The Daily Brief: UAE Signs Record Arms Deal of $19 Billion With France
On the first day of a two-day visit, French President Emmanuel Macron signed a deal that will allow the UAE to acquire 80 Rafale fighter jets and 12 military helicopters
While visiting the Arab Gulf, French President Emmanuel Macron signed the largest-ever overseas deal of Rafale jets with Abu Dhabi’s Crown Prince, Sheikh Mohammed bin Zayed Al Nahyan in Dubai on Friday.
Macron stated that “this contract cements a strategic partnership that is stronger than ever and directly contributes to regional stability.”
The record deal is estimated to support at least 7,000 jobs in France and will guarantee a supply chain for French Aviation manufacturer, Dassault Aviation until the end of 2031.
The UAE has been actively acquiring arms for years and is still in talks with the US to acquire F-35’s, however, the US has hesitated to approve the deal due to the UAE’s ongoing relationship with China.
Human rights activists opposed the deal, stating that the UAE will use the acquired arms to commit unlawful attacks or war crimes against Yemen or other countries.
The deal comes as a win for France as Australia recently pulled out of a $66 billion dollar submarine deal with France and chose to sign a deal with the US instead.
I was pleased to welcome French President Emmanuel Macron to the UAE today. We enjoyed productive talks building on the longstanding bonds of friendship and strategic cooperation between our two countries, and witnessed the signing of several new partnerships in a range of fields pic.twitter.com/C3KSH1gyc9
Today, #UAE has officially signed an historic contract for 80 #Rafale. Proud to be part on this cooperation between United Arab Emirates 🇦🇪 and France 🇫🇷 for a long time. pic.twitter.com/NbgvrcQz8i
When French President Macron visits Saudi Arabia and the United Arab Emirates this week, he should be condemning their war crimes in Yemen, not selling them arms to bolster the militaries that are committing those war crimes. https://t.co/3AzD57LsI1pic.twitter.com/4bw4pCuT9m
For the second time this week, the Turkey Central Bank has had to dip into the country’s foreign exchange market to sell dollars to help the crashing lira currency.
The lira crashed an additional 30 percent this week compared to the US dollar as the country continues to gradually slash interest rates with the hopes of becoming a free market independent of short-term foreign cash.
Though Turkish President, Tayyip Erdogan states the decrease in interest rates will help the country in the long term, many companies are scrambling to keep supplies up as imports are affected by the exchange rates.
The policy to lower the Turkish interest rate is expected to ease in January after the interest rate is lowered once more this month, however, economists expect the lira to remain unstable for some time.
As of Friday, Lebanon’s information minister, George Kordahi has resigned hoping to anticipate ease into international relations with Saudi Arabia and other Arab Gulf countries.
Kordahi, who was formerly a well-known game show host, decided to step down before French President Emmanuel Macron visits Saudi Arabia this Saturday.
Macron’s trip to the Gulf will further discuss strengthening cooperation with Saudi Arabia and other Arab Gulf countries and preventing Lebanon’s crisis from further sinking.
The Indonesian Constitutional Court has deemed a 2020 law intended to entice foreign investors as unconstitutional and has given a deadline of two years to correct the flaws found.
Though the recent ruling is considered a win for unions and business owners who challenged the 2020 policy, many were hoping that the law would be permanently suspended and would no longer be valid.
With the law still essentially in effect, workers across Indonesia are now forced to still abide by a law that is deemed “unconstitutional” and undermines job security, wages and violates workers’ rights.
Days before the “Summit of Democracy” hosted by US President Joe Biden is set to begin, China announced that they will be releasing their own report titled, “China: Democracy that Works,” in response.
With China and Russia not invited to the summit, many feel that Biden is creating a global divide between democracies and autocracies.
Chinese officials responded to the “Summit of Democracy” stating their system serves the people of China and highlighted US failings from gun violence and the Janurary 6th insurrection at the US capitol.
According to the US White House, the two day summit aims to “galvanize commitments and initiatives across three principal themes: defending against authoritarianism, fighting corruption, and promoting respect for human rights.”
Memphis Grizzlies won 152-79 over the Oklahoma City Thunders setting a new NBA record for highest margin of victory.
Jaren Jackson Jr. led the way with 27 points for the Grizzlies, who were without their best player but still had 9 players out of 12 scoring in the double digits.
The previous margin was set by the Cleveland Cavaliers in 1991 when they beat the Miami Heat by 69 points.
NBA Record: Margin of victory Franchise Record: Margin of victory Franchise Record: Most points Franchise Record: Most bench points Franchise Record: Assists Franchise Record: FG% Franchise Record: Largest lead Franchise Record: +/- rating (@santialdama) pic.twitter.com/o35jyyTsqc
Born and raised in the Bay Area, California, Faiza is a mother of two with a degree in Psychology and Paralegal Studies. She is passionate about lending her voice to those who are disadvantaged.
US House of Representatives Speaker Nancy Pelosi has landed inTaiwan. Prior to the visit, China’s Foreign Ministry has voiced their disapproval, stating that “China will take resolute responses and strong countermeasures to defend its sovereignty and territorial integrity.”
US Secretary of State Antony Blinken emphasized in response that “The speaker will make her own decisions about whether or not to visit Taiwan,” and that the US is looking to Beijing to “act responsibly and not to engage in any escalation going forward.”
The US has made it clear that members of Congress routinely visit Taiwan and that this trip is non-threatening and has precedent. Even so, some officials have expressed concern that China may invade Taiwan’s air defense zone or send missiles near Taiwan in retaliation.
Pelosi has criticized China’s leadership and vocalized support for Taiwan in the past. She is currently on her tour of Asia, with scheduled visits to Singapore, Malaysia, South Korea and Japan.
