~~~~~~~~~ [ Feb 3 ] ~~~~~~~~~

Saudi Police Arrest 10 Terror Suspects [Feb 3]
"Saudi police have arrested 10 people who are accused of collecting donations and recruiting on behalf of militant groups.. ..The arrests follow claims in the U.S. bipartisan Iraq Study Group report issued in December that Saudi Arabia has been a source of funding for the Sunni insurgency in Iraq.. ..'Security special forces, as part of their efforts in fighting terrorism and its funding, managed to arrest a group of people carrying out illegal activities including collecting donations illegally ... and sending them to suspected parties,' Mansour al-Turki, the Interior Ministry spokesman said in a statement.." [more]

UN Refugee Chief Holds Talks in Saudi [Feb 3]
"Saudi Crown Prince Sultan bin Abdul Aziz has met UN High Commissioner for Refugees, Antonio Guterres, who is touring the Middle East to assess programmes for hundreds of thousands of Iraqi refugees in the region. Guterres underscored the importance of Saudi Arabia's contribution to the UNHCR's programmes and activities around the world, the official SPA news agency reported.." [more]

Saudi Stock Index Tops 7,000 Points Mark [Feb 3]
"The Saudi stock market was relatively calm last week despite announcements by some listed companies of their fourth quarter results. The Tadawul All-Share Index (TASI) broke through the 7,000 points barrier.. ..The Riyadh-based Bakeet Financial Advisors (BFA) said in its weekly report that it expects the market to be "rather steady with a cautious mood" in the coming weeks.. ..The stock market received a boost from the announcement in Riyadh last week from Prince Alwaleed bin Talal, chairman of Kingdom Holding Company, that he would invest more than SR10 billion in the Saudi stock market and the real estate sector.." [more]

UN Experts Call for Ban on Racial Profiling [Feb 3]
"Human rights experts have called on governments to ban racial profiling by police and law enforcement officers, including so-called "terrorist profiling", and to investigate any abuses. While racial discrimination was clearly outlawed, people of a certain racial or ethnic type were still singled out in investigations into crimes or terrorism, according to the United Nations Working Group of Experts on People of African Descent.." [more]

~~~~~~~~~ [ Feb 2 ] ~~~~~~~~~ 

Fatah's Mahmoud Abbas to Meet with Hamas Leader in Saudi Arabia [Feb 2]
"Palestinian President Mahmoud Abbas will meet with Hamas' top leader in Saudi Arabia next week in another effort to negotiate a national unity government agreement.. ..The meeting between Abbas and Hamas supreme leader Khaled Mashaal was to take place Tuesday, the official said. The two leaders met in Syria last month, but failed to reach agreement on forming a government. The official spoke on condition of anonymity because the meeting had not been officially announced.." [more]

Saudi Telecoms Decision Tipped to Have Positive Impact [Feb 2]
"The decision taken by the Saudi cabinet on Monday increasing the volume of shares to be offered for public subscription and reducing the fees levied by the government for land and mobile phone services will have a positive impact in increasing citizens' investments in the telecom sector.. ..The Saudi government decided to reduce its levied fees on the telecom sector from 15 per cent to 10 per cent.." [more]

Saudi Police Seize Armed Man Entering Mecca Mosque [Feb 2]
"Saudi police arrested a man with weapons hidden under his clothes as he tried to enter the Grand Mosque in Mecca, Islam's holiest site.. ..Militants sympathetic to Al Qaeda launched a campaign to topple the US-allied Saudi monarchy in 2003. Sunni-Shi'ite Muslim violence in Iraq and Lebanon has raised fears of sectarian strife across the region. Militants stormed the Grand Mosque in Mecca in 1979, in a rebellion that was crushed two weeks later.." [more]

Oil Prices Advance as OPEC Output Reduction Begins [Feb 2]
"Oil prices have risen as OPEC's planned February production cut took effect and the market looked to cold winter weather in the United States.. ..The Organisation of Petroleum Exporting Countries, meeting in Nigeria in December, had decided to cut production by 500,000 barrels per day (bpd) from February 1, following a cut of 1.2 million bpd in November. Crude prices had dived below 50 dollars a barrel on January 18 in New York, hitting their lowest levels since May 2005 owing to a sharp increase in US crude stocks and a relatively mild winter across the northern hemisphere.." [more]

Tadawul Ends 0.8% Higher [Feb 2]
"The Saudi stock market was quiet during the week ending Wednesday January 31 as losing and small companies' shares returned to their rising trend. The Tadawul All Share Index (TASI) closed the week at 7,041.22, a marginal gain of 0.8 per cent over last week's closing figure. The Index has slumped by 11.2 per cent since the beginning of the year. The value of shares traded rose from 41.4 billion Saudi riyals last week to 41.7 billion Saudi riyals.." [more]

Turki Meets Bush [Feb 2]
"US President George W. Bush met with outgoing Saudi Ambassador to the Untied States Prince Turki Al-Faisal at the White House on Thursday. During their meeting, Bush underscored the importance and strength of relations between the Kingdom and the United States. The president also commended the efforts of Custodian of the Two Holy Mosques King Abdullah and Crown Prince Sultan, deputy premier and minister of defense and aviation, in solving the problems that threatened security in the Middle East.." [more]

~~~~~~~~~ [ Feb 1 ] ~~~~~~~~~ 

Saudi Medical Team Finds a Way to Stop Growth of Cancerous Cells [Feb 1]
"After almost two years of intensive research, a medical team at the Riyadh-based King Faisal Specialist Hospital and Research Centre (KFSHRC) has succeeded in stopping the growth of a gene responsible for causing lymphoma (cancer of immune cells). The team was able to isolate the gene called AKT.. ..AKT is a major factor in causing many types of cancer. The team, comprising a number of physicians and paramedics at KFSHRC, is chaired by Dr Khowla Al Kuraya, chief cancer researcher.." [more]

No Blair Pressure On Arms Deal [Feb 1]
"The attorney general has denied reports that Downing Street pressured him into ending a fraud probe into a BAE deal. Lord Goldsmith said the controversial decision to drop the inquiry into the arms deal with Saudi Arabia was taken by the Serious Fraud Office director.. ..The government says the investigation was dropped because it threatened national security, by damaging relations with Saudi Arabia - seen a key strategic ally in the so-called 'war on terror'.." [more]

DSI to Report to Saudi Authorities [Feb 1]
"The Department of Special Investigation (DSI) will send a team to Saudi Arabia to report on the progress of investigations into high-profile cases involving the deaths of four diplomats and the disappearance of a businessman.. ..Saudi Arabia asked the DSI to report on the progress and explain in detail how the agency has handled the cases and what it expects the outcomes to be, Mr Sunai said, adding that Saudi authorities may not expect any new culprits to be found. The Saudi diplomats were shot and killed in 1989 and 1990, and businessman Mohammad al-Ruwaili went missing in 1990. Saudi Arabia has suspected that Thai police may have had a role in the cases.." [more]

Oil Prices Climb Above $58 a Barrel [Feb 1]
"Oil prices edged up Thursday as OPEC was poised to put a new round of production cuts into effect.. ..The Organization of Petroleum Exporting Countries was set to begin its second round of production cuts, announced late last year, of 500,000 barrels a day of crude oil. While most analysts and tanker trackers believe the cartel has fallen well short of its first cut, Saudi Arabia added support to prices this week when it said it would cut its share _ 158,000 barrels a day _ starting Thursday.." [more]

Shoura Members Urge Legal Support for Vice Police [Feb 1]
"During a discussion of a report about the Commission for the Promotion of Virtue and the Prevention of Vice, Shoura Council members demanded that provisions be made to provide the commission with legal support. Shoura members requested that a legal division be established with lawyers and legal consultants defending commission members and taking court action against people who defame the institution and its members.. ..Shoura Council Chairman Dr. Saleh Bin-Humaid rejected remarks by some members saying that there is no tension between the commission and members of the public.." [more]

Movie on Pre-Oil Boom Kingdom in the Making [Feb 1]
"Saudi actor Abdul Ilah Al-Sinani will begin shooting a new film “Sinin Al-Rahmat,” in a few months. The story is of the Kingdom in the days before oil came to play a major role in Saudi life. Saleh Al-Fauzan is the director and scriptwriter of the film, which will be produced by Saudi Television in collaboration with MBC, Al-Sinani told the daily Al-Watan yesterday. Al-Sinani is currently in a film about an ancient Arab king, Abu Jaafar Al-Mansour which is being shot in Syria and Jordan.." [more]

~~~~~~~~~ [ Jan 31 ] ~~~~~~~~~ 

GE Energy Signs Gas Turbine Contracts in Saudi Arabia Worth 1 BLN USD [Jan 31]
"General Electric's GE Energy said it has signed contracts for two projects in Saudi Arabia with a combined value of around 1 bln usd. GE said it has signed an agreement to supply four combined-cycle power blocks including twelve Frame 7FA gas turbines and various other items to the Marafiq power generation and water project.. ..GE has also agreed with the Saudi Electric Company to provide 12 Frame 7EA gas turbines for the Riyadh Power Plant 9 project, along with technical advisory services and performance testing.." [more]

Saudi Arabia’s NAS Orders 20 Raytheon Planes [Jan 31]
"Saudi Arabia's National Air Services has ordered 20 passenger planes from Raytheon Inc worth at least $250 million for a low-cost airline it plans to set up, the US aircraft maker said. The deal, signed on Tuesday, makes National Air Services the launch customer for the new Hawker 750 light-mid jet. 'With an estimated value in excess of $250 million, the 20 aircraft order is the largest single order on record in the region,'.." [more]

UN Envoy in Iraq Visits Saudi Arabia Seeking Regional Support for Peace Efforts [Jan 31]
"The top United Nations envoy to Iraq visited Saudi Arabia today as part of his ongoing efforts to muster regional support to bring stability to the war-torn country. Secretary-General Ban Ki-moon’s Special Representative Ashraf Qazi, who over the weekend conferred with Syrian officials in Damascus, met with Saudi Foreign Minister Prince Saud Al-Faisal in Riyadh, the Saudi capital.. ..Mr. Qazi 'expressed the need for greater regional cooperation in supporting the Iraqi government’s reconciliation initiatives'.." [more]

Arab Bourses Mixed, Saudi Gains [Jan 31]
"Middle East stocks were mostly mixed yesterday with the Saudi bourse rising and Dubai and Abu Dhabi declining. Saudi Arabia’s Tadawul All Share Index yesterday rose 0.3% to 6940.63 as 40 stocks rose, 35 fell and 11 were unchanged. Saudi Basic Industries Corp, the largest maker of chemicals in the world by market value, added 0.3% to 100 riyals.." [more]

Saudi Arabia to Pare Oil Output Again [Jan 31]
"Saudi Arabia, which already has aggressively shaved its oil output in a battle to shore up prices, is tightening its spigots further this week, The Wall Street Journal reported Tuesday. A senior Saudi oil official said yesterday the kingdom had advised its customers of the impending 158,000 barrel-a-day cut, which takes effect Feb. 1, according to the report. The reductions, part of a broader campaign by the Organization of Petroleum Exporting Countries (OPEC), are intended to shrink inventories of oil that had ballooned last year as demand growth for petroleum faltered.." [more]

Putin to visit Saudi Arabia, Qatar and Jordan [Jan 31]
"President Vladimir Putin will travel to Saudi Arabia, Qatar and Jordan next week, the Kremlin announced yesterday. The Russian leader will visit Saudi Arabia at the invitation of Saudi King Abdullah Bin Abdul Aziz on February 11-12.. ..The trip will be the first for Putin to any of the three countries and comes as Moscow has increased its participation in trying to resolve conflicts in the Middle East.." [more]

Envoys Chosen on Merit: Saud [Jan 31]
"Foreign Minister Prince Saud Al-Faisal told Arab News yesterday that the Kingdom appoints its ambassadors based on their qualifications and their capabilities for success in their post and not on their affiliation to the royal family. 'There is no difference in terms of representation,' he said, referring to the appointment of Adel Al-Jubair as the Kingdom’s new ambassador to the United States, replacing Prince Turki Al-Faisal.." [more]

Saudi-Yemen Talks Set on Cross-Border Smuggling [Jan 31]
"A meeting of Saudi and Yemeni security officers will be held within three weeks to discuss measures to stop the increase in cross-border smuggling operations between the two countries, according to Lt. Gen. Talal Mohsen Angawi, director general of the border guards.. ..the meeting would discuss all aspects of border security, including across the border smuggling of weapons and drugs, organizing of pasturing, protection of livestock and intrusion of individuals. It will be followed by another meeting at the level of border guard directors general in both countries.." [more]

Business Visas Available in 24 Hours, Top Official Says [Jan 31]
"Foreign businessmen and investors can now get visas to Saudi Arabia within 24 hours directly from its missions abroad, says Muhammad Bin Ahmed Tayeb, director general of the Foreign Ministry’s office in the Makkah region. 'We have developed a new system for the issuance of business visas. Businessmen anywhere in the world can now apply for visas to visit the Kingdom, without any restrictions'.." [more]

German Trade Mission, JCCI Hold Exploratory Talks [Jan 31]
"A German business delegation headed by Minister of Economy, Labor and Transportation of Lower Saxony, Walter Hirche, visited the Jeddah Chamber of Commerce and Industry (JCCI) yesterday to establish relations between Saudi and German small and medium entrepreneurs. The delegation represents various sectors in industry and services including construction, machinery, management system and education.." [more]

~~~~~~~~~ [ Jan 30 ] ~~~~~~~~~ 

Saudi working to put out Mideast fires [ Jan 30 ]
A Saudi offer to broker a deal between warring Palestinian factions is the latest move to contain what King Abdullah has termed an explosive situation in the Arab world. Rival Palestinian leaders have welcomed Abdullah's offer to host a meeting in Islam's holiest city in a bid to end the power struggle between president Mahmud Abbas's Fatah and the ruling Islamist movement Hamas which has left more than 30 people dead in four days.  [more]

Saudi Arabia to cut oil output to raise prices - report [ Jan 30 ]
Saudi Arabia, which already has aggressively shaved its oil output in a battle to shore up prices, will reduce production by another 158,000 barrels per day from Thursday and more cuts are on the way, the Wall Street Journal reported, citing an unnamed senior Saudi official. The latest cut means Saudi Arabia will have reduced production by about 1 mln barrels per day in the past six months, the report said.  [more]

U.S. cool to Saudi Arabia's peace broker offer [ Jan 30 ]
The United States reacted coolly to an offer by Saudi Arabia to broker peace between rivaling Fatah and Hamas and stressed Hamas must renounce violence and recognize Israel. "Let me put it this way. What we would like to see is a Palestinian partner that is willing to talk about peace with the Israelis," White House spokesman Tony Snow said when asked if U.S. President George W. Bush supports the Saudi offer. "It is important to have a negotiating partner that renounces violence, acknowledges Israel's right to exist, and will abide by all prior agreements made by previous Palestinian administrations with the Israelis," Snow said. King Abdullah of Saudi Arabia called on Sunday Fatah and Hamas to hold emergency talks in the holy Muslim holy city of Mecca to stop the internal fighting between Hamas and Fatah and the Palestinian leaders on both sides said they would take up the invitation, although no date was set.   [more]

Saudi initiative is a 'life jacket' for warring rival factions [ Jan 30 ]
A number of Saudi political analysts have described the Saudi initiative of calling upon rival Palestinian factions to stop fighting and meet in Makkah as a 'life jacket' that was thrown at the right time. King Abdullah Bin Abdul Aziz made on Sunday an urgent appeal to the Fatah and Hamas factions to halt fighting and come to the negotiating table. The king called upon Palestinians to resort to reason and listen to language of dialogue over the language of arms, noting that what is happening on Palestinian soil is disgraceful and has tarnished the history of honourable national struggle of the Palestinians who have been martyred for the liberation of their homeland.  [more]

Saudi Arabia and Iran cooperating to try to ease crises in Iraq, Lebanon, Saudi FM says [ Jan 30 ]
U.S. ally Saudi Arabia and Iran are working together to try to calm the crises in Iraq and Lebanon, the Saudi foreign minister said Tuesday, despite Washington's efforts to isolate Tehran and stem its power in the Middle East. The mediation is an unusual step by two rivals, Saudi Arabia and Iran, that have been competing for influence in the region. Mainly Sunni Muslim Saudi Arabia has been increasingly vocal about its suspicions of mainly Shiite Iran's intentions.  [more]

Saudi king appoints his former foreign affairs adviser as new ambassador to U.S. [ Jan 30 ]
Saudi King Abdullah announced Monday that Adel al-Jubeir was the kingdom's next ambassador to the United States, according to a royal decree posted on the state-run news agency's website. Al-Jubeir, a commoner, is a U.S.-educated diplomat who was drafted by Abdullah in 2001 to repair Saudi Arabia's image in America after the Sept. 11, 2001 terrorist attacks. Al-Jubeir, 44, was foreign affairs adviser to King Abdullah when he was crown prince, is replacing Prince Turki al-Faisal, who quit last month after 15 months on the job.  [more]

Putin to visit Saudi Arabia, Qatar, Jordan Feb. 11-13 [ Jan 30 ]
Russia's president will visit Saudi Arabia, Qatar and Jordan at the invitation of the Middle East countries' leaders February 11-13, the Kremlin press service said Tuesday. Energy projects and the situation in the Middle East are expected to dominate Vladimir Putin's agenda in the Arab nations. It will be the first visit by a Russian leader to Saudi Arabia in the history of bilateral relations. Diplomatic contacts between the two countries, severed in the 1930s, were restored only in 1990 but remained fairly inactive. In September 2003, the current Saudi King Abdul Aziz bin Abdul Rahman Al-Saud, then crown prince, paid a visit to Russia, which marked a revival of bilateral ties.   [more]

Saudi Shi'ites mark Ashura with new confidence [ Jan 30 ]
Regional conflicts have emboldened Saudi Arabia's minority Shi'ites, and many openly identified with brethren across the Middle East on Tuesday when they marked the Ashura day of mourning. Hundreds of people in black joined street processions to mark the slaying in 680 of Prophet Mohammad's grandson, Imam Hussein. They marched under large pictures of semi-divine hero figures, including Imam Hussein and his father Imam Ali, as well as posters of Lebanese Shi'ite Muslim leader Hassan Nasrallah. "The fight against tyranny has come again," said a teenager who gave his name as Hussein as he marched in the Gulf coast town of Tarut. "With the political situation now and the corruption, we are making war on all oppressors."  [more]

Saudi to unveil new IT project [ Jan 30 ]
Executives at Saudi Arabia General Investment Authority (SAGIA) have confirmed today that the organisation's chief executive will present its latest IT project at an unveiling ceremony in Riyadh on February 5.. ..The new project, which is yet to be named, is thought to be the most significant IT deployment in the country's recent history, and is expected to have a profound effect on Saudi Arabia's overall economic situation.   [more]

Aramco continues talks with Dow on chemical plant [ Jan 30 ]
Saudi Aramco, the national oil company of Saudi Arabia, is seeking partnership with America's Dow Chemical Company for the construction of a petrochemical complex at Ras Tanura. A delegation from Saudi Aramco is currently negotiating the project with the American company.   [more]

