Crashing economies and unprecedented austerity. Can the gulf region survive this season of rock bottom oil prices? TRT World speaks to Sultan Sooud Al Qassemi about the Gulf economies and the TPP agreement. Read more »
Economy
The Gulf’s New Social Contract
To cope with the loss in oil revenue, most GCC states have introduced indirect taxation, including municipal and road taxes, and have openly discussed the introduction of Value Added Tax in the near future. The traditional Gulf social contract has never been more fragile, and attempts to drastically rewrite it by GCC governments no doubt comes with its risks. Taxation in exchange for ensuring the security of citizens in an increasingly dangerous neighborhood might be the new accepted social contract, but Gulf states should tread carefully nonetheless. Read more »
Economic Integration can Ease Regional Tensions
The New Year has seen relations in the region spiral out of control with Saudi Arabia cutting off diplomatic ties with the Islamic Republic of Iran. Sectarian tensions mounted following the execution of prominent Saudi Shi’a cleric Nimr al-Nimr and the subsequent attack on the Saudi embassy in Tehran. With a resurgent Iran, emboldened by the lifting of sanctions and the recognition of global powers of its nuclear program, and a young, ambitious leadership in Saudi Arabia, it is likely that such diplomatic stand-offs will be a common occurrence in the near future. Read more »
Prospects for More Dubai Bailouts
Sultan Sooud Al Qassemi talks with Bloomberg’s Margaret Brennan about Abu Dhabi’s agreement to provide $10 billion to help Dubai World avoid defaulting on a $4.1 billion bond payment, and the prospects for additional bailouts in Dubai. Read more »
Entrepreneurial Arabs Will Make It Better For The Next Generation
The first few days of November have quickly become known as Entrepreneurship Week in Dubai. The Dubai School of Government kicked off the week with a panel on women’s entrepreneurship in the Gulf, featuring leading businesswomen from Abu Dhabi, Dubai and the region. The next day at the Young Arab Leaders Entrepreneurship Summit, cross-generational leadership was represented, with Sheikh Mohammed bin Rashid, the Prime Minister and Ruler of Dubai, and his son Crown Prince Sheikh Hamdan attending. Read more »
Abraaj Celebration of Entrepreneurship: Removing the Stigma of Failure
In 2010, Sultan Al Qassemi speaks on a panel at a youth summit designed to instill the spirit of entrepreneurship in young Arabs. Read more »