Dubai

Russia's Arms Sales To Middle East Countries Spike To Record-High Levels

"It’s not S-400 only. Russian weapons, especially aircraft and air defense systems, have proven to be a cost effective alternative to much more expensive Western systems...All in all, the spike in Middle East arms sales is a success story for Russia’s defense industry. "

Frontrunning: November 15

  • GOP Seeks to Derail Moore, Salvage Senate Seat (WSJ)
  • Army takes control in Zimbabwe (Reuters)
  • Senate Tax Plan Guts Obamacare, Sunsets Many Middle-Class Cuts (BBG)
  • Senate Republicans tie tax plan to repeal of key Obamacare mandate (Reuters)
  • Trump’s Campaign Foreign Policy Team Under Mueller’s Microscope (BBG)

Global Stocks Tumble, Asia Plunges On Chinese Commodity Carnage

The euphoria of the past month has ended with a thud and BTFDers are strangely missing as the commodity chill out of China (which overnight became full blown carnage), has unleashed a global risk-off phase ahead of today's critical CPI data, resulting in broad and sharp selling across global markets, as European stocks followed declines in Asia while bonds and gold advanced.

Frontrunning: November 13

  • Trump, Duterte Strike Up a Friendship, Sidestep Thorny Issues (WSJ)
  • Strong earthquake hits Iraq and Iran, at least 332 killed (Reuters)
  • GE’s New CEO to Focus on Power, Aviation, Health (BBG)
  • GE Slashes Dividend Amid Restructuring (WSJ)
  • Uber board strikes agreement to pave way for SoftBank investment (Reuters)
  • World's Top Tech Giants Amass $1.7 Trillion in Monster Year (BBG)

Pepe Escobar: The Inside Story Of The Saudi Night Of The Long Knives

This is more serious than it appears. The arrest of the two sons of previous King Abdullah, Princes Miteb and Turki, was a fatal mistake. This now endangers the King himself. It was only the regard for the King that protected MBS. There are many left in the army against MBS and they are enraged at the arrest of their commanders.