INTERNATIONAL. This is not how the West, nor many Egyptians, thought the Arab Spring would turn out in Egypt. Their mistake was overestimating the significance of the democratic secularists, how representative the anti-Mubarak demonstrators were of Egypt as a whole, and the degree to which those demonstrators were committed to Western-style democracy.
SAUDI ARABIA. Saudi Arabia will need to keep cutting oil output to sustain prices above US$100 a barrel, according to BNP Paribas and Societe Generale; "We are swimming in crude, and they know that better than anyone because they are the biggest exporter."