against Sadr for the south

On the back of his violent march into the south, Nouri Al-Maliki’s adroit use of force has helped raise the premier from the political dead. By taking on heavyweight opponents the premier is altering the balance of forces in the south while building up his national power base to an extent that seemed inconceivable just one year ago.

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YEMEN: Exotic weapon, marginal effect

The 30 April indirect fire attack aimed at the Italian Embassy in Sanaa uncovered new evidence about the cell behind the spate of recent attacks, highlighting its military ineffectiveness and political focus in equal measure. GSN’s soundings suggest the exotic European mortar system involved was also used to attack the United States Embassy on 18 March.

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Jihadists’ escapee leader

The figure around which recent Yemeni jihadist activity seems to have coalesced is 27-year-old Qassem Yahya Mahdi Al-Raimi (Abu Hurayra Al-Sanaani), who left Afghanistan during the collapse of Taliban power in early 2002 and returned to fight in his native Yemen.

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With French deal, Abdallah’s National Guard strengthens its status as the ‘second Saudi army’

The purchase of up to 80 French self-propelled artillery systems underlines Sang’s evolution into a major conventional military force.

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Maliki moderation is the Kuwaiti state’s religious benchmark

Kuwaitis prepare to elect a new parliament on 17 May, with tensions rising in the wake of public rows over religious issues. However, the clear message was one of calm and restraint when senior officials with responsibility for religious affairs talked to GSN in Kuwait City.

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Regional ECAs come of age as non-oil exports take on greater importance

Oil-producing Middle East economies have started to report success in their longstanding efforts to diversify away from dependence on hydrocarbons exports. In a range of markets this trend has been encouraged by growing business for national and regional export credit agencies.

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ICIEC grows its business

The Islamic Development Bank’s Islamic Corporation for Insurance of Investment and Export Credit is the region’s biggest export insurance underwriter by volume; premiums and fees rose by a “healthy” 45% to $9.6m last year, director of underwriting Khemais El-Gazzah told GSN.

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IRAN: Ambitious EGFI leads growth in credit insurance

Export Guarantee Fund of Iran has set an official target that it will be insuring 10% of non-oil exports, equivalent to the average coverage provided by ECAs globally, by March 2015, when the government’s Fifth Five-Year Development Plan (FYDP) ends, according to country risk and international co-operation manager Arash Shahraini.

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OMAN: Growth story for credit insurance enthusiast

The credit limits issued by Export Credit Guarantee Agency (ECGA) to its constituency of Omani exporters increased by 13.7% in calendar 2007 to OR236.7m ($615m), up from OR208.2m in 2006.

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SAUDI ARABIA: Aramco bids for regional trading hub status

Imbued by its growing market strength, senior Saudi Aramco figures have been engaging in a bout of blue sky thinking about ways of making more capital out of the burgeoning hydrocarbons sector – with ambitions for increased activity as a regional player, as well as maintaining the parastatal’s traditional Saudi focus; and their thoughts are turning, once more, to trading.

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As Sultan convalesces, it’s time for a Saudi generational rethink

Crown Prince Sultan Bin Abdelaziz is up and about once more, back at his holiday palace in Agadir, Morocco.

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