Orient Weekly Watch: CSIORS Edition - Friday, October 27th, 2023

The Guardian: Last Residents of Tunisian Ghost Town Set Sights on Europe

The dwindling population of a once-vibrant Tunisian town, now dubbed a "ghost town," is looking towards Europe for a better future. As economic challenges and dwindling resources plague the town, many residents have decided to leave in search of better opportunities. The allure of Europe, with its promise of a better life, is drawing the remaining inhabitants, signaling a potential end to the town's legacy. The situation highlights the broader challenges faced by many regions in North Africa as they grapple with socio-economic hardships and the hopes of their people for a brighter tomorrow.

Eiu.com: Middle East Conflict Expected to Sustain High Hydrocarbon Prices

The outbreak of the Israel-Hamas conflict on October 7th abruptly halted the crude oil market sell-off and contributed to the increase in natural gas prices in Europe. We anticipate that both oil and gas prices will remain at their current elevated levels throughout the rest of this year and into 2024.

Arab News: Saudi Arabia Announces New Initiatives for Development and Progress

Saudi Arabia has unveiled a series of new initiatives aimed at bolstering the nation's development and ensuring continued progress. The government's latest plans underscore its commitment to modernizing the country and enhancing the well-being of its citizens. These initiatives come as part of the broader vision to diversify the economy, reduce dependence on oil, and promote sustainable growth. The measures also reflect Saudi Arabia's ambition to strengthen its position on the global stage and foster partnerships with international entities. The nation's leaders are optimistic about the potential of these new strategies to drive positive change and pave the way for a prosperous future.