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Hope, And Fear, as US Gulf Allies Look to Trump

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  • Hope, And Fear, as US Gulf Allies Look to Trump

US Gulf allies are looking at Donald Trump to tilt Washington in their favour, analysts say, but fear a dangerous void if the incoming president goes so far as to tear up the Iran nuclear deal.

Still fuming after the nuclear agreement was brokered over their objections, Saudi Arabia and its fellow Sunni Arab states in the Gulf hope Trump will rebalance ties at the expense of their regional rival Tehran.

Washington’s traditional allies in the Middle East are concerned, however, over the potential uncertainty of a radical move to go back on the deal with Iran.

“Eight years of (President Barack) Obama’s administration destroyed the balance of power in the region completely,” says Mustafa Alani, a senior adviser to the Gulf Research Centre.

Gulf states “hope now that under Trump the regional balance of power is going to be restored” after Obama “just ignored Iran’s expansionist policy” in the Middle East, Alani says.

The oil-rich Gulf states have been highly critical of the nuclear deal, fearing it would lead to more regional “interference” by Tehran.

The Sunni Gulf monarchies oppose predominantly Shiite Iran in a range of conflict-ridden countries across the Middle East, from Syria and Iraq to Yemen and Lebanon.

Trump has also opposed the agreement, which lifted sanctions in exchange for curbs on Tehran’s nuclear programme.

He called it the “worst deal ever negotiated”.

‘Huge new uncertainty’ –

The deal is a centrepiece of President Hassan Rouhani’s expected re-election bid in May, and experts say Tehran is unlikely to be willing to make any concessions to Trump.

“If the Trump administration takes a strong stand and the Iranians refuse, the agreement collapses and there is no replacement,” Alani says.

Given the potential for uncertainty, many experts expect the deal to survive, despite Trump’s rhetoric.

“I believe all the Gulf states will counsel Trump to maintain the agreement rather than introduce a huge new uncertainty into the region,” says Richard LeBaron, an analyst associated with the Atlantic Council in Washington.

Trump may “choose to live with” the Iran accord and focus “on other aspects of the Iranian threat like its missile build-up”, says Anthony Cordesman, of the Center for Strategic and International Studies in Washington.

Analysts say Trump is likely to rebalance relations in other ways, however.

Cordesman noted that three figures known for their distrust of Tehran figure prominently in Trump’s team.

They are retired lieutenant general Michael Flynn, national security adviser; retired Marine general James Mattis, nominated as defence secretary; and former ExxonMobil chief executive Rex Tillerson, Trump’s choice for secretary of state.

“All three see Iran as a serious potential threat, recognise the strategic importance of Iraq, and the role Arab states play in deterring Iran,” Cordesman says.

Strained Obama ties –

Ties with Obama became especially strained when he suggested in a magazine interview last year that the Saudis needed to “share” the Middle East with Iran.

His criticism of the kingdom for exporting its fundamentalist “Wahhabist” version of Islam also struck at the heart of the ruling family’s legitimacy.

Saudi Arabia is regularly accused in the West of financing radical mosques and of fuelling extremism, even though the kingdom is part of a US-led coalition against the Islamic State group in Syria and Iraq.

Such concerns could impede Gulf ties with the new administration, which has faced accusations of Islamophobia over comments made by incoming officials including Trump.

During the campaign he proposed a temporary ban on Muslims entering the United States.

“There is a lack of understanding” in the Trump team “of the Gulf’s effort” against radical Islam, Alani says, noting that Gulf states have themselves suffered attacks.

For LeBaron, “the targeting of Muslims as the source of the security problem will inevitably darken Saudi-American relations”.

Another stumbling block may come in the form of energy policy, a crucial question for the Gulf and Saudi Arabia, the world’s largest oil exporter.

Trump will certainly be “very favourable to the development” of shale oil and gas in the United States, says Jean-Francois Seznec of the Atlantic Council’s Global Energy Center, putting Washington in potential conflict with Gulf producers.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Lagos Eyes Investment Surge as Sanwo-Olu Unveils Growth Strategy

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Governor Babajide Sanwo-Olu of Lagos State is spearheading a bold push to attract significant investment inflow to boost the state’s economic growth.

During a Pre-Summit Investor Roundtable at the Africa Social Impact Summit (ASIS 3.0), held at Eko Hotels and Suites, the governor outlined strategic opportunities for investors.

With the theme “Invest Lagos – Investment Opportunities,” the summit was organized by the Sterling One Foundation in collaboration with the Ministry of Commerce, Cooperatives, Trade, and Investment.

Attended by business leaders, chambers of commerce, and industry captains, the event underscored Lagos’ potential as a hub for economic activity.

Sanwo-Olu highlighted Lagos’ positive economic outlook, citing an expanding population and sustainable infrastructure as key growth drivers.

Despite challenging business environments, the state’s economy has shown resilience, welcoming new investments while sustaining existing ones.

The governor emphasized reforms aimed at improving the ease of doing business. He mentioned that digitizing services had reduced bureaucratic hurdles, fostering a stable business climate.

Sanwo-Olu assured potential investors of the state’s commitment to creating a supportive environment that ensures returns and security for investments.

