RSSMENA Region General Archives
March 22, 2008
Echoing Obama to MENA
An interesting comment in The Wasington Post, whose main thesis is an approach like Obama's to race, to MENA would help. Of course I also think of race within MENA at the same time. But worthy of a think.
Posted by The Lounsbury at 06:13 PM | Comments (4) | TrackBack
March 21, 2008
Lunatic Real Estate
Now and again one can question even the basic sanity of some decisions. Or the pure idiot cupidity. Real Estate and UK investors come to mind. In particular, from The Times (London) and this particularly inane note Fly-to-let: the best places to buy an investment property overseas:
Continue reading "Lunatic Real Estate"
Posted by The Lounsbury at 08:15 PM | Comments (3) | TrackBack
March 08, 2008
Gaza
Somewhere on Aqoul comments a commentator asked us to comment on Israel & Gaza. Here is my one and sole comment. Same same and now the Arab Sats are even more tediously over-focused on a few square kilometres of idiocy than usual. Boring. Until someone is ready to knock Israeli heads together to get reasonable engagement, nothing to see but more mayhem. I gave up on this ages ago.
Posted by The Lounsbury at 11:25 AM | Comments (0) | TrackBack
December 29, 2007
American Idiocies & Reasons to Fear Left Bollocks
While I await with impatience the end of the current American administration, as its gross incompetence and sheer idiocy are in themselves reasons to see them off, this bit of blogging nonsense and the coverage from the Financial Times reminded me that the American left has its share of incompetent posturing morons, and not merely in blogging land. Leaving aside the blog partisan, whose silly ranting on about Mr Guilani's having done business with Qatar, and oh horrors a "Qataran" [the same author mocked 'poofed' up hair as an expression...] or rather Qatari minister of the responsible ministry having supposed connexions to al Qaeda. Insofar as the fellow is the Interior Minister of Qatar, and member of the Royal family which runs Qatar (a close US ally), the posturing is idiotic.
Or more directly, the harmlessness of the supposed measure which pretends to allow private American citizens to attempt to sue Sovereigns they pretend are state sponsors of terror [presumably defined by Americans] (never mind the potential of it having been overlooked, which does not strike one as impossible) is clearly false proposition.
The Iraqi government was quite right to object, and the US Presidency was right to veto this idiocy.
Continue reading "American Idiocies & Reasons to Fear Left Bollocks"
Posted by The Lounsbury at 11:50 AM | Comments (7) | TrackBack
November 11, 2007
Curse of the Dilettantes: celebrity interest in MENA (and other) causes
Worthy of a quick reada note on the celebrity aide complex for Africa which as well applies to the MENA fringe, I draw particular attention to this:
Twenty years on, more “fockin’ money” is still the musicians’ basic prescription for Africa. Bono’s crusade centres around foreign aid and debt relief. There are experts who agree with him. Jeffrey Sachs, the stars’ favourite economist, favours an aid-driven approach to African poverty – and, according to Angelina Jolie, he is “one of the smartest people in the world.”But the Sachs-Bono-Jolie prescription for Africa is hardly uncontested. There are experts who believe that aid to Africa is often counter-productive. Even some of those who agree that aid and debt relief are important see them as only a small part of the solution. In a much-praised book on global poverty, The Bottom Billion, Paul Collier argues that many of the problems of Africa are essentially political. He laments the fact that at the G8: “We have had leadership without an adequate agenda, because to date the agenda has been dominated by aid.
As all know, I frankly detest Sachs as an idiot theotician.
Posted by The Lounsbury at 03:47 PM | Comments (0) | TrackBack
October 27, 2007
Bang, bang goes petrol
The US administration is queerly talented in enriching its enemies while engaging in pointless, self-defeating particularly nuisible form of extra territorality in its unilateralism.
I don't know that I could put it better than Stephens: "the White House once again seems hell-bent on being outwitted in the court of global opinion; and, maybe, on making a strategic miscalculation that could make the war in Iraq look like a sideshow."
Regardless, while dealing with big international money center banks has its efficiencies, there is other non-transparent sources of financing, and while perhaps less skilled, their equally non-transparent friends in Dubai's 2nd to 3rd tier operators can get by.
I am merely happy to have a new found interest in likely benefiting parties.
Posted by The Lounsbury at 01:18 AM | Comments (1) | TrackBack
September 19, 2007
In Defence of Wealthy Royals and Against Monopoly
I was seduced by this item noted via our News Room on the Moroccan Monarchy & the King's wealth to make a long comment in defence of a wealthy royalty (or as an observation that the criticisms were wrong headed in a typical wooley headed Left way) but against Monopoly - as a good Liberal that I am.
