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The White House has been dropping hints in recent days about which issues will be included in the annual speech to the nation, and the president appears poised to focus on cybersecurity, terrorism and domestic civilian issues such as broadband Internet service, paid leave for federal workers and community college tuition.
But given the threat from falling oil prices, Mr Soussa said the government needed to broaden its revenue base, via means such as more taxation, rationalisation of social spending and wages, as well as transferring the onus of economic growth on to the private sector.
A Saudi man and his son pose for a photograph in front of camels in the Aleghan Heights, located some 1500 km northwest of the Saudi capital Riyadh in the Tabuk region, on January 10, 2015, after a heavy snow storm hit parts of the Middle East.
But Jean-Michel Saliba at Bank of America Merrill Lynch points out that the recent budget was based on an average oil price of $75 a barrel, which would produce a deficit of 9 per cent of GDP. If oil stays at $50 a barrel in 2015, the fiscal deficit would swell to about 20 per cent of GDP.
The decision by Binyamin Netanyahu to order the withholding of Palestinian tax revenues in response to Mahmoud Abbas’s application to join the international criminal court has been sharply criticised by Israel’s president and the US, as well as senior Palestinian figures.
Inevitably, the decision by Opec to “roll over” the existing 30m barrel a day production quota at its November meeting revived old debates about its relevance and importance in the market, especially in light of the growth in US tight oil, or shale output.
They may not be taking to public spaces any more, owing to the political and military crackdown on them, but it would be wrong to assume the Arab people, especially the young, are happy about the status quo. After all, they are more educated, entrepreneurial, cosmopolitan, and hyperconnected than any previous generation, and they will not become complacent while being subjected to bad policies.
The police chief in Afghanistan’s southern province of Kandahar has ordered his forces to attack Pakistani-based Tehrik-i-Taliban insurgents inside Pakistan, adding fuel to rising tensions along the countries’ shared border.
The Islamic State has come to Libya. The very sentence is enough to ring alarm bells that the fractured country—long neglected by Washington—is now a North African “colony” of the jihadist behemoth. A recent article in Newsweek claims that “Libya’s internal fighting could push [it] into the arms of the ever-opportunistic Islamic State.” But will it? And how can the United States prevent this from happening in a way that does not make things worse?
The Palestinian Authority (PA)'s chief negotiator Saeb Erekat said that he will meet U.S. Secretary of State John Kerry in London on Tuesday, a few days before the Palestinians are expected to push for a UN Security Council resolution to set a timetable to end Israeli occupation.