“In the last five years, Lagos’ GDP has grown by 50 percent,” Sanwo-Olu stated. “We aim to sustain this growth and ensure the gains of the past years are not reversed.”

Sanwo-Olu identified sectors ripe for investment, including transportation, tourism, health insurance, and waterways. He expressed the government’s dedication to advancing development plans in these areas.

Commissioner for Commerce, Cooperatives, Trade, and Investment, Mrs. Folashade Ambrose-Medebem, highlighted Lagos’ economic strides, noting that the state’s GDP had increased from N27 trillion to N41 trillion in five years.

She detailed strategic investments, particularly the allocation of N550.7 billion for infrastructure in 2024, and the commitment of N44.33 billion to food security initiatives.

Sterling Bank’s Managing Director, Mr. Abubakar Suleiman, pointed out that economic growth in Africa is often hindered by an unstable investment climate.

The summit aimed to build investor confidence by fostering trust and transparency in business environments.

“Lagos remains a leading destination for investors,” Suleiman noted. “The state provides clarity and access to markets, maintaining consistency in its investment strategies.”

Sanwo-Olu’s administration continues to focus on diversifying Lagos’ economy through strategic investments in various sectors.

The state’s proactive approach has positioned it as a global city and an emerging African financial center.

The governor’s initiative is expected to further solidify Lagos’ reputation as a prime investment destination, paving the way for sustained economic growth and development.

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Vice-President Harris Gathers Momentum as Democratic Nominee

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Vice-President Kamala Harris has secured the support needed to become the Democratic nominee for president.

This was after President Joe Biden announced he would not seek re-election, endorsing Harris as his successor.

According to CBS News, Harris has received endorsements from over 1,976 delegates, surpassing the threshold needed to clinch the nomination in the first round of voting at the Democratic National Convention (DNC) scheduled for August.

Delegations from at least 27 states have expressed full support, showcasing a strong backing across the nation.

In her address to campaign staff in Wilmington, Delaware, Harris expressed gratitude for the widespread support, adding that she committed to uniting the party and the country.

“We have 106 days until Election Day, and in that time, we have some hard work to do,” she stated.

Harris laid out her vision for America, contrasting it with that of her likely opponent, Donald Trump.

Speaking on the direction of the campaign thus far, she said “Our campaign has always been about two different versions of what we see as the future of our country. One focuses on the future, the other focuses on the past.”

She acknowledged the accomplishments of the Biden administration, highlighting her pride in serving as vice-president.

“My time serving as vice-president was one of the greatest honors of my life,” Harris said, underscoring her dedication to continuing the work they started.

In a phone call to his campaign team, Biden praised Harris, urging his supporters to rally behind her. “I’m hoping you’ll give every bit of your heart and soul that you gave to me to Kamala,” he said.

Despite stepping back from the race, Biden vowed to remain actively involved in supporting Harris and emphasized the importance of defeating Trump, calling him “a danger to this nation.”

Harris’s nomination marks a significant milestone, but challenges remain. The campaign will focus on addressing key issues such as healthcare, climate change, and economic inequality.

With millions of dollars pouring into her campaign since Biden’s announcement, Harris aims to capitalize on the momentum and build a coalition that appeals to a broad spectrum of voters.

As the DNC approaches, Harris is expected to formally accept the nomination, solidifying her position as the Democratic leader.

The coming months will be crucial as she works to unite the party and reach out to undecided voters. With her historic nomination, Harris stands poised to make a lasting impact on the future of American politics.

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President Declines Nomination, Endorses Harris for 2024

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In a significant political announcement on his X.com account, President Joe Biden has decided to forgo the opportunity to seek re-election in 2024, instead throwing his full support behind Vice President Kamala Harris.

The surprise move, shared with the public this morning, represents a pivotal moment in the Democratic Party’s journey toward the upcoming presidential election.

In his statement, Biden said that his choice to step aside is driven by a desire to concentrate on his remaining duties as President.

He expressed gratitude for the opportunity to serve alongside Harris, calling her selection as his Vice President in 2020 “the best decision” he has made. “My fellow Democrats,” Biden began, “I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term.”

The President’s announcement signifies a strategic shift in the 2024 election landscape. By endorsing Kamala Harris, Biden not only aims to consolidate support within the party but also to set the stage for a unified front against former President Donald Trump.

“Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year,” Biden declared. “Democrats — it’s time to come together and beat Trump. Let’s do this.”

This endorsement comes as a surprise to many, given Biden’s earlier commitment to seeking re-election.

However, it reflects a broader strategic maneuver to ensure party unity and strengthen the Democratic position in the face of a formidable opponent. By focusing on Harris, Biden aims to leverage her growing popularity and political acumen to fortify the party’s chances in the upcoming election.

Kamala Harris, who has served as Vice President since January 2021, will now be thrust into the spotlight as the presumptive Democratic nominee.

Her campaign is expected to build on the legacy of the current administration while addressing key issues facing the nation.

The move also raises the stakes for the Republicans, who will need to prepare for a robust campaign from a seasoned political leader in Harris.

As the 2024 election cycle ramps up, Biden’s endorsement is likely to reshape the dynamics of the race, influencing both Democratic strategies and Republican responses.

The coming months will be critical as Harris and her team work to solidify their platform and rally support from voters across the nation.

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