Continue reading "In Defence of Wealthy Royals and Against Monopoly"
Posted by The Lounsbury at 06:42 PM | Comments (1) | TrackBack
September 06, 2007
Cold water for Eurabia and similar silly idiocies
I shall find time to return to this, I promise, but let me draw attention to The Financial Times' ongoing series on Muslims in Europe which has to date collected a fine series of articles.
By the way, who was the cretin who coined Eurabia?
Posted by The Lounsbury at 10:57 PM | Comments (3) | TrackBack
August 29, 2007
Idiotic Headline: Turk With Islamic Ties....
Frankly, this headline is inexcusably idiotic: Turk With Islamic Ties Is Elected President.
It's like bloody writing, American with Christian ties...
Posted by The Lounsbury at 12:45 PM | Comments (3) | TrackBack
August 15, 2007
MENA & Credit Crunches, further thoughts
This interestingly timed article in the FT on the sharp rise in Islamic bond issuances provoked some thought, in conjunction with FT REPORT - FT FUND MANAGEMENT: Gulf pensions law promises a bonanza for fund managers from 13 August.
Although the arty has Humphrey Percy, chief executive of the Bank of London and the Middle East, London’s second biggest wholesale Islamic bank, saying “The growth of the sukuk market is a result of far greater knowledge about Islamic finance and much readier acceptance of sukuk as an investment vehicle.” I rather think it's a picture that looks more like CDOs before the tires got kicked this month, insofar as Sukuks haven't been stress tested in reality.
However, the plausible deniability, the lack of clarity and funky issue of "rating" (which frankly I think the rating agencies have become so lax as to make almost fictional)... all strike me as likely to fuel a boom. Liquidity flowing off, non-transparent funds....
Posted by The Lounsbury at 09:03 PM | Comments (0) | TrackBack
August 03, 2007
Gulfies and Berberism versus Salafism (a trivial and somewhat boring story from the 10e)
An amusing, for me at least, conversation witnessed in the 10e arrondissement yesterday at a bodega / dukkan / epicerie shop run by a Chleuh. Myself, waiting to buy my mineral water and afternoon yoghurt snacks.
A unkept beardy type salafi sort from (by accent I am guessing the origins) some aroubi backwoods place such as KSA or Yemen buying groceries from your typical round-headed dorky looking Chleuh shopkeeper. As it is clear the aroubi fellow speaks piss-poor French, and the shopkeeper no English, they use Arabic. Of course the shopkeeper uses derridja, and our aroubi fellow rather more formal Arabic.
For reasons that entirely escaped me the buying of a certain article (some leben nastiness) involved a really stupid exchange about quantity, price, blah blah. I confess I hardly paid attention as I was merely annoyed at being held up. But he is my favourite shopkeeper, and it's not his fault the googly eyed unkept bearded aroubi fellow is tedious.
Posted by The Lounsbury at 09:21 AM | Comments (4) | TrackBack
July 18, 2007
Egyptian Committee for Boycotting
Priceless take away from an otherwise pedestrian article on the retail markets in certain of the MENA markets, the existence of an Egyptian Committee for Boycotting, headed of course by Nasserist cretinliving in a dream world where consumption is something alien to Egypt....
Typical left activist clap-trap at the end, but I love the committee name.
Posted by The Lounsbury at 09:30 PM | Comments (4) | TrackBack
May 31, 2007
Global Blog Commentary as Twittery
I am sure that if this gets linked I shall endure much flaming, but as I don't give a bloody fuck:
In our Aggregator / Syndicator (depenidng on the terminology) I always find posts from the "Global Voices Online" - some precious bit of ... well wooley headed Leftish oriented Kumbaya sharing preciousness that I suppose serves a purposes (although for the love of fucking I hope it is low rent, or supported by some intellectually impaired artist who has more money than reason) in boosting global communication.
However, things like this post (which is not perhaps the best example... well it is not a good example, it simply provoked my gathering irritation. Plus I have been supporting Castro this evening) irritate me.