~~~~~~~~~ [ Jan 29 ] ~~~~~~~~~ 

Saudi King Warns Iran to Stay Out of Iraq [ Jan 29 ]
In a rare comment over the weekend, King Abdullah of Saudi Arabia warned that Iran is not only interfering in Iraqi affairs, but is attempting to spread Shiite Islam in the majority-Sunni Middle East. The Saudi king told a Kuwaiti newspaper that he warned an Iranian envoy that Iran's actions were endangering the Gulf. As the defender of the Sunni faith in the Muslim world, Saudi Arabia is increasingly concerned about the spiraling sectarian bloodshed in Iraq, and about Iran's efforts to flex its political muscle in the region. But unlike the Americans, the Saudis are talking to Tehran.  [more]

U.S./Iran: Tensions Unlikely To Stoke Military Conflict [ Jan 29 ]
President George Bush on Jan. 23 said that he would rely on diplomacy to curb Iran's nuclear ambitions. Recent media reports have suggested that a U.S. military confrontation with Iran may be imminent. Washington clearly sees Tehran's growing influence as a serious policy challenge. As Bush struggles to win support for his revised Iraq strategy, there is a growing consensus in Washington that the true treat emanates from Iran. Fundamentally, these perceptions are rooted in the sense that Washington has lost the strategic initiative in the Middle East, an apparent weakness that Tehran intends to exploit.   [more]

King Offers to Host [Palestinian] Talks [ Jan 29 ]
Custodian of the Two Holy Mosques King Abdullah yesterday invited leaders of the warring Palestinian groups for talks in Saudi Arabia. “I invite them all, without differentiating between them, for an emergency meeting in the vicinity of the Grand Mosque in Makkah in order to discuss issues of dispute without any bias and without any interference from any party,” the king said.  [more]

Spreading Shia faith among Sunnis will not succeed: Saudi King [ Jan 29 ]
Saudi Arabia’s King Abdullah said in an interview published on Saturday that attempts to convert Muslim Sunnis to the Shia branch of Islam will not succeed, and that Sunnis would always make up the majority of the world Muslims. Although Abdullah did not mention Iran by name, his comments - rare for the Sunni monarch - appeared aimed at easing Arab concerns over the Persian Shia nation’s growing influence in the Middle East.  [more]

Alwaleed to Invest SR10 Billion in Stock Market, Real Estate Sector [ Jan 29 ]
In what is seen as a major boost to the Saudi stock market and the real estate sector, Prince Alwaleed bin Talal, chairman of Kingdom Holding Company, announced here yesterday that he would invest more than SR10 billion in those two sectors as part of a strategic move to diversify his investment portfolios. Of the total amount, SR5 billion will be invested in local companies, including the Saudi Research and Marketing Group (SRMG) from the media sector. Banking, industrial and consumer goods manufacturing sectors will be the other beneficiaries of Prince Alwaleed’s investment portfolios. The shares of companies represented in these sectors are traded on the Saudi stock market.  [more]

SR60 Million Project Under Way to Expand Old Makkah Highway [ Jan 29 ]
The Transport Ministry has launched an SR60 million project to expand the old Makkah highway that links the holy city with Jeddah as well as Bahra, Heda, Jamoom and Shumaisi. The project will not only facilitate transport on this vital road but also reduce pressure on the Jeddah-Makkah Expressway. The contracting company has started its work from Um Al-Joud on the Makkah side, removing obstacles that stand in the way of the road.  [more]

93.9 per cent of Saudi Arabia's households have Satellite TV [ Jan 29 ]
While 93.9 per cent of Saudi Arabia's households have Satellite TV, some 48.4 per cent of households still tune into terrestrial TV. A major new survey by Arab Advisors Group reveals that terrestrial TV still has a good base in Saudi Arabia with 48.4 per cent of households stating that they tune into it.  [more]

Saudi Arabia: New Quotas [ Jan 29 ]
Last week, Ghazi al-Gosaibi, the labour minister, signalled the government's intent to push on with Saudiisation by raising the minimum number of Saudis employed by any company to 5%. The quota will still vary between sectors. Companies failing to meet the required percentage will be publicly named and barred from foreign recruitment.  [more]