The US side needs to fulfill President Biden’s commitment of not supporting “Taiwan independence” and refrain from arranging for a visit by Speaker Pelosi to Taiwan. pic.twitter.com/hK7PKmuLmz
The first shipment of grain departed the port of Odesa on Monday after Russia’s blockade of Ukrainian ports for the last six months trapped around 20 million metric tons of wheat and corn.
Russia recently made a deal with Ukraine, brokered by the UN and Turkey, allowing grain exports to resume, appeasing fears of a global food supply crisis and rising prices.
Ukrainian Foreign Minister Dmytro Kuleba celebrated the shipment, calling it a “day of relief for the world, especially for our friends in the Middle East, Asia, and Africa.”
Ukrainian President Volodymyr Zelensky was more hesitant to celebrate the shipment, stating “it is too early to draw any conclusions and make any forecasts” and he wants to “see how the agreement works and whether security will be really guaranteed.”
Welcome the departure of the first grain shipment from Ukraine & the resumption of the grain trade. Planned departure of more grain should hopefully bring intl. grain prices down, aid humanitarian purchases & have a positive impact on poor people going hungry in poor countries.
The US economy declines for the second quarter in a row, causing, what other countries would consider, an economic recession.
The prices for groceries, gas, and other basics are rising at the fastest pace since 1981. The US Central Bank is quickly trying to raise borrowing costs in order to cool the economy and ease the prices on goods, but with the contraction, at the annual rate of 0.9% in the 3 months to July, many are still getting concerned.
President Biden struggles to convince the public that the economy is sound, with the unemployment rate at a low 3.6%. But with inflation in the US hitting 9.1% in June, the fastest price appreciation in 4 months, consumer spending has slowed at an annual rate of 1%.
Many other countries, such as China and the UK, have been hit harder by the surge in energy prices and the War in Ukraine, causing risks from abroad. Other countries are facing much more serious problems and once they’re hit, their problems can spill over and affect the US.
US Economy in technical recession as GDP shrinks for a second quarter. Q2 GDP fell at a 0.9% annualized rate as inventories, residential investment subtract from growth after a 1.6% decline in the first three months of the year. pic.twitter.com/5cXb6uNyWT
— Holger Zschaepitz (@Schuldensuehner) July 28, 2022
All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.
North Korea could be preparing a seventh nuclear test, especially after Mr. Kim announced that the country is fully ready for any military confrontation with the US at a Korean War Anniversary event.
A US special representative in North Korea states that Jong-Un has tested an unprecedented number of missiles this year—31 to 25. Jong-Un also stated that threats from the US required North Korea to achieve the urgent historical task of strengthening its self-defense.
Jong-un also stated that South Korea is reviving a plan to counter North Korea’s threat by mounting precautionary strikes; in June alone, South Korea launched 8 missiles of its own.
The North Korean regime is especially angry with South Korea’s new president Yoon Suk-yeol and his so-called Kill Chain strategy. This strategy allows South Korea to launch ballistic missiles and air strikes on North Korean targets if it ever feels threatened.
North Korea has also not been getting as much engagement with Washington ever since Biden replaced Trump, and could be hinting at some sort of deliberate escalation by the North, and preparations have been underway at the Punggye Ri test site since March.
All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.
Gazprom, a major Russian energy provider, has stated it will reduce the supply of gas to Germany by half via the Nord Stream 1 pipeline due to repair work.
Germany has said that they see no technical reason for the decrease in gas supply. The European Union continues to accuse Russia of weaponizing energy, with Ukrainian President Volodymyr Zelensky stating, “This is an open gas war that Russia is waging against a united Europe.”
Ukraine and Russia signed an agreement to allow the export of grain via the Black Sea after Russia continued to block millions of tonnes from being exported. The next day, Russia struck missiles at the port, some of which hit the infrastructure of the port.
The US and Ukraine are optimistic that the agreement will still be implemented, with the US State Department stating, “Despite these attacks, we do understand that the parties are continuing preparations to open Ukraine’s Black Sea ports for food and fertilizer exports…we also continue to expect that the Black Sea agreement will be implemented.”
With Nord Stream 1 flowing at just 20% of capacity from July 27, Germany will NOT have enough natural gas to make it throughout the whole winter **unless big demand reductions are implemented**. Berlin will need to activate stage 3 of its gas emergency program #ONGT#EnergyCrisis
Pope Francis traveled to the grounds of a former residential school near Alberta, Canada and formally apologized for the Church’s role in the abuse of indigenous people and erasure of indigenous culture.
The majority of the schools were run by members of the Roman Catholic Church in the late 1800s and 1900s. Around 150,000 indigenous children were sent to the schools and more than 3,000 are estimated to have died.
In his speech, the Pope asked for forgiveness and highlighted the Church’s role in the schools system, stating, “I ask forgiveness, in particular, for the ways in which many members of the Church and of religious communities cooperated… in projects of cultural destruction and forced assimilation promoted by the governments of that time, which culminated in the system of residential schools.”
Indigenous chiefs, survivors of the residential schools, and Prime Minister Justin Trudeau were some of the few in attendance for the Pope’s remarks.
Dear brothers and sisters of #Canada, I come among you to meet the indigenous peoples. I hope, with God's grace, that my penitential pilgrimage might contribute to the journey of reconciliation already undertaken. Please accompany me with #prayer.
Today in Maskwacîs, Pope Francis recognized the abuses suffered in church-operated residential schools – where more than 150,000 Indigenous children were forced to assimilate and lose their languages, cultures, spiritualities, traditions, and identities. pic.twitter.com/ZwUm9k2hdH
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