Posted by The Lounsbury at 10:33 PM | Comments (9) | TrackBack
April 15, 2007
Dar Fur: Finally a decent article in the US press
I do not have much comment, other than to say that this is easily one of the more well-informed articles published in English (although the faux racialisation of Arab versus non-Arab remains in the background) on Dar Fur. In reading this, I should think it clear wny I take a dim view indeed of Western intervention in such conflicts, givent he penchant for White Hat Black Hat thinking, and the utter ignorance that comes with it. Like the Tuareg - Mali Bambara conflict of the early 90s, this is something best left to the locals to settle. Foreign intervention by gullible dupes rarely goes well. And yes, I do not exclude Rwanda from this. The best resolution for Rwanda was not foreign intervention, but rather what occured, except earlier.
[16 April 9:00 GMT: Link fixed]
Posted by The Lounsbury at 10:38 PM | Comments (3) | TrackBack
March 28, 2007
Economic Policy & Lessons for Maghreb: The pain in Spain will follow years of rapid economic gain
Although not directly MENA related, this is worthy of quick attention as it shows someone besides Hogan going for painful punditry, although with an underlying point, and because Spain is beginning to have a truly important influence in the North Africa - essentially Maghreb - region on an economic basis. As well, I would add, to a limited extent on a political basis.
So, here it is The Groan Worthy: The pain in Spain will follow years of rapid economic gain
Posted by The Lounsbury at 04:50 PM | Comments (3) | TrackBack
March 15, 2007
A Whiff of Idiocy, A Whiff of Bigotry, A Whiff of Cankerous Fear in his Dotage (Lewis, Bernard)
Unlike many of my fellow authors, I rather like the works of Bernard Lewis, or rather, the classic works of Bernard Lewis when he was a historian rather than a political dabbler.
Pity to see an old historian stretch himself into idiocy.
Posted by The Lounsbury at 01:21 AM | Comments (15) | TrackBack
March 14, 2007
Development Investing & Indiscipline
I just came away from one of the most profoundly frustrating meetings in a while.
Talking with some local business people about potential financing for an investment project (in real industry, for a change).
Not a bad proposition.
Except for the life of me I can't get them to express their god damned concepts and value proposition.
Continue reading "Development Investing & Indiscipline"
Posted by The Lounsbury at 12:51 PM | Comments (4) | TrackBack
March 13, 2007
Go East Old Man, Go East: Halliburton to Dubai
An interesting article, or rather an article on an interesting development that is difficult to assess. From the FT, entitled Risky Locations, on Halliburton's queer decision to move its CEO to Dubai.
I am, to be frank, puzzled. Comment below.
Continue reading "Go East Old Man, Go East: Halliburton to Dubai"
Posted by The Lounsbury at 08:35 PM | Comments (7) | TrackBack
March 07, 2007
Imperial America: Iran & Sanctions on 3rd Party Hydrocarbon Sector Investment
The Financial Times has an interesting, if infuriating (from its content, not writing) article on the Imperial American pretension to regulate other's investment in Iran. What irritates here especially is that I know from experience the slightest hint of similar actions by EU or similar parties touching on American interests provokes paroxysms of incoherent rage on the part of Americans. I confess readily knowledge of this, as well as my conviction that the US efforts here are posturing and will end up merely alienating without any real achievement, adds to my deep sense of irritation.
Now, mind you, the concept of the effort does not offend, and my snide swipe at Imperial America is most explicitly not from your usual Lefty whinging "evil capitalist America" tripe sort of point of view. No, It's about over-reaching, and clumsy over-reaching. I am a strong believer in avoiding too much obvious hypocrisy. One reason the overdone language the Americans and the French tends to engage in in their precious self-fellating rhetoric over their respective civilisations irritates.
Operationally, for many of the same reasons I predict that it will be the Chinese and similar parties that will reap the Iraqi hydrocarbons windfall, I strongly believe the US sanctions are an example of cutting off your nose to spite your face, which for some reason the current American administration seems to find to be a queerly enjoyable activity.
Continue reading "Imperial America: Iran & Sanctions on 3rd Party Hydrocarbon Sector Investment"
Posted by The Lounsbury at 06:43 PM | Comments (3) | TrackBack
March 06, 2007
Opportunity Cost
I just had an amusing, even hilarious for me, lunch with my attorney who was ranting on about how his local clients have to be brow-beaten (and we're talking corporates, name brand even) into conveying timely information, to him, their attorney, for work they've demanded.
I actually have the exact same experience. It's amazing, really, what it takes to get the simplest fucking things done in this region. Efficiency. What's most irritating and yet in some ways puzzling (in others not when you think about internal organisational structures and incentives) is the foot dragging raises their costs as much as mine (or the attorney's). Of course the constant whinging on about costs etc when they sit down with a bill makes this even more infuriating.
