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Thursday, November 26, 2015
Excerpts: Saudi re sanctions on Hezbollah. US sanctions oil from ISIL for Assad regime. Egypt's Coptic Pope visits Israel. Russia rejects import of Turkish food. Sisi loyalists winning election. Impact of dropping oil prices. Jordan's Aqaba tourism revival November 26, 2015

Excerpts: Saudi re sanctions on Hezbollah. US sanctions oil from ISIL for
Assad regime. Egypt's Coptic Pope visits Israel. Russia rejects import of
Turkish food.Russia rejects import of Turkish food.Sisi loyalists winning
election. Impact of dropping oil prices. Jordan's Aqaba tourism revival
November 26, 2015

+++SOURCE: Saudi Gazette 26 Nov.’15:”Saudi Arabia imposes sanctions on
senior Hezbollah figures”, by Al Arabiya SUBJECT: Saudi re sanctions on
Hezbollah
FULL TEXT:The sanctions are geared at targeting what it describes as
Hezbollah’s “malicious” activities beyond Lebanon’s border, the Saudi
Interior Ministry said in a statement carried by the Saudi Press Agency
(SPA).

Hezbollah is seen as a long-time ally of Syrian President Bashar Al-Assad
and plays a major role in the Syrian conflict.

“The kingdom will continue to combat Hezbollah’s terror activities with all
the available means, and will continue to work with the partners across the
world [in this regard],” the statement said.

“As long as Hezbollah spreads chaos and instability, launches terror attacks
and carries out criminal and illegal acts across the world, then Saudi
Arabia will continue to classify its leaders, activists and entities [as
terrorists] and sanction them accordingly,” it added.

The sanctions will target: “supporters and those who work for them or on
their behalf, and freezes any assets for those classified (terrorists)
according to the kingdom’s regulations, prohibiting Saudi citizens from
cooperating with them.”

The SPA published the following list of people hit by the sanctions:

Ali Mousa Dakdouk Al-Mousawi, Mohammad Kawtharani, Mohammad Youssef Ahmad
Mansour, Adham Tabaja and his company Al-Inmaa Group for Tourism Works, and
its subsidiaries, Kassem Hujeij, Hussein Ali Faour and his car maintenance
company, Mustapha Badereddine, Ibrahim Akil, Fouad Shukr, Abdulnour
Al-Shaalan, Mohammad Najib Karim and Mohammad Salman Fawaz. — Al Arabiya

+++SOURCE: Naharnet(Lrbanon) 26 Nov,’15:”U.S. Sanctions Assad Supporters
,Including Man who ‘Buys Oil from IS’,by Agence France Presse
SUBJECT:U.S. sanctions oil from IS for Assad regime

QUOTE: The (U.S. Treasury) Department highlighted ongoing ties of Syria
government to ISIL”

FULL TEXT:The United States imposed sanctions Wednesday[25 Nov] on
supporters of Syrian President Bashar Assad's government, including a
middleman it alleged buys oil for the regime from the Islamic State group.

"The Syrian government is responsible for widespread brutality and violence
against its own people," said Adam Szubin, acting under secretary for
terrorism and financial intelligence, in a statement announcing the
sanctions action.

"The United States will continue targeting the finances of all those
enabling Assad to continue inflicting violence on the Syrian people."

The Treasury Department named four individuals and six entities for
sanctions for their support of the Assad regime, "including a middleman for
oil purchases by the Syrian regime from the Islamic State of Iraq and the
Levant (ISIL)," another name for the Islamic State group.

The department highlighted "ongoing government of Syria ties to ISIL."

Sanctions were imposed on George Haswani, a Syrian national, and his
company, HESCO Engineering and Construction Company.

"Haswani is a Syrian businessman who serves as a middleman for oil purchases
by the Syrian regime from ISIL. HESCO is a Syrian engineering and
construction company that operates energy production facilities in Syria,
reportedly in areas controlled by ISIL," the Treasury Department said.

Other sanctions targets included Russian Financial Alliance Bank, Primax
Business Consultants Limited, and Belize-based Kremsont Commercial Inc.

The sanctions forbid U.S. individuals or entities from doing any business
with those on the blacklist, restricting their access to international
financial networks crucial to doing business.

