Headline News 26/07/2017

Headlines:

• Lahore Bombing- Pakistan's Domestic Policy Failings
• Saudi Slashes Exports to Rescue Economy
• French Power

Details:

Lahore Bombing- Pakistan's Domestic Policy Failings

At least 25 were killed and scores were wounded in a suicide attack claimed by the Taliban targeting police in the eastern city. The attack targeted police assisting in a drive to clear the Ferozepur Road, a main road in Pakistan's second city, of illegal construction and street vendors on Monday, provincial Law Minister Rana Sanaullah told media. The Tehreek-e-Taliban Pakistan (TTP) group claimed responsibility for the attack, confirming they used a suicide bomber on a motorcycle. The explosion took place near one of the city's largest office towers, home to a government-sponsored technology park. Many analysts like to state that Pakistan has made significant gains in the fight against armed militant groups since 2014, however the continuous wave of attacks on security personal and civilians since then states otherwise. The fact that in February Pakistan launched a new operation, dubbed "Radd-al-Fasad" (Elimination of Chaos), to widen the scope of military operations against the armed groups just epitomises the failure of policy makers in Pakistan that for the past few years have made the same mistakes over and over again at the expense of the civilian population. Pakistan should look to address the root of the problem as opposed to its symptoms.

Saudi Slashes Exports to Rescue Economy

Saudi Arabia announced its intent to slash oil exports by hundreds of thousands of barrels a day next month in order to reduce global supply and increase its revenues by way of higher prices. Brent was up $1.36 (2%) at $49.96 and was closing in on a seven-week high. ‘OPEC said that stocks held by industrial nations had fallen by 90 million barrels in the first six months of the year but were still 250 million barrels above the five-year average, which is the target level for OPEC and non-OPEC members.’ Saudi’s previous plans to cut production failed to increase demand as the US filled gaps within the market to steal its market share. Despite the rhetoric of Saudi trying to reduce the inventories of the United States, it is clear that their proposals are negligible due to the shale revolution that has effectively removed control over prices from OPEC.

French Power

The head of the French armed forces has resigned amid a bitter public row with the president, Emmanuel Macron in an unprecedented dispute that has highlighted the strain on the French military, deployed in numerous operations abroad and at home. The military chief, Gen Pierre de Villiers, said in a resignation statement on Wednesday that he no longer felt able to command the sort of armed forces “that I think is necessary to guarantee the protection of France and the French people”.  The row began last week when a government minister revealed in a newspaper interview that – despite assurances that the French military budget would rise – there would be a surprise €850m cut to military finances as Macron seeks to slash public spending. De Villiers, 60, a famously straight-talking general who commanded French forces in Kosovo, then told a closed parliamentary committee with sharp words against the government and their spending cuts. Macron hit back by publicly slapping down the general at the annual summer military garden party, telling army generals in a speech: “I am the boss.” Like Britain, France as a power has been in decline and is struggling to maintain its position in the world. But France lacks the capability to meet much of its political goals and this disagreement with the military is evidence of this.