Saudi subsidy reforms unlikely to spark major protests

2016 ◽  
Keyword(s):  
Fuel Oil ◽  
Basic Part ◽  
Content Type ◽  
The Social ◽  
Political Impact ◽  
The Face ◽  
The Government ◽  
Crown Prince ◽  
Economic Outlook

Subject Political impact of subsidy reform. Significance Saudi Arabia introduced its first major cut to energy subsidies in January, leading to a rise in petrol, diesel, fuel oil, natural gas and electricity prices. Further cuts will be necessary to avert a fiscal crisis -- but with cheap energy seen as a basic part of the social contract between the government and the population, such measures are expected to have wide-reaching political repercussions. Impacts A decision to reverse subsidy cuts in the face of protest would undercut government credibility and reduce the prospect of further reforms. Yet persisting with subsidy reforms could damage government legitimacy and political capital among the youth and lower classes. Successful reforms will improve the long-term economic outlook, and the succession prospects of Deputy Crown Prince Mohammed bin Salman.

Romania will target business in search of revenue

2019 ◽  
Keyword(s):  
Government Policy ◽  
Budget Deficit ◽  
Social Democrats ◽  
Content Type ◽  
The Social ◽  
The Face ◽  
The Government ◽  
Economic Developments ◽  
Wage Increases

Subject Romanian government policy in a slowing economy. Significance Economic developments have allowed the senior coalition party, the Social Democrats, to claim a measure of success in the last few years, despite acute cabinet instability and controversial judicial reforms. However, growth is widely expected to slow in 2019. Despite upbeat projections in the budget, passed belatedly and in the face of presidential opposition in mid-March, the government is struggling to fund ambitious wage increases, as the budget deficit comes perilously close to breaching EU limits. Impacts The banking and energy sectors are bearing the brunt of interventionist policies. Legal instability could damage investment. Long-term underinvestment in infrastructure and lack of institutional modernisation will become more evident and difficult to tolerate.

Accounting for gaming in the time of plague: COVID-19 in Macau

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Carlos Noronha ◽  
Jieqi Guan ◽  
Sandy Hou In Sio
Keyword(s):  
Critical Event ◽  
Gaming Industry ◽  
Content Type ◽  
The Public ◽  
The Social ◽  
Social Account ◽  
The Government ◽  
The Impact ◽  
Practical Implications

Purpose While the COVID-19 virus has been spreading worldwide, some studies have related the pandemic with various aspects of accounting and therefore emphasized the importance of accounting research in understanding the impact of COVID-19 on society as a whole. Recent studies have looked into such an impact on various industries such as retail and agriculture. The current study aims at applying a sociological framework, sociology of worth (SOW), to the gaming industry in Macau, the largest operator of state-allowed gambling and entertainment in China, which will allow for its development during the COVID-19 pandemic to be charted. Design/methodology/approach The study uses the theory of SOW as a framework and collects data from various sources, such as the government, gaming operators and the public, to create timelines and SOW frameworks to analyze the impact of the virus on the gaming industry and the society as a whole. Findings Detailed content analysis and the creation of different SOW matrices determined that the notion of a “lonely economy” during a time of a critical event may be ameliorated in the long term through compromises of the different worlds and actors of the SOW. Practical implications Though largely theory-based, this study offers a thorough account of the COVID-19 incident for both the government and the gaming industry to reflect on and to consider new ways to fight against degrowth caused by disasters or crises. Social implications The SOW framework divides society into different worlds of different worths. The current study shows how the worths of the different worlds are congruent during normal periods, and how cracks appear between them when a sudden crisis, such as COVID-19, occurs. The article serves as a social account of how these cracks are formed and how could they be resolved through compromise and reconstruction. Originality/value This study is a first attempt to apply SOW to a controversial industry (gaming) while the effects of the COVID-19 pandemic are ongoing. It offers a significant contribution to the social accounting literature through its consideration of the combination of unprecedented factors in a well-timed study that pays close attention to analyses and theoretical elaboration.

Saudi economic reform will be gradual

2016 ◽  
Keyword(s):  
Business Community ◽  
Special Treatment ◽  
Asset Sales ◽  
Royal Family ◽  
Content Type ◽  
Capital Spending ◽  
The Government ◽  
Crown Prince ◽  
Spending Cuts

Significance The government has recently taken some modest steps to rein in the budget deficit, including cuts in energy subsidies, and has promised to improve disclosure of its fiscal performance, but is preparing further measures to put the economy on a sustainable long-term footing. Impacts Subsidy cuts and the prospect of VAT could cause popular resentment because they will affect ordinary citizens more severely than the elite. These measures will widen the income gap and, in the longer run, could increase pressure for more accountable forms of government. Land and other asset sales could generate controversy if businesses associated with the royal family are receiving special treatment. Capital spending cuts will create anger among the business community if projects linked to the deputy crown prince are protected. A prolonged fiscal squeeze could stoke tensions within the royal family and damage the credibility of the deputy crown prince.