+++SOURCE:Naharnet(Lebanon)26 Nov.’15:”Egypt’s Coptic Pope in Rare Visit to
Jerusalem” , by Agence France Presse
SUBJECT:Egypt’s Coptic Pope visits Israel

QUOTE:”The visit is to attend the funeral and nothing more”

FULL TEXT:Egypt's Coptic Pope Tawadros II left for Jerusalem Thursday[26
Nov] for the funeral of a senior cleric, the first visit by the head of
Coptic Christians in decades, a church spokesman said.

He will attend the funeral of Archbishop Anba Abraham, the head of the
Coptic Church in the Holy Land who died on Wednesday[25 Nov] at the age of
73.

Egyptian Copts were forbidden from visiting Israel by their late Pope
Shenouda III in protest at Israel's occupation of east Jerusalem.

Shenouda passed away in 2012 after leading the ancient orthodox church for
40 years.

"The visit is to attend the funeral and nothing more," church spokesman
Boulos Halim told AFP.

"The position of the church remains unchanged, which is not going to
Jerusalem without all our Egyptian (Muslim) brothers."

Despite the ban, hundreds of Egyptian Copts have visited Israel over the
past few years during Easter.


+++SOURCE: Naharnet (Lebanon)26 Nov.’15:”Russia Reinforces Control Over
Turkish Food Imports”, by Agence France Presse

SUBJECT: Russia rejects import ofTurkish food

QUOTE:”Russia is pulling out all the stops in response to NATO member Turkey
shooting down its military plane”

FULL TEXT:Russia said Thursday[26 Nov] that it would reinforce control over
Turkish food imports citing frequent violations of safety standards, as
tensions surged with Ankara over the downing of a Russian warplane on the
Syrian border.

Some 15 percent of Turkish agricultural produce does not meet Russian
standards with levels of pesticides, nitrates and nitrites considerably
above safe limits, Agriculture Minister Alexander Tkachev said.

"Taking into account repeated violations by Turkish producers of Russian
norms, the Russian government has tasked (the food safety agency)
Rosselkhoznadzor with reinforcing control over supplies of agricultural
produce and food from Turkey," Tkachev said.

Russia will "organise additional checks at the border and at food production
sites in Turkey," he said.

Russia has found "traces of banned and harmful substances" in Turkish food
products of animal origin some 40 times this year, Tkachev added.

Over the past 10 months Turkey imported agricultural produce and food worth
just over $1 billion (one billion euros) to Russia, down 21.2 percent
compared to the same period last year.

Turkish vegetables account for some 20 percent of vegetables imports to
Russia, said Tkachev, adding that Moscow could opt to buy produce from other
countries, such as tomatoes from Iran, Israel, Morocco, Azerbaijan and
Uzbekistan.

Turkey also accounts for a quarter of Russian citrus fruit imports, he said,
adding that the country could switch to other producers including South
Africa, China, Argentina and Georgia.

Russia also said it could redirect its Turkish exports including wheat and
oil to countries in the Middle East and Africa.

Over the past 10 months, Russian exports to Turkey amounted to $1.3 billion.

Russia is pulling out all the stops in response to NATO member Turkey
shooting down its military plane.

While ruling out military retaliation against Ankara, officials have
promised a barrage of economic and political measures.

President Vladimir Putin branded the incident a "stab in the back" and
warned Russians against travelling to Turkey, a hugely popular tourist
destination.

On Wednesday[25 Nov], lawmakers from the Kremlin-friendly A Just Russia
party introduced a bill calling for a maximum punishment of five years in
jail for those who deny that the mass killing of Armenians by Ottoman Turkey
in 1915 was a genocide.


+++SOURCE: Naharnet (Lebanon)26 Nov.’15:”Russia Reinforces Control Over
Turkish Food Imports”, by Agence France Presse

SUBJECT: Russia rejects import ofTurkish food

QUOTE:”Russia is pulling out all the stops in response to NATO member Turkey
shooting down its military plane”

FULL TEXT:Russia said Thursday[26 Nov] that it would reinforce control over
Turkish food imports citing frequent violations of safety standards, as
tensions surged with Ankara over the downing of a Russian warplane on the
Syrian border.

Some 15 percent of Turkish agricultural produce does not meet Russian
standards with levels of pesticides, nitrates and nitrites considerably
above safe limits, Agriculture Minister Alexander Tkachev said.

"Taking into account repeated violations by Turkish producers of Russian
norms, the Russian government has tasked (the food safety agency)
Rosselkhoznadzor with reinforcing control over supplies of agricultural
produce and food from Turkey," Tkachev said.

Russia will "organise additional checks at the border and at food production
sites in Turkey," he said.

