Word: arabism
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...months ago, Verme was reassigned to London (though he has been promoted to ceo of all Citi's business lines across Europe, the Middle East and Africa, and Citi stresses he is "one of its highest ranking executives globally"). Mohammed al-Shroogi, who headed Citi's United Arab Emirates operations, left in September. In late November, Dubai World, which is a for-profit development company controlled by the ruling family of the gulf state, indicated that it may have to default on a portion of its $60 billion in loans. The rush to Dubai has left Citi on the hook...
Iranian President Mahmoud Ahmadinejad has been "the best recruiting officer" for U.S. military efforts to partner with Arab states over the past year. That's according to General David Petraeus, who as commander of Centcom is responsible for overseeing the wars in Afghanistan and Iraq and security efforts throughout the region. "There were certain countries which used to hold us at arm's length that have over the last year embraced Central Command in certain cooperative endeavors," Petraeus told TIME in an interview on Dec. 13, citing ballistic-missile defense agreements and shared early-warning systems. "Ahmadinejad's rhetoric...
What's been good for Centcom has also been good for the high-tech U.S. arms industry. Despite the global recession, Arab states have signed huge deals for U.S. military hardware, whose sophistication has been on full display in two long wars in the neighborhood. Petraeus said countries in the region now deploy eight Patriot missile-interceptor batteries - up from zero a few years ago - made by Raytheon Corp. And the Pentagon last month announced that Kuwait had ordered upgrades of its Patriot missile system, in a deal worth $410 million. But Raytheon isn't the only beneficiary of anxiety...
Petraeus, in language more blunt than that typically used by Obama Administration officials, lashed out that Iran, "which had become a theocracy, has become a thugocracy because of the hijacked elections and people's response to them." He said Arab hostility toward Iran had helped win support for U.S. strategy in Iraq and Afghanistan. In Iraq, he said, there were almost daily attacks using explosive devices manufactured in Iran, while Tehran was using its leverage to strengthen Iranian influence over Iraq's government. Iran sells about 350 million watts of electricity a day to Iraq. "Iraqis see Iran expanding...
...most immediate flash point in tensions between Iran and its Arab neighbors is Yemen, one of the regions poorest and most unstable countries, where Shi'ite Houthi rebels in the north launched attacks in neighboring Saudi Arabia last month, sparking an air strike by Saudi jets on Houthi territory. U.S. officials say they have no proof that Iran is involved in the Yemen conflict, but deeply suspicious gulf states, including Yemen, are sure Tehran is stoking a potentially explosive war. Yemeni President Ali Abdullah Saleh told TIME last month that the rebels "want to follow the system of Iran...