Expat remittances plunge as ratio of Saudi GDP [ Jan 29 ]
Saudi Arabia has succeeded in cutting the ratio of expatriate remittances to its Gross Domestic product (GDP) by 50 per cent in 15 years, an Arab Monetary Fund (AMF) report said. Expatriate remittances as a ratio of Saudi GDP have decreased from 9.6 per cent in 1990 to 5.4 per cent in 2005, the report added. [more]

~~~~~~~~~ [ Jan 28 ] ~~~~~~~~~ 

No Alliance Against Iran — Abdullah [Jan 28]
Saudi Arabia yesterday denied suggestions that it was forging an alliance against Iran. “This is completely untrue and against our policy,” Custodian of the Two Holy Mosques King Abdullah said referring to Iranian media reports. “We don’t interfere in the affairs of others,” he said. [more]

5,000 More Scholarships for Higher Studies Abroad [Jan 28]
As many as 5,000 young Saudis will be sent abroad for postgraduate and undergraduate studies this year under the King Abdullah Scholarship Program, according to Deputy Minister of Higher Education Abdullah Al-Mojel. Seventy percent of the scholarships will be allocated for higher studies and the rest for the undergraduate and technical courses. The students will be given preparatory courses in their chosen fields before they go abroad. [more]

Saudis seek Palestinian dialogue [Jan 28]
Saudi Arabia's King Abdullah has invited rival Palestinian leaders to a meeting in Mecca aimed at ending a recent wave of factional fighting. In an open letter, the king described the clashes as a "disgrace" and urged leaders to make "dialogue prevail over the language of arms". [more]

Saudi king rejects talk of royal family rift [Jan 28]
Saudi Arabia's King Abdullah has denied talk of rifts within the royal family which rules the world's biggest oil exporter as an absolute monarchy, according to an interview published on Saturday. In the interview carried by state news agency SPA, the king said a heavily publicised appearance of numerous leading figures of the royal family at the return of a prince from a British hospital aimed to dispel talk of disputes.  [more]

Sunnis will not take up Shiism: King Abdullah [Jan 28]
Riyadh: King Abdullah of Saudi Arabia said in an interview that attempts to convert Muslims Sunnis to become Shiites would not work. In the interview, which was published on Saturday in a Kuwaiti newspaper, the Al Siyassah daily, King Abdullah said that Sunnis would always make up the majority of the world’s Muslims. The comments – unusual for the monarch – seem to be in response to Arab media claims that Iran is seeking to spread Shiism among Sunni Arab countries as a way of increasing Tehran’s political power. [more]

Saudi king says Iran putting region in danger [Jan 28]
Iran is putting the Gulf region in danger following its conflict with the United States over Iraq and its nuclear policy, a newspaper quoted Saudi Arabia’s king as saying. In the interview in Kuwait, King Abdullah also issued a veiled warning to Iran to quit what he said were efforts to spread Shiism in the Sunni-dominated Arab world. The United States and its ally Saudi Arabia accuse Iran of "interference" in Iraq through backing Shiite militias and parties. [more]

Saudi Officials Seek to Temper the Price of Oil [Jan 28]
Saudi Arabia, which benefited immensely from record oil prices last year, has sent signals in the past two weeks that it is committed to keeping oil at around $50 a barrel — down $27 a barrel from the summer peak that shook consumers across the developed world.  [more]

Saudi Ambassador: Public diplomacy is more important than ever [Jan 28]
“Having been given a voice by the media, the internet and satellite communications, people are empowered as never before to influence the outcome of world events,” Prince Turki said. “The people have a voice. Leaders listen. And the simple fact is: Governments can work together better when their constituents are supportive of their aims. Whether or not a nation’s citizens foster a positive environment toward a foreign people matters a great deal.” Prince Turki cited the Saudi-US relationship as an example of this point. While Saudi and US leaders have had close ties since King Abdulaziz Al-Saud and President Franklin D. Roosevelt met in 1945, relations between the two peoples have also developed. [more]

Gates: Women Key to Saudi Arabia Economy [Jan 28]
Bill Gates cited Saudi Arabia as an example Saturday of why he believes limiting the rights women can hinder economic growth. During a meeting on the sidelines of the World Economic Forum, Gates described speaking to a segregated audience at a recent business seminar in Saudi Arabia. [more]

Saudi king: Iran endangers Gulf [Jan 28]
Saudi Arabia told an Iranian envoy this month that Shia power Iran was putting the Gulf region in danger, in a reference to Iran’s conflict with Washington over Iraq and nuclear policy, a newspaper said. In the interview in Kuwait’s Al-Seyassah yesterday, King Abdullah also issued a veiled warning to Iran to quit what he said were efforts to spread Shiaism in the Sunni-dominated Arab world. The US and Saudi Arabia accuse Iran of “interference” in Iraq, through backing Shia militias and parties, and suspect Tehran is developing a covert nuclear weapons programme - a charge Iran denies. [more]

Alwaleed bets $1.3 bln Saudi stock crash is over [Jan 28]
Prince Alwaleed bin Talal, who has made billions of dollars investing in underperforming companies, said on Sunday he spent 5 billion riyals (680 million pounds) in the Saudi bourse this month betting a crash is over.. ..Saudi Arabia's benchmark index plummeted 52.5 percent last year, the worst performance among 81 indices tracked by Birinyi Associates Inc., a U.S. stock market research company. [more]

Saudi Arabia to send 5,000 students abroad for higher studies [Jan 28]
The Saudi Deputy Minister of Higher Education announced that the kingdom will send 5,000 Saudi students abroad for postgraduate and undergraduate studies under the $2.7 billion King Abdullah Scholarship Program.. [more]

Commerce Minister to open First Forum on Saudi Family Companies [Jan 28]
The participants of the forum will review a number of issues pertaining to the family companies. More than 90 percent of the establishments working in the kingdom belong to family businesses. [more]

Yemeni-Saudi cooperation on fighting malaria [Jan 28] 
Director general of the national program on fighting malaria disease Dr Shawqi al-Maweri said last Monday there were joint cooperation, efforts and activities for fighting malaria to be embarked on during this month. The cooperation in this field would be started on border areas between Yemen and Saudi Arabia.  [more]

Iran, Saudi Seeking Face-to-Face Meeting between Berri, Saniora [Jan 28] 
Iran and Saudi Arabia were seeking to establish a face-to-face meeting between Prime Minister Fouad Saniora and Parliament Speaker Nabih Berri in a fresh bid to settle the ongoing political impasse which has sparked fears of a return to civil war after bloody clashes left eight people killed. The daily An Nahar on Sunday, citing ministerial sources, said Iranian and Saudi efforts were underway to bring together Saniora and Berri who have not met since November when six Opposition ministers quit the government, triggering the current crisis.  [more]

Saudi SAGIA signs two major deals [Jan 28]
The Saudi Arabian General Investment Authority (SAGIA) has signed two major international and local deals with Singapore's Jurong International and Saudi Arabia's Communications and Information Technology Commission (CITC).. [more]

Saudi Arabia plans to increase water supply
The Saudi Arabian Saline Water Conversion Corporation (SWCC) has drawn up a plan to eliminate water shortages across the country. The plan, which has not been released, will solve the water problem by building new desalination plants, the corporation said. [more]

Jan 21-Jan 27, 2007

Saudi King: Spreading Shiism Won't Work [Jan 27]
"Saudi Arabia's King Abdullah said in an interview published Saturday that attempts to convert Muslim Sunnis to the Shiite branch of Islam will not succeed, and that Sunnis would always make up the majority of the world Muslims. Although Abdullah did not mention Iran by name, his comments _ rare for the Sunni monarch _ appeared aimed at easing Arab concerns over the Persian Shiite nation's growing influence in the Middle East. Arab media have claimed that Iran seeks to spread Shiism among the region's predominantly Sunni Arab countries as a way of increasing Tehran's political power.." [more]

Sabic Plans Move Into Specialty Chemicals [Jan 27]
"Saudi Basic Industries Corp., the world's biggest chemicals maker by market value, will start making specialty products in a bid to compete with European rivals like BASF AG and reduce vulnerability to price swings.. ..Petrochemical makers in the Middle East are expanding as they benefit from abundant raw materials, such as natural gas, and rising global demand for plastics, solvents and polymers. Saudi Basic, known as Sabic, this month completed a $685 million purchase of Huntsman Corp.'s U.K. units, gaining plants that make ethylene, benzene and related chemicals for European markets.." [more]

Saudi Arabia May Lower Spending to Contain Inflation [Jan 27]
"Saudi Arabia, the largest Arab economy, may cut government spending rather than revalue the currency to help slow inflation, the country’s finance minister said. 'Other tools are more effectiveî than changing the riyal’s peg to the dollar', said Ibrahim Abdel Aziz al-Assaf yesterday in an interview in Davos, Switzerland. 'If there is a need, then we’ll hold back on expenditure.' Inflation in Saudi Arabia, which accelerated to an annual 2.7% in October from an annual 0.7% in December 2005, according to Bloomberg calculations, is 'low by international standards, but we have to be watchful about increasing inflationary pressures,'.." [more]

Top 20 Businesswomen Supplement Coming [Jan 27]
"The first ever newspaper supplement focusing exclusively on Saudi businesswomen was signed into existence last week. The supplement, to be published annually, echoes the well-established Arab News Top 100 Saudi Companies annual supplement that ranks the performance of Saudi business as a whole. 'This is a real step forward in commercial publishing,' Arab News Editor in Chief Khaled Almaeena said .." [more]

CMA Decision Weighs Heavily on Saudi Stocks [Jan 27]
"The Saudi stock market continued to drop further last week. The Tadawul All-Share Index (TASI) shed another 3.16 percent last week, falling below the 7,000-point psychological barrier.. ..The Riyadh-based Bakheet Financial Advisors (BFA) said in their weekly report that the market had come under pressure from a decision by the Capital Market Authority (CMA) to suspend trading of Anaam International Holding Group Co. shares as of Jan. 20. The CMA said the firm had accumulated losses amounting to 95 percent of its capital.." [more]

Varsities to Focus on Job Market Needs [Jan 27]
"Saudi universities will focus on developing skills such as English-language proficiency required by the market, according to Higher Education Minister Dr. Khaled Al-Anqari. 'Proficiency in English language is one of the basic skills required by Saudis in order to compete in the job market,' the minister said, admitting that Saudi universities were lagging behind in English.. ..Anqari said Saudi universities are thinking of expanding student exchange programs with the support of other world universities by concluding bilateral agreements.." [more]

Saudi Arabia , China to Boost Cooperation in Oil Sector [Jan 26]
"Saudi Minister of Petroleum and Mineral Resources Ali Al-Naimi met here yesterday with Maa Kai, president of China's National Development and Reform Commission, to discuss increasing cooperation between Saudi Arabia and China in the field of oil.. ..Naimi said the Chinese imports of Saudi oil amounted to 470,000 barrels per day with an increase of 7 percent over 2005. These imports accounted for more than 16 percent of China's need of imported oil. He also expected Chinese imports of Saudi oil would continue to increase in the coming years.." [more]

Saudi Seeks to Make Tadawul a Close Shareholding Company [Jan 26]
"The Saudi Ministry of Commerce and Industry is seeking a royal decree to licence the establishment of the Saudi Capital Market — Tadawul — as a close shareholding company after completion of the procedures required by the ministry.. ..Experts have welcomed the decision as the right one under the circumstances. They say that this was significantly having a negative impact on the performance of the stock market as a whole through the loss of capital and high speculation increasing the risk premiums of volatility and uncertainty in the whole market. The decision will make the stock market healthier and regain confidence of the people dealing in stocks.." [more]

PSA Celebrates Historic Million Dollar Saudi Agreement [Jan 26]
"The Professional Squash Association has finalized a record agreement in professional squash worth more than one million US dollars in Saudi Arabia. The deal, according to PSA media release, has come just over a week after announcing a major three-year agreement in Kuwait.." [more]

Experts Lambast Universities' Curriculum [Jan 26]
"Saudi experts and academicians have harshly criticised the education curriculum at Saudi universities. They noted that the curriculum is full of knowledge-related subjects but failed to enrich the students intellectually and culturally.. ..Performance of Saudi universities also came under attack recently by a number of columnists in the local press following the release of a global rating of world universities. The ranking has put Saudi universities at the bottom of the list, a matter that sparked a debate among Saudi 
academics who called for urgent reform in the education system.." [more]

Gulf States Likely to Shift Assets Away From US [Jan 26]
"..Middle Eastern countries have been scaling back their once near full reliance on US assets in recent years to cut risks and improve returns as they diversify the massive windfall from oil and gas revenues. 'Regionally there is less evidence of enthusiasm to be the major owner of US assets. It doesn't mean U investments will go away but you will find governments and agencies looking at a wider range of opportunities,' Phillip Thorpe, chairman and chief executive officer of Qatar Financial Centre Regulatory Authority, said.." [more]

Harvard Inaugurates Alwaleed Program [Jan 26]
"The Prince Alwaleed bin Talal Islamic Studies Program at Harvard University was inaugurated recently. The program, established with a $20-million gift from Prince Alwaleed in 2005, is aimed at building on Harvard’s commitment to religious studies. It will also augment Harvard’s existing strength by increasing the number of faculty members focused on Islamic studies, providing additional support to graduate students and digitizing rare Islamic texts.." [more]

U.S. Opposes Iranian, Saudi Meddling in Crisis [Jan 25]
"The United States yesterday criticized Iranian overtures to Saudi Arabia suggesting the two countries cooperate to resolve a political crisis between the Lebanese government of Prime Minister Fuad Siniora and the Shi'ite group Hezbollah.. ..'We certainly wouldn't support any effort to try to negotiate something over and above the heads of the Siniora government,' State Department spokesman Sean McCormack told reporters.." [more]

Saudi Princess, at Davos Forum, Says: 'I'd Let Women Drive' [Jan 25]
"The most prominent princess in Saudi Arabia's royal family said Thursday that if she could change one thing about her country, she would let women drive a rare and direct challenge against the driving ban imposed by the kingdom's ruling male elite.. ..the daughter of a former Saudi king and sister of the country's current foreign minister, came during a session at the World Economic Forum's annual meeting a forum known for getting world leaders to engage in frank, often off-the-record dialogue without fear of being criticized.." [more]

Saudi Arabia, U.S. Lead Donors Raising Lebanon Aid [Jan 25]
" Saudi Arabia, the U.S. and France lead donors pledging a total of $7.6 billion in new funds to help rebuild Lebanon and lend support to Prime Minister Fouad Siniora's government.. ..The aid conference, called to help Lebanon rebuild after Israel's war on its Shiite Muslim Hezbollah militia last July and August, comes after Hezbollah organized strikes and protests in Beirut two days ago, in which three people died and at least 100 were injured. Hezbollah has been trying to topple Siniora, a Sunni Muslim who is backed by the U.S. and its allies. U.S. Secretary of State Condoleezza Rice, speaking alongside Siniora, indicated that aid will remain conditional on Lebanese policy, whoever is in power.." [more]

Rights Group Urges Saudis to Stop Ahmadi Arrests [Jan 25]
"US -based Human Rights Watch has said Saudi Arabia was arresting and deporting Ahmadi Muslims on the basis of their religious beliefs and urged it to stop. The group, which wrote a letter to Saudi King Abdullah, said that the Saudi government had arrested 56 non-Saudi followers of the Ahmadiya movement, including babies and children, and deported at least eight to India and Pakistan without charging them with a crime. The Ahmadiyya movement defines itself as Muslim but is not recognized by some mainstream Muslim groups because of its divergent beliefs.." [more]

Saudi Stock Index Falls Below 7,000 [Jan 25]
"The Saudi stock market failed to gain positive momentum from the announcements of financial results of listed companies. The Tadawul All-Share Index (TASI) plunged below the 7,000 points mark for the first time in more than two years. The index tumbled 168.56 points or 2.36 percent yesterday to close at 6,987.86 points, its lowest close since Oct. 21, 2004. The index is already down 11.92 percent or 945.43 points so far this year after closing at 7,933.29 on Dec. 31, 2006.." [more]

Better Homes Drives Business in Region [Jan 25]
"As the region's economy continues to boom, big name businesses like Virgin, Adidas, Benetton, Sicily, Pizza Hut, Starbucks and Boots are finding their way to the Middle East and Asia with the help of Better Homes, the region's biggest realtor. Last year (2006) saw Better Homes' Commercial division enjoy record highs as a flood of businesses from around the world sought entry to the region.. ..In Saudi, Virgin, one of the world's fastest growing brands has leased its first Megastore - courtesy of Better Homes. The shop at Roshana Mall in Jeddah is located on Tahlia Street, one of the most prestigious commercial areas in Saudi and is the first of many the company plans to open in the Kingdom.." [more]

6,000kg of Narcotics Seized [Jan 25]
"More than 6,000 kg of narcotics were seized by the Saudi border patrol in the eastern province, according to the annual statistics report for 2006. The report shows that 471 infiltrators who managed to cross into the kingdom illegally were caught and 31 hashish smugglers arrested while trying to smuggle in the drugs.." [more]

Saudis Issue 1,389 Project Licences in 2006 [Jan 25]
"The value of licences issued by the Saudi Arabian General Investment Authority (Sagia) in 2006 increased 25 per cent over the previous year, according to press reports. Sagia licensed 1,389 joint and foreign investment projects last year, worth a total of 253 billion Saudi riyals. Sagia, the gateway to investment in Saudi Arabia, was established by the government in 2000, part of a new foreign investment law.. ..This year Sagia will prepare specialised economic reports for each region to highlight investment opportunities.." [more]

Saudi Oil Minister May Meet With China's Energy Officials [Jan 25]
"Saudi Arabia's oil minister Ali Naimi may hold talks with senior Chinese energy officials Thursday, but China's government declined to confirm any such meeting. The Saudi minister is also expected to meet with senior officials of China's top energy companies, and negotiations may center on the building of two key refineries on China's eastern coastline. Saudi Arabia is also expected to engage in further talks on joint efforts with the Chinese to build China's strategic oil reserves. According to an industry person, who declined to be named, Naimi will meet with several officials from the energy bureau of the National Development and Reform Commission - the country's top economic planning agency.." [more]

Outgoing Saudi Ambassador to Give First 2007 Landon Lecture [Jan 25]