Russia has found "traces of banned and harmful substances" in Turkish food
products of animal origin some 40 times this year, Tkachev added.

Over the past 10 months Turkey imported agricultural produce and food worth
just over $1 billion (one billion euros) to Russia, down 21.2 percent
compared to the same period last year.

Turkish vegetables account for some 20 percent of vegetables imports to
Russia, said Tkachev, adding that Moscow could opt to buy produce from other
countries, such as tomatoes from Iran, Israel, Morocco, Azerbaijan and
Uzbekistan.

Turkey also accounts for a quarter of Russian citrus fruit imports, he said,
adding that the country could switch to other producers including South
Africa, China, Argentina and Georgia.

Russia also said it could redirect its Turkish exports including wheat and
oil to countries in the Middle East and Africa.

Over the past 10 months, Russian exports to Turkey amounted to $1.3 billion.

Russia is pulling out all the stops in response to NATO member Turkey
shooting down its military plane.

While ruling out military retaliation against Ankara, officials have
promised a barrage of economic and political measures.

President Vladimir Putin branded the incident a "stab in the back" and
warned Russians against travelling to Turkey, a hugely popular tourist
destination.

On Wednesday[25 Nov], lawmakers from the Kremlin-friendly A Just Russia
party introduced a bill calling for a maximum punishment of five years in
jail for those who deny that the mass killing of Armenians by Ottoman Turkey
in 1915 was a genocide.

+++SOURCE: Jordan Times 26 Nov ’15:”Sisi loyalists sweep list seats in
Egypt's election”,by Reuters

SUBJECT:Sisi loyalists winning election

QUOTE:”Al Sisi has picked up all 60 list seats…in the second and final round
of a parliamentarian election”

FULL TEXT:CAIRO — An electoral alliance loyal to Egyptian President Abdel
Fattah Al Sisi has picked up all 60 list seats up for grabs in the second
and final round of a parliamentary election marred by low participation,
official preliminary results showed on Wednesday.

"For the Love of Egypt", a loyalist electoral alliance led by a former
intelligence officer, has now swept both rounds of the elections and will
enter parliament with all 120 seats allocated to winner-takes-all lists.

The second phase of elections, hailed by Sisi as the climax of the
military's roadmap to democracy, were held on Sunday(22 Nov) and Monday(23
Nov), with low voter turnout similar to the first phase.

Turnout in the latest round of voting, which took place in 13 provinces,
including Cairo, was almost 30 per cent, the election committee said on
Wednesday.[25 Nov]

The vote is meant to restore parliament after a gap of more than three
years, which critics say have been undermined by widespread repression.

All but nine of the 222 individual seats contested in round two will be
subject to run-offs between leading candidates. They will take place on
December 1-2 after candidates failed to secure a majority of votes in
earlier rounds.

The new parliament will contain 568 elected members — 448 elected on an
individual basis and 120 through the winner-take-all lists that have all
gone to loyalists. Sisi may appoint as many as 28 more lawmakers.

Preliminary results are expected on December 3, and the final list of
parliamentary members will be announced on December 20.

Egypt's last parliament was elected in 2011-12, in the first election after
the popular uprising that ended Hosni Mubarak's 30-year rule. Voting then
was marked by long queues and youthful excitement. The Muslim Brotherhood,
long the country's main opposition movement, won about half the seats.

A court dissolved that parliament in mid-2012. A year later, Sisi, then
military chief, removed president Mohamed Mursi of the Brotherhood from
power after mass protests against his rule.The Brotherhood, Egypt's oldest
Islamist organisation, was banned, declared a terrorist organisation and
thousands of its members were jailed.

A list of socialist and liberal parties which would have presented the main
opposition choice eventually withdrew, leaving the field dominated by Sisi
supporters, Mubarak-era figures, provincial notables and businessmen.These
figures performed well in round one and look set to repeat their success.


+++SOURCE:Jordan Times 26 Nov’15:”Saudi deputy crown prince reportedly
considering subsidy cuts”,by Agencies

SUBJECT:Impact of dropping oil prices

QUOTE:”The IMF said Saudi,Oman and Bahrain will spend all their fiscal
reserves in under five years if they fail to take additional austerity
measures”

RIYADH — Saudi Arabia may reduce energy and water subsidies for wealthy
citizens among other reforms to diversify its economy away from oil amid a
sustained fall in prices, its Deputy Crown Prince Mohammed Bin Salman was
quoted as saying on Wednesday[25 Nov.].

His interview with The New York Times also appeared to suggest he could
foresee oil prices dropping far below their current level of around $45 a
barrel.