But there are clear organisation incentives to non-performance in the typical MENA company, nothing shocking that doesn't exist in the West of course - see Dilbert. But as always, these things are a question of degree, and indeed the weakness of countervailing incentives.
In some ways it's a good way to look at the failures of Iraq, since the American decision makers innocently assumed the exact same incentive structures, decisional processes and worst yet, reactivity. And being arrogantly blinded to the sometimes (indeed often) subtle differences - any one of which may be individually trivial, but cumulatively is fatal - were unable to react, to adjust and change at once tactics and conceptual strategy in ways that actually responded to the real incentive structures.
I've noted in places like our fool Andrew Sullivan (and even more egregiously chez the Moustache of Understanding) comments tending to indicate that Arabs (or Muslims, en grosso modo) don't value / want / desire Liberty, etc. etc. That's bollocks - but the operational incentives for making changes to achieve those things require different approaches, and realisation that the near term incentive structure is weighted towards avoidance of decisions etc. - nails get pounded down - unless one has a means to control - as in guns.
Posted by The Lounsbury at 01:53 PM | Comments (1) | TrackBack
February 21, 2007
The Carib Gulag Archipelago
I am not frequently moved to comment on issues American domestic in large part, however this news item caught my eye for its meaning to the MENA region and US image there.
I have no expertise in US constitutional law and shall not remotely pretend to comment on the legality or constitutionality. I am sure others will.
Rather, I am moved by the sheer idiocy of what the US continues to do. If this is indeed legal and constitutional, well, I have to say that the Americans have carved out a vast gaping whole in the tradition of Habeus Corpus, one that is at once revolting for its Neo-Bolshevik logic and disturbing given the increasingly imperial pretensions and reach of US law. Worse than these essentially moral, but also pragmatic issues, given that these acts might be justified if the cost-benefit was positive (it is not), is the massive self-inflicted damage (for no real gain at all) the US is doing to itself in creating what is, in effect, an off-shored version of the Gulag Archipelago. Yes, rather more humane if still involving torture, than the Soviet version, but in many ways less honest, for the tortured logic that Guantanamo is somehow in some tortured legal fiction, not under US sovereignty.
I am particularly moved to comment on this because of an interesting anecdote from a friend yesterday, who had to do some neurological tests - involving electroshocks to test reaction. The joke on the part of the Arab doctors, all quite Westernized and Western leaning, based on his citizenship, was "not going to be any worse than the torture at Guantanamo."
The US has fallen to a low level when even its friends make jokes in this manner. Reminds me of the jokes I used to hear from Sov lands....
Regardless, then of the legality, the US has stepped up to a precipice. It must come back.
Posted by The Lounsbury at 01:29 PM | Comments (15) | TrackBack
February 18, 2007
Hirsi Ali Autobiography: Inconsistencies, an Economist review
A brief note calling attention to The Economist review of Hirsi Ali's autobio: I believe my Aqoul colleagues should enjoy reading both the review and perhaps eventually the book.
I have to say the notes in the review rather confirm some observations and speculation on the part of Eerie.
Continue reading "Hirsi Ali Autobiography: Inconsistencies, an Economist review"
Posted by The Lounsbury at 10:53 PM | Comments (8) | TrackBack
Reflexions on Talent, Markets, MENA & Development - The Value of Initiative
Inspired in part by a comment by Shaheen, and in part by some convo I dimly recall from a few months back somewhere in bloggy land about the value of expats and overseas educated and experienced staff, I thought I might make a comment on the value of staff with international experience.
While perhaps potentially self-serving, I really mean to briefly reflect on barriers to growth in MENA, as a business as well as a social problem.
Continue reading "Reflexions on Talent, Markets, MENA & Development - The Value of Initiative"
Posted by The Lounsbury at 12:30 AM | Comments (12) | TrackBack
January 26, 2007
Oh Bollocks. These Bloody Bolshy Fuckers
Every time I think the Americans can not possibly get any stupider, any more completely retarded and incompetent, I am decieved. What possesses them to think that antognising yet more parties in the region can possibly help their sorry asses utterly escapes me - although I suppose in the lunatic ideological world of the Right Bolshevik World this is the equivalent of liquidating the Grasping Kulaks so as to prevent hoarding, as after all if the Kulaks are liquidated, obviously Socialist Bliss will result.
Continue reading "Oh Bollocks. These Bloody Bolshy Fuckers"
Posted by The Lounsbury at 07:37 PM | Comments (30) | TrackBack
January 23, 2007
And for MENA
In a busy day of meetings, the news that the US is putting a new carrier group in the Persian Gulf area brought a bit of cheer, like napalm to us all. Except for the US fund manager who oddly was pimping his firm to do Islamic finance offerings.