"The outgoing ambassador of Saudi Arabia to the United States will present the first 2007 Landon Lecture Friday. Appointed ambassador on July 20, 2005, Prince Turki al-Faisal is the 147th lecturer in the lecture series' 40-year history.. ..Michael Suleiman, distinguished professor of political science, said Prince Turki's comments on Middle East politics are important since Saudi Arabian relations influence the United States and the Middle East region.." [more]

Saudi Foreign Minister Warns Against Partitioning Iraq [Jan 24]
"The Saudi foreign minister, Prince Saud al-Faisal, warned against partitioning Iraq along sectarian lines and told Iran not to 'meddle' in Arab affairs. 'For Saudi Arabia, a partition of Iraq is inconceivable. It is essential to avoid it'.. ..With sectarian violence raging in Iraq, many now talk openly of partition along sectarian lines, which would end U.S. hopes of promoting a unified, democratic Iraq.." [more]

US Will Need Mideast Oil for Years - Saudi Envoy [Jan 24]
"..US policymakers should be talking about interdependence with Middle East suppliers, not independence, said Prince Turki Al Faisal, the kingdom's US ambassador, speaking at George Washington University.. ..The United States and other nations "will remain in need of the resources of our part of the world in the energy sector for many years to come and that is something that your people should realise," he said.." [more]

New Saudi Construction Firm Formed Amid Strong Demand [Jan 24]
"Amid a record growth in the Kingdom's construction industry as well as in the rest of the Gulf region, a new Saudi closed joint stock construction company was unveiled here yesterday. Construction Products Holding Company (CPC), with a capital of SR107 million, is 49 percent owned by the Bin Laden Group and the rest shared by another group of Saudi businessmen. The capital is divided into 10,700,000 shares, valued at SR10 per share.. ..According to real estate companies' statistics, the number of housing units will double to exceed 9 million units within the next 20 years. In line with population growth, the government and the private sector are trying to meet such demands.." [more]

Saudi Loan Defaults Up on Stock Losses [Jan 24]
"Loan defaults increased over losses incurred in the Saudi stock market, Finance Minister Ibrahim Al-Assaf said during a press conference here recently. 'The rate of defaults to the Real Estate Development Fund (REDF), a major source of real-estate financing in the Kingdom, exceeded 30 percent in 2004,'.. ..The defaults, he said, led to the decrease in the issuance of new loans. "The current sources of loans for real estate financing are insufficient to meet the increasing demand for housing," the minister observed.." [more]

Northern Cyprus Seeks Strong Relations With Saudi Arabia [Jan 24]
"Turkish Republic of Northern Cyprus (TRNC), which holds an observer status in the Organization of the Islamic Conference (OIC), seeks to establish stronger political and business relations with Saudi Arabia according toDr. Turgay Avci, deputy prime minister and foreign minister.. ..'We would like to establish a representative office in Riyadh and a trade and tourism office in Jeddah very soon,' the deputy premier said while talking to reporters after a meeting with Dr. Ahmed Mohamed Ali, president of the Islamic Development Bank and Saudi entrepreneurs in Jeddah yesterday. Avci said he would visit the Kingdom again next month to attend the Jeddah Economic Forum and establish contacts with Saudi authorities.." [more]

Arab League's Moussa Warns U.S. Against Iran Attack [Jan 24]
" The threat of a U.S. attack on Iran is very serious and would risk spreading sectarian violence throughout the Middle East, Arab League Secretary General Amr Moussa said on Wednesday. 'It's a 50/50 proposition, and we hope that it won't happen. Attacking Iran would be counterproductive'.. ..His concern over an looming U.S.-Iran confrontation was shared by business leaders and political commentators at an opening session on the Middle East at the Forum, an annual gathering of the world's rich and powerful.." [more]

Saudi Won't Take Sides in Iraq [Jan 23]
"Saudi Arabia will not take sides in Iraq's sectarian violence and support its Sunni brethren even if US troops quickly leave the country, Saudi Arabia's ambassador to the US said. 'We'll keep an equal distance from all Iraqi factions'.. ..He denied a New York Times story published last month that said Saudi King Abdullah told visiting US Vice-President Dick Cheney that the Saudis might back Iraqi's minority Sunni population over the majority Shi'ites if fighting continued between the two groups after any US troop withdrawal.." [more]

TWC Gets Green Light to Run Wholly-Owned Subsidiary in Saudi [Jan 23]
"Mainboard-listed Tiong Woon Corporation (TWC) has become the first Singapore company to get a licence to run a 100% foreign-owned business entity in Saudi Arabia. The oil and gas services provider rents out construction cranes and puts together heavy equipment on site. And it is planning to use Saudi Arabia as a entry point into the Gulf region.." [more]

Six Jailed Over Saudi Play Attack [Jan 23]
"Six Saudis have reportedly been jailed in connection with an attack on actors taking part in a play critical of hardline religious attitudes. Reports from Riyadh say one person was sentenced to two months in jail, while five others received shorter sentences.. ..The play, in a cultural festival last November, had to be abandoned after Islamists stormed the theatre.." [more]

Saudi Obesity Alarm [Jan 23]
"A health study has found that 45% of Saudi women and 23.5% of Saudi men are obese, Arab News reported. The joint research by the King Faisal Specialist Hospital and Research Center and the Ministry of Health measured the body mass index of 5,000 men and women across the kingdom. Hail was found to be the 'fattest city', with 34% of its population considered obese.." [more]

Saudi Women Being Encouraged to Open their Own Businesses [Jan 23]
"Saudi women, who have no registered business but have the acumen, can now open their own enterprises with the support of local chambers of commerce and industry.. ..'When a Saudi woman entrepreneur is successful in creating a business or enterprise of her own, the chamber will provide her all the support in terms of more training to operate and manage business and guide her on getting finance,' the EPCCI official said. Women should not only be working in lingerie shops, but should be encouraged to become entrepreneurs.." [more]

$55 Opec Basket Price Reasonable [Jan 23]
"A reasonable price for Opec's crude basket is $55 a barrel, Opec's president said, at least $5 higher than the reference price now stands. Mohammed Al Hamli, also oil minister of the UAE, said Opec ministers were not "panicking" over oil's 13 per cent plunge since the start of the year, but prices should be high enough to protect investment in new projects.. ..Opec's reference basket, valued about $5 to $6 below US crude, was $49.63 on Monday.." [more]

Abdullah Calls for Reforms, Development [Jan 23]
"King Abdullah yesterday urged Muslim countries to continue their reform and development programs in order to promote the progress and prosperity of their citizens.. ..Abdullah reminded Muslims of their role in spreading the values of justice and love all over the world. 'Brotherhood, mercy and tolerance are the hallmarks of Islam,' he said, while lamenting the suffering of people in some parts of the Islamic world as a result of wars, catastrophes and internal conflicts.." [more]

S.Korea Seeks Stable Saudi Oil Supply [Jan 22]
"Saudi Arabia's oil minister has Monday pledged a stable crude and oil supply for South Korea, Seoul officials said. During a meeting with South Korean President Roh Moo-hyun, Saudi Oil Minister Ali Al-Naimi said he would do "his best to maintain stability in his country's energy supply for South Korea, as well as in international markets," Roh's office in Seoul said in a statement. Al-Naimi also called for South Korea to make more investment in the Gulf country, saying his country is seeking industrial diversification.." [more]

Saudi Stock Market Struggling as Small Cap Firms Extend Losses [Jan 22]
"Saudi Arabia's stock index struggled to close in positive territory yesterday after small caps extended losses on fears that the bourse regulator would widen its suspension of loss-making stocks.. ..The Riyadh index, benchmark of the Arab world’s largest stock market, closed at 7,163.83 points, up 0.28%. Al-Rajhi Banking & Investment Corp, Saudi Arabia’s largest lender by market value, rose 1.52% ahead of the bank’s announcement after market hours that its fourth-quarter net profits rose 19.5%.." [more]

High-Profile Personalities in Saudi Delegation to WEF [Jan 22]
"Saudi Arabia will be represented at the five-day annual World Economic Forum meeting in Davos, Switzerland by a number of high-profile government and business leaders, academics and media personalities.. .. the Saudi delegation includes Minister of State Abdullah Zainal Alireza; Saudi Basic Industries Corp. CEO and Vice Chairman Mohamed Al-Mady; Effat College Board of Trustees Vice Chair Princess Lolwah Al-Faisal.."[more]

Saudi Arabia to Study NATO Proposal [Jan 22]
"Saudi Arabia yesterday said it would study a NATO proposal to join four other GCC countries in the NATO's Istanbul Summit Communiqué, but said that there must be a complete understanding of its regional goals and agendas. 'The Kingdom will study the proposal submitted by NATO to join the Istanbul Summit,' said Foreign Minister Prince Saud Al-Faisal yesterday. The symposium, 'NATO and the GCC: Cooperation Within the Framework of the Istanbul Summit,' was opened by Prince Saud.." [more]

OPEC Dumps $10.1 Billion of Treasuries as Oil Tumbles [Jan 22]
"OPEC nations are unloading Treasuries at the fastest pace in more than three years as crude oil prices tumble, sending bond yields higher. Exporters including Indonesia, Saudi Arabia and Venezuela, sold 9.4 percent, or $10.1 billion, of their U.S. government debt securities in the three months ended in November, according to Treasury Department data. Members of the Organization of Petroleum Exporting Countries last sold Treasuries for three straight months in June 2003.." [more]

Cooperation Needed for Peace in Mideast [Jan 22]
"A Saudi minister has described the Middle East as the most tumultuous region in the world due to the deterioration of security in Palestine and Iraq and neighbouring Afghanistan and Somalia.. ..Prince Saud noted that extremist ideologies are growing due to the failure of the international community to settle chronic disputes within the basis of international legitimacy.." [more]

Labor Minister Responds to Conditions Imposed by Manila [Jan 22]
"..Manila-based Philippine Overseas Employment Administration (POEA) imposed new conditions on recruitment of Filipino domestic workers and raised the housemaids’ monthly salary to SR1,500 from the present SR700. Saudi sponsor alone can decide and fix the minimum salary based on the wage fluctuations while employing foreign laborers, Al-Gosaibi said. 'The Saudi labor market is open and Saudi employers are free to recruit foreign workers from any country they wished'.." [more]

Foreigners Can Invest in Hospitals [Jan 22]
"Foreigners can now invest in hospitals provided the number of beds should be at least 150, reported Al-Madina Arabic language daily Sunday. Health Minister Dr. Hamad Al-Mane’ issued directives in this regard meant to expand the existing health care facilities. Investors can apply for license to the Medical Licenses Administration, but the ministry remains the overall authority.." [more]

Artificial Rains Project to Address Water Shortage [Jan 22]
"Saudi Arabia will expand its artificial rain program to cover all parts of the country in order to meet growing need for water for its increasing population as well as for agricultural and industrial purposes, according to Dr. Ahmed Ashour, the program’s general supervisor.. ..Ashour said the official launch of the program would take place after six months. A team of 60 Saudi and American experts has been working on the project since last October, Ashour said, adding that the studies conducted by the team were encouraging.." [more]

UK Trade Delegation Takes to the Rails [Jan 22]
"..The UK’s first Railway Sector Mission to Saudi Arabia is underway through Tuesday. The Mission was arranged by UK Trade & Investment (UKTI) in association with the Railway Industry Association (RIA).. ..The members of the trade delegation are in Saudi Arabia in order to give select UK companies the opportunity to present their knowledge and experience to decision makers within the Saudi Arabian railway industry. The mission members will also gain an insight into the key railway projects being undertaken in the Kingdom.." [more]

Saudi Arabia Underscores In-Depth Cooperation With NATO [Jan 21]
"Saudi Foreign Minister Prince Saud Al-Faisal inaugurated here on Sunday a seminar entitled "NATO-GCC Cooperation Within the Framework of Istanbul Initiative" praising the approach of the regional states to broaden cooperation with the Western alliance.. ..Prince Saud said the Middle East is one of the regions in the world that is characterized by turmoil. He called for effective international cooperation to bring about stability in the region, according to official Saudi Press Agency (SPA).." [more]

Businesswomen From US Eyeing Investment in the Saudi Arabia [Jan 21]
" A group of American businesswomen under the sponsorship of the Global Women's Foundation (GWF) yesterday discussed investment opportunities and joint business ventures in the Kingdom with their Saudi counterparts in a meeting held at the Jeddah Chamber of Commerce and Industry (JCCI).. ..The American businesswomen sought opportunities in the financial, industry and tourism sectors.." [more]

Saudi Arabia Banks Invest 13.4b Riyals in Properties [Jan 21]
"Saudi banks pumped 13.4 billion Saudi riyals into real estate projects in the Kingdom during the first half of 2006.. ..The Saudi government is already working to push the real estate sector ahead. Earlier it announced it would raise the capital of the Real Estate Development Fund (REDF) by nine billion riyals (Dh8.8 billion), effective the beginning of 2006. The move boosted REDF's capital to 92 billion riyals. The increasing population growth rate, coupled with strong demand for housing units in Saudi Arabia, are forcing companies to find other tools for financing the real estate sector, aside from government.." [more]

Algeria says Saudi Opposition Rules Out OPEC Meet [Jan 21]
"OPEC will not hold an emergency meeting to shore up sagging oil prices with further output cuts because of Saudi opposition to the move, Algeria's Energy and Mines Minister Chakib Khelil told state radio on Sunday. Any attempt by OPEC to cut output further without Saudi participation would lack credibility as the kingdom contributes the largest single portion of output cuts, Khelil added.. ..Khelil said: 'There has been practically a decision not to meet before March 15... We should therefore wait until March 15 for OPEC to be able to review the market situation and take any decisions.' 'A reduction without Saudi Arabia will not have the expected impact as it won't have credibility'.." [more]

GCC to Hold Talks With Nuke Watchdog [Jan 21]
"Gulf states plan to hold talks with the UN nuclear watchdog, the International Atomic Energy Agency, over their plans for a regional nuclear programme, a top Gulf official said in remarks published on Saturday.. ..At a summit in Riyadh last month, Gulf leaders outlined plans for a joint programme for the use of nuclear technology for peaceful purposes. But the Gulf states have denied their desire for nuclear development is a result of Iran's atomic programme.." [more]

Beyond the Veil [Jan 21]
"Three prize-winning movie producers from New York are in the Kingdom in an attempt to understand what it is like to be a woman living in Saudi Arabia and to be a Saudi woman.. ..visiting various places in the Kingdom for the last eight days to do research for an independent feature film.. ..The planned film focuses on the struggle of an American woman to adapt to a lifestyle in an Islamic society. But the theme of the movie is perceptions and misunderstandings among characters, especially between an American feminist and her Saudi neighbor who wears the veil willingly, said Stern.." [more]

SAGIA Inks MoU with Singapore Company [Jan 21]
"In a bid to further create a pro-business environment, the Saudi Arabian General Investment Authority (SAGIA) signed a Memorandum of Understanding (MoU) with Jurong International, with the latter providing consultancy and advisory services toward the successful development and implementation of the Economic Cities and related developments in specific industries identified by SAGIA.. ..This collaboration will kickstart a strategic cooperation between the parties, which is the result of Singapore’s Prime Minister Lee Hsien Loong’s visit to the Kingdom in November last year.. ..Saudi Arabia was Singapore’s 14th largest trading partner in 2005, with total bilateral trade at a staggering S$15.6 billion.." [more]

Saudi-Pak Summit Talks Today [Jan 21]
"Custodian of the Two Holy Mosques King Abdullah will hold talks with Pakistani President Gen. Pervez Musharraf in Riyadh today on major regional and international issues and ways of strengthening bilateral ties.. ..Musharraf is here on the first leg of a five-nation Arab tour, which will also take him to Egypt, Jordan, Syria and the United Arab Emirates. Speaking to reporters in Islamabad before his departure, Musharraf said the main objective of his current Arab tour was to explore possibilities of adopting new initiatives to resolve the Palestine dispute.." [more]

New Policy for Recruitment [Jan 21]
" Labor Minister Ghazi Al-Gosaibi said yesterday that his ministry intends to implement a new policy where companies would have to prove that they are financially viable before recruiting workers from abroad.. .. the minister said that the guarantee of payment of salaries to foreign workers was a top priority for the ministry. On his part, Prince Salman warned yesterday against any superfluous recruitment of foreign guest workers. 'The import of foreign labor should not exceed the necessary requirement,' he told reporters. 'Young Saudi men and women should be given training opportunities to enter the job market'.." [more]

JEF Goes Interactive [Jan 21]
"The Jeddah Economic Forum (JEF) is to incorporate a sophisticated new technology as a key part of its proceedings this year. The instant feedback system will allow the audience to ask questions, feedback opinion and take part in instant polls to gauge opinion on topics brought up in the discussions and presentations. The move was in response to feedback to the organizers from attendees.. ..Two highly visible screens will display questions from the panelists or speakers to which they would like the audience respond during the 60-minute sessions.." [more]

Jan 14-Jan 20, 2007

A Convenient Time for Saudi Arabia to be Ambivalent [Jan 20]
"What is the main driver behind Opec power Saudi Arabia's oil policy? This question is sweeping trading floors and it could be unanswerable. Is it a desire to contain any potential threat from Iran or is it the kingdom's struggle to balance its own economic interests with those of top energy consumer the United States?.. ..Saudi Oil Minister Ali Al Naimi on Tuesday told oil traders not to panic and said there was no need for further action. These comments from the world's top oil exporter helped to push prices more than a dollar lower.." [more]

President Arrives for a Two Day Visit to Saudi Arabia [Jan 20]
"President General Pervez Musharraf arrived here Saturday on the first leg of his five-nation visit to the Arab countries in a bid to make fresh efforts for the resolution of the Palestine issue, that remains at the heart of tension and conflict in the region.. ..The President during his stay will meet King Abdullah bin Abdul Aziz and besides bilateral matters, regional and international issues, discuss the prevailing situation in Middle East including Palestine, Iraq, Lebanon and Afghanistan.." [more]

CMA Plans New Laws to Stabilize Stock Market [Jan 20]