Jihadists will slow stabilisation of Yemen's south

2015 ◽  
Keyword(s):  
Saudi Arabia ◽  
United Arab Emirates ◽  
Central Government ◽  
The South ◽  
Content Type ◽  
State Actors ◽  
The Government ◽  
Crown Prince ◽  
Government Authority

Significance The bombing represents the latest setback to Saudi Arabia and the United Arab Emirates (UAE)'s efforts to stabilise southern Yemen and reinstall the government of President Abd Rabbu Mansour Hadi. ISG is just one of a number of sub-state actors that have been empowered by the conflict and that will seek to challenge central government authority. Impacts Insecurity in Aden will deal a blow to the legitimacy of the Saudi-backed Hadi government. A major setback in the south will reflect badly on the reputation of Saudi Defence Minister Deputy Crown Prince Mohammed bin Salman. Reconstruction efforts in southern Yemen will place increased long-term strain on the Saudi budget in particular. Southern Yemen could emerge as a key battleground in the rivalry between al-Qaida and ISG for leadership of the global jihad.

Zimbabwe faces uphill task normalising donor relations

2015 ◽  
Keyword(s):  
External Debt ◽  
Job Creation ◽  
Development Plan ◽  
Content Type ◽  
Finance Minister ◽  
Donor Relations ◽  
Labour Costs ◽  
The Government ◽  
Economic Outlook

Subject Zimbabwe economic outlook. Significance On November 26 Finance Minister Patrick Chinamasa presented the 2016 budget articulating the government's IMF-backed plan to clear the backlog of external debt arrears to international creditors. The aim is to normalise relations with Western donors after 15 years of isolation. The government faces a deepening employment crisis, an unfunded development plan and deflationary risks. Impacts The Labour Amendment Bill adopted in August will raise labour costs and discourage job creation. Some deals signed during Xi's visit such as funding for fibre optic broadband may improve long-term competitiveness. However, others such as an agreement for a new Chinese-built parliament will add to the debt load.

The 2016 Police and Crime Commissioner elections

2017 ◽  
Vol 16 (2) ◽  
pp. 41-54 ◽  
Author(s):  
Peter Joyce
Keyword(s):  
Public Awareness ◽  
Primary Source ◽  
Source Material ◽  
Content Type ◽  
The Public ◽  
The Social ◽  
Key Issues ◽  
The Subject ◽  
The Government

Purpose The purpose of this paper is to analyse the 2016 elections for Police and Crime Commissioners (PCCs) and to compare them with those that took place in 2012. It seeks to evaluate the background of the candidates who stood for office in 2016, the policies that they put forward, the results of the contests and the implications of the 2016 experience for future PCC elections. Design/methodology/approach This paper is based around several key themes – the profile of candidates who stood for election, preparations conducted prior to the contests taking place, the election campaign and issues raised during the contests, the results and the profile of elected candidates. The paper is based upon documentary research, making particular use of primary source material. Findings The research establishes that affiliation to a political party became the main route for successful candidates in 2016 and that local issues related to low-level criminality will dominate the future policing agenda. It establishes that although turnout was higher than in 2012, it remains low and that further consideration needs to be devoted to initiatives to address this for future PCC election contests. Research limitations/implications The research focusses on the 2016 elections and identifies a number of key issues that emerged during the campaign affecting the conduct of the contests which have a bearing on future PCC elections. It treats these elections as a bespoke topic and does not seek to place them within the broader context of the development of the office of PCC. Practical implications The research suggests that in order to boost voter participation in future PCC election contests, PCCs need to consider further means to advertise the importance of the role they perform and that the government should play a larger financial role in funding publicity for these elections and consider changing the method of election. Social implications The rationale for introducing PCCs was to empower the public in each police force area. However, issues that include the enhanced importance of political affiliation as a criteria for election in 2016 and the social unrepresentative nature of those who stood for election and those who secured election to this office in these contests coupled with shortcomings related to public awareness of both the role of PCCs and the timing of election contests threaten to undermine this objective. Originality/value The extensive use of primary source material ensures that the subject matter is original and its interpretation is informed by an academic perspective.