Queer how tone deaf and self-referential that was. "We should send a message to the Persians...."
Mate, leave that stridency for the other side of the sea. Everyone else is thinking about the sheer incredible March of Folly aspect to this and the likely disaster (given the incompetence seen to date).
Posted by The Lounsbury at 11:36 PM | Comments (0) | TrackBack
January 19, 2007
Iraqi Factories Arty
It becomes tedious in some ways to constantly harp on the sheer, mind-numbing incompetence of the Bush Administration (and in its own way, the Poodle's complicity in enabling such), however articles like this constantly remind me of the utter idiocy.
What is most painful is the degree to which this Right Bolshevism has given ammunition (rhetorically, not fundamentally factually) to attack free markets, etc. in a Naomi Klein sort of fashion.
Of course, the arty, on reviving the Iraqi state factories, includes this more depressing note:
There are also serious questions on whether officials in the focus of the United States presence in Iraq, within the fortified Green Zone in Baghdad, are ready to support factories that were seen as no more than relics of an era that American ingenuity and reconstruction were going to make forever obsolete.
I am sure. Bolsheviks live in a fantasy world.
Posted by The Lounsbury at 07:58 PM | Comments (2) | TrackBack
January 16, 2007
American MENA Public Diplo profile
A serviceable article from The Financial Times on Karen Hughes.
Continue reading "American MENA Public Diplo profile"
Posted by The Lounsbury at 05:47 PM | Comments (4) | TrackBack
January 12, 2007
Further image problems notes
Where to start?
In the full basket of bad news, it is hard to know where to start.
It strikes me that this editiorial from the bland Gulf News rather captures what has become a universal frustration in the region, in response to the reports the US is scheming to use the Siniora government to tackle Hezbullah, likely of course but most unwelcome leaking for said recipient. Or the terrible optics of Somalia with the idiocy of air strikes in the midst of villages and the like neither have the tactical nor the strategic effect presumably intended, although they do achieve a brilliant effect of making the al-Qaeda and other opponents of America look spot-on correct in their claims that the US prefers chaos and death for Muslims.
Nor does the raid on Iranian quasi-consular sites, sites duly organized with Iraqi entities help attenuate the image of the US as a blundering, incompetent bull in a chinashop, lashing out withour regard to friendly interests.
It is no wonder the sober Financial Times calls the latest American ... well policy seems to be granting the idiocy too much dignity, reaction then, the latest reaction Surge towards debacle in Iraq and MidEast.
Continue reading "Further image problems notes"
Posted by The Lounsbury at 06:35 PM | Comments (3) | TrackBack
Postively depressing
Entre Somalia and Iraq, and then generally the Middle East, I am positively discouraged. Even writing something outraged at the Americans capacity to achieve collosally stupid own goals escapes me of late.
It makes the naive reaction of the US diplo a few days ago sadder and more pitiful.
Posted by The Lounsbury at 04:07 PM | Comments (0) | TrackBack
January 10, 2007
Naivete, oh so naive these Americans who are unloved...
I had lunch today with a US diplo who likes to talk to me for financial sector intelligence in MENA (I presume said diplo gets to write blisteringly interesting cables back to Washington about such things).
I sometimes even get snippets of intel for meself (good to know if a certain firm has been in town with US Emb. assistance prospecting etc), and at least a lunch (although most tediously they can't buy alcohol, bloody puritans).
I was amused, in my convo, to get a reaction of shock - actual genuine shock - when I declined to intro to some local financiers because I felt they'd react badly to a US Gov contact.
(The image supra is from the online edition today of a Maghrebine business daily - I use it here to illustrate merely the image problem the US faces. The topic was business, but the imagery, Sadaam.... Unfair, but there it is.)
Continue reading "Naivete, oh so naive these Americans who are unloved..."
Posted by The Lounsbury at 12:13 PM | Comments (5) | TrackBack
January 05, 2007
The Burning Issue in the Middle East That Will Resolve All Conflict
Properly designed public and quasi public restrooms that can (i) be properly maintained by sub-literate peasant cleaning staff with only the vaguest acquaintance with the restroom concept, (ii) be used for the various required abulatory pre-prayer functions without forcing said devote praying people into odd contortions such as washing their feet in the same sink I want to use to wash me face, (iii) for men, ideally with urinals that are at once functional, marginally water efficient and set a height that a reasonably constructed male can use without untoward events.
