Brunei’s independency tested by Asia, Saudi and waning oil

Brunei’s independency tested by Asia, Saudi and waning oil

Crackdown on press symptomatic of a country in decrease

Luke Search, Bangkok

Updated: May 17, 2018 10:24 AM GMT

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Brunei’s Sultan Hassanal Bolkiah and Queen Saleha ride in a procession to mark their golden jubilee in Bandar Seri Begawan on Oct. 5, 2017. (Picture by Roslan Rahman/AFP)

But that independency will be challenged by dwindling oil reserves with gas and oil manufacturing anticipated to go out next two decades prompting Brunei’s ruler, Sultan Hassanal Bolkiah, to start financial reforms and look for investment that is foreign.

Reports have emerged that Asia has moved up to US$6 billion to the enclave even though the United states Enterprise Institute’s Asia worldwide investment tracker put that figure at $4.1 billion. More is originating from Saudi Arabia, enormous figures for Bolkiah whose subjects quantity simply 440,000. (more…)

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