Just in:
UAE and Ecuador Set Course for Economic Pact // Quality HealthCare Partners with eHealth to Enhance Patient Treatment Efficiency // Cobb’s Game-Changer: Introducing One-Stop Event Transport Management Solution // Leading with Compliance, ZUHYX Earns the Canadian MSB License // Hong Kong Unveils April 30 Launch for Landmark Crypto ETFs // Middle East totters on the edge of a cliff // New Dynamics in Cryptocurrency Security: ZUHYX Builds the Strongest Fund Protection System // Telecom Giant Du Eyes Crypto Integration for FinTech Platform // Prince Holding Group’s Chen Zhi Scholarship Clinches Silver Stevie for CSR Excellence at Asia-Pacific Stevie Awards // Octa crypto snapshot: investors behavior predictions after Bitcoin halving // Empty Promises Haunt DAO Maker Hack Victims After Three Years // PolyU forms global partnership with ZEISS Vision Care to expand impact and accelerate market penetration of patented myopia control technology // Lee Chong Wei Shows Up On Chinese Hot cultural Talk Show “SHEDE Wisdom Talents”, Talking About “Crossing The Hill” // Central Bank of Nigeria Debunks Rumors of Crypto Account Freeze // UAE President, Spanish Prime Minister Hold Phone Talks // Booming Region Fuels Innovation Surge // Abu Dhabi Secures US$5 Billion in Fresh Funding // UAE Scrutinizes Report on Racial Discrimination Treaty // Astana International Exchange Connects with Regional Markets Through Tabadul Hub // Election Commission Has A Dismal Record On Acting Against Modi’s Breaches Of Poll Code //

Biggest challenge to Saudi Establishment yet

|By Arabian Post Staff|The coordinated militant attack on the eve of Eid is the biggest challenge yet to Saudi Arabia’s internal security since it crushed an al-Qaeda insurgency a decade ago, according to Bloomberg.
With no claims of responsibility, suspicion has fallen on Islamic State, which has vowed to overthrow Gulf rulers they see as betraying Islam. One of the bombings on Monday, near the Prophet’s Mosque in the holy city of Medina, targeted the heart of the Al Saud family’s legitimacy — its custodianship of Islam’s two holiest shrines, the agency said.
“The Saudis are likely to react firmly, if not harshly, to the attacks,” James Dorsey, a senior fellow in international studies at Nanyang Technological University in Singapore, said in response to e-mailed questions. If coordinated, the bombings “would demonstrate the ability of IS to strike multiple times in the kingdom within a 24-hour framework and as such suggest that the kingdom has a real problem.”

The attacks extended a two-week terrorism spree that has killed dozens in Iraq, Turkey and Bangladesh. Kuwait bolstered its security around oil installations on Monday after breaking up a network allegedly planning to assault the Shiite community and a state facility.
Al-Qaeda Precedent

The kingdom’s rulers faced a similar insurgency a decade ago when al-Qaeda militants returning from battling U.S. troops in Afghanistan and Iraq redirected their fire against Saudi government targets and foreign workers. Authorities crushed that threat by 2007, jailing many al-Qaeda supporters and forcing others to flee to neighboring Yemen.
Today, militants inspired by Islamic State, an al-Qaeda breakaway, are waging a low-level campaign against police and other symbols of power. They’ve also mounted assaults along the country’s religious fault lines with attacks on minority Shiites.
“The group is experimenting and trying to learn about the state’s weaknesses to exploit them,” Firas Abi Ali, principal analyst at IHS Country Risk, said in an e-mailed report. “It also suggests that the group’s ideology is sufficiently popular in Saudi Arabia to obtain individuals eager to take their own lives.”
Economic Shakeup
The violence has cast a pall over daily life, with office buildings and retail centers installing metal detectors and bag scanners. A year ago, Saudi authorities said they had arrested more than 400 Islamic State militants accused of aiding attacks inside the kingdom, most of them Saudi nationals.
The flare in violence in the world’s largest oil supplier comes as Deputy Crown Prince Mohammed bin Salman leads the biggest economic shakeup in the kingdom’s history with plans to reduce reliance on oil and increase foreign investment. Economic growth in Saudi Arabia will slow to 1.5 percent this year, the lowest level since 2009, according to data compiled by Bloomberg.
Monday’s bombings didn’t affect oil prices. Brent crude dropped below $50 a barrel amid signs that global oil supplies remain plentiful. Saudi Arabia’s stock market is closed this week for the Islamic Eid holiday.
“If these are one-off attacks the impact to the larger economy will be limited at this point,” John Sfakianakis, Riyadh-based director of economic research at the Gulf Research Center said in response to e-mailed questions. “If they are generalized and recurrent in intensity, obviously there could be an impact at a time when the economy is in a slowing growth cycle.”
During Saudi Arabia’s battle with radical Sunni militants, attacks against religious sites have been rare. In 1979, a group of gunmen briefly seized control of the Grand Mosque in Mecca. Al-Qaeda linked militants a decade ago attacked the kingdom’s largest oil processing facility in Abqaiq and targeted foreign nationals, but not religious sites.
Islamic State and its followers are attacking worshipers — Sunni and Shiite. Last year, a suicide bomber killed about a dozen security personnel praying at mosque in the southwest province of Asir.

ADVERTISEMENT

Islamic State, also known as ISIS, “has long made it apparent that it has no moral red lines,’’ said Fahad Nazer, who worked at the Saudi embassy in Washington and is now a political analyst at JTG Inc. in Virginia. “It is cut from the same cloth as the militants who laid siege to the Grand Mosque in Mecca in 1979. That group had no compunction about shedding Muslim blood in Islam’s most hallowed ground. Neither does ISIS.’’
The attack in Medina may ultimately backfire, according to Paul Sullivan, a professor of security studies at Georgetown University in Washington.
“Whoever did this may be thinking to attack the economy of Saudi Arabia or rattle the sense of security in the country, but you can be sure the Saudis and many others will exact vengeance like nothing in the recent past,” Sullivan said.-(With Bloomberg)

ADVERTISEMENT

ADVERTISEMENT
Just in:
PolyU forms global partnership with ZEISS Vision Care to expand impact and accelerate market penetration of patented myopia control technology // Octa crypto snapshot: investors behavior predictions after Bitcoin halving // Astana International Exchange Connects with Regional Markets Through Tabadul Hub // Empty Promises Haunt DAO Maker Hack Victims After Three Years // Sharjah Census Gears Up for Final Enumeration Phase // Cobb’s Game-Changer: Introducing One-Stop Event Transport Management Solution // UAE and Ecuador Set Course for Economic Pact // Central Bank of Nigeria Debunks Rumors of Crypto Account Freeze // ZUHYX Exchange: Embracing Social Responsibility for a Sustainable Future // Middle East totters on the edge of a cliff // Dubai Gears Up for Second FinTech Summit as Funding Surges // Election Commission Has A Dismal Record On Acting Against Modi’s Breaches Of Poll Code // Hong Kong Unveils April 30 Launch for Landmark Crypto ETFs // Congress in firefighting mode amid row over Pitroda remarks // Quality HealthCare Partners with eHealth to Enhance Patient Treatment Efficiency // Etihad Airways Announces Paris Service with A380 // ESG Achievement Awards 2023/2024 is Open for Application, Celebrating Innovative Sustainable Practices and Responsible Risk Management // Cairo Recognizes Arab World’s Creative Luminaries at Award Ceremony // Lai & Turner Law Firm PLLC Welcomes Eric Strocen as Director of Family Law Division // Leading with Compliance, ZUHYX Earns the Canadian MSB License //