Continue reading "The Burning Issue in the Middle East That Will Resolve All Conflict"
Posted by The Lounsbury at 04:00 PM | Comments (6) | TrackBack
January 02, 2007
Arab Reform & Aid - analysis question
I rather accidentally ran across this item that appears not to have garnered much attention in the press to date, Arab Reform & Foreign Aid: Lessons from Morocco (or see direct: the CSIS PDF itself).
Having read it, I wonder if readers think a small Aqoul colloq. might be interesting, playing off of this and perhaps other recent online pubs readers might suggest.
[nb: links should be fixed now]
Posted by The Lounsbury at 02:04 PM | Comments (1) | TrackBack
And I wonder if this is an intefada in Paris
Perhaps it is unkind of me to mock the ignorant rubes in the US who constantly shriek on about "Eurabia" and other Islamophobic hysteria-phrasing, but perhaps if this article was retitled as 'Muslims youths torch cars' (Muslim of course in such context in France meaning most any non-euro descended youth with a "brown-black" racial cast, regardless of actual ethnicity and religion, commonly refered to as immigrant of course, even if born to 3rd generation parents).
Posted by The Lounsbury at 01:59 PM | Comments (0) | TrackBack
January 01, 2007
Happy New Year, New Month, New Year Thread
Ancient tradition, and a new year. The Lounsbury / Collounsbury enters 2007 with rather limited optimism for Western policy in the MENA region, but nevertheless some optimism remains.
Let this thread, then, be my welcome to 2007 and an open thread for comments, inquiries and the like.
Continue reading "Happy New Year, New Month, New Year Thread"
Posted by The Lounsbury at 12:26 AM | Comments (4) | TrackBack
December 31, 2006
In Lighter Moments
In watching TV last night one of the very young cousins, on seeing the video of Sadaam's execution, yelled out, "haouli1, mistaking Sadaam for a sheep.
It was quite amusing.
Of course the little fellow I think has only just learned the word.
Posted by The Lounsbury at 06:05 PM | Comments (0) | TrackBack
December 30, 2006
Ill Framed Concern: Always "Islamist" if it is bad
I ran across this arty in Yahoo, poorly done as it is, Morocco's Christian converts irk the world of Islam including a title that puzzles since it's only about Morocco (world of Islam?).
The essence of the article is the tiny thimbful of converts to Xianity are opporessed, and does the usual "liberal" versus Islamist contrast.
Continue reading "Ill Framed Concern: Always "Islamist" if it is bad"
Posted by The Lounsbury at 05:30 PM | Comments (4) | TrackBack
December 28, 2006
Venture Bank & MENA VC investment
Starting a new category of commentary that might hive off one day, I thought I would share this odd bit of news from the Khalij Times on Bahrain's queer new entity the Venture Capital Bank [an oxymoron really, but what can I say, Machreqi Arab usage in English is usually painful], (well if one can call things published in the Gulf newspapers 'news' in any meaningful sense, perhaps regurgitated PR...Reg-PeR. My new jargon, Reg-PeR news).
Taking the essentials,
DUBAI — Bahrain-based Venture Capital Bank (VC Bank) has announced the first closing of its recently launched $250 million MENA Small & Medium Enterprises Fund, the first Shaiah-compliant fund dedicated to small and medium enterprises in the Middle East and North Africa region.Co-managed by VC Bank and its technical partner, the US private equity firm Global Emerging Markets (GEM), the fund has raised more than the targeted amount for first closing of $75 million. Out of the total amount raised, almost 20 per cent has been committed by investors from USA.
I personally doubt the Fund will actually invest outside Gulf plus Egypt plus Jordan, knowing how the Gulf based funds generally work. Announced first closing at 75 million USD. Interesting part is they claim to have raised 20% from US investors.
Which US investors, well I am sure that is not disclosable.
Continue reading "Venture Bank & MENA VC investment"
Posted by The Lounsbury at 11:49 AM | Comments (2) | TrackBack
December 27, 2006
Somalia: Appearances and Decisions
It is difficult to determine what precisely is occurring in Somalia with the Ethiopian intervention - which strikes me as rather typical of the Zeneoui government adventurism (as in Eritrea) - but the reports from the US media such as the Washington Post leads one to suspect that Ethiopian adventurism (combined with some real but limited security threat) is being egged on and supported by the Americans who are likely pointlessly giving themselves a black eye backing a government of feuding warlords over the Islamists.
Bad optics at best, probably a fundamental error - presuming that the reporting holds up.
