Tribute to Sheikh Dr Abdul Sattar Abu Ghuddah
Join us in the grand virtual gathering of some of the leading scholars of the Muslim Ummah as they will meet on line to pay tribute to Sheikh Dr Abdul Sattar Abu Ghudda (may Allah SWT Blessings be with him). He has passed away last Friday.
Main Speakers:
Mufti Muhammad Taqi Usmani (Pakistan)
Mufti Ahmad Al-Khalili (Oman)
Sheikh Dr. Muhammad Zuhaili (Syria)
Sheikh Dr. Nazih Hammad (Canada)
Sheikh Dr. Ahmed al Haddad (UAE)
Sheikh Dr Ojail Al-Nashmi (Kuwait)
Sheikh Dr. Ali Elgari (Saudi Arabia)
Sheikh Dr. Nizam Yaqubi (Bahrain)
Sheikh Dr. Mohd Daud Bakar (Malaysia)
Please register and join us. It will be on Saturday 31st October at 3 pm UAE time .
https://zoom.us/webinar/register/WN_RQriS9qYTO6_IBCUVE2Ibw
The session will be in Arabic and it will be for 60 minutes.
Last few days, I have written a small write up as a tribute to the late Sheikh Dr Abdul Sattar Abu Ghuddah. This time around (i.e. this Saturday at 3pm UAE time) his colleagues (and my teachers) from many parts of Islamic world will be paying tribute to his soul.
Join us on this Saturday.
May Allah the Most Compassionate bless and forgive his soul.
"Every person will taste death" (al-Imran: 185)
MDB
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Continue ReadingKuwait case study. Oil rich country but money is running out / by investman
Kuwait, one country in the Middle East region.
Rich from occupying oil resources for a long time.
But you know, Kuwait is in big trouble today.
Well, the country's reserve funds are running out.
What happened to Kuwait? Invest man will tell you about it.
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Kuwait is an Asian country in the Middle East region.
Which is an abundance of oil resources.
In 2019, Kuwait had a GDP value of 4.3 trillion baht and a population of 4.4 million people.
Make GDP per capita of Kuwait population equal to 977,000 baht.
4 times more than GDP per head of Thai people.
Kuwait has an area of 17,818 square kilometers, which is about 30 times smaller than Thailand.
Despite being the world's 152th small country.
But Kuwait is the world's 6th most crude resource country.
And one of the country members who expired oil (OPEC)
Kuwait has a crude oil reserves up to 101,500 million barrels. This amount is estimated to be 6 % of the world's crude oil reserves.
If crude oil prices are around $ 40 per barrel, Kuwait's crude oil reserves will be worth 128 million baht.
When things are like this, it means
Oil resources are highly important to Kuwait economy.
Year 2019 Kuwait's crude export revenue is worth 1.5 trillion baht.
In which such value is considered.
90 % of Kuwait's total export income
90 % of Kuwait government income
And 35 % of GDP, Kuwait
In 2016
Anas Al-Saleh, Kuwait's finance minister in those days, warns the government to lower the country's expenditure budget to be prepared for a moment when petrol prices will fall in the future.
But his warning is right. Many people laugh at me.
Because most people believe that the country will continue to earn massive oil exports income.
After that, come on
During the 2016-2018 s, crude oil prices continue to adapt.
It's something that makes many people confident that Anas Al-Saleh warnings won't happen.
But then the emergence of the trade war between US and China in 2019 begins to pressure the global oil demand to slow down.
And the incident started worse than that
When the world later, the COVID-19 outbreak begins.
Plague plague making global travel and production drops.
The global oil demand is reduced from the same.
Besides, there's a fuel war between Saudi Arabia and Russia that both of them won't reduce their production capacity. The oil prices are increasingly adapting.
2018 Dubai crude oil prices average $ 70 per barrel
2019 Dubai crude oil prices average $ 64 per barrel
While the first 6 months of 2020, the average Dubai crude price is only $ 41 per barrel.
What happens is income from crude oil exports
90 % of Kuwaiti government income is greatly reduced.
Make the government not enough money to pay for public sector employers.
At present, more than 80 % of Kuwait people, or around 3.5 million people work as government employees.
Make government spend money in country's reserve funds during the 3 months after COVID-19 outbreak. The fund has gone down to over 411,000 million baht.
Which if crude oil prices don't rise from the same.
It will only make Kuwait government pay for public sector employees until November this year.
Enough is like this next year, Kuwait government needs to make a budget deficit.
Which will cause budget deficit to the level of 1.4 trillion baht
Thinking about a deficit, increasing almost 3 times more than the 2019-2020 fiscal year.
And the budget deficit is the 7th year in a row since 2014
What's worrisome is if the government needs to borrow money.
Among lower oil prices, Kuwait may earn enough oil export income to pay back the loan.
Make it now Kuwait has to have a concept of country reform.
Under Vision 2035 slogan: New Kuwait
The point is that it's important to try to reduce oil industry revenue reliance on revenue.
Which is to follow how much Kuwait's long-term plan this time will accomplish.
From this story preview of Kuwait country
It's something to remind us whether it's a country, corporation or individual.
Being too dependent on income in any way is a high risk.