The newspaper paraphrased the prince's reform plans, adding: "So even if oil
falls to $30 a barrel, Riyadh will have enough revenues to keep building the
country without exhausting its savings," but without making clear if that
figure was its own or had been mentioned by Mohammed Bin Salman.

The world's top oil exporter has previously said it was studying increases
in domestic energy prices, the introduction of value-added tax (VAT) and the
installation of nuclear and solar power.

Low oil prices and expected deficits in coming years have spurred a new
focus on reforms in the conservative kingdom with the aims of diversifying
the economy away from a dependence on crude revenue.

"The key challenges are our overdependence on oil and the way we prepare and
spend our budgets," he said in the interview.

Benchmark Brent oil futures eased on Wednesday[25 Nov] to trade around $45
per barrel as the dollar strengthened and investor focus shifted back to a
deep global supply glut.

The glut arose on the back of the US shale oil revolution as well as a Saudi
decision last year to persuade the Organisation of Petroleum Exporting
Countries to keep the taps open to fight for market share with rival
producers.

Besides reducing subsidies, the reforms might include imposing a VAT and
taxes on unhealthy goods like cigarettes and sugary drinks, he was quoted as
saying.

The newspaper reported that he also said he would privatise and tax mines
and undeveloped land, and intended to reduce domestic oil consumption by
installing nuclear and solar electricity capacity, without giving further
details.

Mohammed Bin Salman, who is also defence minister, heads a supercommittee on
the kingdom's economy and development as well as a National Performance
Centre that oversees efficiency in all government ministries.

Under King Abdullah, who died in January, Saudi Arabia privatised big state
companies, opened main sectors of the economy to private and foreign
investment, joined the World Trade Organisation and reformed labour laws.

However, economists say the government can do more to strengthen the role of
Saudi nationals in the private sector economy, including via education
reform, and to make the government more efficient.

Separately, faced with heavy losses from low oil prices, Gulf states have
embarked on belt-tightening measures to cut spending and boost non-crude
revenues, but analysts warn much more needs to be done.

After more than a decade of abundant surpluses thanks to high oil prices,
the six Gulf Cooperation Council (GCC) states are projected to post a
combined record shortfall of $180 billion in 2015 and the drought is
expected to continue for years.

Some countries have already cut subsidies, while others are considering
measures to reduce their spending.

International Monetary Fund (IMF) chief Christine Lagarde told GCC finance
ministers in Qatar this month that "global energy prices could remain low
for years" and urged them to adjust their budgets.

Lagarde warned that the GCC, which has relied on energy income for 90 per
cent of their revenues, should reduce dependence on oil and gas.

In 2014, GCC states — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the
United Arab Emirates (UAE) — posted a small surplus of $24 billion, down
from $182 billion the previous year, according to IMF figures.

Each of Bahrain, Oman and Saudi Arabia ended 2014 in the red for the first
time since the global financial crisis in 2009.

World oil prices have dropped by more than 50 per cent since June 2014 and
the IMF has projected that it will result in a $275 billion drop in GCC
revenues this year.

'Much larger' problem this time

But having amassed a wealth of around $2.7 trillion over the past decade,
the IMF advised GCC states to take a gradual approach to implementing
reforms and diversifying the economy.

Although the measures may not be easy to enforce in countries that have long
offered generous welfare systems, analysts believe this time fiscal
consolidation, diversification and reforms must be deeper, long-term and
sustainable.

"The magnitude of the problem is much larger this time because subsidies and
salaries have immensely increased in the past few years, together they form
90 per cent of current expenditure," indicated the head of economic research
at Kuwait Financial Centre (Markaz), M. R. Raghu.

"They cannot roll back on salaries because this is too sensitive," Raghu
told AFP.

Spending in Gulf states, mostly on salaries and subsidies, almost doubled to
$550 billion between 2008 and 2013, according to IMF statistics.

The six nations have a population of 50 million, half of them foreigners,
and pump around 18 million barrels per day.

The steep rise in expenditures greatly increased the breakeven price for
oil, to $106 a barrel in the case of Saudi Arabia from under $70 a few years
ago. It is higher for Bahrain and Oman.

IMF and the World Bank estimate that the direct cost of energy subsidies in
the GCC was $60 billion last year.

Steps taken by the GCC states to cut spending and raise non-oil income have
been modest so far.

The UAE took the lead by liberalising fuel prices in June and raised
electricity charges in Abu Dhabi. Both measures are expected to save
billions of dollars.