Posted by The Lounsbury at 07:47 PM | Comments (10) | TrackBack
December 08, 2006
France 24: New player in the Sat News Game
Long planned the trilingual France 24 station is up and running I shall follow this as closely as possible, but another international player is interesting even if it is a very crowded market.
Posted by The Lounsbury at 01:57 PM | Comments (14) | TrackBack
Poodle Bis: Servile Foolishness
I see the Poodle is still humping Bush ibn Bush, the Cretin hereafter's leg. Pity.
I await with impatience a Conservative government, but it is a pity the avalanche of realism has not jerked either the Cretin or the Poodle into reality.
Posted by The Lounsbury at 10:06 AM | Comments (16) | TrackBack
December 05, 2006
Flocking to Sukuk... well, maybe
The Financial Times has a moderately interesting article on the supposed flocking of Western investors to the sukuk market.
I am skeptical that the end buyers are in fact 'Western' but I was amused by the framing at the opening, with its perhaps unintentional, but certainly very clever accuracy as to reality, if adopting the double-language of the Islamist take:
Continue reading "Flocking to Sukuk... well, maybe"
Posted by The Lounsbury at 01:36 PM | Comments (0) | TrackBack
December 04, 2006
Bolton Pisses Off - Good Bloody News
Good news, although as usual the Bush ibn Bush manages to undertake the clean up in a clumsy, ungraceful manner that neither looks credible nor even leverages the moment.
Sadly the US President's comportment underlines his personal incompetence and inability to live up to the historic situation his own incompetence created. Worse than a mediocrity, an incompetent mediocrity who believes himself Theodore Roosevelt or Churchill.
Posted by The Lounsbury at 08:33 PM | Comments (1) | TrackBack
December 02, 2006
Agitprop Blogs: Or Does It Explode
For a rather long time I believe eerie has had the blog, "...Or Does It Explode?' on the aggregator. For just about as long, I have rather not been taken with the same, for all its purported focus on "Civil Right" in MENA - a claim I would say is bollocks. Today, however, a post took me over the edge (and not only me, as another commentator - unless deleted - shows).
Continue reading "Agitprop Blogs: Or Does It Explode"
Posted by The Lounsbury at 11:17 PM | Comments (2) | TrackBack
October 10, 2006
Soup Operas
Drawing attention to an amusing arty in the FT on the annual Soup Opera scandals. I previously was interested in the Tash Ma Tash Soup Opera, although initially for its sardonic imagery re the 'War on Vague Abstractions in the Place of Concrete Policy'.
Continue reading "Soup Operas"
Posted by The Lounsbury at 11:00 PM | Comments (1) | TrackBack
October 08, 2006
Al Hurra and Market Driven Advice
Related to Tom's recent note on the TV in the Middle East, our old Aqoul amigo Abu Aardvark has some Advice for al-Hurra which I found quite on point, being at once driven by a good understanding of American interests and the media market in region.
I am sure longer term readers will recall some commentary back in the old livejournal days regarding the supposed al Jazeerah privatisation and related Arab Media Policy. Some simple minded commentators cheered without understanding the media market.
The Father of Aardvarks has what I consider rather savvy market-oriented advice, which I am sure this current American Administration will not heed, despite their faux-Conservatism with their magical Right Bolshy inclination to unrealistic Bolshy type transformationalism. Real, honest market driven evaluations and pragmatic market driven policy utterly escapes them.
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Posted by The Lounsbury at 07:31 PM | Comments (2) | TrackBack
October 07, 2006
Mr Straw & The Niqab
It appears that For. Sec. Straw's comments on the Niqab, the face veil, have set off a bit of a storm. From The Financial Times to The Times coverage of his original comments regarding prefering women not wear the face veil as divisive through to coverage of The Poodle's craven and inconsistent pandering and on to coverage (the sooner he is gone the better, I await with impatience The New York Times (but British official, I am come on, how about Brit For. Sec.?).
I am not sure if that is good or bad, but it bears some commenting on. First, when I first saw the comments I wasn't sure if he meant the hijab, which would have been annoyingly tedious, or the niqab, which I agree with. I am pleased to see it is about the covering of the face. There is a vast and important difference between the ninja get-ups that are so very Saudi Wahhabite neo-Islamic rot, and a woman covering her hair with a scarf.