Like this case, Kuwait relies on income from crude oil exports up to 90 % of export income.
If one day the main income drops or disappears.
From a long time ago, I might lose money easily too..
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Follow up to invest manly at
Website - longtunman.com
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References
-https://www.pionline.com/economy/oil-rich-kuwait-running-out-cash
-https://oilprice.com/Energy/Energy-General/Kuwait-Is-Running-Out-Of-Money-To-Pay-Public-Salaries.html
-https://www.middleeastmonitor.com/20200820-kuwait-will-not-be-able-to-pay-salaries-after-november/
-https://en.wikipedia.org/wiki/List_of_countries_and_dependencies_by_area
-https://en.wikipedia.org/wiki/Kuwait
-https://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves
-https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)
-http://www.worldstopexports.com/kuwaits-top-10-exports/
-https://fanack.com/kuwait/economy/
-https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=RBRTE&f=M
- Form 56-1 Year 2562, Thai Oil Public Company Limited
-https://www.set.or.th/dat/news/202008/20088082.pdfTranslated
world time kuwait 在 美國在台協會 AIT Facebook 的最佳貼文
「愛台灣,我的選擇」系列第三發💞
💟「我在大學選修華語時,有一本課本就叫做「今日台灣」,但我第一次真正到台灣是來上美國國務院的華語課程。大家都喜歡來台灣學華語,但我想要看得更多,做得更多,所以我後來選擇派駐台灣,擔任經濟組的副組長。經濟組的工作著重於建立美台的經濟關係,這個經濟關係涵蓋各種正在改變世界未來樣貌的領域。我們致力於公衛、資安、數位經濟等議題,並探究如何在印太區域及更廣泛的區域,確保安全的技術,並建立安全的供應鏈。台灣人才輩出,讓我深受啟發,台灣人民就是台灣最大的財富;人才對經濟也非常重要,經濟要能蓬勃發展需要有才華、有創意的人才,而台灣就有這樣的人力資源。我曾經在投資銀行、國際開發和財金等產業工作過,所以我很希望能以我對金融業發展的觀察,協助台灣和美國的新創公司獲得創投資金,進而改變後代與數位科技互動的模式。除了專業上的興趣之外,我也熱愛大自然,我認為人類應該要與大自然有所連結,而台灣就有這樣的自然環境。我一直以來都很想觀察野鳥,但我早上常常爬不起來,可是在台灣就不必早起了,因為每天都有各式各樣美麗的鳥兒飛到我陽明山上家裡的後院!」
⭐️邵藹帝女士是名資深美國外交官,目前擔任美國在台協會經濟組副組長。在此之前,邵藹帝女士曾於美國駐上海總領事館負責推動美國經濟政策,並曾於華府任職於美國國務院的南亞及中亞事務局,以及美國駐科威特大使館。在擔任外交官之前,邵藹帝女士曾於香港及紐約的投資銀行任職,她也曾於世界銀行在印度的國際金融公司擔任顧問。邵藹帝女士先後於美國約翰霍普金斯大學取得學士學位及高級國際研究學院碩士學位。她來自伊利諾州,通曉中文、阿拉伯語及印度語。
Why I Chose Taiwan #3
💟"When I started studying Chinese as an undergrad, we had a whole book on Taiwan Today. The first time I actually came to Taiwan was studying Chinese with the State Department. Everybody loves coming here for language, but I wanted to see and do more. That’s what brought me back this time around, as the Deputy Director of the Economic Section. We focus on building up the U.S.-Taiwan economic relationship, which spans across so many different areas that I think are changing the future shape of the world. We are focused on health, cyber issues, digital economy, how do we ensure that technologies are secure, how do we build secure supply chains throughout the Indo-Pacific, and more. Taiwan has such talented people, and so that really inspires me. Taiwan’s people are its greatest asset. For the economy, you really need talented, creative people, and they are here in Taiwan. I have a very eclectic background in investment banking, international development, finance, and so how do I tap into the way I’ve seen financial industries develop to help Taiwan and the U.S. now get venture capital funding for future startups that are really going to change the way that our kids interact with the digital world? Aside from my professional interest in Taiwan, I love nature, I think it’s really important that humans have a connection with nature, and Taiwan provides that. I’ve always wanted to be a bird-watcher but I’m not good at waking up early in the morning to go out looking for birds. But here I don’t need to, because there are always all different kinds of beautiful birds that come to my own back yard in Yangmingshan!"
⭐️Arati Shroff is a career U.S. diplomat and is currently the Deputy Economic Chief at the American Institute in Taiwan (AIT) in Taipei. In her previous overseas assignment, Arati advanced U.S. economic policy at U.S. Consulate Shanghai. She has also served in the U.S. State Department’s Bureau of South and Central Asia in Washington D.C., at U.S. Embassy Kuwait. Prior to her diplomatic career, Arati worked in investment banking in Hong Kong and New York. She was previously a consultant with the World Bank’s International Finance Corporation in India. Arati earned a B.A. from the Johns Hopkins University and an M.A. from the Johns Hopkins School of Advanced International Studies (SAIS). Originally from the state of Illinois, Arati speaks Chinese, Arabic, and Hindi.
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