"The Saudi stock market plummeted further last week against the backdrop of a decision by the market’s watchdog, the Capital Market Authority (CMA), to suspend the trading of two firms for incurring heavy losses.. ..The CMA Chairman Abdul Rahman Al-Tuwaijeri made it clear that the authority was determined to apply similar decisions across-the-board against all listed firms the losses of which exceed 75 percent of the capital, according to the law. But he expected such measures 'to reflect positively on the market and enhance investors’ confidence'.." [more]

German Delegation to Visit Kingdom [Jan 20]
"A 28-MEMBER business delegation from the state of Lower Saxony, Federal Republic Germany will be on three-day visit to Saudi Arabia starting from Jan. 29. The visit of a German business delegation led by Hirche, Minister of Economic Affairs Employment and Traffic of the Federal State of Lower Saxony would be aimed at promoting already fast growing bilateral trade relations between the Kingdom and the Federal Republic of Germany, said a press statement issued by German-Saudi Arabian Liasion Office for Economic Affairs (GESALO), the organizer in Riyadh.." [more]

Role of IPOs in Rebuilding Gulf Stocks [Jan 20]
"The overexuberance of investors connected with initial public offerings (IPOs) in the Gulf stock markets of 2005 certainly dimmed in the correcting market of 2006, but still the combined value of over $7.5 billion represented a 35 per cent increase over 2005's total of $5.6 billion.. ..Analysts tend to agree that the correction which the market underwent in 2006 augurs well for the future IPO market.." [more]

Saudi Arabia Plans to Boost Output Capacity 40% by 2009 [Jan 19]
"Saudi Arabia plans to increase its crude oil production capacity nearly 40 per cent by 2009 and double its refining size over the next five years to keep pace with growing global demand, the country's oil minister said. Ali Al Naimi said the plans are part of a $80-billion commitment that Saudi Arabia - the world's biggest oil exporter - has made to increase oil supplies in the global market.." [more]

CMA Halts Trading in Another Firm [Jan 19]
"The Saudi Capital Market Authority (CMA) has suspended trading in another loss-making company, Anaam International Holding Group, effective from tomorrow. According to information available on the Tadawul website, Anaam, formerly Mawashi Mukairish, has made losses equaling 95 percent of its capital.. ..Nahed M. Taher, chief executive officer of Gulf One Investment Bank, told Arab News yesterday: “I believe that this decision should have been taken more than a year ago. However, it is never late and the decision of suspending shares of some of the losing companies from the stock market is definitely the right decision.." [more]

Bisha Scandal Rocks Saudi Trading Week [Jan 19]
"The Saudi Tadawul All Share Index (TASI) started the past trading week with a sharp decline of 4.6 per cent in reaction to the suspension of Bisha Agricultural Development Co's trading. Analysts attributed the decision of the Saudi Capital Market Authority (CMA) to the initial financial results announced by the company in November 2006, which showed a profit of 51 million Saudi riyals for the first nine months of 2006.. ..CMA asked the company to republish its financial statements for the same period. The revised results revealed a 22.2 million riyal loss or 96 per cent for the first nine months of 2006. The CMA's decision has affected the market, sending ripples of fear that other distressed companies may face the same situation.." [more]

Saudi Arabia Seeks US$50 BN Foreign Capital Investments [Jan 19]
"Saudi Arabia today invited foreign investment to the tune of 50 billion dollars in sectors like infrastructure, oil and gas.. ..Speaking at a session on 'Investment Opportunities in Saudi Arabia' at ASSOCHAM, Abdul Rahman said the investment structure in these sectors would be mentioned in the proposed tenders for private sector investments of 30.6 billion USD, investment in oil and gas sector at 7.4 billion USD and in government sector at 12 billion USD.." [more]

Islamic States Lag in Science, Says Report [Jan 19]
"Members of the Jeddah-based Organisation of Islamic Conference (OIC) are lagging behind other countries in science and technology, the 75-member body said in a recent report. The report pointed out that only three countries among the OIC members produce high technology products for export.. ..OIC Assistant Secretary General for Science and Technology Dr Ali Akbar Salehi said that most member states are allocating minimum funds for science and technology.." [more]

IOM and the Kingdom of Saudi Arabia Partner on Tsunami Assistance [Jan 19]
"IOM's Director General, Brunson McKinley, begins a two-day visit to Saudi Arabia tomorrow, the first such official visit by an IOM director general to the country.. .. key part of his visit will be the signing of an agreement with Saudi Charity Campaign for the Relief of the Earthquake and Tsunami Victims in East Asia. The agreement will allow for the building of 500 new homes by IOM in Sri Lanka's southern district of Ampara, one of several badly affected by the 2004 tsunami that killed more than 35,000 people in the country.." [more]

Five Foreign Scholars Win King Faisal Prize [Jan 19]
"Scholars from Russia, Canada, the United States of America, Britain, Egypt and Morocco won the prestigious King Faisal International Prize for the year 2007.. ..The prize for Medicine has been awarded jointly to Canadian Professor Fernand Labrie, Head of the Department of Molecular Endocrinology, Central Hospital of Laval University at Quebec and Professor Patrick Craig Walsh, an American, in recognition of their respective contributions to therapeutic and surgical management of prostate cancer.." [more]

Saudi Arabia Casts Wary Eye on its Shiites [Jan 19]
"..With a Sunni-Shiite cold war descending on the region, Saudi Arabia appears to be hardening its sectarian battle lines. That, experts say, could mean that it once again will regard its Shiite minority, mainly clustered in eastern oases like this one, solely as enemies of the state.. ..'You don't see [Saudi King Abdullah] quashing any of this very, very public anti-Shiite rhetoric,' says Mr. Jones. 'That's a sign that he either isn't interested in doing it or that he can't'.." [more]

OECD Concerns Over Saudi Probe [Jan 18]
"There are "serious concerns" about the UK dropping a fraud probe into a Saudi arms deal, says the Organisation for Economic Co-operation and Development. The OECD, which drew up an anti-bribery treaty signed by Britain, has been reviewing the Serious Fraud Office decision announced last month. Prime Minister Tony Blair said the decision to end the probe was taken in the interests of national security.." [more]

Saudi-Indian Joint Commission Starts Meeting [Jan 18]
"The seventh session for the Saudi-Indian Joint Commission was inaugurated here today under the chairmanship of minister of commerce and industry.. ..It is worth mentioning that the volume of trade exchange between the Kingdom and India amounted to sr 47.12 billion in 2005.." [more]

Saudi Arabian Businessmen Want More Multiple-Entry Visas [Jan 18]
"India should offer a more liberal visa regime for Saudi citizens and grant more multiple-entry visas, Saudi Arabia's Ambassador to India Saleh Mohammad Al-Ghamdi said Thursday. 'Our people are facing problems in getting multiple-entry and long-term visa from the Indian embassy in Riyadh. They only get single-entry visa for one month,' he said while addressing a meeting of Indian and Saudi business leaders organised by the Confederation of Indian Industry (CII) here. 'I am sure India would look into this issue and reciprocate, as getting multiple-entry visa from the Saudi embassy here for Indian businessmen is not a problem,' the envoy added.." [more]

Morgan Stanley to Form Saudi Arabia Bank Venture [Jan 18]
"US investment bank Morgan Stanley, rapidly expanding in the Middle East, said it would form a joint venture with Capital Group, a securities firm based in Riyadh, Saudi Arabia. The venture will engage in underwriting, trading and wealth management, as well as an asset management business allowing Morgan clients to invest in the country. The office will start with 25 professionals but likely will double in size over the next year.. ..The deal to create Morgan Stanley Saudi Arabia is expected to be completed before the end of the first quarter. Terms of the transaction were not disclosed.." [more]

Don't Tie Bush's Hands on Iraq: Saudi Envoy to U.S [Jan 18]
"A vote by the U.S. Congress limiting the number of American troops that could be deployed in Iraq would send the wrong signal to the Middle East and make people wonder if President George W. Bush's authority has been weakened, Saudi Arabia's outgoing envoy to Washington said. Prince Turki al-Faisal, the former long-time Saudi intelligence chief who is about to retire after just over one year as envoy to Washington, also warned the United States against military action to set back Iran's nuclear ambitions, saying the consequences would be 'catastrophic'.." [more]

Saudi to Have 3M B/D Spare Oil in February [Jan 18]
"Saudi Arabia's spare crude oil production capacity will rise to 3 million barrels per day (b/d) in February after a second round of Opec output cuts, oil minister Ali bin Ibrahim Al Nuaimi said yesterday. He also told reporters in the Indian capital that long-term investments in the oil sector will not be determined by short-term crude oil price movements. 'Investments in the oil and gas industry is very long-term investment, it is not decided upon by short-term price movements'.. ..The Organisation of the Petroleum Exporting Countries has an estimated 100 exploration and production projects with estimated investments of $100bn to meet rising demand, but justifying spare capacity to calm oil market nerves has been difficult.." [more]

Saudi Arabia Launches 19 Information Centres [Jan 18]
"In a bid to boost its tourism industry, Saudi Arabia has installed 19 tourism information centres throughout the country.. ..'This move comes within the first phase of the tourism information centres project which aims to install 20 centres during 2006 and the beginning of 2007.."  [more]

The Desert Set for Production [Jan 18]
"Twenty-nine-year-old Saudi filmmaker Muhanned Kumkumji announced he would begin working on a new film project titled 'The Desert', saying that the recent Saudi production 'Kaif Al-Hal?' has ushered in period where Saudis will start to take film production more seriously.. ..“The Desert” is a story based on true events that take place in the desert Kingdom. The project will be 100 percent Saudi produced and funded and is expected to be released in early 2008.." [more]

Oil Prices Sink Close to $50 a Barrel [Jan 18]
"World oil prices dived close to $50 per barrel in London and New York yesterday, hitting fresh 19-month lows after the market ruled out the prospect of a new OPEC production cut.. ..Oil prices have now sunk by more than 16 percent since the start of 2007, dampened also by low heating fuel demand been caused by recent milder-than-expected winter weather in the United States and Europe.." [more]

US Defence Chief Seeks Saudi Support on Iran [Jan 18]
"US Defence Secretary Robert Gates touched down in Saudi Arabia yesterday angling for support from the kingdom in confronting Iran’s suspected pursuit of nuclear weapons. Gates, who flew into Riyadh from Kabul, was also expected to discuss Washington’s new strategy for taming sectarian bloodshed and chaos in Iraq when he sees King Abdullah for face-to-face talks.. ..Gates indicated that Washington was counting on Riyadh’s support in addressing hot-button issues in the region, starting with Iran’s nuclear programme. 'I think we can always use Saudi cooperation on these issues in the Gulf region'.." [more]

Saudi Backs US Plan, says Iraq Role Key [Jan 17]
"The US won Saudi backing yesterday for a US plan to stabilise Iraq, but Washington’s Gulf ally said success depended on Baghdad tackling sectarian strife driving the country towards civil war. Saudi Arabia fears that a plan announced by US President George W Bush to stabilise Iraq would lead to an early departure of US troops from Iraq, leaving the violence-ravaged country moving towards full-out civil war that might spill beyond Iraq’s borders.." [more]

Blair Under Fire Over Saudi Probe [Jan 17]
"Tony Blair has been accused of backing down on a pledge that his government would be "whiter than white", by ending a fraud probe into a Saudi arms deal. Lib Dem leader Sir Menzies Campbell asked if others would be dropped in the same way as 'this squalid affair'. But Mr Blair said the Lib Dems could not have it 'both ways'- continuing with the inquiry without dealing a serious blow to UK interests. He called their stance as 'an object lesson in the absence of leadership'.." [more]

Oil Steady Near $51, Saudi Comments Pressure [Jan 17]
"Oil steadied near $51 on Wednesday, after falling to a 20-month low the previous session as top exporter Saudi Arabia said there was no need to worry about the market's 16 percent slide so far this month.. ..'There is no need to worry because the market is in a very healthy condition,' the kingdom's oil minister Ali al-Naimi told reporters on Wednesday.." [more]

Saudi Able to Maintain Riyal Peg to Dollar [Jan 17]
"Saudi Arabia, the world largest oil exporter, has the ability to maintain the riyal currency’s exchange rate against the dollar despite fluctuations in crude prices, Finance Minister Ibrahim al-Assaf said yesterday. Saudi Arabia ruled out any change to its dollar peg on Monday, forcing markets to roll back expectations of a region-wide revaluation after the prospect was raised last week by the United Arab Emirates.. ..'We have the capability to preserve the exchange rate'.." [more]

Tehran Denies Seeking Riyadh Help on US Ties [Jan 17]
"Iran has denied it asked Saudi Arabia to ease tension with Washington over its disputed nuclear programme and Iraq but analysts said yesterday Tehran may be trying to prevent US-allied Arab states lining up against it.. ..Analysts said Larijani’s visit to Riyadh may be part of efforts to prevent Arab states such as Saudi Arabia, which fret about Tehran’s atomic ambitions, from lining up against Iran, a worry expressed by Iran’s leadership.." [more]

Summit Bid to Heal Rifts [Jan 17]
"Saudi Arabia’s ambassador to the Arab League announced yesterday that Riyadh will host the organisation’s next summit on March 28 and 29 in a bid to heal divisions in the region.. ..Riyadh had originally declined to hold the next annual summit following a 2006 meeting in Khartoum, resulting in an announcement the 2007 gathering of Arab heads of state would be held in Egypt’s resort town of Sharm el-Sheikh. Asked about the change in position, Qatan told reporters that King Abdullah of Saudi Arabia 'understands well that the region is passing through a critical and delicate period'.." [more]

Kingdom’s Role Crucial in Solving M-E Crisis [Jan 17]
"Saudi Arabia could serve as a steam engine in the current peace process around the world, according to an American professor of international law and diplomacy.. ..The main objective of Wedgwood’s first visit to the Kingdom is to formulate US foreign policies with the Saudi community. She met several Saudi community leaders and Saudi women she thinks are 'highly proficient and qualified when talking about regional politics' on current issues like Iraq and Lebanon.." [more]

SRMG’s Record Profit Will Attract More Investors [Jan 17]
"The record profit gained by the Saudi Research and Marketing Group (SRMG) in 2006 reflects the success of the restructuring program carried out by its top management during the past years, economic analysts said. SRMG’s financial results for 2006 will also encourage investors to put their money in its stocks, the analysts said after the company announced that it posted a net profit of SR261 million last year, registering a 44 percent increase compared to 2005.." [more]

Saudi Housing for Tsunami Victims [Jan 17]
"The Saudi Charity Campaign (SCC) will sign an agreement with the International Organization for Migration (IOM) on Jan. 20 to establish a model housing city in Sri Lanka at a cost of SR38.74 million to accommodate the country’s tsunami victims. The housing city to be named after Custodian of the Two Holy Mosques King Abdullah will have 500 houses, two schools, a clinic, a mosque, a playground and a shopping complex, according to Saeed Al-Harithy, head of the Saudi charity.. ..Al-Harithy described the housing city as one of the largest relief projects to be implemented by Saudi Arabia in Asia.." [more]

Saudi-Indian Ties Mark Unprecedented Increase [Jan 17]
"Saudi-Indian relations marked an “unprecedented” increase, with bilateral trade reaching around $10 billion at present from $7 billion in 2005, Saudi Ambassador Saleh M. Al-Ghamdi briefed the media.. .. He credited this development to “wise and inspiring leadership” on both sides, an increase in diplomatic visits, the ease in visa restrictions and agreements agreed to during the visit of Custodian of the Two Holy Mosques King Abdullah to India. Al-Ghamdi said there is a parallel increase of Saudi investment in India.." [more]

Saudi is Urged to Ease Tensions [Jan 16]
"Iran has asked Saudi Arabia to help ease tensions between the Islamic Republic and the US in a letter delivered by Tehran's chief nuclear negotiator to the Saudi King, a Saudi official said yesterday. The letter, from Supreme Leader Ayatollah Ali Khamenei and President Mahmoud Ahmadinejad was delivered by Ali Larijani to King Abdullah. A Saudi official said Iran wanted Saudi leaders to relay a goodwill message to Washington.." [more]

Rice Seeks Saudi Backing on Iraq [Jan 16]
"US Secretary of State Condoleezza Rice has arrived in Saudi Arabia as she tries to rally support for Washington's latest plans to try to stabilise Iraq. She was due to hold talks with top Saudi officials in the capital Riyadh.. ..Ms Rice has also met Jordanian, Israeli and Palestinian heads on her tour of the Middle East, and announced plans for a US-Israeli-Palestinian summit.." [more]

Measures Underway to Restructure Judiciary [Jan 16]
"Saudi Arabia is working on modernising its judiciary laws to eliminate bureaucracy in courts and to accelerate settlement of disputes. The step is part of a move, to be approved soon, for restructuring the Saudi judiciary. Media and legal circles in the West have been criticising the Islamic-based legal procedures in Saudi Arabia.." [more]

No Change in Saudi Currency Policy [Jan 16]
"Saudi Arabia ruled out any changes to its dollar-pegged exchange rate yesterday, driving the riyal to a 13-month low as markets rolled back expectations of a currency revaluation by the world's biggest oil exporter.. ..Saudi Arabian Monetary Agency (Sama) dismissed any suggestion of a riyal revaluation this year, becoming the third of the six Gulf central banks to say it planned to stand by a currency regime set up to prepare for monetary union in 2010.." [more]

Saudis Top Master Index Consumer Confidence [Jan 16]
"Saudi Arabia topped the MasterIndex consumer confidence in the region with the highest confidence score of 97.3.. ..Buoyed by strong economic growth and abundant liquidity fuelling both public and private investments in the Middle East, consumer confidence in the region for the six months ahead is generally optimistic, according to the latest MasterIndex survey released yesterday.." [more]

Finland Seeks Joint Venture Projects [Jan 16]
"Finnish Foreign Trade and Development Minister Paula Lehtomaki announced yesterday that his country is preparing to sign a reciprocal investment protection agreement with Saudi Arabia aimed at bolstering trade ties. Saudi Arabia had a 634-million-euro trade deficit with Finland in 2005.. ..RCCI Chairman Abdul Rahman Al-Jeraisy said that he expect a local businessmen to visit Finland in the near future. 'As a result of these discussions, we would like to send a Saudi trade delegation to Finland to identify new areas of interests'.." [more]

Blair Refuses to Answer Calls to Reopen Saudi Arms Probe [Jan 15]
"British Prime Minister Tony Blair has refused to answer a call from 130 campaign groups to reverse his decision to scrap a corruption inquiry into the Al Yamamah arms deal with Saudi Arabia. Lobby groups including Amnesty International, Oxfam, Friends of the Earth and Transparency International have written to Blair and other ministers in an effort to get a Serious Fraud Office inquiry into the deal between BAE Systems.. .. and the Saudi government reopened.." [more]