Using system dynamics to evaluate renewable electricity development in Malaysia

Kybernetes ◽  
2014 ◽  
Vol 43 (1) ◽  
pp. 24-39 ◽  
Author(s):  
Salman Ahmad ◽  
Razman bin Mat Tahar
Keyword(s):  
System Dynamics ◽  
Fossil Fuels ◽  
Systems Approach ◽  
Capacity Expansion ◽  
Assessment Model ◽  
Flow Diagram ◽  
Content Type ◽  
The Government ◽  
Policy Targets

Purpose – The purpose of this paper is to provide an assessment of Malaysia's renewable capacity target. Malaysia relies heavily on fossil fuels for electricity generation. To diversify the fuel-mix, a technology-specific target has been set by the government in 2010. Considering the complexity in generation expansion, there is a dire need for an assessment model that can evaluate policy in a feedback fashion. The study also aims to expand policy evaluation literature in electricity domain by taking a dynamic systems approach. Design/methodology/approach – System dynamics modelling and simulation approach is used in this study. The model variables, selected from literature, are constituted into casual loop diagram. Later, a stock and flow diagram is developed by integrating planning, construction, operation, and decision making sub-models. The dynamic interactions between the sub-sectors are analysed based on the short-, medium- and long-term policy targets. Findings – Annual capacity constructions fail to achieve short-, medium- and long-term targets. However, the difference in operational capacity and medium- and long-term target are small. In terms of technology, solar photovoltaic (PV) attains the highest level of capacity followed by biomass. Research limitations/implications – While financial calculations are crucial for capacity expansion decisions, currently they are not being modelled; this study primarily focuses on system delays and exogenous components only. Practical implications – A useful model that offers regulators and investors insights on system characteristics and policy targets simultaneously. Originality/value – This paper provides a model for evaluating policy for renewable capacity expansion development in a dynamic context, for Malaysia.

The new Zambian president faces long-term challenges

2021 ◽  
Keyword(s):  
National Development ◽  
Social Costs ◽  
Debt Restructuring ◽  
Content Type ◽  
Fiscal Constraints ◽  
Reform Programme ◽  
The Social ◽  
Voter Suppression ◽  
Spending Cuts

Significance Hichilema's surprise win came despite extensive voter suppression and intimidation attributed to former President Edgar Lungu and the ruling Patriotic Front (PF) against supporters of Hichilema’s United Party for National Development (UPND). Impacts The broad scope of Hichilema’s reform programme will pose difficulties of prioritisation, particularly within current fiscal constraints. Higher copper prices may mitigate some of the social costs associated with debt restructuring and spending cuts. The cancellation of a meeting between President Joe Biden and Hichilema over LGBT rights concerns may complicate relations with Washington.

Jordan’s king will face rising popular pressures

2021 ◽  
Keyword(s):  
Financial Aid ◽  
Content Type ◽  
House Arrest ◽  
Security Services ◽  
Official Position ◽  
Gulf States ◽  
The Government ◽  
Crown Prince ◽  
Video Material

Significance Former Crown Prince Hamzah was placed under house arrest on April 3, as 20 other people were detained. His release of audio and video material that undermined the official position embarrassed the government, and the recent public reconciliation leaves his status unclear. Impacts Despite the aspersions cast on Riyadh, Gulf states will send further financial aid to boost stability and compete for influence. Another government reshuffle and further changes within the security services are likely. Relations between Abdullah and Hamzah will remain troubled, as the latter seeks to remain relevant in case an opportunity presents itself.

Import obstacles will slow Argentine economic rebound

2021 ◽  
Keyword(s):  
Spillover Effect ◽  
Exchange Market ◽  
Luxury Goods ◽  
Content Type ◽  
Product Availability ◽  
Regulatory Changes ◽  
High Inflation ◽  
Red Tape ◽  
The Government

Significance In January, the Central Bank of Argentina restricted access to the official exchange market for imports of some luxury goods, while the government asked companies to present their foreign trade estimates for 2021 and suggested that it would not approve any rise in imports unless this was offset with higher exports. Importers are facing mounting delays, which raise costs and hamper domestic production by restricting access to inputs. Impacts Higher import costs due to red-tape delays and shortages of product availability will fuel already high inflation. Frequent regulatory changes will discourage long-term investments and damage importers’ relations with foreign suppliers. Import controls will hit the auto sector hard, with a negative spillover effect in manufacturing more broadly.

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