Global financial system needs a major shake-up
By MOHAMED H. ZAKARIA
Published in Arab News: Aug 14, 2011 23:37
The sinking US dollar and the euro crisis are threatening the world financial system. The US Federal Reserve’s recent decision to keep dollar interest rates near to zero at least for two more years was an unprecedented step, according to some economists. It is also being suggested that the US might be starting to ...
By MOHAMED H. ZAKARIA, published in Arab News - Aug 1st, 2011
Pakistan, a land of lost opportunities
We are fighting a war on terror; this has been the slogan of successive Pakistani leaders since Gen. Zia-ul-Haq dragged Pakistan into the Afghan war against the Russians.
The present Pakistani government is using the same slogan despite the fact that the world knows the reality of the war on terror. If fighting a few thugs w...
By MOHAMED H. ZAKARIA, published in Arab News - July 20th, 2011
THE Kingdom of Saudi Arabia, the largest country on the Arabian Peninsula, and Pakistan, the second largest Muslim state after Indonesia, the world’s two leading Islamic countries, enjoy excellent relations.
Saudi Arabia has always served as the solid foundation for eternal, unflinching and pure bondage of brotherhood and Pakistan is pr...
Mohammed H. Zakaria, Jeddah published in Arab News on 20 March 2006
King Abdullah’s recent statement on the possibility of allowing foreign residents to invest in the Kingdom’s stock market, though widely welcomed, does not mean immediate opening of the door. There is a long way to go before the proposal becomes a reality. It needs a detailed technical and legal debate and complete revision of residency and sponso...
Mohamed H. Zakaria, Jeddah, published in Arab News on 31 March 2006
The recent visit of President Bush to India, his first, is expected to consolidate the newly emerging friendship between the world’s two largest so-called democracies and concluded a landmark civilian nuclear energy cooperation agreement.
It is sad that Pakistani politicians and leaders failed to understand that the real motive of this gener...
Mohamed H. Zakaria, Jeddah published 4 February 2006
Gold as Refuge
The report “Global Liquidity Bolsters Gold”(Jan.16) needs some elucidation. Gold has been undisputed king of assets. For 6,000 years, it has been the safest way of storing wealth. Signs are that it will continue to be so. Global gold demand is rising rapidly, recognized, as it is, as the ultimate refuge in financial and political storms. As history has taught us over an...
Mohamed H. Zakaria, published in Arab News, Jeddah on 1 February 2006
This has reference to a letter “Automobile Industry” (Jan. 25) wondering why the Kingdom is not manufacturing cars. There have been similar letters earlier too. The fact is that the automobile industry is extremely competitive and capital-intensive and is neither feasible nor viable in a country such as the Kingdom. A car industry which m...
Mohamed H. Zakaria, published in Arab News, Jeddah on 30 November 2005
This has reference to the reports regarding the control of the Internet. The US administration has asserted on several occasions that it would maintain its control of the Internet and will continue to regulate it. The US Department of Commerce controls the Internet Corporation for Assigned Names and Numbers (ICANN), the agency that regulate...
By Mohamed H. Zakaria, published on 28 December 2005
Perhaps because he decided that Pakistan’s fiscal policies needed a new culture, President Musharraf imported a veteran banker supposedly of international repute and expertise and imposed him on the nation to bring the culture of Citibank into the nation. He probably didn’t know that Citibank represents American interests around the globe, in the same way Ba...
By Mohamed H. Zakaria, Jeddah published 27 Oct 2006 (Friday 04 Shawal 1427H)
Graffiti has come to rule the walls of even the Kingdom. In Pakistan, it is one of the most powerful means of information dissemination and individuals as well as organizations have staked their claim to the walls simply because they are absolutely free and the law of the land doesn’t forbid people from destroying others’ property. It i...