Apr 6th 2019

Politics this week

Politics this week

After 20 years in power and weeks of mass protests, Abdelaziz Bouteflika, Algeria’s ailing president, resigned. The announcement sparked celebrations in the capital, Algiers. Some fear that the old guard will try to hang on to power. Abdelkader Bensalah, the Speaker of the Senate (and a Bouteflika loyalist), is next in line as president, according to the …

Business this week

Business this week

In a prospectus published ahead of a huge bond sale, Saudi Aramco revealed for the first time how much money it makes. Saudi Arabia’s state oil firm reaped $356bn in revenues last year. Annual net profit came to $111bn, almost twice that of Apple, the world’s most valuable listed company. The prospectus also confirmed how important Saudi …

Welfare in India A better anti-poverty plan for India

Welfare in India A better anti-poverty plan for India

Indian politicians are promising more cash for the poor. They should be less selective GOOD KING WENCESLAS thought of the poor when the weather turned cold. Election season has the same effect on India’s politicians. With national polls looming in April and May, the two main political parties are competing to shower money on the indigent. …

European banks Fixing Europe’s zombie banks

European banks Fixing Europe’s zombie banks

How to deal with poor performance, defeatism and complacency IS THERE ANY more miserable spectacle in global business than that of Europe’s lenders? A decade after the crisis they are stumbling around in a fog of bad performance, defeatism and complacency. European bank shares have sunk by 22% in the past 12 months. Deutsche Bank and …

Bombs astray How many civilians does America kill in air strikes?

Bombs astray How many civilians does America kill in air strikes?

The Pentagon does not really know AMERICA HAS conducted 108 air strikes in Somalia since 2017, killing some 800 people. The Pentagon says they were all jihadists. Amnesty International, a human rights organisation, disagrees. It has gathered detailed evidence suggesting that five recent strikes alone killed 14 civilians. That discrepancy between the civilians that external observers …

A welcome shrug Gay mayors? Who cares?

A welcome shrug Gay mayors? Who cares?

The success of gay politicians completes a rapid change in social attitudes IT MADE FOR an awkward first-date conversation. Pete Buttigieg, the mayor of South Bend in Indiana, recalls that he and Chasten Glezman talked about how he would be seeking higher political office. How would his boyfriend-to-be—now husband—feel about the public scrutiny? And how might …