Spanish Minister Cancels Speech at Saudi University Because of Ban on Women Reporters [Jan 15]
"Spain's justice minister on Monday canceled a speech he was to deliver at a university in the Saudi capital after authorities there refused to allow women journalists accompanying him to attend, news reports said. Minister Juan Fernando Lopez Aguilar was due to give the lecture at Riyadh's Imam Muhammad bin Saud Islamic University, regarded by liberal Saudis as the heart of Saudi conservatism. Women are strictly banned from the men's campus.." [more]

Ministries Launch Websites [Jan 15]
"..The Ministry of Commerce and Industry has announced that companies wishing to apply for commercial registration may do so electronically by downloading the application form. This will greatly reduce the time spent on bureaucratic procedures. A number of Saudi and international companies as well as government organizations are taking part in an e-exhibition being held on the sidelines of the conference which ends Wednesday.." [more]

KM Properties to Invest $1.36bn in Saudi Arabia [Jan 15]
"Dubai-based KM Properties plans to invest Dh5 billion ($1.36 billion) in Saudi Arabia’s property sector. The real estate arm of the Knowledge Management Group (KMG) today announced a major Middle East expansion with new offices in three Saudi cities, Dammam, Riyadh, and Jeddah.. ..An entrance of this scale is expected to create a substantial number of jobs for the Saudi market. The company is also in discussion with various developers in the country and is expected to announce a number of joint ventures soon.." [more]

Do Not Isolate Iran: Saudi King Abdullah [Jan 14]
"Italian Deputy Prime Minister and Foreign Minister Gianfranco Fini said here yesterday at a joint press conference with Foreign Minister Prince Saud Al-Faisal that Italy called on Iran to play a role in solving many problems in the Middle East. 'We hope that Iran will be determined to solve regional problems since it is a large country with a significant influence,' he said. Fini also said that both Italy and the Kingdom agreed on the danger of isolating Iran from the international community. Both, he said, were determined to solve the Iranian nuclear crisis through 'diplomatic efforts'.." [more]

Saudi Souq to Open Soon [Jan 14]
"The Saudi version of online auction site Souq.com will be up and running in the next three months, the firm’s CEO confirmed this week.. ..Mouchawar revealed that 2006 was a big year for the firm in terms of sales for both the UAE and Jordan version of the site. 'In November alone, Souq.com listed over 18,000 new auctions, recorded over five million page views, and traded nearly six million dirhams in gross merchandise volume'.." [more]

Saudi Stocks Tumble on Selling Pressure [Jan 14]
"The Saudi bourse tumbled to its lowest close in 26-1/2-months yesterday on selling spurred by fears that weak 2006 earnings could drag the index below 7,000 points for the first time since late 2004.. ..'Investors are panicking because there is no floor to decreasing investor confidence in Saudi,' said Hani Baothman, chief executive of Aayan Capital. 'If you walk in the streets you hear rumours that the market is going down to 6,800 points, and no one has a good reason.'.. ..The Riyadh bourse erased 52.5% of its value in 2006 after a crisis of confidence gripped regional investors.." [more]

Premier of Lebanon Goes to Saudi Arabia to Get Finance Support [Jan 14]
"Lebanese Prime Minister Fouad Al-Siniora on Saturday went to Saudi Arabia in order to get financial support to the plan of the country’s reconstruction and reforms that will be presented at an international conference on aid to Lebanon to be held in Paris on January 25.. ..The Lebanese prime minister urged Arab leaders to provide support to his country in efforts aimed at the settlement of the political crisis that swept Lebanon and establishment of economic stability.." [more]

E-Government Portal to Become Functional [Jan 14]
"In what is seen as a significant move, the Kingdom’s e-government national portal will become operational at the first national e-transaction conference.. ..Dr. Abdul Rahman Al-Orainy, adviser to the minister of communications and information technology, and Ali S. Al-Soma, the minister’s adviser for IT and director general of the e-government program, said the e-government portal would allow both citizens and expatriates to access government information on the Internet. 'It’s a major initiative for promoting transparency in government functioning and increasing productivity, efficiency and the speedy delivery of services to all people, including visitors'.." [more]

Taoiseach Heads Gulf Trade Mission [Jan 14]
"Taoiseach Bertie Ahern heads to the Mideast tomorrow as part of a trade mission to encourage multi-billion euro export links between Irish companies and business leaders across the gulf. Mr Ahern will lead a trade mission of 170 employers from 114 firms to Saudi Arabia, Abu Dhabi and Dubai. The expedition has been organised by Enterprise Ireland , which plans to increase exports to the region by €3 billion by the end of 2007.." [more]

Regional Stability to Top Rice’s Talks With Saudi Leaders [Jan 14]
"Urging Arab states to step up support for the Iraqi government and exploring prospects for a renewed 
Israeli-Palestinian peace effort are high on the agenda of US Secretary of State Condoleezza Rice’s upcoming visit to the Kingdom. Although specifics are not available, Melissa Ford, press attaché at the US Embassy in Riyadh, confirmed yesterday that Rice would arrive here today or tomorrow. “Rice will be accompanied by top US officials and will hold talks with senior Saudi officials during her stay here,” said Ford. Ford would not provide further details of Rice’s visit.." [more]

Male Guardians Make It Hard for Women to Work [Jan 14]
"Attitudes toward working women in the Kingdom are changing. Nonetheless, some working women find it difficult to balance the demands of their careers and the needs of their husbands and families. This is especially the case with women married to men who are unsympathetic to them working. Speaking to various career women, it does seem that the husbands and male guardians of many do not take seriously the jobs that many women do.." [more]

Khursaniyah Clarification [Jan 14]
"The report headlined “Aramco Defers Khursaniyah Project” that appeared on page 15 of the Arab News on Saturday, Jan. 13, 2007 edition, incorrectly reports that “Saudi Aramco postponed the commissioning of the 500,000 bpd Khursaniyah oil and gas project to the fourth quarter of the year, a few months later than the previously announced date.. ..The Khursaniyah Project has always been scheduled for completion in the fourth quarter of the year. Saudi Aramco Vice President for Project Management Ali A. Al-Ajmi said, “There has been no change in the Khursaniyah schedule and the program is progressing as planned.." [more]

Emergency OPEC Meeting Still Up in the Air [Jan 14]
"A senior Iranian oil official said on Sunday OPEC had still not decided on whether to hold an emergency meeting soon to discuss a 15 percent drop in crude prices since the start of the year, a ministry Web site said. 'There is still no official decision over holding an urgent meeting of OPEC in the coming days'.. ..OPEC President Mohammed al-Hamli, also UAE oil minister, said on Thursday OPEC was deeply concerned by the price drop and stood ready if necessary to bolster the world market.." [more]

Jan 7-Jan 13, 2006

Egypt, Saudi Arabia Warn Reconciliation in Iraq Crucial for Bush's New Strategy [Jan 13]
"Reconciliation and national unity in Iraq are necessary for the success of U.S. President George W. Bush's new strategy for the war-torn country, Egypt and Saudi Arabia warned Saturday. Spiraling sectarian violence in Iraq has left many Arab officials fearful of a widescale conflict pitting Sunnis against Shiites.. ..A change in U.S. policy toward Iraq was inevitable, also said Saudi Foreign Minister Saud al-Faisal.. ..'Unity of Iraq is necessary, independence of Iraq is necessary and peace in Iraq is necessary," al-Faisal said. "None of these have been achieved so far. There must be a change, of course'.." [more]

Saudi to Balance Tough Oil Talk With India Unease [Jan 13]
"Saudi Oil Minister Ali al-Naimi and his Opec peers from Iran and Nigeria face a dilemma when they travel to India next week – sweet-talk a major consumer or talk tough on tumbling oil prices at the risk of offending their host.. ..Through long-term supply deals, joint refinery investments or government pledges, expanding Asian consumers like India and China offer a guaranteed, growing source of oil sales for decades – and falling prices will spur that demand. 'India wants a lower price than this,' said Jung.." [more]

Rice Urges Saudis To Do More to Help Iraq [Jan 13]
"Secretary of State Condoleezza Rice said Thursday Saudi Arabia should do more to help the Iraqi government because a 'failed state' next door to the kingdom would ensure an expanded role in the region for old rival Iran. Testifying before the House Foreign Affairs Committee, Rice said the 'single best thing' Saudi Arabia could do would be to provide debt relief for Iraq.. ..To the extent that the kingdom has been active in Iraq, she said, it has been to encourage Sunnis to join the political process in the country. The Saudis also have made clear that they favor more equitable treatment for the Sunni minority in Iraq, she said.." [more]

I Could Live in Kingdom Easily [Jan 13]
"The head of a Boston-based cultural exchange program said here on Thursday that the idea to bring US university students to the Kingdom is to give them the opportunity to experience the difference between how the Kingdom is portrayed in the US media and the reality on the ground. 'It’s clear to me that our media was certainly distorted,' said J. Gregory Payne, director general of the Saudi-American Exchange, a public diplomacy organization founded in the wake of the Sept. 11 attacks.. ..Over 40 college students are in the Kingdom on a cultural tour sponsored by the US oil giant Chevron.." [more]

GCC's Nuclear Programme Will Be a Role Model - Saud [Jan 13]
"The Saudi foreign minister has said that the Gulf Cooperation Council's (GCC) nuclear programme will be a model that can be adopted by others.. ..Prince Saud Al Faisal said the GCC states decided to enter into this vital industry because of its potential for peaceful uses. He said the GCC states would build a nuclear industry under strict controls and with peaceful intentions. It would be an example for anyone who wants to adopt the technology but without any intention for developing nuclear weapons.." [more]

Ma'aden Plans to Raise $2.5b in IPO [Jan 13]
"Publicly-owned Saudi mining giant Ma'aden is planning to raise up to $2.5 billion in an initial public offering (IPO) that will likely take place in the third quarter of this year, the company said. The government will retain a 50 per cent stake in the company, which operates one of the largest phosphate deposits in the world, while 40 per cent will be offered to the public.." [more]

Saudi Deepens Supply Curbs [Jan 12]
"Top oil exporter Saudi Arabia will deepen crude supply curbs to Asian refiners next month to comply with Opec's second output cut, industry sources said yesterday, but the news failed to stem a sharp slide in prices.The cuts, which came one day after European refiners said they would receive mostly steady supplies next month, were in line with refiners' expectations, and analysts said they were already looking ahead on what action Opec might take next.." [more]

Saudi Arabia's Trade Deficit with GCC Countries Widens in 2005 [Jan 12]
"Saudi Arabia's non-oil trade with the other Gulf Cooperation Council (GCC) countries recorded a deficit of 5.8 billion Saudi riyals in 2005, compared to 1.4 billion riyals in 2004, according to a report released by the Saudi Arabian Monetary Agency (SAMA).. ..The report indicated that Saudi Arabia's imports from the GCC states represent 11.5 per cent of total imports, while exports to the GCC states increased by 19.7 per cent compared to the previous year to 19.8 billion riyals, 27.8 per cent of total Saudi non-oil exports.." [more]

Bush Discusses Iraq Plan With Saudi King [Jan 12]
"U.S. President George W. Bush discussed on Thursday his new plan on Iraq through telephone with Saudi King Abdullah, White House national security spokesman Gordon Johndroe said. They talked about U.S. new strategy announced on Wednesday night and forthcoming visit by U.S. Secretary of State Condoleezza Rice to the Middle East.. ..'Let's see the results, outcomes of those discussions.... I think everyone in the region understands what is at stake and what needs to be done'.." [more]

Saudi Oil, Foreign Ministers Focus of Reshuffle Talk [Jan 12]
"Speculation is mounting in Saudi Arabia about the fate of key ministers in a possible cabinet reshuffle in March, but diplomats and analysts say there are no clear indications on who stays and who goes.. ..Saudi rulers have set a pattern of announcing new cabinets every four years at the onset of the third month of the Islamic calendar. That would posit a reshuffle around March 20. But commentators say there are no hard-and-fast rules.." [more]

Arab Foreign Ministers to Meet Rice [Jan 12]
"Foreign ministers of the Gulf Cooperation Council countries and their Egyptian and Jordanian counterparts will hold a meeting with US Secretary of State Condoleezza Rice in Kuwait next Tuesday.. ..The source, who asked not to be identified, said the meeting would give the eight Arab foreign ministers the opportunity to express their views the Iraq strategy announced by President Bush. The source added that the Arab foreign ministers will hold a consultative meeting to arrange for their talks with Rice.." [more]

Gulf Reviews Currency Peg [Jan 12]
"Central banks of Gulf Arab oil producers are reviewing foreign exchange pegs to the dollar and may agree as early as March to switch to another currency or basket of currencies.. ..The GCC pegged their currencies to the dollar to prepare for monetary union in 2010. With the dollar having slid against the euro and imported inflation rising, policymakers are reviewing the currency pegs, Al Suwaidi said. 'Changing the peg is a GCC decision. We went into it together. We will go out of it together'.." [more]

Tadawul on a Rollercoaster [Jan 12]
"The Saudi Tadawul All Share Index (TASI) was subjected to intense fluctuations during the first week of this year. This was due to major differing in corporate results expectations for listed companies and consequently, probable directions of the equity market and more speculators are convinced that they can compensate their early losses by betting on more speculations in losing and small companies.." [more]

Assaf to Lead High-Level Saudi Delegation to India [Jan 12]
"Saudi Finance Minister Dr. Ibrahim Bin Abdulaziz Al-Assaf will lead a 75-member strong business delegation to India for a two-day seventh Saudi-Indo Joint Economic Commission Meeting in New Delhi from January 18 to 19.. ..during the JEC meeting the two sides will discuss and explore possibilities of promoting economic relations in areas such as Information and Communication Technology (ICT), energy, up-stream and down-stream petrochemical projects, railway network, infrastructure development in the forthcoming economic cities as announced by King Abdullah and other knowledge-based industries, education and culture.." [more]

U.S. Can't Abandon the Iraqis, Saudi Says [Jan 12]
"America must stay the course in Iraq until the Iraqi government and people agree they are prepared for U.S. troops to withdraw, the Saudi Arabian ambassador to the United States said Thursday at Brigham Young University. Stuart Johnson, Deseret Morning NewsPrince Turki al-Faisal, Saudi Arabian ambassador to the United States, speaks to a packed house at BYU Thursday. 'The Kingdom (of Saudi Arabia) has always maintained that since America came into Iraq uninvited, it should not leave uninvited'.. ..Al-Faisal later told reporters, 'There is a huge price being paid, but it is a price not just being paid by Americans. It is also being paid by Iraqis'.." [more]

Institute Planned to Build Energy Cadre [Jan 12]
"Negotiations are under way between a government agency and an international company to establish an institute of energy and gas in the Eastern Province, informed sources said yesterday. The institute is likely to be launched within two years. The Eastern Province was selected for the institute because it is the center of the Kingdom’s petroleum industry. The institute, which will be first of its kind in the Kingdom, is designed to train Saudis to work in this sector.." [more]

Saudi Arabia Major Driver in Gulf Business Aviation Boom [Jan 11]
"Saudi Arabia is currently a major growth driver in the development of business aviation across the Middle East.. ..It is the largest market in the region, including North Africa, and has more than 160 private and publicly owned aircraft.. ..''Business aviation in the Middle East will be worth around US $800 million by 2012 - double its current level as people increasingly turn to 'aviation-on-demand' for privacy, safety and corporate efficiency,' said Al Naqbi.." [more]

Saudi Index Plunges to Lowest Close in 2 Years [Jan 11]
"Saudi Arabia’s stock index fell to its lowest close in more than two years yesterday as investors sold banking stocks on fears of weak earnings.. .."Profits in the banking sector fell 16% quarter-on-quarter in the third quarter and there’s concern that might not be over yet," said Haissam Arabi, head of asset management at Shuaa Capital. 'Banking sector earnings may continue to deteriorate and that is scaring the market.' The stock market slump of last year hit earnings of banks which according Cairo-based EFG-Hermes earned around 40% of their 2005 income from non-interest operations.." [more]

Saudi Ministry Denies Arrest of Al Sadr Aide [Jan 11]
" Saudi Arabia denied the arrest of an aide to Iraqi Shiite leader Moqtada Al Sadr in Madinah. Saudi Interior Ministry spokesman Major General Mansour Al Turki told reporters yesterday Hassan Al Zurkani of Al Sadr's office was not arrested but was called to Madinah to discuss with him safety measures during his visit to Al Hujra Al Shareefa (the room where the Prophet Mohammad [PBUH] is buried).. ..News agencies alleged on Tuesday that Al Zurkani was arrested in Madinah. Some agencies even predicted that the Al Sadr official was caught distributing sectarian leaflets and books while others said that he has been involved in provocative actions to undermine the security of Saudi Arabia.." [more]

SR10 Billion Allocated for Scholarships [Jan 11]
"..King Abdullah has allocated SR10 billion for a major scholarship program under which more than 18,000 Saudi students have already been sent to American, European and Asian universities for higher studies, according to Higher Education Minister Dr. Khaled Al-Anqari.. ..the minister said preparations were under way to dispatch 7,500 more students to foreign universities under the scholarship program, which is named after King Abdullah.." [more]

Unstable Middle East Will Pose Global Threat [Jan 11]
"Switzerland-based organisation World Economic Forum (WEF) has highlighted "instability in the Middle East" among a number of risks the world will be faced with in the next 10 years.. ..On the Middle East, WEF says the deteriorating situation in Iraq and elsewhere in the region occupied the attention of some governments, thus reducing focus on other risks and 'increasing the fear of the fragmentation of the international system.' It said overall stability in the Middle East is deteriorating, 'despite rapid growth and moves towards stability in some Gulf countries'.." [more]

500 Publishing Companies Set to Take Part in Riyadh Book Fair [Jan 11]
"The second Riyadh International Book Fair has been scheduled to take place from Feb. 27 to March 9, with organizers expecting about 500 publishing houses from the Arab world to attend.. ..Last year’s book fair in Riyadh was considered a success because Saudi writers and intellectuals were invited at the ministry’s expense from all parts of the Kingdom. Around 200 Saudi writers and academics of both sexes attended the 10-day event. For the first time last year, women writers were allowed to attend book-signing ceremonies.. ..Despite the cultural clashes that occurred at the fair, it was the first high-profile opportunity for Saudis to purchase books that were previously unavailable in the Kingdom.." [more]