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Posted by The Lounsbury at 05:32 AM | Comments (3) | TrackBack
October 03, 2006
On Nation Building & American Magicalism
Prompted by an somewhat typical George Will column, The Leaders [Americans] Have
Aside from this amusing closing (whose connexion with the remainder of the opinion piece is a bit obscure)
"Where's the leader?" Bush, according to Woodward, has exclaimed in dismay about the Iraqi government's dithering. "Where's George Washington? Where's Thomas Jefferson? Where's John Adams, for crying out loud?" For a president to ask that question about Iraq, that tribal stew, is enough to cause one to ask it about the United States.there is Will's foolish comment:
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Posted by The Lounsbury at 04:33 PM | Comments (6) | TrackBack
October 02, 2006
Tariq Ramadan
Tariq Ramadan has an interesting Op Ed on his effective banning from the United States. The Right Bolsheviks seem to be like the old Left Bolsheviks.
Posted by The Lounsbury at 12:11 AM | Comments (16) | TrackBack
September 26, 2006
The MBC cartoon
Fellow Arab Sat watchers, can someone tell me the name of that Ramadan cartoon on MBC that just started running, the one with the evil US empire bombing and snatching innocent schmoes?
Caught it twice now.
Posted by The Lounsbury at 11:46 PM | Comments (2) | TrackBack
September 25, 2006
Decisions, not faux decisions. Alternatives, not faux alternatives
Normally the blog, the atrociously named but nevertheless readable Glittering Eye does not irritate me sufficiently to post something on it. However, today it did. Plus I have Ramadan insomnia.
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Posted by The Lounsbury at 10:29 PM | Comments (7) | TrackBack
US Air Travel
Have to fly shortly to the US of A for some business. Would rather not, but there it is.
Can anyone direct me to a current summary of the idiotic American regs designed to give pants wetters a false sense of security while inconveniencing the maximum number of persons possible?
Posted by The Lounsbury at 09:47 PM | Comments (7) | TrackBack
August 26, 2006
German Steel & Transaction Costs
The operation buying my new German Steel is taking far too fucking long.
First, there was the idiocy of the American correspondant that froze my funds when some semi literate bank functioniary panicked over the cash being transferred to a suspect country.... Once resolved, now I am lost in the intricate idiocies of the local bureacracy which render any transaction 30 times more complex than necessary.
It's the sort of operation that underlines the idiocy of the Stiglitz's in their ivory tower attacks on globalisation and celebration of statism.
Posted by The Lounsbury at 08:49 PM | Comments (17) | TrackBack
August 24, 2006
Joint Ventures & Coops: Reflexions in real estate and coops in MENA
My side Joint Venture has given me the keys into experience and personal fashion the intricacies of communal property practices in MENA, and outside the context of a multinational with all kinds of influence and the like to throw around, but rather in the context of being a weak foreign investor without corporate structures. While surprising, the experience has highlighted the sometimes incredibly irritating but always illustrative of under-development incentives and practices in ways that have been somewhat intriguing.
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Posted by The Lounsbury at 09:26 PM | Comments (0) | TrackBack
August 16, 2006
The Lebanon Debacle First Lessons
Lessons may be to big a word, perhaps "preliminary observations approaching lessons" would be better.
The most remarkable item from this fiasco is the manner in which the current American administration unerringly executes near-perfect bicycle-kick own-goals. It's breathtaking in its consistency, and the sheer deluded pig-headedness of it all. Only a year or two I passed over in polite silence or sneered at American Left whinging on that the Bush Administration is the worst in living memory; I confess I am sliding towards a similar opinion now in light of the simply extraordinary incompetence on display and the bizarre inability to learn from its own goals. The "Neo-Con" block is truly Bolshevik in its elevation of its ideological precepts over all fact and ample evidence of failure of its most radical precepts.
The night before last in particular in watching on one of the arab sats the Bush speech with my partner and friends I was Almost taken aback by the depth and intensity of the reaction to his speech, and this among, as I noted at Lounsbury, a crowd tending to the liberal (free market) and not typically anti-American (my JV partner being the sole person who I might characterise as "pro-American" at some level) but certainly typically pro-West. Bankers and the like.
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Posted by The Lounsbury at 09:14 PM | Comments (1) | TrackBack
August 13, 2006
And a short echo on cluelessness and navel-gazing
While were I not obliged to spend my time this weekend working on investment performance whanking (obliged meaning, choosing to as the said performance is not in any way related to me Titanic), I would have some amplifications on this note by Billmon with respect to a fine Op Ed in The Washington wondering why US military can't achieve the same street cred as Hezbullah on the ground.
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Posted by The Lounsbury at 06:17 PM | Comments (6) | TrackBack