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Issue 1064 - 03 August 2018

Iran struggles to control plunging rial

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The Iranian rial has hit record lows, dropping past IR113,000=$1 on 29 July and continuing to fall since then. Seasonal demand for foreign currency may be contributing to the slump in the rial’s value, but the main problem is looming US sanctions, which are due to take effect in two waves in early August and November. Locals are moving assets into hard currency, gold coins and other safe investments to protect their wealth.

Iran
Issue 918 - 22 March 2012

Iranian corruption scandals

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Confidence in the Iranian banking system has been damaged by the Amir Mansour Aria Group corruption scandal, which emerged last September when it was claimed that shadowy but well-connected businessman Amir-Mansour Kosravi (also known as Mah-Afarid Kosravi) had fraudulently acquired $2.8bn from leading local banks.

Iran
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Emir Sheikh Mishaal Al-Ahmed Al-Sabah travelled to Bahrain and Qatar in mid-February, following trips to Saudi Arabia and Oman earlier in the year. Mishaal has been using the trips to cement regional support for border disputes with Iraq and Iran – although there are signs that Doha is slightly less steadfast than some others over the Iran dispute.

Kuwait
Free

Oman's Sultan Haitham Bin Tariq Al-Said arrived back in Muscat, following a month-long visit to Europe. He has kept a low profile since his return, with no major official engagements.

Oman
Free

Amendments criticised for undoing all the gains in freedom of expression made under King Abdullah. The Kingdom has amended its Press and Publications Law of November 2000.

Saudi Arabia | Qatar
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In a flurry of several dozen royal orders on 22 April, King Salman Bin Abdelaziz turned back the clock on some key austerity measures while keeping an eye to the future with promotions for the younger generations of royals.A string of perks and payments removed under the austerity regime promoted by Deputy Crown Prince Mohammed Bin Salman (MBS) just a few months ago have been reinstated. King Salman also shook up the ranks of government and provincial administrations, setting the scene for the grandsons and great-grandsons of the country’s founder Ibn Saud to have a greater role.

Saudi Arabia
Issue 939 - 24 January 2013

Third-generation Saudi royals promoted

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The small world of Saudi-watchers pricked up its ears at the 14 January royal orders appointing new governors to the Eastern Province and Medina. The long-serving Sharqiyah‎ governor Prince Mohammed Bin Fahd was removed “upon his request”, and replaced by former Eastern Province deputy governor and ambassador to Spain Prince Saud Bin Nayef. In Medina, Prince Abdelaziz Bin Majid Bin Abdelaziz was relieved of his post (again apparently upon his request) and Prince Faisal Bin Salman Bin Abdelaziz appointed.

Saudi Arabia
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Regional elections are expected, with further delays: A polling day for the long-delayed sixth set of elections to the Kurdistan Parliament has yet to be announced. In August 2023, Kurdistan Region of Iraq (KRI) President Nechirvan Barzani issued a decree scheduling the elections for 25 February.

Iraq
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Following the 4 November arrest of some of the most celebrated members of the Saudi elite – including the dismissal and subsequent detention of Saudi Arabian National Guard (SANG) minister Prince Miteb Bin Abdullah Bin Abdelaziz – the Al-Salman clan, driven by Crown Prince Mohammed Bin Salman (MBS), has underlined its reputation for supporting its widely trumpeted claims to be enacting economic and social reform with an autocratic approach to politics. The list of those detained in the purge includes dozens of princes, ministers, officials and prominent businessmen, sufficient to cause tremors across the kingdom

Saudi Arabia
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UAE state minister for foreign affairs Sheikh Shakhbut Bin Nahyan Al-Nahyan has been on another African tour in January, visiting the capitals of Democratic Republic of Congo and Uganda, as well as Angola’s Cabinda province, as the UAE look to continue recent momentum for investments and wider engagement in Africa.

United Arab Emirates (UAE)
Issue 607 - 22 March 1999

The Changing of the Guard

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The death of Bahrain’s Emir, Sheikh Isa bin Salman Al Khalifah, on 6 March marked the start of a new era in Bahraini politics. Sheikh Isa’s death was however of wider relevance since his departure was a reminder of the mortality of the GCC’s other elderly rulers. In typical slow-motion fashion, power in the GCC states is passing from the founding fathers to the newer generation. Whether the new rulers will be able to cope with the complex demands of ruling their societies in a rapidly changing world remains to be seen.

Free

The UAE has set its sights on carving out a leading international role in artificial intelligence, with national security advisor Sheikh Tahnoun Bin Zayed Al-Nahyan and Abu Dhabi Crown Prince Khaled Bin Mohammed vying for national AI leadership – but the pursuit of the powerful technology is also causing friction with the US

United Arab Emirates (UAE)
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After Sheikh Mishaal Al-Ahmed Al-Sabah took exception to comments by a member of parliament about his inaugural speech as ruler in December, the emir issued a decree on 15 February to disband the National Assembly – meaning a fresh general election must be held by mid-April.

Kuwait
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The Doha International Maritime Defence Exhibition and Conference (Dimdex) featured a Russian naval vessel and Iranian anti-ship missiles, alongside western defence firms. Not only did Dimdex accommodate an unusual line-up of government participants, the organisers said a record number of contracts were signed

Qatar
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Huge art and archaeology projects say a lot about contemporary Saudi Arabia, as Crown Prince Mohammed Bin Salman (MBS) pushes ahead with ever-expanding ambitions to remodel the country's economy and society. Major cultural developments in the north-west are emerging as a hub, with big budgets drawing in international institutions, architects, artists and curators, but the changes also provide scope for significant local expression, including for female and younger artists – even as MBS' critics languish in prison, some facing death penalties.

Saudi Arabia