Lawmaker Warns Saudi Arabia against Crisis [Jan 10]
"Speaking to FNA, member of the Iranian Parliament's National Security and Foreign Policy Commission, Heshmatollah Felahat-Pisheh.. ..Referring to Saudi Arabia's role in sowing discord between the Muslim Shiites and Sunnites and deteriorating violence in Iraq as well as its negative stances in the face of the Israeli war against Lebanon, the official warned Saudi officials that they will also have to sustain the damage if any crisis emerges in the region.." [more]

129 Saudi Firms Banned From Recruitment [Jan 10]
"Saudi Minister of Labor has decided to bar 129 companies from recruiting new employees for two years. The decision was made due to the companies' failure to meet the 70 percent required percentage for Saudisation and for not registering their Saudi workers with the General Organisation of Social Insurance (GOSI).. ..Many governmental sectors have successfully achieved the target; however, in the private sector the goal has been faltering.." [more]

StanChart in Saudi Licence Talks [Jan 10]
"Standard Chartered is in talks to establish a presence in Saudi Arabia and has applied for a banking licence in the world's biggest oil exporter.. ..Standard Chartered is one of three banks vying for ABN Amro's 40 per cent stake in Saudi Hollandi Bank, sources familiar with the talks said in November. Standard Chartered has repeatedly declined to comment on the matter.." [more]

Cabinet Reshuffle Possible [Jan 10]
"..According to the constitution of Saudi Arabia, executive leadership — including ministers and all senior officials — should be changed once in four years. King Abdullah bin Abdul Aziz has decided to invoke this article of the constitution. The Saudi Monarch’s decision will affect several important ministries and give young blood an opportunity to perform and participate in modern and ambitious projects.." [more]

Saudi Aramco Expected to Reduce 12-14% Oil Supply to Asia [Jan 10]
"A Bloomberg News Survey of six refiners in Asia expected Saudi Aramco, the world's biggest state oil company, to reduce supply to Asia the most in two years in February by 12 to 14 percent.. ..In its efforts to prevent a drop in oil prices, which decreased by 9 percent since December 2006, the Organization of Petroleum Exporting Countries (OPEC) will reduce output by 500,000 barrels.." [more]

Oil Hits 19-Month Low [Jan 10]
"Oil plunged more than $2 a barrel on Tuesday to its lowest level in a year-and-a-half as mild winter weather in top consumer the United States pushed prices through a crucial technical support level.. ..The steep price drop has rung alarm bells in Opec producers and the group's president, the UAE, is discussing further action with member states. But traders remained doubtful that Opec could turn the tide.." [more]

Rice Mideast Trip Begins on Friday [Jan 10]
"US Secre-tary of State Condoleezza Rice will begin another trip to the Middle East on Friday aimed at reviving Arab-Israeli peace moves.. ..In addition to efforts to rekindle moribund Israeli-Palestinian negotiations, Rice is expected to brief Arab leaders on President George W Bush’s new strategy for ending the war in Iraq - due to be unveiled in a speech tonight.." [more]

Saudis Stung by Downer Criticism [Jan 9]
"The office of the Foreign Affairs Minister said last night there had been a misunderstanding after Alexander Downer offended Saudi Arabia with comments about an investigation by Australian authorities into the funding of a mosque by Saudi extremist groups.. ..The Saudi statement chastised Mr Downer for not telling the embassy about the investigation. 'The embassy states that it has no knowledge of the content of the statement of the Australian Foreign Minister and that no co-ordination with the embassy had taken place'.." [more]

Saudi King Weighs Major Cabinet Reshuffle [Jan 9]
"King Abdullah of Saudi Arabia is considering a major cabinet reshuffle soon, the first since he ascended to the thrown of the oil-rich kingdom, diplomats and Saudi media said yesterday. The reshuffle may include key posts such as Foreign Minister, which has been held by Prince Saud Al-Faisal for more than 30 years, and the influential Oil Minister.. ..The Saudi independent Internet news service, Elaph, also reported yesterday that new ministers would be chosen among members of the Shura Council, an advisory assembly to the government named by the king.." [more]

Asharq Al-Awsat Interviews Saudi Crown Prince Sultan Bin Abdulaziz [Jan 9]
"..Sitting in his private office, the Saudi crown prince discussed numerous issues of current interest including Iraq, Lebanon, and Iran. When discussing each of these issues, he asserted that the Saudi king and the rest of the country's leadership are concerned about maintaining the Arab and Islamic world's unity and to guarantee its security and its citizens' wellbeing.. ..The Following is the full text of the interview.." [more]

Opec Holds Discussions on Possible Further Action to Stabilise Market [Jan 9]
"Opec producers, concerned about a steep drop in oil prices, are holding consultations on possible further action by the exporter group to stabilise oil markets, a senior Opec delegate said on Monday.. ..'Saudi Arabia is among other countries that are open to all possibilities according to consultations with other Opec member states and developments in the market'.." [more]

Governor of Riyadh Region Receives Harvard Univ. Delegation [Jan 9]
"Prince Salman bin Abdul -Aziz, the Governor of Riyadh region, received here today the delegation of Harvard University, which comprises 40 Academicians.. ..During the meeting Prince Salman discussed with the visiting delegation a number of issues, notably the reformatory measures taken by the government of the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz at the political and economic domains, as well as the role being played by the Shoura (consultative) Council in the decision making , and the achievements attained in this respect.." [more]

Iraqi M P accuses Iran of Massing Troops [Jan 9]
"An Iraqi MP accused Iran of deploying thousands of fighters near Iraq’s borders with Saudi Arabia to 'transmit disorder' into the Kingdom.. ..'Iran has started recently forming a 10,000 military brigade, dubbed ‘Brigade of Makkah, with bases in Al-Samawah and Al-Nakhib Desert (in Iraq), near the Iraq-Saudi border, in order to transmit disorder across borders,' the newspaper quoted MP Mohammad Al-Daeni as saying.." [more]

No Terrorist-Funded Projects in Australia, Says Diplomat [Jan 9]
"A senior Australian diplomat said yesterday that no group from the Arab world with terror links has funded any social or religious project of Australia or Australian-based organizations.. ..Biggs was commenting on meida reports, which have quoted Foreign Minister Alexander Downers as saying that his government is in talks with Saudi Arabia over the issue of funding. Downers said he appreciated the efforts of the Kingdom in this regard and made it clear that no Australian organization is receiving funds from extremist groups.." [more]

Can Saudi Arabia Help End the Political Crisis in Lebanon? [Jan 8]
"..But the question here is can Saudi Arabia play such mediating role to end the country’s crisis? knowing it’s a key U.S. ally in the region.. ..About the meeting between him, Hezbollah number two Sheikh Naim Kassem and King Abdullah in Saudi Arabia in December, Fneish said: "The Jeddah meeting was positive, especially on rapprochement between the kingdom and Hezbollah," adding that it was 'the first of its kind' between a Saudi monarch and Hezbollah. 'Saudi Arabia can use its influence to end all discord' between Sunni Muslims and Shias, he said.." [more]

Govt in Talks With Saudi Arabia Over Mosque Funds [Jan 8]
"The Federal Government says it is in discussions with the Saudi Arabian Government to prevent extremist organisations funding groups within Australia. Foreign Affairs Minister Alexander Downers says he is not aware that any Australian organisation is receiving funds from Saudi extremists. He has confirmed the Government has made recommendations regarding an Adelaide mosque which applied to receive funds from the Saudi Government.." [more]

MoU to Set up Saudi Mining Company Signed [Jan 8]
"Rakisa Holding Company, the lead developer of the Prince Abdulaziz bin Musaed Economic City in Hail, and a consortium of BNP Paribas and BMG Financial Advisors have signed a memorandum of understanding to set up a new SR1.5 billion ($400 million) mining company in the kingdom.. ..'The studies we have conducted for the Economic City in Hail anticipate an annual growth rate of 9.1 per cent in mining-related investments.' This may turn the northern region into a hub of manufacturing as well as another centre for Saudi mining.." [more]

Saudi Prince Speaks on Thursday at BYU [Jan 8]
"Prince Turki Al-Faisal, former Saudi Arabian ambassador to the United States, will discuss 'Balance in the Middle East Community' at a Middle East Studies Lecture on Thursday at 11 a.m. in the Joseph Smith Building Auditorium on the Brigham Young University campus.. ..The lecture is free and open to the public.." [more]

Crude Gains as Saudis Pledge to Honor Cut [Jan 8]
"Crude-oil futures rose early Monday on reports that Saudi Arabia, the world's largest oil exporter, will fully implement production cuts agreed to in previous meetings of the Organization of Petroleum Exporting Countries. That would mean a cut of 158,000 barrels of oil a day starting in February, in addition to the 80,000-barrel-a-day reduction that the country agreed to in November.. ..Saudi assurances that it will fully implement the February cut agreed by the OPEC cartel calmed some nerves in the energy pits.." [more]

GCC States Urged to Pressure US [Jan 8]
"A rights watchdog has called for pressure from Gulf Cooperation Council countries on the United States to release their citizens held at Guantanamo Bay.. ..'The Gulf and US governments have long-standing and extensive ties. We expect that if this demand was made by such a close ally to the United States, it would surely merit some positive action from their government'.." [more]

Saudi and Malaysian Firms to Build Jeddah Port [Jan 8]
"A joint venture between Saudi Trade and Export Development Company (Tusdeer) and Seaport Terminal of Malaysia will develop a third container terminal at Jeddah Islamic Port (JIP).. ..The project will expand JIP capacity by 45 per cent, and help maintain Jeddah's lead as the main port of the region. The new container terminal is also expected to contribute to the planned 'Land Bridge' with the completion of the Saudi Railways project, creating a fast and efficient land-based link from the Red Sea to the Arabian Gulf.." [more]

AIDS Cases on the Rise in Saudi Arabia [Jan 8]
"The number of HIV positive cases in Saudi Arabia is on the rise despite the Kingdom’s efforts to contain the spread of the deadly disease. The number of HIV positive case reported in 2005 was 1,201, with 311 of them being Saudis and 890 non-Saudis. This brings the total number of HIV/AIDS patients in the Kingdom to 10,181. Saudis make up 2,316 of these, while 7,805 are foreigners, said Dr. Salah Ahmed, the office manager in the Department of Preventive Medicine and Infectious Diseases at the Ministry of Health (MoH).." [more]

Value of Saudi Shares Traded Reached Over SR5.26 Trillion in 2006 [Jan 8]
"The Saudi stock market suffered massive losses in 2006. The Tadawul All-Share Index (TASI) closed at 7,933.29 points at the end of 2006 as compared to 1,6712.64 points for the previous year. The index dropped by 52.53 percent. The highest close for the index during the year was 2,0634.86 points on Feb. 25, 2006, according to Saudi Arabian Equity Market Annual Review — 2006 released by the Tadawul on its website on Saturday.." [more]

Saudi Calls for Lebanon Unity [Jan 7]
"Saudi Crown Prince Sultan bin Abdulaziz urged Lebanese leaders to negotiate an end to their political crisis after Lebanon’s opposition said it would step up street protests to topple the government Saudi Arabia backs.. ..Lebanon’s Shia Hezbollah group and its allies plan to step up a campaign of protests and disruption next week to try to topple the Lebanese government by paralysing the country. The move is an attempt to break a deadlock that has defied mediation efforts and fuelled Sunni-Shia tensions.." [more]

Saudi Arabia, France Urge Iran to Curtail Nuclear Programme [Jan 7]
"Saudi Arabia and France called Saturday on Iran to accept international demands to halt uranium enrichment, saying the Mideast should be free of weapons of mass destruction. Visiting French Foreign Minister Philippe Douste-Blazy and his Saudi counterpart Prince Saud al-Faisal stressed diplomacy must be the way to solve Iran's ongoing standoff with the West over its nuclear programme.. ..'Israel should not be excluded from the international efforts and procedures," he added, reflecting regional demands that the Jewish state also be scrutinized for its nuclear programme'.." [more]

Saudis Confirm Eurofighter Order [Jan 7]
"Saudi Arabia has said it will start taking deliveries of 72 Eurofighter jets from UK defence company BAE Systems 'very soon'. The comments come a month after the Serious Fraud Office controversially dropped an investigation into a 1980s BAE Systems deal with Saudi Arabia. It was reported that the Saudis had threatened to cancel the Eurofighter deal unless the probe was halted. The UK government said the inquiry was dropped for national security reasons.." [more]

Saudi Governor: Oil Price Drop Could Cause Problems [Jan 7]
"The sharp fall in oil prices over recent days has not affected Saudi economic policy, but problems could arise if the retreat continues, the governor of the Saudi Arabian Monetary Agency said on Sunday. Asked about the decline in oil prices, Governor Hamas Saud al-Sayyari said: 'The macro policy is not going to be affected at the current level of the price.' 'But the problem is if it would continue and if it would fall more substantially. It could affect revenue'.. ..As the world's largest oil producer, Saudi Arabia is heavily dependent on oil revenues, which account for about three quarters of government revenues.." [more]

Putin to Visit in Saudi Arabia [Jan 7]
"Russian President Vladimir Putin will pay an official visit to the Kingdom of Saudi Arabia next month, answering and invitation sent to him by King Abddullah Bin Abdel Aziz. According to the Riyadh daily, the two leaders will sign commercial accords and discuss latest regional developments.." [more]

Agriculture Stocks Boost Saudi Index [Jan 7]
"Saudi Arabia’s stock market gained for a second consecutive trading day yesterday, boosted by agriculture stocks.. ..The Saudi index closed up 0.45% at 7,969.18 points. Five agriculture stocks, including Tabuk Agricultural Development Co and Al Jouf Agriculture Development Co surged 10%, the daily limit. The market’s index of agriculture companies soared 8.36%, according to the Saudi bourse website.." [more]

Saudi Airline Denies it Plans Expand Fleet [Jan 7]
"Saudi Arabian Airlines is not planning immediate aircraft orders and does not know how much it would spend on any future purchases, a company spokesman said yesterday. Last week, the Business magazine quoted unnamed sources as saying the firm was discussing with Airbus and Boeing the purchase of $12 billion of aircraft.. ..The last major purchase the airline made was a deal in 1995 with Boeing for 61 aircraft, including several 747 aircraft.." [more]

Crude’s 10% loss in 2007 May Add to Opec Resolve to Cut Output [Jan 7]
"An exceptionally mild winter, new sources of oil supply and slower economic growth in top energy consumer the US have triggered a bigger oil price slide than even the most pessimistic analysts predicted. The 10% fall since the start of the year – the most dramatic loss since December 2004 according to Reuters data – is out of proportion to any fundamental weakness and has spread to the wider commodities asset class. Oil’s weakness could strengthen the Organisation of the Petroleum Exporting Countries’ resolve to enforce supply cuts of 1.7mn bpd.." [more]

Saudi Women, Hajj Support [Jan 7]
"The Saudi Arabian Ministry of Health has revealed that one third of the 2,500 female staff who helped co-ordinate this year's Hajj pilgrimage were Saudi nationals.. ..The total of 861 Saudi women was an 11% lift on the figure two years ago and many were employed as physicians and nurses. The ministry actively encourages Saudi women to work during Hajj, offering training and promotion incentives.." [more]

France Didn’t Call for Pullout [Jan 7]
"..'France has never called for a withdrawal of foreign troops in Iraq,' he said. 'These troops are there based on a UN resolution,' the French minister said while addressing a joint news conference with Foreign Minister Prince Saud Al-Faisal.. ..The ministers held extensive talks in the Saudi capital and discussed several topics, such as the situation in Iraq, Lebanon, Palestine, Iran, and Somalia. Foreign Minister Saud said the talks were positive and fruitful.." [more]

Dec 31-Jan 6, 2007

Saudi Arabia Urges U.S. to Change Course in Iraq [Jan 6]
"Saudi Arabia has urged the United States to change course in Iraq and warned against the break-up of the country along ethnic or religious lines amid growing sectarian violence.. ..'The coalition forces in Iraq should review the aims of their presence and the strategy of remaining there because the question that should be asked is: what have these forces achieved since their arrival on Iraqi land?' Crown Prince Sultan bin Abdul-Aziz told the London-based Asharq al-Awsat newspaper.." [more]

Saudi Tightens Freight Security [Jan 6]
"X-ray and security tapes of shipments will become mandatory in Saudi Arabia from May 2007 as per a new cargo and freight security initiative. The Saudi Arabian Civil Aviation Authority (Sacaa) has said the new programme of 'appointed freighter to all air cargo agencies and offices' will apply.. ..Businessmen need to fulfil additional requirements in accordance with the Authority's specifications. Foremost of these is securing X-ray detective devices to detect the contents of the shipment and to provide security tapes for packing the shipments.." [more]

Saudi Shares Market Commences Business After Eid-Break [Jan 6]
"The Saudi Shares Market will commence its business here later today after Eid-Break. Today is the first transaction for the year 2007. the Saudi shares market ended its transaction last year at 7,993 points. The market lost 53% of its value last year compared with a year earlier following the dramatic decrease on February 29 and the month of October last year.. ..In terms of value of shares traded and number of deals executed, the industrial sector was the most active sectors.." [more]

Empowering Women in Saudi Media [Jan 6]
"At a recent UNDP seminar in Riyadh on the role of the media in human development, one of the workshops was on the role of the media in empowering women. The participants agreed that Saudi media have failed in empowering women but there have been efforts in the past few years to amend that.. ..While they admitted that there has been an increased interest and focus on women’s issues in the media, the coverage generally remains limited, superficial and censored.." [more]

Negative Trend in GCC Stock Markets Partially Reverses [Jan 6]
"The negative trend in GCC markets, set in October and accelerating in November, was partially reversed in December as five of the six GCC markets ended the month higher.. ..The largest market, Saudi Arabia, was lower over the month as trading volumes were markedly lower due to the onset of the Eid holiday and persistently poor sentiment. The decline was broad-based across all sectors with the industrial sector performing relatively well and ending the month unchanged.." [more]

AE Systems Above the Law Over Saudi Enquiry [Jan 5]
"The recent decision by the Serious Fraud Office (SFO) to drop its investigation into the alleged bribery of Saudi Arabian officials by arms maker BAE Systems PLC has prompted criticism from anti-corruption campaigners who claim that the UK defence company is now 'above the law'.. ..Mark Pieth, the chairman of the OECD Working Group on Bribery in International Business Transactions, wrote to the British government in mid-December on behalf of a Working Group asking for clarification on media reports regarding the BAE affair.." [more]