Having the most diversified economy in the Gulf, the UAE said it has
earmarked more than $80 billion for projects away from oil.

Kuwait began selling diesel and kerosene at market prices at the start of
2015. It has cut spending by 17 per cent and is in the process of raising
petrol prices and charges on electricity and water.

However, it has still awarded projects worth a record $30 billion so far
this year, according to officials and experts.

Saudi Arabia, for its part, said it was considering delaying "unnecessary"
projects and studying energy subsidies reforms.

Gas-rich Qatar said it is also considering some spending cuts and reducing
subsidies. Oman and Bahrain, the poorest members of the GCC in terms of
energy wealth, have announced similar plans.

"This is not enough. They have a long way to go," stressed Shanta Devarajan,
World Bank chief economist for the Middle East and North Africa. "This is
just the beginning... the measures must focus on reforms, unemployment and
diversification. Much more steps are needed."

The IMF said reforms should include comprehensive energy efficiency and
price alterations, expanding non-oil revenues, reviewing capital and current
expenditures and reducing the government wage bill.

The IMF said Saudi Arabia, Oman and Bahrain will spend all their fiscal
reserves in under five years if they fail to take additional austerity
measures.

"GCC states must be serious this time... The $100 a barrel days are gone and
they have to live with a $40-$50 price," Raghu said.




+++SOURCE:Jordan Times 26 Nov,’15:” Aqaba prepares for ‘tourism revival’ as
Russian charter flights start arriving”, by Khetam Malkawi

SUBJECT:Jordan’s Aqaba tourism revival

QUOTE:”tourism revival as Russian charter flights start arriving”

FULL TEXT:AQABA — The Red Sea resort city of Aqaba will witness a revival of
its tourism sector, with 91 Russian charter flights scheduled to land in the
port city over the next four months and plans under way to make its airport
more competitive.

Munir Asad, general manager of Aqaba Airports Company and director of King
Hussein International Airport (KHIA), on Tuesday[24 Nov.] said that the
Russian flights — two of which have already landed — will transport more
than 200 passengers each from now until the middle of March 2016.

He explained that these flights have already confirmed their arrivals and
departures, so the total number of incoming visitors is expected to reach
18,000.

To increase Aqaba’s accessibility for all travellers, the airport management
has also reached a “preliminary” agreement with a Hungarian low-cost carrier
to operate regular flights to KHIA.

The agreement is expected to enter into force in February next year, with
two flights scheduled per week, according to Asad.

The KHIA director explained that despite the strategic location of Aqaba, it
has many competitors in the quest to attract tourists, so its challenge is
to make “our competitors irrelevant”.

Providing the right capacity and level of service, in addition to offering
economical landing fees and charges, is critical to increasing the airport’s
competitive edge, he said.Asad noted that KHIA is already on the right track
towards becoming a competitive destination.“To establish the right
competitive edge, airlines are offered a 50 per cent discount on fees and
charges,” he said, explaining that this is part of the Civil Aviation
Regulatory Commission’s by-laws.

Royal Jordanian also offers a discount in ground handling, according to
Asad.

The airport also excels in its quick turnaround time for aircraft — only 45
minutes — from arrival to departure, he noted, adding that “this is a record
and enables us to attract low-cost carriers.”

Asad said work is under way to increase the airport’s capacity, which is
crucial for competitiveness.The Aqaba Airports Company has also improved its
level of service through the establishment of a facilitation programme as
part of a two-phase development plan, according to the airport director.

The first phase, costing JD25 million, will be completed in five to six
months and includes rehabilitation of the runway and expansion of the
arrivals building, both now complete, as well as expansion of the departure
facility, which is under construction.

Asad said the second JD35 million phase, to be completed in 2028, will
include restructuring the airport facilities, tower building and
headquarters. press that the volume of investment at the airport exceeds
JD100 million.

These include Al Baddad aircraft maintenance base and Ayla Aviation Academy.

Despite the impact of regional unrest on tourism, KHIA remains competitive
and “the only open-sky airport in the region”, he stressed.

The airport received 96,000 passengers in the first 10 months of this year,
154,000 in 2014, and 160,000 in 2013.

Turkish Airlines is one of the operators flying regularly to KHIA, with four
flights per week over the past two years.

The airline, which connects Aqaba to more than 270 destinations, transported
24,257 passengers to the port city in the first 10 months of this year,
according to Asad.
===============
Sue Lerner - Associate, IMRA

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