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Showing posts from August, 2019

Protest: The King is dead, long live the king

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By James M. Dorsey A podcast version of this story is available on Soundcloud, Itunes , Spotify , Stitcher , TuneIn , Spreaker , Pocket Casts , Tumblr , and Patreon , Podbean and Castbox . Protest is back on the front burner. Protesters occupy streets in cities ranging from Hong Kong and Moscow to Khartoum and Algiers. They would likely do so in Srinagar, the capital of Indian-controlled Kashmir, were it not for unprecedented pre-emptive security measures . When protest is not on the streets, it is embedded in culture wars wracking countries like the United States , Germany and India that stem from the struggle between liberals and mainstream conservatives on one side of the divide and civilisationalists, populists, extreme nationalists and far-right wingers on the other. A clamour for transparent, accountable rule that delivers public goods and services is at the core of the protests even if some are framed as battles for environmental and economic is

Aramco’s IPO: A bell weather of Saudi balancing between East and West

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By James M. Dorsey A podcast version of this story is available on Soundcloud, Itunes , Spotify , Stitcher , TuneIn , Spreaker , Pocket Casts , Tumblr , Patreon , Podbean and Castbox . Saudi Arabia’s planned awarding of mandates for the management of an initial public offering (IPO) by its national oil company Aramco is likely to serve as a bell weather for how Riyadh balances its relations with the United States and China. In an early indication that Western financial institutions like Goldman Sachs may be losing their near monopoly, Saudi Arabia this week invited China’s biggest state-owned banks , Industrial & Commercial Bank of China Ltd (ICBC) and Bank of China Ltd to pitch alongside major US, European and other Asian underwriters for the mandate of what is expected to be the largest listing ever. Analysts took the invitation to Chinese institutions as a sign that Saudi Arabia was considering Hong Kong in addition to London, New York and Tokyo as p