Saudi Govt Signs Agreement for Land Linkage in ECSWA Region [Jan 5]
"..The Ministry of Transport would be the regulatory authority in preparing the groundwork for a freer flow of trade and transportation. Al Ohali said that the Saudi government has already signed an agreement for land linkage within the United Nations' Economic and Social Commission for West Asia (ECSWA) region. 'We have fulfilled the requirements in this regard by completing the road network as far as the Kingdom is concerned. The proposed railroad link between Jeddah and Dammam will further enhance this network'.." [more]

Gulf States Want Status Quo In Mideast [Jan 5]
"..Against a background of Western saber-rattling, the GCC has recently focused its efforts on building a distinctive Gulf Arab position on Iran's nuclear program.. ..Instead of focusing on punitive levers on Iran, GCC states remain committed to a largely nonconfrontational policy of defusing tensions with Iran and maintaining the status quo of strong U.S. military commitment as the key deterrent to Iranian influence. Recent GCC statements on Iraq and Iran have been shaped by Saudi Arabia's attempts to demonstrate leadership, while simultaneously avoiding any significant commitment, to prevent deviation from the status quo.." [more]

Top Jobs Reserved for Women [Jan 5]
"Top jobs, especially in the ministries of education and higher education are to be reserved for women. The Education Ministry, which announced the plans two weeks ago, has already appointed more than 27 women in top positions. Five posts for deans have been reserved for women as part of the government’s efforts to place women in top positions and give them more autonomy concerning girls’ education.. ..The Labor Ministry, which is working to create more job opportunities for women in different sectors, estimates unemployment among women at 28 percent.." [more]

Oil Little Changed, Set for Biggest Weekly Decline Since 2005 [Jan 5]
"Crude oil traded little changed, set for its biggest weekly decline in New York since April 2005, as mild U.S. weather curbed demand from the world's largest energy consumer and fuel stockpiles jumped.. ..Oil has fallen more than 9 percent this week, the biggest decline since the week ending April 29, 2005, when oil slid 10 percent.. ..OPEC is ``very concerned'' by the slide and ministers may consider meeting before the next scheduled gathering on March 15 to review quotas.." [more]

Saudi King Met Lebanon's High-Ranking Hezbollah Delegation [Jan 4]
"A Lebanon's high-ranking Hezbollah delegation was received by Saudi King Abdullah Bin Abdul Aziz in Saudi Arabia last week, urging the Shiite group to sit down and discuss the controversial issue of the international tribunal with an "open-minded spirit," Lebanon's local daily As Safir reported.. ..It was reported that the three-day visit was aimed at easing tension between the mainly Sunni Muslim kingdom and Hezbollah.." [more]

Alpha Tours to Spend $1.4m in Saudi Venture [Jan 4]
"Dubai-based Alpha Tours has entered into a joint venture with the Saudi Travel and Tourism Bureau (STTB) in Saudi Arabia to manage 28 offices jointly. The venture is part of a Dh10 million ($2.72 million) investment.'Saudi has always been the biggest market from this region. The focus has shifted to bringing in more tourists from selective markets'.. ..Though Saudi Arabia is known to have strict visa and travel formalities, Aridi points out that the Saudi Supreme Commission for Tourism has eased restrictions in recent months, and is working towards a solution to bring in more tourists.." [more]

Ban on Israeli Goods in Place: Saudi Customs Chief [Jan 4]
"Director General of Saudi Customs Saleh Al-Barak reiterated that the Saudi regulations do not permit the import of goods manufactured in Israel. 'The official regulation followed by every customs house at the Kingdom's border crosspoints is a total ban on any goods of Israeli origin'.. ..Anyone found breaking the regulation would be treated as a smuggler of contraband goods to the Kingdom and fined accordingly and the seized goods destroyed.." [more]

DHL Wins Multi-Million-Dollar Contract with Saudi Aramco [Jan 4]
"DHL Exel Supply Chain, the logistics specialist at Deutsche Post World Net, has concluded a 10-year multi-million-dollar contract with the world’s number one crude oil producer, Saudi Aramco. Starting with the implementation in January, it represents one of the largest business deals ever achieved by DHL.. ..DHL has been contracted to develop the oil giant’s national logistics infrastructure.." [more]

Saudi Arabia’s Sama Airline Eyes $500m Leasing Plan [Jan 4]
"Saudi Arabian low-cost airline Sama has announced plans to lease up to 35 Boeing 737s by 2010 at a cost of about $500 million as the kingdom ushers in private carriers. Sama last month won Saudi Arabia's second domestic passenger airline licence, ending the monopoly of state-owned Saudi Arabian Airlines as the government seeks to improve services and encourage investment.." [more]

Saudi Economy Set for Strong Performance in 2007 [Jan 4]
"Saudi Arabia is set to emerge as one of the most influential global financial powers in the years ahead. Following 18 years of deficits, the Kingdom has now recorded a surplus every year since 2000 with gross domestic product reaching $347 billion in 2006. Saudi Arabia's economic fundamentals have rarely been so sound.. ..Prospects for the economy continue to look good. While Saudi real GDP growth is forecast at 4.2 per cent compared to 6.2 per cent in 2006, the Kingdom is still expected to record a surplus albeit a much smaller one in 2007.." [more]

Women’s Issues: Baby Steps and Individual Successes [Jan 4]
"Perhaps there is no issue in Saudi Arabia more sensitive, more controversial and more shrouded in secrecy and contradictions than the issue of women. Whether it is driving, Shoura Council membership, legal rights, employment or anything concerning women, it is guaranteed to generate debate and media attention.. ..society favors siding with traditions that hamper women’s progress. The year 2006 witnessed ups and downs for women.." [more]

Saudi Arabia Ends Haj [Jan 3]
"Saudi Arabia ended haj in the holy city of Mecca this haj season without the deadly accidents that used to occur for the last years, al-Jazeera English TV channel reported on Tuesday. A senior Saudi official was quoted by al-Jazeera channel as reporting that some 2.5 million Muslims have been to Mecca for haj this season, and it has ended without the deadly accidents because of the government's security plan.." [more]

Interview with Saudi Film Director, Abdullah Al Eyaf [Jan 3]
"‘Cinema 500 km’ by Saudi director Abdullah Al Eyaf summarizes the story of the Saudi youth and the cinema industry known as the seventh art. Some people consider the symbolic distance referred to in the title optimistic. The docufilm, ‘Cinema 500 Km’ is director Al Eyaf’s first production. It presents a daring concept of Saudi’s young population in love with the cinema.." [more]

Saudi Arabia Expected to Continue Telecom Liberalisation Process [Jan 3]
"Saudi Arabia is expected to continue pursuing its telecommunications liberalisation process, according to an IDC study. A new licence is likely to be issued in the first half of 2007 and the telecom regulator was likely to open the market to voice over broadband (VoBB), further spurring competition and opportunities for both the incumbent and the new operator.. ..The study said that the Saudi Arabian circuit-switched telephony voice market contracted by 4 per cent to just over $2 billion in 2005 and will contract an average of 7.6 per cent annually over the next five years.." [more]

Inward Investment [Jan 3]
"The Saudi Arabian General Investment Authority (SAGIA) is playing a pivotal role in allowing the Kingdom to fulfil its economic ambitions by taking a leading role in attracting foreign direct investment (FDI), and promoting its newly liberalised investment laws.In particular, SAGIA is involved in plans to establish four economic cities, which will attract nearly US$80 billion from external investors. To ensure it can provide the information and services clients and potential investors require, SAGIA has invested in cutting-edge IT systems.." [more]

Market Capitalisation of GCC Bourses Down by $442bn Last Year [Jan 3]
"The market capitalization of GCC bourses was down by an astronomical $442bn in 2006. Saudi Arabia, which has the largest stock exchange in the region, topped the list with a $320bn loss.. ..Experts attributed the heavy losses of the regional bourses in 2006 to some serious flaws they are suffering from. The region being oil-rich is flush with funds as crude prices in the international markets have been ruling high. But the economies offer fewer investment opportunities to absorb the high liquidity.." [more]

Saudi Giant Buys Major North Plants [Jan 3]
"A middle-eastern conglomerate has completed the purchase for £350m of the company which runs some of Teesside's biggest chemical plants. Saudi Basic Industries Corporation (SABIC) has snapped up a chunk of chemical multi-national Huntsman - which employs 850 workers on Teesside.. ..The acquisition marks a significant step in SABIC's global growth plans. The former Huntsman business adds substantial capacity to SABIC Europe and complements the group's strong home base in Saudi Arabia.." [more]

Securing Saudi [Jan 3]
"The Saudi Arabian government has recently drafted tough new laws targeting electronic crimes; NME spoke to Dr Abdulrahman Al-Shenaifi, senior advisor on IT and security to the Saudi interior ministry.. ..The cybercrime unit is part of the security organisation – the public security section of the Ministry of the Interior of Saudi Arabia – within the investigations unit. I’m in charge of building this unit to fit in with the direction of the MoI (Ministry of the Interior), and we will be closing the RFP in a few weeks.." [more]

Saudi Arabia Declares Hajj Season Success [Jan 2]
"Saudi Arabia Chief of the General Intelligence and Deputy Governor of Makkah region Prince Miqren Bin Abdulaziz said on Monday that the Hajj season of this year was a success. In a press statement the Chief General said health and security status during the Hajj season were excellent, adding that no real security incidents nor contagious diseases which might have disrupted Hajj pilgrims have been reported.." [more]

Competition Spurs Saudi Aviation Growth [Jan 2]
"Saudi Arabia's aviation market shake-up is set to intensify in 2007 as the Kingdom's first low-cost carriers start operations. This follows a decision 18 months ago by the Supreme Economic Council to end the 60-year old monopoly on scheduled internal air services held by state-owned Saudi Arabian Airlines.. ..Some 33 million air passengers passed through Saudi Arabia's 27 local and regional airports as well as the Kingdom's three international airports in 2006 as air travel continues to grow.." [more]

Lack of Women's Role in Haj Decried [Jan 2]
"Saudi women working as mutawwifs are a rare sight these days, but this was not always the case, says Asia Ali, a great grandmother and former mutawwif. Mutawwifs are people who guide pilgrims to perform the rituals. 'Seventy years ago, women had a greater role in serving Allah's guests during the Haj'.. ..'Female mutawwifs used to be part of the yearly Haj organisation and participated in the discussions'.." [more]

Pilgrims May Have Spent SR10 Billion in Makkah Alone [Jan 2]
"Pilgrims have spent SR10 billion in Makkah alone so far, according to a senior official at the Makkah Chamber of Commerce and Industry (MCCI). 'The Haj-related business activities this year have increased at least by 10 percent compared to last year'.. ..The MCCI official said the hotel sector has earned SR7 billion this season while the food and restaurant sector would have received an estimated SR1 billion.. .. the transportation sector is estimated to have earned over SR1 billion.." [more]

For the First Time, Women Guides Serve South Asian Pilgrims [Jan 2]
"The South Asian Pilgrims Establishment introduced some new measures this year to cater to 425,000 pilgrims from India, Pakistan, Bangladesh, Sri Lanka and Myanmar. For the first time they employed 100 women to reach out to female pilgrims and this proved to be very helpful.." [more]

Singapore Simplifies Visa Procedure for Saudis [Jan 2]
"Singapore has announced to simplify visa procedure for Saudi nationals under which all Saudi citizens holding diplomatic passports will not require visas to visit Singapore with effect from Monday. Though, all other types of Saudi passport holders will still be required to obtain appropriate visas for entry, but they have also been assured of a simplified and timely processing system of visa applications.. ..According to Singapore’s Immigration and Checkpoints Authority, the changes to the visa requirements are part of its ongoing review to facilitate the entry and stay of bona fide visitors.." [more]

New Year Holds Little Hope for Peace in Middle East [Jan 1]
"The UN resolution 1737, which imposes sanctions on Iran because of its nuclear activities, have raised several other questions about what the new year would bring for the Middle East. 'The development of the Iraqi security situation towards sectarian war would undoubtedly affect Iraq's neighbouring countries'.." [more]

Camera Surveillance at All Holy Sites [Jan 1]
"The Civil Defense directorate is planning to bring the whole pilgrim movement in areas that include the Grand Mosque, Mina, Arafat and other holy sites under camera surveillance to monitor activities in these areas, according to Brig. Muhammad ibn Abdullah Al-Qarni, commander of the control room at the holy sites in Mina. The surveillance system is already in place in the area surrounding the Jamrat Bridge, which had been the site of fatal overcrowding incidents in the past.." [more]

GACA Grants Licence to Sama for Operating Domestic Flights [Jan 1]
"Saudi Arabia's General Authority of Civil Aviation (GACA) has granted a licence to another carrier — Sama — to operate domestic scheduled flights across the Kingdom.. ..According to Sama, the aviation contract will secure all necessary technical support for daily engineering and maintenance of Sama's aircraft. Sama officials explained that the Swiss firm, an ISO 9001 certified company, is widely experienced in aircraft maintenance.. ..The Kingdom also plans to privatise the national carrier Saudi Arabian Airlines.." [more]

Islamic Banking in 2007 Set for Massive Growth [Jan 1]
"There seems to be no letting up of the massive growth of the global Islamic banking and finance sector in the coming New Year. Never mind the estimated year-on-year growth of between 15 percent to 20 percent of the global Islamic finance sector.. ..With oil prices and liquidity projected to be sustained at roughly the same levels during 2007, the budget surpluses of Gulf Cooperation Council countries will continue to be high. The Saudi budget for 2007 is projected at a staggering SR160 billion. This is important for the Islamic finance sector given that it will further drive both the public and private sector involvement in the sector.." [more]

Saudi Stock Market 2006: A Turbulent Year [Jan 1]
"As the 2006 closes, the Saudi Stock market Tadawul Index hovered at just about the 8,000 levels. This represents around a 52% fall.. ..the year 2006 was a turbulent one that will be long remembered as a watershed for the Saudi Stock market, with peaks of 20,966 and lows of 7,500. In between, many thousands made what was seemingly easy money, but many more thousands lost substantial amounts of their lifelong savings, compounded by social ailments, family breakdowns and cases of tragic deaths.." [more]

For Young American Muslims, Hajj Pilgrimage is an Adventure [Dec 31]
"The 20-year-old American tells his hajj pilgrimage stories a mile-a-minute, his hands moving in excitement.. ..For young American Muslims far from home, the hajj pilgrimage is an awesome adventure that they say not only deepens their faith and connects them with the wide range of Muslim peoples.. ..More than 20,000 Americans are participating in this year's hajj, a higher number than usual because the pilgrimage, which began Thursday and ends Monday, coincides with Christmas and New Year's holidays.." [more]

Saudi Economy Enters 2007 on High Note [Dec 31]
"The twenty first century has seen Saudi Arabia emerge as one of the most influential global financial powers. Following 18 years of deficits the Kingdom has now recorded a surplus every year since 2000 with gross domestic product reaching $347 billion in 2006. Saudi Arabia's economic fundamentals have rarely been so sound. Oil revenues soared to $194 billion in 2006. As a result, Saudi Arabian Monetary Agency, the country's central bank, estimates that the Kingdom's trade balance was 17.5 per cent up on the previous year at SR 553.4 billion ($148 billion).." [more]

Saudi Revives Mediation After War of Accusations Created Stir [Dec 31]
"The 'war of accusations,' which has created a stir when Druze leaders accused Hizbullah of involvement in a string of political assassinations, made Saudi King Abdullah Bin Abdul Aziz revive his efforts in a bid to ease tensions and avoid further escalation. Saudi ambassador Abdul Aziz Khoja cut short his Eid Al-Adha holiday trip to return to Beirut, where he promptly met with Parliament Speaker Nabih Berri on Friday.. ..The paper said Khoja expressed the kingdom's backing for Berri's "new initiative" aimed at resolving the crippling political crisis in Lebanon.." [more]

Pilgrims Begin Ritual of Stoning the Devil [Dec 31]
"More than two million Muslim pilgrims began the symbolic stoning of the devil yesterday, that puts to test new safety measures at a stage of the Haj that has seen tragedy in the past.. ..Security fears were already high during this Haj season because of sectarian strife between Sunni and Shiite Muslims in Iraq and elsewhere in the region.." [more]

Outrage at Timing of Execution [Dec 31]
"The Saudi Press Agency (SPA) yesterday criticized the timing of the execution of Saddam Hussein. An analyst with the official SPA said the execution has drawn strong disapproval of observers because it took place during the holy month of Dul Hijjah, besides being on the first day of Eid Al-Adha. 'It is an occasion which is respected by the entire Muslim population,' the analyst said.. ..Saddam’s execution struck a chord of sympathy in many Saudis.." [more]

Region Must Capitalise on Petrodollar Boom [Dec 31]
"Even more impressive than the oil bonanza of the 1970s and 1980s, a consequence of the four-year rise in oil prices has been to boost the economic power of Gulf Arabs, even as their political authority wanes and their regional security is violently shaken. The urge to translate oil wealth into political advantage on the world stage is inevitable. Most important, however, is for Gulf states to deploy their petrodollars wisely, at home and abroad, and create more robust economies that can sustain themselves through periods of low oil prices.." [more]

British Stewardess to Challenge Airline’s Bible Ban on Flights to Saudi Arabia [Dec 31]
"A Christian air stewardess is planning to challenge a ruling by a British airline that prevents staff from travel to Saudi Arabia with a Bible.. ..'But Bmi says it has banned her from taking the Bible with her in accordance with Foreign Office advice that no non-Islamic materials or artifacts are allowed in Saudi Arabia.'On its website the British Foreign Office says of Saudi Arabia : 'The importation and use of narcotics, alcohol, pork products and religious books, apart from the Qu’ran (Koran), and artifacts are forbidden'.." [more]

Anti-Smoking Campaign to Bear Fruit Some Day [Dec 31]
"The Health Ministry’s Anti-Tobacco Awareness Campaign took Haj as an opportunity to carry out a vigorous campaign against smoking. Dr. Abdullah Al-Badah, head of the campaign, said.. ..'It is a great opportunity for a large-scale anti-smoking campaign. There are almost three million pilgrims, half of them from the Kingdom, whether citizens or residents,' he said. Al-Badah, who is heading the campaign for the fifth consecutive Haj, used statistics from other Arab countries to emphasize his point.." [more]

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